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Agenda 09/15/2009 Item #16B 8 Agenda Item No. 16B8 September 15, 2009 Page 1 of 99 EXECUTIVE SUMMARY Recommendation to approve an Easement Agreement for the purchase of a Perpetual Road Right-of-Way, Drainage, and Utility Easement which is required for the Collier Boulevard Project. Project No. 68056, Parcel No. 129RDUE (Fiscal Impact: $30,625.00). OBJECTIVE: To obtain the Board of County Commissioners' approval of an Agreement to purchase a sixty foot (60') Road Right-of-Way Drainage and Utility Easement (RDUE) to the County, that is required for the Collier Boulevard Project (Project No. 68056). CONSIDERATIONS: Collier County is seeking to obtain a 60 foot wide Road Right-of-Way Drainage and Utility Easement across the property frontage which is owned by Thomas R. Westby and Sunny M. Westby. The 2.73 acre parent tract is improved with a single family home on White Boulevard, and there are site improvements taken within the proposed easement area. The legal description of the easement is attached to the Easement Agreement as Exhibit "A." There are two project resolutions in place; the Gift and Purchase Resolution No. 2007-326 approved on November 13, 2007 as Agenda Item No. lOB and the Condemnation Resolution No. 2008-353 approved on December 2, 2008 as Agenda Item No. JOB. On or about February 25, 2008, the County received an appraisal for the required property in the amount of $29,300. On June ]9, 2008, Collier County made an offer to purchase the required property for the sum of$29,300. The Westbys entered into negotiations with the County and both parties ultimately agreed to the purchase price of $29,300 in May 2009. The Westbys were refinancing their mortgage and delayed returning their Easement Agreement until August 1, 2009. On August 4, 2009, Transportation's Review Appraiser, Harry Henderson SRA, prepared a valuation memorandum indicating the current market value of the easement at $17,200. Staff recommends that the Board of County Commissioners purchase the subject property from the Westbys for $29,300 as there are no attorney or expert witness fees, a purchase now at $29,300 would avoid the usual costs to the County associated with taking property later through condemnation (filing fees, service of process on all interested parties, an appraisal update, mediation expenses, and the time of the staff of the County Attorney's Office). FISCAL IMPACT: The fiscal impact is $30,625 which includes the $29,300 negotiated purchase price, plus title insurance, bank fees and recording fees not to exceed $1,325. Source of Funds are Gas Taxes and Impact Fees. GROWTH MANAGEMENT IMPACT: This project is consistent with the Long Range Transportation Plan and the Collier County Growth Management Plan. LEGAL CONSIDERATION: This item is legally sufficient for Board action, is not quasi-judicial and as such, ex-parte disclosure is not required. This item requires only a majority vote. - JBW Agenda Item No. 16B8 September 15, 2009 Page 2 of 99 RECOMMENDATION: That the Board of County Commissioners of Collier County, Florida: 1. Approve the attached Easement Agreement and authorize the Chairman to execute same on behalf of the Board; 2. Accept the conveyance of Parcel 1292RDUE (Road Right-of-Way Drainage and Utility Easement) and authorize the County Manager or his designee to: (a) take the necessary measures to ensure the County's performance in accordance with the terms and conditions of the Agreement: and (b) to record same in the public records of Collier County, Florida; 3. Authorize the payment of all costs and expenses necessary to close the transaction; and 4. Approve any and all budget amendments, which may be required to carry out the collective will of the Board. Prepared by: Margaret Kreynus, Senior Property Acquisition Specialist, TECM Attachments: (I) Easement Agreement with Exhibit "A"; (2) Aerial View of the Property (3) Appraisal; (4) Valuation Memorandum ... ....0"'" ... ........ ~ Agenda Item No. 16B8 September 15, 2009 Page 3 of 99 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS Item Number: Item Summary: 16B8 Meeting Date: To obtain Board of County Commissioners approval of an Agreement to purchase a sixty foot (60) Road Right-aI-Way Drainage and Utility Easement (RDUE) to the County, that is required lor the Collier Boulevard Project. (Project No. 68056). ($30,625) 9/15/2009 9:00:00 AM Prepared By Margaret Kreynus Property Acquisition Specialist Date Transportation Services TECM-ROW 8/24/2009 3:50:25 PM Approved By Margaret Kreynus Property Acquisition Specialist Date Transportation Services TECM-ROW 8/24/2009 3:50 PM Approved By Lisa Taylor ManagementlBudget Analyst Date Transportation Services Transportation Administration 8/25/2009 8:56 AM Approved By Marlene Messam Senior Project Manager Date Transportation Engineering & Transportation Services Construction Management 8/25/2009 9:00 AM Approved By Therese Stanley Grants Coordinator Date Transportation Transportation Administration 8/26/2009 3:42 PM Approved By Jennifer White Assistant County Attorney Date County Attorney County Attorney Office 8/26/2009 4:17 PM Approved By Kevin Hendricks Right Of Way Acquisition Manager Date Transportation Services TECM-ROW 8/27/200912:07 PM Approved By Naieh Ahmad Director Date Transportation Services Transportation Engineering & Construction Management 8/28/2009 9:53 AM Approved By Norm E. Feder, AICP Transportation Division Administrator Date Transportation Services Transportation Services Admin. 8/28/2009 1 :40 PM ~1__11r"_1'" ____J_'T'____IT:______.--\1"A C1_________1._._0/"'^1~ O/"'^"'^^A\lL O/",,,nA"l<.TC1T:lro.T'T'O/"'''...r<T:"l<.T ,,'n '''''''''' .l "0""' J... V.l J... Agenda Item No. 16B8 September 15, 2009 Page 4 of 99 Approved By Jeff Klatzkow County Attorney Date County Attorney County Attorney Office 8/28/2009 3:31 PM Approved By Pat Lehnhard Executive Secretary Date Transportation Services Transportation Services Admin 8/28/2009 3:47 PM Approved By Mark Isackson Budget Analyst Date County Manager's Office Office of Management & Budget 9/1/20096:21 PM Approved By Leo E. Ochs, Jr. Deputy County Manager Date Board of County Commissioners County Manager's Office 9/1/20096:30 PM r.:'1_. //1'.1 A __..;J _'T'__-4-\ 1:'____ __-,-I 1 "A '"' ___-4-____ L __.0/ "(\1 ~ o/.,(\.,(\(\r\\ 1 L 0/ "(\I''''1\. TC'I:'1\. T'T'O/"" A 1'T"'1\. T "/1\'''''(\(\ f Agenda Item No. 16B8 September 15, 2009 Page 5 o~ 99 PROJECT: 68056 PARCEL No: 129RDUE FOLIO No 37992360009 EASEMENT AGREEMENT THIS EASEMENT AGREEMENT, herein aft r referred to as the "A9reement") is made and entered into on this -L- day of , 2009, by' and between THOMAS R. WESTBY and M. SUNNY WESTBY, H sba d and wife, whose mailing address is 3821 White Boulevard, Naples, Fl34117-4127, (hereina er collectively referred to as "Owner"), and COLLIER COUNTY, a political subdivision of the State of Florida, whose mailing address is 3301 Tamiami Trail East, Naples, Florida 34112 (hereinafter referred to as "Purchaser"). WHEREAS, Purchaser requires a perpetual, non-exclusive right-of-way, drainage and utility easement to enter upon and to install and maintain roadway, bike path and sidewalk improvements, drainage structures, including but not limited to ditches, swales, earthen berms, rip- rap and retaining wall systems, underground pipes, various types of water control structures, the right to remove and use any and all excavated material, and any and all manner of public and private utility facilities over, under, upon and across the following described lands located in Colher County, Florida, and described in Exhibit "A~, which is attached hereto and made a part of this Agreement (hereinafter referred to as the "Easement"); and WHEREAS, Owner desires to convey the Easement to Purchaser for the stated purposes, on the terms and conditions set forth herein: and WHEREAS, Purchaser has agreed to compensate Owner for conveyance of the Easement. NOW THEREFORE, in consideration of these premises, the sum of Ten Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby mutually acknowledged, it is agreed by and between the parties as follows: 1. AU of the above RECITALS are true and correct arid are hereby expressly incorporated herein by reference as if set forth fully below, and all Exhibits referenced herein are made a part of this Agreement. 2. Owner shall convey the Easement to Purchaser for the sum of: $29,300.00 subject to the apportionment and distribution of proceeds pursuant to Paragraph 9 of this Agreement (said transaction hereinafter referred to as the "Closing"). Said payment to Owner, payable by County Warrant, shall be full compensation for the Easement conveyed, including all landscaping, trees, shrubs, improvements, and fixtures located thereon, and shall be in full and final settlement of any damages resulting to Owner's remaining lands, costs to cure, including but not limited to the cost to relocate the existing irrigation system and other improvements, and the cost to cut and cap irrigation lines extending into the Easement, and to remove all sprinkler valves and related electrical wiring, and aU other damages in connection with conveyance of said Easement to Purchaser, including all attorneys' fees, expert witness fees and costs as provided for in Chapter 73, Florida Statutes. 3. Prior to Closing, Owner shall obtain from the holders of any liens, exceptions and/or qualifications encumbering the Easement, the execution of such instruments which will remove, release or subordinate such encumbrances from the Easement upon their recording in the public records of Collier County, Florida, At or prior to Closing, Owner shall provide Purchaser with a copy of any existing prior title insurance policies. Owner shall cause to be delivered to Purchaser the items specified herein and the following documents and instruments duly executed and acknowledged, in recordable form (hereinafter referred to as "Closing Documents") on or before the date of Closing: (a) Easement; (b) Closing Statement; (c) Grantor's Non-Foreign, Taxpayer Identification and "GapH Affidavit; Agenda Item No. 16B8 ~~~ber15,2009 Page 6 of 99 (d) W-9 Form; and (e) Such evidence of authority and capacity of Owner and its representatives to execute and deliver this agreement and all other documents required to consummate this transaction, as reasonably determined by Purchaser, Purchaser's counsel and/or title company. 4. Both Owner and Purchaser agree that time is of the essence. Therefore, Closing shall occur within ninety (90) days from the date of execution of this Agreement by the Purchaser; provided, however, that Purchaser shall have the unilateral right to extend the term of this Agreement pending receipt of such instruments, properly executed, which either remove or release any and all such liens, encumbrances or qualifications affecting Purchaser's enjoyment of the Easement. At Closing, payment shall be made to Owner in that amount shown on the Closing Statement as "Net Cash to Seller," and Owner shall deliver the Closing Documents to Purchaser in a form acceptable to Purchaser. 5. Owner agrees to relocate any existing irrigation system located on the Easement including irrigation lines, electrical wiring and sprinkler valves, etc., prior to the construction of the project without any further notification from Purchaser. Owner assumes full responsibility for the relocation of the irrigation system on the remainder property and its performance after relocation. Owner holds County harmless for any and all possible damage to the irrigation system in the event owner fails to relocate the irrigation system prior to construction of the project. If Owner elects to retain improvements and/or landscaping ("Improvements") located on the Easement, the Owner is responsible for their retrieval prior to the construction of the project without any further notification from Purchaser. Owner acknowledges that Purchaser has compensated Owner for the value of the Improvements and yet Purchaser is willing to permit Owner to salvage the Improvements as long as their retrieval is performed before construction and without interruption or inconvenience to the County's contractor.. All Improvements not removed from the Property prior to commencement of construction of the project shall be deemed abandoned by Owner. This provision shall survive Closing and is not deemed satisfied by conveyance of title. 6. Owner and Purchaser agree to do all things which may be required to give effect to this Agreement immediately as such requirement is made known to them or they are requested to do so, whichever is the earlier. 7. Owner agrees, represents and warrants the following: (a) Owner has full right, power and authority to own and operate the property underlying the Easement, to enter into and to execute this Agreement, to execute, deliver and periorm its obligations under this Agreement and the instruments executed in connection herewith, to undertake all actions and to perform all tasks required of Owner hereunder and to consummate the transaction contemplated hereby. (b) Purchaser's acceptance of the Easement shall not be deemed to be full performance and discharge of every agreement and obligation on the part of Owner to be periormed pursuant to the provisions of this Agreement. (c) No party or person other than Purchaser has any right or option to acquire the Easement or any portion thereof. (d) Until the date fixed for Closing, so long 8S this Agreement remains in force and effect, Owner shall not encumber or convey any portion of the property underlying the Easement or any rights therein, nor enter into any agreements granting any person or entity any rights with respect to the Easement, without first obtaining the written consent of Purchaser to such conveyance, encumbrance, or agreement, which consent may be withheld by Purchaser for any reason whatsoever (e) There are no maintenance, construction, advertising, management. leasing, employment. service or other contracts affecting the Easement. (f) Owner has no knowledge that there are any suits. actions or arbitration, administrative or other proceedings or governmental investigations or requirements, formal or informal. existing or pending or threatened which affect the Easement or which adversely affect Owner's ability to perform hereunder: nor is there any other I Agenda Item NO.1 B8 q~tW~ber 15, 2 09 Page 7 of 99 charge or expense upon or related to the Easement which has not been disclosed to Purchaser in writing prior to the effective date of this Agreement. (g) Purchaser is entering into this Agreement based upon Owner's representations stated in this Agreement and on the understanding that Owner will not cause the physical condition of the property underlying the Easement to change from its existing state on the effective date of this Agreement up to and including the date of Closing. Therefore, Owner agrees not to enter into any contracts or agreements pertaining to or affecting the property underlying the Easement and not to do any act or omit to perform any act which would adversely affect the physical condition of the property underlying the Easement or its intended use by Purchaser. (h) The property underlying the Easement, and all uses of the said property, have been and presently are in compliance with all Federal, State and Local environmental laws; that no hazardous substances have been generated, stored, treated or transferred on the property underlying the Easement except as specifically disclosed to the Purchaser: that the Owner has no knowledge of any spill or environmental law violation on the property contiguous to or in the vicinity of the Easement to be sold to the Purchaser, that the Owner has not received notice and otherwise has no knowledge of: a) any spill on the property underlying the Easement; b) any existing or threatened environmental lien against the property underlying the Easement; or c) any laWSUIt, proceeding or investigation regarding the generation, storage, treatment, spill or transfer of hazardous substances on the property underlying the Easement. This provision shall survive Closing and is not deemed satisfied by conveyance of title. 8, Owner shall indemnify, defend, save and hold harmless the Purchaser against and from, and reimburse the Purchaser with respect to, any and all damages, claims, liabilities, laws, costs and expenses (including without limitation reasonable paralegal and attorney fees and expenses whether in court, out of court, in bankruptcy or administrative proceedings or on appeal), penalties or fines incurred by or asserted against the Purchaser by reason or arising out of the breach of any of Owner's representations under paragraph 7(h). This provision shall survive Crosing and is not deemed satisfied by conveyance of title, 9. Purchaser shall pay all fees to record any curative instruments required to clear title, all Easement recording fees, and any and all costs and/or fees associated with securing and recording a Release or Subordination of any mortgage, lien or other encumbrance recorded against the property underlying the Easement; provided, however, that any apportionment and distribution of the full compensation amount in Paragraph 2 which may be required by any mortgagee, lien-holder or other encumbrance-holder for the protection of its security interest, or as consideration due to any diminution in the value of its property right, shall be the responsibility of the Owner. and shaU be deducted on the Closing Statement from the compensation payable to the Owner per Paragraph 2, In accordance with the provisions of Section 201.01, Florida Statutes, related to the exemptions against payment of documentary stamp taxes by Purchaser, Owner shall further pay all documentary stamp taxes required on the instrument(s) of transfer, unless the Easement is acquired under threat of condemnation. 10. This Agreement and the terms and provisions hereof shall be effective as of the date this Agreement IS executed by both parties and shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, personal representatives, successors, successor trustees, and/or assignees, whenever the context so requires or admits. 11. It the Owner holds the property underlying tne Easement in the form of a partnership, limited partnership, corporation, trust or any form of representative capacity whatsoever for others. Owner shall make a written public disclosure, according to Chapter 286, Florida Statutes, under oath, of the name and address of every person having a benefiCial interest in the property underlying the Easement before the Easement held in such capacity is conveyed to Purchaser. (If the corporation is registered with the Federal Securities Exchange Commission or registered pursuant to Chapter 517, Florida Statutes, whose stock is for sale to the general public, it is hereby exempt from the provisions of Chapter 286, Florida Statutes.) 12. Conveyance of the Easement, or any interest in the property underlying the Easement, by Owner is contingent upon no other provisions, conditions, or premises other than those so stated herein; and this written Agreement, including all exhibits attached hereto, shall constitute the entire Agreement and understanding of the parties, and there are no other prior or contemporaneous written or oral agreements, undertakings, promises, warranties, or covenants not contained herein. No modification, amendment or cancellation of this . Agenda Item No. 16B8 ~el1jber 15, 2009 Page 8 of 99 Agreement shall be of any force or effect unless made in writing and executed and dated by both Owner and Purchaser. 13. Should any part of this Agreement be found to be invalid, then such invalid part shall be severed from the Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and not be affected by such invaIJdity. 14. This Agreement is governed and construed in accordance with the laws of the State of Florida. IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written. AS TO PURCHASER: DATED: ATTEST: DWIGHT E. BROCK, Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY. FLORIDA Deputy Clerk BY: DONNA FIALA, Chairman AS TO OWNER: ~ll~~~ Witness (Signature) &~LP"',t:::: tA/~/) NarT)8, (P'I"tor Type) p ;/.)1.. if I ({,7fV'\ 'Mtness (Signature) Gi?t:.\i.ky \(."''''b,,,,S,,,\~ Name (Print or Type) C f.i::1.rJr~ ~ \<.. L \ rl..i ~\. ,..J~;'Nj" 'n+ Name (Print or Type) Approved as to form and legal sufficiency: ASSlst~~:S~ ~\\L :S-Lt-lN \n.~ . f . I , c - -- -r--- _....._-~~...~-,.,~ gen II .16B8 September 1 ,2009 ._!:>age 9 of 99 " , ~ " 8 " .' " " '" % ~ " TRACT 127 GOLDEN GATE ESTATES UNIT 27 PLAT BOOK 7, PAGE 17 " "'l- J\~-- ,- 1\ _-,,, '- r! c o ii-' . 1 " H,ACT 2.S < EAST 180' OF' TRACT 127 WESTBY OR 2335/2773 " ,~. ~- " .' KLlNGI-:,\iSVITH Of~ ]0:;'3/12':0 ~OOF,IGUEZ OR 270iJ/2Tr'G ~ " " f ~ ~ ~ ~ 12 I PROPOSED ROADWAY EASEMENT PARCEL 129RDUE ;o,eoo SQ, FT. , 1- 46+00, 47. 1+00 ,,+ ., 45+00 'I-~I --, l-~- 1- em "'" OITICI/'-l ,,\[c::nDS (B:)UK/F/',GE) 12Q</'1 f7'"""::/i L.U r)RO~)OSEO ,lOADV{.W, DRI',I~V\C::, AND UTIL,rv EASt:Iv':E:W ~RDLt::;' [X::.:TNG RIGHT OF' '.','AY OEDICAr:::D TO THE P[F\~'r::TUAl USE Dr THE F"JGliC peR r'LAl BOOI< 7, PAGE. 17 A FO,"~"[ON O!. TF.:ACT 12/, :;C:;'~DC~ en!:: C~~TAT[S, UI\i: 27 /IS R:~CCRJ:-'::D Ih. Pi.AI :inc.", 7, pueUS F.;~:::::'::El:::; cr' CC:"':.iG':::::Gwl~Tr". I--U":KID.A., L YINe IN S[CTOI,S 11 ;,HD 'I ,~, -()',',NSf--J1:-' 49 E:,\ST, CG:L~R CQUNTY, ,::-CC;f=,IDA BElHG MGRE .pAfmCU:...il,RLY [)[:::;cr.:~I(ED AS :-rJL_O'NS :"EGAL DESCRIPTION FOR PARC::l 129RDUE T:-1E >.J::)r:HI so r:::.u OF --;:--ct: SOUTH 9D FeEl OF .HE EAST 1J';,--" ~-;::T7 OF ";1,'0 '1T~;\CT 1::: 7. ,., Ir;nl /t/! Ij ~:.i 1;)}(r.,~.;; W)ff/~......J.~" m', . ':__r " '1ICht,EI. ~. W~~:;. I'RCF~SSI~Mi. '(Nlill'SLJRvtY'.\;< '--.~RID~ ~CGI~IIIAli~" Ccl\llF,U,E to,. ,"JU' ~H>I-iIr;C ::'M~, 1'01 '.HID WIII1C'JT ",( O~'CiN/lL ~,IG"'~;UP.l &; '''''SED ['I:,O~3W SEAL (-0 ~ rVi~"V. RLGlS:tRED ~"::lI':SS 01<"~ ~UP',P(GR ~Nr. 'M~~E~ I,. Cor-~TA::'lIhG 'O,jGO Sc.;-UAr\[ FEET, Mc:n:::: ~R LESS. SkETCh &; O:::SCFiIPTIOI,j ONLY NOT A BOUNDARY SURV::::y 40 DO It:;) --...J L..... FOF,: ':()UX.~ :::OUNTY GOVERhi,![>iT B'':::.!..RD Or-- '=:CUr'nl' CCMI,~ISSIO~Kf\S SCALE: l"=g!:f COLLIER IJOUiEVAED SKETCH 6-,: DESCIUPTlOK OF; PROPOSc;n HIGHT O}<' WAY PARCEL 129EDUl:i; COLLIER COU:'{TY, FLOJ~lDA JOB t-.:Uf,1D[R l:i01 QC D2.0G floor) D'1:'T T^n;,."~;,,, 'A/j Villulllizotian CONSULTING Civil&,trir=iu: ..... 'to., '.L .... Sumylllt: & -M"'I'Pillll t510 I'I,IIQ'...- P~,~. Dn.'e, S~il~ '<00 N~I';~., Fb,id~ 311C~ pmne :23g)5g,.0575 FAX: i23.) 5"i1.C$7lJ . ;,No.: ()\I~;2 FLE h'!,!o'_::. ur~27 ~';f(' hH,r:U:;: SI'1::ET ::F Agenda Item No. 16B8 September 15, 2009 Page 10 of 99 AERIAL VIEW Folio Number: 37992360009 Name: Thomas R. and Sunny M. Westby Street: 3821 White Boulevard, Naples, Florida I , I Agenda Item No. 16B8 Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Summary Appraisal Report Number 07-06-01 (Parcel No. 129 ROUE) I I I I I I r I I I I I I I ~ I Project: Widening of Collier Boulevard (CR 951) County Project No. 68056 Parcel No. 129 ROUE Parent Tract: 2.727 Acre Improved Tract. Improvements: Single-Family Home and Associated Site Improvements. Location: The Parent Tract is Located on the North Side of White Boulevard Approximately 0.10 Miles East of Weber Boulevard S. in Collier County, Naples, .Florida. Owners: Thomas R. Westby and M. Sunny Westby Date of Valuation: February 25, 2008. (Date ot the Most Recent Inspection) For Harry Henderson, SRA, Review Appraiser Transportation Right-Ot-Way Group 2885 South Horseshoe Drive Naples, Florida 34104 February 2008 Prepared By: Wilcox Appraisal Services, Inc. 1633 S.E. 41st Street Cape Coral, Florida 33904-7470 239-542-2311 Fax: 239-542-4995 Email: awilcoxmaisra@comcast.net .1111111111, Appraisal Institute'. I'l'q/cuiarmls l'/YJIlidi."if /feat Es/(J/('8o!utio/l$ WlIcor Appraisal Services. Inc. Is committed to the highest degree of professionalism with all of our appraisers being designated members of the Appraisal Institute. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 16B8 September 15, 2009 Page 12 of 99 Wilcox Appraisal Services, Inc. .1111111111, Appraisal Institute" -" February 25, 2008 JI""~rn~i()lIllU Prmlidiflg Real [J;sfnlc So!uliuru' Harry Henderson, SRA, Review Appraiser Transportation Right-of-Way Group 2885 South Horseshoe Drive Naples, Florida 34104 Wilcox Appraisal Services, Inc. is committed to the highest degree of professionalism with all of our appraisers being designated members of the Appraisal/nstitute. Re: Summary Appraisal Report Number: 07-06-01 (Parcel No. 129 RDUE). Project: Widening of Collier Boulevard (CR 951). Parcel No.: 129 RDUE. Parent Tract: 2.727 Acre Improved Tract. Improvements: One Single-Family Home and Associated Site Improvements. Location: The parent tract is located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. in Collier County, Naples, Florida. The parent tract has a street address of 3821 White Boulevard, Naples, Florida. Owners: Thomas R. Westby and M. Sunny Westby Date of Value: February 25, 2008 (Date of Most Recent Inspection). Dear Mr. Henderson: Pursuant to your request, an inspection and valuation analysis has been completed of the above referenced property for the purpose of estimating the market value of the property rights and improvements (if any) which are proposed to be acquired, together with all diminution in value to the remainder land and improvements (if any) which can be attributed to the proposed use of, or activity upon, the proposed perpetual, non-exclusive, road right-of-way, drainage, and utility easement (Parcel No. 129 RDUE). . -) The Appraisal Standards Board of the Appraisal Foundation adopted the "2008-2009 Uniform Standards of Professional Appraisal Practice" (USPAP) on June 8, 2007. The 2008-2009 standards became effective January 1, 2008 through December 31, 2009. In compliance with Standards Rule 2-2(b), the appraiser is communicating to the reader a "Summary Appraisal Report", one of the three reporting options allowed under Standards Rule 2-2. To estimate the compensation due the property owner, the appraiser has estimated the "as is" market value of the undivided fee simple interest in the parent tract before and after the proposed acquisition. Accordingly, as of the date of value, February 25, 2008, the appraiser has utilized the hypothetical condition assuming the proposed acquisition and the proposed roadway improvements have been completed. A hypothetical condition is contrary to what exists but is supposed for the purpose of analysis. Hypothetical conditions assume conditions contrary to known facts about physical, legal, or economic characteristics of the parent tract; or about conditions external to the property, such as market conditions or trends; or about the integrity of data used in an analysis. The parent tract of this appraisal assignment is an improved tract of land located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. in Collier County, ./ 1633 S.E. 41" Street. Cape Coral. Florida 33904-7470 239-542-2311 . Fax 239.542.4995 . Emall awilcoxmaisra@comcast.net I I I I I I I I I r I I I I I I I Page No.2 February 25, 2008 Harry Henderson, SRA, Review Appraiser Agenda Item No. 16B8 September 15, 2009 Prepared for and property of Col~g6lt1Ci1l'lJf 99 Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Naples, Florida. The parent tract has a street address of 3821 White Boulevard, Naples, Florida. The parent tract owners of record are listed on the 2008 Collier County Tax Roll as Thomas R. Westby and M. Sunny Westby The property is identified as Folio No. 37992360009 and STRAP. No. 334600 127 04B14 in the Collier County Property Appraiser's Office. The parent tract contains 2.727 acres of gross land area and is rectangular in shape. Specifically, the parent tract has a southern property line along White Boulevard that measures 180 feet; with a depth there from along the eastern and western property lines that measure 660 feet; and a rear, northern property line that measures 180 feet. The parent tract benefits from 180 feet of frontage along the northerly right-of-way of White Boulevard. White Boulevard is a collector, undivided, two lane, paved roadway. The available utilities to the parent tract include telephone, electrical service and emergency services. Drinking water would be typically provided by a private well. Wastewater would be typically disposed of by a private septic tank and drain field combination. The parent tract is a level tract that is covered with natural vegetation. The parent tract is situated within an area designated Flood Zone X in the Federal Emergency Management Flood Rate Maps, Community Panel Number 120067 0425 D, and dated June 3, 1986. Flood Zone X identifies areas located within the 500-year flood plain. Flood hazard insurance is not required. Based on the appraiser's review of the United States Department of Agriculture's Soil Survey of Collier County, Florida, the parent tract is located in an area with predominant soil type that includes No. 18, Riviera Fine Sand, Limestone Substratum. It is important to bring to the reader's attention that the information reported above related to the predominant soil group(s) on or near the parent tract, are general in nature, and mayor may not apply specifically to the soil group(s) located on the parent tract. The parent tract is presumed to be unencumbered by current county, state, and federal regulations related to certain areas being considered to be jurisdictional based upon vegetation classifications and/or wildlife species. It is important for the reader to be advised that no environmental studies of the parent tract have been provided to the appraiser. The parent tract is designated Estates Designation on the Collier County Future land Use Map, within the Residential Estates Sub-district, and is further regulated by the Golden Gate Area Master Plan. Furthermore, the parent tract is zoned E, Estates District, according to the Collier County land Development Code. The parent tract is encumbered by a 30-foot wide road right-of-way easement along the southern property line and along the property's existing frontage to White Boulevard. The appraiser is not aware of any other easements or restrictive covenants which might adversely affect the market value and development of the parent tract before the taking. However, the reader is advised that the appraiser has not been provided any title information. . I The parent tract is improved with a single-family home and associated site improvements. The parent tract single-family home is setback approximately 365 feet from the existing right-of-way of White Boulevard before the taking. After the taking, the remainder property single-family home is setback approximately 305 feet from the new right-of-way of White Boulevard. The setback of the remainder property's single-family home exceeds the minimum zoning Wilcox Appraisal SeNices, Inc. I I I I I I I I I I I I I I I I I I I Page No.3 February 25, 2008 Harry Henderson, BRA, Review Appraiser Agenda Item No. 16B8 September 15, 2009 Prepared for and property of Colli61l~dl'll:\Of 99 Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. requirement and typical market setback standards. The only significant improvements located within the proposed acquisition area consist of site improvements. Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. ." Based on the analysis of the legally permissible, physically possible, financially feasible and maximally productive uses of the parent tract, the highest and best use "as though vacant" is estimated to be potential single-family residential development. Furthermore, the highest and best use of the parent tract 'as improved" is estimated to be the continued use of the existing improvements as a single-family home and associated site improvements. Parcel No. 129 ROUE is a perpetual, non-exclusive, road right-of-way, drainage, and utilities easement that consists of a strip taking along the northerly right-of-way of White Boulevard. Parcel No. 129 ROUE contains 0.248 acres 'of gross land area and is rectangular in shape. Specifically, the Parcel No. 129 ROUE has a southern property line along White Boulevard that measures 180 feet; with a depth there from along the eastern and western property lines that measure 60 feet; and a northern property line that measures 180 feet. The only significant improvements that will be taken consist of site improvements including a portion of the dirt/gravel drive, site clearing, fill and grading. Pertinent improvements to establish the driveway connection(s) to White Boulevard will be re-established by Collier County. The proposed perpetual, non-exclusive, road right-of-way, drainage, and utility easement will be utilized for the widening of Collier Boulevard (CR 951) and portions of Pine Ridge Road (CR 896) and White Boulevard. "\ The remainder property shall contain 2.727 acres of gross land area and is still rectangular in shape and the same size and shape as before the taking, since the proposed property rights to be acquired involve a perpetual easement for road right-of-way, drainage, utilities and maintenance of these uses. However, the remainder property will be encumbered by an additional perpetual easement located along the northerly existing right-of-way of White Boulevard containing 0.248 acres of gross land area. The remainder property's overall access, availability to utilities, topography, land use designation, and zoning are unchanged. The highest and best use of the remainder property "as vacant" and "as improved" is estimated to remain the same as before the taking. Finally, the remainder property is not considered to be damaged due to the taking of the proposed perpetual easement acquisition area. The intended use of the appraisal is understood to be for use as a basis of value for determining full compensation to the property owner for the loss of the real estate resulting from the property rights and improvements (if any) which are proposed to be acquired, including all diminution in value to the remainder land and improvements (if any) which can be attributed to the use of, or activity upon, the proposed perpetual, non-exclusive, road right-of-way, drainage, and utility easement (Parcel No. 129 RDUE). Market Value is defined as "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 and 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: 1. buyer and seller are typically motivated; ./ Wilcox Appraisal SeNices, Inc. I . I I I I I I I Page No.4 February 25, 2008 Harry Henderson, SRA, Review Appraiser Agenda Item No. 16B8 September 15, 2009 Prepared for and property of Col~~uliiy::>f 99 Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. 2. both parties are well informed or well advised, and acting in what they consider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto; and 5. 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". Source: Uniform Standards of Professional ADDraisal Practice, 2003 Edition, The Appraisal Foundation, Washington, D. C., Glossary, Page 224. This letter of transmittal precedes the full narrative appraisal report, further describing the property and containing the reasoning and most pertinent data leading to the final value estimates. Your attention is directed to the "General Assumptions", "General Limiting Conditions", and "Certificate of Appraisal", which are considered usual for this type of assignment and have been included in the addendum of this report. r I. Unless otherwise stated in this report, the existence of hazardous substances, including without limitation, asbestos, polychlorinated biphenyls, petroleum leakage, or agricultural chemicals, which mayor may not be present on the property, or other environmental conditions, were not called to the attention of nor did the appraiser become aware of such during the inspection. The appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated. The appraiser, however, is not qualified to test for such substance or conditions. If the presence of such substances, such as asbestos, urea, formaldehyde foam insulation, or other hazardous substances or environmental conditions, may affect the value of the property, the value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions or for any expertise or engineering knowledge required to discover them. Furthermore, the appraiser is not an expert in the determination of jurisdictional wetlands or non-jurisdictional uplands. I I I I I I I . I By reason of my investigation and analysis, data contained in this report, and my experience in the real estate appraisal business, it is my opinion that the amount due the property owner, as a result of the loss of real estate resulting from the property rights and improvements (if any) which are proposed to be acquired, including all diminution in value to the remainder land and improvements (if any) which can be attributed to the use of or activity upon the proposed perpetual, non-exclusive, road right-of-way, drainage, and utility easement (Parcel No. 129 RDUE), as of February 25, 2008, is: Wilcox Appraisal SeNices, Inc. I I I I I I I I I I I I I I I I I I I Page No.5 February 25, 2008 Harry Henderson, SRA, Review Appraiser Agenda Item No. 16B8 September 15, 2009 Prepared for and property of Colliall~d~y::>f 99 Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. --.. Value of the Property Rights Taken: Value of the Improvements Taken: Severance Damages: Net Cost to Cure: TOTAL AMOUNT DUE OWNER: $27,000 $ 2,300 o o $29,300 Respectfully submitted, WILCOX APPRAISAL SERVICES, INC. L. l~ (:j 1-,,--+ . R. Alan Wilcox, MAl, SRA State-Certified General Real Estate Appraiser RZ 306 ~ ./ Wilcox Appraisal Services, Inc. I I I I I I I I I r I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 Page 17 of 99 I I Table of Contents PAGE CERTIFICATE OF APPRAiSAL................. ......... ..................... ....,....... .................... .................. 1 SUMMARY OF SALIENT FACTS AND CONCLUSIONS..........................................................3 INTRODUCTION AND DEFINITION OF THE APPRAISAL PROBLEM................................. 10 Identification of the Intended User........................................ ............................. ...................11 Identification of the Real Estate............................................................................ ................11 Identification of the Property Rights to be Valued ................................................................12 Intended Use or Function of the Appraisal...........................................................................13 Definition of the Value Estimate(s) ........................................ ............................. ..................13 Date of Value Estimate(s)......................................................... .... ..... ................ .................. 14 Description of the Scope of the Appraisal........................................... .......................... ......14 Hypothetical Conditions..... .................... ................................... ...................................... ..... 15 Other Limiting Conditions.. ............ ............................................ .............. ..... ........................ 15 PHOTOGRAPHS OFTHE PARENT TRACT.............................................................................16 VALUATION ANALYSIS OF THE PARENT TRACT............................................................ 20 Owner of Record............................ ........... ..... ................ ..................................................... .21 Legal Description of the Parent Tract..................................................................................21 Real Estate Assessments and Ad Valorem Taxes.............................................................. 21 Sales and Marketing History of the Parent Tract................................................................. 21 Florida Area Collier County Map....................... .......................... ..... .....................................22 Local Area Map............................ ............ .................................................... ............. .......... .23 Market Area Data ............................. .............................................................................. ..... 24 Site Location Map ............................. ..... ......................................................... .................... .26 Aerial Map............................. ............................... ................................................................27 Site Data ................ ...................................................................................... ............. .......... 28 Collier County Future Land Use Designation.................................................................... 30 Zoning Classification.......................................... ............. ............................. .........32 Improvement Data............. ...,.................... ....................... ............................................. .......34 Highest and Best Use .......................................................................................................... 35 The Appraisal Process........................... ......... ....................... .................. ............................38 The Sales Comparison Approach to Value........................................................................40 Land Sales Map............................................................ .................................................... ..43 Reconciliation of the Value Indications................................. .............. ..... ..... ........................50 Estimation of Reasonable Exposure Time.......................................................................... 52 Wilcox Appraisal SeNices, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 Page 18 of 99 I Table of Contents - continued ." PAGE DESCRIPTIONS AND VALUATION ANALYSES OF THE PROPOSED PARTIAL ACQUISITION AREA AND THE REMAINDER PROPERTY......................................................53 Partial Acquisition Area Map................................................................................................54 Project Description and Identification of the Proj:Osed Partial Acquisition Area.................... 55 Valuation Analysis of the Proposed Partial Acquisition Area................................................ 55 Valuation Analysis of the Remainder Property "As Severed"................................................ 56 Severance Damages to the Remainder Property................................................................. 57 Cost to Cure Analysis.................................................................................................. ......... 58 Special Benefits....... ...................... ..... ........... ....... ....... ................................. ...................... .58 Summary and Conclusion and tre Total Compensation Estimate........................................ 59 ADDENDUM................................................ ......................................... ................................... 60 Assumptions and Limiting Conditions.............................. .................... ..... ........................... .61 Qualifications of the Appraiser.......................................... ................................................... .63 Site To Do Business Site Details Report Site To Do Business Executive Summary Report Land Sales Map Land Sales Data Sheets ) ,/ Wilcox Appraisal Services, Inc. I , I I I I I I I ,. I I I I I I I II I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 P!?~1I9 tJf 99 I Certificate of Appraisal I certify that, to the best of my knowledge and belief: . The statements of fact contained in this report are true and correct. . The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. . I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest with respect to the parties involved. . I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment and my engagement in this assignment was not contingent upon developing or reporting predetermined results. . My compensation for completing this assignment is not contingent upon the developing or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. . The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Appraisal Institute's Code of Professional Ethics and Standards of Professional Appraisal Practice, which include the Uniform Standards of Professional Appraisal Practice. . The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. . As of the date of this report, R. Alan Wilcox, MAl, SRA, has completed the requirements under the continuing education program of the Appraisal Institute. . As of the date of this report, R. Alan Wilcox, MAl, SRA, State-Certified General Real Estate Appraiser, License No. RZ 306, has completed the requirements under the continuing education program of the State of Florida for state-certified appraisals. . I, R. Alan Wilcox, MAl, SRA, have made a personal inspection of the subject property and sales comparables that are contained in this report. . No one provided significant professional assistance other than the person signing this report, unless otherwise indicated within the report. . This report was prepared for and is the property of the Collier County Board of Commissioners and the reliance upon this appraisal for other uses is not warranted. Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 PIi'f9P} 3f 99 . Acceptance and utilization of this appraisal report, or any portion thereof, constitutes acknowledgement and acceptance of all General Assumptions and Special Conditions contained herein. "" By reason of my investigation and analysis, data contained in this report, and my experience in the real estate appraisal business, it is my opinion thOlt the amount due the property owner, as a result of the loss of real estate resulting from the property rights and improvements (if any) which are proposed to be acquired, including all diminution in value to the remainder land and improvements {if any} which can be attributed to the use of or activity upon the proposed perpetual, non-exclusive, road right-of-way, drainage, and utility easement {Parcel No. 129 ROUE}, as of February 25, 2008, is: Value of the Property Rights Taken: Value of the Improvements Taken: Severance Damages: Net Cost to Cure: TOTAL AMOUNT DUE OWNER: $27,000 $ 2,300 o o $29,300 Respectfully submitted, WILCOX APPRAISAL SERVICES, INC. ~.~~~- '. R. Alan Wilcox, MAl, SRA State-Certified General Real Estate Appraiser RZ 306 / Wilcox Appraisal Services, Inc. I - I I I I I I I r- '" I I I I I I I ~ I Prepared for and property ot Collier County Board of Commissioners Reliance upon lhe appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 P~"i1~f99 Summary of Salient Facts and Conclusions A. Appraisal Problem: 1. Types of Value (s): 2. Property Rights: 3. Intended Use of Appraisal Report: 4. Date of Value: 5. Scope of Analysis: 6. Owners of Record: 8. Site Data, Before the TakinQ: 1. Location: 2. Size & Shape: 3. Roadway Frontage: Market Value. Undivided Fee Simple Interest. The intended use of the appraisal is understood to be for use as a basis of value for determining full compensation to the property owner for the loss of the real estate resulting from the property rights and .improvements (if any) which are proposed to be acquired, including all diminution in value to the remainder land and improvements (if any) which can be attributed to the use of, or activity upon, the proposed perpetual, non-exclusive, road right-of-way, drainage, and utility easement (Parcel No. 129 ROUE). February 25, 2008 (Date of Most Recent Inspection). Summary Appraisal Report. Thomas R. Westby and M. Sunny Westby The parent tract is located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. in Collier County, Naples, Florida. The parent tract has a street address of 3821 White Boulevard, Naples, Florida. The parent tract contains 2.727 acres of gross land area and is rectangular in shape. Specifically, the parent tract has a southern property line along White Boulevard that measures 180 feet; with a depth there from along the eastern and western property lines that measure 660 feet: and a rear, northern property line that measures 180 feet. The parent tract benefits from 180 feet of frontage along the northerly right-of-way of Wilcox Appraisal SeNices, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissiooers Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 p~e2 6f 99 White Boulevard. White Boulevard is a collector, undivided, two lane, paved roadway. , 4. Utilities: The available utilities to the parent tract include telephone, electrical service and emergency services. Drinking water would be typically provided by a private well. Wastewater would be typically disposed of by a private septic tank and drain field combination. 5. Topography: The parent tract is a level tract that is covered with natural vegetation. The parent tract is situated within an area designated Flood Zone X in the Federal Emergency Management Flood Rate Maps, Community Panel Number 1200670425 D, and dated June 3,1986: Flood Zone X identifies areas located within the 500- year flood plain. Flood hazard insurance is not required. 6. Predominant Soils: Based on the appraiser's review of the United States Department of Agriculture's Soil Survey of Collier County, Florida, the parent tract is located in an area with predominant soil type that includes No. 18, Riviera Fine Sand, Limestone Substratum. It is important to bring to the reader's attention that the information reported above related to the predominant .soil group(s) on or near the parent tract, are general in nature, and mayor may not apply specifically to the soil group(s) located on the parent tract. ---.. 7. Exotic Vegetation and Wildlife: Current county, state, and federal regulations have considered certain areas jurisdictional based upon vegetation classifications and/or wildlife species. The appraiser is not an expert at vegetation groups or wildlife identification and has not been provided a report prepared by such an expert. The parent tract is presumed to be unencumbered by current county, state, and federal regulations related to certain areas being considered to be juriSdictional based upon vegetation classifications and/or wildlife species. Furthermore, the appraiser has assumed a reasonable quantity of non- jurisdictional uplands exist on the parent tract suitable for the development of the property in accordance to the estimated highest and best use. ./ Wilcox Appraisal Services, Inc. I I I I I I I I I ~ I I I I I I I ~ I Prepared for and property at Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 P!i'!i\9~3 \;f 99 B. Environmental Liabilities: 9. Easements & Restrictive Covenants: 10. Land Use and Zoning: C. Improvement Data. Before the TakinQ: The parent tract is assumed to be unaffected by environmental liabilities. However, the reader is advised that no environmental studies of the parent tract have been provided to the appraiser. The parent tract is encumbered by a 3D-foot wide road right-of-way easement along the southern property line and along the property's existing frontage to White Boulevard. The appraiser is not aware of any other easements or restrictive covenants which might adversely affect the market value and development of the parent tract before the taking. However, the reader is. advised that the appraiser has not been provided any title information. The parent tract is designated Estates Designation on the Collier County Future Land Use Map. within the Residential Estates Sub- district, and is further regulated by the Golden Gate Area Master Plan. Furthermore, the parent tract is zoned E. Estates District, according to the Collier County Land Development Code. The parent tract is improved with a single-family home and associated site improvements. The parent tract' single-family home is setback approximately 365 feet from the existing right- of-way of White Boulevard before the taking. After the taking, the remainder property single- family home is setback approximately 305 feet from the new right-of-way of White Boulevard. The setback of the remainder property's single- family home exceeds the minimum zoning requirement and typical market setback standards. The only significant improvements located within the proposed acquisition area consist of site improvements. Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken.. Wilcox Appraisal SeNices, Inc. I I I I I I I I I I I I I I I I I I I Prepared lor and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted" Agenda Item No. 16B8 September 15, 2009 P~!14 6f 99 D. Hiahest and Best Use, Before the Takina: 1. As Though Vacant: The highest and best use "as though vacant" is estimated to be potential single-family residential development. 2. As Improved: The highest and best use of the parent tract" as improved" is estimated to be the continued use of the existing improvements as a single-family home and associated site improvements. E. Market Value Estimate, Before the Takina: 1. Land Value: ........................................................................................................ $300,000 2. Improvements:.... .......... ............................................................................... ...... $ 2,300 Total Market Value of the Parent Tract: ..................................................................$302,300. . Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. F. Reasonable Exposure Time: Six to twenty-four months. ') G. Intended Use of the Proposed Acauisition Area and A Description of the Proposed Property Riahts and Improvements Taken: 1. Intended Use of the Proposed Acquisition: Parcel No. 129 ROUE will be utilized for the widening of Collier Boulevard (CR 951) and portions of Pine Ridge Road (CR 896) and White Boulevard. 2. Proposed Property Rights Taken: Parcel No. 129 ROUE is a perpetual, non- exclusive, road right-of-way, drainage, and utilities easement that consists of a strip taking along the northerly right-of-way of White Boulevard. Parcel No. 129 RDUE contains 0.248 acres of gross iand area and is rectangular in shape. Specifically, the Parcel No. 129 ROUE has a southern property line along White Boulevard that measures 180 feet; with a depth there from along the eastern and western property lines that measure 60 feet; and a northern property line that measures 180 feet. ./ Wilcox Appraisal SeNices, Inc. I I I I I I I I I r I I I I I I I ~ I Prepared fOf and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 P~e5 of 99 3. Proposed Improvements Taken: The only significant improvements that will be taken consist of site improvements including a portion of the dirt/gravel drive, site clearing, fill and grading. Pertinent improvements to establish the driveway connection(s) to White Boulevard will be re-established by Collier County. H. Market Value of the Proposed Property Rlahts and Site Improvements Taken: Property Rights Taken: .............................................................................................. $27,000 Improvements Taken: .......... ............................................. ................................. ........ $ 2,300 Total:...................................................... .............. ...................................................... $29,300 I. Market Value of the Remainder Property. As Part of the Whole: 1. Market Value of the Parent Tract, Before the Taking: ........................................ $302,300 2. Less Market Value of the Proposed Part Taken: ................................................ $ 29,300 Total Market Value of the Remainder Property, As Part of the Whole:..................... $273,000 J. Description of the Remainder Property, After the Takin!l: 1. Site Data, Remainder Property: 2. Improvement Data, Remainder Property: The remainder property shall contain 2.727 acres of gross land area and is still rectangular in shape and the same size and shape as before the taking, since the proposed property rights to be acquired involve a perpetual easement for road right-of-way, drainage, utilities and maintenance of these uses. However, the remainder property will be encumbered by an additional perpetual easement located along the northerly existing right-of-way of White Boulevard containing 0.248 acres of gross land area. The remainder property's overall access, availability to utilities, topography, land use designation, and zoning are unchanged. The remainder property's improvements are the same as before the taking, except for the taking of minor site improvements. Wilcox Appraisal SeNices, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 16B8 September 15,2009 P~i6 af 99 3. Highest and Best Use, Remainder Property: ~, a. As Though Vacant: The highest and best use of the remainder property "as though vacant" is estimated to remain the same as before the taking, to be potential single-family residential development. b. As Improved: The highest and best use of the remainder property "as improved" is estimated to remain the same as before the taking, the continued use of the existing improvements as a single- family home and associated site improvements. K. Market Value of the Remainder Propertv, After the Taking: 1. Land Value: .......................................................................... .............................. $273,000 2. Improvement Value: ..................................... .............................. ........... 0 Total Market Value of the Remainder Property: ............................................ .........$273,000. . Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. ') L. Severance Damaqes: The remainder property is not considered to be damaged due to the proposed perpetual, non- exclusive, road right-of-way, drainage, and utility easement. M. Cost to Cure: None. N. Special Benefits: None. O. Summary of the Just Compensation Estimate: Value of the Property Rights Taken: Value of the Improvements Taken: Severance Damages: Net Cost to Cure: TOTAL AMOUNT DUE OWNER: $27,000 $ 2,300 o o $29,300 P. Special Assumptions: None. / Wilcox Appraisal Services, Inc. I - I I I I I I I r I I I I I I I a I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 Pl?~~ Sf 99 Q. Hypothetical Conditions: To estimate the compensation due the property owner, the appraiser has estimated the "as is" market value of the undivided fee simple interest in the parent tract before and after the proposed acquisition. Accordingly, as of the date of value, February 25, 2008, the appraiser has utilized the hypothetical condition assuming the proposed acquisition and the proposed roadway improvements have been completed. A hypothetical condition is contrary to what exists but is supposed for the purpose of analysis. Hypothetical conditions assume conditions contrary to known facts about physical, legal, or economic characteristics of the parent tract; or about conditions external to the property, such as market conditions or trends; or about the integrity of data used in an analysis. R. Appraiser: R. Alan Wilcox, MAl, SRA; State-Certified General Real Estate Appraiser, RZ 306. Wilcox Appraisal SeNices, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property at Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 ~811#99 I '" Introduction and Definition of the Appraisal Problem I The first step of the valuation process is the development of a clear statement of the appraisal problem. This sets the limits of the appraisal and eliminates any ambiguity about the nature of the assignment. The statement of the appraisal problem includes: . Identification of the Intended User(s); . Identification of the Real Estate; Identification of the Property Rights to be Valued; Intended Use or Function of the Appraisal; . Definition of Value; Date of the Value Estimate; Description of the Scope of the Appraisal; Hypothetical Conditions; and Other Limiting Conditions. ) / Wilcox Appraisal Services, Inc. I I I I I I I I I r I I I I I I I . I Prepared for and property of Collier County Board of CommisSioners Reliance upon the appraisal tor other uses is not warranted Agenda Item No. 16B8 Septeruber 15" 2009 "'~2~ of 99 IDENTIFICATION OF THE INTENDED USER(S) This appraisal is made for the exclusive use of Harry Henderson, SRA, Review Appraiser, Transportation Right-of-Way Group, 2885 South Horseshoe Drive, Naples, Florida 34104; and its use by others is strictly prohibited. This narrative report is made subject to the Assumptions and Limiting Conditions as listed in the Addendum to this report. IDENTIFICATION OF THE REAL ESTATE The parent tract of this appraisal assignment is identified as follows: 1. Reference: The parent tract of this appraisal assignment is an improved tract of land located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. in Collier County, Naples, Florida. The parent tract owners of record are listed on the 2008 Collier County Tax Roll as Thomas R. Westby and M. Sunny Westby The property is identified as Folio No. 37992360009 and STRAP. No. 334600 127 04B14 in the Collier County Property Appraiser's Office. The parent tract contains 2.727 acres of gross land area and is rectangular in shape. Specifically, the parent tract has a southern property line along White Boulevard that measures 180 feet; with a depth there from along the eastern and western property lines that measure 660 feet; and a rear, northern property line that measures 180 feet. The parent tract benefits from 180 feet of frontage along the northerly right-of-way of White Boulevard. White Boulevard is a collector, undivided, two lane, paved roadway. The available utilities to the parent tract include telephone, electrical service and emergency services. Drinking water would be typically provided by a private well. Wastewater would be typically disposed of by a private septic tank and drain field combination. The parent tract is a level tract that is covered with natural vegetation. The parent tract is situated within an area designated Flood Zone X in the Federal Emergency Management Flood Rate Maps, Community Panel Number 120067 0425 D, and dated June 3, 1986. Flood Zone X identifies areas located within the 500-year flood plain. Flood hazard insurance is not required. Based on the appraiser's review of the United States Department of Agriculture's Soil Survey of Collier County, Florida, the parent tract is located in an area with predominant soil type that includes No. 18, Riviera Fine Sand, Limestone Substratum. It is important to bring to the reader's attention that the information reported above related to the predominant soil group(s) on or near the parent tract, are general in nature, and mayor may not apply specifically to the soil group(s) located on the parent tract. The parent tract is presumed to be unencumbered by current county, state, and federal regulations related to certain areas being considered to be jurisdictional based upon vegetation classifications and/or wildlife species. It is important for the reader to be advised that no environmental studies of the parent tract have been provided to the appraiser. The parent tract is designated Estates Designation on the Collier County Future Land Use Map, within the Residential Estates Sub-district, and is further regulated by the Golden Gate Area Master Plan. Furthermore, the parent tract is zoned E, Estates District, according to the Collier County Land Development Code. Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Prepared ror and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted" Agenda Item No. 16B8 SepterJl.ber 15~2009 F'~3(l~f 99 The parent tract is encumbered by a 3D-foot wide road right-of-way easement along the southern property line and along the property's existing frontage to White Boulevard. The appraiser is not aware of any other easements or restrictive covenants which might adversely affect the market value and development of the parent tract before the taking. However. the reader is advised that the appraiser has not been provided any title information. The parent tract is improved with a single-family home and associated site improvements. The parent tract single-family home is setback approximately 365 feet from the existing right-of-way of White Boulevard before the taking. After the taking. the remainder property single-family home is setback approximately 305 feet from the new right-of-way of White Boulevard. The setback of the remainder property's single-family home exceeds the minimum zoning requirement and typical market setback standards. The only significant improvements located within the proposed acquisition area consist of site improvements. Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. Based on the analysis of the legally permissible. physically possible. financially feasible and maximally productive uses of the parent tract. the highest and best use "as though vacant" is estimated to be potential single-family residential development. Furthermore. the highest and best use of the parent tract "as improved" is estimated to be the continued use of the existing improvements as a single-family home and associated site improvements. 2. Street Address: The parent tract has a street address of 3821 White Boulevard, Naples, Florida. ') IDENTIFICATION OF THE PROPERTY RIGHTS TO BE VALUED The valuation of real property includes both the physical real estate and the rights that one or more individuals or legal entities may hold or contemplate holding in the ownership or use of the land and improvements. An appraiser may estimate the value of a fee simple estate or a partial interest created by the severance or division of ownership rights. Special attention must be given to any limitations on ownership rights such as easements, encroachments, liens. or leases. Financing must also be considered because fee simple estates. leasehold estates. and leased fee estates can all be mortgaged. The specific rights to be valued in the probable or actual financing involved must be ascertained at the start of the assignment because the complexity of these rights and terms will determine the procedures, skills. and time required to complete the assignment. In this particular appraisal assignment. the appraiser has been requested by the client to estimate the "as is' market value of the undivided fee simple interest in the parent tract before and after the proposed acquisition. Fee simple ownership is an absolute ownership unencumbered by any other interest or estate; subject only to the limitations of eminent domain, escheat. police power and taxation. Eminent domain is the right of the sovereign government to take private property for public use upon the payment of just compensation. Escheat is the right to have titular ownership of a property returned to the state if the owner dies and leaves no will and no known or ascertainable heirs. Police power is the right to regulate property so that the public safety, health. morals, and general welfare are protected. Examples of this power are zoning ordinances, building codes. air and land traffic regulations, and sanitary regulations. / Wilcox Appraisal SeNices, Inc. I I I I I I I I I r I I I I I I I . I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 1688 SeptelliQer 1 Q.~009 P'il~3Hf 99 Taxation is the right to take money from owners of valuable goods, products, and rights. In addition to government restrictions on property, legal private agreements may also impose limitations. One type is a restriction inserted in a deed. Other private restrictions include certain easements, rights of way, and party wall agreements. The proposed property rights to be acquired involve a proposed perpetual, non-exclusive, road right-of-way, drainage, and utilities easement. INTENDED USE OR FUNCTION OF THE APPRAISAL The intended use of an appraisal (formerly known as the Function of the Appraisal), is the manner in which a client employs the information contained in an appraisal report. Because an appraisal provides the basis for a decision regarding real property, the nature of the decision affects the character of the assignment in the appraisal report. For example, a value estimate may be needed to determine the price at which to buy or sell a property, the amount of a loan, a basis for taxation, terms of a lease, value of real property assets and financial statements, or a basis for just compensation and eminent domain proceedings. The intended use of the appraisal is understood to be for use as a basis of value for determining full compensation to the property owner for the loss of the real estate resulting from the property rights and improvements (if any) which are proposed to be acquired, including all diminution in value to the remainder land and improvements (if any) which can be attributed to the use of, or activity upon, the proposed perpetual, non-exclusive, road right-of-way, drainage, and utility easement (Parcel No. 129 RDUE). DEFINITION OF THE VALUE ESTIMATE(S) The purpose of any valuation process is to estimate the value of a real property interest. Therefore, the specified type of value and the interests involved must be clearly defined. Types of appraised value include market value, fair value, use value, going concern value, investment value, assessed value, and insurable value. As previously noted in the letter of transmittal, the type of value to be estimated in this particular appraisal assignment has been identified as the market value of the undivided fee simple interest in the parent tract before and after the taking. Market Value is defined as "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 and 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: 1. buyer and seller are typically motivated; 2. both parties are well informed or well advised, and acting in what they consider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto; and Wilcox Appraisal SelYices, Inc. I I I I I I I I I I I I I I I I I I I Prepared fOf and property 01 Collier County Board of Commissioners Reliance upon the appraisal fOf other uses is not warranted Agenda Item No. 16B8 Septer,qber 15~ ;1009 "'1!~3z'bf 99 5. 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". Source: Uniform Standards of Professional Appraisal Practice, 2003 Edition, The Appraisal Foundation, Washington, D.C., Glossary, Page 224. DATE OF THE VALUE ESTIMATE(S) The date of a value estimate must be specified because the forces that influence real property value are constantly changing. Although conditions observed at the time of the appraisal may persist for a considerable time after that date, an estimate of value is considered valid only for the exact date specified. Market value is generally seen as a reflection of market participant's perceptions of future economic conditions and the perceptions are based on market evidence at a specific point in time. Value influences reflect economic conditions at a partiCUlar time and sudden changes in business and real estate markets can dramatically influence value. As previously identified, the appraiser is estimating the market value of the undivided fee simple interest in the parent tract before and after the taking. The effective date of the appraisal is February 25, 2008 (Date of the Most Recent Inspection). R. Alan Wilcox, MAl, SRA, inspected the parent tract. DESCRIPTION OF THE SCOPE OF THE APPRAISAL The scope of the appraisal refers to the extent of the process in which data are collected, confirmed, and reported. The scope is described to protect third parties whose reliance on an appraisal report may be affected by this information. An appraiser determines the extent of the work and of the report based on the significance of the appraisal problem. The appraiser is responsible for describing the scope of the appraisal in the report. ') Standards Rule 2-2(b)(vii), USPAP-2008-2009, requires the appraiser to "summarize the scope of work used to develop the appraisal". In this regard, pertinent to the extend to which the parent tract and the remainder property have been identified and inspected, the type of market data researched, and the type and extent of the analysis applied, the reader is advised to refer to the appropriate portion of this report. . Data Collection: The data utilized in this assignment was collected through a thorough search of the public records of Collier County, Florida, interviews of local real estate brokers and property owners, and information obtained from this firm's appraisal office. Furthermore, Patricia A. Wilcox, SRA, assisted in the collection of market data. . Data Confirmation: The appraiser signing this report has independently confirmed the market data that has been utilized in the development of the value estimates reported herein. Furthermore, the appraiser signing this report has also physically inspected this data. . Data Reporting: The data utilized in this report has been presented in a data sheet format for the reader's review. Additional information has been retained in the permanent files of the appraiser and is available upon request by the client. / Wilcox Appraisal Services, Inc. I I I I I I I I I , I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 Septerj:\ber 15... 2009 "~3.:l ~f 99 HYPOTHETICAL CONDITIONS To estimate the compensation due the property owner, the appraiser has estimated the "as is" market value of the undivided fee simple interest in the parent tract before and after the proposed acquisition. Accordingly, as of the date of value, February 25,2008, the appraiser has utilized the hypothetical condition assuming the proposed acquisition and the proposed roadway improvements have been completed. A hypothetical condition is contrary to what exists but is supposed for the purpose of analysis. Hypothetical conditions assume conditions contrary to known facts about physical, legal, or economic characteristics of the parent tract; or about conditions external to the property, such as market conditions or trends; or about the integrity of data used in an analysis. A hypothetical condition may be used in an assignment only if: . Use of the hypothetical condition is clearly required for legal purposes, for purposes of reasonable analysis, or for purposes of comparison; . Use of the hypothetical condition results in a credible analysis: and . The appraiser complies with the disclosure requirements set forth in USPAP for hypothetical conditions. OTHER LIMITING CONDITIONS Statements of limiting conditions are included in a report for the appraiser's protection, and to inform and protect the client and other users of the report. For a complete copy of the typical Assumptions and Limiting Conditions, which govern the appraisal process, please refer to the Addendum section of this report. Wilcox Appraisal SeNices, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board or Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 1P~416f 99 . Photographs of the Parent Tract , ) Wilcox Appraisal Services, Inc. I I I I I I I I I r I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 16B8 September 15, 2009 Page 35 of 99 PhotOQraphs Taken By: R. Alan Wilcox, MAl, SRA 1633 S.E. 41st Street Cape Coral, Florida 33904-7470 Taken On: February 17, 2008 Parcel No. 129 RDUE View looking northwesterly across White Boulevard showing the parent tract located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. in Naples, Collier County, Florida. View looking northeasterly across White Boulevard showing the parent tract located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. WILCOX APPRAISAL SERVICES, INC. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 16B8 September 15, 2009 Page 36 of 99 PholoClraphs R. Alan Wilcox, MAl, SRA 1633 S.E. 41st Street Cape Coral, Florida 33904-7470 Taken On: February 17, 2008 Taken By: -... View looking westerly along White Boulevard showing the parent tract located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. -, View looking easterly along White Boulevard showing the parent tract located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. / WILCOX APPRAISAL SERVICES, INC. I I I I I I I I I r I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 16B8 September 15, 2009 Page 37 of 99 PhotoaraDhs Taken By: R. Alan Wilcox, MAl, SRA 1633 S.E. 41st Street Cape Coral, Florida 33904-7470 Taken On: February 17, 2008 View looking northerly across White Boulevard showing the driveway to the parent tract located on the north side of White Boulevard just east of Weber Boulevard S. View looking northeasterly from just west of the parent tract near White Boulevard showing the acquisition area located along the northerly right-of-way of White Boulevard. WILCOX APPRAISAL SERVICES, INC. I I I I I I I I I I I I I I I I I I I Prepared fOf and property of Collier County Board of Commissioners_ Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 Page 32Q,f 99 Valuation Analysis of the Parent Tract ') ) Wilcox Appraisal Services, Inc. I I I I I I I I I , I I I I I I I ~ I Prepared lor and property of Collier County Board of Commissioners Reliance upon tne appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 '~~~f 99 OWNER OF RECORD The parent tract owners of record are listed on the 2008 Collier County Tax Roll as Thomas R. Westby and M. Sunny Westby whose mailing address is 3821 White Boulevard, Naples, Florida 34117. LEGAL DESCRIPTION OF THE PARENT TRACT The following legal description is provided: The East 180 feet of Tract 127, Golden Gate Estates, Unit 27, according to the plat thereof recorded in Plat Book 7, Page 17, Public Records of Collier County, Florida. Source: Collier County Property Appraiser's Office. REAL ESTATE ASSESSMENTS AND AD VALOREM TAXES The parent tract is assessed on the 2007 Collier County Tax Rolls as an unimproved property with a total market value of $408,610, allocated $245,700 to the value of the land and $162,910 to the value of the improvements. The property has total exemptions of $288,574, resulting in a taxable value of $120,036. The 2007 taxes for the parent tract totaled $1,513.72, exclusive of any early payment discounts or late payment penalties. The property is identified as Folio No. 37992360009 and STRAP. No. 334600127 04B14 in the Collier County Property Appraiser's Office. SALES AND MARKETING HISTORY OF THE PARENT TRACT There has been no arm's length transactions involving the parent tract within three years of the date of value (February 25, 2008). Inspection of the parent tract indicated a "sale by owner sign, 239-465-8780" on the property. The appraiser was unable to successfully contact the owner regarding the current asking price. Wilcox Appraisal SeNices, Inc. Agenda Item No. 16B8 September 15, 2009 Pa e 40 of 99 Hendry County ..,.\.-.'? l;> = . a I/) , ~ ; :::: . . ." .J.,fI/I Hendry County Collier County Monroe County' Florida State and County Maps -Wilcox Appraisal Services, lnc.- Prepared for and property of Colher County Board of CommiSSIoners Relianl::e upon the appraIsal for other uses is rIOt warr.mted ) ;:. ~ . '" 1 . . ~ a: ;:. 5 . '" . .. . q ~ i N ..--- I , ~. ,"'i"-j "- d .::.., " I ~ ~ " ., I I I I I I r . I I I I I I I ~ I ." ~ w ''''' ., "" ~ '" " ~~~ 5' ,~ '" "" ~-;;;r... .. """" !lUO ~ L__ :l- I ~ ~D"~ rOlU: ff ~ lDEMERE ... <:;'P."-<;S ~ 1 ~ 1 "' ) -_.~ ." 0 ..............~""'''''''.. r~~ , "AA Gfl"SS '" \ \ '-<::.--.= ,.~ ! ~ , ----"l I I ----l ... ~ / u '.,J L..~'.1 ~~,.J I U ~:";,":~;~:~"'~-r...&I""~ --"-4~ -~--'-.' ~.,\'lC' i illS . T;;IR 0 : ~o~.o! ,~ >. \ti.".f"'..)' Q .i ,,~, at'7)' i f'~!f!IOu's, i, -'-t,"'I,"~~_.- I" n W. ~~,~ J~PRVE''i l' i' CIA J _""'I .... W[[}GE'ftQ(D , ". ._____ it,_ W><- ! / ('"""\, '.. ---..;>:>>) ,P.....O i I :~"GE_,~.)Itf/ ,.,!~E"'OE.--J ~' /.YINEYARDS ),,. 5"'; . J ~L IfIOI'lEAL. '--.,.,4 l't LAGlJEV,t, ;t~ I! : An.,...u; """_..._ 01>1;, .~!.":~~,. '-StIlD .H"""""~I:WI~ ~,,"_,,\l,IN ~!.. '?~~~~l, -Q/-~~-=j; ~"'. - -'i,1 ~I~' ~ i'~JN ~' \ ;,51,811- z-::; ~l ;'.f,t..::~Ji' ~.. 'l;~i.P' I \: k \";~~fj, ~~\~...,+ . '~I F '~f:~ '~~~ ,~ ~~..'.., ~!i \ ,,...._i", .' .."",;, IY--...... I. IIOTli . . ~ ~ . ~ < . -JW~I~[J'IV' Agenda Item No. 16B8 September 15, 2009 Paqe 41 of 99 ~"- ~~~ N. ",. ., "" > '" ~---~ ,,,. ., ,. z, ~ ~1 >RO ., .. NW CMeAI~V WOOD DR "" " f'l'CllOIW wooo Ol'l "" ., COflAl WOOO OR ZIP CODE '~rr9 T'EAK WOQC DA ," " - "" " - _._-_.~... IO(l~USl!UM "" ..' '" ~ ,. ~o " "" 01 -! 'w "" '" ,. . ". " ,w " .w '" '" MAoHOGANY >!IOGE OR "" " PI\lME'TTO WOODS 0fI ~ 0 h '" S'" rAMARINO AlOOf 0fI Av "" """ " m> " 9 RD ,,~ " '''''' " .. ''''' " - ''''' " "" Syc...ucmE DR RIDGE ,. '" .W ,,~ ~ ~ , ~ ZIP CODE "" " . :1 . " 'W JE.l'''EASON l-II , BLVD ""II~lffilPlS'i'o' - E.".-..sI1lI'lGT~ ,m> ~~~.. ","",0 \ WFlN \ \) "'~ IlIIlClJlL~'" "\li" JIit------"! ......re:'" ~ ~:ii ; ~ l _ . ;;~ ~, "-= -na.Dt'/IOaoore: IJQ.f""""st'~.... 7~~"J _r~) ~." '" ~_. ~ , II ~;r: l ~ .... '" '" - 0: .. :i ... " " Xi ii ... . .11 :J"'; ~~ .,:; a_" ~'" tl.._':"sw~;;j .-~:n".\':,;;;~':.'L- -~~_~NOU'" ~O~ . Local Area Map i -Wilcox Appraisal Services, Inc." Prepared for and property of Collier County 8oardofCommissioners Reliance upon the apprais31 for other IlSCS is not w3rranted N I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 ~ ~of 99 "\ MARKET AREA DATA Definition of Concept: A market area is an area that usually has distinguishing characteristics. A market area may be a section of a community or an entire community. One subdivision may be one market area, while another market area may be comprised of all or parts of two or more subdivisions. In large towns and cities, the market area usually consists of a portion of the larger urban area, whereas the entire community may constitute the market area in small towns and cities. Market area occupants usually have an observable commonality of interests. Obviously, no grouping of inhabitants, buildings, or business enterprises can possess identical features or attributes; therefore, a market area is relatively uniform. That is, a market area exhibits a greater degree of commonality than the larger area. Market Area Delineation: A market area's boundaries may be the physical area that exerts relevant influences on a subject property's value. The boundaries may coincide with changes in prevailing land use, occupant characteristics, or physical characteristics, such as structures, street patterns, terrain, vegetation, and lot sizes. Because changes in natural or physical features often coincide with the change from one market area to another, features such as transportation arteries (highways, major streets, railroads), bodies of water (rivers, lakes, streams), and changes in elevation (hills, mountains, cliffs, valleys) often constitute market area boundaries. The primary market area is defined geographically as the area in which a competitive property would have a similar market area identification and general location appeal. The primary market area, for purposes of this appraisal assignment, consists of those residential properties zoned (E), Estates District, according to the Collier County Land Development Code located near the intersection of Collier Boulevard (CR 951) and Pine Ridge Road (CR 896) in Collier County, Florida. '" The secondary market area is defined economically to include those areas where a similarly zoned property would be considered by the same basic profile of prospective purchasers as generally competitive with the parent tract. The secondary market area, for purposes of this appraisal assignment, is defined as those residential properties zoned (E), Estates District, located in peripheral locations to the primary market area described above. StaQes of a Market Area's Life Cvcle: A market area's life cycle usually consists of the following stages: 1. Growth - a period during which the market area gains public favor and acceptance. 2. Stability - a period of equilibrium without marked gains or losses. 3. Decline - a period of diminishing demand. 4. Revitalization - a period of renewal, modernization, and increasing demand. Although the stages describe a market area's evolution in a general way, they should not be overemphasized as providing guidelines to market area trends. Many market areas are stable for very long periods of time, and decline is not necessarily imminent in all older market areas. Unless caused by the advent of some specific external infiuence, for example, a new highway that changes traffic patterns, decline may be at a barely perceptible rate and is subject to interruption by changing use or revival of demand. Therefore, there is no definite life ./ Wilcox Appraisal Services, Inc. I . I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 1~2009 ~Ll'iPof99 expectancy for a market area. Moreover, the stages are not always sequential. At any time in the cycle, major changes can occur which interrupt the order to the cycle's stages. For example, a market area that is in a stage of growth may decline precipitously rather than stabilize. The primary market area is considered to be in the growth stage of its life cycle, as evidenced by the steady absorption of available vacant land, the planned improvements to the area's infrastructure and the continued development of residential and commercial properties within the primary market area. General Primary Market Description: The Golden Gate Estates area began development in the early 1960's. Based on the Collier County tax rolls, there are approximately 31,000 platted tracts of land located within the Golden Gate Estates area typically ranging in size from 1.14 acres to over 5 acres. Tracts smaller than 2.25 acres are considered to be legally non- conforming tracts. The Golden Gate Estates area is composed of two separate sub-markets, the Urban Estates area, which lies west of Collier Boulevard (CR 951), and 'the Rural Estates area, which lies east of Collier Boulevard (CR 951). Commercial development has occurred at the intersections of Collier Boulevard (CR 951) with Vanderbilt Beach Road (CR 862) and Pine Ridge Road (CR 896), and along the western side of Collier Boulevard (CR 951) between Green Boulevard and Golden Gate Parkway (CR 886). The primary roadways that provide the main access to the immediately described primary market area include: ". .. I I I I I I I . Collier Boulevard (CR 951); . Vanderbilt Beach Road (CR 862); . Golden Gate Boulevard; . Pine Ridge Road (CR 896); and . Golden Gate Parkway (CR 886). Available utilities within the primary market area include public water, center sewers, telephone, electrical service and emergency services. In those areas without public water and central sewers, water must be typically provided by private well and wastewater must be typically disposed of by a private septic tank and drain field combination. Furthermore, the appraiser has included in the addendum of this report the following market analysis reports prepared by the appraiser via the "Site To Do Business" web site: 1. Site Details Report.; and 2. Executive Summary Report. Trends and Conclusions: In conclusion, recognizing the above favorable loeational factors and the current growth stage of the primary market area as evidenced by the steady absorption of available vacant land, the planned improvements to the area's infrastructure and the continued development of residential and commercial properties within the immediate market area, it is the appraiser's opinion, that the primary market area should expect, continued economic development into the foreseeable future. ~ I Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Agenda Item No. 16B8 September 15, 2009 44 f C) Parcel 129 ROUE n ~ ! ,[ 0 , I ~ ! ~ 'I ! , i 1 i , ~ I :e 0) t , I , '0 Q/ : j~ ~ i :e , , , ../660 i ! 330 , I ~ I ,I 1,1 I,.j ~ I ~l I ':1100 ''1''1 "J / ;g I -j/ l.ij t j .,Ii::;"'~"I':::';:~: 1.,1 I I I r IJ Ii 'I ; <i~ /' d IJ II I ,'1-1 , ')<( , ~jZ ""'ri}~ - I ;io' I: d1>- : i ~ldt- I: "';/Z II, a:: ~ ,) oq::J ,i ;;j'O wi ;jO ~: q ::rl "EnO ~~i, "'!'l.Q llJl >0."",- --..J ,..9:? tl III . i'5 j ;:ui OJ ;, ~ fllfll I:! mij .- 'J 81;, I "dl "1 ~, 1 )'- '1 '~ijj @ @ @/ ~ .' ~ (g) r,;J , / / 165 180 ,,,/ 150 , ':=~;;.~".._. , 1.65 ISO ';.. ..'i",'" -~l;l: I~C ~r"'- ... ... . . o , . I , _1"1:: i ri\ :!;jfll! ~ JOJ:8: i~iO Iml ~I~! jej! r ! ,. ..__....__..h...\ :______~__ ~__ ___ "" .-,~ '-'"""'''-;','.t:> ';".w i;."". 3355 ~ ~ ... <0 I o (D @ (iJ (D CD 0) @ ~ @ 345 345 ~ ~ ... '" ~ '" , ~ ! ___.. ;;n _mm. .___.m. .onm '.__ .,~. ILU.:U;:.._..,C !:\tW..__ __..__.n.___ @ , , ! I. ,______ @ ~ ) o ~ '" ~ o @ ;;, 0 '" '" ~ ~ ~ 0 .... '" '" C @ ;;, ~ '" '" " 0 ~ (y @ @ @ 0 0 @ @ ~ @ . en @ '" ~ 0 \80 75 75 75 75 '80 180 150 75 75 CD 180 ISO ISO 180 f80 75 75 75 75 7 ;;, 0 ~ '" w e ~ 0 ~ (]) ~ (D @ 0) @ CD (1) @ . '" ~ '" @ 690 ~ 0 345 I ~ ~ ~ ~ 345 .... '" '" C Ol 1<0 ... ~ Site Location Map ./ i -Wilcox Appraisal Services, Inc.- Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not waTTanted N I' I I: Wi ~i I! , , I I I I' , I Agenda Item No. 16B8 September 15, 2009 Paqe 45 of 99 ~-, I Parcel 129 ROUE I I I I I I r / I I I I I I I .... ~ Aerial Map i I -Wilcox Appraisal Services, Inc.- Prepan:d for and property ofCollicr County Board of CommissioDCTS. Reliance upon the appraisal for other uses is not wamulCed. N I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Rellance upon the appraisal for other uses is nol warranted Agenda Item No. 16B8 September 15, 2009 ~~f99 , SITE DATA Location: The parent tract is located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. in Collier County, Naples, Florida. The parent tract has a street address of 3821 White Boulevard, Naples, Florida. Size and Shape: The parent tract contains 2.727 acres of gross land area and is rectangular in shape. Specifically, the parent tract has a southern property line along White Boulevard that measures 180 feet; with a depth there from along the eastern and western property lines that measure 660 feet; and a rear, northern property line that measures 180 feet. Roadwav Frontaae: The parent tract benefits from 180 feet of frontage along the northerly right-of-way of White Boulevard. White Boulevard is a collector, undivided, two lane, paved roadway, Available Utilities: The available utilities to the parent tract include telephone, electrical service and emergency services. Drinking water would be typically provided by a private well. Wastewater would be typically disposed of by a private septic tank and drain field combination. Exotic Veqetation and Wildlife: Current county, state, and federal regulations have . considered certain areas jurisdictional based upon vegetation classifications and/or wildlife species. The appraiser is not an expert at vegetation groups or wildlife identification and has not been provided a report prepared by such an expert. The parent tract is presumed to be unencumbered by current county, state, and federal regulations related to certain areas being considered to be jurisdictional based upon vegetation classifications and/or wildlife species. " / Environmental Liabilities: Unless otherwise stated above or elsewhere in this report, the existence of hazardous substances, including, without limitation, asbestos, polychlorinated biphenyls, petrOleum leakage, or agricultural chemicals, which mayor may not be present on the property, or other environmental conditions, were not called to the attention of nor did the appraiser become aware of such during the property inspection. The appraiser is not qualified to test such substance or conditions. If the presence of such substances, such as asbestos, urea, formaldehyde foam insulation, or other hazardous substances or environmental conditions, may affect the value of the property, the value estimated is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions or for any expertise or engineering knowledge required to discover them. The parent tract is assumed to be unaffected by environmental liabilities. However, the reader is advised that no environmental studies of the parent tract have been provided to the appraiser. Elevation and Topoqraphv: The parent tract is a level tract that is covered with natural vegetation. The parent tract is situated within an area designated Flood Zone X in the Federal Emergency Management Flood Rate Maps, Community Panel Number 120067 0425 D, and dated June 3, 1986. Flood Zone X identifies areas located within the 500-year flood plain. Flood hazard insurance is not required. Predominant Soil Classification/s): Based on the appraiser's review of the United States Department of Agriculture's Soil Survey of Collier County, Florida, the parent tract is located in an area with predominant soil type that includes No. 18, Riviera Fine Sand, Limestone .J Wilcox Appraisal SeNices, Inc. I I I I I I I I I , I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 Page429>f 99 Substratum. It is important to bring to the reader's attention that the information reported above related to the predominant soil group(s) on or near the parent tract, are general in nature, and mayor may not apply specifically to the soil group(s) located on the parent tract. Easements and Restrictive Covenants: The parent tract is encumbered by a 3D-foot wide road right-of-way easement along the southern property line and along the property's existing frontage to White Boulevard. The appraiser is not aware of any other easements or restrictive covenants which might adversely affect the market value and development of the parent tract before the taking. However, the reader is advised that the appraiser has not been provided any title information. Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 Septer;Qber 15,;2009 \"'i!~4l:llbf 99 COLLIER COUNTY FUTURE LAND USE DESIGNATION The parent tract is designated Estates Designation on the Collier County Future Land Use Map, within the Residential Estates Sub-district, and is further regulated by the Golden Gate Area Master Plan. The geographic framework for growth in Collier County is established by the Future Land Use Element. As such, the Element is central to planning for: protection and management of natural resources; public facilities; coastal and rural development; and, housing and community character and design. The Element is also important to the County's system of iand development regulations and to private property rights. The purpose of the Future Land Use Element is to guide decision-making by Collier County on regulatory, financial and programmatic matters pertaining to land use. Most directly, this Element controls the location, type, intensity and timing. of new or revised uses of land. The land use strategy in this Element is closely coordinated with a strategy for provision of public facilities as found in the Capital Improvements and Public Facility Elements of the Comprehensive Plan, and with the strategies to protect and conserve natural resources as found in the Conservation and Coastal Management Element. The Golden Gate Area was previously subject to the regulations outlined in the County's Growth Management Plan. However, in 1991, the unique characteristics of the area resulted in adoption of a separate Master Plan for Golden Gate. This Master Plan became a separate Element of the County's Growth Management Plan and supersedes Objective 1, Policy 1.1, and Policy 1.3 of the County-Wide Future Land Use Element. All other Goals, Objectives, and Policies contained in the Future Land Use Element and all other Elements are applicable. In addition, the Golden Gate Area Future Land Use Map will be used instead of the County-Wide Future Land Use Map. ') The Estates Designation is characterized by low-density semi-rural residential lots with limited opportunities for other land uses. Typical lots are 2.25 acres in size. However, there are some legal non-conforming lots as small as 1.14 acres. Intensifying residential density shall not be permitted. The Estates Designation also accommodates future non-residential uses including: . Conditional uses and essential services as defined in the Land Development Code; . Parks, open space and recreational uses; . Group Housing shall be permitted subject to the definitions and regulations as outlined in the Collier County Land Development Code (Ordinance 91-102, adopted October 30, 1991 and consistent with locational requirements in Florida Statutes (Chapter 419.01 FS.). . Schools and school facilities in the Estates Designation north of 1-75, and where feasible and mutually acceptable, co-locate schools with other public facilities, such as parks, libraries and community centers to the extent possible. . Group Housing includes the following type facilities: o Family Care Facility, if occupied by not more than six (6) persons shall be permitted in residential areas; o Group Care Facility; o Care Units; ) Wilcox Appraisal Services, Inc. I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon lhe appraisal for other uses is not warranted Agenda Item No. 16B8 September 15,1 2009 P.4~l,f 99 I o Adult Congregate Living Facilities; and o Nursing Homes. All of the above uses shall be consistent with all of the Goals, Objectives and Policies of the Golden Gate Area Master Plan. I r I I I I I I I ~ I Wilcox Appraisal SeNices, Inc. I I I I I I I I I I I I I I I I I I I Agenda Item No. 16B8 September 15, 2009 p~5aZf 99 Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal tor other uses is not warranted ZONING CLASSIFICATION The parent tract is zoned (E), Estates District, according to the Collier County Land Development Code. The purpose and intent of the Estates District is to provide lands for low- density residential development in a semi-rural to rural environment, with limited agricultural activities. In addition to low-density residential development with limited agricultural activities, the Estates District is also designed to accommodate as conditional uses, development that provides services for and is compatible with the low-density residential, semi-rural and rural character of the Estates District. The Estates District corresponds to and implements the estates land use designation on the future land use map of the Collier County growth management plan, although in limited instances, it may occur outside of the estates land use designation. The maximum density permissible in the Estates District shall be consistent with and not exceed the density permissible or permitted under the Estates District of the future land use element of the growth management plan or as provided under the Golden Gate Master Plan. Permitted uses under this zoning classification are as follows: . Single-family dwelling; and . Family care facilities, subject to section 2.6.26. . Essential services, as set forth in section 2.6.9.1. Uses accessory to permitted uses are as follows: . Uses and structures that are accessory and incidental to uses permitted as of right in the Estates District; . Field crops raised for the consumption by persons residing on the premises; . Keeping of fowl or poultry, not to exceed 25 in total number subject to specific conditions; . Keeping of horses and livestock (except for hogs), not to exceed two such animals for each acre and subject to specific conditions; . One guesthouse, subject to section 2.6.14; . Recreational facilities that serve as an integral part of a residential development and have been designated, reviewed and approved on a site development plan or preliminary subdivision plat. These facilities may include but are not limited to golf course, clubhouse, community center building and tennis facilities, parks, playgrounds and playfields; and . . Excavation and related processing and production that are subject to specific conditions. Conditional uses in the Estates District that are subject to the standards and procedures established in division 2.74 are as follows: . Churches and other places of worship; . Social and fraternal organizations; . Child care centers and adult day care centers; . Schools, public and private; and . Group care facilities (category I); care units, nursing homes, assisted living facilities, and continuing care retirement communities; all subject to section 2.6.26. . Category II group care facilities and care units, subject to section 2.6.26 only when tenancy of the person or persons under care would not: o Constitute a direct threat to the health or safety of other individuals; Wilcox Appraisal Services, Inc. '" '\ / I . Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 ~51llPf99 I I I I I I I o Result in substantial physical damage to the property of others; or o Result in the housing of individuals who are engaged in the current, illegal use of or addiction to a controlled substance. . Extraction or earthmining, and related processing and production not incidental to the development of the property subject to the following criteria: o The site area shall not exceed 20 acres. . Essential services, as set forth in section 1.6.9.2. The following dimensional standards apply to all permitted, accessory, and conditional uses in the Estates District: Minimum Lot Size: Minimum Yard Requirements: Front yard, feet: Side yard, feet: Rear yard, feet: Minimum Yard Requirements for nonconforming lots of record: Front yard, feet: One full depth setback for corner lots along the shorter lot line along the street. Setback along longer lot line may be reduced by up to 50 percent. See definition of yard, front for lots that do not conform to a minimum lot width or area requirements. 10% of lot width with max. Two and one-fourth (2 1/4) Acres 75 30 75 r' Side yards, feet: Rear yard, feet: Minimum Lot Width, feet: Minimum Floor Area: Maximum Height: Maximum density: Minimum off-street parking: Landscaping: Signs: of 30 75 150 1,000 SF 30 One dwelling unit per 2 Yo acres As required in division 2.3 As required in division 2.4 As required in division 2.5 . I I I I I I I ~ I Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 PSlJl'! 534Jf 99 -.. IMPROVEMENT DATA The parent tract is improved with a single-family home and associated site improvements. The parent tract single-family home is setback approximately 365 feet from the existing right-of-way of White Boulevard before the taking. After the taking, the remainder property single-family home is setback approximately 305 feet from the new right-of-way of White Boulevard. The setback of the remainder property's single-family home exceeds the minimum zoning requirement and typical market setback standards. The only significant improvements located within the proposed acquisition area consist of site improvements. Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. " / Wilcox Appraisal Services, Inc. I I I I I I I I I r i I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal lor other uses is not warranted Agenda Item No. 16B8 September 15, 2009 pi'8ge ~f 99 HIGHEST AND BEST USE Highest and best use is defined in The Dictionary of Real Estate Appraisal, Third Edition as published by the Appraisal Institute: The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and 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. Implied within these definitions is recognition of the contribution of that specific use to community environment or to community development goals in addition to wealth maximization of individual property owners. Also implied is that the determination of highest and best use results from the appraiser's judgment and analytical skill, I.e., that the use determined from analysis represents an opinion, not a fact to be found. In appraisal practice, the concept of highest and best use represents the premise upon which value is based. In the context of most probable selling price (market value) another appropriate term to reflect highest and best use would be most probable. HiClhest and Best Use Analvsis "As ThouClh Vacant": This part of the highest and best use analysis assumes that a parcel of land is vacant or that it can be made vacant through the demolition of any improvements. The question to be answered in this part of the highest and best use analysis is: if the land is (or was) vacant, what use should be made of it? That is, what type of building or other improvement (if any) should be constructed on the land? The purpose of estimating the highest and best use for land or a site is to identify the use that causes the land to have value. This identification also helps to identify comparable properties. For highest and best use of land as though vacant, a use must meet four criteria. The four criteria are (1) legally permissible, (2) physically possible (3) financially feasible, and (4) maximally productive. The following analysis is presented: 1. Legally Permissible Uses: The most significant elements to be considered in regards to those uses which are legally permissible for the parent tract include, but are not necessarily limited to the following: o The parent tract is designated Estates Designation on the Collier County Future Land Use Map, within the Residential Estates Sub-district, and is further regulated by the Golden Gate Area Master Plan. o The parent tract is zoned E, Estates District, according to the Collier County Land Development Code. o The parent tract is encumbered by a 3D-foot wide road right-of-way easement along the southern property line and along the property's existing frontage to White Boulevard. The appraiser is not aware of any other easements or restrictive covenants which might adversely affect the market value and development of the parent tract before the taking. However, the reader is advised that the appraiser has not been provided any title information. o The parent tract is presumed to be unencumbered by current county, state, and federal regulations related to certain areas being considered to be jurisdictional based upon vegetation classifications and/or wildlife species. Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Agenda Item No. 1668 September 15, 2009 Pag-e536Jf 99 Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted, 2. Physically Possible Uses: The most significant facts related to the parent tract in regards to those uses which are physically possible include, but are not necessarily limited to the following: . The parent tract is located on the north side of White Boulevard approximately 0.10 mile east of Weber Boulevard S. in Collier County, Naples, Florida. The parent tract has a street address of 3821 White Boulevard, Naples, Florida. . The parent tract contains 2.727 acres of gross land area and is rectangular in shape. Specifically, the parent tract has a southern property line along White Boulevard that measures 180 feet; with a depth there from along the eastern and western property lines that measure 660 feet; and a rear, northern property line that measures 180 feet. . The parent tract benefits from 180 feet of frontage along the northerly right-of-way of White Boulevard. White Boulevard is a collector, undivided, two lane, paved roadway. . The available utilities to the parent tract include telephone, electrical service and emergency services. Drinking water would be typically provided by a private well. Wastewater would be typically disposed of by a private septic tank and drain field combination. . The parent tract is a level tract that is covered with natural vegetation. The parent tract is situated within an area designated Flood Zone X in the Federal Emergency Management Flood Rate Maps, Community Panel Number 120067 0425 D, and dated June 3, 1986. Flood Zone X identifies areas located within the SOO-year flood plain. Flood hazard insurance is not required. . Based on the appraiser's review of the United States Department of Agriculture's Soil Survey of Collier County, Florida, the parent tract is located in an area with predominant soil type that includes No. 18, Riviera Fine Sand, limestone Substratum. It is important to bring to the reader's attention that the information reported above related to the predominant soil group(s) on or near the parent tract, are general in nature, and mayor may not apply specifically to the soil group(s) located on the parent tract. . The appraiser has assumed a reasonable quantity of non-jurisdictional uplands exist on the parent tract suitable for the development of the property in accordance to the estimated highest and best use. . The parent tract is assumed to be unaffected by environmental liabilities. 3. Financially Feasible Uses: Having determined the uses that are physically possible and legally permissible, the appraiser must further analyze these uses to determine those that are likely to produce some income, or return, greater than the combined income needed to satisfy operating expenses, financial expenses and capital amortization. All uses that are expected to produce a positive return are regarded as financially feasible. The most important data related to those uses that are financially feasible for the parent tract include, but are not necessarily limited to the following: . The primary market area consists of those residential properties zoned (E), Estates District, according to the Collier County Land Development Code located near the intersection of Collier Boulevard (CR 951) and Pine Ridge Road (CR 896) in COllier County, Florida. . The secondary market area is defined as those residential properties zoned (E), Estates District, located in peripheral locations to the primary market area. Wilcox Appraisal Services, Inc. ...... ""\ / I I I I I I I I I r I I I I I I I . I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 Page551>f 99 . The primary market area is considered to be in the growth stage of its life cycle, as evidenced by the steady absorption of available vacant land, the planned improvements to the area's infrastructure and the continued development of residential and commercial properties within the primary market area. . The Golden Gate Estates area began development in the early 1960's. Based on the Collier County tax rolls, there are approximately 31,000 platted tracts of land located within the Golden Gate Estates area typically ranging in size from 1.14 acres to over 5 acres. Tracts smaller than 2.25 acres are considered to be legally non- conforming tracts. . The Golden Gate Estates area is composed of two separate sub-markets, the Urban Estates area, which lies west of Collier Boulevard (CR 951), and the Rural Estates area, which lies east of Collier Boulevard (CR 951). . Commercial development has occurred at the intersections of Collier Boulevard (CR 951) with Vanderbilt Beach Road (CR 862) and Pine Ridge Road (CR 896), and along the western side of Collier Boulevard (CR 951) between Green Boulevard and Golden Gate Parkway (CR 886). . The primary roadways that provide the main access to the immediately described primary market area include: o Collier Boulevard (CR 951); o Vanderbilt Beach Road (CR 862); o Golden Gate Boulevard; o Pine Ridge Road (CR 896); and o Golden Gate Parkway (CR 886). . Available utilities within the primary market area include public water, center sewers, telephone, electrical service and emergency services. In those areas without public water and central sewers, water must be typically provided by private well and wastewater must be typically disposed of by a private septic tank and drain field combination. . It is the appraiser's opinion that the primary market area should expect continued economic development into the foreseeable future. 4. Maximallv Productive: Among the financially feasible uses, the use that provides the highest rate of return, or value (given a constant rate of return), is the highest and best use. In summary, the parent tract is legally, physically and financially capable of supporting potential single-family residential development. Due to the fact that these uses for the parent tract are limited to potential single-family residential development, as opposed to a set of multiple options, the maximally productive use is the same use. Accordingly, it is the appraisers' opinion that the highest and best use of the parent tract "as though vacant" is estimated to be potential single-family residential development. Analvsis "As Improved": The parent tract is improved with a single-family home and associated site improvements. The highest and best use of the parent tract "as improved" is estimated to be the continued use of the existing improvements as a single-family home and associated site improvements. The only significant improvements located within the proposed acquisition area consist of site improvements. Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. Wilcox Appraisal Se/Vices, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal tor other uses is not warranted Agenda Item No. 16B8 September 15, 2009 Page5Glllf 99 -.. I i The Appraisal Process There are three standard approaches to property valuation: 1. Cost Approach 2. Sales Comparison Approach 3. Income Capitalization Approach The Cost ApDroach requires the estimation of the reproduction cost new of the subject improvements on current market price levels for labor and materials. The second component is the estimate of accrued depreciation, or diminished utility, which is computed and subtracted from the reproduction cost new to obtain an estimate of the depreciated reproduction costs of the subject improvements. Finally, the land value, as obtained from a market comparison approach, is added to obtain a value of the property as a whole. The underlying premise in the Cost Approach is the theory of substitution, which states that an informed purchaser would pay no more for a property than would be required to substitute of equal utility. This approach is most applicable when the improvements are new and represent the highest and best use of the subject, as though vacant. Conversely, when the improvements are old and adequate land sales are not available, the Cost Approach tends to lose credence. The Sales Comparison Approach, or Direct Comparison Approach, utilizes the past actions of buyers and sellers for a similar class of property in a simulation model to project the most probable selling price. This approach is also based upon the theory of substitution as well as the concept of anticipation and contribution. This approach is most applicable when there has been a sufficient amount of market transactions of similar properties to ascertain patterns of behavior of the market participants. This valuation can only be as accurate as the quality of information permits. If the comparative properties are quite dissimilar to the parent tract and large adjustments are required, then this approach loses credibility. ') The Income Approach is the valuation process which measures value as a function of the present worth of the property's net income capacity. This approach is based upon the concept of anticipation, contribution, and increasing and decreasing returns. This approach requires market oriented income and expense data as well as current mortgage and equity rates (income and yield). This approach is generally considered most reliable in the valuation of commercial properties, as it best represents investor's and lender's expectations and actions in the market. Each of the above three approaches will usually indicate different values After all of the factors of the three approaches have been carefully weighted, the indications of value are correlated to arrive at a final estimate of value. ) Wilcox Appraisal Services, Inc. I I I I I I I I I r I I I I I I I . I Prepared for and property of Collier County Board of CommiSSioners Reliance upon the appraisal ror other uses is nol warranted Agenda Item No. 16B8 September 15, 2009 Page 539>f 99 Identification of the Applicable Valuation Procedure(sl: As previously stated, the only significant improvements located within the proposed acquisition area consist of site improvements. Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. Therefore, it is the appraiser's opinion that the Market Approach to Value (Sales Comparison Approach to Value) is the only applicable approach for this valuation assignment. The Sales Comparison Approach to Value is considered applicable since an adequate number of similar unimproved sales have recently occurred within the market area that may be utilized by the appraiser in predicting typical buyer and seller behavior. The market data within the Sales Comparison Approach to Value is considered sufficient and adequate to provide a reliable value conclusion, The Cost Approach to Value and the Income Capitalization Approach to Value are not considered applicable for this appraisal assignment due to the fact that the parent tract is being valued as if vacant land. Wilcox Appraisal SelVices, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 IP>age 54;U,f 99 ...... The Sales Comparison Approach to Value I INTRODUCTION lri the Sales Comparison Approach, market value is estimated by comparing the parent tract to similar properties that have been sold recently or for which offers to purchase have been made. A major premise of the Sales Comparison Approach is that the market value of a property is directly related to the prices of comparable, competitive properties. A comparative analysis in the Sales Comparison Approach focuses on differences in legal, physical, locational, and economic characteristics of similar properties and the parent tract. Differences in the real property rights conveyed, the dates of sale, the motivations of buyers and sellers, and the financing arrangements for each sales transaction can also account for variations in prices. The Sales Comparison Approach is applicable to all types of real property interest when there are sufficient, recent, and reliable transactions to indicate value patterns in the market. For property types that are bought and sold regularly, the Sales Comparison Approach often provides a reliable indication of market value. When data is available, this is the most direct and systematic approach to value. When the number of market transactions is insufficient, the applicability of the Sales Comparison Approach may be limited. For example, the Sales . Comparison Approach is rarely applied to a special purpose property because few similar properties may be sold in a given market. To value such properties, the Cost or Income Capitalization Approach may be more appropriate and reliable. Nevertheless, data on sales and offers for similar properties may establish broad limits for the value of the property being appraised. ) When economic conditions are changing rapidly, the usefulness of the Sales Comparison Approach may be limited. For example, changes in income tax laws and zoning regulations, the availability in cost of financing, or the supply of similar properties may cause the sale prices of comparable properties with similar uses to be unreliable indicators of the value of the parent tract. If economic changes occur abruptly, an appraiser may have difficulty finding a reliable market basis on which to make adjustments for these changes. Rapid inflation or deflation can also jeopardize the reliability of an appraiser's adjustments and limit the usefulness of the Sales Comparison Approach. To apply the Sales Comparison Approach, an appraiser follows a systematic procedure: A. Research the market to obtain information on sales transactions, listings, and offerings to purchase properties similar to the parent tract. B. Verify the information by confirming that the data obtained are factually accurate and that the transactions reflect arm's length market considerations. C. Select relevant units of comparison (e.g., dollars per acre, per square foot, or per income multiplier) and develop a comparative analysis for each unit. D. Compare the parent tract and comparable sale properties using the elements of comparison and adjust the sale price of each comparable appropriately or eliminate the property as a comparable. J Wilcox Appraisal SeNices, Inc. I I I I I I I I I r I I I I I I I . I Prepared for and property of Collier County Board of Commissioners Reliance upon lhe appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 Pagll5i tf 99 E. Reconcile the various value indications produced from the analysis of com parables into a single value indication or a range of values. An imprecise market may indicate a range of values. PRINCIPLES OF THE SALES COMPARISON APPROACH TO VALUE The application of the Sales Comparison Approach is based on, and consistent with, the' operation of value influences and appraisal principles. The following appraisal principles are generally considered most relevant to the Sales Comparison Approach: A. Supplv and Demand: Property prices are determined by the market and they result from negotiations between buyers and sellers. Buyers constitute market demand and the properties offered for sale constitute the supply. If the demand for a particular type of property is high, prices tend to increase; if demand is low, prices tend to decline. Shifts in the supply of improved properties frequently lag behind shifts in demand because supply is created by time-consuming construction, while demand can change rapidly. B. Substitution: As applied in the Sales Comparison Approach, the principle of substitution holds that the value of a property tends to be set by the price that would be paid to acquire a substitute property of similar utility and desirability. This principle implies that the reliability of the Sales Comparison Approach is diminished if substitute properties are not available in the market. C. Balance: The forces of supply and demand tend toward equilibrium, or balance, in the market, but absolute equilibrium is almost never attained. The balance between supply and demand continually changes. Due to shifts in population, purchasing power, and consumer tastes and preferences, demand varies greatly over time. The construction of new buildings and the demolition of old ones cause supply to vary as well. Another aspect of this principle is that the relationship between land and improvements and the relationship between a property and its environment must both be in balance for a property to reflect its actual market value. If, for example, a property has too much land in relation to its improvements or too many expensive amenities for its location, an imbalance is created. Appraisers must watch for imbalances in the market and within properties because they can cause the market to impute different prices to otherwise comparable properties. D. Externalities: Positive and negative external forces affect all types of property. A period of economic development or economic depression can often influence property values. An appraiser analyzes the market area of a parent tract to identity all significant external influences. To a great extent, these external forces are reflected in the adjustments made for property location. Two properties with identical physical characteristics may have quite different market values if one of the properties has less attractive surroundings. Factors such as the condition and lighting of streets, the convenience of transportation facilities, the adequacy of police protection, and the proximity to shopping and restaurant facilities vary with location. They must be considered by the appraiser to determine if they have a positive or negative effect on the value of the property being appraised. Wilcox Appraisal SelVices, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 p~64af 99 PRESENTATION OF THE MARKET DATA ~ The appraiser has reviewed economic data related to a number of sales and listings of comparable unimproved properties located within the primary and secondary market areas. Based on this research, the appraiser has assembled five competitive unimproved sales zoned E, Estates District, transacted between December 2006 and April 2007 as being most comparable to the parent tract. The data sheets for each of the sales used to estimate the value of the parent tract are presented in the addendum of this report, ') / Wilcox Appraisal SeNices, Inc. I I I I I I I I I r I I I I I I I . I .AGE .~ ~.~ -;r ~.~ , ~ICl~OCIl -'-':T-'~ i ~.o:~~....l;;T ~,? .".,.- IJ}"" llQ.._- ..BlL_ ~ I j ~ 1 --~--------[ I , I I .~ ~ ODSLN I ""f'""- ~ .-. ~. ~~ Yfil$PERlNCl.PINE"S ~ ,.,..,._9 .-~\~ I!Q~~ ~~~~_.... rRATRlml"';:-~ f'LACE_ '- !!i -:.,. ,5~ I.P I. "" ".~ . ;Y WYNDEMfRt ., ''iF'''' g ~. -lII!I;: .... ~~ w_ 8" . .' ~ at; :l "i ~ :;; ;; . Q L "9\~- Agenda Item No. 16B8 September 15, 2009 p aa '-TAIIO:\'" - P:;AaOflt."='"-;-'6t.~ C~ 5 ~ il! ,'" "Cf'le:Rffi' Nero ~ llfil: 1i<....o '-CAMElOT J [AAe.' .- \~ ~ ~:J ~ ~ ~ - ~--- / ~-Cl"~ ~c e.fY~\9~"o'" !:!.l '" A-,~,. > ,c"'" ) 9f.'.lt,~-"tf ! ,;J&.. ;rr- I r;; ....~' > l.AlJQIJE >-!f'li i , . . __I :5 HICICQA" .....OOCl 0" $". ,,,OOS, _-4,,' ,;. _ . i " 0 IJ f'Q-' r-r _. u .:!!y:.~1 e..\~~:?8 I i.";'.;tlN.T4llEiRl!SERVE ' ~ s~ . p' elF! I .....,. _ i WEDGEWOOO i~ ~,~.~~ ~~fO~:__'TH(' ,. ~ ~~~~ I-~-- " / . VINEYARDS ~. ~ . i e' ~INOflE-J.L . J." I~I ' ....OUEV... 7:rf..... :-ie:c......E ~~=~c~_.~~:...C'j!t_~c~... , ~es.YE....-'.i'-r.>,'~ ,:1~ \,-,'OlFl'~~ -~---'.--~-~, u':;.__,.' )/.; ,j~_u;~,' I" .:.. ~~r~/ .r:I',~~"1 , - i." (}"~;1' ..,.. f ,I>'fell'au,.; ! """~,f'.,,,f:~ ~ -0.. , ?i V~T'~<S I "TRA ) ~ ..); - ~--\=~; ~ .,,..IiAl'A ';;<'';''''';';''''1.,,$ ~ RID'~" ~""'~$', ~~;:. \ ~'1~~~~{~t ~ I ~\,~ ,:,,~il{,~ ..". 9~ f ruJt.I~:Wr~;iii~~~,;;'i I\"f~ ":'f:\~- ~ -4'6 Ii ~'~;~~."- J; ,.:~'..,! CJil ", 'j.~ i '. t'~ ::.IRINWOOD Ii , - .v;?HTF"'1' I J PINE .. n.ti ~. _,_N'lV___ ~_~--1!!:! 0' ~i ~- ....'1 ~t1_ CORAt. l'YOOO DA -~,~~~--- ...'" %, ~, ~: ........:.!!':....--._~ _l>I!'i-.__ TE"K WOOD OR '" QOLD 9M.....OG.lN....RlWc:OR .2.~!-__ ~- --. ow .__,~!-v Q . " 0 ~I ~ ~, ~. ~-':'-._~,~. -~~,- s~ PAl.-I,IET"OO WOODS Cfl " , __~.~'l!:I~...____~ -j~----- r"""-'RINOA'DOE:lR "Q_......'!......... __~,Y".___. ffi' . _1; TtH ~v "" " - , " ." " ~ " '" ~,."""'fiJSfU " " ,eo '" '" '", " '" ~ RD , SYCAMORE OR RIDGE :1 h""- -'6- I: '''" Ii '[ '(lTlol J' ,- ~. .._~._. " .. ", < ~,-. . om " ,w ~ ".,,', ~ . -"~., ..._-~. l:Uk' " 'sw , ~ .~~!~ "-Y.-_~__ ,w " ,,~ " 'w " ---~~ '.TH_ ~ __---.-E.._____ __JtL_ AEEN r- __~R.g.,t;_ ____ 8L..~~ _ . '~HIl sw u.CfQM\ ~E",__ ---~~-~- _~$!!"~____,_.__ ...1:.':'__ ~.;::;. iili :n r.,,!~,s..L~_J,!".. ."" .., '\OI'It>o"'.os:!~ ~W ..~. :n =~~ ".,.\ ,.. =' ,J'.t!':;l:; ~ ~~iov."'i:8r. ~l__~"~, ~ ~~_I!J..SYt.$ ,u < ~ '._".ll.. " _~ I I:.l ~-2: ",,,,,,,,,""""1._ 5"""""",,,,, ~~~'~~ _.E..~...F! GRAS.S ~ ' srtl,z,lllE'" sr;l()lo{lf.. ~ GOLDEN \ ::': --GATE a~..r~ 601"'.'" .........~ ~"'~ . ~~ -- .~ " 'I/1'l,'~ ".7/."(; ",""I(1(A_1>Cl' 4H:"U,-~'"l.'" .Pf~" " ~ ~ " . ~ C1E"'a.A:. wocbS-:,- -"'\.--=-~"':':"::-;''' .,.. ~x:' CI~ IERKSlIlm:':"""4- !Y~~~" - - '"fIlUGL .t~~ .._~~'i. "I'.;,W ~r"" PONOO'" ,,: Unimproved Land Sales Map -Wilcox Appraisal Services, Inc.- Prepared for and property ofCoHier County Board of Commissioners Reliance upon the appraisal fOf other uses is not warranted 11TH s " .::,\" v laTH. u' k;..;i "/ 15""' /tV :'7'H '~li AV <;w 2'ST ,w "' =0 " 'W 2~TH- -", ----Sw_ ^' ,W ~~ "' ow "" /tv..__....-m.. i N I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15.. 2009 F'!I~ 6l!'4>f 99 I APPLICATION OF THE MARKET DATA ~, I As previously stated, the appraiser has selected five competitive unimproved sales zoned E, Estates District, transacted between December 2006 and April 2007 as being most comparable to the parent tract. All sales have been compared to the parent tract and adjusted for significant differences. Buyers, sellers, and active real estate agents have reported that competitive unimproved properties within the market area are typically purchased based on a price per acre of gross land area unit of value. Furthermore, the appraiser has applied the proper sequence of adjustments including the following order: property rights conveyed; financing; conditions of sale (motivation); and market conditions (time). The following sales comparison grid is presented: I I I I Sales Comparison Grid - Unimproved Land Sales: ~ Sale ~ Sale ~ Element of Comparison Subiect ~ ~ No.3 No.4 ~ Date of Value/Sale Feb-2006 Dec-2006 Mar-2007 Mar-2007 Mar-2007 Apr-2007 Highest and Best Use Residential Residential Residential Residential Residential Residential Location North side of West side of North side of South side of South side of North side of White Blvd. Collier Blvd 7th Ave. SW Boxwood Way 15th Ave SW Mahogany Ridge Dr Size (Gross Acres) 2727 227 250 159 L14 259 Road Frontage White Blvd Collier Blvd. 7th Ave SW Boxwood Way 15th Ave, SW Mahogany Ridge Or Land Use Designation Estates Estates Estates Estates Estates Estates Zoning Estates Estates Estates Estates Estates Estates Utilities E.T E. T E,T E, T E. T E, T Sales Price NA $325.000 $340.000 $212,000 $129.000 $410,000 Sales Price (Per Gross Acre) NA $143,172 $136,000 $133.333 $113,158 $158.301 Transaction Adiustments Property Rights Conveyed Financing Conditions of Sale (Motivation) Market Conditions (Timel Adjusted Price Adjusted Price (Per Gross Acre) Additional Adiustments Location 000% 0,00% 0,00% 000% 000% Size (Gross Acres) 000% 000% 000% 0,00% 000% Road Frontage 000% -10.00% -1000% .1000% -1000% land UsefZoning 000% 000% 000% 000% 000% Utilities 000% 000% 000% 000% 000% Net Parcentage Adjustment 000% -1000% -1000% -1000% 10 00% Adjusted Price (Per Gross Acre) $125,595 $110,26B $10B,113 $91,737 $129,510 Explanation of Adjustments: I I I I I I I I I The following explanations of adjustments are presented: I . Adjustments for Propertv RiQhts Conveved, Financin!:l and Conditions of Sale (Motivationl. and Conditions of Sale (Motivation): All sales utilized in direct comparison to the parent tract conveyed property rights involving a fee simple estate and involved market financing or were all cash to seller transactions. Furthermore, all sales were verified to be typically motivated arm's length transactions. Accordingly, no adjustments were made for these three elements of comparison. However, verification of Sale Nos. 1 and 5 indicated the sale property was purchased by the owner of the adjacent property that is improved with an existing single-family home. The appraiser j I I Wilcox Appraisal Services, Inc. I I I I I I I I I r I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon lhe appraisal for other uses is not warranted Agenda Item No. 16B8 September 15. 2009 Ihge e45Jf 99 recognizes that many buyers of adjacent (assembled) tracts of land will sometimes pay a premium above market value. This assemblage motivation will be considered by the appraiser in the final reconciliation. . Adiustments for MarketinQ Conditions (Time): The date of sale identifies the market conditions under which the comparable sale occurred. Changes in market conditions can be caused by inflation, deflation, changes'in supply and demand, and other factors. Although the adjustment for market conditions is sometimes referred to as a "time adjustment", the passing of time is not the cause of the adjustment, but rather, the . market conditions that mayor may not have changed over the time period analyzed. Changes in market conditions are usually measured as a percentage of a previous price. An analysis of a resale of the sale property, or two (2) paired sales considered very similar, can provide an indication of the rate of price change. It should be remembered that the purpose of the market conditions adjustment is to adjust all sales from the date of sale to the date of value. The five closed sales utilized in direct comparison to the parent tract are recent sales that sold between December 2006 and April 2007. Therefore, the appraiser is concerned with any market condition changes between the oldest sale (December 2006) and the date of value (February 25, 2008). As previously reported in the market area analysis, the primary market area is considered to be in the growth stage of its life cycle, as evidenced by the steady absorption of available vacant land, the planned improvements to the area's infrastructure and the continued development of residential and commercial properties within the primary market area. However, subsequent to January 2006, residential market values have significantly declined. Furthermore, during this timeframe the number of residential listings has increased dramatically and the number of sales has also decreased. The appraiser has utilized, as most appropriate, a negative 12.0% annual adjustment or a negative 1.0% per month adjustment to the previously adjusted sales prices for market conditions (time) for the time frame between the oldest sale (December 2006) and the date of appraisal (February 25, 2008). It should be understood that this market conditions adjustment (time) is made to the "adjusted" sales prices (after adjustments for property rights conveyed, financing and conditions of sale (motivation), if any. The following time adjustment grid is provided: Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 iI?~4ijf 99 Time Adjustment Grid: Date of Sale Date of Value No. of Months Dirt. (X) Time Adj. Per Mo. Time Adj. Factor Sales Price (+/-) Adjustments: Adjusted Sales Price (+) Time Adj. Factor Indicated Adj. Sales Price Rounded Indicated Time Adjustment Sale No,1 Dec-2006 Feb-2008 14 1.00% 0.140 $325,000 $0 $325,000 1.140 $285,088 $285,100 $39,900 Sale No,2 Mar-2007 Feb-2008 11 1.00% 0.110 $340,000 $0 $340,000 1.110 $306,306 $306,300 $33,700 Sale No.3 Mar -2007 Feb-2008 11 1.00% 0.110 $212,000 $0 $212,000 1.110 $190,991 $191,000 $21,000 Sale No.4 Mar -2007 Feb-2008 11 1.00% 0.110 $129,000 $0 $129,000 1.110 $116,216 $116,200 $12,800 " Sale No.5 Apr-2007 Feb-2008 10 1.00% 0100 $410,000 $0 $410,000 1100 $372,727 $372,700 $37,300 Adjustments for location: All sales are competitive vacant residential sites located in the primary market area. Minor locational differences will be considered by the appraiser in the final reconciliation. Accordingly, no adjustments were made for this element of comparison. . Adiustments for Size: All sales range in size from 1.14 gross acres to 2.59 gross acres, as compared to the parent tract's size of 2727 gross acres. Minor size differences will be also considered by the appraiser in the final reconciliation. Accordingly, no adjustments were made for this element of comparison. "\ I . Adjustments for Road Frontage: The parent tract is located along the north side of White Boulevard a collector, undivided, two lane, paved roadway. Sale NO.1 is located along the west side of Collier Boulevard (CR 951). However, Sale Nos. 2, 3, 4 and 5 are considered to have superior road frontages, with all these sales located along less busy roadways. Accordingly, Sale Nos. 2, 3,4 and 5 were given a negative 10% adjustment for this element comparison. Adjustments for land Use/Zoning and Utilities: All sales have similar land use designations, zoning classifications and available utilities. Accordingly, no adjustments were made for these element of comparisons. Discussion of Sales: . Unimproved land Sale No. 1 contains 2.27 acres of gross land area and is a December 2006 transaction. Unimproved Land Sale NO.1 is located on the west side of Collier Boulevard (CR 951) between 3'd Avenue S.W. and 51h Avenue S.W. Unimproved land Sale No. 1 benefits from frontage along the westerly right-of-way of Collier Boulevard (CR 951). Available utilities to the sale property include telephone and electrical service. Drinking water is typically provided by private well. Wastewater is typically disposed of by a private septic tank and drain field combination Sale NO.1 has a future land use designation of Estates and is zoned Estates by Collier County. Verification of this sale indicated that at the time of sale, the property was vacant land. This vacant residential site was purchased by the owner of the adjacent property that is / Wilcox Appraisal Services, Inc. I I I I I I I I I r I I I I I I I ~ I Prepared fOf and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 16B8 September 15A2009 ~~6::r6f 99 improved with an existing single-family home. Unimproved Land Sale NO.1 provided an indicated adjusted value of $125,595 per acre of gross land area. . Unimproved Land Sale No.2 contains 2.50 acres of gross land area and is a March 2007 transaction. Unimproved Land Sale No. 2 is located on the north side of 7'h Avenue S.W. approximately 0.90 miles west of Collier Boulevard (CR 951). Unimproved Land Sale No.' 2 benefits from frontage along the northerly right-of-way of 7'h Avenue S.W. Available utilities to the sale property include telephone and electrical service. Drinking water is typically provided by private well. Wastewater is typically disposed of by a private septic tank and drain field combination. Sale NO.2 has a future land use designation of Estates and is zoned Estates by Collier County. Unimproved Sale NO.2 is encumbered by a 50-foot wide road right-of-way easement along the southern property line (for 7111 Avenue S.W.) and a small easement along the western property line for the encroachment of a concrete drive for the adjacent improved property. Verification of this sale indicated that at the time of sale, the property was vacant land. Unimproved Land Sale NO.2 provided an indicated adjusted value of $110,268 per acre of gross land area. . Unimproved Land Sale No.3 contains 1.59 acres of gross land area and is a March 2007 transaction. Unimproved Land Sale NO.3 is located on the south side of side of Boxwood Way (f1k1a 10111 Avenue S.W.) approximately 0.50 mile east of Logan Boulevard. Unimproved Land Sale No. 3 benefits from frontage along the southerly right-of-way of Boxwood Way (f1k1a 10lh Avenue S.w.). Available utilities to the sale property include telephone and electrical service. Drinking water is typically provided by private well. Wastewater is typically disposed of by a private septic tank and drain field combination. Sale No. 3 has a future land use designation of Estates and is zoned Estates by Collier County. Unimproved Sale NO.3 is encumbered by a 30-foot wide road right-of-way easement along the southern property line along the northern property line (for Boxwood Way). Verification of this sale indicated that at the time of sale, the property was vacant land. Unimproved Land Sale NO.3 provided an indicated adjusted value of $108,113 per acre of gross land area. . Unimproved Land Sale No.4 contains 1.14 acres of gross land area and is a March 2007 transaction. Unimproved Land Sale No. 4 is located on the south side of 151h Avenue S.w. approximately O.BO miles east of 39111 Street S.W. Unimproved Land Sale NO.4 benefits from frontage along the southerly right-of-way of 151h Avenue S.W. Available utilities to the sale property include telephone and electrical service. Drinking water is typically provided by private well. Wastewater is typically disposed of by a private septic tank and drain field combination. Sale No. 4 has a future land use designation of Estates and is zoned Estates by Collier County. Unimproved Sale NO.4 is encumbered by a 3D-foot wide road right-of-way easement along the northern property line (for 151h Avenue S.W.). Verification of this sale indicated the sale property was vacant land at the time of sale. The site is currently under construction with a single family home. Unimproved Land Sale NO.4 provided an indicated adjusted value of $91,737 per acre of gross land area. . Unimproved Land Sale No.5 contains 2.59 acres of gross land area and is an April 2007 transaction. Unimproved Land Sale No. 5 is located on the north side of Mahogany Ridge Drive approximately 0.10 miles east of Logan Boulevard. Unimproved Land Sale NO.5 benefits from frontage along the northerly right-of-way of Mahogany Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 P.6~e,f 99 Ridge Drive. Available utilities to the sale property include telephone and electrical service. Drinking water is typically provided by private well. Wastewater is typically disposed of by a private septic tank and drain field combination. Sale NO.5 has a future land use designation of Estates and is zoned Estates by Collier County. Unimproved Sale NO.5 is encumbered by a 30-foot private access and public utility easement along the eastern property line and a 30-foot wide road right-of-way easement along the southern property line (for Mahogany Ridge Drive). Verification of this sale indicated that at the time of sale, the property was vacant land. This vacant residential site was purchased by the owner of the adjacent property that is improved with an existing single- family home. Unimproved Land Sale No. 5 provided an indicated adjusted value of $129,510 per acre of gross land area. Reconciliation oflhe Market Value Land Estimate: In summary, the appraiser has selected five competitive unimproved sales zoned E, Estates District, transacted between December 2006 and April 2007 for direct comparison to the parent tract and which will provide the database for the application of the Sales Comparison Approach. The indicated adjusted sales prices associated with these five sales range from a low of $91,737 per gross acre for Sale NO.4 to a high of $129,510 per gross acre for Sale NO.5. The arithmetical mean from this database was $113,044 per gross area with an arithmetical median of $110,268 per gross acre. All five sales conveyed property rights involving a fee simple estate and involved market financing or were all cash to seller transactions. Also, all sales utilized in direct comparison to the parent tract were verified to be arm's length transactions. In addition, it was the appraiser's opinion, that a negative 12.0% annual adjustment or a negative 1.0% per month adjustment was appropriate for a market conditions (time) adjustment for the time frame between the sale date and the date of appraisal (February 25, 2008). ") All sales are considered to have the same highest and best use "as vacant" (potential single- family residential development), and are all located in the primary market area. All sales range in size from 1.14 gross acres to 2.59 gross acres, as compared to the parent tract's size of 2.727 gross acres. Furthermore, all sales have a similar land use designation, zoning classification and availability of utilities. Sale Nos. 2, 3, 4 and 5 are considered to have superior road frontages, with all these sales located along less busy roadways. Accordingly, Sale Nos. 2, 3, 4 and 5 were given a negative 10% adjustment for this element comparison. ) Wilcox Appraisal Services, Inc. I I - I I I I I I ~ I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is no! warranted Agenda Item No. 16B8 September 15,2009 f~6\>\l,f99 In conclusion, the final estimate of value, after reviewing each of the five comparable sales utilized in direct comparison to the parent tract, is $110,000 per gross acre, which results in the following estimate of value: Market Value of the of the Parent Tract Land: (2.727 Gross Acres) x ($110,000 Per Gross Acre) = $299,970 Rounded to, Say = $300,000' 'Contributory Value of the Site Improvements Taken: The parent tract is improved with a single-family home and associated site improvements. The only significant improvements that will be taken consist of site improvements including a portion of the dirt/gravel drive, site clearing, fill and grading. Pertinent improvements to establish the driveway connection(s) to White Boulevard will be re-established by Collier County. The appraiser has reviewed cost estimates from the Marshall Swift Manual and has consulted with local contractors pertinent to the cost estimates for the significant site improvements taken. Based on this research and the appraiser's experience, the appraiser has estimated the contributory market value of the depreciated site improvements taken to be $2,300. The following table is provided to help the reader review the appraiser's estimate of the contributory value for the depreciated site improvements taken: 1. Site Clearing/FiII/Grade: 2. Dirt/Gravel Drive: Total: Contributory Value of the Site Improvements Taken for Parcel No. 129 RDUE: Indicated Depreciated Value Rounded $1.400 $900 $2,300 Indicated Replacement Cost $ 1.400 $900 $ 2, 300 % Depree. 000% 000% Summary of the Mari<etValue of the Parent Tract: Based on the aforementioned market data and analysis, the following summarizes the estimated market value of the parent tract and the improvements taken: Market Value of the Parent Tract: = $300,000 $ 2.300 $302,300' Market Value of the Parent Tract Land Contributory Value of the Proposed Site Improvements Taken = Total = . Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Agenda Item No. 16B8 September 15, 2009 Prepared for and property of Collier County Board of Commissioners Pa;gJe656f 99 Reliance upon the appraisal for other uses is not warranted Reconciliation of the Value Indications ] / In summary, the appraiser has obtained the following value indications from the valuation approaches presented earlier in the appraisal report as follows: The Cost Approach to Value: N/A The Sales Comparison Approach to Value: $302,300 The Income Capitalization Approach to Value: N/A Reconciliation is the analysis of alternative conclusions to arrive at a value estimate. Reconciliation is required because different value indications result from the use of more than one valuation approach and within the application of a single approach. Furthermore, the final value estimate should not be derived simply by applying technical and quantitative procedures; rather, it should involve the exercise of judgment. The value conclusion reached should be consistent with market thinking and the quantity of data used should correspond to the amount of data the market considers relevant to the problem. An appraiser shall produce a meaningful, defensible value estimate by considering three criteria: appropriateness, accuracy, and quantity of evidence, Appropriateness relates to the use of certain approaches and specific assignments, All data, calculations, estimates, and adjustments are examined for accuracy. The quantity of evidence is analyzed to determine if the conclusion reached is sufficiently supported in the market. Market data reflects past phenomena, but an appraiser must rely on data to estimate future benefits and the present value of these benefits. Nevertheless, the data available should not dictate the range of future possibilities under consideration. ") As previously stated, the only significant improvements located within the proposed acquisition area consist of site improvements. Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. Therefore, it was the appraiser's opinion that the Market Approach to Value (Sales Comparison Approach to Value) is the only applicable approach for this valuation assignment. The Sales Comparison Approach to Value was considered applicable since an adequate number of similar unimproved sales have recently occurred within the market area that may be utilized by the appraiser in predicting typical buyer and seller behavior. The market data within the Sales Comparison Approach to Value was considered sufficient and adequate to provide a reliable value conclusion. In summary, the appraiser has selected five competitive unimproved sales zoned E, Estates District, transacted between December 2006 and April 2007 for direct comparison to the parent tract and which provided the database for the application of the Sales Comparison Approach. The market data within the Sales Comparison Approach to Value was considered sufficient and adequate to provide a reliable value conclusion. Based on this market analysis, the market value of the parent tract was estimated to have a unit value of $110,000 per gross acre, / Wilcox Appraisal SeNices, Inc. I I I I I I I I I r I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Aaenda Item No. 16B8 ~September 15. 2009 f'lil~6;'bf 99 resulting in a total indicated market value of $300,000, rounded, (2.727 acres x $110,000 per gross acre). The Cost Approach to Value and the Income Capitalization Approach to Value were not considered applicable for this appraisal assignment due to the fact that the parent tract is being valued as if vacant land. Next, the appraiser has reviewed cost estimates from the Marshall Swift Manual and has consulted with local contractors pertinent to the cost estimates for the significant site improvements taken. Based on this research and the appraiser's experience, the appraiser has estimated the contributory market value of the site improvements taken to be $2,300. In conclusion, it is the appraiser's opinion, that the market value of the parent tract, as of February 25, 2008, is $302,300, allocated $300,000 to the land value and $2,300 to the improvements. Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 iI1'~7~llf 99 l Estimation of Reasonable Exposure Time: II In this portion of the analysis, the appraiser will provide the reader with a narrative overview relating to the estimate of the reasonable exposure time or normal marketing period for the parent tract. Exposure time is always presumed to precede the effective date of the appraisal. Exposure time may be defined as follows: the estimated length of time the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal. The appraiser has estimated a reasonable exposure time for the parent tract to be six to twenty-four months, based on the appraiser's research of market activity and available listings and interviews with numerous market participants. ""\ -' Wilcox Appraisal SeNices, Inc. I I I I I I I I I ,. I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 ~7~3f 99 Descriptions and Valuation Analyses of , the Proposed Partial Acquisition Area and the Remainder Properly Wilcox Appraisal Services, Inc. I Agenda Item No. 16B8 September 15, 2009 Page 72 of 99 I I -L . I , , , . I i , . , I I . , I ,J I r [ f ~ I ) J I , I ~ L . ! I '.00 I I I N I W+E s I TRACT 1 27 GOLDEN GATE ESTATES UNIT 27 PLAT BOOK 7. PAGE 11 TRACT 126 I EAST leo' OF TRACT \ Z7 wm", OR 2335/.znJ KUN(;"(SSio\ii).; Of! 10,,3/1210' R:;)DRI;';UC OR 2700/271& I I PROPOSED ROJ.J)WA'( ~aiENT PARCEl.. 129RDUE lO,llCOS!l n. r - -- I I , I I L .U.a) I 4.:10...00 ... .,. I L I WHITE BOULrVAAD ~ I I r OR - OF"FlCw. RECORDS (BOOK/PAGE) lS02I r2ZJ I PROPOSED ROADWAY. DRAINAGE, AND unLlTY EASEMENT (ROUE) EXISTING RlGliT OF WAY DEDICATED TO THE PERPElUAl.. USE OF THE PUBUC PER PlAT BOOK 7. PAGE 17 L.EGAL. DESCRIPTlON FOR PARCEL , 29ROUE A PORTION Of" TRACT 127, COlDEN GATE ESTATES. UNIT 27 AS RECORDED IN PLAT BOOK 7, PAGE '17 OF THE F'UBUC RECORDS OF COLUER COUNn'. FLORIDA, L'11NG IN SECTIONS \ 1 AND 14, TOWNSHIP 49 SOUTH, RANGE 26 EAST, COWER COUNT.Y, FlORIDA BEING MORE PARTICutARLY DESCRIBED AS FOLLOWS. I "THE NORTH 60 n:n OF THE SDlJfH 90 Fro OF THE EAST .80 rEEl or SAID TRACT 127. CONTAINING 10.800 SOUARE FITT. MORE OR L..fSS. I ~ll I~ :IQ ~;W~!t;'7 ..ewc...._,-.l.A/IIll_ 1'I.OIII;M._~1lCl.5JIIl' -- """...................."...I___IWIQ_Wl.", ."......~om:IlC_~__. SKETCH l: DESCRIPTION ONLY NOT A. BOUNDA.RY SURv~ !IC.I.a; 1'.10' FOR: COUJER COUNTY CCNERNIolWT B~O Of" COLHffi' C0w..t5SIONER$. I COLLIER BOUlEVARD SKETCH & DESCRlP'I'ION OF: PROPOSED R1GlIT or WAY PARCEL 12iRDUE CCI.l.I!R COUNTY. TLORIDA PJA~OC~ ..10.........on........ -'_IM,. """"'"'~__~All:.._ lSNo.;_ FlU IW.IE SHC,,>l ~7 SJr:l29ROlII: 1 cw , I I / Partial Acquisition Area I -Wilcox Appraisal Services, Inc.- Prepared for and propen)' of Collier County Board ofCoJnlnisSlllners Reliance llpon the appraisal for other uses IS nOI warranted I I I I I I I I I .- -' I I I I I I I , \ ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 16B8 September 15, 2009 Pqe755f99 PROJECT DESCRIPTION AND IDENTIFICATION OF THE PROPOSED PARTIAL ACQUISITION AREA Proiect Description: Parcel No. 129 ROUE will be utilized for the widening of Collier Boulevard (CR 951) and portions of Pine Ridge Road (CR 896) and White Boulevard. Description of the Proposed Acquisition Area: Parcel No. 129 ROUE is a perpetual, non- exclusive, road right-of-way, drainage, and utilities easement that consist of a strip taking along the northerly right-of-way of White Boulevard. Parcel No. 129 ROUE contains 0.248 acres of gross land area and is rectangular in shape. Specifically, the Parcel No. 129 ROUE has a southern property line along White Boulevard that measures 180 feet; with a depth there from along the eastern and western property lines that measure 60 feet; and a northern property line that measures 180 feet. The only significant improvements that will be taken consist of site improvements including a portion of the dirt/gravel drive, site clearing, fill and grading. Pertinent improvements to establish the driveway connection(s) to White Boulevard will be re- established by Collier County. Leaal Description of the Partial Acquisition Area: The legal description of the proposed perpetual easement acquisition area is as follows: A portion of Tract 127, Golden Gate Estates, Unit 27 as recorded in Plat Book 7, Page 17 of the Public Records of Collier County, Florida, lying in Section 14, Township 49 South, Range 26 East, Collier County, Florida being more particularly described as follows: The North 60 Feet of the South 90 feet of the East 180 feet of said Tract 127, containing 10,800 square feet, more or less. Source: RWA Consulting, Inc., Naples, Florida. VALUATION ANALYSIS OF THE PROPOSED PARTIAL ACQUISITION AREA Value of the Property RiQhts Taken: The appraiser has previously estimated the market value of the fee simple interest of the parent tract to have a unit value of $110,000 per gross acre. This value estimate was obtained through the application of the Sales Comparison Approach to Value. Since the part taken is to be valued as part of the whole, this value will serve as a basis of value for the valuation of the property rights taken. As previously stated, Parcel No. 129 ROUE is a perpetual easement for road right-of-way, drainage, utilities and maintenance of these uses. Accordingly, the proposed easement will essentially take the entire bundle of rights, with the owner only allowed to utilize the proposed easement area for density calculations. Wilcox Appraisal Services, Inc. I I I . . I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 1688 SepteQ:lber 1 ti.2009 Pii!~7i.f'bf 99 ~ Since the proposed taking is an easement versus a fee simple taking, the bundle of rights taken is something less than 100%. However, since the proposed easement precludes almost all practical uses by the owner, the appraiser has estimated Parcel No. 129 RDUE will include 99% of the fee simple value resulting in an estimated overall unit value of $108,900 per acre (0.99 x $110,000). Therefore, the value of the property rights taken is estimated as follows: / Market Value of the of the Property Rights Taken: (0.248 Gross Acres) x ($108,900 Per Acre) = $27,007 Rounded up to, Say = $27,000 Value of the Improvements Taken: The only significant improvements that will be taken consist of site improvements including a portion of the dirt/gravel drive, site clearing, fill and grading. Pertinent improvements to establish the driveway connection(s) to White Boulevard will be re-established by Collier County. The appraiser has previously estimated the market value of the site improvements taken to be $2,300. Summary of the Property Riqhts and Improvements Taken: The following is the appraiser's summary of the value of the property rights and improvements taken from the parent Iract: 1. Property Rights Taken: ........................................................................................ $27,000 2. Improvements Taken: ....................................................................................:..... $ 2,300 Market Value of the Part Taken:......................................................................... $29,300 "'\ Valuation of the Remainder Property, as Part of the Whole: The following sets forth the arithmetic analysis of the valuation of the remainder property, as part of the whole (before value less value of part taken): 1. Market Value of the Parent Tract, Before the Taking: .................................... . $302,300 2. Less Market Value of the Part Taken: .............................................................. $ 29,300 Total Markel Value of the Remainder Property, As Part of the Whole: ............. . $273,000 VALUATION ANALYSIS OF THE REMAINDER PROPERTY "AS SEVERED" The remainder property shall contain 2.727 acres of gross land area and is still rectangular in shape and the same size and shape as before the taking, since the proposed property rights to be acquired involve a perpetual easement for road right-of-way, drainage, utilities and maintenance of these uses. However, the remainder property will be encumbered by an additional perpetual easement located along the northerly existing right-of-way of White Boulevard containing 0.248 acres of gross land area. The remainder property's overall access, availability to utilities, topography, land use designation, and zoning are unchanged. The highest and best use of the remainder property "as vacant" and "as improved" is estimated to remain the same as before the taking. Finally, the remainder property is not considered to be damaged due to the taking of the proposed perpetual easement acquisition area. Most competitive Golden Gate Estates properties are encumbered by 30 to 50 foot wide road right-of-way easements along the property's adjacent roadway frontages. Prior to the taking, the parent tract was encumbered by a 3D-foot wide road right-of-way easement along the .J Wilcox Appraisal Services, Inc. I , I I I I I I I r I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 1668 September 15, 2009 P~76of 99 southern property line and along the property's existing frontage to White Boulevard. As stated above, after the taking, the remainder property will be encumbered by an additional perpetual easement containing 0.248 acres of gross land area located along the northerly existing right- of-way of White Boulevard. Although the appraiser has recognized that most buyers, sellers, and active real estate agents have reported that competitive 'unimproved Golden Gate Estate properties within the market area are typically purchased based on a price per acre of gross land area unit of value, the appraiser has also recognized the proposed additional easement area precludes almost all practical uses by the owner. Therefore, the appraiser has estimated Parcel No. 129 RDUE will take 99% of the fee simple value. Accordingly, the appraiser has estimated the residual value to proposed additional easement area to be 1 % of the fee simple value resulting in an estimated unit value of $1,100 per acre (0.01 x $110,000) for this portion of the property. The appraiser has previously estimated the market value of the undivided fee simple interest in the parent tract to have unit value of $110,000 per gross acre. The remainder land area exclusive of the additional encumbered area taking, containing 2.479 acres (2.727 - 0.248), is estimated to have the same unit value, as before the taking. Based on the aforementioned data and analysis, the following sets forth the appraiser's estimate of the remainder property land as follows: Market Value of the of the Remainder Property Land: Land Area Exclusive of the Additional Encumbered Area Taken: (2.479 Gross Acres) x ($110,000 Per Acre) Rounded to, Say = $272,690 $272,700 = Additional Encumbered Area Taken: (0.248 Gross Acres) x ($1,100 Per Acre) Rounded to, Say = $ $ 273 300 = Total = $273,000' . Building and site improvements located outside the proposed acquisition area are considered to be unaffected. Accordingly, the appraiser has not estimated the contributory value of the building and site improvements not taken. SEVERANCE DAMAGES TO THE REMAINDER PROPERTY Technically, severance damages are calculated as the negative difference between the value of the remainder property, as part of the whole, and the value of the remainder property, as severed. When the value of the remainder property, as severed, is less than the value of the remainder property, as part of the whole, the difference is the actual measurement of the damages to the remainder property. When the value of the remainder property, as severed, is greater than the value of the remainder property, as part of the whole, the difference is not damage but is considered a benefit. Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other Llses is not warranted Agenda Item No. 16B8 September 15. 2009 Pase76Sf 99 '" The appraiser has estimated the remainder property, as part of the whole, to be $273,000, which represents the value of the whole ($302,300), less the value of the part taken ($29,300). The appraiser has also estimated the market value of the remainder property as severed to be $273,000. Therefore, these value estimates indicate no severance damages. COST TO CURE ANALYSIS Based on the analysis of the remainder property, it is the appraiser's opinion, that there is no net cost to cure. SPECIAL BENEFITS Based on the analysis of the remainder property, it is the appraiser's opinion, that there are no special benefits. ~ I .J Wilcox Appraisal Services, Inc. I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal fOf other uses is nol warranted Agenda Item No. 16B8 September 15, 2009 Page 7S!llf 99 . SUMMARY AND CONCLUSION AND THE TOTAL COMPENSATION ESTIMATE I Accordingly, based on all the aforementioned data and analysis, the following summarizes the appraiser estimates of the total just compensation estimate: I I Summary of Values for Parcel No. 129 ROUE: Proposed Additional Easement Acquisition: I Bebe Property: A. Land: S. ImprO\ements Tak.en: C Tolal: Fee Indicated Indicated Indicated Value DID of Value ~ Y!!Y! Value (Perk.) Fee IPerAc.) (Acres) Indicated Rounded J..Q!!! $110.000 10000% $110.000 2727 $299.970 $300.000 $2.300 $302,300 $110.000 99.00% $108,900 0248 $27.007 $27,000 $2.300 $29,300 $273,000 I I 2 Proposed Part to be Acquired: A. .Additional Encumbered Land Taken: B A"oposed Site ImprO\.ements Taken: C. Totat 3 Remainder as Part of the Wiele: I 4 Remainder Property: A. Land: 1. Land Area (5:clusive of /ldditional Encunbered Land Taken): 2 Addlional Encumbered land Taken: Totals: B. lmprol.ements Taken: C, Total: $110.000 $110.000 10000"/" $110,000 100% $1.100 2479 0248 2727 $272,690 $273 5272.963 $272.700 $300 $273,000 $0 r $273,000 I 5 Damages (Tota~: $0 6. Specel Benefits: $0 I 7. Damages (Net): $0 I Summarv of Total Comoensation: 1. Proposed Part to be Acquired: A .lIddilional Encumbered Land Taken: B lmpro\ements Taken: C. Total: 2 Damages (Net): 3. Cost to Cure, Net TOTAL COMPENSATION: $110,000 9900% $108.900 0.248 $27,007 527.000 $2.300 $29,300 $0 $0 $29,300 I I I I ~ I Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted Agenda Item No. 1668 September 15"" 2009 "'~7(9l!f 99 " i Addendum ") / Wilcox Appraisal SeNices, Inc. I I I I I I I I I r I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for olher uses is not warranted Agenda Item No. 1688 September 15,2009 flll~7!i'bf 99 I Assumptions and Limiting Conditions The Market Value estimate of the property or properties appraised herein is subject to certain assumptions and limiting conditions. Specifically they are: 1. Any legal descriptions furnished are assumed to be correct. 2. No responsibility is assumed for matters legal in character, nor is any opinion rendered herein as to title, which is assumed to be good and merchantable. It is assumed that the property is under responsible ownership and management on the appraisal date. 3. It is assumed that surveys and/or plats furnished to, or acquired by, the appraiser and used in the making of this report are correct. The appraiser has not made a land surveyor caused one to be made, and therefore, assumes no responsibility for their accuracy. 4. Certain data used in compiling this report was furnished the appraiser from sources which they consider reliable, however, they do not guarantee the correctness of such data, although as far as is reasonably possible, the data has been checked and is believed to be correct. 5. The soil of the area under appraisement appears to be firm and solid, unless otherwise stated. Subsidence in the area is unknown or uncommon but the appraiser does not warrant against this condition of occurrence. 6. Subsurface rights (minerals and oil) were not considered in making this report unless otherwise stated. 7. The tracts that according to survey, map or plat, indicate riparian rights and/or littoral rights are assumed to go with the property unless easements or deeds of record were found by the appraiser to the contrary. 8. Possession of this report, or copy thereof, does not carry with it the right of publication or reproduction, nor may it be used by any but the applicant without prior written consent of the applicant and the appraiser, and in any event only in its entirety. 9. The appraiser by reason of this report is not required to give testimony in court with reference to the property herein appraised, nor is the appraiser obligated to appear before any governmental body, board or agent unless arrangements have been previously made therefore. 10. A careful inspection was made of any and all buildings involved in this appraisal report and damage, if any, by structural failure, termites, dry rot, wet rot or other infestations was reported as a matter of information by the appraiser, but no guarantee as to the amount or degree of damages, if any, is given herein 11. The distribution of the total valuation in this report between land and improvements applies only under the existing program of utilization. The separate valuations for land and buildings must not be used in conjunction with any other appraisal and are invalid if so used. Wilcox Appraisal Services, Inc. I I I I I I I I I I I I I I I I I I I Agenda Item No. 1688 September 15, 2009 Pa;ge8I6Ef 99 Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted 12. Neither all nor any part of the contents of this report shall be conveyed to the public through advertising, public relations, news, sales or other media without the written consent and approval of the author, particularly as to valuation conclusions, the identity of the appraiser, or firms with which they are connected, or any reference to the Appraisal Institute, or to the MAl designation. 13. Unless specifically stated in the report, the appraiser did not determine the flood plain status of the property appraised. If such data is available, it is recommended it be obtained prior to any development that might be contemplated. 14. Inspection of the parent tract revealed no obvious environmental hazards. The existence of potentially hazardous materials used in the construction or maintenance of the building, such as the presence of urea formaldehyde foam insulation, and/or existence of toxic waste, which mayor may not be present on the property, has not been considered. The appraiser is not qualified to detect such substances and reserves the right to amend or alter this report and the value conclusions tendered herein should an Environmental Risk Audit (or other similar study) be conducted on the parent tract at a later date. 15. This appraisal was prepared by the appraiser who signed this report for the exclusive use of the client. The information and opinions contained in this appraisal set forth the appraiser's best judgment in light of the information available at the time of the preparation of this report. Any use of this appraisal by any other person or entity, or any reliance or decisions based on this appraisal are the sole responsibility and at the sole risk of the third party. The appraiser accepts no responsibility for damages suffered by any third party as a result of reliance on or decisions made or actions taken based on this report. Wilcox Appraisal Services, Inc. .... ) ./ I I I I I I I I I r I I I I I I I ~ I Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 16B8 September 15,2009 ~86af99 Qualifications of the Appraiser R. Alan Wilcox, MAl, SRA OVERVIEW R. Alan Wilcox has over 23 years of appraisal experience in the state of Florida specializing in eminent domain and litigation assignments. Mr. Wilcox has worked for both the condemnor and the property owner with experience in a variety of appraisal problems concerning commercial, industrial, residential, and special use properties. Mr. Wilcox has expertise in providing the client with strong market research for a reliable factual foundation to support the valuation opinion combined with effective communications including report writing, trial exhibits and expert testimony. PROFESSIONAL MEMBERSHIPS . MAl and SRA Designations, Appraisal Institute, Certificate No. 9613 . Member, Appraisal Institute, Leadership Development & Nominating Committee, 2005- Present . Member, Appraisal Institute, Regional Ethics and Counseling Panel, 1993-Present . Member, Real Estate Investment Society, Present . Member, National Board of Directors, Appraisal Institute, Region X, Chair, 2004 . Member, National Board of Directors, Appraisal Institute, 2001-2003 . Director, Association of Eminent Domain Professionals, 2000-2001 . President, West Cost Florida Chapter of the Appraisal Institute, 2001 . Regional Representative, West Coast Florida Chapter of Appraisal Institute, 1994-2001 . Vice President, West Cost Florida Chapter of the Appraisal Institute, 2000 . Secretary, West Cost Florida Chapter of the Appraisal Institute, 1999 . Treasurer, West Cost Florida Chapter of the Appraisal Institute, 1998 . Member, Region X, Appraisal Institute, National General Appraisal Board Guidance Subcommittee, 1996-1998 . Director, West Coast Florida Chapter of Appraisal Institute, 1993-1996 . Chairperson, MAl Admissions Committee, West Coast Florida Chapter of the Appraisal Institute, 1997 . Chairperson, MAl, Candidate Guidance, West Coast Florida Chapter of the Appraisal Institute, 1993-1996 AWARDS . Outstanding and Dedicated Service Award, West Coast Florida Chapter of Appraisal Institute, 1996 STATE CERllFICAllONJUCENSES . State-Certified General Real Estate Appraiser, RZ 306 (Florida) . Real Estate Brokers License, BK 326544 (Florida) Wilcox Appraisal SeIVices, Inc. I I I I I I I I I I I I I I I I I I I Prepared for and property of Comer County Board of Commissioners Reliance upon the appraIsal for other uses is nol warranted Agenda Item No. 16B8 September 15.., 2009 rP~8E~f 99 , Qualifications of the Appraiser R. Alan Wilcox, MAl, SRA - Continued EDUCATIONAL BACKGROUND . Bachelor of Science Degree, West Virginia University, Morgantown, West Virginia, 1971 o Graduated with High Honors (No. One in Graduating Class) o Gamma Sigma Delta National Honor Society of Agriculture o Xi Sigma Pi National Honor Society of Forestry o Senior Recognition Certificate (No. One in Graduating Class) o College Bowl Participant o Senior Scholarship Award of Merit . Master of Science Degree, University of Washington, Seattle, Washington, 1976 . Post Graduate, 20 quarter hours, University of South Florida, Fort Myers, Florida, 1980- 1983 . Post Graduate, 9 semester hours, Nova University, Fort Lauderdale, Florida, 1982 REAL ESTATE APPRAISAL COURSES AND SEMINARS COMPLETED R. Alan Wilcox, MAl, SRA, has completed the specialized appraisal educational requirements for obtaining the MAl, SRA, designation and the continuing education program of the Appraisal Institute, as well as the continuing education requirements for State Certification. Furthermore, R. Alan Wilcox, MAl, SRA has made special efforts to exceed the required minimum educational requirements and to attend the highest quality of appraisal educational offerings, including courses and seminars sponsored by the Appraisal Institute, American Law Institute & American Bar Association (All-ABA), Continuing Legal Education (CLE) Institute, and the Association of Eminent Domain Professionals. ') EXPERIENCE . President/Owner, Wilcox Appraisal Services, Inc., Cape Coral, FL, August 1993 to Present . Associate Appraiser, Hanson Real Estate Advisors, Inc, Fort Myers, FL, February 1990 to September 1998 . Expert Witness for the Florida Real Estate Appraisal Board, July 1998 . Associate Appraiser, Horizon Appraisal Services, Inc., Fort Myers, FL, June 1986 to February 1990 . Associate Appraiser, First Appraisal Services, Fort Myers, FL, March 1986 to June 1986 . Associate Appraiser, Richard L. Futral & Associates, Cape Coral, FL, July 1985 to March 1986 . Associate Appraiser, Calhoun & Associates, Fort Myers, FL, June 1984 to July 1985 / Wilcox Appraisal Services, Inc. I I Widening of Collier Boulevard 951) Pine Ridge Rd and Coliier Blvd Naples, FL 34119 (CR Site Map Prepared by Wilcox Appraisal Services, Inc. February 19, 2008 I ,"',,- ....., - ~r"i L...",J.. ..J ~ '\ ,-<",. -. 'i;)~:;;r; X~iti.~.~ _. .lO '~'" '/;, ~\klc~:r.n I , I ! 0 :'.1 \~f1:~1&~~~ t ,"-...,>=,~,-"" ",'11.. ~Jr ;:;:l~~~,l:t~r_ ::"t" _,''!'''-, !i"r,i '''~cl-:i:::... ,.-'. l!\.,"~;)I~' . \ '"j iSlJi,"fmb"'I ~f't'J:':~r~ 4 ' '~rii\~-;;;~~1 - {} F~l~\ '(,m~r'CilIJ't~'T "i - -.::..:,. ~, "~;.;...~ '1$<'"' ~ ".1':'bIJI":>..;~lr{'.:: ~ ~f- ~-+ :''';' 1 u.. ':", I:~'t -- ____l d't aEas ---~ ,,'N,' <f"1l..Il'1'~ -: ...~I~s (<<J i' i 1._ __.b...w'I-~':~fl'i:~J -1S~'l;i'Nt701O.-0,C.IL';;:::u:unt::'.J-Clw:: ~ l " ,~ ,- q:",'), eMf' t ~""" i ' ~ :.. C.J~' ~..nt Cora '. V" ,:;::., ", '':t''.~~':('w.'''1''f .....to ."lfl trY Cll.Ib ~ .:..." J L ,,"t"!~,.~- , !.. ; \-,..J<~ ,., ", ..; ----..:.._.; . ',/' . ~--. - IU f"'dtlr L ;:)',.lMU"i Cll.;b r.... - ,,' - . ::;D(d~.n Gil\;;\-".'~ I 1~- NJl1ht5~CI~~"!i~'l~:; ---,---~ ~.., "-':'. \ -. r'..,<-w, :,,.'"',., ~ I t-w<~ ^"""'~ >. ~ i =":"-.: ,. ~ t ~"""--- " -0' : X.t,' ...------ - ---' ;.-- '-'~;_, ,.I. ,/.... . .=.,,~8~~i."r''! '" .1("" 1,'6..,,,,j tl - .-R..~-::'.e., .-": ~f~:l~.<"~;:~::.,e..;:)- "'... Ir')""~c'~-s.3:-.:'f ::Il.!'f -' l - ~jt.,,~:f'W; '1~'=,"<lI :;';J ':;:...: ~_~;' ""~'~,..' ~. '!j.."W :",,~C\iJit,: ,=W-.-J ...,,;J..;>.:. .\0I::r....~ ~F~e- ,,~ ... ;:.1C.;es ~., T "hou ~]~~,:~.:,~~:r. ~,i''(-nc~~~ ;~~;_" I:.L. '\ I '. . -::::~~.... - '~1,4~~.. _, -', ...~..,.-.:;i't':'"'---""1;I-.:\<r--rl _.\.L ; . ~"1'''1 ,":") , G.:;if':,:t, Pom1 I l ." ...rrr:'''''a.1':-:~~\\'F~'''''~ it " ,;~. .' I I I I ~eRi ge Rd and Collier Blvd r -' I I I I ~-"'- :> "~:;'J$, ;-~AJndlJ 5par!;s !'-:Irit ,,,-, I ',;;y~, ;~.:f;';;i~c'n>>: '.-l, I ~ " Florida I , J' ~ 'h"(~2h~ I !:. ~ CtlOO1ESRl O~.nd ",ports .nd m.p. 'ram Buslnllp Analyst Onlll'lfl. Otder III: WWW.lI;M cam/h.o or call 800-292-2224 I Latitude: Longitude: ,-YO" ..r.. (~, :., "~~5\ .eJ \,#~i \, ::a i5. L_ i,MiI -;::, 1 \1t~;~\ t~ Y't"",.~ Agenda Item No. 1668 September 15, 2009 Page 83 of 99 26.212345 -81.687508 , l._.......-.,...-_ \.f;~ I~j " _,' ::2.'"J _,_~L...c..~ -------- ~ - .-- ~,;,':r CQtJ f1'1(y ~ " ~ g ~ i '< -"~ i=tcr;dl Pllge 1 uf1 I I I I I I I I I I I I I I I I I I I Agenda Item No. 1688 September 15, 2009 ExecutivePs~ffla?y Prepared by Wilcox Appraisal Services, Inc. , Pine Ridge Rd and Collier Blvd Widening 01 Comer Boulevard (CR 951) Naples, FL 34119 Site Type: Radius Radius: 1.0 mile Pine Ridge Rd and Collier Blvd Pine Ridge Rd and Collier Blvd Naplea, FL 34119 Radius: 3.0 mile Naplea, FL 34119 Radius: 5.0 mile 2007 Population Total Population 2,128 44,788 Male Population 51.1% 51.4% Female Population 48.9% 48.6% Median Age 38.4 38.4 2007 Income Median HH Income $73,389 $64,607 Per Capita Income $26,180 $30,411 Average HH Income $81,136 $91,637 2007 Households Total Households 708 15,179 Average Household Size 3.01 2.94 1990~2000 Annual Rate 8.37% 5.09% 2007 Housing Owner Occupied Housing Units 80.0% 67.6% Renter Occupied Housing Units 17.5% 21.4% Vacant Housing Units 2.5% 11.0% Population 1990 Population 662 19,172 2000 Population 1.692 32,965 2007 Population 2,128 44,766 2012 Population 2,506 S3,012 1990-2000 Annual Rate 9.84% 5.57% 2000-2007 Annual Rate 3.74"10 5.02% 2007-2012 Annual Aate 3.32% 3.44% 86,920 50.00/0 50.0% 41.3 $65,652 $34,227 $91,424 33,264 2.67 8.36% 63.0"10 20.3% 16.7% 27,483 59,410 88,920 109,001 8.01% 6.67% 4.16% In the identified market area, the current year population is 88,920. In 2000, the Census count in the market area was 59,410, The rate of change since 2000 was 6.67 percent annually. The five-year projection for the population in the market area is 109,001, representing a change of 4.16 percent annually from 200710 2012. Currently, the popUlation is 50.0 percent male and 50.0 percent female. ') Households 1990 Households 2000 Households 2007 Households 2012 Households 1990-2000 Annual Rate 2000-2007 Annual Rate 2007-2012 Annual Rate 253 56S 708 835 8.37% 3.68"10 3.35% 6,620 10,875 15,179 18,08S 5.09% 5.48% 3.57% 9,759 21,777 33,264 41,114 8.36% 7.01% 4.33% The household count in this market area has changed from 21,7n in 2000 to 33,264 in the current year, a change of 7.01 percent annually. The five.year projection of households is 41,114, a change of 4.33 percent annually Irom the current year total. Average household size is currently 2.67, compared to 2.72 in the year 2000. The number of families in the current year is 24,417 in the market area. Housing Currently, 63.0 percent of the 39,936 housing units in the market area are owner occupied; 20.3 percent, renter occupied; and 16.7 percent are vacant In 2000, there were 25,791 housing units- 62.0 percent owner occupied, 22.2 percent renter occupied and 15.8 percent vacant. The rate of change in housing units since 2000 is 6.22 percent. Median home value in the market area is $436,481, compared to a median home value of $192,285 for the U.S. In five years, median home value is projected to change by 2.75 percent annually to 5499,940. From 2000 to the current year, median home value changed by 16.86 percent annually. J =:ZOO7ESRI On-d.mand ...porta and maps from BuslM.. Analyllt Onlln.. Ora..- 8l. __.Ii e~o or c:a1l80G-Z92.2224 2/19/2008 ,"-"e1of2 I I I I I I I I I r I I I I I I I ~ I Agenda Item No. 16B8 September 15, 2009 Executivef5~rn%f~?y Prepared by Wilcox Appraisal Services, Inc. Ridge Rd and Collier Pine Ridge Rd and Colller Blvd Pine Ridge Rd and Collier Blvd Pine Blvd Widening of Collier Boulevard teR 951) Site Type: Radlu. Median Household Income '990 Median HH Income 2000 Median HH Income 2007 Median HH Income 2012 Median HH Income , 990.2000 Annual Rate 2000.2007 Annual Rate 2007.2012 Annual Rate Naples, FL 34119 Radius: 1.0 mIle Naples, FL 34119 Radius: 3.0 mile Naple., FL34119 Radius: 5.0 mile S35,455 SS6,561 $73,369 $6S,363 5.15% 3.67% 3.07% $35,362 $50,214 S64,607 $7S,724 3.56% 4.11% 3.23% $35,716 SSO,936 $6S,6S2 $77,690 3.61% 4.14% 3.42% Per Capita Income 1990 Per Capita Income 2000 Per Capita Income 2007 Per Capita Income 2012 Per Capita Income 1990.2000 Annual Rate 2000.2007 Annual Rate 2007-2012 Annual Rate $14,309 $13,619 S1 S,387 $20,097 $21,163 $25,224 $26,160 $30.411 $34,227 $30,609 $36,03S $42.22S 3.45% 4.36% 5.0'7"k 4.32% 5.96% 5% 3.17% 4.58% 4.29% $40,549 $39,706 S42.621 $63,596 S64,491 S66,162 $61,138 $91,637 S91,424 $94,728 $114,138 $111,893 4.6% 4.970/0 4.76% 3.97% 5.78% 4.81% 3.15% 4.49% 4.12% Average Household Income 1990 Average Household Income 2000 Average Household Income 2007 Average HH Income 2012 Average HH Income 1990.2000 Annual Rate 2000-2007 Annual Rate 2007-2012 Annual Rate Households by Income Current median household income is $65,652 in the market area, compared to $53,154 for all U.S. households. Median household income is projected to be $77,690 in five years. In 2000, median household income was $50,936, compared to $35,718 in 1990. Current average household income is $91,424 in this market area, compared to $73,126 for all U.S. households. Average household income is projected to be $111,893 in live years. In 2000, average household income was $68,162, compared to $42.821 in 1990. Current per capita income is $34,227 in the market area, compared to the U.S. per capita income of $27,916. The per capita income is projected to be $42,225 in five years. In 2000, the per capita income was $25,224, compared to $15,387 in 1990. Population by Employment Total Businesses Total Employees 848 3,228 1,686 8,220 55 164 Currently, 96.4 percent of the civilian labor force in the identified market area is employed and 3.6 percent are unemployed. In comparison, 93.4 percent of the U.S. civilian labor force is employed, and 6.6 percent are unemployed. In five years the rate 01 employment in the market area will be 96.9 percent of the civilian labor force, and unemployment will be 3.1 percent. The percentage of the U.S. civilian labor force that will be employed in five years is 93.9 percent. and 6.1 percent will be unemployed. In 2000, 63.6 percent of the population aged 16 years or older in the market area participated in the labor force, and 0_0 percent were in the Armed Forces. In the current year, the occupational distribution of the employed population is: . 54.4 percent in while collar jobs (compared to 60_2 percent of U.S. employment) . 20.8 percent in service jobs (compared to 16.5 percent of U.S. employment) . 24.8 percent in blue collar jobs (compared to 23.3 percent of U.S. employment) In 2000, 7B.9 percent of the market area population drove alone to work, and 4.2 percent worked at home. The average travel time to work in 2000 was 24.3 minutes in the market area, compared to the U.S. average of 25.5 minutes. Population by Education In 2000, the educational attainment of the POPUlation aged 25 years or older in the market area was distributed as follows: . 17.2 percent had not earned a high school diploma (19.6 percent in the U.S.) . 30.3 percent were high school graduates only (28.6 percent in the U.S.) . 6.1 percent had completed an Associate degree (6.3 percent in the U.S.) . 16.0 percent had a Bachelor's degree (15.5 percent in the U.S.) . 7.6 percent had earned a Master's/Professional/Doctorate Degree (8.9 percent in the U.S.) Q2007!SRI On-Oemllnd ~porta .nd m.~ h'om Busin... An.lyst Onlm.. Order at www...rl.t:o~o or ~II eoG-2!l2-2224 ""'12008 Pq2ot2 I I I I I I I ~GE Ul ~l"'--" 1 ""'fY.....a-";~J\A80FP"3:'11~: ,Pill! I wu. <f!t'1'?- -:"~io'r'._\, iJ;it.-\il _ \, : ;;~ . -'CIA--- Q ~-0, ,o!/''f- \fA'a11 b1.~ic..~ ~ -s..-.',,,,~) I ~." J ~lllJoue >.~ I ,r I ' - ,r,CGNDGS I _~. '1'.' . ..,,, ' tl', "i .;j''- I "r1 -;: w ~~~}d:E\.\~E.2-~, ,r-Y~G!V'li$:fWE ~''''. ~ '; ~ \, _ ClR I "-', _ ~ WE::h'.EWoOO ",!,~jA~\~, THE.:', ,. '~,'P~ ~ , ~' . ' ./ j .-. !VEf<C~ ~ I. I VINEYARDS :%., ~'Y i~' l'3[f;~~: REAL . ;i.~ ,I'~I- " ..JJl',",JBLE ;<,.=~Q.~'~",_I~!"'''''~,~ctNf, ' , \ ~VE . _--!t-~:~~J,." ,_..cG1l'I_,:')/ ''i-:/~~ !~'\ ',I ! ~ .". I ~':::::;t~'..,""r'" ,I ,I~. i ...J..y.~..........!I I~ i; ,',,~lJ~J S~ t~ ~-f(~OjI- I O~, ' B: '~,VAW~~'~ ~ \ ~TiIA ) 2! :/Sl. 'OAJ:" _:::..5 ,,,'6,~r,L.~S1-~$i rt. \ ,"VSD'GItA""" {:..-"" , ~,"<'!~ .;.:~.~<n' Jr,I (--t., \,\, ~~i.'iJ"""'S~t:'..:.ll~e !:' .Wlt~,;,~"~'~ ;Z}!~~ .".:~~! lI."r ~~~IlV"'I~'~~''''''' j'51~ -_~~_' _ >r.l.. t1 Iqlll '-_" ' " '''!if \ .r"ill'~ .:.lBIH\I1I II ~ ~ '~.i'<Tf~ J.' PINE ;Y ~.T~,_. Agenda Item No. 1688 September 15, 2009 D a q H . CHERRY WOOD DR , 0 ^~^.- " ~^.~ " ~ m< 'w .~ u ~ 0' > '" HICKORY WOOO OR OT\L ...~ "i...._ ;no " "' )' ;;;! -, COP.A.L WOOD DR ,W .' >AI> " --),~-:--.., '" ,. ~~I!I-~ ~!;,/i~ " J!I>l.~.b , g ......\~.....~r , . -."./ j. i"~ !llL -""--- co, .!:~-_. 'li'ol , --- TEAKWOOD OR '5T '" -~. '" " ~ ... GOLD _'''''''Fssn. _ _~__2~__ "_._~~ '" '" .. OWoHOOANY RlllGE DR "'0 '" ^--,?,~ ~ " 0 ~ ;!I '" 51 81 - " S"Y '" '" .. o ~' , n__. , "" '"' , .~- . ~ ~ TTM AV P-'LME1"TO \NOOOS OR T"MAR,N!) RIDGE OR "I " '" _!!O ~__SW SYCAMORE OA SllB.l.~t : " , I I I I I I I I I I I I ._n -~. ~ ;r~- ~ ~ t!M~.--'--- ... I.lf!~,"'" fRAffORn';Z:loi.,. iLl1E .. !... .-,-.-" .- ~~ ~ .:;'" ;~\ ;Y WYNDEMERE o ,w~ ~ ,~ """" - 'f i._ ..,,~ ~ " 8 gE ,----",_:.:.0:.; . . ~ :; ;; ~!rr'.~ ""!"C " i F. ~ ..- T ~ '0 . RIDGE '.(896) RD '" ,w AV " &N ,,,,,:...."'j;.~ -6-"--"'-~. " 11."1 lOW l_rl'"!:!..""_ 11TH " . m ~ ~ ,,,' ., ,w "" " __~!i___ ,.t. ; ~'!--~~~_. -~-~~~... " A'~ ~~ ~ t5T~!..._^__~_.______ sw "" " ,m -..'^"--!!.!!!_.. _Lei 19TH AIJ SW ~IST " .... ,,., " 'W :1;illol " __Sw ''''' " 'W .25.~_.. &""'[ ..~V~ L. r l......cr.tl~. 'T1:'i:E:.. __...lltl "_,Q > ... II _~.Q3L _L~__ ~.~ -q,"~~~,--- - .~ SUR ".""-<.......~ ~__CI?>rf~ (;FlASS till \. \ ,.,."'.\Zol,....... ""'''"'''''', __~~~_.'",.... J,~"~!,,,^..,~,,...,,J!:!... GOLDEN GATE- ~f~~~.... ""~,I'.lI"O_"U s-.o_ct~ ",~"r... MCM". . aNrP. -"-!mo lEif"kN:- -----.3!!!... '" ,w ~ ~ :n r,; " 11$T ,w ~ w~r~ r~:.f""'-:"-;';' r;'f:1BERKSHIRE-!'" ..."YIUAGL.~~ 't:;'~ _c,-:c==":..- c.,., a.>T~ "" -, Unimproved Land Sales Map J -Wilcox Appraisal Services, Inc.- i Prepared for and property ofCoJlier County Board of Commissioners Reliance upon the appraisal for other uses is not warranted N I I I- I I I I I I r I I I I I I I ~ I '\ Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 1688 September 15, 2009 Page 87 of 99 SALES DATA Recording Data Grantor Grantee Sales Date Sales Price Financing Conditions of Sale Sales History Legal Description PROPERTY DATA Property Type Present Use Highest and Best Use Location Roadway Frontage Folio No. STRAP No. Land Use Designation Zoning Size Dimensions (Gross) Easements Utilities UNIT OF COMPARISON Sales Price/Gross Acre VERIFICATION DATA: COMMENTS: UNIMPROVED LAND SALE NO.1 Collier County, Florida, OR Book 4165, Page 3318 Bonnie Padron Tania Cantin December 27, 2006 $325,000 Cash to seller transaction Typical market The sale property previously sold for $200,000 on August 28, 2006 The North 150 feet of Tract 112, Golden Gate Estates, Unit 1, according to the plat thereof recorded in Plat Book 4, pages 73 and 74, Public Records of Collier County, Florida Residential Vacant land Single-family residential development The West side of Collier Boulevard (CR 951) between 3'd Avenue S.W. and 5'h Avenue S.W. Collier Boulevard (CR 951) 36617600003 325600 11204B10 Estates Estates 2.27 Gross Acres 150' x 660' None Telephone, Electric, Well, Septic $143,172 Per Gross Acre R. Alan Wilcox, MAl, SRA, verified this sale on April 13, 2007 with Tania Cantin, grantee, 239-352-9395; and on April 24, 2007 with Bonnie Padron, grantor, 239-348-2648. Verification indicated the sale property was vacant land at the time of sale. This vacant residential site was purchased by the owner of the adjacent property that is improved with an existing single- family home. Wilcox Appraisal Services, Inc. 1633 S.E. 41.t Street. Cape Coral. Florida 33904.7470 239-542-2311 . Fax 239-549.8704 . Emall awllcoxmaisra@comcastnet I I I I I I I I I I I I I I I I I I I @) 150 16S 150 180 165 86 io) Unimproved Residential Land Sale 1 @ ~ ~ lID ~ e 165 165 165 165 165 165 150 180 Agenda Item No. 16B8 September 15, 2009 @ <0 ~ <0 ~ <0 ~ "0 0 M ~ 91 109 102 0 <0 <0 330 ~ @ ~ 110 e @ @ ________ ______ __________ _____m_ m____n _______ ._______ _n_____________ _____n_________ 3rd Avenue S.w. ~ .-------- -------- --------- -------- ------- -------- -----. -- - --- - - 111 @ ~ @ ~~~=~=~ ~===~~~~ ::::=:::::~~:~:::I:=_~~~~~~=::: :~:::::~~:-~th -A~~~,~~-s.w===:=-~-==:=:::::::=:: Unimproved Land Sales Map - Wilcox Appraisal Services, Inc.- Plepared ror and property ofCoHier COUllly Board of Commissioners Reliance upon the appraisal for olher uses is not warranted I i i i i / i i i i i i i i i f' i i i i i I i i i i i I i i i 1 i : is i 1-- .0::: I 1......1 1 '<( i IZ I 1.,<( 1 1 () 0 1 I <0 i>- .,LII- ~ IZ :g . ':J ,{..I '+ 10 ,.L (j) Ii () J !....,/ ~ I I 1 i I i i 1 i i i i Cil, O::i ~ I: I, 1 o :! r--- o M M / - o ~ ~ - - t - / O' .:!, - - - o ~ ~ - .J i N I . I I I I I I I ,. , '- I I I I I I I /" " ~ I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 1688 September 15, 2009 Page 89 of 99 SALES DATA Recording Data Grantor Grantee Sales Date Sales Price Financing Conditions of Sale Sales History Legal Description PROPERTY DATA Property Type Present Use Highest and Best Use . Location Roadway Frontage Folio No. STRAP No. Land Use Designation Zoning Size Dimensions (Gross) Easements Utilities UNIT OF COMPARISON Sales Price/Gross Acre VERIFICATION DATA: COMMENTS: UNIMPROVED LAND SALE NO.2 Collier County, Florida, OR Book 4202, Page 0806 David Malo and Melody Malo Robert L. Engler and Melissa Engler March 23, 2007 $340,000 Cash to seller transaction Typical market No arms length transactions of the sale property in the past three years The East 160 feet of tract 2, Unit 1, Golden Gate Estates, according to the plat thereof, recorded in Plat Book 4, Page 73 and 74, of the Public Records of Collier County, Florida. Residential Vacant land Single-family residential development The North side of 71h Avenue S.W. approximately 0.90 miles west of Collier Boulevard (CR 951) 7'" Avenue S.W. 36610100005 325600214B10 Estates Estates 2.50 Gross Acres 160' x 680' 50-foot wide road right-of-way easement along the southern property line (for 7'" Avenue S.W.) and a small easement along the western property line for the encroachment of a concrete drive for the adjacent improved property Telephone, Electric, Well, Septic $136,000 Per Gross Acre R. Alan Wilcox, MAl, SRA, verified this sale on September 4, 2007 with Melody Malo, grantor, 239-455-6052; and on April 16, 2007 with Diane W. Beattie, listing agent, 239-394-8121. Verification indicated the sale property was vacant land at the time of sale. Wilcox Appraisal Services, Inc. 1633 $.E. 41at Street. Cape Coral. Florida 33904-7470 239.542.2311 . Fax 239.549.8704 . Emal! awllcoxmalsra@comcast.net I I I I I I I I I I I I I I I I I I I Agenda Item No. 16B8 September 15, 2009 a Unimproved Residential Land Sale 2 f.@ ~@ "W -~- o 0 0 .-~ ~ =-~-~ --~5-~ -10--------- --~ ---- ~-- ------- -----~ ---------- --------. 2-- ---19~--- -----;98.--- , -----------1--------- ------- --------- -------- -----.--- ~---------- -_.-..-.._-- , , I , 1 3 14 I 19 30 35 '" I 0 'l!l> 0 0 , R SUB '" '" I 1112 PG 39 '" '" @ <$J> CD I ~ @ @ @) @ , @ , , , , I , , , 205.10 198 180 I 150 165 165 165 165 165 165 , , 160 7 330 170 160 180 15(, 15 ~ 18 31 34 / @ 0 ~--------------------- D OJ V '" @ @ @ @ C8> @ @ . --------. --_._-----_... ~-~ -'--'-'---'-'~'-- .. -----.----- ---'--- --..---------- --- --..'--.---.--- ...-----.-.---- _._-_....__._--- -------" 7th Avenue S.w. .. -.._-- -'------.........-------.---- -.--- ----_._------ -------- -------- ---'.._-- -,,------ ..-------- --.------.. -- --''''-'' --- 608.61 16 17 32 33 " Unimproved Land Sales Map ./ i - Wilcox Appraisal Services, Inc.- Prepared for and property of Collier County Board of Commission en Reliance upon the appraisal for other uses is not warranted N I ~ I I I I I I I ~ I I I I I I I ~ ~ I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 1688 September 15, 2009 Page 91 of 99 SALES DATA Recording Data Grantor Grantee Sales Date Sales Price Financing Conditions of Sale Sales History Legal Description PROPERTY DATA Property Type Present Use Highest and Best Use Location Roadway Frontage Folio No. STRAP No. Land Use Designation Zoning Size Dimensions (Gross) Easements Utilities UNIT OF COMPARISON Sales Price/Gross Acre VERIFICATION DATA: COMMENTS: UNIMPROVED LAND SALE NO.3 Collier County, Florida, OR 800k 4206, Page 1777 Jorge Aguiar Toteta Inc. March 30, 2007 $212,000 Cash to seller transaction Typical market No arms length transactions of the sale property in the past three years The West 105 feet of Tract 86, Golden Gate Estates, Unit 34, according to the map or plat thereof as recorded in Plat Book 7, Page 23, Public Records of Collier County, Florida Residential Vacant land Single-family residential development The South side of Boxwood Way (f/k/a 10'h Avenue S.W.) approximately 0.50 mile east of Logan Boulevard Boxwood Way 38396640007 3376008614816 Estates Estates 1.59 Gross Acres 105' x 660' 3D-foot wide road right-of-way easement along the northern property line (for Boxwood Way) Telephone, Electric, Well, Septic $133,333 Per Gross Acre R. Alan Wilcox, MAl, SRA, verified this sale on April 13, 2007 with Colleen A. Osmolski, listing agent, 239-455-4202 and with Verna 80S, selling agent, 239-659-4200. Verification indicated the sale property was vacant land at the time of sale. Wilcox Appraisal Services, Inc. 1633 S.E. 41"' Str..t . Cape Coral. Florida 33904.7470 239-542-2311 . Fax 239-549-8704 . Emall awllcoxmalsra@comcast.net I I I I I I I I I I I I I I I I I I I Agenda Item No. 16B8 September 15, 2009 D~, Cl'J,' QQ Unimproved Residential Land Sale 3 ~r~ 0-@ Ie; if 16 II: :! I I' I It. ,', <D. " ii / ~)~ iii / -=iIJ ~~ --, 3.1, ~, I ., ii ~ ~ iii ... '" . " 3' ~" ii '" :; @ <D> .." '" 37 @ ~ ,~ 1',' Ii I: 27 I' d ,I ; I Iii 1 11;1 : "I' -~ :l'.~_ '" ~ 35 '" .i "I ii I / 1iI/ ._.L @ ------..- @ iii @ / / / @ @ , . I--,;==_.~=-==:=-- ------ - ------ --.- -.----- ~ r-----=-.----------~ ~-;;-- -. -+- -~ - 55 I' I I I.; i i 20 ~ J! "1 @ : 'Eel =-;::-=:. ~._~~::~~;;.;;-::- ._=..::::-'_~,~"='=- 180 ~~:r~ ._.u~_+____ ~I)_ __'50 - i ~'I" --- f-- __u.... -- .n_.. cll 21 "'I. ~J If) -'II d 34G I: Ii 22 )1 ;' II Ii I I: ',I ~l" , i , I ,1 23 I: ;1 i '" i 111 : I . J O':!l - <> I ~i 24 --:T" --~. r;, I~I 1):)1 . ,-=-~I ~'':'-_7 ~. _ _ _ ~ ~_~." _ _ 0 . n -H~ I ~ . : .: lifT., :; iii -:.I-.l: : I I 11 ! n.._ 43 iii @ iii ~ / / _.--- :;::=- ... -.-...- ---- - no' 'PINE=RIfl'e E'" i'':' ~^'I .._-- -.... .--- ----- - --.- sa 71 iii iii ,~ 1575 .." @ @ iii ,~ 44 @ (j) @ iii iii IiJ ,~ ,~ 105 15 ..'n ,~ ''''''^'1I'i'= - I""L.ll...'lp.J..__ -.- 54 59 70 iii @ ~ ~ @ @ iii ,~ ,~ ,~ ,~ HIS IS ISO ,~ 7~ 75 53 60 69 iii a · IiJ @ ~ @ I; / ~V' @ _n_ __..... f...-----.-..--...-. - 74 87 €> iii @ iii ,~ 180 1110 '00 -~=~- 7-' .. / 75 @ e .{ @ / os lS 150 iii --..., ,~ ,~ ,~ 76 '5 . I .. ..~.~.=...=-=--..- on__ ,= , @ GI @ e @ iii ;OLDEN "'TEE, CT UNf '" m~~;~ ;::c6~iifJB~~ =-.."-~~=c _n= 45 52 6' 6' @ GI @ @ @ @ iii iii iii "'--'~fI 46 I I 51 I I ,~ ". 15 15 leo~_r-!~O ,w 52 61 18 Unimproved Land Sales Map -Wilcox Appraisal Services, Inc.- Plepared for and property of Collier County Board of Commissioners Reliance uponlhe appraisal fororher uses is nOI warranted 77 '4 ~ @ GI @ ,~ ,~ ,~ ,~ '3 ,I i N I ~ I I I I I I I r I I I I I I I ,..-, ~ I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 16B8 September 15, 2009 Page 93 of 99 SALES DATA Recording Data Grantor Grantee Sales Date Sales Price Financing Conditions of Sale Sales History Legal Description PROPERTY DATA Property Type Present Use Highest and Best Use Location Roadway Frontage Folio No. STRAP No. Land Use Designation Zoning Size Dimensions (Gross) Easements Utilities UNIT OF COMPARISON Sales Price/Gross Acre VERIFICATION DATA: COMMENTS: UNIMPROVED LAND SALE NO.4 Collier County, Florida, OR Book 4227, Page 2725 Charles Hildebrand and Barbara Hildebrand Santiago Eloy March 30, 2007 $129,000 Cash to seller transaction Typical market No arms length transactions of the sale property in the past three years The West 75 feet of the East 150 feet of Tract 31, Golden Gate Estates, Unit No. 27, according to the plat thereof recorded in Plat Book 7, Pages 17 and 18, Public Records of Collier County, Florida Residential Vacant land Single-family residential development The South side of 15th Avenue S.W. approximately 0.80 miles east of 39th Street S.W. 15th Avenue S.W. 37982640001 33460031 24B14 Estates Estates 1.14 Gross Acres 75' x 660' 30-foot wide road right-of-way easement along the northern property line (for 15th Avenue S.w.) Telephone, Electric, Well, Septic $113,158 Per Gross Acre R. Alan Wilcox, MAl, SRA, verified this sale on September 3, 2007 with Arian Santiago, grantee representative, 239-289-8394. Verification indicated the sale property was vacant land at the time of sale. The site is currently under construction with a single family home. Wilcox Appraisal Services, Inc. 1633 S,E. 41~ Street. Cape Coral. Florida 33904-7470 239.542.2311 . Fax 239.549-8704 . Emall awllcoxmalsra@comcast.net I I I I I I I I I I I I I I I I I I I Agenda Item No. 16B8 September 15, 2009 Unimproved Residential Land Sale 4 '" ~ 01 ~ c.n "'" w '" c.n "'" w 5;. ,:ID @ €'J C€D @ @) €'J @ @ @ €'J (i!) CD 180 180 7S 75 150 180 180 7S 75 75 75 180 330 150 150 10S 75 150 150 180 180 150 150 180 180 150 155 €V @ @ e @) (~) @ @) @ (B e ~> (]) '" "'" w '" ~ -.J "'" c.n '" w a . ._._--~-- 1:----c-- _._.- ---------- ----------..._------- ..-- ---........---- ------- ------ ----------- --.-------..--- 1.::-"'::-:'::-"':: -------- 15th Avenue S.W.' . - . - - .--..-..--- -------- ------ ,---- ----- -..--..---- -----..-.---- 4-_________. fT --- -- -- _._---~ -------_.._~-------_..~ -.----.-.-- , : , , , , , , 1/ , , i '" I <.0 OJ "'" "'" w , '" I w 01 ~ 1/ , I r@ : , ~~.l ~~;, @> @) e (~~ 8 J9 (Iy Q~ (8 @ (~t -}) \~..r , 1/ 'I 1 , , 180 105 75 75 75 150 180 180 75 '15 75 75 180 3ho 1-------. 15S 180 ~ 50 75 75 lBO 105 75 7S 75 75 7S lBO 330 I , , , " ':,~ P I (€.V (:i.D> , (:~:. @) @ '~; @ @ @J .:~ @; , ~) @ m 1 ,./ m '" N V 0 150 "" ~ "" "'" OJ ~ en '" -.J OJ Unimproved Land Sales Map .J i - Wilcox Appraisal Services, Inc.- Prepared for llnd properly ofColJierCounty Board ofCommlssionels Reliance: upon the appraisal for other lIses is not WalTanled N I J I I I I I I I ~ "- I I I I I I I .~ ~ I Prepared for and property of Collier County Board of Commissioners. Reliance upon the appraisal for other uses is not warranted. Agenda Item No. 1688 September 15, 2009 Page 95 of 99 SALES DATA Recording Data Grantor Grantee Sales Date Sales Price Financing Conditions of Sale Sales History Legal Description PROPERTY DATA Property Type Present Use Highest and Best Use Location Roadway Frontage Folio No. STRAP No. Land Use Designation Zoning . Size Dimensions (Gross) Easements Utilities UNIT OF COMPARISON Sales Price/Gross Acre VERIFICATION DATA: COMMENTS: UNIMPROVED LAND SALE NO~ 5 Collier County, Florida, OR Book 4214, Page 2790 Anna Roque Robert M. Cohen April 12, 2007 $410,000 Cash to seller transaction Typical market No arms length transactions of the sale property in the past three years Lot 1, Mahogany Estates, according to the Plat thereof, of record in Plat Book 37, Page 22, of the Public Records of Collier County, Florida Residential Vacant land Single-family residential development The North side of Mahogany Ridge Drive approximately 0.10 miles east of Logan Boulevard Mahogany Ridge Drive 56340000028 474350 14B09 Estates Estates 2.59 Gross Acres 329.88' x 342.00' a 30-foot private access and public utility easement along the eastern property line and a 3D-foot wide road right-of-way easement along the southern property line (for Mahogany Ridge Drive) Telephone, Electric, Well, Septic $158,301 Per Gross Acre R. Alan Wilcox, MAl, SRA, verified this sale on September 4, 2007 with Robert M. Cohen, grantee, 239-348-3387. Verification indicated the sale property was vacant land at the time of sale. This vacant residential site was purchased by the owner of the adjacent property that is improved with an existing single- family home. Wilcox Appraisal SeNices, Inc. 1633 S.E. 41.t Street. Cape Coral . Florida 33904~7470 239.542-2311 . Fax 239-549-8704 . Emall awilcoxmalsra@comcaSlnet I I I I I I I I I I I I I I I I I I I , j',. '" . .Ti:' . . . ~ " . " ;-"<... .., //'(";u" .--.// lfW::fO '9'" / ~ ~" ='- g; 1J~. "-- 1~ * ~ ,~ Jlt TlIN;r~ . , 0) , - , " ..", ~ ~~".~~ : l' ~ """,.,"-2..- I I U-- lR-;;r 1 .b ~ 0) 'H ., ." 5 -----.-f .... .I .. -. ~ ~"i t .' I ( .. I ~, , Unimproved Residential Land Sale 5 10 I~/ i7 , i , I I , I~ 1;q I I I , o @l // ! i ) ] I I . r I~, .~, I., 00, I~i ,/ /.080 / 36 / Ill) 479.82 48469 0, ~l ",,: . I : !Ll'll : 10 I~l ", j 'te-Y In __L_-r-:+ ISO 50 I:~ I I ~ l i \~ Ii! I i I", I I!~ I' i i~ I ' i "I! 17 ~ I, II i! ! I: ! , I .~) CD . @> 680.38 _ _ _______660.38 47518 -..-- \-~ ---~~-- 30 DRA1NAGE EASEMENT o -.n---i75~1-i-- - 16 @ 15 @ '" 680 ~ ~ @ io .... @ e ~ o (9 @ Agenda Item No. 1688 September 15, 2009 ~ .."'.// -. ., ~ .' '" ;: '" ~ @ 150.19 1- , i I i 1 I ! 150J9 , 160. . )i I jj. .1:: ! I '" "I I '1)' ~ J . I .~!; ~ I ~ I fi.Q ,:g;! ~ ! .., !~! .1~' I; ! : ! : I ! I ,'J (!D t t, J ...,.. ;' 'F' J1w I'.. rOll I , .. ~ D i ~ ."c%'lo i ~ I~ (, i ~j. I ~B> .I ,;'; i", .~,. // ".:1:: <p Y @ ~ 1_ 14 ~, I~ .; I i I ! I I I I j J> 180 33Q.Q6. __~_i1:::"_ ':it @l .. , " 330,19 ~ .J,,, , w '" <D RJ '" PB2D~" '" " ~ ,.; oj 0 0) .., ~ 36 m ~ ~.J ~I OJ[ ::J 493.03 J 0 18 ! 13 l ~ :t; f CO :,'0 , II 0: i <'i) I -J: ! I I: I : I! ..~;:..~~~~=~~~_=~=_-=_~-=_~. - i__ :~!{~0:~gil~~:~i~9~~Q~~~:=:::::- : i 501,39 'I I l 19 !,;;j 12 I I .. )1 i~ @ I ~ i e "V ~ ! : I I 1 509,71 i I i 1 11 j : '[[;:0 <;l'i ! I J ' I' . j I i ,:1 I: '," i 51806 ' 32986 w gj I:lAAHOGANY EST~ PS 37Cro 22 "' o ~ /329.6a o 300 30 w .... W to IU.Nl.JR'$tAl"'UNIT~ '" ~ PII,OPC:!3 r- ~ ~ 0) 300 38 I I I l I w w , ~~-:-: '~~!) _______ ____..h__ ........_____ _______ __ 340 340 20 @) rB , i i '" ~ 180 150 I 75 225 Unimproved Land Sales Map - Wilcox Appraisal Services, Inc.- Prepared for and property of Collier County Board of Commissioners Reliance upon the appraisal for other uses is not walTamed 39 (B,i rE> .~~ 150 180 / i N Agenda Item No. 1688 September 15, 2009 Page 97 of 99 Memorandum To: TE/CM Right-ot-Way Acquisition Manager and Agents From: Harry Henderson, SRA, Review Appraiser TE/CM, Right ot Way August 4, 2009 Date: Subject: land Value Update/Urban Boundary GGE area (Supplemental to existing appraisals) This purpose ot this Valuation Memorandum is to provide a current value unit /price estimate for Golden Gate Estates land located within the Urban Boundary in the vicinity of the Collier Boulevard and Santa Barbara Boulevard corridors. This market derived unit/price will be used to update the land value portion of the County's existing appraisals having old/stale Effective Dates. The Effective Date for the current Valuation Memorandum is August 4, 2009. Note that this memorandum shall be used in conjunction with and will be supplemental to the TE/CM appraisals previously approved and on-file pertinent to Collier Boulevard parcels on Project #68056 and Santa Barbara Boulevard #62081. It should not be relied upon as a stand-alone document for condemnation purposes. This land value unit/price update applies to E-Estates zoned land having a single-family HBU only. In my capacity as Review Appraiser within Collier County TE/CM and as a State Certified/designated Real Estate Appraiser, I have searched for and analyzed closed land sales data applicable to the GGE land as described above. Only the most current sales were considered (closing within the past 6 months) in order to accurately reflect current market conditions. Sunshine MLS and Collier County Public Records were utilized in this data search. These sales are summarized as follows: 1340 Logan Blvd, Naples, FL 34116 folio#38391800004 Sale Price: $79,800 Sale Date: 6/09 Lot Size: 2.34 acres Reflects: $34,102/acre relatively busy street location 4180 3'd Avenue NW, Naples, FL 34113 folio#36665780001 Sale Price: $73,000 Sale Date: 4/09 Lot Size: 2.50 acres Reflects: $29,200/acre side street west of CR951 '. Collier County Transportation/ROW Department 5721 Dogwood Way, Naples, FL 34116 folio#38340760001 Sale Price: $51,500 Sale Date: 6/09 Lot Size: 1.14 acres Reflects: $4S,17S/acre west of Logan/south of Pine Ridge Rd 3481 ih Avenue SW, Naples, FL 34117 folio#36765120008 Sale Price: $74,000 Sale Date: 7/09 Lot Size: 2.73 acres Reflects: $27,1 06/acre east off of Weber Blvd Agenda Item No. 1688 September 15, 2009 Page 98 of 99 3641 ih Avenue SW, Naples, FL 34117 folio#36763200001 Sale Price: $80,000 Sale Date: 2/09 Lot Size: 2.58 acres Reflects: $31,007/acre east off of Weber Blvd 5831 Sea Grass Lane, Naples, FL 34116 folio#38227240000 Sale Price: $73,720 Sale Date: 3/09 Lot Size: 1.14 acres Reflects: $64,667/acre side street off of Santa Barbara Blvd S/S Weber Blvd, Naples, FL 34120 folio#36711000004 Sale Price: $116,000 Sale Date: 7/09 Lot Size: 2.50 acres Reflects: $46,400/acre between 5th Ave NW and ih Ave NW The above cited sales are all GGE tracts (E zoning) located within the Urban Boundary in the vicinity of the Collier Blvd and Santa Barbara Blvd corridors. They represent the entirety of all the market-transaction land sales which have occurred over the past 6 months in the market area studied. They show a unit price range of $27, 106/acre to $64,667/acre with an average unit price of $39,665/acre. Given differences in street locale (all subject parcels are parts of parent tracts fronting relatively busy streets), lot size considerations, closing dates and known topographical features a pricing factor of $40,OOO/acre is selected as the most probable unit price for current market value appraisal purposes relating to the Collier Boulevard and Santa Barbara Boulevard lands being sought. Because the lands being sought for these projects are or may be the subject of a condemnation action now or in the future, the concept of highest possible price may be more applicable. In this case a unit/price of $60,OOO/acre is selected as highest possible unit/price (which reflects the price resistance of non-willing sellers). The $60,OOO/acre unit price will be applied for all land portions of the Collier Boulevard and Santa Barbara Boulevard appraisals being updated for current full compensation calculations. (see attached Valuation Sheets) Collier County Transportation/ROW Department Agenda Item No. 1668 September 15, 2009 Page 99 of 99 Valuation Update Sheet Parcel 129 (Collier Blvd Project 68056) Land Valued at pricing factor of $60,OOO/acre (market derived highest possible market value) ,248 acres x $60,OOO/acre = $14,900 Improvements: $2,300 Cost to Cure: $0 Total Compensation: $17,200 Harry Henderson, SRA RD347S, RG1153 Il(l~ ,