HomeMy WebLinkAboutItem #04 Approval of Bluford Avenue Drainage Project Purchase Agreement - Braland Propertylwkwe %*f*00
Ocoee
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AGENDA ITEM COVER SHEET
Meeting Date: October 7, 2014
Item # 4
Reviewed By:
Contact Name: Stephen C. Krug Department Director: ,
Contact Number: 6002 City Manager:
Subject: Bluford Avenue Drainage Project Purchase Agreement — Braland
Commissioner Johnson, District 3.
roperty.
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. and Mrs. Darryl Braland own property along the affected roadway. After protracted negotiations, the
Bralands have agreed to convey the parcel to the City for the total sum of $5,250.00, inclusive of any
claim for attorney's fees and costs.
Public Works recommends the Commission approve the attached Purchase Agreement in order to
complete the property acquisition phase of the project. This is the last 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 Braland parcel required
to construct the Bluford Avenue Stormwater project from Columbus Street to 7 th Street.
Recommendations:
Recommend approval of the Purchase Agreement for the Braland parcels, nos. 105 & 705, at the
negotiated value of $5,250.00, 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, September 15, 2014, Bluford Ave. Improvement Project.
Purchase Agreement — Braland property, Parcels 105 & 705.
Appraisal — Braland property, Parcels 105 & 705.
Financial Impact:
The property acquisition is adequately funded in the Stormwater Division budget for the project.
Type of Item:
X
(please mark with an "x')
Public Hearing
Ordinance First Reading
Ordinance Second Reading
Resolution
Commission Approval
Discussion & Direction
For Clerk's Dept Use:
Consent Agenda
Public Hearing
Regular Agenda
Original Document/Contract Attached for Execution by City Clerk
X Original Document/Contract Held by Department for Execution
Reviewed by City Attorney N/A
Reviewed by Finance Dept. �� J N/A
Reviewed by ( ) N/A
TY
LIK
Mary Doty Solik, Esq. 407 - 367 -7868
121 S. Orange Ave., STE 1500 msolik @dotysoliklaw.com
Orlando, FL 32801
MEMORANDUM
TO: The Honorable Mayor & Commissioners of the City of Ocoee
FROM: Mary D. Solik, Esq.
Special Counsel
DATE: September 15, 2014
RE: Bluford Avenue 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 2013.
The last of the 5 property owners, Mr. and Mrs. Darryl Braland, have now signed a Purchase
Agreement. The property is their personal residence. The City's appraisal for the property to be
acquired is as follows:
Parcels 105, 705 $1,179.00
After protracted negotiations conducted through Ed Williams, Mr. and Mrs. Braland have
agreed to convey the parcels to the City for the total sum of $5,250.00, inclusive of any claim for
attorney's fees and costs.
RECOMMENDATION
It is respectfully recommended 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 purchases.
cc: Steve Krug, Public Works Director
Scott Cookson, City Attorney
PURCHASE AGREEMENT
This Purchase Agreement (the "Agreement ") is made and entered into this
day of 2014 by and between Darryl Braland and Tara L. Braland, whose
address is 550 S. Bluford Ave., Ocoee, FL 34761 (hereinafter referred to as the
"Sellers "), and the CITY OF OCOEE, a Florida municipal corporation, whose address
is 150 North Lakeshore Drive, Ocoee, Florida 32761 (hereinafter referred to as the
"City").
WITNESSETH:
WHEREAS, the Sellers are the owners of fee simple title to certain real property
located in Orange County, Florida, as more particularly described in Exhibit "A" (the
"Property"), and attached hereto and by this reference made a part hereof; and
WHEREAS, the City is a Florida municipal corporation which is authorized to
exercise condemnation powers pursuant to Chapter 166, Florida Statutes; and
WHEREAS, the City is constructing the Bluford Avenue Stormwater and Utility
Improvement Project (the "Project ") and in connection therewith needs to acquire from
the Seller title to the Property for stormwater, utility, and roadway purposes; and
WHEREAS, the City have advised Sellers that if the City and the Sellers do not
enter into an agreement for the purchase and sale of the Property that the City intends to
use its power of eminent domain to condemn its required interest in the Property; and
WHEREAS, Sellers, under threat of condemnation, have agreed to sell the
Property to the City, and the City has agreed to purchase the Property, together with any
and all improvements, structures, fixtures and appurtenances thereto on the terms and
conditions stated below.
NOW, THEREFORE, in consideration of the promises and other good and
valuable considerations exchanged between the parties hereto, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree as follows:
1. Recitals The above recitals are true and correct and are incorporated
herein by reference.
2. The Purchase The ProveEU. Sellers, under threat of condemnation,
agree to sell and the City agrees to purchase, for the purchase price and on the terms and
conditions herein set forth, the Property, together with all tenements, hereditaments,
improvements, structures, fixtures, trees, shrubbery, roads and easements, appertaining
thereto and all of the Sellers' right, title, and interest therein. The Sellers shall convey to
the City marketable, fee simple title to the Property by special warranty deed free and
clear of all liens, mortgages and encumbrances, except for restrictions, reservations and
easements of record, if any. The instrument of conveyance shall transfer all of Sellers'
interest in and to all improvements, fixtures, easements, trees, shrubbery, rights -of -way,
tenements and appurtenances belonging or appertaining to the Property, including
without limitation of the foregoing, all right, title and interest of Sellers in and to any land
lying in the bed of any street, alley, road or avenue (before or after vacation thereof, and
whether previously abandoned or vacated or hereafter abandoned or vacated
3. Purchase Price The Purchase Price for the Property shall be FIVE
THOUSAND TWO HUNDRED FIFTY AND N01100 DOLLARS ($5,250.00) (the
"Purchase Price "). The parties hereto acknowledge and agree that the Purchase Price:
(a) constitutes full compensation to the Sellers for the value of the Property and the
resultant damage, if any, to the remainder of the lands adjacent thereto owned by the
2
Sellers; (b) includes full compensation to the Seller for all trees, shrubbery and other
improvements on the Property, all of which may be removed by the City in connection
with the Project; and (c) includes compensation and reimbursement to the Sellers for all
costs and expenses incurred or to be incurred incident to this Agreement and the closing
hereof, including but not limited to attorneys' fees and appraisal fees.
4. Closin Costs- Tax Proration. The City shall pay all closing costs
associated with this Agreement, including all recording fees and documentary stamp
taxes relating to or resulting from the transfer of title to the City of the Property. Real
property taxes in connection with the conveyance of the Property shall be prorated as of
the day of the acceptance of the conveyance by the City and the prorated amount shall be
paid by the Seller and shall be escrowed in accordance with the provisions of Section
196.295, Florida Statutes.
5. Maintenance of Access Throughout the Project, the City will maintain
for Sellers' benefit access to the adjacent lands owned by the Sellers as of the date hereof
(the "Parent Tract "); provided, however, that the Sellers acknowledge that there may be
temporary periods during which access to the Parent Tract may be temporarily rerouted
due to construction activities associated with the Project.
6. Closing Closing of title for the Property shall take place at the offices of
Scott Cookson, City Attorney, Shuffield, Lowman & Wilson, P.A., 1000 Legion Place,
Suite 1700, Orlando, Florida on or before October 31, 2014. The City's legal counsel
shall be responsible for the preparation of all closing documents, at the City's expense.
7. Additional Documentation In connection with the conveyance of the
Property the Sellers shall execute such closing documents as may reasonably be required
3
by the City, including but not limited to a standard form no -lien affidavit, a non - foreign
certification, and a closing statement.
8. Use of Property Prior to Closing From the date hereof through the date
of acquisition of the Property, the City through its consultants, contractors and
employees, will be and are hereby authorized to enter upon the Property for the purposes
of having scientific investigation, surveying and the taking of soil borings in connection
with the Project. Any boring holes made by the City shall be promptly filled and packed
to the surrounding earth level by the City.
9. Further Documentation The parties agree that at anytime following a
request therefor by the other party, each shall execute and deliver to the other party such
further documents and instruments, in form and substance reasonably necessary to
confirm and/or effectuate the obligations of either party hereunder and the consummation
of the transactions contemplated hereby. The provisions of this paragraph shall survive
the closing.
10. Specific Performance Both the City and the Sellers shall have the right
to enforce the terms and conditions of this Agreement by an action for specific
performance.
11. Time of Essence Time is of the essence for this Agreement and in the
performance of all conditions, covenants, requirements, obligations and warranties to be
performed or satisfied by the parties hereto.
12. Agreement; Amendment This Agreement constitutes the entire
agreement between the parties, and supersedes all previous discussions, understandings
and agreements, with respect to the subject matter hereof. Amendments to and waivers
4
of the provisions of this Agreement shall be made by the parties only in writing by formal
amendment.
13. Applicable Law This Agreement shall be construed and interpreted in
accordance with the laws of the State of Florida.
14. Disclosure of Beneficial Interest Contemporaneous with the execution
of this Agreement, Seller shall deliver to the City a public disclosure of its beneficial
ownership which shall comply with the requirements set forth in Section 286.23, Florida
Statutes. This Agreement constitutes a written notice from the City to Sellers requesting
the foregoing disclosure and informing Sellers that such disclosure must be made under
oath, subject to the penalties prescribed for perjury.
15. Successors and Assigns This Agreement shall be binding upon and inure
to the benefit of the parties hereto, their respective legal representatives, successors, heirs
and assigns.
16. Neeotiated Price to be Without Preiudice The purchase price specified
herein was negotiated by the parties on the basis of a total price for the Property and shall
be without prejudice to any party, and inadmissable in any condemnation proceedings
which might hereinafter be brought if this transaction is not closed for any reason
whatsoever.
17. Time for Acceptance The Sellers are irrevocably executing this
Agreement prior to approval by the City; provided, however, that in the event the City
does not approve and execute this Agreement on or before September 25, 2014, then the
Sellers' execution hereof shall be automatically terminated and the City shall
immediately return to the Sellers the executed originals hereof.
5
18. Effective Date The Effective Date of this Agreement shall be the date
that it is executed by the City and such date shall be inserted on the front page of this
Agreement.
IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement, to become effective as of the date and year first above written.
Signed, sealed and delivered
in the presence of:
Signed, sealed and delivered
in the presence of:
CITY
CITY OF OCOEE, a Florida municipal
corporation
By:
S. Scott Vandergrift
Mayor
Attest:
Beth Eikenberry
City Clerk
[AFFIX SEAL]
Executed on: ' 2014
0
For use and reliance only by the City of
Ocoee, Florida. Approved as to form and
legality this day of
2014.
By:
Name:
City Attorney
APPROVED BY THE OCOEE CITY
COMMISSION AT A MEETING
HELD ON
2014 UNDER AGENDA ITEM NO.
7
SCHEDULE "A"
PARCEL 105
PURPOSE : RIGHT OF WAY EXHIBIT A
Page 1 of 4
Description
A portion of Lot 1, Columbus Addition per Plat thereof recorded in Plot Book 15. Pages 27, Public
Records of Orange County, Florida being more particulory described as follows:
Begin at the Northwest corner of Lot 1, Columbus Addition per Plot thereof recorded in Plot Book 15,
Page 27, Public Records of Orange County, Florida: therce N 89' 16' 13" E a distance of 21.62 feet
along the North line of said Lot 1 to o point: thence S 47' 12'21" W a distance of 29.15 feet to a
point on the West line of said Lot 1. thence N 00'39'26" W a distance of 19.53 feet to the Point of
Beginning.
Containing 211 square feet more or less.
SLW*TYORS REPORT
1 Bearings shown hereon ore boned on the North line of Lot 1. Columbus Addition, Plot Book 15, Page 27, Public Records
of Orange County, Florida being N 84' 16' 13" E assumed.
7 This Sketch of Description" was performed without benefit of a Title search. A Title scorch may reveal additlonol
information affecting the Parcel as shown.
3. 1 hereby certify that the Sketch of Description' of the above described property is true and correct to the best of my
knowledge and belief as recently drawn under my direction and that it rreets the Minimum Technical Standords for Land
Surveying Ch. 5J- 17.050 -.052 requirements.
DESCREMON
FOR
01/18/2013 KR
Job No : Scale
56560 1 V= 30'
NO T VALI WITHOUT SHEET 2
CERTIf'1CATION NUMBER L8210a IMP 56560022
CITY OF OCOEE
Cnopter 5J- 17.050 -.052, Florida
Administrative Code regjires that a
Isaol description orowr ng bear the
notation that
THIS IS NOT A SURVEY.
SHEET 1 OF 2
SEE SHEET 2 FOR SKETCH
AND 90PINC CORPORA1f011
0600 AU American Boulevard
rlda =10 -43159
a'r)292- t►9(402}2Y#W*1
L
SKETCH OF DESCRIPTION
PARCEL 105 - RIGHT OF WAY
EXHIBIT A
Page 2 of 4
PONT OF BEGINNING
NW CORNER OF LOT 1. COLVUBLIS AMDON PER PLAT
BOOK 15. PAGE 27. PUBLIC RECORDS OF ORANGE
COUNTY. FLORIDA i
PARCEL 105 EAST ORLANDO AVENUE
N 89'16'1 3" E 60.00' RIGHT OF WAY PER PLAT BOOK 'A. PAGES 100
N 00'39'26" W 39'26" 21-62'
19.53' NORTH LINE OF LOT I
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NOT VALID WITHOUT SHEET 1.
Growing No. 56560022
Job No. 56560
We: 01/18/2013
SHEET 2 OF 2
See Shoot 1 for D*scriPtIon
Zl�
LOT I
COLUMBUS ADDITION
PLAT BOOK 15. PACE 27
PARCEL IDENTIFICATION NUMBER
19-22-28-1562-00-010
DARRYL & TARA L. BRALAND
OFFICIAL RECORDS BOOK 3938, PAGE 2721
LOT 2
THIS IS NOT A SURVEY
1" = 30'
GRAPHIC SCALE
Is r-
0 15 30 60
LOT 14
SOUTKrASTERN SLIMBYING
AND MAPPING CORPORATION
6500 All American Boulevard
Orlando, Irlorids, 32810-43150
(407)292 -8660 taA407)292-0141
Cartirscation Number LB-2106
email• WodleauthesstorasurveyLv%eam
SCHEDULE "A"
PARCEL 705
PURPOSE : TEMPORARY CONSTRUCTION EASEMENT EXHIBIT A
Page 3 of 4
D escription :
A portion of Lot 1, Columbus Addition per Plot thereof recorded in Plot Book 15, Pages 27, Public
Records of Orange County, Florida being more porticuloriy described as follows:
Commence of the Northwest
corner of Lot 1, Columbus Addition per Plot thereof recorded in Plot Book
15, Page 27, Public Records
of Orange
County, Florida;
thence N 89' E o distance of 21.62
feet along the North line of
said Lot 1
to the Point of
Beginning; thence continue N 89'16'13" E a
distance of 14.93 feet along
said North
line to a point;
thence S 4712'21" W a distance of 49.28
feet to a point on the West
line of said
Lot 1; thence
N 00'39'26" W a distance of 13.49 feet to a
point; thence N 4712'21" E
a distance
of 29.15 feet to the Point of Beginning.
Containing 392 square feet more or less.
St1RVEY004 NEPOR1
1. Bearings shown hereon are based on the North line of Lot 1, Columbus Addition, Plat Book 15, Page 27, Public Records
of Orange County, Florida being N 89' 16' 13" E assumed.
2. This "Sketch of Description' wos performed without benefit of a Title search. A Title search may reveal additional
information affecting the Parcel as shown.
3. 1 hereby certify that the "Sketch of Description" of the above described property is true and correct to the best of my
knowledge and belief as recently drawn under my direction and that it meets the Minimum Technical Stondords for Land
Surveying CH. 5J- 17.050 -.052 requirements.
DEKREMON
FOR
CITY OF OCOEE
01/18/2013 KR
Job No Scale
56580 1 1" =30
Chapter 5J- 17.050 -.052, Florida
Administrative Code requires that a
legal description drawing bear the
notation that
THIS IS NOT A SURVEY.
NOT VALID WITHOUT SHEET 2
i�as��� ■aata�►
SHEET 1 OF 2
SEE SHEET 2 FOR SKETCH
SKETCH OF DESCRIPTION
L 705 - TEMPORARY CONSTRUCTION EASE:ME
EXHIBIT A
Page 4 of 4
N a9'16'T3 E
21.62'
N 0939'26" W
13.49'
i
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{� NORTH LINE OF LOT I
(j
C7 LOT 1
COLUMBUS ADDITION
PLAT BOOK 15, PAGE 27
PARCEL IDENTIFICATION NUMBER
19- 22 -28- 1562 -00 -010
DARRYL & TARA L. BRALANO
OFFICIAL RECORDS BOOK 3938. PAGE 2721
LOT 2
NOTE :
NOT VALID WITHOUT SHEET 1.
THIS IS NOT A SURVEY
Growing No. 56S60023 1" = 30
Job No. 56550 GRAPHIC SCALE
Date: 01/18/2013
SHEET 2 OF 2 p � 5 30 60
Sea Sheet 1 for Description
POINT OF COMMENCEMENT
NW CORNER OF LOT 1. COLUMBUS
ADOITION PER PLAT BOOK 15. PAGE
COON ,, L1 F c LOR R I D�oRas OF ORANGE EAST ORLANDO AVENUE
60.00' RIGHT OF WAY PER PLAT BOOK "A ", PAGES 100 -101
POINT OF BEGINNING
N 8916'13** 13" E
I 1 14.93'
LOT 14
SOUTHEASTERN SURVEYINC
AND YAPPING CORPORATION
6500 All American Boulevard
Orlando, norida 32810 -4360
(407)2122 -6580 faz(407)202 -0141
CerUficatlou Number LB -21041
emall- info6awtheastarMurverin&com
APPRAISAL OF:
PARCEL Nos. 105 & 705
THE BRALAND 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 105 & 705
DERANGO, BEST & ASSOCIATES
PROFESSIONAL REAL ESTATE APPRAISERS, ADVISORS & CONSULTANTS
160 1 FAST 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 Braland property, Parcel Nos. 105 and 705, 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
105
705
Total
Use
ROW
TC E
Land Value
$633
$343
$976
Improvements
$203
$0
$203
Damages to Remainder
$0
$0
$0
Cost to Cure Net
$0
$0
$0
Total Value of Acquisition
1 $836
$343
$1,179
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 105 & 705
(407) 895 -6650 • FAX (407) 898 -8467 • MAIL @DERANGOBEST.cOM
TABLE OF CONTENTS
CERTIFICATE OF VALUE PARCEL 105 ....................................................................... ..............................1
CERTIFICATE OF VALUE PARCEL 705 ....................................................................... ..............................3
CONDITIONS AND CONTINGENCIES .......................................................................... ..............................5
SPECIALASSUMPTIONS .............................................................................................. ..............................5
EXECUTIVE SUMMARY ................................................................................................ ..............................6
PROPERTYPHOTOGRAPHS ....................................................................................... ..............................8
INTRODUCTION ............................................................................................................ .............................10
PURPOSE AND INTENDED USE OF APPRAISAL ...................................................... .............................10
SCOPE OF APPRAISAL AND VALUATION METHODOLOGY .................................... .............................10
REPORTTYPE ............................................................................................................ ...............................
11
PROPERTY INTEREST APPRAISED ........................................................................... .............................11
LEGAL DESCRIPTIONS .............................................................................................. ...............................
11
HISTORY OF PROPERTY (LAST FIVE YEARS) ........................................................ ...............................
12
PROPERTYINSPECTION ........................................................................................... ...............................
12
PROPERTY DESCRIPTION BEFORE THE TAKING ................................................... .............................13
SITEDESCRIPTION .................................................................................................... ...............................
13
LOCATION ..................................................................................................................... .............................13
SITE DESCRIPTION (PARENT TRACT) ...................................................................... .............................13
TOPOGRAPHY DRAINAGE ....................................................................................... .............................14
ASSESSMENTS AND TAXES ....................................................................................... .............................16
ZONING, LAND USE PLANNING, CONCURRENCY ................................................... .............................17
DESCRIPTION OF IMPROVEMENTS .......................................................................... .............................18
HIGHESTAND BEST USE ............................................................................................ .............................19
VALUATIONMETHODOLOGY ..................................................................................... .............................20
LAND VALUATION ............................
ANALYSIS & CONCLUSIONS...........
VALUE CONCLUSION: FEE SIMPLE
20
24
24
PROJECTDESCRIPTION ............................................................................................. .............................25
DESCRIPTIONOF THE ACQUISITION ........................................................................ .............................26
PARCEL105 .................................................................................................................. .............................26
LAND WITHIN ACQUISITION ........ ...............................
IMPROVEMENTS WITHIN ACQUISITION ....................
31
31
VALUATIONOF PART TAKEN .................................................................................... .............................32
SUMMARY OF VALUE OF PART TAKEN
32
VALUE OF REMAINDER LAND AS PART OF WHOLE .............................................. .............................33
APPRAISALOF REMAINDER ...................................................................................... .............................33
APPRAISAL PROBLEM ...................
DESCRIPTION OF REMAINDER....
33
33
VALUATIONOF REMAINDER ...................................................................................... .............................34
LANDVALUE ...................................................... ...............................
COSTTO CURE ................................................. ...............................
SPECIAL BENEFITS ........................................... ...............................
LAND VALUATION OF THE TCE PARCEL 705 ...............................
LAND WITHIN ACQUISITION ............................ ...............................
IMPROVEMENTS WITHIN ACQUISITION ......... ...............................
ANNUAL ECONOMIC RENT .............................. ...............................
DISCOUNT RATE ............................................... ...............................
PRESENT VALUE OF MARKET RENT .............. ...............................
SUMMARY OF VALUE OF PART TAKEN .......... ...............................
SUMMARY OF VALUES ..................................... ...............................
..... 34
..... 34
..... 34
..... 34
..... 35
..... 35
..... 36
..... 36
..... 36
..... 37
..... 37
ADDENDUM .................................................................................................................. .............................38
NEIGHBORHOOD OVERVIEW ..................................................................................... .............................39
LAND SALE DATA SHEET ........................................................................................... .............................45
QUALIFICATIONS OF APPRAISER
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 1
CERTIFICATE OF VALUE PARCEL 105
I 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 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 2
PARCEL 105 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:
$836
Market value should be allocated as follows:
Land Area: 211± SF
Value of Taking
105
Land Value
$633
Improvements
$203
Damages to Remainder
$0
Cost to Cure Net
$0
Total Value of Acquisition
$836
10/28/2013
Daniel R. DeRango, MAI, CCIM Date
Cert Gen RZ1054
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 3
CERTIFICATE OF VALUE PARCEL 705
I 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 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 4
PARCEL 705 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:
$343
Market value should be allocated as follows:
Land Area: 392± SF
Value of Taking
705
Land Value
$343
Improvements
$0
Damages to Remainder
$0
Cost to Cure Net
$0
Total Value of Acquisition
$343
10/28/2013
Daniel R. DeRango, MAI, CCIM Date
Cert Gen RZ1054
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND 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 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 6
PROPERTY LOCATION: The larger property is located at the southeast corner of
Orlando Avenue and Bluford Avenue in Ocoee, Orange
County, Florida. The street address is 550 South Bluford
Avenue, Ocoee, Florida 34761.
PARENT TRACT OVERVIEW: The larger property consists of a single family residence
developed on 0.27± acres. The parcel is rectangular in shape
and the western boundary abuts Bluford Avenue. The single
family residence was constructed in 1988 and contains
2,302± SF.
OWNER AND ADDRESS
PARENT TRACT SIZE
(BEFORE CONDITION)
ZONING (BEFORE
CONDITION):
According to the information provided by Orange County
public records, the current property owner is:
Darryl & Tara L. Braland
550 South Bluford Avenue
Ocoee, Florida 34761 -2749
0.27± Acres, 11,604± SF
R -1AA, Single Family Dwelling, City of Ocoee
13 -184 Parcels 105 & 705
EXECUTIVE SUMMARY
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
FUTURE LAND USE
DESIGNATION
(BEFORE CONDITION)
HIGHEST AND BEST USE
(BEFORE CONDITION):
ACQUISITION OVERVIEW:
Low Density Residential
PAGE 7
As Vacant Low density residential development
As Improved: Continued use as improved.
Parcel No.
105
705
Use
Right -of -Way
Temporary
Construction
Interest Acquired
Fee Simple
Easement Interest
Size (SF)
211
392
Size (AC)
0.005
0.009
COMMENTS: The acquisition area is roughly triangular in shape. The
parcel is a triangular portion of land along the road frontage.
Some minor site improvements are within the area of the
taking. Additionally, there are trees and landscaping within
the TCE area, but it is our understanding that these
improvements will remain undisturbed.
REMAINDER PARCEL SIZE
(AFTER CONDITION): 0.26± Acres, 11,393± SF
HIGHEST AND BEST USE
(AFTER CONDITION): The Highest & Best Use of the property remains unchanged
after the acquisition.
REMAINDER CONDITION: The remainder is generally the same as before the taking.
There are no impacts to the existing structure or site outside
of the taking area.
VALUE CONCLUSIONS:
Value of Taking
105
705
Total
Use
ROW
TCE
Land Value
$633
$343
$976
Improvements
$203
$0
$203
Damages to Remainder
$0
$0
$0
Cost to Cure Net
$0
1 $0
1 $0
Total Value of Acquisition
$836
1 $343
1 $1,179
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 8
PROPERTY PHOTOGRAPHS
VIEWS OF TAKING AREA
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 9
13 -184 Parcels 105 & 705
VIEW EAST ALONG ORLANDO AVENUE
VIEW SOUTH ALONG BLUFORD AVENUE (AND AREA OF TAKING)
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 10
INTRODUCTION
Floral St,
Q E Lafayette
°
� Lart
Dr
I e
II Iawlm - -- - _ E Lakeshore_,, d
Oeaee
Subject'
Ha
Orlando — _ -.. -..
Ave —� F -
i i-
i II d = I Semadino Dr
Buttedy Creek
- -
_ _..Geneva St E
PURPOSE AND INTENDED USE OF APPRAI
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 105 and 705 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 ". Any ancillary improvements were estimated using Marshall
Valuation Service and other local sources.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 11
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 105: Fee Simple Interest.
• Parcel 705: Easement Interest.
LEGAL DESCRIPTIONS
Parent Tract
Lot 1, COLUMBUS ADDITION, according to the plat thereof, as recorded in Plat Boo
15, Page 27, Public Records of OrAgA County, Florida.
Source: Orange County Official Records Book 3938 Page 2721.
Parcel 105 Right- of -Way
e- 'umb�s per F'ie± merecf recoreea in P;c'. Hook 15, Pcges 27, Publ.'c
,(I F: :d❑ b�rnc rnorC ca', �'onv a s.'�ic;cc :� 'c Cc V"
orth:eec >' c:o r.e� - ,jm,:"s ! nc'.it';,r per I=ic t tna°e:;r re i 4." HCok ,
PcegQ 27, Orn^go County, F orioc; inenco ,% F.c9' F u d;stonce. of 2?.62 `<:c'
::. ; to woir cl ,c:ic1 Lcl 1 tr, pr S. 47 12'21" 'Vi 1 d i It incc c ` 29.? `cc` to c1
,ioi ^i „n ;ne 'a'; ,, ,[ ine c' a.c t�' lelenCe d ...,'�9 .� , .a ,'�._!e _ �;( 9.5.3 fern( i., the
r?eginr,'ng.
Source: Sketch and Legal prepared by Southeastern Surveying.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 12
Parcel 705 Temporary Construction Easement
cc - 6o". o' Lot 1 , ..c'Jmbus r.cditic- Per ('IC' inerecr recoraec in - [3OOk 7t, r'cwes 2i, Pub!.;c
, C ]f. y. 1 t),.'nG 'Tie/' r`C'fl( :U']r:�/
c' 1 :..: Nor +f..4..:;, were! of ::t 1, C;. t "rfl :: "b Aad! pt'r 1 'ii ;i znoreO! re ?rac:7 in, F;c' Hcok
Rc_.ws o:(_�.. . "e. "r fy, , i F ? 3.i t n::�, of 21.62
C. me % o c cf Lct ;o .. �t> 't „f a r�rv t:c _c.�.t.;n. n,• 3`i'1r >'1S'
c�siance o" '4.9," `ee. ,,no q ,o:'. N' 'n ! c,. , o a CJ:. 't; thence S 4 7'.2'2" N a .rs:c .... .:r 49.28
., rpo: _ on -rne P 'ire o" sold '_ot t; thence "v `_�.; 5_ =b vi c c steno_ cf I 3. :9 fee
rc n -; . ce n: 1 1 T 12'2 '_ c , , -c ^ce c` 29 tj tee± to the o' 13eg: ^n.
Source Sketch and Legal prepared by Southeastern Surveying.
HISTORY OF PROPERTY (LAST FIVE YEARS)
The property is under the ownership of Darryl & Tara L. Braland and has been so for
many years.
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. Since no structures are to be affected by the acquisition we did not
complete an interior inspection of the residence on the site.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 13
SITE DESCRIPTION
Location
The property is located at the southeast corner of Orlando Avenue and Bluford Avenue
in Ocoee, Orange County, Florida. The street address is 550 South Bluford Avenue,
Ocoee, Florida 34761.
SITE DESCRIPTION (PARENT TRACT)
Land Area
0.27± Acres or 11,604± SF
Shape
The parent tract is rectangular in shape with approximately 78± feet of frontage along
the east side of Bluford Avenue and 149± feet of frontage along the south side of
Orlando Avenue.
13 -184 Parcels 105 & 705
PROPERTY DESCRIPTION BEFORE THE TAKING
APPRAISAL OF PARCEL Nos 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 14
Boundary Dimensions
North: 149± South: 149±
West: 78± East: 78±
Ingress /Egress
The property has ingress and egress along the south side of Orlando Avenue and the
east side of Bluford Avenue. The site is improved with a single driveway along the south
side of Orlando Avenue.
Topography & Drainage
The site is generally level and appears to drain well.
13 -184 Parcels 105 & 705
A RM i
■ • ._'
�i. ` I'
Subject
M
19
.........
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 15
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.
EasemenVEnc roach ments
Based on our review of the Title report prepared by Fidelity Title & Guarantee Company
noted the following:
• The property is subject to the restrictions, covenants, conditions, easements and
other matters contained on the Plat of Columbus Addition, recorded in Plat Book
15, Page 27, of the public records of Orange County.
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 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 16
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:
9012 Prnnerty Taxes
Parcel ID
19- 22 -28- 1562 -00 -010
Land Value
$33,924
Building Value
$92,711
Features Value
$1,500
Total Assessed Value
$126,458
Millage Rate
19.4648
Ad Valorem Taxes
$1,700.20
Other Assessments
$357.00
Gross Tax Amounts
$2,057.20
Proposed 2013 $128,608
Assessed Value
All taxes have been paid and there are no delinquencies reported for the property.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 17
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:
(5) 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 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 18
DESCRIPTION OF IMPROVEMENTS
The property is improved with a 2,302± SF single family home. The home was built in
1988 of concrete block construction. The residence is in good condition for its age. The
right -of -way taking that is the subject of our appraisal is at the west end of the site in an
undeveloped area. Therefore the takings have no impact on the property
improvements. We have not inspected the interior of the building. A sketch of the
building is shown below.
14 25
FUS PC-0 24
3 25
20 O 10
14 7
14 25
3 FGR PCB
20 a OAS PC•0 1
FOP C-0
14 25
32
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 19
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 11,604 square feet (0.27± 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 a private septic system. The site has good
frontage and exposure on Bluford Avenue and Orlando 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.
The existing improvements are consistent with the highest and best use of the site.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 20
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:
3
.: LA,l l" Sf E
d
as
a Ckwfttr Flay Sa11
:r
a 4ipe St E 440e 81 f
G!1
� Sale 3
a
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n
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aft
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y
u +Jv %rc
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ern .
us
0
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.
lr t
(+nkamscy, F+4
act r
^ Ud bYMsr �1
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. ohs g A�
` W"
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aft
: Ochre
Subject
u +Jv %rc
'.'rots PJ
0
us
0
{
a
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^ Ud bYMsr �1
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OR
E
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ir.
i Ekart Ez
n
z
S4
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Nei
�r Sale 4 i
MMan )?tr�e�' F9
3
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lace ibW a
r
Stew late Rtl
OrINWO
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 21
COMPARABLE LAND SALES
Subject
1
2
3
4
Location
At the southeast
corner of Orlando
Avenue and Bluford
Avenue
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
ty ty
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
Terms 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)
0.27
0.46
0.25
0.22
0.50
Size (SF)
11,604
19,993
10,910
9,799
21,783
Configuration
Rectangular
Slightly Irregular
Slightly Irregular
Rectangular
Rectangular
Frontage
Bluford & Orlando
Rewis & Lyman
Rewis & Lyman
Main Street
Edgewood Ranch
Road
Utilities
Water / Septic
All Available
Al 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 & Orlando
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)
0.27
Larger ( +)
Similar
Similar
Larger ( +)
Configuration
Rectangular
Similar
Similar
Similar
Similar
Topography
Generally level
Similar
Similar
Similar
Similar
Overall Comparison
Subject
Inferior
Inferior
Superior
Somewhat Inferior
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 22
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 larger 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 similar in size and is in a slightly inferior location.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 23
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 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 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 24
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)
11,604
$3.00
$34,812
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 25
PROJECT DESCRIPTION
The Bluford Avenue project includes a widening the roadway to permit stormwater and
utility improvements along the roadway.
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PROJECT ALIGNMENT
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 26
DESCRIPTION OF THE ACQUISITION
PARCEL 105
13 -184 Parcels 105 & 705
Property sketches and construction drawings are as follows:
APPRAISAL OF PARCEL NOS 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 27
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13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 28
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13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 29
13 -184 Parcels 105 & 705
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13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 30
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13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 31
LAND WITHIN ACQUISITION
Parcel 105 consists of a 211± SF strip for a right -of -way for Bluford Avenue road
project. The taking is a roughly triangular piece at the northwest end of the property.
Improvements within Acquisition
Improvements in the taking include approximately 25 linear feet of wood beams and
about 200 SF of sod.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 32
VALUATION OF PART TAKEN
The Parcel 105 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
105
Fee Simple
211
$633
TOTAL
$633
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.
The improvements within the taking have been depreciated to reflect their age and
condition at the date of taking.
Imnrovements in Parcel 105
Item
Cost New
% Depreciated
$
Depreciation
Depreciated
Cost
Wood Beams
$150
25.00%
($38)
$113
Sod (200 SF)
$90
0.00%
$0
$90
Total
$240
N/A
(38)
$203
SUMMARY OF VALUE OF PART TAKEN
Parcel 105
Total Land Value:
$633
Improvements Value
$203
Total Value:
$836
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 33
VALUE OF REMAINDER LAND AS PART OF WHOLE
Value of Whole Pro e
$34,812
Value of Acquisition Land Only):
$633
Value of Remainder as Part of Whole:
$34,179
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"
The existing improvements are still consistent with the Highest & Best Use after the
taking.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
VALUATION OF REMAINDER
LAND VALUE
PAGE 34
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)
11,393
$3.00
$34,179
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:
$34,179
Remainder Value
$34,179
Damages to Remainder:
$0
COST TO CURE
SPECIAL BENEFITS
1017_1
LAND VALUATION OF THE TCE PARCEL 705
The value of the Temporary Construction
time is a possessory interest that can be
estimated a rental rate for the area withi n
years that the land will be encumbered.
Easement (Parcel 705) over a finite period of
likened to a land lease. We have therefore
the TCE to determine a value for the three
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 35
LAND WITHIN ACQUISITION
Parcel 705 consists of a 392± SF strip for a temporary construction easement for the
Bluford Avenue road project. The taking is a slightly irregular piece near the northwest
end of the property.
(r
Improvements within Acquisition
Improvements in Parcel 705 include Laurel Oak trees with a landscaped stone
surround. It is our understanding that these improvements will remain undisturbed.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 36
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:
392± SF @ $3.00 /SF = $1,176
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:
$1,176 X 10% = $117.60/Year ($9.80 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:
$ 9.80
x 34.971
Total Value of Land Within Temporary Easement (R): $ 343
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 37
Improvements
As previously noted, it is our understanding that the landscaping and tree improvements
within the TCE will not be disturbed. There are no other improvements within the TCE
and there are no impacts from the TCE on the remainder property.
SUMMARY OF VALUE OF PART TAKEN
Parcel 705
Total Land Value:
$343
Improvements Value
$0
Total Value:
$343
SUMMARY OF VALUES
Value of Taking
105
705
Total
Use
ROW
TCE
Land Value
$633
$343
$976
Improvements
$203
$0
$203
Damages to Remainder
$0
$0
$0
Cost to Cure Net
$0
$0
$0
Total Value of Acquisition
$836
$343
$1,179
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 38
ADDENDUM
Neighborhood Overview
Comparable Land Sales Details
Qualifications of Appraiser
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 39
NEIGHBORHOOD OVERVIEW
GENERAL DISCUSSION
A neighborhood is defined as a grouping of complimentary land uses. The
neighborhood is bounded by the following:
• Northern Boundary - Story Road
• Southern Boundary - Florida's Turnpike
• Western Boundary - Winter Garden - Vineland Road
• Eastern Boundary - Clarke Road
The neighborhood is defined as the City of Ocoee, Florida. Ocoee is located just
southeast of the city of Winter Garden. Both Ocoee and Winter Garden have seen
much growth in commercial properties over the last few years. Many new residential
subdivisions have been constructed in this area over the last five to ten years.
Therefore, this immediate area is considered to be in a growth stage; however, growth
is currently stalled due to the weak economy.
13 -184 Parcels 105 & 705
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GENERAL DISCUSSION
A neighborhood is defined as a grouping of complimentary land uses. The
neighborhood is bounded by the following:
• Northern Boundary - Story Road
• Southern Boundary - Florida's Turnpike
• Western Boundary - Winter Garden - Vineland Road
• Eastern Boundary - Clarke Road
The neighborhood is defined as the City of Ocoee, Florida. Ocoee is located just
southeast of the city of Winter Garden. Both Ocoee and Winter Garden have seen
much growth in commercial properties over the last few years. Many new residential
subdivisions have been constructed in this area over the last five to ten years.
Therefore, this immediate area is considered to be in a growth stage; however, growth
is currently stalled due to the weak economy.
13 -184 Parcels 105 & 705
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GENERAL DISCUSSION
A neighborhood is defined as a grouping of complimentary land uses. The
neighborhood is bounded by the following:
• Northern Boundary - Story Road
• Southern Boundary - Florida's Turnpike
• Western Boundary - Winter Garden - Vineland Road
• Eastern Boundary - Clarke Road
The neighborhood is defined as the City of Ocoee, Florida. Ocoee is located just
southeast of the city of Winter Garden. Both Ocoee and Winter Garden have seen
much growth in commercial properties over the last few years. Many new residential
subdivisions have been constructed in this area over the last five to ten years.
Therefore, this immediate area is considered to be in a growth stage; however, growth
is currently stalled due to the weak economy.
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 40
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 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 41
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 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 42
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 105 & 705
CONCEPT PLAN FOR CITY PLACE AT MAGUIRE
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 43
The following contains graphics and a discussion of the West Colonial retail market in
particular.
(AtAW*U - M10 YEAR 101)
WEST COLONIAL !MARKET
Ati \ ;1c 1 \c 1 N10owal Analysis, AbClasses
OOMwrM tr �Ywr�tio+ Ef �vuawq
4:
The black line in the graphic above shows the vacancy rate for retail space in the West
Colonial area. Vacancy currently stands at 11.1 %.
The following chart shows the drop in residential sales volume and pricing in the area.
Home Sales in Zip Code 34761
co"
Price
650-- - - - - -- -- — - -- -
sm.000
600 - - - ---
$240,000
550 —
W220,000
500
$2W,O0o
450
$180,000
$160,000
Coot
HSaks
350
5740,000
per Q„&W
300- - - - - -- -- - -- --
$120,000
250
$100,000
200 — — — —
$80,000
150 - - - — —— — -- —— —— — — — --
$60,000
100 — — — - - — — — —
$40,000
Meam Aline
50– – – – – – – – – -- – – – – – – – –-
W20,000
0
$0
01 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 02 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2008 2009 2010 2011 2012
2013
13 -184 Parcels 105 & 705
APPRAISAL DF PARCEL Nos. 105 &705
THE BRALANDF»ROPERTY
PROJECT: CITY OFK3COEE|BLUFORD AVENUE PROJECT PAGE44
/\CCOndiOg to o recent report published by the UOiw8[Sit« of Central Florida (UCF)
Institute for EC000DliC Competitiveness (dated July 2013), it is expected that payroll job
growth ye2F0v8r-yeoria expected tO average 2.O96in2013.2.1Y6in2O14. and 2.596in
2015.|t will ba the second quarter Of2O1O before payrolls recover t0 their pre-recession
levels. Housing starts are expected to have average @OOu8| growth of 31.496 during the
2013-2016 period.
The h}U0vvng chart from the report ohOxvS the historic and projected Gross State
Flonda Real Gross State Product
CONCLUSION
The long term prognosis for the neighborhood is stable to positive. As previously noted,
the n88| estate market is beginning to show signs of modest improvement. This trend is
expected k}continue.
13-184 Parcels 105 ums
CONCLUSION
The long term prognosis for the neighborhood is stable to positive. As previously noted,
the n88| estate market is beginning to show signs of modest improvement. This trend is
expected k}continue.
13-184 Parcels 105 ums
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 45
LAND SALE DATA SHEET
13 -184 Parcels 105 & 705
1
Location
At the northwest corner of Rewis Street and
Lyman Avenue
City, County
Ocoee, Orange County
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 105 & 705
APPRAISAL OF PARCEL NOS 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 46
13 -184 Parcels 105 & 705
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13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 47
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13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
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ai the w: ,n^ Yd nxxF^s tt n,rpxry .ai
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cm,j;d IkA,a. the trcei;s And sutrxc c} at whx:h It ta:rb, ;v;kewwk,igcd. "+rrrhp gtanta, hargaim still .
alien, mm—, rrlcaw oo,e), AM wnfvrnt unu tht -411 of 'be (:,rant tt`t right title am `ractru in
that trrtain ,3 pa towic in (?ran c t ount %. F'fonda_ , rr
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Plat tl.w,k A, u Pa }e 11 A, Ire the PON, Rccrnd, u5 r ktnAc Corm, F I "?c dj
SAM hRt)KR71 IS N()I lilt H(MUSFt of THE GRANTOR. 1 , All 1 I11 RIt 11 fit -INi,
cfi5Ah1'LU AT THE RFQt FST fW TNT GRANTOR AND l lit, t`,RAN111 wl Ili NO i IftL SFAWa H
ENAMINA l IOM: i7R Nsl lf AN(I ItAVIN6IV IN RFQI FSI1 D (tK I -Rti VIDLD.
lv(td►rr wrh 0 the tenrr,,enn, hex' ftumers, 1,1 apfwtteruace Chart + be'a +x rn aayxl,t
Mike wuljng
To Eiave and to ttold, the SAmc to !cc c,trq c fotc,rr.
Aod the <lrantct herb ,0 eciamm w"h the (:ranter the ttas I irartot s ?awtally wi. 0( rAld rrat
pdsq+rrn o, fce ,.",file . that the (;maul hi, pond right anJ iawfal aatbMtN w All aril ccMa,cy Sax) Ira,
t±rc>F+ertT, that the d.Sri of hh'rctr} NV% wsttsnls the talc to said Mai MT" and w,U drtrxl tiro wan .w vlpsl
dw tawfal ctavns or all Ps o", whom aw+e._ Anil that ,a :J weak pn pert+ is fret of rraumManLtt, VlF rrt raecs
waving suE•srtl:. 111 l0 Ddt.rtntnt tl ?ui t Arne cnly:+tr v, easemrnts cmidu± i, rcatrrrt can`t, rese'ra at a
IunxtAGuvs 0J a 0t rt, tt at ,
in Wits - , Wber"L Uw 0 t %A, ,Igx.t and xc asJ thrcr prcw", tlu: Ja, and dear tits'
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Male th,s "" y, of Atar.h A D : t Ir Fsriµue Z.eprda and Mettra Zel"11. hustnnd Ani w1k
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ai the w: ,n^ Yd nxxF^s tt n,rpxry .ai
AN t/ "W11►. !that [he C:rsnl x. kx ats«: +n cxmKl4xt.l., A 9. J.1, of S.0 I),) ",u .nhr, waluahk
cm,j;d IkA,a. the trcei;s And sutrxc c} at whx:h It ta:rb, ;v;kewwk,igcd. "+rrrhp gtanta, hargaim still .
alien, mm—, rrlcaw oo,e), AM wnfvrnt unu tht -411 of 'be (:,rant tt`t right title am `ractru in
that trrtain ,3 pa towic in (?ran c t ount %. F'fonda_ , rr
TF`c f9Yt *14 frrct of 1114 A Aral fbc kart " t fret of tot 7 I,Ine N.rnh 04 1kNc'( 12"' na
K>sl of RIBFN KFC,1 kR'S SUBDIVISION, X,,ad;me k, Ow Peel hcirx as recte,9rt1 In
Plat tl.w,k A, u Pa }e 11 A, Ire the PON, Rccrnd, u5 r ktnAc Corm, F I "?c dj
SAM hRt)KR71 IS N()I lilt H(MUSFt of THE GRANTOR. 1 , All 1 I11 RIt 11 fit -INi,
cfi5Ah1'LU AT THE RFQt FST fW TNT GRANTOR AND l lit, t`,RAN111 wl Ili NO i IftL SFAWa H
ENAMINA l IOM: i7R Nsl lf AN(I ItAVIN6IV IN RFQI FSI1 D (tK I -Rti VIDLD.
lv(td►rr wrh 0 the tenrr,,enn, hex' ftumers, 1,1 apfwtteruace Chart + be'a +x rn aayxl,t
Mike wuljng
To Eiave and to ttold, the SAmc to !cc c,trq c fotc,rr.
Aod the <lrantct herb ,0 eciamm w"h the (:ranter the ttas I irartot s ?awtally wi. 0( rAld rrat
pdsq+rrn o, fce ,.",file . that the (;maul hi, pond right anJ iawfal aatbMtN w All aril ccMa,cy Sax) Ira,
t±rc>F+ertT, that the d.Sri of hh'rctr} NV% wsttsnls the talc to said Mai MT" and w,U drtrxl tiro wan .w vlpsl
dw tawfal ctavns or all Ps o", whom aw+e._ Anil that ,a :J weak pn pert+ is fret of rraumManLtt, VlF rrt raecs
waving suE•srtl:. 111 l0 Ddt.rtntnt tl ?ui t Arne cnly:+tr v, easemrnts cmidu± i, rcatrrrt can`t, rese'ra at a
IunxtAGuvs 0J a 0t rt, tt at ,
in Wits - , Wber"L Uw 0 t %A, ,Igx.t and xc asJ thrcr prcw", tlu: Ja, and dear tits'
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PAGE 48
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY PAGE 49
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
LAND SALE DATA SHEET
13 -184 Parcels 105 & 705
2
At the northeast corner of Rewis Street and
Location
Lyman Avenue
City, County
Ocoee, Orange County
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)
Low Density Residential
designation
Topography
Generally level
Access
Good
Exposure
Good
Price /SF
$2.02
Comments
VERIFICATION
Date Verified
8/8/2013
Verified By
Heather Lynn Haas
Verified With
Public Records
Contact Information
N/A
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 50
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13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 51
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ll �_ J .11_.
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13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
Nw "$.
Scfwwi, Lumpe, Sa r. ico, Inc.
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13-184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 53
LAND SALE DATA SHEET
13 -184 Parcels 105 & 705
3
Location
Along the west side of Main Street south of
Maple Street
City, County
Winter Garden, Orange County
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 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 54
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13-184 Parcels 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 55
13-184 Parcels 105 & 705
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13-184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
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PAGE 56
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL Nos. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
2012052451"9 Page 2 of 2
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PAGE 57
13-184 Parcels 105 & 705
ILI.
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PAGE 57
13-184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 58
LAND SALE DATA SHEET
13 -184 Parcels 105 & 705
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 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 59
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APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT
PAGE 60
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13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 61
THIS INSTRUMENT PREPARED BY
62 22 12 : 0 5. PM P P : stns
ase I of 3
RETURN TO AFTER RECORDED:
R�F� :00336
OOR Adeln Roa: $0,"
Intansibt• Taa: N
nortsasa stamp: $0 00
BLAIR M. JOHNSON, P.A.
%Ith. 0 Hayni Lo"trol lay
BLAIR M. JOHNSON, ESQUIRE
SAA - **t Co unty R JOHNSON ATT
Post Office Box 770496
III�6.TW.1ji� !'1P 1' I•! �1
Winter Garden, Florida 34777-0496
(407) 6M -5521
Florida Bar No. 296171
Property Appraisers Parcel I.D. #: 35 -22 -28 -0000-00 -036
WARRANTY DEED
THIS WARRANTY DEED made the 18Ch day of E_ebruary 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 taxes accruing subsequent to December 31, 2012
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND 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:
eas A14EN G. LIANG
Blair M lOhnson
Print N ne of Witness
Q
Withess
KAMY_ Dickey
Print Name of Witness
STATE OF FLORIDA
COUNTY OF ORANGE
r -, N e- 4-
YVONN K. LIANG
2319 tiytnl2rdongourt
Orlando. Florida 32835
Address
The foregoing instrument was acknowledged before me this 18th day of
February. 2013 by ALLEN G. LIANG and YVONNE K. LIANG who have produced their
Florida Drivers Licenses as identification.
-2_
Warranty Deed
PAGE 62
13 -184 Parcels 105 & 705
N ry Name: fialr M Johnson
My commission expires:
-2_
Warranty Deed
PAGE 62
13 -184 Parcels 105 & 705
APPRAISAL OF PARCEL NOS. 105 & 705
THE BRALAND PROPERTY
PROJECT: CITY OF OCOEE; BLUFORD AVENUE PROJECT PAGE 63
20130105 Page 3 of 3
Cntnrtr.,re at 'At Nor'hwest cc rrcr or Ehr Nort8fv- I +4 of the SOW4west It4 of Secti:.n 35, TrwnsFip 22 S ;aCr
Rangc 28 Fast, Orange County Flor. ^a; tt nee tun S = -uth � degree 2947" Eas' airing the Wrst "ire of ast.* ho^,neast
I of the Sno jwes' li4 a di.st:ru o`510 2c feet, them leav;ng said `•Pest line, rur Nnr"h 8? degtecti W75.
t a
d,atsace Of 32 97 feet to a point or. 'he East -tght of way line o.` Edgewood Ranch Road, said point being tl
begirc�ng,
h c:c ,. caa•.tnua NL,th R9 degrees 26'25' Fut a distance I 1 7 00 feet; theact run Nnrt:-t 00 drg re 2 {,4
West a distance of 15 t},7 fee.; ''Knee Mn 407th 89 degrees 26' 25," East a dtstanct of 17.00r fc+, thence run Snath ,�,
g:ees 25t7" Las: a di3,ance of ;'5.98 feet; thenct run South 89 degrees .524" West a distarct of 134.,,x. fist -.t a
the af, msaid Fsu rght of way line of E.dgeweod Stanch Road: therete Cry North 00 defier. 25'4? � t ,long
S4i'{ East rtg,6t cf wa a drstancq cf 1fif).98 feet to tf. pout of Seginning
E
13 -184 Parcels 105 & 705
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 (Cl 104)
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
Equity Capitalization
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
AC#672755 STATE OF FLORIDA
DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
FLORIDA REAL ESTA'T'E APPRAISAL BD SE L121.1 1501570
DATE - LICENSE NBR 1
11/15/20121128147329 `RZ1054
The CERTIFIED GENERAL APPRAISER
Named below IS CERTIFIED
Under the provisions of Chapter '475 FS.
Expiration date: NOV 30, 2014
DERANGO, DANIEL ROBERT
1601 E AMELIA ST
ORLANDO FL 32603
RICK SCOTT
GOVERNOR
KEN LAWSON
SECRETARY