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Home My WebLink AboutINTEGRA REALTY RESOURCES Integra Realty Resources 4981 North Franklin Road Indianapolis T 317-546-4720 Indianapolis,IN 462226 F 317-546-1407 info@irr.com www irr com irr Proposal for Valuation Services Thursday,January 26, 2017 VIA email: bucusiimano@nexustax.com Client: Mr. Rob Waiz Economic Development& Redevelopment Address: City of Jeffersonville 500 Quartermaster Court, Room 257 Jeffersonville, IN 47130 With Reference to the Following Described Property: Name: Dover Fluid Address: 2540 Centennial Boulevard Jeffersonville, IN 47130 Parcel Number: 10-42-04-900-198.000-039 Dear Mr. Waiz: Please consider this our proposal to prepare appraisals of the above referenced property, to assist in an appeal of the ad valorem assessment(s) of the property as of March 1, 2011; March 1, 2013; March 1, 2014; and March 1, 2015, The Ethics Rule of USPAP requires us to disclose to you any prior services we have performed regarding the property within a three-year period immediately preceding the acceptance of this assignment, either as an appraiser or in any other capacity. We represent that we have not performed any services that require disclosure under this rule. INTEGRA REALTY RESOURCES-INDIANAPOLIS, PROPOSES TO PROVIDE THE FOLLOWING SCOPE OF CONSULTING AND VALUATION SERVICES: Mr. Rob Waiz Economic Development & Redevelopment January 26, 2017 Page 2 PHASE I—ANALYSIS,APPRAISAL,AND ORAL REPORT The first phase of this assignment would include the following scope of work: • Interior and exterior appraisal inspection of the property; • Analysis of the property's locational, physical, legal, and economic characteristics (inclusive of operating income and expenses); • Market research and analysis; • Review of the ad valorem assessments as of the valuation date(s), and analysis of comparable assessment data; and • Valuation of the property as of the effective dates,to determine the property's retrospective market value-in-use, utilizing the following methodologies: o Cost Approach o Sales Comparison Approach o Income Capitalization Approach Upon completion this work,we would report the assignment results and value conclusions in an oral report(e.g. in person or over the phone), in accordance with applicable provisions of the Uniform Standards of Professional Appraisal Practice (USPAP). Subsequent to this oral report, it would be determined if a written appraisal report is desired (Phase II)for reliance in the appeal process. Scope of Work: Appraisals Effective Dates: March 1, 2011; March 1, 2013; March 1, 2014; March 1, 2015 Type of Report: Oral Delivery: 3 weeks upon receipt of signed engagement letter and retainer Fee: $4,900 PHASE II—WRITTEN APPRAISAL REPORT If authorized by the client, a written appraisal report will be completed.The written appraisal report will be prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP),the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, and applicable state appraisal regulations. For the Phase II written appraisal report,the scope of work, delivery timelines, and fees would be as follows: Scope of Work: Appraisal Report Effective Dates: March 1, 2011; March 1, 2013; March 1, 2014; March 1, 2015 Mr. Rob Waiz Economic Development& Redevelopment January 26, 2017 Page 3 Type of Report: Written Delivery: February 24, 2017 Fee: $3,500 The oral and written reports will be kept confidential except that they will be subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. Furthermore, both parties agree the appraisal of real estate requires market data to perform competent analysis;therefore, the appraisers are released to utilize subject data in the Integra Realty Resources/Appraisal Institute database. We will require a retainer of$2,450 in order to initiate Phase I of the assignment. After inspecting the property, if it is found that the scope of the assignment is significantly different from what was anticipated, we will notify you immediately to discuss modification of the fee(s) or the scope of the assignment. If an agreement cannot be made in regard to the modification of the fee(s) or the scope of the assignment, a fee reflecting the time spent on the inspection will be charged, and the agreement to perform the professional service will be mutually terminated. The fee(s)will be due upon delivery of Phase I and Phase II. Unless arrangements are made otherwise, a late charge of 18% per annum will be charged on any balance not paid within thirty(30) days of delivery of the assignment. Integra Realty Resources- Indianapolis will provide one PDF electronic and two bound copies of each written report (if desired); additional bound copies will be available at the actual cost of reproduction. Additional services, including testimony or attendance at any court or administrative proceedings relative to this assignment, as well as any other services or work performed in preparation for(or support of) such proceedings, will be billed at $300 per hour for David Hall, MAI,AICP, and $350 for Michael C. Lady, MAI, SRA, ASA, CCIM, FRICS. If this proposal is acceptable to you, please authorize us to proceed by signing in the space provided below. Please return one copy to us and retain one copy for your files. Thank you for considering us for this assignment,and we look forward to working with you. Sincerely, Mr. Rob Waiz Economic Development & Redevelopment January 26, 2017 Page 4 INTEGRA REALTY RESOURCES—INDIANAPOLIS David Hall, MAI,AICP Managing Director Indiana Certified General Appraiser Indiana Certificate#CG40901214 Michael C. Lady, MAI, SRA,ASA, CCIM, FRICS Senior Managing Director Indiana Certified General Appraiser Indiana Certificate#CG69100223 AGREED&ACCEP D OF DAY THIS 2017. � , y BY: Signature Name(Print)