Contracts & Agreements_25A-1972 - Laserfiche WebLink

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TELEPHONE (714) 888-1341 RAY R. HASTINGS REAL ESTATE APPRAISER Member AMERICAN INSTITUTE OP REAL ESTATE APPRAISERS SOCIETY OP REAL ESTATE APPRAISERS October 23, 1972 Mr. R. P. Merritt, Jr. City Manager City Hall Redlands, California Dear Mr. Merritt: 350 WEST 5TII STREET, SUITE 208 SAN BERNARI)IN0, CALWORNIA 92401 Re: Proposed Redevelopment Agency City of Redlands Redlands, California Pursuant to your request, I am submitting to you time and charges to make an appraisal of approximately 26 ownerships (41 Assessor's parcel numbers) located in an area surrounded by Redlands Boulevard, Orange Street, West Citrus Avenue, and South Eureka Street, in the City of Redlands. The cost to prepare an appraisal report covering the 26 ownerships will be in the amount of $20,000.00. This office is in the position to start on this assignment immediately after acceptance of the contract and completing said assign- ment within 120 days. In the event that the City of Redlands has acquired market data, lease data, etc., through the efforts of the American Appraisal Company in their feasibility report, the above mentioned fee will be renegotiated, depending upon the data furnished by the City. The appraisal report will be used for negotiation purposes and, in the event there is a condemnation filed, any addition- al research, pre-trial conferences, and court appearances, then my services will be based on a rate of $150.00 per diem. The appraisal report will cover land and improvements for each parcel assigned. The report will include market data and improvements, lease data, an economic study of the neighborhood, highest and best use data, photographs, maps, and other pertinent data used in estimating the present Fair Market Value of the properties appraised. it is understood that all the appraisals will be contained in one volume and that no preliminary values will be submitted on any of the properties.