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) <br />K <br />BETTENDORF ROHRER KNOCHE WALL) <br />APPRAISALS VALUATION SERVICES <br />1 August 26, 2003 <br />Mr. Ron M ootm ; <br />City Administrator <br />City of Orono <br />2750 Keliey Parkway <br />Orono. MN SS3S6 <br />'*c»v*D <br />Re;Fee Proposal <br />Two Vacant Sites <br />Wildhurst Site and Garden CT Site <br />Orono. MN <br />Dear; Mr. Moorse <br />In response to your request I am submitting a fee proposal for the appraisal two <br />vacant sites in the City of Orono. The Wildhurst Site (07-117-23-24-0031), <br />containing 1.09 acres, is owned by the City of Orono and the Garden Ct. Site <br />(07-117-23-24-0036) containing 1.22 acres, is owned by Richard Hennessy. The <br />purpose of the appraisal is to provide an opinion of the market value of each site. <br />The intended use of the appraisal is to assist in determining the reasonableness <br />of a land exchange between the two owners. <br />Two appraisal reports will be prepared with each one covering one of the sites. <br />A Complete Appraisal, self-contained appraisal report will be prepared on each <br />site detailing the data and analysis of the property and the valuation of the <br />individual sites. It is assumed that much of the research and analysis developed <br />for one of the properties will be useable in the valuation of the other property. <br />These reports will be prepared in conformity with the Code of Ethics and <br />Standards of Professional Practice of the Appraisal Institute and in conformity <br />with the Uniform Standards of Professional Appraisal Practice (USPAP). <br />The Fee for the appraisal of both pioperties is: <br />$4,200.00 <br />The timeframe to complete the assignment is estimated at 6 to 8 weeks following <br />the authorization to proceed. <br />Attached is a copy of my qualifications and a company profile for your <br />convenience. Thank you in considering me for this matter <br />IY/»urs trul/* <br />•Y \ ^ / / V / <br />Michael J. Bet'tcndorf. MAI \..- 'v S^tUCI rili CINTif SUITI 314 <br />1 600 UNIVIISITY AV( ST PAiii MN 55104 <br />651646 6114 PAX 651 646 6086 brkwdbrkw com <br />I