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Home My Public Portal AboutFY16 Airport Fees Work Session City of McCall Airport Fees Work Session August 25,2016 1 Overview l '�-- Why are we talking Airport fees? • Hangar Owner Perception • Hangar sales impact • Airport Budget • 5 year CIP • Airport Fees • Hangar Lease Rate • New Fees • Life Flight 2 Why are we talking Airport Fees? • Hangar owner perception /(D • Pay Property Tax on Hangar AMt tri d0 . , • Lease Payment Landing Fees �3, 0D i C-mss 4-,, 44 • Fuel Flowage .41)( �( oki-r ' g • Community Benefit .e+sr�o��.�:� jobs c'oea2- D.A905e,4.50.vai 041 Sc., Suh,' 4_02 rt,e d rf 7(o 1,3vo ked Ecotoe 3 City of McCall 2016 Annual Report 2016 to Review f. Performance< � Our Finances McCAL L - E riE•: [,.ATEWAY "Ft) 11)A lit k'S BA(.k( ()L"'FRY 5 Looking Forward ": 2016 in Review McCall's Airport is a noteworthy asset to the City and Region. Revenue The Mission of the sources for the Airport include the United States Forest Service, land Airport is to provide • leases, County Airport Levy, McCall personal property tax, fee revenue to a place for airplanes to include landing and tie down fees, fuel flowage fees, aircraft parking fees, operate by providing and car rental fees. aviation infra-structu �a. In 2016, the City, in conjunction with the Airport Advisory Committee including runways. (AAC), completed an update to its regulatory framework and fee structure taxiways and aircraft by reviewing airport minimum standards and airport rules and regulations. parking aprons, maintain compliance Additionally, the airport made significant strides in updating its snow with FAA Regulations removal fleet. In addition to purchasing a 1990 Stewart Stevenson Rolba and Standards, snow blower, the airport initiated a Federal Aviation Administration (FAA) administer a viable grant funded project to replace the airport's aging Idaho Norland snow hangar land lease plow. The new plow should arrive in April of 2017. program, and to stay in The airport continued to pursue acquisition of land adjacent to the airport compliance with FAA for relocation of its parallel taxiway. Completing land acquisition will Grant Assurances. remain a top priority in 2017. Selected Statistics 2016 Airport Acreage 224.78 acres Hangar Doors/Tie Downs 87/104+ Typical Aug Traffic Wed 17, 94/20/18 , :. Total/USFS/Commercial Sat 20, 103/30/16 ''° AcCall Lease Addresses 37 of 76 LOT Funds for 2017 $30,000 1 � 5 A Performance Report City of McCall Selected Project Progression ,N R ice()RT 2016 Community `ts How We Have Progressed • Airport Commercial Tenants Enabled: 1. A Finding of No Significant Impact (FONSI)was signed by the Over 1715 passengers Federal Aviation Administration (FAA) after completion of the transported (2 of 3 reporting) Environmental Assessment to relocate taxiway"A" in 2012. A 15 year round employees written offer for acquisition of land adjacent to the airport was 1341 Commercial flights est. provided to property owners in 2013. Landowners supplied a 31+ seasonal employees self-procured appraisal of the subject property. • USFS-Air Operations 2. In 2014 the Airport revised its appraisal and review appraisal 170 personnel @ peak 16 YrRd of property needed to relocate Taxiway A. The outcome of the 840 flights from MYL revised reports will be shared with landowners in early 2015. 64 Smokelumpers trained Discussions with landowners in pursuit of land acquisition 42 Fires supported continued in 2016, but no agreement was made. A court date 232.725 gallons retardant is set for Dec 2017 to determine property value. dropped 1,492 tours of Forest Service Where We Are Going in 2017 & Beyond facilities Life Flight 49 Fixed Wing Ops 1. Review hangar lease rates and airport fee structure in 2017 to • maximize sustainability of the airport. • Open House-approx. 500 attended • Capitol Christmas Tree 2. Reconstruction of General Aviation (GA) parking apron and taxiway surfaces, Land Purchase, Airport Master Plan Update, and Parallel Taxiway Relocation. 2016 Accomplishments New snow plow on order 3. Longer term projects include Ramp and Taxiway • Reconstruction, full development of leasable space. • Updated Airport Rules& Regulations • Updated Airport Minimum Standards i• s arm� ea 41, BlcycleS courtesy of the 4H'AVIATION ASSOCIATION • �'� Our Finances City of McCall Fiscal Year 2016 Al RPC7RT 2016 Airport investment Revenue by Source FY16 • Airport Hangars Produced: ,- • $163K in property taxes anger Lease,, across all taxing districts I F Contract � < • $793K of property taxes 5% Fuel T'ax&Otner Revenue $4,51 from airport hangars went to �L —_ the City of McCall 'McCall Property Tai. $73,903 • FY16 McCall property tax ( Valley Co. Airport Levy $15,600 investment was $78,903 Fee Revenue $48,401 • The production of property taxes from airport tenants 22 % Chart Total $353,499 offsets the property tax Ot � a ., . tate GrantRevenue investment of remainingail $2 ,689 community members ',tit EFT,interest) $64,559 0 Revenue Comparison 1ro� - otas Revenue I $443;747 • FY15 Revenue Change: • Hangar Leases +1% • USFS Contract+3% • Fee Revenue–23% Expense by Category • McCall Property Tax-1% Airport Fund tats 9% FY16 • The unaudited FY16 Airport s. Fund Balance, beyond the , '> ' W nW I'' g.. minimum reserve amount of 18% .36% $75,000, is approx. $447,319 �� cretin 5;043 • The current amount in airport Capital Expense $60760 fund balance, and much more, .m: is critical to matching FAA AIP � Inter-Fund Transfers $41,645 ° grants in upcoming years "; AIP Expenses $30,003 12%1 e` Total $343,252 25% !IIIL .,. 3 Looking Forward •Rz.u;... City of McCall What's Next: Projects & Challenges AIRPORT We want to FAA Airport Improvement Program Overview The McCall Municipal Airport Capital Improvement Plan (CIP) has five hear from you ! major projects in the near future which will be funded through the Airport Improvement Program (AIP) and various grants. As a reminder Jay Scherer FAA AIP currently requires a 10% grant match for eligible airports. Airport Manager Currently, it is anticipated that the State of Idaho, Division of (208)634-1488 Aeronautics, will provide a 2.5% match of the total grant amount in the Nathan Coyle form of reimbursement leaving the City with an initial grant match City Manager amount of 10% and a final grant match amount of 7.5% after (208) 634-1003 reimbursement by the State. City of McCall 216 East Park St McCall, ID 83638 Upcoming Grant Match Funding Requirements www.mccall.id.us Airport Advisory Committee 10% 7.5% 2.5% Planned AIP Projects (2017-2019) Match Match Match Dan Scott Rick Fereday FY 17 Ramp Rehabilitation $100,000 $75,000 $25,000 Mike Weiss Matthew Shaddle FY 18 Land Acquisition Phase 1: $3.5M $350,000 $262,500 $87,500 Mark Thorien FY 18 Land Acquisition Phase 2: $3.5M $350,000 $262,500 $87,500 20'17 Airport Staffing FY 18 Update Airport Master Plan $25,000 $18,750 $6,250 Jay Scherer—Airport Manager FY 19 Relocate Taxiway/Apron Replace- Jerry Bisom—Airport Ops & ment: $4M $400,000 $300,000 $100,000 Maintenance Mark Bunker—Seasonal Total Match $1,225,000 $918,750 $306,250 Equipment Operator Note: Land acquisition as depicted above assumes execution of maxi- mum allocated funds from the FAA, and is not related to estimated land value or estimated acquisition cost. 4 Alle4116,. '1,,**44;A: A Performance Report City of McCall Selected Project Progression AI H PORT 2015 Community How We Have Progressed • The Airport Enabled: 1. A Finding of No Significant Impact (FONSI)was signed by the • 44,000 total aircraft operations Federal Aviation Administration (FAA) after completion of the • $29.7M in economic impact Environmental Assessment to relocate taxiway"A" in 2012. A • Direct/Indirect support to 400+ written offer for acquisition of land adjacent to the airport was jobs provided to property owners in 2013. Landowners supplied a • Critical aeromedical transports self-procured appraisal of the subject property. 2015 Accomplishments iihet 2. In 2014 the Airport revised its appraisal and review appraisal of property needed to relocate Taxiway A. The outcome of the • Completed FAA Airport revised reports will be shared with landowners in early 2015. Improvement Project—executed $228K in maintenance/ 3. Discussions with landowners in pursuit of land acquisition will rehabilitation continue in 2016. 2016 Airport Staffing • Jay Scherer—Airport Manager Where We Are Going in 2016 & Beyond • Ben Gau—Airport Ops Superintendent 1. Review hangar lease rates and airport fee structure in 2016 to • Ryan Davis—Seasonal Equipment maximize sustainability of the airport. Operator 2. Taxiway relocation, replacement of General Aviation (GA) parking apron, and procurement of new snow removal equipment follows land purchase in future years. 3. Longer term projects include Pavement Maintenance, and an Update to the 2007 Airport Master Plan. -^ a4c� -� � 'iv t Why are we talking Airport Fees? • Hangar owner sales impact • Add Sales 523 - 2016 106A — 2016 602A - Pending 1-149e4A Il c l-ls-A tu/iv - ej/ill vS C--7r /a LL `!JJCAL 6-241le toe C(b41/ I4 (14-t4iJeI66 L.J eA tqldve- 1.9106, 72-PA r 2 Lis 10 Peiq I LLY► 4 .. . . 1 80 x 80* 6( .W x 16111)00r ' /popimiimenreimefte*".. . . Finished Interior 2 Full Baths Crew, Quarters MI c;,- 523781 4-<•, ';' 4 • ,,,,,,,," ',,,,L.• "e•-zo, '',' .VA4•434:',\I-*4-'4:''' '74t*-16.-k-z''.' $62 -.-, ii00 , , ,..... I- 6(y x 51' & 70' x 51* 5--;-‘,V x 16'1I & 60°W x 16"H Doors Finished Interior 2 Full Baths NII S,•-• 518098 5 ...; S. ' '' ..' . '.:e47 :•:, 70. 60'NA' x 18'11 Door MI S-7, 519875 $519.000 21-1 .44000 ,111suipr Finished Interior Full Bath at Kitchen ---. MI 's,t 431155 $395.000 ...1t..=,-,....:;;-..,, .1-'- '•)', ,. ,?. ,..:!-fr,;-.4..--.,-;:ii:74A:2,4f;',--i2•' --;,r-1:74' 60' x 50- Finished55'l.‘ \ 16'14 Door Interior Full Bath MI,S# 431131 $360,000 ,..,.._,....„:: ,.,,-,-.,-, .4,- , •„An, 60' \ 5() .s.5*\\* x 16"H Door Finished Interior 1/2 Bath MLS# 5 I t-)112 $''95.000 - • --,-...:--1...- ,. -.. ..,-.,--,zr, . . -- ----- - .: r.,-:::,,,,,,,,-7,:,•--.75,7' :,, IIIIIIIIIIIIIIII x , -12' .16' 41.\A' x 12.1-1 Door Finished Interior MI,S# 5221)13 . 111.111111111111111111.1111.11 $140.000 #562 ... , . McCall Real Estate Company kle(,‘If Nlieluel Anderson ' (208)634-6821 W, ,.1 I .l 101 1, lake St McCall. 11) 83638 McCall Hangar Sales Date Sold Unit# Comments Aug-08 2108 65'x 49'east facing, no interior improvements Sep-10 6018 60'x'48'north facing condominium,minimal improvements Dec-10 707 80'x 80'shop,crew quarters;distressed sale Jul-11 520 42'x 36'townhouse hangar Aug-11 533 42'x 36'townhouse hangar Apr-12 522 42'x 36'townhouse hangar May-13 540 42'x 36'townhouse hangar Aug-13 705 80'x 80' crew quarters Aug-14 704 50'x 55'south facing with interior cabinets, 1/2 bath Sep-13 544 42'x 36'townhouse hangar Sep-13 213 66'x 70'west facing,no interior improvements Sep-13 202 45'x 45'south facing,extensive shop,crew quarters Oct-13 601D 60'x 48' north facing condominium,no interior improvements Nov-13 554 42'x 36'townhouse hangar Nov-13 525 42'x 36'water leaks&damage, highly motivated seller Nov-13 601C 60'x 48'north facing condominium,no interior improvements Jul-14 701 50'X 50'east facing,large lot&plans for 100'clear span building Jun-14 554 42'x 36'townhouse hangar,private sale Sep-14 603A 50'x 50'north facing, no interior improvements Nov-14 523 42'x 36'townhouse hangar May-15 544 42'x 36'townhouse hangar Jul-15 526 42'x 36'townhouse hangar Jul-15 208A 80'x 80'west facing 1/2 duplex,epoxy floor, heat,lights,no plumbing Aug-15 541 42'x 36'townhouse hangar Sep-15 6038 50'x 50'north facing,no interior improvements 16-Mar 553 42'x 36'townhouse hangar,epoxy floor McCall Hangars Listed for Sale Date Listed 2012 500 60'x 60'southeast facing with 3/4 bath, painted interior 2012 204 60'x 50'west facing,3/4 bath,kitchen,painted interior 2013 602A 62'x 50'south facing,finished interior, 1/2 bath 2013 608A&B 130'x 51'south facing duplex,finished interior, 3/4 bath each side 2014 214 66'x 70'west facing,painted interior 2015 562 42'x 36'townhouse hangar 2016 207 80'x 80'west facing,3/4 bath,finished interior,hydronic heat Current Fees • See sheet 5 EXHIBIT F McCall Airport Fees Fee Schedule as of October 1,2007 Category CURRENT RATE Fuel Flowage Fees (per gallon) $0.08 Seasonal Tie-Down Rates(per month.)Season is for six months. 25%discount for paying season in advance. Single engine tie-down areas $50.00 Twin row $75.00 Jet row $200.00 Overnight Aircraft Parking(rates are per night) piston single&light piston twin (<6,000 lbs) $5.00 Parking Fees for>6,000 lbs start after 4 hours piston single&light piston twin (>6,000 lbs) $10.00 turbine-powered single/twin $10.00 jet< 12,500 lbs $30.00 jet>12,500 lbs $45.00 Existing Land Lease Rates bare ground $0.35 covered ground $0.35 Landing Fees(per 1000 pounds Cert. T/O wgt) <8,000 lbs. no charge >8,000 lbs.Tenant Aircraft $1.10 >8,000 lbs. Non Tenant $1.65 Category III and greater $2.75 all air ambulance and fire fighting aircraft no charge Hangar Waiting List(deposit) $500.00 Lease Transfer Fee Not to Exceed$1,000 (7, Proposed Fees Unchanged Except • Hangar Lease Rate • Add Vehicle Parking • Add Snow Removal • Remove Exclusion of Air Ambulance from Landing Fees FR) i0-rePaRr APJA616,8 i ttb,e� � 'S 6 r: Lease Rate Assessment �'— • Two Rate Studies byValbridge Property Advisors I Mountain States Appraisal and Consulting Inc. Y/M--) • Recommended Blended Rate = $.30/sq ft Out (4., v2016- P� g3-2`( Hangar Lease Rate �-- • Review of Comparables in Reports pp. 8- 15 -=-' • Review of Worst Case Scenarios • New Land Leases (annually,per sq. ft. base year 2018 adjusts annually effective October according the percentage increase of the Western Urban Consumer Price Index for the twelve calendar months prior and including the most recent month for which such an Index is available.) • Covered $.30 • Bare $.30 8 g n 010 K o cn n n n D o CD o 0) 0 OJ 0) < 0J n n o 1:1) ai• C o m C O " D p 5 ulnrri < O z � N O v C O z m o r- x x x x x x x x x GA Only to -1 A A N In N 0W 00 0 1--, W 1-, l0 N 4.44l0 0 0 W (JDl0 W W w Po ulation 00 0 �J F, 1-� �J J lD V p l0 1 Cr) V 00 00 0�, NJ v A bo o iD k, Snowfall V.• ) o r � u Co o W 00 Q1 00 1--, N O 1-k O -- W O o v Li' 0 0 0�0 o NJ Aircraft Operations z -< -< -< -< -< z Resort Area < < z -< Instrument Approach Avail { Fuel Avail z z Govt Tenant U � w rn -V)- Aircraft Overnight Parking rD 0 0o O 0 0 0 0 is, O O F., Ln Aw U, is 00 • Hangar Lease Rate Covered 0 o O o o 00 o 0 0 A wNJ U, U Hangar Lease Rate Uncovered 0 0 0 0 0 0 0 O o °; Fuel Flowage co ui C', Vehicle Parking NLn N e r O Cr) 0 ( o v, o fg� U w 0 o 33 o ° Tie Down Rental r: Vehicle Parking • Proposed Fees • $5 per day • $25 per month (airport user) • $50 per month (non-airport user) • I 0 spaces x $25 x 6 months = $ 1500 • $ 1000 Budgeted Revenue 9 (---- Airport Fees \ , N.,.._ • Vehicle Parking rpm t -.... ,..,._._ rl ' ( Ilir'. , . 1 x , 4 i.• , :i Ii 1 •••••• - i Ls • , 10 (II Snow Plowing • Proposed Fees • $.0 I sq foot recurring customer • $.0 I sq foot +$ 10 on demand before 9am • $.015 sq foot on demand • 6 hangars x $50 x I 0 storms = $3,000 • $3,000 Budgeted Revenue 3- 0 0 Sfr-tFD Is 6 A iki ov W/4"/„ Q2 6 kis / / y r /0 A /0 --o2.,,A,S k C, La.nedarS = (00 , Lc-U K WI-To o ,, 11 Airport Fees • Snow Plow _ , ., _ ,_ .0,...,_.11911 E i 1 11 ■ , , - i� ' ■ ■ � ' ( ,„,,,.txs . ,Y r.. ki, Mt a } 1 �" w 1 3,^1...' KM2 K x 1,1ll 47,,....,.... ___ moi. _ -•y 1 I_ . I 12 ,.. (.,,;:•:;,:...,„ Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY Subject 1 2 Airport Name McCall Municipal Airport Caldwell Industrial Airport Cascade Municipal Airport _ ... Address 336 Deinhard Lane 4814 E.Linden Street _ llg North Main Street City,State McCall,ID Caldwell,ID Cascade,ID TIE DOWN RATES Airport or FB0 Managed Airport Airport Airport Rate Division Aircraft type None None General Tie Down Rates Jet @$200/mo $3.40/day $60/mo Single Engine @$50/mo $16.98/mo No fee for short term stay Twin Engine @$75/mo Comment f,4 *-/ittee/62 WA ?klo. I•I() .412_4"Li () _ Discounts Seasonal Term May 1 to Nov.1 NA NA Seasonal Rate 25%discount for each category NA NA Annual None NA NA Tie Down Count Jet:5;Twin:8:Single:97 55(not broken down) 24 Annual Land Rents Blended or Split Blended Blended Blended Current Annual Land Rent Improved $0.35/SF $0.147/SF $0.25/SF Typical Term .._ _. ._._.. m 20 years 20 years 20 or 25 years Renewal Options four 5-year or two 10-year options 1 @ 20 years 1 @ 5 years Escalators Annual CPI escalators Annual CPI based escalators Annual CPI escalators Transfer Fee $1,000 or less(avg.$250+/-) None None Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Tenant controls Tenant controls Tenant controls If necessary,who pays to remove the hangar? Tenant required Tenant required Tenant to pay• Does the airport ever buy hangars? Not likely(budget constraints) Not likely(city doesn't want to) Not likely If purchased,how Is compensation determined? Via appraisal Compensation to be$1 NA Other questions Tenant snow removal--pald by tenant or airport? Tenant paid Tenant paid City pays Airport snow removal charge(if any)? NA NA None Fuel Flowage Fees 5.08/gallon None $0.04/gallon Source Nate Coyle,Airport Manager Kathy Schara,Admin.Secretary Ray Arnold,Manager ----------- --- — -- - Monet! 208 634-1488 208 459-9779 208 382-4844 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 8 I / Vaibridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ` AIRCRAFT TIE DOWN AND LAND RENT SURVEY PROPERTY ADVISORS AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY 3 4 5....................... AirportName Coeur d'Alene Airport/Pappy Driggs-Reed Memorial Airport Friedman Memorial Airport Boyington Field Address10375 S _ ensor Ave 253 Warbird Lane 1616 Airport Circle City,State Hayden,ID Driggs,ID Hailey,ID _ - TIEDOWN RATES _.___._.._...._.....—__ -_'-.-. ..._...........___.._..._._._...... Airport or FBO Managed Airport FBO _.. .—_. _. .._. - --- Airport&FBO Rate Division Weight Size Type _ ...or__ v ._. __.......... General Tie Down Rates 0 7,500 lbs.@$30/mo (Overall range provided only) Airport rates divided by Woe 7,501 40,000 lbs.@$240/mo Class 1 @$150/mo Single Engine @$495/yr. 40,001-80,000 lbs.@$360/mo Class 9 @$900/mo Single w/lights @$742.50/yr. 80,000+lbs.@$600/mo Single w/lights&power @$990/yr. Class 1=Cessna 150 or similar Twin @$706/yr. Class 9=65 or similar Twin w/lights @$742.50/yr. Twin with lights @ power @$990/yr. 9.2,756- FR BOates: X 7 Single @$15/night Twin @$38/night /,-4. Piston @$70/night Smaller jets @$115-$175/night 6:1(- Mid-sized jets @$175-$200/night1 ' _.. ii IX Large jets @$200-$400/night +' Comment ------ _.. savor., �'r c.r7�� e, Oa I, j All tie down agreements requi �1(� /� year lease agreement;Cancellation fee of$100;Sublease fee of$100 /� Discounts ................. ._____.._..._.. Seasonal Term - -- -------- _.__.... Quarter 3to 6month lease terms offered None Seasonal Rate 10%discount Class 1 at @$120/mo to Class 9 @ NA $720/mo Annual 20%discount NA Tie Down Count 35 small aircraft tie downs;large 50(estimated) Unknown • aircraft tie down count unknown Annual Land Rents Blended or Split Blended Blended Blended Current Annual Land Rent Improved $0.18/SF $0.225/SF Varies as follows: New construction rate is$2.10/SF Existing 0-2,000 SF is$2.17/SF Existing 2,000.3,000 is$4.18/SF Tears Existing 3,000 SF+is$6.50/SF Typical Term 25 Y 30 years 20 years Renewal Options 25 years Five 5-year renewal options 13 Escalators CPI based adjustments every 5 years Annual CPI based escalations Annual CPI based escalations Transfer Fee 200 .- None None Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Tenant controls Has not encountered this Reverts back tO the airport If necessary,who pays to remove the hangar? Unknown Tenant Has not encountered this situation Does the airport ever buy hangars? Unknown Possible No If purchased,how Is compensation determined? Unknown Probably via appraisal NA Other Questions Tenant snow removal--paid by tenant or airport? Tenant City Tenant Airport snow removal charge(N any)? None $300/yr. NA Fuel Flowage Fees $.07/gallon None AvGas$0.10/gallon • letA$0.12/gallon Source Linda Leigh,Admin.Secretary Kreslyn Schuehler,Driggs City Cecilia,Admin.Assistant Secretary and Cheyenne @ Teton _ -- ........ __,._. Aviation FBO Phone# 208 446-1860 208 354-2362 and 208 354-3100 Airport Admin 208 788-4956;FBO 208788-9511 VALBRIDGE PROPERTY ADVISORS i Mountain States Appraisal and Consulting,Inc. Page 9 \.' f Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY _ _..... _.. 6 7 8 Airport Name Lewiston-Nez Perce County Sandpoint Airport Bozeman Yellowstone International Regional Airport Airport Address 406 Burrell Avenue 1100 Airport Way 850 Gallatin Field Rd. City,State Lewiston,ID Sandpoint,ID Bozeman,MT TIE DOWN RATES ----- --- -_ Airport or FBO Managed Airport Airport Airpor Rate Division None None Weight ....._. .... .__ General $10/day Down Rates $5/day $6/day 0-12,500 lbs.@$10/day or$50/mo $30/mo $30/mo 12,500-30,000 lbs.@$10/day; ($20/mo for all local based planes) Comment Discounts ............._......_.....____---._.__..---Seasonal Term 3 months or 1 year NA NA Seasonal Rate 3 months at$25/mo. NA NA • Annual $20/mo NA NA Tie Down Count 54 39 -- -- ---- Unknown Annual Land Rents Blended or Split Blended Blended Blended Current Annual Land Rent Improved $0.22/SF $0.18/SF to$0.45/SF $0.10/SF Typical Term 20rs. — -- ..._.—......._—........-----Y —...—...... 30 years..._ _. 10 years Renewal Options 5 yrs. 1 at 20 years Source didn't know Escalators 12.5%every 5 years CPI based every 5 years with Source didn't know language allowing for rent adjustment based on market .__ ... conditions changes if applicable Transfer Fee None None Not necessarily,case by case basis Reversionary Hangar Clause Questions _ What happens to the hangar at lease expiration? Tenant controls Reverts back to the county Renew or sell If necessary,who pays to remove the hangar? Has not encountered this situation Tenant required to maintain hangar Tenant Does the airport ever buy hangars? No Yes,can happen Has not encounter this If purchased,how is compensation determined? NA Negotiated btwn buyer and seller NA Other Questions Tenant snow removal--paid by tenant or airport? Airport Airport Airport Airport snow removal charge(if any)? None No None Fuel Flowage Fees None $.06/gallon Unknown Source Tye Harper Dave Schuck,Manager Meggie Moeller,Admin.Scott Humphry Manager Phone* 208746-4471 208265-2266 406388-8321 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 10 'til , f Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 A\-':"!' `re at?OPE?TY ADVIS'.. AIRCRAFT TIE DOWN AND LAND RENT SURVEY 0i1C1'\ AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY _............. .... 9 11 _....__ Airport Name 1 _.._........ ___._ __.. Mission Fiek! Missoula International Airport Poison Airport Address Exit 340 from 1-90 Aviation Way Rd. _..City,State Livingston,MT Missoula,MT Poison,MT TIE DOWN RATES _..----- ..........-....__.._�._. Airport or FBO Managed ......_ ""-'---" rt Rate Division rt ...._—._._ ._. F8Air0__...._. Pe None.... .___..__.._ .... _..... ... ........... .._.... ...... ... None None General Tie Down Rates ....-....... ......... Free $40/mo _.Free Tk 411F 144? LF-A/ L•F LF M -iV ....... .. .._._..._..... Comment Discounts -. ._........_._ _...... ___.....___...... ._...................... Seasonal Term .. -- ____.... ..... NA NA Seasonal Rate __ ............_...._.._--'— NA ......_..._-_.—_�-. NA AnnuNA al NA NA Tie Down Count Unknown Unknown Unknown _- Annual Land Rents Blended or Split Blended F80Blend Current Annual Land Rent Improved $0.17/5F r $0.20/SF Typical Term 40 years Typical is 25 years r 10 years Renewal Options 1 at 25 years 10 year renewal Escalators Rate re-evaluated every 3 years Evaluated every 5 years,and possibly cap escalated by$.05/SF Transfer Fee None No 40 Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Reverts back to the airport Tenant can remove,renew,or sell Usually renewed or sold If necessary,who pays to remove the hangar? NA Tenant Depends on situation Does the airport ever buy hangars? Has not encounter this No Do not have funds for this If purchased,how is compensation determined? NA NA Other Questions Tenant snow removal--paid by tenant or airport? Airport Tenant pays on their property Tenant from hangar to ramp Airport snow removal charge(if any)? None NA Fuel Flowage Fees $0.05/gal $0.05/gal No Source Jerri Miller,Admin. Minuteman FBO and Airport Bruce Agrella(manager) Office Phonelt 406 222-5782 I { jay 406 728-9363 and(406)728-4381 406 249-8207 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 11 • Vaibridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 '"- PROPERTY ADVISORAIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY _..._.....—_ .... .....- --...— 13 Airport Name _._......._. ._..._ .._.. ........ Ronan Airport _......... .. ............. 14 _..l St.Ignatius Airport ----- Glacier National Park Airport Address Old US Hwy 93 — _ City,State ._. ._. Watson Rd 4170 Highway 2East Ronan,MT St.Ignatius,MT Kalispell,MT TIE DOWN RATES ...._ ...... ..........._. Airport or FBO Managed Airport — Airport Rate Division .._..... None ...- _._ Noire _... None General Tie Down Rates Free _...._ Nene..... _...._ None _... Free __......_. $45/mo Li--,A7 L� LF F 1 Comment ....._.... ._..._—._.... No discounts or other variation (� reported Discounts Seasonal Term NA \ ' NA NA -- �a Seasonal Rate .. ..............NA NA V NA Annual NA Tie Down Count --. - Unknown Unknown U UnUnn known Annual Land Rents 'a Blended or Split Blend Blend Blended Current Annual Land Rent Improved $0.20/SF $0.20/SF $0.40/SF U Typical Term 10 years 10 years 20 years Renewal Options 10 year renewal10 - ---- -- - Escalators year renewal Two�i1 5-years each Evaluated every 5 years,and possibly Evaluated every 5 years,and possibly Annual CPI based escalations escalated by$.05/SF escalated by$.05/SF Transfer Fee 40 540 none Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Usually renewed or sold Usually renewed or sold Reverts to airport or renew If necessary,who pays to remove the hangar? Depends on situation Depends situation Tenant Does the airport ever buy hangars? Do not have funds for this Do not have funds for this If purchased,how is compensation determined? Have not encountered this Other Questions Tenant snow removal--paid by tenant or airport? Tenant from hangar to ramp Tenant from han arto ram Airport snow removal charge(if any)? 8 P Airport up to 6"to door Fuel Flowage Fees Only during fire season No $0.005/gallon Source Bruce Agrella(manager) Bruce Agrella(manager) Cindy,Administrative office PhoneM --- _ 406249-8207 406 249-8207 406257-5994 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 12 6 �� ,cl�G 1"i „ VaIbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY _...... _. 15 16 17 Airport Name Bend Municipal Airport Redmond Airport Pullman-Moscow Regional Airport Address - 63136 Powell Butte Rd. 2522 Southeast Salmon Ave 3200 Airport Complex North City,State Bend,OR Redmond,OR Pullman,WA TIE DOWN RATES --- Airport or FBO Managed Ai ........ ___ _ _. Airport .. __. ...... ___.._..... _—_.._. Airport Airport..._ o Rate Division None Aircraft type Weight General Tie Down Rates - -.- ..-.-.. ..... ._—_ _... $41/mo Single @$5/night or$50/mo Airplanes Twin @$8/night or$50/mo 0-12,500 lbs.@$5/night or Jet/helo @$10/night or$50/mo $56.43/mo or$366.76/yr.; 12,501-15,000 lbs.$10/night; V 15,000-45,000 lbs.$15/night; 45,000+lbs.@$20/night; (12.501+lbs.per mo.&yr.treated Fcase by case) OD L4` Helicopters 0-4,000 lbs.@$10/night ( 4,001-6,000 @$15/night 6,001+@$20/night (Per mo.&yr.treated case by case) Comment No discounts or other variation No discounts or other variation reported reported Discounts ---- Seasonal Term NA NA NA ..... -' __ Seasonal Rate NA_._... .. NA NA AnnualNA NA NA Tie Down Count 50(estimate) stimatte) Unknown Unknown Annual Land Rents Blended or Split Split includes a 10'setback area on Blended Blended sides and 20'out front Current Annual Land Rent Improved $0.29/SF;$0.27/SF on unimproved $0.32/SF $0.17/SF Typical Term 30 or 45 years 10ears Renewal Options y —25 - 2 @ 10-years each 10 Escalators 3%/year with re-evaluation every 5 CPI based escalations(some every 5 CPI based every 5 years,re-valuated years years,some every 7 years,some after 10 years(FAA required) annual) Transfer Fee $362 $500 none Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Tenant can renew,or remove Depends,older buildings transfer to Tenant renews or removes building otherwise it reverts to the airport the airport,newer buildings can be or reverts back to airport renewed If necessary,who pays to remove the hangar? Tenant Tenant Tenant Does the airport ever buy hangars? No Doesn't know of that happening No If purchased,how is compensation determined? Other Questions _ Tenant snow removal--paid by tenant or airport? Airport primarily Airport Tenant up to taxiway Airport snow removal charge(If any)? Fuel Flowage Fees $0.07/gallon $0.07/gallon $0.07/gallon Source Gary Judd(Manager) Tammy Rohach office assistant Airport Manager Phones 541389-0258 541 504-3497 (509)338-3223 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 13 t* r ',, f; Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ;;,:; AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY 18 19 Airport Name _... ................. _ Felts Field Aviation _ ""- -� --- ---- Aspen Pitken Airport rango/La Plata,Airport Address5829 E Rutter Ave 0233 E Airport Road City,State Spokane,WA -- - Aspen,CO Duranggo,CO TIE DOWN RAM Airport or FBO Mand ._.... _...... ---......... _ ... age __�._._ FBO Airport FBO Rate Division None Size Type General Tie Down Rates $30/mo Single @$521/mo Light Single @$10 Medium&@$597/mo Light Twin @$54; Large @$655/mo Heavy Twin @$60; XLarge @$713/mo Turbo Prop @$200 XXLarge @$785/mo (all rates permit stay term of up to 2 XXXLarge @$939/mo weeks,additional term is negotiable with the FRO) r- (-1- \ P°Ik i qes. P1°. Qfirioew Comment Discounts ............................----._.._.—......................_. Seasonal Term NA �_- NA NA _ - Seasonal Rate NA... ......_.--- '--.... __. NA NA i•-•Annual NA Tie Down Count - _ NA_ NA Unknown Unknown Unknown .-- —_- Ti Annual Land Rents Blended or Split None available None available Blended Current Annual Land Rent Improved Source would not comment NA $0.24/SF Typical Term Source would not comment NA 30 years Renewal Options Source would not comment NA 2 5-year options Escalators Source would not comment NA CPI based every 5 years Transfer Fee Source would not comment None None Reversionary Hamar Clause Questions What happens to the hangar at lease expiration? Source would not comment NA Tenant controls If necessary,who pays to remove the hangar? Source would not comment NA Tenant Does the airport ever buy hangars? Source would not comment NA Unlikely If purchased,how Is compensation determined? Source would not comment NA Qther Questions Tenant snow removal--paid by tenant or airport? Source would not comment NA Tenant pays up to the aviation ramp Airport snow removal charge(If any)? Source would not comment NA Fuel Flowage Fees None Unknown $0.08/gallon • Source Western Avionics(F80)and Airport 131 Deherra Tony Vicari(Manager)Av Flight FBO Manager(who did not answer some _. of the questions) Phone*, 509 534-7371 970 429-2850 970 259-7400&970 382-6052 — VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. • Page 14 . r' Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY 23 91tpIJ9 9. . 21 22 Airport Name uride Regional Airport nderson Executive Airport Lake Tahoe Airport Address 1841 Airport Road City,State Telluride,CO Henderson,NV South Lake Tahoe,CA TIE DOWN RATES Airport or FBO Managed gAirport Airport-- ........... ....—_._ FRO Rate Division __. _.._. _....... Per SF of Wingspan by fuselage Type Type ...._. .._.._...—_ ._..... GeneralTie Down Rates Piston$0.02/SF/nigh[ • or Single @$45/mo S Piston Single @$50/wk.or$60/mo $0.1044/SF/mo; Single(shaded)@$110/mo; Piston Twin @$55/wk.or$75/mo Jet$0.04/SF/night or$0.1203/SF/mo Multi-engine @$55/mo Turbo Prop @$200/wk.or$420/mo Multi-engine shaded @$125/mo Light let @$420/mo Medium Jet @$900/mo V1141 /h Large/Heavy Jet @$1,200/mo Ir�N-�IfJ Transports @$2,400/mo a 0Lim '`arfritov ' . 1. P0- \k Comment 6 month contract required Discounts —......__. .---_.. _......_....-...... Seasonal Term -- -- ......_._......_ _.__. _ NA NA NA ......................—_....---._..... ---...... ......... --- Seasonal Rate NA ----- NA.. NA Annual NA NA NA Tie Down Count - Unknown ...._ Unknown--. - Unknown "--------. Annual Land Rents Blended or Split Blended No recent leases Airport rents hangars,does not have land tenants Current Annual Land Rent Improved $0.51/SF Not reported NA Typical Term 25ears Y 50 years typical NA Renewal Options 1 @ 25 years Not reported NA Escalators Rental Rate re-valuates every 5 years Not reported NA Transfer Fee None(holds first right of refusal) Varies on a number of factors None reported Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Reverts back to airport Would not disclose NA If necessary,who pays to remove the hangar? Tenant Would not disclose NA Does the airport ever buy hangars? Yes Would not disclose NA If purchased,how is compensation determined? Appraisal Would not disclose NA Other Questions Tenant snow removal--paid by tenant or airport? Airport up to 5'in front of door NA Airport Airport snow removal charge(if any)? None Fuel Flowage Fees $0.40/gallon Varies,would not disclose 0.11/ Source Richard Nuttal(manager) Admin. Admin. Phone, ----" 970 728-8601 702261-4800 530 541-0480 _Al- VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. - Page 15 Air Ambulance Landing Fees �-~ • CY 16 approx. 55 landings would have raised about $ 1 ,000 • Not included in FYI 8 budget • Of they airports in the rate study that charge landing fees xx charge (� cotl7►a_ n F5 )4..rfII( IIS ) Il 1 ) 13 FY17 FY18 $364,180 $382,452 ,..918.626 $47,500 63. 6541,430950.500, 53.156 i 57,200 -$7.200 57.800 530,000 58.500 980,159 $52.69 $15.600 954.897 515.600 55.800 $143.814 ■Property Tax O Rec Lease ■LOT •Property Tax O Rec Lease •CIP Transfer ■County Levy ■Hangr Leases■OSFS Contract ■County Levy ■Hangar Leases•USFS Contract IN Mist ■Fee Revenue II Interest ■Mist ■Fee Revenue ■Interest Airport Revenue 6 cA L 2 �vh - f IA► A2:- oc�.�►��`� ( �-v ��Jt T Co + - 8'J Peon 1g- n 2 JST c_. - P p� (i)t-o—s a N n1 c_ Nt¢WSfL S /4 D 6*^-4•0 caa L —1(6vCML 0N102 P4-0-404 7`.1 14 u c.--)e-t.,cf-1 rs or P d'S Airport Budget FY 18 • In from Gen Fund • Out to Gen Fund • $18,626 Property Tax ° $43,523 Admin Transfer • $7,200 Parks Rent $1,199 GIS Transfer • $80,159 CIPTransfer ° $271 Engineer Transfer $I05,985 'ie-' $8,610 Network Admin $53,603 Note: Hangars provided $79,700 in property tax • Other to City of McCall $163,000 across all L)ept- It°-G taxing districts. J;q A•4 - q1/4,(9 OD ��►�nSs 1 - Noy Mra.2,...6-r D. E7v cis,ve 15 rf (pip, 54/464)6.6-. /� J 7 5year CIP '(Q • 2018-20 Move Parallel Taxiway • 2018 Land Acquisition $3,500,000 ($7,000,000 for full 72.5 acres) • 2018 Update Environmental Assessment$240,000 • 2018 Planning&Design $21 1,1 1 I • 2019 Construction Phase I $4,000,000 • 2019 Relocate NAVAIDs$200,000 • 2020 Construction Phase II$2,500,000 • 2018 Airport Master Plan $250,000 • 2018-2021 Apron To Replace Lost to Txy $1,500,000 • 2020 HangarTaxiways$920,000 • 2020 Apron Rehab$2,000,000 • 2021 SRE— Snowblower$500,000 • 2022 Ops Truck$35,000(no AIP grant) • 2022 EA for Runway Extension $240,000 • 2022Airport Fencing$550,000 Land Acquisition $3,500,000 total cost budgeted Litigation fee estimate $192,883.50 ($14,466.26 @ 7.5% grant match) Leaves $3,307,166.5 44.56,..95L-( Janoush Opinion: $2,473,900 ($185,542.50 @ 7.5%grant match) North to South C., (`-d. Parcel 1 $485,800 Corlett opinion is $182,910 Parcel 2 $517,200 Corlett opinion is $183,182 Parcel 3 $925,500 Corlett opinion is $299,729 Parcel 4 $545,400 Corlett opinion is $168,422 Cor ett Opinion: $834,243 ($62,568.23 @ 7.5% grant match) Update Environmental Assessment—$240,000 est likely very high as no significant change to land has occurred. 150k 16 CIP FYI 8-20 City Match E!� 2018 Est cost I Budgeted City Match Land Acquisition $3,500,00011 $262,500 Update EA $240,000 $18,000 Planning&Design $211,111 $15,833 Master Plan _ ..... $250,0013 $18,750 f , $315,008 2019 Construction Phase I $4,000,000 5300,000 Relocate NAVAIDs $200,0004 $15,000 $315,000 t 2020 Construction Phase II $2,500,000 $137,500 $$17,53; 17 -� Way Ahead ��- • Develop procedures for new fees • Align CIP for more time • l L «X L Q L SE ,+2-w7'Z-" (41067gS ke.,,.) ;,o A.pP,2m✓ra- C--o4 18 r////) iVaIbridqe ,. PROPERTY ADVISORS Land Rent Survey - Update Appraisal McCall Municipal Airport McCall, Valley County, Idaho Report Date: October 28, 2015 - , g' , . t FOR: City of McCall, Idaho Nathan Coyle City Manager 216 E. Park Street McCall, ID 83638 Client ID: NA Valbridge Property Advisors Mountain States Appraisal and Consulting, Inc. 1459 Tyrell Lane, Suite B Boise,ID 83706 208-3364097 phone Valbridge File Number: 208...345-1175 fax ID02-15- 0213-000 va/bridge.cora \Iade bri �, _.� Suite 8 PROPERTY ADVISORS Boise,ID 83706' 208-336-1097 phone Mountain States Appraisal& 208--345-1175 fax Consulting,Inc, p valbridge.com • October 28, 2015 Nathan Coyle Municipal Airport Manager City of McCall 216 E. Park Street McCall,Idaho, 83638 RE: Land Rent Survey Update McCall Municipal Airport, McCall, Idaho Valbridge File ID02-15-0213-000 Dear Mr. Coyle In accordance with your request, we have prepared a report relative to the above referenced assignment. This report is intended to serve as an "update appraisal" of our prior appraisal report on the subject for the same client. The prior report is identified by our file number ID02-14-0231-000. We also note that this report is presented in an update appraisal format as set forth in Advisory Opinion 3 (A03) by the Uniform Standards of Professional Appraisal Practice (USPAP). Thus, in this report we incorporate by reference portions of the prior appraisal and the reader is advised that this report is not intended to be a stand-alone document but rather used in tandem with the noted prior appraisal. Specifically, the reader is referred to the prior appraisal for Extraordinary Assumptions and Hypothetical Conditions, cautioning language regarding the subjectivity of the assignment and subject property identification, disclosure of prior professional services pertaining to the subject, and comparable data and analysis pertaining to the conclusions made in the prior report. VALBRIDGE PROPERTYADVISORS.AKRON•ATLANTA•BATON ROUGE•BOISE•BOSTON•BOULDER•CENTRAL VALLEY CA/CENTRAL COUNTIES•CHARLESTON•CHARLOTTE•CINCINNATI• COEUR EYALENE•DALLAS-FORT WORTH•DAVENPORT•EAST LANSING•GREENVILLE•HARTFORD•HILTON HEAD•HOUSTON•INDIANAPOLIS•JACKSONVILLE•KANSAS CRY•KNOXVILLE• LAS VEGAS•LOS ANGELES•ORANGE COUNTY•LOUISVILLE•LUBBOCK•MEMPHIS•MILWAUKEE•MINNEAPOLIS•MONTEREWCARMEL•MONTGOMER"•NAPLES•NASHVILLE•NEW ORLEANS• NORFOLK/VIRGINIA BEACH•NORWALKISTAMFORD•OLYMPIA•ORLANDO•PHILADELPHIA•PITTSBURGH•RALEIGH•RICHMOND•ROANOKE•SACRAMENTO•SALT LAKE CITY•SAN ANTONIO• SAN DIEGO•SAN FRANCISCO BAY AREA%EAST BAY•SAN FRANCISCO BAY AREA/SILICON VALLEY•SEATTLE•SHREVEPORT•SPOKANE•SOUTHERN UTAH•TAMPA/ST.PETERSBURG•TUCSON• TULSA•WASHINGTON OCIBALTIMORE k.`1F' Vaibridge NATHAN COYLE CITY OF MCCALL,IDAHO PROPERTY ADVISORS Page 2 For this assignment, the client has requested that we allocate the market rent estimate from our prior report to the building footprint component of a hangar site of the subject. The client requested we then estimate the market rent for the non-footprint component of a hangar site of the subject. This request constitutes a change of scope from the prior report as the market rent estimate developed in the prior appraisal was a blended rate applicable to the entire site. Our conclusions in this report are again applicable to an as is scenario and as if complete (hypothetical) scenario. The reader is advised that consistent with the prior report the hypothetical as if complete scenario assumes the ground allocated for potential hangar development has been improved to a position that it can accommodate new hangar space (i.e. has been leveled, compacted, is at grade, paved, etc.). We also note that this appraisal does not included analysis of aircraft tie down rates although they were analyzed in the noted prior appraisal. The analyses, opinions, and conclusions and prepared this report in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) of the Appraisal Foundation; the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute; and the requirements of our client as we understand them. The City of McCall is the client and sole intended user of this report. The intended use is for internal decision making purposes. The analysis and opinions reported herein are subject to the definitions, assumptions and limiting conditions, and certification contained in this report. No other users or uses were intended. The acceptance of this report is contingent on the following extraordinary assumptions and/or hypothetical conditions: Extraordinary Assumptions and Hypothetical Conditions: Extraordinary Assumptions: 1. We assume no significant changes to the airport expansion plan (as described in our prior appraisal report on the subject) have occurred. 2. No additional extraordinary assumptions were invoked in conjunction with this update appraisal. However,the reader is advised that the extraordinary assumptions disclosed in the noted prior appraisal apply to this report as well. Hypothetical Conditions 1. No additional hypothetical conditions were invoked in conjunction with this update appraisal. However, the reader is advised that the hypothetical conditions disclosed in the noted prior appraisal apply to this report as well. Consistent with the prior report the hypothetical as if complete scenario in this report assumes the ground allocated for potential hangar development has been improved to a position that it can accommodate new hangar space(i.e. has been leveled, compacted, is at grade, paved, etc.). Our conclusions for the requested items in conjunction with this updated appraisal report are presented in the following table: 0 Valbridge NATHAN COYLE CITY OF MCCALL,IDAHO a PROPERTY ADV SORS Page 3 CONCLUSION SUMMARY TABLE Item As Is Conclusion As If Complete (Hypothetical) Land Rent/SF/Year(building footprint area) $0.30 $0.30 x Non-Footprint to Footprint Ratio 60% 60% Land Rent/SF/Year(non-footprint area) $0.18 $0.18 Effective Date October 28, 2015 October 28, 2015 Property Rights Fee Simple Fee Simple Scenario As Is As If Complete The various conclusions and data ranges yielded by our research are presented in the body of this report to follow. This letter of transmittal is not considered valid if separated from this report, and must be accompanied by all sections of this report as outlined in the Table of Contents, in order for the opinions and conclusions set forth above to be valid. Respectfully submitted, Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. ---7 Paul Dehlin, MAI G.Joseph Corlett, MAI, SRA Senior Appraiser Senior Managing Director Idaho, Certificate#CGA-343 Idaho, Certificate#CGA-7 Certificate Expires 09/09/2016 Certificate Expires 03/11/2016 Va I bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 TABLE OF CONTENTS ,,,,, PROPER1Y ADVISORS Table of Contents Cover Page Letter of Transmittal Table of Contents i Introduction 1 General Subject Property Description 4 Split-Rate Land Rent Survey 7 General Assumptions and Limiting Conditions 9 Certification 15 Addenda 17 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page i Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 INTRODUCTION <,,, PROPERTY ADVISORS Introduction Client and Other Intended Users The client in this assignment and intended user of this report is the City of McCall, Idaho. No other users were intended. Intended Use The intended use of this report is for internal decision making purposes. No other uses were intended. Type and Definition of Value Market Value is defined as follows: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. Buyer and seller are typically motivated; b. Both parties are well informed or well advised, and acting in what they consider their own best interests; c. A reasonable time is allowed for exposure in the open market; d. Payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto;and e. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. Fee Simple Estate Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat. (Dictionary) Valuation Scenarios and Effective Dates of Value In this update appraisal report, we developed land rental rate opinions for the subject property under the following scenarios: VALUATION SCENARIOS Valuation Completed "As Is" Yes "As If Complete(Hypothetical)" Yes The subject currently contains some existing hangar space site space. Additionally, as noted in the prior appraisal, the city is contemplating an expansion of the airport. Exact details as to how much hangar space will be added is unclear. As such, the reader is advised that the market rent estimate for hangar land developed in this report are reflective of the as is condition of the existing hangar ground space. The same conclusions are applicable for the portions of the expansion area that will VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 1 Vaibridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 �. INTRODUCTION be allocated to new hangar development under the hypothetical condition that the necessary site improvements to these areas are complete. Please refer to the Glossary in the Addenda section for further definitions of value type(s) employed in this report. Real Estate Identification No specific subject property is contemplated in this report. In general terms, the subject of this report comprises those portions of the City of McCall Municipal Airport that are or will be used for aircraft tie down parking and/or hangar development. Date of Report The date of this report is October 28, 2015,which is the same as the date of the letter of transmittal. Scope of Work This report summarizes the results of our survey of several regional airport facilities to gather details pertaining to split-rent land rental rates. The research conducted in this report entailed phone calls to the various airports surveyed in an attempt to gather relevant information pertaining to the client's request. Finally, note that the McCall Airport and the various comparable airports were not physically inspected by either Paul Dehlin, MAI or Joe Corlett in conjunction with this report. Notwithstanding, the reader is advised that both Paul Dehlin, MAI or Joe Corlett, MAI, SRA have visited the McCall Airport on multiple occasions in the recent past. The results of our research and analysis are summarized in this report to a level anticipated acceptable by the client. Ownership and Sales History To the best of our knowledge, ownership of the subject property has been held by the City of McCall in excess of 3 years and is not listed for sale or subject to any pending sale transactions or options to purchase. List of Items Requested but Not Provided No items were requested from the client and ultimately not provided in conjunction with this assignment. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 2 Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 is.. PRO E#?Tv ADVISORS INTRODUCTION Extraordinary Assumptions and Hypothetical Conditions Extraordinary Assumptions: 1. We assume no significant changes to the airport expansion plan (as described in our prior appraisal report on the subject) have occurred. 2. No additional extraordinary assumptions were invoked in conjunction with this update appraisal. However,the reader is advised that the extraordinary assumptions disclosed in the noted prior appraisal apply to this report as well. Hypothetical Conditions 1. No additional hypothetical conditions were invoked in conjunction with this update appraisal. However, the reader is advised that the hypothetical conditions disclosed in the noted prior appraisal apply to this report as well. Consistent with the prior report the hypothetical as if complete scenario in this report assumes the ground allocated for potential hangar development has been improved to a position that it can accommodate new hangar space(i.e. has been leveled, compacted, is at grade, paved, etc.). VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 3 410Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 PROPERT Y ADVISORS GENERAL PROPERTY DESCRIPTION General Subject Property Description No physical changes to the subject property are believed to have occurred since the prior appraisal. As such, the following is a reiteration of the Subject Property Description presented in the prior appraisal with two exceptions. First, we exclude the discussion of the tie down areas of the airport in our description as they are not part of this update assignment. Second, we exclude the discussion from the prior report pertaining to analysis of land sales data as it is also not part of the scope of this update assignment. The subject of this appraisal comprises those areas of the City of McCall Idaho Municipal Airport that are or will be used for hangar development. The airport is located along the west side of Highway 55 near the south periphery of McCall. Following, we present an aerial photo illustrating the general boundaries of the existing airport complex: immuminwrifillaltelltl,k-:.: 4.04/' •r .. 4 t F Y ''R y ' !u .,�'MY'4e' ys g' ( ria R� r 411 %fir '' " �� '" � ' 1 7., - : � . �, � C �' '` cxscrg P30 4 l' ' 6 1 Vis* r> § It is our understanding the city intends to expand the existing airport. The expansion is quite broad based including (but not limited to) a relocation of the taxi way, expansion of the runway, construction of a new terminal complex, allocation of multiple acres for new hangar development, and 3-acre car rental facility on the east side of the existing runway. The various changes to the airport associated with this expansion are anticipated to occur over an extended term including acquiring land and taxiway construction in 2015, environmental assessment and more land acquisition in 2016, apron rehabilitation and additional taxiway construction in 2017, updating of the Master Plan in 2018, acquiring of equipment and fencing in 2019, and acquiring snow removal equipment in 2020. Note that our understanding of the proposed expansion is based on a brief review of the McCall Airport Master Plan (MAMP) obtained in conjunction with a different assignment we completed relating to the McCall Airport. Following, we present a copy of the proposed Airport Layout Plan obtained from the City of McCall internet website: VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 4 Va I bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 PROPERT ADVISORS GENERAL PROPERTY DESCRIPTION 1 li --- e AIRPORT LAYOUT PLAN I [ Q cc.� t' ' w:1 . e i. .Ems....��y�—:�.-fl�._�=f}:��s.•-�T-- ss- e- -�- • • r i ,,,_,11111"177'..}IR�1l 'ems, , I . . ' , --- •-„,i "-.;-"- --_-.-..--- , ., nar -- . ill -'2- ° -° ICI gt --. , , , , _ . 1 , ,,,,,,, _ D., 4 ' fl.ii fil - :27't- 3. R _ o e� M i I I I M I I ioon,MA oaroc ecc,icnruic cro i N:.E?.s—�, aae-FM )e—..-2SYS An expanded view illustrating the hangar, Fixed Base Operator(FBO), and other areas of the airport is presented following: VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 5 Va I bridge LAND RENT SURVEY-UPDATE APPRAISAL, 15-0213-000 p 01-E i., , GENERAL PROPERTY DESCRIPTION 0 zoo 400 000 1200 lall 0 _..- _ +spa — ❑ :�#�1 �, • '`Ion"""a o\:‘-si - �� O a r p`jtj; I j q I MIL 11 1 �rA� a.i.?rryl. � -. A ;. _.(. _ Qom, �. — , — 1E10111 ` ❑ , iipro, N as.c c ❑ w, , `; -.. ❑ 7 H wars Ammo MO CO 12 � lac =71'4E' u i .�.oec ❑❑0'��❑l 6 I �O.p �� ,-- - . / ".1.---1%y—, ?—. NT <�> / amino no i., fr--.. tea" 1 4. \ N G [ M00A Kiaf -' 0 1 ❑ i ice- As noted, the subject of this update appraisal report comprises those areas of the City of McCall Idaho Municipal Airport that are or will be used for hangar development. No specific detail (beyond the preceding) with regard to hangar development was available for consideration. A number of assumptions were necessary for to prior appraisal and are set forth following again as they apply to this assignment as well: 1. We assume any contemplated hangar sites developed on the McCall Airport will be level and at grade, rectangular in shape, and have adequate vehicle access. 2. We assume any contemplated hangar sites developed on the McCall Airport will be relatively consistent with existing hangar sites on the airport. 3. We assume all hangar site areas on the McCall Airport are served by all public utilities. The allocated hangar ground is zoned by the City of McCall as AP (Airport). Given this observation, the preceding assumptions, and existing neighborhood development trends, we have concluded that land sales having similar development potential to that of the subject, have a highest and best use for light-industrial development. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 6 Valbridge LAND RENT SURVEY-UPDATE APPRAISAL, 15-0213-000 ANALYSIS OF LAND SALES Split-Rate Land Rent Survey In the noted prior appraisal the client requested we estimate the land rent/SF for the subject (McCall Municipal Airport hangar development ground). Our research revealed the predominant trend for hangar development (based on the comparable data analyzed) entails rent charged using a blended per square foot rate that applies to the entire site. Hangar sites include building footprint areas and non-footprint areas. Conversely, we note that some airports charge split rental rates allocating one rate to the building footprint and another rate to the non-footprint area. In our prior appraisal, we concluded to a blended land rental rate of$0.30/SF per year for the subject. In conjunction with this assignment, the client has requested that we allocate our prior conclusion to the building footprint portion of the site and determine an estimate of market rent for the non- footprint portion of the site using split-rate indications from airports that charge rent on this basis. As noted, the request from the client constitutes a change in the scope of the assignment as the blended rate from our prior conclusion is now allocated only to the building footprint portion of the site. Following we present a table summarizing several split-rate rent indications derived from our research in conjunction with this assignment: SPLIT-RATE LAND RENT SUMMARY TABLE Comp 1 2 3 4 S 6 7 8 Airport Name Bend Municipal Nampa Pocatello Walla Walla Yellowstone Fanning Field Helena Regional Billings Logan Airport Municipal Regional Airport Regional Airport Regional Airport Airport International Airport Airport Address 63136 Powell 116 Municipal 1950 Airport 310 A Street 2101 Roger 2140 N.Skyline 2850 Mercer 1901406-8609 Butte Rd. Dr. Way Sedam Drive Dr. Loop City,State Bend,OR Nampa,ID Pocatello,ID Walla,Walla, Cody,WY Idaho Falls,ID Helena,MT Billings,MT WA Annual Land Rents Blended or Split Split-rate SplitrateSplit-rate Split-rate Split-rate Currently Split-rate See comment includes a 10' blended, setback area on historically split- sides and 20' rate out front Current Annual Land Rent $0.29/SF on 50.254/SF for $0.16/SF 50.266/SF for $0.15/SF for Current rate is S0.1445/5F for $0.27/SF of site inproved building building building improved area typical building $0.28/SF footprint area; for ground with footprint footprint; footprint (land improved footprint; changed from $.0722/SF for utility lines; $0.27/SF on $0.14/SF of $0.11/SF for the with utility $0.20/SF for about 1 year other non- $0.22/SF for unimproved setback area setback(open) lines);$0.213/SF exective ago when the footprint areas ground without (land not building rate was split utility lines. improved with footprint; with$0.25/SF utility lines); $0.03/SF for was allocated to $0.106/SF setback area. the footprint, unimprovedland Our analysis and 50.15/SF (land adjacent uses the was allocated to to building). midpoint of the non-footprint Our analysis footprint rents areas. uses the of 50.175/SF midpoint of the unimproved Split-rate Rent Analysis Building Footprint Rent/SF $0.2900 50.2540 50.1600 $0.2660 50.1750 $0.2500 $00.1445 50.2700 _ Non-footprint Rent/SF 50.2700 50.1400 50.1100 50.1595 50.0300 50.1500 50.0722 $0.2200 Footprint/Non-footprint 93.10% 55.12% 68.75% 59.96% 17.14% 60.00% 49.97% 81.48% VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 7 •Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 ANALYSIS OF LAND SALES Eight indications of the ratio of non-footprint rent to footprint rent are suggested in the preceding table having an overall range of about 17% to 93% (rounded) and midpoint indications of about 60%. Note that the indication derived for Comp 4 uses the midpoint of the two non-footprint rent indications reported by the source. We also note that the indication for Comp 5 uses the midpoint of the two footprint indications reported by the source. Comp 8 is the least relevant indicator of the group. The quoted rents for this comp were reported on a different basis than the others as the source noted that the rents apply to ground with and without utility lines respectively. As such, no weighting is given to this indicator in our conclusion. Comps 1 and 5 represent the extreme indicators of the group at 93% and 17% (rounded) respectively. Absent these two indicators a narrowed range of about 50% to 69% (rounded) is suggested. As such, we conclude to a non-footprint to footprint ratio of 60%. Using the $0.30/SF rent allocated to the footprint component yields the following conclusions for the subject: CONCLUSION SUMMARY TABLE Item As Is Conclusion Land Rent/SF/Year(building footprint area) $0.30 x Non-Footprint to Footprint Ratio 60% Land Rent/SF/Year(non-footprint area) $0.18 Effective Date October 28, 2015 Property Rights Fee Simple Scenario As Is VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 8 0Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 PROPEiiTY�a�v,so s GENERAL ASSUMPTIONS&LIMITING CONDITIONS General Assumptions and Limiting Conditions This appraisal is subject to the following limiting conditions: 1. The legal description—if furnished to us—is assumed to be correct. 2. No responsibility is assumed for legal matters, questions of survey or title, soil or subsoil conditions, engineering, availability or capacity of utilities, or other similar technical matters. The appraisal does not constitute a survey of the property appraised. All existing liens and encumbrances have been disregarded and the property is appraised as though free and clear, under responsible ownership and competent management unless otherwise noted. 3. Unless otherwise noted, the appraisal will value the property as though free of contamination. Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. will conduct no hazardous materials or contamination inspection of any kind. It is recommended that the client hire an expert if the presence of hazardous materials or contamination poses any concern. 4. The stamps and/or consideration placed on deeds used to indicate sales are in correct relationship to the actual dollar amount of the transaction. 5. Unless otherwise noted, it is assumed there are no encroachments, zoning violations or restrictions existing in the subject property. 6. The appraiser is not required to give testimony or attendance in court by reason of this appraisal, unless previous arrangements have been made. 7. Unless expressly specified in the engagement letter, the fee for this appraisal does not include the attendance or giving of testimony by Appraiser at any court, regulatory, or other proceedings, or any conferences or other work in preparation for such proceeding. If any partner or employee of Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. is asked or required to appear and/or testify at any deposition, trial, or other proceeding about the preparation, conclusions or any other aspect of this assignment, client shall compensate Appraiser for the time spent by the partner or employee in appearing and/or testifying and in preparing to testify according to the Appraiser's then current hourly rate plus reimbursement of expenses. 8. The values for land and/or improvements, as contained in this report, are constituent parts of the total value reported and neither is (or are) to be used in making a summation appraisal of a combination of values created by another appraiser. Either is invalidated if so used. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 9 Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 :c.;.. PROPEi?'.Y AGViSORS . GENERAL ASSUMPTIONS&LIMITING CONDITIONS 9. The dates of value to which the opinions expressed in this report apply are set forth in this report.We assume no responsibility for economic or physical factors occurring at some point at a later date, which may affect the opinions stated herein. The forecasts, projections, or operating estimates contained herein are based on current market conditions and anticipated short-term supply and demand factors and are subject to change with future conditions. 10. The sketches, maps, plats and exhibits in this report are included to assist the reader in visualizing the property. The appraiser has made no survey of the property and assumed no responsibility in connection with such matters. 11. The information, estimates and opinions, which were obtained from sources outside of this office, are considered reliable. However, no liability for them can be assumed by the appraiser. 12. Possession of this report, or a copy thereof, does not carry with it the right of publication. Neither all, nor any part of the content of the report, or copy thereof (including conclusions as to property value, the identity of the appraisers, professional designations, reference to any professional appraisal organization or the firm with which the appraisers are connected), shall be disseminated to the public through advertising, public relations, news, sales, or other media without prior written consent and approval. 13. No claim is intended to be expressed for matters of expertise that would require specialized investigation or knowledge beyond that ordinarily employed by real estate appraisers. We claim no expertise in areas such as, but not limited to, legal, survey, structural, environmental, pest control, mechanical,etc. 14. This appraisal was prepared for the sole and exclusive use of the client for the function outlined herein. Any party who is not the client or intended user identified in the appraisal or engagement letter is not entitled to rely upon the contents of the appraisal without express written consent of Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. and Client. The Client shall not include partners, affiliates, or relatives of the party addressed herein. The appraiser assumes no obligation, liability or accountability to any third party. 15. Distribution of this report is at the sole discretion of the client, but no third-parties not listed as an intended user on the face of the appraisal or the engagement letter may rely upon the contents of the appraisal. In no event shall client give a third-party a partial copy of the appraisal report. We will make no distribution of the report without the specific direction of the client. 16. This appraisal shall be used only for the function outlined herein, unless expressly authorized by Valbridge Property Advisors I Mountain States Appraisal and Consulting,Inc.. 17. This appraisal shall be considered in its entirety. No part thereof shall be used separately or out of context. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 10 ll ,, Va I bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 GENERAL ASSUMPTIONS&LIMITING CONDITIONS 18. Unless otherwise noted in the body of this report, this appraisal assumes that the subject property does not fall within the areas where mandatory flood insurance is effective. Unless otherwise noted, we have not completed nor have we contracted to have completed an investigation to identify and/or quantify the presence of non-tidal wetland conditions on the subject property. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 19. If the appraisal is for mortgage loan purposes 1) we assume satisfactory completion of improvements if construction is not complete, 2) no consideration has been given for rent loss during rent-up unless noted in the body of this report, and 3) occupancy at levels consistent with our"Income and Expense Projection" are anticipated. 20. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures which would render it more or less valuable. No responsibility is assumed for such conditions or for engineering which may be required to discover them. 21. Our inspection included an observation of the land and improvements thereon only. It was not possible to observe conditions beneath the soil or hidden structural components within the improvements. We inspected the buildings involved, and reported damage (if any) by termites, dry rot, wet rot, or other infestations as a matter of information, and no guarantee of the amount or degree of damage (if any) is implied. Condition of heating, cooling, ventilation, electrical and plumbing equipment is considered to be commensurate with the condition of the balance of the improvements unless otherwise stated. 22. This appraisal does not guarantee compliance with building code and life safety code requirements of the local jurisdiction. It is assumed that all required licenses, consents, certificates of occupancy or other legislative or administrative authority from any local, state or national governmental or private entity or organization have been or can be obtained or renewed for any use on which the value conclusion contained in this report is based unless specifically stated to the contrary. 23. When possible, we have relied upon building measurements provided by the client, owner, or associated agents of these parties. In the absence of a detailed rent roll, reliable public records, or "as-built" plans provided to us, we have relied upon our own measurements of the subject improvements. We follow typical appraisal industry methods; however, we recognize that some factors may limit our ability to obtain accurate measurements including, but not limited to, property access on the day of inspection, basements, fenced/gated areas, grade elevations, greenery/shrubbery, uneven surfaces, multiple story structures, obtuse or acute wall angles, immobile obstructions, etc. Professional building area measurements of the quality, level of detail, or accuracy of professional measurement services are beyond the scope of this appraisal assignment. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 11 Va i bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 >.>. PROPER-,Y/ADVISORS GENERAL ASSUMPTIONS&LIMITING CONDITIONS 24. We have attempted to reconcile sources of data discovered or provided during the appraisal process, including assessment department data. Ultimately, the measurements that are deemed by us to be the most accurate and/or reliable are used within this report. While the measurements and any accompanying sketches are considered to be reasonably accurate and reliable, we cannot guarantee their accuracy. Should the client desire a greater level of measuring detail, they are urged to retain the measurement services of a qualified professional (space planner, architect or building engineer). We reserve the right to use an alternative source of building size and amend the analysis, narrative and concluded values (at additional cost) should this alternative measurement source reflect or reveal substantial differences with the measurements used within the report. 25. In the absence of being provided with a detailed land survey, we have used assessment department data to ascertain the physical dimensions and acreage of the property. Should a survey prove this information to be inaccurate, we reserve the right to amend this appraisal (at additional cost) if substantial differences are discovered. 26. If only preliminary plans and specifications were available for use in the preparation of this appraisal, then this appraisal is subject to a review of the final plans and specifications when available (at additional cost) and we reserve the right to amend this appraisal if substantial differences are discovered. 27. Unless otherwise stated in this report, the value conclusion is predicated on the assumption that the property is free of contamination, environmental impairment or hazardous materials. Unless otherwise stated, the existence of hazardous material was not observed by the appraiser and the appraiser has no knowledge of the existence of such materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required for discovery. The client is urged to retain an expert in this field, if desired. 28. The Americans with Disabilities Act ("ADA") became effective January 26, 1992. We have not made a specific compliance survey of the property to determine if it is in conformity with the various requirements of the ADA. It is possible that a compliance survey of the property, together with an analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this could have a negative effect on the value of the property. Since we have no direct evidence relating to this issue, we did not consider possible noncompliance with the requirements of ADA in developing an opinion of value. 29. This appraisal applies to the land and building improvements only. The value of trade fixtures, furnishings, and other equipment, or subsurface rights (minerals, gas, and oil) were not considered in this appraisal unless specifically stated to the contrary. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 12 Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 GENERAL ASSUMPTIONS&LIMITING CONDITIONS PROPERTY ADVISORS 30. No changes in any federal, state or local laws, regulations or codes (including, without limitation, the Internal Revenue Code) are anticipated, unless specifically stated to the contrary. 31. Any income and expense estimates contained in the appraisal report are used only for the purpose of estimating value and do not constitute prediction of future operating results. Furthermore, it is inevitable that some assumptions will not materialize and that unanticipated events may occur that will likely affect actual performance. 32. Any estimate of insurable value, if included within the scope of work and presented herein, is based upon figures developed consistent with industry practices. However, actual local and regional construction costs may vary significantly from our estimate and individual insurance policies and underwriters have varied specifications, exclusions, and non-insurable items. As such, we strongly recommend that the Client obtain estimates from professionals experienced in establishing insurance coverage. This analysis should not be relied upon to determine insurance coverage and we make no warranties regarding the accuracy of this estimate. 33. The data gathered in the course of this assignment (except data furnished by the Client) shall remain the property of the Appraiser. The appraiser will not violate the confidential nature of the appraiser-client relationship by improperly disclosing any confidential information furnished to the appraiser. Notwithstanding the foregoing, the Appraiser is authorized by the client to disclose all or any portion of the appraisal and related appraisal data to appropriate representatives of the Appraisal Institute if such disclosure is required to enable the appraiser to comply with the Bylaws and Regulations of such Institute now or hereafter in effect. 34. You and Valbridge Property Advisors I Mountain States Appraisal & Consulting, Inc. both agree that any dispute over matters in excess of $5,000 will be submitted for resolution by arbitration. This includes fee disputes and any claim of malpractice. The arbitrator shall be mutually selected. If Valbridge Property Advisors I Mountain States Appraisal & Consulting, Inc. and the client cannot agree on the arbitrator, the presiding head of the Local County Mediation & Arbitration panel shall select the arbitrator. Such arbitration shall be binding and final. In agreeing to arbitration, we both acknowledge that, by agreeing to binding arbitration, each of us is giving up the right to have the dispute decided in a court of law before a judge or jury. In the event that the client, or any other party, makes a claim against Mountain States Appraisal & Consulting, Inc. or any of its employees in connections with or in any way relating to this assignment, the maximum damages recoverable by such claimant shall be the amount actually received by Valbridge Property Advisors I Mountain States Appraisal & Consulting, Inc. for this assignment, and under no circumstances shall any claim for consequential damages be made. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 13 •Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 PROPER3Y ADVISORS GENERAL ASSUMPTIONS &LIMITING CONDITIONS 35. Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. shall have no obligation, liability, or accountability to any third party. Any party who is not the "client" or intended user identified on the face of the appraisal or in the engagement letter is not entitled to rely upon the contents of the appraisal without the express written consent of Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc.. "Client" shall not include partners, affiliates, or relatives of the party named in the engagement letter. Client shall hold Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. and its employees harmless in the event of any lawsuit brought by any third party, lender, partner, or part-owner in any form of ownership or any other party as a result of this assignment. The client also agrees that in case of lawsuit arising from or in any way involving these appraisal services, client will hold Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. harmless from and against any liability, loss, cost, or expense incurred or suffered by Valbridge Property Advisors I Mountain States Appraisal and Consulting,Inc. in such action, regardless of its outcome. 36. The Valbridge Property Advisors office responsible for the preparation of this report is independently owned and operated by Mountain States Appraisal and Consulting, Inc.. Neither Valbridge Property Advisors, Inc., nor any of its affiliates has been engaged to provide this report.Valbridge Property Advisors, Inc. does not provide valuation services, and has taken no part in the preparation of this report. 37. If any claim is filed against any of Valbridge Property Advisors, Inc., a Florida Corporation, its affiliates, officers or employees, or the firm providing this report, in connection with, or in any way arising out of, or relating to, this report, or the engagement of the firm providing this report, then (1) under no circumstances shall such claimant be entitled to consequential, special or other damages, except only for direct compensatory damages, and (2) the maximum amount of such compensatory damages recoverable by such claimant shall be the amount actually received by the firm engaged to provide this report. 38. This report and any associated work files may be subject to evaluation by Valbridge Property Advisors, Inc., or its affiliates, for quality control purposes. 39. Acceptance and/or use of this appraisal report constitutes acceptance of the foregoing general assumptions and limiting conditions. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 14 0:.,�. PROPER/Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 . CERTIFICATION Certification We certify that, to the best of our knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. We have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. 4. Paul Dehlin, MAI and Joe Corlett, MAI, SRA previously appraised the subject for the same client. This prior appraisal is identified by our file number ID02-14-0231 (effective date July 30, 2015). Paul Dehlin, MAI and Joe Corlett, MAI, SRA also performed an appraisal on ground contemplated for acquisition by the City of McCall Airport (adjacent to the airport). This appraisal is referenced by our file number ID02-14-0181-000 and is dated February 3, 2015. The reader is advised that Paul Dehlin has not performed any other professional services regarding the subject property within the past 3 years. Dan Spanfelner, RT and Joe Corlett, MAI, SRA previously appraised ground contemplated for acquisition by the City of McCall Airport as of February 15, 2013. This appraisal is identified by file number MS-8917-12. 5. We have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 6. Our engagement in this assignment was not contingent upon developing or reporting predetermined results. 7. Our compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 8. Our analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. 9. Neither Paul Dehlin nor Joe Corlett inspected the McCall Airport or the land sales presented in this report. Notwithstanding, the reader is advised that both Paul Dehlin, MAI or Joe Corlett have visited the McCall Airport and the neighborhoods of the various land sales on multiple occasions in the recent past. 10. No one provided significant real property appraisal assistance to the appraisers signing this certification. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 15 Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 PROPERTY ADVISORS CERTIFICATION 11. The reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. 12. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. 13. As of the date of this report, Paul Dehlin and Joe Corlett completed the continuing education program for Designated Members of the Appraisal Institute. 14. As of the date of this report, Paul Dehlin and Joe Corlett have completed the Standards and Ethics Education Requirement for Candidates/Practicing Affiliates of the Appraisal Institute. --7----) ',•✓•✓� yam`�.."'3'-"`'` { 1 Paul Dehlin, MAI G.Joseph Corlett, MAI, SRA Senior Appraiser Senior Managing Director Idaho, Certificate#CGA-343 Idaho, Certificate#CGA-7 Certificate Expires 09/09/2015 Certificate Expires 03/11/2016 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 16 Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 I . . PROPER Y ADVISORS ADDENDA 1 Addenda Glossary Engagement Letter Qualifications • Paul Dehlin, MAI - Senior Appraiser • Joe Corlett, MAI, SRA - Senior Managing Director Information on Valbridge Property Advisors Office Locations VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 17 ,, 1f Valbridge LAND RENT SURVEY-UPDATE APPRAISAL,15-0213-000 ADDENDA PROPERTY ADVISOR'S Glossary Definitions are taken from the Dictionary of Real Estate Appraisal, 5`h Edition (Dictionary), the Uniform Standards of Professional Appraisal Practice(USPAP)and Building Owners and Managers Association International(BOMA). Absolute Net Lease Building Rentable Area A lease in which the tenant pays all expenses including The sum of all floor rentable areas. Floor rentable area is structural maintenance, building reserves, and the result of subtracting from the gross measured area management;often a long-term lease to a credit tenant. of a floor the major vertical penetrations on that same (Dictionary) floor.It is generally fixed for the life of the building and Additional Rent is rarely affected by changes in corridor size or configuration.(BOMA) Any amounts due under a lease that is in addition to base rent. Most common form is operating expense Certificate of Occupancy (COO) increases.(Dictionary) A statement issued by a local government verifying that a newly constructed building is in compliance with all Amortization codes and may be occupied. The process of retiring a debt or recovering a capital investment, typically though scheduled, systematic Common Area (Public) Factor repayment of the principal; a program of periodic In a lease, the common area (public) factor is the contributions to a sinking fund or debt retirement fund. multiplier to a tenant's useable space that accounts for (Dictionary) the tenant's proportionate share of the common area As Is Market Value (restrooms, elevator lobby, mechanical rooms, etc.). The. public factor is usually expressed as a percentage and The estimate of the market value of real property in its ranges from a low of 5 percent for a full tenant to as current physical condition, use, and zoning as of the high as 15 percent or more for a multi-tenant floor. appraisal date.(Dictionary) Subtracting one (1) from the quotient of the rentable Base (Shell) Building area divided by the useable area yields the load (public) The existing shell condition of a building prior to the factor. At times confused with the "loss factor" which is installation of tenant improvements. This condition the total rentable area of the full floor less the useable varies from building to building, landlord to landlord, area divided by the rentable area.(BOMA) and generally involves the level of finish above the Common Area Maintenance (CAM) ceiling grid.(Dictionary) The expense of operating and maintaining common Base Rent areas;may or may not include management charges and The minimum rent stipulated in a lease.(Dictionary) usually does not include capital expenditures on tenant improvements or other improvements to the property. Base Year The year on which escalation clauses in a lease are CAM can be a line-item expense for a group of items based.(Dictionary) that can include maintenance of the parking lot and landscaped areas and sometimes the exterior walls of Building Common Area the buildings.CAM can refer to all operating expenses. The areas of the building that provide services to building tenants but which are not included in the CAM can refer to the reimbursement by the tenant to the rentable area of any specific tenant. These areas may landlord for all expenses reimbursable under the lease. include, but shall not be limited to, main and auxiliary Sometimes reimbursements have what is called an lobbies, atrium spaces at the level of the finished floor, administrative load. An example would be a 15 percent concierge areas or security desks, conference rooms, addition to total operating expenses, which are then lounges or vending areas food service facilities,health or prorated among tenants. The administrative load, also fitness centers, daycare facilities, locker or shower called an administrative and marketing fee, can be a facilities, mail rooms, fire control rooms, fully enclosed substitute for or an addition to a management fee. courtyards outside the exterior walls, and building core (Dictionary) and service areas such as fully enclosed mechanical or equipment rooms. Specifically excluded from building Condominium common areas are;floor common areas, parking spaces, A form of ownership in which each owner possesses the portions of loading docks outside the building line, and exclusive right to use and occupy an allotted unit plus major vertical penetrations.(BOMA) an undivided interest in common areas. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 18 Va I bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 ADDENDA PRUPLRTY ADVISORS • An adequate marketing effort will be made during A multiunit structure, or a unit within such a structure, the exposure time specified by the client; with a condominium form of ownership. (Dictionary) • Payment will be made in cash in U.S. dollars or in terms of financial arrangements comparable Conservation Easement thereto;and An interest in real property restricting future land use to • The price represents the normal consideration for preservation, conservation, wildlife habitat, or some the property sold, unaffected by special or creative combination of those uses. A conservation easement financing or sales concessions granted by anyone may permit farming, timber harvesting, or other uses of associated with the sale.(Dictionary) a rural nature to continue, subject to the easement. In some locations, a conservation easement may be Easement referred to as a conservation restriction.(Dictionary) The right to use another's land for a stated purpose. Contributory Value (Dictionary) The change in the value of a property as a whole, EIFS whether positive or negative, resulting from the addition Exterior Insulation Finishing System. This is a type of or deletion of a property component. Also called exterior wall cladding system. Sometimes referred to as deprival value in some countries.(Dictionary) dry-vit. Debt Coverage Ratio (DCR) Effective Date The ratio of net operating income to annual debt service The date at which the analyses, opinions, and advice in (DCR = NOI/Im),which measures the relative ability to a an appraisal, review, or consulting service apply. 2) In a property to meet its debt service out of net operating lease document, the date upon which the lease goes income.Also called Debt Service Coverage Ratio(DSCR). into effect.(Dictionary) A larger DCR indicates a greater ability for a property to withstand a downturn in revenue, providing an Effective Gross Income (EGI) improved safety margin for a lender.(Dictionary) The anticipated income from all operations of the real property after an allowance is made for vacancy and Deed Restriction collection losses and an addition is made for any other A provision written into a deed that limits the use of income.(Dictionary) land. Deed restrictions usually remain in effect when title passes to subsequent owners.(Dictionary) Effective Rent The rental rate net of financial concessions such as Depreciation periods of no rent during the lease term and above- or 1) In appraising, the loss in a property value from below-market tenant improvements(TIs).(Dictionary) any cause; the difference between the cost of EPDM an improvement on the effective date of the appraisal and the market value of the Ethylene Diene Monomer Rubber. A type of synthetic improvement on the same date. 2) In rubber typically used for roof coverings.(Dictionary) accounting,an allowance made against the loss Escalation Clause in value of an asset for a defined purpose and A clause in an agreement that provides for the computed using a specified method. adjustment of a price or rent based on some event or (Dictionary) index. e.g., a provision to increase rent if operating Disposition Value expenses increase; also called an expense recovery The most probable price that a specified interest in real clause or stop clause.(Dictionary) property is likely to bring under the following Estoppel Certificate conditions: A statement of material factors or conditions of which • Consummation of a sale within a exposure time another person can rely because it cannot be denied at specified by the client; a later date. In real estate, a buyer of rental property • The property is subjected to market conditions typically requests estoppel certificates from existing prevailing as of the date of valuation; tenants. Sometimes referred to as an estoppel letter. • Both the buyer and seller are acting prudently and (Dictionary) knowledgeably; • The seller is under compulsion to sell; Excess Land • The buyer is typically motivated; Land that is not needed to serve or support the existing • Both parties are acting in what they consider to be improvement. The highest and best use of the excess their best interests; land may or may not be the same as the highest and VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 19 t. Va I bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 ADDENDA best use of the improved parcel. Excess land may have Gross Building Area the potential to be sold separately and is valued The total constructed area of a building. It is generally separately.(Dictionary) not used for leasing purposes(BOMA) Expense Stop Gross Measured Area A clause in a lease that limits the landlord's expense The total area of a building enclosed by the dominant obligation, which results in the lessee paying any portion (the portion of the inside finished surface of the operating expenses above a stated level or amount. permanent outer building wall which is 50 percent or (Dictionary) more of the vertical floor-to-ceiling dimension, at the Exposure Time given point being measured as one moves horizontally 1) The time a property remains on the market. 2) The along the wall), excluding parking areas and loading estimated length of time the property interest being docks(or portions of the same)outside the building line. appraised would have been offered on the market prior It is generally not used for leasing purposes and is to the hypothetical consummation of a sale at market calculated on a floor by floor basis.(BOMA) value on the effective date of the appraisal; a Gross Up Method retrospective estimate based on an analysis of past A method of calculating variable operating expense in events assuming a competitive and open market. income-producing properties when less than 100 (Dictionary) percent occupancy is assumed. The gross up method Extraordinary Assumption approximates the actual expense of providing services An assumption, directly related to a specific assignment, to the rentable area of a building given a specified rate which, if found to be false, could alter the appraiser's of occupancy.(Dictionary) opinions or conclusions. Extraordinary assumptions Gross Retail Sellout presume as fact otherwise uncertain information about The sum of the appraised values of the individual units physical, legal,or economic characteristics of the subject in a subdivision,as if all of the units were completed and property; or about conditions external to the property available for retail sale, as of the date of the appraisal. such as market conditions or trends; or about the The sum of the retail sales includes an allowance for lot integrity of data used in an analysis.(Dictionary) premiums, if applicable, but excludes all allowances for Fee Simple Estate carrying costs.(Dictionary) Absolute ownership unencumbered by any other Ground Lease interest or estate, subject only to the limitations A lease that grants the right to use and occupy land. imposed by the governmental powers of taxation, Improvements made by the ground lessee typically eminent domain,police power,and escheat. (Dictionary) revert to the ground lessor at the end of the lease term. Floor Common Area (Dictionary) Areas on a floor such as washrooms, janitorial closets, Ground Rent electrical rooms, telephone rooms, mechanical rooms, The rent paid for the right to use and occupy land elevator lobbies,and public corridors.which are available according to the terms of a ground lease;the portion of primarily for the use of tenants on that floor.(BOMA) the total rent allocated to the underlying land. Full Service (Gross) Lease (Dictionary) A lease in which the landlord receives stipulated rent HVAC and is obligated to pay all of the property's operating Heating, ventilation, air conditioning. A general term and fixed expenses; also called a full service lease. encompassing any system designed to heat and cool a (Dictionary) building in its entirety. Going Concern Value Highest and Best Use • The market value of all the tangible and intangible The reasonably probable and legal use of vacant land or assets of an established and operating business an improved property that is physically possible, with an indefinite life, as if sold in aggregate; more appropriately supported, financially feasible, and that accurately termed the market value of the going results in the highest value. The four criteria the highest concern. and best use must meet are 1) legal permissibility, 2) • The value of an operating business enterprise. physical possibility, 3) financial feasibility, and 4) Goodwill may be separately measured but is an maximally profitability.Alternatively,the probable use of integral component of going-concern value when it land or improved —specific with respect to the user and exists and is recognizable.(Dictionary) VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 20 • �� jtr` v a i bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 `'"•'' `: PRoPER;r Acv s ks ADDENDA timing of the use—that is adequately supported and Lessor(Landlord) results in the highest present value.(Dictionary) One who conveys the rights of occupancy and use to Hypothetical Condition others under a lease agreement.(Dictionary) That which is contrary to what exists but is supposed for Liquidation Value the purpose of analysis. Hypothetical conditions assume The most probable price that a specified interest in real conditions contrary to known facts about physical, legal, property should bring under the following conditions: or economic characteristics of the subject property; or about conditions external to the property, such as Consummation of a sale within a short period. market conditions or trends; or about the integrity of The property is subjected to market conditions data used in an analysis.(Dictionary) prevailing as of the date of valuation. Both the buyer and seller are acting prudently and Industrial Gross Lease knowledgeably. A lease of industrial property in which the landlord and The seller is under extreme compulsion to sell. tenant share expenses. The landlord receives stipulated The buyer is typically motivated. rent and is obligated to pay certain operating expenses, • Both parties are acting in what they consider to be often structural maintenance, insurance and real estate their best interests. taxes as specified in the lease. There are significant • A normal marketing effort is not possible due to the regional and local differences in the use of this term. brief exposure time. (Dictionary) • Payment will be made in cash in U.S. dollars or in terms of financial arrangements comparable Insurable Value thereto. A type of value for insurance purposes.(Dictionary) • The price represents the normal consideration for (Typically this includes replacement cost less basement the property sold, unaffected by special or creative excavation, foundation, underground piping and financing or sales concessions granted by anyone architect's fees). associated with the sale.(Dictionary) Investment Value Loan to Value Ratio (LTV) The value of a property interest to a particular investor The amount of money borrowed in relation to the total or class of investors based on the investor's specific market value of a property.Expressed as a percentage of requirements. Investment value may be different from the loan amount divided by the property value. market value because it depends on a set of investment (Dictionary) criteria that are not necessarily typical of the market. (Dictionary) Major Vertical Penetrations Just Compensation Stairs, elevator shafts, flues, pipe shafts, vertical ducts, and the like, and their enclosing walls. Atria, lightwells In condemnation, the amount of loss for which a and similar penetrations above the finished floor are property owner is compensated when his or her included in this definition. Not included, however, are property is taken. Just compensation should put the vertical penetrations built for the private use of a tenant owner in as good a position as he or she would be if the occupying office areas on more than one floor. property had not been taken.(Dictionary) Structural columns,openings for vertical electric cable or Leased Fee Interest telephone distribution, and openings for plumbing lines are not considered to be major vertical penetrations. A freehold (ownership interest) where the possessory interest has been granted to another party by creation (BOMA) of a contractual landlord-tenant relationship (i.e., a Market Rent lease).(Dictionary) The most probable rent that a property should bring in a Leasehold Interest competitive and open market reflecting all conditions The tenant's possessory interest created by a lease. and restrictions of the lease agreement including (Dictionary) permitted uses, use restrictions, expense obligations; term, concessions, renewal and purchase options and Lessee (Tenant) tenant improvements(TIs).(Dictionary) One who has the right to occupancy and use of the property of another for a period of time according to a Market Value lease agreement.(Dictionary) The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is VALBRIDGE PROPERTY ADVISORS Mountain States Appraisal and Consulting,Inc. Page 21 Va f bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 HONERTY ADvISOks ADDENDA not affected by undue stimulus.Implicit in this definition Modified Gross Lease is the consummation of a sale as of a specified date and A lease in which the landlord receives stipulated rent the passing of title from seller to buyer under conditions and is obligated to pay some, but not all, of the whereby: property's operating and fixed expenses. Since a. Buyer and seller are typically motivated; assignment of expenses varies among modified gross b. Both parties are well informed or well advised, and leases, expense responsibility must always be specified. acting in what they consider their own best In some markets,a modified gross lease may be called a interests; double net lease, net net lease, partial net lease, or c. A reasonable time is allowed for exposure in the semi-gross lease.(Dictionary) open market; d. Payment is made in terms of cash in United States Operating Expense Ratio dollars or in terms of financial arrangements The ratio of total operating expenses to effective gross comparable thereto;and income (TOE/EGI); the complement of the net income e. The price represents the normal consideration for ratio, i.e.,OER = 1—NIR(Dictionary) the property sold unaffected by special or creative Option financing or sales concessions granted by anyone A legal contract, typically purchased for a stated associated with the sale. consideration, that permits but does not require the Market Value As If Complete holder of the option (known as the optionee) to buy, Market value as if complete means the market value of sell,or lease real property for a stipulated period of time the property with all proposed construction, conversion in accordance with specified terms; a unilateral right to or rehabilitation hypothetically completed or under exercise a privilege.(Dictionary) other specified hypothetical conditions as of the date of Partial Interest the appraisal. With regard to properties wherein anticipated market conditions indicate that stabilized Divided or undivided rights in real estate that represent occupancy is not likely as of the date of completion, this less than the whole(a fractional interest).(Dictionary) estimate of value shall reflect the market value of the Pass Through property as if complete and prepared for occupancy by A tenant's portion of operating expenses that may be tenants. composed of common area maintenance (CAM), real Market Value As If Stabilized estate taxes, property insurance,and any other expenses Market value as if stabilized means the market value of determined in the lease agreement to be paid by the the property at a current point and time when all tenant.(Dictionary) improvements have been physically constructed and the Potential Gross Income (PGI) property has been leased to its optimum level of long The total income attributable to real property at full term occupancy. occupancy before vacancy and operating expenses are Marketing Time deducted.(Dictionary) An opinion of the amount of time it might take to sell a Prospective Future Value Upon Completion real or personal property interest at the concluded Market value "upon completion" is a prospective future market value level during the period immediately after value estimate of a property at a point in time when all the effective date of the appraisal. Marketing time of its improvements are fully completed. It assumes all differs from exposure time, which is always presumed to proposed construction, conversion, or rehabilitation is precede the effective date of an appraisal. (Advisory hypothetically complete as of a future date when such Opinion 7 of the Standards Board of the Appraisal effort is projected to occur. The projected completion Foundation and Statement on Appraisal Standards No. date and the value estimate must reflect the market 6, "Reasonable Exposure Time in Real Property and value of the property in its projected condition, i.e., Personal Property Market Value Opinions" address the completely vacant or partially occupied. The cash flow determination of reasonable exposure and marketing must reflect lease-up costs, required tenant time).(Dictionary) improvements and leasing commissions on all areas not Master Lease leased and occupied. A lease in which the fee owner leases a part or the entire Prospective Future Value Upon Stabilization property to a single entity (the master lease) in return Market value "upon stabilization" is a prospective future for a stipulated rent. The master lessee then leases the value estimate of a property at a point in time when property to multiple tenants.(Dictionary) stabilized occupancy has been achieved. The projected stabilization date and the value estimate must reflect the VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 22 \'t V l bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 P OPER:`r ACVISORS ADDENDA absorption period required to achieve stabilization. In or subordinate, to the claims of another party. addition, the cash flows must reflect lease-up costs, (Dictionary) required tenant improvements and leasing commissions on all unleased areas. Substantial Completion Generally used in reference to the construction of tenant Replacement Cost improvements (TIs). The tenant's premises are typically The estimated cost to construct, at current prices as of deemed to be substantially completed when all of the the effective appraisal date, a substitute for the building TIs for the premises have been completed in accordance being appraised, using modern materials and current with the plans and specifications previously approved by standards,design,and layout.(Dictionary) the tenant. Sometimes used to define the Reproduction Cost commencement date of a lease. The estimated cost to construct, at current prices as of Surplus Land the effective date of the appraisal, an exact duplicate or Land that is not currently needed to support the existing replica of the building being appraised, using the same improvement but cannot be separated from the materials, construction standards, design, layout, and property and sold off. Surplus land does not have an quality of workmanship and embodying all of the independent highest and best use and may or may not deficiencies, super-adequacies, and obsolescence of the contribute value to the improved parcel.(Dictionary) subject building.(Dictionary) Triple Net(Net Net Net) Lease Retrospective Value Opinion A lease in which the tenant assumes all expenses (fixed A value opinion effective as of a specified historical date. and variable) of operating a property except that the The term does not define a type of value. Instead, it landlord is responsible for structural maintenance, identifies a value opinion as being effective at some building reserves, and management. Also called NNN, specific prior date. Value as of a historical date is triple net lease,or fully net lease.(Dictionary) frequently sought in connection with property tax appeals, damage models, lease renegotiation, deficiency (The market definition of a triple net lease varies; in judgments, estate tax, and condemnation. Inclusion of some cases tenants pay for items such as roof repairs, the type of value with this term is appropriate, e.g., parking lot repairs,and other similar items.) "retrospective market value opinion."(Dictionary) Usable Area Sandwich Leasehold Estate The measured area of an office area, store area or The interest held by the original lessee when the building common area on a floor. The total of all the property is subleased to another party; a type of usable areas or a floor shall equal floor usable area of leasehold estate.(Dictionary) that same floor. The amount of floor usable area can Sublease vary over the life of a building as corridors expand and An agreement in which the lessee(i.e.,the tenant) leases contract and as floors are remodeled.(BOMA) part or all of the property to another party and thereby Value-in-Use becomes a lessor.(Dictionary) The value of a property assuming a specific use, which Subordination may or may not be the property's highest and best use A contractual arrangement in which a party with a claim on the effective date of the appraisal. Value in use may or may not be equal to market value but is different to certain assets agrees to make his or her claim junior, conceptually.(Dictionary) VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 23 If Valbr�dge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 PROPER-Y - 11'; ADDENDA ,� Engagement Letter Paul Dehlin From: Nathan Coyle<ncoyle@mccall.id.us> Sent: Friday,September 11,2015 4:39 PM To: Joe , Cc: Paul Dehlin Subject: RE:Rent survey Hi Joe, Thanks for the follow-upon this.Indeed,we would be interested in a survey of split-rates(improved vs unimproved) along with provision of a recommendation of a split-rate for the airport in McCall.This would match the process utilized for the blended rate which you provided as a recommendation for the highest-best use of rents on the airport.If this matches your perceived intent,then please proceed with the work. ,, Nathan Coyle City Manager City of McCall Phone (208)634-1003 ncoylepuccall.id.us From:Joe[ma ilto:icorlett@appraiseidaho.com] i Sent Thursday,September 03,2015 2:57 PM To:Nathan Coyle<ncoyle@mccall.id.us> Cc:Paul Dehlin<pdehlin(tvalbridge.com> Subject Rent survey Hi Nathan, . After discussing a new survey with my associate,Paul Dehlin,I believe that we can complete an additional rental survey for airport sites based on split tier types of systems.It is our understanding that you need a survey on rental rates for improved as well as unimproved(by buildings)sites on other public-use airports.We can do a survey at a cost of around $3,750 in about 4-5 weeks.Since we have already done an assessment of the McCall airport,we should be able to interpret your rates as tiered for improved site areas vs unimproved leased land compared with other airports.Our conclusions would reflect the empirical data collected,and reflect only ratios for those airports.Our pervious rent study reflects what we consider to be the highest and best use rents on the McCall airport. Please let us know if this is the general direction that you want us to proceed. Thank you. Joe Corlett,MAI,SRA Senior Managing Director icorlettQvalbridoe.com t. 208-890-1819 Direct 208-336-1097 Ext.19 Office 1459 Tyrell Lane,Suite B Boise,Idaho 83706 IM Valbridge 1 4. VALBRIDGE PROPERTY ADVISORS i Mountain States Appraisal and Consulting,Inc. Page 24 Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 ADDENDA PROPERTY 4.; Paul Dehlin From: Nathan Coyle <ncoyle@mccall.id.us> Sent: Tuesday,October 27,2015 3:51 PM To: Paul Dehlin Cc: Joseph Corlett Subject: RE:Split Rate Survey Report Hi Paul, We can utilize the same physical address that you referenced below.The Park Street address is the formal mailing address we utilize across the city(it is the address of McCall's City Hall). I agree with the proposal to produce an"update appraisal''and to utilize conclusions/portions from the initial report as you mention below.This should provide a connected final product. Just let me know if you have any other questions that I might be able to assist with.Have a great night! Nathan Coyle City Manager City of McCall Phone (208)634-1003 ncoyle(aSrttccall.id.us From:Paul Dehlin[mailto:pdehlin@r.valbridge.corn] Sent Tuesday,October 27,2015 1:45 PM To:Nathan Coyle<ncoyle@mccallid.us> Cc:Joseph Corlett<jcorlett2valbridge_corn> Subject Split Rate Survey Report ,. Nathan,as your title has changed since the prior report(identified by our file number ID02-14-0231-000)we did for you, I am wondering if you have a new physical address to reference in this report? The prior report was delivered to you at 216 E.Park Street,McCall,Idaho. ' Also, it is my impression from your email that this report is intended to address only a survey of split rate land rent indications derived from the market as well as our conclusion for a split rate land rent estimate for the McCall Airport As such,I proposed that we produce this report as an"update appraisal"(as defined in Advisory Opinion 3 of : the Uniform Standards of Appraisal Practice)of the prior report(ID02-14-0231-000). By using this option,we can incorporate some portions of the prior report(like the blended land rent per square foot conclusion)by reference which allows us to satisfy the applicable reporting requirements by USPAP. .`, Please let us know if this is an acceptable presentation of the report. Paul Dehlin,MAI Senior Appraiser . pdehliri ft albridoe.corn Office 208 336-1097 ext.17 Cell 208 871-2703 Fax 208 345-1175 1459 Tyrell Lane,Suite B ,.. Boise,Idaho 83706 1 =; VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 25 Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 :,s.. PROPER T Y AcVrz,ORS ADDENDA Qualifications Qualifications of Paul Dehlin, MAI Senior Appraiser Valbridge Property Advisors I Mountain States Appraisal Inc. Independent Valuations for a Variable World State Certifications Membership/Affiliations: Member: Appraisal Institute - MAI Designation (since 2005) State of Idaho President of Southern Idaho Chapter of Appraisal Institute (2007) Board Member of Southern Idaho Chapter of Appraisal Institute (multiple occasions) Education Appraisal Institute & Related Courses: Standards of Professional Practice, Part A 1995 Bachelor of Business Admin. Standards of Professional Practice, Part B 1995 Boise State University Appraisal Procedures 1996 Associates of Science Appraisal Principles 1996 Boise State University Basic Income Capitalization 1996 Advanced Income Capitalization 1997 Highest& Best Use/Market Analysis 1997 Contact Details General Applications 1999 Report Writing/Valuation Analysis 2000 208-336-1097 (p) Advanced Sales Comparison &Cost Approaches 2001 208-345-1175 (0 Advanced Applications 2002 Other(transcript available on request) Valbridge Property Advisors Experience: I Mountain States Appraisal Senior Appraiser Inc. Valbridge Property Advisors I Mountain States Appraisal, Boise, ID 1459 Tyrell, (2014-Present) Suite B Senior Analyst Boise,ID 83703 Integra Realty Resources, Boise ID, (2006-2013) Acquisitions Analyst www.valbridge.com DBSI Discovery, Boise, Idaho (2005) pdehlin@valbridge.com Appraiser Knipe Janoush Knipe, Boise ID (1997—2004) Appraisal/valuation and consulting assignments include: office; light-industrial; retail, multi-family residential; service-commercial; special-purpose (convenience stores/fuel stations, carwashes, restaurants, health clubs, bowling alleys); Land (retail, office, light- industrial, multi-family, single-family, residential subdivision, etc.); other(lodging facilities, schools, churches, nurseries). VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 26 Va( rd gQ LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 ADDENDA • 3z, 8urtra tl of OCCupaasonal I.1atnnsr3'} Department of Self Governing Agouties • Plc M✓x9fl ntmied filet qNN the rirwe tf.t t.Id*Z.eelkotil arwl H+aeaitieb arsAt,"the We*and rules at Ch.Slava,l(Wane,*a oparate ar atm, �? CERTIFIED GENERAL APPRAISER PAUL OEHLIN Is59 TYRCLL LN STE 8 BOISE ID 83106 Tanta Cory CGA.343 0910912016 Cuter,IS(EL Numb., Expires • VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 27 4 „ Ya I bridge LAND RENT SURVEY-UPDATE APPRAISAL, 15-0213-000 ADDENDA Qualifications — G. Joseph Corlett, MAI, SRA Biographic Data Born in Nampa, Idaho; raised in Boise, Idaho. Summer employment as farm laborer, data processing assistant, and supply clerk for Bank of Idaho. After graduation from University of Idaho, full-time fee appraiser. Education Elementary School- Boise, Idaho High School-San Rafael Military Academy, San Rafael, California College- University of Idaho(Bachelor of Science Degree in Business, Major in Finance) - 1973 AIREA Appraisal Courses Passed (Since 1973) (Appraisal Institute): I-A Basic Appraisal Principles, Methods&Techniques-2 weeks I-B Capitalization Theory&Techniques-2 weeks II Urban Properties-2 weeks VII Industrial Properties- 1 week VIII Single-Family Residential Appraisal - 1 week Cap. III Capitalization Theory&Techniques, Part 3- 1 week- 1980 11-3 Standards of Prof. Practice - 1982, 1986, 1989, 1993 (#410/420), 1997, 2002 (#410), 1998, 2002 (#430), 2004 USPAP Update, 2005, 2007, 2009, 2011, 2013, 2014, 2015 VI Investment Analysis- 1984 X Market Analysis- 1987 301 Basic Capitalization- 1993 530 Advanced Sales Comparison and the Cost Approach—1997 Valuation of Conservation Easements (33 hrs. classroom)—2007 Appraisal Curriculum Overview(15 hrs.) -2010 University Courses: Principles of Real Estate The Appraisal of Real Estate Seminars: Graduate Realtors Institute Course 100 Regulatory Compliance and Idaho Law(1998) SREA Narrative Report Seminar on Income Producing Property Condominium Seminar R-2 Examination and Math Stat Finance- SREA AIREA Capitalization Workshop AIREA Feasibility Seminar SREA Instructor's Clinic, Course 101 - Purdue University Leasehold Seminar Hotel/Motel Seminar Money Markets Financial Institution Review Considerations(1998) FHLBB R-41B/C Seminars- 1986, 1987 Real Estate and Taxation Market Analysis Seminar- 1987 Professional Practice Seminar- 1986, 1991 SREA- Professional Practice- 1988 AIREA- Cash Equivalent Seminar- 1988 AIREA- Litigation Valuation- 1988 AIREA- Investment Analysis- 1989 AIREA-Applied Sales Comparison Approach- 1989 AIREA- Rates, Ratios and Reasonableness—1989 PSI, Inc. -Asbestos and Other Environmental Concerns- 1990 Environmental Law Issues, 1991 Appraisal Institute-Appraising Contaminated Properties- 1992 Appraisal Institute-Appraisal Review Seminar—1992 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 28 Va I bridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 PROPERTY ADVISORS ADDENDA Education, Cont'd. Appraisal Institute-ADA Seminar- 1993 Appraisal Institute- Report Writing Seminar- 1993 Appraisal Institute- DCF Analysis- 1993 Appraisal Institute- Understanding Limited Appraisals and Reporting Options- 1994 Appraisal Institute-Specialized Appraisal Issues- 1994 Appraisal Institute- Fair Lending and the Appraiser- 1996 The Signage Foundation for Communication Excellence, Inc. - Retail and Commercial Valuation and Evaluation Research and Techniques- 1996 Lincoln Institute-Valuing Land Affected by Conservation Easements- 1998 Appraisal Institute-Appraisal of Local Retail Properties- 1999 Appraisal Institute-The Electronic Appraisal Office- 1999 Appraisal Institute- Special Purpose Properties- 1999 Appraisal Institute-Appraisal Mapping Business Valuation-2000 Appraisal Institute- Federal Land Exchanges and Acquisitions -2000 Appraisal Institute-Attacking and Defending the Appraisal in Litigation -2000 Appraisal Institute-Appraisals in Eminent Domain—2001 Appraisal Institute-Appraisal of Non-conforming Properties—2001 Appraisal Institute- Real Estate Fraud Seminar-2001 Appraisal Institute- Privacy Seminar—2001 NBI- Real Estate Exchanges-2001 American Arbitration Association-Commercial Arbitrator II-2002 The Still Group—The Investment Real Estate Workshop—2003, 2006 Academy for Real Estate Careers—Core Continuing Education—2003 University of Idaho- Proximity Damages-2003 McKissock- Fair Housing—2004 Appraisal Institute-Distressed Properties—2004, 2010, 2012 NAR- Realtor Ethics—2004 Pioneer Real Estate School- Real Estate Law—2004 Pioneer Real Estate School- Brokerage Management—2004 IREC Core Commission Requirement—2006 Appraisal Institute UASFLA(Yellow Book) Seminar—2007 Evaluating Commercial Construction—2007 Business Practices and Ethics-2008 Appraisal Challenges: Declining Markets and Sales Concessions—2009 Wind Powered Electrical Generators—2010 Understanding Conservation Easements—2010 Loss Prevention for Real Estate Appraisers—2011 Valuing Commercial Green Buildings—2012 Appraisal Institute#833—Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets—2012 McKissock—Dirty Dozen, Development& Reporting—2014 Appraisal Institute—Business Practices & Ethics—2014 Prior Adjunct Appraisal Instructor—Boise State University Appraisal Institute—Advanced Computer Applications for Appraisers and Fractional Interest Valuation—2014 Appraisal Institute—The Discounted Cash Flow Model: Concepts, Issues and Apps. —2015 McKissock—Expert Witness for Commercial Appraisers-2015 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 29 Valbridge LAND RENT SURVEY-UPDATE APPRAISAL, 15-0213-000 ADDENDA Business Activities and Positions Fee appraiser and an owner of Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc., March 1976 to date.* Narrative report experience consists of appraising numerous commercial, industrial, and special-purpose properties. Currently appraising commercial, industrial, special use, subdivision properties, and income properties. Qualified expert witness in district and federal courts. Past Senior instructor for SREA Course 101. Affiliations and Memberships Appraisal Institute- Professional Designations, MAI, SRA Appraisal Institute, Southern Idaho Chapter-Vice President(1998)- President(1999) AIREA Chapter No. 55 President(1986); various local, regional, and national committees(1976-1991) Society of Real Estate Appraisers Chapter No. 157 Vice President(1976-1977 and 1978-1979); 1st Vice President(1980-1981); President(1981-1982) National Association of Realtors© Licensed Real Estate Broker- State of Idaho (DB-1660) Society of Real Estate Appraisers- National Young Advisory Council (1977 and 1979) Certified Appraiser- State of Oregon#C-000294 Appraisal Institute Director(1994-96) Appraisal Institute National Government Relations Committee(1998-2001) Commercial Pilot Multi &Single Engine/Land- Instruments Director- Emeritus Idaho Aviation Association-Treasure Valley Chapter Director- Idaho Aviation Hall of Fame Building Contractor's Association of Southwestern Idaho-Associate Council Chairman (1978) Vice President—Communications—Idaho Aviation Association Director- Idaho Aviation Foundation Accreditation As of the date of this report, I have completed the requirements of the continuing education program of the Appraisal Institute. Effective July 1, 1991, the State of Idaho implemented a mandatory program of licensing/certification of real estate appraisers. I have met the qualifications to appraise all types of real estate. My certification number is CGA-7. *Corlett Associates- May 1, 1974 to March, 1976. Major Clients Served U.S. Forest Service Seafirst Bank Wells Fargo Bank The Conservation Fund US Bank Bank of America Key Bank of Idaho Western Union Home Federal Bank State of Idaho Washington Federal Savings and Loan Federal National Mortgage Association D.L. Evans Bank City of Boise Bank of the Cascades Ada County Meridian Gold Textron Financial PERSI The Nature Conservancy Numerous private clients and corporations Comerica Bank Federal Aviation Administration Cal National Bank Mountain West Bank Bank of the West VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 30 • '11 Jr Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 ADDENDA •ROPERT Y ADVISORS Appraisal Emphasis Income-producing properties, including commercial, industrial, offices, shopping centers, and shop buildings; special-use properties, including subdivisions, factories, golf courses, wilderness ranches, and processing plants. Areas of Previous Experience Idaho - majority of counties California - Los Altos area Oregon - Eastern and Central counties Colorado - Grand Junction area Washington - Eastern Washington Montana - Great Falls area Nevada- Northern Nevada and Reno areas Wyoming - Jackson area Areas of Current Practice Idaho Oregon Bureau of Occupational Licenses Department of Self Governing Agencies The person named has met the requirements for licensure and is entitled under the laws and rules of the State of Idaho to operate as a(n) CERTIFIED GENERAL APPRAISER G JOSEPH CORLETT 1459 TYRELL LN STE B BOISEID 83706 z<<�. • Tana Cory CGA-7 03/11/2016 Chief, B.O.L. Number Expires VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 31 Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 RONE�, Yr�c��3scr�5 ADDENDA Information on Valbridge Property Advisors Valbridge covers the U.S. from coast to coast, and is one of the Top 3 national commercial real estate valuation and advisory services firms based on: • Total number of MAIs (163 on staff) • Total number of office locations (60 across the U.S.) • Total number of staff(600+ strong) Valbridge is owned by our local office leaders. Every Vabridge office is led by a senior managing director who holds the MAI designation of the Appraisal Institute. Valbridge services all property types, including: • Office • Industrial • Retail • Apartments/multifamily/senior living • Lodging/hospitality/recreational • Land • Special-purpose properties Valbridge welcomes single-property assignments as well as portfolio,multi-market and other bulk-property engagements. Specialty services include: • Portfolio valuation • REO/foreclosure evaluation • Real estate market and feasibility analysis • Property and lease comparables, including lease review • Due diligence • Property tax assessment and appeal-support services • Valuations and analysis of property under eminent domain proceedings • Valuations of property for financial reporting, including goodwill impairment, impairment or disposal of long-lived assets, fair value and leasehold valuations • Valuation of property for insurance, estate planning and trusteeship, including fractional interest valuation for gifting and IRS purposes • Cost segregation studies • Litigation support, including expert witness testimony • Business and partnership valuation and advisory services, including partial interests Independent Valuation for a Variable World VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 32 t'' Valbridge LAND RENT SURVEY—UPDATE APPRAISAL, 15-0213-000 - ADDENDA "OPERTY ADVISORS Office Locations ALABAMA FLORIDA LOUISIANA OHIO TEXAS Valbridge Property Advisors I Valbridge Property Advisors I Valbridge Property Advisors I Valbridge Property Advisors I Valbridge Property Advisors I Real Estate Appraisers,LLC Armalavage Valuation,LLC Argote,Derbes,Graham, Akron Appraisal Group,Inc. Dugger,Canaday,Grafe,Inc. 4732 Woodmere Boulevard 2240 Venetian Court Shuffield&Tatje,Inc. 1655 W.Market Street,Suite 130 111 Soledad,Suite 800 Montgomery,AL 36106 Naples.FL 34109 512 North Causeway Boulevard Akron,OH 44313 San Antonio,TX 78205 334-277-5077 phone 239-514-4646 phone Metairie,LA 70001 330-899-9900 phone 210-227-6229 phone 504-833-8234 phone Valbridge Property Advisors I Valbridge Property Advisors I Valbridge Property Advisors I ARIZONA Beaumont,Matthes&Church, 7607 Fern Avenue,Suite 104 Allgeier Company The Gerald A.Teel Company, Valbridge Property Advisors I Inc. Shreveport,LA 71105 9277 Centre Point Dr.,Suite 350 Inc. 603 Hillcrest Street 318-797-0543 phone West Chester.OH 45069 Two EnergySquare MJN Enterprises,Inc. Q 6061 E.Grant Road,Suite 121 Orlando,FL 32803 513-785-0820 phone 4849 Greenville Avenue,Ste 1495 Tucson,AZ 85712 407-839-3626 phone MARYLAND Dallas,TX 75206 520-321-0000 phone Valbridge Property Advisors I Valbridge Property Advisors 214-446-1611 phone Valbridge Property Advisors I Lipman Frizzell&Mitchell LLC 526 E.Superior Avenue Boyd,Schmidt&Brannum, Suite 455 974 Campbell Road,Suite 204 2711 Poinsettia Avenue 6240 Old Dobbin Lane.Suite 140 Cleveland,OH 44114 Houston,TX 77024 CALIFORNIA Columbia,MD 21045 Valbridge Property Advisors I West Palm Beach,FL 33407 410-423-2300 phone 216-367-9690 phone 713-467-5858 phone Michael Burger&Associates 561-833-5331 phone 4915 Calloway Drive,Suite 101 Valbridge Property Advisors Bakersfield,CA 93312 Valbridge Property Advisors I MASSACHUSETTS OKLAHOMA 2731 81st Street 661-587-1010 phone Broom,Moody,Johnson& Valbridge Property Advisors I Valbridge Property Advisors I Lubbock,TX 79423 Grainger,Inc. Bullock Commercial Appraisal, Walton Property Services,LLC 806-744-1188 phone Valbridge Property Advisors I 121 West Forsyth Street,#1000 LLC 6666 S.Sheridan Road.Suite 104 Cummings Appraisal Jacksonville,FL 32202 21 Muzzey Street.Suite 2 Tulsa.OK 74133 UTAH Group,Inc. 904-296-3000 phone Lexington,MA 02421 918-712-9992 phone Valbridge Property Advisors I 99 S.Lake Avenue,Suite 21 Valbridge Property Advisors I 781-652-0700 phone Free and Associates,Inc. 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Kingof Prussia.PA 19404 VIRGINIA 120 South 6th Street,Suite 1650 One North Market Street Minneapolis.MN 55402 215-545-1900 phone Valbridge Property Advisors I San Jose.CA 95113 IDAHO Axial Advisory Group,LLC 408-279-1520 phone Valbridge Property Advisors I 612-253-0650 phone 656 Independence Parkway.#220 Auble,Jolicoeur&Gentry,Inc. SOUTH CAROLINA Chesapeake.VA 23320 3160 Crow Canyon Place.#245 1875 N.Lakewood Drive,#100 NEVADA Valbridge Property Advisors I 757-410-1222 phone San Ramon,CA 94583 Coeur d'Alene.ID 83814 Valbridge Property Advisors I Atlantic Appraisals,LLC 925-327-1660 phone 208-292-2965 phone Lubawy&Associates,Inc. 1250 Fairmont Avenue 7400 Beaufont Springs Dr.,#300 3034 S.Durango Dnve,Suite 100 Mt.Pleasant.SC 29464 Richmond,VA 23225 Valbridge Property Advisors I Valbridge Property Advisors I Las Vegas,NV 89117 843-884-1266 phone 804-672-4473 phone Penner&Associates,Inc. Mountain States Appraisal 702-242-9369 phone 1370 N.Brea Boulevard.#255 &Consulting,Inc. 800 Main Street,Suite 220 4732 Longhill Road.Suite 3202 Fullerton,CA 92835 1459 Tyrell Lane,Suite B Hilton Head Island,SC 29926 Williamsburg,VA 23188 714-449-0852 phone Boise,ID 83706 NEW JERSEY 843-342-2302 phone 757-345-0010 phone 208-336-1097 phone Valbridge Property Advisors I Valbridge Property Advisors I Oxford Group Valbridge Property Advisors I WASHINGTON Ribacchi&Associates 2740 Route 10 West,Suite 204 Robinson Company Valbridge Property Advisors I 10301 Placer Lane,Suite 100 INDIANA Morns Plains.NJ 07950 610 N.Main Street Allen Brackett Shedd Sacramento.CA 95827 Valbridge Property Advisors I 973-970-9333 phone Greenville,SC 29601 419 Berkeley Avenue.Suite A 916-361-2509 phone Mitchell Appraisals,Inc. 864-233-6277 phone Fircrest,WA 98466 820 Fort Wayne Avenue 2052 Route 35,Suite 104 253-274-0099 phone Indianapolis,IN 46204 Wall Township,NJ 07719 COLORADO 317-687-2747 phone 732-807-3113 phone TENNESSEE 12320 NE 8th Street,Suite 200 Valbridge Property Advisors I Valbridge Property Advisors I Bellevue,WA 98005 Bristol Realty CounselorsIOWA NEW YORK R.K.Barnes&Associates,Inc. 425-450-4040 phone 5345 Arapahoe.Suite 7 112 Westwood Place,Suite 300 Boulder,CO 80303 Valbridge Property Advisors I Valbridge Property Advisors I Oxford GroupBrentwood.TN 37027 Valbridge Property Advisors 303-443-9600 phone Roy R.Fisher,Inc. 615-369-0670 phone Auble,Jolicoeur&Gentry,Inc. 2010 East 38th Street,Suite 201 424 West 33'Street,Suite 6303 N.Mullen Valbridge Property Advisors I Davenport.IA 52807 New York,NY 1001 S2okane Valley.Road 99206 Mountain West 563-355-6606 phone 212-268-1113 phone Valbridge Property Advisors I P 562 Highway 133 C&I Appraisal Services,Inc. 509-747-0999 phone 9 Y 6750 Poplar Avenue,Suite 706 Carbondale.CO 81623 KANSAS NORTH CAROLINA Memphis,TN 38138 7601 West Clearwater Avenue 970-340-1016 phone Valbridge Property Advisors I Valbridge Property Advisors I 901-753-6977 phone Suite 320 Shaner Appraisals,Inc. John Bosworth&Associates, Kennewick,WA 99336 10990 Quivira Road,Suite 100 LLC Valbridge Property Advisors I 509-221-1540 phone CONNECTICUT Overland Park.KS 66210 4530 Park Road,Suite 100 Meridian Realty Advisors,LLC Valbridge Property Advisors I 913-451-1451 phone Charlotte.NC 28209 213 Fox Road WISCONSIN Italia&Lemp,Inc. 704-376-5400 phone Knoxville,TN 37922 Valbridge Property Advisors I 6 Central Row,Third Floor 865-522-2424 phone Vitale Realty Advisors,LLC Hartford,CT 06103-2701 KENTUCKY Valbridge Property Advisors I 12660 W.North Avenue 860-246-4606 phone Valbridge Property Advisors Paramount Appraisal Brookfield,WI 53005 IAllgeier Company Group,Inc. 262-782-7990 phone 17 High Street,Suite 214 214 South 8th Street,Suite 200 412 E.Chatham Street Norwalk,CT 06851 Louisville,KY 40202 Cary,NC 27511 203-286-6520 phone 502-585-3651 phone 919-859-2666 phone VALBRIDGE PROPERTY ADVISORS 1 Mountain States Appraisal and Consulting,Inc. Page 33 Vaibridge PROPERTY ADVISORS Airport Tie Down and Land Rent Survey McCall Municipal Airport McCall Idaho, Valley County Idaho Report Date: February 27, 2015 � a6 • 3 *401 41. II ` �1� Alf l a, x FOR: City of McCall, Idaho Nathan Coyle Airport Manager 216 E. Park Street McCall, ID 83638 Client ID: NA Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. 1459 Tyrell Lane, Suite B Boise, ID 83706 208-336-1097 phone Valbridge File Number: 208-345-1175 fax ID02-14- 0231-000 va/bridge.corn . �� - 1459 Tyrer lane \IalbridgeSuite B Botse,ID 83706 "I PROPERTY ADVISORS 208-336-1097 phone Mountain States Appraisal& 208-345-1175 fax Consulting,Inc. valbridge.com February 27, 2015 Nathan Coyle Municipal Airport Manager City of McCall 216 E. Park Street McCall, Idaho, 83638 RE: Airport Tie Down and Land Rent Survey McCall Municipal McCall, Idaho Valbridge File ID02-14-0231-000 Dear Mr. Coyle In accordance with your request, we have prepared a report relative to the above referenced assignment. The client has requested that we provide an estimate of market rent (fee simple) for hangar land development space and market rent estimates (fee simple) for aircraft tie down rates for three general aircraft classifications including Jet, Single Engine, and Twin Engine relative to the subject property. To accomplish this, we conducted a survey of regional airport facilities (considered somewhat similar to the City of McCall Airport) to gather details pertaining to hangar land rental rates and aircraft tie down rental rates. We also analyzed land sales from the local market considered similar to the land situated on the McCall Airport that is being or will be used for hangar development. The reader is cautioned that the subject of this appraisal is described in very general terms as being those portions of the City of McCall Municipal Airport that are or will be used for aircraft tie down parking and/or hangar development. The reader is also advised that a clear identification of the various characteristics of the subject property components (i.e. individual hangar and tie down sizes, locations, configuration, count, etc.) were not available for consideration. Rather, it is our understanding that the McCall Airport is contemplating an expansion in the near term and that as part of this expansion, a portion of the existing and/or expanded airport will be allocated for aircraft tie down parking and hangar development. Because of the vague nature of the subject property identification, the reader is cautioned that the market land rental rate and tie down rental rate conclusions presented are necessarily subjective. VALIRIDOE PROPERTY ADVISORS:AKRON•ATLANTA•BATON ROUGE•BOISE•BOSTON•BOULDER•CENTRAL VALLEY CAICE:NTRAL COUNTIES•CHARLESTON•CHARLOTTE•CINCINNATI• COEUR D'ALENE•DALLAS-FORT WORTH•DAVENPORT•EAST LANSING•GREENVILLE•HARTFORD•HILTON HEAD•HOUSTON•INDIANAPOLIS•JACKSONVILLE•KANSAS CITY•KNOXVILLE• LAS VEGAS•LOS ANGELES•ORANGE COUNTY•LOUISVILLE•LUBBOCK•MEMPHIS•MILWAUKEE•MINNEAPOLIS•MONTEREY/CARMEL•MONTGOMERY•NAPLES•NASHVILLE•NEW ORLEANS• NORFOLKIVIRGINIA BEACH•NORWALK/STAMFORD•OLYMPIA•ORLANDO•PHILADELPHIA•PITTSBURGH•RALEIGH•RICHMOND•ROANOKE•SACRAMENTO•SALT LAKE CITY•SAN ANTONIO• SAN DIEGO•SAN FRANCISCO BAY AREAJEAST BAY•SAN FRANCISCO BAY AREA/SILICON VALLEY•SEATTLE•SHREVEPORT•SPOKANE•SOUTHERN UTAH•TAMPA/ST.PETERSBURG•TUCSON• TULSA•WASHINGTON DC/BALTIMORE Valbridge NATHAN COYLE CITY OF MCCALL,IDAHO „. PROPERTY ADVISORS Page 2 The analyses, opinions, and conclusions and prepared this report in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) of the Appraisal Foundation; the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute; and the requirements of our client as we understand them. The City of McCall is the client and sole intended user of this report. The intended use is for internal decision making purposes. The analysis and opinions reported herein are subject to the definitions, assumptions and limiting conditions, and certification contained in this report. No other users or uses were intended. Paul Dehlin, MAI and Joe Corlett, MAI, SRA performed an appraisal on ground contemplated for acquisition by the City of McCall Airport. This appraisal is referenced by our file number ID02-14- 0181-000 and is dated February 3, 2015. The reader is advised that Paul Dehlin has not performed any other professional services regarding the subject property within the past 3 years. Dan Spanfelner, RT and Joe Corlett, MAI, SRA previously appraised ground contemplated for acquisition by the City of McCall Airport as of February 15, 2013. This appraisal is identified by file number MS- 8917-12. The acceptance of this report is contingent on the following extraordinary assumptions and/or hypothetical conditions: Extraordinary Assumptions and Hypothetical Conditions: Because the client has requested we provide an analysis of land sales data relative to the portion of the airport allocated for hangar development, a number of assumptions were necessary and are summarized following: Extraordinary Assumptions: 1. We assume any contemplated hangar sites developed on the McCall Airport will be level and at grade, rectangular in shape, and have adequate vehicle access. 2. We assume any contemplated hangar sites developed on the McCall Airport will be relatively consistent with existing hangar sites on the airport. 3. We assume all hangar site areas on the McCall Airport are served by all public utilities. Hypothetical Conditions 1. The as if complete estimates are hypothetical in that they assume the ground being allocated for potential hangar development has been improved to a position that it can accommodate new hangar space(i.e. has been leveled, compacted, is at grade, paved, etc.). Our conclusions for the requested items are presented in the following table: • Valbridge NATHAN COYLE PROPERTY AD,.' :; . CITY OF MCCALL,IDAHO Page 3 CONCLUSION SUMMARY TABLE Item As Is Conclusion Hypothetical As If Complete Conclusion Land Rent/SF/Year(improved footprint leased area) $0.30 $0.30 land Rent/SF/Year(open leased area) $0.30 $0.30 Item As Is Conclusion Hypothetical As If Complete Conclusion Jet Tie Down Rate/Month $100 $100 Single Engine Tie Down Rate/Month $50 $50 Twin Engine Tie Down Rate/Month $75 $75 Effective Date February 27,2015 February 27,2015 Property Rigths Appraised Fee Simple Fee Simple Scenario As Is,Market Value As Is,Market Value The various conclusions and data ranges yielded by our research are presented in the body of this report to follow. This letter of transmittal is not considered valid if separated from this report, and must be accompanied by all sections of this report as outlined in the Table of Contents, in order for the opinions and conclusions set forth above to be valid. Respectfully submitted, Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. ...,<:;„")./Z , 2it Paul Dehlin, MAI G. Joseph Corlett, SRA, MAI Senior Appraiser Senior Managing Director Idaho, Certificate#CGA-343 Idaho, Certificate#CGA-7 Certificate Expires 09/09/2015 Certificate Expires 03/11/2016 ValbrldOOPge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 r> o�ec�Tv Anv;soczs TABLE OF CONTENTS Table of Contents Cover Page Letter of Transmittal Table of Contents i Introduction 1 General Subject Property Description 4 Aircraft Tie Down and Land Rent Survey 7 Analysis of Land Sales 17 General Assumptions and Limiting Conditions 26 Certification 32 Addenda 34 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page i Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 INTRODUCTION f>;.QPERTY ADVISORS Introduction Client and Other Intended Users The client in this assignment and intended user of this report is the City of McCall, Idaho. No other users were intended. Intended Use The intended use of this report is for internal decision making purposes. No other uses were intended. Type and Definition of Value Market Value is defined as follows: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: a. Buyer and seller are typically motivated; b. Both parties are well informed or well advised, and acting in what they consider their own best interests; c. A reasonable time is allowed for exposure in the open market; d. Payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto;and e. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. Fee Simple Estate Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat. (Dictionary) Valuation Scenarios and Effective Dates of Value We developed land rental rate and aircraft tie down rental rate opinions for the subject property under the following scenarios: VALUATION SCENARIOS Valuation Completed "As Is" Yes "As If Complete(Hypothetical)" Yes The subject currently contains some existing hangar space site and tie down space. Additionally, as noted previously, the city is contemplating an expansion of the airport. Exact details as to how much hangar space and tie down space will be added is unclear. As such, the reader is advised that the market rent estimate for hangar land and the tie down rent estimates developed in this report are reflective of the as is condition of the existing hangar ground space and the existing tie down areas. The same conclusions are applicable for the portions of the expansion area that will be allocated to VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 1 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADVISORS INTRODUCTION new hangar development and tie down areas under the hypothetical condition that the necessary site improvements to these areas are complete. Please refer to the Glossary in the Addenda section for further definitions of value type(s) employed in this report. Real Estate Identification No specific subject property is contemplated in this report. In general terms, the subject of this report comprises those portions of the City of McCall Municipal Airport that are or will be used for aircraft tie down parking and/or hangar development. Date of Report The date of this report is February 27, 2015, which is the same as the date of the letter of transmittal. Scope of Work This report summarizes the results of our survey of several regional airport facilities to gather details pertaining to aircraft tie down rental rates. It also includes analysis of several local land sales having characteristics considered somewhat similar to land on the McCall Airport being used (or that will be used) for hangar development. The research conducted in this report entailed phone calls to the various airports surveyed in an attempt to gather information from a questionnaire developed with the assistance of the client. Additionally, we researched local land sales data using the Multiple Listings Service to the McCall area. The land sales were confirmed with at least one of the agents involved and the details of the land sales were researched with officials at the Valley County Assessment office. Finally, note that the McCall Airport and the various land sales were not physically inspected by either Paul Dehlin, MAI or Joe Corlett in conjunction with this report. Notwithstanding, the reader is advised that both Paul Dehlin, MAI or Joe Corlett, MAI. SRA have visited the McCall Airport and the neighborhoods of the various land sales on multiple occasions in the recent past. The results are then summarized in this report to a level anticipated acceptable by the client. Ownership and Sales History To the best of our knowledge, ownership of the subject property has been held by the City of McCall in excess of 3 years and is not listed for sale or subject to any pending sale transactions or options to purchase. List of Items Requested but Not Provided No items were requested from the client and ultimately not provided in conjunction with this assignment. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 2 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 "+l fl rfJ • r PROPERTY ADVISORS INTRODUCTION Extraordinary Assumptions and Hypothetical Conditions Extraordinary Assumptions: 1. We assume any contemplated hangar sites developed on the McCall Airport will be level and at grade, rectangular in shape, and have adequate vehicle access. 2. We assume any contemplated hangar sites developed on the McCall Airport will be relatively consistent with existing hangar sites on the airport. 3. We assume all hangar site areas on the McCall Airport are served by all public utilities. Hypothetical Conditions 1. The as if complete estimates are hypothetical in that they assume the ground being allocated for potential hangar development has been improved to a position that it can accommodate new hangar space(i.e. has been leveled, compacted, is at grade, paved, etc.) VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 3 AIRPORT TIE DOWN AND RENT SURVEY, 14-0231-000 6;; Valbridge GENERALLAND PROPERTY DESCRIPTION PROPERTY ADVISORS General Subject Property Description The subject of this appraisal comprises those areas of the City of McCall Idaho Municipal Airportthat are or will be used for aircraft tie down parking and/or hangar development. The airportis located along the west side of Highway 55 near the south periphery of McCall. Following, we present an aerial photo illustrating the general boundaries of the existing airport complex: ..1. fr y b.� ! �. fid. a t Y $ dr �� Z� 1 i!' T 1 � 44, tea . 3 ., 'It } 36 a'E�' •z $ a w ' ' -„.•,,t.!..7.s.-,°-" -- ., - , :5,I..: Li-i,..7-4 1F � , , :,,,,'; '...- ' , ...'" 1 '''-.;'r J A.. - ,,,'(4-)0At II t. b `a It is our understanding the city intends to expand the existing airport. The expansion is quite broad based including (but not limited to) a relocation of the taxi road, expansion of the runway, construction of a new terminal complex, allocation of multiple acres for new hangar development, and 3-acre car rental facility on the east side of the existing runway. The various changes to the airport associated with this expansion are anticipated to occur over an extended term including acquiring land and taxiway construction in 2015, environmental assessment and more land acquisition in 2016, apron rehabilitation and additional taxiway construction in 2017, updating of the Master Plan in 2018, acquiring of equipment and fencing in 2019, and acquiring snow removal equipment in 2020. Note that our understanding of the proposed expansion is based on af brief review of the McCall Airport Master Plan (MAMP) obtained in conjunction with a different assignment we completed relating to the McCall Airport. Following, we present a copy of the proposed Airport Layout Plan obtained from the City of McCall internet website: VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 4 0 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADV SOks GENERAL PROPERTY DESCRIPTION `€ R I AIRPORT LAYOUT PLAN G . _ - _ r I t 1, yam ax al o f , I.rior max- •I' w* !- y l�rr�l j}�;� > f..�ca, % K T ��F cj i P s 8 p pppI ,r„,.MAN 01C N!NGAYtRtNI,(: a L t1 1 1... ..t... ..- �.r ... .. ..rr An expanded view illustrating the hangar, Fixed Base Operator(FBO), and other areas of the airport is presented following: VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 5 V Ibridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 aone�rfY awists GENERAL PROPERTY DESCRIPTION 0 200 CO WO '200 I 11 tiaZiiaiA O __ " ' — h X11 �� ..i ✓ I } OIO 0 0 — w.as G' ta0 q 1 D I �I �rrri gra ,�v I II' ° nLiI � ` r_ .. i • r ,.. ' * t� ` �opgi.�us MAC ❑ �L1r .caM.� wo mwa Imam mama aamA L! 1 ❑ I �, • „ r `.--... ! ...a 1, p _ [ - I ,� ' . BCCI n •;.--.; �wo.w.®nim s�rw MUNK spa..�.n i k. * '<k ) I. t....4.,:::0;':, ate. ,I O❑• 0'000(—i; 1 '❑R a ` c coma No ; El .�- -- o cd cza n CI IMPOIRT AC ,.at , • _ As noted, the subject of this report comprises those areas of the City of McCall Idaho Municipal Airport that are or will be used for aircraft tie down parking and/or hangar development. No specific detail (beyond the preceding) with regard to hangar development or tie down space was available for consideration. Two purposes for this report were identified by our client. First, it was requested that we provide a tie down rate survey from other airport facilities around the region having locations considered somewhat similar to the subject. Second, the client requested we provide an analysis of land sales data and land capitalization rate data that is considered relevant to the subject to assist them in determining applicable land rental rates for hangar development. Because the client has requested we provide an analysis of land sales data relative to the portion of the airport allocated for hangar development, a number of assumptions were necessary and are summarized following: 1. We assume any contemplated hangar sites developed on the McCall Airport will be level and at grade, rectangular in shape, and have adequate vehicle access. 2. We assume any contemplated hangar sites developed on the McCall Airport will be relatively consistent with existing hangar sites on the airport. 3. We assume all hangar site areas on the McCall Airport are served by all public utilities. The allocated hangar ground is zoned by the City of McCall as AP (Airport). Given this observation, the preceding assumptions, and existing neighborhood development trends, we have concluded that land sales having similar development potential to that of the subject, have a highest and best use for light-industrial development. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 6 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 AIRCRAFT TIE DOWN AND LAND RENT SURVEY PROPERTY ADVISORS Aircraft Tie Down and Land Rent Survey Consistent with the client's request, following we present summary table containing the results of our survey of regional airport facilities regarding aircraft tie down rates and airplane hangar land rental rates: VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 7 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 • PROPERTY ADVISORS AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY Subject - 1 2 -- --- Airport Name McCall Municipal Airport Caldwell Industrial Airport Cascade Municipal Airport Address 336 Deinhard Lane 4814 E.Linden Street 118 North Main Street City,State McCall,ID Caldwell,ID Cascade,ID TIE DOWN RATES Airport or FRO Managed Airport Airport Airport Rate Division Aircraft type None None General Tie Down Rates let @$200/mo $3.40/day $60/mo Single Engine @$50/mo $16.98/mo No fee for short term stay Twin Engine @$75/mo Comment Discounts Seasonal Term May 1 to Nov.1 NA NA Seasonal Rate 25%discount for each category NA NA ____ Annual None NA NA Tie Down Count let:5;Twin:8:Single:97 55(not broken down) 24 Annual Land Rents Blended or Split Blended Blended Blended Current Annual Land Rent Improved $0.35/SF $0.147/SF $0.25/SF Typical Term 20 years 20 years _ 20 or 25 years Renewal Options four 5-year or two 10-year options 1 @ 20 years 1 @ 5 years Escalators Annual CPI escalators Annual CPI based escalators Annual CPI escalators Transfer Fee $1,000 or less(avg.$250+/-) None None Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Tenant controls Tenant controls Tenant controls If necessary,who pays to remove the hangar? Tenant required Tenant required Tenant to pay Does the airport ever buy hangars? Not likely(budget constraints) Not likely(city doesn't want to) Not likely If purchased,how is compensation determined? Via appraisal Compensation to be$1 NA Other,Questipm _ Tenant snow removal--paid by tenant or airport? Tenant paid Tenant paid City pays Airport snow removal charge(if any)? NA NA None Fuel Flowage Fees $.08/gallon None $0.04/gallon Source Nate Coyle,Airport Manager Kathy Schara,Admin.Secretary Ray Arnold,Manager PhoneB 208 634-1488 208 459-9779 208382-4844 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 8 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ,;Jf PROPERTY ADVISORS AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY 3 4 5 Airport Name Coeur d'Alene Airport/Pappy Driggs-Reed Memorial Airport Friedman Memorial Airport Boyington Field Address 10375 Sensor Ave 253 Warbird Lane 1616 Airport Circle City,State Hayden,ID Driggs,ID Halley,ID TIE DOWN RATES Airport or FBO Managed Airport FBO Airport&FBO Rate Division Weight Size Type General Tie Down Rates 0-7,500 lbs. @$30/mo (Overall range provided only) Airport rates divided by type 7,501-40,000 lbs.@$240/mo Class 1 @$150/mo Single Engine @$495/yr. 40,001-80,000 lbs.@$360/mo Class 9 @$900/mo Single w/lights @$742.50/yr. 80,000+lbs.@$600/mo Single w/lights&power @$990/yr. Class 1=Cessna 150 or similar Twin @$706/yr. Class 9=05 or similar Twin w/lights @$742.50/yr. Twin with lights @ power @$990/yr. FBO Rates: Single @$15/night Twin @$38/night Piston @$70/night Smaller jets @$115-$175/night Mid-sized jets @$175-$200/night Large jets @$200-$400/night Comment All tie down agreements require a 3 year lease agreement;Cancellation fee of$100;Sublease fee of$100 Discounts Seasonal Term Quarter 3 to 6 month lease terms offered None Seasonal Rate 10%discount Class 1 at @$120/mo to Class 9 @ NA $720/mo Annual 20%discount NA Tie Down Count 35 small aircraft tie downs;large 50(estimated) Unknown aircraft tie down count unknown Annual Land Rents Blended or Spilt Blended Blended Blended Current Annual Land Rent Improved $0.18/SF $0.225/SF Varies as follows: New construction rate is$2.10/SF Existing 0-2,000 SF is$2.17/SF Existing 2,000-3,000 is$4.18/SF Existing 3,000 SF+is$6.50/SF Typical Term 25.years 30 years 20 years ...... ..... .....------...._.— Renewal Options 25 years Five S-year renewal options 13 Escalators CPI based adjustments every 5 years Annual CPI based escalations Annual CPI based escalations Transfer Fee 200 None None Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Tenant controls Has not encountered this Reverts back tO the airport If necessary,who pays to remove the hangar? Unknown Tenant Has not encountered this situation Does the airport ever buy hangars? Unknown Possible No If purchased,how is compensation determined? Unknown Probably via appraisal NA Other Questions Tenant snow removal--paid by tenant or airport? Tenant City Tenant Airport snow removal charge(If any)? None $300/yr. NA Fuel Flowage Fees $.07/gallon None AvGas$0.10/gallon letA$0.12/gallon Source Linda Leigh,Admin.Secretary Kreslyn Schuehler,Driggs City Cecilia,Admin.Assistant Secretary and Cheyenne @ Teton Aviation FBO PhoneB 208 446-1860 208 354-2362 and 208 354-3100 Airport Admin 208 788-4956;FBO 208788-9511 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 9 !'1 Va I bridgeo AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 AIRCRAFT TIE DOWN AND LAND RENT SURVEY PROPERTY ,Dv fi <,, AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY 6 7 8 Airport Name Lewiston-Nez Perce County Sandpoint Airport Bozeman Yellowstone International Regional Airport Airport Address 406 Burrell Avenue 1100 Airport Way 850 Gallatin Field Rd. City,State Lewiston,ID Sandpoint,ID Bozeman,MT TIE DOWN RATES Airport or FBO Managed Airport _,_.,.. Airport .__. Airport Rate Division None None Weight General Tie Down Rates $5/day $6/day 0-12,500 lbs.@$10/day or$50/mo $30/mo $30/mo 12,500-30,000 lbs.@$10/day; ($20/mo for all local based planes) Comment - __ _.__. ____.......... ......... -_._...._ Discounts ___..__. .._...._ ......... _ Seasonal Term 3 months or 1 year NA NA Seasonal Rate 3 months at$25/mo. NA NA Annual ��$20/mo NA NA Tie Down Count 54 39 Unknown Annual Land Rents Blended or Split Blended Blended Blended Current Annual Land Rent Improved $0.22/SF $0.18/SF to$0.45/SF $0.10/SF Typical Term 20 yrs. 30 years 10 years Renewal Options 5 yrs. 1 at 20 years Source didn't know Escalators 12.5%every 5 years CPI based every 5 years with Source didn't know language allowing for rent adjustment based on market conditions changes if applicable Transfer Fee None None Not necessarily,case by case basis Reversionary Hamar Clause Questions What happens to the hangar at lease expiration? Tenant controls Reverts back to the county Renew or sell If necessary,who pays to remove the hangar? Has not encountered this situation Tenant required to maintain hangar Tenant Does the airport ever buy hangars? No Yes,can happen Has not encounter this If purchased,how is compensation determined? NA Negotiated btwn buyer and seller NA Other Questions Tenant snow removal--paid by tenant or airport? Airport Airport Airport Airport snow removal charge(if any)? None No None Fuel Flowage Fees None $.06/gallon Unknown Source Tye Harper Dave Schuck,Manager Meggie Moeller,Admin.Scott Humphry Manager Phone* 208 746-4471 208265-2266 406 388-8321 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 10 Val bridge AIRPORT TIE DOWN AND LAND RENT SURVEY,14-0231-000 r,offr `J AIRCRAFT TIE DOWN AND LAND RENT SURVEY PROPERTY ADV 'SO S AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY 9 10 11 Airport Name Mission Field Missoula International Airport Poison Airport Address Exit 340 from 1-90 Aviation Way Regatta Rd. ' City,State Livingston,MT Missoula,MT Poison,MT .............. TIE DOWN RATES _........._...-- .._Airport or FBO Managed _......__.........._Airport ......... FBO ............_amort__..._...._..._........................_.........._._-._._ Rate DivisionNone None None General Tie Down Rates Free ._..................._.........__.................._....._.... $d0/mo Free Comment Discounts - ----._. .. ....... __..__ _._�........_.....----.._......._. ._............__._.._._.._._....... _................_... _..... ......._.__._..-- Seasonal Term NA NA NA Seasonal Rate NA NA NA Annual NA NA NA Tie Down Count Unknown Unknown Unknown Annual Land Rents Blended or Split Blended FBO rents hangar space not land Blend Current Annual Land Rent Improved $0.17/SF $0.145/SF $0.20/SF Typical Term 40 years Typical Is 25 years(40 is max) 10 years Renewal Options 1 at 25 years 10 year renewal Escalators Rate re-evaluated every 3 years Rate evaluated annually with a 3% Evaluated every 5 years,and possibly cap escalated by$.05/5F Transfer Fee None No 40 Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Reverts back to the airport Tenant can remove,renew,or sell Usually renewed or sold If necessary,who pays to remove the hangar? NA Tenant Depends on situation Does the airport ever buy hangars? Has not encounter this No Do not have funds for this If purchased,how Is compensation determined? NA NA Other Questions Tenant snow removal--paid by tenant or airport? Airport Tenant pays on their property Tenant from hangar to ramp Airport snow removal charge(If any)? None NA Fuel Flowage Fees $0.05/gal $0.05/gal No Source Jerri Miller,Admin. Minuteman FBO and Airport Admln Bruce Agrella(manager) Office Phoned 406 222-5782 406728-9363 and(406)728-4381 406 249-8207 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 11 i,,,ii' Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY 12 13 ___..._. 14 Airport Name Ronan Airport St.Ignatius Airport Glacier National Park Airport Address Old US Hwy 93 Watson Rd 4170 Highway 2 East City,State Ronan,MT St.Ignatius,MT Kalispell,MT TIE DOWN RATES Airport or FBO Managed Airport Airport Airport Rate Division None None None General Tie Down Rates Free Free $45/mo Comment No discounts or other variation reported Discounts Seasonal Term NA NA NA Seasonal Rate NA NA NA Annual NA NA NA Tie Down Count Unknown Unknown Unknown • Annual Land Rents Blended or Split Blend Blend Blended Current Annual Land Rent Improved $0.20/SF $0.20/SF $0.40/SF _Typical Term ____ ______ 10 years 10 years __ 20 years _ Renewal Options 10 year renewal 10 year renewal Two @ 5-years each Escalators Evaluated every 5 years,and possibly Evaluated every 5 years,and possibly Annual CPI based escalations escalated by$.05/SF escalated by$.05/SF Transfer Fee 40 $40 none Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Usually renewed or sold Usually renewed or sold Reverts to airport or renew If necessary,who pays to remove the hangar? Depends on situation Depends on situation Tenant Does the airport ever buy hangars? Do not have funds for this Do not have funds for this Have not encountered this If purchased,how is compensation determined? Other Questions Tenant snow removal--paid by tenant or airport? Tenant from hangar to ramp Tenant from hangar to ramp Airport up to 6"to door Airport snow removal charge(if any)? Fuel Flowage Fees Only during fire season No $0.005/gallon Source Bruce Agrella(manager) Bruce Agrella(manager) Cindy,Administrative office Phone$ 406 249-8207 406 249-8207 406257-5994 _ VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 12 • Val bridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPER R Y A , SID tS ,. AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY 15 16 17 Airport Name Bend Municipal Airport Redmond Airport Pullman-Moscow Regional Airport Address 63136 Powell Butte Rd. 2522 Southeast Salmon Ave 3200 Airport Complex North City,State Bend,OR Redmond,OR Pullman,WA TIMM RATES _...._ Airport or FRO Manned Airport Ai —._ .....—_ Po Tort Airport RateDlvbion None Aircraft type Weight General Tie Down Rates $5 ... 541/mo Single @$5/night or$500 /mo Airplanes Twin @$8/night or$50/mo 0-12,500 lbs.@$5/night or Jet/helo @$10/night or$50/mo $56.43/mo or$366.76/yr.; 12,501-15,000 lbs.$10/night; 15,000-45,000 lbs.$15/night; 45,000+lbs.@$20/night; (12.501+lbs.per mo.&yr.treated case by case) Helicopters 0-4,000 lbs.@$10/night 4,001-6,000 @$15/night 6,001+@$20/night (Per mo.&yr.treated case by case) Comment No discounts or other variation No discounts or other variation reported reported • Illsmenli Seasonal Term NA __--Nq NA_. Seasonal Rate NA NA NA Annual NA__. NA _. _. NA Tie Down Count 50(estimate) Unknown Unknown Annual Land Rents Blended or Split Split includes a 10'setback area on Blended Blended sides and 20'out front Current Annual Land Rent Improved $0.29/SF;$0.27/SF on unimproved $0.32/SF $0.17/SF Typical Term _._ .........---.....--......_—_._. 30or45years _...._—......_ 10 years 25 Renewal Options _ ._..—............. _-.._ 2 @ 10-years each ..—_10..__.._._. Escalators 3%/year with re-evaluation every 5 CPI based escalations(some every 5 CPI based every 5 years,re-valuated years years,some every 7 years,some after 10 years(FM required) • annual) Transfer Fee $362 $500 none Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Tenant can renew,or remove Depends,older buildings transfer to Tenant renews or removes building otherwise it reverts to the airport the airport,newer buildings can be or reverts back to airport renewed If necessary,who pays to remove the hangar? Tenant Tenant Tenant Does the airport ever buy hangars? No Doesn't know of that happening No If purchased,how is compensation determined? Other Questions Tenant snow removal--paid by tenant or airport? Airport primarily Airport Tenant up to taxiway Airport snow removal charge(if any)? Fuel Flowage Fees $0.07/gallon $0.07/gallon $0.07 lon • /SaI Source Gary Judd(Manager) • Tammy Rohach office assistant Airport Manager Phone# 541389-0258 541 504-3497 (509)338-3223 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 13 Valbridge.t,0 AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ancaEar7 ADvIsoR AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY _..._ 18 19 20 Airport Name Felts Field Aviation Aspen Pitken Airport Durango/La Plata,Airport Address 5829 E Rutter Ave 0233 E Airport Road City,State Spokane,WA Aspen,CO Durance,CO... TIE DOWN RATES _...... _._..._......-_ ___...... ._ Airport or FBO Managed FBO Airport FBO Rate Division None Size Type General Tie Down Rates $30/mo Small @$521/mo Light Single CO$10 Medium&@$597/mo Light Twin @$54; Large @$655/mo Heavy Twin @$60; XLarge @$713/mo Turbo Prop tEl$200 XXLarge @$785/mo (all rates permit stay term of up to 2 XXXLarge @$939/mo weeks,additional term is negotiable with the FBO) Comment Discounts Seasonal Term NA NA NA Seasonal Rate NA ' NA NA Annual NA 1 NA NA Tie Down Count _.. _.. .._. Unknown • Unknown Unknown Annual Land Rents Blended or Split None available None available Blended Current Annual Land Rent Improved Source would not comment NA $0.24/SF Typical Term _ _ Source would not comment NA _ 30 years _ Renewal Options Source would not comment NA 2 5-year options Escalators Source would not comment NA CPI based every 5 years • Transfer Fee Source would not comment None None Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Source would not comment NA Tenant controls If necessary,who pays to remove the hangar? Source would not comment NA Tenant Does the airport ever buy hangars? Source would not comment - NA Unlikely If purchased,how is compensation determined? Source would not comment NA Other rues-tions Tenant snow removal--paid by tenant or airport? Source would not comment NA Tenant pays up to the aviation ramp Airport snow removal charge(if any)? Source would not comment NA Fuel Flowage Fees None Unknown $0.08/gallon Source Western Avionics(FB0)and Airport Bl Deherra Tony Vicari(Manager)An Flight FBO Manager(who did not answer some of the questions) _ Phone# 509 534-7371 970429-2850 970 259-7400&970382-6052 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 14 V lbrid[]e AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADVISORS AIRCRAFT TIE DOWN AND LAND RENT SURVEY AIRCRAFT TIE DOWN AND HANGAR LAND RENTAL RATE SURVEY 21 22 23 Airport Name Telluride Regional Airport Henderson Executive Airport Lake Tahoe Airport Address 1841 Airport Road City,State Telluride,CO Henderson,NV South Lake Tahoe,CA TIE DOWN RATES Airport or FBO Managed Airport Airport FRO Rate Division Per SF of Wingspan by fuselage Type Type General Tie Down Rates Piston$0.02/SF/night or Single @$45/mo Piston Single @$50/wk.or$60/mo $0.1044/SF/mo; Single(shaded)@$110/mo; Piston Twin @$55/wk.or$75/mo Jet$0.04/SF/night or$0.1203/SF/mo Multi-engine @$55/mo Turbo Prop @$200/wk.or$420/mo Multi-engine shaded @$125/mo Light let @$420/mo Medium Jet @$900/mo Large/Heavy Jet @$1,200/mo Transports @$2,400/mo Comment.... 6 month contract required Discounts Seasonal Term NA NA NA Seasonal Rate NA NA NA Annual NA NA NA Tie Down Count Unknown Unknown Unknown Annual Land Rents Blended or Split Blended No recent leases Airport rents hangars,does not have land tenants Current Annual Land Rent Improved $0.51/SF Not reported NA Typical Term 25 years 50 years typical NA Renewal Options _ 1 @ 25 years Not reported NA Escalators Rental Rate re-valuates every 5 years Not reported NA Transfer Fee None(holds first right of refusal) Varies on a number of factors None reported Reversionary Hangar Clause Questions What happens to the hangar at lease expiration? Reverts back to airport Would not disclose NA If necessary,who pays to remove the hangar? Tenant Would not disclose NA Does the airport ever buy hangars? Yes Would not disclose NA If purchased,how is compensation determined? Appraisal Would not disclose NA Other Questions Tenant snow removal--paid by tenant or airport? Airport up to 5'in front of door NA Airport Airport snow removal charge(If any)? None Fuel Flowage Fees $0.40/gallon Varies,would not disclose 0.11/gallon Source Richard Nuttal(manager) Admin. Admin. Phone# 970728-8601 702 261-4800 530 541-0480 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 15 Valbridge41AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 AIRCRAFT TIE DOWN AND LAND RENT SURVEY %. PROPERTY ADv,S0`6 Analysis of Tie Down Rates A broad range of tie down rate indications were presented in the preceding tables. Furthermore, the basis for which tie down rates are quoted ranges. Rates were quoted on the basis of aircraft type, weight, and size. Thus, the reader is advised that there is very little consistency to the data being analyzed. Following we present a table summarizing the implicit monthly rates for several airports considered relatively similar to the subject. Note that the rates presented in the following table are implicit in the cases where the actual rate was reported by weight or airplane class rather than by our classification of Jet, Single Engine, and Twin Engine. Airport Name McCall Cascade CDA Driggs Lewiston Sandpoint Bozeman Missoula Henderson Jet Monthly Rate $200 $60 $360 up to$900 $30 $30 $50 $40 Single Engine Monthly Rate $50 $60 $30 $150 $30 $30 $50 $40 $45-$110 Twin Engine Monthly Rate $75 $60 $30-$240 NA $30 $30 $50 $40 $55-$125 The first observation relevant to the tie down rates is that in some cases, the rate is the same regardless of aircraft classification, whereas, the Coeur d'Alene, Driggs, and Henderson airports have tiered rates. We note that several of the other airports in the comp table (presented previously) also have tiered rates similar to the subject quoted rates. In our opinion, tiered rate conclusions are appropriate because larger aircraft require more space on the airport. The rates for the Jet classification range from $30/month to $900/month with the bulk of the indications in the $30/month to $60/month range. Cascade, Sandpoint, Driggs, and Coeur d'Alene are concluded the most similar locations to the subject which bracket this range. The indications reported from the Driggs airport were somewhat vague in that an overall range of $150/month (for single-engine plans) to $900/month (for large jets) thus is not relied on. While one could argue, the subject is a highly desirable recreational location (thus suggesting a conclusion above the bulk of the range), it is interesting to note that there are several other similar locations offering much lower rates such as Sandpoint, Bozeman, Missoula, and Cascade. As such, our conclusion for this classification is made at $100/month somewhat below the reported rate for the subject in recognition of the lower rates offered by other airports in similar type communities in the general region. The rates for the Single Engine classification range from $30/month to $110/month with the bulk of the indications falling in the $30/month to $60/month range. Our conclusion for the subject for this classification is made at $50/month commensurate with the reported rates from the subject. The rates for the Twin Engine classification range from $30/month to $240/month with most falling in a narrowed range of $30/month to $60/month. As noted previously, a tiering of the various tie down rate conclusions is reasonable as larger aircraft require more space. As such, our conclusion for this classification is made at $75/month consistent with the rate quoted for the subject. The rate conclusions for the three classifications are presented following: Conclusions: Monthly Rate Jet: $100 Single Engine: $50 Twin Engine: $75 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 16 0,, Valbridge PROPERTY ADviSORS AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ANALYSIS OF LAND SALES Analysis of Land Sales Consistent with the client's request and in consideration of the discussion in the General Property Description section, five land sales are analyzed in the following section. These sales were selected as they have somewhat similar characteristics to the ground either being used or to be used for hangar development at the McCall Municipal Airport. These sales were analyzed consistent with our understanding of the client's request. Consideration of adjustments to the various sales is presented following: Unit of Co--:-.)a-soy. The unit of comparison depends on land use economics and how buyers and sellers use the property.The unit of comparison in this analysis is price per square foot. Elements of Comoar]son Elements of comparison are the characteristics or attributes of properties and transactions that cause the prices of real estate to vary. The main elements of comparison that are considered in sales comparison analysis are as follows: (1) expenditures made immediately after purchase, (2) real property rights conveyed, (3) financing terms, (4) conditions of sale, (5) market conditions, (6) location and (7) physical characteristics. Land Saes Data A search of data sources and public records, a field survey, interviews with knowledgeable real estate professionals in the area, as well as a review of our internal database was also conducted to obtain and verify comparable sales and listings of vacant land properties. The following table summarizes the land sales data analyzed and is followed by a map displaying the location of each sale. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 17 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ANALYSIS OF LAND SALES PROPERTY ADviSORS Comparable Land Sale Summation Table IDENTIFICATION Subject Comp 1 Comp 2 Name Address TBD Hwy 55 TBD Mission City&State McCall,ID McCall,ID McCall,ID Assessor Parcel No. RPM00000168022A RPM0217003014A PROPERTY DESCRIPTION Gross land size(Acre) Assumed about 0.10 to 1.25 2.04 0.29 Gross land size(SF) Assumed 4,356 SF to 54,450 SF 88,862 12,524 Zoning AP CC HBU or intended use Light-industrial Retail or service-commercial Light-industrial Configuration Assumed rectangular Generally rectangular Generally rectangular Topography Level and at grade Level and at grade Level and at grade Utilities Assumed all available All available All available Access Assumed adequate Good(Highway 55) Adequate(minor arterial) Comer/Interior Assumed Interior Interior Interior SALE INFORMATION Data source PD with loeEllen Yribar(agent)&MLS PD with Mike Maciaszek(agent)&MIS# #CC5149655 0517386S Seller Robert D.Collins Idaho Family LTD Partnership Buyer Katherine Marie Preble Ronald D.Dennis Marketing Time About 8 months About 1 month Effective Date or Sale date Nov-11 Sep-12 Price 5235,000 539,000 Adjustments Analyzed Price 5235,000 539,000 Sale Terms Assumed cash Cash Cash equivalent Sale Conditions Assumed typical Typical Typical Comments Highway fronting parcel situated on the Property comprises a single tax parcel in a east side of Highway 55(across from the light-industrial development entailing airport)between Pro Build and Best four lots(Lots 11-14 Block 3 Riverside Western McCall Lodge&Suites. MIS Sub). Source reported there were no notes,seller had recently adjusted the atypical conditions of sale and price was price by-50%prior to transaction but commensurate with market despite the conversations with the selling agent comment in the MLS write-up that it was indicated this price adjustment moved 18%below assessed value;however the price commensurate with market source reported that this was simply a conditions at the time of sale. Deed# marketing tool and the ultimate sale price 364693. was considered indicative of the market at the time of the sale. All utilities were in the road at the time of sale. Buyer currently uses the lot as outside storage. Deed#372348. FINANCIAL INDICATORS Price/SF 52.64 53.11 ELEMENTS OF COMPARISON Real Property Rights Conveyed Fee simple 0.00% 0.00% Adjusted Price/SF 52.64 53.11 Financing Terms 0.00% 0.00% Adjusted Price/SF 52.64 53.11 Conditions of Sale 0.00% 0.00% Adjusted Price/SF $2.64 $3.11 Market Conditions(time) Feb-15 39 29 Adjustment 12.50% 41.03% 30.34% Total Market Conditions Adj. 41.03% 30.34% Adjusted Price/SF 53.73 54.06 Location Characteristics -15.00% 0.00% Physical Characteristics 0.00% 0.00% Zoning Adjustments -15.00% 0.00% Other Adjustments 0.00% 0.00% ADJUSTED SALE PRICE/SF 52.61 54.06 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 18 Val bridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ;K. FaPEs�TY AD': ANALYSIS OF LAND SALES Comparable Land Sale Summation Table IDENTIFICATION Comp 3 Comp 4 Comp 5 Name Address Lot 27-29 Helmich Street Lots 8-9 Mission Street 308 N 3rd Street City&State McCall,ID McCall,ID McCall,ID Assessor Parcel No. RPM0217004029 RPM02170040080 &RPM02170040090 RPM00960020068A PROPERTY DESCRIPTION Gross land size(Acre) 0.20 0.14 0.19 Gross land size(SF) 8,712 6,011 8,424 Zoning I I CC HBU or intended use Light-industrial Light-industrial Retail or service-commercial Configuration Generally rectangular Generally rectangular Generally rectangular Topography Level and at grade Level and at grade Level and at grade Utilities All available All available All available Access Cumbersome(see comment) Adequate(minor arterial) Good Comer/Interior Interior Interior Interior SALE INFORMATION Data source PD with Michael Wood(agent)&MLS PD with Michael Wood(agent)&MLS PD with Ginnell Hellhake(agent(&MLS *98523295 *98523297 *98537618 Seller Holowitz Holowitz Fitzwater Buyer Robnett Joe&Daniel Swinford Not disclosed Marketing Time About 4 months About 6 months About 3 months Effective Date or Sale date Sep-13 Nov-13 Jan-14 Price $21,000 $20,000 $40,250 Adjustments V V V Analyzed Price $21,000 $20,000 $40,250 Sale Terms Cash Cash equivalent Cash equivalent Sale Conditions Typical Seller finance Typical Comments Site is second-tier location with dirt alley No atypical conditions of sale reported in Buyer is a speculative investor and owns access road that eventually will be a conjunction with seller financing. the adjacent property. Buyer purchased developed road. this property in part because this site and the adjacent parcel he owns(improved with a vacant generic commercial building)share a drive way. FINANCIAL INDICATORS Price/SF $2.41 $3.33 $4.78 ELEMENTS OF COMPARISON Real Property Rights Conveyed 0.00% 0.00% 0.00% Adjusted Price/SF $2.41 $3.33 $4.78 Financing Terms 0.00% 0.00% 0.00% Adjusted Price/SF $2.41 $3.33 $4.78 Conditions of Sale 0.00% 0.00% -10.00% Adjusted Price/SF $2.41 $3.33 $4.30 Market Conditions(time) 18 15 13 Adjustment 18.46% 16.10% 13.73% Total Market Conditions Adj. 18.46% 16.10% 13.73% Adjusted Price/SF $2.86 $3.86 54.89 Location Characteristics 15.00% 0.00% -15.00% Physical Characteristics 0.00% 0.00% 0.00% Zoning Adjustments 0.00% 0.00% -15.00% Other Adjustments 0.00% 0.00% 0.00% ADJUSTED SALE PRICE/SF $3.28 $3.86 $3.42 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 19 tt Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPE V ADVISORS OF LAND SALES LAND SALE MAP � paraairBwn pa ,.,�9 41. ° y. ,FLOYDE STI tv , — ' _.fir. ... w Golden Rv Park Mall Mauraain pew,ts. __ ild River Java 1.N Metall ID MCA) Taoc Maka', \,;filaturc's Designs DEINHARDLN6��'. DEI Cm t3allary Spa Dal Sold SumpYaga 1111 Studi. v W 5_ -„ ----.- Ameridnn Longa d Suitas w gf. o i \'Super 8 Mots! y ' S x, ji l JACOB ST Norsk Far* _ __ r ntam Haase' Yeae R I L q I— P N' p a) g 9 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 20 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ANALYSIS OF LAND SALES .vis•., PROPERTY ADVISORS Land Save Eel bts tF------ 3, ,ten f"' i $ € ii..31 aaR .v1 3vK - . , , 4. � 4f Wim.. 1 ; ,,,... . .. 4_, .10.1.......104,34r . Sale 1–TBD Hwy 55, McCall, ID Sale 2–TBD Mission, McCall,ID L ......._... , _,---, I------1- 17, itiiii ............- , I= . i _„ , a . ,, I al - ,, .5,1.5 1 7, I Sale 3— Lot 27 - 29 Helmich Street, McCall, ID Sale 4– Lots 8 - 9 Mission Street, McCall, ID Li Eihi ' I 1 , I 1 i ---\ \ Sale 5–308 N 3rd Street, McCall, ID VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 21 OValbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADVISORS ANALYSIS OF LAND SALES Land Sales Analysis Typical appraisal practice reflective of market value entails adjustments for items including the following: 1. Expenditures Made Immediately After Purchase 2. Real Property Rights Conveyed 3. Financing Terms 4. Conditions of Sale 5. Physical Characteristics 6. Location Characteristics As such, our discussion is categorized consistent with these elements of comparison. Expenditures Made Immedatey After Purchase No expenditures immediately after purchase for any of the sales were apparent. Real Property Rights Conveyed All of the sales are reflective of the fee simple estate. Financing Terms None of the sales appear to have been influenced by atypical financing conditions. Conditions of Sale According to the data source for Comp 5, the property was purchased by an investor for speculation purposes and assembled to the adjacent property. As such, it is possible the price was influenced upward to some degree for assemblage purposes. An adjustment of -10% was applied to this sale in recognition of this observation. market ,._„nd ions L'lange No direct pairings were found in the local market relative to the property classification that might be used to extract an adjustment indication for this element of comparison. Notwithstanding, reference to file data provides a range of market conditions adjustment indications derived from interviews and analysis of sales reported by the local MLS suggesting an adjustment for this element of comparison in the range of about 10.00% to 16.00%. As such, each of the sales were adjusted for market conditions changes at 12.50% per year between the sale date and the effective date of this report. Location Differences In our experience, lack of frontage and inconvenient access tends to have a downward influence on price. Comps 1 and 5 have the best frontage and access of the group and Comp 3 has the worst access and frontage. Adjustments of-15%were applied to Comp 3. Zoning and Neighborhood Differences Comps 1 and 5 are concluded superior to the subject with regard to this element of comparison. The zoning category and neighborhood development trends for these two land sales suggest their highest and best use is for retail or service-commercial which is concluded superior to that of the subject. As such, adjustments of-15%were applied to both in recognition of these differences. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 22 0V Ibridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PLTct rYovsys ANALYSIS OF LAND SALES Suggested Land Sale Price/SF Range After adjustment, the land sales analyzed suggest a range of indications from about $2.61 to $4.06 per square foot. Suggested Land Rent/SF Range Reference to confidential file data, provides an overall range of ground lease capitalization rates (from national credit tenant sales) of about 4.00% to 5.25%. The fact that these indications are reflective of national credit tenants suggests that this range sets the low end of the range relative to land used for hangar development on the McCall Airport. Reference to file data also provides build-to-suit agreements (for national credit tenant properties) providing ground lease rent ratios (rent divided by perceived value) of about 8.8% to 12.0%. These indications set the high end of the range and are quite different from the cap rate indications as they represent rent ratios the developer accepts on the ground for a contemplated build-to-suit project. Thus, they inherently include some level of profit in the rent thereby setting the upper end of the land rent range. Using the ratio from high end from the capitalization rate group, and the low end from the build-to- suit group the implicit land rent range is presented following: INDICATED LAND RENT RANGE SUMMARY TABLE Item Low High $/SF Indications $2.61 $4.06 X Ratio 5.25% 8.80% Implicit Rent Range $0.14 $0.36 The preceding analysis provides land rent indications derived from two methods. The first method entailed a survey of other regional airports regarding land rental rates charged for hangar development ground. The second method is summarized in the preceding table. Following we present a table summarizing the results of both methods. INDICATED LAND RENT RANGE SUMMARY TABLE Item Low High $/SF Indications $2.61 $4.06 X Ratio 5.25% 8.80% Implicit Rent Range $0.14 $0.36 Method Low High Range Suggested by Land Value&Land Cap Rates $0.14 $0.36 Regional Airport Survey $0.10 $0.51 Overall Range $0.10 $0.51 Land Rental Rate Conclusion for Subject There is no obvious consistent trend apparent with regard to the quoted land rental rates and the various characteristics of the comparable locations. The subject comprises airport land in a relatively VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 23 Valbrid0ge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 rROprRr�r Dv so< ANALYSIS OF LAND SALES small (just under 3,000 people) community whose economy is driven (to a large degree) by recreation and tourism. In our opinion, the most similar communities in the group (to the subject) and their corresponding land rental rate indications are summarized following: Location Land Rent Quoted Cascade, Idaho $0.25/SF Driggs, Idaho $0.225/SF Lewiston, Idaho $0.22/SF Sandpoint, Idaho $0.18/SF - $0.45/SF Pullman, WA $0.17/SF The quoted land rent for the subject is $0.35/SF which falls near the high end of the range suggested by the most similar communities. In our opinion, Sandpoint Idaho is the most similar market to the subject. The source from this comparable quoted a range of $0.18/SF to $0.45/SF; however, a clear midpoint indication from this comparable was not available. The implicit midpoint is about $0.315/SF, slightly below the quoted rate for the subject. As such, this method suggests it would be unreasonable for us to conclude to anything higher than the current rate for the subject. Furthermore, most of the indications fall in the $0.17/SF to $0.25/SF range including Driggs Idaho which is arguably a similar type community to that of McCall. A second indication can be derived from an analysis of the local land sale sales and the land rental rate comparable data. The local land sales analyzed previously provide a range of value indications from about $2.40/SF to just over $4.00/SF with four of the five indicators suggesting a conclusion between $3.25 and $4.00 per square foot (rounded to the nearest $0.25/SF increment). As noted, the land cap rates and rent ratio rates analyzed range from about 4.00% to 12.00%. The low end indicators are influenced by tenant credit strength and the high end indicators are influenced by the fact that they include some level of developer profit. As such, we conclude near the middle of the overall range at 7.5%. Using a land value estimate of $3.50/SF (which is admittedly subjective as there is no practical way of considering influence from size) and a rent ratio rate of 7.5% allows us to develop a second indication for the subject: $3.50/SF x.075 = $0.263 On a side note, the reader is advised that the $3.50/SF land value conclusion is only developed in this report as an interim step in developing a land rent estimate. This conclusion is based on the sales that experienced marketing periods of 3 to 8 months. Thus, this conclusion would require an exposure term of a similar term. Thus, from the preceding analysis, an overall range is suggested at $0.17/SF to $0.45/SF with the bulk of the indications falling in a narrowed range of about $0.17/SF to $0.263/SF including some from communities similar to the subject. Notwithstanding, the high end of the range is reportedly reflective of the more desirable on-site locations at the Sandpoint, Idaho airport, which is a very similar market as compared to McCall. Given that the subject has a very desirable recreational location a reasonable range for the subject in our opinion is from about $0.20/SF to $0.45/SF. Our conclusion is made at $0.30/SF. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 24 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 w PROPERTY }v.st�as ANALYSIS OF LAND SALES Conclusion Summary Consistent with the client's request, we developed market rent estimates (fee simple) for aircraft tie down rates for three general aircraft classifications including Jet, Single Engine, and Twin Engine relative to the subject property. To accomplish this, we conducted a survey of regional airport facilities (considered somewhat similar to the City of McCall Airport) to gather details pertaining to hangar land rental rates and aircraft tie down rental rates. We also analyzed land sales from the local market considered similar to the land situated on the McCall Airport that is being or will be used for hangar development. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 25 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADV;SORS GENERAL ASSUMPTIONS &LIMITING CONDITIONS General Assumptions and Limiting Conditions This appraisal is subject to the following limiting conditions: 1. The legal description—if furnished to us—is assumed to be correct. 2. No responsibility is assumed for legal matters, questions of survey or title, soil or subsoil conditions, engineering, availability or capacity of utilities, or other similar technical matters. The appraisal does not constitute a survey of the property appraised. All existing liens and encumbrances have been disregarded and the property is appraised as though free and clear, under responsible ownership and competent management unless otherwise noted. 3. Unless otherwise noted, the appraisal will value the property as though free of contamination. Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. will conduct no hazardous materials or contamination inspection of any kind. It is recommended that the client hire an expert if the presence of hazardous materials or contamination poses any concern. 4. The stamps and/or consideration placed on deeds used to indicate sales are in correct relationship to the actual dollar amount of the transaction. 5. Unless otherwise noted, it is assumed there are no encroachments, zoning violations or restrictions existing in the subject property. 6. The appraiser is not required to give testimony or attendance in court by reason of this appraisal, unless previous arrangements have been made. 7. Unless expressly specified in the engagement letter, the fee for this appraisal does not include the attendance or giving of testimony by Appraiser at any court, regulatory, or other proceedings, or any conferences or other work in preparation for such proceeding. If any partner or employee of Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. is asked or required to appear and/or testify at any deposition, trial, or other proceeding about the preparation, conclusions or any other aspect of this assignment, client shall compensate Appraiser for the time spent by the partner or employee in appearing and/or testifying and in preparing to testify according to the Appraiser's then current hourly rate plus reimbursement of expenses. 8. The values for land and/or improvements, as contained in this report, are constituent parts of the total value reported and neither is (or are) to be used in making a summation appraisal of a combination of values created by another appraiser. Either is invalidated if so used. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 26 41Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY nv soas GENERAL ASSUMPTIONS&LIMITING CONDITIONS 9. The dates of value to which the opinions expressed in this report apply are set forth in this report. We assume no responsibility for economic or physical factors occurring at some point at a later date, which may affect the opinions stated herein. The forecasts, projections, or operating estimates contained herein are based on current market conditions and anticipated short-term supply and demand factors and are subject to change with future conditions. 10. The sketches, maps, plats and exhibits in this report are included to assist the reader in visualizing the property. The appraiser has made no survey of the property and assumed no responsibility in connection with such matters. 11. The information, estimates and opinions, which were obtained from sources outside of this office, are considered reliable. However, no liability for them can be assumed by the appraiser. 12. Possession of this report, or a copy thereof, does not carry with it the right of publication. Neither all, nor any part of the content of the report, or copy thereof (including conclusions as to property value, the identity of the appraisers, professional designations, reference to any professional appraisal organization or the firm with which the appraisers are connected), shall be disseminated to the public through advertising, public relations, news, sales, or other media without prior written consent and approval. 13. No claim is intended to be expressed for matters of expertise that would require specialized investigation or knowledge beyond that ordinarily employed by real estate appraisers. We claim no expertise in areas such as, but not limited to, legal, survey, structural, environmental, pest control, mechanical, etc. 14. This appraisal was prepared for the sole and exclusive use of the client for the function outlined herein. Any party who is not the client or intended user identified in the appraisal or engagement letter is not entitled to rely upon the contents of the appraisal without express written consent of Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. and Client. The Client shall not include partners, affiliates, or relatives of the party addressed herein. The appraiser assumes no obligation, liability or accountability to any third party. 15. Distribution of this report is at the sole discretion of the client, but no third-parties not listed as an intended user on the face of the appraisal or the engagement letter may rely upon the contents of the appraisal. In no event shall client give a third-party a partial copy of the appraisal report. We will make no distribution of the report without the specific direction of the client. 16. This appraisal shall be used only for the function outlined herein, unless expressly authorized by Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc.. 17. This appraisal shall be considered in its entirety. No part thereof shall be used separately or out of context. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 27 llalbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADV SCR GENERAL ASSUMPTIONS&LIMITING CONDITIONS 18. Unless otherwise noted in the body of this report, this appraisal assumes that the subject property does not fall within the areas where mandatory flood insurance is effective. Unless otherwise noted, we have not completed nor have we contracted to have completed an investigation to identify and/or quantify the presence of non-tidal wetland conditions on the subject property. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 19. If the appraisal is for mortgage loan purposes 1) we assume satisfactory completion of improvements if construction is not complete, 2) no consideration has been given for rent loss during rent-up unless noted in the body of this report, and 3) occupancy at levels consistent with our"Income and Expense Projection" are anticipated. 20. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures which would render it more or less valuable. No responsibility is assumed for such conditions or for engineering which may be required to discover them. 21. Our inspection included an observation of the land and improvements thereon only. It was not possible to observe conditions beneath the soil or hidden structural components within the improvements. We inspected the buildings involved, and reported damage (if any) by termites, dry rot, wet rot, or other infestations as a matter of information, and no guarantee of the amount or degree of damage (if any) is implied. Condition of heating, cooling, ventilation, electrical and plumbing equipment is considered to be commensurate with the condition of the balance of the improvements unless otherwise stated. 22. This appraisal does not guarantee compliance with building code and life safety code requirements of the local jurisdiction. It is assumed that all required licenses, consents, certificates of occupancy or other legislative or administrative authority from any local, state or national governmental or private entity or organization have been or can be obtained or renewed for any use on which the value conclusion contained in this report is based unless specifically stated to the contrary. 23. When possible, we have relied upon building measurements provided by the client, owner, or associated agents of these parties. In the absence of a detailed rent roll, reliable public records, or "as-built" plans provided to us, we have relied upon our own measurements of the subject improvements. We follow typical appraisal industry methods; however, we recognize that some factors may limit our ability to obtain accurate measurements including, but not limited to, property access on the day of inspection, basements, fenced/gated areas, grade elevations, greenery/shrubbery, uneven surfaces, multiple story structures, obtuse or acute wall angles, immobile obstructions, etc. Professional building area measurements of the quality, level of detail, or accuracy of professional measurement services are beyond the scope of this appraisal assignment. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 28 Vaibridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 GENERAL ASSUMPTIONS&LIMITING CONDITIONS PROPERTY ADVISORS 24. We have attempted to reconcile sources of data discovered or provided during the appraisal process, including assessment department data. Ultimately, the measurements that are deemed by us to be the most accurate and/or reliable are used within this report. While the measurements and any accompanying sketches are considered to be reasonably accurate and reliable, we cannot guarantee their accuracy. Should the client desire a greater level of measuring detail, they are urged to retain the measurement services of a qualified professional (space planner, architect or building engineer). We reserve the right to use an alternative source of building size and amend the analysis, narrative and concluded values (at additional cost) should this alternative measurement source reflect or reveal substantial differences with the measurements used within the report. 25. In the absence of being provided with a detailed land survey, we have used assessment department data to ascertain the physical dimensions and acreage of the property. Should a survey prove this information to be inaccurate, we reserve the right to amend this appraisal (at additional cost) if substantial differences are discovered. 26. If only preliminary plans and specifications were available for use in the preparation of this appraisal, then this appraisal is subject to a review of the final plans and specifications when available (at additional cost) and we reserve the right to amend this appraisal if substantial differences are discovered. 27. Unless otherwise stated in this report, the value conclusion is predicated on the assumption that the property is free of contamination, environmental impairment or hazardous materials. Unless otherwise stated, the existence of hazardous material was not observed by the appraiser and the appraiser has no knowledge of the existence of such materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required for discovery. The client is urged to retain an expert in this field, if desired. 28. The Americans with Disabilities Act ("ADA") became effective January 26, 1992. We have not made a specific compliance survey of the property to determine if it is in conformity with the various requirements of the ADA. It is possible that a compliance survey of the property, together with an analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act.If so, this could have a negative effect on the value of the property. Since we have no direct evidence relating to this issue, we did not consider possible noncompliance with the requirements of ADA in developing an opinion of value. 29. This appraisal applies to the land and building improvements only. The value of trade fixtures, furnishings, and other equipment, or subsurface rights (minerals, gas, and oil) were not considered in this appraisal unless specifically stated to the contrary. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 29 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 GENERAL ASSUMPTIONS&LIMITING CONDITIONS ''..r.,.t PROPERTY 4Dv SOBS 30. No changes in any federal, state or local laws, regulations or codes (including, without limitation, the Internal Revenue Code) are anticipated, unless specifically stated to the contrary. 31. Any income and expense estimates contained in the appraisal report are used only for the purpose of estimating value and do not constitute prediction of future operating results. Furthermore, it is inevitable that some assumptions will not materialize and that unanticipated events may occur that will likely affect actual performance. 32. Any estimate of insurable value, if included within the scope of work and presented herein, is based upon figures developed consistent with industry practices. However, actual local and regional construction costs may vary significantly from our estimate and individual insurance policies and underwriters have varied specifications, exclusions, and non-insurable items. As such, we strongly recommend that the Client obtain estimates from professionals experienced in establishing insurance coverage. This analysis should not be relied upon to determine insurance coverage and we make no warranties regarding the accuracy of this estimate. 33. The data gathered in the course of this assignment (except data furnished by the Client) shall remain the property of the Appraiser. The appraiser will not violate the confidential nature of the appraiser-client relationship by improperly disclosing any confidential information furnished to the appraiser. Notwithstanding the foregoing, the Appraiser is authorized by the client to disclose all or any portion of the appraisal and related appraisal data to appropriate representatives of the Appraisal Institute if such disclosure is required to enable the appraiser to comply with the Bylaws and Regulations of such Institute now or hereafter in effect. 34. You and Valbridge Property Advisors I Mountain States Appraisal & Consulting, Inc. both agree that any dispute over matters in excess of $5,000 will be submitted for resolution by arbitration. This includes fee disputes and any claim of malpractice. The arbitrator shall be mutually selected. If Valbridge Property Advisors I Mountain States Appraisal & Consulting, Inc. and the client cannot agree on the arbitrator, the presiding head of the Local County Mediation & Arbitration panel shall select the arbitrator. Such arbitration shall be binding and final. In agreeing to arbitration, we both acknowledge that, by agreeing to binding arbitration, each of us is giving up the right to have the dispute decided in a court of law before a judge or jury. In the event that the client, or any other party, makes a claim against Mountain States Appraisal & Consulting, Inc. or any of its employees in connections with or in any way relating to this assignment, the maximum damages recoverable by such claimant shall be the amount actually received by Valbridge Property Advisors I Mountain States Appraisal & Consulting, Inc. for this assignment, and under no circumstances shall any claim for consequential damages be made. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 30 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADVISORS GENERAL ASSUMPTIONS&LIMITING CONDITIONS 35. Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. shall have no obligation, liability, or accountability to any third party. Any party who is not the "client" or intended user identified on the face of the appraisal or in the engagement letter is not entitled to rely upon the contents of the appraisal without the express written consent of Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc.. "Client" shall not include partners, affiliates, or relatives of the party named in the engagement letter. Client shall hold Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. and its employees harmless in the event of any lawsuit brought by any third party, lender, partner, or part-owner in any form of ownership or any other party as a result of this assignment. The client also agrees that in case of lawsuit arising from or in any way involving these appraisal services, client will hold Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. harmless from and against any liability, loss, cost, or expense incurred or suffered by Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc. in such action, regardless of its outcome. 36. The Valbridge Property Advisors office responsible for the preparation of this report is independently owned and operated by Mountain States Appraisal and Consulting, Inc.. Neither Valbridge Property Advisors, Inc., nor any of its affiliates has been engaged to provide this report. Vaibridge Property Advisors, Inc. does not provide valuation services, and has taken no part in the preparation of this report. 37. If any claim is filed against any of Valbridge Property Advisors, Inc., a Florida Corporation, its affiliates, officers or employees, or the firm providing this report, in connection with, or in any way arising out of, or relating to, this report, or the engagement of the firm providing this report, then (1) under no circumstances shall such claimant be entitled to consequential, special or other damages, except only for direct compensatory damages, and (2) the maximum amount of such compensatory damages recoverable by such claimant shall be the amount actually received by the firm engaged to provide this report. 38. This report and any associated work files may be subject to evaluation by Valbridge Property Advisors, Inc., or its affiliates, for quality control purposes. 39. Acceptance and/or use of this appraisal report constitutes acceptance of the foregoing general assumptions and limiting conditions. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 31 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 CERTIFICATION Certification We certify that, to the best of our knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. We have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. 4. Paul Dehlin, MN and Joe Corlett, MN, SRA performed an appraisal on ground contemplated for acquisition by the City of McCall Airport. This appraisal is referenced by our file number ID02-14-0181-000 and is dated February 3, 2015. The reader is advised that Paul Dehlin has not performed any other professional services regarding the subject property within the past 3 years. Dan Spanfelner, RT and Joe Corlett, MN, SRA previously appraised ground contemplated for acquisition by the City of McCall Airport as of February 15, 2013. This appraisal is identified by file number MS-8917-12. 5. We have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 6. Our engagement in this assignment was not contingent upon developing or reporting predetermined results. 7. Our compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 8. Our analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. 9. Neither Paul Dehlin nor Joe Corlett inspected the McCall Airport or the land sales presented in this report. Notwithstanding, the reader is advised that both Paul Dehlin, MAI or Joe Corlett have visited the McCall Airport and the neighborhoods of the various land sales on multiple occasions in the recent past. 10. No one provided significant real property appraisal assistance to the appraisers signing this certification. 11. The reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 32 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 j„ , PROPERTY ADVISOR` CERTIFICATION 12. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. 13. As of the date of this report, Paul Dehlin and Joe Corlett completed the continuing education program for Designated Members of the Appraisal Institute. 14. As of the date of this report, Paul Dehlin and Joe Corlett have completed the Standards and Ethics Education Requirement for Candidates/Practicing Affiliates of the Appraisal Institute. Paul Dehlin, MAI G. Joseph Corlett, SRA, MAI Senior Appraiser Senior Managing Director Idaho, Certificate#CGA-343 Idaho, Certificate#CGA-7 Certificate Expires 09/09/2015 Certificate Expires 03/11/2016 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 33 0Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADVISORS ADDENDA Addenda Glossary Engagement Letter Qualifications • Paul Dehlin, MAI - Senior Appraiser • Joe Corlett, MAI, SRA - Senior Managing Director Information on Valbridge Property Advisors Office Locations VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 34 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADVISORS ADDENDA Glossary Definitions are taken from the Dictionary of Real Estate Appraisal, 5th Edition (Dictionary), the Uniform Standards of Professional Appraisal Practice(USPAP)and Building Owners and Managers Association International (BOMA). Absolute Net Lease Building Rentable Area A lease in which the tenant pays all expenses including The sum of all floor rentable areas. Floor rentable area is structural maintenance, building reserves, and the result of subtracting from the gross measured area management;often a long-term lease to a credit tenant. of a floor the major vertical penetrations on that same (Dictionary) floor.It is generally fixed for the life of the building and Additional Rent is rarely affected by changes in corridor size or configuration.(BOMA) Any amounts due under a lease that is in addition to base rent. Most common form is operating expense Certificate of Occupancy (COO) increases.(Dictionary) A statement issued by a local government verifying that a newly constructed building is in compliance with all Amortization codes and may be occupied. The process of retiring a debt or recovering a capital investment, typically though scheduled, systematic Common Area (Public) Factor repayment of the principal; a program of periodic In a lease, the common area (public) factor is the contributions to a sinking fund or debt retirement fund. multiplier to a tenant's useable space that accounts for (Dictionary) the tenant's proportionate share of the common area (restrooms, elevator lobby, mechanical rooms, etc.). The As Is Market Value public factor is usually expressed as a percentage and The estimate of the market value of real property in its ranges from a low of 5 percent for a full tenant to as current physical condition, use, and zoning as of the high as 15 percent or more for a multi-tenant floor. appraisal date.(Dictionary) Subtracting one (1) from the quotient of the rentable Base (Shell) Building area divided by the useable area yields the load (public) The existing shell condition of a building prior to the factor. At times confused with the "loss factor" which is installation of tenant improvements. This condition the total rentable area of the full floor less the useable varies from building to building, landlord to landlord, area divided by the rentable area.(BOMA) and generally involves the level of finish above the Common Area Maintenance (CAM) ceiling grid.(Dictionary) The expense of operating and maintaining common Base Rent areas;may or may not include management charges and The minimum rent stipulated in a lease.(Dictionary) usually does not include capital expenditures on tenant improvements or other improvements to the property. Base Year The year on which escalation clauses in a lease are CAM can be a line-item expense for a group of items based.(Dictionary) that can include maintenance of the parking lot and landscaped areas and sometimes the exterior walls of Building Common Area the buildings.CAM can refer to all operating expenses. The areas of the building that provide services to building tenants but which are not included in the CAM can refer to the reimbursement by the tenant to the rentable area of any specific tenant. These areas may landlord for all expenses reimbursable under the lease. include, but shall not be limited to, main and auxiliary Sometimes reimbursements have what is called an lobbies, atrium spaces at the level of the finished floor, administrative load. An example would be a 15 percent concierge areas or security desks, conference rooms, addition to total operating expenses, which are then lounges or vending areas food service facilities, health or prorated among tenants. The administrative load, also fitness centers, daycare facilities, locker or shower called an administrative and marketing fee, can be a facilities, mail rooms, fire control rooms, fully enclosed substitute for or an addition to a management fee. courtyards outside the exterior walls, and building core (Dictionary) and service areas such as fully enclosed mechanical or equipment rooms. Specifically excluded from building Condominium common areas are;floor common areas, parking spaces, A form of ownership in which each owner possesses the portions of loading docks outside the building line, and exclusive right to use and occupy an allotted unit plus major vertical penetrations.(BOMA) an undivided interest in common areas. VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 35 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADVISORS ADDENDA • An adequate marketing effort will be made during A multiunit structure, or a unit within such a structure, the exposure time specified by the client; with a condominium form of ownership.(Dictionary) • Payment will be made in cash in U.S. dollars or in terms of financial arrangements comparable Conservation Easement thereto;and An interest in real property restricting future land use to • The price represents the normal consideration for preservation, conservation, wildlife habitat, or some the property sold, unaffected by special or creative combination of those uses. A conservation easement financing or sales concessions granted by anyone may permit farming, timber harvesting, or other uses of associated with the sale.(Dictionary) a rural nature to continue, subject to the easement. In some locations, a conservation easement may be Easement referred to as a conservation restriction.(Dictionary) The right to use another's land for a stated purpose. Contributory Value (Dictionary) The change in the value of a property as a whole, EIFS whether positive or negative, resulting from the addition Exterior Insulation Finishing System. This is a type of or deletion of a property component. Also called exterior wall cladding system. Sometimes referred to as deprival value in some countries.(Dictionary) dry-vit. Debt Coverage Ratio (DCR) Effective Date The ratio of net operating income to annual debt service The date at which the analyses, opinions, and advice in (DCR = NOI/Im),which measures the relative ability to a an appraisal, review, or consulting service apply. 2) In a property to meet its debt service out of net operating lease document, the date upon which the lease goes income.Also called Debt Service Coverage Ratio (DSCR). into effect.(Dictionary) A larger DCR indicates a greater ability for a property to withstand a downturn in revenue, providing an Effective Gross Income (EGI) improved safety margin for a lender.(Dictionary) The anticipated income from all operations of the real property after an allowance is made for vacancy and Deed Restriction collection losses and an addition is made for any other A provision written into a deed that limits the use of income.(Dictionary) land. Deed restrictions usually remain in effect when title passes to subsequent owners.(Dictionary) Effective Rent The rental rate net of financial concessions such as Depreciation periods of no rent during the lease term and above- or 1) In appraising, the loss in a property value from below-market tenant improvements(TIs).(Dictionary) any cause; the difference between the cost of EPDM an improvement on the effective date of the appraisal and the market value of the Ethylene Diene Monomer Rubber. A type of synthetic improvement on the same date. 2) In rubber typically used for roof coverings.(Dictionary) accounting,an allowance made against the loss Escalation Clause in value of an asset for a defined purpose and A clause in an agreement that provides for the computed using a specified method. adjustment of a price or rent based on some event or (Dictionary) index. e.g., a provision to increase rent if operating Disposition Value expenses increase; also called an expense recovery The most probable price that a specified interest in real clause or stop clause.(Dictionary) property is likely to bring under the following Estoppel Certificate conditions: A statement of material factors or conditions of which • Consummation of a sale within a exposure time another person can rely because it cannot be denied at specified by the client; a later date. In real estate, a buyer of rental property The property is subjected to market conditions typically requests estoppel certificates from existing prevailing as of the date of valuation; tenants. Sometimes referred to as an estoppel letter. • Both the buyer and seller are acting prudently and (Dictionary) knowledgeably; • The seller is under compulsion to sell; Excess Land The buyer is typically motivated; Land that is not needed to serve or support the existing • Both parties are acting in what they consider to be improvement. The highest and best use of the excess their best interests; land may or may not be the same as the highest and VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 36 ll Jr Va!bridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ,ROPERTY ADVISo ADDENDA best use of the improved parcel. Excess land may have Gross Building Area the potential to be sold separately and is valued The total constructed area of a building. It is generally separately.(Dictionary) not used for leasing purposes(BOMA) Expense Stop Gross Measured Area A clause in a lease that limits the landlord's expense The total area of a building enclosed by the dominant obligation, which results in the lessee paying any portion (the portion of the inside finished surface of the operating expenses above a stated level or amount. permanent outer building wall which is 50 percent or (Dictionary) more of the vertical floor-to-ceiling dimension, at the Exposure Time given point being measured as one moves horizontally 1) The time a property remains on the market. 2) The along the wall), excluding parking areas and loading estimated length of time the property interest being docks(or portions of the same)outside the building line. appraised would have been offered on the market prior It is generally not used for leasing purposes and is to the hypothetical consummation of a sale at market calculated on a floor by floor basis.(BOMA) value on the effective date of the appraisal; a Gross Up Method retrospective estimate based on an analysis of past A method of calculating variable operating expense in events assuming a competitive and open market. income-producing properties when less than 100 (Dictionary) percent occupancy is assumed. The gross up method Extraordinary Assumption approximates the actual expense of providing services An assumption, directly related to a specific assignment, to the rentable area of a building given a specified rate which, if found to be false, could alter the appraiser's of occupancy.(Dictionary) opinions or conclusions. Extraordinary assumptions Gross Retail Sellout presume as fact otherwise uncertain information about The sum of the appraised values of the individual units physical, legal,or economic characteristics of the subject in a subdivision,as if all of the units were completed and property; or about conditions external to the property available for retail sale, as of the date of the appraisal. such as market conditions or trends; or about the The sum of the retail sales includes an allowance for lot integrity of data used in an analysis.(Dictionary) premiums, if applicable, but excludes all allowances for Fee Simple Estate carrying costs.(Dictionary) Absolute ownership unencumbered by any other Ground Lease interest or estate, subject only to the limitations A lease that grants the right to use and occupy land. imposed by the governmental powers of taxation, Improvements made by the ground lessee typically eminent domain, police power,and escheat.(Dictionary) revert to the ground lessor at the end of the lease term. Floor Common Area (Dictionary) Areas on a floor such as washrooms, janitorial closets, Ground Rent electrical rooms, telephone rooms, mechanical rooms, The rent paid for the right to use and occupy land elevator lobbies,and public corridors which are available according to the terms of a ground lease;the portion of primarily for the use of tenants on that floor.(BOMA) the total rent allocated to the underlying land. Full Service (Gross) Lease (Dictionary) A lease in which the landlord receives stipulated rent HVAC and is obligated to pay all of the property's operating Heating, ventilation, air conditioning. A general term and fixed expenses; also called a full service lease. encompassing any system designed to heat and cool a (Dictionary) building in its entirety. Going Concern Value Highest and Best Use • The market value of all the tangible and intangible The reasonably probable and legal use of vacant land or assets of an established and operating business an improved property that is physically possible, with an indefinite life, as if sold in aggregate; more appropriately supported, financially feasible, and that accurately termed the market value of the going results in the highest value. The four criteria the highest concern. and best use must meet are 1) legal permissibility, 2) • The value of an operating business enterprise. physical possibility, 3) financial feasibility, and 4) Goodwill may be separately measured but is an maximally profitability.Alternatively,the probable use of integral component of going-concern value when it land or improved —specific with respect to the user and exists and is recognizable.(Dictionary) VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 37 Vaibridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ADDENDA PROPERTY ADY;SORS timing of the use—that is adequately supported and Lessor(Landlord) results in the highest present value.(Dictionary) One who conveys the rights of occupancy and use to Hypothetical Condition others under a lease agreement.(Dictionary) That which is contrary to what exists but is supposed for Liquidation Value the purpose of analysis. Hypothetical conditions assume The most probable price that a specified interest in real conditions contrary to known facts about physical, legal, property should bring under the following conditions: or economic characteristics of the subject property; or about conditions external to the property, such as Consummation of a sale within a short period. market conditions or trends; or about the integrity of The property is subjected to market conditions data used in an analysis.(Dictionary) prevailing as of the date of valuation. • Both the buyer and seller are acting prudently and Industrial Gross Lease knowledgeably. A lease of industrial property in which the landlord and • The seller is under extreme compulsion to sell. tenant share expenses. The landlord receives stipulated The buyer is typically motivated. rent and is obligated to pay certain operating expenses, Both parties are acting in what they consider to be often structural maintenance, insurance and real estate their best interests. taxes as specified in the lease. There are significant • A normal marketing effort is not possible due to the regional and local differences in the use of this term. brief exposure time. (Dictionary) • Payment will be made in cash in U.S. dollars or in terms of financial arrangements comparable Insurable Value thereto. A type of value for insurance purposes.(Dictionary) • The price represents the normal consideration for (Typically this includes replacement cost less basement the property sold, unaffected by special or creative excavation, foundation, underground piping and financing or sales concessions granted by anyone architect's fees). associated with the sale.(Dictionary) Investment Value Loan to Value Ratio (LTV) The value of a property interest to a particular investor The amount of money borrowed in relation to the total or class of investors based on the investor's specific market value of a property. Expressed as a percentage of requirements. Investment value may be different from the loan amount divided by the property value. market value because it depends on a set of investment (Dictionary) criteria that are not necessarily typical of the market. (Dictionary) Major Vertical Penetrations Stairs, elevator shafts, flues, pipe shafts, vertical ducts, Just Compensation and the like, and their enclosing walls. Atria, lightwells In condemnation, the amount of loss for which a and similar penetrations above the finished floor are property owner is compensated when his or her included in this definition. Not included, however, are property is taken. Just compensation should put the vertical penetrations built for the private use of a tenant owner in as good a position as he or she would be if the occupying office areas on more than one floor. property had not been taken.(Dictionary) Structural columns,openings for vertical electric cable or Leased Fee Interest telephone distribution, and openings for plumbing lines A freehold (ownership interest) where the possessory are not considered to be major vertical penetrations. interest has been granted to another party by creation (ROMA) of a contractual landlord-tenant relationship (i.e., a Market Rent lease).(Dictionary) The most probable rent that a property should bring in a Leasehold Interest competitive and open market reflecting all conditions The tenant's possessory interest created by a lease. and restrictions of the lease agreement including (Dictionary) permitted uses, use restrictions, expense obligations; term, concessions, renewal and purchase options and Lessee (Tenant) tenant improvements(TIs).(Dictionary) One who has the right to occupancy and use of the property of another for a period of time according to a Market Value lease agreement.(Dictionary) The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 38 Vaibridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY ADviSOR- ADDENDA not affected by undue stimulus.Implicit in this definition Modified Gross Lease is the consummation of a sale as of a specified date and A lease in which the landlord receives stipulated rent the passing of title from seller to buyer under conditions and is obligated to pay some, but not all, of the whereby: property's operating and fixed expenses. Since a. Buyer and seller are typically motivated; assignment of expenses varies among modified gross b. Both parties are well informed or well advised, and leases, expense responsibility must always be specified. acting in what they consider their own best In some markets,a modified gross lease may be called a interests; double net lease, net net lease, partial net lease, or c. A reasonable time is allowed for exposure in the semi-gross lease.(Dictionary) open market; d. Payment is made in terms of cash in United States Operating Expense Ratio dollars or in terms of financial arrangements The ratio of total operating expenses to effective gross comparable thereto;and income (TOE/EGI); the complement of the net income e. The price represents the normal consideration for ratio, i.e.,OER = 1—NIR(Dictionary) the property sold unaffected by special or creative Option financing or sales concessions granted by anyone A legal contract, typically purchased for a stated associated with the sale. consideration, that permits but does not require the Market Value As If Complete holder of the option (known as the optionee) to buy, Market value as if complete means the market value of sell, or lease real property for a stipulated period of time the property with all proposed construction, conversion in accordance with specified terms; a unilateral right to or rehabilitation hypothetically completed or under exercise a privilege.(Dictionary) other specified hypothetical conditions as of the date of Partial Interest the appraisal. With regard to properties wherein Divided or undivided rights in real estate that represent anticipated market conditions indicate that stabilized less than the whole(a fractional interest).(Dictionary) occupancy is not likely as of the date of completion,this estimate of value shall reflect the market value of the Pass Through property as if complete and prepared for occupancy by A tenant's portion of operating expenses that may be tenants. composed of common area maintenance (CAM), real Market Value As If Stabilized estate taxes, property insurance,and any other expenses Market value as if stabilized means the market value of determined in the lease agreement to be paid by the the property at a current point and time when all tenant.(Dictionary) improvements have been physically constructed and the Potential Gross Income (PGI) property has been leased to its optimum level of long The total income attributable to real property at full term occupancy. occupancy before vacancy and operating expenses are Marketing Time deducted.(Dictionary) An opinion of the amount of time it might take to sell a Prospective Future Value Upon Completion real or personal property interest at the concluded Market value "upon completion" is a prospective future market value level during the period immediately after value estimate of a property at a point in time when all the effective date of the appraisal. Marketing time of its improvements are fully completed. It assumes all differs from exposure time, which is always presumed to proposed construction, conversion, or rehabilitation is precede the effective date of an appraisal. (Advisory hypothetically complete as of a future date when such Opinion 7 of the Standards Board of the Appraisal effort is projected to occur. The projected completion Foundation and Statement on Appraisal Standards No. date and the value estimate must reflect the market 6, "Reasonable Exposure Time in Real Property and value of the property in its projected condition, i.e., Personal Property Market Value Opinions" address the completely vacant or partially occupied. The cash flow determination of reasonable exposure and marketing must reflect lease-up costs, required tenant time).(Dictionary) improvements and leasing commissions on all areas not Master Lease leased and occupied. A lease in which the fee owner leases a part or the entire Prospective Future Value Upon Stabilization property to a single entity (the master lease) in return Market value "upon stabilization" is a prospective future for a stipulated rent. The master lessee then leases the value estimate of a property at a point in time when property to multiple tenants.(Dictionary) stabilized occupancy has been achieved. The projected stabilization date and the value estimate must reflect the VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 39 xti'4{:1 e Va l bridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PPCP(PTY ou S�'4S ADDENDA , absorption period required to achieve stabilization. In or subordinate, to the claims of another party. addition, the cash flows must reflect lease-up costs, (Dictionary) required tenant improvements and leasing commissions on all unleased areas. Substantial Completion Generally used in reference to the construction of tenant Replacement Cost improvements (TIs). The tenant's premises are typically The estimated cost to construct, at current prices as of deemed to be substantially completed when all of the the effective appraisal date, a substitute for the building TIs for the premises have been completed in accordance being appraised, using modern materials and current with the plans and specifications previously approved by standards,design,and layout.(Dictionary) the tenant. Sometimes used to define the commencement date of a lease. Reproduction Cost The estimated cost to construct, at current prices as of Surplus Land the effective date of the appraisal, an exact duplicate or Land that is not currently needed to support the existing replica of the building being appraised, using the same improvement but cannot be separated from the materials, construction standards, design, layout, and property and sold off. Surplus land does not have an quality of workmanship and embodying all of the independent highest and best use and may or may not deficiencies, super-adequacies, and obsolescence of the contribute value to the improved parcel.(Dictionary) subject building.(Dictionary) Triple Net (Net Net Net) Lease Retrospective Value Opinion A lease in which the tenant assumes all expenses (fixed A value opinion effective as of a specified historical date. and variable) of operating a property except that the The term does not define a type of value. Instead, it landlord is responsible for structural maintenance, identifies a value opinion as being effective at some building reserves, and management. Also called NNN, specific prior date. Value as of a historical date is triple net lease,or fully net lease.(Dictionary) frequently sought in connection with property tax appeals,damage models, lease renegotiation, deficiency (The market definition of a triple net lease varies; in judgments, estate tax, and condemnation. Inclusion of some cases tenants pay for items such as roof repairs, the type of value with this term is appropriate, e.g., parking lot repairs,and other similar items.) "retrospective market value opinion."(Dictionary) Usable Area Sandwich Leasehold Estate The measured area of an office area, store area or The interest held by the original lessee when the building common area on a floor. The total of all the property is subleased to another party; a type of usable areas or a floor shall equal floor usable area of leasehold estate.(Dictionary) that same floor. The amount of floor usable area can Sublease vary over the life of a building as corridors expand and contract and as floors are remodeled.(BOMA) An agreement in which the lessee(i.e.,the tenant) leases part or all of the property to another party and thereby Value-in-Use becomes a lessor.(Dictionary) The value of a property assuming a specific use, which may or may not be the property's highest and best use Subordination on the effective date of the appraisal.Value in use may A contractual arrangement in which a party with a claim or may not be equal to market value but is different to certain assets agrees to make his or her claim junior, conceptually.(Dictionary) VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 40 4, AIRPORT TIE DOWN AND LAND RENT SURVEY,14-0231-000 L h0 Valbridge ADDENDA :QPL,kT v ADV<SOI1S Engagement Letter Joseph Corlett From: Nathan Coyle<ncoyle@mccall.id.us> Sent: Thursday,December 18,2014 11:23 AM To: Joseph Corlett Subject: RE:McCall Lease Rate Analysis Hi Joe;I have received a Purchase Order for completion of this work and believe we are ready to press ahead.The P041 for use on the invoice is 4627.I look forward to working through this process with you. Nathan Coyle Airport Manager City of McCall Phone (208)634-1488 ncoy1P9mccall_Id.us From:Joseph Corlett[nnarlte icor etteva tr dge,ani Sent:Tuesday,December 09,2014 3:22 PM To:Nathan Coyle Subject:RE:McCall Lease Rate Analysis Hi Nathan, I think that we can do the report for about$4,250.That would include the commercial land sales analyses for basing on- airport hangar pad rents. Thank you. Joe From: Nathan Coyle jioailtc i _. igitOnccall isisJ Sent: Friday, December 05,2014 4:10 PM To:Joseph Corlett Subject: McCall Lease Rate Analysis Hi Joe, I have reviewed your scope of work and had discussion among our AAC this week,and believe we are comfortable with only one change to the scope requested.McCall does not own/rent any hangars so the evaluation will simply be of land leasing/rental rates.All else looks good. if you don't mind passing along an estimate for the work I will review and coordinate as appropriate. Thanksagain for the assistance,and have a great weekend) Nathan Coyle Airport.Manager City of McCall Phone (208)634-1488 iic&y:Cs*1t(a'i l .tel-us VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 41 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PRQPE P?TY ADVISORS ADDENDA Qualifications Qualifications of Pau. C",,; , MAI Senior Appraiser Valbridge Property Advisors I Mountain States Appraisal Inc. Independent Valuations for a Variable World State Certifications Membership/Affiliations: Member:Appraisal Institute - MAI Designation (since 2005) State of Idaho President of Southern Idaho Chapter of Appraisal Institute (2007) Board Member of Southern Idaho Chapter of Appraisal Institute (multiple occasions) Education Appraisal Institute & Related Courses: Standards of Professional Practice, Part A 1995 Bachelor of Business Admin. Standards of Professional Practice, Part B 1995 Boise State University Appraisal Procedures 1996 Associates of Science Appraisal Principles 1996 Boise State University Basic Income Capitalization 1996 Advanced Income Capitalization 1997 Highest& Best Use/Market Analysis 1997 Contact `,eta '_ General Applications 1999 Report Writing/Valuation Analysis 2000 208-336-1097 (p) Advanced Sales Comparison &Cost Approaches 2001 208-345-1175 (f) Advanced Applications 2002 Other(transcript available on request) Valbridge Property Advisors Experience: I Mountain States Appraisal Senior Appraiser Inc. Valbridge Property Advisors I Mountain States Appraisal, Boise, ID 1459 Tyrell, (2014-Present) Suite B Senior Analyst Boise, ID 83703 Integra Realty Resources, Boise ID, (2006-2013) Acquisitions Analyst www.valbridge.corn DBSI Discovery, Boise, Idaho (2005) pdehlin@valbridge.com Appraiser Knipe Janoush Knipe, Boise ID (1997—2004) Appraisal/valuation and consulting assignments include: office; light-industrial; retail, multi-family residential; service-commercial; special-purpose (convenience stores/fuel stations, carwashes, restaurants, health clubs, bowling alleys); Land (retail, office, light- industrial, multi-family, single-family, residential subdivision, etc.); other(lodging facilities, schools, churches, nurseries). VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 42 AIRPORT TIE DOWN AND LAND RENT SURVEY14 YC � I�IC�E"� SURVEY, • Bureau of Occupational Licenses Department of Self Governing Agencies The person named has met the requirements for licensure and is entitled under the laws and rules of the State of Idaho to operate as a(n) CERTIFIED GENERAL APPRAISER PAUL DEHLIN 1459 TYRELL LN STE B BOISE ID 83706 g,4 '440 LI .. Tana Cory CGA-343 09/09/2015 Chief,B.Q.L. Number Expires VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 43 V lbridge AIRPORT TIE DOWN AND LAND RENT SURVEY,14-0231-000 PROPERTY ADVISORS ADDENDA ,,, af'Caticn G. Joseon Corett. MAI, SRA Biographic Data Born in Nampa, Idaho; raised in Boise, Idaho. Summer employment as farm laborer, data processing assistant, and supply clerk for Bank of Idaho. After graduation from University of Idaho, full-time fee appraiser. Education Elementary School- Boise, Idaho High School-San Rafael Military Academy, San Rafael, California College-University of Idaho (Bachelor of Science Degree in Business, Major in Finance)- 1973 AREA Appraisal Courses Passed (Since 1973) (Appraisal Institute): I-A Basic Appraisal Principles, Methods&Techniques-2 weeks I-B Capitalization Theory&Techniques-2 weeks II Urban Properties-2 weeks VII Industrial Properties- 1 week VIII Single-Family Residential Appraisal- 1 week Cap. III Capitalization Theory&Techniques, Part 3- 1 week- 1980 11-3 Standards of Prof. Practice - 1982, 1986, 1989, 1993 (#410/420), 1997, 2002 (#410), 1998, 2002 (#430), 2004 USPAP Update, 2005, 2007, 2009, 2011, 2013, 2014, 2015 VI Investment Analysis- 1984 X Market Analysis- 1987 301 Basic Capitalization- 1993 530 Advanced Sales Comparison and the Cost Approach—1997 Valuation of Conservation Easements(33 hrs. classroom)—2007 Appraisal Curriculum Overview(15 hrs.)-2010 University Courses: Principles of Real Estate The Appraisal of Real Estate Seminars: Graduate Realtors Institute Course 100 Regulatory Compliance and Idaho Law(1998) SREA Narrative Report Seminar on Income Producing Property Condominium Seminar R-2 Examination and Math Stat Finance-SREA AIREA Capitalization Workshop AIREA Feasibility Seminar SREA Instructor's Clinic, Course 101 -Purdue University Leasehold Seminar Hotel/Motel Seminar Money Markets Financial Institution Review Considerations(1998) FHLBB R-41B/C Seminars- 1986, 1987 Real Estate and Taxation Market Analysis Seminar- 1987 Professional Practice Seminar- 1986, 1991 SREA- Professional Practice- 1988 AIREA-Cash Equivalent Seminar- 1988 AIREA-Litigation Valuation - 1988 AIREA-Investment Analysis- 1989 AIREA-Applied Sales Comparison Approach - 1989 AIREA-Rates, Ratios and Reasonableness—1989 PSI, Inc. -Asbestos and Other Environmental Concerns- 1990 Environmental Law Issues, 1991 Appraisal Institute-Appraising Contaminated Properties- 1992 Appraisal Institute-Appraisal Review Seminar—1992 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 44 Va!bridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ADDENDA PROPERTY ADVISORS Education, Cont'd. Appraisal Institute-ADA Seminar- 1993 Appraisal Institute-Report Writing Seminar- 1993 Appraisal Institute-DCF Analysis- 1993 Appraisal Institute- Understanding Limited Appraisals and Reporting Options- 1994 Appraisal Institute-Specialized Appraisal Issues- 1994 Appraisal Institute-Fair Lending and the Appraiser-1996 The Signage Foundation for Communication Excellence, Inc. - Retail and Commercial Valuation and Evaluation Research and Techniques- 1996 Lincoln Institute-Valuing Land Affected by Conservation Easements- 1998 Appraisal Institute-Appraisal of Local Retail Properties- 1999 Appraisal Institute-The Electronic Appraisal Office- 1999 Appraisal Institute-Special Purpose Properties- 1999 Appraisal Institute-Appraisal Mapping Business Valuation-2000 Appraisal Institute-Federal Land Exchanges and Acquisitions-2000 Appraisal Institute-Attacking and Defending the Appraisal in Litigation-2000 Appraisal Institute-Appraisals in Eminent Domain—2001 Appraisal Institute-Appraisal of Non-conforming Properties—2001 Appraisal Institute-Real Estate Fraud Seminar-2001 Appraisal Institute-Privacy Seminar—2001 NBI-Real Estate Exchanges-2001 American Arbitration Association-Commercial Arbitrator II-2002 The Still Group—The Investment Real Estate Workshop—2003, 2006 Academy for Real Estate Careers—Core Continuing Education—2003 University of Idaho- Proximity Damages-2003 McKissock-Fair Housing—2004 Appraisal Institute-Distressed Properties—2004, 2010, 2012 NAR-Realtor Ethics—2004 Pioneer Real Estate School-Real Estate Law—2004 Pioneer Real Estate School-Brokerage Management—2004 IREC Core Commission Requirement—2006 Appraisal Institute UASFLA(Yellow Book) Seminar—2007 Evaluating Commercial Construction—2007 Business Practices and Ethics-2008 Appraisal Challenges: Declining Markets and Sales Concessions—2009 Wind Powered Electrical Generators—2010 Understanding Conservation Easements—2010 Loss Prevention for Real Estate Appraisers—2011 Valuing Commercial Green Buildings—2012 Appraisal Institute#833—Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets—2012 McKissock—Dirty Dozen, Development& Reporting—2014 Appraisal Institute—Business Practices& Ethics—2014 Prior Adjunct Appraisal Instructor—Boise State University Appraisal Institute—Advanced Computer Applications for Appraisers and Fractional Interest Valuation—2014 Appraisal Institute—The Discounted Cash Flow Model: Concepts, Issues and Apps.—2015 McKissock—Expert Witness for Commercial Appraisers-2015 VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 45 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ADDENDA PROPERTY ADVISORS Business Activities and Positions Fee appraiser and an owner of Valbridge Property Advisors I Mountain States Appraisal and Consulting, Inc., March 1976 to date.* Narrative report experience consists of appraising numerous commercial, industrial, and special-purpose properties. Currently appraising commercial, industrial, special use, subdivision properties, and income properties. Qualified expert witness in district and federal courts. Past Senior instructor for SREA Course 101. Affiliations and Memberships Appraisal Institute-Professional Designations, MAI, SRA Appraisal Institute, Southern Idaho Chapter-Vice President(1998)-President(1999) AIREA Chapter No. 55 President(1986); various local, regional, and national committees(1976-1991) Society of Real Estate Appraisers Chapter No. 157 Vice President(1976-1977 and 1978-1979); 1st Vice President(1980-1981); President(1981-1982) National Association of Realtors© Licensed Real Estate Broker-State of Idaho(DB-1660) Society of Real Estate Appraisers-National Young Advisory Council (1977 and 1979) Certified Appraiser-State of Oregon#C-000294 Appraisal Institute Director(1994-96) Appraisal Institute National Government Relations Committee(1998-2001) Commercial Pilot Multi & Single Engine/Land- Instruments Director-Emeritus Idaho Aviation Association-Treasure Valley Chapter Director-Idaho Aviation Hall of Fame Building Contractor's Association of Southwestern Idaho-Associate Council Chairman (1978) Vice President—Communications—Idaho Aviation Association Director-Idaho Aviation Foundation Accreditation As of the date of this report, I have completed the requirements of the continuing education program of the Appraisal Institute. Effective July 1, 1991, the State of Idaho implemented a mandatory program of licensing/certification of real estate appraisers. I have met the qualifications to appraise all types of real estate. My certification number is CGA-7. *Corlett Associates-May 1, 1974 to March, 1976. Major Clients Served U.S. Forest Service Seafirst Bank Wells Fargo Bank The Conservation Fund US Bank Bank of America Key Bank of Idaho Western Union Home Federal Bank State of Idaho Washington Federal Savings and Loan Federal National Mortgage Association D.L. Evans Bank City of Boise Bank of the Cascades Ada County Meridian Gold Textron Financial PERSI The Nature Conservancy Numerous private clients and corporations Comerica Bank Federal Aviation Administration Cal National Bank Mountain West Bank Bank of the West VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 46 ' .}4V !bridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 PROPERTY AD,. ADDENDA Appraisal Emphasis Income-producing properties, including commercial, industrial, offices, shopping centers, and shop buildings; special-use properties, including subdivisions, factories, golf courses, wilderness ranches, and processing plants. Areas of Previous Experience Idaho- majority of counties California- Los Altos area Oregon - Eastern and Central counties Colorado-Grand Junction area Washington - Eastern Washington Montana-Great Falls area Nevada-Northern Nevada and Reno areas Wyoming -Jackson area Areas of Current Practice Idaho Oregon Bureau of Occupational Licenses Department of Self Governing Agencies The person named has met the requirements for licensure and is entitled under the laws and rules of the State of Idaho to operate as a(n) CERTIFIED GENERAL APPRAISER G JOSEPH CORLETT 1459 TYRELL LN STE B BOISE ID 83706 r 7-11 Tana Cory CGA-7 03/11/2016 Chief, B.O.L. Number Expires VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 47 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ADDENDA PROPERTY AD'v;SORS Information on Valbridge Property Advisors Valbridge covers the U.S. from coast to coast, and is one of the Top 3 national commercial real estate valuation and advisory services firms based on: • Total number of MAIs (163 on staff) • Total number of office locations (60 across the U.S.) • Total number of staff(600+ strong) Valbridge is owned by our local office leaders. Every Vabridge office is led by a senior managing director who holds the MAI designation of the Appraisal Institute. Valbridge services all property types, including: • Office • Industrial • Retail • Apartments/multifamily/senior living • Lodging/hospitality/recreational • Land • Special-purpose properties Valbridge welcomes single-property assignments as well as portfolio,multi-market and other bulk-property engagements. Specialty services include: • Portfolio valuation • REO/foreclosure evaluation • Real estate market and feasibility analysis • Property and lease comparables, including lease review • Due diligence • Property tax assessment and appeal-support services • Valuations and analysis of property under eminent domain proceedings • Valuations of property for financial reporting, including goodwill impairment, impairment or disposal of long-lived assets, fair value and leasehold valuations • Valuation of property for insurance, estate planning and trusteeship, including fractional interest valuation for gifting and IRS purposes • Cost segregation studies • Litigation support, including expert witness testimony • Business and partnership valuation and advisory services, including partial interests Independent Valuation for a Variable World VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 48 fj f11 Valbridge AIRPORT TIE DOWN AND LAND RENT SURVEY, 14-0231-000 ADDENDA PROPERTY ADVISORS Office Locations • ALABAMA FLORIDA LOUISIANA OHIO TEXAS Valbridge Property Advisors I Valbridge Property Advisors I Valbridge Property Advisors I Valbridge Property Advisors I Valbridge Property Advisors I Real Estate Appraisers,LLC Armalavage Valuation,LLC Argote,Derbes,Graham, Akron Appraisal Group,Inc. Dugger,Canaday,Grafe,Inc. 4732 Woodmere Boulevard 2240 Venetian Court Shuffield&Tatje,Inc. 1655 W.Market Street,Suite 130 111 Soledad,Suite 800 Montgomery,AL 36106 Naples,FL 34109 512 North Causeway Boulevard Akron,OH 44313 San Antonio,TX 78205 334-277-5077 phone 239-514-4646 phone Metairie,LA 70001 330-899-9900 phone 210-227-6229 phone 504-833-8234 phone Valbridge Property Advisors I Valbridge Property Advisors I Valbridge Property Advisors I ARIZONA Beaumont,Matthes&Church, 7607 Fern Avenue,Suite 104 Allgeier Company The Gerald A.Teel Company, Valbridge Property Advisors I Shreveport,LA 71105 Inc. 9277 Centre Point Dr.,Suite 350 Inc. MJN Enterprises,Inc. 603 Hillcrest Street 318-797-0543 phone West Chester,OH 45069 Two Energy Square 6061 E.Grant Road,Suite 121 Orlando,FL 32803 513-785-0820 phone 4849 Greenville Avenue,Ste 1495 Tucson,AZ 85712 407-839-3626 phone MARYLAND Dallas,TX 75206 520-321-0000 phone Valbridge Property Advisors I Valbridge Property Advisors 214-446-1611 phone Valbridge Property Advisors I Lipman Frizzell&Mitchell LLC 526 E.Superior Avenue Boyd,Schmidt&Brannum, 6240 Old Dobbin Lane,Suite 140 Suite 455 974 Campbell Road,Suite 204 CALIFORNIA 2711 Poinsettia Avenue Columbia,MD 21045 Cleveland,OH 44114 Houston,TX 77024 Valbridge Property Advisors I West Palm Beach,FL 33407 410-423-2300 phone 216-367-9690 phone 713-467-5858 phone Michael Burger&Associates 561-833-5331 phone Valbridge Property Advisors 4915 Calloway Drive,Suite 101 Valbridge Property Advisors I MASSACHUSETTS OKLAHOMA 2731 81st Street Bakersfield,CA 93312 Broom,Moody,Johnson& Lubbock,TX 79423 661-587-1010 phone Valbridge Property AdvisorsI Valbridga Property Advisors I Grainger,Inc. Bullock Commercial Appraisal, Walton Property Services,LLC 806-744-1188 phone Valbridge Property Advisors I 121 West Forsyth Street,#1000 LLC 6666 S.Sheridan Road,Suite 104 Cummings Appraisal Jacksonville,FL 32202 21 Muzzey Street,Suite 2 Tulsa,OK 74133 UTAH Group,Inc. 904-296-3000 phone Lexington,MA 02421 918-712-9992 phone Valbridge Property Advisors I 99 S.Lake Avenue,Suite 21 781-652-0700 phone Free and Associates,Inc. Pasadena,CA 91101 Valbridge Property Advisors I 260 South 2500 West,Suite 301 626-744-0428 phone Entreken Associates,Inc. PENNSYLVANIA Pleasant Grove,UT 84062 1100 16th Street N MICHIGANValbridge Property Advisors I 801-492-9328 phone Valbridge Property Advisors I St.Petersburg,FL 33705 Valbridge Property Advisors I Barone,Murtha,Shonberg& Hulberg&Associates,Inc. 727-8941800 phone The Oetzel-Hartman Group Associates,Inc. 1100 East 6600 South,Suite 201 225 Crossroads Blvd,Suite 326 321 Woodland Pass,Suite 200 4701 Baptist Road,Suite 304 Salt Lake City,UT 84121 Carmel,CA 93923 GEORGIA East Lansing,MI 48823 Pittsburgh,PA 15227 801-262-3388 phone 831-917-0383 phone Valbridge Property Advisors I 517-336-0001 phone 412-881-6080 phone Cantrell Miller,LLC 20 North Main,Suite 304 2813 Coffee Road,Suite E-2 Valbridge Property Advisors I St.George,UT 84770 2675 Paces Ferry Road,Ste 145 MINNESOTA Modesto,CA 95355 Lukens&Wolf,LLC 435-773-6300 phone 209-569-0450 phone Atlanta,GA 30339 Valbridge Property Advisors I 150 South Warner Road,Ste.440 678-644-4853 phone Mardell Partners,Inc. King of Prussia,PA 19404 VIRGINIA One North Market Street 120 South 6th Street,Suite 1650 215-545-1900 phone Valbridge Property Advisors I San Jose,CA 95113 IDAHO Minneapolis,MN 55402 Axial Advisory Group,LLC 408-279-1520 phone Valbridge Property Advisors I 612-253 0650 phone 656 Independence Parkway,#220 Auble,Jolicoeur&Gentry,Inc. SOUTH CAROLINA Chesapeake,VA 23320 3160 Crow Canyon Place,#245 1875 N.Lakewood Drive,#100 NEVADA Valbridge Property Advisors I 757-410-1222 phone San Ramon,CA 94583 Coeur d'Alene,ID 83814 Valbridge Property Advisors I Atlantic Appraisals,LLC 925-327-1660 phone 208-292-2965 phone Lubawy&Associates,Inc. 1250 Fairmont Avenue 7400 Beaufont Springs Dr.,#300 Valbridge Property Advisors 3034 S.Durango Drive,Suite 100 Mt.Pleasant,SC 29464 Richmond,VA 23225 9 P Y I Valbridge Property Advisors I Las Vegas,NV 89117 843-884-1266 phone 804-672-4473 phone Penner&Associates,Inc. Mountain States Appraisal 702-242-9369 phone 1370 N.Brea Boulevard,#255 &Consulting,Inc. 800 Main Street,Suite 220 4732 Longhill Road,Suite 3202 Fullerton,CA 92835 1459 Tyrell Lane,Suite B Hilton Head Island,SC 29926 Williamsburg,VA 23188 714-449-0852 phone Boise,ID 83706 NEW JERSEY 843-342-2302 phone 757-345-0010 phone 208-336-1097 phone Valbridge Property Advisors I Valbridge Property Advisors I Oxford Group Valbridge Property Advisors I WASHINGTON Ribacchi&Associates 2740 Route 10 West,Suite 204 Robinson Company Valbridge Property Advisors I 10301 Placer Lane,Suite 100 INDIANA Morris Plains,NJ 07950 610 N.Main Street Allen Brackett Shedd Sacramento,CA 95827 Valbridge Property Advisors I 973-970-9333 phone Greenville,SC 29601 419 Berkeley Avenue,Suite A 916-361-2509 phone Mitchell Appraisals,Inc. 864-233-6277 phone Fircrest,WA 98466 820 Fort Wayne Avenue 2052 Route 35,Suite 104 253-274-0099 phone Indianapolis,IN 46204 Wall Township,NJ 07719 COLORADO 317-687-2747 phone 732-807-3113 phone TENNESSEE 12320 NE 8th Street,Suite 200 Valbridge Property Advisors I Valbridge Property Advisors I Bellevue,WA 98005 Bristol Realty Counselors IOWA NEW YORK R.K.Barnes 8 Associates,Inc. 425-450-4040 phone 5345Boulder,rCO 80,Suite 7 Valbridge Property Advisors 112 Westwood Place,Suite 300 03- 3 96 80 phone ValbridgeoyR. iPropertyeAdvisors I 9 P y I Brentwood,TN 37027 Valbridge Property Advisors I 303 443 9600 Roy R.East 38 h Inc. Oxford Group Auble,Jolicoeur&Gentry,Inc. 2010 East 38th Street,Suite 201 424 West 33 Street,Suite 630 615-369-0670 phone New York,NY 1001 324 N.Mullan Road Valbridge Property Advisors I Davenport,IA 52807 Spokane Valley,WA 99206 ValbridgeProperty Mountain West 563-355-6606 phone 212-268-1113 phoneP y Advisors I 509-747-0999 phone 562 Highway 133 C&I Appraisal Services,Inc. 9 Y 6750 Poplar Avenue,Suite 706 Carbondale,CO 81623 KANSAS NORTH CAROLINA Memphis,TN 38138 7601 West Clearwater Avenue 970-340-1016 phone Property Advisors I Valbridge Property Advisors I 901-753-6977 phoneShSuite 320 John Bosworth&Associates, Kennewick,WA 99336 10 90 Appraisals,Inc. g Property I 509-221-1540 phone 10990 Quivira Road,Suite 100 LLC Valbridge Pro ert Advisors CONNECTICUT Overland Park,KS 66210 4530 Park Road,Suite 100 Meridian Realty Advisors,LLC Valbridge Property Advisors I 913-451-1451 phone Charlotte,NC 28209 213 Fox Road WISCONSIN Italia&Lemp,Inc. 704-376-5400 phone Knoxville,TN 37922 Valbridge Property Advisors I 6 Central Row,Third Floor 865-522-2424 phone Vitale Realty Advisors,LLC Hartford,CT 06103-2701 KENTUCKY Valbridge Property Advisors I 12660 W.North Avenue 860-246-4606 phone Valbridge Property Advisors Paramount Appraisal Brookfield,WI 53005 Allgeier Company Group,Inc. 262-782-7990 phone 17 High Street,Suite 214 214 South 8th Street,Suite 200 412 E.Chatham Street Norwalk,CT 06851 Louisville,KY 40202 Cary,NC 27511 203-286-6520 phone 502-585-3651 phone 919-859-2666 phone VALBRIDGE PROPERTY ADVISORS I Mountain States Appraisal and Consulting,Inc. Page 49 CITY OF MCCALL Budget Worksheet-Budget Development Page: 25 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget CONTINGENCY-PW&S FUND CONTINGENT REVENUE 24-99-075-100.0 CONTINGENT REVENUE .00 .00 .00 92,656 100,000 100,000 100,000 Total CONTINGENT REVENUE: .00 .00 .00 92,656 100,000 100,000 100,000 CONTINGENT EXPENSE 24-99-750-100.0 CONTINGENT EXPENSE .00 .00 .00 92,656 100,000 100,000 100,000 Total CONTINGENT EXPENSE: .00 .00 .00 92,656 100,000 100,000 100,000 Total CONTINGENCY-PW&S FUND: .00 .00 .00 185,312 200,000 200,000 200,000 PUBLIC WORKS&STREETS FUND Revenue Total: 1,720,719 1,889,617 1,606,402 2,212,548 2,218,378 2,263,378 2,492,802 PUBLIC WORKS&STREETS FUND Expenditure Total: 1,624,839 1,729,728 1,241,426 2,212,548 2,408,947 2,418,078 2,492,802 Net Total PUBLIC WORKS&STREETS FUND: 95,880 159,889 364,976 .00 190,569- 154,700- .00 CITY OF MCCALL Budget Worksheet-Budget Development Page: 26 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget LIBRARY FUND LIBRARY FUND REVENUE PROPERTY TAX REVENUE 25-30-010-100.0 PROPERTY TAX REVENUE 363,247 384,570 389,045 388,292 388,292 388,292 424,000 25-30-010-102.0 3%INCREASE .00 .00 .00 .00 .00 .00 .00 25-30-010-104.0 PROPERTY TAX GROWTH INCREASE .00 .00 .00 .00 .00 .00 .00 25-30-010-900.0 PENALTIES AND INTEREST 3,064 2,330 1,975 2,040 2,040 2,040 2,040 Total PROPERTY TAX REVENUE: 366,311 386,900 391,020 390,332 390,332 390,332 426,040 FEE REVENUE 25-30-020-100.0 NONRESIDENT LIBRARY CARD FEES 7,505 8,557 7,123 5,400 6,000 6,000 6,000 25-30-020-150.0 SPANISH CLASS 3 230 .00 .00 .00 .00 .00 25-30-020-200.0 COMPUTER USAGE FEES 754 697 465 800 700 700 700 25-30-020-210.0 COPY MACHINE REVENUE .00 154 220 .00 100 100 100 25-30-020-430.0 COPY/FAX/NOTARY SERVICES 1,852 1,845 1,511 1,900 1,900 1,900 1,900 Total FEE REVENUE: 10,114 11,484 9,319 8,100 8,700 8,700 8,700 GRANT REVENUE 25-30-025-200.0 GRANTS 8,086 .00 .00 8,000 5,000 5,000 5,000 Budget notes: Whittenberger,Shelton,Children's Programming,VA Programming,Medical Books,Nooks and Books 25-30-025-201.0 FOUND-MCCALL HOSPITAL AUX. .00 .00 350 .00 350 350 350 25-30-025-202.0 FOUND-ID COMMUNITY FOUND. 1,423 .00 .00 .00 .00 .00 .00 Total GRANT REVENUE: 9,509 .00 350 8,000 5,350 5,350 5,350 FINES REVENUE 25-30-035-200.0 FINES 2,151 2,377 2,266 2,000 1,900 1,900 1,900 Total FINES REVENUE: 2,151 2,377 2,266 2,000 1,900 1,900 1,900 DONATION REVENUE 25-30-040-970.0 PRIVATE CONTRIBUTIONS 4,348 6,365 8,173 730 1,000 1,000 1,000 25-30-040-971.0 FRIENDS CONTRIBUTIONS .00 .00 .00 .00 3,000 3,000 3,000 25-30-040-973.0 FILM SOCIETY 1,909 743 882 1,200 800 800 800 25-30-040-974.0 VIDEO CIRCUIT DUES 900 840 840 900 840 840 840 25-30-040-975.0 CONTRIBUTIONS-BUILDING FUND .00 .00 18,120 .00 .00 .00 .00 Total DONATION REVENUE: 7,157 7,948 28,015 2,830 5,640 5,640 5,640 INTEREST REVENUE 25-30-045-100.0 INTEREST REVENUE 635 772 1,177 480 1,412 1,412 1,412 Total INTEREST REVENUE: 635 772 1,177 480 1,412 1,412 1,412 APPROPRIATED FUND BALANCE 25-30-050-997.0 APPROPRIATED FUND BALANCE .00 .00 .00 48,000 289,614 289,614 .00 Total APPROPRIATED FUND BALANCE: .00 .00 .00 48,000 289,614 289,614 .00 CARRY FORWARD REVENUE 25-30-055-998.0 CARRY FORWARD .00 .00 .00 7,000 4,000 4,000 12,000 Budget notes: -2018 FY17 LOT contingency-Library expansion fundraising campaign. CITY OF MCCALL Budget Worksheet-Budget Development Page: 27 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget Total CARRY FORWARD REVENUE: .00 .00 .00 7,000 4,000 4,000 12,000 INTER-FUND TRANSFER REVENUE 25-30-060-910.0 HEALTH CARE RESERVE .00 .00 .00 .00 .00 .00 .00 25-30-060-982.0 CIP TRANSFER FROM G.F. 2,000 .00 .00 .00 150,386 150,386 .00 Total INTER-FUND TRANSFER REVENUE: 2,000 .00 .00 .00 150,386 150,386 .00 OTHER REVENUE 25-30-070-100.0 LOCAL OPTION TAX 8,000 25,000 1,500 1,500 60,000 60,000 62,986 Budget notes: -2018 Library expansion project$60,000. 25-30-070-900.0 MISCELLANEOUS REVENUE 638 707 1,714 600 700 700 700 Budget notes: Includes reimbursement for lost books 25-30-070-980.0 SALES OF SURPLUS PROPERTY 16 .00 115 .00 .00 .00 .00 25-30-070-990.0 CASH OVER\(SHORT) 22 24 11 15 .00 .00 .00 25-30-070-995.0 BAD DEBT RECOVERY 24 .00 .00 .00 .00 .00 .00 Total OTHER REVENUE: 8,700 25,731 3,340 2,115 60,700 60,700 63,686 Total LIBRARY FUND REVENUE: 406,577 435,210 435,488 468,857 918,034 918,034 524,728 CITY OF MCCALL Budget Worksheet-Budget Development Page: 28 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget LIBRARY DEPARTMENT PERSONNEL EXPENSE 25-57-100-110.0 SALARIES AND WAGES 173,413 186,032 161,621 189,159 195,186 198,933 196,610 25-57-100-140.0 OVERTIME PAY .00 72 .00 .00 .00 .00 .00 25-57-100-147.0 FICA 10,150 10,747 9,866 11,728 12,102 12,334 12,190 25-57-100-148.0 MEDICARE 2,374 2,513 2,307 2,743 2,830 2,885 2,851 25-57-100-149.0 RETIREMENT-PERS! 16,280 18,936 16,903 19,513 20,131 20,463 20,200 25-57-100-150.0 WORKER'S COMPENSATION 425 587 453 623 643 655 648 25-57-100-151.0 HEALTH INSURANCE 39,694 44,042 38,048 47,256 54,534 54,534 41,131 25-57-100-152.0 DENTAL INSURANCE 1,392 1,093 808 1,079 1,006 1,006 1,267 25-57-100-154.0 UNEMPLOYMENT .00 .00 1,103 .00 .00 .00 1,500 25-57-100-157.0 LIFE INSURANCE 331 268 201 283 283 283 283 25-57-100-158.0 EMPLOYEE GOLF PASS .00 300 300 300 300 300 300 Budget notes: Employee benefit-season golf passes @$150 each. Budget based upon prior year actuals. 25-57-100-160.0 EMPLOYEE RECOGNITION 321 392 137 405 350 350 350 25-57-100-200.0 REQUESTED PERSONNEL CHANGE .00 .00 .00 .00 .00 .00 .00 Total PERSONNEL EXPENSE: 244,380 264,983 231,748 273,089 287,365 291,743 277,330 OPERATING EXPENSE 25-57-150-200.0 OFFICE SUPPLIES 2,268 533 500 1,000 1,000 1,000 1,000 25-57-150-210.0 DEPARTMENT SUPPLIES 3,554 3,228 3,580 3,200 3,600 3,600 3,600 25-57-150-234.0 SOFTWARE 358 447 437 480 480 480 480 Budget notes: Includes Cassie and Spot Maintenance 25-57-150-240.0 MINOR EQUIPMENT 1,008 1,880 595 2,400 2,400 2,400 2,400 25-57-150-260.0 POSTAGE .00 .00 16 .00 .00 .00 .00 25-57-150-280.0 LICENSES AND PERMITS 114 216 218 320 320 320 320 25-57-150-300.0 PROFESSIONAL SERVICES 4,619 22,382 29,749 53,100 88,000 28,000 28,000 Budget notes: Includes Biblionix 25-57-150-400.0 ADVERTISING/LEGAL PUBLICATIONS 289 159 48 200 200 200 200 25-57-150-420.0 TRAVEL AND MEETINGS 266 886 715 700 900 900 900 25-57-150-430.0 DUES AND SUBSCRIPTIONS .00 1,369 957 800 800 800 800 Budget notes: Subscription to Overdirve,the a-book platform 25-57-150-435.0 BOOKS/PUBLICATIONS/SUBSCRIPTS 12,761 11,594 8,488 14,000 14,000 14,000 14,000 25-57-150-436.0 OCLC SUBSCRIPTION 1,649 1,649 .00 1,650 1,650 1,650 1,650 Budget notes: OCLC Yearly Subscription(Partially Funded by ICFL) 25-57-150-440.0 PROFESSIONAL DEVELOPMENT 857 568 278 1,000 1,000 1,000 1,000 Budget notes: Includes Idaho Library Association(ILA),Valley Mountain Library Consortium(VMLC)and American Library Association(ALA)dues 25-57-150-450.0 CLEANING AND CUSTODIAL 1,381 1,170 840 1,500 1,500 1,500 1,500 25-57-150-460.0 TELEPHONE 205 386 529 636 700 700 700 25-57-150-461.0 CABLEONE INTERNET SERVICES 814 751 695 800 800 800 800 25-57-150-462.0 AUDIO VISUAL MATERIALS 1,086 1,339 430 1,400 1,400 1,400 1,400 25-57-150-462.1 VIDEO CIRCUIT LIBRARY 203 918 304 900 800 800 800 25-57-150-463.0 FILM SOCIETY PROGRAM 3,180 2,155 1,446 2,000 2,000 2,000 2,000 Budget notes: Includes:Alpine Playhouse rent,film purchases,advertising,and tickets 25-57-150-464.0 PERIODICALS 1,759 1,603 1,548 1,500 1,500 1,500 1,500 25-57-150-465.0 CHILDREN'S BOOKS 1,460 1,767 1,643 1,500 1,500 1,500 1,500 25-57-150-467.0 YOUNG ADULT MATERIALS 1,510 1,324 778 1,500 1,500 1,500 1,500 25-57-150-468.0 FRIENDS BOOKS .00 .00 459 .00 3,000 3,000 3,000 , CITY OF MCCALL Budget Worksheet-Budget Development Page: 29 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget 25-57-150-469.0 PROGRAMMING SUPPLIES 1,542 1,562 1,318 1,800 1,800 1,800 1,800 25-57-150-490.0 HEAT,LIGHTS,AND UTILITIES 6,351 5,434 5,410 8,200 7,200 7,200 6,000 Budget notes: Includes Propane,Idaho Power,and City Water and Sewer 25-57-150-500.0 RENTAL-OFFICE EQUIPMENT 1,235 1,177 981 1,180 1,180 1,180 1,180 25-57-150-500.1 RENTAL-EQUIPMENT MAINTENANCE 411 574 357 500 500 500 500 Budget notes: Maintenance fee based upon a per copy charge 25-57-150-570.0 REPAIRS-BUILDING AND GROUNDS 6,708 4,509 271 19,500 10,000 10,000 20,986 25-57-150-595.0 BAD DEBT .00 .00 .00 .00 .00 .00 .00 Total OPERATING EXPENSE: 55,588 69,579 62,589 121,766 149,730 89,730 99,516 CAPITAL EXPENSE 25-57-200-700.0 LIBRARY EXPANSION .00 .00 .00 .00 500,000 500,000 60,000 Total CAPITAL EXPENSE: .00 .00 .00 .00 500,000 500,000 60,000 INTER-FUND TRANSFER EXPENSE 25-57-600-910.0 ADMINISTRATIVE TRANSFER-GF 18,485 18,204 19,660 23,591 71,026 71,026 33,389 25-57-600-915.0 GIS TRANSFER .00 .00 670 805 805 805 3,136 25-57-600-972.0 FUND TRANSFER-NETWORK ADMIN 43,300 54,840 33,420 40,106 46,007 46,007 46,007 Total INTER-FUND TRANSFER EXPENSE: 61,785 73,044 53,750 64,502 117,838 117,838 82,532 Total LIBRARY DEPARTMENT: 361,753 407,605 348,087 459,357 1,054,933 999,311 519,378 CITY OF MCCALL Budget Worksheet-Budget Development Page:• 30 , Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget GRANT EXPENSES GRANTS 25-60-250-670.0 GRANTS 5,595 .00 290 8,000 5,000 5,000 5,000 25-60-250-672.0 FOUND-ID COMMUNITY FOUND. .00 .00 .00 .00 .00 .00 .00 25-60-250-674.0 FOUND-GRANTS .00 .00 .00 .00 350 350 350 25-60-250-675.0 GRANTS-CITY MATCH .00 .00 .00 1,500 .00 .00 .00 Total GRANTS: 5,595 .00 290 9,500 5,350 5,350 5,350 Total GRANT EXPENSES: 5,595 .00 290 9,500 5,350 5,350 5,350 , CITY OF MCCALL Budget Worksheet-Budget Development Page: 31 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget CONTINGENCY-LIBRARY FUND CONTINGENT REVENUE 25-99-075-100.0 CONTINGENT REVENUE .00 .00 .00 49,195 50,000 50,000 50,000 Total CONTINGENT REVENUE: .00 .00 .00 49,195 50,000 50,000 50,000 CONTINGENT EXPENSE 25-99-750-100.0 CONTINGENT EXPENSE .00 .00 .00 49,195 50,000 50,000 50,000 Total CONTINGENT EXPENSE: .00 .00 .00 49,195 50,000 50,000 50,000 Total CONTINGENCY-LIBRARY FUND: .00 .00 .00 98,390 100,000 100,000 100,000 LIBRARY FUND Revenue Total: 406,577 435,210 435,488 518,052 968,034 968,034 574,728 LIBRARY FUND Expenditure Total: 367,348 407,605 348,377 518,052 1,110,283 1,054,661 574,728 Net Total LIBRARY FUND: 39,229 27,605 87,111 .00 142,249- 86,627- .00 CITY OF MCCALL Budget Worksheet-Budget Development Page: . 32 , Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget RECREATION FUND RECREATION FUND REVENUE PROPERTY TAX REVENUE 28-30-010-100.0 PROPERTY TAXES 241,886 220,477 236,618 236,160 236,160 236,160 232,900 28-30-010-102.0 3%INCREASE .00 .00 .00 .00 .00 .00 .00 28-30-010-104.0 PROPERTY TAX GROWTH INCREASE .00 .00 .00 .00 .00 .00 .00 28-30-010-900.0 PENALTIES AND INTEREST 2,041 1,336 1,201 1,180 1,180 1,180 1,180 Total PROPERTY TAX REVENUE: 243,927 221,813 237,819 237,340 237,340 237,340 234,080 LICENSE&PERMIT REVENUE 28-30-015-200.0 TREE PERMITS .00 .00 .00 .00 .00 .00 .00 28-30-015-430.0 CONCESSIONAL USE PERMIT 7,178 7,178 7,313 7,500 7,300 7,300 7,300 Budget notes: Cheap Thrills Use Permit Agreement-January 1,2013 through December 31,2022-base rate of$7,100 with an annual CPI adjustment(Western Urban Index for the 12 months prior and including the month of March).Fee is due and payable May 1. Total LICENSE&PERMIT REVENUE: 7,178 7,178 7,313 7,500 7,300 7,300 7,300 FEE REVENUE 28-30-020-100.0 PARKS RENTAL FEES 3,100 2,800 3,400 3,500 3,500 3,500 3,500 28-30-020-120.0 OVERNIGHT PARKING FEE .00 660 858 300 1,000 1,000 1,000 28-30-020-140.0 MOUNTAIN BIKING 1,401 1,295 2,251 1,300 2,200 2,200 2,200 28-30-020-150.0 YOUTH SWIMMING 1,723 1,583 62- 800 .00 .00 .00 28-30-020-160.0 YOUTH TENNIS 3,016 3,221 4,174 3,000 3,000 3,000 3,000 28-30-020-180.0 SOFTBALL TOURNAMENTS .00 .00 .00 .00 1,200 1,200 1,200 28-30-020-190.0 YOUTH BALL SPONSORSHIP 4,250 5,410 2,337 5,000 5,000 5,000 5,000 28-30-020-210.0 YOUTH SKATEBOARDING 897 903 1,036 1,000 1,200 1,200 1,200 28-30-020-220.0 OTHER PROGRAMS 8,876 9,653 7,904 9,000 9,000 9,000 9,000 28-30-020-230.0 YOUTH BASKETBALL 1,413 1,470 1,712 1,500 1,500 1,500 1,500 28-30-020-240.0 YOUTH BASEBALL/SOFTBALL 3,334 4,789 3,599 4,000 4,000 4,000 4,000 28-30-020-260.0 ADULT SOFTBALL LEAGUE 3,565 3,238 1,472 4,710 4,000 4,000 4,000 28-30-020-280.0 RECREATION CARDS 360 200 120 500 300 300 300 Total FEE REVENUE: 31,935 35,222 28,800 34,610 35,900 35,900 35,900 GRANT REVENUE 28-30-025-106.0 GRANTS .00 .00 .00 .00 .00 .00 .00 28-30-025-107.0 STATE-RTP GRANT .00 .00 .00 .00 .00 .00 .00 28-30-025-108.0 STATE-PARKS-IDPR-WATERWAYS .00 81,553 .00 .00 .00 .00 .00 28-30-025-109.0 STATE-ITD-SCENIC BYWAY .00 .00 .00 .00 .00 .00 .00 28-30-025-110.0 GRANTS-SKILLS FOR YOUTH .00 .00 .00 .00 .00 .00 .00 28-30-025-111.0 FHWA-LARDO BRIDGE MITIGATION .00 9,359 .00 .00 .00 .00 .00 28-30-025-112.0 STATE-IDPR-MT.BIKE GRANT FUND .00 9,757 2,237 11,994 .00 .00 .00 28-30-025-113.0 STATE-IDPR-ROAD&BRIDGE .00 4,895 .00 17,866 17,866 17,866 17,866 28-30-025-200.0 FOUND.-ARBOR DAY 300 .00 .00 300 300 300 300 28-30-025-300.0 GRANT-COUNTY WATERWAYS .00 25,000 .00 .00 .00 .00 .00 Total GRANT REVENUE: 300 130,564 2,237 30,160 18,166 18,166 18,166 DONATION REVENUE 28-30-040-970.0 PRIVATE CONTRIBUTIONS 625 4,122 4,122 1,000 1,000 1,000 1,000 28-30-040-970.2 CONTRIBUTIONS-JULY 4TH .00 2,450 5,330 .00 .00 .00 .00 28-30-040-971.0 PRIVATE CONTR-CENT.PARK PAVER 6,365 6,047 2,337 2,000 3,000 3,000 3,000 CITY OF MCCALL Budget Worksheet-Budget Development Page: 33 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget Total DONATION REVENUE: 6,990 12,620 11,789 3,000 4,000 4,000 4,000 INTEREST REVENUE 28-30-045-100.0 INTEREST REVENUE 472 1,326 1,912 246 2,116 2,116 2,116 Total INTEREST REVENUE: 472 1,326 1,912 246 2,116 2,116 2,116 APPROPRIATED FUND BALANCE 28-30-050-997.0 APPROPRIATED FUND BALANCE .00 .00 .00 46,500 35,000 35,000 35,000 Budget notes: -2018$15,000 Harshman Skate Park Repair and$20,000 Museum 10-Bay Project. Total APPROPRIATED FUND BALANCE: .00 .00 .00 46,500 35,000 35,000 35,000 CARRY FORWARD REVENUE 28-30-055-998.0 CARRY FORWARD .00 .00 .00 54,000 .00 .00 100,000 Budget notes: -2018 CF FY17 Brown Park$100,000 Total CARRY FORWARD REVENUE: .00 .00 .00 54,000 .00 .00 100,000 INTER-FUND TRANSFER REVENUE 28-30-060-910.0 HEALTH CARE RESERVE .00 .00 .00 .00 .00 .00 .00 28-30-060-970.0 PARKS TRANSFER-FROM GF 523,901 610,723 516,840 620,206 658,801 658,801 647,418 28-30-060-982.0 CIP TRANSFER FROM G.F. .00 15,477 .00 164,000 135,500 135,500 135,500 Budget notes: -2018 Indudes:$60,000 Legacy Promenade Repair,$40,000 John Deer/Tool Cat Replacement,and$14,500 Gold Glove Park Repair&Improvement Project. 28-30-060-983.0 TRANSFERS FROM URBAN RENEWAL .00 35,000 .00 .00 .00 .00 .00 Total INTER-FUND TRANSFER REVENUE: 523,901 661,200 516,840 784,206 794,301 794,301 782,918 OTHER REVENUE 28-30-070-100.0 LOCAL OPTION TAX 66,166 122,530 75,000 75,000 120,500 120,500 138,500 Budget notes: -2018 Includes:$60,000 Legacy Promenade Repair,$16,000 John Deer/Tool Cat Replacement,$30,000 Harshman Skate Park Repair Project,and $14,500 Gold Glove Park Repair&Improvement Project. 28-30-070-110.0 RENTS&ROYALTIES 12,522 12,807 13,420 13,000 13,500 13,500 13,500 Budget notes: Includes lease with Mile High Marina(which coincides with the submerged land lease,and ends 12-31-2017),Land Lease for Dock with Garnet Beach Homeowners. 28-30-070-410.0 IDAHO FUEL TAX REFUND 150 214 372 150 250 250 250 28-30-070-900.0 MISCELLANEOUS REVENUE 1,208 196 164 .00 .00 .00 .00 28-30-070-980.0 SALES OF SURPLUS PROPERTY 2,150 .00 6,247 3,000 1,500 1,500 1,500 28-30-070-990.0 CASH OVER\(SHORT) .00 2- 1 .00 .00 .00 .00 28-30-070-998.0 Donated Assets .00 40,339 .00 .00 .00 .00 .00 Total OTHER REVENUE: 82,196 176,085 95,204 91,150 135,750 135,750 153,750 Total RECREATION FUND REVENUE: 896,900 1,246,007 901,915 1,288,712 1,269,873 1,269,873 1,373,230 CITY OF MCCALL Budget Worksheet-Budget Development Page: • 34 , Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget RECREATION-PROGRAMS PERSONNEL EXPENSE 28-58-100-110.0 SALARIES AND WAGES 135,203 150,083 92,112 125,768 128,891 130,182 130,182 28-58-100-140.0 OVERTIME PAY 2,028 571 617 603 622 634 634 28-58-100-147.0 FICA 8,302 9,117 6,042 7,835 8,030 8,111 8,111 28-58-100-148.0 MEDICARE 1,942 2,132 1,413 1,832 1,878 1,897 1,897 28-58-100-149.0 RETIREMENT-PERSI 13,729 14,603 10,514 13,248 13,603 13,751 13,751 28-58-100-150.0 WORKER'S COMPENSATION 3,344 3,066 1,561 2,066 2,283 2,303 2,303 28-58-100-151.0 HEALTH INSURANCE 12,541 11,944 17,248 23,315 26,554 26,554 26,554 28-58-100-152.0 DENTAL INSURANCE 497 492 639 1,116 862 862 862 28-58-100-154.0 UNEMPLOYMENT .00 1,462 .00 .00 .00 .00 .00 28-58-100-156.0 CLOTHING/UNIFORMS 200 325 201 200 .00 .00 .00 28-58-100-157.0 LIFE INSURANCE 206 177 144 189 189 189 189 28-58-100-158.0 EMPLOYEE GOLF PASS 300 300 300 300 300 300 300 Budget notes: Employee benefit-season golf passes @$150 each. Budget based upon prior year actuals. 28-58-100-160.0 EMPLOYEE RECOGNITION 64 .00 .00 180 125 125 125 Total PERSONNEL EXPENSE: 178,355 194,272 130,791 176,652 183,337 184,908 184,908 OPERATING EXPENSE 28-58-150-200.0 OFFICE SUPPLIES .00 .00 90 200 200 200 200 28-58-150-210.0 DEPARTMENT SUPPLIES 13,028 17,209 10,572 14,000 15,000 15,000 15,000 28-58-150-240.0 MINOR EQUIPMENT 1,800 394 125 1,200 1,200 1,200 5,700 Budget notes: -2018 Includes$4,500 Outdoor Movie Screen&Equipment 28-58-150-250.0 MOTOR FUELS AND LUBRICANTS 667 519 334 800 800 800 800 28-58-150-300.0 PROFESSIONAL SERVICES 15,955 11,876 7,803 16,000 18,000 18,000 18,000 Budget notes: Includes fees paid for game umpires,and instructors to teach various recreation programs. 28-58-150-400.0 ADVERTISING/LEGAL PUBLICATIONS 115 728 672 400 650 650 650 28-58-150-420.0 TRAVEL AND MEETINGS 240 830 530 750 900 900 900 28-58-150-430.0 DUES AND SUBSCRIPTIONS .00 .00 35 150 150 150 150 28-58-150-435.0 BOOKS/PUBLICATIONS/SUBSCRIPTS 119 57 50 50 .00 .00 .00 28-58-150-440.0 PROFESSIONAL DEVELOPMENT 158 738 .00 1,500 1,500 1,500 1,500 28-58-150-460.0 TELEPHONE 1,280 1,565 1,502 1,565 1,565 1,565 1,565 28-58-150-490.0 HEAT,LIGHTS,AND UTILITIES 2,287 4,481 2,405 3,000 3,000 3,000 3,000 28-58-150-493.0 FAIRWAY PARK .00 .00 .00 .00 .00 .00 .00 28-58-150-501.0 MAINT-COPIER-PER PAGE COST 76 245 209 250 250 250 250 28-58-150-570.0 REPAIRS-BUILDING AND GROUNDS 80 2,000 345 200 300 300 300 28-58-150-580.0 REPAIRS-AUTOMOTIVE EQUIPMENT 6 150 415 1,000 1,000 1,000 1,000 Total OPERATING EXPENSE: 35,811 40,794 25,087 41,065 44,515 44,515 49,015 CAPITAL EXPENSE 28-58-200-702.0 CAPITAL PURCHASES .00 .00 24,118 25,000 .00 .00 .00 Total CAPITAL EXPENSE: .00 .00 24,118 25,000 .00 .00 .00 INTER-FUND TRANSFER EXPENSE 28-58-600-910.0 ADMINISTRATIVE TRANSFER-GF 11,416 12,192 7,800 9,362 13,079 13,079 13,708 28-58-600-972.0 FUND TRANSFER-NETWORK ADMIN 11,754 9,708 7,600 9,117 12,765 12,765 12,765 28-58-600-973.0 REC PROGRAMS/AIRPOT LEASE TRF .00 7,200 6,000 7,200 7,200 7,200 7,200 Total INTER-FUND TRANSFER EXPENSE: 23,170 29,100 21,400 25,679 33,044 33,044 33,673 CITY OF MCCALL Budget Worksheet-Budget Development Page: 35 Penod:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget Total RECREATION-PROGRAMS: 237,337 264,165 201,396 268,396 260,896 262,467 267,596 CITY OF MCCALL Budget Worksheet-Budget Development Page:, 36 , Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget RECREATION-PARKS PERSONNEL EXPENSE 28-59-100-110.0 SALARIES AND WAGES 210,151 245,327 175,207 253,202 255,118 256,922 257,817 28-59-100-140.0 OVERTIME PAY 3,882 4,319 6,702 2,311 2,376 2,406 2,406 28-59-100-147.0 FICA 12,943 14,944 11,034 15,842 15,965 16,078 16,134 28-59-100-148.0 MEDICARE 3,027 3,495 2,580 3,705 3,734 3,760 3,773 28-59-100-149.0 RETIREMENT-PERSI 16,024 18,449 14,227 19,740 19,612 19,820 19,921 28-59-100-150.0 WORKER'S COMPENSATION 8,485 12,904 7,481 12,624 12,719 12,803 12,849 28-59-100-151.0 HEALTH INSURANCE 25,490 46,010 30,718 51,299 46,308 46,308 58,922 28-59-100-152.0 DENTAL INSURANCE 982 1,385 1,105 1,377 1,569 1,569 1,683 28-59-100-153.0 PHYSICAL EXAMS 75 .00 164 .00 .00 .00 .00 28-59-100-154.0 UNEMPLOYMENT 2,769 2,184 3,664 7,500 .00 .00 7,500 28-59-100-156.0 CLOTHING/UNIFORMS 1,203 1,584 1,396 1,500 .00 .00 .00 28-59-100-157.0 LIFE INSURANCE 258 363 274 377 377 377 377 28-59-100-158.0 EMPLOYEE GOLF PASS 300 150 150 150 150 150 150 28-59-100-160.0 EMPLOYEE RECOGNITION 623 668 438 200 225 225 225 Total PERSONNEL EXPENSE: 286,213 351,782 255,140 369,827 358,153 360,418 381,757 OPERATING EXPENSE 28-59-150-200.0 OFFICE SUPPLIES .00 .00 68- 200 200 200 200 28-59-150-210.0 DEPARTMENT SUPPLIES 6,321 6,777 8,080 6,000 7,000 7,000 7,000 28-59-150-211.0 BATHROOM SUPPLIES 6,976 8,552 7,007 7,000 9,000 9,000 9,000 28-59-150-212.0 HOLIDAY LIGHTS 1,903 2,631 1,774 3,000 2,000 2,000 2,000 Budget notes: Downtown holiday lights-maintenance and replacement 28-59-150-216.0 SUPPLIES-SEED,SOD 573 1,035 725 1,400 1,500 1,500 1,500 28-59-150-218.0 SUPPLIES-FERTILIZER 2,055 3,690 3,789 3,820 3,300 3,300 3,300 28-59-150-220.0 SAND&SOIL 3,620 3,267 2,740 2,480 5,500 5,500 5,500 28-59-150-221.0 TREES 895 1,044 2,973 3,000 3,000 3,000 3,000 28-59-150-222.0 CHEMICALS 1,199 1,230 1,775 2,000 2,500 2,500 2,500 28-59-150-223.0 FLOWERS 8,320 7,156 6,820 8,000 8,000 8,000 8,000 28-59-150-226.0 IRRIGATION-CTRL ID HIST MUSEUM 1,879 968 878 1,500 1,500 1,500 1,500 28-59-150-227.0 IRRIGATION MAINTENANCE 6,277 4,092 3,360 4,000 4,500 4,500 4,500 28-59-150-228.0 DRAINAGE MAINTENANCE .00 374 .00 1,500 1,500 1,500 1,500 28-59-150-240.0 MINOR EQUIPMENT 8,617 8,089 5,845 6,939 8,000 8,000 8,000 28-59-150-250.0 MOTOR FUELS AND LUBRICANTS 6,868 8,609 7,114 9,000 9,000 9,000 9,000 28-59-150-275.0 PUBLIC RELATIONS .00 85 .00 .00 .00 .00 .00 28-59-150-300.0 PROFESSIONAL SERVICES 3,206 1,345 1,076 2,000 3,500 3,500 3,500 28-59-150-400.0 ADVERTISING/LEGAL PUBLICATIONS 298 2,072 888 200 1,000 1,000 1,000 28-59-150-420.0 TRAVEL AND MEETINGS 1,390 1,355 1,257 2,000 2,500 2,500 2,500 28-59-150-435.0 BOOKS/PUBLICATIONS/SUBSCRIPTS 1,370 40 575 1,000 1,000 1,000 1,000 • 28-59-150-440.0 PROFESSIONAL DEVELOPMENT 2,400 1,608 515 2,000 2,500 2,500 2,500 28-59-150-460.0 TELEPHONE 1,790 1,764 1,301 1,535 1,800 1,800 1,800 28-59-150-490.0 HEAT,LIGHTS,AND UTILITIES 42,282 46,512 39,522 40,000 45,000 45,000 45,000 28-59-150-491.0 TRASH,PORTA POTTIE RENTAL 4,354 4,677 3,450 5,500 5,000 5,000 5,000 28-59-150-510.0 RENTAL-MINOR EQUIPMENT 2,147 834 1,693 2,000 3,000 3,000 3,000 28-59-150-540.0 PATHWAY MAINTENANCE 4,990 8,352 6,675 5,000 7,000 7,000 7,000 28-59-150-570.0 REPAIRS-BUILDING AND GROUNDS 40,295 40,345 24,754 29,382 38,000 38,000 38,000 28-59-150-571.0 REPAIRS-CENTENNIAL PARK .00 3,493 3,219 2,000 3,000 3,000 3,000 28-59-150-580.0 REPAIRS-AUTOMOTIVE EQUIPMENT 1,708 2,963 2,357 2,000 3,500 3,500 3,500 28-59-150-590.0 REPAIRS-OTHER EQUIPMENT 5,532 8,179 7,296 6,000 9,000 9,000 9,000 28-59-150-594.0 SPECIAL EVENTS-JULY 4TH .00 1,000 7,406 4,000 4,000 4,000 4,000 Total OPERATING EXPENSE: 167,266 182,138 154,796 164,456 196,300 196,300 196,300 CITY OF MCCALL Budget Worksheet-Budget Development Page: 37 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget CAPITAL EXPENSE 28-59-200-701.0 LEGACY PARK REPAIR 33,754 .00 .00 .00 120,000 120,000 120,000 28-59-200-702.0 CAPITAL PURCHASES .00 40,339 47,130 45,061 67,000 67,000 67,000 Budget notes: -2018 Includes$56,000 John Deere/Tool Cat Equipment and$11,000 Mini Truck. 28-59-200-703.0 PATHWAYS .00 .00 .00 .00 .00 .00 .00 28-59-200-704.0 GOLD GLOVE PARK 139,073 .00 .00 .00 39,000 39,000 39,000 28-59-200-705.0 RIVERFRONT PARK .00 .00 .00 .00 .00 .00 .00 28-59-200-706.0 PARKS STORMWATER IMPROVEMENTS .00 .00 .00 10,000 .00 .00 .00 28-59-200-707.0 PARKS ADA IMPROVEMENTS .00 26,119 17,575 17,575 .00 .00 .00 28-59-200-708.0 RIVER ACCESS .00 .00 .00 .00 .00 .00 .00 28-59-200-709.0 ROTARY PARK IMPROVEMENTS .00 72,770 139,899 117,387 .00 .00 .00 28-59-200-710.0 BROWN PARK IMROVEMENTS .00 .00 21,508 128,038 .00 .00 100,000 Budget notes: -2018 FY17 CF$100,000 28-59-200-711.0 CITY DOCK REPLACEMENT .00 .00 .00 .00 .00 .00 .00 28-59-200-712.0 HARSHMAN SKATE PARK .00 .00 .00 .00 45,000 45,000 45,000 28-59-200-998.0 RESRVD-FUTURE CAPITAL .00 .00 .00 .00 .00 .00 .00 Total CAPITAL EXPENSE: 172,827 139,228 226,112 318,061 271,000 271,000 371,000 INTER-FUND TRANSFER EXPENSE 28-59-600-905.0 ENGINEER TRANSFER 7,047 7,047 7,140 8,563 8,563 8,563 8,563 28-59-600-910.0 PARKS/GOLF TRANSFER 1,500 10,120 3,090 3,709 3,709 3,709 2,810 28-59-600-911.0 ADMINISTRATIVE TRANSFER-GF 52,845 57,516 43,210 51,849 81,647 81,647 92,302 28-59-600-915.0 GIS TRANSFER .00 .00 30,840 37,010 37,010 37,010 9,104 28-59-600-972.0 FUND TRANSFER-NETWORK ADMIN 3,459 3,852 2,900 3,481 5,632 5,632 5,632 Total INTER-FUND TRANSFER EXPENSE: 64,851 78,535 87,180 104,612 136,561 136,561 118,411 Total RECREATION-PARKS: 691,156 751,683 723,229 956,956 962,014 964,279 1,067,468 CITY OF MCCALL Budget Worksheet-Budget Development Page: , 38 , Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget GRANT EXPENSES GRANTS 28-60-250-606.0 GRANTS .00 .00 .00 .00 .00 .00 .00 28-60-250-607.0 STATE-PARKS-RTP .00 .00 .00 .00 .00 .00 .00 28-60-250-609.0 STATE-ITO-SCENIC BYWAYS .00 .00 .00 .00 .00 .00 .00 28-60-250-610.0 STATE-ITD-SCENIC BYWAYS-MATCH .00 .00 .00 .00 .00 .00 .00 28-60-250-611.0 FHWA-LARDO BRIDGE MITIGATION .00 9,359 9,901 33,500 20,000 20,000 20,000 Budget notes: SHPO MUST APPROVE improvement plans;improvements must be completed by May 2019 or return funds-$20,000 CIHM to repair any historic bldg(10 Bay or other). -2018 Museum 10 Bay project$20,000. 28-60-250-615.0 STATE-PARKS-IDPR-WATERWAYS .00 81,553 .00 .00 .00 .00 .00 28-60-250-616.0 VALLEY COUNTY WATERWAYS .00 25,000 .00 .00 .00 .00 .00 28-60-250-617.0 STATE-IDPR-WATERWAYS-MATCH 480 81,227 .00 .00 .00 .00 .00 28-60-250-669.0 FOUND-PARKS-ARBOR DAY .00 .00 .00 .00 .00 .00 300 28-60-250-672.0 STATE-IDPR-MT.BIKE LIC.PLATE .00 10,257 2,950 11,994 .00 .00 .00 28-60-250-673.0 STATE-IDPR-ROAD&BRIDGE .00 4,895 4,750 17,866 17,866 17,866 17,866 Total GRANTS: 480 212,291 17,601 63,360 37,866 37,866 38,166 Total GRANT EXPENSES: 480 212,291 17,601 63,360 37,866 37,866 38,166 CITY OF MCCALL Budget Worksheet-Budget Development Page: 49 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget LOCAL OPTION TAX FUND LOCAL OPTION TAX FUND REVENUE GRANT REVENUE 31-30-025-110.0 GRANTS-LHTAC .00 .00 .00 100,000 .00 .00 .00 Total GRANT REVENUE: .00 .00 .00 100,000 .00 .00 .00 INTEREST REVENUE 31-30-045-100.0 INTEREST REVENUE .00 1,281 7,339 .00 6,884 6,884 6,884 Total INTEREST REVENUE: .00 1,281 7,339 .00 6,884 6,884 6,884 APPROPRIATED FUND BALANCE 31-30-050-997.0 APPROPRIATED FUND BALANCE .00 .00 .00 .00 1,596,250 1,596,250 1,596,250 Budget notes: -2018 Indudes: $550,000 Downtown Core Redevelopment,$796,250 Idaho St/Brown Circle Reconstruction and$250,000 Streets-Maintenance Improvements Projects(MIP.) Total APPROPRIATED FUND BALANCE: .00 .00 .00 .00 1,596,250 1,596,250 1,596,250 CARRY FORWARD REVENUE 31-30-055-998.0 CARRY FORWARD .00 .00 .00 1,081,827 .00 .00 .00 Total CARRY FORWARD REVENUE: .00 .00 .00 1,081,827 .00 .00 .00 Source:060 31-30-060-973.0 CIP TRANSFER FROM STREETS .00 .00 .00 .00 235,000 235,000 220,000 31-30-060-981.0 TRANSFER FROM TOURISM LOT .00 .00 .00 .00 13,000 13,000 13,000 Total Source:060: .00 .00 .00 .00 248,000 248,000 233,000 OTHER REVENUE 31-30-070-100.0 LOCAL OPTION TAX-LODGING .00 .00 .00 400,000 .00 .00 .00 31-30-070-100.1 LOCAL OPTION TAX-STREETS .00 1,235,581 1,123,878 820,000 1,600,000 1,600,000 1,600,000 31-30-070-102.0 LOCAL OPTION TAX-PENALTY .00 2,358 7,969 .00 .00 .00 .00 31-30-070-200.0 SEWER LINE IMPROV.-PLRWSD .00 .00 .00 .00 104,800 104,800 104,800 Total OTHER REVENUE: .00 1,237,939 1,131,847 1,220,000 1,704,800 1,704,800 1,704,800 Total LOCAL OPTION TAX FUND REVENUE: .00 1,239,220 1,139,186 2,401,827 3,555,934 3,555,934 3,540,934 CITY OF MCCALL Budget Worksheet-Budget Development Page: 50 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget LOCAL OPTION TAX DEPARTMENT PERSONNEL EXPENSE 31-49-100-110.0 SALARIES AND WAGES .00 26,381 27,289 34,156 35,300 35,647 35,647 31-49-100-140.0 OVERTIME PAY .00 .00 .00 .00 .00 .00 .00 31-49-100-147.0 FICA .00 1,346 1,357 2,118 2,189 2,210 2,210 31-49-100-148.0 MEDICARE .00 315 317 495 512 517 517 31-49-100-149.0 RETIREMENT-PERSI .00 2,807 3,268 3,866 3,996 4,035 4,035 31-49-100-150.0 WORKER'S COMPENSATION .00 67 78 113 116 117 117 31-49-100-151.0 HEALTH INSURANCE .00 8,432 16,238 14,251 23,430 23,430 23,430 31-49-100-152.0 DENTAL INSURANCE .00 208 313 313 384 384 384 31-49-100-157.0 LIFE INSURANCE .00 61 76 94 94 94 94 31-49-100-158.0 EMPLOYEE GOLF PASS .00 .00 .00 .00 .00 .00 .00 31-49-100-160.0 EMPLOYEE RECOGNITION .00 .00 .00 50 50 50 50 Total PERSONNEL EXPENSE: .00 39,617 48,936 55,456 66,071 66,484 66,484 OPERATING EXPENSE 31-49-150-210.0 DEPARTMENT SUPPLIES .00 476 156 500 .00 .00 .00 31-49-150-260.0 POSTAGE .00 278 .00 500 .00 .00 .00 31-49-150-300.0 PROFESSIONAL SERVICES .00 195 .00 100 .00 .00 .00 31-49-150-305.0 SOFTWARE SUPPORT-CASELLE .00 .00 1,726 .00 1,728 1,728 1,728 31-49-150-350.0 ENGINEERING .00 27,998 .00 250,000 .00 .00 .00 31-49-150-400.0 ADVERTISING .00 132 215 .00 .00 .00 .00 31-49-150-440.0 PROFESSIONAL DEVELOPMENT .00 .00 326 1,500 1,500 1,500 1,500 31-49-150-540.0 MAINT.-PREVENTATIVE TRTMT .00 .00 .00 150,000 .00 .00 .00 31-49-150-541.0 MAINT.-ROUTINE TRTMT .00 .00 .00 200,000 .00 .00 .00 31-49-150-546.0 MAINT.-STORMWATER TRTMT .00 .00 .00 100,000 .00 .00 .00 31-49-150-595.0 BAD DEBT .00 318 2,901 300 2,000 2,000 2,000 31-49-150-640.0 DIRECT COSTS .00 9,792 1,024 11,252 .00 .00 .00 Budget notes: Category F-Direct costs to collect and enforce the tax. Total OPERATING EXPENSE: .00 39,190 6,348 714,152 5,228 5,228 5,228 CAPITAL EXPENSE 31-49-200-702.0 MAINTENANCE IMPROVMNT PROJECTS .00 .00 .00 .00 350,000 350,000 335,000 Budget notes: -2018 Various Streets Improvement Projects 31-49-200-703.0 COMMERCE STREET .00 43,270 71,996 454,432 .00 .00 75,000 31-49-200-704.0 DOWNTOWN CORE REDEVELOPMENT .00 .00 .00 1,042,787 700,000 700,000 625,000 31-49-200-705.0 IDAHO STREET .00 .00 1,630 .00 1,138,800 1,138,800 1,138,800 31-49-200-706.0 E.DEINHARD LANE .00 .00 .00 .00 .00 .00 .00 31-49-200-707.0 2ND ST.-E.LAKE TO PARK .00 .00 .00 .00 .00 .00 .00 31-49-200-708.0 LENORA ST.-3RD TO 1ST .00 .00 .00 .00 .00 .00 .00 31-49-200-709.0 DOWNTOWN CORE STUDY .00 .00 61,228 35,000 .00 .00 .00 31-49-200-998.0 RESERVED-FUTURE PROJECTS .00 .00 .00 .00 1,295,422 1,295,422 1,295,422 Total CAPITAL EXPENSE: .00 43,270 134,854 1,532,219 3,484,222 3,484,222 3,469,222 Total LOCAL OPTION TAX DEPARTMENT: .00 122,076 190,137 2,301,827 3,555,521 3,555,934 3,540,934 CITY OF MCCALL Budget Worksheet-Budget Development Page: 51 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget GRANT EXPENSE GRANT EXPENSE 31-60-250-110.0 GRANTS-LHTAC .00 .00 .00 100,000 .00 .00 .00 Total GRANT EXPENSE: .00 .00 .00 100,000 .00 .00 .00 Total GRANT EXPENSE: .00 .00 .00 100,000 .00 .00 .00 LOCAL OPTION TAX FUND Revenue Total: .00 1,239,220 1,139,186 2,401,827 3,555,934 3,555,934 3,540,934 LOCAL OPTION TAX FUND Expenditure Total: .00 122,076 190,137 2,401,827 3,555,521 3,555,934 3,540,934 Net Total LOCAL OPTION TAX FUND: .00 1,117,144 949,049 .00 413 .00 .00 CITY OF MCCALL Budget Worksheet-Budget Development Page: 52 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget • GOLF FUND GOLF OPERATIONS FUND REVENUE DONATION REVENUE 54-30-040-970.0 PRIVATE CONTRIBUTIONS .00 .00 .00 .00 .00 .00 .00 Total DONATION REVENUE: .00 .00 .00 .00 .00 .00 .00 INTEREST REVENUE 54-30-045-100.0 INTEREST REVENUE 23 62 40 42 66 66 66 Total INTEREST REVENUE: 23 62 40 42 66 66 66 CARRY FORWARD REVENUE 54-30-055-998.0 CARRYFORWARD .00 .00 .00 30,000 .00 .00 .00 Total CARRY FORWARD REVENUE: .00 .00 .00 30,000 .00 .00 .00 INTER-FUND TRANSFER REVENUE 54-30-060-910.0 HEALTH CARE RESERVE .00 .00 .00 .00 .00 .00 .00 54-30-060-911.0 PARKS/GOLF TRANSFER 1,500 10,120 3,090 3,709 3,709 3,709 2,810 54-30-060-981.0 FUND TRANSFER FROM G.F. 119,000 100,000 77,930 93,520 93,520 93,520 100,000 54-30-060-982.0 CIP TRANSFER FROM G.F. 88,000 35,000 .00 .00 215,000 215,000 215,000 Budget notes: -2018 Includes: $40,000 Maint.Bldng.Addition,$30,000 Clubhouse buy-out,$35,000 Parking Lot Overlay,$60,000 Rough Mower,$40,000 Clubhouse HVAC Upgrade,and$10,000 Driving Range Well Pipe. Total INTER-FUND TRANSFER REVENUE: 208,500 145,120 81,020 97,229 312,229 312,229 317,810 OPERATIONS REVENUE 54-30-065-700.0 FACILITY OPERATIONS REVENUE 644,411 658,095 400,495 640,831 650,443 650,443 650,443 54-30-065-800.0 BAR&RESTAURANT REVENUE 4,638 5,829 2,845 5,000 30,000 30,000 30,000 Budget notes: City share 2%of gross revenue. Total OPERATIONS REVENUE: 649,049 663,924 403,339 645,831 680,443 680,443 680,443 OTHER REVENUE 5430-070-100.0 LOCAL OPTION TAX 30,000 65,000 88,000 88,000 30,000 30,000 30,000 54-30-070-110.0 RENTS&ROYALTIES .00 6,000 .00 .00 .00 .00 .00 54-30-070-700.0 EMPLOYEE GOLF PASSES 4,350 5,550 5,700 5,550 5,550 5,550 5,700 Budget notes: Employee benefit-season golf passes @$150 each. Budget based upon prior year actuals. 54-30-070-900.0 MISCELLANEOUS REVENUE 100 2,737 976 .00 .00 .00 .00 54-30-070-980.0 SALES OF SURPLUS PROPERTY 8,681 .00 186 .00 .00 .00 .00 54-30-070-990.0 CASH OVER\(SHORT) .00 .00 .00 .00 .00 .00 .00 Total OTHER REVENUE: 43,131 79,287 94,862 93,550 35,550 35,550 35,700 Total GOLF OPERATIONS FUND REVENUE: 900,703 888,393 579,261 866,652 1,028,288 1,028,288 1,034,019 CITY OF MCCALL Budget Worksheet-Budget Development Page: 53 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget GOLF OPERATIONS DEPARTMENT PERSONNEL EXPENSE 54-85-100-110.0 SALARIES AND WAGES 311,231 337,982 254,863 327,241 332,989 335,001 335,001 54-85-100-147.0 FICA 18,091 19,559 15,635 20,289 20,645 20,770 20,770 54-85-100-148.0 MEDICARE 4,231 4,574 3,656 4,745 4,828 4,858 4,858 54-85-100-149.0 RETIREMENT-PERSI 21,160 22,015 19,092 22,547 23,198 23,425 23,425 54-85-100-150.0 WORKER'S COMPENSATION 6,159 8,582 5,618 8,424 8,572 8,624 8,624 54-85-100-151.0 HEALTH INSURANCE 38,161 48,487 43,949 54,646 63,397 63,397 63,397 54-85-100-152.0 DENTAL INSURANCE 1,355 1,429 1,191 1,429 1,505 1,505 1,505 54-85-100-154.0 UNEMPLOYMENT 6,490 3,694 3,844 6,500 .00 .00 6,500 54-85-100-156.0 CLOTHING/UNIFORMS .00 .00 .00 .00 .00 .00 .00 54-85-100-157.0 LIFE INSURANCE 274 274 228 283 283 283 283 5485-100-159.0 GASB 68 PERSI EXPENSE 3,971- 646 .00 .00 .00 .00 .00 54-85-100-160.0 EMPLOYEE RECOGNITION 134 197 .00 255 150 150 150 Total PERSONNEL EXPENSE: 403,314 447,438 348,076 446,359 455,567 458,013 464,513 OPERATING EXPENSE 54-85-150-200.0 OFFICE SUPPLIES .00 .00 .00 250 250 250 250 54-85-150-210.0 DEPARTMENT SUPPLIES 8,825 10,461 10,523 10,000 10,000 10,000 10,000 54-85-150-216.0 SUPPLIES-SEED,SOD 6,795 16,307 13,561 14,000 12,000 12,000 12,000 Budget notes: Seed/sod for repair of winter damaged areas and new construction. 54-85-150-218.0 SUPPLIES-FERTILIZER 13,058 22,058 14,867 18,500 19,000 19,000 19,000 Budget notes: Compost 54-85-150-219.0 FIRST AID,SAFETY 151 160 62 150 150 150 150 54-85-150-220.0 TOP DRESSING SAND 3,116 3,209 7,078 7,110 6,000 6,000 4,000 54-85-150-222.0 CHEMICALS 26,973 28,022 22,953 23,681 29,000 29,000 27,676 54-85-150-223.0 BIOLOGICAL PRODUCTS .00 .00 3,189 2,500 4,000 4,000 4,000 54-85-150-225.0 ROADS/PATH REPAIR .00 2,385 .00 500 500 500 500 54-85-150-227.0 IRRIGATION MAINTENANCE 24,074 26,393 22,084 21,353 22,000 22,000 18,540 54-85-150-228.0 DRAINAGE MAINTENANCE 76 119 832 500 500 500 500 Budget notes: Drain pipe and gravel for sub-surface drain lines. 54-85-150-240.0 MINOR EQUIPMENT 843 2,364 1,444 1,760 2,000 2,000 2,000 54-85-150-250.0 MOTOR FUELS AND LUBRICANTS 24,750 16,402 13,179 24,000 22,000 22,000 22,000 54-85-150-260.0 POSTAGE .00 85 .00 50 50 50 50 54-85-150-280.0 LICENSES AND PERMITS 1,172 1,360 350 1,300 1,400 1,400 1,400 54-85-150-300.0 PROFESSIONAL SERVICES 1,005 890 538 1,000 1,000 1,000 1,000 54-85-150-308.0 GOLF OPERATIONS-PRO SHARE 7,477 29,242 28,372 29,000 28,500 28,500 19,000 54-85-150-400.0 ADVERTISING/LEGAL PUBLICATIONS 317 348 603 350 350 350 350 54-85-150-405.0 MARKETING 8,116 11,117 7,506 9,000 9,500 9,500 9,500 54-85-150-410.0 INSURANCE 7,689 8,465 8,465 8,465 8,888 8,888 8,888 54-85-150-420.0 TRAVEL AND MEETINGS .00 568 .00 500 500 500 500 54-85-150-435.0 BOOKS/PUBLICATIONS/SUBSCRIPTS .00 110 410 150 150 150 150 54-85-150-440.0 PROFESSIONAL DEVELOPMENT 2,758 5,496 3,637 3,500 4,500 4,500 4,500 54-85-150-460.0 TELEPHONE 1,379 1,005 877 1,176 1,200 1,200 1,200 54-85-150-461.0 CABLE ONE INTERNET SERVICES .00 767 930 1,180 1,200 1,200 1,200 54-85-150-490.0 HEAT,LIGHTS,AND UTILITIES 33,108 31,596 19,257 34,000 35,000 35,000 35,000 54-85-150-500.1 RENTAL-EQUIPMENT MAINTENANCE 600 330 .00 500 500 500 500 54-85-150-520.0 RENTAL-EQUIPMENT 1,473 3,311 688 1,500 1,500 1,500 1,500 54-85-150-522.0 PORTABLE TOILET-RENT CONTRACT 5,935 3,868 1,413 5,000 4,500 4,500 4,500 54-85-150-570.0 REPAIRS-BUILDING AND GROUNDS 13,886 13,830 9,485 4,000 4,000 4,000 4,000 54-85-150-575.0 REPAIRS-CLUBHOUSE 16,979 14,314 5,651 12,000 20,000 20,000 10,000 Budget notes: Building is aging and will require additional repairs each year. CITY OF MCCALL Budget Worksheet-Budget Development Page: 54 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget 54-85-150-580.0 REPAIRS-AUTOMOTIVE EQUIPMENT 115 527 59 750 750 750 750 54-85-150-590.0 REPAIRS-OTHER EQUIPMENT 28,226 25,707 21,314 22,068 25,000 25,000 25,000 Total OPERATING EXPENSE: 238,895 280,812 219,325 259,793 275,888 275,888 249,604 CAPITAL EXPENSE 54-85-200-702.0 CAPITAL PURCHASES .00 .00 11,725 49,725 60,000 60,000 60,000 Budget notes: -2018 Rough Mower$60,000 54-85-200-703.0 FACILITY IMPROVEMENTS .00 .00 .00 68,275 115,000 115,000 115,000 Budget notes: -2018$40,000 Maintenance Bldg.Addition,$65,000 Parking Lot Overlay,$10,000 Driving Range Well Pipe. 54-85-200-704.0 CLUBHOUSE IMPROVEMENTS .00 .00 .00 .00 70,000 70,000 70,000 Budget notes: -2018 Includes: $30,000 Clubhouse contract buyout and$40,000 Clubhouse HVAC upgrade. 54-85-200-705.0 LS REMOVAL/GRAVITY LINE .00 .00 .00 .00 .00 .00 .00 Total CAPITAL EXPENSE: .00 .00 11,725 118,000 245,000 245,000 245,000 INTER-FUND TRANSFER EXPENSE 54-85-600-905.0 ENGINEER TRANSFER 185 185 .00 .00 .00 .00 .00 54-85-600-910.0 ADMINISTRATIVE TRANSFER-GF 37,855 33,384 28,090 33,708 66,684 66,684 66,776 5485-600-915.0 GIS TRANSFER 16,290 16,290 1,340 1,609 1,609 1,609 92 54-85-600-972.0 FUND TRANSFER-NETWORK ADMIN 3,112 3,384 5,990 7,183 8,034 8,034 8,034 Total INTER-FUND TRANSFER EXPENSE: 57,442 53,243 35,420 42,500 76,327 76,327 74,902 OTHER EXPENSE 54-85-650-980.0 DEPRECIATION EXPENSE 139,979 139,452 .00 .00 .00 .00 .00 Total OTHER EXPENSE: 139,979 139,452 .00 .00 .00 .00 .00 Total GOLF OPERATIONS DEPARTMENT: 839,631 920,945 614,547 866,652 1,052,782 1,055,228 1,034,019 CITY OF MCCALL Budget Worksheet-Budget Development Page: 55 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget CONTINGENCY-GOLF FUND CONTINGENT REVENUE 54-99-075-100.0 CONTINGENT REVENUE .00 .00 .00 70,000 100,000 100,000 100,000 Total CONTINGENT REVENUE: .00 .00 .00 70,000 100,000 100,000 100,000 CONTINGENT EXPENSE 54-99-750-100.0 CONTINGENT EXPENSE .00 .00 .00 70,000 100,000 100,000 100,000 Total CONTINGENT EXPENSE: .00 .00 .00 70,000 100,000 100,000 100,000 Total CONTINGENCY-GOLF FUND: .00 .00 .00 140,000 200,000 200,000 200,000 GOLF FUND Revenue Total: 900,703 888,393 579,261 936,652 1,128,288 1,128,288 1,134,019 GOLF FUND Expenditure Total: 839,631 920,945 614,547 936,652 1,152,782 1,155,228 1,134,019 Net Total GOLF FUND: 61,073 32,552- 35,286- .00 24,494- 26,940- .00 CITY OF MCCALL Budget Worksheet-Budget Development Page: 56 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget WATER FUND WATER FUND REVENUE FEE REVENUE 60-30-020-200.0 WATER CONNECTION FEES 27,300 35,100 20,800 15,750 15,000 15,000 15,000 60-30-020-300.0 WATER TURN ON/OFF FEES 7,200 5,135 5,785 6,000 6,000 6,000 6,000 60-30-020-900.0 PENALTIES 6,721 6,091 5,187 6,700 5,000 5,000 5,000 60-30-020-910.0 SERVICE CHARGES 802 652 691 600 500 500 500 Total FEE REVENUE: 42,024 46,978 32,463 29,050 26,500 26,500 26,500 GRANT REVENUE 60-30-025-115.0 DEO GRANT .00 23,484 72- 87,500 8,750 8,750 8,750 Total GRANT REVENUE: .00 23,484 72- 87,500 8,750 8,750 8,750 INTEREST REVENUE 60-30-045-100.0 INTEREST REVENUE 3,426 10,483 17,887 5,400 20,958 20,958 20,958 Total INTEREST REVENUE: 3,426 10,483 17,887 5,400 20,958 20,958 20,958 APPROPRIATED FUND BALANCE 60-30-050-997.0 APPROPRIATED FUND BALANCE .00 .00 .00 80,384 261,500 261,500 652,855 Budget notes: -2018 Includes: $8,750 DEQ grant match-Water Master Plan,$125,000 Downtown Core Redevelopment,and$127,750 Idaho St/Brown Circle Reconstruction. Total APPROPRIATED FUND BALANCE: .00 .00 .00 80,384 261,500 261,500 652,855 CARRY FORWARD REVENUE 60-30-055-998.0 CARRYFORWARD .00 .00 .00 .00 .00 .00 .00 Total CARRY FORWARD REVENUE: .00 .00 .00 .00 .00 .00 .00 INTER-FUND TRANSFER REVENUE 60-30-060-910.0 HEALTH CARE RESERVE .00 .00 .00 .00 .00 .00 .00 Total INTER-FUND TRANSFER REVENUE: .00 .00 .00 .00 .00 .00 .00 OPERATIONS REVENUE 60-30-065-100.0 WATER SERVICE REVENUE 2,025,676 2,065,461 1,683,134 2,000,000 2,100,000 2,100,000 2,100,000 60-30-065-700.0 WATER SYSTEM BUY-IN 336,263 266,100 145,396 112,500 90,000 90,000 90,000 Total OPERATIONS REVENUE: 2,361,939 2,331,561 1,828,530 2,112,500 2,190,000 2,190,000 2,190,000 OTHER REVENUE 60-30-070-410.0 IDAHO FUEL TAX REFUND .00 .00 135 .00 .00 .00 .00 60-30-070-535.0 REIMBURSABLE DEVEL.FEES .00 .00 .00 .00 .00 .00 .00 60-30-070-900.0 MISCELLANEOUS REVENUE 236 2,018 .00 .00 .00 .00 .00 60-30-070-990.0 CASH OVER\(SHORT) .00 .00 .00 .00 .00 .00 .00 60-30-070-995.0 BAD DEBT RECOVERY 36 25 .00 .00 .00 .00 .00 60-30-070-998.0 DONATED ASSETS 2,500 42,000 .00 .00 .00 .00 .00 Total OTHER REVENUE: 2,772 44,043 135 .00 .00 .00 .00 Total WATER FUND REVENUE: 2,410,160 2,456,549 1,878,943 2,314,834 2,507,708 2,507,708 2,899,063 CITY OF MCCALL Budget Worksheet-Budget Development Page: 57 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget CITY OF MCCALL Budget Worksheet-Budget Development Page: 58 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget WATER DISTRIBUTION PERSONNEL EXPENSE 60-64-100-110.0 SALARIES AND WAGES 248,132 176,961 123,768 164,440 241,422 244,454 229,620 60-64-100-140.0 OVERTIME PAY 577 86 629 1,711 2,774 2,837 2,664 60-64-100-147.0 FICA 14,756 10,097 7,923 10,301 15,140 15,332 14,402 60-64-100-148.0 MEDICARE 3,451 2,361 1,853 2,409 3,541 3,586 3,368 60-64-100-149.0 RETIREMENT-PERSI 27,356 18,899 15,116 16,782 27,643 27,993 26,295 60-64-100-150.0 WORKER'S COMPENSATION 8,237 8,718 4,840 7,358 10,814 10,952 10,287 60-64-100-151.0 HEALTH INSURANCE 48,366 40,152 36,516 38,853 77,669 77,669 84,572 60-64-100-152.0 DENTAL INSURANCE 2,101 1,316 1,081 1,120 1,955 1,955 2,216 60-64-100-153.0 PHYSICAL EXAMS 250 364 259 500 800 800 800 60-64-100-154.0 UNEMPLOYMENT .00 .00 .00 .00 .00 .00 .00 60-64-100-156.0 CLOTHING/UNIFORMS 3,205 1,470 1,568 1,400 1,400 1,400 1,400 60-64-100-157.0 LIFE INSURANCE 509 319 261 290 472 472 472 60-64-100-158.0 EMPLOYEE GOLF PASS 600 300 300 300 450 450 450 Budget notes: Employee benefit-season golf passes @$150 each. Budget based upon prior year actuals. 60-64-100-159.0 GASB 68 PERSI EXPENSE 5,127- 907 .00 .00 .00 .00 .00 60-64-100-160.0 EMPLOYEE RECOGNITION 428 187 103 330 250 250 250 Total PERSONNEL EXPENSE: 352,840 262,138 194,215 245,794 384,330 388,150 376,796 OPERATING EXPENSE 60-64-150-200.0 OFFICE SUPPLIES .00 .00 .00 50 .00 .00 .00 60-64-150-210.0 DEPARTMENT SUPPLIES 10,606 31,521 4,040 12,000 12,000 12,000 12,000 60-64-150-220.0 FIRST AID/SAFETY 1,028 600 296 3,500 2,000 2,000 2,000 60-64-150-222.0 CHEMICALS 26,742 .00 .00 .00 .00 .00 .00 60-64-150-240.0 MINOR EQUIPMENT 10,468 4,108 2,968 7,500 7,500 7,500 7,500 60-64-150-250.0 MOTOR FUELS AND LUBRICANTS 8,646 6,243 4,578 9,000 9,000 9,000 9,000 60-64-150-260.0 POSTAGE 6,821 6,356 5,250 8,000 18,000 18,000 18,000 60-64-150-300.0 PROFESSIONAL SERVICES 34,813 10,789 5,858 10,000 10,000 10,000 10,000 60-64-150-300.1 PROF.SVCS.-RATE STUDY .00 .00 .00 .00 50,000 50,000 50,000 60-64-150-301.0 PROFESSIONAL SERVICES-BILLS 3,612 3,658 3,076 3,900 7,700 7,700 7,700 60-64-150-302.0 LABORATORY TESTING .00 .00 .00 7,104 1,000 1,000 1,000 60-64-150-310.0 ATTORNEY SERVICES .00 .00 .00 1,000 1,000 1,000 1,000 60-64-150-350.0 ENGINEER SERVICES 7,388 53,996 1,653 20,000 10,000 10,000 10,000 60-64-150-360.0 REIMBURSABLE DEVEL.FEES .00 .00 .00 .00 .00 .00 .00 60-64-150-400.0 ADVERTISING/LEGAL PUBLICATIONS 106 18 54 500 500 500 500 60-64-150-410.0 INSURANCE 26,310 28,964 28,964 28,964 62,523 62,523 62,523 60-64-150-420.0 TRAVEL AND MEETINGS 330 698 40 1,000 1,000 1,000 1,000 60-64-150-430.0 DUES AND SUBSCRIPTIONS .00 .00 .00 .00 .00 .00 .00 60-64-150-435.0 BOOKS/PUBLICATIONS/SUBSCRIPTS 69 45 .00 .00 250 250 250 60-64-150-440.0 PROFESSIONAL DEVELOPMENT 4,384 2,123 3,092 5,000 7,500 7,500 7,500 60-64-150-460.0 TELEPHONE 6,589 3,201 1,920 5,472 5,000 5,000 5,000 60-64-150-461.0 DSL .00 .00 .00 .00 .00 .00 .00 60-64-150-465.0 COMMUNICATIONS-RADIO 522 .00 767 1,800 3,000 3,000 3,000 60-64-150-490.0 HEAT,LIGHTS,AND UTILITIES 118,234 19,027 10,286 37,246 25,000 25,000 25,000 60-64-150-496.0 DEQ ASSESSMENT&WATER RIGHTS 12,813 13,441 2,387 13,500 15,000 15,000 15,000 60-64-150-521.0 RENTAL-EQUIPMENT 4,575 4,575 4,575 4,600 5,000 5,000 5,000 Budget notes: Lease term ends 01/2018 60-64-150-560.0 REPAIRS-OFFICE EQUIPMENT 30 .00 .00 200 1,000 1,000 1,000 60-64-150-570.0 REPAIRS-BUILDING AND GROUNDS 11,530 .00 500 5,000 5,000 5,000 5,000 60-64-150-580.0 REPAIRS-AUTOMOTIVE EQUIPMENT 2,112 1,157 1,999 7,500 1,000 1,000 1,000 60-64-150-590.0 REPAIRS-OTHER EQUIPMENT 46,022 19,516 28,766 50,000 40,000 40,000 40,000 60-64-150-591.0 REPAIRS-WATER METERS/MXU'S 9,962 4,067 7,519 15,000 15,000 15,000 15,000 Budget notes: CITY OF MCCALL Budget Worksheet-Budget Development Page: 59 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget Continued MXU replacements @$150 each. 60-64-150-595.0 BAD DEBT 3,857 566 391 3,000 3,000 3,000 3,000 Total OPERATING EXPENSE: 357,567 214,667 118,979 260,836 317,973 317,973 317,973 CAPITAL EXPENSE 60-64-200-702.0 CAPITAL PURCHASES .00 .00 .00 .00 .00 .00 .00 60-64-200-703.0 WATER LINE IMPR.-LOT STREETS .00 .00 .00 33,000 252,750 252,750 252,750 Budget notes: -2018 Includes: $125,000 Downtown Core Redevelopment and$127,750 Idaho St/Brown Circle Reconstruction. 60-64-200-717.0 SCADA .00 .00 .00 .00 .00 .00 60,000 60-64-200-720.0 LINE REPLACEMNT-CITY WIDE .00 1 128,436 25,000 .00 .00 .00 60-64-200-723.0 DEQ GRANT-WATER MASTER PLAN .00 .00 51,486 87,500 8,750 8,750 8,750 60-64-200-724.0 DEQ GRANT-MATCH-WATER MASTER .00 .00 51,216 80,384 8,750 8,750 8,750 60-64-200-725.0 WTP IMPROVEMENTS .00 .00 .00 .00 .00 .00 .00 Total CAPITAL EXPENSE: .00 1 231,138 225,884 270,250 270,250 330,250 DEBT RELATED EXPENSE 60-64-350-802.0 SERIES'03 REF.BOND PRINCIPAL .00 .00 375,000 450,000 465,000 465,000 465,000 60-64-350-803.0 SERIES'03 REF.BOND INTEREST 114,824 81,804 27,838 33,405 17,205 17,205 17,205 60-64-350-812.0 DEQ H2O TREATMENT PRINCIPAL .00 .00 308,667 308,473 314,673 314,673 314,673 60-64-350-813.0 DEQ H2O TREATMENT INTEREST 63,203 57,759 51,242 51,436 45,236 45,236 45,236 Budget notes: Note matures 04/15/2024,P&I payment$179,954.67,Interest rate 2.0% Total DEBT RELATED EXPENSE: 178,027 139,563 762,747 843,314 842,114 842,114 842,114 INTER-FUND TRANSFER EXPENSE 60-64-600-905.0 ENGINEER TRANSFER 3,176 3,176 11,000 13,204 13,204 13,204 13,204 60-64-600-910.0 ADMINISTRATIVE TRANSFER-GF 102,733 116,196 90,600 108,721 152,647 152,647 162,097 60-64-600-915.0 GIS TRANSFER 17,183 17,183 9,390 11,264 11,264 11,264 22,332 60-64-600-920.0 PUBLIC WORKS TRANSFER 68,840 67,734 56,390 67,662 115,873 115,873 117,228 60-64-600-971.0 CAPITAL PROJECTS TRANSFER .00 4,184 .00 .00 .00 .00 .00 60-64-600-972.0 FUND TRANSFER-NETWORK ADMIN 21,223 21,648 19,880 23,851 26,761 26,761 26,761 Total INTER-FUND TRANSFER EXPENSE: 213,155 230,121 187,260 224,702 319,749 319,749 341,622 OTHER EXPENSE 60-64-650-980.0 DEPRECIATION EXPENSE 741,350 754,410 .00 .00 .00 .00 .00 60-64-650-985.0 AMORTIZATION EXPENSE .00 .00 .00 .00 .00 .00 .00 Total OTHER EXPENSE: 741,350 754,410 .00 .00 .00 .00 .00 Total WATER DISTRIBUTION: 1,842,939 1,600,900 1,494,339 1,800,530 2,134,416 2,138,236 2,208,755 CITY OF MCCALL Budget Worksheet-Budget Development Page: 60 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget . Budget Budget WATER TREATMENT PERSONNEL EXPENSE 60-65-100-110.0 SALARIES AND WAGES .00 80,996 67,839 72,567 118,772 119,935 119,935 60-65-100-140.0 OVERTIME PAY .00 2,162 1,216 906 1,024 1,044 1,044 60-65-100-147.0 FICA .00 5,178 4,293 4,555 7,427 7,501 7,501 60-65-100-148.0 MEDICARE .00 1,211 1,004 1,065 1,737 1,754 1,754 60-65-100-149.0 RETIREMENT-PERSI .00 9,413 7,660 8,317 13,561 13,695 13,695 60-65-100-150.0 WORKER'S COMPENSATION .00 3,021 2,474 3,279 5,280 5,333 5,333 60-65-100-151.0 HEALTH INSURANCE .00 11,873 10,934 11,510 18,541 18,541 18,541 60-65-100-152.0 DENTAL INSURANCE .00 669 573 583 858 858 858 60-65-100-156.0 CLOTHING/UNIFORMS .00 512 619 700 .00 .00 .00 60-65-100-157.0 LIFE INSURANCE .00 145 125 132 189 189 189 60-65-100-160.0 EMPLOYEE RECOGNITION .00 17 123 100 100 100 100 Total PERSONNEL EXPENSE: .00 115,198 96,860 103,714 167,489 168,950 168,950 OPERATING EXPENSE 60-65-150-200.0 OFFICE SUPPLIES .00 .00 .00 50 50 50 50 60-65-150-210.0 DEPARTMENT SUPPLIES .00 5,441 2,775 7,000 7,000 7,000 7,000 60-65-150-220.0 FIRST AID/SAFETY .00 72 .00 1,000 1,000 1,000 1,000 60-65-150-222.0 CHEMICALS .00 40,766 18,074 35,000 35,000 35,000 35,000 60-65-150-240.0 MINOR EQUIPMENT .00 1,824 4,476 5,000 3,000 3,000 3,000 60-65-150-250.0 MOTOR FUELS AND LUBRICANTS .00 1,432 2,605 3,000 3,000 3,000 3,000 60-65-150-260.0 POSTAGE .00 166 116 300 300 300 300 60-65-150-300.0 PROFESSIONAL SERVICES .00 13,520 9,350 15,500 15,000 15,000 15,000 60-65-150-302.0 LABORATORY TESTING .00 923 3,126 5,000 5,000 5,000 5,000 60-65-150-310.0 ATTORNEY SERVICES .00 .00 .00 .00 .00 .00 .00 60-65-150-350.0 ENGINEER SERVICES .00 5,864 9,293 37,000 20,000 20,000 20,000 60-65-150-400.0 ADVERTISING/LEGAL PUBLICATIONS .00 .00 .00 150 500 500 500 60-65-150-420.0 TRAVEL AND MEETINGS .00 94 .00 1,000 1,000 1,000 1,000 60-65-150-435.0 BOOKS/PUBLICATIONS/SUBSCRIPTS .00 193 .00 500 250 250 250 60-65-150-440.0 PROFESSIONAL DEVELOPMENT .00 1,694 1,109 2,000 2,500 2,500 2,500 60-65-150-460.0 TELEPHONE .00 3,853 3,233 5,432 5,500 5,500 5,500 60-65-150-490.0 HEAT,LIGHTS,AND UTILITIES .00 109,752 89,276 86,851 110,000 110,000 110,000 60-65-150-496.0 DEQ ASSESSMENT 8 WATER .00 .00 10,988 13,500 15,000 15,000 15,000 60-65-150-570.0 REPAIRS-BUILDING AND GROUNDS .00 10,159 501 22,000 20,000 20,000 20,000 60-65-150-580.0 REPAIRS-AUTOMOTIVE EQUIPMENT .00 1,301 118 2,500 2,500 2,500 2,500 60-65-150-590.0 REPAIRS-OTHER EQUIPMENT .00 30,804 11,934 20,000 25,000 25,000 25,000 Total OPERATING EXPENSE: .00 227,857 166,973 262,783 271,600 271,600 271,600 CAPITAL EXPENSE 60-65-200-717.0 SCADA .00 .00 .00 40,000 .00 .00 60,000 60-65-200-725.0 WTP IMPROVEMENTS .00 1- 20,154 87,512 .00 .00 150,000 Total CAPITAL EXPENSE: .00 .00 20,154 127,512 .00 .00 210,000 INTER-FUND TRANSFER EXPENSE 60-65-600-905.0 ENGINEER TRANSFER .00 .00 470 569 599 599 599 60-65-600-910.0 ADMINISTRATIVE TRANSFER-GF .00 16,236 16,440 19,726 21,286 21,286 39,159 Total INTER-FUND TRANSFER EXPENSE: .00 16,236 16,910 20,295 21,885 21,885 39,758 Total WATER TREATMENT: .00 359,291 300,897 514,304 460,974 462,435 690,308 CITY OF MCCALL Budget Worksheet-Budget Development Page: 61 Period:07/17 Aug 04,2017 03:10PM 09/2015 09/2016 07/17 2016-17 2017-18 2017-18 2017-18 Prior year 2 Prior year Cur YTD Current year 1st Request 2nd Request Tentative Account Number Account Title Actual Actual Actual Budget Budget Budget Budget CONTINGENCY-WATER FUND CONTINGENT REVENUE 60-99-075-100.0 CONTINGENT REVENUE .00 .00 .00 100,000 100,000 100,000 100,000 Total CONTINGENT REVENUE: .00 .00 .00 100,000 100,000 100,000 100,000 CONTINGENT EXPENSE 60-99-750-100.0 CONTINGENT EXPENSE .00 .00 .00 100,000 100,000 100,000 100,000 Total CONTINGENT EXPENSE: .00 .00 .00 100,000 100,000 100,000 100,000 Total CONTINGENCY-WATER FUND: .00 .00 .00 200,000 200,000 200,000 200,000 WATER FUND Revenue Total: 2,410,160 2,456,549 1,878,943 2,414,834 2,607,708 2,607,708 2,999,063 WATER FUND Expenditure Total: 1,842,939 1,960,190 1,795,237 2,414,834 2,695,390 2,700,671 2,999,063 Net Total WATER FUND: 567,222 496,358 83,706 .00 87,682- 92,963- .00 Net Grand Totals: 1,543,701 2,461,076 2,697,030 .00 423,868 155,823- .00 Report Criteria: Budget note year end periods:09/18 Exclude Funds:40,98,99,90,42,44,45,43,70 Print Fund Titles Page and Total by Fund Print Department Titles Page and Total by Department Print Department Titles Page and Total by Department Print Source Titles Total by Source Print Classification Titles Total by Classification All Segments Tested for Total Breaks AccountTermination Date={Is NULL} Hangar Number Bare Ground Covered ft& Total Uncovered Covered Lease Fee Blended Lease Fee Lease Fee Lease Fee Lease Fee ft&Rate Rate Ground Rate Rate (CURRENT) Rate (.25/.25) (.26/.26) (.27/.27) (.28/.28) 500 3,600.00 3,600.00 $ - $ - $ - $ - $ - $ - $ - 605 15,000.00 - 15,000.00 $ 0.094 $ 0.176 $ 1,410.00 $ 0.09 $ 1,410.00 $ 1,410.00 $ 1,410.00 $ 1,410.01 205 9,750.00 4,500.00 14,250.00 $ 0.098 $ 0.184 $ 1,783.50 $ 0.13 $ 1,783.50 $ 1,783.50 $ 1,783.50 $ 1,783.5 212 8,650.00 5,600.00 14,250.00 $ 0.124 $ 0.249 $ 2,467.00 $ 0.17 $ 2,467.00 $ 2,467.00 $ 2,467.00 $ 2,467.0 201 5,133.00 2,142.00 7,275.00 $ 0.135 $ 0.269 $ 1,269.15 $ 0.17 $ 1,269.15 $ 1,269.15 $ 1,269.15 $ 1,269.1 209 9,630.00 4,620.00 14,250.00 $ 0.132 $ 0.264 $ 2,490.84 $ 0.17 $ 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.8 214 9,630.00 4,620.00 14,250.00 $ 0.132 $ 0.264 $ 2,490.84 $ 0.17 $ 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.8. 706 10,339.00 4,661.00 15,000.00 $ 0.135 $ 0.269 $ 2,649.57 $ 0.18 $ 2,649.57 $ 2,649.57 $ 2,649.57 $ 2,649.5' 208 B 7,850.00 6,400.00 14,250.00 $ 0.123 $ 0.246 $ 2,539.95 $ 0.18 $ 2,539.95 $ 2,539.95 $ 2,539.95 $ 2,539.9: 210 A 6,260.00 3,250.00 9,510.00 $ 0.138 $ 0.265 $ 1,725.13 $ 0.18 $ 1,725.13 $ 1,725.13 $ 1,725.13 $ 1,725.1: 203 4,125.00 3,000.00 7,125.00 $ 0.132 $ 0.264 $ 1,336.50 $ 0.19 $ 1,336.50 $ 1,336.50 $ 1,336.50 $ 1,336.51 606 3,120.00 2,880.00 6,000.00 $ 0.132 $ 0.264 $ 1,172.16 $ 0.20 $ 1,172.16 $ 1,172.16 $ 1,172.16 $ 1,172.11 204 4,125.00 3,000.00 7,125.00 $ 0.144 $ 0.287 $ 1,455.00 $ 0.20 $ 1,455.00 $ 1,455.00 $ 1,455.00 $ 1,455.01 703 7,250.00 7,000.00 14,250.00 $ 0.139 $ 0.278 $ 2,953.75 $ 0.21 $ 2,953.75 $ 2,953.75 $ 2,953.75 $ 2,953.71 607 3,420.00 4,080.00 7,500.00 $ 0.135 $ 0.269 $ 1,559.22 $ 0.21 $ 1,559.22 $ 1,559.22 $ 1,559.22 $ 1,559.2: 603 9,480.00 11,520.00 21,000.00 $ 0.140 $ 0.281 $ 4,564.32 $ 0.22 $ 4,564.32 $ 4,564.32 $ 4,564.32 $ 4,564.3: 608 4,620.00 6,630.00 11,250.00 $ 0.139 $ 0.278 $ 2,485.32 $ 0.22 $ 2,485.32 $ 2,485.32 $ 2,485.32 $ 2,485.3: 601 9,000.00 12,000.00 21,000.00 $ 0.142 $ 0.284 $ 4,686.00 $ 0.22 $ 4,686.00 $ 4,686.00 $ 4,686.00 $ 4,686.01 211 10,000.00 8,000.00 18,000.00 $ 0.155 $ 0.310 $ 4,030.00 $ 0.22 $ 4,030.00 $ 4,030.00 $ 4,030.00 $ 4,030.01 602C 3,477.00 3,000.00 6,477.00 $ 0.156 $ 0.311 $ 1,475.41 $ 0.23 $ 1,475.41 $ 1,475.41 $ 1,475.41 $ 1,475.4 602 A 1,875.00 3,000.00 4,875.00 $ 0.159 $ 0.318 $ 1,252.13 $ 0.26 $ 1,218.75 $ 1,267.50 $ 1,252.13 $ 1,252.1: 602 8 1,875.00 3,000.00 4,875.00 $ 0.159 $ 0.318 $ 1,252.13 $ 0.26 $ 1,218.75 $ 1,267.50 $ 1,252.13 $ 1,252.1: 106 F 1,353.00 1,353.00 $ 0.264 $ 357.19 $ 0.26 $ 338.25 $ 351.78 $ 357.19 $ 357.11 523 1,530.00 1,530.00 $ 0.354 $ 414.63 $ 0.27 $ 382.50 $ 397.80 $ 413.10 $ 414.6: 210 B 4,350.00 4,750.00 9,100.00 $ 0.134 $ 0.390 $ 2,435.40 $ 0.27 $ 2,275.00 $ 2,366.00 $ 2,457.00 $ 2,435.41 106 G 1,653.00 1,653.00 $ 0.271 $ 447.96 $ 0.27 $ 413.25 $ 429.78 $ 446.31 $ 447.91 510 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.71 521 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7: 524 1,530.00 1,530.00 $ 0.271 $ 414.63 $ 0.27 $ 382.50 $ 397.80 $ 413.10 $ 414.6: 530 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7: 532 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.71 534 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 535 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 542 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 543 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 544 1,530.00 1,530.00 $ 0.354 $ 414.63 $ 0.27 $ 382.50 $ 397.80 $ 413.10 $ 414.6: 545 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 550 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 551 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 552 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 553 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 560 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.71 561 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 562 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 563 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7: 564 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 565 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.7! 566 1,512.00 1,512.00 $ 0.271 $ 409.75 $ 0.27 $ 378.00 $ 393.12 $ 408.24 $ 409.71 106 H 1,466.00 1,466.00 $ 0.303 $ 444.20 $ 0.30 $ 366.50 $ 381.16 $ 395.82 $ 410.41 106 C 1,369.00 1,369.00 $ 0.310 $ 424.39 $ 0.31 $ 342.25 $ 355.94 $ 369.63 $ 383.3: 526 1,539.00 1,539.00 $ 0.354 $ 544.81 $ 0.35 $ 384.75 $ 400.14 $ 415.53 $ 430.9: 541 1,530.00 1,530.00 $ 0.354 $ 541.62 $ 0.35 $ 382.50 $ 397.80 $ 413.10 $ 428.41 525 1,512.00 1,512.00 $ 0.362 $ 547.34 $ 0.36 $ 378.00 $ 393.12 $ 408.24 $ 423.31 540 1,512.00 1,512.00 $ 0.362 $ 547.34 $ 0.36 $ 378.00 $ 393.12 $ 408.24 $ 423.31 554 1,539.00 1,539.00 $ 0.362 $ 557.12 $ 0.36 $ 384.75 $ 400.14 $ 415.53 $ 430.9: 202 5,100.00 2,025.00 7,125.00 $ 0.362 $ 0.362 $ 2,579.25 $ 0.36 $ 1,781.25 $ 1,852.50 $ 1,923.75 $ 1,995.01 208 A 7,850.00 6,400.00 14,250.00 $ 0.362 $ 0.362 $ 5,158.50 $ 0.36 $ 3,562.50 $ 3,705.00 $ 3,847.50 $ 3,990.01 213 9,630.00 4,620.00 14,250.00 $ 0.362 $ 0.362 $ 5,158.50 $ 0.36 $ 3,562.50 $ 3,705.00 $ 3,847.50 $ 3,990.01 701 11,750.00 2,500.00 14,250.00 $ 0.362 $ 0.362 $ 5,158.50 $ 0.36 $ 3,562.50 $ 3,705.00 $ 3,847.50 $ 3,990.01 704 11,500.00 2,750.00 14,250.00 $ 0.362 $ 0.362 $ 5,158.50 $ 0.36 $ 3,562.50 $ 3,705.00 $ 3,847.50 $ 3,990.01 705 6,448.00 8,177.00 14,625.00 $ 0.362 $ 0.362 $ 5,294.25 $ 0.36 $ 3,656.25 $ 3,802.50 $ 3,948.75 $ 4,095.01 707 8,600.00 6,400.00 15,000.00 $ 0.375 $ 0.375 $ 5,625.00 $ 0.38 $ 3,750.00 $ 3,900.00 $ 4,050.00 $ 4,200.01 106 A 1,320.00 1,320.00 $ 0.379 $ 500.28 $ 0.38 $ 330.00 $ 343.20 $ 356.40 $ 369.61 106 D 1,270.00 1,270.00 $ 0.387 $ 491.49 $ 0.39 $ 317.50 $ 330.20 $ 342.90 $ 355.61 106 E 1,328.00 1,328.00 $ 0.387 $ 513.94 $ 0.39 $ 332.00 $ 345.28 $ 358.56 $ 371.8, 207 9,750.00 4,500.00 14,250.00 $ 0.387 $ 0.387 $ 5,514.75 $ 0.39 $ 3,562.50 $ 3,705.00 $ 3,847.50 $ 3,990.01 702 9,030.00 5,220.00 14,250.00 $ 0.387 $ 0.387 $ 5,514.75 $ 0.39 $ 3,562.50 $ 3,705.00 $ 3,847.50 $ 3,990.01 522 1,512.00 1,512.00 $ 0.387 $ 585.14 $ 0.39 $ 378.00 $ 393.12 $ 408.24 $ 423.31 531 1,512.00 1,512.00 $ 0.387 $ 585.14 $ 0.39 $ 378.00 $ 393.12 $ 408.24 $ 423.31 533 1,512.00 1,512.00 $ 0.387 $ 585.14 $ 0.39 $ 378.00 $ 393.12 $ 408.24 $ 423.31 106 8 1,336.00 1,336.00 $ 0.390 $ 521.04 $ 0.39 $ 334.00 $ 347.36 $ 360.72 $ 374.01 520 1,512.00 1,512.00 $ 0.390 $ 589.68 $ 0.39 $ 378.00 $ 393.12 $ 408.24 $ 423.31 228,617.00 213,450.00 442,067.00 112,868.08 $ 94,719.92 $ 96,726.97 $ 98,597.65 $100,052.7: 18,148.16 16,141.11 14,270.43 12,815.31 ase Fee Lease Fee Lease Fee Lease Fee Lease Fee Lease Fee Lease Fee .29/.29) (.30/.30) (.31/.31) (.32/.32) (.33/.33) (.34/.34) (.35/.35) $ $ $ $ - $ $ 1,410.00 $ 1,410.00 $ 1,410.00 $ 1,410.00 $ 1,410.00 $ 1,410.00 $ 1,410.00 1,783.50 $ 1,783.50 $ 1,783.50 $ 1,783.50 $ 1,783.50 $ 1,783.50 $ 1,783.50 2,467.00 $ 2,467.00 $ 2,467.00 $ 2,467.00 $ 2,467.00 $ 2,467.00 $ 2,467.00 1,269.15 $ 1,269.15 $ 1,269.15 $ 1,269.15 $ 1,269.15 $ 1,269.15 $ 1,269.15 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.84 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.84 $ 2,490.84 2,649.57 $ 2,649.57 $ 2,649.57 $ 2,649.57 $ 2,649.57 $ 2,649.57 $ 2,649.57 2,539.95 $ 2,539.95 $ 2,539.95 $ 2,539.95 $ 2,539.95 $ 2,539.95 $ 2,539.95 1,725.13 $ 1,725.13 $ 1,725.13 $ 1,725.13 $ 1,725.13 $ 1,725.13 $ 1,725.13 1,336.50 $ 1,336.50 $ 1,336.50 $ 1,336.50 $ 1,336.50 $ 1,336.50 $ 1,336.50 1,172.16 $ 1,172.16 $ 1,172.16 $ 1,172.16 $ 1,172.16 $ 1,172.16 $ 1,172.16 1,455.00 $ 1,455.00 $ 1,455.00 $ 1,455.00 $ 1,455.00 $ 1,455.00 $ 1,455.00 2,953.75 $ 2,953.75 $ 2,953.75 $ 2,953.75 $ 2,953.75 $ 2,953.75 $ 2,953.75 1,559.22 $ 1,559.22 $ 1,559.22 $ 1,559.22 $ 1,559.22 $ 1,559.22 $ 1,559.22 4,564.32 $ 4,564.32 $ 4,564.32 $ 4,564.32 $ 4,564.32 $ 4,564.32 $ 4,564.32 2,485.32 $ 2,485.32 $ 2,485.32 $ 2,485.32 $ 2,485.32 $ 2,485.32 $ 2,485.32 4,686.00 $ 4,686.00 $ 4,686.00 $ 4,686.00 $ 4,686.00 $ 4,686.00 $ 4,686.00 4,030.00 $ 4,030.00 $ 4,030.00 $ 4,030.00 $ 4,030.00 $ 4,030.00 $ 4,030.00 1,475.41 $ 1,475.41 $ 1,475.41 $ 1,475.41 $ 1,475.41 $ 1,475.41 $ 1,475.41 1,252.13 $ 1,252.13 $ 1,252.13 $ 1,252.13 $ 1,252.13 $ 1,252.13 $ 1,252.13 1,252.13 $ 1,252.13 $ 1,252.13 $ 1,252.13 $ 1,252.13 $ 1,252.13 $ 1,252.13 357.19 $ 357.19 $ 357.19 $ 357.19 $ 357.19 $ 357.19 $ 357.19 414.63 $ 414.63 $ 414.63 $ 414.63 $ 414.63 $ 414.63 $ 414.63 2,435.40 $ 2,435.40 $ 2,435.40 $ 2,435.40 $ 2,435.40 $ 2,435.40 $ 2,435.40 447.96 $ 447.96 $ 447.96 $ 447.96 $ 447.96 $ 447.96 $ 447.96 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 414.63 $ 414.63 $ 414.63 $ 414.63 $ 414.63 $ 414.63 $ 414.63 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 414.63 $ 414.63 $ 414.63 $ 414.63 $ 414.63 $ 414.63 $ 414.63 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 $ 409.75 425.14 $ 439.80 $ 444.20 $ 444.20 $ 444.20 $ 444.20 $ 444.20 397.01 $ 410.70 $ 424.39 $ 424.39 $ 424.39 $ 424.39 $ 424.39 446.31 $ 461.70 $ 477.09 $ 492.48 $ 507.87 $ 523.26 $ 544.81 443.70 $ 459.00 $ 474.30 $ 489.60 $ 504.90 $ 520.20 $ 541.62 438.48 $ 453.60 $ 468.72 $ 483.84 $ 498.96 $ 514.08 $ 529.20 438.48 $ 453.60 $ 468.72 $ 483.84 $ 498.96 $ 514.08 $ 529.20 446.31 $ 461.70 $ 477.09 $ 492.48 $ 507.87 $ 523.26 $ 538.65 2,066.25 $ 2,137.50 $ 2,208.75 $ 2,280.00 $ 2,351.25 $ 2,422.50 $ 2,493.75 4,132.50 $ 4,275.00 $ 4,417.50 $ 4,560.00 $ 4,702.50 $ 4,845.00 $ 4,987.50 4,132.50 $ 4,275.00 $ 4,417.50 $ 4,560.00 $ 4,702.50 $ 4,845.00 $ 4,987.50 4,132.50 $ 4,275.00 $ 4,417.50 $ 4,560.00 $ 4,702.50 $ 4,845.00 $ 4,987.50 4,132.50 $ 4,275.00 $ 4,417.50 $ 4,560.00 $ 4,702.50 $ 4,845.00 $ 4,987.50 4,241.25 $ 4,387.50 $ 4,533.75 $ 4,680.00 $ 4,826.25 $ 4,972.50 $ 5,118.75 4,350.00 $ 4,500.00 $ 4,650.00 $ 4,800.00 $ 4,950.00 $ 5,100.00 $ 5,250.00 382.80 $ 396.00 $ 409.20 $ 422.40 $ 435.60 $ 448.80 $ 462.00 368.30 $ 381.00 $ 393.70 $ 406.40 $ 419.10 $ 431.80 $ 444.50 385.12 $ 398.40 $ 411.68 $ 424.96 $ 438.24 $ 451.52 $ 464.80 4,132.50 $ 4,275.00 $ 4,417.50 $ 4,560.00 $ 4,702.50 $ 4,845.00 $ 4,987.50 4,132.50 $ 4,275.00 $ 4,417.50 $ 4,560.00 $ 4,702.50 $ 4,845.00 $ 4,987.50 438.48 $ 453.60 $ 468.72 $ 483.84 $ 498.96 $ 514.08 $ 529.20 438.48 $ 453.60 $ 468.72 $ 483.84 $ 498.96 $ 514.08 $ 529.20 438.48 $ 453.60 $ 468.72 $ 483.84 $ 498.96 $ 514.08 $ 529.20 387.44 $ 400.80 $ 414.16 $ 427.52 $ 440.88 $ 454.24 $ 467.60 438.48 $ 453.60 $ 468.72 $ 483.84 $ 498.96 $ 514.08 $ 529.20 101,492.91 $ 102,933.10 $ 104,363.03 $ 105,774.87 $ 107,186.71 $ 108,598.55 $ 110,022.67 11,375.17 9,934.98 8,505.05 7,093.21 5,681.37 4,269.53