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City of Santa Ana Public Works Agency Response to RFP for General Right of Way Services e. Utilize generally accepted valuation methodology to estimate the fair market value in continued use and liquidation value of the appropriate items owned by the business. Goodwi"usiness Valuations 1. Provide preliminary goodwill loss estimates to be used for initial settlement purposes. Preliminary goodwill loss studies will be based upon any and all data, which may be provided by the business owner, including owner/management interviews and historical financial statements. Additionally, a site and area inspection, market research and financial review will be performed. 2. The preliminary goodwill loss estimates shall be presented in a letter (three originals) with attached schedules. Included with this letter will be the purpose and function of the assignment, the sources of information relied upon, a brief description of the business appraised, and the valuation methodology employed. 3. The California Eminent Domain Statutes clearly state that only goodwill loss is compensable, not total goodwill. It is; therefore, essential that the goodwill appraisal be responsive to the statutes and presents the acquirer with goodwill loss amounts. Goodwill loss appraisals will be transmitted in the form as a statement of valuation data that meets or exceeds the requirements for exchange in legal proceedings of the jurisdiction in which the business are located. The purpose of the goodwill loss appraisals will be to determine the goodwill loss, if any, to the business as a result of eminent domain actions. Review Appraisals Review appraisals will be provided for each appraisal in accordance with state and federal laws, as well as Caltrans and City policies and procedures. Review appraisals will meet USPAP, Standards Rule 3- 1(g) and will include a check of all mathematical calculations and a determination that all relevant and appropriate appraisal methodologies have been employed. Review appraisals and the original appraisals will be forwarded to the City to establish Just Compensation for the acquisition of the property needed for each specific assignment. Appraisals will be reviewed to (a) Ensure the appraiser's documentation, including valuation data and the analysis of the data, demonstrates the soundness of the appraiser's opinion of value and that the appraisal report conforms to the requirements of established appraisal practices; and (b) Ensure the appraised amount is equitable and represents a proper amount for the offer and just compensation in accordance with the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended, and Gov. Code 7260 et. Seq. Negotiation and Acquisition 1. Paragon will attend project start-up meetings with the City staff and other consultants. Also, we will attend regular project status meetings. 2. Obtain costs for appraisal services, including Furniture and Equipment ("F&E"), if applicable, and submit to City staff for final approval and coordinate with staff and appraisers for any ] questions/comments regarding the reports. i 5