HomeMy WebLinkAboutC-1722 - Appraisal of Ocean Front lots in Balboa areaNEWPORT aEACKi ,CAEIFORNIA 92660 r 4it!
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DATE DEPT.
June.23, 1875 City Council
/E,NDCIR - _ _ SHIP TO
(SAME UNLESS OTHERWISE NOTED)
.Richard A. Fuller, M. A. 1.
.'610 NeImport Center Drive Suite '655
Newport Reach, Calif., 92660
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Appraisal services for 17 lots on the Ocean front in
Balboa as per contract
Not to exceed
Contract 17 ?2
Resolution 8513
IMPORTANT
621416wo 7500.00 The Articles covered by this Purchase Order or Contract must con-
. form with the Safety. Orders of the State of California. Division
of Industrial Safety.
Show as a separate item any retail sales tax, use tax or Federal
tax applicable to this purchase.
This order subject to California sales tax.
All allowable transportation charges must be prepaid and shown as
a separate item on the invoice. Do not include Federal transports
tion tax.
DEPARMW 09PY
D. W. MEANS
PURCHASING AGENT
CITY OF NEWPORT BEACH
CALIFORNIA
DATE June 20, 1975
TO: FINANCE DIRECTOR
FROM: City Clerk
SUBJECT: Contract No. 1722
City Hall
3300 W. Newport Blvd,
Area Code 714
673 -2110
Description of Contract Appraisal services for 17 lots on the ocean
front in Balboa
Authorized by Resolution No. 6513 , adopted on June 9, 1975
Effective date of Contract June 19, 1975
Contract with Richard A. _Uller, M.A.I.
Address Suite 655, 510 Newport Center Drive
Newport Reach, CA 92660
Amount of Contract Less than $7,500. ^0
�7 -city e c
June 20, 1975
Richard A. 'Fuller, M.A.I.
suite 655
610 Newport Center Drive
Newport Reach, CA 92660
Subject: Appraisal of:
17 Ocean tint lots,
i,ocated between E Street and Alvarado Street,
Newport Reach, California
C -1722
Enclosed is a fully executed copy of a Letter. Agreement for
subject appraisal.
The City Council authorized said agreement on Jame 9, 1975
by the adoption of Resolution No. X513.
Laura Lagios , 04C
City Clerk
LL: ,wk
enc.
cc: `'arks, eaches 6 Recreation Director
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RICHARD A. FUL4ER, M. A
APPRAISER AND CONSULTANT
MEMBER SUITE 655 AREA CODE 714
AMERICAN INSTITUTE OF TELEPHONE 644 -4040
610 NEWPORT CENTER DRIVE
REAL ESTATE APPRAISERS NEWPORT BEACH, CALIFORNIA 92660
May 16, 1975
Mr. Calvin C. Stewart
Director
Parks, Beaches and Recreation
City of Newport Beach
3300 Newport Boulevard
Newport Beach, California 92660
Dear Mr, Stewart:
RE: Appraisal of:
17 Ocean Front Lots,
Located Between E Street
and Alvarado Street,
Newport Beach, California
At your request, I am submitting this proposal for the appraisal of the above
referenced lots. The purpose of this assignment is to estimate the fair market
value of said lots, based on my opinion of highest and best use.
After previously discussing this matter with yourself, Mr. Wynn. Mr.
O'Neil, personnel from the State Department of Parks and Recreation, and others
familiar with the subject property, it is my opinion that a thorough valuation
analysis should include the following factors:
1) The effect on value, of any prescriptive rights, which may have
been established by the public.
2) An investigation as to those uses which would be permitted by the
State of California Coastal Commission.
3) It is my understanding that these sites are within Fire Zone No, 1,
and as such would require additional fire retardant construction.
The effect on this requirement upon the highest and best use of the
subject property, should be considered.
4) It is my understanding that the subject sites are presently zoned
R -1, Single Family Residential. An investigation should be com-
pleted which would specifically set out those uses which would be
permitted within this zoning classification.
Mr. Calvin C. Stewart
May 16, 1975
Page Two
5) That the definition of the actual parcel boundaries should be
completed prior to the conclusion of value . Following is my
understanding of the three sources of parcel size:
11 Orange County assessor maps.
2) Those boundaries set out in the 1906 Subdivision Map.
3) A proposal which would establish the southwesterly
boundary at the present mean high tide line.
After reviewing the Procedure For Preparing An Appraisal Report, prepared
by the State of California Department of Parks and Recreation, it is my conclusion
that this report would be comprehensive in content. All supporting factual data,
reasoning, computations, photographs, property descriptions, and market data
should be set out within the appraisal. Based upon our discussion, all of the
above supporting data for each of the 17 subject properties, will be included
within one appraisal report.
My fee for this assignment will range from $5, 000 to $7, 500, but will in
no event, exceed $7,500. The fee estimate will include two copies of the appraisal
report, with additional copies to be provided at a cost of $100 per report. I would
anticipate 60 to 90 days from the date of authorization, for the completion of these
appraisal services. In the preparation of this appraisal report, it would be beneficial
if the City of Newport Beach could supply the following items:
1) A written opinion, by the City Attorney's office, that the public does,
or does not have a prescriptive right over the subject property.
2) A copy of a current Title Report.
3) A conclusion as to the final boundary determination for the subject
properties.
4) Necessary assistance from the City of Newport Beach Public Works
Department and Community Development Department.
The submission of this report constitutes completion of the services authorized.
It is assumed that customary compensation will be provided for any subsequent
depositions, conferences, additional preparation, or testimony. If these terms
are acceptable, you may authorize me to proceed by signing and returning the
enclosed copy of this letter. I look forward to being of service to the City of
RICHARD A. FULLER, M. A. 1.
i •
Mr, Calvin C. Stewart
May 16, 1975
Page Three
Newport Beach on this appraisal assignment.
RAF:lj
y truly yours,
G-
Richard A. Fuller, M.A.I.
CITY OF NEWPORT BEACH
APPROVAL: ��I.
r,
iviayor
DATE: UN
Attest:
City C1
RICHARD A. FULLER, M. A.I.
0 0
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING THE MAYOR AND
CITY CLERX TO EXECUTE ANT AGREEMENT BETWEEN
THE CITY OF NEWPORT BEACH AND RICHARD A.
FULLER IN CONNECTION WITH THE APPRAISAL OF
OCEAN FRONT LOTS IN THE BALBOA AREA
WHEREAS, Richard A. Fuller, M.A.I. has submitted a
proposal in connection wih the appraisal of seventeen ocean
front lots in the Balboa area; and
WHEREAS, the City Council has reviewed said proposal
and found it to be fair and equitable and in the best interest
of the City;
NOW, THEREFORE, BE IT RESOLVED that the City Council
of the City of Newport Beach approves the proposal of Richard A.
Fuller, and the Mayor and City Clerk are hereby authorized and
directed to accept and execute the same on behalf of the City of
Newport Beach.
ATTEST:
ty
ADOPTED this 9th
day of June , 1975.
Mayor
DDO /bc
6/9/75