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Agenda 12/15/2009 Item #16B 6 Agenda Item No, 1666 December 15, 2009 Page 1 of 16 EXECUTIVE SUMMARY Recommendation to approve 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 Boulcvard from just west of Wilson Boulevard to just east of DeSoto Boulevard. Project No. 60040 (Fiscal Impact: $2,122.00). OBJECTIVE: To obtain the Board of County Commissioners' approval to purchase a perpetual non- exclusive road right-of-way, drainage and utility easement which is required for the construction of the proposed four-Ianing improvements to Golden Gate Boulevard. CONSIDERATIONS: The subject easement parcel (a legal description and sketch of which is attached hereto) contains 3,000 square feet and is located on the north side of Golden Gate Boulevard between Everglades Boulevard and Desoto Boulevard. The parent tract property- is owned by Mr. Tracy Moyers. The purchase price is $1,722.00 ($25,000.00 per acre) for the easement parcel and is equivalent to its 2009 assessed land value. An appraisal indicating the most probable sale price of the easement parcel in the current real estate market has been prepared and accompanies this Executive Summary at the Board's request, but it has a limited relationship to the overall cost of this parcel as part of the project. The appraisal, by itself, does not take into account the attorney fees and expeli fees and costs which the County could expect to pay if the relationship between the propeliy owner and the County becomes adversm1al. Fees for a property owner's appraiser, engineer, landscape architect, building contractor and attorney could easily add up to many thousands of dollars; and the County would be obligated to pay them under the provisions of state law. Staff believes the following are compelling reasons to purchase the subject property at the negotiated price: I. The owners are cooperating with staff so there are no attorney or expert fees. A single expert witness hired by the owner is likely to cost the County more than the difference between the assessed value of the easement and the market value of the eascment. 2. This is not a forced sale. It will be several more years before we would have to take the easement through condcmnation in order to proceed with construction, Conceivably, the owners can afford to wait for the market to improve in the intervening years, However, the owners are willing to sell now at a time when prices are low. _. 3. The principle of substitution, which lies at the heart of market value, does not necessarily apply when it comes to negotiating the purchase price for right-of-way. The principle of substitution states that a buyer will not pay more for any given property than that price for which a substitute property of equal utility can be purchased, In the case of right-of-way acquisition, once a corridor has been approved, an alignment has been selected, and the roadway Agenda Item No. 1666 December 15, 2009 Page 2 of 16 improvements have been designed, there are no substitute parcels which will satisfy the project requirements other than the parcels for which we are negotiating. 4. When negotiating a price for right-of-way, it must be remembered that, regardless of the market value of the property as indicated by comparable sales, a property's assessed value may be introduced as an admission against the interest of the petitioner (when the petitioner is County government) in the event the easement parcel must be taken through condemnation. In which case, not only is a jury likely to give sympathetic weight to the property's assessed value (when it is higher than the current market value), but the petitioner must pay for the costs of the proceedings (which includes the fees of the owner's attorney and the expert witnesses for both sides.) FISCAL IMPACT: The fiscal impact is $2,122.00 and includes the $1,722.00 as the negotiated price of the easement plus title search, title insurance and recording fees not to exceed $400,00. Source of funds will be paid from gas taxes and/or impact fees. LEGAL CONSIDERATIONS: This item has been reviewed and approved by the County Attorney's Office and is legally sufficient-JBW. GROWTH MANAGEMENT IMPACT: This project is consistent with the Long Range Transportation Plan and the Collier County Growth Management Plan, RECOMMENDA nON: 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 Chainnan to execute same on behalf of the Board; 2, Accept the conveyance of Parcel No. 421 to Collier County and authorize the County Manage, or his designee, to record same in the public records of Collier County, Florida; 3. Authorize the payment of all costs and expenses necessal)' to close the transaction; 4. Authorize the County Managcr, or his designee, to take the necessary measures to ensure the County's perfonnance in accordance with the ternlS and conditions of the Agreement; and 5. Approve any and all budget amendments which may be required to can)' out the collective will of the Board. Prepared by: Joan M. Smith, SR/WA, Senior Property Acquisition Specialist, Transportation Engineering & Construction Managemcnt Attachments: (I) Easement Agreement; (2) Propelty Location Map; (3) Appraisal Report; (4) Legal Description/Sketch Item Number: Item Summary: Meeting Date: Agenda Item No. 1666 December 15, 2009 Page 3 of 16 COLLIER COUNTY BOARD OF COUNTY COMMISSiONERS 16B6 Recommendation to approve the purchase 01 a Perpetual, Non-exclusive Road Right-al- Way, Drainage and Utility Easement 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 (Fiscallmpac!: $2,122,00), 12/15/2009 9:00:00 AM Prepared By Joan Smith Transportation Division Property Acquisition Specialist, Senior Transportation Engineering & Construction Management Date 11/30/200910:21:09 AM Approved By Joan Smith Transportation Division Property Acquisition Specialist, Senior Transportation Engineering & Construction Management Date 11/30/200910:34 AM Approved By Kevin H. Dugan Transportation Division Project Manager Transportation Engineering & Construction Management Date 11/30120092:04 PM Approved By Lisa Taylor Transportation Division Management/Budget Analyst Date Transportation Administration 11/30120092:11 PM Approved By Kevin Hendricks Transportation Division Manager. Right of Way Transportation Engineering & Construction Management Date 11/30120093:20 PM Approved By Jennifer White County Attorney Assistant County Attorney Date County Attorney 11130/20094:30 PM Approved By Norm E. Feder, AICP Transportation Division Administrator - Transportation Date Transportation Administration 12111200911:17 AM Approved By Najeh Ahmad Transportation Division Director - Transportation Engineering Date Transportation Engineering & Construction Management 1211/20091:34 PM Agenda Item No. 1666 December 15, 2009 Page 4 of 16 Approved By Therese Stanley Manager - Operations Support - Trans Date Transportation Division Transportation Administration 12/1/20092:42 PM Approved By Pat Lehnhard Executive Secretary Date Transportation Division Transportation Administration 12/1/20094:08 PM Approved By OMS Coordinator Date County Manager's Office Office of Management & Budget 12/2/20099:58 AM Approved By Susan Usher Management/Budget Analyst, Senior Date Office of Management & Budget Office of Management & Budget 12/4/20093:48 PM Approved By Mark Isackson Management/Budget Analyst. Senior Date Office of Management & Budget Office of Management & Budget 12/7/2009 12:37 PM Agenda Item No. 16B6 December 15, 2009 Page 5 of 16 PROJECT: 60040 PARCEL No(s): #421 FOLIO No(s): 40685120006 EASEMENT AGREEMENT THIS EASEMENT AGREEMENT (hereinafter referred to as the "Agreement") is made and entered into on this 1t?7'~day of Io/~, ..;_L ~. , 20..cz::L, by and between TRACY MOYERS, whose mailing address is 3828 Ruby Way, Naples, Florida 34114- 3987, (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 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. 2. Owner shall convey the Easement to Purchaser for the sum of: $1,722.00 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, 3. Prior to Closing, Owner shall obtain from the holders of any liens, exceptions and/or qualifications encumbering the Essement, 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) Easement; (b) Closing Statement; (c) Grantor's Non-Foreign, Taxpayer Identification and "Gap" Affidavit: (d) W-9 Form: and Agenda Item No. 1686 ~Qlber 15, 2009 Page6016 (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 Pu,chaser. 5. Owner a9rees 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 nf the Easement shall not be deemed to be full performance and discharge of every agreement and obli9ation on the part of Owner to be performed pursuant to the provisions of this A9reement. (c) No party or person other than Purchaser has any right or option to acquire the Easement or any portion thereof. (d) Until the date fixed for Ciosing, so long as this A9reement 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. Agenda Item No. 1666 ~l31ber 15, 2009 Page 7 of 16 (I) 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, iiabilities, laws, costs and expenses (including without limitation reasonable paralegal and attorney fees and expenses whether in court, out of court, in bankruptcy or administrative proceedings or on appeal), penalties or fines incurred by or asserted against the Purchaser by reason or arising out of the breach of any of Owner's representations under paragraph 7(h), This provision shall survive Closing and is not deemed satisfied by conveyance of title. 9, Purchaser shall pay all fees to record any curative instruments required to clear title, all Easement recording fees, and any and all costs and/or fees associated with securing and recording a Release or Subordination of any mortgage, lien or other encumbrance recorded against the property underlying the Easement; provided, however, that any apportionment and distribution of the full compensation amount in Paragraph 2 which may be required by any mortgagee, lien-holder or other encumbrance-holder for the protection of its security interest, or as consideration due to any diminution in the value of its property r:ght, shall be the responsibility of the Owner, and shall be deducted on the Closing Statement from the compensation payable to the Owner per Paragraph 2. In accordance with the provisions of Section 201.01, Florida Statutes, 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. 10, This Agreement and the terms and provisions hereof shall be effective as of the date this Agreement is executed by both parties and shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, personal representatives, successors, successor trustees, and/or assignees, whenever the context so requires or admits. 11. If the Owner holds the property underlying the Easement in the form of a partnership, limited partnership, corporation, trust or any form of representative capacity whatsoever for others, Owner shall make a written public disclosure, according to Chapter 286, Florida Statutes, under oath, of the name and address of every person Agenda Item No. 14B6 ~lfIber 15, 2 09 Page 8 0 16 having a beneficial interest in the property underlying the Easement before the Easement held in such capacity is conveyed to Purchaser. (If the corporation is registered with the Federal Securities Exchange Commission or registered pursuant to Chapter 517, Florida Statutes, whose stock is for sale to the general public, it is hereby exempt from the provisions of Chapter 286, Florida Statutes.) 12. Conveyance of the Easement, or any interest in the property underlying the Easement, by Owner is contingent upon no other provisions, conditions, or premises other than those so stated herein; and this written Agreement, including all exhibits attached hereto, shall constitute the entire Agreement and understanding of the parties, and there are no other prior or contemporaneous written or oral agreements, undertakings, promises, warranties, or covenants not contained herein. No modification, amendment or cancellation of this Agreement shall be of any force or effect unless made in writing and executed and dated by both Owner and Purchaser. 13, Should any part of this Agreement be found to be invalid, then such invalid part shall be severed from the Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and not be affected by such invalidity, 14, This Agreement is governed and construed in accordance with the laws of the State of Florida, 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 BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA BY: Deputy Clerk Chairman AS TO OWNER: DATED II -In -rei ! Jl1 y5:{t:;',,1n ," f I:, i: i _? Witness (Signature) ~~G~/ / /:-:;:-:<.> " /y~r'-0 ~///-r//---- TRACY MOYERS;:' 1 .~ i"/"i'/, \i-[ f"_/ ':) --, '- \'~ \-~ 6t.:> \"-.\_J. .\), I k Name (Print or Type) ,..- :J r:::: Approved as to form and legal sufficiency: Las! Revised: 2119/09 gel . 16B6 December 1 , 2009 Page 9 of 16 EXHIBIT Page ---.l-of DIAZ OR 3659/485 ANEIRO OR 4070/2642 EAST 150' OF TRACT 63 MOYERS OR 3924/1753 TRACT 46 TRACT 63 GOLDEN GATE ESTATES UNIT 7? jPLAT BOOK 5 PAGE 15 i TRACT 64 N I PROPOSED ROADWAY EASEMENT PARCEL 421 ROUE 3,000 SQ. FT. ~' 1" _, _ ,I,. ---._0 ' r "" I s ~-- -____1 ~, 70' 2~5+00 245+00 2.4-7,+00 , GOLDEN I GATE BOULEVARD I CCR 876) 250,+00 , OR ~ rzZJ OFFICIAL HECORDS (tlOOK/PAGE.) PROPOSED rWADWAY, DRAINAGE I~ND UTILITY EASEMENT (ROUE) EXISTII'iG ROADWAY El5EMENT DEDICATED TO THE PERPETUAL USE OF THE ?UBLlC ?~R PLAT BOOK 5, PACE 15 LCt>,L O:::::::;CRiPTiC;.J FOR PARCEL 421 ROUE SKETCH & DESCRIPTION ONLY NOT A BOUNDARY SURVEY FOR; COLLIER COUNTY GOVERNMENT A PORTION OF TRACT 63, GOLDEN GATE ESTATES. UNIT 77 /',5 f?ECORDED IN PLAT BOOK 5, PAGE 15 CF' THE PU8~IC RECORDS OF CO:"L1ER COUNTY, f--LORIDA, LY:NG IN SECTION 5, .~O\lmSHIP 49 SOL'TH, RANGE 28 CAST," COL'L1ER COUNTY, FLORIDA, am.JG MORE PARTICUlP.RL Y DESCRIBED AS FOI_~OWS. I.. _ ' THE NORTH 20 f--EET OF THE SJUTH 10 rEa OF THE EAST :50 FEt:T"OF SLID T"R,A::T~'3 ~~. CClNTAINING 3,000 SQUARE FEET, MOKE OR LESS. 40 llO MICHAEl. A. WARD. p'~orES~lafjAc ~vriV[YOR 01: MAPPeR FLCHICA R~G[STR"ll~N~f);r.TIF;Cf~AW ~301 SI~NING OAE 3)1, 'If , r'Of "AU!) WiT;;OUT THE O~IGINAl SIGN ru~ I< RA:5ED D.!B~oSEO ~SA~ ar A '.LORIDA RE':JS''';REO PRorC;SIONAL SUINE'iOR AND ~'APPER. sc.:ALE: l'~80' B:JARD OF COUNTY CGf,\M:SSIONEi,S GOLDEN GATE DOULEVAlm S:r::ETCH & DESCHIPTION OF: PIWPOSED HOADWA Y EASElI-fEI\'T PARCEL 421 gDUE COLLIER COUNTY, FLOF:IDA JOB NJMBER 050217.00.00 0007 D'XTA "'C~~~ .f.o-{s,ULllN1... ~c~';.,'1~g 0010 'Mllo1< P~r~ DfjV~, Sull~ 200 Na~:es, Florida 34109 Pi.u"~: 12~e) ~97.Q57~ FAX: (239) 5&7.05,6 LBNo.:D952 F!LE I~.AME lH,77 :'1<421 SHEET or 1 Parcel #421- Mr. Tracy Moyers Agenda Item No. 16B6 December 15, 2009 Page 10 of 16 .;:~ LAND APPRAISAL REPORT IM,ioFil,"o p~~r~'llf~~'.rt~O. 16B6 FiI, No P ,P./2\llS1l€ 15, 2009 1 of 16 Borrower Movers T. Census Tract 112.02 Map Reference 81 O-T49-R21 o'dl;: Property Address NfS GGB easl of Everalades Blvd City Naples County Collier Stale FL Zip Code 34120 Legal Description Golden Gate Estates Unit 77 E 150ft of Tract 63 OR 643 PG 541 Sale Price $ NfA Date oi Sale NfA loanTerm~yrs. Property Rights Appraised [3JFee Dleasehold D De Minimis PUD Actual Real Estate Taxes $ 626.20 (yr) Loanchargestobepaidbyseller$~OlhersalesconcessionsNIA Lender/Client Collier County GovlTransportalion Division Address 2885 South Horseshoe Drive Naoles FL 34104 Occuparnvacant Appraiser Harry Henderson, SRA Instructions to Appraiser Estimate Market Value Parent TracUPartial Take Folio #40685120006 Location b! Urban ~Suburban WRural Good Avg, Fair Poor BuittUp o Over 75% [21 25%1075% o Under 25% EmpioymerrtStability D D [8J n ~ Growth Rate o Fullyoev. o Rapid DSteady ~Slow Convenience to Employmerrt D ~ D D Property Values o Increasing o Stable SI Declinin~ Convenience to Shopping D [2J D D Demand/Supply o Shortage [] In Balance :g]oversupply Convenience to Schools D [2J D D Marketing Time o Under 3 Mos. ~] 4-6 Mos. ~over6Mos. Adequacy of Public Transportation LJ [8J D D PresenlLandUse ~% 1 Family _% 2-4 Family _% Apts. _% Condo~% Commercial Recreational Facilities D [2J D D % Industrial 40%Vacanl % AdequacyofUtilrties D [2J D D Change in PresenlLand Use o Not Likely -li<Jlik"YI'l o Taking Place (*) Properly Compatibility D [8J 0 D (*)From vacant To sinole-family Protection from Detrimental Conditions [] [8J D D PredominarTloccupancy [SJ Owner [J Tenant ~%Vacant Police and Fire Proleclion D [8J D D Single Family Price Range $ 80000 to $ 400 000 Predominant Value $ 150 000 General Appearance 01 Properties [] [2J [] D Single Family Age -1... yrs to----1.Q... yrs. Predominant Age 10 yrs. Appeal to Market D [8J 0 D Comments including those factors, favorable or unfavorable, altectng marketability (e.g, public parKs, schools, view, noise)-See attached addenda. Dimensions 150x660 - 2_27 SQ_Ft.orAcres .U,CornerLol Zoningclassificalion Estates (2.25 acre conforminQ 101 size min.) PresenllmprovemenlS IE!Ido [AJ do nol conlorm to zoning regulations Highest and best use o Present use ~I..~eventual sinQle-famUvdevelopment Public Other (Descnbe) OFF SITE IMPROVEMENTS :Topo Level Elec. [8J -- Street Access [8J Public C Private :Size Comoatible with area Gea D Surface Macadam iShapeRectanaular Water D I Maintenance [SJ Public ':J Private IView Neiohborhood San_Sewer D : C Storm Sewer 0 Curb/Gutler I Drainage Aooears to be adeauate D UnclergroundElecl. & TeL! I; Sidewalk_ n Stre~lslllepropertyrocatedlnaHUDldentlfiedSpeciaIFloodHazardArea? ['8JNo[JVes Comments ~avorabie or unfavorable including any apparent adverse casements, encroachments, or otner adverse conditions): Zone D Comm#120067C0250G dtd 11/17/05 No adverse conditions observed, The sub'ecllands are assumed to have an upland/wetland orofile which would allow sinale-familv develooment as allowed bv zonina without atvoical oermittina and/or mitiaation, Tvpical roadwav and/or oarameter utililv easements exist on the site' these are common in the area and do not imoact value The undersigned has recited three recent sales 01 proper1ies most simitar and proximate to subject and has considered Ihese in tne market analysis, The description Includes a doilar adjustment reflecting market reaction to those ilems of significant variation between the subjecl and comparable ploper1ies II a significant item in the comparable property is superior to 01 more favorable than the subject proper1y. a minus (.j adjustment is made thus reducmg the indicated vaiue of subject; if a signlficam item in !he comparable is interior to or less lavorablelhanlt1esul:llectproperly,aplus (+)adiuslmentis made thus increasing Ihe indicated value 01 the Sul:llecl. ITEM SUBJECT PROPERTY COMPARABLE NO, 1 COMPARABLE NO, 2 COMPARABLE NO, 3 Address N/S GGB, east of Everglades BI\ S/S Jung Blvd 2960 29th Avenue NE W/S 12th Street NE Naples FL 34120 Nanles FL 34120 Nanles FL 34120 Nanles FL 34120 ProximflvtoSub-ect {" ... 4.05 miles NW 3.75milesN 3.09 miles W Sales Price N/A .1$ 12000/ac I...... .. ... II 8,810/ac I. .... ... 1$ 11321/ac Price Gross . ....., . I 30,000 ......... .....,1 20000 '. ..' ......1 18,000 Data Source MLS#207046588 MLS#209004143 MLS#207013599 DateofSaleand DESCRIPTION OESCRIP!jON I+{-\$Adiust DESCRIPTION 1+(-1$ Must DESCRIPTION +(- $Adiusl Time Adjustment N/A 7/09 9/09 4/09 Location GGE Similar Similar Similar SiteNiew 2.27 acres 2.50 acres in$/ac 2.27 acres in$/ac 1.59 acres in$/ac Tononranhv Level/natural Level/natural Level/natural Level/natural Zonin Estates Estates '" -. Estates Estates ~ Sales or Financing NfA Cash or Equiv. Cash or Equiv Cash or Equiv. Concessions NetAdifTotan I + 1.- I I + I- I I + I - :1 Indicated Value ....;.........'.X....i 1\, ........... . .., II 1.<;)1 ... 1$ . ..,i II of Subject 12,000 8,810 11,321 Commenls on Markel Data: See attached addenda -. ~ C;;~ments and Condilions of Appraisal: Subiect and camps are compared on a $/acre unit price basis See attached Limitinq Conditions Final Reconciliation' 2,27 acres@$11,000/acre-$25,ooo rounded, Before Value of Parent Tract) Aporaised Compensation relalinQ to Partial Take Parcel 421 ROUE - $765 see addenda I ESTIMATE THE MARKET VALUE, AS DEFINED, OF SUBJECT PROPERTY AS Of November 7, 2009 lobe$ 765 (partial lake} Harry Henderson, SRI; COid o Did Not Physically Inspecl Property Appraiser(s) RevlewAIJPraiser(nap licable ~2k1 Collier Countv Government Form LND - "WinTOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Supplemental Addendum IMaio File No. pj!\~m,'lIl)!f1lr",o,',fl~o, 16B6 File No P 1421Rnprember 15, 2009 . ,coe mr 12of16 Borrower/Client Proe Address Crt Lender Mo ers T. NfS GGB, east of Ever lades Blvd Na les Coun Collier Collier Count GovfTrans ortalion Division Slate FL Zi Code 34120 . land: NeiQhborhood Market Factors The subject is located in the central part of unincorporated Collier County in the Golden Gate Estates area. Golden Gate Estates is a sprawling pre-platted subdivision consisting of acreage-type single-family homesites (1.14 10 5 acres typically) in a semi-rural setting. Essential services are within a 35 minute drive. Golden Gate Boulevard is an east-west running thorofare linking the eastern Estates area 10 Collier Boulevard (with greater Naples beyond). Maintenance levels in the area are average. . land: Market Data The subject and comps are compared on a unilJprice ($/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 owners every benefit of the doubt. The indicated unit prices range from $8,810/acre to $12.000/acre; given the comparison criteria discussed, a unit price of $11 ,000lacre is selected as reasonable for the subject lands. Thus- 2.27 acres x $11 ,ODD/acre = $25.000 /rounded. 8eku"e Value of Parent Tracn The ProDosed Take Parcel 421 ROUE is a 20ft-wide strip taking running along the front of the subject site on Golden Gate Blvd, This ROW interest will be in the form of a permanent easement which will widen an existing ROW easement over the subject property for the existing GGB. The proposed new easement area will contain 3,000 sf or .07 acres. This easement represents a 99% encumbrance to the underlying land; no site improvements (only native vegetation) lie within the easement area. The value of the land being acquired is therefore: $11.000/acre x 99% x .07 acres = $765 (rounded) In the after condition, the subject parent tract could be improved in a similar fashion as before the take (alleast a 100ft front yard, sufficient footprint for a house), no severance damage. Total Appraised Compensation parcel 421 ROUE: $765. Fo"m TADO - "WinTQTAL" appraisal software by 21a mode, inc -1-800-ALAMODE Location Map 1M,," Fil. No P~~~\,&)!fll r~,',fl~o. 16B6 December 15, 2009 13 of 16 Borrower/Client Movers T ProoertvAddress N/S GGB. easl of Everalades Blvd City Naoles Countv Collier S1ate FL ZioCode 34120 Lender Collier Countv GovfTransoortation Division .j~ . ,c' limpKi; fUj'~~~~k; pi0~ ;;,,"t."'+ ,"'" -~' -",..- - ...L. ":::,,;r:::~- ",' 5' - ~L.- -"i=-=: -"-+- --=1.7= -: ~... - -- f,,-/$<:: ,":",'""- . 5 ''',,"". ~ ~ 72nd -/lilt! NE - I"'" -"",,-,- ,,;=;>=", _-:"-.~ .~-\"- --"- -~, to. -"""" . ..'"'- ,,--,..,. -,... - --""- ....~ ---- _'-~RabbitRIRA -. -.,-,,~ _(-:,l~-_ 7cthAveNE"-= ~.:jifi~.::..-~~~- .,~.~"- -~ P~-~d I~-~~:~~~_~: ~ :1_:i~_~__5B~yt~~~ _~_~+.- _::':.- .~~::~-~~i ',~~~ "idMy"'-~- -~ --~ "."N~---~"----"-- - '".,~"'...'\; - + ~= -.::!;~~~ - ~':~'~~a;~:;~:~"c~-~~~!::'~::'",-i:i-~ _~ _.,.,..., ".:", ..,lJ.;.... __"_ '--"'-- __,J;> - -I- --lee "'60th /We ,60th AI't NE,~ -f. A" .. - ..::~~.~ -;<,-:~~ .,\'<. '58th Iwe 1'lE-i4<~_m_- .,..;" ;58th'~veNE-~-~ -'~. --+:.~__ ~",- --.....:::-.LL.- 56ih~'-NE" ~.!~ 37th Ave I'lW 35th'A~ 33~'d Ave:'Nw '33rd Ave- ME;: '"~ ':~"."~~~:---r--~r ~- Ja:::O, '" ",-8" Ja Ja-;- ~ i ~ ~"ffi, iili _'1lst AVe NE 39th A.y,e NE 37th Ave I'lE ~ --"- -- ..--+-- 2~th Ave ~E..;;~-~ 52nt'A~eNFm.:"!~.:: -+' --- ,- ~!- ~ ~ ~.,.. --+-- "'~r 4 _ __,l.. '" - - -,;!'-. -~~~-"-- 2 h5dyHolI~,Blvd'W Iii Ave NW 39t!lAveNW :I: -.- 'f47thAU~.~ - ~f4~1l1 ~~'Nt- 2 ~ d~Y'~ :a'llJ ~ jiIi:: ~- Ri':'~- SOlhAveNE~ rc: . _~.'r~h~~.NE- ~ ~~h AveJE 'Ii. '"'43rdfweNE,..... 471h Ave NE-_'C 45th-Ave ,;;, .J;, -'iist'MeNE 39lhAveNE q;;j)'d '~~~ .. ~". ~. WeH Rd, 37th Ave 35lh~;\Ve,NE .l'arQ 33rdAueNE 33rd'AueNE :r _ __S<.- 31,tAueNE. ;.. 29th.IWtNf. :~" 27th Aue NE 8 31stMel'lE Ii sm. P29thAutNE 27th AueNE 2 G'fD~- "., . 1<. ff' .~.::,,~ S.w, ~;:: ,.... .:Valenclel i; _'~~~~S~r$~"~ ".1 - ~. ! '-C'~~ ~2-'ith'AUt Ne; -..- "'~--22nd?A<JeNE 24tli;1i~e 20lhAue ComparablE'.# 2 29flO 29th AVPllUP !\iE 3 75 miles. N 22ndAveNE-- '''I' 16lIV-A~NE l'1-th-AveNE: Subject NIt. GGB, east of Everglades Blvd , . 5'__ ~. '4th Ave NE' 2nlLAue fiE:" ~olden . ~al~ B!~.~ E.. 2nd lIue SE 4th'iiveSE 12thAveSE -, r- " 121hA~ @200~ Mi...,,~ C. ~oo~ lli~lfQ. ,"a IOrT'" ~I>' ,,"" ~- ~ .1 Vi'; E- 1.2 1.8 I " G-. A've-'S!':':: I L mi 0,6 16!h'Aue SE~: Scale Form MAP.LGe - "WinTOTAL" appraisal software by a la mode, inc_ ~ 1-aOO-ALAMOOE 1M,," File No. p~~ l1.\'l.If)!f11 t&MI~ o. 16 B6 December 15, 2009 Page 14 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 lair sale, the buyer and sel~r. each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus Implicit in this definition is the consummation 01 a sale as oj a specified date aM the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated: (2) both parties are well informed or well advised. and each acting in wllat he considers his own best interest (3) a reasonable time is allowed for eJqlosure in the open market: (4) payment is 'mde in terms 01 cash in U,S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale, . Adjustments to the comparables must be made lor special or creative financing or sales concessions. No adlustments are necessary for those costs which are normally paid by sellers as a resutt of tradition or law In a market area; thBse costs are readHy 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 10 financing terms offered by a third party instihJIional lender that is not already involved in the property or transaction Any adlustment should not be calculated on a mechanical dollar lor dollar cost of the financing or concession but the dollar amount of any adlusrrmnt should approximate the markel's reaction to the linancing or concessions based on Ihe awaiser'sJudgement STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certHication that appears in the appraisal report is subject 10 the following conditions' 1. The appraiser will not be responsible lor matters 01 a legal Mturethat 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 litle. 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 dimensicns of the improvements and the SKetch is incluced only to assist the readerollhe report in visualizing Ihe property and understan ding the appraiser's ceterminallon oiits size 3. The appraiser has examined the available flood maps that are provided by the Feoeral Emergency Ma~agement Agency (or other data sources) and has noled in the appraisal report whether Ihe subject site is located in an identified Special Flood Hazard Area Because the appraiser is not a surveyor, he or she makes no guarantees. express or implied, regardingtnisdetermination 4 The appraiser will nol give testimony o~ appear in cou1 :Jecause 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 oflhe land in the cost approach a: its highest and oest use and the improvements at their conlriblllory value. These separate valuations of the land and improvements must not be used m conjunction with any other appraisal and ate invalid if they are so used. 6 The appraiser has noted in the appraisal report any adverse conditions (such as, needee repairs, depreciation, the presence of hazardOUS wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent condilions ot the property or adverse environmental conditions (including the presence of hawdous 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 guaramees or warranties. express or implied, regarding the condition of the property. The appraiser will not be responSible for any such condilions that do eXist or for any engineering or testing that might :Je required to discover whether such conditions exist. Because Ihe appraiser is not an expert In the field of environ'11enlal hazards, the appraisal report must nol be considered as an environmenlal 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 Ihem to be true and correct. The appraiser does not assume responsibility for the accuracy oi such items that were furnished by other parties The appraiser will not disclose the contents of the appraisal report except as provided lor in the Uniform Standards of professional Appraisal Practice. 9 The appraiser has based his or her appraisal report and vafuation conclusion for an appraisal that is sublect to satislactory completion, repairs, or atterations on the assumption thai completion of the improvements will be pertormed in a workmanlike manner 10. The appraiser must provide his or her prior written consent befO'e the lenoericllent specilied in the appraisal report can distribute the aopraisal report (inclucing conclusions about too property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations or the firm wilh which the appraiser is associated) to anyone other tnan the borrower; the mortgagee or its successors and assigns; Ihe mortgage insurer; consuttants; prolessional appraisal organizations; a~1' state or tederaliy approved financial instillIlion; or any department, agency, or instrumentality of the United States or any slate or the Dislrict of Columbia; except that the le1dericlient may distribute the property description section of the report only to data colleclion or reporting servieNS) without having to obtain the appraiser's prior written consent The appraiser's written consent and approval musl 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 4396-93 Pagel012 Fannie Mae Form 1004B6-93 Collier CounlyGovernment Form ACR - "VI'inTOTAt 'appraisal software by a la mode, inc. -j.800-ALAMOOE IMa;,';!,N, p~~m,jljgEllr&M'~o. 16B6 December 15, 2009 Page 15 of 16 APPRAISER'S CERTIFICATION: The Appraiser certifies and agreeslhat: 1. I have researched the subject market area and have selected a minimum 01 three recent sales of properties most similar and proximate 10 the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate 10 reflect the market reaction to those ITems oj significant variation. ~ a significant item in a comparable property is superior to, or more lavorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales priceollhe comparable and, if a significant ilem in a comparable property is In/eriorta, aT !ess favorable than the subjecl property, I have made a posilive adjuslmentto increase the adjusled sales price of the compa rable. 2. I have taken into consideration the factors that have an impact on value in my development oj the estimate of market value in the appraisal report. I have not knowingly withheld any signijicant information from the appraisal report and I believe, to the best of my knowledge, that all statements and injormation In the appraisal report are true and correct 3, I Slated In the appraisal report only my own personal, unbiased, and profeSSional analysis, opinions, and conclusions, which are subject only to the contingent and limiting conditions specified In this jorm. 4. I have no present or prospective interest In the property that is lhe SUbject to this report, and i have no present or prospective personal interest or bias with respect to the participants in too transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report onttle race, color, religion, sex, handicap, familial status. or national origin of etther the prospective owners or occupants oj the subject property or of the present owners or occupants of the properties In the vicinity of the subject property 5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this appraisal is con!ingent on Ihe appraisM value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause 01 the client or any related party, the amount of the value estimate, the attainment ai a specifiC resu~, or the occurrence 01 a subsequerrt event in order fo receive my compensation and/or employment for performing the appraisaL I did not base the appraisal report on a requested minimum valuation, a specilic valuallon, or the nero to approve a specilic mortgage loan. 7. I per10rmed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the eifective date 01 this appraisal, with the eKception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate ai a reasonable time for exposure in the open market is a condition in the deiiniUon 01 market value and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reccnciliationsection. 8. I have personally inspected the interior and e>rterior areas of the sublect property and the exterior 01 all properties listed as comparables in the appraisal report I further certi1y that I have noted any apparent or known adverse conditions in the subject improvements, on Ihe subject site, or on any stie within the immediate vicinity of the Subject property 01 which I am aware and have made adjustments for ttlese adverse conditions in my analysis of the property value to the e:<lent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. 11 I relied on significant professional assistance from any individual or individuais in the performance of the appraisal or the preparation of the appraisal report, I have named such individual(s) and disclosed the specific tasks periormed by them in the reconciliation section of this appraisal report. I certify that any individual so named is Qualified to perform the tasks. i have not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the appraisal report I will take no responsibility for ti. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report agree wtth the statements and conclusions of the appraiser, agree to be bound by the appraiser's certilications numbered 4 throu gh 7 above, and am taking lull responsibility 10r the appraisal and th e appraisal report. ADDRESS OF PROPERTY APPRAISED: NfS 8GB, east of Everqiades Blvd Naples, Fl 34120 APPRAISER: SUPERVISORY APPRAISER (only if required): Signature Name: Harry Henderson SRA Date Signed' November 7 2009 State Certification # RD34 75 or State License#' State: FL Expiration Date 01 Certification or License: 11/30/10 Signature: .__~_.____ Name: Date Signed SlateCertificatlon#' or State License#: State: Expiration Date 01 Cerli1ication or License' COld :J Did Not Inspecl Property Freddie Mac Form 4396.93 Page20f2 Fannie Mae Form 1004B 6-93 Form ACR - "WinTQTAL" appraisal software by a la mode, inc. -1.800-ALAMODE Agenda Item December Page 0.1 B6 5, 2 09 60 16 .' EXHIBIT Page-Lof ;)LA,Z OR 3C::'9/485 "'NEIRO OR 4070/2642 E.A.ST 50' OF TR.';CT 63 '~OYERS OR 3924/1753 TRACT 46 I I I I I TRACT 53 30LOEN GATE ESTATES UNIT 77 PLAT BOOK 5 PAGE 15 TRACT 64 ;\J iil~~ E -, r 145,+00 PROPJSED'.,R.OADWAY EASEMEN7 PARCEL 421 RDUE 3,COO::;C,rT. ',--2'" I I __ _~~~'>~:: ./:"X," </X/^X)Sl'~C -~=- /, t/ '/// /, // /, ':00/' ,// //) /'./ /1' ..., /! 2/,6+0(1 247+UC:. /' :"",f,1C'2'_ / / // ,24r'~O --~'-----'-- --+-+-"-h---~":_;~' /; GOLDEN GATE BOULEVARD (CR 876) I 250i.JO I J._~- OR OF"r-ICiAL i,ECORJS (GUJ~JiI,C:::) PRDoOS:O ROADW.AY. DrU~I~~;\GE AND UTIL:Ty ;:::.\SDiEhT (Re,u::::) EXISTiNG FOADVI'/..Y ~ASEMEI\)T CEJICAIED TO TH~ -=':::F:FETL',-',L USE OF TI-IE PU8UC j~'[R F'i....:.,c- 3DQ!< 5, l~flC;[ 15 [Y<.): rzzJ LEe"',L ;:J~:;CR:rTiC>; FOR PARCEL 421 ROUE A P'JI~rION OF Tn,~,CT 63, GC!.,DG~ Gl'.iE REC:)iWS OF COLLIER C8Ulf,Y, I"LO::\ID,\ COUI'~TY. FlORIJA, [3EII~G MC'\E PA.,'nICI~1 U:<IT ~'7 {"S r.:=CD::~::;:::~ i:, ;:'L: BCCI<:) L YII~G S=C~IJN 5, TOW!~S~!I;:> <1 S::::dJT~:, ~h!~CE i,f\IJ Di:SCi'mj::::U i<,S i'-C~,'--C\"",'S ~":o,CE '.5 O~'. TI--IE PJE-:LlC :':8 f:AST, COUUEP THE I~OHTH 20 FEET Ofc lHE :):,',,'TH /C !TEl O~. SKETCH & DESCRIPTION C:-.iLY NOT A BOUt~DARY SURVEY f-~R: COlUE:R COU~ITY Gov[R~,'f/"J-;T '" ]H' US, 15J c~"i cc 1;"D 'I '0' C3~ /1)/fL-.~ f.i(j -GO /1;.../ ,'fU/ A. \\"~:J, l'r~Cl"-S$IDtiA, S,WV,-.,-OP, I< _\'Ai-'d'~ .J ;fl~~~1R'\T;:J~R/~~~.O. 0301 , ' hO- '.-A"IC VI:lHOo T 'He ORIGNAc ~1;;N'ItJJ & 11AISl::l' ,-M2:J'::5E:' cCA~ G,c ~ 'L~":I'A Jit(;.~lEIiED PROiTSSlmlAl SUilV:YOR ANO .~~PP"R_ COI~T,,",:NING !..DOQ SUUAH[ i'T::::', i-.L>F;'[ ~)F~ S.c,'U":;:j".c\D' i:!U;,FJ [iF '::Ocm~l COMf,~;~;SIG:~[RS COLDEN GATE BOULEVAHD SKETCH & DESCIUPTlOI\' OF; PROPOSED J:OAmy/".y EASE~1E.:,:T PAHCEL 'J21 rmUl; COLLIER COUI\'TY, nORlDA JOB r,LJ,,,,j:JC:i~ D'XT.A'" I'Januing V"'~taJ=ti"" CONSUL.I'LNG Gvilhtglfl<>::ri"g .IL. "-, T.L .... S""'c)'iIog&,M,,ppil'g 8cil" 280 ';':"'073 (;;',D217,'YH)O 0007 i-':, ,--E ~!",~,~!:: SHEET l.'H77 Si<421 1 ::)"