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SCOPE OF SERVICES (Continued) <br />The sequence of the appraisal process is generally as follows: <br />A notification letter will be sent to the individual property owners <br />advising them of the (1) proposed redevelopment project, (2) <br />necessity of the formal appraisal study, and (3) right of the owner or <br />owner's representative to accompany the appraiser at the time of <br />formal appraisal inspection. The Office Administrator will be <br />responsible for this task. Scott A. Lidgard, MAI will respond <br />personally to inquiries of all property owners. <br />A formal inspection by Scott A Lidgard, MAI, will be conducted of the <br />subject properties for the purpose of becoming completely familiar <br />with the physical and functional character- istics thereof, as well as <br />the influence of the immediate physical environment, and the <br />general economic and sociological environment. Certain larger <br />scale property inspections may involve the assistance of the Jason <br />P. Boyer and Jason T. Clayton, Market Research Analysts. <br />.._In._the_case_of_ right- .of -w- ay _acquisition studies, a__r_eview. Qf_prQject_____ <br />plans and specifications will be conducted by Scott A. Lidgard for the <br />purpose of becoming familiar with the potential impact to the parent <br />ownership by the proposed taking. Consideration will be given to <br />project benefits and /or severance damages which may incur to the <br />parent property by virtue of construction of the public project in the <br />manner proposed. <br />Market research will be conducted in the general subject area for <br />sales and rental data of properties reasonably similar to the subject <br />properties. The sales data will be confirmed with a party of interest <br />(buyer, seller, broker). The Market Research Associate will be <br />responsible for the collection of primary and secondary data under <br />the supervision of the Principal Appraiser. <br />The valuation analysis will be conducted by Scott A. Lidgard, based <br />upon market data in the general subject market area. An analysis <br />will be conducted and a comparison made of the subject property to <br />the various sale properties with respect to the various elements of <br />comparability i.e. location, immediate environmental influences, land <br />size, zoning, developability, etc. <br />The formal narrative appraisal report will be prepared in summation <br />of the activities outline above. The report will be suitable for <br />acquisition /condemnation purposes. Further, the valuation studies <br />LIDGARD AND ASSOCIATES <br />APPRAISERS- CONSULTANTS <br />7 <br />25L -45 <br />