20D - AA VACANT LAND PURCHASE - Laserfiche WebLink

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LRIA ➢A1+T�il The date of value employed in this report, and all opinions and computations expressed herein, are based on October 9, 2017, said date being generally concurrent with the valuation analysis process. PURPOSE OF THE APPRAISAL The purpose of this appraisal report is to express an estimate of the unen- cumbered fee simple market value of the subject property, absent any liens, leases, or other encumbrances, as of the date of value set forth above. The definition of market value is set forth in the following portion of this section following the heading "Definition of Market Value". Further, it is the purpose of this appraisal report to describe the subject property, and to render an opinion of the highest and best use based on (1) the character of existing and potential development of the property ap- praised, (2) the requirements of local governmental authorities affecting the subject property, (3) the reasonable demand in the open market for proper- ties similar to the subject property, and (4) the location of the subject proper- ty considered with respect to other existing and competitive districts within the immediate subject market area. Further, it is the purpose of this appraisal report to provide an outline of cer- tain factual and inferential information which was compiled and analyzed in the process of completing this appraisal study. INTENT AND USERS OF APPRAISAL The intended use of this appraisal report is to assist the City of Santa Ana in purchase negotiations with the private property owner. Intended users are City officials, along with consultants thereof, for Vie explicit purpose and in- tent indicated above. This report is not intended to be distributed to, or re- lied upon by, third parties. The property rights appraised herein are those of the unencumbered fee simple interest. Fee simple is defined in the 12� Edition of The Appraisal of Real Estate. as, "Absolute ownership by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, em- inentdomain, police power, and escheat." LIDGARD AND ASSOCIATES APPRAISBAS-CONSULTANTS C 20D-18