03 Jade Properties - Waiver Valuation 08-30-18
Waiver Valuation of:
Jade Properties LLC
APN No. 770-020-036
Temporary Construction Easement
Located at:
N/E Corner of Calle Tampico and Desert Club Drive, La Quinta Ca
Date of Report: Date of Value:
August 30, 2018 August 28, 2018
Prepared By:
Overland, Pacific & Cutler, LLC.
2280 Market Street, Suite 200
Riverside, CA 92501
Ph: 760.776.1238
Fx: 951.683.3901
www.opcservices.com
Prepared For:
City of La Quinta California
78-495 Calle Tampico
La Quinta, CA 92253
STATE OF CALIFORNIA • DEPARTMENT OF TRANSPORTATION
CERTIFICATE OF WAIVER VALUATION
RW 7-6A (REV 10/2005)
DISTRICT EA City Project Number
08 N/A 2015-03
I Hereby Certify:
That I have personally inspected the property herein and that the property owner has been afforded an opportunity to
be present at the time of the inspection. That to the best of m y knowledge and belief, the statem ents contained in the
W aiver Valuation herein set forth are true, and the information upon which the opinions expressed therein are based is
correct, subject to lim iting conditions therein set forth.
That I understand that such W aiver Valuation is to be used in connection with the acquisition of right of way for a highway
to be constructed by the City of La Quinta with the assistance of State funds.
That such W aiver Valuation has been made in conformity with the appropriate State laws, Title VI of the 1964 Civil
Rights Act, and regulations, policies, and procedures applicable to determ ining just com pensation for the required right
of way, and that, to the best of m y knowledge, no portion of the value assigned to such property consists of items which
are non-compensable under the established law of said State.
That neither m y em ploym ent nor m y com pensation for making this W aiver Valuation and report are in any way
contingent upon the values reported herein.
That I have no direct or indirect present or contem plated future personal interest in such property or in any benefit from
the acquisition of such property.
That I understand I m ay be assigned as the Acquisition Agent for one or m ore of the parcels contained in this report,
but this has not affected m y professional judgment nor influenced m y opinions stated herein.
That I have not revealed the finds and results of such W aiver Valuation to anyone other than the proper officials of the
California Departm ent of Transportation or officials of the Federal Highway Administration and I will not do so until so
authorized by State officials, or until I am required to do so by due process of law, or until I am released from this
obligation by having publicly testified as to such finds.
That my opinion of the total Waiver Valuation of parcel 770-020-036 included in this report and made a part hereof
by reference, as of the 28th day of August, 2018, is $7,100.00 and that such conclusion was derived without
collusion, coercion or direction as to value.
____________________________
John M. Cutler
Sr. Project Manager
Overland, Pacific & Cutler, LLC
August 30, 2018
ADA Notice For individuals with sensory disabilities, this document is available in alternate formats. For information call (916) 654-6410 or TDD (916) 654-3880 or write
Records and Forms Management, 1120 N Street, MS-89, Sacramento, CA 95814.
STATE OF CALIFORNIA • DEPARTMENT OF TRANSPORTATION EXHIBIT
SENIOR REVIEW CERTIFICATE AND 7-EX-24A (NEW 10/2005)
APPRAISAL REVIEW REPORT
(Form #)
DIST CO RTE KP P.M. City Project # AR#
08 Riverside N/A N/A N/A 2015-03 N/A
1. I have not personally inspected the subject property and the comparable data. I have read this report and I am satisfied
with the relative comparability noted. I am familiar with the subject property neighborhood and general area and I have relied
upon the photographs and exhibits in this report in analyzing and concurring in the conclusions contained herein.
2. The highest and best use of each property, as shown in the report, is reasonable and proper.
3. Gross Income Multipliers are supported with factual data. Not applicable.
4. The Cost Approach is supported by data from recognized sources. Not applicable.
5. The Income Approach to value, including the interest rates, is supported by data from the market. Not applicable.
6. Damages, Benefits and Construction Contract Work are correct and are supported in accordance with existing instructions.
Not applicable.
7. The amount listed for each parcel in the certificate is the market value amount approved or recommended for approval to
govern negotiation and settlement.
8. I understand that the approved value may be used in connection with a Federal-Aid highway project.
9. I have no direct or indirect, present or contemplated future personal interest in such property or in any benefit from the
acquisition of such property appraised.
10. The amount approved or recommended for approval is not a directed amount; it was arrived at fairly, without coercion, and
is based on appraisals and other factual data of record.
COMMENTS: The date of value is August 28, 2018
Parcel No. Temporary Construction Easement Waiver Valuation: Damages Benefits C. C. W.
770-020-036 1,760 sq. ft. $7,100.00 $0.00 $0.00 $0.00
September 3, 2018
Date Victoria Cook
ADA Notice For individuals with disabilities, this document is available in alternate formats. For information call (916) 654-5413, Voice,
CRS: 1-800-735-2929 or write Right of Way, 1120 N Street, MS-37, Sacramento, CA 95814.
STATE OF CALIFORNIA • DEPARTMENT OF TRANSPORTATION
WAIVER VALUATION ($10,000 OR LESS)
DIST CO RTE KP P.M. City Project # AR# DIST
08 Riverside N/A N/A N/A 2015-03 N/A 08
DATE: August 30, 2018
SUBJECT: Waiver Valuation ($10,000 or less)
DATE OF VALUE: August 28, 2018
OWNER: Jade Properties, LLC, an Alaskan limited liability company
PROPERTY IDENTIFICATION: Assessor’s Parcel Number 770-020-036
INTEREST VALUED: Temporary Construction Easement (TCE)
TCE AREA TO BE ACQUIRED : 1,760 sq. ft. of take area
PROJECT DESCRIPTION: La Quinta Village Complete Streets Project.
PROPERTY DESCRIPTION: Improved with a single-user commercial building and attendant parking
ZONING: VC – Village Commercial
HIGHEST and BEST USE: Commercial Development in compliance with the current zoning
Type of Take Square Feet Property Value/Sf. Rate* Term** TCE Value
TCE 1,760 $20.00 11% 22 Months $7,100.00
TCE VALUATION: $7,100.00
IMPROVEMENTS***: $ 0.00
MITIGATION MEASURES: $ 0.00
DAMAGES: $ 0.00
OTHER PERTINENT DATA: The subject property is an approximate 1.38 acre parcel that is zoned VC (Village Commercial) and is improved
to a highest and best use as a commercial developed property. The improvement is currently a single-user building, approximately 14,300 sq.
ft. in size with attendant parking, along with reciprocal parking and ingress and egress easement with the other commercially developed parcels
within the development. Since the subject easements do not affect the improvements, the valuation is limited to the land value only. The
comparable sales and listings, all of which have the same VC zoning as the subject property, are located in an area beginning approximately
900 feet southerly of the subject property. The six comparable sales and listings range in price from $9.90 per sq. ft. to $22.82 per sq. ft. and
range is time from October 2016 to a current escrow. Quantitative adjustments were made to the comparable data, as necessary, to adjust for
various factors of comparability, such as size, location, configura tion, time of sale, etc. The subject property’s location is slightl y superior to
the data. After taking all of the data into consideration, a value of $20.00 per sq. ft. was concluded. When applied to the subject taking of 1,760
sq. ft., the TCE valuation for the 22 month period of the taking was concluded to be $7,100.00 (rounded).
The proposed project improvements will convert the La Quinta Village into a bicycle and pedestrian friendly, Complete Street atmosphere. The
three major streets in the Village; Calle Tampico from Eisenhower Drive to Washington Street, Eisenhower Drive from Calle Tampico to Calle
Sinaloa, and Calle Sinaloa/Avenue 52 from Eisenhower Drive to Washington Street; will be reduced from four lanes down to two lanes and
include bicycle facilities and on-street parking. In addition, five roundabouts will be constructed in order to link the road diet segments together.
*10% annual rate, plus 1% for real estate taxes
** Twenty-two month duration of the project, (the Rate is calculated per annum)
*** It is assumed that any improvements within the TCE area will be protected in place or will be replaced in kind by contrac tor.
TOTAL WAIVER VALUATION: (Rounded) $7,100.00
Project Limits: The subject project
extends along Calle Tampico from
Desert Club Drive to Eisenhower
Street and Along Avenida
Bermudas from Calle Tampico
through Avenue 52.
CONFIDENTIAL
This document contains personal
information and pursuant to Civil Code
1798.21, it shall be kept confidential in
order to protect against unauthorized
disclosure.
The undersigned inspected and valued the property contained herein and recommend approval of this report:
John M. Cutler
Overland, Pacific & Cutler, LLC
The undersigned has reviewed and approved this report and certifies that the requirements of the R/W Manual have been met.
Victoria Cook
Overland, Pacific & Cutler, LLC
ADA Notice For individuals with disabilities, this document is available in alternate formats. For information call (916) 654 -5413, Voice,
CRS: 1-800-735-2929 or write Right of Way, 1120 N Street, MS-37, Sacramento, CA 95814.
Subject Property Parcel Map
Subject Property Photograph
Westerly view of the easterly portion of the TCE
Blue arrows indicate the approximate location of the easterly TCE area
View of the westerly portion of the TCE looking southerly
Blue arrow indicates the approximate boundaries of the TCE along the westerly property line
Comparable Data
1. COMP ADDRESS No Situs Address. APN: 770-153-002 (Sale)
Property Type Undeveloped Commercial Buyer: Nisha Jackson
Property Zoning: VC – Village Commercial Seller: Kenneth A. Schork, et. al.
Sale Date: 04/12/2017 Confirmed: Public Records/Broker
George Huston
Sale Price: $150,000.00
Lot Size: 11,633 sq. ft. (calculated per
assessor’s dimensions)
Price per SF: $12.89
2. COMP ADDRESS No Situs Address. APN: 770-153-002 (Escrow)
Property Type Undeveloped Commercial Buyer: N/A
Property Zoning: VC – Village Commercial Seller: Nisha Jackson
Escrow Date: Currently in escrow Confirmed: Broker George Huston, Broker
Escrow Price: $175,000
Lot Size: 11,633 sq. ft. (calculated per
assessor’s dimensions)
Price per SF: $15.04
3. COMP ADDRESS No Situs. APN: 770-153-005 (Sale)
Property Type Undeveloped Commercial Buyer: Old Town Artisan Studio,
Inc.
Property Zoning: VC – Village Commercial Seller: B&H La Quinta LLC
Sale Date: 10/26/2016 Confirmed: Buyer and Public Records
Sale Price: $209,500.00
Lot Size: 21,160 sq. ft. (calculated per
assessor’s dimensions)
Price per SF: $9.90
4. COMP ADDRESS 51355 Desert Club Drive. APN: 770-152-016 (Sale)
Property Type Undeveloped Commercial Buyer: Nisha Marie Jackson
Property Zoning: VC – Village Commercial Seller: Russ Clark
Sale Date: 02/06/17 Confirmed: Public Records
Sale Price: $300,000
Lot Size: 14,375 Price per SF: $20.87
5. COMP ADDRESS No Situs. APN: 770-152-015 (Listing)
Property Type Undeveloped Commercial Buyer: N/A
Property Zoning: VC – Village Commercial Seller: Parker Family Trust
Listing Date: 12-20-2017 Confirmed: Lisa Capone, Listing Broker
Listing Price: $315,000 (Reduced from
$350,000)
Lot Size: 15,163 sq. ft. Price per SF: $20.77
6. COMPS ADDRESS No Situs. APN 770-156-007 (Listing)
Property Type Undeveloped Commercial Buyer: N/A
Property Zoning: VC- Village Commercial Seller: Rick and Shelly Morris
Listing Date: 12/01/2017 Confirmed: Listing Agent Office La
Quinta Palms RE
Listing Price: $229,500
Lot Size: 10,057 sq. ft. Price per SF: $22.82
Discussion of Sales and Value Conclusion
Comparable Data #1 is a sale of an undeveloped VC zoned property that contained approximately 11,633 sq. ft. and is
located approximately 950 feet south of the subject property. The property sold in April of 2017 for $150,000 or
$12.89 per sq. ft. The property was purchased as an investment. This property’s location is inferior to the subject.
This sale is also inferior to the subject in time, since the sale was approximately 16 month prior to the date of value.
Comparable Data #2 is a current escrow of Comparable Data #1. It is currently in escrow for $175,000 or $15.04 per
sq. ft. This sale is comparable as to time but inferior to the subject as to location.
Comparable Data #3 is the sale of a 21,160 sq. ft. VC zoned property located approximately 1,000 feet south of the
subject property. The property sold in October of 2016 for $209,500 or $9.90 per sq. ft. The property was purchased
by the occupant to the west of the comparable property. The comparable i s inferior as to location and inferior as to
time of sale.
Comparable Data #4 is the sale of a 14,375 sq. ft. VC zoned property located approximately 850 feet south of the
subject property. This property sold in February 2017 for $300,000 or $20.87 per sq. ft. The property was purchased
as an investment. This data item is considered slightly inferior as to location and inferior as to time of sale.
Comparable Data #5 is a current listing of a 15,163 sq. ft. VC zoned property that is located approximately 850 feet
south of the subject property. It is currently listed for $315,000, which was recently reduced from its original listing
price in December 2017 of $350,000. According to the listing office, there has not been much interest shown in the
data property. This property is considered inferior in location and has been relied upon less because of it being a
listing vs. a sale.
Comparable Data #6 is a current listing of a 10,057 sq. ft. VC zoned property that is located approximately 900 feet
south of the subject property. It is currently listed for $229,000 or $22.82 per sq. ft. This property has been on the
market since December 2017. The listing agent is also the owner. This property is considered slightly inferior as to
location and has been relied upon less because of it being a listing vs. a sale.
Based upon the sales and listings above, in comparison to the subject property, a value of $20.00 per sq. ft. for the
subject property was concluded.
Comparable Sales and Listing Location Map
Legal Description of Larger Parcel
Legal Description and Plat of Taking