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Page 1 of 1 <br /> Linda Smith - Keizer Station south of Chemawa work order <br /> From: Steven Miner <br /> To: Combs, Nathaniel; Smith, Linda <br /> Date: 11/17/2015 10:19 AM <br /> Subject: Keizer Station south of Chemawa work order <br /> Steve and Christi were in asking about this. Kelly Hamilton's group is building senior facilities there. They <br /> are simultaneously combining 8 lots into four,then adjusting the lost lines to create four parcels along a <br /> realigned road. I told them to just treat this as one work order for simplicity, and note the circumstances on <br /> the work order. It may come across as a subdivision from the city, but it is really what I described above. <br /> We should treat this as a MAV balance for 2016-17. We'll need to think about what RMV to assign, given the <br /> better lot sizes and improved road access. <br /> Once they build on it, presumably 2017-18,we can treat it as ZON exception and value as we think we <br /> should at that time. <br /> Nate, another issue with this property will be which CPR to apply once they build. My understanding is that <br /> they plan both Assisted Living and Independent Living. The former is clearly 200 class. Independent Living <br /> could be 700 class if it was truly independent, but most companies now bundle in so many services that it is <br /> really more like Assisted Living used to be. If the rents are significantly higher than standard apartment <br /> rents,I would value as 200. <br /> • <br /> • <br /> file:///C:/User-s/LSmith/AppData/Local/Temp/XPgrpwise/564AFF1 CGWM2M-AS... 11/23/2015 <br />