(2.5) Recommended Project Appraisal Report Format

Part I – Introduction, General Factual Data and Analysis

Introduction

(1) Title Page
(2) Transmittal Letter
(3) Table of Contents
(4) Executive Summary
(5) Statement of Assumptions and Limiting Conditions
(6) Description of Scope of Work

General Factual Data

(7) Area, City, and Neighborhood Data
(8) Zoning and Other Land Use Regulations
Analysis
(9) Analysis of Highest and Best Use
(10) Discussion of Approaches to Value
(11) Land Valuation
(12) Cost Approach
(13) Sales Comparison Approach
(14) Income Capitalization Approach
(15) Special Studies

Part II – Individual Parcel Report

Introduction

(16) Title Page
(17) Table of Contents
(18) Appraiser’s Certification
(19) Summary of Salient Facts and Conclusions
(20) Photographs of Subject Property
(21) Statement of Assumptions and Limiting Conditions
(22) Description of Scope of Work
(23) Executive Summary

Factual Data [total acquisitions] or Factual Data – Before Acquisition [partial acquisitions]

(24) Legal Description

(25) Area, City, and Neighborhood Data
(26) Property Data

a. Site
b. Improvements
c. Fixtures
d. Use History
e. Sales History
f. Rental History
g. Assessed Value and Annual Tax Load
h. Zoning and Other Land Use Regulations

Data Analysis and Conclusions [total acquisitions] or Data Analysis and Conclusions – After Acquisition [partial
acquisitions]

(27) Analysis of Highest and Best Use
(28) Land Valuation
(29) Value Estimate by Cost Approach
(30) Value Estimate by Sales Comparison Approach
(31) Value Estimate by Income Capitalization Approach
(32) Reconciliation and Final Opinion of Value

Factual Data – After Acquisition [partial acquisitions only]

Items (24) to (26) in after situation

Data Analysis and Conclusions – After Acquisition [partial acquisitions only]

Items (27) to (32) in after situation

Acquisition Analysis [partial acquisitions only]

(33) Acquisition Analysis

Exhibits and Addenda

(34) Exhibits and Addenda

a. Neighborhood Map
b. Comparable Data Map
c. Detail of Comparative Data
d. Plot Plan
e. Floor Plan
f. Title Evidence Report
g. Other Pertinent Exhibits

Part III – General Exhibits and Addenda

(35) Location Map
(36) Comparable Data Maps
(37) Details of Comparative Data
(38) Other Pertinent Exhibits
(39) Qualifications of Appraiser