HomeMy WebLinkAboutItem #04 Approval of Bluford Avenue Drainange Project Purchase Agreement - Kalsi Property111%ka %.M�f
0C0(>e_
florida
AGENDA ITEM COVER SHEET
Meeting Date: January 21, 2014
Item # �}—
Reviewed By
Contact Name: Stephen C. Krug Department Director:
Contact Number: 6002 City Manager:
Subject: Bluford Avenue Drainage Project Purchase Agreement — Kalsi Property.
Commissioner Johnson, District 3.
Background Summary:
The City Commission approved the acquisition of right of way required for the Bluford Avenue
Stormwater Project at the November 19, 2013 meeting, authorizing the Attorney to make the statutorily
required pre- condemnation offer letters at the appraised values and then proceed to eminent domain.
Mr. Jasbir Kalsi, Parcels 102 & 702, has agreed to accept the appraised values for both parcels totaling
$17,160.00.
Public Works recommends the Commission approve the attached Purchase Agreement in order to
begin the property acquisition phase of the project. This is the first of five acquisitions required for the
project. The property acquisition is adequately funded in the project budget.
Issue:
Request the City Commission approve right of way purchase agreement for the Kalsi parcels required to
construct the Bluford Avenue Stormwater project from Columbus Street to 7 Street.
Recommendations:
Recommend approval of the Purchase Agreement for the Kalsi parcels, nos. 102 & 702, at the
appraised value of $17,160.00, authorize the Mayor to execute the Agreement and to authorize Staff to
take all further action necessary to close the purchase.
Attachments:
Doty Solik Law Memorandum, January 7, 2014, Bluford Ave. Improvement Project.
Purchase Agreement — Kalsi property, Parcels 102 & 702.
Appraisal — Kalsi property, Parcels 102 & 702.
Financial Impact:
The property acquisition is adequately funded in the Stormwater Division budget for the project.
Type of Item: (please mark with an 'Y)
Public Hearing
For Clerk's Dept Use:
Ordinance First Reading
Consent Agenda
Ordinance Second Reading
Public Hearing
Resolution
Regular Agenda
X Commission Approval
Discussion & Direction
Original Document/Contract Attached for Execution by City Clerk
X Original Document/Contract Held by Department for Execution
Reviewed by City Attorney
Reviewed by Finance Dept.
Reviewed by ( )
N/A
N/A
N/A
2
DOT
LAW
Mary Doty Solik, Esq, 407- 367 -7868
121 S. Orange Ave.. STE 1500 msolikCdotysoliklaw.com
Orlando, FL 32801
MEMORANDUM
TO: The Honorable Mayor & Commissioners of the City of Ocoee
FROM: Mary D. Solik, Esq.
Special Counsel
DATE: January 7, 2014
RE: Bluford Ave nue Stormwater & Utility Improvement Project
Pursuant to City Commission direction, offer letters to purchase the necessary right -of -way
for the referenced project were sent to the 5 affected property owners in late November. We have
received a signed Purchase Agreement from Jasbir Kalsi, one of the affected owners. Mr. Kalsi
has agreed to convey his property to the City at its appraised value of $17,160.00. The Purchase
Agreement is attached.
RE
It is respectfully recommend that the City Commission approve the attached Purchase
Agreement and authorize the Mayor to execute the Agreement and to authorize Staff to take all
further action necessary to close the purchase.
cc: Steve Krug, Public Works Director
Scott Cookson, City Attorney
1 U RCI LA SE AC RE. FAIENJ
This Purchase _Agreement (tile ":vgrecmem ") is made and entered into this --
day of 201 in and between Kisbir S, KaW whose address is 620 Ferguson
1), I I 2TS1014 (hcrcin.W referral w as the "Seller")- and the CITY OF
O(`OEE, a 1-blia municipal corporation. �khosc address is 150 North Lakeshore Drive,
Ocote. t-hWi 32761 (hereinafter related to as the
\Y ITNESS EA 11:
\NrlIFAEAS, the Seller is the o«ner of fee simply title to certain real property
IUCated in ('ounQ. 1 loriila, as more particulark desc'rihcd in Exhibit "A" Ithe
. hopemf * I, and attached hereto and b j this reference wade apart hereon: a
\VIjF11 E.XS, the City is a l kKka municipal corporation "hich is authorized to
c\ercise condemnation pov�ers pur,uant to ('haptcr I6(i- Florida Statutes: and
U11EREAS, the Cit) is constructing the 1NAn "chic Storntwater anti I TiN '
Intptorcment Protect (the "Pnict l and in umnecabn Tew"ith need, to acquire from
the Seller title to the 1'r Taq 1AW stornn\ater. utiliQ, and roadcvzQ purposes: and
%1WREAS, the (its ha, a& ised Seller that if the (IQ and the Seller do not
enter into an agI cemcnl for the purchase and sale of the Property that the (its intend, to
use its power of eminent domain to condemn its required intcrc,t in the I'ropert�: and
\\'t1F.ttl':�kS. Sella'- under threat of condcnmation. has a,Irced to sell the Proper
to the ('its, and the (its has igrccd to purchase the I'ropert), to�,'cthcr Stith am and all
impro\emcnts. stntcture . fixture, and appurtcnaices thereto on the terms and conditions
stated be&vv
NOT, TIIEREMRE, in con,idcration of the promkv and other good and
yaIIt all lc consideration, C\changed bet%cccn the parties hereto. the receipt and sul'fi Cie nct
of yyhich is licrchy acknoy%lcdged. the panics hereto agree as ti�llrnls:
1. Recitals the ahoye recitals are true and correct and are incorporated
herein by reference.
,_ The Purchase — The Proyert- Seller. under threat of am.lcrrtnation.
aurces to sell and 111c City agrees to purchase. for the purchase price and on the terns, and
conditions herein set too - th. the Propert�. together with all tenement,. hereditanients.
mpreyement ,nvctunts, li\tttres. tCe,. ,hruhherc, roads and easentcin, appertaining
thereto and all of the Scller's right. title, and interest thcrcin I he Se11CI shall auttcc to
the City marketable. loc simple title to the Property by special "arrmtty decd free and
clear of all liens, mortgage, and cncumhranCCS. C\Cept lit restrictions, rescrvations and
ca,Cntcnt< of rccurd. it any lhr in,trument of Conveyiutce shall t<unfcr all of Seller',
interest in and to all III pT- emCnts. Iistures. Ca ;emCnt ". tree,. shrtthhcn, rights- , }t - %vay.
tenement, luld appurtenances hclon ;zginL or to the Property, ittcludinz?
yyitltout limiuUion of we Owpoinp, all right. title and intcre,t of Seller in and to any land
lying in the hcd of any ;Ircci_ alley, road or INcnuc (before or alter tacition thereof. and
yyhethcr prey iously ihandoned or tacMeLi or hereafter abandoncd or %aLmekI
Purchase Price the Purchase Pricc for the Property shall be
tit ;VF.N'I'G1 ?N I'HUt SAND ONE HIENDI2ED SIN'fl' AND NOI100 DOLLARS
(j17,160.00) (the *Purcha,c Pricc I he panic, heresy; acknovklcdpc and agree that ihC
PUIChl,1,C puce•: (it) constitutCS lull Compensation to the SCIIeT fit the rxluc of the
Property and the rc,tltant damage, it' any . to the remainder of the lands adjacent thcrcto
(Mlled bN the Seller: (b) include, full compensation to the Seller ibr all frees_,hruhhcry
and other improvements on the PropertN. all of Nellich maN be ICIII -cd h% the Ofy in
connection e\ith the Project and (c) iucludes compensation and reimbursement to the
Seller 1 201 - all cost, and expenses incurred or to be incurred incident to thi, ng,reenlenl anti
the closing, hereof. inrludilIL' but not limited to attorneys' tees and appraisal ices.
4. Clusim Costs; Tax Proration 1 he OtN shall pat all closin-z costs
a,sociatcd with this A includinu all rccordimg, fee, and docurncntarc stamp
taxes relatim- to of resulting from the translcr of title to the City of the Property Real
properte law, in connection eeith the comeNance of the Property shall he prorated a, of
tile day of the acceptance of tite comev ance bN the City and the prorated amount ,hail he
paid by the Seller and shall be e,c (mcd in accortlancc «ith the prop isions of Section
1e16.? >, Horida Statutes.
Maintenance of Access 1 hroug,hoin the Projcct. the Cite e. %ill maintain
t� Seller's benefit access to the adjacent 1<alds omicd by the Seller as of the data hereof
(the " P crew I Tact")_ prat ided, HIM till' SrIICr ark110%v ledge Ihat there 111m be
temporary periods durin,,, v%I)ich access to the Parent .I ract ma} he temporarily rerouted
due to comu acticniC, associated Keith the Project -
6. Closing C losin, of title for the Property shall take phcc at the offices of
Scan Cookson_ City Attorneti. Shufficid. I ownrtn fi t0 ilson. P -A -. 111tH) Legion P1acc,
StritC 1700, Orlando. hlorida on or before June ?U. 2014. 1 he (M ', leLA COun,ei shale
be respon,ibie fir the preparation of cio,ing document,. at the Cit�", expen,e
7- Additional Documentation ht connection v.ith the conveyance of the
Propert\ the Seller shall execute such closin' doClli11Cn15 as ma} reasonahk he rceluircd
b% the City. including but nett limited to a standard ti,rm no -lien affidavit. a non - foreign
certification_ and a closing: statement.
R- Use of Propertk Prior to Closin . From the date hera?fthn)(Igh the date
k)f acquisition apt the Prt)pertq. the (ity through its con;ttltants. cmilractors and
rntplo�cc,. will he and are hcrob% authuri /rd to enter upon the Property for the purposes
�f Ila%ing. sciellnhe investigation, sur%c�ing and the taking of soil h(lrings in connectiml
% %ith the Project, "Am burin , hk)lcs made hN the ('it shall he pi ntptIN tilled and packed
to the Surrounding earth Icv cl h% the ('it%.
U. Further Documentation the parties auree that at am imc litlloming a
request therekm by the i partv. rash shalt eseeutr and deliver to the other parts such
further dUCUmt'nt5 and insh•umrnt;_ in form and sub;tattcc rea, necessary to
cunlirm and m efIectuate the obligations ufeither party hereunder and the cunsunu»ation
411 the transacti„ns amtemplatted hereh\ the pnwisiott; t tilk parae.raph ;hail ;uni�e
the clu ;im�-
t U. Specific Performance Boob the ( it} and the Seller shall have the right to
cntorce tite terms and cemditions t,I this ALircenient h� an action ltor specific prrfornruicc.
1 I Cone of fasenee I ime i, ut the essence liar tlli; Agrrement and in the
pertimnartee of all ceInditions, ro%rnantS. reyuhrements. obligatituts and %tian wit ies to he
performed or satisfied by the parties hereto
I'. :',arccmcnt-, Amendment Ilu, rVgrerment cemstitute., the entire
a rcemcnt l,cuceen the parties, and supersede, all previous di;CLI;Si011s, tutder;tandi W
and agrccntent,. with respect ti) the .subject matter hcreot. rlmcndrnrnts to and ti�ai�a>
of the pray isions of this Agreement shall be prole h� the parties oniti in v%riting b� formal
amendment
1 I. Applicable Law phis Agreement shall be a>nstrued and interpreted in
accordance kt ith the Lms of the `;late of Florida.
ld_ Disclosure of Beneficial Interest ('ontcmporancou> with the execution
of this Aureement. Sella shall deliver to the ('its a pohlic disclosure of its henclicial
o"ncrship which shall comply "ith the requirements set forth in Section 286.2 1. Florida
Statute 1 his Agrectnem constitutes a \4rittcn notice from the ('its to Seller requesting
the foregoing dISCIQSnrc and informing Seller that such disclosure nnut he made under
oath. subject to the penalties prescribed for perjure.
15. Successors and Assigns This Agrectnent shall he binding upon and inure
to the benefit of the parties hereto. their respcc(kc legal rcpresentati�es. ascccssors. heirs
and assigns
16. 10-'otiated Price to be «'ithout Nreiudice I he purchase price specified
heicin NwU ncgotcucd b) the parties on the hark of trial price IN the t'e ywj and shall
he Xtithout prejudice to am part}. and inadmissable in am comicnutation proccedings
«hich might hcrcinalter he hrcwght if this transaction is not closed liar am rca,un
\ +hatsoe\ er.
17. Time for Acceptance the Stiller is irrc\ocabl� executing this
g Icement prior to appriWA h1 the ( Q: prodded. 110 "CArr. that in the nvm the %
does not appro%c and execute this - 1I_ on or bef6rc March _'S. 3014. than the
Seller's ememon hereof shall he autontaticull> terminated and the On shall
immcdiaick return to the Seller the executed ori�linals hcreuY:
18. EffectiN c Date I l 1A'tCcfi\c Date of this Aurccniciii shall be the date
[]I'll it is executed bN the ( it and such date shall he inserted on the front page of this
Au rCelli ell t,
IN kX I UNEISS NN 11FIRFOV the parties hereto ha%k: duk C\CCUICd this
\ to become ct as of the date and \car first chow \\riucn.
Siuned. scaled and deh%ered
in I tile presence of:
SEILLEA
JASBIR S. KA p"S11
si scaled and deh crcd
in the j1;'0'A!jjCC k1f:
CITN :
CITN OF 000FL, it I 101 - itil 1111-1111CIP,11
S scoll
'Mawr
\ttcsl
Bolt [Actiberr\
Ot% ('1crk
JAITIX
I wcuted oll,
m
for use and reliance only h, the ('its of
Ocoee. Florida. Appro%cd a; to lornt and
Icplit� this da< of
201
lip-
Name: - - -
Citti Attornc�
APPROVED BV THE OCOEE. CITY
COMMISSION AT A MEETING
FIELD ON
201_ UNDER AGENDA ITEM NA
SCH
PARM 1 0z
FL;,�PcSF Pi � V—V EXHIBIT A
I Page 1 of 4
rec,ldej n Pic' A" c je County. VJD
(tt, -
) ce rt tr:e North-es' c� - ne- (J -1, kocc D
Yjqes )CC W
2 1 0 fect clona the Ecist ng cl soi^. P, �-t I0
,:)
.3eyin sc paint bung on fme Nr -e W •h
`52, pu - 0 E �1 u` F ec��
- f�c Pcccrcs cf Oro -�;c Ccj 7
- r(I tirc ot sad 1 !r ,4' 39 4 4
59 1 L,
! % of C"
495P,
! 5
SURVEYORS REPQKT
)esc r pt G, hes �0
I
DESCRIPTION
F0 R
CITY C;F OCOEF
01/ 1 20Vj KH
6 tj 6 0 1'
THIS IS NOT A SURVEY.
N `-J! S�-[t V
IT
{' .'e • 1 % 'V,V8ER LB2 1 Ot3
A MAPPING CORPORATION
500 All An B
-d. 32fflo- .35c
e , , �17 0 I a 20 111
41-1
i-AND SURVEYOR NUMBER 1791
S K F 7 1"
P
F L 1002
POINT OF COMMENCEMENT
NW C,7PN[R CF R I T,'11hN • ^LA'
6 'A PAGES 100 10', PO—' ' C:'
O;Nf;f CnUWN, 0 R
7TH STREET
-1-1 -GW
�^ n
c
1 � v5;. 1k' � Flfi'
N% t "I
qk.FC7 2 OF
I ;, 0es—ot
41,
SCALE
4()
- A
SOUTHEASTERS SURVEYINI;
AND MAPPING CORPORATION
500 ' All American Ri-l—r , I C i
0,1.. 1', Florid. 32610- 4A.
(407) 292 8580 faX(407)292 01
C'ertl(wation Number LA Z108
EXHIBIT A
Page 2 of 4
POINT OF BEGINNING
PfCfDi:05 1 00
F 9� pg
I
N 8 9*
N'
All
A
IC c 4
ICA" r
z
>y
4
A
LU
cc
1 � v5;. 1k' � Flfi'
N% t "I
qk.FC7 2 OF
I ;, 0es—ot
41,
SCALE
4()
- A
SOUTHEASTERS SURVEYINI;
AND MAPPING CORPORATION
500 ' All American Ri-l—r , I C i
0,1.. 1', Florid. 32610- 4A.
(407) 292 8580 faX(407)292 01
C'ertl(wation Number LA Z108
EXHIBIT A
Page 2 of 4
All
A
>y
4
A
O
U-
m
p t r
t A 1 V i N)
WASHINGTON STREET
A,' A P I'A, 4 d'. • 4 (,55
1 � v5;. 1k' � Flfi'
N% t "I
qk.FC7 2 OF
I ;, 0es—ot
41,
SCALE
4()
- A
SOUTHEASTERS SURVEYINI;
AND MAPPING CORPORATION
500 ' All American Ri-l—r , I C i
0,1.. 1', Florid. 32610- 4A.
(407) 292 8580 faX(407)292 01
C'ertl(wation Number LA Z108
EXHIBIT A
Page 2 of 4
Lj 11
- ri
EXHIBIT A
Page 3 of 4
Vc —qtc r fJcOcc -ne pfct
C 1 k1-, , ,-,f1
SYRYMEYoR5--tTiW
A
DESCRIPTION
4 ect clorg
st
:ox. . of !c c ;c,;,t
lnt ul
;e of
io(�I, tf'ence N
c c s t,�
c
Q sa �jrd�
1 40
1TY CF 0 CO I'll,
SCIM(EASTERN SURW.YING
U 1
AN2 A I
1 ING COHPURATiON
Vi A 11 A--- 13-1--d
SYRYMEYoR5--tTiW
A
DESCRIPTION
0 18, , 'O13 KR
FOR
56
1 40
1TY CF 0 CO I'll,
SCIM(EASTERN SURW.YING
U 1
AN2 A I
1 ING COHPURATiON
Vi A 11 A--- 13-1--d
THIS IS NOT A SURVEY.
-4F
AM E 1. f;iTEWS N
I
, !t 1 7 , :, "I'l
.1 - KW:11 IANI) — NUMliKk 9751
' URVEYOK
API--E: 702 - -';- VPOR A RY CON c TP, t F Ni
POINT OF COMMENCEMENT
�PNFR 0� EILQCK 4
EXHIBIT A
new 0'
JV A . Act 111101 !C11. ;"„FN
Page 4 of 4
7TH STREET
f,:Clam' 11
COO 'A" "A,L'
POINT OF BEGINNING
3�, H. 4
�._ h l .., }. �1� Ut3�n
Q
A:: Ptk 0 i:—A, 1 !1 P1(3 46'�'
WASHINGTON STREET
6; 4t
nq %o I t ,
cte 0'/'81
!3-ECT r 2
pt,c-
SCALE
o
7
AND MAPPING CORPORATION
6500 All American
Orlando Florida 326;0 - 4350
(.407)292 8580 faXf407,,292 0141
C—hf—ti— N.-b— L13 2100,
-n. 1. I In,
APPRAISAL OF:
PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PREPARED FOR:
CITY OF OCOEE
C/O MS. MARY DOTY SOLIK
DOTY SOLIK LAW
121 SOUTH ORANGE AVENUE, SUITE 1500
ORLANDO, FLORIDA 32801
PREPARED BY:
DERANGO, BEST & ASSOCIATES
REAL ESTATE APPRAISERS, ADVISORS & CONSULTANTS
160 1 EAST AMELIA STREET
ORLANDO, FLORIDA 32803
(407) 895 -6650
DANIEL R. DERANGO, MAI, CCIM
CERT GEN RZ 1054
13 -184 Parcels 102 & 702
DERANGO, BEST & ASSOCIATES
PROFESSIONAL REAL ESTATE APPRAISERS, ADVISORS & CONSULTANTS
160 1 EAST AMELIA STREET, ORLANDO, FLORIDA 32803
October 28, 2013
City of Ocoee
c/o Ms. Mary Doty Solik
Doty Solik Law
121 South Orange Avenue, Suite 1500
Orlando, Florida 32801
RE: Appraisal of the Kalsi property, Parcel Nos. 102 and 702 Bluford Avenue Project,
Ocoee, Orange County, Florida.
Dear Ms. Solik:
We have personally inspected and appraised the above referenced property and proposed
acquisition by the City of Ocoee for the Bluford Avenue Project. The purpose of our appraisal is
to estimate the market value of the property to be acquired along with any associated cost to
cure or damages which may accrue to the remainder property. The intended use of our
appraisal is to assist the City of Ocoee in negotiations with the property owner for the
acquisition. There are no other intended users or uses for our appraisal.
Our value estimates, which are documented in the attached report, are summarized as follows:
Value of Taking
102
702
Total
Use
ROW
TICE
Land Value
$6,621
$1,639
$8,260
Improvements
$8,900
$0
$8,900
Damages to Remainder
$0
$0
$0
Cost to Cure Net
$0
1 $0
$0
Total Value of Acquisition
1 $15,521
1 $1,639
$17,160
Effective date of valuation October 21, 2013.
The values cited above are subject to the assumptions, limiting conditions, certification
statements and definitions presented within the attached summary report.
Sincerely,
DERANGO, BEST & ASSOCIATES
Daniel R. DeRango, MAI, CCIM
Cert Gen RZ1054
13 -184 Parcels 102 & 702
(407) 895 -6650 • FAX (407) 898 -8467 • MAIL @DERANGOBEST.COM
TABLE OF CONTENTS
CERTIFICATE OF VALUE PARCEL 102 ....................................................................... ..............................1
CERTIFICATE OF VALUE PARCEL 701 ....................................................................... ..............................3
CONDITIONS AND CONTINGENCIES .......................................................................... ..............................5
SPECIAL ASSUMPTIONS ............................................................................................. ............................... 5
EXECUTIVE SUMMARY ................................................................................................ ..............................6
PROPERTYPHOTOGRAPHS ....................................................................................... ..............................8
Fr iftlelelljoiN1`
PURPOSE AND INTENDED USE OF APPRAISAL .......................................................
..............................9
SCOPE OF APPRAISAL AND VALUATION METHODOLOGY ....................................
............................... 9
REPORTTYPE ..............................................................................................................
.............................10
PROPERTY INTEREST APPRAISED ...........................................................................
.............................10
LEGALDESCRIPTIONS ................................................................................................
.............................10
HISTORY OF PROPERTY (LAST FIVE YEARS) ..........................................................
.............................11
PROPERTYINSPECTION .............................................................................................
.............................11
PROPERTY DESCRIPTION BEFORE THE TAKING ................................................... .............................12
SITE DESCRIPTION ......................................................................................................
.............................12
LOCATION.....................................................................................................................
.............................12
SITE DESCRIPTION (PARENT TRACT) ......................................................................
.............................12
TOPOGRAPHY & DRAINAGE .....................................................................................
............................... 13
ASSESSMENTS AND TAXES .....................................................................................
............................... 15
ZONING, LAND USE PLANNING, CONCURRENCY ...................................................
.............................16
HIGHESTAND BEST USE ............................................................................................ .............................17
VALUATIONMETHODOLOGY ..................................................................................... .............................18
LANDVALUATION ........................................................................................................ .............................18
ANALYSIS& CONCLUSIONS ....................................................................................... .............................22
PROJECT DESCRIPTION ............................................................................................. .............................23
DESCRIPTION OF THE ACQUISITION ........................................................................ .............................24
PARCEL102 .................................................................................................................. .............................24
LANDWITHIN ACQUISITION ....................................................................................... .............................28
IMPROVEMENTS WITHIN ACQUISITION .................................................................... .............................28
VALUATIONOF PART TAKEN .................................................................................... .............................29
SUMMARY OF VALUE OF PART TAKEN ..................................................................... .............................29
VALUE OF REMAINDER LAND AS PART OF WHOLE .............................................. .............................30
APPRAISALOF REMAINDER ...................................................................................... .............................30
APPRAISALPROBLEM ................................................................................................. .............................30
DESCRIPTIONOF REMAINDER .................................................................................. .............................30
VALUATIONOF REMAINDER ...................................................................................... .............................31
LAND VALUE ....
COST TO CURE
31
31
SPECIALBENEFITS ....................................................................................................
............................... 31
LAND VALUATION OF THE TCE PARCEL 702 ...........................................................
.............................31
LAND WITHIN ACQUISITION .....................................................................................
............................... 32
IMPROVEMENTS WITHIN ACQUISITION ....................................................................
.............................32
ANNUALECONOMIC RENT .........................................................................................
.............................33
DISCOUNTRATE ..........................................................................................................
.............................33
PRESENT VALUE OF MARKET RENT .........................................................................
.............................33
COMMENTS ..................................................................................................................
.............................34
SUMMARYOF VALUES ................................................................................................
.............................34
ADDENDUM .................................................................................................................. .............................35
NEIGHBORHOOD OVERVIEW ..................................................................................... .............................36
LANDSALE DATA SHEET ........................................................................................... .............................42
QUALIFICATIONS OF APPRAISER
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 1
CERTIFICATE OF VALUE PARCEL 102
certify to the best of my knowledge and belief, that:
The statements of fact contained in this report are true and correct.
2. The reported analyses, opinion, and conclusions are limited only by the reported
assumptions and limiting conditions and are my personal, unbiased, professional
analyses, opinion, and conclusions.
3. 1 have no present or prospective interest in the property that is the subject of this
report, and I have no personal interest or bias with respect to the parties
involved.
4. My compensation is not contingent upon the reporting of a predetermined value
or direction in value that favors the cause of the client, the amount of value
estimate, the attainment of a stipulated result, or the occurrence of a subsequent
event.
5. My analyses, opinion, or conclusions were developed and this report has been
prepared in conformity with the Uniform Standards of Professional Practice, and
the provisions of Chapter 475, Part II, Florida Statutes.
6. 1 have made a personal inspection of the property that is the subject of this
report and I have afforded the property owner the opportunity to accompany me
at the time of the inspection. I have also made a personal field inspection of the
comparable sales relied upon in making this appraisal. The subject and the
comparable sales relied upon in making this appraisal are represented by the
photographs contained in this appraisal.
7. Heather Lynn Haas, who is State - certified general real estate appraiser #
RZ3203, provided professional assistance including sales research, preparation
and verification of comparable sales information, general gathering of supporting
data for the appraisal and further assistance in the writing of said appraisal.
8. 1 understand that this appraisal is to be used in connection with the acquisition of
real property by the City of Ocoee.
9. This appraisal has been made in conformity with the appropriate State laws,
regulations, policies, and procedures applicable to appraisal of right -of -way
transportation purposes; and to the best of my knowledge, no portion of the
property value entered on this certificate consists of items which are non -
compensable under the established law of the State of Florida.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 2
PARCEL 102 CERTIFICATE OF VALUE (CONTINUED)
10. 1 have not revealed the findings or results of this appraisal to anyone other than
the proper officials of the City of Ocoee and I will not do so until so authorized by
city officials, or until I am required by due process of law or until I am released
from this obligation by having publicly testified as to such findings.
11. Regardless of any stated limiting conditions or assumptions, I acknowledge that
this appraisal report and all maps, data, summaries, charts, and other exhibits
collected or prepared under this agreement shall become the property of the City
of Ocoee without restriction or limitation on their use.
12. Statements supplemental to this certification required by membership or
candidacy in a professional appraisal organization are described on an
Addendum to this certificate and, by reference, are made a part hereof.
13. 1 have not performed an appraisal, or any other service, on this property in the
past three years.
Based upon my independent appraisal and the exercise of my professional judgment,
my opinion of the market value for the part taken, including net severance damages
after special benefits, if any, of the property appraised as of the 21 St day of October
2013, is:
$15,521
Market value should be allocated as follows:
Land Area: 2,207± SF
Value of Taking
102
Land Value
$6,621
Improvements
$8,900
Damages to Remainder
$0
Cost to Cure Net
$0
Total Value of Acquisition
$15,521
10/28/2013
Daniel R. DeRango, MAI, CCIM Date
Cert Gen RZ1054
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 3
CERTIFICATE OF VALUE PARCEL 701
certify to the best of my knowledge and belief, that:
The statements of fact contained in this report are true and correct.
2. The reported analyses, opinion, and conclusions are limited only by the reported
assumptions and limiting conditions and are my personal, unbiased, professional
analyses, opinion, and conclusions.
3. 1 have no present or prospective interest in the property that is the subject of this
report, and I have no personal interest or bias with respect to the parties
involved.
4. My compensation is not contingent upon the reporting of a predetermined value
or direction in value that favors the cause of the client, the amount of value
estimate, the attainment of a stipulated result, or the occurrence of a subsequent
event.
5. My analyses, opinion, or conclusions were developed and this report has been
prepared in conformity with the Uniform Standards of Professional Practice, and
the provisions of Chapter 475, Part 11, Florida Statutes.
6. 1 have made a personal inspection of the property that is the subject of this
report and I have afforded the property owner the opportunity to accompany me
at the time of the inspection. I have also made a personal field inspection of the
comparable sales relied upon in making this appraisal. The subject and the
comparable sales relied upon in making this appraisal are represented by the
photographs contained in this appraisal.
7. Heather Lynn Haas, who is State - certified general real estate appraiser #
RZ3203, provided professional assistance including sales research, preparation
and verification of comparable sales information, general gathering of supporting
data for the appraisal and further assistance in the writing of said appraisal.
8. 1 understand that this appraisal is to be used in connection with the acquisition of
real property by the City of Ocoee.
9. This appraisal has been made in conformity with the appropriate State laws,
regulations, policies, and procedures applicable to appraisal of right -of -way
transportation purposes, and to the best of my knowledge, no portion of the
property value entered on this certificate consists of items which are non -
compensable under the established law of the State of Florida.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 4
PARCEL 701 CERTIFICATE OF VALUE (CONTINUED)
10. 1 have not revealed the findings or results of this appraisal to anyone other than
the proper officials of the City of Ocoee and I will not do so until so authorized by
city officials, or until I am required by due process of law or until I am released
from this obligation by having publicly testified as to such findings.
11. Regardless of any stated limiting conditions or assumptions, I acknowledge that
this appraisal report and all maps, data, summaries, charts, and other exhibits
collected or prepared under this agreement shall become the property of the City
of Ocoee without restriction or limitation on their use.
12. Statements supplemental to this certification required by membership or
candidacy in a professional appraisal organization are described on an
Addendum to this certificate and, by reference, are made a part hereof.
13. 1 have not performed an appraisal, or any other service, on this property in the
past three years.
Based upon my independent appraisal and the exercise of my professional judgment,
my opinion of the market value for the part taken, including net severance damages
after special benefits, if any, of the property appraised as of the 21 day of October
2013, is:
$1,639
Market value should be allocated as follows:
Land Area: 1,875± SF
Value of Taking
702
Land Value
$1,639
Improvements
$0
Damages to Remainder
$0
Cost to Cure Net
$0
Total Value of Acquisition
$1,639
10/28/2013
Daniel R. DeRango, MAI, CCIM Date
Cert Gen RZ1054
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 5
CONDITIONS AND CONTINGENCIES
SPECIAL ASSUMPTIONS
1. The appraisers have relied upon a survey and legal description prepared by
Southeastern Surveying, as shown herein. We have relied on the estimates
provided in the survey and have used the graphics to locate potential
improvements within the taking areas. We have assumed these estimates to be
accurate for purposes of our appraisal.
2. We have relied on final roadway construction plans provided by the City of
Ocoee dated June 2013. We have also relied on the graphics within the plans to
locate potential improvements within the taking areas.
3. We have relied upon title information, as supplied by Fidelity Title Insurance
Company
4. We do not have the required expertise for determining the presence or absence
of hazardous substances, defined as all hazardous or toxic materials, wastes,
pollutants or contaminants (including, but not limited to, asbestos, PCB, UFFI, or
other raw materials or chemicals) used in construction, or otherwise present on
the property. We assume no responsibility for the studies or analyses, which
would be required to determine the presence or absence of such substances.
We do not assume responsibility for loss as a result of the presence of such
substances. The value estimate is based on the assumption that the subject
property is not so affected.
5. The 1985 amendment to Chapter 163, Florida Statutes requires local
governments to adopt Comprehensive Land Use Plans that must include
adopted levels of service for seven types of public services and facilities: roads,
mass transit, sanitary sewer, storm water, potable water, solid waste, and
parks /recreation. Chapter 163 prohibits local governments from issuing
development permits if the development's impact would cause levels of service
to fall below the adopted levels. In other words, the availability of the public
services must be concurrent with the impact of the proposed or future develop-
ment.
6. This report is subject to a Concurrency Verification, and assumes that the
subject will not be affected by concurrency at this time.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 6
EXECUTIVE SUMMARY
PROPERTY LOCATION: The larger property is located along the east side of Bluford
Avenue south of 7 th Street in Ocoee, Orange County,
Florida. The street address is 474 South Bluford Avenue,
Ocoee, Florida 34761.
PARENT TRACT OVERVIEW: The larger property is a vacant 0.99± acre site. The parcel is
rectangular in shape and the western boundary abuts Bluford
Avenue.
OWNER AND ADDRESS: According to the information provided by Orange County
public records, the current property owner is:
Jasbir S. Kalsi
620 Ferguson Drive
Orlando, Florida 32805 -1014
PARENT TRACT SIZE
(BEFORE CONDITION): 0.99± Acres, 43,114± SF
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 7
ZONING (BEFORE
CONDITION): R -1AA, Single Family Dwelling, City of Ocoee
FUTURE LAND USE
DESIGNATION
(BEFORE CONDITION): Low Density Residential
HIGHEST AND BEST USE
(BEFORE CONDITION): As Vacant Low density residential development
As Improved: Continued use as improved.
ACQUISITION OVERVIEW:
Parcel No.
102
702
Use
Right -of -Way
Temporary
Construction
Interest Acquired
Fee Simple
Easement Interest
Size (SF)
2,207
1,875
Size (AC)
0.051
0.043
COMMENTS: The acquisition area is slightly irregular in shape. The parcel
is a strip of land along the road frontage. Some minor site
improvements are within the area of the taking.
REMAINDER PARCEL SIZE
(AFTER CONDITION):
HIGHEST AND BEST USE
(AFTER CONDITION):
REMAINDER CONDITION:
VALUE CONCLUSIONS:
0.94± Acres, 40,907± SF
The Highest & Best Use of the property remains unchanged
after the acquisition.
The remainder is generally the same as before the taking.
Value of Taking
102
702
Total
Use
ROW
TC E
Land Value
$6,621
$1,639
$8,260
Improvements
$8,900
$0
$8,900
Damages to Remainder
$0
$0
$0
Cost to Cure Net
$0
$0
$0
Total Value of Acquisition
1 $15,521
$1,639
$17,160
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 8
PROPERTY PHOTOGRAPHS
VIEW OF PROPERTY FROM BLUFORD AVENUE
VIEW OF AREA OF TAKING
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 9
INTRODUCTION
Floral St
m
4
Lafayette
®`P
Ohio St E (
y
N
Q
Lan
Y
Delaware St
Ocoee
E Lakeshore Q�
s Dr
kith St
X
r7
a
Ha
m
Orlando Ave
SUbj @Ct
Hormigas St
Bernadino Dr
N
> p p
} p
Q
3
p
o
0
m
Butterfly Creek
D
U) `
° Sabinal St `t M
0
W Gene+tz St
Geneva St E
o_
PURPOSE AND INTENDED USE OF APPRAISAL
The purpose of this appraisal is to estimate the market value of the unencumbered fee
simple interest in the parent tract, subject to the underlying assumptions and limiting
conditions previously mentioned. We have then estimated the value of the portion of
the property to be acquired for the described project. The appraisal refers to the value
of taking, the effect on market value of the taking, and the damages, if any, to the
remainder.
The intended use of this appraisal is for use in negotiations with the current property
owner for acquisition of a portion of land for right -of -way and a temporary construction
easement by the City of Ocoee. There are no other intended users or uses for our
appraisal.
SCOPE OF APPRAISAL AND VALUATION METHODOLOGY
Since the area of Parcels 102 and 702 were determined to have no impact on the
remainder property, we have prepared a summary appraisal of the property to
determine land value and any improvements in the takings for the parcels to be
acquired. The only approach deemed to apply was the Sales Comparison Approach in
estimating land value. A Sales Comparison Approach was used in establishing the
value of the underlying land for the partial taking based on the taking as part of the
whole, "as if vacant ".
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 10
REPORT TYPE
This is a Summary Appraisal Report, which is intended to comply with the reporting
requirements set forth under Standards Rule 2 -2(b) of the Uniform Standards of
Professional Appraisal Practice for a Summary Appraisal Report.
PROPERTY INTEREST APPRAISED
• Parent Tract: Fee Simple Interest.
• Parcel 102: Fee Simple Interest.
• Parcel 702: Easement Interest.
LEGAL DESCRIPTIONS
Parent Tract
THE NORTH I OF LOT 36, L ESS THE NORTH 34.00 FEET, AND THE
SOUTH 4.00 FEET OF THE NORTH 34.00 FEET OF LOT 36, LESS THE
EAST 88,00 FEET, IN BLOCK 4, "TOWN OF OCOEE" ACCORDING
TO THE PLAT THEREOF AS RECORDED IN PLAT SOAK "A" AT
PAGE 100 OF THE PUBLIC RECORDS OF ORANGE COUNTY,
FLORIDA.
Source: Orange County Official Records Book 4460 Page 252.
Parcel 102 Right -of -Way
tne(E recoroe0 '7 l.jco ,.��. -OBE.> LU Cti "O�Oi" :� "� L..''C _!"., 'r i � :', f,4e �...,_ y�, i r _ `
Is
;; v:'� �i .:C .. ;:i: : � ..i 'i:;;f "c" f, i
,. _
the ,.;t Soy o L,�`17� T ^vE ^ue i ^ar.� ...� �.�"� .7!Y3t tG tn6 L .,� .,
`CJ ��.'�Q, S C; * - _ , � JP_� fG OC ?gS�. rL. �� � �� �. .r >' GIr(' 1 r=
�P_:Cr tir.J'" CUOIy, O'17 t;,�6 'd 4F. _ M G'r tri e G` q.7�4 __, O'7ny
„!" in- e` ;o r ,.. r F _.r t. _:,e _ F _ _'1 . d .F., :,F ?i, ^7 `ee
tr F
Source: Sketch and Legal prepared by Southeastern Surveying.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KA LS1 PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 11
Parcel 702 Temporary Construction Easement
i .`5, C" D =u 4 ,,n:J o tr,,. e "r'csn; -3t�n _ rCe iwrn c :ce =_
I C
re;, 7 cr° i.c t o- y ri' er a t" •x
i
a,
+-- r, .j' t �' • IE; i, •t(:; tr =e r
c ; t r _Est r of wny 'ire o` „`-own on sn'd )!nt to c nt
Re_, �� C?tJO,c �Cr';.,. Pq .�. 'SG, �..r' ?ecc 0 _ e.nGc
�OLni'. ��iGv :(; „� . n 4F 2'� O disCQ -c£ ":. J °_et :.; .Dnc ! � rt .ne 5� � Jr)rs CO tn@
inence -ue "J ' t,_nce c. c;o -.0 sj,d Il_ to f. -e tc, o
fli ^� C �, < n rlo t.�,, .-k n` <•. 1. `f.'!3 ", tY' inf., .� ..v ,. `+4 / ! o7,
:, 9P?22 gee' [:; Z.c„tP , : ; rw W of
♦r... s :j .tib• ,. O d.� C J` ...,.v. „ �} o,of sc i1'e L(: c po
'N , i .. / ,�
,.�_. .� .- 95 f =r.:r, .. r„ :i'�S_y'C. S "1 r.t >i.1�it.E'. c'a x "E:e`; rri•c;`-
�, a Jn.tw c : "A : �erc.' 'r; t'
Source Sketch and Legal prepared by Southeastern Surveying.
HISTORY OF PROPERTY (LAST FIVE YEARS)
The property is under the ownership of Jasbir S. Kalsi, who acquired the property in
July of 1992 via a Quit Claim Deed from Allen & Jeri Hayhurst. The transaction was
recorded in the Orange County Official Records Book 4460 Page 252.
There have been no transactions recorded for the property in the last five years.
PROPERTY INSPECTION
Names of Those Present at Inspection
Mr. Daniel R. DeRango (DeRango, Best & Associates) inspected the property on July
11, 2013. Mr. DeRango has viewed the site on a few occasions since that time, most
recently on October 21, 2013. No owner was present during the inspection.
Extent of Inspection
Daniel R. DeRango, MAI, made a complete inspection of the land, including the area of
the takings.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PROPERTY DESCRIPTION BEFORE THE TAKING
SITE DESCRIPTION
Location
PAGE 12
The property is located along the east side of Bluford Avenue south of 7th Street in
Ocoee, Orange County, Florida. The street address is 474 South Bluford Avenue,
Ocoee, Florida 34761.
SITE DESCRIPTION (PARENT TRACT)
Land Area
0.99± Acres or 43,114± SF
Shape
The parent tract is rectangular in shape with approximately 180± feet of frontage along
the east side of Bluford Avenue.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 13
Boundary Dimensions
North: 238± South: 238±
West: 180± East: 178±
Ingress /Egress
The property has ingress and egress along the east side of Bluford Avenue.
Topography & Drainage
The site is generally level and appears to drain well.
Subject .� °,r✓�,.�.»
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 14
Flood Hazard Data
According to the Flood Insurance Rate Maps, Community Panel No. 12095CO210 F,
dated September 25, 2009, the property is located within a Zone "X ", an area of
minimal flooding.
Soil Characteristics
There appears to be no adverse soil conditions on the property.
Easement/Encroachments
Based on our review of the Title report prepared by Fidelity Title & Guarantee Company
there do not appear to be any adverse easements or encumbrances affecting the
property.
Environmental Hazards
After review of the title search and a physical inspection of the property, we are not
aware of any environmental hazards that may exist. However, the detection of any
environmental hazards is beyond our area of expertise.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 15
Utilities
Potable water is available to the property and is serviced by the City of Ocoee. Public
sewer is not available and the site relies on a private septic system.
ASSESSMENTS AND TAXES
The property is assessed for property taxes by Orange County. Taxes for the year 2012
are as follows:
2012 Property Taxes
Parcel ID
17- 22 -28- 6144 -04 -361
Land Value
$43,017
Building Value
N/A
Features Value
N/A
Total Assessed Value
$43,017
Millage Rate
19.4648
Ad Valorem Taxes
$837.32
Other Assessments
$120.00
Gross Tax Amounts
$957.32
Proposed 2013 $43,017
Assessed Value
All taxes have been paid and there are no delinquencies reported for the property.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 16
ZONING, LAND USE PLANNING, CONCURRENCY
Zoning
The parent tract is zoned R -1AA, Single Family Dwelling, by the City of Ocoee.
According to the Orange County Code of Ordinances:
CS)
R-1-AA and R -1 -AAA Single - Family Dwelling Districts.
The areas included within R -1 -AA and R-1 -AAA- Single - family Dwelling Districts are intended
to be single- family residential areas with larger lots and lower population densities_ Certain
structures and uses required to serve educational, religious, utilities and noncommercial
recreational needs of such areas are permitted This district is primarily intended for areas
shown on the Future Land Use Map as "Low Density Residential
Future Land Use Designation
The Future Land Use designation is Low Density Residential. The zoning and future
land use designations are consistent.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 17
HIGHEST AND BEST USE
In estimating the highest and best use of the property, we have considered those uses
that are legally permissible, physically possible, economically supported, and which
would result in the highest return to the land. We have considered the features of the
land such as zoning, size, shape, location, access to roadways, and the availability of
utilities. We have also reviewed surrounding land patterns and the demand for property
in the current real estate market. In appraisal practice, the Highest and Best Use
Analysis is the foundation upon which the valuation of a property is based.
Legal Considerations
The property is zoned R -1AA, Single Family Dwelling, by the City of Ocoee. The future
land use designation of the site is Low Density Residential. The legally permitted uses
of the site are for single family residential use.
Physical Considerations
The site contains 43,114 square feet (0.99± acres) and is rectangular in shape with a
shape /configuration suitable for development. The topography of the site is adequate.
The site has public water service and would require a private septic system. The site
has good frontage and exposure on Bluford Avenue. Therefore, the site is physically
suitable for development.
Economic Considerations
In analyzing those uses which would be economically feasible and maximally
productive, we have taken into consideration the locational characteristics of the
property and current trends in the market. The site is located within a residential area in
the City of Ocoee. The economy is currently weak but has been showing signs of
modest improvement over the past year.
CONCLUSIONS
Based on our analysis, the highest and best use of the site is for single family
residential development consistent with zoning and surrounding land uses.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 18
VALUATION METHODOLOGY
As discussed in the next section of our report, the proposed acquisition will not have a
residual impact on the land or the improvements on the property and we have therefore
prepared a simple analysis of the acquisition. In our opinion the preparation of a "before
and after" analysis is not required for this assignment.
LAND VALUATION
The first step in our valuation is to estimate the value of the underlying land before the
taking. The land value is used to establish a value of the parts of the parcel within the
proposed taking. The land has been valued by the Sales Comparison (Market)
Approach.
Based on our highest and best use of the site as vacant for residential development we
have researched and evaluated sales of similar future single family sites in the area for
comparison to the appraised tract. Since the neighborhood is older and established, we
have expanded our search to include similar areas of Greater Orlando. The sales in our
analysis are discussed as follows:
13 -184 Parcels 102 & 702
"p
s
;
i
� ur
y
0
a
brs++ Sl E
'a
.ss
�oaMe Subject
b
ate.
a
sn
Sales 1 & 2
Prr
;
V9Q"8 1=
/��' S`I E
UalmedV •»•i Wtao kd
51
(,Ff*•!
S ly E .�"rtu'r' Rif )mY tcd
4"
�
it.
ryry
{kit •T
to
4
fukame ''9f
Sale 3
u.ti
,ea
,..
me t az"
-
53f
O440 Pe
J1v 1 - -
4 rJbrA(X Ad
a,
0 Raw Pd
�"
� r
Sale 4
44
tar's
to
r
*Aver t,*# P-1
*t*% F
6
r
3[
ortxndo
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 19
COMPARABLE LAND SALES
Subject
1
2
3
4
Location
Along the east side of
Bluford Avenue south
of 7th Street
At the northwest
corner of Rewis
Street and Lyman
Avenue
At the northeast
corner of Rewis
Street and Lyman
Avenue
Along the west side
of Main Street south
of Maple Street
Along the east side of
Edgewood Ranch
Road south of Old
Winter Garden Road
City, County
Ocoee, Orange
County
Ocoee, Orange
County
Ocoee, Orange
County
Winter Garden,
Orange County
Orlando, Orange
Buyer
Juan Maldonado
Regino Garcia
Akers Custom
Homes, Inc.
Robert A. Zarate
Seller
Enrique Zepeda
Jorge Delatorre
Michael Lemos
Allen G. Liang
Sale Date
Mar -13
Jun -13
Sep -12
Feb -13
Sale Price
$23,000
$22,000
$31,500
$52,000
Terror of Sale
Cash to Seller
Cash to Seller
Cash to Seller
Cash to Seller
O.R. Book/Page
10550/910
10592/214
10450/2334
10526/6189
Size (AC)
0.99
0.46
0.25
0.22
0.50
Size (SF)
43,114
19,993
10,910
9,799
21,783
Configuration
Rectangular
Slightly Irregular
Slightly Irregular
Rectangular
Rectangular
Frontage
Bluford Avenue
Rewis & Lyman
Rewis & Lyman
Main Street
Edgewood Ranch
Road
Utilities
Water / Septic
All Available
All Available
All Available
Water / Septic
Zoning
R -1AA, Ocoee
R -1, Ocoee
R -1, Ocoee
R -2, Winter Garden
A -1, Orange County
Future Land Use
(FLU) designation
Low Density
Residential
Low Density
Residential
Low Density
Residential
Low Residential
Low Density
Residential
Topography
Generally level
Generally level
Generally level
Generally level
Generally level
Access
Good
Good
Good
Good
Good
Exposure
Good
Good
Good
Good
Good
Price /SF
$1.15
$2.02
$3.21
$2.39
COMPARISON
Marketing
Conditions
Sep -13
Similar
Similar
Similar
Similar
Terms of Sale
Market
Similar
Similar
Similar
Similar
Location
Bluford Avenue
Somewhat Inferior
Somewhat Inferior
Somewhat Superior
Somewhat Inferior
Access
Good
Similar
Similar
Similar
Similar
Exposure
Good
Similar
Similar
Similar
Similar
Utilities
Water / Septic
Somewhat Superior
Somewhat Superior
Somewhat Superior
Similar
Size (AC)
0.99
Smaller ( -)
Smaller ( -)
Smaller ( -)
Smaller ( -)
Configuration
Rectangular
Similar
Similar
Similar
Similar
Topography
Generally level
Similar
Similar
Similar
Similar
Overall Comparison
Subject
Inferior
Inferior
Superior
Somewhat Inferior
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 20
Comparable Land Sale No. 1 is located at the northwest corner of Rewis Street and
Lyman Avenue. This is the sale of 0.46 acres of land to Juan Maldonado for $23,000.
The sale took place in March of 2013. The sale equates to $1.15/SF of land area.
The indication from this sale is considered to be below expectations for the appraised
property. This site is smaller in size and is in a slightly inferior location.
Comparable Land Sale No. 2 is located at the northeast corner of Rewis Street and
Lyman Avenue. This is the sale of 0.25 acres of land to Regino Garcia for $22,000. The
sale took place in June of 2013. The sale equates to $2.02 /SF of land area.
The indication from this sale is considered to be below expectations for the appraised
property. This site is smaller in size and is in a slightly inferior location.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 21
Comparable Land Sale No. 3 is located along the west side of Main Street south of
Maple Street. This is the sale of 0.22 acres of land to Akers Custom Homes, Inc. for
$31,500. The sale took place in September of 2012. The sale equates to $3.21/SF of
land area.
The indication from this sale is considered to be above expectations for the appraised
property, due mainly to its smaller size and superior location.
Comparable Land Sale No. 4 is located along the east side of Edgewood Ranch Road
south of Old Winter Garden Road. This is the sale of 0.50 acres of land to Robert A.
Zarate for $52,000. The sale took place in February of 2013. The sale equates to
$2.39/SF of land area.
The indication from this sale is considered to be below expectations for the appraised
property, due mainly to its inferior zoning and somewhat inferior location.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 22
ANALYSIS & CONCLUSIONS
The comparable land sales cited indicate a value range from $22,000 to $52,000 or
from $1.15/SF to $3.21/SF with an average of $2.19/SF.
• The property is located along Bluford Avenue near the center of the City of
Ocoee.
• The property is in a long established neighborhood and there are few available
vacant lots.
VALUE CONCLUSION: FEE SIMPLE
After evaluating all of the described sales data and based on our review of market
trends we would expect that the value of the fee simple interest in the land would fall
near the upper part of the range shown by the comparables.
Based on our analysis our value is expressed as follows:
Land Value Before the Takina
Land
Size (SF)
Price
Per SF
Value Indication
(Rounded)
43,114
$3.00
$129,342
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 23
PROJECT DESCRIPTION
The Bluford Avenue project includes a widening the roadway to permit stormwater and
utility improvements along the roadway.
4.38 � 438
a
K
LU c �'1CdJ('E' Subject
J
PROJECT
;A
�V4� a
?' E 0datWid Ave
a:
Ocoee
ct metefy
1
PROJECT ALIGNMENT
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 24
DESCRIPTION OF THE ACQUISITION
PARCEL 102
Property sketches and construction drawings are as follows:
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KA LSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 25
13 -184 Parcels 102 & 702
a
3
� x
x
e
I
i
A
r
r
PAGE 25
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 26
r '
V o l k*
i
®i
13 -184 Parcels 102 & 702
JIM
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KA LSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 27
13 -184 Parcels 102 & 702
f
9
}
�SF7
Via-
f
i �
1 {
i
t
. 4
S
LEI
...
.
13 -184 Parcels 102 & 702
f
9
}
Via-
f
i �
1 {
...
.
s
n
'1 All
_
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 28
LAND WITHIN ACQUISITION
Parcel 102 consists of a 2,207± SF strip for a right -of -way for Bluford Avenue road
project. The taking is a slightly irregular piece at the west end of the property.
Improvements within Acquisition
Improvements in the taking include two mature trees, a Live Oak and a Laurel Oak.
There are also two Golden Rain Trees (Koelreuteria paniculata) in the taking.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 29
VALUATION OF PART TAKEN
The Parcel 102 right -of way strip will be acquired in fee simple.
The land value of the parent tract has been estimated at $3.00 /SF. Thus, the estimated
value of the part taken for land is as follows:
Land
Parcel
No.
Interest
Appraised
Land Area
(SF)
Estimated
Value
102
Fee Simple
2,207
$6,621
TOTAL
$6,621
Improvements
The values of improvements in the taking have been estimated using guidelines
provided by the Marshall Valuation Service, and a review of costs from local sources
including landscapers. The improvements within the taking have been depreciated to
reflect their age and condition at the date of taking.
Improvements in Parcel 102
Item
Cost New
%
Depreciated
$
Depreciation
Depreciated
Cost
Quercus Laurifolia - Laurel Oak 41"
$5,370
0.00%
$0
$5,370
Quercus Virginiana - Live Oak 28"
$2,500
0.00%
$0
$2,500
Koelreuteria Panniculata - Golden Rain Tree 15"
$890
0.00%
$0
$890
Koelreuteria Panniculata - Golden Rain Tree 6"
$140
0.00%
$0
$140
Total
$8,900
N/A
0
$8,900
SUMMARY OF VALUE OF PART TAKEN
Parcel 102
Total Land Value:
$6,621
Improvements Value
$8,900
Total Value:
$15,521
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 30
VALUE OF REMAINDER LAND AS PART OF WHOLE
Value of Whole Property: $129,342
Value of Acquisition (Land Only): $6,621
Value of remainder as Part of Whole: 1$122,721
APPRAISAL OF REMAINDER
APPRAISAL PROBLEM
The appraisal problem is to estimate the market value of the remainder and to
substantiate damages, or special benefits due to the acquisition, if any.
DESCRIPTION OF REMAINDER
The remainder site is generally similar to the property before the taking in physical
attributes. The small area of taking is at the undeveloped west end of the site and the
configuration of the site after the acquisition is still suitable for development to a density
similar to that which could have been achieved prior to the taking.
Highest and Best Use "As Vacant'
The remainder's slightly reduced size does not reduce the market appeal of the
property for residential development. The highest and best use after the taking is the
same as before the taking.
Highest and Best Use, "As Improved"
iE
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 31
VALUATION OF REMAINDER
LAND VALUE
We have reviewed the comparable sales information provided earlier in determining the
land value for the property after the fee simple taking. Given that the reduced size of
the property will not affect the build -out potential or utility of the site, we have not
reduced our value estimate on a per square foot basis. Therefore, the value of the
remainder is as follows:
Land Value After the Taking
Land
Size (SF)
Price
Per SF
Value Indication
(Rounded)
40,907
$3.00
$122,721
We estimate that the remainder value and the value of the remainder as part of the
whole are the same and therefore there are no severance damages or cures required
accruing to the remainder property as a result of the taking.
Value of Remainder as Part of Whole:
$122,721
Remainder Value
$122,721
Damages to Remainder:
$0
COST TO CURE
MAI
SPECIAL BENEFITS
N/A
LAND VALUATION OF THE TCE PARCEL 702
The value of the Temporary Construction Easement (Parcel 702) over a finite period of
time is a possessory interest that can be likened to a land lease. We have therefore
estimated a rental rate for the area within the TCE to determine a value for the three
years that the land will be encumbered.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 32
LAND WITHIN ACQUISITION
Parcel 702 consists of a 1,875± SF strip for a temporary construction easement for the
Bluford Avenue road project. The taking is a slightly irregular piece near the west end of
the property.
i
Improvements within Acquisition
There are no improvements within the Parcel 702 taking. Any trees within this area are
expected to remain undisturbed.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 33
ANNUAL ECONOMIC RENT
We have researched the Central Florida area for recent land leases of properties
considered similar to the parent tract with regard to location, size, and legally permitted
uses. Our research has not produced any leases of land considered comparable to the
parent tract. In our experience, land leases are typically long -term commitments that
are priced as a percentage or yield rate based on the underlying fee simple value of the
land to be encumbered.
We have used a similar method to determine the economic rent of the easement
parcel. We have included our estimate of the value of the fee simple interest in the
land. The underlying land value for the parent tract was estimated at $3.00 per square
foot. Based on the temporary construction easement size, the fee simple value would
be as follows:
1,875± SF @ $3.00 /SF = $5,625
Considering land lease data within the Central Florida area and alternative returns in
the market for various investments, a 10% rate of return has been estimated.
Therefore, the annual rent for the temporary construction easement is estimated as
follows:
$5,625 X 10% = $562.50/Year ($46.875 per month)
DISCOUNT RATE
The three years of rental payments have been discounted to a present value at the date
of value. In order to ascertain the discount rate, we have utilized the interest rate on a
U.S. Government Security Notes of similar terms. We have selected a base rate of
1.4% for our 3 -year easement term. To this "safe rate," we have added a premium to
reflect the lack of liquidity and ownership carrying costs arriving at a discount rate of
2 %. The applicable present value factor for a 2% discount rate for 3 years, payable in
advance as follows:
PRESENT VALUE OF MARKET RENT
Estimated Monthly Rent:
Present Value Factor:
$ 46.875
Y 'AA Q71
Total Value of Land Within Temporary Easement (R): $ 1,639
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 34
COMMENTS
There are no improvements within the TCE and there are no impacts from the TCE on
the remainder property. As previously noted, it is our understanding that trees within the
TCE will remain undisturbed.
SUMMARY OF VALUES
Value of Taking
102
702
Total
Use
ROW
TCE
Land Value
$6,621
$1,639
$8,260
Improvements
$8,900
$0
$8,900
Damages to Remainder
$0
$0
$0
Cost to Cure Net
$0
$0
$0
Total Value of Acquisition
$15,521
1 $1,639
$17,160
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 35
ADDENDUM
Neighborhood Overview
Comparable Land Sales Details
Qualifications of Appraiser
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALS|PROPERTY
F»ROJECT'x�|TYOF��COEE'K�LUFOROAA/ENUE�nROJECT
' ,
NEIGHBORHOOD OVERVIEW
Subject
" _ ^
lee
GENERAL DISCUSSION
A neighborhood is defined as @ grouping Of complimentary |@Od uses. The
neighborhood iS bounded by the follow
• Northern Boundary - Story Road
• Southern Boundary - Florida's Turnpike
• VVeShernBOuOd@ry - Winter Garden-Vineland Road
• Eastern Boundary - Clarke Road
The neighborhood is defined as the City Of [)coa8. Florida. C}C0ee is located just
SOUUleaSt Of the [jtv of Winter Garden. BOUl Ocoee and Winter Garden have Seen
much grow in oornnnerCi2| properties over the last few years. Many new residential
subdivisions have been constructed in this area over the |8at five to ten years.
TherefOFe, this immediate area is considered to be in @ growth stage hOxvever, growth
is currently stalled due t0 the weak economy.
1x-184 Parcels 102uno
=���-
" _ ^
lee
GENERAL DISCUSSION
A neighborhood is defined as @ grouping Of complimentary |@Od uses. The
neighborhood iS bounded by the follow
• Northern Boundary - Story Road
• Southern Boundary - Florida's Turnpike
• VVeShernBOuOd@ry - Winter Garden-Vineland Road
• Eastern Boundary - Clarke Road
The neighborhood is defined as the City Of [)coa8. Florida. C}C0ee is located just
SOUUleaSt Of the [jtv of Winter Garden. BOUl Ocoee and Winter Garden have Seen
much grow in oornnnerCi2| properties over the last few years. Many new residential
subdivisions have been constructed in this area over the |8at five to ten years.
TherefOFe, this immediate area is considered to be in @ growth stage hOxvever, growth
is currently stalled due t0 the weak economy.
1x-184 Parcels 102uno
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 37
Access
State Road 50 (Colonial Drive) is a four -lane, east -west highway that runs across the
entire state of Florida, connecting the Gulf Coast on the west to the Atlantic Ocean on
the east.
Located south of State Road 50 is Florida's Turnpike (Ronald Reagan Highway). This
stretch of roadway runs north and south throughout Florida from Ocala down to Miami.
This road intersects Interstate 4 in the Orlando /Disney World area. Just south of the
appraised property, the Florida Turnpike also connects with the East -West Expressway,
which runs straight into the heart of Downtown Orlando.
The Western Beltway (State Road 429) is located west of the property. This toll road is
part of the larger beltway system that, when completed, will encircle the greater Orlando
area. The Western Beltway has exchanges with the Florida Turnpike and several
smaller roadways, and currently terminates at State Road 441 in Apopka.
Commercial Development
West Orange County is provided with
hospital care via the Health Central
Hospital, located just east and north of
Old Winter Garden Road on the south
side of West Colonial Drive (SR 50),
about a mile east of the appraised
property. This hospital contains 153
beds, 449 staff doctors, and 550 total
employees. Other features of the
hospital include women's, pediatrics and
obstetrics centers.
Also to the east is a Wal -Mart Supercenter and several small strip centers. This
commercial development is located between the appraised property and the Health
Central Hospital.
Newer commercial development in the area includes the West Oaks Mall and the
Winter Garden Village at Fowler Groves. The West Oaks Mall was constructed in 1996
and is located east of the property on State Road 50 in Ocoee. It is anchored by
Dillard's, Sears, Belk, JC Penney, and AMC Theatres, and contains 130 stores.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 38
Winter Garden Village at Fowler Groves is an open -air shopping plaza divided into
three sections: The Exchange, The Crossings, and The Grove. The center contains
nearly 1.2 million square feet of retail space, and over 80 restaurants and shops. The
center opened for business in late 2007. It is located along the east and west sides of
Daniels Road just north of State Road 429 (the Western Beltway), approximately three
miles southwest of the appraised property.
The West Orange Trail is a recreational trail that runs approximately 22 miles from the
Lake County line through Oakland, Winter Garden, and Apopka, and was built primarily
on old railroad spurs. Several bridges crossing over major highways have been built or
repurposed for the trail.
The appraised property is in the West Orange Commercial Center, a self- contained
industrial /commercial business park with approximately 18 lots. Most of these lots have
been developed over the last few years, with predominate uses for medical - related
businesses. This type of land development within West Orange Commercial Center is
fueled by the Health Central Hospital.
Beside the West Orange Commercial Center Development, the Ocoee Commerce Center
is also a major medical park located in proximity to the hospital. This development contains
14 lots, several of which have been developed.
The Central Business District of Orlando is located approximately ten miles east and the
Orlando International Airport is located approximately 16 miles southeast of the property.
To the west of the property is the proposed City Place at Maguire project which contains
frontage along Maguire Road. The City Place at Maguire is planned to provide a mix of
upscale retail, luxury residential, Class A offices, a business class hotel and an array of
restaurants.
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 39
Highlights of the project include a planned expansive open -air retail space, a 2 -acre
courtyard that will accommodate community events, and 16 -story condominium complexes.
Project Details:
• 90,000 SF of general retail shopping
• Two 6,000 SF spaces for Roof -Top dining locations
• 65,000 SF for a 5 -story hotel, including 131 rooms
• 49,000 SF of Class A office space
• 3,500 SF bank site
• 2,500 SF Pad for retail site
• Sixteen story luxury condominium, including 100 individual units and a 5 -story
parking garage with 400 spaces
• 2 acre courtyard with limited kiosks locations, designed for community events,
including art and music shows
• 594 parking spaces in a 7 -story parking garage
• Surface parking to include 117 spaces
The City of Ocoee has been working on a Community Redevelopment Area (CRA) plan for
the area around this project. Depending on what the City approves for the plan, the City
Place project may change. The project has essentially been on hold given the weak
economy. The City has yet to finalize CRA plans for the area.
REAL ESTATE MARKET
The market was weak for several years after the collapse of the housing market;
however, conditions have stabilized and in some areas seen modest improvement.
13 -184 Parcels 102 & 702
CONCEPT PLAN FOR CITY PLACE AT MAGUIRE
APPRAISAL DF PARCEL Nos. 102&7O2
THE KALS|PROPERTY
PROJECT: CITY OFOCOEE;BLUFDRD AVENUE PROJECT PAGE40
The f0UOVVOg COOt8iOS graphics and 8 diSCUSSi0O of the VV8St CO|0Di@| retail market in
pGrUCU|3[
WEST COLONIIAL MARKET
The black line in the graphic above Sh0VVS the v8C8OCV [@t8 for retail Sp@C8 in the West
C0|OOi@| area. \/8C8OCy currently St@OdS at 11. 1%.
The following chart shows the drop in residential sales volume and pricing in the area.
13-184 Parcels 102 & 702
Home Sales in Zip Code 34761
SSG
SMOOD
530
VW,001)
22
$120.000
1 008
2009 201CI 2011 20 12 2013
13-184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALG|PROPERTY
PROJECT: CITY OFOCOEE', BLUFORD AVENUE PROJECT PAGE 41
According t0 @ [8CgOt report published by the UOkne[Sit« of Central Florida (UCF)
Institute for Economic Competitiveness (dated July 2013), itiSexpected that payroll job
growth ye8FOveFye8[iSexpected to average 2.0Y6 in 2013. 2.1% in 2014. and 2.596 in
2O15.|t will be the second quarter of2O18 before payrolls recover tO their pre-recession
levels. Housing St@[tS are expected to have average @ODU@| growth Of 31.4% during the
2013-2016 period.
The fOUOvvOg chart from the report ShovvS the historic and projected G[OSS State
CONCLUSION
The long term prognosis for the neighborhood is stable to positive. As previously noted,
the ne@| estate market is beginning to ShOvv Signs Of modest improvement. This trend is
expected t0continue.
13-184 Parcels 102a702
Floncla Real Gross State Product
IN MA
CONCLUSION
The long term prognosis for the neighborhood is stable to positive. As previously noted,
the ne@| estate market is beginning to ShOvv Signs Of modest improvement. This trend is
expected t0continue.
13-184 Parcels 102a702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 42
LAND SALE DATA SHEET
13 -184 Parcels 102 & 702
1
Location
At the northwest corner of Rewis Street and
Lyman Avenue
City, County
Ocoee, Orange n
Buyer
Juan Maldonado
Seller
Enrique Zepeda
Sale Date
Mar -13
Sale Price
$23,000
Terms of Sale
Cash to Seller
O.R. Book /Page
10550/910
Size (AC)
0.46
Size (SF)
19,993
Configuration
Slightly Irregular
Frontage
Rewis & Lyman
Utilities
All Available
Zoning
R -1, Ocoee
Future Land Use (FLU)
designation
Low Density Residential
Topography
Generally level
Access
Good
Exposure
Good
Price/SF
$1.15
Comments
VERIFICATION
Date Verified
8/12/2013
Verified By
Heather Lynn Haas
Verified With
Juan Maldonado - Buyer
Contact Information
845 - 483 -7225
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL PIGS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 43
040 a 23
LEE ST
M 3
8 r
3 i Q
p
LL
5 J
7 . °. \G��
4 !1V
M
13 -184 Parcels 102 & 702
3
d
t
i
M
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL BIOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 44
Rd o
a
lk Circle
I St
Bay St E
Enterprise St
'
Anderson Pi
Capitol Ct
ply SAnig
Sale
m rue,vo**
Fleweltmg Ave m
za' `)
m 10550/910
¢'
Mobile Ln
� � Apricot Or m
ro o
o Oakwood Ln m
»
?;
4s
Cemetery
6t
�.
o Q
a D
£ Center St
» g n, r m �- Cer� 1z
�r
438
a`, rfi u, U
1N: Silver Star Rd
..a
-
f.:StiverStar Rd = 438 E Silver
t
frenkhn St
m
Ds
a3a = ;flankhn Si
C
Starke Lake
m
429
,q N
Subject
L�eay,rpa
r
W
Oak St
Enterprise St
'
Orlando Ave
Capitol Ct
Geneva St E
Story Rd
Ocoee
Cemetery
�a
White Rd
o m
� U
� o
m K
R
m
O
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
This Warranty Deed
Vf*k 0-."",U, ul htaw, A 1t t,I ; h. P•rfgsa 7.rpeda and h4th" Zeptds. Not," " w,re.
1 hrrr na''ur t.I W . . 'v're,u;7,*r s 1„ 5osm M*1000s44, a tr..afTrrcl rmars. Mf W lwJ of&C aeMrcts u
1 Rt�wen kuarJ
a hrrcmar5cr a-at?cd ftrt "lsvarfrt °t
'ancr.,sr +.rrd �s axi ak x•,m 1; l'. —4 1-11 - au& 01 T.r t'+• *n r. h , x,. sw'ar rwr2
,dal .rp,.+xracr.a, and nmtsa �.f dam At. _--, uj ne4*5 - --p r. ,
1ti.wrswk that 0% l nnkit tan art„ ^ ,W 111xfalaua A IN 3u.Tx M f VOW att4 Aw- ratafble
crr+ dert/rxrs. the anvil and M uh%ti is txrrbr st:♦s�.u�A�11ad '�r?r} gr crux. itar;ai;xa, -11,
xlrrn, Tern,n, i ks rrlex— e+.vs t' s aza7 cvrdL•etn wfix ttrc ("a-Arc ail of'he ( ngm We am -ekreu to
t'aa crrua yr ees r—,-rl, 9 it 0rarz�7c comr r- 1 b>x pin. *1r
lto IAM'A) 4 fret of 1.x I and tre Last a) { fete aI I14 " stlxi7}' +x7t 1f ik rvc.i tart,,na
Naa! of R1 FIT \ KI "fd I S WFIDIVISi 4\ ercxsdtt+a Ise fiat Plat r'hercv; as r'etm,*J m
Plat 1 . A. at Pape I I F r >! @1e NISI c Rcc, J, a' OfIlUpr ( ou,, -I, f bsr"t,
NMI) PR+:01lkil IS %tie [tit WNT4fl - Art (# M c,RANIOR SAID J-901*1.9I1 IN Hit%(,
i- oN'kLYLll AT THER1tp1 1.S1 I'W THT 6RANTfIR AND flit GRAA11_L IAT11I NlY MILE SL R
f \.,bt1 NA r ION (* INM R 1 k Ni r N A IS,, IV i N R Fred I S I1 1) OR PRi >Yl tit r>
Io"llocr — aii !Ic :rttetrrnt7 K- 4eamrrr: 4,f arrr+vrwanrC thrrrtr t^r. ,x 10 4%.1'r
ap}+ertas !10v.
To Hsvt sod f Hald, the sfmc in irr h.Mp. torr "r
Asd ;Lc t,ratln:+r be, ml, c *,ccrunre r.rsh the eerae,rrr OW I* oarfrrt I >a**f11t1I xlrxd al sa:+,l rc..
M m irr ti n,plc -hat the ("Amt, Ka, grail right axed !"fat votticrrlt) t4 nr31 " i;mw,rr w4 real
pajutr), the: Or (, Wart, NV, s*attrnta the 1 0, to $4 .1 Mal rf"pr" aad w` "rkir+arf 11um wtnc j,)1w
the hlafw aetnc> •,! a111taa.�> wha�ntYrx.ct ,m.1 that xa� =raI rttryrrrrs is fret al rM?ri;hronCe4. car.rrr tal.r1
1KUUiftE aut*xcy,uat w Dmrmt" i1 Mil t aat zuhiere m eJ* rnz, comvf. r, . rel2rxf nNra 'N k- st—
Irsastata�.x scr9 3vvf,1rr»t1 car rrt, M 11 art
IS %darn ti'brf4.r. CK »~e l.c+a IrI . .,r-xw! afsj t "-j f#xx pe strf,' !t+. 9a;+ s=wat ,vW fir
at,+:...r arrkn
Maas h., & -t „fcin a., ° >t �n ,iva fi�aan.a
��en 44whNa ta., ,_
%IAiL 1)4 1i 1MIDA
t 1�i '\IY Of OR A \a4
a aprds _
k ants 1pr
I h.rcg'srly imittatrerA sxs xkooc.kdarl I'dorr r, f 1a : ' da} ui Sdar<4 dUtZ h, hsrigar
lrprat* a0 Meiva Lrprds K. fa.r 1 ,4wr i 1 hx,da 13n.en 11.enwrr a« r <5rxriff +r, ;do<r,-
Em t Rrobsitk
tam odes" d 111®1 55
rapttel tum 15,2015
Nw r r x W-4
PAGE 45
13 -184 Parcels 102 & 702
Ro urd atai Rrtruv 11
own Sol" 1" / "to
3htgsrrd 9;,
1.nt t. Itrie►ordi, Est'..
W I u .1 let's 1st 1
MMN7l1as M
a" Poo 110
�Q�O & 1 1 1 M
51@ 52w b Dillard strtsi.'1Wir 1;9
W bier t Itt 5+1'71'
intar+llll♦ 1�
ardre.
Platlyy� itaass
14ri M�ayrtrs tom
{ O troller
i'srrrl In %f I
Lil 1Nt lo' t Mtop"aAI
This Warranty Deed
Vf*k 0-."",U, ul htaw, A 1t t,I ; h. P•rfgsa 7.rpeda and h4th" Zeptds. Not," " w,re.
1 hrrr na''ur t.I W . . 'v're,u;7,*r s 1„ 5osm M*1000s44, a tr..afTrrcl rmars. Mf W lwJ of&C aeMrcts u
1 Rt�wen kuarJ
a hrrcmar5cr a-at?cd ftrt "lsvarfrt °t
'ancr.,sr +.rrd �s axi ak x•,m 1; l'. —4 1-11 - au& 01 T.r t'+• *n r. h , x,. sw'ar rwr2
,dal .rp,.+xracr.a, and nmtsa �.f dam At. _--, uj ne4*5 - --p r. ,
1ti.wrswk that 0% l nnkit tan art„ ^ ,W 111xfalaua A IN 3u.Tx M f VOW att4 Aw- ratafble
crr+ dert/rxrs. the anvil and M uh%ti is txrrbr st:♦s�.u�A�11ad '�r?r} gr crux. itar;ai;xa, -11,
xlrrn, Tern,n, i ks rrlex— e+.vs t' s aza7 cvrdL•etn wfix ttrc ("a-Arc ail of'he ( ngm We am -ekreu to
t'aa crrua yr ees r—,-rl, 9 it 0rarz�7c comr r- 1 b>x pin. *1r
lto IAM'A) 4 fret of 1.x I and tre Last a) { fete aI I14 " stlxi7}' +x7t 1f ik rvc.i tart,,na
Naa! of R1 FIT \ KI "fd I S WFIDIVISi 4\ ercxsdtt+a Ise fiat Plat r'hercv; as r'etm,*J m
Plat 1 . A. at Pape I I F r >! @1e NISI c Rcc, J, a' OfIlUpr ( ou,, -I, f bsr"t,
NMI) PR+:01lkil IS %tie [tit WNT4fl - Art (# M c,RANIOR SAID J-901*1.9I1 IN Hit%(,
i- oN'kLYLll AT THER1tp1 1.S1 I'W THT 6RANTfIR AND flit GRAA11_L IAT11I NlY MILE SL R
f \.,bt1 NA r ION (* INM R 1 k Ni r N A IS,, IV i N R Fred I S I1 1) OR PRi >Yl tit r>
Io"llocr — aii !Ic :rttetrrnt7 K- 4eamrrr: 4,f arrr+vrwanrC thrrrtr t^r. ,x 10 4%.1'r
ap}+ertas !10v.
To Hsvt sod f Hald, the sfmc in irr h.Mp. torr "r
Asd ;Lc t,ratln:+r be, ml, c *,ccrunre r.rsh the eerae,rrr OW I* oarfrrt I >a**f11t1I xlrxd al sa:+,l rc..
M m irr ti n,plc -hat the ("Amt, Ka, grail right axed !"fat votticrrlt) t4 nr31 " i;mw,rr w4 real
pajutr), the: Or (, Wart, NV, s*attrnta the 1 0, to $4 .1 Mal rf"pr" aad w` "rkir+arf 11um wtnc j,)1w
the hlafw aetnc> •,! a111taa.�> wha�ntYrx.ct ,m.1 that xa� =raI rttryrrrrs is fret al rM?ri;hronCe4. car.rrr tal.r1
1KUUiftE aut*xcy,uat w Dmrmt" i1 Mil t aat zuhiere m eJ* rnz, comvf. r, . rel2rxf nNra 'N k- st—
Irsastata�.x scr9 3vvf,1rr»t1 car rrt, M 11 art
IS %darn ti'brf4.r. CK »~e l.c+a IrI . .,r-xw! afsj t "-j f#xx pe strf,' !t+. 9a;+ s=wat ,vW fir
at,+:...r arrkn
Maas h., & -t „fcin a., ° >t �n ,iva fi�aan.a
��en 44whNa ta., ,_
%IAiL 1)4 1i 1MIDA
t 1�i '\IY Of OR A \a4
a aprds _
k ants 1pr
I h.rcg'srly imittatrerA sxs xkooc.kdarl I'dorr r, f 1a : ' da} ui Sdar<4 dUtZ h, hsrigar
lrprat* a0 Meiva Lrprds K. fa.r 1 ,4wr i 1 hx,da 13n.en 11.enwrr a« r <5rxriff +r, ;do<r,-
Em t Rrobsitk
tam odes" d 111®1 55
rapttel tum 15,2015
Nw r r x W-4
PAGE 45
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 46
LAND SALE DATA SHEET
13 -184 Parcels 102 & 702
2
Location
At the northeast corner of Rewis Street and
Lyman Avenue
City, County
Ocoee, Orange Coun
Buyer
Regino Garcia
Seller
Jorge Delatorre
Sale Date
Jun -13
Sale Price
$22,000
Terms of Sale
Cash to Seller
O.R. Book /Page
10592/214
Size (AC)
0.25
Size (SF)
10,910
Configuration
Slightly Irregular
Frontage
Rewis & Lyman
Utilities
All Available
Zoning
R -1, Ocoee
Future Land Use (FLU)
designation
Low Density Residential
Topography
Generally level
Access
Good
Exposure
Good
Price /SF
$2.02
Comments
VERIFICATION
Date Verified
8/8/2013
Verified By
Heather Lynn Haas
Verified With
Public Records
Contact Information
N/A
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 47
6 1 23 100 iG
sorts ---- _ j 913
roo LEE ST
�" jo
X12 ` t
7 6 "}
T �
5
17
is
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 48
Anderson Pt spa SpnngLike
v 6 Sale z �e
ss Rd s. m Fleomiling Ave M.
2 i 10592/214 ¢' Apricot Dr
Mobile Ln 3 rn Oakwood Ln
Circle K+ > Center St n, w m m Canfe
4, 4 m rn�
v
1N Silver Staff $d z— E v°dwBr StarRd -.: 4m _ESihr
a)
St F 4311- flankUd St ! Fran %tin St o Ogee C We W Or
0
Starke Lake
a:
aden W R r',,.. .cS� Gragsd
429 ,Q N � P:,.,d
j. En Subject LakeO"pia
Oak St
Sap St E t P q3y
23 r+24
Enterprise St Orlando Ave n White Rd
Capitol Gt U
if
J D � m
f t Stacy Rd Geneva St f ° g
Ocoee
1 1 Cemetery m
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
P4 11) - I A -'L -9 '91Xi4f50�
AURA N 17Y Of TO
011inTIVIT)l A]'#
PAGE 49
OOC 111 20130335M 8: 18392 P: 0214
SO X
0 1" C�XW,)' ; L
ke? I n 'S ul., , 1, t �,,
7�hl'a 'A AkR-NN )star l'? Jvfgt Miawrte. a inarTkd Man, M�,i�x rww mfz ',r 4
4,� Stu
Terror, WiNti"' (1 I't 3 harem4ficl c;41cd t) 6KAN I OR, %-� Rrxix. Garcia, a marri"I man, 07!
vises is 2?2411"?tifagoraa t
1rdC0011t,FI W61
xM dal! %jude at= rwlie 'n $s,
Jw OLANIOW !w v n C0r4;dmbwi i! V,- s�T i sAoo fiml (vk, v3 Cm"w:cw1--n
whervorislwnb a ikj.w ltd o M j p,, it *_ j,, rc �
m re rlsc±, Lonvv., ai'd Lwirrws wito Tt^r UKA!" I I E,
41: el rea ai lan" w,xaKr iv Olziipf f ol,v, F rye "i
A,',C X, - It .xk I , Stelia: i,.hd,, i, r:, Ae iK- ;1 Y,, - j , p;.,j 15,,1, fade F'u hdir
0'r,"gr CL"I'm I k vd. 1", N4,11t , fret w AI * a!— L't,
"SUBJECT PROPERTY IS VACANT LAND—
WbJECT £(? L-c,alt, sue, tAxr-s and ,vsJ Ax Ora ore: 7,
and wtus Arid to W iiprh,Ibic 4n Pr za Arwi ix fcwicwni wd vriyvh1wm
ar'.y
I 06 I Ilt-k a; at: t1w 1r rmc"!T ano 37 t` i--- "'f i sc ;"tcf� 1 M I'"—
TO l i WF ANO 10 Hot ,) the ,t, i t,
AND T14F 6RAN W;( tjt;rrt-s wit a3A 6RAN I I-F d x rant , aht,,c P !Ird, 01- c,RA% TOR is lav fa s uttvd vf sv -
1 4MI 01 fec 09MVIC. L!W tK: GRAN MR right 1,a yC;I Oj ojn%eN !tml 1',r ( I t * fatvh,
fully warwa� the tv' , to iavl w. mi 1 'irfind 'IW A;13c ai3". Ow lw dwm� nfall mwna "Wwl
IN 'A I P0 WMI ORAN Ii IR hdi vgwd dnc yza
IN TKL„Fkl fill t o I o%kus(,
N Gerdou
SIAN GIFFLOMDA
C01 N TY I0 OR A%(,;
ti
Iw I—ir-A - witt sud o
prW *,kyx-Wjrj t-,fvTc rv ,� !fn 1 �1 aa, ot J N11 I k, ) ITrl ivcxc Afuq
-W f!
J,per
SUSAN I
NOTARY PAM
ilMk IEST^IV oF r-LORD'
EEM3001
13-184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 50
LAND SALE DATA SHEET
13 -184 Parcels 102 & 702
3
Location
Along the west side of Main Street south of
Maple Street
City, County
Winter Garden, Orange Coun
Buyer
Akers Custom Homes, Inc.
Seller
Michael Lemos
Sale Date
Sep -12
Sale Price
$31,500
Terms of Sale
Cash to Seller
O.R. Book /Page
10450/2334
Size (AC)
0.22
Size (SF)
9 799
Configuration
Rectangular
Frontage
Main Street
Utilities
All Available
zoning
R -2, Winter Garden
Future Land Use (FLU)
designation
Low Residential
Topography
Generally level
Access
Good
Exposure
Good
Price/SF
$ 3.21
Comments
VERIFICATION
Date Verified
8/12/2013
Verified By
Heather Lynn Haas
Verified With
Sherrie Stenger, Realtor
Contact Information
sclark7 cfl.rr.com
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 51
154
"1211111 go *21111
yu E III I f7 I? q T
13-184 Parcels 102 & 702
E MAPLE ST
W MAPLE,ST
15225
wS 77 70
70
1
2
2
1
151
15..$
3
14
*47
3R
152
120
M 25
- 162,Z
7
6
153
154
"1211111 go *21111
yu E III I f7 I? q T
13-184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 52
pi
iu
MCA X-*
17tA A�*
Z, t &fai
st
4-
MAJD* Fit
13-184 Parcels 102 & 702
c.
f"I" " =Subje
410
Sale
z.
10450/2334
ro
Mirer It
W M 171
rd
F-A
W, S1
MCA X-*
17tA A�*
Z, t &fai
st
4-
MAJD* Fit
13-184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 1 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
--o
w
a
k—., hri* Icaswu,
§vw. .4 itrlk% it.
44-11 to m14l, VIANI IM) a
"111 t it I.AHDl: 4, i kcal. U-V
rae mutea Nq—t
J.v— i —
' 11 rMAN IIICk Ntlill /�t.t UAfY Af t, lt(
ale M).or PI.ANI+llt4).1 sit
N tl rlt 4.iMG1 A. f 4trtb 34!1'"
v utm..e+: m » tart u,,,r - nee ,war tuxes a.,w :s t,� it
Pj, tftdal)Ngrih t1a1
2 - - -14
6t4UwkVIif S #(If
i itc NLaaegi26218
WARRANT% DfTD
PAGE 53
=MUM l'.pT9 ! l"M ►
Ih- FC tfi
goal O.s o > Di uM y1!
WM na.'. FN So N
17.fts.t. Stw p feilu
9.iff.tt.9 Mar%rtt +. :a°.9t
,,; , VuurMM/ Ting
11tuvw4ftowmil
Thi. Warr.aty Utxd M1l t1c the :715 dat .(S pt tiplwr, 2012_ f t MICIIAf I_ I F.M0S, A MAKROD
PURSON Js)P ill ASK4), A MARRIED P Kti4)N, , a ip.arrYM1 lwrwo flrrvatafter a lt.4f d:, ttat:i,,r,
vrpera lea u#1wr w.idte:� n a L' h',r I.ie'tt x t M tct f kF , F ' v7 - Fri
. ^.yti rr -jr e: 1 1_,af.it. r)ur.is f:'47�7jq_
ai AKE,R.S CUSTOM 110,% ' INC. a +tr v tw ..&I Wir— r, 11,6 rERRA MAN4.4) i.INi1'.
SITTY 200. QRI .ANIM). hoed. 321135, betenumr ejikJ Ow grtmev
>t`iit+ 41Ill (lie tatd Fzania. I- aa1 in !t t!e bent t. S f °,dt 6ti l k,11m, a,tJ wd,, 'A wk,
cc� ktatiura, mtyti trkitti t it hivmt mi.%At.kdgc4, ircr;r c fy im, two in :. acct sihnt.. !--i
c,ae 1('666 m, hire t.1u txaattc. 40 tfatt ertum 6.3 14.4Ac m 01 Up ( -W11. I lnrnkt, ry
14 it VAIN AN11 -,IA 9 li{1.f'I A 1, At COR IN6i t) M- A1(1;t4 ;AP111191.iti .O'91l1 *1 It it UN Pt At
110% t-' PAIA "e t nul mutit lit vohv,(Kc;HiV-4 cs,b3 "NJ1.11,010ri.4
t1a ter..r+cex.. ,l e1K hr.<:..- .f, -w3 ut fdn- t a.a.t
MAMMA - 11..11 .ir c •rcw #. � - .mr5awr.Yti> ur 1 r ��i,n,na - tKr; r.; t.i � u s .ga;,za�,��
1. 11— w11. tight tAe rxar m itt —;,k kc vt
A.d ft" rWA> l brIc t la) Ab -" f7—➢ tut t1,' pwl�. i» 4:l —' A,w+: w u kc ,x,144, dw 'b, Ci]ait:.t
bas J e—d *rata and lea l+a luiiwx,n W :+:11 . W - a,c, wr 1-4, naa to fts,da, 1 s a • ;uih —1— it. u1k 1 tatd trnf I.:
<.ili drlrnd Um :�,.. .t,�caa #r lurt i ,:unm• ni a3i r ,.i,,.� -z ,vs, W4 Q-.
i.tru-..aarzumr sa.raawut s>i 12')! 21111 rrs,•r,aw.u.. ,c+cxczw:r.: ar' •^.l»'4$rNS . t c.w a. �1 wr
V Lt iSDHf Yr1wwG l.ri.b! {sat R vS ,HtnL< 1-1 r+f —i the Age — — ro 4 an*a : aeftir.k
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
20120 Page 202
A,,CJ, v:.Acd az93 �ka:wed ma wi p+,.�,eaKr ?T '�
M14'IIA .'° � '""('i
i'aastxwf Naux iaatcru l,au r f EL ilmo+
W �srvkas ;iK�tatt�rc '
primed Name — it GLASKO
S1AlLOf FLORIDA
COUNTY Of Qraazt
f1w aa-►:iw- rikjrj hefxxx ,Tx #fxix _ "ti: djo S<pjj #as ''(W, M MK IIAf;1
LfIMON. A MARRIVI) Y).kS N JOE BLA.SKO, A MARRIED PLR_SON uivn W W
,w who hA%% pfud rural drov ti"-sua(s) as kkwfli atwn
" My Comms"4x, I Apf'. f 1 f
cn'
` Nrxia t NLf >,t� �
n/
J .
Z
r
G - .,
f#j%f14 1RALEY
ucm!e*ri�• t EE 2)SSBt
l.r xe,a rwrwxaea+. -f
PAGE 54
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 55
LAND SALE DATA SHEET
13 -184 Parcels 102 & 702
4
Location
Along the east side of Edgewood Ranch
Road south of Old Winter Garden Road
City, County
Orlando, Orange
Buyer
Robert A. Zarate
Seller
Allen G. Liang
Sale Date
Feb -13
Sale Price
$52,000
Terms of Sale
Cash to Seller
O.R. Book /Page
10526/6189
Size (AC)
0.50
Size (SF)
21,783
Configuration
Rectangular
Frontage
Edgewood Ranch Road
Utilities
Water / Septic
Zoning
A -1, Orange County
Future Land Use (FLU)
designation
Low Density Residential
Topography
Generally level
Access
Good
Exposure
Good
Price /SF
$2.39
Comments
VERIFICATION
Date Verified
8/12/2013
Verified By
Heather Lynn Haas
Verified With
Sidney Tse, Realtor
Contact Information
tse2909@aol.com
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL PIGS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 56
U= 2 Vk7
Lu
o _
q
TRACT C
;3 134
p
_.. w
Boa
so a
*',
''� ' • «� w �
81
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 57
S A "w
Pe 434
13-184 Parcels 102 & 702
Subject
W-*.ft I>
7
4,
a
t
um
two
4w
raw
Sale
ri
10526/6189
X
T
P4
61h St
to V
zoo
13-184 Parcels 102 & 702
APPRAISAL OF PARCEL NOS. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 58
Doc* zn30141"n s: %pan P: asst
THIS INSTRUMENT PREPARED BY SVZZr2913 12,55:19 PA Pa t or a
RETURN TO AFTER RECORDED: N os aI C.a :�fTM,99
ad tm Fos: Wee
IM1.91►ia Taa: 1: so
BWR IM. JOHNSON, P.A. Mortc�0 St omp 0 is. C"006ltar
orany. Coun F-
BLAIR M. JOHNSON, ESQUIRE SA - "t T.: itattt A JOHPGM Attomav
Post Office Box 770496 F Rq m rM 1l
Winter Garden, Florida 34777-0498
(407) 658.3521
Florida Bar No. 294171
Property Appraisers Parcel I.D. S: 35.22.28 -0000 -00 -036
WARRANTY DEED
THIS WARRANTY DEED made the 18th day of February, 2013 by ALLEN G.
LIANG and YVONNE K, LIANG, husband and wife, hereinafter called the Grantors, to
ROBERT A. ZARATE, a single person, whose address is 7334 Catamaran Drive.
Orlando, Florida 32835, hereinafter called the Grantee:
WITNESSETH:
That the Grantors, for and in consideration of the sum of $10.00 and other
valuable considerations, receipt whereof is hereby acknowledged, hereby grants,
bargains, sells, aliens, remises, releases, conveys and confirms unto the Grantee all
that certain land situated in Orange County, State of Florida, viz.
SEE ATTACHED EXHIBIT "A' INCORPORATED HEREIN
AND MADE A PART HEREOF,
Together, with all the tenements, hereditaments and appurtenances thereto
belonging or in anywise appertaining
To Have And To Hold, the same in fee simple forever.
And, the Grantors hereby covenant with said Grantee that the Grantors are
lawfully seized of said land in fee simple, that the Grantors have good right and lawful
authority to sell and convey said land, and hereby warrants the title to said land and will
defend the same against the lawful claims of all person whomsoever: and that said land
is free of all encumbrances, except takes accruing subsequent to December 31, 2012
13 -184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
20130105896 Page 2 of 3
and easements and restrictions of record, however, reference hereto shall not serve to
reimpose same
IN WITNESS WHEREOF, the said Grantors have signed and sealed these
presents the day and year first above written,
Signed, sealed and delivered in the
presence of
W9
F
Mffiii mum
W
EMMS I
STATE OF FLORIDA
COUNTY OF ORANGE
7 �
The foregoing instrument was acknowledged before me this 1M day of
F*brua!y. MI; by ALLEN G. LIANG and YVONNE K. LIANG who have produced their
Florida Drivers Licenses as identification
1
Ng&r Name: Qlair M. - Johnson
My commission *xplres:
Warranty Deed
-2-
PAGE 59
13-184 Parcels 102 & 702
APPRAISAL OF PARCEL Nos. 102 & 702
THE KALSI PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 60
20130105896 Page 303
C N'(--hw%tc*rnu Of d`fNQr01Ca9 114 Cfth4 west 114 o 35, Te', 2:
P-ngc 29 FAs. C artge County, fl q e p ,
, South Do degree 2547 £ast SiOng the WC41 direr Of Laid,
V4 of the SO,,K: 114 a distance of 5H 25 feet, 1 1wet le-M& said Wc3t line, run Nomh 89 ft-titA 2.675' mss; a
dtst,ca of 32,97 feet to a port on q,
e E ast np
M OfwAY 1 n of Edgewood RAr--h Road. said pont bving O p�j-
ercc continue North 99 deVtcs 2675' Eau a distance 117 00 fact; ftme run Nort+ 00 ecptc 25
bcgtnr,in& L
West a distance of 15 00 lee, L`-encc rm North 89 dcgmcs 26'25' E44 a dtswcie of I *,'JqC, feet, thence run S
,
C'tg:e43 4 Las, a distance of 1 9S feet, tl`iZ= FUM South 89 dr-pta 2624 'West a distance of 134,00 cwt a 6
F1 0 ' the atommid F,& right Of w IMM Of FA"ood Rana Road, henet -. I
said FAst righ t c' w A t .4 00 duce 1. 547' W•� 4 1,m-
d o f I fA)
gg feet to t poiw. ( gi
in Be 'In ng
27 ,1 11
13-184 Parcels 102 & 702
QUALIFICATIONS
Daniel R. DeRango, MAI, CCIM
DERANGO. BEST & ASSOCIATES
1 601 E. AMELIA STREET
ORLANDO, FLORIDA 32803
(407) 895 -6650
RESIDENT OF: Maitland, Florida
EDUCATION: Graduate of Stetson University, Deland, Florida
Bachelor of Business Administration - Major: Finance
PROFESSIONAL
EDUCATION: COURSES & SEMINARS - APPRAISAL INSTITUTE
• Appraisal Principles
• Basic Valuation Procedures
• Direct Capitalization, Annuity Capitalization, and Mortgage
Theory and Techniques
• Case Studies in Real Estate Valuation
• Valuation Analysis and Report Writing
• Condemnation and Litigation Appraisal Practice
• Standards of Professional Practice
• Residential Valuation Procedures
• Appraisal of Small Hotels and Motels
• Sales Confirmation Methods
• Discounted Cash Flow Analysis
• Electronic Spreadsheets in Real Estate Appraising
• Urban Planning and Development - University of Central Florida
CCIM INSTITUTE
• Financial Analysis for Commercial Investment Real Estate (Cl 101)
• Market Analysis for Commercial Investment Real Estate (Cl 102)
• User Decision Analysis for Commercial Investment Real Estate (Cl 103)
• Investment Analysis for Commercial Investment Real Estate (CI 104)
Equity Capitalization
PROFESSIONAL
AFFILIATIONS: Member of the Appraisal Institute, MAI No. 7557
Member CCIM Institute
Florida State - Certified General Real Estate Appraiser No. RZ1054
Registered Real Estate Broker /State of Florida, License No. 0355191
Director — Appraisal Institute, East Central Florida Chapter
Member of the Association of Eminent Domain Professionals
Member of the American Association of Airport Executives
QUALIFICATIONS
Daniel R. DeRango, MAI, CCIM (Continued)
PROFESSIONAL
EXPERIENCE: Qualified as an expert witness in Federal and State Courts.
Special Master, Value Adjustment Board, Orange County, 1995, 1996, 2000 -2002
Present: President - DeRango, Best and Associates, Orlando, Florida
1984 -1997 V.P. /Partner, Matonis MacDermott DeRango Sorich & Co., Orlando, FL
1981 -1984 Staff Appraiser with Irwin Appraisal Consulting Services, Inc., Orlando, FL
Former Member: Board of Directors - East Central Florida Chapter- Appraisal Institute
PUBLISHED: "The Determination of Hotel Value Components for Ad Valorem Tax Assessment'
The Appraisal Journal July, 1993
TYPE OF
ASSIGNMENTS: I have appraised or provided counseling for a variety of commercial and residential
properties throughout the U.S. (primarily in the Central Florida area).
EXPERIENCE WITH:
• Aviation /Aeronautical Properties
• Apartments
• Office buildings
• Retail properties
• Condemnation and litigation assignments
• Industrial properties
• Timeshare resorts
• Hotels & resorts
• Mobile home parks
• Subdivisions
• Mitigation lands
• Warehouse facilities
• Acreage tracts
• Golf courses /country clubs
• Special use facilities
• Mixed use development
• Coastal & island tracts
• Aviation properties
• Air cargo facilities
• Large and small aircraft hangars
• Fixed based operations
• Condominium projects
• Retail centers
(including regional malls)
Appraisal and consulting assignments have been prepared for a variety of lending
institutions, corporations, law firms, governmental agencies, and individuals.
PROPERTY LOCATIONS
IN FLORIDA:
• Central Florida (Orange, Seminole, Osceola, Lake, Polk and Volusia Counties)
• South Florida (Dade, Broward & Palm Beach Counties)
• South Central Florida (Brevard, Martin, St. Lucie & Indian River Counties)
• Southwest Florida (Collier, Lee, Manatee, Sarasota, Pinellas, Hillsborough Counties)
• Northeast Florida (Flagler, St. Johns and Duval Counties)
• North Central Florida (Marion County, Putnam)
• Florida Keys
QUALIFICATIONS
Daniel R. DeRango, MAI, CCIM (Continued)
ASSIGNMENTS
OUTSIDE OF
FLORIDA:
• Georgia
• Texas
• Maryland
• Indiana
• Minnesota
• Ohio
• New York
• New Jersey
• Pennsylvania
• Illinois
• California
• Alabama
• Connecticut
• Tennessee
• Colorado
• Kentucky
• South Carolina
• Virginia
• Pennsylvania
• Washington State
IMS .. A CO P APER
AC # 7 7 5 5 STATE OF FLORIDA
DEPARTMENT OF BUSYNESS AND PROFESSIONAL REGULATION
FLORIDA REAL ESTATE APPRAISAL BD SEQ#L121115d1970
DATE BATCH NUM gjR LICENSE NBR
I1�15J2412 728197329 #RZ1054
The CERTIFIED GENERAL APPRAISER
Named below IS CERTIFIED
Under the provisions of Chapter 475 FS,
Expiration date: NOV 34, 2014 .
DERANGO, DANIEL ROBERT
1641 E AMELIA ST
ORLANDO FL 32943
RICK SCOTT KEN LAWSON
GOVERNOR DISPLAY AS REQUIRED BY LA* SECRETARY