HomeMy WebLinkAboutCRE Consulting, LLC/ENG/$4,500/Westfield Blvd Path ASAExhibit A
Scope ofServices
CRE CONSULTING, LLC
PROJECT : Westfield Blvd Path
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:
Two (2) Real Estate Appraisals, relating toproposed right ofway valuation and acquisition needs
for the Westfield Blvd Path Project in Carmel, Indiana, in accordance with the terms and
conditions contained inthe Agreement and the attached Schedule of Fees provided by
Professional to the City which is fully incorporated herein.
The Cityagrees tocompensate Professional inthetotal amount nottoexceed Four Thousand
Five Hundred Dollars ($4,500.00).
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 inwhich same are to be provided. Only after the
City has approved Professional' stime and cost estimate for the provision of such additional
Services, hasencumbered sufficient monies to pay for same, and has authorized Professional,
in writing, to provide such additional Services, shall such Services beprovided byProfessional
totheCity. Acopy 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 aminimum, 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 ofhighest 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. 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 inthe 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 ofthe
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 thedifference
between the amount determined tobe just compensation for the owner's entire interest in thereal property
and the salvage value of the retained improvement.