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Agenda 10/14/2008 Item #16B 8Agenda Item No. 10B8 October 14, 2008 Page 1 of 22 EXECUTIVE SUMMARY Recommendation to approve an Agreement and accept a Drainage Access and Maintenance Easement required for the Bayshore Drive & Thomasson Drive Stormwater Improvement Project. Project #511341. (Estimated fiscal impact 554,030.00.) OBJECTIVE: Approve an Agreement for the acquisition of a Drainage Access and cp Maintenance Easement for the Bayshore Drive & Thomasson Drive Stormwater Improvement Project, Project Number #511341. CONSIDERATION: The Stormwater Management Department has been actively involved in the design, permitting, and construction of the Lake Kelly Drainage Stormwater Improvement Project System for a number of years. When fully implemented, this project will reduce flooding potential in portions of East Naples and promote better water quality discharges into the estuaries near Rookery Bay. The conveyance of this 0.379 acre easement in the East Naples area to Collier County within the Bayshore Drive & Thomasson Drive Stormwater Improvement Project segment will provide the legal right to access and maintain the conveyance way and adds to the overall Lake Kelly Drainage Project outfall system in compliance with the Growth Management Plan. The sale price of $50,000.00 was the County's written offer and the appraisal dated October 31, 2007 prepared by the Transportation's Review Appraiser, Harry Henderson, SRA, valued the property at $51,500.00. The property owners hired Raymond E. Carroll, MAI, SRA of Carroll and Carroll, Inc. to review Mr. Henderson's appraisal and the results were essentially the same. The attorney's fee in the amount of $3,150.00 and the appraiser's fee of $750.00 are considered reasonable. LEGAL CONSIDERATIONS: The Agreement has been signed for form and legal sufficiency. This item is legally sufficient for Board action. - JAB FISCAL IMPACT: Funds in the amount of $54,030.00 are available in the Bayshore Drive & Thomasson Drive Stormwater Improvement Project Number #511341. (Total amount includes the $50,000.00 purchase price and $3,900.00 for the approximate cost of service fees described above, and $130.00 in closing fees and recording fees.) Source of funds are ad valorem taxes. GROWTH MANAGEMENT IMPACT: This acquisition is consistent with the County's Growth Management Plan. RECOMMENDATION: That the Board of County Commissioners of Collier County: 1. Approve the attached Agreement, and authorize the Chairman to execute same on behalf of the Board; and Agenda Item No. 16-;8 October 14, 2008 Page 2 of 22 2. Accept the conveyance of the property via a Drainage Access and Maintenance Easement as stated in the Agreement and authorize the County Manager or his designee to record same in the public records of Collier County, Florida; and 3. Authorize the County Manager or his designee to take the necessary measures to ensure the County's performance in accordance with the terms and conditions of the Agreement; 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, Transportation Engineering & Construction Management Attachments: (1) Agreement; (2) Drainage Access and Maintenance Easement; (3) Location Map; (4) Appraisal; (5) Review Report Page I of 2 Agenda item No. 16B3 October 14. 2003 Page 31 of 22 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS Item Number: 16B8 Item Summary: Recommendation to approve an Agreement and accept a Drainage Access and Maintenance Easement required for the Bayshore Drive & Thomasson Drive Stormwater Improvement Project. Project #511341 - Estimated fiscal impact $54,030.00. Meeting Date: 10114/2008 9:00'00 AM Prepared By Margaret KreynUS Property Acquisition Specialist Date Transportation Services TECM-ROW 911912008 11:05:59 AM Approved By Kevin Hendricks Right Of Way Acquisition Manager Date Transportation Services TECM-ROW 9/1912008 11:48 AM Approved By Najeh Ahmad Director Date Transportation Engineering & Transportation Services Construction Management 911 91200S 4:10 PM Approved By Gerald Kurtz Senior Engineer Date Transportation Services Stormwater N",anagement 912212008 9:10 AM Approved By Caroline Soto Administrative Assistant Date Transportation Engineering and Transportation Services Construction 9=120108 3:1.9 PM Approved By John V;iet Roacis, MWri—enance Superintendant Date Transportation Cervices Road Maintenance 9;2-,,1200S 6:00 AM Approved By Lisa Taylor rir;anaQemenVBudget Analyst Date Transportation Services Transportation Administration 9,3 12008 1 :2 2 PM Approved By Norm E. Feder, AICP Transportation Division Administrator Date Transportation Services Transportation Services Admin. 9i2312003 1:35 PM Approved By Jeff Klatakow Assistant County Attorney Late County Attorney County Attorney Office 9124!2008 9:46 AM fi1e:HC:\A2endaTest\Exnort\1 14-October%2014.%202008\16.%2000NSF,,N,r,v(,7OACTFND - 10/90009 Page 7of7 Agenda Item No. 18B8 October 14.2008 Page 4 of �2 Approved By .- Pat Le»^hand Executive Secretary Date Transportation Services Transportation Services Adnnin 912412008 10:28 AM Approved By OMBopormnatnr OMB Coordinator Date County Manager's Office Office n/ Management uBudget 912412003 10:34 AM Approved By Susan Usher Seniv,NbnaoemenUBudget Analyst Date County Manager's Office Office cx Management & Budget y/zs/0000 9:01 AM Approved By James v.Mudd County Manager Date Board mCounty County Manager's Office 9/2612008 9:44 AM Commissioners file://C:\toe`daTtst\Exnud\ll4-[)ctohcr%2O14.%202O08\l6/%70C()�|SRNT%70AGRNF> l0/8/7008 Agenda Item No. 15138 October 14. 2008 Page 5 of 22 PROJECT: 511341 FOLIO NO.: 61840600104 EASEMENT AGREEMENT THIS EASEMENT AGREEMENT (hereinafter referred to as the "Agreement ") is made and entered into on this day of , 2008, by and between ABACO BAY CONDOMINIUM ASSOCIATION, INC., a Florida non profit corporation, whose mailing address is 745 12th Avenue South, Suite AA, Naples, Florida 34102, (hereinafter 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 Drainage Access and Maintenance Easement over, under, upon and across the lands described in Exhibit "A," which is attached hereto and made a part of this Agreement (hereinafter referred to as the "Easement "); and WHEREAS, within said Easement Purchaser desires to place and/or excavate materials for the purpose of constructing, operating, and maintaining drainage facilities, including but not limited to canals, ditches, swales and earthen berms, rip-rap and retaining wall systems, underground pipes, and various types of water control structures within the easement area, and to construct and maintain a stabilized roadbed facility capable of providing access for vehicles and equipment for perpetual maintenance of drainage facilities thereon and adjacent thereto; 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: All of the above RECITALS are true and correct and 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 Property to Purchaser for the sum of: $50,000.00 subject to the apportionment and distribution of proceeds pursuant to Paragraph 8 of this Agreement (said transaction hereinafter referred to as the "Closing "). Purchaser shall also pay Owner's attorney's fees and costs in the amount of $3,150.00 payable to the Swalm, Bourgeau & Davies, P.A. Trust Account and for real estate appraisal services in the amount of $750.00 payable to Carroll and Carroll, Inc. The total payment of $53,900.00 shall be full compensation for the Property 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 Property, and to remove all sprinkler valves and related electrical wiring, and all other -� damages in connection with conveyance of said Property to Purchaser, inciuding all attorneys' fees, expert witness fees and costs as provided for in Chapter 73, Florida Statutes. Agenda Item No, 16E38 Pageaclober'4, 2008 Page b of 22 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. 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 "Gap" Affidavit; (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 of this Agreement and that, 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. Owner agrees to relocate any existing irrigation system located on the Property 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 Property, 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 construction of the project commences 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. Agenda Item No. 1635 PageOctober 14, 2006 Page 7 of 22 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 perform 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 performed 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 as 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 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, to the Owner's best knowledge and belief 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. Aaen�a i Lem iVo, 'I nB8 Page4ctz)ber 14, 2003 Fage 8 of 22 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 Closing 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 for the execution of any release, subordination or satisfaction, shall be the responsibility of the Owner, and shall 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, concerning 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. If the Owner holds the property underlying the 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 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 invalidity. 14. This Agreement is governed and construed in accordance with the laws of the State of Florida. �I Agenda Item No. 1668 Page tictober 14, 2008 Page 9 of 22 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 Deputy Clerk AS TO OWNER DATED: Witness (Signature) Name (Print) Witness (Signature) Name (Print) Approved as to form and legal -sufficiency: xEllen T. Chadwell Assistant County Attorney BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA BY: TOM HENNING, Chairman ABACO BAY CONDOMINIUM ASSOCIATION, INC., a Florida non profit corporation,/' By. ( Signature) Name:o� —Tr GTE (Print) Title: Y t (Print Title) D'I gp ! -,f --� z ETCH 4,4D L-F'L4L D-FSMPTJON D.RA-TKAGE- -EASZAE'1�7 2110 3 A 22 .. :. Agenda Item No. 10138 October 14, 2008 Page 11 of i 22 PROJECT: 511341 FOLIO NO.: 61840600104 DRAINAGE, ACCESS AND MAINTENANCE EASEMENT THIS EASEMENT, made and entered into this day of , 2008, by ABACO BAY CONDOMINIUM ASSOCIATION, INC., a Florida non profit corporation, whose mailing address is 745 12m Avenue South, Suite AA, Naples, Florida 34102, (hereinafter referred to as "Grantor"), to 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 "Grantee "). (Wherever used herein the terms "Grantor" and "Grantee" include all the parties to this instrument and their respective heirs, legal representatives, successors and assigns. Grantor and Grantee are used for singular or plural, as the context requires.) W ITN ESSETH: Grantor, for and in consideration of TEN DOLLARS ($10.00) and other valuable consideration paid by the Grantee, the receipt and sufficiency of which is hereby acknowledged, hereby conveys, grants, bargains and sells unto the Grantee a perpetual, non - exclusive access, drainage, and maintenance easement over, under, upon and across the following described lands located in Collier County, Florida, to wit: See attached Exhibit "A" which is incorporated herein by reference. Subject to easements, restrictions, and reservations of record. THIS IS NOT HOMESTEAD PROPERTY TO HAVE AND TO HOLD the same unto the Grantee together with the right to enter upon said land and to place and /or excavate materials for the purpose of constructing, operating, and maintaining drainage structures and facilities, including but not limited to canals, ditches, swales, earthen berms, rip -rap and retaining wall systems, underground pipes, and various types of water control structures within the easement area. This easement includes the right to remove and use any and all excavated material and to construct and maintain a stabilized roadbed facility capable of providing access for vehicles and equipment for perpetual maintenance of drainage facilities thereon and adjacent thereto. The easement granted herein shall constitute easements running with the land and shall burden the lands described above. IN WITNESS WHEREOF, the Grantor has caused these presents to be executed the day and year first above written. Witness (Signature) Name (Print) i Witness (Signature) Name (Print) ABACO BAY CONDOMINIUM ASSOCIATION, INC., a Florida non profit corporation By: (Signature) Name:� Mc�; 5,Tyn7seTL. `(Print) Title: (Print Title) ,agenda item No. 18 October 14, 2108 Page 12 ' 22 STATE OF go910,q COUNTY OF CAIhE2 The foregoing Drainage, Access and Maintenance Ea ment was acknowledged before me thig day of %) ucus { 2008, by C6 the on behalf of Abaco Bay Condominium Association, INC., a Florida non profit corporation, who: is personally known to me OR produced as proof of identity. (affix notarial seal). (Signature of Notary Public)' RHOA/D -4 (Print Name of Notary Public) Serial / Commission # (if any): My Commission Expires: . 4 1.�si�ta�: �wmt>• Atrine� :lien T. 04a Eft 1 i Agenda ge, 'tem " 'O."B' October 4, 2003 Page 13 of 22 5010, T 7 T- OES,' r 7 A f, Atf 14, cfJ 7 7 EXH[B[T page LN 104 V.,') 7"',7 �"S LAME "-ARVS j2 T 7 T- OES,' r 7 A f, Atf 14, cfJ 7 7 EXH[B[T page u000 N Cl O N � O - N � L - nnm J �O 'v7 Q D Z O 0 z O U 0 O U m F z W 2 LL1 a w w U z z w F- z a 0 z U) w U U U O Q z a 0 LAND APPRAISAL REPORT File No UElittleFa ms . Paofl #2 , (�� rvo. i 8Pu8 File No. DE Littfe�ser 14, 2008 c 5of22 Borrower Client Collier County /Abaco Bay Condominium Census Tract Map Reference S14- 7`50 -R26 y Property Address Partial Acquisition/Drainage Easement, East 50 ft of the Abaco Bay common area lands City Naples County Collier State FL Zip Code 34112 Legal Description See Attached legal description Sale Price S NIA Date of Sale N/A Loan Term NIA yrs. Property Rights Appraised Fee ❑Leasehold ❑ De Minimis PUD Actual Real Estate Taxes $ N/A (yr) Loan charges to be paid by seller $ NIA Other sales concessions NIA Lender /Client Collier County Government Address 2885 South Horseshoe Drive, Naples FL 34104 Occupant vacant common lands Appraiser Harry Henderson SRA Instructions to Appraiser Estimate Market Value Folio #61840600104 (parent tract, appraisal is a portion of Location ❑Urban Y Suburban j Rural Built Up 0 Over 75% ❑ 25% to 75% ❑ Under 25% Growth Rate ❑ Fully Dev. ❑� Rapid ❑ Steady ] Slow Property Values ❑Increasing ❑] Stable ❑] Declining Demand /Supply ❑ Shortage ,❑ In Balance ❑ Oversupply Marketing Time ❑ Under 3 Mos, ❑ 4 -6 Mos. Z Over 6 Mos. Present Land Use 25% 1 Family 10% 2 -4 family 15% Acts. 25 % Condo 10% Commercial _% Industrial 15% Vacant % _ Change in Present Land Use Not Likely ❑ Likely ( *) ❑ Taking Place ( *) ( *) From vacant To mixed -use Predominant Occupancy '❑ Owner ❑ Tenant % Vacant Single Family Price Range $ 225,000 to $ 500,000 Predominant Value $ 340,000 Single Family Age New yrs, to 30 yrs. Predominant Age 10 yrs. Good Avg. Fair Poor Employment Stability ❑ 0 ❑ ❑ Convenience to Employment ❑ Z ❑ ❑ Convenience to Shopping ❑ Z ❑ Convenience to Schools ❑ ❑ ❑ ❑ Adequacy of Public Transportation ❑ ❑ ❑ ❑ Recreational Facilities �] ❑ ❑ ❑ Adequacy of Utilities ❑ E ❑ ❑ Property Compatibility ❑ X ❑ ❑ Protection from Detrimental Conditions ❑ ❑ ❑ ❑ Police and Fire Protection ❑ ❑ ❑ ❑ General Appearance of Properties ❑ ❑ ❑ ❑ Appeal to Market ❑ Z ❑ view, noise) See attached addenda. Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, schools, Dimensions 50 x 330 (size of proposed easement) _ .38 Sq. Ft. or Acres Corner Lot Zoning classification RPUD (Pinebrook Lakes) Present Improvements ❑ do ❑ do not conform to zoning regulations Highest and best use L❑ Present use Other isgec fy) 'residential develo ment as allowed by the PUD Public Other (Describe) OFF SITE IMPROVEMENTS Topo Level Elec. ❑ Street Access ❑ Public ❑ Private Size Compatible with area Gas ❑ Surface Paved Shape Rectangular Water ❑ Mai Menance ❑ Public ❑ Private (View Neighborhood San. Sewer ❑ ❑ Stonn Sewer ❑ Curb!Gulter !Drainage A Dears to be adequate ❑ Underground Elect. & Tel., rZ Sidewalk ^] Street Lltghts__I, Is the property located in a HUD Identified Special Flood Hazard Area? ❑ No I Yes Comments (favorable or unfavorable including any apparent adverse easements, encroachments, or other adverse conditions): Zone A, Comm #120067 C0581 G, dtd 11/17105 No adverse conditions observed. The drainage Easement parcel is valued as representing an 80% encumbrance to the underlying fee simple value of the parent tract. The parent tract is considered to be the entire 9.91 acre Abaco Bay lands. The size of the proposed Drainage Easement is .38 acres. The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment re'lec ing market reaction to those Items of significant variation between the subject and comparable properties. If a significant Item in the comparable property is superior to or more favorable than the subject property, a minus I-) adjustment is made thus reducing me Indicated value of subject, if a significant Item In the comparable is inferior to or less favorable than the subject property, a plus ( +) adjustment is made thus increasing the indicated value of the subject. ITEM SUBJECT PROPERTY COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 Address Abaco Bay, EIS of Bayshore Naoles, FL 34112 S/S Thomasson Dr Naples, FL 34112 NIS Whitaker Road Naples, FL 34112 SIS of Davis Naples, FL 34112 ProximiT to Subject 0.63 miles SE 4.27 miles E 4.71 miles NE Sales Price $ N/A $ 115,903fac $ 115.183/a $ 212 224/ac Price Gross $ IS 3,593.800 S 2,200.000 S 6,250,000 Data Source OR 4263 PG 2080 OR 4044 PG 137211393 OR 4065 PG 1089 - Date of Sale and DESCRIPTION DESCRIPTION + - $ Ad ust. DESCRIPTION + - S Adjust DESCRIPTION +(-)$ Adjust. Time Adjustment N/A 7/07 _ Nominal 6/07 Nominal 6106 Nominal Location Ba shore Ba shore E.of Count Barn +46.073 Davis Area E uiv. •_ Site/View 9.91 acres 31 acres in $ /sf 19.10 acres in $ /sf 29.45 acres in S /sf To ocra h Level /natural Similar Similar Similar Zonis RPUD A, like) res.rezone +46,361 RMF -6 E uiv. RMF -12 - 31,834 Sales or Financing Concessions N/A Cash or Equiv. Cash or Equiv. Cash or Equiv. Net Ad' (Total) x1 + _ $ 46,3611 ❑I + ❑ - $ 46.073 + - $ - 31,834 Indicated Value of Subject Net 40.0 °% 1 $ 162,264 Net 40.0 % $ 161,256 Net 15.11 % $ 180,390 Comments on Market Data: See attached addenda. Comments and Conditions of Appraisal: Subject and comps are compared on a $/acre unit price basis See attached Limiting Conditions. No applicable prior sale data for subject and comps. Final Reconciliation: .38 acre easement area at $136,000 /acre (representing 80% encumbrance = $51,500 rounded • 1 ESTIMATE THE MARKET VALUE, AS DEFINED, OF SUBJECT PROPERTY AS OF October 31, 2007 to be $ 51,500 Harry Henderson SRA ❑ Did X Did Not Physically Inspect Property Appraiser(s) Review Appraiser (if applicable) (Y2Kf Collier County Government Form 1-ND — "WinTOTAL" appraisal software by a la mode, Inc. —1- 800 - ALAMODE Sunniamental Odrlenrlum File No QE ii l Fa, s Paa I #a R i i 1 Q. I3BQ � wu. JE Little Farms October 14, ?0,0 g Borrower,vient Client: Collier County/Abaco Bav Condominium 16 of 22 Properly Address Partial Ac uisition /Draina a Easement. East 50 ft of the Abaco Bay common area lands Dly Naples Zoun Collier State FL Zi Cotle 34112 tender Collier County Government • Lana : marKet uata All comps cited involve development tracts available for eventual multi -unit residential development similar to the subject's parent tract development profile. Zoning adjustments reflect differences with respect to in -place entitlements (PUD vs Ag, 40 %) and differences in densities (15%). Appropriate iocational adjustments are also applied. An overall unit /price of $170,000 /acre is judged to be reasonable for the subject parent tract. The subject and comps are compared on a unit/price ($ /acre) basis. This method eliminates the need for direct size adjustments. The indicated unit prices range from $161,256 /acre to $180.390 1acre; a mid range figure of $170,000 /acre has been selected for the subject parent tract. Thus- 9.91 acres x $170,000 /acre = $1,685,000 (rounded) Drainage Easement Valuation The subject 50 x 330 ft (.38 acres) Drainage Easement will allow the County to construct an open drainage trench within the easement area. This type of use /disturbance to the land is estimated to reflect an 80% encumbrance to the underlying fee interest. The unit /price valuation of the easement area would therefore be: 80% x $170,000 /acre = $136,000 /acre. The value of the Easement interest is therefore calculated to be- .38 acres x $136,000 /acre = $51,500 (rounded) • Land : Neighborhood Market Factors Subject parcel is a proposed drainage easement located along the East 50ft of the Abaco Bay Condo development (Lot 104, Naples Little Famns #2). The parent tract is preserve /common area land which is part of the Abaco Bay complex. Abaco Bay is located in the Bayshore section of greater Naples on Bayshore Drive just north of Thomasson Drive). This is a close -in section of south Naples which is currently undergoing gentrification and new resort-type development. Maintenance levels in the area are average. Form ?ADD — "WinTO T AL" appraisal software by a is mode, inc. —1- 800- ALAMODE Subject Photo Page File No u11 r P7�gEl#! 0 16B8 October 14, 2008 1 of 22 Borrower /Client Client: Collier County/Abaco Bay Condominium Property Address Partial Acquisition/Drainage Easement, East 50 ft of the Abaco Bay common area lands City Naples County Collier State FL Zi Code 34112 Lender Collier County Government Subject Aerial Abaco Bay, EIS of Bayshore Sales Price N/A Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location Bayshore View 9.91 acres Site Quality Age Form PICPIX.SR — "WinTOTAL" appraisal software by a la mode, inc. —1- 800 - ALAMODE Legal Sketch Location Man File No. CE i t r s p r�y�r ua ilOrll No. 163, Oc,ober 14, 20CR BorrowerrClient Client Collier County/Abaco Bay Condominium ❑gl 18 of 22 Prone Address Pa tial Acquisition/Drainage Easement. East 50 ft of the Abaco Bay common area lands cily Naples Govty Collier State FL Zip Code 34112 Lender Collier County Government —s5u- - L t E r _ ................ ...._.._._.......: Map Point' i K Bonfta�i; m --- Springs a m 287 Film' - River .. __ - _ - ' t Detn v��,r-r ai_, E-tatPs - Rath .late Farr, �tlaPlee ,; ZOT Fa k { — I t � P_lir_an Bav t Cmrmtnr; ; Pat t 89_ 22 L G -olden Gate Blvd .E i -r1 a51 'M - _ L L L F .i .. a:. � �. . d t diet, r � r °East Naples 4't Naples° sa _ 41 les t ar M 4- CotfierSerrtinule State Park PAarco rta� 5each '�' _- tr.tr, -,c'j Park 451._._.__.. P2 tSt:.11� aoos,o�o. Form MAP.LOC — MinTOTAL" appraisal software by a la mode, inc, — 1- BDD- ALAMODE File No RElittleFarms Pane# O. 1688 !-1 October 14, 2008 Page 19 of 22 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically mativated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. 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. * Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following conditions. 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of If being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lenderlclierd specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identify and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender /client may distribute the property description section of the report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. Freddie lilac Form 439 6 -93 Page 1 of 2 Fannie Mae Form 1004B 6-93 Collier County Government Form ACR — "WInTOTAL appraisal software by a la mode, inc. — 1- 800 - ALAMODE File No rVE tt , Pr�ir#r fi 10 'I "E8 October 1 �+, 2008 Page 20 of 22 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that 1. 1 have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. 1 have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and correct. 3. 1 stated in the appraisal report only my own personal unbiased. and professional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions specified in this form. 4. 1 have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. 1 have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensatjdn for performing this appraisal is contingent on the appraised value of the property. 6. 1 was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and /or employment for performing the appraisal. I did not base the appraisal report an a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan. 7. 1 performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing lime noted in the neighborhood section of dris report, unless I have otherwise statec in the reconciliation section. 8. 1 have personally Inspected the interior and exterior areas of the subject property anc the exterior of all properties listed as comparables jn the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the Immediate vicinity of the subject property of which I am aware anc have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. 1 personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks performed by them in the reconciliation section of this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item ir, the report: therefore, If an unauthorized change is made to the appraisal report, I will take no responsibility for h. SUPERVISORY APPRAISER'S CERTIFICATION: It a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: Partial Acquisition /Drainage Easement East 50 ft of the Abaco Bay common area APPRAISER: SUPERVISORY APPRAISER (only if required): Signature: Signature: Name: Harry Henderson. SRA Name: Date Signed: 10131/07 Date Signed. State Certification #: RD3475 State Certification #: or State License #: or State License #: State. FL State: Expiration Date of Certifjcaiion or License: 11i30/08 Expiration Date of Certification or License: ❑ Did Did Not Inspect Property Freddie Mac Form 439 6 -93 Page 2 of 2 Fannie Mae Form 1004B 6 -93 Form ACR — "WInTOTAL" appraisal software by a la made, inc. — 1- 800- ALAMODE Agenda !tern Kio. 16B8 Oct.oh &r 14, 2008 Page 21 of 22 CARROLL & CARROLL, INC. REAL ESTATE APPRAISERS & CONSULTANTS 2500 Airport Road South, Suite 206 Naples, FL 34112 239 - 775 -1147 P 239 - 775 -2154 F www. carrollandcarrol Isom 28 February 2008 Graham Norcombe Moore Property Management, LLC 745 12th Avenue South, Ste AA Naples, FL 34102 RE: Abaco Bay Condominium Evaluation of Offer for 50' Drainage Easement Dear Graham: I reviewed the documentation you provided including the memorandum with graphic exhibits dated 28 February 2007 from Q. Grady Minor &' Associates, P.A., and the Land Appraisal Report dated 31 October 2007 which was prepared by Mr. Harry Henderson, SRA, the Collier County in -house appraiser. In addition, I studied aerial photographs and reviewed comparable land sales data from our files. Several things strife me about the requested easement: • It is a relatively small area of .38 acres that does not interfere with existing improvements, and it is unlikely to be the site of future improvements. • It is proposed to be located at the rear of the condominium site behind screening vegetation in what appears to be a water retention area. • A drainage ditch already exists in a portion of the proposed easement area. • Since easement rights are being sought, the gross area of the condominium site will not change and thus there will be no reduction in the potential residential unit density of the site which is calculated on the basis of gross area. • Completion of the proposed drainage facility is not likely to interfere with drainage from the condominium site. • The wider, deeper ditch to be constructed is likely to act as a barrier, slightly improving security along the condominium site rear boundary. • w 27 February 2008 Graham Norcombe agenca ;t , '�io. , - �S G" ch r 14. 2, Page I find no reason to conclude that the proposed easement will damage the condominium site. With respect to the property rights impact of the proposed easement, the 80% encumbrance opined by Mr. Henderson strikes one as reasonable, if not generous. Given the facts bulleted above, it is difficult to see that many of the rights of ownership vested in the proposed easement area will be lost. The acquisition price offered by Collier County is based on reasonable market data and the mathematics is correct. I analyzed two additional comparable sales and two listings. The results of my analysis were essentially the same as those of Mr. Henderson. In summary, I see good reason to accept the Collier County offer. I am at your disposal this evening at 239.370.2654 should you have additional questions. Sincerely, CARROLL & CARROLL, INC. Raymond E. Carroll, MAI, SRA State - Certified General Appraiser 165