CPI, Canal & Eastern Maritime Planned Development District (MPDD) Change of Zone Application Final EIS

Appendix J-4 Preliminary Feasibility Report, Canal

Breslin Appraisal Co., Inc.

March 1, 2014

PRELIMINARY FEASABILITY REPORT

OF

REAL PROPERTY LOCATED AT

1 & 5 North Road & 243 E. Montauk Highway Hampton Bays, NY 11946

AS OF

March 1, 2014

PREPARED FOR

Canal Properties LLC

REQUESTED BY

Gregg Rechler Canal Properties LLC 85 South Service Road Plainview, NY 11803

PREPARED BY

BRESLIN APPRAISAL CO., INC. 44 ELM STREET SUITE 5 HUNTINGTON, NEW YORK 11743 BRESLIN APPRAISAL CO., INC. 44 Elm Street, Suite 5 Huntington, NY 11743

Residential Division Phone: (631) 271-7277 Fax: (631) 271-7298

March 10, 2014

Gregg Rechler Canal Properties LLC 85 South Service Road Plainview, NY 11803

Re: Breslin File No: R-14-4321 Canal Properties LLC Appraisal of: 1 & 5 North Road & 243 E. Montauk Highway Hampton Bays, NY 11946

Dear Mr. Rechler:

Pursuant to your request, we have prepared a preliminary appraisal report to establish the feasibility and estimate the potential fair market value range, under the assumption of construction of 37 single family units on the above referenced property(s).

The appraisal has as its purpose, the determination of the subject property’s potential market value as of March 1, 2014. Property rights appraised herein are fee simple title ownership, assuming no indebtedness against the property.

The proposed plan has been described as follows: 37 - 3 bedroom attached townhouse row style units all facing the water; averaging approximately 1,978 square feet each; with a clubhouse/gym; outdoor, built in pool; 17 boats slips; approximately 74 resident parking spots with 19 additional land-banked parking spaces; public access to waterfront “overlook”; & 5 public parking spots to access said “overlook”. The individual units as presently planned will have: 9 foot ceilings; hardwood flooring throughout unit; “high-end” equipment in kitchens and bathrooms; superior upscale quality to the fit, finished and trim through interior and exterior units. The facade will be cedar shingle with a boathouse style appearance.

We have inspected the exterior of subject property and surrounding area, researched, selected, and examined realty market data and analyzed all comparable sales used in this report. - 2 -

As a result of our research and analysis, which is more fully detailed in the accompanying report, it is our opinion that the estimated fair market value range of the subject property as of March 1, 2014, is

$525 - $575 Per Square Foot for units offered with boat slips. $475 - $525 Per Square Foot for units offered without boat slips. Gross sell out period 2-3 years from completion

Very truly yours, BRESLIN APPRAISAL CO., INC.

John J. Breslin, Jr. Kathy Leitman President Associate Appraiser Certified General Appraiser NYS Real Estate Appraiser New York Certificate #46000013641 New York Certificate #48000048794

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PROPERTY IDENTIFICATION

Location Hampton Bays, Suffolk County, New York

Street Address 1 & 5 North Road 243 E. Montauk Highway Hampton Bays, NY 11946

Physical Location North of East Montauk Highway / Route 80, East of Newtown Road, South of Main Sunrise Highway / Route 27, West of Peconic Road, East side of Shinnecock Canal

Legal Description District 900, Section 207, Block 4, Lots 22.1, 23, 24, 25

SALES HISTORY OF SUBJECT PROPERTY Three of the lots were purchased February 6, 2007 as follows: Lot 22.1 for $4,000,000, Liber 12490 / Page 985; Lot 23 for $500,000, Liber 12490 / Page 987; Lot 24 for $450,000, Liber 12490 / Page 986; Lot 25 was purchased December 24, 1996 for $705,000, Liber 11807 / Page 706

The appraiser has considered the trend in market values and/or changes in the physical characteristics of the subject property since the date of the above conveyance.

PURPOSE OF THE PRELIMINARY APPRAISAL The purpose of this preliminary appraisal report is to establish the feasibility and estimate the potential fair market value range, under the assumption of construction of 37 – 3 bedroom attached townhouse row style waterfront units.

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FUNCTION OF THE PRELIMINARY APPRAISAL

The function of this preliminary appraisal is to establish the possible & probable fair market value range of the subject property under the assumption of 37 residential single family condominium units, for use in re- property for 37 residential single family condominium units.

ZONING

This report is being prepared as part of a contemplated rezoning application to the Town for a planned unit development. The contemplated zoning would of course permit the anticipated 37 unit development.

ASSESSED VALUE AND TAXES, 2010 TAX YEAR

Assessed Value

Land - Lots 22.1, 23, 24, & 25 $1,295,600

Improvement - Lots 22.1 & 23 $5,065,400

Total Assessed Value $6,361,000

Taxes

Total Taxes $95,601 ±

Note: These are the current taxes as of the 2013 update. The taxes upon completion of the

development proposed would be different; more than likely they would be substantially higher.

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DEFINITION OF HIGHEST AND BEST USE

Highest and Best Use is defined as the reasonable and probable use that will support the highest present value, as defined, as of the effective date of the appraisal.

Alternatively, that use, from among reasonable probable and legal alternative uses, found to be physically possible, appropriately supported, financially feasible, and which results in highest land value.

The definition immediately above applies specifically to the highest and best use of the land. It is to be recognized that in cases where a site has existing improvements on it, the highest and best use may very well be determined to be different from the existing use. The existing use will continue, however, unless and until land value in its highest and best use exceeds the total value of the property in its existing use.

Implied within these definitions is recognition of the contribution of that specific use to community environment or to community development goals in addition to wealth maximization of individual property owners.

Also implied is that the determination of highest and best use results from the appraiser’s judgment and analytical skill, i.e., that the use determined from analysis represents an opinion, not a fact to be found. In appraisal practice, the concept of highest and best use represents the premise upon which value is based.

In the context of most probable selling price (market value) another appropriate term to reflect highest and best use would be most probable use. In the context of investment value, an alternative term would be most profitable use. 1

1 The Appraisal of Real Estate, Twelfth Edition, The American Institute of Real Estate Appraisers.

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DEFINITION OF HIGHEST AND BEST USE (con’t)

Highest and Best Use considers alternative programs of development among uses which are physically possible, legally permissible, economically feasible, and compatible with existing area development and community goals. This analysis considers first the site as though vacant and available for development, and subsequently analyzes the existing improvements in order to establish an appropriate future program of utilization.

In the analysis of the site as if vacant, the appraiser considers the zoning, neighborhood and surrounding land use: also to be considered are zoning changes, zoning board of appeal decisions and changes and trends in property uses in the area.

HIGHEST AND BEST USE OF THE SUBJECT

The highest and best use of the subject property is considered to be a rezoning to the contemplated planned unit development.

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DEFINITION OF MARKET VALUE

“Market Value” means:

“The most probable price which a property should bring in a competitive and open market under all conditions 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 is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:

(a) Buyer and seller are typically motivated;

(b) Both parties are well informed or well advised, and each acting in what he considers his own best interest;

(c) A reasonable time is allowed for exposure in the open market;

(d) Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and

(e) 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.”2

2 Federal Register/Volume 53, No. 3/Wednesday, January 6, 1988/Rules and Regulations

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NEIGHBORHOOD DESCRIPTION

The area is bounded on the North by Great Peconic Bay, East by Shinnecock Hills & Southampton, on the South by the Shinnecock Bay and on the West by East Quogue & Quogue

The area is convenient to schools, shopping, and local business areas.

The ages of homes range from newer construction to 60 ± years old.

Architectural styles include Ranch, High Ranch, Split Level, Cape Cod, Colonial, Mobile Homes, Contemporary, Custom Designs and Style Dwellings.

The home values range from $250,000 to $2,000,000 ± and above depending on lot size, size, age, condition, style, location, improvements, and water frontage & water views.

CHARACTER: Residential

TREND: Slow, Stabilizing

SCHOOL DISTRICT: SD #2 – Hampton Bays

AREA: Hampton Bays – Shinnecock Hills Border

Note: The subject location is at the beginning or entranceway to the popular vacation destination of the Hamptons. The site is situated at the point on the highway before the roadway narrows to one lane. This is an important feature to the drive time for prospective purchasers who come from westerly areas of New York City, Westchester, New Jersey and Connecticut.

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SITE DESCRIPTION

Terrain The site is a gently sloping parcel of land, level with the street sloping towards the water. There are no curbs and no sidewalks.

Landscaping The site has trees and shrubs typical of the area.

Utilities The site has public water, electric, gas and telephone.

Sanitation The site will have to have onsite sanitation. No public sewers are available.

Driveway The site has a gravel, macadam and dirt parking lots.

Docks The subject has a boat basin with 17 boat slips. In addition, there are slips along the bulkhead.

PLOT SIZE

4.33 +/- acres including boat basin.

The shape is irregular

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DESCRIPTION OF SUBJECT PROPERTY

The subject property known as District 900, Section 207, Block 4, Lots 22.1, 23, 24, & 25 consists of four lots totaling approximately 4.33 acres. On the north the property is boarder by the Long Island Railroad. On the west the property is bordered by the Shinnecock Canal, a waterway that connecting Shinnecock Bay to the Great Peconic Bay. On the east the property is bordered by North Road aka North Highway. On the south the property is bordered by Montauk Highway. Both roads are well traveled, busy throughways with direct access Route 27, Sunrise Highway.

Presently the property is improved with several multiple purpose buildings and a single family home. There is a restaurant, bait & tackle shop, waterfront restaurant, parking lot and boat basin. On the North West corner of the property is a utility tower easement.

All of the structures would be demolished to make way for the contemplated development.

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VALUATION PREMISE

The most relevant valuation technique for residential properties is the market data or direct sales comparison approach. In this approach, an opinion of market value is developed by comparing properties similar to the subject property that have recently sold, are listed for sale, or are under contract. “A major premise of the sales comparison approach is that the market value of a property is related to the prices of comparable, competitive properties.

Comparative analysis of properties and transactions focuses on similarities and differences that affect value, which may include variations in the following:

• Property rights appraised

• The motivations of buyers and sellers

• Financing terms

• Market conditions at the time of sale

• Size

• Location

• Physical features

• Economic characteristics, if the properties produce income

Elements of comparison are tested against market evidence to estimate which elements are sensitive to change and how they affect value.”3

The sales utilized by the appraiser in the direct sales comparison approach may be found on the following pages. Unless otherwise stated, all the data listed under the comparable sales was obtained from the of Long Island.

3 The Appraisal of Real Estate, Twelfth Edition, The American Institute of Real Estate Appraisers

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MARKET CONDITIONS OVERVIEW

From the years 2005 to 2007 market prices were still increasing for the Hampton Bays market area. During the years 2007 to 2009 the Long Island Board of Realtors reported declines in home sale prices for the Hampton Bays area. The sharpest decline was noted from 2008 to 2009.

There was an uptick in the sale prices for the year 2010 and the average homes sale price for the

Hampton Bays market area stayed constant through 2013, representing stabilization for the years, however the market continues to remain slow. Surrounding communities of the subject property, also have consistent reports for the same time period. sales prices for the upcoming spring market for 2014 into summer 2014 will be a better indicator of what direction the market may take moving forward with regard to stabilizing sales prices, or if sales prices will shift to a more upward trend. Financing continues to be difficult to obtain since lenders have more stringent credit requirements.

We conducted a search for closed sales in Suffolk County of waterfront & home owner associations that include docking / marina slips as one of or part of the umbrella of amenities included with ownership. There are few developments with deeded boat slip rights included with ownership. Ten sales analyzed on the following pages. Most include docking rights as part of ownership within each of the developments. Each development includes one or all of the following: tennis; clubhouse; built in pool; & beach rights. Some are within a gated community.

There is a breakdown of each sale; followed by each of the sales; concluded with a preliminary sales comparison analysis based on the assumption of the future improvement of the subject property.

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With regard specifically to Sales #1, #2 & #3, the Westhampton condominium complex,

know as Baypointe Yacht Club, located @ 538 Dune Road: There are a total of 10 units; These

units hit market at the end of 2009 in November and December; 7 units have closed as per MLSLI

and public records. Units #2, #3, & #6 have not been recorded as closing. Originally the units were

being offered with an asking price as high as $1,995,000. The units that closed ranged in sale prices

from $1,450,000 in November 2010 to $1,600,000 in 2009.

Close to the subject property, located in Hampton Bays @ 20 Canoe Place Road, is a

relatively new condominium development known as Canoe Place Landing, a 12 unit complex on

4.5 acres. The project is reported by a local broker to be completely sold. Public records show 16

recorded transactions ranging in sales price from $473,697 to $765,569; the $473,697 being an

outlier price, the next highest is $618,264. The units are approximately 1,200 square feet selling at

approximately $515 to $637 per square foot. This complex is not a waterfront development and

boats slips are across the road.

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COMPARABLE SALES BREAKDOWN

Price Orig. Price Days Sale Square Square Sale Year List Price To # Address Price Feet +/- Foot Date Built Price Diff Close 1 538 Dune Rd. W. Hampton, #4 $1,475,000 2400 $615 8/12 2009 $1.595 M (7.5%) 906

2 538 Dune Rd. W. Hampton, #8 $1,525,000 2400 $635 1/11 2009 $1.745 M (13%) 336

3 538 Dune Rd. W. Hampton, #9 $1,531,000 2400 $638 2/11 2009 $1.745 M (12%) 441

4 265 Dune Rd. W. Hampton $845,000 1200 $704 6/13 1994 $899K (6%) 87

5 260 Dune Rd. W. Hampton $800,000 1200 $666 7/13 2002 $850K (6%) 62

6 655 Meadow Court, Southold $847,500 2500 $339 8/12 1996 $885K (4%) 63

7 755 Meadow Court, Southold $770,000 2100 $366 5/12 1996 $839K (8%) 998

8 455 Meadow Court, Southold $725,000 2100 $345 10/12 1992 $749K (3%) 94

9 66 Maidstone Ln, Jamesport $705,000 2500 $282 2/14 2002 $725K (3%) 106

10 77 Water Way, Jamesport $818,000 2700 $302 3/14 2002 $875K (7%) 212

Sales prices prior to adjustments range from $705,000 - $1,531,000.

Sales price per foot square prior to adjustments range from $302 - $704.

Average numbers of day’s units were on the market to closing 303 days.

Average day’s to close on newer units, Sales #1 -#3, 561 days.

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COMPARABLE SALES

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COMPARABLE SALES

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PRELINMINARY SALES COMPARISON ANALYSIS

Price Age & Adj. Squar Cond. Boat Amenity Loc. Tot. Price

e # Address Foot Adj. Slip Adj. Adj. Adj. SF. 1 538 Dune Rd. W. Hampton, #4 $615 0% 0% (-5%) (-10%) (-15%) $523

2 538 Dune Rd. W. Hampton, #8 $635 0% 0% (-5%) (-10%) (-15%) $540

3 538 Dune Rd. W. Hampton, #9 $638 0% 0% (-5%) (-10%) (-15%) $542

4 265 Dune Rd. W. Hampton $704 0% +5% 0% (-10%) (-5%) $669

5 260 Dune Rd. W. Hampton $666 0% 0% 0% (-10%) (-10%) $599

6 655 Meadow Court, Southold $339 +5% 0% 0% +20% +25% $424

7 755 Meadow Court, Southold $366 +5% 0% 0% +20% +25% $457

8 455 Meadow Court, Southold $345 +5% 0% 0% +20% +25% $431

9 66 Maidstone Ln, Jamesport $282 0% +15% 0% +20% +35% $381

10 77 Water Way, Jamesport $302 0% +15% 0% +20% +35% $408

Preliminary adjusted price per square foot range from $381 - $669.

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CONCLUSION

There are very few waterfront townhouse or condominium developments that are in the subject property’s market area that provide the amenity personal of boats slips and boat access to its owners. In addition, the ability to have boat access rights on the canal provides the ability to access the waters of either the north or south shore directly which is extremely attractive to the serious boater.

It is the appraiser’s opinion; the amenity will significantly enhance the subject’s marketability as compared to the existing housing stock as well as those being developed at present.

There has been some recent improvement in the overall economic. Therefore, it is our opinion that the subject’s contemplated development as a townhouse development with well-appointed units of

1,978 +/- SF with direct water views with the amenities of a personal boat slip, pool and clubhouse/gym should be able to provide prices of between $525-$575 per SF for those with the boat slips and $475-$525 for those without.

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ADDENDA

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PHOTOS OF SUBJECT PROPERTY

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PHOTOS OF SUBJECT PROPERTY

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PHOTOS OF SUBJECT PROPERTY

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PHOTOS OF SUBJECT PROPERTY

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PHOTOS OF SUBJECT PROPERTY

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PHOTOS OF SUBJECT PROPERTY

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PHOTOS OF SUBJECT PROPERTY

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PHOTOS OF SUBJECT PROPERTY

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SUBJECT PROPERTY AS DELINEATED ON SUFFOLK COUNTY TAX MAP

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LOCATION MAP

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AERIAL VIEW

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ASSUMPTIONS AND LIMITING CONDITIONS

1. The appraiser will not be required to give testimony or appear in court because of having made this appraisal, unless arrangements have been previously made therefore. The fee paid for this appraisal does not include the charge for any court appearance or conference concerning this appraisal assignment. Said additional charge shall be billed separately.

2. Possession of this report, or a copy thereof, does not carry with it the right of publication. It may not be used for any purpose by any person other than the party to whom it is addressed, without the written consent of the appraiser, and in any event only with proper written qualification and only in its entirety.

3. Neither all nor any part of the contents of this report, or copy thereof, shall be conveyed to the public through advertising, public relations, news, sales, or any other media without written consent and approval of the appraiser. Nor shall the appraiser, firm, or professional organization of which the appraiser is a member be identified without written consent of the appraiser.

4. The legal or identifying description used in this report is assumed to be correct.

5. No survey of the property has been made by the appraiser, and no responsibility is assumed in connection with such matters. Sketches or copies of maps etc. utilized in this report are included only to assist the reader in visualizing the property.

6. No responsibility is assumed for matters of a legal nature affecting title to the property, nor is an opinion of title rendered. The title is assumed to be good and merchantable. The ownership information contained in the report was provided either by the client or the local assessment records.

7. Information furnished by others is assumed to be true, correct and reliable. A reasonable effort has been made to verify such information, however, no responsibility for its accuracy is assumed by the appraiser.

8. All mortgages, liens, , and easements have been disregarded unless so specified within the report. The property is appraised as though under responsible ownership and competent management.

9. It is assumed that there are no hidden unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. No responsibility is assumed for such conditions or for engineering which may be required to discover such factors.

10. It is assumed that there is full compliance with all applicable federal, state, and local environmental regulations and laws, unless non-compliance is stated, defined, and considered in the appraisal report.

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ASSUMPTIONS AND LIMITING CONDITIONS (con’t)

11. It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a non-conformity has been stated, defined and considered in the appraisal report.

12. It is assumed that all required licenses, consents, or other legislative or administrative authority from any local, state or national governmental or private entity or organization have been or can be obtained or renewed for any use on which the value estimate contained in this report is based.

13. It is assumed that the utilization of the land improvements is within the boundaries or property lines of the property described, and that there is no encroachment or trespass unless noted within the report.

14. The existence of potentially hazardous material and/or toxic waste used in the construction or maintenance of the improvements, which may or may not be present, was not observed by the appraisers. The appraisers do not have any knowledge of the existence of such materials in or on the property. We are, however, not qualified to detect such substances. The existence of asbestos, toxic waste or similar hazardous materials is likely to have an adverse affect on the value of the subject property. I recommend that the client retain an expert in this field, if desired.

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CERTIFICATE OF APPRAISAL

Premises: 1 & 5 North Road &, 243 E. Montauk Highway

We, John J. Breslin, Jr. and Kathy Leitman, certify to the best of our knowledge and belief:

THAT, the statements of fact contained in this report are true and correct;

THAT, the reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions, and are our personal, unbiased professional analyses, opinions and conclusions;

THAT, we have no present or prospective interest in the property that is the subject of this report, and we have no personal interest or bias with respect to the parties involved;

THAT, our compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result or the occurrence of a subsequent event;

THAT, this appraisal was not based on a requested minimum valuation, a specific valuation or the approval of a loan, or any other condition;

`THAT, the analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Ethics and Standards of Professional Appraisal Practice of the organizations with which we are affiliated;

THAT, the use of this report is subject to the requirements of the relating to review by its duly authorized representatives;

THAT, Kathy Leitman inspected the exterior of the property that is the subject of this report, and no other person provided professional assistance to us;

DATE: March 10, 2014

John J. Breslin, Jr. Kathy Leitman President Associate Appraiser Certified General Real Estate Appraiser NYS Real Estate Appraiser New York Certificate #46000013641 New York Certificate #48000048794

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JOHN J. BRESLIN, JR. QUALIFICATIONS EXPERIENCE Certified General Real Estate Appraiser, NYS License #46000013641; Licensed Real Estate Broker President - Breslin Appraisal Co. - a full service real estate company involved in the appraisal of all types of property in addition to sales, management, leasing, mortgaging, and consulting work. Attorney - Licensed to practice Law in the State of New York Former Assessor Village of Ocean Beach. EDUCATION J.D., St. John’s University Law School B.B.A., Siena College, Loundonville, N.Y. Major - Accounting Society of Real Estate Appraisers, Course 101; Independent Fee Appraisers, Course 101 Various seminars, lectures, conferences on real estate appraising. Requisite courses for licensing, G-1, G-2, G-3, E/S. Long Island Real Estate Board, Broker’s Course Long Island Builder’s Institute, Fundamentals of Home Building. PROFESSIONAL SOCIETIES Member, Long Island Board of Realtors Member, Long Island Board of Realtors, Appraisal Division Member, New York State Bar Member, Suffolk County Bar Association Member, Columbia Society of Real Estate Appraisers, Inc. Member, American Society of Appraisers GENERAL Engaged in all forms of real property appraising including residential, commercial, industrial, and special purposes. Lecturer Suffolk County Bar Association on Zoning and Land Use Guest Lecturer Touro Law School on Zoning and Land Use TESTIMONY Recognized as expert, Town of Huntington Zoning & Town Boards and Planning Boards Recognized as expert, Supreme Court, Nassau and Suffolk Counties Recognized as expert, Town of Brookhaven Zoning Board, Town Board and Planning Board Recognized as expert, Town of Islip Zoning Board and Planning Board Recognized as expert, Village of Asharoken Recognized as expert, Village of Rockville Centre Recognized as expert, Town of Smithtown Zoning Board, Planning Board, Town Board Recognized as expert, Town of Hempstead and North Hempstead Zoning Board, Town Board Recognized as expert, Town of Oyster Bay Town Board, ZBA Recognized as expert, Federal Court Recognized as expert, U.S. Bankruptcy Court Recognized as expert, Nassau and Suffolk Surrogates Court Recognized as expert, Town of Southold Recognized as expert, Town of Riverhead Recognized as expert, Village of Laurel Hollow Recognized as expert, Town of Oyster Bay Recognized as expert, Village of Cove Neck Recognized as expert, Town of East Hampton Recognized as expert, Town of Southampton Recognized as expert, Village of Muttontown Recognized as expert, Village of Brookville Recognized as expert, Village of Lynbrook Recognized as expert, Village of Malverne Recognized as expert, Village of Valley Stream

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Kathy Leitman Qualifications

Professional Accreditation Appraisal Institute, General Associate Member N.Y.S. Licensed Real Estate Appraiser, #48000048794 Certified Buyer Representative N.Y.S. Licensed Real Estate Sales Person, #40LE1175388 New York Association of Realtors, Member #641618501

Professional Education General Appraiser Sales Comparison Approach Appraising for Alternative Uses: Life Beyond Lending Analyzing Real Estate in Distressed Markets Analyzing Distressed Real Estate Certified Buyer Representative Course N.Y.S. Real Estate Salesperson Course Case Studies in Real Estate Valuation, 2-1 Capitalization Theory & Techniques Part B (2), 1BB, 1B2 Capitalization Theory & Techniques Part A (1), 1BA, 1B1 Applied Residential Property Valuation, 102 An Introduction to Appraising Real Estate, 101 Standards of Professional Practice, Part A Appraiser Qualifications I, AQ1 Standards of Professional Appraisal Practice, Part - A HP12C, applications in

Professional Experience Breslin Appraisal Co., Inc. Commercial Staff Appraiser Frank Ciotta & Associates Residential Staff Appraiser Coach Real Estate Associates, Inc. Real Estate Sales Associate Legal Assistant, Zavatsky Mendelson and Levy Residential Real Estate Commercial Appraiser, Goodman Marks Associates, Inc. Commercial Appraiser Assistant Senior Staff Appraiser, Greenpoint Savings Bank Residential Appraisal Reporting. Independent Fee Appraiser Residential Appraisal Reporting Secondary Market Consultant/Underwriter, American Assignment Services Due diligence review for secondary market consulting firm Chemical Bank Mortgage Department Mortgage specialist Chemical Bank Mortgage Center Real Estate Salesperson, Mint Funding/ Mint properties Residential sales and rentals Mortgage sales, underwriting and processing. Real Estate Salesperson, V.J. Novack Realty rentals and cooperative sales in Central Queens

File #: R-14-4321 Breslin Appraisal Co., Inc.