A parcel of land is proposed for residential house development. The land is situated beside a...

A parcel of land is proposed for residential house development. The land is situated beside a river and so flooding is suspected to occur. Outline how you would go about assessing if the land is subject to flooding.

If you assess that the land does flood, outline how you would go about determining the flood levels at the property. In this case the principal objective of the assessment is to determine the flood elevation in a 100 yr ARI flood along the boundary between the creek and the parcel of land. Specify only the methodology noting that you need not present the theoretical description of the proposed method. A step by step procedure on how the assessment will be undertaken is sufficient. Specify the data required to conduct the assessment and where you would source the data.

Your submission should be in point form and should not exceed one page.

Solutions

Expert Solution

Ally Wells answered 1 month ago

Next > < Previous

Related Solutions

Carlson Development owns a prime parcel of land that can be developed into a residential, commercial,...

Carlson Development owns a prime parcel of land that can be developed into a residential, commercial, or industrial complex. Carlson plans to manage each of the projects for seven years and then cash out. After considerable research, Carlson estimates that cash flows from the three alternative projects are as follows: Cash Flows In Millions Project Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Residential (25.0) 2.0 2.0 2.0 2.0 2.0 2.0...

Russell Corporation sold a parcel of land valued at $517,500. Its basis in the land was...

Russell Corporation sold a parcel of land valued at $517,500. Its basis in the land was $382,950. For the land, Russell received $72,750 in cash in year 0 and a note providing that Russell will receive $265,000 in year 1 and $179,750 in year 2 from the buyer (plus reasonable interest on the note). (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) What is Russell’s realized gain on the transaction? What is Russell’s recognized...

The Tinsley Company exchanged land that it had been holding for future plant expansion for a more suitable parcel located farther from residential areas.

The Tinsley Company exchanged land that it had been holding for future plant expansion for a more suitable parcel located farther from residential areas. Tinsley carried the land at its original cost of $30,000. According to an independent appraisal, the land currently is worth $72,000. Tinsley paid $14,000 in cash to complete the transaction. Required: 1. What is the fair value of the new parcel of land received by Tinsley? 2. Prepare the journal entry to record the exchange...

Carver Inc. purchased a building and the land on which the building is situated for a...

Carver Inc. purchased a building and the land on which the building is situated for a total cost of $808,800 cash. The land was appraised at $167,422 and the building at $762,698. Required a. What is the accounting term for this type of acquisition? b. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building. c. Would the company recognize a gain on the purchase? d. Record the purchase in...

5. Kirby Corporation bought a building and the land on which it is situated for a...

5. Kirby Corporation bought a building and the land on which it is situated for a total cash price of $429,000. The company paid transfer costs to the lawyer of $5,000. Renovations done to the building totaled $52,000. The land and building were independently appraised at market values of $150,000 and $350,000 before the renovation respectively. Required: a) Allocate the cost of the property on the basis of the appraised values. Ensure you show your calculations. b) Prepare the journal...

Carver er Inc. purchased a building and the land on which the building is situated for...

Carver er Inc. purchased a building and the land on which the building is situated for a total cost of $963100 cash. The land was appraised at $210.437 and the building at $897128. Required a. What is the accounting term for this type of acquisition? b. Determine the amount of the purchase cost to allocate to the land and the amount to allocate to the building c. Would the company recognize a gain on the purchase? d. Record the purchase...

A developer wants to subdivide a parcel of land into 35 lots to be used for...

A developer wants to subdivide a parcel of land into 35 lots to be used for residential construction. The projected sale price of the developed lots is $1,000,000. The site development costs are set forth below: (5points). Development costs $300,000 Management and supervision 15,000 Contractor’s overhead and profit 100,000 Sales Expense 35,000 Taxes 20,000 Entrepreneurial profit 50,000 TOTAL $520,000 What value is indicated if the development and marketing period is projected to be three years and the market-derived discount rate...

An owner of a parcel of vacant land and a prospective buyer enter into a written...

An owner of a parcel of vacant land and a prospective buyer enter into a written contract. For a nonrefundable fee, the owner agrees to keep the prospective buyer's offer on a property open--for a mutually-acceptable period of time. If the prospective buyer decides to buy the vacant land, both parties have agreed to a purchase price. If the prospective buyer decides against purchasing the property, the owner will keep the nonrefundable fee received from the prospective buyer at the...

If a parcel of land is assessed for tax purposes at $215,000, is offered for sale...

If a parcel of land is assessed for tax purposes at $215,000, is offered for sale at $225,000, was originally purchased for $45,000, is recognized by its purchasers as easily being worth $240,000, and is sold for $414,000. At the time of the sale, assume that the seller owed $80,000 to TrustOne Bank on the land. Immediately after the sale, the seller paid off the loan to TrustOne Bank. What is the effect of the sale of the land and...

Look for a parcel of land in your city that would be a good location for...

Look for a parcel of land in your city that would be a good location for a new stadium or arena. How much does this land cost? What makes the choice of land favorable? (infrastructure nearby such as existing highways/roads etc.). What are some possible negative aspects of the choice?

Subjects