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EXHIBIT 3 <br />VaIbridge Public Pay Parking Lot <br />PROPERTY ADVISORS TABLE OF CONTENTS <br />Table of Contents <br />Cover Page <br />Letter of Transmittal <br />Table of Contents.... <br />Summary of Salient <br />Aerial View ................. <br />LocationMap.............................................................................................................................................................................iv <br />SubjectPhotos............................................................................................................................................................................v <br />Introduction.................................................................................................................................................................................1 <br />Scopeof Work............................................................................................................................................................................3 <br />RegionalArea Analysis............................................................................................................................................................5 <br />Cityand Neighborhood Analysis.....................................................................................................................................11 <br />SiteDescription.......................................................................................................................................................................14 <br />ImprovementsDescription.................................................................................................................................................18 <br />Assessmentand Tax Data...................................................................................................................................................19 <br />MarketAnalysis.......................................................................................................................................................................20 <br />Highestand Best Use............................................................................................................................................................23 <br />AppraisalMethodology.......................................................................................................................................................27 <br />LandValuation.........................................................................................................................................................................28 <br />Glossary................................................................................................................................................................................. 53 <br />Engagement Letter <br />Qualifications <br />© 2015 VALBRIDGE PROPERTY ADVISORS I Penner and Associates, Inc. Page i <br />SA4-26 <br />