STATE OF CALIFORNIA DEPARTMENT OF TRANSPORTATION CONFIDENTIAL EXHIBIT VALUATION SUMMARY STATEMENT This document contains personal information and pursuant to
Civil Code 1798.21, it shall be
kept confidential in order to
protect against unauthorized
disclosure.
08-EX-15C (REV 1/2024)
Dist. Co. Rte. P.M. Parcel No. Federal Aid
Project No. Date
01 MEN 01 60.6 13529-1, -2 0112000110 9/25/2024
Owner: City of Fort Bragg Date Acquired: over 5 years
Property Address: 955/ 955 S. Main Property to be Acquired: Part ☒ All ☐ Locale: Fort Bragg
Total Property Area: large Including Access Rights: Yes ☐ No ☒
BASIS OF VALUATION
Code of Civil Procedure Section 1263.320 defines Fair Market Value as follows:
a) The fair market value of the property taken is the highest price on the date of valuation that would be agreed to by a seller, being willing to sell but under no particular or urgent necessity for so doing, nor obliged to sell, and a buyer, being ready, willing, and able to buy but under no particular necessity for so doing, each dealing with the other with full knowledge of all the uses and purposes for which the property is reasonably adaptable and available. b) The fair market value of property taken for which there is no relevant, comparable market is its value on the date of valuation as determined by any method of valuation that is just and equitable.
Recent sales of comparable properties and income data are utilized as appropriate. Full consideration is given to zoning, development potential and the income the property is capable of producing.
BASIC PROPERTY DATA
Interest valued: Temporary Construction Easement/ Fee
Date of valuation: 8/22/2024
Applicable zoning: Highway Commercial
Area to be acquired: .03 acre TCE/ .10 acre fee
Highest and best use: Commercial
Current use: Public
CONFIDENTIAL EXHIBIT
VALUATION SUMMARY STATEMENT (Cont.) This document contains personal information and pursuant to
Civil Code 1798.21, it shall be
kept confidential in order to
protect against unauthorized
disclosure.
08-EX-15C (REV 1/2024)
BASIS OF VALUATION
1. The Sales Comparison approach is based on the
consideration of comparable land and improved sales.
Indicated value by Sales Comparison Approach $ 2,510.94 See attached sheet for principal transactions.
Value of the property being
acquired including the following
improvements:
Land: $ 2,510.94
Imps: $ NA
$ 2,510.94
CONFIDENTIAL EXHIBIT
VALUATION SUMMARY STATEMENT (Cont.) This document contains personal information and pursuant to
Civil Code 1798.21, it shall be
kept confidential in order to
protect against unauthorized
disclosure.
08-EX-15C (REV 1/2024)
JUST COMPENSATION FOR ACQUISITION $ 2,510.94
Rounded To $ 2,500.00
CONFIDENTIAL EXHIBIT
VALUATION SUMMARY STATEMENT (Cont.) This document contains personal information and pursuant to
Civil Code 1798.21, it shall be
kept confidential in order to
protect against unauthorized
disclosure.
08-EX-15C (REV 1/2024)
LIST OF PRINCIPAL TRANSACTIONS – VACANT
ADDRESS: 42480 Roseman Creek Road, Gualala
APN: 142-200-20
RECORDING DATE: 3/23/22
LISTING PRICE: $850,000
ADDRESS: 34205 Philo Greenwood Rd., Elk
APN: 130-010-08
RECORDING DATE: 4/1/2022
LISTING PRICE: $1,000,000
ADDRESS: 8821 S. HWY 1, Elk
APN: 131-030-33
RECORDING DATE: 8/30/2024
SALE PRICE: $1,700,000
CONFIDENTIAL EXHIBIT
VALUATION SUMMARY STATEMENT (Cont.) This document contains personal information and pursuant to
Civil Code 1798.21, it shall be
kept confidential in order to
protect against unauthorized
disclosure.
08-EX-15C (REV 1/2024)
AREAS WITHIN THE RIGHT OF WAY
Sub-parcel Area
13529-1 4435 s.f. Fee
13529-2 1094 s.f. TCE
Total Area = 5529 s.f.
CALCULATION
Parcel 13529-1:
.10 acre x $23,140.82/ acre Fee Value =$2,314.08
Parcel 13529-2
.03 acre x $23,140.82/ acre = $694.22 x 10% Annual TCE Value =$69.42 per year, or $5.79 per month $5.79 x 34 months = $196.86
Total = $2,314.08 + $196.86 = $2,510.94 rounded to $2,500.00
Lump Sum Total = $2,500.00