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DocuSign Envelope ID: D36FCB7D-OE56-4E5C-A96E-7CO5705C56F9 <br /> SCOPE OF WORK OVERVIEW: <br /> It is the understanding that Orange County has identified approximately 1,900-2,000 improved <br /> commercial and industrial parcels that need appraisal review and valuation support for their <br /> 2021 countywide revaluation project. Orange County and our firm, CCA, have worked <br /> successfully together during the last (2017) revaluation. Using updated parcel information <br /> provided by the County, market analysis developed by Analytical Consultants, Inc. CCA will <br /> develop a market-derived valuation for each county identified parcel using the sales <br /> comparison and income approach to value. CCA will also develop a reconciled valuation using <br /> all three approaches to value. Every valuation approach developed will be well supported and <br /> accessible for Orange County use. CCA is not to perform field inspections of each parcel. <br /> Orange County is also in the process of contracting with a local appraisal firm (Analytical <br /> Consultants, Inc.) to conduct and complete an in-depth market study of the commercial <br /> markets. This data includes sales, rents, income/expenses for the market area by property <br /> type. The compiled data and analysis will be available to CCA and utilized in the valuation <br /> process. <br /> It is the said goal for this proposed project's scope of work to commence this November 2019, <br /> with a 12-14 month estimated project duration. The project timeline has been developed to <br /> coincide with the delivery dates of market analysis and reports by Analytical Consultants, Inc. <br /> The reports will be completed by property type and will start with vacant land. <br /> Delivery of the developed valuations will be submitted in an Excel format. Preliminary valuation <br /> drafts will be provided to the County for review at various stages of the project and on an as <br /> needed basis. <br /> Orange County will provide Complete County Assessments with the following: <br /> -All relevant market data and information (sales, rents, income, etc.) collected and obtained <br /> over the past few years. Some of the information necessary is market surveys and <br /> questionnaires, relevant 2017 appeals data that was submitted and building permit <br /> information. <br /> -All work products and reports of the market analysis from Analytical Consultants, Inc. <br /> -All updated parcel information. Updated parcel information includes general parcel card <br /> characteristics and uploaded land valuations, building cost data, and any physical depreciation <br /> factors. The parcel card cost data to reflect 2021 revaluation data. It is important that the <br /> County provide accurate and reasonable site valuations and building cost data that will be <br /> implemented in the approaching revaluation. This modified cost approach completed by the <br /> County is factored and weighted within the overall reconciled value developed by CCA. <br /> 3 1 P a g e <br />