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DESCRIPTION OF SUBJECT: <br />The subject property* is located adjacent to and east of Orono’s current municipal <br />facilities. The property is basically level, approximately 12 acres in size and has a <br />rectangular shape. It is currently part of a 51.25 acre parcel that extends between the <br />eastern boundary of the Orono municipal property and Willow Drive. The topography is <br />a mi.x of woods, meadow and wetland. A wetland delineation study has found <br />approximately 2.6 acres of wetland mixed throughout the 12-acre property. The subject <br />property is bordered on the west by the City facility, on the south by what will be Kelley <br />Pk\vy and undeveloped commercial land, on the east by vacant land slated for residential <br />development, and on the north by school district property. <br />Access to the subject property is via Kelly Parkway, an asphalt surfaced frontage road for <br />what is currently Hwy 12. Kelley Parkway is currently developed from Old Crystal Bay <br />Road to the subject property and future plans are to extend Kelley Parkway to Willow <br />Drive. <br />Both municipal sewer and water are available for the subject property and would be <br />requireo for any development. <br />ZONING: <br />The current zoning for the subject propertv' is RR-IB, One Family Rural Residential <br />w hich allows a density of one house per 2 acres of high ground. With 9.4 acres of high <br />ground on the subject properly, 4 single-family dwellings could be constructed. <br />The current compressive plan has the subject property guided for medium density <br />residential or 4 to 6 town home units per acre of high ground. The development density <br />would have to be approved by the Orono City Council. <br />HIGHEST AND BEST USE: <br />After looking at sales of both 2 acre zoned development land and sales of higher density <br />town home land, and giving consideration to the characteristics of the subject property, <br />surrounding land uses, and potential development costs, it is my opinion that the highest <br />and best use of the subject property is for town home development. <br />COMPARABLE S.ALES: <br />A search of the market produced no sales of land zoned or guided for town house <br />development in the City of Orono. Recent sales of land zoned for town house <br />development were available in the City of Plymouth. The four sales located in Plymouth <br />that are most similar to the subject property were used in this appraisal.