HomeMy WebLinkAboutRatify Appraisal of Vacant Land APN 653-420-021fly
CITY OF PALM DESERT
CITY MANAGER'S OFFICE
STAFF REPORT
REQUEST: RATIFY CITY MANAGER APPROVAL OF AN APPRAISAL OF REAL
PROPERTY, IN THE AMOUNT OF $3,500, TO CAPITAL REALTY
ANALYSTS (PALM DESERT, CA).
SUBMITTED BY: Stephen Y. Aryan, Assistant to the City Manager
DATE: October 26, 2006
ATTACHMENTS: 1. Capital Reality Analysts Invoice No. 06-1969
RECOMMENDATION
By Minute Motion:
RATIFY City Manager Approval Of An Appraisal of Real Property, in the Amount of
$3,500, to Capital Realty Analysts (Palm Desert, CA).
APPROPRIATE $3,500 From Account No. 110-4159-415-3090 for Appraisal
Services.
BACKGROUND
On October 6, 2006, Capital Realty Analysts submitted a summary appraisal concerning 8.26
acres of vacant land, located along the north side of Gerald Ford Drive, east of Cook Street,
within the City of Palm Desert (a portion of APN 653-420-021). The City Manager was
authorized to enter into negotiation with the property owner to acquire this land parcel and the
appraisal performed will assist Staff in negotiating the best purchase price. The intended
purpose of this transaction is to identify a viable location for a new City of Palm Desert fire
station. The City Council is respectfully requested to ratify the City Manager's approval of the
summary appraisal in the amount of $3,500.
Prepared by:
ice., Q..
Stephen Y. AryarY
Assistant to the City Manager
Approved by:
Reviewed by;
Luis E 2ioza
A/Dire for of Finance
CITY COUNCIL,ACTION:
APPROVED ✓ . DENIED
RECEIVED OTHER
NSEETDATE
AYES:
Carlos L. Q�fega Nun' : N "
ABSENT: orj,e,
ABSTAIN: 11\1
VVERCIrFIED BY: 1 egg L G:1CityMgr.JaneStanley\WordFiles1SteveAryan\AppraisalRatify Sllreieyt4.aC on File With 1t.y CIeFilS o 1 Of fire
City Manager
Capital Realty Analysts
41-865 Boardwalk, Suite 201
Palm Desert, CA 92211
BILL TO
City of Palm Desert
Attn: Mr. Stephen Aryan
73-510 Fred Waring Drive
Palm Desert, CA 92260
ITEM
Appraisal - C Appraisal Fee - Commercial
SHIP TO
City of Palm Desert
Attn: Mr. Stephen Aryan
73-510 Fred Waring Drive
Palm Desert, CA 92260
DESCRIPTION
Invoice
DATE INVOICE #
10/6/2006
8.26 Acres Of Vacant Land, Located Along The North Side of Gerald Ford Drive,
East of Cook Street, Palm Desert, Riverside County, CA.; Otherwise Known As A
Portion Of APN 653-420-021, Riverside County, CA.
Total
Federal Employer identification Number: 33-0740705
06-1969
TERMS
AMOUNT
3,500.00
$3,500.00
CAPITAL REALTY ANALYSTS
REAL ESTATE APPRAISERS* ANALYSTS. ADVISORS
41-865 BOARDWALK, SUITE 201
PALM DESERT, CA 92211
September 19, 2006
City of Palm Desert
Attn: Mr. Stephen Aryan
73-510 Fred Waring Drive
Palm Desert, CA. 92260
RE: Appraisal Request for "8.26-Acre Land Parcel"
Dear Mr. Aryan:
Cid
reultyyth4so . crom
Pursuant to your request, I am pleased to submit this proposal for appraisal services in
connection with the above captioned property. Based our previous discussion, I understand the
parameters of the assignment to be as follows:
Property Type:
Location:
APN:
Type of Report:
Reporting Format:
Date of Value:
Purpose of Appraisal:
Function of Appraisal:
Property Rights:
Vacant Land
North side of Gerald Ford Drive, east of Cook Street, Palm
Desert, CA.
To Be Supplied, Riverside County, CA.
Complete Appraisal
Summary Report
9/06 or Client's Option
Market Value "As Is"
Internal Use
Fee Simple Estate
The valuation will be prepared in accordance with the Uniform Standards of Professional
Appraisal Practice. The fee proposal for this assignment is $3,500. The fee quote is inclusive of
all expenses and charges. The required retainer is $0. The date of completion of the assignment is
3 weeks from the engagement date or sooner if possible.
Upon completion, I will provide you with 3 copies of the report, or more at your request. I will
proceed with the preparation of this appraisal upon receipt of a signed copy of this engagement
letter and the retainer. Thank you, and please feel free to phone me if I can answer questions or
be of additional assistance.
Agreed and Accepted
Agreed and Accepted
Capital Realty Analysts City of Palm Desert
Michael A. Scarcella, MAI
Mr. Carlos L. Ortega, City Manager
PHONE: (760) 779-9004
FAX: (760) 779-9815
http: r/realtyadvisor.com