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Approach to Scope of Services <br />Hennessey & Hennessey is a real estate appraisal consulting firm with experience in the <br />appraisal of real estate for acquisition purposes for public agencies. The overriding goal in our <br />approach to our work plan is to complete work in a timely and technically correct manner, as <br />well as treating the people impacted by a project in a respectful and equitable manner. <br />Following is Hennessey & Hennessey's approach to the scope of appraisal services. <br />Define the appraisal problem, including identifying the real estate and real property <br />rights to be valued, the date of value estimate, the use of the appraisal, the definition of <br />fair market value, and other assumptions and limiting conditions. <br />2. Send by mail, in compliance with the statutory requirement, a letter to each parcel <br />owner offering the opportunity to accompany the appraiser during the inspection of the <br />property. This notice and all contacts with the property owner will be recorded in the <br />parcel's file. <br />3. For part -take assignments, contact the City/Agency's representative to request <br />surveyor stake or mark the right-of-way line on the subject property(ies). <br />4. On-site inspections of the subject properties. Photograph, measure, and itemize the <br />improvements. For partial acquisitions, and itemize the items within the part taken. <br />5. Field investigation of the subject properties' environs, including gathering data on the <br />region, the city, and the neighborhood from governmental agencies, real estate <br />agencies, newspaper articles, city historical documents, planning and zoning <br />documents from the appropriate city, and information from county and city taxing <br />authorities. This data is gathered in order to analyze the pertinent trends affecting the <br />value of the property. <br />6. Analyze the highest and best use of each of the subject properties as though vacant and <br />available for development and as improved. <br />Conduct a search for and analysis of relevant, comparable data from the County of <br />Orange Assessor's Records, the title report, if supplied, the City's Planning Depart- <br />ment, and other data sources, including buyers, sellers, and brokers. <br />The above information will be used in the application of the three approaches to value, <br />if applicable: the Cost Approach, the Sales Comparison Approach, and the Income <br />Capitalization Approach. <br />9. Estimate and analyze the fair market value of full acquisitions and partial acquisitions. <br />In regard to the partial acquisition, specifically analyze the part taken and any damage <br />Proposal to the City of Santa Ana <br />Consultants - RFP for Appraisal Services <br />