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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.