ELLIS GROUP, INC. DBA INTEGRA REALTY RESOURCES, LOS ANGELES

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Response to RFP No. 16-062 for On -Call Right of Way Property Appraisal Services 4 Inspection, analysis, and appraisal completion. Limited amounts of research assistance may be provided by less senior appraisal staff, under the direct guidance and supervision of the project's senior appraiser. All assignments are reviewed by one of the firm's MAls, who will also sign the appraisal report and take full responsibility for its content. Upon final review, the report Is delivered to the client. If requested, a draft of the report will be submitted for review prior to finalization. Appraisal assignments are completed with the use of the most appropriate valuation methods for the specific property type. These Include the Sales Comparison Approach, the Income Approach, and the Cost Approach. For single-family residential properties and land appraisals, the Sales Comparison Approach is usually the most relevant approach and Is typically the only one that has application to the property. For income -producing properties, Including multifamily residential properties, the Income Approach is commonly utilized, along with the Sales Comparison Approach. For buildings that are newer (non-residential), or which contain fairly specialized Improvements, the Cost Approach is frequently relevant. In the process of completing part -take acquisitions, we give full consideration to possible severance damages and benefits that may accrue to the remainder parcels as a result of the acquisition and project. The appraisers of IRR-Los Angeles have qualified as experts and have performed reviews and testified on these specific valuation methods and applications as referenced on the professional qualifications that are made a part of this proposal. When an acquisition results in the services of a FF&E and/or business goodwill appraiser being involved, we coordinate directly with them to ensure that all items are accounted for and also to ensure that there Is no double counting of compensable items. Upon receipt of notice to proceed, our work will progress through the completion of the following steps and others that may be deemed relevant as we complete the assignments. Please note that the time schedule below assumes multiple property appraisals are awarded at a single time. This timeframe can be compressed for smaller assignments or to meet client needs. Week 1 1. Beth Finestone will notify her administrative assistant of all jobs awarded and assign them to key personnel. 2. Within 24 hours, each Individual property will be assigned a job number, posted on EMITS and attached to a routing form that follows the project through the production process. As part of this process all of the properties are input Into QataPoint, our proprietary data management system utilized in part to coordinate large property assignments. 3. Meet with client to review mapping, ownership records, aerial photos, and other project -specific documents. 4. Organize a series of work notebooks (one for each property being appraised) that will allow us to maintain a high level of organization throughout the project. 5. Prepare and send owner notification letters. 6. Request all necessary data from Client. Weeks 2-3 7. Begin research for comparable sales and for relevant land use issues in appropriate jurisdictions. 8. Review subject title reports (if available). 9. Review the easement deeds for the subject properties. 10. Conduct onsite inspections of the subject properties and meet the property owners who have responded positively to our offers to do so. For properties where the owner does not respond, we Inspect from the public right of way. 11. Complete field inspection of comparable sale transactions. 12. Conduct confirmation interviews for the comparable sales. 13. Meet with representatives of relevant jurisdictions to review land planning maps and documents and to conduct appropriate interviews concerning zoning and general plans.