DASM 8455 RFQ Exhibit A Scope and Specifications 6.24.25.pdf

EXHIBIT “A”

RFQ SCOPE OF SERVICES AND SPECIFICATIONS

Property: The real property to be appraised is located along Tower Ridge Calhoun Road Drive in unincorporated Vinton County, Ohio, whose Parcel Number is 17-00688.000 according to the Vinton County Ohio Auditor and is listed and described in the attached Exhibit “B” which is made a part of this Agreement (the “Property”). The submission of a quote for appraisal services, the submitting Appraiser and/or Appraisal Firm certifies that they are qualified, possess the core competency, and experience to produce an appraisal in compliance with the appraisal assignment set out herein. The Appraiser is instructed to use the description(s) and exhibit(s) provided in Exhibit “B” unless a completed survey is provided to the Appraiser by the Department with the superseding instruction to also use said survey in addition to the information provided in Exhibit “B” prior to the expected appraisal completion date.

The Appraiser shall furnish a substantiated Appraisal Report (the “Appraisal”) of the market value of the Property being appraised, to be estimated in accordance with recognized appraisal procedures. The Appraiser shall make such investigations and studies as are necessary to derive sound conclusions as to the market value of the Property and to prepare an adequate Appraisal.

The Appraisal is subject to review by the Department of Administrative Services, Office of Real Estate and Planning and must conform to the Uniform Standards of Professional Appraisal Practice (USPAP) as an Appraisal Report under USPAP Standard 2-2(a) and the Appraisal shall include the following items:

Client: The client for this report is the State of Ohio and the Department of Administrative Services.

Intended Users: The intended users shall include: the named client, the State of Ohio, Department of Administrative Services.

Intended Use: The intended use of the Appraisal is for evaluation of its potential acquisition of the Property.

Assignment: Appraiser is instructed to develop an opinion of market value of the as is, fee simple interest of the Property encumbered by a license and based on the Appraiser’s supported economic highest and best use for the Property as follows:

• The Appraiser shall first report, regardless of any larger parcel determination, a market value conclusion for each tract provided herein, and calculate an aggregate per acre value containing all tracts.

• If the Appraiser’s determination(s) of Highest and Best Use finds that there are legal limitations

(i.e. zoning) that, if altered, would produce a significant difference in the conclusion, the appraiser may employ a Hypothetical Condition (i.e. rezoning) to consider value under a proposed Highest and Best Use. Likewise, if differences between each tract exist that cannot be reconciled into a uniform determination that applies to the entire acreage, the appraiser may suppose an appropriate Hypothetical Condition (i.e. assemblage, partitioning) that would allow for maximal use benefitting a future purchaser. In both cases the Appraiser shall document in the appraisal why Hypothetical Condition(s) was employed.

• If the Appraiser’s determination(s) that an extraordinary assumption(s) needs to be and is employed as of the effective date of the appraisal, the Appraiser shall document why an extraordinary assumption was employed.

• The Appraisal is due to the Department of Administrative Services Office of Real Estate and

Planning located at 4200 Surface Road, Columbus, Ohio 43228 no later than 45 days from full execution of the Request For Quote.

Definition of Market Value: (Source: Federal Registry 12CFR, Part 323) The most probable price which a property should bring in a competitive and open market under all condition’s requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

• Buyer and Seller are typically motivated;

• Both parties are well informed or well advised, and each acting in what they consider their own best interest;

• A reasonable time is allowed for exposure in the open market;

• Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.

Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs that are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments should not be calculated on a mechanical dollar-for-dollar cost of the financing concession, but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraisers’ judgment.

Inspection Conditions:

• The appraiser of record representing the selected vendor, shall be an Ohio Certified General

Real Estate Appraiser as currently accredited by the Ohio Department of Commerce, be professionally designated as an MAI appraiser, and shall personally hold and maintain any claimed designation or professional credential in good standing through the end of the expected date of report delivery (and shall be expected to renew, maintain, or recertify as necessary for a one-year period following the date of report delivery).

• While trainees or assistants may accompany, assist, or support the professionally designated

MAI appraiser bearing an Ohio General Appraiser’s Certification in Real Estate Appraisal, the designated, certified general appraiser must personally make a physical, onsite inspection of the Property, indicate within the report the date and extent of the property inspection, and sign the report. Only the person(s) possessing the professional designation and General Certification shall be allowed to sign the Appraisal.

• The Appraiser conducting the inspection is advised that compliance with the policies of the

Client, the Intended User and the owner of the Property shall be required, which may entail a degree of limitation in the extent of photography, measurement, or inspection that may be permitted within any structure or upon any tract of the Property. If the Appraiser believes the policies of Client, Intended User and/or owner of the Property limit and/or interfere with the Appraiser’s ability to inspect the Property, the Appraiser shall provide written notice to Client and the Department of Administrative Services identifying said policies, together with an explanation of how said policies limit and/or interfere with the ability of the Appraiser to inspect the Property. When substantiated by the Client, the Appraiser is permitted to employ Extraordinary Assumptions or Hypothetical Conditions as necessary based on the available data and observable areas when assigning conclusions as to condition or value of any component of the Property.

Property Features or Improvements: Unless the Client or its Intended Users specifically instructs the appraiser otherwise:

• If a structure or improvements are located on the identified tract, the Appraiser shall consider it as an improvement in place and consider its contribution to value accordingly, under whatever determination is made under an analysis of Highest and Best Use As Improved. Determination for subject value “as if vacant” can separately consider the subject as land only assuming the removal of such structure or improvements.

• Buildings with bond indebtedness shall be considered as if under no indebtedness for their contribution to value for the tract upon which they are situated.

• The Appraiser shall confine the description of the Property to the real estate. Any non-permanent item (debris, waste, equipment materials, etc.) observed, stored, or noted as present on the Property shall be disregarded as to salvage value or removal costs.

Reporting: A summary report in conformance with USPAP Standard 2-2(a), with adequate exhibits and illustrative exhibits is required to substantiate Appraiser(s) value opinion. This is not a condemnation appraisal, so while grid formats may be employed within the report to restate and summarize data, the use of eminent domain formats or preprinted forms is not recommended. The Appraisal shall, in form and substance, conform to industry-recognized appraisal practices and techniques for determining values. The assemblage of material shall conform to the requirements set forth by the agencies involved. Delivery of a report in PDF format with color photographs and exhibits shall be acceptable to the Department of Administrative Services, Office of Real Estate and Planning.

Sales Comparison Approach: The Appraiser shall verify, insofar as is practicable, all recent sales of the Property that the Appraiser has taken into consideration as reflecting the value of the Property appraised. Such verification shall include interviewing the seller, buyer, agent, or any other person known to have participated in the transaction, to ascertain the consideration, the terms and conditions of the sale, any special factors affecting the amount of the consideration, and the actual condition of the property at the time of transfer. The name and phone number of the person verifying the sales data shall be reported in the Appraisal. The Appraiser shall include in their workfile a list of comparable sales that were considered and not included in the final appraisal of the subject, including a reason for the rejection of each sale.

The Appraisal must substantiate any quantified adjustment to comparable sales with market data. In the absence of market data, the Appraiser must provide a detailed qualitative analysis that compares each sale to the subject Property (and ranks them comparatively by characteristic). Substantiation of adjustments shall include adequate discussion and rationale within the Appraisal so that a review appraisal can adequately judge the reasonableness of the comps and their adjustments [i.e. stating “comp 2 had better location” is not adequate support for a location adjustment. Describe what is better about the location, why it was significant, whether that characteristic is uncommon to the area, and how was the size and amount of the adjustment determined.]

Cost Approach: If considered, the Appraiser shall provide as an exhibit, or incorporate by reference, the source of cost data used. Include a discussion supporting the determination of class and condition.

Income Approach: If considered, the Appraiser shall include as an exhibit the sources used to determine all capitalization rates or applicable factors used in the calculation of this approach.

Exhibit(s): The Department of Administrative Services, Office of Real Estate and Planning shall provide the following to the appraiser for use in developing his or her opinion:

• Map(s) provided by the Department of Administrative Services, Office of Real Estate and Planning or a surveyor, showing the proposed approximate surface boundaries of the subject tract.

• A legal description, parcel number, or similar description of each tract.

Performance: The expected due date for the report shall be as specified in the accompanying Request for Quote.

• When supported, the Appraiser may use reasonable Hypothetical Conditions or Extraordinary Assumptions as necessary to develop meaningful results by the expected due date and shall state such conditions or assumptions within the report.

• The Appraisal shall be in compliance with USPAP Standard 2-2 and shall contain a certification statement.

Additional Items: The Appraisal is not complete until approved and accepted by the Department of Administrative Services, Office of Real Estate and Planning. Such approval and acceptance may be conditioned upon the completion of a review of the Appraisal. The Appraiser agrees to provide any revision, correction, addendum, or additional substantiation requested by the aforementioned Department in a timely manner.