Appraisal bid LANDVESTRoundhouse-SIGNED3-27-18 LANDVEST, INC.
March 16, 2018
Wayne Feiden, Director of Planning & Sustainability
City of Northampton
210 Main Street, City Hall
Northampton, MA 01060
RE: Proposal for Appraisal Services:
4 fee acquisitions; 4 temporary construction easements
Roundhouse Parking Lot expansion
Off Clark Avenue, off Old South Street, Northampton, MA
Dear Wayne:
I have prepared this proposal for an appraisal of property in Northampton as depicted on a plan
prepared by Daniel F. Stasz PLS #47160. The land in question is under four separate
ownerships: (1) Parcel A is comprised of 2,363 sq. ft. and is owned by the City of Northampton
Housing Authority; (2) Parcel B with 430 sq. ft. is owned by Elizabeth Hynes; (3) Parcel C – 891
sq. ft. owned by Biapita, LLC; and, Parcel D – 105 sq. ft. owned by 3-5 Clark Avenue, LLC. In
addition you have asked for an appraisal of four temporary slope and construction easements.
The project is the Roundhouse Parking Lot expansion project.
You have asked me to appraise the property and provide separate values for each acquisition and
separate values for each temporary easement.
I will prepare a full narrative appraisal report in conformance with the Uniform Standards of
Professional Appraisal Practice (USPAP). The appraisal will take 30-45 days to complete.
Thank you for giving us the opportunity to be involved with this project. If you wish to discuss
this further please contact me at 978-575-0662.
Respectfully yours,
Jay E. Closser, Senior Advisor
LandVest, Inc.
445 Tully Road
Orange, MA 01364
jclosser@landvest.com
Phone: 978-575-0662
LANDVEST, INC.
PROPOSAL FOR REAL ESTATE ADVISORY SERVICES
This serves as a proposal for services to be provided by LandVest’s Real Estate Consulting
Group (hereinafter “LandVest”) to Wayne Feiden of The City of Northampton (hereinafter
“client”) in connection with property in Northampton, MA (hereinafter “subject property”).
Client endorsement constitutes acceptance of this proposal, which, once accepted, serves as a
legally binding contract between the aforementioned parties.
PROPERTY DATA:
ADDRESS: off Clark Avenue; off Old South Street,
Northampton, MA
OWNER(S) OF RECORD: Northampton Housing Authority; Elizabeth
Hynes; Biapita, LLC; and 3-5 Clark Avenue,
LLC
PARCEL ID: Portion of Map 310-222; 223; 224; 226
DESCRIPTION: 0.86+/- acres in fee; temporary slope area
not defined
CLIENT GOAL/OBJECTIVE:
To have LandVest’s Real Estate Consulting Group provide Appraisal Services for the identified
property above and prepare an appraisal wherein LandVest reports its opinion as to the market
value of the identified property as of the date of inspection. The appraisal report will be prepared
in conformance with the Uniform Standards of Professional Appraisal Practice (USPAP).
INTENDED USERS/USE OF REPORT:
The appraisal report will be used by The City of Northampton to establish the market value of
the property for potential acquisition purposes.
SCOPE OF SERVICE:
1. Site Inspection/Information Review - To include a full inspection of the subject
land, and a review of relevant regulatory information and existing entitlements as
may affect the subject property’s value.
2. Highest and Best Use – I will prepare plans showing the property in its current
configuration. This process will include sales review and analysis in which I will
review local and regional sales of similar properties.
LANDVEST, INC.
3.Valuation analysis - I will analyze the property based on sales of similar properties,
and potential ground rent. I will consider any damages resulting from the acquisition.
4. Report Preparation - The valuation conclusions will be reported in conformance
with the Uniform Standards of Professional Appraisal Practice (USPAP).
PROFESSIONAL FEES/SCHEDULING
LandVest’s Real Estate Consulting Group is a fee-based division of the company. There is no
implied obligation to use other LandVest services if the Consulting Group is retained in an
advisory role.
Professional fees for the completion of the above-outlined Scope of Service are estimated as
follows:
$ 4,800
Project-related expenses for travel, photography, reprographics and report printing are included.
I will provide the Client with pdf copies of the report and hardcopies as requested.
LandVest appraiser, and Senior Advisor, Jay Closser, a licensed appraiser in the States of Maine,
New Hampshire, New York, Vermont and the Commonwealth of Massachusetts will prepare the
analysis.
AUTHORIZATION
If this proposal meets your approval, please sign and date where provided below, retain a copy
for your records, and return the original at your earliest convenience. The fee will be invoiced
upon completion of Task 4, and payment is due within 30 days of the invoice date.
It is a condition to this engagement that the total liability, in the aggregate, of LandVest and its
officers and employees, for any claim brought by the Client in connection with this engagement
shall not exceed the total compensation received by LandVest under this agreement, except for
any liability arising from LandVest’s gross negligence or willful misconduct.
Thank you for considering LandVest’s services.
_________________________________ ___________
Authorized Signature Date
_______________ ___________________ _______________
Telephone # Fax # E-Mail
March 27, 2018
413-587-1265 WFeiden@NorthamptonMA.gov
LANDVEST, INC.
Jay E. Closser, ASA
445 Tully Road
Orange, MA 01364
Senior Advisor, Real Estate Consulting Group, LandVest, Inc.
Jay E. Closser is a Senior Advisor with the Real Estate Consulting Group of LandVest, Inc., a
broad-based real estate company involved in all aspects of land planning, real estate brokerage,
consulting, development, and conservation planning. As Senior Advisor, he is responsible for
residential and commercial appraisals, development feasibility studies, land use planning and
design, and implementation of development projects.
Prior to joining LandVest, Inc., Mr. Closser was the Principal of Temple Hill Associates, an
appraisal firm owned by Mr. Closser. He was also the Town Appraiser in Concord, MA, a
position where he was responsible for the valuation of all real estate in the town for taxation
purposes. Mr. Closser has lectured and published articles on the Valuation of Land under
Conservation Restrictions.
Mr. Closser received a Bachelor of Arts degree in English from Princeton University in 1975.
He is a Certified General Appraiser with Massachusetts General License CG #730; New
Hampshire General License NHCG #779; Maine General License CG #1523; New York General
License #46000042271, and Vermont General License #80-232. He is an Affiliate of the
Appraisal Institute. He is a Member of the American Society of Appraisers.