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Home My WebLink About6.C.(2) Appraisal proposals MIND Area~,. C. CZ~ Community & Economic ypLTH 6~ ~V 1 / tiQ. Development ~` `~a~ INM1N 1200 County-City Building, 227 Wesi Jefferson, South Bend, Indiana 46601-1830 .Phone 574/235-9371 Fax 574/235-9021 To: Redevelopment Commission From: Nick Witwer, Economic Development Planner Subject: Mind Area Properties Date: September 19, 2008 This is a request for appraisal services from Rick Pitts and Ralph Lauver for Property Located on Indiana Avenue and Taylor Street in the City of South Bend. Rick Pitts and Ralph Lauver are currently appraising property located at 1515 S. Franklin Street. In discussion with the owner of the property Burton Investments, he discussed his desire to dispose of all property, and that the use of the Indiana Avenue properties are dependent on the use of the Franklin St. Property. It is our desire to add the property to the acquisition list of the AEDA. Rick Pitts has submitted a proposal for $8,500 and Ralph Lauver has submitted an proposal for $8,000. For the expanded scope of work required to appraise the entire group of properties owned by Burton Investments. Staff Recommends approval of the proposals for appraisals of the properties located at 1518 and 1519 Taylor Street and the properties on Indiana Ave. What We Do Today Makes A Difference! Page 1 of 1 Nicholas Witwer -FEE PROPOSALS From: "Ralph Lauver" To: "Nick Witwer" Datc: 9/13/2008 9:38 AM Subject: FGI; PROPOSALS September 13, 2008 .................. Nick Witwer Economic development Planner Community and Economic Development Dear Mr. Witwer: If the following parcels you requested proposals on a re all in the same ownership my fees to complete the appraisals is; 18-8026-1064 .................................................... ................................... $ 1,500.00 18-8027-1086 and 1087 .................................... ................................... 1,500.00 18-8027-1098 and 1099 ...................................... ........................................1,500.00 18-8027-1085 .................................................... .......................................3,500.00 TOTAL $ 8,000.00 Thank you for the opportunity to submit on these additional parcels. Ralph D. Lauver, MAI,SRA file://C:ADocuments and Settings\NWITWER\Local Settings\Temp\XPgrpwise\48CB89PP... 9/16/2008 -~ R. L. rrrTS ~ assoclATFS, rNC. Real Estate.lppraisers ~ Cou~uli:mts Mr. Nick Witwer September 15, 2008 Economic Development Planner Community & Economic Development 1200 County-City Building South Bend, IN 46601 Re: Appraisal Proposals, Economic Development Areas, South Bend, IN Dear Mr. Witwer: Pursuant to your request, I hereby submit a proposal for appraisal services for the above referenced subject properties. The appraisals shall be prepared for and are for the sole and exclusive use of the client and its assigns. The purpose of the appraisals is to estimate the Market Value of the Pee Simple Interest in the subject properties "As-Is". In this appraisal assignment, the appraiser will consider all recognized approaches to value and will apply the relevant approach or approaches. The effective valuation date of the appraisal will be the date of inspection of the property by the undersigned appraiser. The appraisal will be reported in Summary Narrative format and will conform to the reporting requirements of Standards Rule 2-2b of the Uniform Standards of Professional Appraisal Practice (USPAP) and the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA). The completion date for the assignment is estimated to be within 30 days upon of acceptance of this proposal (completion schedule will be prioritized per client request) and receipt of any relevant documentation needed for preparation of the reports in a timely manner. I will furnish (2) original copies of the appraisal report. An invoice for the appraisal fees will be submitted at the time the reports are completed. The individual appraisal fees are stated below. 1) NW Quadrant Franklin street/Indiana Ave (Key #18-8027-1085) 24,000 SF +,i- Warehouse Building Owner: Larry Burton Appraisal Fee: X3,700 2) West side Taylor Street (Key #18-8026-1064) Vacant Land Owner: Larry Burton Appraisal Fee: $1,600 Flick Pius. D]AI 50.580 Woodbury 41'ay • (>ranger, W x6530 ,~.~''~`~ spa-a~a-3224 • F•:~x: spa-z~a-32za A1A1 , PittsAlAl<~anLaan Mr. Nick Witwer September 15, 2008 Yagc 2 3) East side Taylor Street (Key #18-8027-1086; 18-8027-1087) Vacant Land Owner: Larry Burton Appraisal Fee: $1,600 4) North side Indiana Ave (Key #18-8027-1098; 18-8027-1099) Vacant Land Owner: Larry Burton Appraisal Fee: X1,600 If you have any questions regarding this appraisal proposal please contact me. Sincerely, R.E. PITTS & ASSOCIATES, INC. Rick Pitts, MAI Indiana Certified General Appraiser, License #CG69100722 Michigan State Certified Appraiser, License #1201002263 Engagement Letter Accepted: S i gnatw~e Date Indiana Professional Licensing Agency Real Estate Appraiser Board 402 Wctst Washington St., Room W672, intliana~rolie, 1N 40204 (317) 234-31109 Certified ~er~eral A~~prais~r LBc~nse ._. lifv-kF' Num ~B _ ~'~` FI[pt~ptt {]~IP_ _. 6JfCO~S(.atnCb9_ CG69700722 06/30/2010 Acilve `-- -- - - -- - --- - __ _i RICK P1TTS GD5H0 Woodbury Way Gt~ar7ger IN 4~iJ3t7 r~;.~,t-~. x,. ~;~:n. liaecu Lire t)i rec[or Intliana Protesstvnal L3censtny Agency J .i ~~Yn J,~.YaifT it(A i (c 3C 9:{t ~n~4i~~~ {.J11, .} 'r t~F[. LS(A;`f. AEa I`I{~.~'~fi5 r~'. i i 1 . { ;. ,. il ~~ k.. t~u ~ !': A1.. F t~ F'~ iC r ... L i< f 1.~~~. a~~~.. ~~ ~:: ~: - r i :.. s~ra~v ~,_. ,i~~~ a~~. >;r~a~Nuc ~ x_~ ~.. t~ia ~< p ,_ ~ .u n~~.~~ ~ :_~. ~ti .c, .~~.E~!~ ~. ~ ~_ R .. ~ x... ~ ;~