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In preparing each comprehensive appraisal, Consultant will: inspect the <br />business' facility; prepare an inventory of the improvements pertaining to the <br />realty and major movable equipment; coordinate appraisal activities with the real <br />estate appraiser to avoid duplication of compensation; interview the business' <br />owner /manager regarding the business' history, operations and tangible assets <br />owned; and utilize generally accepted valuation methodology to determine the <br />fair market value in place and liquidation value of the appropriate items owned by <br />the business. <br />Furniture, Fixtures and Equipment Appraisals tasks may include: <br />• Inspect the business facility. <br />• Prepare separate inventories for the Fixtures & Immovable Equipment and <br />Movable Personal Property. <br />• Coordinate appraisal activities with the real estate appraiser to avoid duplication <br />of compensation <br />• Interview the business owner regarding the history, operation and tangible assets <br />owned. <br />• Prepare and deliver to the City Attorney, a report utilizing accepted valuation <br />methodology to estimate the replacement cost new, fair market value in place <br />and salvage value of the appropriate items owned by each business operation. <br />BUSINESS GOODWILL APPRAISAL SERVICES includes: <br />• Budgetary Estimates of Goodwill Loss <br />Budgetary estimates are used by public agencies in planning and preparing a <br />project budget. Consultant's estimate of goodwill loss will be based upon a "drive <br />by" site inspection of the subject business, limited market research, and any <br />publicly available data. In addition, these estimates will be based on <br />Consultant's experience in preparing goodwill loss appraisals of comparable <br />businesses, as well as relevant statutes and case law, negotiated settlements <br />and jury awards in eminent domain proceedings. Consultant's results will be <br />presented in a brief letter to the City Attorney. <br />• Goodwill Loss Acquisition Appraisals <br />During the early stages of property acquisition, Consultant may provide <br />preliminary estimates of goodwill loss. Acquisition appraisals are based upon <br />data, which may be provided by the business' ownership. Such information may <br />include: leases; background on the business provided via owner /management <br />interviews; historical and prospective financial data; and information about <br />proposed relocation sites. In addition, Consultant shall perform basic <br />transactional research in light of Consultant's understanding of the business' <br />operations and financial condition. Consultant will coordinate with real estate <br />and FF &E appraisers to avoid duplication of compensation. Consultant's <br />analyses will be guided by relevant statutory and case law pertaining to <br />compensation for loss of goodwill. <br />25F -103 <br />