2.2 Minimum Standards for Airport Appraisals: Appraisal or reappraisal standards for Airport property shall be based on a professional determination and opinion of the fair market value of land (improved or unimproved) and any improvements furnished by Volusia County but not including improvements furnished by the Federal Aviation Administration (FAA) as part of an Airport Improvement Project (AIP) allocated to Volusia County. Appraisals may include the fair market rental value of Airport land or improvements including office, hangars, aircraft ramp or other facility rentals under the complete range of full-service lease arrangements or net/net/net (triple net) lease agreements, or agreements where the Airport may have very limited responsibility for the land or improvements leased. To be considered qualified to complete Airport appraisal work, appraisers must be certified as a MAI (Member of the Appraisal Institute) with all appraisal reports submitted as a final work product certified by an MAI appraiser. To be considered qualified to perform Airport appraisals, respondents shall have an active license and Certification from the State of Florida to perform real estate appraisals with the State issued Certificate Number to be submitted with the response to this RSQ. Appraisals prepared by real estate sales associates or real estate brokers certified by the Florida Department of Business and Professional Regulation without MAI certification and current State Certification for real estate appraising will be rejected under this RSQ. Qualified appraiser respondents under this RSQ, in addition to having MAI certification, shall also agree to be guided by recognized appraisal standards propounded by the American Institute of Real Estate Appraisers and to have a background of higher education and experience that would reasonably qualify them for Airport appraisal tasks. Depending on the appraisal task requested, a qualified appraiser shall be able to competently execute the three general approaches to real estate appraising. These shall include the income approach, the replacement approach and the comparable sales approach with reconciliation of all three approaches, as may be required by the specific assigned task. The Appraisal Report requested for Airport appraisals shall be in a Summary Appraisal Report format and submitted to the Airport via email and a mailed hard copy. Respondents to the RSQ shall comply with the Uniform Standards of Professional Appraisal Practice in all appraisals performed after award of a contract under this RSQ including Uniform Standards for Federal Land Acquisition. Qualified respondents shall also be qualified to meet all State and Federal appraisal standards for acquisition of additional property that may be purchased in whole or in part with Federal or state funding and become part of Daytona Beach International Airport.
