TRDHD Invitation to Bid BID PACKET Sale of Real Estate (Formerly TRDHD District Office) Section I - Information for Bidders The Three Rivers District Health Department (TRDHD) is seeking sealed bids for the sale of real estate located at 510 South Main Street, Owenton, Kentucky 40359. The property is currently owned and deeded to the TRDHD and is being sold as-is. 1. Receipt and Opening of Bids: Completed bids for the REAL ESTATE may be submitted to TRDHD, 1005 HWY 22 East, Owenton, Kentucky 40359, until Monday, March 8, 2021 at 2:00pm EST, at which time and place the bids will be opened and read aloud. All bids must be marked “REAL ESTATE BID – SEALED.” Facsimile/electronic bids will not be considered. Any bid may be withdrawn prior to the above scheduled time for the opening of bids or authorized postponement thereof. Late bids will not be accepted and will be returned unopened to the vendor. 2. Pre-Bid Examination of Real Estate: Interested parties may examine the real estate by appointment. Call Justin Pittman at 502-682-0294. 3. AS-IS: The property is being sold AS-IS. Seller makes no representations or warranties concerning the condition of the property, including but not limited to mechanical systems, foundation, structural, or compliance with code, zoning or building requirements and will make no repairs to the property after execution of the sale. Purchaser understands that Seller does not guarantee or warrant that the property is free of visible or hidden structural defects, termite damage, lead-based paint, contaminated soil, or any other condition that may render the property uninhabitable or otherwise unusable. Seller is in possession of, and relying on Phase I and Phase II Environmental Site Assessments (can be made available) performed by Evergreen Environmental Engineers that any environmental issues have been abated. Purchaser acknowledges responsibility for taking such action as is believed necessary to satisfy acceptance of the property’s condition, and of laws, regulations and ordinances affecting the property, and agrees to accept the property in the condition existing on the date of the contract. 4. Bid Form: Bids must be submitted on the proscribed form provided herein (Section IV). Successful bidder will be entirely responsible for all costs associated with acquiring the real estate including, but not limited to, closing costs, title searches, taxes, lenders fees, points and recording fees. The bid price SHALL NOT include any of these associated costs. All bids must be signed. TRDHD has an unadvertised reserve that will not be divulged. It is the intent of TRDHD to sell the real estate to the highest bidder, however, TRDHD reserves the right to waive any informality, irregularity, or defect in any proposal, and to reject any or all bids should it be in the best interest of TRDHD to do so. 5. Terms of Payment: The successful bidder(s) are responsible to make payment for property purchased within 30 days after notification of award. Payment shall be in the form of cash or certified check. All checks must be made payable to Three Rivers District Health Department. Specific payment instructions will be included with Notice of Award. 6. Sales Tax: TRDHD is a sales tax-exempt organization and is not required to collect sales tax on this transaction. However, this is a sale of tangible property and the transaction may be a taxable event for TRDHD Invitation to Bid the buyer. It is the buyer’s sole responsibility to determine through the Kentucky Department of Revenue if sales tax is due. 7. Questions: All questions should be directed to Georgia Heise at [email protected] or 502-330- 2670. Section II – Real Estate Description Owen County Clerk Description: PVA Parcel Number 061.30-042 Book 211, Page 146 Address: 510 South Main Street, Owenton, Kentucky 40359 Lying and being in the City of Owenton, Owen County, Kentucky, on the South side of Kentucky Route #22 at the intersection of US HWY 127. Being a portion of the same property conveyed to FLD, LLC, from Owen Electric Cooperative, Inc., by Deed dated May 13, 2004, or record in Deed Book 210, Page 230, in the Office of the Owen County Court Clerk. Other details: The real estate consists of one parcel of land (approximately 1.0340 acres), one main building and two small outbuildings. Building A – 11,750 square feet structure constructed of concrete. The majority of this structure is finished as office space. Building B – small storage building constructed of concrete block. Building C – three walled open wooden structure. 2016 property assessment (Section V – Appraisal) values the real estate (land and three structures) in total at $410,000. TRDHD Invitation to Bid Section IV – Bid Form To: Three Rivers District Health Department Submitted by: Business Name: ______________________________________________________________________ First and Last Name: __________________________________________________________________ E-mail: _____________________________________________________________________________ Address: ____________________________________________________________________________ City: _______________________________________ State: ___________ Zip: ____________ Phone: _____________________________________________________________________________ Federal ID or SSN: ____________________________________________________________________ The undersigned, having thoroughly reviewed the Information for Bidders and having examined the property locate at 510 South Main Street, Owenton, Kentucky 40359, in its current condition, do hereby propose to purchase the above designated for the sum of: $_____________________________ printed _______________________________________dollars _____________________________________________________________________________________ Signature Date Section V - Appraisal RESTRICTED APPRAISAL REPORT Professional Office Building 510 S. Main Street Owenton, Kentucky Three Rivers District Health Department Attention: Justin Pittman 510 S. Main Street Owenton, Kentucky 40359 GALLOWAY APPRAISAL RONNIE L. GALLOWAY, MAI 2525 NELSON MILLER PARKWAY SUITE 101 LOUISVILLE, KENTUCKY 40223 GALLOWAY APPRAISAL Offices Located In: Real Estate Counselors & Appraisers Louisville, KY Lexington, KY -- Since 1969 -- April 27, 2016 Three Rivers District Health Department Attn.: Justin Pittman 510 S. Main Street Owenton, Kentucky 40359 Re: Professional Office Building 510 S. Main Street Property Valuation Administration (PVA) Parcel Number 061.30-042 Deed Book 211, Page 146 Owenton, Owen County, Kentucky Dear Mr. Pittman: As requested, we have personally inspected the site and prepared a Restricted appraisal of the existing office building and 1.034 acre site located at 510 S. Main Street in Owenton, Owen County, Kentucky. The purpose of the appraisal was to conclude an “as is” opinion of market value of the property described herein, based on market conditions on April 5, 2016, the inspection date. This report is intended for use only by Three Rivers District Health Department (Attention: Mr. Justin Pittman) to serve as a benchmark in decisions involving an estimate of market value for internal purposes. This report is not intended for any other use or by others than the client. The scope of work is for a physical site visit and the development of a narrative appraisal using information from owners and public records. Scope is for sales comparison approach supported by an inferred market analysis and Highest and Best Use analysis from neighborhood observations. This restricted appraisal report is intended to comply with the reporting requirements set forth under Standards Rule 2-2 (b) of the Uniform Standards of Professional Appraisal Practice. As such, it does not include discussions of the data, reasoning, and analyses that were used in the appraisal process to develop the opinion of value. Additional supporting documentation concerning the data, reasoning, and analyses is retained in the file. In preparing this appraisal, we have considered the three approaches to value, and have determined that the Sales Comparison Approach is the most appropriate method of estimating the market value of the subject property. PRINCIPAL OFFICE 2525 Nelson Miller Parkway Suite 101 Louisville, Kentucky 40223 (502) 589-4976 FAX (502) 585-3778 The Cost Approach is not applicable to this assignment due to the older age of the improvement on the property. Also, the current economic downturn and market conditions have created economic obsolescence due to rising construction costs outpacing market expectations. Therefore, the cost approach is not performed due to the subjective economic obsolescence factor needed which creates an unreliable approach to value. The subject property has been an owner-occupied office building in recent years, and has no recent lease history; therefore, the income approach to value has been omitted due to insufficient data. As a result, the Sales Comparison Approach is the only approach utilized to determine the estimated market value of the subject property. Taking into consideration all of the pertinent factors which affect value, it is the recommendation of this report that the fee simple market value of the subject property is as follows: “As Is” as of April 5, 2016, the inspection date * * * FOUR HUNDRED TEN THOUSAND DOLLARS * * * ($410,000) No personal property, fixtures, or intangible items were included within the value. Sincerely, Ronnie L. Galloway, MAI Ronald N. Allen Kentucky Certified General Appraiser #000002 Executive Summary