Laserfiche WebLink
June 12, 2020 <br />Chris Heineman, City Administrator <br />Commercial Land Site - SWC of Middle Street and Market Place Drive <br />The effective date of this appraisal is June 5, 2020, which is the date of inspection. Based on my <br />investigation, I have formed the opinion that the property value, as of June 5, 2020 is: <br /> <br />Financial and real estate markets are in a state of uncertainty associated with the novel <br />coronavirus/COVID-19. The outbreak of COVID-19 is a rapidly evolving situation and the effects <br />on real estate markets are currently unclear. As such, it is difficult to predict the effects both on <br />a near-term and long-term basis. Our opinions and conclusions are based on information <br />available and accounts for market perception as of the effective date of value. Your attention is <br />drawn to Assumptions & Limiting Conditions #5, #6, #7 and #8. <br /> <br />Extraordinary Assumptions <br />An extraordinary assumption is defined in USPAP as an assignment-specific assumption as of <br />the effective date regarding uncertain information used in an analysis which, if found to be false, <br />could alter the appraiser’s opinions or conclusions. The value conclusions are subject to the <br />following extraordinary assumptions that may affect the assignment results. <br /> <br />Hypothetical Conditions <br />A hypothetical condition is defined in USPAP as a condition, directly related to a specific <br />assignment, which is contrary to what is known by the appraiser to exist on the effective date of <br />the assignment results, but is used for the purpose of analysis. The value conclusions are based <br />on the following hypothetical conditions that may affect the assignment results. <br /> <br />The appraisal was developed based on, and this report has been prepared in conformance with <br />the Client’s appraisal requirements, the guidelines and recommendations set forth in the Uniform <br />Standards of Professional Appraisal Practice (USPAP), and the requirements of the Code of <br />Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. <br />Value Conclusions <br />Appraisal Premise Interest Appraised Date of Value Value Conclusion <br />Market Value "AS IS" Fee Simple 6/5/2020 $340,000 <br />1. None <br />1. None