HomeMy WebLinkAboutCRE Consulting, LLC/ENG/$6,750/136th Street Path Connections ASA #612/11/2024
ExhibitA
ScopeofServices
CRE CONSULTING, LLC
thPROJECT : 136St Path Connections
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:
Three (3) “Value Finding” type Real Estate Appraisals, relating to proposed right of way
thvaluationandacquisitionneedsforthe136Street Path Connections Project in 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 isfully incorporated herein.
The City agrees to compensate Professional in the total amount not to exceed Six Thousand
Seven Hundred Fifty Dollars ($6,750.00).
When the City desires additional Services from Professional, including additional appraisal
services and/or buyer'sagent services, the City shall notify Professional of such additional
Services desired, as well as the time frame in which same are to beprovided. Only after the
City has approved Professional' stime and costestimate 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 tothe City. Acopy of the City'sauthorization documents for the purchase of
additional Services shall be numbered and attached hereto in the order in which they are
approved by theCity.
General Scope ofServices:
Appraisals are to be prepared consistent with the Uniform Standards of Professional Appraisal Practice
USPAP). Professional will assure that the appraisal isrelevant to its program needs, reflect established
and commonly accepted appraisal practice, and as aminimum, complies with the definition of appraisal in
24.2(a)(3) and thefive following requirements:
i. An adequate description of thephysical 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, ifany, title information, location, zoning, present use, an analysis of highest
and best use, and at least a5-year sales history of the property.
ii. All relevant and reliable approaches to value consistent with established appraisal practices.
Ifthe appraiser uses more than one approach, there shall bean analysis and reconciliation of
approaches to value used that issufficient tosupport the appraiser'sopinion ofvalue.
iii. A description of comparable sales, including adescription of all relevant physical, legal, and
economic factors such as parties to the transaction, source and method of financing, and
verification by aparty involved in the transaction.
iv. Astatement of the value of the real property to be acquired and, for apartial 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 orincrease in the fair market value of the real property
caused by the project forwhich the property isto 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.
Ifthe owner of areal property improvement ispermitted toretain itfor removal from the project site, the
amount tobe offered for the interest in the real property tobe acquired shall be not less than the
difference between the amount determined tobe just compensation for the owner'sentire interest inthe
real property and the salvage value of the retained improvement.
Initial Fee for Services: