Item 10 - Recieve and File the Washington Park Feasibility Study

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Exposure Time Exposure time is the amount of time necessary to expose a property in the open market to achieve a sale at the "as is" value conclusion, as of the date of the "as is" value. A reasonable exposure time for the entire subject property is estimated to be between 6 and 12 months. File Information As previously stated, this is a Restricted Appraisal Report; therefore, details of the comparable sales and the valuation analyses that have not been included in this report have been retained in the appraiser's work files. xiii. State the use of the real estate existing as of the effective date and the use of the real estate reflected in the appraisal; The subject property is a generally level vacant site with perimeter fencing around APNs 405-321-08, -09, and -13. APN 405-321-12 is improved with a single-family residence with a detached garage. xiv. When an opinion of the highest and best use was developed by the appraiser, state that opinion; The conclusion of the highest and best use is based on consideration of those uses that are physically possible, legally permitted, and financially feasible. It is further limited by the use or uses that are maximally productive. After considering these factors, the highest and best use of the vacant portion of the subject property (APNs 405-321-08, -09 and -13) is to be developed with a single-family residential subdivision. The highest and best use of APN 405-321-12 is as improved. xv. Clearly and conspicuously: State all extraordinary assumptions and hypothetical conditions; and State that their use might have affected the assigned results; and The value conclusion is subject to the following hypothetical condition that may affect assignment results: None Hypothetical conditions are contrary to known facts about the physical, legal, or economic characteristics of the subject property; or about conditions external to the property, such as market conditions or trends; or about the integrity of data used in an analysis. The value conclusion is subject to the following extraordinary assumption that may affect assignment results: None. An extraordinary assumption is uncertain information accepted as fact. If an extraordinary assumption is found to be false as of the effective date of the appraisal, I reserve the right to modify my value conclusions. City of Santa Ana Washington Square Property, Santa Ana Date of Value: February 8, 2024 6 Page 38