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DESCRIPTION OF THE PROPERTY <br />Site <br />The subject property is a vacant tract of land containing 1.51 acres or approximately 65,776 <br />square feet. The site is situated on the east side of State Highway 123, south of proposed <br />McCarty Lane. It is north of the Hays/Guadalupe county line and on the southern boundary <br />of the San Marcos city limits. The tract is rectangular in shape and is a part of the <br />Cottonwood Creek Subdivision. A survey of the whole property was not provided. A survey <br />would define the exact dimensions and area of the whole property. However, according to <br />an aerial photograph from the city, the subject has 272.39 feet of frontage along SH-123 and <br />a depth of 255.67 feet. The value conclusion herein is subject to the results of a survey of <br />the property. The subject slopes gently to the south and is approximately three feet above <br />street grade to SH-123 . <br />All public utilities are available to the tract. According to FEMA Flood Insurance Rate Map <br />No. 480290479 F, effective September 2, 2005, none of the subject property is located in a <br />flood plain. <br />Zoning <br />The site is zoned "P" -Public and Institutional District by the City of San Marcos. Further <br />discussion on the zoning of the subject is can be found in the Highest and Best Use section <br />of this report. <br />History of the Property <br />The subject property is currently owned by Cottonwood Creek JDR, Ltd and has been under <br />this ownership for over three years. There are no known offers or options on the subject <br />other than the owner's offer to sell the property to the City of San Marcos. <br /> <br />-7- <br />