Specifications include, but are not limited to: The vendor shall physically inspect all state-owned buildings with a replacement cost value of $75,000 or greater over a four year rotation period. Properties that reach this threshold by index adjustment will be added to the schedule. Approximately 25% of the state-owned properties valued at $75,000 or greater should be field reviewed per year and the remaining 75% would be index adjusted on the basis of regional rates/index factors. Additionally, all new properties and major renovations are to be field appraised in the year that they come on line. There are approximately 850 buildings to be appraised. Generate square footage for each building through a review of blueprints, physically measuring each building or by using existing documentation and then verifying the data provided. Identify major construction components and building elements and value them as part of the overall structure. Prepare building plans/notes and photographs for each site. Examine the site was examined for completeness to ensure that structures with a value less than $75,000 were accounted for in the State’s Statement of Values.
