HomeMy WebLinkAboutCRE Consulting, LLC/ENG/$2,140/126th St & River Road RAB ASA #48/9/24
Exhibit A
Scope of Services
CRE CONSULTING, LLC
PROJECT : 22-ENG-07
APPRAISAL SERVICES
This Scope of Services ("Scope") combined with the attached agreement describe the relationship
between CRE CONSLUTING, LLC ("Professional") and the City of Carmel, Indiana ("City") (collectively
Parties"). This Scope hereby incorporates and includes the terms of the attached Agreement (the
Terms") which describe and set forth the general legal terms governing the relationship between the
Parties (collectively the "Agreement"). The Agreement will be effective when executed by both Parties.
Professional shall provide general professional services, consisting of:
One (1) “Value Finding” type Real Estate Appraisals, relating to proposed right of way valuation
and acquisition needs for Project 20-ENG-07 located at 126th Street and River Rd, Carmel,
Indiana, in accordance with the terms and conditions contained in the Agreement and the
attached Schedule of Fees provided by Professional to the City which is fully incorporated
herein.
The City agrees to compensate Professional in the total amount not to exceed Two Thousand
One Hundred Forty Dollars ($2,140.00).
When the City desires additional Services from Professional, including additional appraisal
services and/or buyer's agent services, the City shall notify Professional of such additional
Services desired, as well as the time frame in which same are to be provided. Only after the
City has approved Professional' s time and cost estimate for the provision of such additional
Services, has encumbered sufficient monies to pay for same, and has authorized
Professional, in writing, to provide such additional Services, shall such Services be provided
by Professional to the City. A copy of the City's authorization documents for the purchase of
additional Services shall be numbered and attached hereto in the order in which they are
approved by the City.
General Scope of Services:
Appraisals are to be prepared consistent with the Uniform Standards of Professional Appraisal Practice
USPAP). Professional will assure that the appraisal is relevant to its program needs, reflect established
and commonly accepted appraisal practice, and as a minimum, complies with the definition of appraisal in
24.2(a)(3) and the five following requirements:
i. An adequate description of the physical characteristics of the property being appraised (and,
in the case of a partial acquisition, an adequate description of the remaining property),
including items identified as personal property, a statement of the known and observed
encumbrances, if any, title information, location, zoning, present use, an analysis of highest
and best use, and at least a 5-year sales history of the property.
ii. All relevant and reliable approaches to value consistent with established appraisal practices.
If the appraiser uses more than one approach, there shall be an analysis and reconciliation of
approaches to value used that is sufficient to support the appraiser's opinion of value.
iii. A description of comparable sales, including a description of all relevant physical, legal, and
economic factors such as parties to the transaction, source and method of financing, and
verification by a party involved in the transaction.
iv. A statement of the value of the real property to be acquired and, for a partial acquisition, a
statement of the value of the damages and benefits, if any, to the remaining real property,
where appropriate.
v. The effective date of valuation, date of appraisal, signature, and certification of the appraiser.
The appraiser shall disregard any decrease or increase in the fair market value of the real property
caused by the project for which the property is to be acquired, or by the likelihood that the property
would be acquired for the project, other than that due to physical deterioration within the reasonable
control of the owner.
If the owner of a real property improvement is permitted to retain it for removal from the project site, the
amount to be offered for the interest in the real property to be acquired shall be not less than the
difference between the amount determined to be just compensation for the owner's entire interest in the
real property and the salvage value of the retained improvement.
Initial Fee for Services: