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HENNESSEY & HENNESSEY LLC <br />A California Limited Liability Company <br />Real Estate Appraisers <br />17602 17' Street, Suite 102-246 • Tustin, California 92780-7915 <br />(714) 730-0744 • e-mail: appraisals@h-hllc.com <br />Joseph A. Hennessey, SR/WA (1928-2016) <br />Senior Member, International Right of Way Association <br />June 13, 2023 <br />Ms. Haley Gilbert <br />Project Manager, CIP Engineering <br />City of Santa Ana <br />Public Works Agency (M-36) <br />20 Civic Center Plaza <br />P.O. Box 1988 <br />Santa Ana, CA 92702 <br />RE: Restricted Appraisal Report covering <br />City of Santa Ana Ownership <br />±4,025 Portion of APN 410-071-44 <br />Santa Ana, California <br />Sharon A. Hennessey, MAI, SR/WA, AI-GRS <br />Certified General Real Estate Appraiser <br />MAI Designated Member of the Appraisal Institute <br />AI-GRS Designated Member of the Appraisal Institute <br />Senior Member, International Right of Way Association <br />At your request and authorization, herewith is submitted a Restricted Appraisal Report, as defined <br />by the Uniform Standards of Professional Appraisal Practice, covering the above -referenced subject <br />property. A Restricted Appraisal Report is appropriate in this instance because this report is for the <br />client's use only. <br />Per the City of Santa Ana, the subject property is ±4,025 square feet. The subject property does not <br />have a street address. It is identified as a portion of APN 410-071-44. <br />The purpose of this appraisal is to estimate the range of market value of the subject property as of <br />the effective date of the appraisal. This appraisal report is intended to provide our client, the City <br />of Santa Ana, with an estimated range of market value for the subject property to be used for <br />internal decision -making purposes, including possible sale of the property to the abutting <br />ownership to its south side. The intended users of this report are the employees and duly <br />authorized representatives of the City of Santa Ana. <br />The effective date of the appraisal is June 9, 2023. The date of the report is June 13, 2023. <br />Opinion of Value <br />It is the appraiser's opinion that the market value range of the subject property as of the date <br />of value, June 9, 2023, subject to the assumptions and limited conditions state herein, is: <br />$4,800 to $16,100 <br />