Flood Plain Info Updated

Subject: Parkview Terrace - updated information

Maurine, here is some more information about the properties located within the 100-year floodplain. The Market Value of homes is derived by dividing the assessed value by the median (most frequently occurring) difference between assessed value and actual market sales in Parkview Terrace from January 2007 to the present. According to the Iowa City Assessor, assessed values were most often 87.9% lower than home sales in Parkview (there were ten) during that period. Using this information, then, damages equal to or greater than 50% of the market value will require that the structure be elevated so that the lowest floor is one foot above base flood elevation.

Original square feet and post-FIRM additions are included on the table because if the cumulative total of additions since 1977 equals or exceeds 25% of the homes original floor area, the elevation (and perhaps the entire house) needs to be elevated. I doubt we’ll be looking at additions, but someone may decide to include an addition along with repairs. In that case, the table helps us keep track of how close a homeowner is to increasing the original floor area by 25%.

Parkview Terrace Data
Source: Iowa City Engineering Detail Map

Address	Year of Construction	Original SF	Post-FIRM Additions	2008 Value*	Market Value**
539 Normandy	1989	2,625		225,900	256,996
551 Normandy	1990	7,970		732,710	833,572
601 Normandy	1963	1,813	1995: 172.6 sf (dining room) 1986: 96 sf greenhouse	219,820	250,080
837 Normandy	1976	1,771		128,330	145,995
839 Normandy	1974	1,749		103,840	118,134
841 Normandy	1980	2,436		140,260	159,568
845 Normandy	1979	3,142		185,240	210,739
849 Normandy	1979	1,942	2004: 288 sf addition	136,930	155,779
853 Normandy	1974	1,624		107,640	122,457
857 Normandy	1974	1,848		149,490	170,068
861 Normandy	1974	1,624		138,630	157,713
865 Normandy	1976	1,608		83,150	94,596
873 Normandy	1972	1,972		114,340	130,080

*Values obtained from Iowa City Assessor
** From 01/01/2007 – 06/20/2008 median assessment was 87.9% lower than actual sales prices, so assessed value is divided by 0.879 to arrive at market value.

Parkview Terrace Data
Source: Johnson County GIS

Address	Year of Construction	Original SF	Post-FIRM Additions	2008 Value*	Market Value**
609 Normandy	1970	1,910	2002: 230 sf addition	111,410	126,746
613 Normandy	1962	1,672		102,030	116,075
813 Normandy	2000	3,331		285,440	324,733
832 Normandy	1975	2,032		142,580	162,207
833 Normandy	1974	1,672		129,170	146,951
836 Normandy	1976	2,056	2000: 406 sf addition	116,680	132,742
869 Normandy	1976	1,232		69,920	79,545
877 Normandy	1976	1,760		80,310	91,365

*Values obtained from Iowa City Assessor
** From 01/01/2007 – 06/20/2008 median assessment was 87.9% lower than actual sales prices, so assessed value is divided by 0.879 to arrive at market value.

Parkview Estates LOMC

Address	Case Number	BFE	LAG
729 Normandy	03-07-713A	651.4	651.4