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

Phvslcrl Le' arfon of Abby, Phtlp" It OzC3p U 31 & 35 Memorial Parkway SW Fan W alto,, Beach. Florida 32548 nrheo TAX ID: 14- 2S- 24 -221F -0000 -A000 PL RPOSE OF THE APPRAISAL: Thcparpnscofthe app raisa la raly, i, wn, iod evelopare, evion ofthe m arket eahac of Hoe subject property, as of May 18,'_ 011_ UNUu INTENDED USE OF REPORT: Thelm' ndedri, ofihc appraisal will he for refer,"', in pndag, eachanee, anchor asset mmranetnent deeisiona. No other use of this report by any other entty or peso" is truth otized. IItntO.` INTENDED USER: is not intended or aatl orfeed for ray other user or, ai dlcv,, Thlsmpon taE N Q PROPER TV RICH I S APPRAISED: Fee simple interest in the suoc.... operty. EFFECTIVE DA TE OF VALU E: May 18, 2011 DATE. OF REPORT: May 27, 2010 DATE OF INSPECTION: 3c,, Cox iaspec¢ d the pmpeny oa May 5, 201 1_ W alter 1l. l lumphrcy prcy iously inspected the pmpeny. DEFINITIONS: ThedePnitwes fa lle, te, the Ccoo hearten o I Val.' are pro, i red bea, suhe, ador in end asmndiae this appraisal report_ Packet Pg 57  4. 4. d Crmiw Smear Qn1v Sellers,, Pak 31 & 35 Memorial Parkx'ay SW it & A File Asa 100940 JC Fen Walton Bach, Flonda 32548 CERTIFICATION OF VALUE: W z ceni[ y Omt, 10 the best of. m knowledge and belief: L Tire ... rent..... of fan conmiued in this report are time and correct. The reported analyses, cpmomr, and meeloslons an ]united only by the reported assumptions and lhalting oundruan,. and are curpersonan, unbiased professional analyses, opinions and conclusions. 3. We have no present or prospective interest in the property that is the subject ofthis report and no personal interest with respect to the parties involved_ We have not previously appraised the subject, or performed any profcaslnntl services. 4. We 11mc no bias with respect to the property that is tire subject of this report or or the parties involved with till, assignment. 5. Our eupagemrnt in this assignment wes not contingent upon developing or reporting pre- Anermined renulu_ 6. ouceontpcnemiou for co m to on a, his txignmeotis not contingent upon the de velopment or rep ovine of a prod steno i red value or direction in value that favors the cause of the client, ate amount of the value opinion, the attainment of a stipulated result, or the occurrence oft subsequent event directly related to the intended use of this appraisal. J. We have made a peronal inspection f, he property that is the subject of fix report. Jerry Cox inspected the property an May 5, 2011. W aher Humphrey previously inspected the property. S. No ooe provided significant real properry appraisal assistance to the persons signing this report. 9. T he reported tntlys... opinions, and conclusions were developed and this report has been prepared, In conbermity with the Code of Professional Eddcs and Standard, of P, wf,, awrV Appraisal Practice or the Al- put- al Institute. 8. The use ofthis report is snb, c, t no the requil-roarm, ofthc Apprnisal lnsGOmc reform, to nvicw by is duly authorized rcpresenmtices. 9. k, of do date of tins report, Jerry Cox has completed the continuing education program , fill, Appraisal lostiune Walter 11. 1lamphrgy has not completed the continuing education requirement of the Apprnisal intonate- 10. Subject to file above analysis, general ..... teatimes and limiting conditions, and cc, ifi. all0n of value set fonh linen it is ourprofessionel opinion that the market sabre ofthe fee simplemicros, . the 6, 26± acre site. and stave Scam, Center. " art is," ac of May 18, 2011, is ONE MILLION FIVE HUNDRED THOUSAND DOLLARS 1, 500, 000 11, nntort' nnu A ssoa. Its, Is, Jerry Cox, MBA s, mats! Crnrml Rol Fume Animal ... ver Re 3114 ( FL) Walter It. llunnphrey. Sum- uni ild ( Lwrral Real Estate Almso r W Rox 1216 ( FL) Packet Pg. 58  F- 4 .4. d Pa_, ul crow" Sec." Ceomr Scabr.: zc Park 31 & 35 Memorial Pwkwoy See Fm" lPolmn Poch, Florida 32548 R& A File Nr110094D JP DESCRIPTION OF REAL ESTATE APPRAISED Site: Ownership: The owner of0te property acc. rding to public records is Cue of Fore W almn B each Fnm W shun Beach, Florida 32548 True, Dimensions and Funrfages: The subject property is a Creauve Seainr Center and Scabreeze Park located at 31 & 35 Mcmufiol Parkway SW in Fort Walton Beach, Florida. The 616, acre site is 700 feet deep and hue 300 feet of fronmge on Memorial Parkway, The 8, 735, SF Creative Senior Center is located at the rear of the proDCny. The front . fine property is Scabreeze Park, a c rourrop ballpark and r..... l anal area Exress Land: None. Top. graplq': Tlie soil at all parcel locau. rr,., pears to be Urban Lund which 11 " all, level or acarly sloping alerts thatair covered with nupr, c, sh. ppin.. eater, parking lots. large buildines, Jell and sidewalks aw. cdlo, to tlmScil Sit,, . Dainagc p, con, tdc, cilr SellC. nscnmioa Service United Series Dpamacat of AOiwlmrc. S Sol,, . 1 Ok. lousa C. i Florida. Packet Pg. 59  4. 4. d re: D Cosomr Srnmr Conul b¢. va Pk v 11 & 35 Memorial Padway SW 11 & A Flle IE110094D JC Fnn VVIble 131. 111, FleriM 32548 Prot ukr U" b" Prodder Urillry Elecmicitr Gulf Sturm -water Drainage Florid, DOT Fort W ahon Beach Fire Department Fort Walton Beach Fire Dept Water and Sewer Okal... a Gas Police Department Fort Walton Beach Police Dept. Namml Gas Refuse Removal Contract Telephone Century Link Cable ' 1 d c,,, lon Co.aCoble BaEnscermoaecnhtsm/BaenstesmEn: enctrso/achments: WW e as umeas ume that hat ypicalypical util tyutil ty easementseasements existe.xist. TheThe existence existence oror nonexistencenonexistence ofof cncra chntcntscncra chntcnts oror eae"a" HortHort s NJUVm6C3aso shouldshould bebe confirmedconfirmed byabya FloridaFlorida licensedlicensed surveyor.surveyor. ThisThis appraisalappraisal assumesnoenero assumesnoenero achmentachment evsememsthatevsememsthat wouldwould vdverselyvdversely affectaffect tlatla valuevalue ofof thethe pared.pared. IngressIngress / / Egress:Egress: AccessAccess isis viavia MemoMemo .. .. nlnl Parkway_Parkway_ FloodFlood Risk:Risk: FEA{FEA{ 99 AfaAfa