| Date |
Text |
| 2020-03-25 06:58:18 | RECIEVED 2ND APPRAISAL VIA E-MAIL - SEE 3RD NFIP REVIEW |
| | FOR COMMENTS |
| | |
| | ADDRESS: 1007 N FLAGLER DR MASTER PERMIT: |
| | 20011283 |
| | |
| | NFIP REVIEW - APPRAISAL FOR SI/SD DETERMINATION |
| | |
| | REQUIREMENT - NFIP COMPLIANT APPRAISAL |
| | (MARKET VALUE OF THE STRUCTURE MINUS DEPRECIATION) |
| | |
| | CODES IN EFFECT: |
| | 2017 FLORIDA BUILDING CODE, 6TH EDITION W/2017 WEST |
| | PALM BEACH AMENDMENTS TO THE FLORIDA BUILDING CODE, |
| | CHAPTER 1 ADMINISTRATION |
| | FBC RE = FLORIDA RESIDENTIAL CODE 6TH EDITION 2017 |
| | CITY OF WEST PALM BEACH ORDINANCE NO. 4729-17 |
| | USPAP = UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL |
| | PRACTICE |
| | FEMA P-758 = SI/SD DESK REFERENCE |
| | |
| | CHRISTOPHER S. THROOP, C.B.O. |
| | BUILDING PLANS EXAMINER, PX3169 |
| | 1&2 FAMILY PLANS EXAMINER, SFP306 |
| | CONSTRUCTION SERVICES DIVISION |
| | TEL: 561-805-6726 |
| | FAX: 561-805-6676 |
| | E-MAIL: [email protected] |
| | |
| | 2ND REVIEW OF APPRAISAL |
| | |
| | RESULTS: DENIED |
| | |
| | PREVIOUS COMMENTS THAT HAVE BEEN ADDRESSED |
| | SATISFACTORILY ARE MARKED AS CORRECTED. |
| | PREVIOUS COMMENTS THAT HAVE NOT BEEN ADDRESSED |
| | SATISFACTORILY HAVE ADDITIONAL COMMENTS IN PARENTHESES. |
| | ANY NEW COMMENT WILL BE LISTED AFTER PREVIOUS COMMENTS. |
| | |
| | |
| | TYPE OF APPRAISAL: UNIFORM RESIDENTIAL APPRAISAL |
| | REPORT |
| | |
| | METHODOLOGY: CONVENTIONAL MARKET VALUE APPRAISAL |
| | (RE-SUB INCLUDES COST APPROACH METHODOLOGY TO ESTABLISH |
| | FEMA MARKET VALUE - REPLACEMENT COST MINUS DEPRECIATION |
| | - ACTUAL CASH VALUE - ACV) CORRECTED |
| | (ANALYSIS OF COMPARABLE SALES) (COST APPROACH) |
| | CORRECTED |
| | |
| | |
| | ADDRESS THE ATTACHED COMMENTS AND RE-SUBMIT |
| | |
| | 1. USPAP SR 2-2 (A) (I) REQUIRES APPRAISERS TO REPORT |
| | THE APPRAISALS INTENDED USERS. CORRECTED |
| | |
| | 2. USPAP SR 2-2 (A) (II) REQUIRES APPRAISERS TO REPORT |
| | THE APPRAISALS INTENDED USE. CORRECTED |
| | |
| | 3. USPAP SR 2-2 (A) (V) REQUIRES APPRAISERS TO STATE |
| | THE TYPE AND DEFINITION OF VALUE. VALUE STATED IS |
| | MARKET VALUE BASED ON AN ANALYSIS OF COMPARABLE SALES. |
| | CORRECTED (COST APPROACH SUBMITTED FOR REVIEW) (TOTAL |
| | COST NEW OBTAINED USING RS MEANS) |
| | |
| | 4. USPAP SR 2-2(A) (X) (I) STANDARD 1 - PROVIDE A NFIP |
| | COMPLIANT REPLACEMENT COST ESTIMATE WITH DEPRECIATION |
| | (ACTUAL CASH VALUE - ACV) FROM A RECOGNIZED COST |
| | ESTIMATING SERVICE SUPPORTED BY ADEQUATE DOCUMENTATION. |
| | (SEE NEW COMMENTS BELOW) |
| | |
| | 5. PROVIDE A COST BREAKDOWN OF PROPOSED WORK. CORRECTED |
| | FEMA P-758 DESK REFERENCE SECTION 4.4 |
| | |
| | NEW COMMENTS |
| | |
| | 4A. REPLACEMENT COST ESTIMATE ESTABLISHED USING RS |
| | MEANS - CORRECTED |
| | |
| | 4B.USPAP SR 2-2 (A) (X) (I) DEPRECIATION - STANDARD 1 - |
| | REQUIRES APPRAISERS TO USE AN ANALYTICAL PROCESS IN |
| | REACHING THEIR CONCLUSIONS. |
| | PLEASE REFERENCE - APPRAISAL / COST APPROACH / |
| | CALCULATIONS / PHYSICAL DETERIORATION FOR THE |
| | FOLLOWING: |
| | ECONOMIC LIFE WAS ESTABLISHED AT 70 YEARS |
| | EFFECTIVE LIFE WAS ESTABLISHED AT 10 YEARS |
| | 10/70=14.29% |
| | STRUCTURE WAS BUILT IN 1953 - THIS WOULD ESTABLISH A |
| | REMAINING HISTORICAL LIFE OF 4 YEARS (70-66) |
| | |
| | PROVIDE A RATIONAL ANALYSIS FOR THE INCREASE FROM A |
| | REMAINING HISTORICAL LIFE OF 4 YEARS TO AN EFFECTIVE |
| | LIFE OF 10 YEARS. |
| | |
| | 6. PLEASE REFERENCE - APPRAISAL - COST APPROACH - |
| | ANALYSIS/COMMENTS SECTION - RECONCILIATION : |
| | $411,000.00 IS THE DEPRECIATED COST OF THE MAIN |
| | BUILDING, EXCLUDING LAND VALUE, THE REAR BUILDING AND |
| | SITE IMPROVEMENTS. |
| | |
| | DEPRECIATED VALUE (ACV) OF THE BUILDING WAS ESTABLISHED |
| | AT $317,188 IN THE CALCULATIONS AND SUMMARY OF COST |
| | SECTIONS, PROVIDE CLARIFICATION FOR THIS RECONCILIATION |
| | STATEMENT OF $411.000.00. |
| | |
| | |
| | |
| | |
| | |
