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Agenda 01/09/2024 Item #16B 2 (Agreement for Purchase of a drainage easement)16.B.2 01 /09/2024 EXECUTIVE SUMMARY Recommendation to approve an Agreement for the purchase of a drainage easement (Parcel 149DE) required for the West Goodlette-Frank Road Area Stormwater Improvement Project Phase 2; and authorize the necessary Budget Amendment. (Project No. 60142). (Estimated Fiscal Impact: $44,400.) OBJECTIVE: To acquire a drainage easement needed for the West Goodlette-Frank Road Area Stormwater Improvement Project Phase 2 (the "Project"), which will provide a central collection system, upgrade the potable water infrastructure in the area, and provide stormwater drainage improvements. CONSIDERATIONS: Collier County is seeking to purchase a perpetual non-exclusive drainage easement (Parcel 149DE) needed for the Project. The improved parent tract is located along the north side of Sperling Lane and is owned by Daniel G. Riley, as Trustee of the Daniel G. Riley Revocable Living Trust U/A/D January 23, 2016. Parcel 149DE is 7,548 square feet in extent, is polygon in shape, and is located on the north side of the parent tract. The attached appraisal report prepared by RKL Appraisal and Consulting, dated February 8, 2023, estimates the value of Parcel 149DE to be $43,800. The attached Purchase and Sale Agreement provides for payment of its appraised value for conveyance of the parcel. Staff accordingly recommends that the Board of County Commissioners (the "Board") approve the Agreement. This item is consistent with the Collier County strategic plan objective to design and maintain an effective stormwater management system. FISCAL IMPACT: A budget amendment in the amount of $880,050 is required to reallocate funds within Stormwater CIP fund (3050) to cover the negotiated compensation amount of $43,800, estimated miscellaneous closing and recording fees not to exceed the amount of $600, and future drainage easement purchases in accordance with Resolution 2023-82. No maintenance costs are anticipated until such time as the Project is constructed. GROWTH MANAGEMENT IMPACT: This Project is in accordance with the goals, objectives, and policies of all applicable sections of the Stormwater Management Sub -element and the Conservation and Coastal Management Elements of the Growth Management Plan. LEGAL CONSIDERATIONS: This item has been approved as to form and legality and requires a majority vote for Board approval. -DDP RECOMMENDATION: Approve the attached Agreement and authorize the Chairman to execute same on behalf of the Board; Accept the conveyance of Parcel 149DE and authorize the County Manager, or her designee, to record the conveyance instrument in the public records of Collier County, Florida; Authorize the payment of all costs and expenses that Collier County is required to pay under the terms of the Agreement to close the transaction; Authorize the County Manager or her designee to take the necessary measures to ensure the County's performance in accordance with the terms and conditions of the Agreement; and Authorize the necessary Budget Amendment. Prepared By: Ronald Thomas, Property Acquisition Specialist I, Right of Way Acquisition, Transportation Engineering Division. Packet Pg. 617 16.B.2 01 /09/2024 ATTACHMENT(S) 1. Aerial Exhibit 149DE (PDF) 2. Agreement 149DE (PDF) 3. [LINKED] Appraisal 149DE (PDF) Packet Pg. 618 16.B.2 01/09/2024 COLLIER COUNTY Board of County Commissioners Item Number: 16.13.2 Doc ID: 27315 Item Summary: Recommendation to approve an Agreement for the purchase of a drainage easement (Parcel 149DE) required for the West Goodlette-Frank Road Area Stormwater Improvement Project Phase 2; and authorize the necessary Budget Amendment. (Project No. 60142). (Estimated Fiscal Impact: $44,400.) Meeting Date: 01/09/2024 Prepared by: Title: Property Aquisition Specialist I Transportation Engineering Name: Ronald Thomas 11/27/2023 11:25 AM Submitted by: Title: Division Director - Transportation Eng — Transportation Engineering Name: Jay Ahmad 11/27/2023 11:25 AM Approved By: Review: Transportation Engineering Robert Bosch Additional Reviewer Transportation Management Services Department Jeanne Marcella Department Road Maintenance Marshal Miller Additional Reviewer Capital Project Planning, Impact Fees, and Program Management Mark Zordan Transportation Management Operations Support Tara Castillo Unknown Lisa Taylor Additional Reviewer Transportation Engineering Jay Ahmad Additional Reviewer Road Maintenance Ellen Sheffey Additional Reviewer Capital Project Planning, Impact Fees, and Program Management Beth Johnssen Transportation Management Services Department Trinity Scott County Attorney's Office Office of Management and Budget Community & Human Services County Attorney's Office County Manager's Office Board of County Commissioners Derek D. Perry Level 2 Attorney Review Debra Windsor Level 3 OMB Gatekeeper Review Maggie Lopez Additional Reviewer Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Amy Patterson Level 4 County Manager Review Geoffrey Willig Meeting Pending Completed 11/27/2023 11:58 AM Transportation Management Services Completed 11/27/2023 1:36 PM Completed 11/27/2023 2:24 PM Additional Reviewer Completed 11/27/2023 2:59 PM Additional Reviewer Completed 11/27/2023 3:28 PM Completed 11/28/2023 1:26 PM Completed 11/28/2023 2:55 PM Completed 11/29/2023 12:34 PM Additional Reviewer Completed 12/01/2023 2:22 PM Transportation Completed 12/12/2023 11:19 AM Completed 12/19/2023 8:22 AM Completed 12/19/2023 8:34 AM Completed 12/20/2023 9:55 AM Completed 12/26/2023 9:07 AM Completed 12/26/2023 11:19 AM 01/09/2024 9:00 AM Packet Pg. 619 16.B.2.a AERIAL - PARCEL 149DE West Goodlette-Frank Stormwater Project No. 60142 Packet Pg. 620 16.B.2.b PROJECT: 60142 — W Goodlette-Frank Road SIP (Ph 2) PARCEL: 149DE FOLIO: 61945480009 PURCHASE AND SALE AGREEMENT (Perpetual, Non -Exclusive Drainage Easement) THIS PURCHASE AND SALE AGREEMENT ("Agreement") is entered into this day of , 2023, DANIEL G. RILEY, Trustee of the Daniel G. Riley Revocable Living Trust U/A/D January 23, 2016, whose mailing address is 1377 Sperling Lane, Naples, FL 34103 ("Seller"), and COLLIER COUNTY, a political subdivision of the State of Florida, whose mailing address is 3299 Tamiami Trail East, c/o County Attorney's Office, Suite 800, Naples, FL 34112 (the "County"). Recitals: A. Seller owns certain real property in Collier County, Florida, commonly known as 1377 Sperling Lane, Naples, FL 34103. B. The County desires to purchase a perpetual, non-exclusive drainage easement (the "Easement") over, under, upon and across a portion of Seller's property as described in Exhibit "A" attached hereto (the "Property"). NOW THEREFORE, the parties agree as follows: 1. AGREEMENT TO SELL AND PURCHASE. Seller hereby agrees to sell, and the County hereby agrees to purchase the Easement on the terms and conditions set forth in this Agreement. 2. COMPENSATION. A. Amount. The compensation payable by the County for the Easement shall be $43,800 subject to w prorations, apportionments, and distribution of sales proceeds provided for in this Agreement. No portion of the CD compensation is attributable to personal property. B. Full Compensation. The payment of the net sales proceeds to Seller, payable by County check at Closing (defined below), shall be (i) full compensation for the Easement, including, without limitation, all improvements located on the Property as of the date of this Agreement; and (ii) full and final settlement of all other damages and expenses suffered or incurred by Seller in connection with Seller's conveyance of the Easement to a the County, whether foreseen or unforeseen, including, without limitation, and to the extent applicable, moving expenses, attorneys' fees, expert witness fees and costs as provided for in Chapter 73, Florida Statutes. m E 3. PUBLIC DISCLOSURE. If Seller holds title to the Property in the form of a partnership, limited partnership, corporation, trust, or any form of representative capacity whatsoever for others, Seller shall, before the Q full execution of this Agreement, make a written public disclosure, according to Section 286.23, Florida Statutes, under oath, subject to the penalties prescribed for perjury, of the name and address of every person having a beneficial interest in the Property before the Easement is conveyed to the County. The foregoing notwithstanding, (i) if Seller is a corporation 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 exempt from the provisions of Section 286.23, Florida Statutes, and (ii) the names and addresses of persons or entities holding less than 5 percent of the beneficial interest in the disclosing entity are not required to be disclosed. 4. PURPOSE OF EASEMENT. The Easement shall be for drainage and stormwater management purposes and includes the right to enter upon the Easement to a) construct, operate, maintain, repair, replace and remove ponds, canals, ditches, swales, earthen berms, rip -rap, retaining walls and other retaining systems, pumps, underground pipes, irrigation lines, lighting and other electrical facilities, and other types of water control structures and facilities, and b) place, excavate, use, store, plant, remove and dispose of soil, trees, landscaping, and other materials and improvements, including the removal and disposal of any and all property, real and/or personal, not owned by the County to the extent it interferes with the County's rights under the Easement, without liability to the owner of such property; all as deemed necessary or appropriate from time to time by the County. Packet Pg. 621 5. CLOSING DATE; POSSESSION. A. Closing Date. Seller's conveyance of the Easement to the County (the "Closing") shall occur within 30 days of the County's receipt of all properly executed Closing Documents (defined below). TIME IS OF THE ESSENCE. The Closing shall take place at the offices of the County's Transportation Engineering Division, 2885 Horseshoe Drive South, Naples, Florida 34104. B. No Adverse Changes; Risk of Loss. The County's obligation to close shall be contingent upon the County having determined that, between the date that the County completes its due diligence investigations and inspections under this Agreement and the Closing, there shall have been no adverse changes in the title, physical condition of the Property, or other matters previously approved by the County. Between the date of the parties' execution of this Agreement and the Closing, risk of loss shall be borne by Seller. If the Property is damaged prior to Closing, excluding damage caused by the County, Seller shall repair and restore the Property at Seller's expense. C. Possession. Seller shall remove Seller's personal items, vacate, and surrender possession of the Easement to the County at Closing. Seller shall leave the Property free of all personal property and debris and in lzl substantially the same condition as exists on the date of Seller's execution of this Agreement. The County shall have the right to inspect the Property prior to Closing. w 6. CLOSING DOCUMENTS. As soon after the parties' execution of this Agreement as is possible, Seller 0 1* shall deliver the following documents to the County, properly executed and in a form approved by the Collier County N Attorney's Office (the "Closing Documents"): `t 0 co (a) Drainage Easement instrument; "' (b) Closing Statement; (c) Affidavit of Title; N (d) Form W-9 (Request for Taxpayer Identification Number and Certification); (e) Evidence of legal authority and capacity of the individual executing this Agreement on behalf of c Seller to execute and deliver this Agreement and the Closing Documents; (f) Satisfaction, Partial Release, Termination or Subordination from the holder of each mortgage or other lien open of record encumbering the Property; c (g) Termination, Partial Release, or Subordination of any leases or rental agreements that encumber E the Property; (h) Termination or Subordination of any existing easement that encumbers the Property, if required by the County; and Q (1) Such other documents as the County or title company deems necessary or appropriate to clear title to the Easement. E Following the Closing, Seller shall execute any and all additional documents as may be requested by the County or a title company to correct clerical errors, clear title, or otherwise carry out the intent of the parties. Q 7. CLOSING COSTS AND DEDUCTIONS. A. County's Closing Costs. At Closing, the County shall pay (i) the recording fees to record the Easement instrument and any curative instruments required to clear title; and (ii) the cost of an owner's policy of title insurance if the County elects to obtain one. Additionally, the County may elect to pay reasonable costs incurred and/or processing fees required by mortgagees or other lien holders in connection with the delivery of properly executed Satisfaction, Releases, Terminations, or Subordinations of any liens open of record encumbering the Property. The County shall have sole discretion as to what constitutes "reasonable costs and/or processing fees." B. Seller's Closing Costs. At Closing, Seller shall pay (i) all state documentary stamp taxes required on the Easement instrument in accordance with Section 201.01, Florida Statutes, unless the Easement is acquired under the threat of condemnation, in which case the conveyance is exempt from state documentary stamp taxes; (ii) any apportionment and distribution of the full compensation amount provided for in this Agreement that may be required by any mortgagee, lien holder, or other encumbrance holder as payoff, paydown, or for the protection of its 2 Packet Pg. 622 16.B.2.b security interest, or as consideration due to any diminution in the value of its property right; and (iii) all taxes and assessments that are due and payable. 8. IRRIGATION SYSTEM AND MISCELLANEOUS IMPROVEMENTS. A. Relocation. Seller agrees to relocate existing irrigation, electrical, or other systems located on the Property, if any, including, but not limited to, irrigation lines, sprinkler valves, electrical wiring, etc. ("Systems"), prior to the commencement of construction, without any further notification from the County. Seller assumes full responsibility for the relocation of all Systems and their performance on the remainder property after relocation. Seller holds the County harmless for any and all possible damage to the Systems in the event Seller fails to relocate the Systems prior to the commencement of construction. B. Retention of Improvements. Seller acknowledges that the County has compensated Seller for the value of all improvements and landscaping ("Improvements") located on the Property, and yet the County is willing to permit Seller to salvage said Improvements provided same are removed from the Property prior to the commencement of construction. If Seller elects to retain any Improvements located on the Property, Seller is responsible for their removal prior to the commencement of construction, without any further notification from the County. All Improvements remaining on the Property at the time of commencement of construction shall be deemed abandoned by Seller. C. This section shall survive Closing and is not deemed satisfied by conveyance of the Easement. 9. INSPECTIONS. A. Inspections. Following the date of the parties' execution of this Agreement, the County shall have the r right, at its sole cost and expense, to conduct whatever investigations and inspections of the Property that it deems appropriate, including, without limitation, a title examination, property survey, appraisal, building inspections, LO environmental assessments, engineering studies, soil borings, determination of compliance of the Property with M applicable laws, and the like. Seller shall provide the County with reasonable access to the Property to conduct on- N site inspections. The County shall promptly repair any damage to the Property caused by such on -site inspections. w c B. County's Right to Terminate. Notwithstanding anything in this Agreement to the contrary, the County's CD obligations under this Agreement to acquire the Easement are contingent upon the County's satisfaction with the Property, including, without limitation, as revealed by the County's investigations and inspections as set forth herein. If, prior to the Closing, the County identifies any objectionable matters and determines that such objections cannot be resolved to the County's satisfaction through reasonable diligence, within a reasonable period of time, and at a reasonable cost, all as determined by the County in its sole discretion, the County shall have the right to terminate this Agreement by written notice to Seller, whereupon neither party shall thereafter have any rights or obligations a under this Agreement. The County may, but shall not be required to, provide Seller with an opportunity to rectify such objections. E r 10. SELLER'S ADDITIONAL REPRESENTATIONS AND WARRANTIES. Seller makes the following Q additional representations and warranties on the date of Seller's execution of this Agreement, and shall be deemed to have repeated same at Closing: (a) Seller is the sole owner of fee simple title to the Property and has full right, power, and authority to own and operate the Property, to execute this Agreement, and to fulfill Seller's obligations under this Agreement and the Closing Documents. (b) No tenant or other party has any right or option to acquire the Property or to occupy the Property, or, if applicable, Seller shall disclose same to the County in the applicable Closing Documents. (c) Seller's title to the Property is free and clear of all mortgages and other liens and encumbrances, except as may be disclosed in the title commitment, title report, or attorney title opinion obtained or to be obtained prior to the Closing. (d) Between the date of Seller's execution of this Agreement and the Closing, Seller shall not do anything to encumber the title to the Property, or convey the Property to a third party, or grant to any third party Packet Pg. 623 16.B.2.b any rights of any kind with respect to the Property, or do anything to change or permit to be changed the physical condition of the Property, without in each instance obtaining the County's prior written consent, which may be granted or withheld in the County's sole discretion. (e) No maintenance, construction, advertising, management, leasing, employment, service, or other contracts affecting the Property shall remain in effect following the Closing. (f) There are no governmental proceedings or investigations of any kind, formal or informal, civil or criminal, pending or threatened, that may affect the Property or adversely affect Seller's ability to perform Seller's obligations under this Agreement. (g) The Property is in compliance with all federal, state and local laws, including, without limitation, environmental laws; no unsafe levels of radon, mold, lead, or other pollutants or hazardous substances have been used, generated, stored, treated, or removed from the Property, nor is there any lawsuit, proceeding, or investigation regarding same; the Property has never been used as a landfill, and there are no underground storage tanks on the Property; there has been no spill, contamination, or violation of environmental laws pertaining to any contiguous property; and Seller has not received notice and otherwise has no knowledge of any existing or threatened environmental lien against the Property. (h) Seller has not utilized a real estate broker or agent in connection with Seller's sale of the Easement to the County and no real estate sales commission is due. R W 0 (i) None of the improvements located on the Property encroach upon adjoining properties, and no R* improvements located on adjoining properties encroach upon the Property. N 11. DEFAULT; REMEDIES. If either party fails to perform any of its obligations under this Agreement and r o fails to cure such failure within 15 days after receiving written notice thereof from the non -defaulting party, the non - defaulting party shall have the right to terminate this Agreement by giving written notice of termination to the M defaulting party; without limitation of any other rights and remedies available to the non -defaulting party at law or in N equity, including, without limitation, the right to seek specific performance, and to recover damages, including attorney fees and court costs, in connection with such default; all rights and remedies being cumulative. W 0 12. INDEMNIFICATION; WAIVER OF CLAIMS. Seller shall indemnify, defend, and hold the County an qe harmless from and against all claims and actions asserted against the County, and all damages, losses, liability, penalties, fines, costs and expenses, including, without limitation, attorney fees and court costs, suffered or incurred by the County, arising from (i) Seller's representations and warranties in this Agreement or in any of the Closing Documents if untrue; or (ii) Seller's failure to perform any of Seller's obligations under this Agreement, irrespective of whether the County delivers a written notice of default to Seller; or (iii) injuries, accidents, damage to Seller's a personal property, or other incidents occurring on the Property prior to Closing. 13. NOTICES. All notices given by either party to the other under this Agreement shall be in writing and m shall be personally delivered, or delivered by a traceable courier, or mailed by U.S. certified mail, to the parties at r their respective addresses set forth in the introductory paragraph of this Agreement, or such other address as may Q be specified by either party from time to time by written notice to the other party. Notices shall be deemed given on the date of receipt if personally delivered, or delivered by courier, or 3 days after mailing. 14. GENERAL PROVISIONS. A. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the parties and their respective heirs, executors, personal representatives, successors and permitted assigns. B. Assignment. The parties shall not assign any rights or obligations under this Agreement to a third party without the prior written consent of the other party. C. Entire Agreement. This Agreement constitutes the entire agreement of the parties as pertains to the subject matter hereof, and there are no prior or contemporaneous written or oral agreements, undertakings, promises, warranties, or covenants not contained herein. D. Amendments. All amendments to this Agreement must be in writing and signed by both parties. 4 Packet Pg. 624 E. Time Periods. If any deadline or expiration of any time period provided for hereunder falls on a Saturday, Sunday or legal holiday, such deadline or expiration shall be extended to the following business day. F. Survival. All provisions of this Agreement that are not, or by their nature cannot be, performed prior to the Closing, including, without limitation, Seller's representations, warranties, indemnity obligations, shall survive the Closing. G. Severability. If any provision of this Agreement is determined to be legally invalid or unenforceable, such provision shall be severed from this Agreement, and the remaining provisions of this Agreement shall remain in full force and effect. H. No Waiver. No party shall be deemed to have waived its right to enforce any specific provision of this Agreement unless such waiver is in writing. Any such written waiver shall be applicable only to the specific instance to which it relates and shall not be construed as a continuing waiver as to future instances or as a waiver of any other provision. I. Governing Law: Venue. This Agreement shall be governed and construed in accordance with the laws of the State of Florida. All disputes arising under this Agreement shall be brought solely in the courts in Collier County, Florida, and the parties hereby agree to said venue. IN WITNESS WHEREOF, the parties have executed this Agreement on the dates indicated below, effective as of the date this Agreement is executed by the County. i Date: , 2023 Date: 2023 ATTEST: CRYSTAL K. KINZEL, Clerk of the Circuit Court & Comptroller By Deputy Clerk Approved as to form and legality: SELLER: 11,`h DEREK D. PERRY, ESQ. \ Assistant County Attorney DANIEL . RILEY, indivi wally and as Trustee of Daniel G. Riley Revocable Living Trust U/A/D Je 23, 2016 COUNTY: BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA By: RICK LoCASTRO, Chairperson r Q Packet Pg. 625 PROPERTY DESCRIPTION A PARCEL OF LAND LYING IN OFFICIAL RECORDS BOOK 5999, PAGE 643, OF THE PUBLIC RECORDS OF COLDER COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHERLY MOST CORNER OF SAID LANDS, THENCE ALONG THE NORTHEAST UNE OF SAID LANDS SOUTH 40'l3'42' EAST, A DISTANCE OF 50.15 FEET; THENCE DEPARTING SAID NORTHEAST LINE SOUTH 5939'54" WEST, A DISTANCE OF 54.14 FEET; THENCE SOUTH 6441'16" WEST, A DISTANCE OF 22.12 FEET; THENCE SOUTH 4T41'50' WEST, A DISTANCE OF 62.35 FEET; THENCE SOUTH 2526'17' WEST, A DISTANCE OF 38.45 FEET; THENCE SOUTH 3T43'30" WEST, A DISTANCE OF 20.54 FEET; THENCE SOUTH 83'21'09" WEST, A DISTANCE OF 32.82 FEET; THENCE SOUTH 86'11'11" WEST, A DISTANCE OF 30.48 FEET TO AN INTERSECTION WITH THE NORTHWEST LINE OF SAID LANDS; THENCE ALONG SAID NORTHWEST LINE NORTH 44'22'18' EAST, A DISTANCE OF 244.65 FEET TO THE POINT OF BEGINNING. CONTAINING 7,548 SQUARE FEET, MORE OR LESS. NOTES: 1. BEARINGS SHOWN HEREON REFER TO THE STATE PLANE COORDINATE SYSTEM ESTABLISHED BY THE NATIONAL GEODETIC SURVEY FOR FLORIDA EAST ZONE, 1983 DATUM WITH 2O11 ADJUSTMENT OBTAINED USING RTK CPS OBSERVATIONS ON THE FOOT NETWORK AND ARE BASED ON THE NORTHWEST LINE OF LANDS DESCRIBED IN OFFICIAL RECORDS BOOK 5999, PAGE 643, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA, AS BEING N 44'22'18" E. 2. DIMENSIONS SHOWN HEREON ARE IN U.S. SURVEY FEET AND DECIMALS THEREOF. 3. THIS SKETCH AND DESCRIPTION IS NOT VAUD WITHOUT THE ORIGINAL SIGNATURE AND SEAL OR THE DIGRAL SIGNATURE AND DIGITAL SEAL OF A LICENSED FLORIDA SURVEYOR AND MAPPER. NO ADDITIONS OR DELETIONS TO THIS SKETCH & DESCRIPTION MAP ARE PERMITTED WITHOUT THE EXPRESSED WRITTEN CONSENT OF THE SIGNING PARTY. LEGEND POC POINT OF COMMENCEMENT POB POINT OF BEGINNING OR OFFICIAL RECORDS BOOK PB PLAT BOOK PG PAGE(S) AGradyMinor Civil Engineers . Land Surveyors . Planners Cert. of Auto. 6B 0005151 Cert. of Autn. LB 0005151 Bonita Springs: 239.447.1144 www. GradyMinor. row LINE TABLE LINE # BEARING DISTANCE Lt S 40'13'42" E 50.15' L2 S 59'39'54" W 54.14' L3 S 64'41'16' W 22.12' L4 S 4T4l'50" W 62.35' L5 S 25'26'17" W 38.45' L6 S 32'43'30" W 20.54' L7 S 83'21'09" W 32.82' L8 S 86*11'11" W 30.48' TE-ROW EXHIBIT A 8/29/22 Page 1 of 1 (OR 5745, PG 2785) ebb r� (OR 153, PG 37) LB Q. Grady Minor and .Associates. P.A. 3800 Via Del Rey Bonita Springs. Florida 34134 (OR 5092, PG 1898) POB L� (OR 5999, PG 643) 149DE (OR 5186, PG 1678) 0 20' 40' 80' L7 SCALE: 1'> = 40' THIS PLAN MAY HAVE BEEN ENLARGED OR REDUCED FROM INTENDED DISPLAY SCALE FOR REPRODUCTION REASONS `THIS IS NOT A SURVEY` SKETCH AND DESCRIPTION PARCEL OF LAND #16 Landscape Architects LYING IN Business LC 26000266 SECTION 22, TOWNSHIP 49 SOUTH, RANGE 25 Fort Myers: 239.690.4380 1 COLLIER COUNTY, FLORIDA DRAWN BY: AH CHECKED BY: DLS JOB CODE: CN015 SCALE: 1" = 40' DATE: 25 FEBRUARY 2022 FILE: 21-218SL SHEET: 1 of 1 r a D47E SiY'A'ED 1 Digitally signed by Donald L Saintenoy Yaa in, PSM Date 2022-08.03 08:16:45-,WOO' WAKD L 54WEM7Y N, P. FL UCEIE 16761 rOR m nnw ' J Packet Pg. 626 RKL APPRAISAL AND CON SUITING REAL ESTATE APPRAISAL REPORT PARCEL No.149DE Residential 1377 Sperling Lane Naples, Collier County, Florida, 34103 PREPARED FOR: Ms. Lisa Barfield Review Appraiser Collier County Transportation Right -Of -Way Group 2885 South Horseshoe Drive Naples, FL 34104 Client File: Project #60142 - PO No. 4500222634 ACHI L M. ZUCCHI, MAI, CCIM C. LOWRY, MAI, CPA 0UIS C. BOSBITT, MAI EFFECTIVE DATE OF THE APPRAISAL: January 28, 2023 DATE OF THE REPORT: February 8, 2023 REPORT FORMAT: Appraisal Report PREPARED BY: RKL Appraisal and Consulting, PLC RKL File Number: 2022-270 4500 Executive Drive, Suite 230 Naples, FL 34119-8908 Phone: 239-596-0800 www.rklac.com RKL APPRAISAL AND CONSULTING February 8, 2023 Ms. Lisa Barfield Collier County Transportation Right -Of -Way Group 2885 South Horseshoe Drive Naples, FL 34104 Re: Real Estate Appraisal Parcel No. 149DE 1377 Sperling Lane, Naples, Collier County, Florida, 34103 Client File: Project #60142 - PO No. 4500222634 RKL File Number: 2022-270 Dear Ms. Barfield: At your request, RKL Appraisal and Consulting, PLC has prepared the accompanying appraisal for the above referenced property. The purpose of the appraisal is to estimate the market value of the fee simple interest in the parent tract before and after the proposed acquisition. The intended users for the assignment are Collier County Transportation Engineering Division. The intended use of the appraisal is as a basis of value for determining full compensation to the property owner for the loss of the real estate resulting from the property rights and improvements (if any) which are proposed to be acquired, including all diminution in value to the remainder land and improvements (if any) which can be attributed to the use of, or activity upon, the proposed drainage easement (DE). We use the appraisal report option of Standards Rule 2-2 of USPAP to report the assignment results. Please reference the appraisal scope section of this report for important information regarding the scope of research and analysis for this appraisal, including property identification, inspection, highest and best use analysis, and valuation methodology. The accompanying appraisal conforms with the Uniform Standards of Professional Appraisal Practice (USPAP), the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. The parent tract is a residential parcel of land containing an area of 0.62506 acres, or 27,228 square feet. The parent tract is improved with a 1,920 square foot single-family home built in 1956 and a 522 square foot single-family home built in 1958. The improvements located outside the proposed acquisition area are considered to be unaffected by the acquisition. Therefore, the contributory value of those improvements is not reported in the following appraisal. ACHI L M. ZUCCHI, MAI. CCIM 4500 Executive Drive, Suite 230 Naples, FL 34119-8908 c. LOwRY, MAI, CPA Phone: 239-596-0800 0UIS C. BOBBITT, MAI www.rklac.com Ms. Lisa Barfield Collier County Transportation Right -Of -Way Group February 8, 2023 Page 2 Based on the appraisal described in the accompanying report, subject to the Limiting Conditions and Assumptions, Extraordinary Assumptions and Hypothetical Conditions (if any), it is my opinion that the amount due the property owner, as a result of the loss of real estate resulting from the property rights and improvements (if any) which are proposed to be acquired, including all diminution in value to the remainder land and improvements (if any) which can be attributed to the use of, or activity upon, the proposed perpetual, non-exclusive drainage easement (Parcel No. 149DE), as of January 28, 2023, is: SUMMARY OF TOTAL COMPENSATION Value of Property Rights Taken: $43,800 Value of Improvements Taken: $0 Severance Damages: $0 Net Cost to Cure: $0 TOTAL AMOUNT DUE OWNER: $43,800 The value conclusion(s) are subject to the following hypothetical conditions and extraordinary conditions. These conditions may affect the assignment results. Hypothetical Conditions: In the after analysis, it is a hypothetical condition the proposed acquisition and the proposed drainage improvements have been completed as of the effective date of the appraisal. Extraordinary Assumptions: None. Respectfully submitted, RKL APPRAISAL AND CONSULTING, PLC Rachel M. Zucchi, MAI, CCIM Florida State -Certified General Real Estate Appraiser RZ2984 rzucchi@rklac.com; Phone 239-596-0801 ACHI L M. ZUCCHI, MAI. CCIM 4500 Executive Drive, Suite 230 Naples, FL 34119-8908 c. LOwRY, MAI, CPA Phone: 239-596-0800 0UIS C. BOBBITT, MAI www.rklac.com PARCEL NO. 149DE TABLE OF CONTENTS TABLE OF CONTENTS Summary of Important Facts and Conclusions................................................................... 1 Introduction Information..................................................................................................... 5 SubjectIdentification...................................................................................................... 5 Current Ownership and Property History....................................................................... 5 AppraisalScope.............................................................................................................. 5 Client, Intended User, and Intended Use........................................................................ 6 Definition of Market Value............................................................................................. 6 Definition of Property Rights Appraised........................................................................ 6 Purpose of Appraisal, Property Rights Appraised, and Dates ........................................ 7 Scopeof Work................................................................................................................ 7 MarketArea Analysis..................................................................................................... 9 Property Description and Analysis................................................................................... 12 Site Analysis - Parent Tract.......................................................................................... 12 Real Estate Taxes and Assessments.............................................................................. 22 Highestand Best Use.................................................................................................... 23 ValuationMethodology.................................................................................................... 25 AnalysesApplied.......................................................................................................... 26 Valuation Analysis of Parent Tract................................................................................... 27 Sales Comparison Approach......................................................................................... 27 Valuation Analysis of Part Taken and Remainder Property ............................................. 34 Description of Part Taken............................................................................................. 34 Value Analysis Proposed Property Rights and Improvements Taken .......................... 37 Valuation Analysis of Remainder Property As Severed ................................................... 38 Description of Remainder Property as Severed............................................................ 38 Value Analysis Remainder Property As Severed......................................................... 38 Severance Damages to the Remainder Property........................................................... 40 Costto Cure Analysis................................................................................................... 40 Special Benefits Analysis............................................................................................. 40 Summary and Conclusion............................................................................................. 41 Certification...................................................................................................................... 42 Assumptions and Limiting Conditions............................................................................. 44 Addenda Appraiser Qualifications Property Information ..... Comparable Data ........... ....... Addendum A ....... Addendum B ....... Addendum C PARCEL No. 149DE SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS GENERAL Subject: Parcel No. 149DE 1377 Sperling Lane, Naples, Collier County, Florida, 34103 Owner: Daniel G. Riley Revocable Living Trust U/A/D January 23, 2016 Intended Use: The intended use is as a basis of value for determining full compensation to the property owner for the loss of the real estate resulting from the property rights and improvements (if any) which are proposed to be acquired, including all diminution in value to the remainder land and improvements (if any) which can be attributed to the use of, or activity upon, the proposed drainage easement (DE). Intended User(s): Collier County Transportation Engineering Division PARENT TRACT BEFORE THE TAKING Current Use: Single-family home Legal Description: Lengthy legal description shown in addenda. Tax Identification: 61945480009 Land Area: Total: 0.62506 acres; 27,228 square feet Shape: The parent site is pie shaped. Flood Zone: Zone X Zoning: RMF-6 - Residential Multi-Family-6 District Highest and Best Use As Vacant Residential development As Improved The highest and best use is as currently improved. VALUE INDICATIONS BEFORE THE TAKING Land Value: $1,579,200 Improvements: $0 Total Market Value of Parent Tract: $1,579,200 Effective Date(s) January 28, 2023 Property Rights Fee Simple Page 1 PARCEL No. 149DE SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS PART TAKEN Identification: Parcel No. 149DE Intended Use of the Proposed The intended use of the proposed acquisition area is for a Acquisition: perpetual, non-exclusive drainage easement by Collier County. Description: The part taken consists of a 7,548 square foot Drainage Easement located along the western border of the parent tract. Land Area: 0.17328 acres; 7,548 square feet Shape: Irregular Approximate Dimensions: Irregular, see sketch and description. Existing Easements and We are not aware of any additional easement, Encumbrances: restrictions, or encumbrances that would adversely affect value before the taking. However, a current title report was not provided for the purpose of this appraisal. Proposed Improvements Taken: The part taken consists largely of submerged lands. The improvements in and near the take include a dock, landscaping and rip rap. According to Collier County, the improvements located within or near the take, including the dock, landscaping and rip rap, will either not be affected, or will be cured by the contractor and are therefore not included in the following analysis. VALUE INDICATIONS PROPOSED PROPERTY RIGHTS AND IMPROVEMENTS TAKEN Property Rights Taken: $43,800 Improvements Taken: $0 Total: $43,800 Effective Date(s) January 28, 2023 VALUE INDICATIONS REMAINDER PROPERTY, AS PART OF THE WHOLE Market Value of the Parent Tract, Before the Taking: $1,579,200 Less Market Value of the Proposed Part Taken: $43,800 Total Market Value of the Remainder Property, As Part of the Whole: $1,535,400 Effective Date(s) January 28, 2023 Page 2 PARCEL NO. 149DE SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS REMAINDER PROPERTY, AFTER THE TAKING Land Area: Total: 0.62506 acres; 27,228 square feet Shape: The parent site is pie shaped. Improvements: The parent tract is improved with a 1,920 square foot single-family home built in 1956 and a 522 square foot single-family home built in 1958. Existing Easements and The remainder parcel will be encumbered by a 7,548 Encumbrances: square foot Drainage Easement running along the western border of the parent tract. We are not aware of any additional easement, restrictions, or encumbrances that would adversely affect value before the taking. However, a current title report was not provided for the purpose of this appraisal. Proposed Acquisition: A Drainage Easement (DE) acquisition containing a total of 7,548 square feet or 0.17328 acres. Highest and Best Use As Vacant Residential development As Improved The highest and best use is as currently improved. VALUE INDICATIONS REMAINDER PROPERTY, AFTER THE TAKING Land Value: $1,141,400 Improvement Value: $0 Plus Encumbered Land: $394,000 Total Market Value of Reminder Property: $1,535,400 Effective Date(s) January 28, 2023 Severance Damages to the Remainder Property Value of the Whole $1,579,200 Less Value of the Part Taken $43,800 Value of the Remainder Property as Part of the Whole $1,535,400 Value of the Remainder Property as Severed $1,535,400 Difference (Severance Damages) $0 Rounded: $0 Net Cost to Cure: $0 Special Benefits: $0 Page 3 PARCEL NO. 149DE SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS Parcel No. 149DE Fee Value per Indicated Value °f Fee Square Feet Indicated Value Rounded Total Value Square Feet per SF Value Parent Tract Before the Taking Land $58.00 100% $58.00 27,228 $1,579,212 $1,579,200 Total $1,579,200 Proposed Part Taken Fee Value per of Fee Indicated Value Square Feet Indicated Value Rounded Total Value Square Feet per SF Value Parcel 149 Drainage Easement (DE) $58.00 10% $5.80 7,548 $43,778 $43,800 Improvements Taken $0 Total Part Taken - Drainage Easement $43,800 Remainder Property, as Part of the Whole $1,535,400 Remainder Property Land Area- Exclusive ofEncunberedLand $58.00 100% $58.00 19,680 $1,141,428 $1,141,400 Taken Phis Encumbered Land $58.00 90% $52.20 7,548 $394,006 $394,000 Total $1,535,400 Damages $0 Special Benefits $0 Net Damages $0 Summary of Total Compensation Encumbered Land Taken (Parcel No. 149DE) $58.00 10% $5.80 7,548 $43,778 $43,800 Value ofhnprovements Taken $0 Total $43,800 Net Damages $0 Net Cost to Cure $0 Total Amount Due Owner $43,800 The improvements located outside the proposed acquisition area are considered to be unaffected by the acquisition. Therefore, the contributory value of those improvements is not reported. The value conclusion(s) are subject to the following hypothetical conditions and extraordinary conditions. These conditions may affect the assignment results. Hypothetical Conditions: In the after analysis, it is a hypothetical condition the proposed acquisition and the proposed drainage improvements have been completed as of the effective date of the appraisal. Extraordinary Assumptions: None. Page 4 PARCEL NO. 149DE INTRODUCTION INFORMATION INTRODUCTION INFORMATION SUBJECT IDENTIFICATION Subject: Parcel No. 149DE 1377 Sperling Lane, Naples, Collier County, Florida, 34103 Legal Description: Lengthy legal description shown in addenda. Tax Identification: 61945480009 The parent tract is a residential parcel of land containing an area of 0.62506 acres, or 27,228 square feet. The parent tract is improved with a 1,920 square foot single-family home built in 1956 and a 522 square foot single-family home built in 1958. The improvements located outside the proposed acquisition area are considered to be unaffected by the acquisition. Therefore, the contributory value of those improvements is not reported. CURRENT OWNERSHIP AND PROPERTY HISTORY Owner The owner of the property is Daniel G. Riley Revocable Living Trust U/A/D January 23, 2016. Sale History According to public records, a Quit Claim Deed dated August 13, 2021 transferred title between Arianna and Logan Riley Irrevocable Trust U/A/D January 1, 2019 to Daniel G. Riley Revocable Living Trust U/A/D January 23, 2016. The deed is recorded in Collier County Clerk of Courts OR Book 5999, Page 643. Current Listing/Contract(s): To the best of our knowledge, no other sale or transfer of ownership has occurred within the past three years, and as of the effective date of this appraisal, the property is not subject to an agreement of sale or option to buy, nor is it listed for sale. APPRAISAL SCOPE According to the Uniform Standards of Professional Appraisal Practice, it is the appraiser's responsibility to develop and report a scope of work that results in credible results that are appropriate for the appraisal problem and intended user(s). Therefore, the appraiser must identify and consider: • the client and any other intended users; • the intended use of the appraiser's opinions and conclusions; • the type and definition of value; • the effective date of the appraiser's opinions and conclusions; • subject of the assignment and its relevant characteristics Page 5 PARCEL, No. 149DE INTRODUCTION INFORMATION • assignment conditions • the expectations of parties who are regularly intended users for similar assignments; and • what an appraiser's peer's actions would be in performing the same or a similar assignment. CLIENT, INTENDED USER, AND INTENDED USE The client and the intended user of the appraisal are Collier County Transportation Engineering Division. The intended use is as a basis of value for determining full compensation to the property owner for the loss of the real estate resulting from the property rights and improvements (if any) which are proposed to be acquired, including all diminution in value to the remainder land and improvements (if any) which can be attributed to the use of, or activity upon, the proposed drainage easement (DE). The appraisal is not intended for any other use or user. DEFINITION OF MARKET VALUE Market value definition used by agencies that regulate federally insured financial institutions in the United States is defined by The Dictionary of Real Estate Appraisal, 7th ed. (Chicago: Appraisal Institute, 2022) as: The most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: ■ Buyer and seller are typically motivated; ■ Both parties are well informed or well advised, and acting in what they consider their best interests; ■ A reasonable time is allowed for exposure in the open market; ■ Payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto; and ■ The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale." (Source: 12 C.F.R. Part 34.42(g); 55 Federal Register 34696, August 24, 1990, as amended at 57 Federal Register 12202, April 9, 1992; 59 Federal Register 29499, June 7, 1994) DEFINITION OF PROPERTY RIGHTS APPRAISED Fee simple estate is defined as an: "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." (Source: The Dictionary of Real Estate Appraisal, 7th ed. (Chicago: Appraisal Institute, 2022) Page 6 PARCEL, No. 149DE INTRODUCTION INFORMATION The proposed property rights to be acquired include a proposed perpetual, non-exclusive, drainage easement. PURPOSE OF APPRAISAL, PROPERTY RIGHTS APPRAISED, AND DATES The purpose of the appraisal is to estimate the market value of the fee simple interest in the parent tract before and after the proposed acquisition. The effective date of the subject appraisal is January 28, 2023. The date of my most recent inspection was January 28, 2023. The date of the report is February 8, 2023. SCOPE OF WORK The problem to be solved is to estimate the market value of the fee simple interest in the parent tract before and after the proposed acquisition. SCOPE OF WORK Report Type: This is an Appraisal Report as defined by Uniform Standards of Professional Appraisal Practice under Standards Rule 2-2(a). This format provides a summary or description of the appraisal process, subject and market data and valuation analyses. Property Identification: The subject has been identified by the legal description and the assessors' parcel number. Inspection: An on -site inspection was made and photographs taken. Market Area and Analysis of A complete analysis of market conditions has been made. Market Conditions: The appraiser maintains and has access to comprehensive databases for this market area and has reviewed the market for sales and listings relevant to this analysis. Highest and Best Use Analysis: A complete as vacant highest and best use analysis for the subject has been made. Physically possible, legally permissible and financially feasible uses were considered, and the maximally productive use was concluded. Valuation Anal Cost Approach: A cost approach was not applied as the subject tract is analyzed as vacant land. However, the Cost Approach is utilized to estimate the contributory depreciated value of the site improvements (if any) taken. Sales Comparison Approach: A sales approach was applied as typically this is the most appropriate approach for the valuation of vacant land. This approach is applicable to the subject because there is an active market for similar properties and sufficient sales data is available for analysis. Income Approach: An income approach was not applied as the subject is not likely to generate rental income as vacant land. Hypothetical Conditions: In the after analysis, it is a hypothetical condition the proposed acquisition and the proposed drainage improvements have been completed as of the effective date of the appraisal. Page 7 PARCEL NO. 149DE INTRODUCTION INFORMATION Extraordinary Assumptions: None. Comments The individual sections of the report detail the additional research, confirmation, and analysis of relevant data. Page 8 PARCEL No. 149DE MARKET AREA ANALYSIS MARKET AREA ANALYSIS Boundaries The subject is located in the Central Naples Planning District of Collier County. The market area is generally delineated as follows: North Pine Ridge Road South Radio Road East Interstate 75 West Tamiami Trail (US 41) A map identifying the location of the property follows this section. Market Area Access and Linkages Primary access to the market area is provided by Tamiami Trail, Goodlette Road, Airport -Pulling Road, Livingston Road, Golden Gate Parkway, Pine Ridge Road and Radio Road. Tamiami Trail, Goodlette Road, Airport -Pulling Road and Livingston Road run in a north / south direction and Golden Gate Parkway, Pine Ridge Road and Radio Road run in an east / west direction. Airport Road is a six -lane divided highway from US-41 East to Vanderbilt Beach Road, and four lanes further north to Immokalee Road. The Naples Municipal Airport is located along Airport -Pulling Road just south of Golden Gate Parkway. Golden Gate Parkway extends from Golden Gate City in the east to the City of Naples in the west. Golden Gate Parkway provides the closest Interstate 75 access. Pine Ridge Road also provides Interstate 75 access to the north. The Southwest Florida International Airport (RSW) is located about 35 miles from the market area; travel time is about 45 minutes to an hour, depending on traffic conditions. The Naples Municipal Airport (APF) is located partially within the market area and the Marco Island Airport (MKY) is approximately 10 miles and 20 minutes to an hour south of the market area. The Naples CBD, the economic and cultural center of the region, is approximately 5 miles from the market area. Demographics The following table shows the historical, current and projected population, households, housing, and income demographics for the immediate market area defined as a 3 mile radius from the subject. The table was developed using data from STDBOnline.com. Page 9 PARCEL No. 149DE MARKET AREA ANALYSIS • (Desri Demographic .. Income Profile Sperling Ct Prepared by Esri Naples, Florida, 34103 Latitude: 26.19416 Ring: 3 mile radius Longitude: -81.79456 Summary Census 2010 Census 2020 2022 2027 Population 37,611 39,277 40,042 40,422 Households 18,911 19,718 20,003 20,324 Families 11,141 - 11,489 11,623 Average Household Size 1.98 1.96 1.97 1.96 Owner Occupied Housing Units 13,350 - 14,116 14,376 Renter Occupied Housing Units 5,566 - 5,887 5,949 Median Age 57.5 - 61.9 63.7 Trends: 2022-2027 Annual Rate Area State National Population 0.19% 0.61% 0.25% Households 0.32% 0.62% 0.31% Families 0.23% 0.590/1 0.28% Owner HHs 0.37% 0.83% 0.53% Median Household Income 2.76% 3.750% 3.12 2022 2027 Households by Income Number Percent Number Percent <$15,000 1,498 7.51/. 1,041 5.1% $15,000 - $24,999 806 4.0% 567 2.8% $25,000 - $34,999 1,190 5.9% 900 4.4% $35,000 - $49,999 1,701 8.5% 1,247 6.1% $50,000 - $74,999 2,325 11.6% 2,285 11.2% $75,000 - $99,999 1,892 9.5°/n 1,949 9.6% $100,000- $149,999 3,397 17.0% 4,071 20.0% $150,000 - $199,999 1,963 9.8% 2,604 12.8% $200,000+ 5,231 26.2% 5,660 27.8% Median Household Income $106,188 $121,674 Average Household Income $165,518 $185,354 Per Capita Income $82,126 $92,507 Outlook and Conclusions As with Collier County, the long term economic outlook for Central Naples is positive. Total population is projected to increase slightly over the next five years. More importantly, the area is projected to continue to experience increasing employment growth. Based on this analysis, it is anticipated that Central Naples will continue to grow and prosper. Prior to the coronavirus pandemic, the residential market had stabilized after several years of an expansion period, with sustained growth in demand and increasing construction. Since the coronavirus pandemic, residential demand increased significantly with record sales in 2020 and continued high demand but limited inventory in 2021 and 2022. Inventory is increasing in 2023 as demand is declining due to continued increases in interest rates. New home builders continue to face shortages with a lack of building supplies creating a backlog of newly constructed homes. Prices continue to increase; however, the rate of increase is declining. Generally, the commercial market lags the residential market. The significant residential demand since the pandemic has generally stabilized the commercial market overall with an increased demand for the industrial sector and select retail and office properties. Page 10 PARCEL No. 149DE Market Area Map Ards —Naples r �Glam Pass ParlR JL ` i Pine Ridge Rd I � �PUblic Beach Tl ti 7 PARK SHORE 1� P ' I i Oil„r,R = I �I �I a� MOORINGS �' 2 3 26th An N � SUN TERRACE Freedom Park ■ • ■ i Gold en bate m" I BEARS PAW Golden Gate P" Map data 02M Page 11 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT PROPERTY DESCRIPTION AND ANALYSIS SITE ANALYSIS - PARENT TRACT The following description is based on our property inspection, public records, and a sketch and description of the proposed take prepared by GradyMinor. Land Summary - Parent Tract Before Taking Parcel ID Gross Land Area Gross Land Area (Acres) (Sq Ft) 61945480009 0.6251 27,228 SITE Location: The subject is located at the end of Sperling Lane with rear frontage on a small lake. Current Use of the Property: Single-family home Shape: The parent site is pie shaped. Road Frontage/Access: The subject property has average access with frontage as follows: • Sperling Lane: 15 The site has an average depth of approximately 200 feet. It is not a corner parcel. Visibility: Average Topography: The subject parent tract is largely cleared with level topography. According to the Collier County Property Appraiser, the rear approximately 0.13 acres is submerged land. Soil Conditions: We were not provided with a soils report for the purpose of this appraisal. We are not experts in soils analysis; however, the soil conditions observed at the subject appear to be typical of the region and adequate to support development. Utilities: Electricity: FP&L Sewer: Septic Water: Municipal water Underground Utilities: The site is not serviced by underground utilities Adequacy: The subject's utilities are typical and adequate for the market area. Site Improvements: • Street Lighting: There is no street lighting along Sperling Lane. • Sidewalks: There are no sidewalks along Sperling Lane. • Curbs and Gutters: There are no curbs or gutters along Sperling Lane. • Curb Cuts: The parent tract is accessed from a brick paver driveway at the end of Sperling Lane. Flood Zone: The subject is located in an area mapped by the Federal Emergency Management Agency (FEMA). The subject upland area is located in FEMA flood zone X, which is not classified as a flood hazard area. Page 12 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT FEMA Map Number: 12021C 0383H FEMA Map Date: May 16, 2012 The upland areas of the subject parcel appear to be largely in Flood Zone X and the take is in Flood Zone AE. The appraiser is not an expert in this matter and is reporting data from FEMA maps. Environmental Issues: We were not provided with an environmental assessment report for the purpose of this appraisal. Environmental issues are beyond our scope of expertise; therefore, we assume the property is not adversely affected by environmental hazards. Encumbrance / Easements: We are not aware of any additional easement, restrictions, or encumbrances that would adversely affect value before the taking. However, a current title report was not provided for the purpose of this appraisal. Site Comments: The site has average and typical utility. ZONING Zoning Code RMF-6 Zoning Authority Collier County Zoning Description Residential Multi-Family-6 District; Permitted Uses Single-family dwellings; Duplexes, two-family dwellings; Multi -family dwellings; Townhouses; Family care facilities; and Educational plants and public schools with an agreement with Collier County Current Use Legally Conforming The subject is a legal and conforming use. Minimum Lot Area (SF) 6,500 SF (Single-family); 12,000 SF (Duplex); 5,500 per unit (3+ units) Minimum Floor Area (SF) 750 SF Minimum Street Frontage (Feet) 60' (Single-family); 80' (Duplex); 100' (3+ units) Front Set Back Distance (Feet) 25' (Single-family and Duplex); 30' (3+ units) Front and Rear Set Back Distance (Feet) 20' Side Yard Distance (Feet) Non -waterfront: 7.5' (Single-family); 10' (Duplex); 15' (3+ units); Waterfront: 10' (Single-family and Duplex); 15' (3+ units) Maximum Density/FAR 6 units per acre Maximum Building Height (Feet) 35 Zoning Comments We were not supplied with a survey indicating building setbacks and have assumed that the improvements conform to current building codes. Future Land Use Designation Urban Residential Subdistrict Page 13 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT Zoning Map El Page 14 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT Aerial - Parent Tract Page 15 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT Flood Map National Flood Hazard Layer FIRMette CEMA Zone AEA w 'mac I • orb T49$R25E 515 r �. I Zone l;f ��1 « 'AREA'OF MIIJINII,�L FLOOD w+zaRo r .2 w �C17Y� OF NAPLES COLLIi-K(Ot : I Subject .. ii 4 y i - -. ,T49S R25ELL LL. - ?gin w 1 - - _ _ - - - - - LL y _ ice`°• _� - - - - Feet Legend 1 Wimwr Ee�e F3notl Ekvadon tBFE� Whir 9FEor OePRr SmeaE, m, w, r£AA HAZARU AREAS RegWemry Rmawey 02%AnnPel fM1en« Fboa Herartl. 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The"9md Hamm niarmetinn is derived dincrlyfmm the arms. tatme xFx - Hy -map r remen changes nr a bap h' a.reana The NFllL antl eMxt Po sy M1 rtg r become:npemeaeaM e TM1rz map rmage'n 'tl it rbe one or more Mme Polbwing may elem rt tln mempeer besemep lm�gmry, fkotl ra �labek, iegenan scafenbar_ - uniry iae - meges or Hrrtnpea a�a�emader�iad aaa ®��nM�Pea br 0 250 500 1,000 1,500 2,000 v reg"'�ryP°ryOSeZ 8acema� HSGS Na�Onaf Maps Orthoimagery➢am re/reshed Or.L,ber, 2D20 Page 16 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT Site Photographs Sperling Lane — Northeasterly (Photo Taken on January 28, 2023 A Sperling Lane — Southwesterly; Brick Paver Driveway to Single -Family Home (Photo Taken on January 28, 2023) Page 17 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT Site Photographs Dock, Landscaping, and Rip Rap within Part Taken Landscaping and Rip Rap near and within Part Taken (Photo Taken on January 28, 2023) Page 18 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT Site Photographs Submerged Land, Dock, and Rip Rap within Part Taken (Photo Taken on January 28, 2023) Landscaping and Rip Rap within Part Taken (Photo Taken on January 28, 2023) Page 19 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT Site Photographs Landscaping and Rip Rap within Part Taken Submerged lands within Part Taken (Photo Taken on January 28, 2023) Page 20 PARCEL No. 149DE SITE ANALYSIS - PARENT TRACT Improvements Analysis The parent tract is a residential parcel of land containing an area of 0.62506 acres, or 27,228 square feet. The parent tract is improved with a 1,920 square foot single-family home built in 1956 and a 522 square foot single-family home built in 1958. The parent tract will consist of approximately 0.62506 acres before and after the taking. After the taking, there will be a 7,548 square foot drainage easement located along the western border of the parcel. The part taken consists largely of submerged lands. The improvements in and near the take include a dock, landscaping and rip rap. According to Collier County, the improvements located within or near the take, including the dock, landscaping and rip rap, will either not be affected, or will be cured by the contractor and are therefore not included in the following analysis. Therefore, the remainder property's improvements will not be damaged after the taking. The improvements located outside the proposed acquisition area are considered to be unaffected by the acquisition. Therefore, the contributory value of those improvements is not reported. Page 21 PARCEL No. 149DE REAL ESTATE TAXES AND ASSESSMENTS REAL ESTATE TAXES AND ASSESSMENTS The real estate tax assessment of the subject is administered by Collier County. In 2008, Florida voters amended the Constitution to give non -homestead property owners some protection against increases in their annual property tax assessments. As amended, the Florida Constitution now prohibits the assessment of certain non - homestead property from increasing by more than 10% per year. The 10% cap applies to most types of commercial property, including non -homestead residential property (i.e. apartments and other rental property) and nonresidential property (i.e. commercial property and vacant land). The cap was set to expire on January 1, 2019; however, in November 2018 Florida voters amended the Constitution to make the cap permanent. The protection of the 10% cap is lost when there is a change of ownership or control. The property tax identification number and assessed value of the property for tax year 2022 are as follows: ASSESSED VALUES - PARENT TRACT Tax Identification Number 61945480009 Land Assessed Value $560,790 Building Assessed Value $152,515 Save our Homes/Homestead, et al. $0 Total Assessed Value $713,305 Totals Total Land Assessed Value $560,790 Total Building Assessed Value $152,515 Save our Homes/Homestead, et al. $0 Total Assessment $713,305 Rates, Taxes, More Tax Rate 1.05% Ad Valorem Tax Amount $7,463 Special Assessment Amount $692.46 Special Assessment Comments District 1 Garbage Total Tax Liability The 2021 and 2022 taxes have been paid. The assessment for the subject underlying land is currently $20.60 per square foot prior to exemptions. Based on our valuation analysis, the subject's assessment appears low. Page 22 PARCEL No. 149DE HIGHEST AND BEST USE HIGHEST AND BEST USE Highest and best use may be defined as: The reasonably probable use of property that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity. 1 ■ Physically possible for the land to accommodate the size and shape of the ideal improvement. ■ Legally permissible under the zoning regulations, building codes, environmental regulations, and other restrictions that apply to the site. A property use that is either currently allowed or most probably allowable. ■ Financially feasible to generate sufficient income to support the use. ■ Maximally productive, or capable of producing the highest value from among the permissible, possible, and financially feasible uses. Highest and Best Use As If Vacant Physically Possible The parent tract is 0.62506 acres or 27,228 square feet with 15 feet of frontage along Sperling Lane. The subject parent tract is largely cleared with level topography. According to the Collier County Property Appraiser, the rear approximately 0.13 acres is submerged land. The physical characteristics of the subject tract should reasonably accommodate any use that is not restricted by its size. The subject's utilities are typical and adequate for the market area. The parent site is pie shaped. The site is located in a FEMA flood zone X area per FEMA Flood Map Number: 12021C 0383H, dated May 16, 2012, which is not classified as a flood hazard area. Aside from the rear submerged land, there are no known physical reasons that would unusually restrict development. The site is considered to have a functional utility suitable for a variety of uses. Legally Permissible The subject site is zoned within the Residential Multi-Family-6 District (RMF-6). Single-family dwellings; Duplexes, two-family dwellings; Multi -family dwellings; Townhouses; Family care facilities; and Educational plants and public schools with an agreement with Collier County. 1 The Dictionary of Real Estate Appraisal 7' ed. (Chicago: Appraisal Institute, 2022) Page 23 PARCEL No. 149DE HIGHEST AND BEST USE We are not aware of any additional easement, restrictions, or encumbrances that would adversely affect value before the taking. However, a current title report was not provided for the purpose of this appraisal. Recognizing the principle of conformity, we consider the prevailing land use patterns in the area. Therefore, only residential uses are given further consideration in determining the highest and best use of the site, as if vacant. Financially Feasible Financial feasibility is an analysis of the ability of a property to generate sufficient income to support the use, or a reasonable probability of producing a positive income stream net of operating expenses, financial costs, and capital amortization. The projected growth in population and employment provide an economic base that supports demand for real estate in the subject neighborhood and for the subject property. These conditions have resulted in increasing property values and should stimulate continued increases within the foreseeable future. Prior to the coronavirus pandemic, the residential market had stabilized after several years of an expansion period, with sustained growth in demand and increasing construction. Since the coronavirus pandemic, residential demand increased significantly with record sales in 2020 and continued high demand but limited inventory in 2021 and 2022. Inventory is increasing in 2023 as demand is declining due to continued increases in interest rates. New home builders continue to face shortages with a lack of building supplies creating a backlog of newly constructed homes. Prices continue to increase; however, the rate of increase is declining. On this basis, barring unforeseen changes in the market, a well -designed residential product should be received favorably by the market. Maximally Productive The maximally productive land use yields the highest value of the possible uses. Residential development is the only use that meets the tests of physically possible, legally permissible, and financially feasible. Therefore, residential development is concluded to be the maximally productive and highest and best use of the site. Highest and Best Use as Improved A continuation of the current use on the parent tract is concluded to be financially feasible due to the quality, age and location of the improvements. There are no apparent alternative uses that would indicate a higher present value that the current use. Furthermore, the value of the existing improvements, as is, exceeds the value of the site. Therefore, The highest and best use is as currently improved. Most Probable Buyer Considering the size, class, and location of the property, the most probable buyer is an owner user. Page 24 PARCEL NO. 149DE VALUATION METHODOLOGY VALUATION METHODOLOGY Three basic approaches may be used to arrive at an estimate of market value. They are: 1. The Cost Approach 2. The Sales Comparison Approach 3. The Income Approach Cost Approach The Cost Approach estimates the current cost to construct the existing structure including an entrepreneurial incentive, depreciation, and the estimated land value. This approach is particularly applicable when the improvements represent the highest and best use of the land and are relatively new. It is also applicable when the property has unique or specialized improvements for which there is little or no sales data from comparable properties. Sales Comparison Approach The Sales Comparison Approach compares sales of similar properties with the subject property. Each comparable sale is adjusted for its inferior or superior characteristics. The values derived from the adjusted comparable sales form a range of value for the subject. By process of correlation and analysis, a final indicated value is derived. This approach is most reliable in an active market, and is least reliable when valuing a property for which no direct comparable sales data is available. Income Approach The Income Approach converts the anticipated flow of future benefits (cash flows and reversion) to a present value estimate through a capitalization and or a discounting process. This approach generally reflects a typical investor's perception of the relationship between the potential income of a property and its market value. Final Reconciliation The appraisal process concludes with the Final Reconciliation of the values derived from the approaches applied for a single estimate of market value. The reconciliation of the approaches is based on an evaluation of the quantity and quality of the available data in each approach. Furthermore, different properties require different means of analysis and lend themselves to one approach over the others. Page 25 PARCEL No. 149DE VALUATION METHODOLOGY ANALYSES APPLIED A cost analysis was considered and was not developed because the subject tract is analyzed as vacant land. However, the Cost Approach is utilized to estimate the contributory depreciated value of the site improvements (if any) taken. A sales comparison analysis was considered and was developed because typically this is the most appropriate approach for the valuation of vacant land. This approach is applicable to the subject because there is an active market for similar properties and sufficient sales data is available for analysis. An income analysis was considered and was not developed because the subject is not likely to generate rental income as vacant land. Page 26 PARCEL NO. 149DE SALES COMPARISON APPROACH VALUATION ANALYSIS OF PARENT TRACT SALES COMPARISON APPROACH The Sales Comparison Approach is based on the premise that a buyer would pay no more for a specific property than the cost of obtaining a property with the same quality, utility, and perceived benefits of ownership. It is based on the principles of supply and demand, balance, substitution and externalities. The following steps describe the applied process of the Sales Comparison Approach. • The market in which the subject property competes is investigated; comparable sales, contracts for sale and current offerings are reviewed. • The most pertinent data is further analyzed and the quality of the transaction is determined. • The most meaningful unit of value for the subject property is determined. • Each comparable sale is analyzed and where appropriate, adjusted to equate with the subject property. • The value indication of each comparable sale is analyzed and the data reconciled for a final indication of value via the Sales Comparison Approach. Land Comparables I have researched five comparables for this analysis; these are documented on the following pages followed by a location map and analysis grid. All sales have been researched through numerous sources, inspected and verified by a party to the transaction. For this analysis, we use the price per square foot as the appropriate unit of comparison because market participants typically compare sale prices and property values on this basis. Page 27 PARCEL NO. 149DE SALES COMPARISON APPROACH Comp Address Date Price Shape City Land SF Price Per SF View Subject 1377 Sperling Lane 1/28/2023 Pie shaped Naples 27,228 Lake 1 1148 Cypress Woods Drive 4/11/2022 $780,000 Rectangular Naples 14,280 $54.62 None 2 1003 Frank Whiteman Blvd 5/3/2022 $1,100,000 Rectangular Naples 20,310 $54.16 None 3 1328 Ridge Street 5/18/2022 $320,000 Rectangular Naples 6,500 $49.23 None 4 2655 14th St N 2/9/2022 $815,000 Rectangular Naples 17,860 $45.63 None 5 1359 Granada Blvd 2/18/2022 $325,000 Rectangular MOL Naples 8,059 $40.33 Lake Comparables Map Olt a { F I L I A Clam Pass Pnrk * 1 'Pin a Rd 1 ■ 0AP } PARK SHARE rk � +, { + ! {+ C 9 f b r SUN TERRACE G Ic er C to .+r ■ • ■ �Mapdata @24231NEGI Page 28 PARCEL No. 149DE SALES COMPARISON APPROACH Analysis Grid The above sales have been analyzed and compared with the subject property. I have considered adjustments in the areas of: Effective Sale Price This takes into consideration unusual conditions involved in the sale that could affect the sales price, such as excess land, non - realty components, commissions, or other similar factors. Usually the sale price is adjusted for this prior to comparison to the subject. Real Property Rights Property rights dissimilar to the subject which affect value. Financing Terms Favorable or unfavorable seller financing, or assumption of existing financing. Conditions of Sale Circumstances that atypically motivate the buyer or seller, such as 1031 exchange transaction, assemblage, or forced sale. Market Conditions Inflation or deflation since sale date due to economic influences Location Market or submarket area influences on sale price; surrounding land use influences. Physical Characteristics Attributes such as size, shape, utilities, frontage, zoning, etc. On the following page is a sales comparison grid displaying the subject property, the comparables and the adjustments applied. Page 29 PARCEL No. 149DE SALES COMPARISON APPROACH Land Analysis Grid Comp 1 Comp 2 Comp 3 Comp 4 Comp 5 Name Parcel No. 149DE 1148 Cypress Woods 1003 Frank Whiteman 1328 Ridge Street 2655 14th St N 1359 Granada Blvd Drive Blvd Address 1377 Sperling Lane 1148 Cypress Woods 1003 Frank Whiteman 1328 Ridge Street 2655 14th St N 1359 Cranada Blvd Drive Blvd City Naples Naples Naples Naples Naples Naples Date 1/28/2023 4/11/2022 5/3/2022 5/18/2022 2/9/2022 2/18/2022 Price $780,000 $1,100,000 $320,000 $815,000 $325,000 Land SF 27,229 14,280 20,310 6,500 17,860 8,059 Land SF Unit Price $54.62 $54.16 $49.23 $45.63 $40.33 Transaction Adjustments Property Rights Fee Simple Fee Simple 0.00/, Fee Simple 0.0% Fee Simple 0.0"/o Fee Simple 0.0% Fee Simple 0.0% Financing Cash 0.0% Cash 0.0% Cash 0.0% Cash 0.0% Cash 0.0% Conditions of Sale Ann's Length 0.00/. Antis Length 0.0% Ann's Length 0.0% AmfLength 0.0% Arms Length 0.0% Adjustedland SF Unit Price $54.62 $54.16 $49.23 $45.63 $4033 Market Trends Through 1/28/2023 25.0% 19.5% 17.9% 16.9% 24.1% 23.4% Adjustedland SF Unit Price $6530 $63.88 $57.54 $56.62 $49.77 Location Sperling Lane Cypress Woods Dr Frank Whiteman Blvd Ridge Street 14th St N Granada Blvd %Adjustment (p/ 0% 0^/ 0`/ (p/ $ Adjustmentl 27,228 $0.00 14,280 $0.00 20,310 $0.00 6,500 $0.00 17,860 $0.00 8,059 Land SF Adjustment 0% 0% 0% 0% oo/ SAdjustmentl 15 ; 70 feet wide $0.00 105 $0.00 Three 50' Lots $0.00 50 $0.00 130 $0.00 75 Primary Frontage Feet Adjustment -5% 5% 101/6 -5% 0% $Adjustment No / Ye -$3.26 No / No $3.19 No / No $5.75 No / No -$2.83 No / No S0.00 Yes / No Easement / Subme %AduLannt -15% -15% -15% -15% -5% $Adjustment Pie shaped -$9.79 Rectangular -$9.58 Rectangular -$8.63 Rectangular -$8.49 Rectangular -$2.49 Rectangular MOL Shape %Adjustment 0a/ oo/ po/ 0% 0% S Adjustmentl Lake $0.00 None $0.00 None $0.00 None $0.00 None $0.00 Lake view %Adjustment 15% 15% 15% 15% 5% S Adjustmentl RMF-6 $9.79 RSF-4 (Single Family) $9.58 RSF-4 (Single Family) $8.63 RSF-4 (Single Family) $8.49 RI-7.5 (Single Family) $2.49 RMF-6 (Multi -Family) Zoning %Adjustment -5% -5% -5% -5% 0% $ Adjustment -$3.26 -$3.19 -$2.88 -$2.83 S0.00 Adjusted land SF Unit Price $58.77 $63.88 $60.41 $50.96 $49.77 Net Adjustments -10.0% 0.0% 5.0% -10.0% 0.01/6 Gross Adjustments 40.0% 40.0% 45.0% 40.0% 10.0% Page 30 PARCEL NO. 149DE SALES COMPARISON APPROACH Comparable Land Sale Adjustments Property Rights All of the comparables transferred in fee simple interest; therefore, no adjustments for property rights are required. Financing All of the comparable sales had market orientated financing or were cash transactions; therefore, no adjustments for financing are required. Conditions of Sale All of the comparable sales were arm's length transactions; therefore, no adjustments for conditions of sale are required. Economic Trends According to the December 2022 Market Report released by the Naples Area Board of Realtors (NABOR), single-family closed sales decreased 31.9% in December 2021 compared to closed sales in December 2022. According to the December 2022 report, there was a 23.5% increase in median closed price for single-family homes year-to-date for the entire Naples market. The average closed price increased 19.9% year-to-date. The following table summarizes single family metrics within the subject's Naples Beach market area. Naples Beach is defined by NABOR as Zip Codes 34102, 34103, and 34108 which consists generally of properties west of Goodlette-Frank Road and south of Immokalee Road. Naples Beach 34102, 34103, 34108 Single Family December Year to Date Key Metril 2021 2022 I IJ New Listings 52 79 +51.9% 1,109 1,145 +3.2% Total Sales 79 54 -31A% 1,101 625 -43.2% Days on Market Until Sale 47 61 + 29.8°/n 65 44 - 32.3% Median Closed Price" $2,050,000 S2,737,517 + 33.5% $1,925,000 $2,195,000 + 14.0% Average Closed Price` $4,113,393 S4,180,556 +1.6% $3,097,081 $3,883,723 +25.4% Percent of List Price Received" 98.1 % 92.3% - 5.9% 97.9°/o 97.2 % - 0.7% Inventory of Homes for Sale 146 349 + 139.0% Months Supply of Inventory 1.6 6.7 +318.8% — Does not account For sale concessions amYor downpayment assistance. I Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size As shown, the number of new listings is up 3.2% year-to-date while the number of closed sales is down 43.2% year-to-date. The median closed price increased by 14.0% year-to- date and the average price is up 25.4% year-to-date. However, it is noted this is unadjusted raw data and does not relate directly to the subject. Page 31 PARCEL NO. 149DE SALES COMPARISON APPROACH I also consider Comparable Sale 2 sold in May 2022 for $1,100,000 or $54.16 and was subdivided and currently listed for $599,500 per lot or approximately $88 per square foot. Based on the preceding analysis and considering underlying land will have a similar trend as single-family homes, while also considering the recent interest rate increases and increasing inventory, a 25.0% average annual adjustment is applied. Location The subject and all of the comparables are located east of Tamiami Trail (U.S. 41) and west of Goodlette-Frank Road. No adjustments could be supported; therefore, none are made. Size The subject consists of 27,228 square feet relatively similar to Comparables 1 and 4. Comparable 2 consisted of three adjacent lots or approximately 6,770 square feet each. Comparables 3 and 5 are 6,500 and 8,059 square feet respectively. No adjustments for size could be supported; therefore, none are made. Primary Frontage Feet The subject has approximately 15 feet of frontage located at the end of Sperling Lane. However, it is approximately 70 feet wide along the eastern border with 245 feet of width along the lake. It is considered relatively similar to Comparable 5. Comparables 1 and 4 are adjusted for their superior wider lots. Comparable 3 is adjusted upward for its inferior 50-foot-wide lot. Comparable 2 was 150 feet wide, but has been subdivided and is marketed as three 50-foot-wide lots. It is adjusted upward accordingly. The adjustment considers the lots can be reassembled. Easement/Submerged Lands The rear approximately 0.13 acres is submerged land comprising approximately 20% of the site. Comparable 5 has an easement that affects the buildable area of the lot that encumbers approximately 11% of the site. Comparables 1, 2, 3, and 4 have no easements or submerged lands. All of the comparables are adjusted downward accordingly. Shape While the parent tract is pie shaped. The comparables are all generally rectangular in shape. No adjustments could be supported; therefore, none are made. View The subject and Comparable 5 are both located on small lakes. The subject is located at the end of the lake with a long lake view. Comparables 1, 2, 3, and 4 have no view amenity and are adjusted upward accordingly. Comparable 5 has an inferior shorter length lake view and is adjusted upward accordingly. Page 32 PARCEL NO. 149DE SALES COMPARISON APPROACH Zoning The subject is zoned RMF-6 (Residential Multi -Family) similar to Comparable 5. Comparables 1, 2, 3, and 4 are zoned single family. They are adjusted downward for their superior, less dense, zoning. Sales Comparison Approach Conclusion — Land Valuation All of the value indications have been considered in arriving at my final reconciled per square foot value of $58.00. Land Value Ranges & Reconciled Values Number of Comparables: 5 Unadjusted Adjusted % A Low: $40.33 $49.77 23.41% High: $54.62 $63.88 16.95% Average: $48.80 $56.76 16.32% Reconciled Value/Unit Value: $58.00 Subject Size: 27,228 Indicated Value: $1,579,212 Reconciled Final Value: $1,579,200 Exposure and Marketing Times Exposure time is always presumed to precede the effective date of the appraisal and is the length of time the subject property would have been exposed for sale in the market had it sold on the effective valuation date at the concluded market value. Marketing time is an estimate of the amount of time it might take to sell a property at the estimated market value immediately following the effective date of value. Based on our review of recent sales transactions for similar properties and our analysis of supply and demand in the local retail market it is our opinion that the probable marketing and exposure time for the parent tract is 3 - 6 months. Page 33 PARCEL No. 149DE DESCRIPTION OF PART TAKEN VALUATION ANALYSIS OF PART TAKEN AND REMAINDER PROPERTY DESCRIPTION OF PART TAKEN Parcel No. 149DE is a perpetual, non-exclusive drainage easement. The proposed easement essentially consists of submerged land measured to the top of the bank. According to Collier County, maintenance will be done from the water. The part taken consists of a 7,548 square foot Drainage Easement located along the western border of the parent tract. Land Area: 0.17328 acres; 7,548 square feet Shape: Irregular Approximate Dimensions: Irregular, see sketch and description. Existing Easements and We are not aware of any additional easement, Encumbrances: restrictions, or encumbrances that would adversely affect value before the taking. However, a current title report was not provided for the purpose of this appraisal. Proposed Improvements Taken: The part taken consists largely of submerged lands. The improvements in and near the take include a dock, landscaping and rip rap. According to Collier County, the improvements located within or near the take, including the dock, landscaping and rip rap, will either not be affected, or will be cured by the contractor and are therefore not included in the following analysis. Page 34 PARCEL No. 149DE DESCRIPTION OF PART TAKEN Aerial - Part Taken The approximate boundary lines of Parcel No. 149DE, a perpetual, non-exclusive drainage easement, are shown in blue. �. 1l T3.73 R S-804, CB W � INV IN- INV OUT: / INV O[JT- 4. f / t *owl. ( 1 �eCv IN\, 1 N •..' �- S-801 C INV IN ---- ----- --- —f`- ��- I ""� --- INV IN IN OUT ' I I S-408, C B Type C. 1. � 7 . RIM: 1{3.32 5-009, CB Type C ;INV IN: 6.03 (E) RI)-86(E) 2 INV OUT: 6.63 (W) INV IN: INV INV OUT: 4) INV OL LD-147INCOI LD-1481 TLC�-14°? LD- LD 1150 t- . Page 35 PARCEL No. 149DE DESCRIPTION OF PART TAKEN Sketch and Description of Proposed Part Taken PROPERTY DESCRIPTION A PARCEL OF LAND LYING IN OFFICIAL RECORDS BOOK 5999, PAGE 643, OF THE PUBLIC RECORDS OF COLDER COUNTY, FLORIDA. BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHERLY MOST CORNER OF SAID LANDS, THENCE ALONG THE NORTHEAST UNE OF SAID LANDS SOUTH 40'13'42 EAST, A DISTANCE OF 50.15 FEET; THENCE DEPARTING SAID NORTHEAST UNE SOUTH 59'39'54' WEST, A DISTANCE OF 54.14 FEET; THENCE SOUTH "0'16" WEST, A DISTANCE OF 22.12 FEET, THENCE SOUTH 47'41'50" WEST, A DISTANCE OF 62-35 FEET; THENCE SOUTH 2F26'17" WEST, A DISTANCE OF 38-45 FEET; THENCE SOUTH 32'43'30" WEST, A DISTANCE OF 20-54 FEET; THENCE SOUTH 83'21'09" WEST, A DISTANCE OF 32-82 FEET; THENCE SOUTH 86,11,11" WEST, A DISTANCE OF 30-48 FEET TO AN INTERSECTION WITH THE NORTHWEST LINE OF SAID LANDS; THENCE ALONG SAID NORTHWEST LINE NORTH 44'22'18' EAST, A DISTANCE OF 244.65 FEET TO THE POINT OF BEGINNING, CONTAINING 7.548 SQUARE FEET, MORE OR LESS LINE TABLE LINE # BEARING DISTANCE L1 S 40'13'42` E 5Q-15' L2 S 59'38'54" W 54.14' L3 S 64'41'15" W 22-12' L4 S 47'41'50" W 62.35' L5 S 25'26'17" W 38-45' L6 S 32'43'3Q" W 20-54' L7 5 03-21'09" W 32-a2' L8 S 86-11'11" W 30.48' (OR 5092, PC 189B) 149DE 3 b (OR 5186, PG 1678) N f� I N h J J (OR 5745, cxi NOTES: PC 2785) 1. BEARINGS SHOWN HEREON REFER TO THE STATE PLANE COORDINATE SYSTEM ESTABLISHED BY THE NATIONAL GEODETIC SURVEY FOR FLORIDA EAST ZONE. 1983 DATUM WITH 2O11 ADJUSTMENT OBTAINED USING RTK GPS OBSERVATIONS ON THE e w FDOT NETWORK AND ARE BASED ON THE NORTHWEST LINE OF LANDS DESCRIBED IN OFFICIAL RECORDS BOOK 5999, PAGE `Lry 643, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA, ti 1 h AS BEING N 4422'18" E. +` 2 2. DIMENSICNS SHOWN HEREON ARE IN U.S. SURVEY FEET AND (OR 5999, DECIMALS THEREOF. 3. THIS SKETCH AND DESCRIPTION IS NOT VALID WITHOUT THE (OR 153, PG 643) ORIGINAL SIGNATURE AND SEAL OR THE DIGITAL SIGNATURE AND PG 37) DIGITAL SEAL OF A LICENSED FLORIDA SURVEYOR AND MAPPER. Q NO ADDITIONS OR DELETIDNS TO THIS SKETCH & DESCRIPTION MAP ARE PERMITTED WITHOUT THE EXPRESSED WRITTEN CONSE14T OF THE SIGNING PARTY. ti w in LEGEND: DRAWN BY: AH U 4U„ SU ^ 20'POB POINT OF NNG�EM t7 SCALE: 40' CHECKED BY DLS POINT OF BEEGINPOC — JOB CODE! CNAS OR OFFICIAL RECORDS BOOK PB PLAT BOOR THIS PLAN MAY HAVE BEEN ENLARGED OR SCALE: 1-4P PC PAGE(5) REDUCED FROM INTENDED DISPLAY SCALE N FOR REPRODUCTION REASONS DATE�25 FEBRVARY 2022 W FILE! 21-218-91 `THIS IS NOT SURVEY' SHEET: 1 at 1 SKETCH AND DESCRIPTION W n11 4- Grady MLnor and Associates. P.A. GradyMinor s,3 517E S� D—Id .:g-d by CIJJ�( 13y Boons Springs, Floridal*rlda 54194 PARCEL OF LAND .1ht— Donald L. Salntenoy q #1 IIIL Civil Rngineers Land Surveyors Planners Landscape Architects Oaire'20z2pail3 . . LYING IN — =_ oal&45a4or r—, of .7.6. RR 0005151 Con. 0 Awh-L.H 0005151 IWO—LC 200020s SECTION 22, TOWNSHIP 49 SOUTH. RANGE 25 EAST XW.D L SQA9t AASM � Bonita Sprinss: 239.947.1144 w w W. Gra dyAflo or. V om Fort Myers: 23196904380 COLLIER COUNTY, FLORIDA EL XEN6E167sr 9L1P RE RW CK Page 36 PARCEL NO. 149DE VALUE ANALYSIS PROPOSED PROPERTY RIGHTS AND IMPROVEMENTS TAKEN VALUE ANALYSIS PROPOSED PROPERTY RIGHTS AND IMPROVEMENTS TAKEN The market value of the fee simple interest of the parent tract was previously estimated via the Sales Comparison Approach to have a unit value of $58.00 per square foot. The part taken is valued as part of the whole; therefore, this value will serve as a basis of value for the valuation of the property rights taken. As previously stated, the proposed easement is a perpetual, non-exclusive drainage easement. The proposed easement consists largely of submerged lands with access rights for maintenance. According to Collier County, maintenance will be done from the water. Furthermore, the property owner will be allowed to keep existing dock. Considering the location of the easement in an area that is largely submerged lands, the proposed easement will have minimal effect on the use and utility. Therefore, the proposed easement is estimated to include 10% of the fee simple value resulting in an estimated overall unit value as shown in the following table. Value Indications Proposed Property Rights and Improvements Taken Fee Value per Indicated Value Rounded Square Feet % of Fee per SF Square Feet IndicatedValue Value Total Value Proposed Part Taken Parcel149 Dramge Easement(DE) $58.00 10% $5.80 7,548 $43,778 $43,800 hTrovernents Taken $0 Total $43,800 The valuation of the remainder property, as part of the whole, is shown in the following table. VALUE INDICATIONS REMAINDER PROPERTY, AS PART OF THE WHOLE Market Value of the Parent Tract, Before the Taking: $1,579,200 Less Market Value of the Proposed Part Taken: $43,800 Total Market Value of the Remainder Property, As Part of the Whole: $1,535,400 Effective Date(s) January 28, 2023 Page 37 PARCEL, No. 149DE DESCRIPTION OF REMAINDER PROPERTY AS SEVERED VALUATION ANALYSIS OF REMAINDER PROPERTY AS SEVERED DESCRIPTION OF REMAINDER PROPERTY AS SEVERED The remainder property will consist of the same size and shape as before the taking, since the proposed property rights to be acquired involve a perpetual, non-exclusive drainage easement. However, the remainder property will be encumbered with a 7,548 square foot Drainage Easement along the western border of the parent tract. The remainder property's overall access, availability to utilities, topography, land use designation, and zoning are unchanged. REMAINDER PROPERTY, AFTER THE TAKING Land Area: Total: 0.62506 acres; 27,228 square feet Shape: The parent site is pie shaped. Road Frontage/Access: The remainder property has average access with frontage as follows: • Sperling Lane: 15 feet The site has an average depth of approximately 200 feet. It is not a corner lot. Improvements: The parent tract is improved with a 1,920 square foot single-family home built in 1956 and a 522 square foot single-family home built in 1958. Existing/Proposed Easements and The remainder parcel will be encumbered by a 7,548 Encumbrances: square foot Drainage Easement running along the western border of the parent tract. We are not aware of any additional easement, restrictions, or encumbrances that would adversely affect value before the taking. However, a current title report was not provided for the purpose of this appraisal. Proposed Acquisition: A Drainage Easement (DE) acquisition containing a total of 7,548 square feet or 0.17328 acres. Highest and Best Use As Vacant Residential development As Improved The highest and best use is as currently improved. VALUE ANALYSIS REMAINDER PROPERTY AS SEVERED We are not aware of any easements, restrictions, or encumbrances that would adversely affect value before the taking. However, a current title report was not provided for the purpose of this appraisal. After the taking, there will be a Drainage Easement consisting of 7,548 square feet along the western border of the parent tract. As previously stated, the proposed easement is a perpetual, non-exclusive drainage easement. The proposed easement consists largely of submerged lands with access rights for maintenance. According to Collier County, maintenance will be done from the water. Furthermore, the property owner will be allowed to keep existing dock. Considering the location of the easement in an area that is largely submerged lands, the proposed Page 38 PARCEL NO. 149DE VALUE ANALYSIS REMAINDER PROPERTY As SEVERED easement will have minimal effect on the use and utility. The proposed easement is estimated to include 10% of the fee simple value. Accordingly, the residual value to the proposed easement area is 90% of the fee simple value. Value of Remainder Improvements The parent tract is a residential parcel of land containing an area of 0.62506 acres, or 27,228 square feet. The parent tract is improved with a 1,920 square foot single-family home built in 1956 and a 522 square foot single-family home built in 1958. The parent tract will consist of approximately 0.62506 acres before and after the taking. After the taking, there will be a 7,548 square foot drainage easement located along the southern border of the parcel. The part taken consists largely of submerged lands. The improvements in and near the take include a dock, landscaping and rip rap. According to Collier County, the improvements located within or near the take, including the dock, landscaping and rip rap, will either not be affected, or will be cured by the contractor and are therefore not included in the following analysis. Therefore, the remainder property's improvements will not be damaged after the taking. The improvements located outside the proposed acquisition area are considered to be unaffected by the acquisition. Therefore, the contributory value of those improvements is not reported. The concluded value of the Remainder Property is shown in the following table. Value Indications Remainder Property, After the Taking Fee Value per Indicated Value Rounded Square Feet of Fee per SF SquareFeet IndicatedValue Value Total Value Remainder Property Land Area- Exclusive ofEncumberedLand $58.00 100% $58.00 19,680 $1,141,428 $1,141,400 Taken Plus Encumbered Land $58.00 90% $52.20 7,548 $394,006 $394,000 Improvements $0 Total $1,535,400 Page 39 PARCEL No. 149DE SEVERANCE DAMAGES TO THE REMAINDER PROPERTY SEVERANCE DAMAGES TO THE REMAINDER PROPERTY Severance damages are calculated as the negative difference between the value of the remainder property, as part of the whole, and the value of the remainder property, as severed. When the value of the remainder property, as severed, is less than the value of the remainder property, as part of the whole, the difference is the actual measurement of the damages to the remainder property. When the value of the remainder property, as severed, is greater than the value of the remainder property, as part of the whole, the difference is not damage but is considered a benefit. Severance damages are calculated in the following table. Severance Damages to the Remainder Property Value of the Whole $1,579,200 Less Value of the Part Taken Value of the Remainder Property as Part of the Whole Value of the Remainder Property as Severed Difference (Severance Damages) Rounded: COST TO CURE ANALYSIS $43,800 $1,535,400 $1,535,400 $0 $0 According to Collier County, the improvements located within or near the take, including the dock, landscaping and rip rap, will either not be affected, or will be cured by the contractor and are therefore not included in the following analysis. Based on the analysis of the remainder property, there is no net cost to cure. SPECIAL BENEFITS ANALYSIS Based on the analysis of the remainder property, there are no special benefits. Page 40 PARCEL NO. 149DE SUMMARY AND CONCLUSION SUMMARY AND CONCLUSION Based on the data and analyses developed in this appraisal, I have reconciled to the following value conclusion(s), as of January 28, 2023, subject to the Limiting Conditions and Assumptions of this appraisal. Parcel No. 149DE Fee Value per Indicated Value Rounded Square Feet of Fee per SF Square Feet Indicated Value Value Total Value Parent Tract Before the Taking Land $58.00 100% $58.00 27,228 $1,579,212 $1,579,200 Total $1,579,200 Proposed Part Taken Fee Value per ofFee Indicated Value Rounded Square Feet per SF Square Feet IndicatedValue Value Total Value Parcel149 Drainage Easement (DE) $58.00 10% $5.80 7,548 $43,778 $43,800 hTrovernents Taken $0 Total Part Taken - Drainage Easement $43,800 Remainder Property, as Part of the Whole $1,535,400 Remainder Property LandArea- ExclusiveofEncumberedLand $58.00 100% $58.00 19,680 $1,141,428 $1,141,400 Taken Plus Encumbered Land $58.00 90% $52.20 7,548 $394,006 $394,000 Total $1,535,400 Damages $0 Special Benefits $0 Net Damages $0 Summary of Total Compensation Encumbered Land Taken (Parcel No. 149DE) $58.00 10% $5.80 7,548 $43,778 $43,800 Value of hnprovements Taken $0 Total $43,800 Net Damages $0 Net Cost to Cure $0 Total Amount Due Owner $43,800 The improvements located outside the proposed acquisition area are considered to be unaffected by the acquisition. Therefore, the contributory value of those improvements is not reported. Hypothetical Conditions: In the after analysis, it is a hypothetical condition the proposed acquisition and the proposed drainage improvements have been completed as of the effective date of the appraisal. Extraordinary Assumptions: None. Page 41 PARCEL, No. 149DE CERTIFICATION CERTIFICATION I certify that, to the best of my knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions and conclusions. 3. I have no present or prospective interest in the property that is the subject of this report, and have no personal interest with respect to the parties involved. 4. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 5. Our engagement in this assignment was not contingent upon developing or reporting predetermined results. 6. Our 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. 7. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute. 8. My reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice 9. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. 10. Rachel M. Zucchi, MAI, CCIM has made an inspection of the subject property. 11. No one provided significant real property appraisal assistance to the person signing this certification. 12. We have experience in appraising properties similar to the subject and are in compliance with the Competency Rule of USPAP. Page 42 PARCEL, No. 149DE CERTIFICATION 13. This appraisal is not based on a requested minimum valuation, a specific valuation, or the approval of a loan. 14. We have not relied on unsupported conclusions relating to characteristics such as race, color, religion, national origin, gender, marital status, familial status, age, receipt of public assistance income, handicap, or an unsupported conclusion that homogeneity of such characteristics is necessary to maximize value. 15. Rachel M. Zucchi, MAI, CCIM has not performed any services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding the agreement to perform this assignment 16. As of the date of this report, Rachel M. Zucchi, MAI, CCIM has completed the continuing education program for Designated Members of the Appraisal Institute. Rachel M. Zucchi, MAI, CCIM Florida State -Certified General Real Estate Appraiser RZ2984 rzucchi@rklac.com; Phone 239-596-0801 Page 43 PARCEL No. 149DE ASSUMPTIONS AND LIMITING CONDITIONS ASSUMPTIONS AND LIMITING CONDITIONS This appraisal is based on the following assumptions, except as otherwise noted in the report. 1. The title is marketable and free and clear of all liens, encumbrances, encroachments, easements and restrictions. The property is under responsible ownership and competent management and is available for its highest and best use. 2. There are no existing judgments or pending or threatened litigation that could affect the value of the property. 3. There are no hidden or undisclosed conditions of the land or of the improvements that would render the property more or less valuable. Furthermore, there is no asbestos in the property. 4. The revenue stamps placed on any deed referenced herein to indicate the sale price are in correct relation to the actual dollar amount of the transaction. 5. The property is in compliance with all applicable building, environmental, zoning, and other federal, state and local laws, regulations and codes. 6. The information furnished by others is believed to be reliable, but no warranty is given for its accuracy. This appraisal is subject to the following limiting conditions, except as otherwise noted in the report. 1. An appraisal is inherently subjective and represents our opinion as to the value of the property appraised. 2. The conclusions stated in our appraisal apply only as of the effective date of the appraisal, and no representation is made as to the effect of subsequent events. 3. No changes in any federal, state or local laws, regulations or codes (including, without limitation, the Internal Revenue Code) are anticipated. 4. No environmental impact studies were either requested or made in conjunction with this appraisal, and we reserve the right to revise or rescind any of the value opinions based upon any subsequent environmental impact studies. If any environmental impact statement is required by law, the appraisal assumes that such statement will be favorable and will be approved by the appropriate regulatory bodies. 5. Unless otherwise agreed to in writing, we are not required to give testimony, respond to any subpoena or attend any court, governmental or other hearing with reference to the property without compensation relative to such additional employment. 6. We have made no survey of the property and assume no responsibility in connection with such matters. Any sketch or survey of the property included in this report is for illustrative purposes only and should not be considered to be Page 44 PARCEL No. 149DE ASSUMPTIONS AND LIMITING CONDITIONS scaled accurately for size. The appraisal covers the property as described in this report, and the areas and dimensions set forth are assumed to be correct. 7. No opinion is expressed as to the value of subsurface oil, gas or mineral rights, if any, and we have assumed that the property is not subject to surface entry for the exploration or removal of such materials, unless otherwise noted in our appraisal. 8. We accept no responsibility for considerations requiring expertise in other fields. Such considerations include, but are not limited to, legal descriptions and other legal matters such as legal title, geologic considerations such as soils and seismic stability, and civil, mechanical, electrical, structural and other engineering and environmental matters. 9. The distribution of the total valuation in the report between land and improvements applies only under the reported highest and best use of the property. The allocations of value for land and improvements must not be used in conjunction with any other appraisal and are invalid if so used. The appraisal report shall be considered only in its entirety. No part of the appraisal report shall be utilized separately or out of context. 10. Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraisers, or any reference to the Appraisal Institute) shall be disseminated through advertising media, public relations media, news media or any other means of communication (including without limitation prospectuses, private offering memoranda and other offering material provided to prospective investors) without the prior written consent of the person signing the report. 11. Information, estimates and opinions contained in the report, obtained from third - party sources are assumed to be reliable and have not been independently verified. 12. Any income and expense estimates contained in the appraisal report are used only for the purpose of estimating value and do not constitute predictions of future operating results. 13. If the property is subject to one or more leases, any estimate of residual value contained in the appraisal may be particularly affected by significant changes in the condition of the economy, of the real estate industry, or of the appraised property at the time these leases expire or otherwise terminate. 14. No consideration has been given to personal property located on the premises or to the cost of moving or relocating such personal property; only the real property has been considered. 15. The current purchasing power of the dollar is the basis for the value stated in our appraisal; we have assumed that no extreme fluctuations in economic cycles will occur. 16. The value found herein is subject to these and to any other assumptions or conditions set forth in the body of this report but which may have been omitted from this list of Assumptions and Limiting Conditions. Page 45 PARCEL No. 149DE ASSUMPTIONS AND LIMITING CONDITIONS 17. The analyses contained in the report necessarily incorporate numerous estimates and assumptions regarding property performance, general and local business and economic conditions, the absence of material changes in the competitive environment and other matters. Some estimates or assumptions, however, inevitably will not materialize, and unanticipated events and circumstances may occur; therefore, actual results achieved during the period covered by our analysis will vary from our estimates, and the variations may be material. 18. The Americans with Disabilities Act (ADA) became effective January 26, 1992. We have not made a specific survey or analysis of any property to determine whether the physical aspects of the improvements meet the ADA accessibility guidelines. In as much as compliance matches each owner's financial ability with the cost to cure the non -conforming physical characteristics of a property, we cannot comment on compliance to ADA. Given that compliance can change with each owner's financial ability to cure non -accessibility, the value of the subject does not consider possible non-compliance. A specific study of both the owner's financial ability and the cost to cure any deficiencies would be needed for the Department of Justice to determine compliance. 19. The appraisal report is prepared for the exclusive benefit of the Client, its subsidiaries and/or affiliates. It may not be used or relied upon by any other party. All parties who use or rely upon any information in the report without our written consent do so at their own risk. 20. No studies have been provided to us indicating the presence or absence of hazardous materials on the subject property or in the improvements, and our valuation is predicated upon the assumption that the subject property is free and clear of any environment hazards including, without limitation, hazardous wastes, toxic substances and mold. No representations or warranties are made regarding the environmental condition of the subject property and the person signing the report shall not be responsible for any such environmental conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because we are not experts in the field of environmental conditions, the appraisal report cannot be considered as an environmental assessment of the subject property. 21. The person signing the report may have reviewed available flood maps and may have noted in the appraisal report whether the subject property is located in an identified Special Flood Hazard Area. We are not qualified to detect such areas and therefore do not guarantee such determinations. The presence of flood plain areas and/or wetlands may affect the value of the property, and the value conclusion is predicated on the assumption that wetlands are non-existent or minimal. 22. RKL Appraisal and Consulting, PLC is not a building or environmental inspector. RKL Appraisal and Consulting, PLC does not guarantee that the subject property is free of defects or environmental problems. Mold may be present in the subject property and a professional inspection is recommended. Page 46 PARCEL NO. 149DE ASSUMPTIONS AND LIMITING CONDITIONS 23. The appraisal report and value conclusion for an appraisal assumes the satisfactory completion of construction, repairs or alterations in a workmanlike manner. 24. The intended use of the appraisal is stated in the General Information section of the report. The use of the appraisal report by anyone other than the Client is prohibited except as otherwise provided. Accordingly, the appraisal report is addressed to and shall be solely for the Client's use and benefit unless we provide our prior written consent. We expressly reserve the unrestricted right to withhold our consent to your disclosure of the appraisal report (or any part thereof including, without limitation, conclusions of value and our identity), to any third parties. Stated again for clarification, unless our prior written consent is obtained, no third party may rely on the appraisal report (even if their reliance was foreseeable). 25. All prospective value estimates presented in this report are estimates and forecasts which are prospective in nature and are subject to considerable risk and uncertainty. In addition to the contingencies noted in the preceding paragraph, several events may occur that could substantially alter the outcome of our estimates such as, but not limited to changes in the economy, interest rates, and capitalization rates, behavior of consumers, investors and lenders, fire and other physical destruction, changes in title or conveyances of easements and deed restrictions, etc. It is assumed that conditions reasonably foreseeable at the present time are consistent or similar with the future. Page 47 PARCEL NO. 149DE ADDENDA - APPRAISER QUALIFICATIONS ADDENDA *Rn PARCEL NO. 149DE ADDENDUM A - APPRAISER QUALIFICATIONS ADDENDUM A APPRAISER QUALIFICATIONS *Rn PARCEL NO. 149DE ADDENDUM A - APPRAISER QUALIFICATIONS hkRKi �I�PRAISAL AND CONSULTING RKL Appraisal and Consulting, PLC COMPANY PROFILE: RKL Appraisal and Consulting, PLC was founded in 2009 by three designated Members of the Appraisal Institute. It is our mission to maximize our combined appraisal experience to provide our clients with the highest quality of Real Estate Appraisal and Consulting Services. Rachel M. Zucchi, MAI, CCIM K.C. Lowry, MAI, CPA Louis C. Bobbitt, MAI Partner / Managing Director Partner Senior Partner (Retired) rzucchi@rklac.com klowry@rklac.com lbobbitt@rklac.com BUSINESS FOCUS: Practice is focused on community/neighborhood shopping centers, retail and office buildings, industrial warehouse/distribution buildings, residential and commercial condominium and subdivision projects, hotels and motels, vacant land and special purpose properties. Specialized services include appraisal review, business valuations, market feasibility studies, acquisition/disposition counseling, and litigation support in connection with real estate transactions including bankruptcy, eminent domain, estate valuations, and matrimonial and equitable distribution. Clients served include banks and financial institutions, developers and investors, law firms, government, and property owners. ACHI L M. ZUCCHI, MAI. CCIM 4500 Executive Drive, Suite 230 Naples, FL 34119-8908 C. LOWRY, MAI, CPA Phone: 239-596-0800 0UIS C. BOSBITT, MAI www.rklac.com PARCEL NO. 149DE ADDENDUM A - APPRAISER QUALIFICATIONS PROFESSIONAL QUALIFICATIONS OF Rachel M. Zucchi, MAI, CCIM EXPERIENCE: Partner / Managing Director of RKL Appraisal and Consulting, PLC Naples, FL (2009 — Present) President of D&R Realty Group, Inc. Naples, FL (2009 — Present) Senior Real Estate Analyst, Integra Realty Resources — Southwest Florida Naples, FL (2003 — 2009) Research Associate, Integra Realty Resources — Southwest Florida Naples, FL (2002-2003) PROFESSIONAL Member: Appraisal Institute — MAI Certificate Number 451177 ACTIVITIES: President: Appraisal Institute Florida Gulf Coast Chapter (2020) VP/Secretary/Treasurer: Appraisal Institute Florida Gulf Coast Chapter (2017 - 2019) Region X Representative: Appraisal Institute Florida Gulf Coast Chapter (2017 - 2022) Board of Directors: Appraisal Institute Florida Gulf Coast Chapter (2015 - 2021) Government. Relations: Appraisal Institute National (2022) Prof Standards & Guidance: Appraisal Institute National (2023) LDAC Attendee: Leadership Development & Advisory Council Appraisal Institute - Washington, D.C. (2016, 2017, 2018) Member: CCIM Institute - CCIM Designation Pin Number 21042 Member: Naples Area Board of REALTORS Licensed: Florida State Certified General Real Estate Appraiser License No. RZ 2984 Licensed: Real Estate Broker (Florida) License No. BK3077672 EXPERT WITNESS: Qualified as an expert witness in the Twentieth Judicial Circuit Court of Collier County and Lee County EDUCATION: Bachelor of Arts, Major in Economics Florida Gulf Coast University, 2002 Graduated Magna Cum Laude Presented at Eastern Economic Association Conference Successfully completed real estate and valuation courses and seminars sponsored by the Appraisal Institute and others. BUSINESS FOCUS: Actively engaged in real estate valuation and consulting since 2003. Practice is focused on community/neighborhood shopping centers, retail and office buildings, industrial warehouse/distribution, multi -family and single-family subdivisions, condominium developments, hotels/motels, vacant land and special purpose properties. Specialized services include market feasibility studies and litigation support in connection with real estate transactions. Clients served include banks and financial institutions, developers and investors, law firms, government, and property owners. Valuations have been performed for eminent domain, bankruptcy, estate, matrimonial/equitable distribution, financing, and due diligence support. *Rn PARCEL NO. 149DE ADDENDUM A - APPRAISER QUALIFICATIONS `e... Ron DeSantis, Governor Melanie S. Griffin, Secretary a dbpr STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESTATE APPRAISAL BD THE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THE PROVISIONS OF CHAPTER 475, FLORIDA STATUTES 1� - ZUCCHI, MCHEL M 4500 EXECUTIVE DRIVE SUITE 233 NAPLES FL 34119 x r LICENSE NUMBER: RZ2984� EXPIRATION DATE: NOVEMBER 30, 2024 Always verify licenses online at MyFloridaLicense.com Do not aster this document in any form. This is your license. It is unlawful for anyone other than the licensee to use this document. Rn+ PARCEL NO. 149DE ADDENDUM B - PROPERTY INFORMATION ADDENDUM B PROPERTY INFORMATION +RKL Collier County Property Appraiser Property Summary Site 1377 Site Zone Parcel No 61945480009 Address SPERLING Site City NAPLES *Note 34103 *Disclaimer ILN Map No. Strap No. Section Township Range Acres *Estimated 4A22 506200 069 174A22 22 49 25 0.62 N I C L F 22 49 25 PART LOT 69 PB 2 PG 2 AKA UNREC'D PAR 1 AS DESC IN OR 1863 PG 2063 & OR 1894 PG 2200 Ilage Areas 6 Sub./Condo 506200 - NAPLES IMP CO LITTLE FARMS Use Code 9 8 - MULTI -FAMILY LESS THAN 10 UNIT Latest Sales History (Not all Sales are listed due to Confidentialitvl Date Book -Page Amount 08/13/21 5999-643 $ 0 03/30/19 5614-1128 $ 0 12/05/17 5455-1960 $ 0 09/19/12 4851-2780 $ 250,000 04/15/11 4690-1986 $ 0 04/07/11 4672-2317 $ 141,000 11/04/10 4621-1812 $100 12/19/02 3179-1614 $ 0 09/17/96 2229-1455 $ 176,500 12/01/93 1894-2200 $ 0 09/10/93 1863-2057 $ 0 03/01/91 1601-516 $ 0 Millage Rates v *Calculations School Other Total 4.459 6.0042 1 10.4632 2022 Certified Tax Roll (Subiect to Chanae) Land Value $ 560,790 (+) Improved Value $ 152,515 (_) Market Value $ 713,305 (_) Assessed Value $ 713,305 (_) School Taxable Value $ 713,305 w Taxable Value $ 713,305 If all Values shown above equal 0 this parcel was created after the Final Tax Roll Collier County Property Appraiser Property Detail Site 1377 Site Zone Parcel No 61945480009 Address SPERLING Site City NAPLES *Note 34103 *Disclaimer ILN Name / Address FNIEL G RILEY REV LIV TRUST 1377 SPELLING LANE NAPLES State I FL Permits (Provided for reference ur)oses only. *Full Disclaimer. ) Tax Yr Issuer Permit # CO Date Tmp CO Final Bldg Type 20141 COUNTY PRBD20130408682 2015 COUNTY PRBD20131128161 DOCK 2016 COUNTY PRBD20150514741 09/15/15 SCREEN ENCLOSURE 2023 COUNTY PRFW20220103055 05/02/22 Land # Calc Code Units 10 SQUARE FOOT 21565 20 ACREAGE 0.13 Building/Extra Features # Year Description Area Built Area 10 1958 RESIDENTIAL 522 613 20 1956 RESIDENTIAL ALUM SCREEN 1560 1984 30 2015 144 144 PORCH 16 16 40 1992 SPA 50 2014 WOOD DOCK 208 208 *** INSTR 6114470 OR 5999 PG 643 RECORDED 8/18/2021 3:28 PM PAGES 1 *** CLERK OF THE CIRCUIT COURT AND COMPTROLLER, COLLIER COUNTY FLORIDA Doc@.70 $0.70 REC $10.00 QUIT CLAIM DEED The Grantor, the Arianna and Logan Riley Irrevocable Trust U/A/D January 1, 2019, whose address is 1377 Sperling Lane, Naples, Florida 34103, hereby quit claims to the Daniel G. Riley Revocable Living Trust U/A/D January 23, 2016, whose address is 1377 Sperling Lane, Naples, Florida 34103, all right, title and interest in the following real property situated in Collier County, State of Florida: A PARCEL OF LAND LYING IN THE EAST 1000 FEET OF THE WEST 2295 FEET OF LOT 69, OF THE NAPLES IMPROVEMENT COMPANY'S LITTLE FARMS, PER PLAT IN PLAT BOOK 2, PAGE 2, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA; THE SAID PARCEL, BEING SPECIFICALLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE SOUTH LINE OF THE SAID LOT 69, A DISTANCE OF 1295 FEET EAST OF THE SOUTHWEST CORNER THEREOF, RUN NORTH 88 DEGREES 59' 40" EAST ON THEOJTH LINE FOR 830 FEET, THENCE RUN NORTH 8 DEGREES 36' 20" WEST FOR 71:65 IF T; THENCE RUN NORTH 40 DEGREES 36' 20" WEST FOR 139.17 FEET; THENCEUSOUTH 43 DEGREES 59' 40" WEST FOR 116.02 FEET; THENCE RUN SOUTH 88 DEGREES 59' 40" WEST FOR 340.64 FEET; THENCE RUN SOUTH 58 DEGREES 59' 40"`W TFOR 160.92 FEET; THENCE RUN SOUTH 88 DEGREES 59' 40" WEST FOR 170 FEET; THENCE S 1 DEGREES 7' 10" EAST FOR 15.75 FEET TO THE POINT OF BEGINNING. LESS AND EXCEPTING THATPOTION THEREOF DESCRIBED IN THAT CERTAIN INSTRUMENT RECORDEDOFFAL RECORDS BOOK 153, PAGE 37, OF THE PUBLIC RECORDS OF COLLIE C6, JNTY, FLORIDA. PARCEL NO.: 61945480009 TOGETHER WITH ALL THE TENS THERETO BELONGING TO OR IN Subject to real estate taxes; zoning and use n restrictions and easements common to the su rights, if any. For the sum of Zero dollar ($0.00) Exempt per Florida Administrative Rule 12B-4.013(29)(*). Dated this August _, 2021 ttne ed by: Printed Name: Printed Name: 5 C 0 4- t STATE OF N60RI A- 0,26�E�-b(U COUNTY OF COLLWR 'AMENTS AND APPURTENANCES TAINING. used by governmental authority; outstanding oil, gas and mineral Arianna Riley; Before me, the undersigned authority, personally appeared the within named Grantor, ARIANNA RILEY, with whom I am personally acquainted (or who proved to me on the basis of satisfactory evidence) and who acknowledged that she executed the foregoing instrument for the purposes therein contained. WITNESS my hand and Official Seal in and State a OFFICIAL STAMP DONALD MLLIAM POLLARD NOTARY PUBLIC-OREGON COMMISSION N0. 1007334 MY COMMISSION EXPIRES JANUARY 07, 2025 Notary Public My Commission expires: PROPERTY DESCRIPTION A PARCEL OF LAND LYING IN OFFICIAL RECORDS BOOK 5999, PAGE 643, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHERLY MOST CORNER OF SAID LANDS, THENCE ALONG THE NORTHEAST LINE OF SAID LANDS SOUTH 40'13'42" EAST, A DISTANCE OF 50.15 FEET; THENCE DEPARTING SAID NORTHEAST LINE SOUTH 59'39'54" WEST, A DISTANCE OF 54.14 FEET; THENCE SOUTH 64'41'16" WEST, A DISTANCE OF 22.12 FEET; THENCE SOUTH 47'41'50" WEST, A DISTANCE OF 62.35 FEET; THENCE SOUTH 25'26'17" WEST, A DISTANCE OF 38.45 FEET; THENCE SOUTH 32'43'30" WEST, A DISTANCE OF 20.54 FEET; THENCE SOUTH 83'21'09" WEST, A DISTANCE OF 32.82 FEET; THENCE SOUTH 86'11'11" WEST, A DISTANCE OF 30.48 FEET TO AN INTERSECTION WITH THE NORTHWEST LINE OF SAID LANDS; THENCE ALONG SAID NORTHWEST LINE NORTH 44'22'18" EAST, A DISTANCE OF 244.65 FEET TO THE POINT OF BEGINNING. CONTAINING 7,548 SQUARE FEET, MORE OR LESS. NOTES: 1. BEARINGS SHOWN HEREON REFER TO THE STATE PLANE COORDINATE SYSTEM ESTABLISHED BY THE NATIONAL GEODETIC SURVEY FOR FLORIDA EAST ZONE, 1983 DATUM WITH 2O11 ADJUSTMENT OBTAINED USING RTK GPS OBSERVATIONS ON THE FDOT NETWORK AND ARE BASED ON THE NORTHWEST LINE OF LANDS DESCRIBED IN OFFICIAL RECORDS BOOK 5999, PAGE 643, OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA, AS BEING N 44'22'18" E. 2. DIMENSIONS SHOWN HEREON ARE IN U.S. SURVEY FEET AND DECIMALS THEREOF. 3. THIS SKETCH AND DESCRIPTION IS NOT VALID WITHOUT THE ORIGINAL SIGNATURE AND SEAL OR THE DIGITAL SIGNATURE AND DIGITAL SEAL OF A LICENSED FLORIDA SURVEYOR AND MAPPER. NO ADDITIONS OR DELETIONS TO THIS SKETCH & DESCRIPTION MAP ARE PERMITTED WITHOUT THE EXPRESSED WRITTEN CONSENT OF THE SIGNING PARTY. LEGEND: POO POINT OF COMMENCEMENT POB POINT OF BEGINNING OR OFFICIAL RECORDS BOOK PB PLAT BOOK PG PAGE(S) I? GradyMinor LINE TABLE LINE # BEARING DISTANCE L1 S 40'13'42" E 50.15' L2 S 59'39'54" W 54.14' L3 S 64'41'16" W 22.12' L4 S 47'41'50" W 62.35' L5 S 25*26'17" W 38.45' L6 S 32'43'30" W 20.54' L7 S 83'21'09" W 32.82' L8 S 86' 1 1' 1 1" W 30.48' 149DE P;X\F�' (OR 5186, PG 1678) (OR 5092, PG 1898) (OR 5745, PG 2785) � (OR 5999, (OR 153, PG 643) PG 37) N- V 20 40 )9 LB L7 SCALE: 1 THIS PLAN MAY HAVE BEEN REDUCED FROM INTENDED FOR REPRODUCTION *THIS IS NOT A SURVEY* 80 9 = 40 ENLARGED OR DISPLAY SCALE REASONS DRAWN BY: AH CHECKED BY: DLS JOB CODE: CN015 SCALE: V,=40' DATE: 25 FEBRUARY 2022 FILE: 21-218-SL SHEET: 1 of 1 SKETCH AND DESCRIPTION Q. Grady Minor and Associates, P.A. 3800 Via Del Rey Bonita Springs, Florida 34134 PARCEL OF LAND #16 Civil Engineers Land Surveyors . Planners Landscape Architects LYING IN Cert. ofAuth. EB 0005151 Cert. ofAuth. LB 0005151 Business LC 26000266 SECTION 22, TOWNSHIP 49 SOUTH, RANGE 25 EAST Bonita Springs: 239.947.1144 www. Gra dyMin or, com Fort Myers: 239.690.4380 COLLIER COUNTY, FLORIDA DATE SIGNED Digitally signed by $ Donald L. Saintenoy }Oi III, PSM Date:2022.08.03 08:16:45-04'00' DONALD L. SAINTENOY lll, P.SM FL LICENSE 16761 FOR THE FIRM RKL APPRAISAL AND CONSULTING December 27, 2022 Daniel G Riley REV LIV Trust 1377 Sperling LN Naples, FL 34103-2375 Re: Project #60142 - West Goodlette-Frank Road Area Joint Stormwater- Sewer Project Real Estate Appraisal Parcel 149DE (Drainage Easement) 1377 Sperling LN, Naples Collier County, FL 34103 Dear Daniel G Riley REV LIV Trust: The Collier County Board of County Commissioners, Transportation Engineering Division has engaged RKL Appraisal and Consulting, PLC to appraise the subject property for the West Goodlette-Frank Road Area Joint Stormwater- Sewer Project. Sometime in the next few weeks we will be conducting a field inspection of your property. This will be an exterior inspection only and we will not need to go inside the residence or any outbuildings. Please, contact Rachel Zucchi at rzucchi(ai)rklac.com or 239-596-0801 if there are any pets on the premises or there are any other issues that would preclude the appraiser from inspecting the exterior of the property. This inspection is for the stormwater management Project #60142 - West Goodlette-Frank Road Area Joint Stormwater-Sewer Project. For further information about this project, please contact Mallory Clancy (Project Manager) Stormwater Management, at mallory.clancy&colliercoun , fl.-ov. Thank you for your cooperation and assistance in this matter. Sincerely, Rachel M. Zucchi, MAI, CCIM Partner I Managing Director State -Certified General Real Estate Appraiser R72984 4500 Executive Drive, Suite 230 1 Naples, FL 34119 Direct: 239-596-0801 1 Cell: 239-398-8715 %cc L M. ZUCCHI, MAI, CCIM 4500 Executive Drive, Suite 230 Naples, FL 34119-8908 LowRr, MAI, ceA Phone: 239-596-0800 UIS C. BOBBITT, MAI www.rklac.com PARCEL NO. 149DE ADDENDUM C - COMPARABLE DATA ADDENDUM C COMPARABLE DATA +RKL PARCEL No. 149DE ADDENDUM C - COMPARABLE DATA ID 7677 Date 4/11/2022 Name 1148 Cypress Woods Price $780,000 Drive Address 1148 Cypress Woods Price per SF $54.62 Drive City Naples Transaction Type Closed Sale Grantor Darhl and Erin Ehrgott Financing Cash Grantee Shoreline Capital Partners, Property Rights Fee Simple LLC Tax ID 29731320108 Days on Market 2 Sale Verification Date 1/25/2023 Book/Page or Reference 6112/2588 Sale Verification Source Denys Martinez•, The Real Doc Estate Connection LLC Conditions of Sale Ann's Length Sale Notes Sold in July 2019 for $250,000 Site Acres 0.33 Topography Cleared and Level Land SF 14,280 Zoning RSF-4 (Single Family) Primary Frontage Feet 105 Flood Zone Zone AH Primary Frontage Street Cypress Woods Dr Shape Rectangular Utilities Public Water View None Comments Cleared and level lot along south side of Cypress Woods Drive. Listed in March 2022 for $795,000. Purchased by customhome builder. A notice of commencement for a single family home was recorded in November 2022. *�Rn PARCEL No. 149DE ADDENDUM C - COMPARABLE DATA Trans action ID 7679 Date 5/3/2022 Name 1003 Frank Whiteman Price $1,100,000 Blvd Address 1003 Frank Whiteman Price per SF $54.16 Blvd City Naples Transaction Type Closed Sale Grantor Mitchell Bruce Nicholas, Financing Cash Charles Ernest Nicholas, William Allen Nicholas, and Robert Devon Nicholas Grantee 1003 FWB, LLC Tax ID 64260120009 Days on Market 6 Book/Page or Reference 6124/3095 Doc Conditions of Sale Arm's Length Property Rights Fee Simple Sale Verification Date 1/25/2023 Sale Verification Source John J Robert; John R Wood Sale Notes None in previous 3 years Site Acres 0.47 Topography Cleared and Level Land SF 20,310 Zoning RSF4 (Single Family) Primary frontage Feet 150 Flood Zone Zone AH Primary Frontage Street Frank Whiteman Blvd Shape Rectangular Utilities All Public View None Comments Cleared and level parcel located at northeast corner of Frank Whitman Blvd and loth St N. Listed in March 2022 for $1.2 million. A sewer connection/line was recently brought to the property. The sellers chose the 20-Year Installment method of payment with 18 years remaining at time of sale. Buyer subdivided the lot into three 50' x 135' parcels (Parcels Nos. 64260120009, 64260120054, and 64260120106). Two of the lots were relisted in November 2022 for $599,500 each. *Rn PARCEL No. 149DE ADDENDUM C - COMPARABLE DATA ID 7680 Name 1328 Ridge Street Address 1328 Ridge Street City Naples Grantor Frank Ginocchio individually and as trustee of the FrankC. Ginocchio Survivor's Trust Grantee Katie Werchek Tax ID 71021800001 Days on Market 6 Book/Page or Reference 6131/2389 Doc Conditions of Sale Ands Length Transaction Date 5/ 18/2022 Price $320,000 Price per SF $49.23 Transaction Type Closed Sale Financing Cash Property Rights Fee Simple Sale Verification Date 1/25/2023 Sale Verification Source Thomas Weidlich; Waterfront Realty Group, Inc Sale Notes None in previous 3 years Site Acres 0.15 Topography Largely cleared and Level Land SF 6,500 Zoning RSF-4 (Single Family) Primary Frontage Feet 50 Flood Zone Zone AH Primary Frontage Street Ridge Street Shape Rectangular Utilities All Public View None Comments Largely cleared lot located along south side of Ridge Street with frontage along Rosemary Lane to the south. Listed in March 2022 for $350,000. A sewer connection/line was recently brought to the property. The seller chose the 20-Year Instalhnent method of payment with 18 years remaining at time of sale. Square footage is based on MHK Lot Study dated 3/l/22. *Rn PARCEL No. 149DE ADDENDUM C - COMPARABLE DATA Transaction ID 7681 Date 2/9/2022 Name 2655 14th St N Price $815,000 Address 265514th St N Price per SF $45.63 City Naples Transaction Type Closed Sale Grantor Chetram Singh and Karen Financing Cash Singh Grantee Millchin Properties 14, Property Rights Fee Simple LLC Tax ID 13801160000 Days on Market 64 Sale Verification Date 1/25/2023 Book/Page or Reference 6083/1970 Sale Verification Source Aidan Brennan; Florida Pro Doc Realty Conditions of Sale Arm's Length Sale Notes Sold in May 2020 for $500,000. Site Acres 0.41 Topography Cleared and Level Land SF 17,860 Zoning R1-7.5 (Single Family) Primary Frontage Feet 130 Flood Zone Approx 60% Wetlands Primary Frontage Street 14th St N Shape Rectangular Comments Cleared and level lot located along west side of 14th St N. Lot was listed in Nov. 2021 for $1,099,000 and reduced to $989,000 less than 2 weeks later. *Rn PARCEL NO. 149DE ADDENDUM C - COMPARABLE DATA 11{111D 411. 11V 11 ID 7682 Date 2/ 18/2022 Name 1359 Granada Blvd Price $325,000 Address 1359 Granada Blvd Price per SF $40.33 City Naples Transaction Type Closed Sale Grantor Reggie Lance Smith and Financing Cash Victoria Smith Grantee James Pass alino and Peter Property Rights Fee Simple Witmer Tax ID 63457000001 Days on Market 30 Sale Verification Date 1/25/2023 Book/Page or Reference 6089/3318 Sale Verification Source Andrea Moore; Premiere Plus Doc Realty Co Conditions of Sale Ands Length Sale Notes Sold in December 2021 for $250,000. Site Acres 0.19 Topography Cleared and Level Land SF 8,059 Zoning RMF-6 (Multi -Family) Primary Frontage Feet 75 Flood Zone None Primary Frontage Street Granada Blvd Shape Rectangular MOL Comments Cleared and level lot along north side of Granada Blvd with rear frontage on small lake. Lot was listed in Dec. 2021 for $349,000. Survey shows an 8' wide drainage easement (Collier County) along the western border of the lot encumbering 920 SF. Adjacent lot (1371 Granada Blvd) that is slightly larger (8,088 SF) was also listed for $349,900 and was purchased by the same buyer in Feb. 2022 for $330,000. The adjacent lot is not encumbered by an easement.