HomeMy WebLinkAbout1998 12 14 Consent Item D
COMMISSION AGENDA
ITEM D
Consent X
Informational
Public Hearing
Regular
December 14, 1998
Meeting
~~
Mgr. / . . . .
Authorizati n
REQUEST: The Community Development Department - Planning Division requests the City
Commission authorize the City Manager to order an appraisal of two (2) parcels
of the Springs Land Investment, Ltd. and (1) one parcel owned by Jessup Shores
Partnership (aka Leerdam Property), north of S.R. 434 at Wagner's Curve.
PURPOSE:
The purpose of the appraisal is to estimate the market value of the fee simple interest of each of
the subject properties, individually, at the highest and best use. The function of the appraisal
report is for use in negotiations for potential purchase of the subject properties, as well as
government grants to acquire the sites.
APPLICABLE LAW AND PUBLIC POLICY:
The provisions of 163.3167(11) F.S. which state "Each local government encouraged to
articulate a vision of the future physical appearance and qualities of its community as a
component of its local comprehensive plan. The vision should be developed through a
collaborative planning process with meaningful public participation and shall be adopted by the
governing body of the jurisdiction."
CONSIDERATIONS:
· The subject properties were included in the Town Center District boundary as indicated
on page 2 of the Town Center District Code (dated November 5, 1998).
· In a letter dated October 29, 1998 Mr. Leerdam requested that the subject properties be
taken out of the Town Center District
DECEMBER 14, 1998
CONSENT AGENDA ITEM D
Page 2
FUNDING:
. The charge for the appraisal report of the subject properties is $3,500. This will be
charged to the Central Fund Reserves, reimbursable from future Town Center
development funds.
STAFF RECOMMENDATION:
Staff recommends the Commission authorize the City Manager to order an appraisal of the
subject properties.
ATTACHMENTS:
. Proposal to perfonn professional appraisal Services from Pardue, Heid, Church,
Smith & Waller, Inc., dated December 2, 1998.
COMMISSION ACTION:
i.
E.E. Waller, Ill, MAl. SRA
Slala-Cartlflad Genaral Appralsar 0000087
William P. Pardue, Jr.. MAl, SRA
Sfale.Certified General Appralsar 0000282
Robert L. Heid, MAl, SRA
Slafe-Certifled General Appraiser 0000043
Larry A. Church, MAl, SRA
Slate-Certified General Appraiser 0000599
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PARDUE-HElD
CHURCH-SMITH
"~~ WALLER, INC.
l...____ '. __ _,' , --,
Grant W. Austin, MAl
Slate-Certified General Appraiser 0001771
APPRAISERS - REALTORS
CONSULTANTS-MARKET ANALYSTS
u___;
December 2, 1998
Charles C. Carrington, Community Development Director
City of Winter Springs, Florida
1126 E. State Road 434
Winter Springs, Florida 32708
Fax: 407/327-7180
Re: Proposal to Perform Professional Appraisal Services on two (2) parcels owned by
Springs Land Inv. Ltd. and one (1) parcel owned by Jessup Shores Partnership, in
Winter Springs, Seminole County, Florida, per the accompanying maps.
Dear Mr. Carrington:
Thank you for allowing Pardue, Heid, Church, Smith & Waller, Inc. to provide a quote on the
above-referenced assignment.
As I understand the assignment, we are to conduct a complete summary appraisal of the subject
properties as of a current date,
The purpose of the appraisal is to estimate the market value of the fee simple interest of each of
the subject properties, individually, at the highest and best use. DefInitions of these appraisal
terms are included herewith. The function of the report is to for use in negotiations for potential
purchase of the subject properties, as well as government grants to acquire the sites.
The appraisal report will be prepared in conformance with the Uniform Standards of Professional
Appraisal Practice of the Appraisal Foundation and subject to "General Assumptions" and
"General Limiting Conditions", copies of which are attached herewith.
The report will be provided in one book. Our fee for conducting the complete, summary report
will be $3,500. Delivery will be witl\\B ~~~~I(~fter authorization to proceed.
ORLANDO, FLORIDA 32804-7199
(407) 841-3602' FAX (407) 841-1543
www.phcsw.com
phcsw .orl@lnlernetMCI.com
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TAMPA
STUART
AFFILIATED OFFICES IN FLORIDA:
WEST PALM BEACH JACKSONVILLE
FT. LAUDERDALE
..
Page 2
December 2, 1998
The fee includes seven (7) original copies of the report and a reasonable amount of incidental
consultations in connection with the assignment. Should exceptional consultations, meetings, or
expert testimony be required, our hourly billing rate, exclusive of any out-of-pocket expenses, are
$175 per hour for an MAl/principal, $150 per hour for a Senior Appraiser, $100 to $125 per hour
for an Associate (depending upon experience level) and $75 per hour for' Research Staff. .
We may require additional information from you in order to complete our report, such as surveys,
updated surveys, soils, wetland reports, etc. We trust you will provide such data and any other
information in your possession that may be pertinent to the valuation of the properties early on in
the appraisal process so that it can be fully considered.
I have enjoyed working with you in the past, and I look forward to hearing from you. If you wish
to discuss this proposal further, I can be reached at (407) 841-3602, extension 380.
You may engage our services by signing this proposal letter and returning it to me via facsimile
(407-841-1543), with an original sent by mail.
Sincerely,
PARDUE, HElD, CHURCH, SMITII & WALLER, INC.
!~M .
State-Certified General Appraiser 0001590
MDD:cls
I hereby authorize PARDUE, HElD, CHURCH, SMITH,
& WALLER, INC. to perform the complete self-contained
appraisal on the property herein described, under the terms
and conditions outlined above.
By:
Date:
Charles C. Carrington (or authorized agent)
Name:
Title:
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PARDUE-HElD
CHURCH-SMITH
& WALLER, INC.
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DEFINITION OF MARKET VALUE
The most probable price which a property should bring in a competitive and open market under
all conditions requisite to a fair sale, the buyer and seller each acting prudently, knowledgeably
and assuming the price is not affected by undue stimulus.
Implicit in this definition is the consummation of a sale as of a specified date and the passing of
title from seller to buyer under conditions whereby: (a) buyer and seller are typically motivated;
(b) both parties are well informed or well advised, and acting in what they consider their best
interests; (c) a reasonable time is allowed for exposure in the open market; (d) payment is made
in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (e)
the price represents the normal consideration for the property sold unaffected by special or creative
financing or sales concessions granted by anyone associated with the sale.'
DEFINITION OF FEE SIMPLE INTEREST
Absolute ownership unencumbered by any other interest or estate; subject only to the limitations
imposed by the governmental powers of taxation, eminent domain, police power, and escheat.2
DEFINITION OF HIGHEST AND BEST USE
The reasonably probable and legal use of vacant land or an improved property, which is physically
possible, appropriately supported, fmancially feasible, and that results in the highest value. The
four criteria the highest and best use must meet are legal permissibility, physical possibility,
financial feasibility and maximum profitability. 3
I AppraisallnslilUle. The Dictionary or Real Eatale Appralsa1. Third Edition. 1993.
'Ibid
'Ibid
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PARDUE-HElD
CHURCH-SMITH
_8c._WALLER, INC.
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GENERAL ASSUMPTIONS
1. The legal description used in this report is assumed to be correct.
2. No survey of the property has been made by the consultant and no responsibility is
assumed in connection with such matters. Sketches in this report are included only to
assist the reader in visualizing the property.
3. No responsibility is assumed for matters of legal nature affecting title to the property nor
is an opinion of title rendered. The title is assumed to be good and merchantable.
4. Information and data furnished by others is usually assumed to be true, correct and
reliable. When such information and data appears to be dubious and when it is critical to
the analysis, a reasonable effort has been made to verify all such information; however,
no responsibility for its accuracy is assumed by the consultant.
5. All mortgages, liens, encumbrances, leases, and servitudes have been disregarded unless
so specified within the report. The property is analyzed as though under responsible
ownership and competent management.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil,
or structures which would render it more or less valuable. No responsibility is assumed
for such conditions or for engineering which may be required to discover them.
7. It is assumed that there is full compliance with all applicable federal, state and local
environmental regulations and laws unless noncompliance is stated, defined and considered
in this report.
8. It is assumed that all applicable zoning and use regulations and restrictions have been
complied with, unless a nonconformity has been stated, dermed and considered in this
report.
9. It is assumed that all required licenses, consents or other legislative or administrative
authority from any local, state, or national governmental or private entity or organization
have been or can be obtained or renewed for any use on which the value estimate contained
in this report is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described and that there is no encroachment or trespass
unless noted within this report.
PARDUE-HElD
CHURCH-SMITH
& WALLER, INC.
=- -;------- -:.:..=
GENERAL ASSUMPTIONS
(Cont'd)
11. We are not expert in determining the presence or absence of hazardous substances, defmed
as all hazardous or toxic materials, wastes, pollutants or contaminants (including, but not
limited to, asbestos, PCB, UFFI, or other raw materials or chemicals) used in
construction, or otherwise present on the property .We assume no responsibility for the
studies or analyses which would be required to determine the presence or absence of such
substances or for 10ss as a result of the presence of such substances.
PARDUE-HElD
CHURCH-SMITH
& WALLER, INC.
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GENERAL LIMITING CONDITIONS
1. The consultant will not be required to give testimony or appear in court because of having
made this analysis, with reference to the property in question, unless arrangements have
been previously made thereof.
2. Possession of the report, or copy thereof, does not carry with it the right of publication.
It may not be used for any purpose by any person' other than the party to whom it is
addressed without the written consent of the consultant, and in any event only with proper
written qualifications and only in its entirety.
3. The distribution of the total valuation in this report between land and improvements, if
any, applies only under the reported highest and best use of the property. The allocations
of value for land and improvements must not be used in conjunction with any other
appraisal and are invalid if so used.
4. No environmental impact studies were either requested or made in conjunction with this
analysis, and the consultant hereby reserves the right to alter, amend, revise, or rescind
any of the value opinions based upon any subsequent environmental impact studies,
research and investigation.
5. Neither all nor any part of the contents of this report, or copy thereof, shall be conveyed
to the public through advertising, public relations, news, sales or any other media without
written consent and approval of the consultant. Nor shall the consultant, firm or
professional organization of which the consultant is a member be identified without written
consent of the consultant.
6. Neither our name nor report may be used in conjunction with any fmancing plans which
would be classified as a public offering under state or federal securities laws.
7. Acceptance of and/or use of this report constitutes acceptance of the foregoing General
Assumptions and General Limiting Conditions.
8. The Americans with Disabilities Act of 1990 sets strict and specific standards for
handicapped access to and within most commercial and industrial buildings. Determination
of compliance with these standards is beyond appraisal expertise and, therefore, has not
been attempted by the appraisers. For purposes of this appraisal, we are assuming the
building is in compliance; however, we recommend an architectural inspection of the
building to determine compliance or requirements for compliance. We assume no
responsibility for the cost of such determination and our appraisal is subject to revision if
the building is not in compliance.
PARDUE-HElD
CHURCH-SMITH
& WALLER, INC.
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QUALIFICATIONS OF LARRY A.CHURCH
Business Address
Pardue, Heid, Church, Smith & WaUer, Inc.
1403 West Colonial Drive
Orlando, Florida 32804
Telephone: (407) 841-3602, Extension 202
Education
B.S. Degree in Business Administration, Real Estate and Urban Land Studies, University of Florida - 1967
J
Completed Real Estate Appraisal Courses under direction of American Institute of Real Estate Appraisers:
Course I
Course II
Course IV
Course VI
- Basic Principles (by examination)
- Urban Case Studies
- Condemnation
- Investment Analysis
Completed under the direction of the Society of Real Estate Appraisers:
Course 10 1
Course 301
- Introduction to Appraising
- Special Applications of Appraisal Analysis
Completed under the direction of the Appraisal Institute:
Course 510
Course 5248
Course 520
(Unnumbered)
(Unnumbered)
(Unnumbered)
- Advanced Capitalization
- Standards of Professional Practice
- Highest and Best Use and Market Analysis
- New URAR
- Appraisal Review
- The Appraiser's Complete Review Seminar
Attended numerous seminars and educational programs on real estate and appraisal subjects sponsored by the
American Institute of Real Estate Appraisers, Society of Real Estate Appraisers and others. Currently certified with
the Appraisal Institute.
Experience
Appraiser with Pardue, Heid, Church, Smith & Waller, Inc. since 1967
Single-family Residences and Residential Subdivisions
Commercial Buildings and Sites
Mobile Home Parks and Subdivisions
Shopping Centers
Campgrounds and RV Parks
Motels and Motel Sites
Hotels and Hotel Sites
Apartment Complexes
Service Stations and Service Station Sites
Multi-Use PUDs
PARDUE-HElD
CHURCH-SMITH
& WALLER, INC.
=-=::=:-~:-~ -.- -__,_._ ..:'::====-::'::-.:.J
QUALIFICATIONS OF LARRY A. CHURCH
(Cont'd)
Professional Designations and Activities
Member (MAl)
State-Certified General Real Estate Appraiser
Member of the Orlando Area Association of Realtors
Registered Real Estate Broker in the State of Florida
Appraisal Institute
State of Florida 0000599
Partial List of Clients
Advance Mortgage Corporation
AmeriFirst Development Corporation
American Mobile Home Corporation
. Aspen Enterprises, Inc.
Atico Mortgage Corporation
Bank of Winter Park
Barnett Bank N.A.
BP Oil Corporation
Carnegie Mellon University
Chase Manhattan Bank, N.A.
Chevron U. S. A.
Citibank, N.A.
City of Orlando
Clayton, Williams and Sherwood
CNA Insurance Company
Colonial Penn Communities, Inc.
ComBank Mortgage
CenTrust Savings & Loan Association
DeAnza Group, Inc.
Dollar Bank
Exxon Company, U.S.A.
Federal Deposit Insurance Corporation
Firstate Financial
First Union National Bank
Florida Department of Administration
Florida National Bank
Florida Residential Communities
Ford Foundation
Federal Home Loan Bank Board
Gibraltar Savings
Gulfco Capital Management, Inc.
Independent Life Insurance Company
McConnell Wetenhall Shopping Centers, Inc.
Merrill Lynch Realty & Relocation
Mobil Oil Corporation
National Bank of St. Petersburg
National Bank of Cleveland
New York Life
NationsBank
Nationsbank, N.A.
Nationsbanc Mortgage
Orange County Board of County Commissioners
Orlando Financial Center
Orlando-Orange County Expressway Authority
Pannell, Kerr, Forster
Paulucci International
Peabody Southeast, Inc.
Penn Mutual Life
Resolution Trust Corporation
Royal Crown Bottlers
Shell Oil Company
Simplimatic Engineering
SouthTrust Bank, N.A.
Standard Oil Company
Sunbank Mortgage Company
Sunbank, N .A.
Texaco, Inc.
Touche-Ross .& Company
Trammel Crow Corporation
Unijax Corporation
Uniroyal, Inc.
Vista Federal Credit Union
Western and Southern Life Insurance Company
Western Electric
PARDUE-HElD
CHURCH-SMITH
& WALLER, INC.
:-::."......--:-::::::-::--':.::::-~-:-:.-,-::-::-:~-~,= ~-: ~:--:~-::-;
QUALIFICATIONS OF MICHAEL D. DABBY
Business Address
Pardue, Heid, Church, Smith & Waller, Inc.
1403 West Colonial Drive
Orlando, Florida 32804
Telephone: (407) 841-3602, Extension 380
Education
(BSBA) University of Florida, Gainesville, Florida
Major in Real Estate and Urban Land Studies; With Honors
University of Southern California, Los Angeles, California
Major in Architecture and Urban Planning
Appraisal Courses and Seminars Sponsored by the AIREA or Appraisal Institute:
- Real Estate Appraisal Principles lA - 1 Sept. 1988
- Basic Valuation Procedures lA - 2 Sept. 1988
- Capitalization Theory & Techniques IB - A Sept. 1988 Part Al
- Capitalization Theory & Techniques IB - B March 1989 Part B
- Case Studies in Real Estate Valuation 2 - 1 March 1989
August 1992
Oct. 1991 (part A)
Oct. 1991 (part B)
July 1992
November 1992
March 1994 (Audited)
February 1995
October 1996 (part A)
October 1996 (part B)
-
Standards of Professional Practice
Standards of Professional Practice
Litigation Valuation
Easement Valuation Seminar
Highest and Best Use and Market Analysis
Report Writing and Valuation Analysis
Standards of Professional Practice
Standards of Professional Practice
-
-
-
.
-
-
-
Professional Seminars
Appraisal Standards and Ethics
National Association of Realtors, July 1994
Key Issues in Wetlands Regulation in Florida
National Business Institute, Inc., March 1992
SPPA
SPPB
4
520
540
410
420
1974-1976
1971-1973
Eminent Domain and Land Valuation Litigation
American Law Institute - American Bar Association, January 1992
PARDUE-HElD
CHURCH-SMITH
& WALLER, INC.
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. QUALIFICATIONS OF MICHAEL D. DAB BY
(Cont'd)
Professional Experience
Senior Commercial Appraiser, Specialist in Land and Emirient Domain
Pardue, Heid, Church, Smith & Waller, Inc., Orlando, Florida, 1987-Present
Land Acquisition Specialist and Research Analyst
First Southern Realty Group, Inc., Orlando, Florida 1980-1987
Staff Research Analyst
Econometrics Corporation, Winter Park, Florida
1979-1980
Licenses, Memberships and Affiliations
Candidate for MAl Designation of the Appraisal Institute - M922463
Florida Real Estate Broker-Salesman 0194663
State-Certified General Appraiser 0001590
Member, Greater Orlando Area Association of Realtors
Member, Florida Association of Realtors
Member, National Association of Realtors
Other
Qualified as an Expert Witness
Maitland Board of Zoning Adjustment
Park Lake Grove Condominium Association, Treasurer
1990-1993
1990-1998