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Data Collection/Research Assistant: This would be a new hire position under careful supervision by our <br />experienced staff. We typically have a researcher working at the firm and they would only assist with <br />Phase I. <br /> <br />Technical Approach <br />The following documents the scope of work: <br />Phase I.A. <br /> Investigation of commercial land sales in Orange County and surrounding areas. Sales will range <br />in size from small acreage to large acreage tracts. Land sales will be located using public records, <br />Triangle Multiple Listing Service (TMLS), CoStar, Loopnet, lending institution’s databases, realtor’s <br />files, appraiser’s files and Analytical’s own in-house data sources. It is worth noting that Analytical <br />Consultants has a significant existing database of verified land sales. Verification of land sales <br />will be made wherever possible with a buyer, seller or broker or realtor directly involved in the <br />transaction. Lawyers, lending institutions and public records are considered secondary data <br />sources and in some cases these sales may be disregarded.  Sales will be sorted by property <br />type. <br /> <br /> <br />Phase I.B. <br /> Investigation of commercial property rental rates, occupancy rates, expenses (on a per unit, per <br />square foot or expense ratio basis as appropriate) and capitalization rates in Orange County, the <br />surrounding areas, a regional basis or a national basis as applicable. Income information will come <br />from national surveys, local surveys, surveys made by Analytical for this assignment, Analytical’s <br />in-house files, CoStar and other sources. It is worth noting that Analytical Consultants has <br />performed over 1,700 commercial appraisals in Orange, Durham and Wake County since January <br />2008 and our files are a very good source of verified local, relevant income and expense data for <br />this assignment. Some property specific income and expense data from our files will need to <br />remain confidential in regards as to the exact property providing the information. <br /> There may be specific property types such as hotels and convenience stores where we will <br />purchase proprietary information / expertise from other vendors to populate the income modules. <br />Although some relatively inexpensive survey information is available, pointed actual information on <br />expenses of hotel and convenience stores in the local market is not widely available. Our fee is <br />inclusive of the cost of resources (surveys, data purchasing, outside consulting, etc.) needed to <br />complete the assignment, which in some cases will include payments to experts in the valuation of <br />certain properties. <br /> Income information will be sorted by property type with each property type being assigned a low, <br />medium and high range (ie Class A, B and C). Some property types will include limited information <br />on subcategories such as medical office as a subcategory of general office space. Retail will <br />include limited data on restaurants, drug stores and convenience stores. <br /> <br />Phase II <br /> Application of Data (provided by Analytical Consultants). Analytical Consultants will generate 2025 <br />preliminary revaluation assessed commercial property value recommendations. Please note that <br />we are not well versed in applying that assistance to mass valuation using mass valuation software <br />but will help the County by consulting on different ways to input the data to produce appropriate <br />results from the County’s software. We fully understand that the County will decide final assessed <br />values and that our recommendations may not be used. <br /> <br />DocuSign Envelope ID: 3D1A0201-2C5A-43CF-BDC1-C7B9405D331D