Town seeks second opinion
Published on February 25th, 2004
STONEHAM, MA - Wary of low appraisal costs for several commercial properties on Hancock and Main Street, the town's Fire Station Review Committee will meet with representatives of appraising firm Robert D. Murphy Associates, Inc. on March 16.
With parcels such as 448 Main Street being appraised at only $150,000, much to the surprise of several committee members, Stoneham resident and Fire Station Review Committee member Jan Houghton worried that the total estimated worth of $1.44 million for the four commercial properties might be too low.
"I think they're [the commercial values] a little low and I want to make sure we're looking at the right numbers...I just want to make sure we have the right information before we make a report at town meeting," remarked Houghton, who saw the figures for the first time at last Wednesday's Fire Station Review Committee meeting.
Concerned that a mistake could ultimately throw off cost comparisons between the two potential sites for a new Emergency Operations Center at Hancock and Main Streets and the existing fire station on Central Street, Houghton requested that the Murphy group attend the committee's next hearing to explain how they arrived at the values.
"I'd feel a lot better about this if we brought them in. It just doesn't seem to make sense. I'm not the appraiser...but I just don't feel comfortable with the numbers," Houghton commented as several members nodded in agreement.
With some committee members suggesting that at least one of the commercial lots on Main and Hancock Streets might be vacant and up for sale, Town Planner Michael Gallerani advised committee members to send the information along to potential buyers as soon as possible.
"You should send a letter to [the current owners] advising them to disclose that the property is subject to the taking. Otherwise somebody will pay down the road and I'm not sure who that somebody is. The buyer should know that," asserted Gallerani, who believed Town Administrator David Berry should sign off on the correspondence. While the commercial appraisals appeared lower than initially anticipated, two residential lots at 107 and 103 Hancock Streets were evaluated at a higher than estimated value of $721,000. With the Main and Hancock sites coming in at a total estimated worth of $2,161,000, appraisals for two Emerson Street properties adjacent to the existing fire station came in at a much lower $644,000 price tag. However, committee members remained confident that despite the large discrepancy between the two locations' land acquisition costs, renovating the existing fire station would ultimately prove more expensive due to design aspects that would maintain the historical character of the building. "When you look at those other two sites, you look at keeping the towers and that's where the costs really jump up. Could we start comparing those costs and pull it all together?" asked Houghton, who wants to be able to provide an accurate cost comparison for the annual report at May's Town Meeting.
While Foxborough's Maguire Group, Inc. was expected to unveil the results of 21E or environmental testing at the commercial properties, the laboratory reports will not be available until the committee's next meeting.
Subscribe and get Home Delivery of The Independent
Save 36% off the newstand price — that's like 18 FREE issues!