I. Requested Services i. The Consultant shall conduct all appraisals based on the guidelines of this document. ii. The Consultant shall deliver all appraisals within twenty-one (21) calendar days of notice to proceed unless specifically agreed to otherwise in writing. iii. The Consultant shall provide a copy of the required appraiser license or certification and a list of the appraiser's qualifications and experience with appraisal. II. Appraisal Type: Each appraisal report shall be conducted in accordance with 49 CFR 24.103 and the Uniform Standards for Professional Appraisal Practice (USPAP). III. Subject Property: The appraisal shall be performed specifically to value the property and property rights and shall include at a minimum: i. A tax map of the subject property. ii. A location map of the subject property. iii. A legal description of the subject property. iv. Photographs of the subject property. v. Specific information regarding any future developments within a three (3) mile radius of the subject property. IV. Use Limitations i. The impact of the existence or lack of a permanent access right-of-way to the subject property and its impact on value shall be described in the report. ii. Legal limitations of the subject property and comparable sales, including but not limited to local land use regulations and easements (conservation or otherwise), shall be described and incorporated into the report. iii. Physical limitations of the subject property and comparable sales, including but not limited to soils and topography, shall be described and incorporated into the report. V. Maps: The subject property and comparable sales shall be displayed and identified on a locator map. VI. Valuation: i. The valuation shall be of the fee simple interest of the subject property. ii. The valuation shall be for the purpose of property acquisition by the Town, unless otherwise instructed. iii. The appraised value shall not be based on speculative development potential or hypothetical development scenarios. The appraised value shall be based on the subject property's existing development rights and status (unimproved or improved with roads and utilities, etc.). iv. The valuation shall include any application currently submitted or approved by the Town on the parcel itself along with the adjacent parcels within a three (3) mile radius of the subject property. VII. Comparables: A minimum of five (5) comparables shall be provided with each property appraisal utilizing the comparable sales approach. VIII. General Requirements: i. The Consultant(s) shall provide the Town with one printed copy and one electronic copy of the final appraisal report. The report shall become the exclusive property of the Town. Cost for delivery/shipping of the reports shall be included in the quoted rates. Additional delivery/shipping charges shall not be permitted. ii. All documentation supporting the appraisal process shall be included in the reports.
