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HomeMy WebLinkAboutResolution BPW 03-15-23-02/Traynor & Associates, LLC/$2000/560 3rd Ave SW AppraisalRESOLUTION NO. BPW 03-15-23-02 RESOLUTION OF THE CITY OF CARMEL BOARD OF PUBLIC WORKS AND SAFETY ACKNOWLEDGING AGREEMENT BETWEEN CITY AND VENDOR WHEREAS, pursuant to Indiana Code 36-1-4-7, the City of Carmel, Indiana (“City”), is authorized to enter into contracts; and WHEREAS, pursuant to Indiana Code 36-4-5-3, the City’smayor may enter into contracts on behalf ofthe City; and WHEREAS, pursuant to his authority under Indiana law, the City’smayor, the Honorable James C. Brainard, has caused to be signed the Agreement attached hereto (the “Contract”); and WHEREAS, Mayor Brainard now wishes to present the contract to the City’sBoard of Public Works and Safety for it to be publicly acknowledged, filed in the Clerk’sOffice, and made available to the public for review. NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Board of Public Works and Safety as follows: 1. The foregoing Recitals are incorporated herein by this reference. 2. The receipt of the Contract is hereby acknowledged. 3. The Contract shall be promptly filed in the office of the Clerk and thereafter made available to the public for review. SO RESOLVED this day of , 2023. CITY OF CARMEL, INDIANA By and through its Board of Public Works and Safety BY: James Brainard, Presiding Officer Date: Mary Ann Burke, Member Date: Lori S. Watson, Member Date: ATTEST: Sue Wolfgang, Clerk Date: S:\\EBass\\MyDocuments\\BPW-Resolutions\\2023\\Acknowledge Agreement Traynor & Associates, Inc. - 560 3rd AveSW.docx3/6/2023 3:05PM DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2 3/15/2023 15th 3/15/2023 3/15/2023 Not Present March DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2 Exhibit A Traynor&Associates,Inc. RealEstateAppraising &Consulting February 10, 2023 Mr. Sergey Grechukhin City of Carmel 1 Civic Square Carmel, Indiana 46032 RE:Appraisal Report Traynor # 23151 rd5603Ave SW Carmel, Indiana 46032 Parcel # 29-09-25-405-011.000-018 Dear Mr. Grechukhin, Traynor & Associates, Inc. is submitting a Letter of Engagement for a signed agreement to perform an appraisal for the above referenced property. The appraisal report results will be communicated in an appraisal of the market value, as per the Uniform Standards of Professional Appraisal Practice USPAP). The clientand intended useris the City of Carmel.The intended use is to estimate an “As Is” exterior only)market value of the subject, referenced above, in order to provide an estimated market value conclusion for the City of Carmel, the client, to assist in internal decision making. The total fee for the appraisal is $2,000 and payment due upon completion ofthe report. In the event, if it is necessary for you the client to stop work on the appraisal, you agree to pay for time and costs incurred prior to the receipt of written notice of such a stop order. Our appraisal work will start upon receipt of a signed copy of this letter of engagement. The fee for the appraisal is for the service rendered and not necessarily the time spent in preparation of the actual physical report. The above fee does not include $125 per hour for research and deposition. The above fee does not include a charge for court appearances or appearances before government agencies to give testimony, if such should be required. The fee for such services will be Two Hundred Twenty Five Dollars($225.00) per hour,with a minimum of Nine Hundred Dollars($900.00). These rates are subject to change,but will remain valid for a period of six (6) months, from the date of execution of this agreement. One half (½) days’ notice of the cancellation of a scheduled court appearance is required and in lieu of such notice, the minimum appearance fee of Nine Hundred Dollars 900.00), will be charged. The minimum fee is due prior to testimony. TH6750E75Street Indianapolis, IN 46250 317)813-4990 www.traynorassociates.cominfo@traynorassociates.com DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2 Traynor&Associates,Inc. RealEstateAppraising &Consulting The findings and conclusions of the appraisal will be reported to our client. The findings will not be reported to any other individuals, unless we are otherwise authorized. It will be necessary for us to disclose the fact that we are undertaking the appraisal as we proceed through the investigation process. The evaluation and analysis of the subject property as it appears in the appraisal review report will be the opinion of Joseph C. Traynor, his associates and staff. The fee for this appraisal is not contingent upon any particular conclusions. The appraiser’s liability to the client is limited to the amount of the fee as liquidated damages. The appraisers hereby limit their liability to the client alone and the use of the appraisal by third parties shall be at the risk of the client and/or the third party. We will have the appraisals completed within 4 weeks, from the execution of this agreement. We thank you for your interest in our firm’s services. If this contract meets with your approval, please so indicate by your signature. Upon receipt, please return a signed copy. Sincerely, Joseph C. Traynor, MRICS Indiana Certified General Appraiser #CG69100233 President Traynor & Associates, Inc. AcceptedBy: Date: TH6750E75Street Indianapolis, IN 46250 317) 813-4990 www.traynorassociates.cominfo@traynorassociates.com DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2 Traynor&Associates,Inc. RealEstateAppraising &Consulting ASSUMPTIONS ANDLIMITING CONDITIONS THIS APPRAISAL IS SUBJECT TO THE FOLLOWING UNDERLYING ASSUMPTIONS AND QUALIFYING AND LIMITING CONDITIONS: 1.This is an Appraisal Report, which is intended to comply with the reporting requirements set forth under Standard Rule 2 2(a) of the Uniform Standards of Professional Appraisal Practice for an Appraisal Report. As such, it includes a discussion of the data, reasoning and analyses that were used in the appraisal process to develop the appraiser’s opinion of value. It also includes descriptionsof the subject property, the property's locale, the market for the property type, and the appraiser’s opinion of the highest and best use. 2.The value of the property is expressed in dollars on the date specified and is subject to any changes in the value of the dollar. All existing liens or encumbrances have been disregarded and the property is appraised as though free and clear under responsible ownership and competent management. 3.The legal description furnished is assumed to be correct. No survey was available unless otherwise stated) and the dimensions used are from sources deemed to be reliable. 4.All information and comments concerning the location, neighborhood, trends, construction quality and costs, loss in value from whatever cause, condition, rents, or any other data of the property appraised herein represent the estimates and opinions of the appraiser, formed after an examination and study of the property. 5.All engineering is assumed to be correct. The plot plans and illustrative material in this report are included only to assist the reader in visualizing the property. 6.It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures that render it more or less valuable. No responsibility is assumed for such conditions or for arranging for engineering studies that may be required to discover them. 7.It is assumed that there is full compliance with all-applicable federal, state and local environmental regulations and laws unless noncompliance is stated, defined and TH6750E75Street Indianapolis, IN 46250 317) 813-4990 www.traynorassociates.cominfo@traynorassociates.com DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2 Traynor&Associates,Inc. RealEstateAppraising &Consulting considered in the appraisal report. 8.It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a nonconformity has been stated, defined and considered in the appraisal report. 9.It is assumed thatall required licenses, certificates of occupancy, consents or other legislative or administrative authority from any local, state or national government or private entity or organization have been or can be obtained or renewed for any use on which the value estate contained in this report is based. 10.It is assumed that the utilization of the land and improvements is within the boundaries or property lines of the property described and that there is no encroachment or trespass unless noted in the report. 11.The forecasts, projections or operating estimates contained herein are based upon current market conditions, anticipated short term supply and demand factors and a continued stable economy. These forecasts are, therefore, subject to changes in future conditions. 12.In preparing this appraisal, the appraisers were required to rely on information furnished by other individuals or found in previously existing records and/or documents. While it is believed the information, estimates and analysis given and the opinions and conclusions drawn therefrom are correct, the appraisers do not guarantee them and assumes no liability for any errors in fact, in analysis, or in judgment as a result of the inaccuracy of such information. No attempt has been made to render an opinion of title or status of easements or of any other matter of a legal nature. 13.The distribution of the total valuation in this report between land and improvements apply only under the existing program or utilization. The separate valuations for land and buildings must not be used in conjunction with any other appraisal and are invalid if so used. 14.Possession of this report, or a copy thereof, does not carry with it the right of publication, nor may it be used for any purpose by any but the client for whom it was made without the consent of the appraisers or the client. 15.The fee for this appraisal does not provide compensation for conference or TH6750E75Street Indianapolis, IN 46250 317) 813-4990 www.traynorassociates.cominfo@traynorassociates.com DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2 Traynor&Associates,Inc. RealEstateAppraising &Consulting testimony or attendance in court, with reference to the property in question. 16.This appraisal represents the independent opinions of the appraiser’sfree from any commitments and free from any present or contemplated future interest in the property, with the sole compensation for the employment being a fair professional fee. 17.Neither the fee nor the employment to make the appraisal was contingent on the value to be reported. Further, the appraisal was not based on a requested minimum valuation, specific valuation or the approval of a loan. 18.The existence of hazardous material, whichmay or may not be present on the property, was not observed by the appraisers. The appraisers have no knowledge of the existence of such materials on or in the property unless specifically stated within the appraisal report. The appraisers are not qualified to detect such substances and no responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field, if there is any suspicion of hazardous material. 19.The presence of substances such as asbestos, urea-formaldehyde foam insulation, radon gas, or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. 20.The Americans with Disabilities Act (“ADA”) became effective January 26, 1992. It is possible that a compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. Since we have no direct evidence relating to this issue, we did not consider possible noncompliance with the requirements of ADA in estimating the value of the property. TH6750E75Street Indianapolis, IN 46250 317) 813-4990 www.traynorassociates.cominfo@traynorassociates.com DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2 Traynor&Associates,Inc. RealEstateAppraising &Consulting TH6750E75Street Indianapolis, IN 46250 317) 813-4990 www.traynorassociates.cominfo@traynorassociates.com DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2 Traynor&Associates,Inc. RealEstateAppraising &Consulting TH6750E75Street Indianapolis, IN 46250 317) 813-4990 www.traynorassociates.cominfo@traynorassociates.com DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2 DocuSign Envelope ID: D44A0317-A70F-4F0F-9017-1CF02E5D29D2