Appraisal Report Bend Municipal Airport | Bend, OR 97701 as of April 2, 2020 Prepared for Prepared by Kidder Mathews Valuation Advisory Services City of Bend David Chudzik, Ph.D., MAI, CRE 601 Union Street, Suite 4720 Ms. Teresa Briggs Seattle, WA 98101 Senior Management Analyst 206.205.0222 l Fax 206.205.0220 City of Bend
[email protected] KM Job A20-0318 kidder.com May 29, 2020 Ms. Teresa Briggs Senior Management Analyst City of Bend PO Box 68727 Bend, OR RE: Bend Municipal Airport 63136 Powell Butte Highway Bend, OR 97701 Dear Ms. Briggs: At your request, we have prepared a market rent appraisal of various leased premises at Bend Municipal Airport which is described in the attached report. We have inspected the subject property and obtained data regarding other similar real estate in the area and from similar airport properties in Oregon and Washington. This report has been prepared in conformance with the current Uniform Standards of Professional Appraisal Practice (USPAP), as formulated by the Appraisal Foundation. In addition, our services comply with and are subject to the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute. In this appraisal, a determination of market rent is made for a variety of leased premises including unimproved and improved land, T-hangars, box hangars, storage areas, tie-downs, office, café and parking areas at the Bend Municipal Airport. The intended use of this appraisal is to assist the intended user, the City of Bend, in setting rent for these premises at the subject. This report may not be suitable for other uses.