HomeMy WebLinkAboutC-1862 - Proposed appraisal open space portion PE Right of WayCITY OF NEWPORT BEACH
CALIFORNIA
City Hall
3300 W. Newport Blvd.
Area Code 714
673 -2110
DATE _Sqpta ber 3. 1976
TO: FINANCE DIRECIUR
FROM: City Cleric
SUBJECT: Contract No. 1962
Description of Contract Appraisal Op" Spaca portion P.B, r -0-v
Authorized by Resolution No. Mona Sinned 9/3/76 by City Mar.
Effective date of Contract 913176
Contract with — _Richard A. puller. M. A. 1.
Address _ site 653. 610 Mmsort Center Dr., Masport B each. G 92660
Amount of Contract Su Contract
City Cler c
MEMBER
AMERICAN INSTITUTE OF
REAL ESTATE APPRAISERS
RICHARD A. FULLER, M. A. I.
APPRAISER AND CONSULTANT
SUITE 655
610 NEWPORT CENTER DRIVE
NEWPONT %EACH, CALIFORNIA 92660
August 31, 1976
AREA CODE 714
TELEPHONE 644 -4040
Mr. Robert L. Wynn
City Manager
City of Newport Beach
330Q Newport Boulevard
Newport Beach, California 92663
Dear Mr. Wynn:
RE: Proposed Appraisal of
Open Space Portion of
Pacific Electric Right of Way,
Located in Newport Beach, Ca.
At you request, I am submitting this proposal for the appraisal of the
above referenced property. The purpose of this assignment is to estimate
the fair market value range of said property, as of current date.
At your instruction, the appraisal report will be submitted in letter
form. All market data, factual data, reasoning, .computations, descriptions,
analyses, photographs, and discussions, from which, in part, the valuation
conclusion was derived, will be retained in my files, and available upon
request.
The fee for this assignment, will range from $1,750.00 to $2,250,00,
but will, in no event, exceed $2,250.00. The fee estimate will include two
copies of the appraisal report. I would anticipate 60 to 90 days from the
date of authorization, for the completion of these appraisal services.
The preparation of the appraisal report would be based upon the following
assumptions:
1) That the highest and best use of the subject site, would be
environmental and recreational open space .
2) That a legal description, and a current title report, will be
available for review. If said title report is not available, the
property will be appraised as if unencumbered by easements, or
other conditions of title .
'.�'� ... _...
0 0
Mr. Robert L. Wynn
August 31, 1976
Page Two
3) That maps will be provided, Vich delineate the exact boundaries
and size estimates of those parcels to be appraised.
4) That the interest to be appraised is fee simple estate.
5) That the valuation estimate, will be exclusive of subsurface rights,
if any.
6) That all engineering computations will be the responsibility of
others.
7) That 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 Newport Beach on this appraisal assignment.
RAF:Ij
ry truly yours, `-
(IZZ-2
G
Richard A. Fuller, M.A.I.
CITY OF NEWPORT BEACH
APPROVED:
DATE:_TI"_ 1 " L
RICHARD A. FULLER, M. A. I.