APPRAISAL OF FORMER AUDUBON SCHOOL/ CARROLLTON COURTHOUSE PROPERTY 719 SOUTH CARROLLTON AVENUE NEW ORLEANS, LOUISIANA70118 FOR MR. LESLIE J. REY EXECUTIVE DIRECTOR PURCHASING/ANCILLARY SERVICES & TRANSPORTATION 3520 GENERAL DE GAULLE DRIVE 5TH FLOOR, ROOM 5078 NEW ORLEANS, LOUISIANA 70053 BY HENRY W. TATJE, III ARGOTE, DERBES & TATJE, LLC REPORT DATE 512 N. CAUSEWAY BLVD NOVEMBER 28, 2016 METAIRIE, LA 70001 504.830.3864 DIRECT LINE OUR FILE NUMBER 504.830.3870 FAX 16-296.003 ARGOTE, DERBES & TATJE, LLC. REAL ESTATE APPRAISAL & COUNSELING 512 N. Causeway Boulevard Metairie, Louisiana 70001 Direct Line: (504) 830-3864 Email:
[email protected] November 28, 2016 Our File No. 16-0296.003 Mr. Leslie J. Rey Executive Director Purchasing/Ancillary Services & Transportation 3520 General De Gaulle Drive 5th Floor, Room 5078 New Orleans, Louisiana 70114 RE: Appraisal of Former Audubon School/Carrollton Courthouse Property 719 South Carrollton Avenue New Orleans, Louisiana 70118 Owner: Orleans Parish School Board Dear Mr. Rey: In accordance with your request, I have prepared a real property appraisal of the above-referenced property, presented in a summary appraisal report format. This appraisal report sets forth the most pertinent data gathered, the techniques employed, and the reasoning leading to my opinion of the current market value of the Unencumbered Fee Simple Interest in and to the appraised property in current “As Is Condition”. Market Value, as used herein, is defined as: "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 and knowledgeably, and assuming the price is not affected by undue stimulus." The property rights appraised is the Unencumbered Fee Simple Interest which is defined as: “an absolute fee; a fee without limitations to any particular class of heirs or restrictions, but subject to the limitations of eminent domain, escheat, police power, and taxation.