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

Packet Pg. 54  4.4.d HUMPHREY AND ASSOCIATES, INC. COMMERCIAL REAL ESTATE VAWAT ION ANo REa IALem Spocto Cring In Undivided Partial Imoul Bruce B. Hionphrho MAU JD Walter H. Hntnphrey Send, emitted ( Metal Appmilcrxe RZ So,, — mea amrnl AP, mieerre RZ I21a ( FT) mnuop. or. Bleeehip25( protre 2nd Floor- Regions Bank Building 1031 LaSalle Street 400 Racetrack Road NW Jacksonville, Florida 32207 Fort Walton Beach, Florida 3254) - 1556 Telephone: ( 904) 346 -1944 Telephone: 1850) 862 -0] 66 Facsimile: ( 904) 340 -1945 Facsimile: ( 850) 862 -0981 May I8. 1010 Purchasing Department City of Fort Walton Beach 107 Mencle Strip Parkway Fort Walton Beach, Retitle 32548 Rc: Appraisal of the Creative Senior Center and Seabree? e Park, 31 Ar 35 MemoriAl Parkway SW, 1o11 Walton Beech Okalooso County, Florida 32548. H S A File As, 110094D JC DearMr. Eubanks: We lo.. eompieild the required Inspections, research. and Analyses necessary to appraise the fee simple interest m the above " ficrenced pared. The appraisal analyses are conskennvith the scope of work determined m be necessary 10 delve a credible resdll. The accompanying appraisal report is a summary appraisal report. This appraisal does not include playground equipment and improvement, and ecripown, assaciamd Arab spans. The purpose of the appmisol mmlysis was to develop an opinion of the market value of the subject 111111111, as of May 18, 2011, UNU Fire intended lisp of the appraisal will be for reference in pricing. exchange, and/ orauel mamgemem decisions. No NT other nsc of this report by any other Cori he or pefsoa is ourhorixd. Market value, fee simple Interest, leased fee imemsq highestand best use, and other D, Omert terms are defined in he follewing report We have analyrcd it, market value ofthe subject property based on our estimate of the highest and LNa0` best use of the subject end dE Subject to the above analysis, general assumptions and limiting conditions, and certification of value set Bath herein, V t is or plofcasmaid opinion but The market value of the fee simple interest in the Creative Senior Center improvement, exclusive of land. ha is, as of M Cy 18, 201 I, is: rQ THREE HUNDRED FIFTY THOUSAND DOLLARS 350, 000 Subject,, the above analysis, gales[ aa, umptler, and limiting co rdircoo, and certiticotion ofvalme set fart' herein, it is our profeasionnl opinioe that the market value of the fee simple interest in the 6. 26= Sere site. " a, Is." as of May 18. 1011. 1, ONE MILLION ONE HUNDRED FIFTY THOUSAND DOLLARS 1, 150, 000 Subject to the above analysis, general asounpribut and limiting conditions, and certification of value set forth herein. it is our professional opinion that the market value of the fee simple ioteast in the 6. 26e acre site. and Creative Seaior Center, as is,' as of May 18, 2011, is: ONE MILLION FIVE HUNDRED THOUSAND DOLLARS 1, 500, 000 Fhe exposure lime linked m We tam[ haricot sold, opinion is a range 6 To 9 months basal ern marker Into, ofsinillar proppaies and market act, ty Packet Pg. 55  4. 4. d PuaFnvin4 Dapanmcnt. P' d City arFan Wine. 11111th we hereby ' artily that " have an imerest, presem or conlemplatad, In dw appraised property. The eader>ignrd appraisers are competent for the property type under appraiwanyin This appraisal has been prepared utilizing all of t he repine ems set forth as standards far real estate appraisals established for federally related transacinns by the Comptroller of the Currency, the Federal Reserve Hoard, the Federal Deposit Insurance Corporation, and the State of Florida. TLC appraisal is in conformity with the standards for real ' slate appraisals as established by lie Appraisal rionol foundation and its Appraisal Standards Board. The appraisal also waforms to the Vayorm Standards off', 9ppmisa! Frnorice ( USPAP) oad your instr retinut, The fee for this appraisal was not based on salve nor was the asslgnmcnt undertaken based on a vred, lermined value,. tread in value, or .1 minimum oral " "alum value. R espca( ally saobtained, HVa1aH RrP TV D A45OCPTes. IF C. 6 N N3 a N Jerry Coc, MHA aC Score -eerti Ecd General Real Estate Appraiser No RZ 3114 ( FL) J 9d 0 walmr 11. Hamplu, U State -nertifed General Real Estate Appraiser K RZ 1218 ( FL) mN vN NT LN60a` cmVNtE Q Packet Pg. 56  4. 4. d SUMMARY APPRAISAL REPORT 7 -his APprriml Report cou :plies telUh the reponing requirements satforrb under Smndards Rule 2 - 2 ( b) c fehe Uniform Smndard., J' P' cfaI ud Appra(S. IPlocd[ e( USPAP), 11 represents summary discussions olthe dam, reusor. ny. mid analyses toed in the appraisal process to develop the apprakers' op7o7on li'alue. The analyses are consistent with theseope fwarkdee — sed to be neoemmr to derive a credible result. Soma supporting damhmenb, d s, ronrenung he door, reosonuhg, and analyses is wuained to he ,, p,,, sers fhla. The d,, 1 h ofde,, u,, b o cvoe. ir, d vi this report is speoi /ie to the ne, ds ofa, d o,,indfar the d• d db, 1. iv The app —over, not respOn5ble for h autlmriced iris of this report. CLIFINT_ Purchasing Depammctn City of Fort Wahon Bea', 107 Miracle Strip Parkway Fort Walton Beach, Florida 32548 APPRAISERS: Jerry Co. State certified General Real Estate Appraiser Ns RZ 3l 14IFL) N Walter H. Humphrey Smte- eertFed General Real Estate Appraiser N_ RZ 1218 ( FL) NJAc9a3 H w, tissY Aso AssectIlts, INC. 2 " Floor, Regions Bank Building 400 Racetrack Road NW Part Wnlrou Beach. Florida 32547 SUBJECT PROPERTY: Legal Dascnptiahh Seabreezu i Addition, Park Panel, accordiue to the plat thereof, os recorded in Plat Book 3, page I I of the Public Records of Okoloona County, Florida.