Karen Brown 0

Stop BCRAGD property purchase

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I, the undersigned, petition the Board of Directors of the Bandera County River Authority and Groundwater District (BCRAGD) to STOP THE PURCHASE of the property at 440FM 3240, Bandera, TX for $200,000 due to the following reasons: 1) The private appraisal is invalidated by conflict of interest created due to the pending civil charges by the BCRAGD against the appraiser at the time she performed the appraisal. 2) The appraisal is further invalidated by the obvious pre-determination of value as evidenced by all comparables adjusting to match a figure exactly $2,500 above the advertised sales price. This appraisal does not appear to adhere to USPAP standards and thusly cannot be utilized as a certifying document as to the value of said property. 3) The appraiser was hired by and paid for by the selling agent - a major breach in real estate protocol which further clouds the veracity of the appraised value. The BCRAGD is scheduled to repay the cost of the appraisal at the closing. 4) This appraisal is formally under investigation by the Texas Appraiser Licensing and Certification Board. It cannot be considered useful or valid until this governing agency concludes its investigation. 5) The BCRAGD has no record of utilizing any standard business practices in making this decision, such as: a) Cost-benefit analysis of maintaining the current lease at $0 rent versus constructing and maintaining a new building. b) Written estimates for renovation of the existing building. c) Accounting of monies available to perform the necessary renovations and new building. 6) The property is located in a platted subdivision with covenants restricting land use to residential only. Use of the property for commercial purposes is subject to legal challenge at any time. 7) Costs to renovate and/or rebuild this property are estimated at $250,000 in additional tax funds - five times the amount of $50,000 quoted by Director Jerry Sides.


Concerned Citizens of Bandera
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