RIVERTOWN LELAND PUD PREPARED FOR: CHET JANIK, COUNTY ADMINISTRATOR LEELANAU COUNTY 8527 EAST GOVERNMENT CENTER DRIVE, SUITE 101 SUTTONS BAY, MICHIGAN 49682 PROPERTY IDENTIFICATION: RIVERTOWN LELAND PUD LELAND TOWNSHIP, LEELANAU COUNTY MICHIGAN OWNER OF RECORD: LEELANAU COUNTY BROWNFIELD REDEVELOPMENT AUTHORITY INTEREST APPRAISED: FEE SIMPLE ESTATE DATE OF APPRAISAL: DECEMBER 4, 2013 PROPERTY INSPECTION DATE: DECEMBER 4, 2013 TYPE OF REPORT: SUMMARY APPRAISAL REPORT APPRAISERS: WILLIAM MUHA MICHAEL TARNOW, MAI, SRA NORTHERN MICHIGAN REAL ESTATE CONSULTANTS 413 NORTH DIVISION STREET TRAVERSE CITY, MICHIGAN 49684 PHONE: 231-941-1001
[email protected] [email protected] Grand, Rivertown Leland, Leelanau Co, 12-13 Page 1 NORTHERN MICHIGAN REAL ESTATE CONSULTANTS 413 N. Division Street, Traverse City, Michigan 49684 (231) 941-1001 Fax (231) 941-5334 Website: nmrec.com December 4, 2013 Chet Janik, County Administrator Leelanau County 8527 E. Government Center Drive, Suite 101 Suttons Bay, Michigan 49682 RE: The appraisal of Rivertown Leland PUD, a 24 unit development plus the site adjacent to the fire station, Leland Township, Leelanau County, Michigan Dear Mr. Janik; The following appraisal report has been prepared in accordance with your request for an estimate of the market value of the fee simple title to the above captioned real property. William Muha personally inspected the property and has made a careful and detailed analysis of factors pertinent to the estimate of value. We have provided professional services regarding the subject, within the last three years. This is a Summary Appraisal Report prepared under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice, Appraisal Standards Board of the Appraisal Foundation, effective as of the date of this appraisal.