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HomeMy WebLinkAbout041111_ca06 Consent Agenda ~ON --ro ~~;i~i JEFFERSON COUNTY PUBLIC HEALTH . 't;r:!yV1' 615 Sheridan Street. Port Townsend' Washington' 98368 "lJ'.O www.Jeffersoncountypubllchealth.org JEFFERSON COUNTY BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST TO: Board of County Commissioners Philip Morley, County Administrator FROM: Jean Baldwin, Director Tam! Pokorny, Environmental Specialist II )yyn \ \ \ I '2-0\ , DATE: SUBJECT: Dosewalllps Roodplain Acquisition Project Phase II and Mid Hood Canal Acquisition Project: Concurrence and Authorization for Coone and Crowell Properties STATEMENT OF ISSUE: Water Quality staff requests concurrence on Just Compensation values and authorization to initiate negotiations on two of the proposed acquisitions of the Dosewallips Roodplain Acquisition Project Phase II and Mid Hood Canal Acquisition Project. Match has been met previously through the acquisition of other floodplain properties using Secure Rural Schools TItle ill funds. The purpose of the projects is the support of salmon recovery in the Dosewallips RIver. ANALYSIS/STRATEGIC GOALS/PRO'S and CON'S: Just Compensation values for the portions of the Coone and Crowell properties identified for acquisition are presented in the Review Appraiser's Certificates and listed below. Both properties indude floodplain and shorelines associated with the Dosewalllps RIver. The original appraisals and appraiser's reviewer certificates are provided. Staff requests concurrence with the Just Compensation values per acre and further requests authorization to begin negotiations for these properties. Rnal acreages will be determined through the survey process and presented to the BoCC with the Purchase & Sale Agreement(s). COMMUNITY HEALTH DEVELOPMENTAL DISABILITIES MAIN: 360385-9400 FAX: 36G385-9401 PUBLIC HEALTH liWAYS WORKING FOR A SAFER AND HEALTHIER COMMUNITY ENVIRONMENTAL HEALTH WATER QUALITY MAIN: 360385-9444 FAX: 36G3794487 Consent agenda Property SRFB Grant Acreage Assessor's Appraisal Review Owner Parcel Number Value and Conclusion Coone Dosewalllps n 10.2 mil acres Portion of $5,500 per acre (Final acreage to 602344015 (totaling be determined approximately by survey) $56,100) Crowell Mid Hood 15 mil acres Portion of $5,500 per acre Canal (Final acreage to 602341005 (totaling be determined approximately bv survey) $82.500) The SRFB agreement for the Dosewalllps Aoodplain Acquisition Project Phase n (IAC#06- 2288A) was approved by the Board of County Commissioners on March 12, 2007. The SRFB Agreement for the Mid Hood Canal Project (lAC #07-191IA) was approved by the Board of County Commissioners on August 4, 2008. FISCAL IMPACT/COST BENEFIT ANALYSIS: Funding for these acquisitions is being provided by the two Salmon Recovery Funding Board grants listed above. Match obligation has been met through the use of Secure Rural Schools Title ill funds in acquiring the Fulton and Larson properties. RECOMMENDATION: JCPH Management recommends the BoCC sign the concurrence and authorization documents. y/c;{; Date COMMUNITY HEALTH DEVELOPMENTAL DlsABIUTIEs MAIN: 360-385-9400 FAX: 360-385-9401 PUBLIC HEALTH ~(r~~~Gt~PpAMD~I~ ENVIRONMENTAL HEALTH NATURAL RESOURCES MAl N: 360-385-9444 FAX: 350-385-9401 AUTHORIZATION TO PROCEED WITH FLOODPLAINISALMON RECOVERY ACQUISmON DOSEWALLIPS FLOODPLAIN ACQUISmON PROJECT PHASE n COONE PROPERTY :Based on the Review Appraiser's Certificate from Joseph H. Granger dated March 9, 2011 for fee-simple acquisition of a portion of the Coone Property near Brlnnon,. W A, the Board of County Commissioners of Jefferson County does hereby indicate its concurrence and give authorization to Water Quality Division to begin negotiations for the designated property. We understand that the total Just Compensation value will be calculated from the results of a professional survey of the portion of the property to be acquired, and this figure will be reflected in a Purchase and Sale Agreement to be considered by the Commissioners at a future date. In addition, we understand that the proposed land division is allowable under JCC 18.35.040(4). Parcel Just Compensation (Offer) Larger contiguons portion S5,soo per acre for 10.2 mil acres of Assessor Parcel #602344015 located south of the DosewalIips River . Dated this day of .2011 JEFFERSON COUNTY BOARD OF COMMISSIONERS John Austin, Chairman Approved as tJ. form only: J~<A~t!"~" SEAL: ATIEST: Lorna Delaney CIeri;: of the Board Date . AUTHORIZATION TO PROCEED WITH FLOODPLAIN/SALMON RECOVERY ACQUlSmON MID HOOD CANAL ACQUlSmON PROJECT CROWELL PROPERTY Based on the Review Appraiser's Certificate dated March 9, 2011 for fue.-simple acquisition of a portion of the Crowell Ptopelty near Brinnon, the Board of County Commissioners of Jefferson County does hereby indicate its concurrence and give anthorization to Water Quality Division to begin negotiations for the designated property. We understand that the total Just Compensation value will be calculated from the results of a professional survey of the portion of the property to be acquired, and this figure will be reflected in a Purchase and Sale Agreement to be considered by the Commissioners at a future date. In addition, we understand that the proposed land division is allowable under JCC 18.35.040(4). Parcel Just Compensation (Offer) Portion of Assessor $5,500 per acre for 15 mil acres Parcel # 602341005 to include predominantly floodnlaln and slone. Dated this day of .2011 JEFFERSON COUNTY BOARD OF COMMISSIONERS John Austin, Chairman Approved as 1.,) form only: (). 3 J3 1 001/ kfferson Co. Prosecutor OffkJ SEAL: ATTEST: Lorna Delaney Clerk of the Board Date ;j - ~ . .... REVIEW APPRAISER CERTIFICATE Project: ilosewaDips River Floodplain Acquisition n Mid-Hood Canal Acquisition Project Property Owner: UerJa G. Coone Owner's Address: 575 DosewaDips RoBd, Brinnon, W A. 98320 Property AddresslLocation: 575 DosewaDips Road, Brinnon, W A 98320. Parcel Tax Nos. 60Z344009, 010, 015, 023 in Jefferson County, WA Thefo/lowing appraisal has been made on the subjectproperty t111d is the subject ojt/ris review: APPRAISER VALUEDA'lll JIEFllRBVALUE AFlERVALUE VALUE DIFFERENCI! AfT lY"ATION L G.L. Goocb\mD 1-10-2011 $280,000 $244,000 $36.000 TAKING DAMAGES SPIlCJlENEFITS $56,100 NA $20,100 1, the review appmiser, certify to the following: 1. The above appraisal report bas been reviewed by the umletsigned and waS found to have followed accepted "I'1".m..J principles . and techniques In the valuation of real property In accordance with existing Slate law. 2. That the clelermination of vaItie wblch is setforth below bas been independently reacI100 based on appmisals and other faciuat data of record without collaboratlon or direction. The analyses, opinions. and conclusions In !his review report are Umited . Only by the assumptions and limiting conditions stated in !his review report, and are my personal, unbiased professional analyses, oplniOJIS, and conclusions. 3. I have no direct or indirect pti:sent or contempJated futon: pi:monaI Interest In such property or In any benefit from !be acquisition of such property appraised, and I have no personaI Interest or bias with respect to the parties Involved. 4. I did personally Inspect the subject property to be acquired and a '''I''..s..illlItive sample of the """'l""..bIe lI3ies appllcable thereto on Man:h 4, 2011. 5 My compensa1ion Is not contingent on an aclIon or event resulting from the analyses, opinions. or conclusions m.. or the nse of, tbis review report. 6. Appraisal fJl and my analyses, opinions. and conclusions were developed and !his review report was l""jAt...! In conformity with the UrdformStandartls ojProfessionalAppraisal Pracdce and with the UtdfonnAppraislll Standards For Federal lm1d AcquIsitions. 7. Any fads andIordata 1".......dOO by the review appraiser and used In the review proc.ess are true and correct. 8. No one provided significant professional "'lIri$mCe to the peISOIl signing !his review report. 9. I further certify that if !his certificate is to be used In coqjunctlon with a FedeI1li aid proj~ all of the approved jast compensation is eligible for Fedeta1 reimbursement. Just Compensation Is: Land Taken in Fee: 10.2 mil acres @ $5.500 per acre Taken Timber Contribution (in land value): T~tal Just Compensation for this larger parcel = $ 56,100 (R) $ 0 $ 56,100. = = . W A Slate Certified General realeslale appraiser number. General fJ 1100549 osephH. Granger, Review Appmiser Date Signed: March 9, 2011 J.H. Gnmger, RsvIeWer Page 1 of 4 Pages Pame1:Coone . . / " APPRAISAL REVIEW CONCLUSIONS The subject larger parcel is correctly determined in the appraisal as a 50.87 mil acre tract of Dosewallips River front land encumbered with steep topography, river setbacks, flood plains, a majorpowerline easement, and wetlandslbuffers. h is cw..",t1y improved with two homes, one of which is a manufactured home. The land's highest and best.use is supported in the appmis8.1 as to hold for eventual residential development per zoning, demand. physical features, and trends. Thns, all of its existing improvements fully contribute value to the land. The appmisal problem is a partial taking of 10.20 acres in fee simple title of the part of the ownership lying south of its river frontllge. Located within the taking are a few merchantable trees (timber stumpage). All of the major improvements are located a significant distance from the proposed taking and are.thus unaffected by the taking/project. The pmpose of the taking is for water quality enhancement/protection and salmon enhancement/protection. Since tllt; project will benefit the public and the environment in genei'al, there are only general benefits caused by the project, and thus there are no special benefits to the larger parcel remaindei caused by the proposed project. There are also no ascertainable severance damages caused by the taking/project. Appmisal II is a complete appraisal assignment i1i a self-contained report utTlizing the Before and After appraisal procedure. While this assignment, report, and procedure follow USP AP, federal, and state standards for partial land acquisitions, the Before and After procedure can rarely result.in general benefits incorrectly being part of just compensation (only special benefits can be part of just compensation per W A stste and federal rules). Appraisal #1 processes a. Sales Comparison Approach to value the land as vacant in the Before situation; no other approach is appropriate or typicaL h analyzes and compares 6 large land sales and one listing in the vicinity/neighborhood, concluding raw land value at $5,500 per acre overall, or $280,000 (R) for the subject's 50.87 acres; this is reasonable and supported. In the After situation, Appmisal #1 processes a Sales Comparison Approach to value the land as vacant; no other approach is appropriate or typical. It analyzes and compares the same 61arge land sales and one listing in the vicinity/neighborhood used in the Before situation, but concludes raw land value at $6,000 per acre overall, or $244,000 (R) for the subject remainder's 4{).67acres, due primarily to a change in size. While this $500 increase in the per acre land value is supportable in the market as Fair Market Value, itestsblishes special benefits that are cansed by the taking, which is not allowed per WA State v Templermin and per the Uniform Appraisal Standards For Federal LandAcquisitions. Appraisal #1 's consultation with a professional forester concludes that the take contains no merchan1Bble timber beyond aesthetic contnllUtion to (mc1uded in) the iaw land value; this is reasonable and supported. There are several typographical errors in the appraisal but their correction would not alter the value conclusions reached, The reviewer removes the unlawful special benefits and rounds all calculations per the prudent market There are no personalty (chattel) items or tenant-owned realty items takenlatfected. The appraisal and this re~ use the correct methods and techniques. The market data in the appraisal are adI!qnate and appropriate to solve the appraisal problem. The value conc1nslons in this re-riew are reasonable and fit the market evidence. J.H. Granger, RevIewer Page 2 at 4 Psges Pan;eJ, Coone ;I' ,,,; ~ '. . APPRAISAL REVIEW SALIENT INFORMATION Property .Rights A{lp~. th .h...... ~........;....l . the"" . l' " Unless specified otherwIse m UJJS reVIew," e property DC'""" "1:'1:"""-' constitute .ee stmple interest. Date of Value The effective date of the value opinion for the property in this review is 1-10-2011. Competency of Reviewer The reviewer has both the knowledge and experience required to cOmpetently perform this review; a detailed resUme is available upon request. The reviewer is approved by the Federal Highway Administration, Washington State TrdUl>pUll..tion Department, and the lAC to perform fee appraisal reviews for public agencies in Washington State. The reviewer is a state eert:itiedappraiserwith theGeneml da...mcation (expires 1-13-12). . Purpose of this Review ." OveraII, the purpose is to emmate the Just Compensation due the larger parcel owner for a partial taking as of 1-10-2011. " " " This is done by: P.!<timating the Fair Market Value Of the larger parcel in the Before situation; estimating the Fair Marlret Value of the larger parcel remainder in the After situation; Subtracting the latter from the former; and removing any unlawful just compensation items th"..alUllJ. Use of this Review It is und",lltuud that this Reviewer's Certificate will be used for acquisition I funding pm:poses by the client, Jefferson County. Scope of this Review Those commonly recognized valuation methods and techniques most al1l'Joj.>l1ate for valuing the subject properties were dime in this review. This review involved a reasonably detailed inspection of the subject property, the subject " neighborhood, and surrounding/cori1peting neighborhoods. Sales and listings of competing properties were investigated before any conclusions of value were made. The Income and CostApproaches to value were not employed for land valuation in this review because said approaches are not market typical forthe subject's type ofland, and because the Sales Comparison Approach is sufficient to solve the subject land value appraisal problem. Definition of Fair Market Value "Fair Market Value" is the amount"in cash which a well-informed buyer, willing bnt not obliged to bnythe 1'.c,per1y, would pay, and which a well-informed seller, willing but not obligated to sell it would accept, taking into considerntion all uses to which the property is adapted and might in reason be applied. (Washington Pattern Instruction 150.0S). " J.H. Gnmger, Reviewer Page 3 014 Pages pan:eI:Coone ~. . . .. / , ~ APPRAISAL REVIEW ASSUMPTIONS & LIMITING CONDmONS 1. The property descriptions supplied to the reviewer are assumed to be correct; 2. No surveys of the properties have been made by the reviewer and no responsibility is assumed in connection with such matters. Maps in the appraisal are included only to assist the reader in viol1"li7.ing the properties. Property dimensions and sizes shonld be considered approximate; 3. No responsibility is assumed for matters of a legal nature affecting title to the property, noris any opinion of title rendered. Property title is assumed to be good and merchantable and vested as noted; 4. Information fumisIied by others is assumed to be true, correct ,and I'!iliable. A reasonable effort has been made to verify such information; however, no responsibility for its accuracy is a."",.rne(J by the reviewer; 5. All mortgages, liens, encumbrances, leases, and servitudes have been disregarded noless so specified in review. The ProPerties are assumed to be under responsible ownership and competent management; . 6. It is assumed that there are no hidden or unapparent conditions of the properties, their subsoil, or their structures which wonld render them more or less valuable. No responsibility is assumed for such conditions orfor engineering ortesting which may be required to discover them; 7. Unless otherwise stated. the existence of hazardous material, which mayor may not be present in or on the properties, was not observed by the reviewer. The reviewer has no knowledge of the existence of such materials on or in the properties. The reviewer, however, is not qualified to detect such substances. The presence of any potentially hazardous materials may affect the value of the properties. The value estimates in this review are predicated on the assumption that there is no such material on or in the I'lUjlI;>rties that would cause a loss in value. No responsibility is assumed for any such conditions, or for the expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field if desired. 8. Unless otherwise stated, no environmental impact studies were either requested or made in conjunction with this review, and the reviewer hereby reserves the right to alter, amend, revise, or rescind any of the value opinions based upon any Slibsequent environmental impact studies, research, or investigation; 9. It is assumed that there is full compliance with all applicable federal, state, and local environmental regulations and laws noless.noncompJiance is specified, defined, and considered in this review; 10. It is assumed that all applicable zoning and use regulations and restrictions have been complied with. noless nonconformity has been specified, defined, and considered in this review; 11. It is aOOl.""", that all required licenses, consents, or other legislative or administrative authority from any local, state, or nations! governmental or private entity or organization have been or can be obtained or renewed for any useon~chthevalueestimatescontainedinthisrevieware~ 12. The reviewer will not be required to give te<VlJlnny or appear in court because of having made this review unless arrangements have been previously made therefor; 13. Possession of this review or a 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 client without the writtl:n cousent of the reviewer and in any event, only with properly written qualification and only in its entirety; . . . 14. Neither all nor any part of the contents of this review, or copy thereof, shall be conveyed to the public through advertising, public relations, uews, sales, or any other media without written consent and approval of the reviewer. Nor shall the reviewer, client, firm. or professional org;mi7>lnon of which the reviewer is a member be identified without the written consent of the reviewer; 15. The liability of the reviewer, ell1ployees, and subcontrsctors is limited to the client only. There is no accountability, obligation, or liability to any third party. If this review is placed in the bands of anyone other than the client, the client shall make such party aware of all limiting conditions and assumptions of the assignment and related discussions. The reviewer is in no way responsible for any costs incurred to discover or correct any deficiencies in the properties; . 16. Acceptance andlor use of this review constitutes acceptance of the foregoing assumptions and limjting conditions. J.H. Granger, Reviewer Page 4 at 4 Pages ParceJ:Coone " .. REVIEW APPRAISER CERTIFICATE Project DosewaDips River Floodplain Ac:quIsition n Mid-Hood Canal AcqBisition Project Property Owner: J!JplJnnl'Mae Crowell Owner's Address: 1131 Dosewal1ipS Road, Drinnon, W A' 98320 Property AddresslLocatioo: 1131 DosewaDips Road, Briimon, W A 98320, Parcel TaX No. 602341005 in . Jefferson County, WA The jolJowfng apf1TfliJJ(I11w been matl8 on the 31IhJed property tmd is the 31IhJed ojrlds review: APPRAISER . VALUBDATE JIEIlORBVALUB APlt!R VALUB vALllil D!FFIllIIlNCB TAI!JNG Al1.twA'T'fnN' DAMAGES NA SPEC.BENIlF1TS $10,500 L G.L. (;oodm....l.lG-2011 , $197,000 $125,000 $72,000 $82,500 1. the review appraiser, certify to the following: . 1.' The above appndsal reporthas been reviewed by the under.dgned and was found to bave folloWed accepted apprnisaI principles and techniques In the valuation of real property In ,.....".:Lul.ce with existing Stale Jaw. 2. That the MP.ntllmrtion of value wblch Is set forth below has been independently reached based on appraisa1s and other factual data of record withontcollaboration ordirection. The analyses, opinions, and conclusions In this review report are Iimlted only by the assumptions and Ilmitiog conditions sIaIed In thi,s review report. and are my personal. unbiased professional aDaiyses, opinions. and conclusions. 3. I bave no direct or Indirect present or contemplated fuIun: persona1lnterest iri such property or In any beneIit from the acq1Iim1ion of such property appralsed. and I have no persona1lnterest or bias with respect to the parties Involved. . 4. I did persona11y lnspect the subject property to be acquired and a represenlalive sample of the <;UWJ!'Uable sales appIlcable thereto on MOrch 4, 2011. 5 My lX>u1jloillSl11ion is not conIIngent on an action or event resulting from the analyses, opinions. or conclusions in, or the use of, thi,s revlew report. 6. Appmisal #1 and my analyses, opinions. and conclusions were deVeloped and thi,s review report was prepared In conformity with the Unifimn Stantlmds of Projessiono1 Appraisal Proctice and with the UniformAppraisal Sttmrlords For FederuJ.lond Acquisitions. . . 7. Any facts andIordala I"~ by the review. appraiser and used In the revieW process are !rue and correct. . 8. No one provided slgJilficant professional -"""'co to the person signing thi,s review report. 9. I further c:ertirY that if thi,s certificare Is to be used in COJlium:1ion with a FedemI aid ptqjec:t, aD of the approved just compensation Is eligible for Federa1 reimbursement. Just Compensation is: Land Taken in Fee: 15.0 mil acres @ $5,500 per acre Taken TImber Contribution (in land value): Total Just Compensation for' this larger parcel W A Slate Cerllfied General real estate appraiser number. Geneml # 1100549 = $ 82,500 = $ 0 = $ 82,500. ,( b II. Gmnger, Review Apprnlser Date Signed: March 9, 2011 J.N. Gnmget; Re\f<,...... Page 1 at 4 Pages Psn:eI: Crowell ~ APPRAISAL REVIEW CONCLUSIONS The subject ~ parcel is correctly determined in the appraisal as a 35.77 Dill acre tract ofland encumbered with steep topography, river ovedlow channel, and wetIandslbuffers. It is currently improved with an older home, several outbuildings, and some fence. The land's highest and best use is supported in the appraisal as to hold for eventual residential development per zoning, demand, physical features, and trends. Thus,;tI1 of its existing inqirov"wcrd:lo fully contribute value to the land. The appraisal problem is a partial taking of 15.0 acres in fee simple title off its southew. end Located within the taking are some merchantable trees (timber stumpage ). All of the nuyor improvements are located a significant distance from the proposed taking and are thus unaffected by the takingfproject. The pmpose of the taking is for water quality enhancement/protection and salmon enhancement/protection. Since the project will benefit the public and the environment in general, there are only general benefits cansed by the project, and thus there are no special benefitS to the larger parcel remain"e~ Caused by the proposed project. There are also no ascertainable severance damages cansed by the taking/project.. Appraisal #1 is a complete appraisal assignment in a self-contained ~ utilizing the Before and After.appraisal procedure. While this assienment, report, and procedure follow USPAP, federal, and state standards for partial land acquisitions, the Before and After procedure can rarely result in general benefits incorrectly being part of just compeusation (only special benefits can be part of just compeusation per W A state and federal rules). Appraisal #1 processes a Sales Comparison Approach to value the land as vacant in the Before situation; no other approach is appropriate or typical. It analyzes and compares 6 large land sales and one listing in the vicinity/neighborhood, concluding mw land value at $5,500 per acre overall, or $197,000 (R) for the subject's 30.77 acres; this is reasonable and supported. In the.After situation. Appraisal #1 processes a Sales Comparison Approach to value the land as vacant; no other approach is appropriate or typical. It analyzes and compares the same 6 large land sales and one listing in the vicinity/neighborhood used in the Before situation, but concludes mw land value at $6,000 per acre overall, or $125,000 (R) for the subject remain~s 20.77 acres, due prhnariIy to a change in size. While this $500 increase in the per acre land value is supportable in the market as Fair Market Value, it establishes special benefits that are caused by the taking, which is not allowed per WA StaJe v Templemcin and per the Unifurm APpraisal Standards For Federal Land Acquisitions. Appraisal #1 's consnItation with a professional forester concludes that the take contains no merchantable timber beyond aesthetic contribution to (mcluded iD) the mw land value; this is reasonable and supported. There are sevem! typogmphical errors in the appraisal but their correction would not alter the value conclosious reached. The reviewer removes the unlawful special benefits and rounds all calcnlations per the prudent m;rrket There are no personalty (chattel) items or tenant-owned realty iteJtts taken/affected. The appraisal ~d this review use the correct methods and techniques. The market data in the appraisal are adequate and appropriate to solve the appraisal problem.: The value concJnsions in this re~ew are rell""....hle and fit the market evidence. J.H. GI'IBI!ier, Rev/ewer Page 2 014 Pages Pan:el: Crowell . ./ . APPRAISAL REVIEW SALIENT INFORMATION Prope~~thts A{Jp~~ . th -.ghts 'sed . th'" . l' Unless .,t""'~ed o. erwISe m """ reVIew, e property n apprm constitute e.ee sunp.e interest. Date of Value The effective date of the value opinion for the property in this review is 1-10-2011. Competency of Reviewer . The reviewer has both the knowledge and experience required to competently pelform this review; a detailed resume is available upon request. The reviewer is approved by the Fedeml JIighway Adminimmon, Washington State TranspuJlld:ion Department, and the lAC to p<>rfutlll fee appmisal reviews for public agencies in Washington State. The reviewer is a state certified appmiser with the General clAl<qjfj.....tion (expIreS 1-13-12). - Purpose ofihis Review Overnll, the purpose is to estimate the Just Compensation due the larger parcel owner for a partial taking as of 1-10-2011. This is done by: estimating the Fair Market Value of the larger parcel in the Before situation; estimAting the Fair Market Value of the larger parcel remainder in the Aftl;r situation; subtIacting the latter from the fonner; and removing any unlawful just compensation items therefrom. Use oftbis Review It is understood that this Reviewer's Certificate will be used for acquisition I funding purposes by the clieJ).t, Jefferson County. Seope oftbis Review Those commonly recognized valuatiO!1 methods and teclmiques most ap!>w(>liate for valuing the subject properties were done in this review. This review involved a reasonably detailed inspection of the subject property, the subject neighborhood, and surrounding/competing neighborhoods. Sales and listings of competing properties were investigated before any conclusions of value were made. - The Income and Cost Approaches to value were not employed for land valuation in this review bec;mse said approaches are not mar.ket typical for the subject's type of land, and ~pse the SaIes Comparison Approach is sufficient to solve the subject land value appraisaI problem. Definition of Fair- Market Value "Fair Market Value" is the amount in cash which a well-informed buyer, willing but not obliged to buy the fnoperty, would pay, and which a well-informed seller, willing but not obligated to sell it would accept, taking into consideration all uses to which the property is adapted and might in reason be applied. (Washington Pattern Instruction 150.08). - J.H. Granger, RevIewer Page 3 of 4 Pages Ptm:el: Crowell ~ , ." APPRAISAL REVIEW ASSUMPTIONS & LIMITING CONDmONS 1. The property descriptions supplied to the reviewer are assumed to be correct; 2. No surveys of the ploperties have been made by the reviewer and no responsibility is assumed in connection with such matters. Maps in the appraisal are included only to assist the reader in visualizing the properties. Property dimensions and sizes shonld be considered approximate; 3. No responsibility is assumed for matters of a legal nature affecting title to the property, nor is any opinion of title rendered. Property title is assumed to be good and merchantable and vested as noted; 4. Information furnished by others is assumed to be true, correct , and reliable. A reasonable effort has been made to verify such information; however, no responsibility for its accuracy is assumed by the reviewer; . S. AIl mortgages, liens, encumbrances, leases, and servitudes have been disregarded unless so specified in review. The properties are assumed to be under responsible ownership and competent management; 6. It is as","ried that there are no hidden or unappllIeJlt conditions of the properties, their subsoil, or their structures whic;h would render them more or less valuable. No responsibility is assumed for such conditions or for engineering or testing which may be required to discover them; 7. Unless otherwise stated, the existence ofbazardous material, which may or may not be present in or on the properties, was not observed by the reviewer. The reviewer has no knowledge of the existence of such materials on or in the properties. The reviewer, however, is not qualified to detect such substances. The presence of any potentially hazardous materials may affect the value of the properties. The valueP.RfimatAA in this review are predicated on the assumption that there is no such material on or in the properties that would cause a loss in value. No responsibility is assumed for any such conditions, or for the expertise or engin\lllring knowledge required to discover them. The client is urged to retain an expert in this field if desired. . 8. Unless otherwise stated, no environmental impact studies were either requested or made in conjunction with this review, and the reviewer hereby reserves the right to alter, amend, revise, or reScind any of the value opinions based upon any subsequent environmental impact studies, research, or investigation; 9. It is lL~ that there is full compliance with all applicable federal, state, and local environmental regulations and laws unless noncompliance is specified, defined, and considered in this review; 10. It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless nonconformity has been specified, defined, and considered in this review; . 11. It is assumed that all required licenses, consents, or other legislative or administrative authOrity from any local, state, or national governmental or private entity ot organization have been or can be obtained or renewed for any use on which the value e>dimAfp.g contained in this review are based; 12. The reviewer will not be required to give testimony or appear in court because of having made this review unless arrangements have been previously made therefor; . 13. Possession of this review or a copy thereof, does not cany with it the right of publication. It may not be used for any purpose by any person other than the client without the written consent of the reviewer and in any event, only with properly written qualification and only in its entirety; 14. Neither all nor any part of the contents of this review, or copy thereof, shaIl be conveyed to the public through advertising, public relations, news, sales, or any other media without written consent and approval of the reviewer. Nor shall the reviewer, client, firm, or professional organization of which the reviewer is a member be ideatified without the written consent of the reviewer; 15. The liability of the reviewer, employees, and subcontractors is limited to the clieut only. There is no accountability, obligation, or liability to any third pm1y.1f this review is placed in the hands of anyone other than the client, the client ShaII make such party aware of all limiting conditions and assumptions of the assignment and related discussions. The reviewer is in no way responsible for any costs incurred to discover or correct any deficiencies in the pmperties; . . 16. Acceptance and/or use of this review constitutes acceptance of the foregoing assumptions and limiting conditions. J.H. Grrmger, Rsviewer Page 4 of 4 Pages PsrceI:Crowell