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C150320 Feasibility Study
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C150320 Feasibility Study
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Last modified
2/24/2015 11:20:23 AM
Creation date
2/26/2014 11:42:52 AM
Metadata
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Template:
Loan Projects
Contract/PO #
CT2015-049
C150320
Contractor Name
Thunderbird Water and Sanitation District
Contract Type
Loan
Water District
8
County
Douglas
Loan Projects - Doc Type
Feasibility Study
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Ground Water Rights Appraisal <br />Page 2 of 8 <br /> <br />March – 2011 – Project #1151TWD03 <br />© Leonard Rice Engineers, Inc. <br />2.0 PURPOSE OF THE APPRAISAL <br />The purpose of the appraisal is to estimate the market value, a s of March 14, 2011, of decreed <br />Denver Basin ground water rights . The associated well sites and easements are not included in this <br />appraisal. Market value, as use d herein, is defined as follows : <br />Market value means the most probable price which a property should bring to a competitive open <br />market under conditions requisite to a fair sale, the buyer and seller each acting prudently and <br />knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are <br />the consummation of a sale as of a specified date and the passing of title from seller to buyer under <br />conditions whereby: <br />Buyer and seller are typically motivated; <br />Both parties are well informed or well advised and acting in what they consider their own best interest; <br />A reasonable time is allowed for exposure to open market; <br />Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable <br />thereto; and <br />The price represents the normal consideration for the property sold unaffected by special or creative <br />financing or sales concessions granted by anyone associated with the sales. (Title XI of the Financial <br />Institutions Reform Recovery, and Enforcement Act (FIRREA) of 1989) <br />3.0 EXPOSURE TIME <br />Exposure time is defined as: <br />The estimated length of time the property interest being appraised would have been offered on the <br />market prior to the hypothetical consummation of a sale at market value on the effective date of the <br />appraisal; a retrospective opinion based on an analysis of past events assuming a competitive and open <br />market. <br />Based on our experience with ground water rights, it is our opi nion the estimated exposure time is <br />24 months for the subject ground water rights. <br />4.0 INTENDED USERS AND INTENDED USE OF THE REPORT <br />The intended user is TWSD. The intended use of the report is t o assist TWSD in determining a fair <br />market price of the ground water rights for use in loan applica tions. <br />
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