Agenda 07/27/2010 Item #16A38Agenda Item No. 16A38
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. 488RDUE), which is required for the
four - laning of Golden Gate Boulevard between Wilson Boulevard and DeSoto Boulevard.
Project No. 60040 (Fiscal Impact: $1,600.00).
OBJECTIVE: To obtain the approval of the Board of County Commissioners to purchase a
road right -of -way, drainage and utility easement required for the four - laning of Golden Gate
Boulevard between Wilson Boulevard and DeSoto Boulevard.
CONSIDERATIONS: The required easement is located on the north side of Golden Gate
Boulevard (Unit 78, Golden Gate Estates) and contains a total of 2,175 square feet or 0.05 acres.
Using the most recent, comparative sales data, the Growth Management Division's Review
Appraiser, Harry Henderson, SRA, prepared an appraisal of the easement area of the property
estimating its current market value at $425 ($8,500.00 per acre). The current / 2009 assessed
value of the needed easement area is $1,250.00 ($25,000 per acre).
On June 16, 2010, Collier County Transportation Division invited the owners, James and Vickie
Showalter, to discuss the sale of the required easement to the County. On or about June 21,
2010, Mr. Showalter contacted the assigned Property Acquisition Specialist to discuss the
County's invitation. Through continued negotiations, the owners have agreed to sell the required
easement to Collier County for the purchase price of $1,250.00 (at the exact current / 2009
assessed value).
Staff is recommending that the Board of County Commissioners purchase the required easement
area from Mr. and Mrs. Showalter for the purchase price of $1,250.00, 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 lbr 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.
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 connnon 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
Agenda Item No. 16A38
July 27, 2010
Page 2 of 16
agreement was negotiated at the current / 2009 assessed value prior to the publishing of the
preliminary 2010 assessed values on July 151x.
FISCAL IMPACT: The fiscal impact is in an amount not to exceed 51,600.00 and includes the
$1,250.00 negotiated purchase price; a title search fee, a title insurance premium, lender
subordination fees, and recording fees not to exceed $350.00. Source of funds are road impact
fees.
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated
with this Executive Summary.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney's Office
and is legally sufficient for Board action. RNZ
RECOMMENDATION: That the Board of County Commissioners of Collier County, Florida:
1. Approve the attached Easement Agreement and authorize its Chairman to execute same on
behalf of the Board;
2. Accept the conveyance of Parcel No. 488RDUE 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 of the Board.
Prepared by: Sonja Stephenson, Property Acquisition Specialist, Right -of -Way Acquisitions,
Transportation Engineering, Growth Management Division
Attachments: (1) Easement Agreement with Exhibit "A "; (2) Location Map; (3)
Appraisal (4) 2009 Final Tax Roll
Agenda Item No. 16A38
July 27, 2010
Page 3 of 16
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
Item Number: 16A38
Item Summary: Recommendation to approve the purchase of a Perpetual, Non - exclusive, Road Right -of-
Way, Drainage and Utility Easement (Parcel 488P,DUE), which is required for the four - lanirg
of Golden Gate Boulevard between Wilson Boulevard and DeSoto Boulevard. Project No.
60040 (Fiscal Impact $1,600).
Meeting Date: 7/27/2010 9:00:00 AM
Prepared By
Sonja Stephenson
Property Acquisition Specialist
Date
Transportation Engineering &
Transportation Division
Construction Management
7/712010 10:54:50 AM
Approved By
Robert N. Zachary
Assistant County Attorney
Date
County Attorney
County Attorney
718/2010 3:57 PM
Approved By
Jeff Klatzkow
County Attorney
Date
7/9,2010 3:37 PM
Approved By
Najeh Ahmad
Director - Transportation Engineering
Date
Transportation Engineering &
Transportation Division
Construction Management
7/12/2010 9:49 AM
Approved By
Gary Putaansuu
Project Manager, Principal
Date
Transportation Engineering &
Transportation Division
Construction Management
711 2/201 0 1 :14 PM
Approved By
Lisa Taylor
ManagemenuSudget Analyst
Date
Transportation Division
Transportation Adminisi ation
71 ,2i2C10 1.56 PM
Approved By
Nick Caca:anguica
Dir'ectcr - Transportation Planning
Date
Transportatior. Division
Transportation Planning
7112'2010 4:20 PM
Approved By
Kevin Hendricks
Manager - R;ght. of Way
Date
Transportanon Engineerinc &
Transportator Division
::cnstruction Management
713:20101012 AM
Approved By
Agenda Item No. 16A38
July 27, 2010
Page 4 of 16
Norm E. Feder, AICP
Administrator - Transportation
Date
Transportation Division
Transportation Administ ^anon
711311010 1:58 PM
Approved By
Natali Betancur
Administrative Assistant
Date
Transportation Division
Transportation Road Maintenance
711412010 9:58 AM
Approved By
OMB Coordinator
Date
County Manager's Office
Office of Management & Budget
71141201011:18 AM
Approved By
Susan Usher
Management /Budget Analyst, Senior
Date
Office of Management &
Office of Management &Budget
711 61201 0 11:02 AM
Budget
Approved By
Mark Isackson
ManagementlBudoet Analyst, Senior
Date
Office of Management &
Office of Management &Budget
7/17/2010 1:06 PM
Budget
Agenda Item No, 16.A38
July 27. 2010
Page 5 of 16
PROJECT: 60040 Golden Gate Boulevard
PARCEL No(s): 488RDUE
FOLIO No(s): 40745760005
EASEMENT AGREEMENT
THIS EASEMENT AGREEMENT (hereinafter referred to as the "Agreement ") is
made and entered into on this day of 2010, by and between
JAMES C. SHOWALTER and N ICKIE SHOWALTER, Husband and Wife, whose mailing
address is 4380 2ntl Avenue NE, Naples, Florida 34120 (hereinafter referred to as
"Owner "), and COLLIER COUNTY, a political subdivision of the State of Florida, whose
mailing address is 3301 Tamiami Trail East, Naples, Florida 34112 (hereinafter referred to
as "Purchaser').
WHEREAS, Purchaser requires a Perpetual, Non - Exclusive 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:
All of the above RECITALS are true and correct and are hereby expressly
incorporated herein by reference as if set forth fully below, and all Exhibits referenced
herein are made a part of this Agreement.
2. Owner shall convey the Easement to Purchaser for the sum of:
$1,250.00
subject to the apportionment and distribution of proceeds pursuant to Paragraph 9 of
this Agreement (said transaction hereinafter referred to as the "Closing "). Said
payment to Owner, payable by County Warrant, shall be full compensation for the
Easement conveyed, including all landscaping, trees, shrubs, improvements, and
fixtures located thereon, and shall be in full and final settlement of any damages
resulting to Owner's remaining lands, costs to cure, including but not limited to the
cost to relocate the existing irrigation system and other improvements, and the cost
to cut and cap irrigation lines extending into the Easement, and to remove all
sprinkler valves and related electrical wiring, and 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.
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) Perpetual, Non - Exclusive Road Right -Of -Way, Drainage and Utility
Easement,
Agenda Item No. 16333
Page 2July 27, 2Q'10
Page 6 of 16
(b) Closing Statement;
(c) Grantor's Non - Foreign, Taxpayer Identification and "Gap" Affidavit;
(d) W -9 Form; and
(e) Such evidence of authority and capacity of Owner and its representatives to
execute and deliver this agreement and all other documents required to
consummate this transaction, as reasonably determined by Purchaser,
Purchaser's counsel and /or title company.
4. Both Owner and Purchaser agree that time is of the essence. Therefore, Closing
shall occur within ninety (90) days from the date of execution of this Agreement by
the Purchaser; provided, however, that Purchaser shall have the unilateral right to
extend the term of this Agreement pending receipt of such instruments, properly
executed, which either remove or release any and all such liens, encumbrances or
qualifications affecting Purchaser's enjoyment of the Easement. At Closing, payment
shall be made to Owner in that amount shown on the Closing Statement as "Net
Cash to Seller," and Owner shall deliver the Closing Documents to Purchaser in a
form acceptable to Purchaser.
Owner agrees to relocate any existing irrigation system located on the Easement
including irrigation lines, electrical wiring and sprinkler valves, etc., prior to the
construction of the project without any further notification from Purchaser. Owner
assumes full responsibility for the relocation of the irrigation system on the remainder
property and its performance after relocation. Owner holds County harmless for any
and all possible damage to the irrigation system in the event owner fails to relocate
the irrigation system prior to construction of the project.
If Owner elects to retain improvements and /or landscaping ( "Improvements') located
on the Easement, the Owner is responsible for their retrieval prior to the construction
of the project without any further notification from Purchaser. Owner acknowledges
that Purchaser has compensated Owner for the value of the Improvements and yet
Purchaser is willing to permit Owner to salvage the Improvements as long as their
retrieval is performed before construction and without interruption or inconvenience
to the County's contractor. All Improvements not removed from the Property prior to
commencement of construction of the project shall be deemed abandoned by
Owner.
This provision shall survive Closing and is not deemed satisfied by conveyance of
title.
6. Owner and Purchaser agree to do all things which may be required to give effect to
this Agreement immediately as such requirement is made known to them or they are
requested to do so, whichever is the earlier.
7. Owner agrees, represents and warrants the following.
(a) Owner has full right, power and authority to own and operate the property
underlying the Easement, to enter into and to execute this Agreement, to
execute, deliver and 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, 1GA38
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.
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. 16A38
Page 4luly 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. In accordance with the provisions of Section 201.01, Florida Statutes, related to the
exemptions against payment of documentary stamp taxes by Purchaser, Owner shall
further pay all documentary stamp taxes required on the instrument(s) of transfer,
unless the Easement is acquired under threat of condemnation.
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
BY:
FRED W. COYLE, Chairman
AS TO OWNER:
DATED:
tness (Signature)
J ES C. OWALTER
Namyye (Print or Type)
��
/ /i� r:<
Wtness,00( ignature)
Name (Print or Type)
IRa
Witness (8gnature)
Name (Print or Type)
Approved as to form and
legal sufficiency:
Assistant County Attorney
Last Revised. 2119109
VICKIE SHOWALTER
Agenda Item No. 16A38
Page 5iuly 27, 2Q10
Page 9 )q 16
Agenda Item Flo. 16A.38
July 27, 2010
o--- 10 of 16
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EXISTING ROADWAY EASEMENT DEDICA-ED TO THE PERPETUAL TECM _ ROW
USE OF THE PUBLIC PER PLAT DOOR 5, PAGE 16
FEB 0 1 2010
LEGAL DESCRIPTION FOR PARCEL 488 ROLE
A 'OPTION OF TRACT 72. GOLDEN GATE ESTATES, UNIT 78 AS RECORDED IN PLAT BOOK 5, PAGE T6 OF THE PUBLIC
RECORDS OF COLLIER COUNTY, FLORIDA. LYING IN SECTION 4, TOWNSHIP 49 SOUTH, RANGE 28 EAST, COLLIER
COJNIV, RORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS
THE NORTH 29 FEET OF THE SOUTH 79 FEET OF THE EAST 75 FEET OF THE WEST 180 FEET OF SAID TRACT 72.
CONTAINING 2,175 SOUARF FEET, MORE OR LESS.
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Agenda Item No 16A38
July 27, 2010
/Main File NO Parcel 488BLUEI Pade, e i2 Of 16
LAND APPRAISAL REPORT GGe
File No. Parcel 488RDUE
Borrower Owner. Showalter Census Tract 112 02 Map Reference S4-T49-R28
Property Adorers MIS Golden Gate Blvd
City Naples County Collier Stale FL lip Code 34120
Legal Description Golden Gate Estates Unit 78 E 75fl of W 180f1 of Tract 72
Sale Pride $ NIA Date of Sale N/A ___ Loan Term N/A yrs. Property HigMS Appraised '❑c Fee ❑ Leasehold ❑ De Minimis PU
Actual Real Estate Tans $ 34014 (yr) Loan charges to be paid by Selo S N/A Other sales concessions NIA
Lender/CIiBM Golfer County GOV/TransEortatron Division Address 2885 South Horseshoe Dore Naples FL 34104
Occupant vacant Appraiser Hill Henderson SRA Instructions to Appraiser Estimate Markel Value Parent TrecVPartial Take
Folio #40745760005 So em anent tract is unim roved
Location ❑ Urban Suburban L : But,
Built Up ❑ Over 75% 25% to 75% ❑ Under 25%
Growth Rate [ Fully Div. ❑ Rapid ❑ Steady ® Slow
Property Values ❑ Increasing ❑ Stable Z: Decfinirp
Demand/Supley ❑shortage In Balance ®Oversupply
Marketing Time '❑ Under 3 Mos. ❑ 4 -6 Mos. ® Ever 6 Mos.
Present Land Use 55 %1 Family _ %2 -4 Family _ % Adds. _ %Gonda_ %Commercial
%Industrial 45% Vacant %
Change in Present Land Use [' Not Liked Likely O I,—,' Taking Place (')
From vacant To single- family
Predominant Occupancy Owner ❑ Tenant % Vacard
Single simply Price Range S 60,000 to S 210,000 Predommar lloa $ 115.000
Single Famlly Age 1 yrs -to 25 yrs. Predominant Age 10 yrs.
Good Avg. Fair Poor
Employment Stability ❑ ❑'
Comromme to Employment
Comnimce to Shopping � z I`
Convenlereeto Schools S1 ❑ 1.l
Adequacy of Pudic Transpodation ❑ XI !_ ❑
Recreatiprel FacilNes C' Iz ❑ ❑
Adequacy Of UtilOes r i ® ❑ ❑
Prop" CompadblPty
Prodappon fi n Detrimental Conditions ❑ ® _ ❑
Police and Fire PrMection ❑ z L 1-1
General Appearance of Properties ❑ z -2 !-1
I Appeal to Market ❑ Z ❑
view, house)', Sae attached addenda.
Commems; including those factors , favorable or unfavorable, allecang marketability (EC public parks, sehOS,
Dimensions 75 x 680 1.17 Sig. Ft. or Acres _' Corm Lot
Zoning dassifica6on Estates 12.25 tae wnforminp lot s¢e min.) Present Imprbvemems IIS do (] dip not conform to zorinp regulations
Highest and best use ❑ Present use J;' Other Ispecity) E re ngls -fam ly devebpment Subject lot H a nonconfmmin lot of record.
Public Other (Describe) OFF SITE IMPROVEMEMS ITopo Level
Elec. r Street Access 'L�.J Public ❑ Private Sire Compatible with area
Gas ❑ /Solace Macadam I Shape Resclarki
Water Mel emence ® Public Pmate thew Neighborhood
San. Sewer _ .l Storm Sewer Curb/GUDer i Drainage Appears to be adequate
1 OnoeDround Elect &TeLL_I Side _ ❑SbBR LlghtsJN the property bead In B HUD IdenUMd Spedtl Flobtl XenrO Ara? ®NO ❑Ya
Comments(tavaable or unfavorable inciWmg arw apparent adverse easements, encmsee em. or tuber adverse condessi Zone Dr ComnW120067CO250G did 11 /17/05
No adverse Demotions observed Typical dw v andfor parameter utility easements Feet on the site, are common in the area and do
not impact value.
TM redesigned has healed free recent sales of prowmes most simWr alld pOGmale 10 sublect And has commosed Vase n the market Ndlyal5. The descop6M Includes a dollar
Lakeshore reflecting market reaction to those items of significant variation tell the sublect and Comemabe proposes e a significant Item in Pe compf properly Is superior
to or more teverabae than the sublect propeM, a Took O adlusenere is made pus reducing to Indicated value Of sepect A a signlfcant ham in dH comprhabe is Interior to or less
favorable than dice subject propeM, a plus ( +) adjustment is made taus increasing the indicated value Of the shelter.
Cl SUBJECT PROPERTY
COMPARABLE N0.1
COMPARABLE N0.2
COMPARABLE NO 3
Address All Golden Gate Blvd
4270 22nd Avenue NF
N/S 58th Avenue NE
3421 56th Avenue NE
Naples, FL 34120
Naples, FL 34120
Naples FL 34120
Naples, FL 34120
Pro%lmlt to Sub for
r`
0.49 tulles N
1.94 miles W
1.82 tulles SW
So es Rice
NIA
" "�_. -
8,3331ac
I " L "' "'
S 7,143/ac
-
10852 /ac
_—
Price Gross
9,500
19 500
-•
28 000
Data Source
MLS #210000931
MLS#209030557
MLS #209018236
Date of Sale and
'DESCRIPTION
_
DESCRIPTION I (-)S Adjust
DESCRIPTION I +- Anul
DESCRIPTION +- Adust.
Time Adlustmene
N/A
3/10
' 3/10
3110
Location
GGE
Simmer
I Similar —_
Similar '.
SneNew
__ _
1.17 acres
.___ _
t acres acres in $ /ac
2]3 acres in $ lac
258 acres in $lac
Leveunatural
LFVeUnatural
LeveVnatural '
Tc o ra h
Leve4nalural
Zonin
Estates
Estates
Estates
Estates
Sales or Financing NIA
Cash or Equiv.
Cash or Equiv.
Cash or Equiv.
Concessions
_
Net Ad JPzW
1 + -
Indicated Value '° rs].0
of Sublect w3 _ e
y^ s =. `.IFMg4F
E 8 333
r.,.
"'TM"
714
:a All
$ 10.852
Comments on Market Data'. See attached addenda.
Comments and Condirmo 01 Appraise¢. Subject and comps are compared on a $/acre unit once bass Parer tract Land Value: 1.17 acres x
$8 500lacre = $9 945.
See attached Limiting Conditions.
No site not vem
Final Reconciliation. Taking pence] .05 acres x $B 500 = $425 proents no damages. _
- --
p $42
Total ClOmensatlon: 5
1 ESTIMATE THE MRREET VALUE, AS OEFIMED. OF SUBJECT IRSIBRTI AS OF May 26 2010 t0 be $ 425
Harry Henderson, SRA _ ''J Did '.. I Did Net Physically Inspect Property
A raiser sl Review raiser if applicable)
(Y2R) Collier Courtly Government
Form -ND — WmTOTAL appraise sonware by a Is mode, trio. — 1- 800 ALAMODE
Agenda Item No. 16A38
July 27, 2010
IMafn Fla ka Famel4eBR0uEl pie 13 of 16
Supplemental Addendum F e % o
Borrower /Client Owner: Showalter
PTO Adi N/S Golden Gate Blvd
C' Naples Courity Collier State FL ZIPCOlo 34120
Lender Collier County GovRransponation Division
• Land : Nelchbodtood Market Factors
The subject is located in an outlying section of developed 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 homesites
(1.14 to 5 acres typically) in a semi -rural setting. Essential services are within a 35 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 unit/pnce ($ /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 $7,143 /acre to $10,852/acr% given the comparison criteria discussed, a unit price of
$8,501 is selected as reasonable for the underlying unit/price value for the parent tract lands.
Parcel 488RDUE
The subject parcel is a 29 ft -wide ROW strip located on the south side of the parent tract along Golden Gate Boulevard. The
size of the taking parcel is 2,175 of or .05 acres. At the appraised unit/price of $8,500 /acre the subject parcel has a direct land
value of $425. No site improvements or damages are associated with this taking parcel. The subject parent tract is
unimproved.
The Total Appraised Compensation associated with the taking of parcel 488RDUE Is estimated to be:
42
Forte TADD — 'WInTOTAL" appraisal software by a la mode, i%. —1- 000- ALAMODE
Agenda Item No. 16A33
i 27, 2010
IMe n file No Paroe141111 1 Paoe e 14 of 16
DEFINITION OF MARKET VALUE: The most probable price which a properly should bring in a compedbve and open market under all Condhions
requisite to a fair, sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this
dehndlon Is the consummation at a sale as of a specified pate and Ile passing of its tram seller to buyer under conditions whereby: (1) buyer and seller are
typically motivated, (2) both ponies are well informed or well advised, and each acting in what he considers his own best liberal (3) a reasonable time is allowed
for exposure in the open market', (4) payment is made in terms of cash in U.S. dollars or in terms of finarolal arrangements comparable theft; and (5) the price
represents the normal consideration for the pmperfY sold uluftected by special or creative financing or sales concessial granted by anyone absucated with
the sale,
'Ad;ustmers to the compatibles most be made for special or coal financing or saies concessions. No adjustments are necessary
for Use costs which are normally paid by sellers as a result of Iradnion or law in a monkey area', these costs are readlN Idehtgiabu
since IN seller pays these casts in virtually all sales transactions. Special or creative financing adjustments can be made to the
comparable all by Wmpacture to financing terms Offered by a third pally matlfurrondl lender that is not already involved In IN
property or transaction Any adjustment should rot be calculated an a mechanical dollar for dollar cost of the financing or concession
but de dollar amount of any adjusrrym 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 cennlcation that appears in eye appraisal repel is subject m the following
condmons'.
I . The appraiser will rat be responsible rot matters of a legal nature mat affect Buyer the properly being appraised err the title to it, The appraiser assumes that
U the is good and marketable and, therefore, will not render any opinions about the AS The property is appraised on the basis of it being under responsible
ownership.
2. Toe appraiser has provided a sketch in the appraise report to snow approximate dimensions of the Improvements and the sketch Is included only to assist
the reader Of the report In visualizing the property and understanding the appraisers detennimlion of his size.
3. The appraiser has examined the avaluMe flood maps that are provided by the Federal Emergency Management Agency (or other data Sources) and has noted
in the appraisal reach whether the subject site is located in an identMed Special Flood Huard Area. Because the appraiser is not a survsyor, he or she makes
no guarantees, express or implied. regarding this confirmation
4. The appraiser will not give testimony or appear in coon because be or she made an appraisal of the properly In question, unless specific arrangements to do
so have been made beforehand .
5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at melt cmethavory value. These
separate valuations or the land and improvements most not be used In conjunction with arty otter appraisal and are Invalid d they are set used
B. The appraiser has noted In the appraisal report any adverse conditions (such as, needed repairs, depreciathon, the presence of hazardous wastes, toxic
substances, etc.) observed during me Inspection of the subject property or that he or she became aware of owing the normal research imdved In performing
IM appraisal. Unless otherwise stated in the appraisal report , the appraiser has no knowledge of any nodded or unapparerh condtons of the property or
adverse erwimnmenlal conditions (including the presence of hazardous wastes toxic substances, etc I Nat would make the properly more or less valuable, and
pas assumed that there are no such condoons and makes mo guarantees or warranties, express or implied, regarding the concern of the property. TV
appraiser will not be responsible for and such conditions that do exist or for any engineering or felling that might be required to discover whether such
conditions exist. Because the appraiser is not an expert in the field of environmental hazards tic appraisal report must not be considered as an
environmental assessment of the property.
7 The appraiser obtained the information, estimates, and Opmlons Nat were expressed In the appraisal report from sources that 11e Or she considers to be
tellable and believes them to be true and correct. The appraiser does not assume respoosjblhly tom the accuracy of such dims that were furnished by our
pates.
6 The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal Nat is subject to satisfactory completion, repairs
aneratlons on the assumption that completion of the improvements will be performed in a workmanlike manner.
10 The appraiser must provide his or her prior written bonder before th Iendeticlomit specified in the appraisal report can terminate the appraisal report
droll concroslons about the property value, the appraiser's Our and accessions) designabons, and references to any professional appraisal
organization or the firm with which the appraiser Is associated) to anyone other than me borrower me moregaged Or Z successors and assigns', the mortgage
insurer', contracts', professional appraisal organizations', any state or tea lfy approved financial InsIIMIon', or any department agency. or Instrumentally
m 1he Untied States Or any slate or the District of Coitmbia; except that the lender/client may olsblblRe the property description seblbo of the repOn Only to data
collection at reporting servl6e(51 wlthous raving to chain the appraisers prior written consent TV appraisers woman consent and approval must also
be obtained before the appraisal :an be conveyed by anyone to the public through aoveresirg, public meatiens, news, sales, or other media.
Freddie Mac Form 439 6 93 Page'. oft Fannie Mae Form 10040 6 -93
Colder County Government
Flinn ADD — 'WimIDTAL' appraisal software by a lA mode, he — 1- 000- ALAMODE
Agenda Item No, 16A38
July 27, 2010
e15of16
APPRAISER'S CERTIFICATION: The Appraiser What and agrees that:
1, 1 have researched the subject market area and have selected a mnimum of three recent saes of properties most similar and enchant to be subjem property
for consideration in the sales comparison anaysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant
variatiop g a significant hem in a comparabe property is superior to, or more favorable than, the subject property, I have made a ral adjustment to reduce
the adjusted saes price of the comparable and, if a smertfiram an in a Comparable property Is interior to or less favorable man the subject property , I have made
a positive adjustment to increase the adjusted sales price of the comparable.
2. 1 have taken into consideration the factors Ihet have an impact on value in my trammel of the estimate of marker value In the appraisal repon. I have not
knowingly wftdd any thermal imormalion from the appraisal repon and I believe, to to best of my knowledge, that all statements and imormaeon in the
appraisal report are true and carrect.
3. 1 stated in the appraisal report only my own personal, unbiased and professional analysis, opinions, and conclusions, which are subject only to the contingent
and limning conifibi specified in this tan,
4. 1 have no present or prospective interest in the property mat is the subject m this report I have no present or prospective personal iraeresl or bias with
respect to the pamcipams in the transaction. I did not base, either partially a completely, my analysis and/or the esbmale of market were In IN appraisal report
on the race, color, religion, sex, handicap, famiul status, or motional origin of either the prospective owners or occupants at the subject property a at the pmsem
owners or occupants of the properties in the many at the subject property.
5. 1 have no present or contemplated fares interest in the subject property, anti renter my current or fare employment nor my compensation for performing this
appraisal is contiryem on the appraised value of the property.
6. 1 was not required to report a predetermined value or direction in were rat favors the cause of the diem or any related parry, the amarn of the value estimate,
the arrival of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for pertormirp the appraisal. I
did rnit base the appraisal report on a requested minimum valuation, a speceic valuation, or the need to approve a spel mortgage loan.
7. 1 performed this appraisal in comormy, with the Uniform Standards of Professional Appraisal Practice that were adopted and professional by the Appraisal
Standards Board of The Appraisal Foundation and that were in place as of the affective date of the appraisal, with the exception of the departure pmvisim at those
Standards, which does nor apply, I acknowledge that an estimate of a reasonable in for exposure in the open market is a coednion in It de8nrbon of market value
ono the estimate I develppeo is consistent with the marketing urns noted in the neighborhood section of this report, Cause I have otherwise stated in the
reconciliation section.
8. 1 have personally inspected the interior and ederior areas of the cabinet property and the annular of at pmpenles listed as comparabes in the 491'alsal repon.
I further modify mat I ban noted any apparent a known advese conditions in the subject improvements, on the subject Site, or on any sire when the immediate
vicinity of the subject propery of which I am aware aft have made adjustments for these adverse conditions in my Intervals of the property value to the eaten that
I had market evidence to support them. I have also Convnemed about the effect of the adverse mnddions on the marketability of the subject property.
9. 1 personally prepared as conclusions and opinions about the real estate that were set form in the appraisal report It I relied on significant professional
assistance from any keel uai or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and
disclosed the specific tasks performed by them in the reconciliation section of this appraisal report I cenity mat any individual as named is qualified to Won
N tasks. I have not authorized anyone to make a charge to any item in IN report therefore, d an unauthorized change is made to the appraisal repon, I will take
no responsibility for d.
SUPERVISORY APPRAISER'S CERTIFICATION: It a supervisory appraiser signed the appraisal repon, he or she damping; and agrees that:
I directly supervise the accouter who prepared the appraisal repon, have reviewed the appraisal report, agree with the statements anti conclusions of the appraise,
agree to be bound by the appraiser's Carolinians numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report
ADDRESS OF PROPERTY APPRAISED: NIS Golden Gate Blvd Naples FL 34120
APPRAISER:
Signature:
Name: Harry Henderson SRA
Date Signed. May 28 2010
State Certification It R03475
or State License #'. _
State'. FL
Expiration Date or Certmcatlon or License. 11/30110
SUPERVISORY APPRAISER (only It required(:
Signature:
Name:
Date Signed:
State Certification A, _
or State License #:
stare.
Expiration Date of Certification or Lcerse'.
[] Old ❑ Did Not Inspect Properly
Mac Form 43911 -93 Page 2 of 2 Fanne Mae Form
Farm ACR — "WinTOiAL" appraisal software by a la mode, inc. —1- 800- ALAMODE
Details
Trim
Aerial Sket ches Notices _
Current Ownership
Pa I of I
Agenda Item o. 'IOA38
July 27, 2010
Page 16 of 16
3U
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Sub No.
Land
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--49 - 26 1.17
349900 GOLDEN GATE EST UNIT
—11 VACANT RESIDENTIAL
2009 Final Tax Roll
(Subject to Change)
If all Values shown below equal 0 this
parcel was created after the Final Tax Roll
0512000
Taxable Value (Used for School Taxes) y�s,z:
Our Homes" exempt value due to cap on assessment
lane Area ftMllla a Total School
60 6.4101 11.6491 5.239
Latest Sales History
The Information is Updated Weekly.
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