MARKET STUDY Proposed Hotel @ 63rd and Prospect Avenue 63RD STREET & PROSPECT AVENUE KANSAS CITY, MISSOURI SUBMITTED TO:PR OPOSED PREPARED BY: Mr. Jeffrey Williams HVS Consulting & Valuation City of Kansas City Division of TS Worldwide, LLC 414 East 12th Street, 16th Floor 33972 North Oak Drive Kansas City, Kansas, 64106 Pequot Lakes, Minnesota, 59472 816-513-2890 +1 (303) 588-6558 January-2016 January 12, 2016 Mr. Jeffrey Williams City of Kansas City 414 East 12th Street, 16th Floor Kansas City, Kansas, 64106 HVS MINNEAPOLIS Re: Proposed Hotel @ 63rd and Prospect Avenue 33972 North Oak Drive Pequot Lakes, Minnesota, 59472 Kansas City, Missouri +1 (303) 588-6558 HVS Reference: 2015021744 +1 (970) 493-2919 FAX www.hvs.com Dear Mr. Williams: Pursuant to your request, we herewith submit our market study pertaining to the above-captioned property. We have inspected the real estate and analyzed the hotel market conditions in the Kansas City, Missouri 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 Sara E. Olson, Vice President
[email protected], +1 (402) 690-0407 Tanya J.