Wednesday, May 16, 2001
Property's value up to jurors
Old house is issue between owner, city
By Cindi Andrews
The Cincinnati Enquirer
LEBANON Eight jurors will begin deliberating today whether the city of Lebanon should pay $89,000 or $380,000 or a different price for property it is taking from a local businessman.
Lawyers for both Lebanon and land owner John McComb finished questioning witnesses Tuesday and will summarize their cases this morning.
The city wants to buy 27 N. Mechanic St. to restore the nearly 200-year-old building there. Mr. McComb bought the land in early 2000 intending to tear down the building and expand the existing parking lot.
Appraiser Pike Levine testified Tuesday that $224,250 is the fair-market price of 27 N. Mechanic. The loss of parking there will hurt two nearby McComb properties to the tune of an additional $155,750, Mr. Levine said. Combined, that's slightly more than the $361,900 appraisal given Monday by another witness for Mr. McComb.
I am now sitting on 7,000 (square) feet of class A office space without the ability to provide parking, Mr. McComb told the jury. He said he would not have renovated the upper stories of his two downtown buildings if he knew his tenant parking would be taken away.
On the other hand, Roger Trauth, appraiser for the city, put the land value at $89,000 in testimony Tuesday afternoon. Land values in the central business district are fairly static, Mr. Trauth said contrary to the opinions of Mr. McComb's appraisers.
Further, Lebanon is seeking to pay only for the land itself. The effect on the other buildings should not be included, attorney Alan Abes argued, because 27. N. Mechanic is not physically or historically linked to them.
Lebanon Planning Director Marty Kohler testified Tuesday that in the past two weeks he never saw more than six cars in the 19-space lot at a time. Just 10 of the spaces are leased, Mr. McComb's witnesses conceded two to non-tenants.
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