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El Request for Action <br /> River <br /> To Item Number <br /> Economic Development Authority 6.2 <br /> Agenda Section Meeting Date Prepared by <br /> General Business October 20, 2014 Jeremy Barnhart, Deputy Director, CODD <br /> Item Description Reviewed by <br /> Authorize Appraisal for EDA property <br /> Reviewed by <br /> Action Requested <br /> Authorize, by motion,an appraisal of EDA property: <br /> Natures Edge Business Center, second addition <br /> Fox Haven Commercial <br /> Background/Discussion <br /> Natures Edge Business Center second addition <br /> The known costs of Natures Edge Business Center have been determined and construction is underway. <br /> In order to best position the lots for sale, staff recommends the completion of an appraisal, to best <br /> determine market rate for the two industrial and three commercial lots. An appraisal was completed for <br /> the 1"phase,in 2012. <br /> Fox Haven Commercial <br /> Since acquiring the Fox Haven Commercial property in September, the asking price for the lots has not <br /> been determined. Staff suggests completing an appraisal. Alternatively, the asking price could be in the <br /> $2.25 to $3.45 range, consistent with similar lots in the County. <br /> Financial Impact <br /> Each appraisal is expected to cost about$5,000, coming from Other professional services line item, <br /> reducing Brand Plan implementation. <br /> Attachments <br /> • None <br /> FP-011E11E11 D1' <br /> NATURE <br />