Agenda 09/13/2022 Item #16C 8 (Conservation Collier Sale Agreement Charles Edwin Bailey)09/13/2022
EXECUTIVE SUMMARY
Recommendation to approve an agreement for sale and purchase with Charles Edwin Bailey, Jr.,
for approximately 1.14 acres under the Conservation Collier Land Acquisition Program, at a cost
not to exceed $25,600.
OBJECTIVE: To purchase 1.14 acres from Charles Edwin Bailey, Jr. near the Dr. Robert H. Gore III
Preserve (Seller).
CONSIDERATIONS: On January 25, 2022, Agenda Item #11A, the Board of County Commissioners
(Board) approved a Conservation Collier Land Acquisition Advisory Commi ttee (CCLAAC)
recommended Cycle 10 Active Acquisition List (AAL), with changes, and directed staff to actively
pursue acquisition of the properties under the Conservation Collier Program.
The Seller’s property contains approximately 1.14 acres located near the Dr. Robert H. Gore III Preserve
is located off Desoto Blvd. The property is within Golden Gate Estates, Unit 92.
The approved Conservation Collier Purchasing Policy (Resolution 2007-300) requires if the estimated
value of the property is less than $500,000, one appraisal report will be obtained, and the Offer Amount
will be equal to the appraised value. In accordance with the Purchasing Policy, the purchase price of
$25,000 was based upon one (1) independent, state-certified general real estate appraisal firm. The total
cost to obtain appraisals for nine (9) parcels in this area was $4,600.
The CCLAAC approved this transaction on July 6, 2022 and voted to recommend Board approval and
execution of the attached Agreement.
Pursuant to Ordinance 2007-65, Section 13(8), a Project Design Report for the property is provided
herewith.
FISCAL IMPACT: The total cost of acquisition will not exceed $25,600 ($25,000 for the property, and
approximately $600 for the title commitments, title policy, and recording of documents). As of September
13, 2022, property costs for Conservation Collier properties, including this property and those under
contract, total $111,881,447. Estimated costs of maintenance in perpetuity for this and all Cycle 10 A-list
properties have been considered by the CCLAAC and have been incorporated into the Conservation
Collier Long Term Financial Management Plan that will ensure management of all Conservation Collier
Preserves in perpetuity. The Initial costs of maintenance have been provided in the Project Design Report
(PDR) attached. The average annual per acre maintenance cost for the first five (5) years (initial
maintenance costs) is $425/acre including exotic vegetation removal. The FY23 management costs for
exotic vegetation removal and signage for the subject property is estimated at $770. After initial
restoration, the average maintenance costs by Conservation Collier are approximately $150 per acre.
GROWTH MANAGEMENT IMPACT: Fee simple acquisition of conservation lands is consistent
with and supports Policy 1.3.1(e) in the Conservation and Coastal Management Element of the Collier
County Growth Management Plan.
LEGAL CONSIDERATIONS: This item is approved as to form and legality and requires majority vote
for approval. - RTT
RECOMMENDATION: That the Board of County Commissioners:
16.C.8
Packet Pg. 1469
09/13/2022
1) Approves the attached Agreement and accepts the Warranty Deed once it has been received and
approved by the County Attorney’s Office; 2) Authorizes the Chairman to execute the Agreement and any
and all other County Attorney’s Office approved documents related to this transaction; 3) Authorizes the
County Manager or her designee to prepare related vouchers and Warrants for payment; and 4) Directs
the County Manager or her designee to proceed to acquire this parcel, to follow all appropriate closing
procedures, to record the deed and any and all necessary documents to obtain clear title to this parcel, and
to take all reasonable steps necessary to ensure performance under the Agreement.
Prepared by: Cindy M. Erb, Senior Property Acquisition Specialist, Facilities Management Division
ATTACHMENT(S)
1. Signed Agreement Bailey (Gore) (PDF)
2. Bailey-PDR-Gore (PDF)
3. [Linked] Appraisal Bailey (Gore) Report (PDF)
16.C.8
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09/13/2022
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.C.8
Doc ID: 23034
Item Summary: Recommendation to approve an agreement for sale and purchase with Charles
Edwin Bailey, Jr., for approximately 1.14 acres under the Conservation Collier Land Acquisition
Program, at a cost not to exceed $25,600.
Meeting Date: 09/13/2022
Prepared by:
Title: Property Acquisition Specialist, Senior – Facilities Management
Name: Cindy Erb
08/16/2022 12:44 PM
Submitted by:
Title: Director - Facilities Maangement – County Manager's Office
Name: Ed Finn
08/16/2022 12:44 PM
Approved By:
Review:
Public Services Department Melissa Hennig Additional Reviewer Completed 08/16/2022 1:34 PM
Parks & Recreation Olema Edwards Additional Reviewer Completed 08/16/2022 1:38 PM
Facilities Management Jennifer Belpedio Manager - Real Property Completed 08/17/2022 3:34 PM
Public Utilities Operations Support AmiaMarie Curry Additional Reviewer Completed 08/18/2022 12:30 PM
Public Services Department Todd Henry Additional Reviewer Completed 08/18/2022 3:55 PM
Parks & Recreation Summer BrownAraque Additional Reviewer Completed 08/18/2022 4:13 PM
Public Utilities Department Drew Cody Level 1 Division Reviewer Completed 08/18/2022 4:26 PM
County Manager's Office Ed Finn Director - Facilities Completed 08/28/2022 5:53 PM
Public Utilities Department George Yilmaz Level 2 Division Administrator Review Skipped 08/17/2022 9:45 AM
Public Services Department Tanya Williams Additional Reviewer Completed 08/30/2022 10:46 AM
County Attorney's Office Ronald Tomasko Additional Reviewer Completed 09/06/2022 2:11 PM
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review Completed 09/06/2022 2:19 PM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 09/06/2022 3:27 PM
Office of Management and Budget Christopher Johnson Additional Reviewer Completed 09/06/2022 4:12 PM
County Manager's Office Dan Rodriguez Level 4 County Manager Review Completed 09/06/2022 5:33 PM
Board of County Commissioners Geoffrey Willig Meeting Pending 09/13/2022 9:00 AM
16.C.8
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CONSERVAT10N COLL ER
TAX IDENTIFiCAT10N NUMBER:41618460003
AGREEMENT FOR SALE AND PURCHASE
THIS AGREEMENT is made and entered into by and between CHARLES EDWIN
BAILEY JR., whose address is 940 Sixth Street, Charleston, VlN 25302, (hereinafter
referred to as "Seller"), and COLLIER COUNTY, a political subdivision of the State of
Florida, its successors and assigns, whose address is 3335 Tamiami Trail East, Suite
102, Naples, FL 34112, (hereinafter referred to as "Purchaser").
WITNESSETH
WHEREAS, Seller is the owner of that certain parcel of real property (hereinafter
referred to as "Property"), located in Collier County, State of Florida, and being more
particularly described in Exhibit "A", attached hereto and made a part hereof by
reference.
WHEREAS, Purchaser is desirous of purchasing the Property, subject to the conditions
and other agreements hereinafter set forth, and Seller is agreeable to such sale and to
such conditions and agreements.
NOW, THEREFORE, and for and in consideration of the premises and the respective
undertakings of the parties hereinafter set forth and the sum of Ten Dollars ($10.00), the
receipt and sufficiency of which is hereby acknowledged, it is agreed as follows:
I. AGREEMENT
1.01 ln consideration of the purchase price and upon the terms and conditions
hereinafter set forth, Seller shall sell to Purchaser and Purchaser shall purchase
from Seller the Property, described in Exhibit "A".
II. PAYMENT OF PURCHASE PRICE
2.01 The purchase price (the "Purchase Price") for the Property shall be Twenty-
Five Thousand Dollars and 00/100 dollars ($25,000.00), (U S' currency)
payable at time of closing.
III. CLOSING
3.01 The Closing (THE "CLOSING DATE", "DATE OF CLOSING"' OR
"CLOSING") of the transaction shall be held on or before two hundred and forty
(240) days following execution of this Agreement by the Purchaser, unless
extended by mutual written agreement of the parties hereto. The closing shall be
held at the collier county Attorney's office, Administration Building, 3299 Tamiami
Trail East, Naples, Florida. The procedure to be followed by the parties in
connection with the Closing shall be as follows:
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16.C.8.a
Packet Pg. 1472 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVATION COLLIER
TAX IDENTIFICATION NU[IBER: 41 61 8'l 60003
3.011 Seller shall convey a marketable title free of any liens, encumbrances,
exceptions, or qualifications. Marketable title shall be determined according to
applicable title standards adopted by the Florida Bar and in accordance with
law. At the Closing, the Seller shall cause to be delivered to the Purchaser
the items specified herein and the following documents and instruments duly
executed and acknowledged, in recordable form:
3.0111 Warranty Deed in favor of Purchaser conveying title to the
Property, free and clear of all liens and encumbrances other than:
(a) The lien for current taxes and assessments.
(b) Such other easements, restrictions or conditions of record.
3.01 12 Combined Purchaser-Seller closing statement.
3.0113 A "Gap," Tax Proration, Owner's and Non-Foreign Affidavit," as
required by Section 1445 of the lnternal Revenue Code and as required
by the title insurance underwriter in order to insure the "gap" and issue
the policy contemplated by the title insurance commitment.
3.0114 A W-9 Form, "Request for Taxpayer ldentification and
Certification" as required by the lnternal Revenue Service.
3.012 At the Closing, the Purchaser, or its assignee, shall cause to be delivered to
the Seller the following:
3.0121 A negotiable instrument (County Warrant) in an amount equal to
the Purchase Price. No funds shall be disbursed to Seller until the Title
Company verifies that the state of the title to the Property has not
changed adversely since the date of the last endorsement to the
commitment, referenced in Section 4.01 1 thereto, and the Title Company
is irrevocably committed to pay the Purchase Price to Seller and to issue
the Owner's title policy to Purchaser in accordance with the commitment
immediately after the recording of the deed.
3.0122 Funds payable to the Seller representing the cash payment due
at Closing in accordance with Article lll hereof, shall be subject to
adjustment for prorations as hereinafter set forth.
3.02 Each party shall be responsible for payment of its own attorney's fees. Seller,
at its sole cost and expense, shall pay at Closing all documentary stamp taxes due
relating to the recording of the Warranty Deed, in accordance with Chapter 201 .01 ,
Florida Statutes, and the cost of recording any instruments necessary to clear
Seller's title to the Property. The cost of the Owner's Form B Title Policy, issued
pursuant to the Commitment provided for in Section 4.011 below, shall be paid by
Purchaser. The cost of the title commitment shall also be paid by Purchaser.
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16.C.8.a
Packet Pg. 1473 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 4161 81 60003
3.03 Purchaser shall pay for the cost of recording the Warranty Deed. Real
Property taxes shall be prorated based on the current year's tax with due
allowance made for maximum allowable discount, homestead and any other
applicable exemptions and paid by Seller. lf Closing occurs at a date which the
current year's millage is not fixed, taxes will be prorated based upon such prior
year's millage.
IV. REQUIREMENTS AND CONDITIONS
4.01 Upon execution of this Agreement by both parties or at such other time as
specified within this Article, Purchaser and/or Seller, as the case may be, shall
perform the following within the times stated, which shall be conditions precedent
to the Closing;
4.01 1 Within fifteen (15) days after the date hereof, Purchaser shall obtain as
evidence of title an ALTA Commitment for an Owner's Title lnsurance Policy
(ALTA Form B-1970) covering the Property, together with hard copies of all
exceptions shown thereon. Purchaser shall have thirty (30) days, following
receipt of the title insurance commitment, to notify Seller in writing of any
objection to title other than liens evidencing monetary obligations, if any,
which obligations shall be paid at closing. lf the title commitment contains
exceptions that make the title unmarketable, Purchaser shall deliver to the
Seller written notice of its intention to waive the applicable contingencies or to
terminate this Agreement.
4.012 lf Purchaser shall fail to advise the Seller in writing of any such
objections in Seller's title in the manner herein required by this Agreement, the
title shall be deemed acceptable. Upon notification of Purchaser's objection to
title, Seller shall have thirty (30) days to remedy any defects in order to convey
good and marketable title, except for liens or monetary obligations which will
be satisfied at Closing. Seller, at its sole expense, shall use its best efforts to
make such title good and marketable. ln the event Seller is unable to cure said
objections within said time period, Purchaser, by providing written notice to
Seller within seven (7) days after expiration of said thirty (30) day period, may
accept title as it then is, waiving any objection; or Purchaser may terminate the
Agreement. A failure by Purchaser to give such written notice of termination
within the time period provided herein shall be deemed an election by
Purchaser to accept the exceptions to title as shown in the title commitment.
4.013 Seller agrees to furnish any existing surveys of the Property in seller's
possession to Purchaser within 10 (ten) days of the effective date of this
Agreement. Purchaser shall have the option, at its own expense, to obtain a
current survey of the Property prepared by a surveyor licensed by the state of
Florida. No adjustments to the Purchase Price shall be made based upon any
change to the iotal acreage referenced in Exhibit "A," unless the difference in
a"r"ig" revealed by survey exceeds 5% of the overall acreage. lf the survey
provid-ed by Seller or obtiined by Purchaser, as certified by a registered
Florida surveyor, shows: (a) an encroachment onto the property; or (b) that an
op
16.C.8.a
Packet Pg. 1474 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVATION COLLIER
TAX IDENTIFICATION NUlilBERi 41 61 81 60003
improvement located on the Property projects onto lands of others, or (c) lack
of legal access to a public roadway, the Purchaser shall notify the Seller in
writing of such encroachment, projection, or lack of legal access, and Seller
shall have the option of curing said encroachment or projection, or obtaining
legal access to the Property from a public roadway, within sixty (60) days of
receipt of said written notice from Purchaser. Purchaser shall have ninety (90)
days from the effective date of this Agreement to notify Seller of any such
objections. Should Seller elect not to or be unable to remove the
encroachment, projection, or provide legal access to the property within said
sixty (60) day period, Purchaser, by providing written notice to Seller within
seven (7) days after expiration of said sixty (60) day period, may accept the
Property as it then is, waiving any objection to the encroachment, or projection,
or lack of legal access, or Purchaser may terminate the Agreement. A failure
by Purchaser to give such written notice of termination within the time period
provided herein shall be deemed an election by Purchaser to accept the
Property with the encroachment, or projection, or lack of legal access.
V. INSPECTION PERIOD
5.01 Purchaser shall have one hundred and twenty (120) days from the date of this
Agreement, ("lnspection Period"), to determine through appropriate investigation
that:
1. Soil tests and engineering studies indicate that the Property can be developed
without any abnormal demucking, soil stabilization or foundations.
2. There are no abnormal drainage or environmental requirements to the
development of the Property.
3. The Property is in compliance with all applicable State and Federal
environmental laws and the Property is free from any pollution or
contamination.
4. The Property can be utilized for its intended use and purpose in the
Conservation Collier program.
5.02 lf Purchaser is not satisfied, for any reason whatsoever, with the results of
any investigation, Purchaser shall deliver to Seller prior to the expiration of the
lnspection Period, written notice of its intention to waive the applicable
contingencies or to terminate this Agreement. lf Purchaser fails to notify the Seller
in writing of its specific objections as provided herein within the lnspection Period,
it shall be deemed that the Purchaser is satisfied with the results of its
investigations and the contingencies of this Article V shall be deemed waived. ln
the event Purchaser elects to terminate this Agreement because of the right of
inspection, Purchaser shall deliver to Seller copies of all engineering reports and
environmental and soil testing results commissioned by Purchaser with respect to
the Property.
5.03 Purchaser and its agents, employees and servants shall, at their own risk and
expense, have the right to go upon the Property for the purpose of surveying and
conducting site analyses, soil borings and all other necessary investigation.
C●・
16.C.8.a
Packet Pg. 1475 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVATION COLLIER
TAx IDENTIFICATION NUIvIBER: 4161 8160003
Purchaser shall, in performing such tests, use due care. Seller shall be notified by
Purchaser no less than twenty-four (24) hours prior to said inspection of the
Property.
VI. INSPECTION
6.0'l Seller acknowledges that the Purchaser, or its authorized agents, shall have
the right to inspect the Property at any time prior to the Closing.
VII. POSSESSION
7.01 Purchaser shall be entitled to full possession of the Property at Closing.
VIII. PRORATIONS
8.01 Ad valorem taxes next due and payable, after closing on the Property, shall
be prorated at Closing based upon the gross amount of 2021 taxes, and shall be
paid by Seller.
IX. TERMINATION AND REMEDIES
9.01 lf Seller shall have failed to perform any of the covenants and/or agreements
contained herein which are to be performed by Seller, within ten (10) days of
written notiflcation of such failure, Purchaser may, at its option, terminate this
Agreement by giving written notice of termination to Seller. Purchaser shall have
the right to seek and enforce all rights and remedies available at law or in equity to
a contract vendee, including the right to seek specific performance of this
Agreement.
9.02 The parties acknowledge that the remedies described herein and in the other
provisions of this Agreement provide mutually satisfactory and sufficient remedies
to each of the parties and take into account the peculiar risks and expenses of
each of the parties.
X. SELLER'S AND PURCHASER'S REPRESENTATIONS AND WARRANTIES
10.0'l Seller and Purchaser represent and warrant the following:
10.01 1 Seller and Purchaser have full right and authority to enter into and to
execute this Agreement and to undertake all actions and to perform all tasks
required of each hereunder. Seller is not presently the subject of a pending,
threatened or contemplated bankruptcy proceeding.
10.012 Seller has full right, power, and authority to own and operate the
Property, and to execute, deliver, and perform its obligations under this
Agreement and the instruments executed in connection herewith, and to
consummate the transaction contemplated hereby. All necessary
authorizations and approvals have been obtained authorizing Seller and
ぴ
16.C.8.a
Packet Pg. 1476 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVATION COLLIER
TAx IDENTIFICATION NUMBER: 41618160003
Purchaser to execute and consummate the transaction contemplated hereby.
At Closing, certified copies of such approvals shall be delivered to Purchaser
and/or Seller, if necessary.
10.013 The warranties set forth in this paragraph shall be true on the date of
this Agreement and as of the date of Closing. Purchaser's acceptance of a
deed to the said Property shall not be deemed to be full performance and
discharge of every agreement and obligation on the part of the Seller to be
performed pursuant to the provisions of this Agreement.
10.014 Seller represents that it has no knowledge of any actions, suits, claims,
proceedings, litigation or investigations pending or threatened against Seller, at
law, equity or in arbitration before or by any federal, state, municipal or other
governmental instrumentality that relate to this agreement or any other
property that could, if continued, adversely affect Seller's ability to sell the
Property to Purchaser according to the terms of this Agreement.
1 0.015 No party or person other than Purchaser has any right or option to
acquire the Property or any portion thereof.
10.016 Until the date fixed for Closing, so long as this Agreement remains in
force and effect, Seller shall not encumber or convey any portion of the
Property or any rights therein, nor enter into any agreements granting any
person or entity any rights with respect to the Property or any part thereof,
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.
10.017 Seller represents that there are no incinerators, septic tanks or
cesspools on the Property; all waste, if any, is discharged into a public sanitary
sewer system; Seller represents that they have (it has) no knowledge that any
pollutants are or have been discharged from the Property, directly or indirectly
into any body of water. Seller represents the Property has not been used for
the production, handling, storage, transportation, manufacture or disposal of
hazardous or toxic substances or wastes, as such terms are defined in
applicable laws and regulations, or any other activity that would have toxic
results, and no such hazardous or toxic substances are currently used in
connection with the operation of the Property, and there is no proceeding or
inquiry by any authority with respect thereto. Seller represents that they have
(it has) no knowledge that there is ground water contamination on the Property
or potential of ground water contamination from neighboring properties. Seller
represents no storage tanks for gasoline or any other substances are or were
located on the Propefi at any time during or prior to Seller's ownership
thereof. Seller represents none of the Property has been used as a sanitary
landfill.
'10.018 Seller has no knowledge that the Property and Seller's operations
concerning the Property are in violation of any applicable Federal, State or
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16.C.8.a
Packet Pg. 1477 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 4'1618160003
local statute, law or regulation, or of any notice from any governmental body
has been served upon Seller claiming any violation of any law, ordinance, code
or regulation or requiring or calling attention to the need for any work, repairs,
construction, alterations or installation on or in connection with the Property in
order to comply with any laws, ordinances, codes or regulation with which
Seller has not complied.
10.019 There are no unrecorded restrictions, easements or rights of way (other
than existing zoning regulations) that restrict or affect the use of the Property,
and there are no maintenance, construction, advertising, management,
leasing, employment, service or other contracts affecting the Property.
10.020 Seller has no knowledge that there are any suits, actions or arbitration,
bond issuances or proposals therefor, proposals for public improvement
assessments, pay-back agreements, paving agreements, road expansion or
improvement agreements, utility moratoriums, use moratoriums, improvement
moratoriums, administrative or other proceedings or governmental
investigations or requirements, formal or informal, existing or pending or
threatened which affects the Property or which adversely affects Selleis ability
to perform hereunder, nor is there any other charge or expense upon or related
to the Property which has not been disclosed to Purchaser in writing prior to
the effective date of this Agreement.
10.021 Seller acknowledges and agrees that Purchaser is entering into this
Agreement based upon Seller's representations stated above and on the
understanding that Seller will not cause the zoning or physical condition of the
Property to change from its existing state on the effective date of this
Agreement up to and including the Date of Closing. Therefore, Seller agrees
not to enter into any contracts or agreements pertaining to or affecting the
Property and not to do any act or omit to perform any act which would change
the zoning or physical condition of the Property or the governmental
ordinances or laws governing same. Seller also agrees to notify Purchaser
promptly of any change in the facts contained in the foregoing representations
and of any notice or proposed change in the zoning, or any other action or
notice, that may be proposed or promulgated by any third parties or any
governmental authorities having jurisdiction of the development of the property
which may restrict or change any other condition of the Property.
10.022 Al the closing, seller shall deliver to Purchaser a statement
(hereinafter called the "closing Representative statement") reasserting the
ioregoing representations as of the Date of Closing, which provisions shall
survive the Closing.
10.023 Seller represents, warrants and agrees to indemnify, reimburse, defend
and hold Purchaser harmless from any and all costs (including attorney's fees)
asserted against, imposed on or incurred by Purchaser, directly or indirectly,
pursuant to- or in connection with the application of any federal, state, local or
common law relating to pollution or protection of the environment which shall
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16.C.8.a
Packet Pg. 1478 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 41 61 81 60003
be in accordance with, but not limited to, the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, 42 U.S.C. Section 9601,
et seq., ('CERCLA" or "Superfund"), which was amended and upgraded by the
Superfund Amendment and Reauthorization Act of 1986 ('SARA"), including
any amendments or successor in function to these acts. This provision and
the rights of Purchaser, hereunder, shall survive Closing and are not deemed
satisfied by conveyance of title.
'10.024 Any loss and/or damage to the Property between the date of this
Agreement and the date of Closing shall be Seller's sole risk and expense.
XI. NOTICES
11.01 Any notice, request, demand, instruction or other communication to be
given to either party hereunder shall be in writing, sent by facsimile with
automated confirmation of receipt, or by registered, or certified mail, return receipt
requested, postage prepaid, addressed as follows:
lf to Purchaser: Summer Araque, Coordinator
Conservation Collier Program
With a copy to:
Collier County Parks and Recreation Division
Public Services Department
Golden Gate Community Park
3300 Santa Barbara Blvd.
Naples, Florida 34116
Cindy M. Erb, SRA/VA, Senior Property Acquisition Specialist
Collier County Real Property Management
3335 Tamiami Trail East, Suite 102
Naples, Florida 34112
Telephone number: 239-252-89 17
Fax number: 239-252-8876
Charles E. Bailey Jr.
940 Sixth Street
Charleston, W 25302
Telephone number: 304-553-51 16
Fax number: N/A
11.02 The addressees and numbers for the purpose of this Article may be
changed by either party by giving written notice of such change to the other party
in the manner provided herein. For the purpose of changing such addresses or
addressees only, unless and until such written notice is received, the last
addressee and respective address stated herein shall be deemed to continue in
effect for all purposes.
:fto Se∥eri
oi"o
16.C.8.a
Packet Pg. 1479 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVATION COLLIER
TAX IDENTIFICATION NUT BER: 4'1618160003
XII. REAL ESTATE BROKERS
12.01 Any and all brokerage commissions or fees shall be the sole responsibility
of the Seller. Seller shall indemnify Purchaser and hold Purchaser harmless from
and against any claim or liability for commission or fees to any broker or any other
person or party claiming to have been engaged by Seller as a real estate broker,
salesman or representative, in connection with this Agreement. Seller agrees to
pay any and all commissions or fees at closing pursuant to the terms of a separate
agreement, if any.
XIII. MISCELLANEOUS
13.01 This Agreement may be executed in any manner of counterparts which
together shall constitute the agreement of the parties.
'13.02 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 trustee, and assignees
whenever the context so requires or admits.
13.03 Any amendment to this Agreement shall not bind any of the parties hereof
unless such amendment is in writing and executed and dated by Purchaser and
Seller. Any amendment to this Agreement shall be binding upon Purchaser and
Seller as soon as it has been executed by both parties.
13.04 Captions and section headings contained in this Agreement are for
convenience and reference only; in no way do they define, describe, extend or
limit the scope or intent of this Agreement or any provisions hereof.
13.05 All terms and words used in this Agreement, regardless of the number and
gender in which used, shall be deemed to include any other gender or number as
the context or the use thereof may require.
13.06 No waiver of any provision of this Agreement shall be effective unless it is in
writing signed by the party against whom it is asserted, and any waiver of any
provision of this Agreement shall be applicable only to the specific instance to
which it is related and shall not be deemed to be a continuing or future waiver as
to such provision or a waiver as to any other provision.
13.07 lf any date specified in this Agreement falls on a Saturday, Sunday or legal
holiday, then the date to which such reference is made shall be extended to the
next succeeding business day.
13.08 Seller is aware of and understands that the "offer" to purchase represented
by this Agreement is subject to acceptance and approval by the Board of County
Commissioners of Collier County, Florida.
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16.C.8.a
Packet Pg. 1480 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVATION COLLIER
TAX IDENTIFICATION NUMBER: 41 6'l 81 60003
13.09 lf the Seller holds the Property in the form of a partnership, limited
partnership, corporation, trust or any form of representative capacity whatsoever
for others, Seller 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 before Property held in such capacity is
conveyed to Collier County. (lf 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.)
13.10 This Agreement is governed and construed in accordance with the laws of
the State of Florida.
XIV. ENTIRE AGREEMENT
14.01 This Agreement and the exhibits attached hereto contain the entire
agreement between the parties, and no promise, representation, warranty or
covenant not included in this Agreement or any such referenced agreements has
been or is being relied upon by either party. No modification or amendment of this
Agreement shall be of any force or effect unless made in writing and executed and
dated by both Purchaser and Seller. Time is of the essence of this Agreement.
lN WITNESS WHEREOF, the parties hereto have signed below.
Dated Prolect/Acquislion Approved by BCC:
AS TO PURCHASER:
ATTEST:
CRYSTAL K KINZEL,Clerk ofthe
Circul Court and Comptroller
BOARD OF COUNTY COMM:SSiONERS
COLLIER COUNTY,FLOR:DA
BY:
, Deputy Clerk
Approved as to form and legality:
VⅥLLIAM L MCDANIEL,」R,Chairman
Ronald T. Tomasko, Assistant County Attorney
10 ぴ
16.C.8.a
Packet Pg. 1481 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVAI:ON COヒ LIER
TAX IDttNTlFlCATiON NUMBER1 41618160003
AS TO SELLERI
DAT猛 〕′″/多
∫
1/ViTNESSES:
16.C.8.a
Packet Pg. 1482 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
CONSERVAT10N COLL ER
TAX IDENTIFICAT10N NUMBER:41618160003
EXHIBI丁 ``A"
PROPERTY IDEN丁 IF!CAT!ON NUMBER:41618160003
LECAL DESCR!PT10N:
THE llVES丁 75 FEET OF THEllVEST 150 0F TRACT 98,GOLDEN GAttEESTATES, UNIT N0 92, ACCORDING TO THE MAP OR PLAT
THEREOF RECORDED IN PLAT B00K 5, PAGE(S)31, OF THE
PUBLIC RECORDS OF COLLIER COUNTY,FLOR:DA
1.14 acres
∫
16.C.8.a
Packet Pg. 1483 Attachment: Signed Agreement Bailey (Gore) (23034 : Conservation Collier - Gore Preserve - Bailey)
1
Conservation Collier Land Acquisition Program
Project Design Report
Bailey Property
Date: September 2022
Property Owner: Charles E. Bailey, Jr.
Folio(s): 41618160003
Location: GOLDEN GATE EST UNIT 92 W 75FT OF TR 98
Size: 1.14 acres
Appraised Value: $25,000
History of Project:
Purpose of Project: Environmental Conservation – Conservation Collier Program
Program Qualifications:
This parcel is adjacent to the Dr. Robert H. Gore III Preserve. The Bailey parcel was considered
due to its proximity to an existing Conservation Collier preserve. The Bailey project met 5 out of
6 Initial Screening Criteria identified in the Conservation Collier Ordinance, No. 2007-65, as
amended, including presence of native habitat, potential for nature-based recreational and
educational opportunities, protection of water resource values and wetland dependent species
habitat, presence of significant biological/ecological values, listed species habitat, connectivity
and restoration potential.
Potential access for nature-based recreation, and enhancement of the aesthetic setting of Collier
County
This parcel offers access from 40th Ave NE off of Desoto Blvd – a paved public road. This property
could accommodate outdoor recreation, particularly due to the proximity to the Dr. Robert H. Gore
III Preserve.
Opportunities for protection of water resource values, including aquifer recharge, water quality
enhancement, protection of wetland dependent species habitat, and flood control
The parcel has many wetland dependent plant species and contains karst topography, which is a
wetland indicator, despite soils that indicate that wetlands may also be seasonal. The parcel
provides minimal water quality enhancement beyond accommodating sheet flow into the I-75
canal.
Selected for the “A” category,
#1 priority, on the Active
Acquisition List (AAL) by
CCLAAC
Selected for the “A”
category, #1 priority,
on AAL by BCC
Purchase
offer made to
owners
Offer Accepted
12/9/22 1/25/2022 7/20/2022 7/21/2022
16.C.8.b
Packet Pg. 1484 Attachment: Bailey-PDR-Gore (23034 : Conservation Collier - Gore Preserve - Bailey)
2
Property enhances and/or protect the environmental value of current conservation lands
through function as a buffer, ecological link, or habitat corridor
The Bailey parcel expands the Dr. Robert H. Gore III Preserve. This parcel, joined with many
others, could also permanently protect a corridor between North Belle Meade and the Florida
Panther National Wildlife Refuge.
Zoning, Growth Management and Land Use Overlays: The parcel is within the Northern
Golden Gate Estates. The zoning classification is Estates (E), a rural residential classification.
There are no additional land use overlays applicable.
Projected Management Activities: Projected management activities include the removal of
invasive plants, the development of a Land Management Plan, and continued development of
public access to selected portions of the preserve.
Estimated Management Costs:
Management
Element 2023 2024 2025 2026
2027
Exotics $570 $456 $456 $456 $285
Signage $200
Total $770 $456 $456 $456 $285
SEE PAGES 3 AND 4 FOR AERIAL MAPS OF THE PARCEL.
16.C.8.b
Packet Pg. 1485 Attachment: Bailey-PDR-Gore (23034 : Conservation Collier - Gore Preserve - Bailey)
3
16.C.8.b
Packet Pg. 1486 Attachment: Bailey-PDR-Gore (23034 : Conservation Collier - Gore Preserve - Bailey)
4
16.C.8.b
Packet Pg. 1487 Attachment: Bailey-PDR-Gore (23034 : Conservation Collier - Gore Preserve - Bailey)
APPRAISAL REPORT
FOR
THE CONSERVATION COLLIER
PROGRAM AND THE COLLIER
COUNTY BOARD OF COUNTY
COMMISSIONERS
SUBJECT PROPERTY:
40TH AVENUE SE (BAILEY)
NAPLES, FL 34117
AT THE REQUEST OF:
ROOSEVELT LEONARD, R/W-AC
SR. REVIEW APPRAISER
COLLIER COUNTY FACILITIES
MANAGEMENT/REAL PROPERTY
3335 TAMIAMI TRAIL E., STE. 101
NAPLES, FL 34112
ASSIGNMENT NO.:
6053E-TS
APPRAISAL EFFECTIVE DATE:
JUNE 7, 2022
DATE OF REPORT:
JUNE 22, 2022
6053E Report Table of Contents
Carroll & Carroll
Table of Contents
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS ......................................................... 1
CERTIFICATION ..................................................................................................................................... 2
SCOPE OF WORK ................................................................................................................................... 4
ESTATE APPRAISED .............................................................................................................................. 5
DEFINITION OF MARKET VALUE ..................................................................................................... 6
ASSUMED EXPOSURE TIME ................................................................................................................ 6
AREA INFORMATION .......................................................................................................................... 7
MARKET AREA ..................................................................................................................................... 17
PROPERTY INFORMATION ............................................................................................................... 28
SITE DESCRIPTION .......................................................................................................................... 29
SUBJECT PHOTOGRAPHS .............................................................................................................. 31
ENVIRONMENTAL CONTAMINATION .................................................................................... 33
NATURAL RESOURCE CONCERNS ............................................................................................ 34
ZONING .............................................................................................................................................. 38
ASSESSMENT AND TAXES ............................................................................................................ 40
FLOOD ZONE DATA ....................................................................................................................... 41
TRANSACTIONAL HISTORY ........................................................................................................ 42
CURRENT STATUS ........................................................................................................................... 42
HIGHEST AND BEST USE ................................................................................................................... 43
CONSIDERATION OF APPROACHES ............................................................................................. 44
SALES COMPARISON APPROACH ................................................................................................. 45
LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES ............................. 46
VACANT LAND COMPARABLES ................................................................................................ 47
LAND SALES ADJUSTMENT GRID .............................................................................................. 52
ESTIMATE OF VALUE ..................................................................................................................... 57
ADDENDA ............................................................................................................................................. 59
6053E Report Summary of Important Data & Conclusions
Carroll & Carroll 1
SUMMARY OF IMPORTANT DATA AND CONCLUSIONS
This information is summarized only for convenience. The value given is the final, rounded
conclusion of the appraisal. To use this summary without first reading the appraisal report
could be misleading.
PROPERTY INFORMATION
Property Identification 40th Avenue SE (Bailey), Naples, FL 34117
Property Description
A 1.14-acre vacant parcel located along the north side of 40th
Avenue SE in Naples, Florida.
Property Type Vacant Land
Owner of Record Charles Edwin Bailey, Jr.
Property ID # 41618160003
CLIENT INFO & VALUE CONCLUSIONS
Client Collier County Facilities Management Department
Intended Use
To assist the Conservation Collier Program and the Collier
County Board of County Commissioners.
Intended Users
Conservation Collier Program and the Collier County
Board of County Commissioners.
Appraisal Effective Date June 7, 2022
Date of Report June 22, 2022
Date of Inspection June 7, 2022
Purpose of Appraisal Estimate market value “As Is”
Estate Appraised Fee Simple
Interest Appraised 100%
Estimated Market Value $25,000
GENERAL INFO
Appraiser
Timothy W. Sunyog, MAI
State-Certified General Appraiser RZ 3288
Scope of Work All applicable approaches to value were developed.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITIONS
None
6053E Report Certification
Carroll & Carroll 2
CERTIFICATION
I CERTIFY THAT, TO THE BEST OF MY KNOWLEDGE AND BELIEF:
I personally inspected the subject property and the comparable sales.
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 our 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 no personal interest with respect to the parties involved.
In the three years immediately prior to acceptance of this assignment I have not
performed any services regarding the subject property as appraisers, or in any other
capacity.
I have no bias with respect to the property that is the subject of this report or the parties
involved with this assignment.
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
development 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.
My analyses, opinions and conclusions were developed, and this report was prepared,
in conformity with the Uniform Standards of Professional Appraisal Practice. I am also
subject to the Code of Ethics and Standards of Professional Practice of the Appraisal
Institute, which includes provisions for peer review.
The use of this report is subject to the requirements of the State of Florida relating to
review by the Florida Real Estate Appraisal Board and to the requirements of the
Appraisal Institute relating to review by its duly authorized representatives.
No one other than the undersigned prepared the analyses, opinions and conclusions
concerning real estate that are set forth in this report.
6053E Report Certification
Carroll & Carroll 3
As of the date of this report, I have completed the requirements of the continuing
education program of the State of Florida, and for Designated Members of the
Appraisal Institute.
CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
6053E Report Scope of Work
Carroll & Carroll 4
SCOPE OF WORK
All applicable approaches to value were developed and the value conclusion reflects all
known information about the subject property, market conditions, and available data.
The scope of work was:
• Inspected the subject property and the comparable sales
• Reviewed aerial photographs, land use plans, the Land Development Code, the
Conservation Collier Initial Criteria Screening Report and other documentation
• Reviewed how the property relates to its neighborhood and to the broader market area
in development of an opinion of highest and best use
• Researched vacant land comparable sales, listings, and pending sales
• Developed the sales comparison approach
• Estimated the market value of the fee simple estate
• Prepared an appraisal report summarizing the appraisal assignment, the property
appraised, the application of the appraisal methodology, and the logical support for the
value conclusion
Sources of market data included local and regional MLS systems, CoStar, LoopNet, public
records, and interviews with real estate brokers.
6053E Report Estate Appraised
Carroll & Carroll 5
ESTATE APPRAISED
The estate appraised is the Fee Simple Absolute. For appraisal purposes Fee Simple
Absolute is synonymous with Fee Simple.
The Dictionary of Real Estate Appraisal, Seventh Edition, published 2022 by the Appraisal
Institute, defines Fee Simple Estate as:
Absolute ownership unencumbered by any other interest or estate, subject only to the limitations
imposed by the governmental powers of taxation, eminent domain, police power, and escheat.
We consider easements, but only to the extent that they are known to us. Appraisal of the
fee simple means that an improved property is vacant and available to be put to its highest
and best use.
6053E Report Definition of Market Value
Carroll & Carroll 6
DEFINITION OF MARKET VALUE
In United States tax law, the definition of Fair Market Value is found in the United States
Supreme Court decision in the Cartwright case:
The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell
and both having reasonable knowledge of relevant facts.
United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S.
Tax Case. (CCH) ¶ 12,926 (1973) (quoting from U.S. Treasury regulations relating to Federal
estate taxes, at 26 C.F.R. sec. 20.2031-1(b)).
ASSUMED EXPOSURE TIME
The reasonable exposure time is assumed to have already occurred as of the appraisal
effective date. The assumed reasonable exposure time was between 3 and 6 months.
6053E Report Area Analysis
Carroll & Carroll 7
AREA INFORMATION
COLLIER COUNTY ANALYSIS
An analysis of geography, transportation, population, employment, income, and education
for Collier County is performed using data provided by Site to Do Business, Florida Office
of Economic & Demographic, United States Department of Labor, all recognized source(s).
GEOGRAPHY
Collier County is the most southerly county on Florida's west coast offering mainland
coastal development. Collier County is west of Ft. Lauderdale and south of Tampa. With
2,025 square miles of land area, it is the largest county in Florida. About 63% of the land
area is in public ownership, is set aside for environmental preservation, or is scheduled for
public land acquisition.
The region enjoys a climate that is classified as subtropical. Summers are relatively mild,
and winters are usually frost free. A hard freeze is a rarity. The climate, especially in winter,
is one that attracts and is enjoyable to most people.
The geography of the area runs generally northwest and southeast as indicated by the trend
of the coastline. Beaches extend from the northern county line south to Cape Romano and
then, as the coastline trends further to the southeast, beaches give over to mangrove islands
and swamps. Moving northeastward from the beaches, elevations increase very slowly.
Most of the county is less than 15 feet above mean sea level. Although changes in elevation
6053E Report Area Analysis
Carroll & Carroll 8
are gradual, they are well defined by variations in vegetation. Much of the county is, or was
once, wetland. The once plentiful marine resources are largely depleted, but still provide
good sport fishing.
Population centers include the coastal communities of Naples, Marco Island and
Everglades/Chokoloskee. Immokalee, the single large interior community, is in north
Collier County and is the agricultural center of the region.
POPULATION
“The social forces studied by appraisers primarily relate to population characteristics. The
demographic composition of the population reveals the potential demand for real estate,
which makes the proper analysis and interpretation of demographic trends important in an
appraiser’s analysis.” The total population, it's composition by age and gender, and the rate
of household formation and dissolution strongly influence real property values. (The
Appraisal of Real Estate 14th Edition)
Collier County’s population has continued to increase year after year. The population has
increased 9.24% as of 2020 from 2016. The population forecasts through 2025 calls for a
continued steady growth cycle with an estimated 8.93% population growth from 2020 to
2025.
6053E Report Area Analysis
Carroll & Carroll 9
Collier County for years has been one of the nations’ fastest growing counties, historically
outperforming the state. Population increases began in 2010, trending once again towards
outperforming the state. Strong growth is expected at 5 to 10% annually through 2025.
Collier County is a popular retirement destination. As of 2020, 55.6% of the County’s
residents are over the age of 45. The 2025 forecasts depict an aging community with 56.2%
of the population 45 years of age or older.
6053E Report Area Analysis
Carroll & Carroll 10
EMPLOYMENT
Collier County is a largely service based economy with 37.6% of the employees in the
leisure, hospitality, education, and health service industries and 21.4% in professional,
business, financial and other services. Trade, transportation, & utilities along with
government jobs account for 27.9% of the County’s employees. Industries such as natural
resources/mining, construction, and manufacturing make up only 5.4% of the market.
Top 11 Largest Employers Collier County -2019
Rank Company Employees
1 Publix Super Market 8,728
2 NCH Healthcare System 7,017
3 Collier County School District 5,604
4 Collier County Local Government 5,119
5 Arthrex, Inc 2,500
6 Ritz Carlton- Naples 1,450
7 City of Naples 1,169
8 Moorings Park 888
9 News-Press/Naples Daily News 840
10 Physicians Regional 950
11 Seminole Casino 800
Source: www.swfleda.com/top-100-employers/ as reported in 2019
The unemployment rate in Collier County exceeded the state average by a slight margin in
the years 2009 and 2010. The unemployment rate then declined through 2016 as the
economy improved and, until recently, Collier County’s unemployment rates decreased
more rapidly the state.
6053E Report Area Analysis
Carroll & Carroll 11
INCOME
Collier County’s per capita income and median household income levels are higher than
state statistics. The most substantial difference between Collier County and the state is the
large percentage difference in household incomes above $100,000 where Collier County
exceeds the state by over 9%. Collier County's percentage household incomes ranging from
$25,000 to $99,999 mirror that of the state but is significantly lower in the percentage of
household incomes under $25,000. Income levels vary greatly within different areas of
Collier County, and so, will be discussed in greater detail in the Market Area descriptions.
TRANSPORTATION
The transportation system reflects local geography, population densities and the primary
motivators of tourism, service industry employment, the construction industry, agriculture,
and leisure activities.
ROADS
The earliest roads were coastal, extending from north to south in the early twentieth century
with the first settlers. Principal among these is US-41, commonly referred to as the Tamiami
Trail because it was built to connect Tampa and Miami. Where it passes through the coastal
community US-41 is a four or six lane divided highway with landscaped medians, curb and
gutter, streetlights and often with concrete sidewalks. The Trail is the principal coastal
arterial and one that defines several important boundaries. Often there is a noticeable land
value difference east and west of US-41 because the affluent coastal population prefers to
shop and trade close to home. As the highway turns southeast from downtown Naples
toward Miami the Trail defines the boundary of the coastal management zone which affects
6053E Report Area Analysis
Carroll & Carroll 12
development densities and storm evacuation requirements. The eastern segment of US -41
is a designated national scenic highway popular with tourists, especially during the winter
season as they seek adventure in the Everglades.
A system of asphalt surfaced arterials, major collectors, minor collectors, and neighborhood
streets extend into the urban area east and west from US-41. North-south arterials and
major collectors are established about one mile apart. From west to east, these include
Goodlette-Frank Road, Airport-Pulling Road, Livingston Road, Santa Barbara Boulevard
and Collier Boulevard. The east-west grid is spaced about two miles apart; from north to
south being Immokalee Road (CR-864), Vanderbilt Beach Road (CR-862), Pine Ridge Road
(CR-896), Golden Gate Parkway (CR-886), Radio Road (CR-856), Davis Boulevard (SR-84),
and Rattlesnake Hammock Road (CR-864). Within the urban area all of these are at least 4
lane divided highways.
East of Collier Boulevard the road system reflects the economies of scale of Golden Gate
Estates subdivision (the Estates) where 102 square miles of rural subdivision is supported
by a grid system of paved and unpaved 2 lane streets, with 2 and 4 lane asphalt surfaced
major collectors. Golden Gate Boulevard, a 4-lane divided road for five of its eleven miles
east of CR-951, is the principal east-west collector. Everglades Boulevard (2 lane and
asphalt surfaced) is the north-south major collector extending south from Immokalee Road
14 miles to the grade separation at I-75 where it continues into the Picayune Strand State
Forest. Most of the neighborhood streets in Golden Gate Estates are asphalt. Collier
County is planning to extend east-west collectors through the Estates along the alignment of
Vanderbilt Beach Road and somewhere south of Golden Gate Boulevard. A north-south
connection is also planned from the eastern terminus of White Boulevard (Pine Ridge Road)
north to Golden Gate Boulevard.
Interstate highway 75 (I-75) was extended from north to south through Collier County in
the mid-1980s along a flood-proof route about five miles inland. Directly east of the City of
Naples I-75 joins the original alignment of State Road 84 (Alligator Alley) connecting with
Florida's east coast at Ft. Lauderdale. The coastal community I-75 interchanges are spaced
three to four miles apart at Immokalee Road (CR-864), Pine Ridge Road (CR-896), Golden
Gate Parkway (CR-886), and at Collier Boulevard/Davis Boulevard (CR-951/SR-84). Twenty-
one miles east of the coastal community is an interchange at State Road 29; the last
interchange in Collier County. Collier County and the FDOT continue to study the
feasibility of an interchange at Everglades Boulevard.
The advent of I-75 signaled a change in the relationship of Collier County to the rest of
Florida and the United States. While US-41 was the only north-south arterial, Collier
County was dominated by the conservative mid-western influences of seasonal residents
and somewhat isolated from the larger urban areas of Florida. After the late 1980s, road
access to Collier was made much more convenient to the northeast via connections with I-4
6053E Report Area Analysis
Carroll & Carroll 13
and I-95. This had the effect of broadening Collier's market exposure and it stimulated
growth. The extension of I-75 south into Dade County promoted better access for European
tourists and made Collier County transient lodging attractive for east coast weekenders.
Strategic connections exist where Collier Boulevard and CR-92 extend south and west from
US-41 providing access to the City of Marco Island from the greater Naples area and from
Florida's east coast, respectively. State Road 29 connects the southwest Florida agricultural
center of Immokalee with points north, with the Naples coastal community via CR-846,
with the Ft. Myers coastal community via SR-82, and with US-41 at Everglades City which
is the western gateway to Everglades National Park and the 10,000 Islands region of
Collier's southwest coast.
The road transportation system is well planned, well maintained, and operating at
acceptable capacity. Ambitious road construction projects undertaken in anticipation of
growth projections and funded by impact fees have caught up with development. The road
system reflects Collier's position at the southerly limit of development on Florida's west
coast.
MASS TRANSIT
Collier Area Transit (CAT), operated by Collier County Alternative Transportation Modes
Department, provides inexpensive alternative transportation throughout the county linking
major employment centers of Naples with Marco Island and Immokalee. There are several
circulation routes with stops at the County government complex, hospitals, and major
shopping establishments. The system accommodates bicycle transport and personal items.
The same County department administers the Collier Area Para Transit system which
provides subsidized transportation services for the disabled and economically
disadvantaged.
This is a successful and growing system that connects people with jobs, essential services,
and shopping while reducing transportation costs and road congestion.
AIRPORTS
Collier County is supported by a system of five public airports. Southwest Florida
International Airport (RSW) is located in Lee County 25 miles north of Naples; a 45-minute
drive via I-75 from the Collier center of population. This facility serves the five county
southwest Florida regions offering domestic and international air carrier service. It is
modern, convenient, and has planned expansion to keep up with regional growth.
Naples Municipal Airport (APF) owned by the City of Naples and operated by the
independently constituted Naples Airport Authority which derives its revenue principally
from fuel sales. This small airport (about 1 sq. mi.) is located one mile east of downtown
Naples. It serves the coastal community and is especially convenient to affluent residents
6053E Report Area Analysis
Carroll & Carroll 14
who own private aircraft, to the corporate convention business of the large beachfront
hotels, and to essential services like mosquito control, Emergency Medical Services (EMS),
the Sheriff's office, and private air ambulance services. The two paved runways (5/23 @
5,290' and 14/32 @ 5,000') will support jets including the G4 and Challenger series. Naples
airport is tower controlled and fully certified for commercial operations and is home to
several aircraft charter services and flight training schools. In 2005, Naples Municipal
Airport accommodated 163,434 aircraft operations, a record high. Annual operations
decreased by nearly 50% from 2005 to 2011. The total operations for 2020 were 104,479,
which is a 5.2% increase from the previous year. Due to its downtown location, Naples
airport has restricted operations of the noisiest jet aircraft and is at the leading edge of noise
abatement measures.
The Collier County Airport Authority owns and operates airports at Marco Island, in
Everglades City, and at Immokalee. These are primarily funded through fuel sales and
hangar leases. Marco Island Airport (MKY) is a very small (64.47 acres) general aviation
facility on the mainland four miles northeast of Marco Island. The single paved runway
(17/35 @ 5,000') will support light jet traffic. Hanger and ramp space is very limited. Fuel is
available. This airport is convenient to Marco Island residents and to the corporate
convention business of the Island hotels. Immokalee Regional Airport (IMM) is one mile
east of Immokalee and 35 miles by road northeast of Naples. This 2 square mile airport has
two paved 5,000-foot runways (18/36 and 09/27) a third diagonal runway is now used as a
weekend drag racing strip. The airport is in a Florida Rural Enterprise Zone and a HUB
Empowerment Zone. A 60-acre zone in and around the airport is a designated Foreign
Trade Zone. To date, the economic potential of this airport is largely unrealized. However,
the field is active as a training destination for coastal-based flight schools, it hosts aerial
firefighting and crop-dusting operations, and it bases numerous private aircraft. The
Everglades Airpark (X01) is a light duty general aviation facility of 29.14 acres is within
walking distance of downtown Everglades City. The single paved strip (15/33 @ 2,400')
supports itinerant coastal traffic and half a dozen-based aircraft. Fuel, a comfortable pilot
center and bicycles are available.
The aviation community is well supported. The greater Naples area is the beneficiary the
winter season influx of corporate executives and affluent individuals who can afford luxury
private jet travel.
6053E Report Area Analysis
Carroll & Carroll 15
MARINE TRANSPORTATION
There is no deep-water port and no commercial marine activity other than that associated
with commercial fishing, charter sport fishing, and the marine towing services that support
the pleasure boat industry. The controlling depth to the municipal dock in Naples Bay is six
feet at mean low water. The US Coast Guard maintains a dredged and well-marked
intracoastal waterway from the head of Naples Bay to Coon Key southeast of Marco Island.
Local geography requires vessels northbound from Naples to transit 30 miles of the Gulf of
Mexico before returning to the sheltered intracoastal system at Sanibel Island. According to
the Marine Industries Association of Collier County, as of early 2019 there were 22,749
registered vessels in Collier County. Seasonally, excursions from Marco Island to Key West
and from Ft. Myers Beach to Key West are scheduled daily.
EDUCATION
The Collier County School District provides public education to about 51,905 students
encompassing grades K-12. There are a total of 48 public schools consisting of 29
elementary, 10 middle, 8 high schools and one K-12 (Everglades City School). There are
also 12 alternative school programs. In addition to the public school system there are
numerous private schools scattered throughout the county. The Collier County School
District continues to receive a “B” grade by the State of Florida Department of Education.
By definition, an “A” or “B” grade delineates high performance. Between 2015 and 2020 the
school district had an overall population growth of more than 6,000 students.
Collier County is also home to several colleges and accredited universities. Three colleges
have campuses in Collier County: Ave Maria University, Hodges University and Florida
Southwestern State College (formerly Edison Community College). Ave Maria University is
6053E Report Area Analysis
Carroll & Carroll 16
a private catholic university that offers both undergraduate and graduate programs
including a law school has around 1,129 students. Florida Southwestern State College with
campuses in Naples, Punta Gorda, and Ft. Myers, offers both two-year and four-year degree
programs for 15,389 students, and Hodges University is a private four-year college that
offers bachelors and master’s degrees in 20 disciplines for around 1,676 students. Nearby
Florida Gulf Coast University (located in southern Lee County) is one of the state's fastest
growing institutions and home to over 15,373 students.
CONCLUSION
At the southerly limit of urban development on Florida's west coast, Collier County offers
the climate, natural resources, and sporting opportunities to support a superb retirement
community. The quality of infrastructure, schools, and social services is what one would
expect of such an area. We are experiencing a surge in new development projected to take
us through the next several years. In the long term, the attractions of the climate and
location, and the stability of fixed-account affluence promise continuing prosperity
although probably without the strong emphasis on new development.
6053E Report Market Area
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MARKET AREA
Market Area is defined as:
“The geographic region from which a majority of demand comes and in which the
majority of competition is located.” (The Dictionary of Real Estate Appraisal 7th Edition)
“A market area is defined in terms of the market for a specific category of real estate
and thus is the area in which alternative, similar properties effectively compete with the
subject property in the minds of probable, potential purchasers and users.” (The
Appraisal of Real Estate 15th Edition)
A market area includes those surrounding land uses which impact the value of a property
and it can encompass one or more neighborhoods or districts. An appraiser focuses on the
market area in analyzing subject property value influences.
BOUNDARIES
The subject property is located within the Golden Gate area of Collier County. For
appraisal purposes, the Golden Gate or market area boundaries are shown below:
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Introduction
The portion of Golden Gate within this market area is approximately 157 square miles in
size. Three separate land uses are worth noting. Golden Gate City, which is not
incorporated, is a 4-square mile development of high residential density consisting of both
single-family and multifamily units. Commercial services for this market area are
centralized here. The rural estates consist of approximately 116 square miles and is zoned
for estate living. This low-density development serves a rural lifestyle desired by many in
the area. A third area, Orange Blossom PUD located on Immokalee Road, is a 4-square mile
residential subdivision with commercial support near the Immokalee Road and Randall
Boulevard intersection. It is approximately 75% developed with primarily single-family
units. Collier County Fairgrounds, a high school, middle school, and elementary school are
located here.
Demographics for Golden Gate City and rural estates will be discussed separately, where
appropriate, Data for Orange Blossom PUD will be included in the rural estate’s
demographics.
Environmental Influences
This area is desired because of mild winter weather and rural lifestyle. Even though it is
inland from the coast there is still easy access to miles of beaches. The Naples area is one of
the very few in Florida that offers adequate public access to a mainland beach. The
subtropical weather allows for year-round recreational opportunities. Boating, swimming,
riding ATVs, and camping are popular activities. Bicycling, walking and jogging are
supported by an extensive network of connected biking and walking paths. Multiple tennis
and pickle ball courts are available, as well as fitness centers.
Golden Gate is known for its clean environment and healthy lifestyle. Residents are drawn
to the rural estates because of wooded lots, native vegetation and abundance of wildlife.
Agriculture uses are permitted; therefore, equestrian activities are common throughout the
estates. Golden Gate City is an urban area served by county parks and a biking/walking
path network.
Governmental Influences
This market area, including Golden Gate City, is governed by Collier County Board of
County Commissioners which serves as chief legislative body and five constitutional
officers: sheriff, clerk of courts, tax collector, supervisor of elections, and property appraiser.
County government is managed by a strong county manager structure. Collier County
provides services which range from average to high quality. However, Collier County is
known for being a difficult county for building and development. The tax burden in
Collier County is lower than the national average.
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County government has zoning, and comprehensive plan ordinances designed to protect
the character and values of property; to protect and enhance economic development; and to
maintain and enhance the attractive nature of the area.
Public services include fire protection, solid waste disposal, potable water, sanitary sewer
service and storm water drainage. In some areas of Golden Gate Estates where sanitary
sewer is not available, septic systems are permitted. Public/private companies proved
adequate services for electricity, cable, and internet. Community support facilities such as
schools, parks, churches, shopping, and places of employment are all located within this
market area.
Collier County Sheriff Department provides full range of services for Collier County.
According to the statistics listed by Florida Department of Law Enforcement, Collier
County crime index falls in the lowest 16% of all counties in Florida and crime rate has
decreased nine out of the past ten years. About 78% of all crime is either burglary or
larceny. The county averages are representative of conditions in the Golden Gate area.
This market area is served by several arterial roadways. All are six-lane divided highways
with beautifully landscaped medians. Improvements include street lighting and concrete
curb and gutter. North-south arterial roadways include Santa Barbara Boulevard which
connects Rattlesnake Hammock Road to Immokalee Road and Collier Boulevard (SR-951)
which is a major arterial linking Marco Island in south Collier County with Immokalee
Road near the north county line. Development along Collier Boulevard is a mixture of
single/multi-family residential, office, light industrial, institutional, and retail.
The Collier Boulevard thoroughfare anchors a grid of arterial roads spaced about 2 miles
apart, that serve the greater Naples coastal community which lies to the west and has direct
access to I-75.
East-west arterials include Golden Gate Parkway, Pine Ridge Road, and Immokalee Road.
Each one provides direct access to Interstate I-75. Development along Pine Ridge Road is
mainly developed with single family homes and institutional uses. Golden Gate Parkway
and Immokalee Roads have a mixture of single/multi-family residential, office, industrial,
institutional, and retail uses. Another east-west arterial is Vanderbilt Beach Road which is a
direct connection between the Golden Gate area and the Naples beaches and which is
planned to be extended to Wilson Boulevard.
Interstate I-75, which connects Collier County to both North Florida and Florida’s east coast,
serves this entire market area and access is provided by three interchanges.
The arterial road system is laid out in a grid pattern that provides adequate traffic flow to
all areas of the county. Commercial development exists at every major intersection; but the
intersections are designed with proper turns lanes and signaling to provide for adequate
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traffic movement. The road network easily handles traffic demand in the off-season, May
through December. Traffic more than doubles in January, February, March and April
because of seasonal residents and tourists. Even with exceptionally heavy traffic, the road
network usually handles peak traffic demand without major delays.
The rural estates are served by a grid of residential streets and collector roads. The
residential streets, which are two-lane roads with open swales, are located every quarter
mile. Most these roads are paved; however, some residential streets located along the
eastern edge of this market area have yet to be improved. The residential streets feed into
collector roads, which connect to the major arterial highway system. The collector roads
include Santa Barbara Boulevard, Golden Gate Boulevard, Wilson Boulevard, Everglades
Boulevard, Randall Boulevard and Oil Well Road. They are four to six-lanes in the more
populated areas, transitioning to two-lanes in the eastern section of this market area.
Public transportation is provided by a county transit bus service.
Naples Municipal Airport is located outside the market area but is easily accessed by any
resident of the area. The airport is City owned but operated by the independent Naples
Airport Authority. It serves private and commercial aviation, as well as aviation related
activities. It supports government services, such as, Mosquito Control District and Collier
County Sheriff’s aviation unit.
Located within the market area is the recently completed Paradise Sports Complex
developed by Collier County. The 60+ acre site is designed with 19 fields to accommodate
football, soccer, field hockey, lacrosse, baseball, and others. There is a 13-acre lake with a
beachfront, food-truck area, a market space, a large lawn, a championship stadium with
seating capacity for 3,500 and an indoor fieldhouse. The total budget for the project was
approximately $80 million dollars.
Social Influences
Golden Gates City is a diverse community of entry level housing. Residents like the small
town feel and consider it a safe place to raise a family. Residential is approximately 95%
built out. Rural estates are attractive for its quiet country living while being in close
proximity to all that the coastal community has to offer. Build out varies in the rural estates
from 95% in the western portion of the market area to 40% or less in the southeastern
location. Per US Census Bureau forecasts, the 2020 population is 72,924 with a projected
growth to 78,730 (7.34% growth) by 2025. This area experiences a lower seasonal
population increase during the winter months than other areas of Collier County.
The median age is 36.3 with 74.3% of the population being 54 and younger. The median
household income is $66,535. 26.2% have a bachelor’s or professional degree and 24.7%
have some college education. There is an average degree of community involvement
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through civic organizations, neighborhood groups, social service organizations and political
committees.
The Naples cost of living is 2% higher than the average cost of living in the United States.
Conversely, Florida has a cost of living that is lower than the US average. Of the 25
locations included in the Economic Policy Institute's dataset for Florida, Naples-Marco
Island is the 21st most expensive. In Naples, housing is the category with the highest index
(21% above national average), while taxes are the category with the lowest index (15%
below national average). (Ref. Careertrends.com; cost of living analysis). Golden Gate has
some of the highest density of affordable housing units in Collier County, but because of the
high cost of living, home values can still be out of reach for many moving into Collier
County.
One of the main driving forces impacting growth in this area is the quality of schools. This
market area has 15 public schools: two high schools, three middle schools, and nine
elementary schools. In addition to the public school system, there are three, faith-based
private schools.
Economic Influences
Population increased 10.63% over the last 10 years or 700 people per year. Population is
forecasted to increase an additional 7.96% over the next five years for an average of 1,161
people per year. This trend is consistent with the past sixteen years and should continue
into the near future as buildout continues along the eastern edge of this market area. The
residential population is dominated by working class and young professional residents.
Comparatively, incomes within this market area are less than the county average.
Development trends:
Residential
This market area provides a large range in home values from entry level housing to million-
dollar estates and is the greatest source of vacant residential lots in the county. Values in
Golden Gate City should remain consistent subject only to general market trends. Values in
the eastern rural estates will increase as buildout in the units closest to the coast continues
Median home value in the market area is $286,113 which is lower the than the County’s
median home value. Total number of households in the market area is 22,915, of which,
60.2% are owner occupied, 26.3% renter occupied and 13.5% vacant. Vacancy includes
seasonal rentals.
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Commercial
Commercial development can be categorized in four different groups. Primary commercial
is in Golden Gate City. Second group is newer construction at the arterial road
intersections. Third is neighborhood commercial within the rural estates. Fourth is the
industrial commerce park near Collier Boulevard and the I-75 interchange.
Golden Gate City is the commercial center serving this market area. Santa Barbara
Boulevard, north of Golden Gate Parkway, has a mixture of multi-family residential and
commercial along the east side of the road. Commercial consists of older single story, single
user buildings and 4 to 8 unit strip centers. Businesses include daycare/ preschools,
neighborhood food mart and gas stations, construction company offices, barber shops and
beauty salons and small restaurants. Golden Gate Parkway has a mixture of multi-family
and commercial development along both sides of the roadway. Newer commercial consists
of CVS and Walgreens Pharmacies, bank branches and national fast food restaurants. There
are three older shopping centers, anchored by Winn Dixie and by Ace Hardware. Single
story commercial structures and strip centers house neighborhood businesses such as
barber shops and beauty salons, florists and jewelers; veterinary services and family
medical clinics; and small locally-run restaurants and food marts. Several businesses
consist of automotive support such as gas stations, oil chance and car washes. Professional
services are primarily located in executive suites located near Santa Barbara Boulevard. The
Quality Inn Hotel & Golf Course located at the southwest corner of Golden Gate Parkway
and Collier Boulevard was purchased by Collier County in 2019 and they are still
determining how to redevelop the property. Commercial frontage along the west side of
Collier Boulevard south of Green Boulevard is very similar to commercial along Golden
Gate Parkway in building size, age and use. The exception is that there is a greater density
of national food chains. The second-tier commercial properties, without major road
frontage, are developed with single story warehouse-type structures housing service-
oriented businesses.
Newer commercial development is located along Collier Boulevard where it intersects Pine
Ridge Road and Vanderbilt Beach Road. Each intersection has a shopping center anchored
by either a Publix or Winn-Dixie super market. Out parcel development includes bank
branches and gas station/convenience stores and national pharmacies.
Commercial development in the rural estates is limited because residents have orchestrated
an ongoing effort to prohibit commercial development in the residential areas. The only
neighborhood commercial locations are at the intersection of Wilson Boulevard and Golden
Gate Boulevard and at Randall Boulevard and Immokalee Road, there is also minor
commercial development proposed at the Golden Gate Boulevard and Everglades
Boulevard intersection.
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The Randall Boulevard and Immokalee Road intersection is where the majority of
commercial development will occur. There is a Publix anchored shopping center and an
additional retail plaza is under construction. Located along the western curve of
Immokalee Road is 47.57 acres zoned Estate and currently owned by Collier County. The
property is under contract to sell to Crown Management Services for $3,750,000 or $78,831
per acre. The sale was approved by the Board of County Commissioners in September 24,
2019. The land is in the process of being rezoned to commercial and this area is located
within the Immokalee Rd./Randall Blvd. Planning Study area. Based on the initial meetings
with residents in the Golden Gate area, all felt like this is a strategic location to
accommodate additional commercial for Golden Gate Estates.
Industrial
Industrial/commercial developments are in the northeast quadrant of I-75 and Collier
Boulevard interchange. White Lake Industrial Corp Park is one of Collier County’s three
primary industrial parks. The White Lake Industrial Park contains 144.4 acres and is
approved for 7.80 acres of commercial and 77 acres of industrial. White Lake consists of
newer, good quality flex and warehouse properties and it is home to some of the largest
manufacturing facilities within the county. It is approximately 70-80% built-out.
City Gate Commerce Center contains 288 acres zoned for 2,950,000 S.F. of commercial, light
industry, office, warehouse and distribution. The site has over 3,000 feet of frontage on
Collier Boulevard where a gas station, a 102 room Spring Hill Marriott Hotel and a 100
room Fairfield Inn Marriott have been constructed. The Paradise Sports Complex was also
recently completed. A developer (Uline) recently completed the acquisition of
approximately 102.68 acres of land within City Gate for $45,369,512. Uline has plans to
build a 936,950-square-foot Distribution Center at this site. This project and a potential
Amazon Distribution Center near the corner of Davis and Collier Blvd. will add a number
of jobs to this area. However, this addition will also cause a lot more traffic in the area and
possibly an influx of people moving to the Golden Gate area to be closer to the distribution
centers for work.
Medical
None of Collier County’s major medical facilities are located within this market area. The
only major medical center/hospital servicing this area is the Physicians Regional Medical
Center located along Pine Ridge Road, just east of Interstate 75. This is a 201-bed facility
and is one of the county's four major medical centers. The hospital offers a 24-hour
emergency department that provides a full range of traditional emergency services. An
additional NCH emergency room facility was completed at the northeast corner of Collier
Boulevard and Immokalee Road. This is a two-story 19 room, state of the art emergency
room with additional medical space for practicing physicians. The facility was built to help
service the rural estates and all the new residential units being constructed along Collier
Boulevard and Immokalee Road. Physicians Regional is under construction on a similar
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facility at the southeast corner to serve all the new residential development along
Immokalee Road and the Golden Gates Estates community.
Health care, construction, education, retail, and management positions dominate the market
area business sector.
Industry Businesses Employees
Health Care/Social Assitance 80 2,909
Construction 458 1,884
Education 39 1,557
Retail Trade 193 1,411
Management/Administration 238 1,223
Accommodation/Food Service 85 950
Other Services 207 793
Finance/Insurance/Real Estate 208 631
Manufacturing 25 617
Wholesale Trade 59 586
Services 154 561
Professional/Scientific/Tech 154 561
Public Administration 32 451
Arts/Entertainment/Recreation 39 395
Transportation 71 316
Agriculture/Mining 8 275
Information 15 59
Utility 2 14
Unclassified Establishments 43 8
U.S. Census Bureau, Census 2010 Summary File 1. Ersi forecasts for 2020 and 2025
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MARKET AREA LIFE CYCLE
Market areas often pass through a four-stage life cycle of growth, stability, decline, and
revitalization.
• Growth – A period during which the market area gains public favor and acceptance.
• Stability – A period of equilibrium without marked gains or losses
• Decline – A period of diminishing demand
• Revitalization – A period of renewal, redevelopment, modernization and increasing
demand.
Most the real estate activity in Golden Gate reflects the growth cycle. The residential and
commercial markets continue to be strong. The growth cycle is expected to continue into the
near future. Because of the age of the structures, the western portion and the city center are
just beginning to experience some revitalization.
CONCLUSION
This continues to be one of the most affordable market areas in Collier County. The houses
within the city center provide entry level housing and the rural area satisfies the desire for
larger lot sizes and rural lifestyle. A well-designed road network provides easy access to
jobs serving the coastal community; coastal beaches and water activities; entertainment
endeavors; and commercial and medical services. This area appeals to a cross section of the
population but primarily to working class families. Development continues to push north
and east where vacant lots still exist. Golden Gate will likely continue to enjoy a healthy
growth while maintaining its affordability.
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PROPERTY INFORMATION
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SITE DESCRIPTION
Legal Description The West 75 feet of Tract 98, Golden Gate Estates, Unit 92, a
Subdivision according to the plat thereof as recorded in Plat
Book 5, Page 31, of the Public Records of Collier County,
Florida.
Property ID# 41618160003
Owner of Record Charles Edwin Bailey, Jr.
Size The size of the parcel is based on the legal description
obtained for the most recent warranty deed and plat maps.
1.14 gross acres or 49,500 square feet
Easements The parcel is encumbered by a 30-foot-wide road right-of-
way easement along the southern boundary for 40th Avenue
SE. These are perpetual, non-exclusive, road right-of way,
drainage, and utility easements which preclude most all
practical uses by the owner, but the areas within the
easements can be utilized for density calculations. Such
easements are typical of the area.
Shape Rectangular
75’x660’
Frontage 75 feet along the north side of 40th Avenue SE.
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Access The subject is provided both physical and legal access from
40th Avenue SE. 40th Avenue SE is a 2-lane asphalt paved
and limerock/gravel road extending east/west on either side
of Desoto Boulevard S. The asphalt pavement ends
approximately 125 feet east of the subject property.
Topography Based on my physical inspection, the property is generally
level and at or slightly below road grade.
Ground Cover The property is covered in native vegetation. I was
provided with a Conservation Collier Initial Screening
Report conducted on various parcels surrounding the Dr.
Robert H. Gore III Preserve and dated October 11, 2021.
The FLUCCS map indicates the presence of Cypress and
mixed shrubs, which are considered wetlands. My
observations included Cypress, cabbage palms, Slash Pines,
and Brazilian Pepper. The Cypress indicates that surface
water is present for at least a portion of the year.
Utilities Electricity, telephone and TV cable are available. The
property is serviced by well and septic.
Surrounding Land Uses The subject is surrounded to the north, south, east, and
west by vacant residential land.
Site Improvements None
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SUBJECT PHOTOGRAPHS
View to west along 40th Avenue SE.
(Photo Taken June 7, 2022)
View to the east along 40th Avenue SE.
(Photo Taken June 7, 2022)
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View to the north into the subject property.
(Photo Taken June 7, 2022)
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ENVIRONMENTAL CONTAMINATION
Observed Contamination None
Noted Concerns None
Environmental Assessment
Available
No
Impact on Value None
Disclaimer Unless otherwise stated in this report, the existence
of hazardous substances or environmental
conditions including but not limited to asbestos,
polychlorinated biphenyls, petroleum leakage,
agricultural chemicals, urea formaldehyde
insulation, lead paint, toxic mold, et cetera, which
might or might not be present in or on the property
were not called to the attention of the appraiser.
Such tests were not in the appraiser's required
scope of work, the appraiser is not qualified to test
for such substances and conditions and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any such conditions that might exist,
or for the knowledge and expertise required to
discover them.
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NATURAL RESOURCE CONCERNS
Condition of Subject The property is in its native state and has never
been cleared. I was provided with a Conservation
Collier Initial Screening Report conducted on
various parcels surrounding the Dr. Robert H. Gore
III Preserve and dated October 11, 2021.
The FLUCCS map indicates the presence of Cypress
and mixed shrubs, which are considered wetlands.
My observations included Cypress, cabbage palms,
Slash Pines, and Brazilian Pepper. The Cypress
indicates that surface water is present for at least a
portion of the year.
All plant and animal communities are of interest
and concern. To a greater or lesser degree
depending on the species and the quality of habitat
they occupy, plants and animals inhabiting the
property will invoke some level of scrutiny and will
result in some cost during the permitting process.
Natural Resource Audits Available No
Impact on Value N/A
Disclaimer
Specialized natural resource audits were not in the
appraiser’s required scope of work, the appraiser is
not qualified to conduct such audits and the
appraiser is not qualified to render professional
opinions in this specialty area. No responsibility is
assumed for any extraordinary natural resource
concerns, or for the knowledge and expertise
required to discover them.
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FUTURE LAND USE
Ordinance or Plan Collier County Growth Management Plan (GMP)
Golden Gate Area Master Plan (GGAMP)
Future Land Use Designation Residential Estates Subdistrict
Purpose of Designation The property has a future land use designation of
Estates. The Estates designation is characterized by
low density semi-rural residential lots with limited
opportunities for other land uses. Residential
density is limited to a maximum density of one unit
per 2.25 gross acres.
Under the Estates future land use designation there
is no provision for a conditional use and therefore a
conditional use approval requires an amendment to
the GGAMP.
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ZONING
Ordinance or Land Development
Code
Collier County
Zoning E – Estates
Purpose or Intent of Zoning The subject is zoned “E” – Estates District. The
purpose and intent of the Estates district is to
provide lands for low density residential
development in a semi-rural to rural environment.
In addition, several conditional uses including
churches, social and fraternal organizations, child
care centers, private schools, and group care
facilities are available under conditional use
provisions. Permitted uses include single-family
dwellings and Family Care Facilities, and public
schools. Conditional uses permissible in the Estates
district include churches and other places of
worship, social and fraternal organizations, child
and adult care centers, schools and group care
facilities. These conditional uses are strictly
regulated.
Below are the development requirements as set
forth in the Estate Zoning District:
Minimum Lot Area: 98,010 square feet
or 2.25 acres
Minimum Lot Width: 150 feet
Minimum Front Yard Setback: 75 feet minimum
Minimum Side Yard Setback: 30 feet
Minimum Rear Yard Setback: 75 feet
Maximum Building Height: 30 feet
The subject property does not meet all the
minimum requirements for Estates zoning and
therefore is a legally nonconforming lot.
Nonconforming corner lots of record, in which only
one full depth setback shall be required along the
shorter lot line along the street. The setback along
the longer lot line may be reduced to 15 feet, so
long as no right-of-way or right-of-way easement is
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included within the reduced front yard.
Nonconforming lots of record, which are
nonconforming due to inadequate lot width, in
which case the required side yard shall be
computed at the rate of ten (10) percent of the
width of the lot.
Copies of pertinent sections of the Comprehensive Plan and Land Development Code are
included in my workfile.
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ASSESSMENT AND TAXES
By statute, real estate in Florida is assessed at 100% of fair market value as of January 1st
of the tax year. Since annual tax assessments are based on sales from previous years,
depending upon market trends, assessed values can fall on either side of the current
market value estimate. The tax assessment is usually not a reliable indicator of market
value.
Parcel Tax ID 41618160003
Assessment and Tax Year 2021
Land Assessment $10,545
Improvement Assessment $0
Total Assessment $10,545
10% CAP ($2,657)
AG Exemption ($0)
Taxable Value $7,888
Ad Valorem Taxes $103.06
Non- Ad Valorem Taxes $0
Total Taxes $103.06
Taxing Authority/Jurisdiction Collier County
As of the appraisal effective date the 2021 taxes have been paid.
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FLOOD ZONE DATA
Flood Zone AH
Flood Zone Comments Zone AH – Areas of 1% annual-chance
shallow flooding with a constant water-
surface elevation (usually areas of ponding)
where average depths are between 1 and 3
feet. Base flood elevations determined.
Community Panel Number 12021C0445H
Revised May 16, 2012
Source National Flood Insurance Program
Flood Insurance Rate Maps
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TRANSACTIONAL HISTORY
Sales History There have been no transactions or transfers
of ownership in the previous three years.
CURRENT STATUS
Subject Listed for Sale/Under Contract To my knowledge, the subject is not currently
listed for sale or under contract.
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HIGHEST AND BEST USE
DEFINITION
The Dictionary of Real Estate Appraisal, 7th Edition, published 2022 by the Appraisal
Institute, defines Highest and Best Use as:
The reasonably probable use of property that results in the highest value. The four criteria that the
highest and best use must meet are legal permissibility, physical possibility, financial feasibility,
and maximum productivity.
METHOD
There are four criteria that must be met in order for a use to be the highest and best use for a
given property. The highest and best use must be:
• Legally permissible.
• Physically Possible.
• Financially feasible.
• Maximally productive.
Ordinarily these criteria are considered sequentially, each step narrowing the range of
alternative uses being considered.
ANALYSIS
SITE AS THOUGH VACANT
Legally Permissible: The zoning ordinance and Growth Management Plan are consistent
in identifying the property for residential uses. The subject is one of the smaller lots in
Golden Gate Estates. The site does not meet the current minimum lot requirements and
therefore it is a legal, non-conforming lot, "grandfathered" or vested for inconsistencies
with current zoning codes. Because it was created prior to the adoption of the Land
Development Code, it can legally be developed with a single-family residence.
Physically Possible: The site is level and slightly below road grade and could be
developed as a single-family home site. The location, surrounding land uses, and the size
of the property suggest some type of single-family use.
Financially Feasible: The financial feasibility of single-family residential development is
good. The single-family residential market continues to be strong, especially new
construction. Single-family residential development is financially feasible.
Maximally Productive: The maximally productive use is that it be developed with a
single-family residence.
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CONSIDERATION OF APPROACHES
Only the sales comparison approach is appropriate for this vacant parcel.
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SALES COMPARISON APPROACH
INTRODUCTION
In the sales comparison approach, the subject property is compared with similar properties
that have sold recently or for which listing prices or offering prices are known. Data from
generally similar properties is used, and comparisons are made to demonstrate a probable
price at which the subject property would sell if offered on the market. This approach is
particularly strong when comparable sales data is plentiful and there is good conformity
among properties in the neighborhood.
Following is the procedure to be followed in developing this approach:
1. Research the market to gather information on sales, listings, and offers to purchase
properties similar to the subject.
2. Verify the information as to factual accuracy and arm's-length market considerations.
3. Identify relevant units of comparison and develop a comparative analysis for each
unit.
4. Compare the subject with comparable sale properties using elements of comparison
and adjust the sale price of each comparable appropriately.
5. Reconcile the various value indicators produced from the analysis of comparables into
a single value indication or a range of values.
The outline above is developed in detail on the following pages.
SALES DATA
A search was made for sales comparable to the subject. The intention was to find
comparable sales in similar locations that offer similar functional utility. Five closed sales
were identified as the best available for analysis.
The sales were analyzed on the basis of dollars per gross acre of land area. This unit value
is commonly employed by the local real estate market and it lends itself well to the analysis.
Comparable land sales data is given on the following pages. Each comparable is identified
by a number which will be used for reference throughout the report. Each comparable is
identified on the location map immediately following this page.
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LOCATION MAP OF SUBJECT AND VACANT LAND COMPARABLES
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VACANT LAND COMPARABLE 1
ADDRESS 4694 36th Avenue SE, Naples, FL 34117
PROPERTY ID NO. 41507920008
SALE PRICE $22,200
UNIT AREA 1.14 acres
UNIT PRICE $19,474 per acre
DATE OF RECORDING January 13, 2022
O.R. BOOK-PAGE 6071/3745
CONTRACT DATE Unknown
GRANTOR Andrea Ellis
GRANTEE PW Cleaning and Pressure Washing, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
The East 75 feet of Tract 85, Golden Gate Estates Unit No. 91, according to the map or plat thereof as recorded in Plat Book 5, Page 30,
Public Records of Collier County, Florida.
VERIFICATION
Verified through Public Records. The lot was listed for $27,000, but the listing was terminated December 6, 2021. According to the listing
the property has 1.10 acres of wetlands.
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VACANT LAND COMPARABLE 2
ADDRESS 38th Avenue SE, Naples, FL 34117
PROPERTY ID NO. 41619280005
SALE PRICE $26,000
UNIT AREA 1.14 acres
UNIT PRICE $22,807 per acre
DATE OF RECORDING September 13, 2021
O.R. BOOK-PAGE 6012/3033
CONTRACT DATE August 25, 2022
GRANTOR Roberto Pardey
GRANTEE Rey Garcia
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
The East 75 feet of the West 150 feet of Tract 111, Golden Gate Estates Unit No. 92, according to the map or plat thereof as recorded in Plat
Book 5, Page 31, Public Records of Collier County, Florida.
VERIFICATION
Verified through Public Records. The property was listed for $30,000 and was on the market 384 days.
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VACANT LAND COMPARABLE 3
ADDRESS 3890 Desoto Boulevard S., Naples, FL 34117
PROPERTY ID NO. 41506840008
SALE PRICE $30,000
UNIT AREA 1.64 acres
UNIT PRICE $18,293 per acre
DATE OF RECORDING August 09, 2021
O.R. BOOK-PAGE 5996/1038
CONTRACT DATE June 27, 2021
GRANTOR Juan Carlos Perez
GRANTEE Alejandro and Rosa Maria Vargas
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
The South 105 feet of Tract 76, Golden Gate Estates Unit No. 91, according to the map or plat thereof as recorded in Plat Book 5, Page 30,
Public Records of Collier County, Florida.
VERIFICATION
Verified through Public Records. The property was listed for $30,000 and was on the market 46 days before it went under contract.
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VACANT LAND COMPARABLE 4
ADDRESS 38th Avenue SE, Naples, FL 34117
PROPERTY ID NO. 41508760005
SALE PRICE $31,900
UNIT AREA 1.59 acres
UNIT PRICE $20,063 per acre
DATE OF RECORDING October 12, 2021
O.R. BOOK-PAGE 6027/3549
CONTRACT DATE August 21, 2021
GRANTOR Norman Lee Fleet
GRANTEE Martin and Angela Rosario
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
The East 150 feet of Tract 93, Golden Gate Estates Unit No. 91, according to the map or plat thereof as recorded in Plat Book 5, Page 30,
Public Records of Collier County, Florida.
VERIFICATION
Verified through Public Records. The property was listed for $31,900 and was on the market 215 days.
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VACANT LAND COMPARABLE 5
ADDRESS 40th Avenue SE, Naples, FL 34117
PROPERTY ID NO. 41509080001
SALE PRICE $22,000
UNIT AREA 1.14 acres
UNIT PRICE $19,298 per acre
DATE OF RECORDING May 07, 2021
O.R. BOOK-PAGE 5948/1995
CONTRACT DATE April 22, 2021
GRANTOR Gustavo Suarez
GRANTEE Lirun RS, LLC
FINANCING Cash to seller
TOPO-ELEVATION Level and at road grade
GROUND COVER Native Vegetation
LAND USE DESIGNATION Residential Estates Subdistrict
ZONING E - Estates
IMPROVEMENTS None
UTILITIES Well & Septic
PRIOR SALES No sales in the previous three years.
LEGAL DESCRIPTION
The East 75 feet of the East 150 feet of Tract 97, Golden Gate Estates Unit No. 91, according to the map or plat thereof as recorded in Plat
Book 5, Page 30, Public Records of Collier County, Florida.
VERIFICATION
Verified through Public Records. The property was listed for $24,900 and was on the market 206 days.
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LAND SALES ADJUSTMENT GRID
ITEM SUBJECT COMP #4 COMP #2 COMP #3 COMP #4 COMP #5
PROPERTY IDENTIFICATION 40th Ave. SE 4694 36th 38th Avenue 3890 Desoto 38th Avenue 40th Avenue
(Bailey)Avenue SE SE Blvd. S.SE SE
SALE PRICE N/A $22,200 $26,000 $30,000 $31,900 $22,000
REAL PROPERTY RIGHTS N/A Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
0 0 0 0 0
CONDITIONS OF SALE Market Market Market Market Market Market
0 0 0 0 0
BUILDING IMPROVEMENTS None None None None None None
0 0 0 0 0
FINANCING Cash or Cash to seller Cash to seller Cash to seller Cash to seller Cash to seller
Equivalent 0 0 0 0 0
ADJUSTED SALE PRICE N/A $22,200 $26,000 $30,000 $31,900 $22,000
Recording Date N/A 01/13/22 09/13/21 08/09/21 10/12/21 05/07/21
Months Prior To Effective Date 06/07/22 4.77 8.78 9.93 7.82 13.02
MARKET CHANGE ADJUSTMENT N/A 11.9%21.9%24.8%19.6%32.5%
ADJUSTED SALE PRICE N/A $24,845 $31,705 $37,446 $38,139 $29,160
Parcel Area in Gross Acres 1.14 1.14 1.14 1.64 1.59 1.14
PRICE PER ACRE ?$21,794 $27,812 $22,833 $23,987 $25,579
LOCATION
ADDRESS 40th Ave. SE 36th Ave. SE 38th Ave. SE Desoto Blvd.38th Ave. SE 40th Ave. SE
CORNER LOT No No No No No No
PAVED ROAD No Yes Yes Yes Yes No
OVERALL LOCATION Average Superior Superior Superior Superior Similar
-10%-10%-10%-10%0%
UTILITIES Well & Septic Similar Similar Similar Similar Similar
0%0%0%0%0%
COMP. PLAN Estates Estates Estates Estates Estates Estates
ZONING E - Estates E - Estates E - Estates E - Estates E - Estates E - Estates
0%0%0%0%0%
SIZE IN ACRES 1.14 1.14 1.14 1.64 1.59 1.14
SHAPE/CONFIGURATION Rectangular Similar Similar Similar Similar Similar
0%0%0%0%0%
PHYSICAL CHARACTERISTICS Native Veg.Similar Similar Similar Similar Similar
WETLANDS Yes Similar Similar Similar Similar Similar
0%0%0%0%0%
GROSS ADJUSTMENT N/A 10%10%10%10%0%
INDICATION OF UNIT VALUE ?$19,615 $25,030 $20,550 $21,588 $25,579
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DISCUSSION OF ADJUSTMENTS
Usually, comparable sale properties are not exactly like the subject property. If a typical
buyer would perceive the difference to be significant, then adjustment(s) must be made to
the comparable sales so that in the end each offers a realistic indication of value for the
subject. Adjusting comparable sales is a two-step process.
First, adjustments are made so that all of the comparable sales meet the standard of a
“market” transaction as outlined in the definition of market value. Customarily, the first
group of adjustments is made before the comparables are reduced to a common unit of
comparison. Included at this stage are adjustments to bring historic sales current to the
appraisal effective date.
The second group of adjustments is made after an appropriate unit of comparison is chosen.
These adjustments account for physical differences like location, physical characteristics and
size. Sometimes adjustment is required for differences in the permitted land use (zoning) or
in the availability of public service (infrastructure). When the adjustment process is
complete, the unit value indications are reconciled and converted into an estimate of value
for the subject.
REAL PROPERTY RIGHTS CONVEYED
This adjustment category is intended to account for the interest, benefits, and rights
inherent in the ownership of real estate. This category reflects the impact on value caused
by the fee simple versus the leased fee interest or the contract rent as opposed to market
rent.
• None of the comparable sales required adjustment in this category.
CONDITIONS OF SALE
This adjustment category is intended to account for a variety of factors that might affect
the purchase price.
• None of the comparable sales required adjustment in this category.
BUILDING IMPROVEMENTS
This category of adjustment is intended to account for the positive or negative contribution
to value of building improvements included with the sale of the land. Buildings that made
a positive contribution to the sale price require a negative adjustment. Buildings that were
demolished and removed require a positive adjustment to account for demolition costs
which are treated as part of the purchase price.
• None of the comparable sales required adjustment in this category.
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FINANCING
Adjustments in this category are intended to account for unusual terms of financing that
are not considered equivalent to cash or conventional financing.
• None of the comparable sales required adjustment in this category.
MARKET CHANGE
This adjustment is intended to account for changes in value due to the ebb and flow of
market forces over time.
Land values in the Golden Gate Estates market are appreciating due to the demand for
affordable residential land. The buyers include a mix of individuals who plan to build a
home, investors, and speculative home builders. Sales are presented below that have sold
and resold in the Golden Gate Estates sub-market. The most recent sales indicate the
highest change rates, but due to rising interest rates and inflation, it is too early to tell if
these change rates will continue.
The sales utilized in the report range from less than 5 months to 13 months old. Based on
the wide range of market change rates and age of the Comparable sales, I applied a market
change rate of 2.50% per month or 30.00% annually.
LOCATION/ACCESS/EXPOSURE
This category of adjustment reflects the impact on value caused by the advantages or
disadvantages of a given location.
Address Parcel ID#Prior Sale Recent Sale Months Prior Sale Price Recent Sale Price Appreciation Monthly Change
2740 Desoto Blvd S 41446480007 01/24/22 04/21/22 2.86 $100,500 $110,000 9.45%3.31%
34th Ave SE 41718800001 02/18/21 04/11/22 13.71 $40,000 $90,000 125.00%9.12%
2933 40th Ave SE 41715120001 09/27/21 04/08/22 6.34 $45,000 $65,000 44.44%7.01%
3561 36th Ave SE 41613080007 06/11/21 04/07/22 9.86 $65,000 $95,000 46.15%4.68%
4659 22nd Ave SE 411167800005 11/05/18 04/06/22 41.03 $37,000 $100,000 170.27%4.15%
24th Ave SE 41280920008 09/25/20 03/15/22 17.62 $109,000 $145,000 33.03%1.87%
18th Ave SE 41171260000 02/26/21 03/11/22 12.43 $73,500 $135,000 83.67%6.73%
34th Ave SE 41711640006 04/19/21 02/14/22 9.89 $79,000 $99,000 25.32%2.56%
3672 32nd Ave SE 413955600007 04/22/21 02/03/22 9.43 $70,000 $105,000 50.00%5.30%
Desoto Blvd S 41167280007 08/24/20 11/22/21 14.96 $52,000 $110,000 111.54%7.46%
3230 Desoto Blvd S 41447440004 08/17/18 08/20/21 36.13 $15,000 $33,000 120.00%3.32%
4629 10th Ave SE 411105840001 05/29/19 06/22/21 24.82 $45,000 $80,000 77.78%3.13%
4765 28th Ave SE 41449840000 05/13/16 06/11/21 60.98 $24,900 $49,900 100.40%1.65%
411 24th Ave NE 37745280006 01/03/20 03/09/21 14.17 $93,000 $135,000 45.16%3.19%
24th Ave SE 41168880008 06/10/20 02/05/21 7.89 $28,500 $36,000 26.32%3.34%
4917 22nd Ave SE 41171480000 04/06/20 01/07/21 9.07 $45,000 $56,000 24.44%2.69%
AVG 4.34%
MEDIAN 3.33%
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• Comparables 1, 2, 3, and 4 are located along paved roads. The comparables were
adjusted downward 10% for their superior locations.
UTILITIES/INFRASTRUCTURE
This category of adjustment references the availability and adequacy of the road system,
the public was distribution system and the public wastewater collection system of each
comparable property as that compares with the same services available to the subject
property.
• None of the comparable sales required adjustment in this category.
COMPREHENSIVE PLAN/LAND USE
This category of adjustment accounts for differences in the potential land uses
(Comprehensive Plan) or in the specific uses (Zoning) to which a property could be
developed. Differences in value between the subject property and comparable sales might
exist because their highest and best uses are different as a result of government regulation
through zoning and land use controls.
• None of the comparable sales required adjustment in this category.
SIZE/SHAPE
This category of adjustment addresses the effect on the marketability of a given property,
because its physical size/shape might limit the physical utility, or because the size and
term of the financial investment required of an investor/speculator is such that the unit
price is reduced.
• None of the comparable sales required adjustment in this category.
PHYSICAL CHARACTERISTICS
This category of adjustment reflects the physical aspects of a property that impact its use
for development. Physical characteristics included land elevation, soil conditions,
drainage characteristics, threatened or endangered plant and animal species on the
property and the extent and density of covering vegetation.
• The Conservation Collier Initial Screening Report indicates that the property is in its
native state and has potential wetlands. Without informal jurisdictional wetlands
report, the quality of the wetlands is unknown. The higher the quality of the wetlands,
the higher the mitigation costs. It should be noted that the costs for mitigation credits
are currently approximately $175,000 per credit.
• I analyzed aerials, reviewed the listing history, and interviewed brokers, buyers and
sellers to determine the wetlands associated with the Comparable sales. Based on the
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information obtained, I have assumed all of the comparables have some amount of
wetlands and therefore none of the comparable sales required adjustment in this
category.
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RECAPITULATION OF DATA
After making the adjustments discussed above, the comparable sales indicated the
following unit values:
Comparables Price Per Gross Acre
of Land Area
1 $19,615
2 $25,030
3 $20,550
4 $21,588
5 $25,579
RECONCILIATION OF DATA
To arrive at a conclusion regarding the value of the subject site, the comparable sales and
their indications of value should be weighted according to the quality of each as a value
indicator.
Comparable 1 is the most recent sale which increases its strength as an indicator.
Comparable 1 was weighted 25%.
Comparables 2, 3, and 4 are all good indicators of value and were weighted 20% each.
Comparable 5 is the oldest sale and was weighted 15%.
The range of unit value indications is from $19,615 to $25,579 per acre. The arithmetic mean
of the closed sales is $22,472 per acre and the median is $21,588 per acre. The weighting
process discussed above reflects a unit value of $22,174 per acre.
Based on the range of values and the upward trend of the residential real estate market, I
concluded to a unit value of $22,200 per gross acre.
ESTIMATE OF VALUE
$22,200 per gross acre results in an indication of value for the subject as of June 7, 2022 of
$25,308 (1.14 gross acres x $22,200 per acre) which rounds to $25,000.
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CARROLL & CARROLL
Timothy W. Sunyog, MAI
Cert Gen RZ3288
6053E Report Addenda
Carroll & Carroll
ADDENDA
(In Order of Appearance)
Page Topic Count Page(s) Page(s)
Assumptions and Limiting Conditions............................................................................ 2
Qualifications of Appraiser................................................................................................. 2
6053E Report Addenda
Carroll & Carroll
ASSUMPTIONS AND LIMITING CONDITIONS
The certification of the appraiser appearing in this report is subject to the following
assumptions and limiting conditions.
ACCEPTANCE OF AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES
ACCEPTANCE OF ALL GENERAL AND EXTRAORDINARY ASSUMPTIONS AND
LIMITING CONDITIONS.
EXTRAORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
None
HYPOTHETICAL CONDITIONS
None
GENERAL ASSUMPTIONS AND LIMITING CONDITIONS
1. No responsibility is assumed for the legal description or for matters including legal or title
considerations. Title to the property is assumed to be good and marketable.
2. The property is appraised free and clear of liens and encumbrances.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others is assumed to be true, correct and reliable. A
reasonable effort was made to verify such information, but the appraiser bears no
responsibility for its accuracy.
5. All engineering is assumed to be correct. The plot plans and illustrative material is
included only to assist the reader in visualizing the property.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or
structures that render it more or less valuable. No responsibility is assumed for such
conditions or for arranging for engineering studies that might be required to discover
them.
7. It is assumed that there is full compliance with all applicable federal, state, and local
environmental regulations and laws.
6053E Report Addenda
Carroll & Carroll
8. It is assumed that the property is either in compliance with, or is "grandfathered" or
"vested" under, all applicable zoning, use regulations and restrictions.
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or
private entity or organization have been, or can be, obtained or renewed for any use on
which the value estimate is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described, and that there is no encroachment or trespass.
11. It is assumed that the subject site and improvements are not contaminated by any
hazardous material or toxic substance. During the property inspection we were sensitive
to obvious signs of contamination and we reported anything unusual. However, we are
not qualified to render professional opinions regarding the existence or the nature of
hazardous materials in or on the subject property. If a definitive opinion is desired, then
the client is urged to retain an expert in the field.
12. The distribution of the total value in this report, between land and improvements, applies
only under the stated program of utilization. The separate allocations for land and
buildings must not be used in conjunction with any other appraisal and are invalid if so
used.
13. Possession of this report, or a copy thereof, does not carry with it the right of publication.
14. Unless previous arrangements were made, the appraisers, by reason of this appraisal, are
not required to give further consultation, testimony, or to be in attendance in court.
6053E Report Addenda
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6053E Report Addenda
Carroll & Carroll