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s ,�I. <br />Integra Realty Resources <br />Charlotte <br />May 10, 2013 <br />214 W. Tremont Avenue T 704.376.0295 <br />Suite 200 F 704.342.3704 <br />Charlotte, NC 28203 www.irr.com <br />Sue Hyde <br />Director of Engineering <br />City of Concord <br />PO Box 308 <br />Concord, North Carolina 28026 -0308 <br />SUBJECT: Market Value Appraisal <br />The Glenn Center <br />120 Marsh Avenue Northwest <br />Concord, Cabarrus County, North Carolina 28025 <br />IRR - Charlotte File No. 105 - 2013 -0503 <br />Dear Ms. Hyde: <br />Integra Realty Resources — Charlotte is pleased to submit the accompanying appraisal of the <br />referenced property. The purpose of the appraisal is to develop an opinion of the market <br />value as is of the fee simple interest in the property. The client for the assignment is City of <br />Concord, and the intended use is for asset valuation purposes. <br />The appraisal is intended to conform with the Uniform Standards of Professional Appraisal <br />Practice (USPAP), the Code of Professional Ethics and Standards of Professional Appraisal <br />Practice of the Appraisal Institute, applicable state appraisal regulations, and the appraisal <br />guidelines of City of Concord. The appraisal is also prepared in accordance with the appraisal <br />regulations issued in connection with the Financial Institutions Reform, Recovery and <br />Enforcement Act (FIRREA). <br />To report the assignment results, we use the summary report option of Standards Rule 2 -2 <br />of USPAP. Accordingly, this report contains summary discussions of the data, reasoning, and <br />analyses that are used in the appraisal process whereas supporting documentation is <br />retained in our file. The depth of discussion contained in this report is specific to the needs <br />of the client and the intended use of the appraisal. <br />The subject contains a swimming pool, two baseball fields, a football field and seven athletic <br />buildings that contain a total of 6,509 square feet of rentable area. The improvements were <br />Attachment number 1 <br />H -5 <br />Page 330 <br />