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�t ; R • A: i� , •` <br />r <br />e � <br />Project <br />APN(s) <br />OCTA No. <br />Interest(s) Appraised <br />Date of Value <br />Appraised Value <br />Recommendation of Just Compensation <br />OC Streetcar Project <br />APN:007-iD0-04 & DS <br />OCS-002 & 003 <br />Fee <br />August 29, 2016 <br />$2,239,000 <br />In accordance with the acquisition of the subject property, the following actions have been <br />undertaken in conformity witii 49 CFR Part 24 `Uniform Relocation Assistance and Real <br />Property Acqulsitlon for Federal and Federally -Assisted Programs" and the Caltrans Right of <br />Way Procedures Manual; <br />1. A fee appraisal to ascertain Fair Market Value was prepared by Integra Realty <br />Resources — Los Angeles. <br />2. A formal review of the fee appraisal was prepared by R.P. Laurain & Associates to <br />certify the appraisal of Fair Market Value. <br />3. A Limited Phase II Environmental Site Assessment and a Supplemental Phase II <br />Environmental Investigation were prepared by Eco & Associates, Inc. <br />4. A Cost Estimate for Remediation of Hydrocarbon Impacted Soil was prepared by <br />Eco & Associates, Inc. <br />49 CFR Part 24, Subpart B Section 24.102(d) states that before the initiation of negotiations, <br />the Agency shall establish an amount which it believes is Just Compensation for the real <br />property. The amount shall not be less than the approved appraisal of the Fair Market Value of <br />the property. <br />An Agency. official must establish the amount believed to be just compensatlon. Promptly <br />thereafter, the Agency shall make a written offer to the owner to acquire the property for the full <br />amount believed to be Just Compensation. Fair Market Value as per California Code of Civil <br />Procedure 1263.320 is defined as the highest price on the date of valuation that would be <br />agreed to by a salter, being willing to sell but under no particular or urgent necessity for so <br />doing, nor obliged to sell, and a buyer, being ready, willing, and able to buy but under no <br />particular necessity for so doing, each dealing with the other with full knowledge of all the uses <br />and purposes for which the property is reasonably adaptable and available. <br />We hereby recommend that the value of $2,239,000, based upon the fee appraisal prepared by <br />Integra Realty Resources — Los Angeles, to be determined to be the probable amount of Just <br />Compensation by the Orange County Transportation Authority. Please see the attached table <br />for further explanation: <br />Recommended For <br />Date: ✓ �% <br />By <br />P Blip L. onina <br />Project Manager <br />Paragon Partners Ltd <br />II97r3L1 <br />Concurrence By, <br />Date: <br />0 <br />Senior Real Property Agent <br />Orange County Transportation Authority <br />5762 Bolsa Avenue, Suite 2011 Huniington Beach, California 92649 <br />7501-9 <br />