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i - LLAHIDIT July 12, 2007 William K. DeBraal, Esquire Assistant County Attorney Indian River County 1840 2e Street Vero Beach, FL 32960-3328 RE: Indian Rived66ih Avenue (SR 60 to CR 510) Parcel 137 Stanley W. Kahn and Shirley Kahn, Owners 8325 6& Avenue, Vero Beach, FL 32967 Dear Attorney DeBraal: As we discussed last week, All Real Estate Appraisals is pleased to provide appraisal services for Indian River County, In the above referenced appraisal assignment, we recommend a before and after analysis of the property. The purpose of this analysis is to test the potential for a loss of value associated with a loss of yard utility resulting from the proposed right of way acquisition. According to a survey provided by Mr. Kahn, the primary residential improvements are situated 96.57 feet from the existing right of way. According to the information provided by the County, the proposed right of way will be between 65 to 70 feet from the improvements. This loss of yard area and reduced improvement setback may have an adverse impact upon the remainder, representing a severance damage. The before and after analysis proposed for this property would address this potential, quantifying any damages associated with this loss of yard area. This severance would become part of the recommended compensation, along with estimated market value for the land and improvements being acquired and any costs to cure appropriate for the remainder. This type of analysis is typical for residential properties influenced by relatively deep right of way acquisitions, such as the one affecting the subject Also as we discussed, it would be helpful for the County to arrange a field staking of the proposed right of way line, along with an engineer's opinion of the distance between the new right of way line and the primary residential improvements. Since the Kahn survey uses the distance from the improvement to the existing right of way, the County's data could reflect a similar measurement—to the new right of way line. Alternatively, we would ask the County's engineer to provide data relating to the distance from the existing improvements to the existing and proposed edge of pavement. The distance would represent the shortest distance from the improvements to the right of way line or edge of pavement. This distance data is critical to application of the loss of yard utility study required to analyze any potential severance damages to the remainder. It is my understanding we would coordinate with the County with respect to the timing of the field surveying so the surveying markers would be "fresh" upon our site visit. A tentative timetable would consider a site visit during the first week in August 2007. Appraisers ♦ Consultants ♦ Realtors® 1010 Executive Center Drive, Suite 132 Orlando, Florida 32803 Phone: 407.895.9999 Fax: 407.895.9998