The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1927-06-09
Board of Works Records In.
diCate Extra Damages
for Seized Land.
BURDEN ON TAXPAYER
Propose Virtual Gift for os-
from Realty Co. in Forty
Sixth St. Widening.

A deal whereby the board of
works, after talking with Gustav G..
Schmidt, city plan commission
member, proposes to pay the Ostrom
Realty Company twice the amount
Of damages for a piece of confls-
Gated property at which three mem
bers of the Indianapolis Real Es-
tate Board appraised it came to
light today.
Board of works records indicate
that it is proposed to pay damages
upon a plot which is twice the size
Of the piece Of land which the city
actually intends to take.
The lot is valued for taxation
purposes at 1890. Board of works
records indicate it is proposed to
award the Ostrom Realty Company
s4,842 for little more than half of
it.
The ground is a strip twenty-five
feet wide with 129 feet frontage on
Forty Sixth ST., at the northwest
corner of Forty-Sixth st. and
Boulevard Pl. 1t is needed by the
city for the widening of Forty-Sixth
st. as part of the city plan COM
missions plan to make an imposing
approach to the new Butler Uni
versity campus at Fairview.
Appraisers Named
March II, the board Of works then
composed of Roy G. Shaneberger,
Oren S. Hack and Lem Trotter, ap-
pointed D. A. Coulter. Chester w,
Henry, and Boyd w. Templeton to
appraise all the property on the
north side of Forty Sixth ST., needed
to widen 1t to eighty feet between
Boulevard Pl. and Sunset Ave.
May 25 this committees appraisals
| we're approved by the present board,
Virgil Vandagrifft, Frank Cones and
John w. Friday, the old board
having resigned meanwhile.
The realtors allowed most of the
property owners IS cents a square
foot for ground to be taken from
them. But the two lots between
Cornelius Ave. and Boulevard Pl.,
were regarded as more valuable. For
| the lot on the northeast corner of
Cornelius Ave. and Forty Sixth St.,
owned by the Fletcher Savings and
Trust Company, they allowed so
cents a square foot.
For the Ostrom Realty Company
ground, at the northwest corner of
Boulevard Pl. and Forty-Sixth st.,
the appraisers allowed rs cents a
, square foot, for a plot Is feet by
1914 feet, total Of $2,421.37.
Price Blank Vacant
This week, however. a preliminary
, assessment roll came down to the
board. This roll was blank in the
place where the amount of total
damages due the Ostrom Realty
Company should have been. The
Fletcher Savings and Trust Com
pany was allowed $1,897.50 for a
plot 25 by 1868 feet at 60 cents a
square foot for the adjoining plot.
( Meanwhile Plan Commissioner
/ Schmidt had been holding confer
ences with Vandagrifft. Schmidt, it
was learned, was deeply interested
in what was going to be done about
the Ostrom Realty Company lot.
( Wednesday evening Times re-
porter found penciled upon the
damage roll in Ostrom Realty Com
pany's blank "$4,84275," which is
just twice the amount the apprais-
ers recommended.
Notes on Report
On the accompanying appraisers
report appears in typewriting after
the Ostrom Realty Companys name
this notation:
"25 it. 1914 it., 3,228.5 so. #. at
75c so. it., $2,421.37."
linked beneath this appears the
identical notation.
Below this is a line, indicating
totalling and below that this no
tation:
$50 IT, x 25S it., CAST 50. it., at
$4,842.75."
OOlIlCOllc CIIcQ III IIllS SlIlCe OU
feet times 258.28 feet equals 1914
square feet instead of CAST square
| feet.
The total figure $4,842.75 would
indicate that someone was trying to
| figure in rate of $1.50 a square foot
for the Ostrcm Realty Company
while the adjoining property owner
was getting just go cents. 1t would
be impossible to allow Ostrom firm
damages on so feet by 25828 feet,
because the whole lot is only IS feet
by 1914 feet deep.
Load on Taxpayers
BY agreement the plan commission,
of which Schmidt is a member, pays
rs per cent of the cost of widening
Forty-Sixth ST., and Butler College
the other 25 per cent.
If the board of works awards the
Ostrom Realty Company twice the
damages recommended by the real
tors, Butler College will be forced
to pay $605.35 extra and Indian
apolis taxpayers $1,82602.
Hitler Office Supply Co. Main O612.
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