FEASIBILITY STUDY Proposed Hotel 910 NORTH MAIN STREET LAKEPORT, CALIFORNIA SUBMITTED TO:PR OPOSED PREPARED BY: Ms. Margaret Silveira HVS Consulting & Valuation City of Lakeport Division of TS Worldwide, LLC 225 Park Street 413 South Howes Street Lakeport, California, 95453 Fort Collins, Colorado, 80521 +1 (707) 263-5615 ext. 32 +1 (720) 877-1376 June-2017 June 16, 2017 Ms. Margaret Silveira City of Lakeport 225 Park Street Lakeport, California, 95453 HVS DENVER 413 South Howes Street Re: Proposed Hotel Fort Collins, Colorado, 80521 Lakeport, California +1 (720) 877-1376 HVS Reference: 2017020630 +1 (415) 896-0516 FAX www.hvs.com Dear Ms. Silveira: Pursuant to your request, we herewith submit our feasibility study pertaining to the above-captioned property. We have inspected the real estate and analyzed the hotel market conditions in the Lakeport, California area. We have studied the proposed project, and the results of our fieldwork and analysis are presented in this report. We have also reviewed the proposed improvements for this site. Our report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP), as provided by the Appraisal Foundation. We hereby certify that we have no undisclosed interest in the property, and our employment and compensation are not contingent upon our findings. This study is subject to the comments made throughout this report and to all assumptions and limiting conditions set forth herein. Sincerely, TS Worldwide, LLC Brett E. Russell, Managing Director, Senior Partner
[email protected], +1 (720) 877-1376 State Appraiser License (CA) 3003666 Matthew D. Melville, Vice President State Appraiser License (CA) 3003361 Superior results through unrivaled hospitality intelligence.