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Agenda 07/27/2010 Item #16A31Agenda !'f.;m No. 16A31 July 27, 2010 Page 1 of 16 EXECUTIVE SUMMARY Recommendation to approve the purchase of a Perpetual, Non - Exclusive Road Right -of- Way, Drainage and Utility Easement (Parcel No. 238RDUE) which is required for the construction of the proposed four - laning improvements to Golden Gate Boulevard from just west of Wilson Boulevard to just east of DeSoto Boulevard. Project No. 60040 (Fiscal Impact: 55,215.00). OBJECTIVE: To obtain the approval of the Board of County Commissioners for the purchase of a Perpetual Non - Exclusive Road Right -of -Way, Drainage and Utility Easement which is required for the construction of the proposed four - laning improvements to Golden Gate Boulevard. CONSIDERATIONS: Parcel No. 238RDUE (a legal description and sketch of which is attached hereto) contains 7095 square feet and is located on the south side of Golden Gate Boulevard between Wilson Boulevard and Desoto Boulevard. The parent tract property is owned by Christopher DiFabio and Fred DiFabio. Using the most recent, comparative sales data, the Division of Transportation's Review Appraiser, Harry Henderson, SRA, prepared an appraisal of the easement area estimating its current market value including improvements in the easement area at $2,551.00 (the appraisal is attached and is based on $10,500.00 per acre). The current / 2009 assessed value, including improvements, of the needed easement area is $4,915.00 ($25,000 per acre). On June 11, 2010, Growth Management staff mailed a letter to the owners inviting them to call to discuss the sale of the required easement to the County. The owners responded within a few days and requested information on current land values and inquired what the County was willing to pay. Through continued negotiations and after staff provided the owners with information on current market values and the current 2009 assessed values, the owners have agreed to sell the required easement to Collier County for the purchase price of $4,915.00 (at the exact current / 2009 assessed value). Staff is recommending that the Board of County Commissioners purchase the required easement area from Christopher DiFabio and Fred DiFabio for the purchase price of $4,915.00, and believes the following are compelling reasons to do so. This is not a distress sale. The property owners can afford to hold out and wait for the market to improve. If we should delay this acquisition for several years until construction is imminent, and be forced to take the easement through condemnation, the cost of doing so would far exceed the owners' asking price. In addition, the owners are cooperating with staff so there are no expert or attorney fees. Aaecda Item No, 15A31 July 27, 2010 Page 2 of '16 Moreover, if we should forestall this purchase and the market begins to rebound, in three to five years we are likely going to be paying as much or more for the subject property than the owners are seeking today. It is a common expectation of property owners upon the sale of their property to the government, to be paid at least the value upon which they were taxed by the government. The easement agreement was negotiated at the current / 2009 assessed value prior to the publishing of the preliminary 2010 assessed values on July 15th. FISCAL IMPACT: The fiscal impact is $5,215.00 and includes the $4,915.00 as the negotiated price of the easement; plus title search, title insurance and recording fees not to exceed $300.00. Source of funds will be paid from road impact fees. LEGAL CONSIDERATIONS: This item has been reviewed and approved by the County Attorney and is legally sufficient for Board approval. -JAK GROWTH MANAGEMENT IMPACT: This project is consistent with the Long Range Transportation Plan and the Collier County Growth Management Plan. RECOMMENDATION: Based on the above considerations, Transportation staff is recommending that the Board of County Commissioners of Collier County: 1. Approve the attached Easement Agreement and authorize its Chairman to execute same on behalf'of the Board once a properly executed Agreement has been received from the property owner and reviewed and approved by the office of the County Attorney; 2. Accept the conveyance of Parcel No. 238RDUE to Collier County and authorize the County Manager, or his designee, to record same in the public records of Collier County, Florida; 3. Authorize the payment of all costs and expenses necessary to close the transaction; 4. Authorize the County Manager, or his designee, to take the necessary measures to ensure the County's performance in accordance with the terms and conditions of the Agreement; and 5. Approve any and all budget amendments which may be required to carry out the collective will ofthe Board. Prepared by: Joan M. Smith, sRiwA, Senior Property Acquisition Specialist, Right -of -Way Acquisition, Growth Management Division, Capital Construction and Maintenance, Transportation Engineering Attachments: (1) Easement Agreement with "Exhibit A "; (2) Property Location Map; (3) Appraisal Report; (4) 2009 Final Tax Roll Agenda Item No. 16A31 July 27, 2010 Page 3 of 16 COLLIER COUNTY BOARD OF COUNTY COMWSSIONERS Item Number: 16A31 Item Summary: Recommendation to approve the purchase of a Perpetual. Non - Exclusive Road Right -of- Way, Drainage and Utility Easement (Parcel No 238RDUE) which is required for the construction of the proposed four - laning improvements to Golden Gate Boulevard from just west of Wilson Boulevard to just east of De Soto Boulevard. Project No 60040 (Fiscal Impact: $5,215.00). Meeting Date: 7/27,12010 9.00:00 AM Prepared By Joan Smith Property Acquisition Specialist, Senior Date Transportation Engineering & Transportation Division 718!2010 9:02:28 AM Construction Management Approved By Jeff Klatzkow County Attorney Date 7/812010 10:45 AM Approved By Najeh Ahmad Director - Transportation Engineering Date -.-. Transportation Engineering & Transportation Division Construction Manaoement 7/12/2010 9:50 AM Approved By Gary Putaansuu Project Manager, Principal Date Transportation Engineering & Transportation Division Construction Management 7112120101:13 PM Approved By Lisa Taylor Management /Budget Analyst Date Transportation Division Transportation Administration 7!12/2010 2:10 PM Approved By Nick Casalanguida Director - Transportation Planning Date Transportation Division Transportation Planning 7/1212010 4:22 PM Approved By Kevin Hendricks Manager - Right of Way Date Transportation Engineering & Transportation Division Construction Management 7!12/2010 5:35 PM Approved By -. —. Nrrm E. Feder. t,!CP Adminstrator - Transportation Date Transportation Division Transportation Administration 711312010 1:37 Phil Approved By Natoli Betancur Transportation Division Administrative Assistant Transportation P.oed Maintenance Agenda Item No. 1>A31 July 27, 2010 Page 4 of 16 Date 711412010 1:00 PM Approved By OMB Coordinator Date County Manager's Office Office of Management & Budget 7/1412010 1:34 PM Approved By Susan Usher ManaaementlBudnet Analvst. Senior Date Office of Management & Office of Management & Budget 7/19/2010 9:43 AM Budget Approved By Mark lsackson Management/Budget Analyst, Senior Date Office of Management & Budget Office of Management & Budget 7/1912010 10 1 B AM Agenda Item No. 16A31 July 27, 2010 Page 5 of 16 PROJECT: Golden Gate Blvd. #60040 PARCEL No(s): 238RDUE FOLIO No(s): 39210320004 EASEMENT AGREEMENT THIS EASEMENT AGREEMENT (hereinafter referred to as the "Agreement ") is made and entered into on this day of 20_, by and between CHRISTOPHER DIFABIO, an unmarried man and FRED DIFABIO, an unmarried man, whose mailing address is 1510 Golden Gate Boulevard, East, Naples, Florida 34120 -3612, (hereinafter collectively referred to as "Owner "), and COLLIER COUNTY, a political subdivision of the State of Florida, whose mailing address is 3301 Tamiami Trail East, Naples, Florida 34112 (hereinafter referred to as "Purchaser "). WHEREAS, Purchaser requires a Perpetual, Non - Exclusive Road Right -of -Way, Drainage and Utility Easement over, under, upon and across the lands described in Exhibit "A ", which is attached hereto and made a part of this Agreement (hereinafter referred to as the "Easement "); and WHEREAS, Owner desires to convey the Easement to Purchaser for the stated purposes, on the terms and conditions set forth herein; and WHEREAS, Purchaser has agreed to compensate Owner for conveyance of the Easement. NOW THEREFORE, in consideration of these premises, the sum of Ten Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby mutually acknowledged, it is agreed by and between the parties as follows: 1. All of the above RECITALS are true and correct and are hereby expressly incorporated herein by reference as if set forth fully below, and all Exhibits referenced herein are made a part of this Agreement. Owner shall convey the Easement to Purchaser for the sum of: $4,915.00 subject to the apportionment and distribution of proceeds pursuant to Paragraph 9 of this Agreement (said transaction hereinafter referred to as the "Closing "). Said payment to Owner, payable by County Warrant or funds wire transfer, shall be full compensation for the Easement conveyed, including all landscaping, trees, shrubs, improvements, and fixtures located thereon, and shall be in full and final settlement of any damages resulting to Owner's remaining lands, costs to cure, including but not limited to the cost to relocate the existing irrigation system and other improvements, and the cost to cut and cap irrigation lines extending into the Easement, and to remove all sprinkler valves and related electrical wiring, and all other damages in connection with conveyance of said Easement to Purchaser, including all attorneys' fees, expert witness fees and costs as provided for in Chapter 73, Florida Statutes. 3. Prior to Closing, Owner shall obtain from the holders of any liens, exceptions and /or qualifications encumbering the Easement, the execution of such instruments which will remove, release or subordinate such encumbrances from the Easement upon their recording in the public records of Collier County, Florida. At or prior to Closing, Owner shall provide Purchaser with a copy of any existing prior title insurance policies. Owner shall cause to be delivered to Purchaser the items specified herein and the following documents and instruments duly executed and acknowledged, in recordable form (hereinafter referred to as "Closing Documents ") on or before the date of Closing: (a) Road Right -of -Way, Drainage and Utility Easement; (b) Closing Statement, Agenda Item No. 16A31 Page 2July 27, 2010 Page 6 of 16 (c) Grantor's Non - Foreign, Taxpayer Identification and "Gap" Affidavit; (d) W -9 Form; and (e) Such evidence of authority and capacity of Owner and its representatives to execute and deliver this agreement and all other documents required to consummate this transaction, as reasonably determined by Purchaser, Purchaser's counsel and /or title company. 4. Both Owner and Purchaser agree that time is of the essence. Therefore, Closing shall occur within ninety (90) days from the date of execution of this Agreement by the Purchaser, provided, however, that Purchaser shall have the unilateral right to extend the term of this Agreement pending receipt of such instruments, properly executed, which either remove or release any and all such liens, encumbrances or qualifications affecting Purchaser's enjoyment of the Easement. Such right to extend may be exercised by the County Manager or his designee for an additional term not exceeding ninety (90) days without further Board action. All additional extensions must be Board approved. At closing, payment shall be made to Owner in that amount shown on the Closing Statement as "Net Cash to the Seller," and Owner shall deliver the Closing Documents to Purchaser in a form acceptable to Purchaser. 5. Owner agrees to relocate any existing irrigation system located on the Easement including irrigation lines, electrical wiring and sprinkler valves, etc., prior to the construction of the project without any further notification from Purchaser. Owner assumes full responsibility for the relocation of the irrigation system on the remainder property and its performance after relocation. Owner holds County harmless for any and all possible damage to the irrigation system in the event owner fails to relocate the irrigation system prior to construction of the project. If Owner elects to retain improvements and /or landscaping ( "Improvements ") located on the Easement, the Owner is responsible for their retrieval prior to the construction of the project without any further notification from Purchaser. Owner acknowledges that Purchaser has compensated Owner for the value of the Improvements and yet Purchaser is willing to permit Owner to salvage the Improvements as long as their retrieval is performed before construction and without interruption or inconvenience to the County's contractor. All Improvements not removed from the Easement prior to commencement of construction of the project shall be deemed abandoned by Owner. This provision shall survive Closing and is not deemed satisfied by conveyance of title. Owner and Purchaser agree to do all things which may be required to give effect to this Agreement immediately as such requirement is made known to them or they are requested to do so, whichever is the earlier. 7. Owner agrees, represents and warrants the following: (a) Owner has full right, power and authority to own and operate the property underlying the Easement, to enter into and to execute this Agreement, to execute, deliver and perform its obligations under this Agreement and the instruments executed in connection herewith, to undertake all actions and to perform all tasks required of Owner hereunder and to consummate the transaction contemplated hereby. (b) Purchaser's acceptance of the Easement shall not be deemed to be full performance and discharge of every agreement and obligation on the part of Owner to be performed pursuant to the provisions of this Agreement. (c) No party or person other than Purchaser has any right or option to acquire the Easement or any portion thereof. Agenda Item No. 16A31 Page 3July 27, 2010 Page 7 of 16 (d) Until the date fixed for Closing, so long as this Agreement remains in force and effect, Owner shall not encumber or convey any portion of the property underlying the Easement or any rights therein, nor enter into any agreements granting any person or entity any rights with respect to the Easement, without first obtaining the written consent of Purchaser to such conveyance, encumbrance, or agreement, which consent may be withheld by Purchaser for any reason whatsoever. (e) There are no maintenance, construction, advertising, management, leasing, employment, service or other contracts affecting the Easement. (f) Owner has no knowledge that there are any suits, actions or arbitration, administrative or other proceedings or governmental investigations or requirements, formal or informal, existing or pending or threatened which affect the Easement or which adversely affect Owner's ability to perform hereunder; nor is there any other charge or expense upon or related to the Easement which has not been disclosed to Purchaser in writing prior to the effective date of this Agreement. (g) Purchaser is entering into this Agreement based upon Owner's representations stated in this Agreement and on the understanding that Owner will not cause the physical condition of the property underlying the Easement to change from its existing state on the effective date of this Agreement up to and including the date of Closing. Therefore, Owner agrees not to enter into any contracts or agreements pertaining to or affecting the property underlying the Easement and not to do any act or omit to perform any act which would adversely affect the physical condition of the property underlying the Easement or its intended use by Purchaser. (h) The property underlying the Easement, and all uses of the said property, have been and presently are in compliance with all Federal, State and Local environmental laws, that no hazardous substances have been generated, stored, treated or transferred on the property underlying the Easement except as specifically disclosed to the Purchaser; that the Owner has no knowledge of any spill or environmental law violation on the property contiguous to or in the vicinity of the Easement to be sold to the Purchaser, that the Owner has not received notice and otherwise has no knowledge of: a) any spill on the property underlying the Easement; b) any existing or threatened environmental lien against the property underlying the Easement, or c) any lawsuit, proceeding or investigation regarding the generation, storage, treatment, spill or transfer of hazardous substances on the property underlying the Easement. This provision shall survive Closing and is not deemed satisfied by conveyance of title. 8. Owner shall indemnify, defend, save and hold harmless the Purchaser against and from, and reimburse the Purchaser with respect to, any and all damages, claims, liabilities, laws, costs and expenses (including without limitation reasonable paralegal and attorney fees and expenses whether in court, out of court, in bankruptcy or administrative proceedings or on appeal), penalties or fines incurred by or asserted against the Purchaser by reason or arising out of the breach of any of Owner's representations under paragraph 7(h). This provision shall survive Closing and is not deemed satisfied by conveyance of title. 9. Purchaser shall pay all fees to record any curative instruments required to clear title, and all Easement instrument recording fees. In addition, Purchaser may elect to pay reasonable processing fees required by mortgagees in connection with the execution and delivery of a Release or Subordination of any mortgage, lien or other encumbrance recorded against the property underlying the Easement; provided, however, that any apportionment and distribution of the full compensation amount in Paragraph 2 which may be required by any mortgagee, lien- holder or other encumbrance - holder for the protection of its security interest, or as consideration due to any diminution in the value of its property right, shall be the responsibility of the Agenda Item No. 16A31 Page Ouly 27, 2010 Page 8 of 16 Owner, and shall be deducted on the Closing Statement from the compensation payable to the Owner per Paragraph 2. 10. There shall be deducted from the proceeds of sale all prior year ad valorem taxes and assessments levied against the parent tract property which remain unpaid as of the date of Closing. 11. This Agreement and the terms and provisions hereof shall be effective as of the date this Agreement is executed by both parties and shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, personal representatives, successors, successor trustees, and /or assignees, whenever the context so requires or admits. 12. If the Owner holds the property underlying the Easement in the form of a partnership, limited partnership, corporation, trust or any form of representative capacity whatsoever for others, Owner shall make a written public disclosure, according to Chapter 286, Florida Statutes, under oath, subject to the penalties prescribed for perjury, of the name and address of every person having a beneficial interest in the property underlying the Easement before the Easement held in such capacity is conveyed to Purchaser. (If the corporation is registered with the Federal Securities Exchange Commission or registered pursuant to Chapter 517, Florida Statutes, whose stock is for sale to the general public, it is hereby exempt from the provisions of Chapter 286, Florida Statutes.) 13. Conveyance of the Easement, or any interest in the property underlying the Easement, by Owner is contingent upon no other provisions, conditions, or premises other than those so stated herein, and this written Agreement, including all exhibits attached hereto, shall constitute the entire Agreement and understanding of the parties, and there are no other prior or contemporaneous written or oral agreements, undertakings, promises, warranties, or covenants not contained herein. No modification, amendment or cancellation of this Agreement shall be of any force or effect unless made in writing and executed and dated by both Owner and Purchaser. 14. Should any part of this Agreement be found to be invalid, then such invalid part shall be severed from the Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and not be affected by such invalidity. 15. This Agreement is governed and construed in accordance with the laws of the State of Florida. IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written. AS TO PURCHASER: DATED: ATTEST: DWIGHT E. BROCK, Clerk Deputy Clerk BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY. FLORIDA go FRED W. COYLE, Chairman AS TO OWNER: DATED: Witness (Signature) Name (Print or Type) Witness (Signature) Name (Print or Type) Witness (Signature) Name (Print or Type) Witness (Signature) Name (Print or Type) Approved as to form and legal sufficiency: Assistant County Attorney Las[ Revised- 6118/10 CHRISTOPHER DIFABIO FRED DIFABIO Agenda Item No. 16A31 Page 5July 27. 2010 Page 9 of 16 w r +! n ILA r :.-- LAND APPRAISAL REPORT Main File No , l e 1 . 1 6A31 r� II I Fee No. Parcel238db)& 27, 2010 1of16 Borrower Owner: DiFabio Census Tract 112.02 Map Reference S11 T49 -R27 Property Address 1510 Golden Gate Blvd E. _ City Naples County Collier State. FL Zip Code 34120 Legal Description Golden Gate Estates Unit 48 W 165ft of Tract 134 Sale Price $ N/A Date of Sale NIA Loan Term N/A _ yrs. Property Rights Appraised fX Fee ❑leasehold LL De Minutes PUD Actual Real Estate Taxes S ¢ A86 59 (yr) Lean charges to be paid by seller $ N/A Other sales concessions N/A Lendel/Client Collier County Gov/Transportation Divienj Address 2885 South Horseshoe Drive, Naples FL 34104 Occupant owner Appraiser Harry Henderson SRA _ Instructions to Appraiser Estimate Market Value Parent Tract/Padial Take Folio #39210320004 subject is ire roved with a sin le -famy home: valuation of land and affected improvements only, Location ; Urban ! Suhuman Rural Built Up Over 75% ❑25 %to75% Under 25% Good Avg. Fair Poor Employment Stability ❑ ❑',Z ❑ Growth Rate Polly Day. ! Rapid I Steady ❑ Slow Convenience to Employment ❑ Z '❑ i,-1 Progeny Values Increasing [ Stable ?; Declining L Convenience to Shopping / IL I_ I Demand /Supply Shortage In Balance ,❑oversupply Convenience to Schools ❑ ❑ ❑ Marketing Time L, Under 3 Mos. L 4 -6 Mos. '❑' Over 6 Mos. Adequacy of Public Transportation J ❑ ❑ Present Land Use 60 %1 Family _ %24Family _% Acre —9d Condo 5% Commercial Recreational Facilities I❑ ❑ ❑ %Induchlal 35% Vacant _ -% _ Adequacy 0l UAGbes -1 ❑I ❑ ❑I • Change in Present Land Use ❑ Not Likely ❑ Likely (') i _'i Taking Place (') Property Compatibility J Z 1.1 ❑ (`) From vacant To apple- familly Protection from Detrimental Conditions ❑ 'Z ❑ ❑ Predominant Occupancy [7�j Owner L Tenant _ %Vacant Police and Fire Protection ❑ X El F-1 Single Family Price Range $ 80.000 to $ 340,000 Predominant Value $ 150 OOy 0 General Appearance of Properties ❑ ❑ L' Single Family Age 1 one to 30 yrs- Predominant Age _,. 10 yrs. _L Appeal to Market IL ❑ ❑ L noise).See attached addenda. Comments including those factors, favorable or unfavorable, affecting marketability (so _ public parks, schools, view, Dimensions 165 x 680 = 2.58 Sp. Fl. or Acres Corner Let Zoning classification Estates (2.25 acre conforming lot size min.) Present Improvements C do Lj do not conform to Zoning regulations Highest and best use ❑ Present use - _ I Other (specify - Public Other (Describe) OFF SITE IMPROVEMENTS Tope Level Else. Steel Access IF Public L f Private Size Compatible with a_r_ea __ __ Gas L Surface Macadam Shape Rectangular Water J Maintenance Fji Pubic j I Private Viev Neighborhood San. Sewer h [ I, Storm Sewer L Curb /Guitar Drainage Appears to be adequate Underground Elect. &Tel. isidewalk ___j- Street Lights Is the property located in a HUD identified Special Flood Hazard Area? %j NO,_, Yes Comments (favorable of unfavorable Including any apparent adverse easements encroachments or ether adverse conditions)'. Zone ID. Comm #120067CO250G, did 11 /17/05 No adverse conditions observed. Typical roadway-and /or parameter utility easements exist on the site: these are common in the area and do not impact value___.___ The undersigned has recited three recent sales of progenies most similar and proximate to subject and has considered these it the market analysis- The description Includes a dollar adjustment reflecting market reaction to those items of significant variation between the trust and comparable prepay id If a simucant arm in the comparable pmpedy is superior to or more favorable Iliad the subject proper, a minus ( -I adjustment is made thus reducing the Indicated value of subject: If a eignlllcant ilem in the comparable Is interl0r to or less favorable than the subject property, a plus ( +) adjustment is made thus increasing the indicated value of the subject —ITEM --L SUBJECT PROPERTY _ COMPARABLE NO 1_ COMPARABLE NO 2 COMPARABLE 3 Address 1510 Golden Gate Blvd E. _ _ _ S/S of Gen Avenue NE _ W/S of 12th Street SE ,NO. S/S of 4th Avenue NE Na hoes. FL 34120 Naples, FL 34120 Naples, FL 34120 Naples. FL 34120 Proximity to Subject 0.49 miles N 1.94 miles W 1.82 miles SW Sales Price $ N/A 10.0881ac 10252/ac IS 11.894/ac Price Gross $ Is 16,300 27,000 Data Source MLS #209035064 MLS 4207012555 MLS #209024974 Date of Sale and DESCRIPTION DESCH PTIQN IS Adjust DFSCRIPTION + - Ad ust DESCRIPTION + - S Adjust, Time Adjustment N/A 2110 11/09 12/09 Location GGE Similar Similar Similar Site/View 2.58 acres 1.14 acres m $ /ac 1.59 acres_ in $lac 2.27 acres in $ /ac Topography Level /natural Level /natural Level /natural _ Levelmatural Zoning Estates Estates Estates Estates Sales or Boarding N/A Cash or Equiv. Cash or Equiv. '. Cash or Equiv. , Concessions Net Ad QF al —, + j - - $ _. _ ( $ — ... $ Indicated Value el Subject $ 10.088 IS 10.252 $ 11.894 Comments an Market Data'. See attached addenda. Comments and Conditions of Appraisal'. Subject and co_ m_ps are compared an a $ /acre unit price basis. Parent tract Land Value. 2.58 acres x $10,500 /acre = $27,090. See attached Limiting Conditions. Final Reconciliation Taking Qarcel: .163 acres x$10.500 =$1711 _ Minor Site Ion ments -$840 Total Compensation_ 2$ ,551 I ESTIMATE THE MARKET VALUE, AS DEFINED, OF SUeJEGT PRUPERTT AS OF Macy_26_ 2010 to tl¢ S 2.5$1 Harry Henderson BRA _ IL Did _ Did Net Physically Inspect Property Appraisers Review Appraiser if applicable Y2K) Collier County Government Form LND — "WinTOTAL" appraisal software by a Is made, Ina.— 1- SDD- ALAMODE Supplemental Addendum Main File NO. a w. - 16A31 File No Parcel 238RDUE July 27, 2010 Borrower /Client Owner: D,Fabi 12 Of "I 6 o Property Address 1510 Golden Gale Blvd E. _ C Na les County Collier State FL Zip Code 34120 Lender Collier County Gov(Transportation Division • Land : Neighborhood Market Factors The subject is located in the central part of unincorporated Collier County in the Golden Gate Estates area on Golden Gate Boulevard. Golden Gate Estates is a sprawling pre - platted subdivision consisting of acreage -type single - family homesiles (1.14 to 5 acres typically) in a semi -rural setting. Essential services are within a 30 minute drive into greater Naples to the west. Maintenance levels in the area are generally average. • Land : Market Data The subject and comps are compared on a molprice ($ /acre) basis. This method eliminates the need for direct size adjustments. The sales cited are all Estates zoned lands located in the general vicinity of the subject. The overall real estate market has been in decline since late 2005 and remains exceptionally weak.; the Estates market has been especially soft due to a severe supply- demand imbalance in this area The sales cited are relatively recent transactions', no time adjustments have been applied in order to give property owner's every benefit of the doubt. The indicated unit prices range from $10,088 /acre to $11,894 /acre; given the comparison criteria discussed, a unit price of $10,500 /acre is selected as reasonable for the underlying unit /price value for the parent tract lands. Parcel 238ROUE The subject parcel is a 43 fl -wide ROW strip located on the north side of the parent tract along Golden Gate Boulevard. The size of the taking parcel is 7,095 sf or .163 acres. At the appraised unit /price of $10,500 /acre the subject parcel has a direct land value of $1,711. The taking parcel also includes various minor site improvements (driveway material, minor landscape items): thecontributory value of these site improvements is $840. The Total Appraised Compensation associated with the taking of parcel 238RDUE is estimated to be: $2,551. Form TADD — "AnTOTAL" appraisal software by a la made, inc. — 1 -8DO ALAM00F [main File No. BartGgl,7.gagpl�F,ep 16A31 rryv G July 27, 2010 Page 13 of 16 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is net affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby (1) buyer and seller are typically motivated', (2) both pares are well informed or well advised, and each acting In what he considers his awn best interest (3) a reasonable died is allowed for exposure in the open market, (4) payment is made in terms of cash in U S. dollars or to terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions` granted by anyone associated with the sale. Adjustments to the comparable& must be made for special or creatve financing or sales concessions- No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law In a market area', these costs are readily identifiable since the seller pays these costs In virtually all sales transactions- Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms Offered by a third party Institutional lender that Is not already Involved In the directory Or transaction, Any adjustment should not he calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgement . STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal repel is subject to the following spectral 1, The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it The appraiser assumes that the title is good and marketable and therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the header of the raper in visualizing the property and understanding the appraiser's determination of its size - 3. The appraiser has examined the available flood maps that are provided by the Federal Fmergency Management Agency (or other data sources) and has noted in the appraisal eased whether the subject site is located in an tdemifled Special Flood Hazard Area Because the appraiser Is not a surveyor, he or she makes no guarantees, express orimighl regarding this determination. — 4. The appraiser will not give testimony or appear in caul because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value at the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations Of the land and improvements must not be used in conjunction with any other appraisal and are invalid If they are so used 6- The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, tout substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research involved In perarming the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or norma rent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc) that would make the property more Or less valuable, and has assumed that there are no such conditions and makes no guarantees he warranties, express or implied, regarding the condition at the property. The. appraiser will not be responsible for any such conditions that do east or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment Of the property . 7. The appraiser obtained the information. estimates and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were Widened by other parties. 6. The appraiser will net disclose the contents of the appraisal report except as provided for in the Uniform standards of Professional Appraisal Practice- 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject N satisfactory completion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmandke manner. 16. The appraiser must provide his or her drier written consent before the snder;chent specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associatetll to anyone other than the borrower the mortgagee or its successors and assigns', the mortgage insurer consultants, professional appraisal organizations, any state or federally approved financial resulmtlon, or any department agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender /client may diamond the property description section of the repaid only to data collection or reporting service(s) without having to obtain the appraiser's prior sullen consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising . public relations news, sales, or other media. Freddie Mac Form 439 6 -93 Page I of 2 Fannie Mae Form 1004B 6 -93 Collier County Government Form APR — "WInTOTAL" appraisal software by a Is mode, do —1 -800 ALAMODE Main File NO_RarGOF ilV e _ 16A31 July 27, 2010 Page 14 c)f 16 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees loaf. 1. 1 have researched the subject market area and have selected a minimum of three recent sales of contents most similar and proximate to the subject property for consideration In the sales cemparlsoe analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those Items of significant varomon. If a significant item in a comparable prop", is superior to, or more tovorable than. the subject property, I have made a negative adjustment to reduce the adjusted sales price of the comparable and if a significant item In a comparable propely is derior to or less favorable Iran the subject properly, I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. have taken Into consideration the factors that have an impact on value in my development of the estimate at market value in the appraisal report. I nave not knowingly withheld any significant internal from the appraisal report and I believe_ to me best of my knowledge, that all statements and reprmahon in the appraisal report are true and correct. 3. i stated in the appraisal report only my own personal unbiased, and professional anaysis. opinions, and conclusions, which are subject only N the contingent and limiting conditions specified in this form. 4. 1 have no present or prospective interest in the property that is the subject td this report , and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis andmr the estimate of market value in the appraisal report on the race, color, religion, sex handicap familial status. or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the counties to the vicinity of the subject property. 5. I have no present or contemplated future interest In the subject property neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of me property. 6. 1 was net required 10 report a predetermined value of direction In value that favors the cause of the client or any related patty, the amount of the value disposal the attainment of a specific resur or the occurrence of a subsequent event in order to receive my compensation stager employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specific valuation. or the need to approve a specific mortgage loan. 7. 1 performed this appraisal in conformity with the uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Slaneams Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time fat exposure in the open market is a embedded in the definition of market value and the estimate I developed is consistent with the marketing time anted in the neighborhood section of this report. unless I have otherwise stated in the reconciliation section_ 8. 1 have personally inspected the interior and exterior areas of the subject property and the anchor of all properties listed as cemparables in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site. or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to supped them. I have also commented about the effect of me, adverse conditions on the, mametabiliTy of the subject property. 9. 1 personally prepared all conclusions and opinions about the real estate that were set Forth in the appraisal report. If I relied pit significant professional assistance from any individual or individuals in the performance of the appraisal or the pmparation of the appraisal report, I nave named such individual(s) and disclosed the specific tasks performed by them in the reconchiation section of this appraisal report . I certify that any individual so named is qualified to perform the tasks. I have not command anyone to make a change to any item In the repel measure, IF an nnaumnrieer change to made to the appraisal repen, I will take no responsibility tot it SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report of or she cooties one agrees sat. I directly supervise the appraiser who prepared the appraisal repen, have reviewed the appraisal polar. agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's semaphores numbered 4 through 7 above. and am taking fun responsibility tar the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 1510 Golden Gate Blvd E., Naples, FL 34120 APPRAISER: SUPERVISORY APPRAISER 10111Y if required): Signature. Name'. Harry Henderson,SRA Date Signed'. Mav 28 2010 _ Slate Ceditication #. RD3475 or State License #. Stale. FL - -- _ —_ -�- — Expiration Date of Certification or License: 11 /30/10 Signature. Name. Date Signed. State Codification #. or Stara Liberec #. State Expiration Date of Centerboard or License. Did Did ,Fat Inspect Property Freddie Mac Form 439 6 -93 Page 2 of 2 Fannie Mae Form f 0048 6-92 Form ACR -- 'Wn101AL appraisal software by a In mode. roc.— 1 -809 ALAMODF 121 +00 s S 8 a w R a 97 GOLDEN GATE BOULEVARD (CR 876) 122.00 123, 00 I 124 +00 I. PROPOSED ROADWAY EASEMENT PARCEL 238 RDUE 7 095 50 ET. TRACT 134 GOLDEN GATE ESTATES UNIT 48 PLAT BOOK 5 PAGE 78 WEST 165' OF TRACT 134 DIFABIO & DIFASIO OR 3781/750 RICHETTI OR 37B3/858 125+00 July i TRACT 135— 1 N W + E 5 S0. FT. SQUARE FEET TECM - ROW OR OFFICIAL RECORDS (BOOK /PACE) pw PROPOSED ROADWAY, DRAINAGE AND UTIJTY EASEMENT (ROUE) FEB 0 1 2010 EXISTING ROADWAY EASEMENT DEDICATED TO THE PERPETUAL USE OF THE PUBLIC PER PLAT BOOK 5, PAGE 18 LEGAL DESCRIPTION FOR PARCEL 238 RDUE A PORTION OF TRACT 134, GOLDEN GATT ESTATES, UNIT 48 AS RECORDED IN PLAT BOOK 5 PAGE 78 OF THE PUBLIC RECORDS OF COLLIER COUNTY, FLORIDA, LYING IN SECTION 2, TOWNSHIP 49 SOUTH, RANGE 27 EAST, COLLIER COUNTY, FLORIDA, BEING MORE PARTICIA ARLY DSCRIBEO AS FOLLOWS. THE SOUTH 43 FEET OF THE NORTH 93 FEET OT THE WEST 165 FEET OW SAID TRACT 134_ CONTAINING 7,095 SDUARE FEET. MORE OR LOSS. 180 ev#�A� 0 40 B0 n D. PAPf SSICWAL SUPrE k k .cPPEF SKETCH & DESCRIPTION ONLY BOUNDARY SURVEY scu.e: C -ea' slcxwc DuE NINA �Dy�� NOT A KID xnNON ME OMEYNL 5 lUR 4 IUISED EuBOSSED SEIL Of FOR COLLIER COUNTY GOVERNMENT BOARD OF COUNTY COMMISSIONERS a Paomw PAISTERED PRDPESSiOxK'O.k rxD wPPPER. GOLDEN GATE BOULEVARD D`X,^' SKETCH & DESCRIPTION OF: PROPOSED ROADWAY EASEMENT 1 Zs' ,1r j s�Kfine ea.e PARCEL 238 RDUE 6610 am.. Palk w.,., slam zoo Nay.s R..-.1. COLLIER COUNTY. FLORIDA Paw..: 1.91 salons P.. (a"` 5.1 one LPN 6R4 JOB NUMBER kEV1SCN SECTION TOWNSHIP RANGE SCALE DATF DRy N BY FILE NAME SHEET 050217.00.01 0001 HE, C1 2 49 17 1" = 80' DEC. 2009 SD L SK 238 1 OF 1 6,6 2(710 0 16 Details Agenda Iten-NP e1WI July 27, 2010 Page 16 of 16 Property Record I Aerial Sketches Trim Notices - - -- — Current Ownership Parcel No. 39210320004 Property Address 1510 GOLDEN GATE BLVD E Owner Name DIFABID, CHRISTOPHER Addresses FRED DIFABIO 1510 GOLDEN GATE BLVD E City NAPLES State FL Zip 34120 -3612 } Legal GOLDEN GATE EST UNIT 48 W 165FT OF TR 134 Section Township Range cre Mao Strap No. 11 49 27 2.58 4C11 341800 134 04C11 Sub No. 341800 GOLDEN GATE EST UNIT 48 Millaoe Area '`°:Millaae Total School `�" Use Code SINGLE FAMILY RESIDENTIAL 87 6.4101 11.6491 5.239 'See Instructions for Calculations 2009 Final Tax Roll ` Latest Sales History (Subject to Change) If all Values shown below equal 0 this !i parcel was created after the Final Tax Roll , Land Value $ 64,500.00 1 Date 11 Book - Page Amount ( +) Improved Value 041 2005 F $-41D,900 00 ( =) Just Value $ 349,302.00 091 2003 3387 - 852 $ 99,900.00 ( -) SOH Exempt Value R Other Exemptions ( =) Assessed Value $ 349,302.00 ( -) Homestead and other Exempt Value (_) Taxable Value $ 299,302.00 I I , ✓ ,O ( =) school Taxable Value (Used for School Taxes) $ 324,302.00 U SOH = "Save Our Homes' exempt value due to cap on assessment increases. The Information is Updated Weekly. � f r z_ 5F ? i4-= /16 http:// wwzv. collierapprais er. com /RecordDetail.asp?Map= &FoliolD= 0000039210320004 6/7/2010