Fort Walton Beach Council agenda — 01-07-12 retreat — reading text

opinion that the mwket value of the fee simple mcoot in the subject property, , as is. as of September 5, 201 I, is: TWO HUNDRED TWENTY FOUR THOUSAND DOLLARS 5224, 000 I its exposure timc linked to the final current value opinion is a range 9 to 12 months based on ita ket sales of similar properties and market activity. Packet Pg. 40  4. 4.c Pace._. V1 real, Puhanfc l' nmFVing l) anmmem. R) Pa7292i Gn arlien WalmnIl" lh SFR Lob, Fors W Nmn ticach. 11 Pe hereby certify that we have no interest, present or contemplated, in the appraised propmm. The undersigned appraisers ure competent for the property type under appraisemmnt. ,' his appraisal has been prepared utilizing all ofthe requirements set forth as standards for real estate appraisals established for federally related transactions by the Comptroller ofthe Currency, the Federal Reserve Board lire Federal Deposit Insurance Corporation, and the Statc or 1= lorida. The appraisal is in conformity with the standards for real estate appraisals as established by the Appraisal Foundation mid its Appniaal Standanls Board. fire appraisal also eonfimns to the (' i(onr Sn rAa' 1 n( Pr J.' vluno( Ippruiud Prnrrke ( USPAP) and your Iamroetlons. The fee for this appraisal ) ms nor based on value nor was the nssi¢ nnxnt undertaken based on a predctrnnined value, a trend in value, or u minimum or masinmm value. Rcspeclfully submiticd. HL MIMIRF V AND ASS( ICtA try. 1V Hillary Driscoll- Olds Slat,- cenified General Reul Estate Approiser N° RZ 3120 ( FL) Palter H. Huntphnry, NARICS State- ceoi6ed General Real Estate Appraiser N° RZ 1218 ( FL) im T a`d6O c rUER Q Packet Pg. 4i  4. 4.0 SUMMARY APPRAISAL REPORT 7ltisisukonmu, 1ppn &ol Repnrt which rs intended ro co pl} iauhtherp rlingregui... ents ser( vah ..... ls.$tandanls Bulc 1- ' Ih) rftl r: rifll",' a , dard"' Prnfe.. woul. 4pprni " IPoorfweforu5nwnmiy. IppraisnlR port 1, ,,, h. it - rr: ruv nnlJ unmans &" o, ii 111 " dow, r n' r5 and mralpses th' i " re , j j, o, nppruirul l - oesr to rleva p rl , op .... isrr'. prnion >f d Sapp... ll t m vutrn r onoe rh Iara lo, old", and unh .: is r m firs pl r r . Jle. 11m deprh< fdu e. imram ad or rhi. fay I spec Jrc to the •" is, frh hi nr wutJnr the lmc tded a. mrtdb. lmi. ] he uLf' i s are rol Eo,%ible f 1- ed use ofd' s renal CLIENT: City ufFon Wahoa Beach M, Paul L. Eubanks, Purchusing Department 105 Miracle Strip Parkway SW Fon Walton Beach. Florida 32543 1PI' R: IISERS: Ilillary Driscoll -Olds State- cenificd General Real Estate Appraiser N° RZ 3120 0 L) Walter II. Iumphrl Strafe- certltietl IS C General Real Fsane Appmisrr N° RZ 1313 tl' L) am rn ILMIIIRIY k, DASS0( M1 } S, IN( 2n° Floor, Regions Bank Building 400 Racetrack Road NW Fort W alto" Bead,. Florida 32547 CNJ a SDRd ECT PROPER 11'. I Sall) ' eripB n Bnou NVoods Luts l to7ind s a. Block C. Section 11. l owlslip 2 South- lunge 24 Vtl est. Okuloose County. Florida. O3 Property O Ph) -.c7 SFR l.R Lots, Bonn IBayou U AV OOds Subdirisian. Pore AVnhon Beach, Okaloosv Court @. t° Florida. l 111 N' II - 25 -24 -0140 -0003 -0010 3 m 1' F RPOSE OFTHEAPPRAISAL: The P ur Pus Iofthen PV' nilalanal y.a. w asto' toclo p ano pinebn of the marks"" uc ofthcsubjectproperty,- asi,;'., of` Srpwrmbe,, .' 2011. C INFENDEDBSEOFREPORT: The intended useofde appraisal will he for intemnl financial s ous.. .... Na other vo uscofthis repo" by anyothcrcntity or Pcnan is uuthur, d. y INI' E: NDEDUSER: The intended user is the client statedobovc and reulatnn- authorities. This reporl y is not Intended or mthorized for any other user or audience JZu PROPERTY RIGHTS APPRAISED: Fee simple inte ... I in the subject grope "y. Q FFFFCI' IYE D,% I OF VALUE: September 5. 2011, DATE OF REPORT: September 12, 2011, 1) VI E OF INSPECTION: Hillary Driscull -Olds and W alts H. Humphrey inspected the property on May 5. 2011 for a previous aalanment on the subject property as pan ofthe parent tract OFF INl' I' IONS: The following definitions are provided to assist the reader in urdcalandn, this appraisal report. Packet Pg. 42  F- 4 .4.c PogeIS 7- SFR Lots, Bayou Woods Drive NW, PO 4072823 11 & A W 1 101 69 Port V altos Beach, It- 31547 DFSCRIPT ION OF REAL ESTATE APPRAISED General Description: Assemblage ofseven single fruity residential lots in a platted subdivision totaling 1. 87= acres of vacant land Nan3 Description: Locatiwt The subject property is located in Bayou Woods Subdivision in the south portion of the Okaloosa County. within the Port Walton Beach jurisdictional limits, on Bayou Woods Drive. lust south of Beal Parkway to the nosh. Beal Parkes a- y runs toughly east -west near the subject and could be described as a cunaiercid con'idor oods Drive is a t o NOJmcCa93 V that terminates at D. S. Highway 98 to the south, a can lane divided highway. Brynu W w MN lane. pas ed residential street Sot ir Street NW connects Bayou