Joki/Property Appraisal at 1893 Airport RoadOW
A P0,
VAA
JOKI
& ASSOCIATES
Real Estate Appraisers
October 24, 2008
Fred A. Leistiko, Airport Manager
City of Kalispell r
PO Box 1997
Kalispell, MT 59903
RS
RE: Appraisal of the property addressed 1893 Airport Road, Kalispell, MT.
Dear Mr. Leistiko,
J. Michael Joki, MAI, SRA
This letter is a follow up to our previous conversations regarding the appraisal of the above
referenced property. It is my understanding you need an appraisal of this property as the city of
Kalispell would like to purchase the property but you and the property owner are in disagreement
on several issues. As we discussed earlier today I would need a legal opinion regarding the deed
restriction that limits this site to aviation use and the likelihood of its removal, and clarification
of whether or not there is a signed "through the fence" agreement with the property owner.
Additional issues may arise when I visit the site and interview the property owner. I believe this
apprisal assignment will be complex and some of the issues may not become apparent until I can
interview all of the parties involved and begin my research. Comparable data may require a
regional search which again depends on my findings once I begin the assignment. Also the scope
of this assignment should outline the appraisal issues that need to be addressed and hopefiilly
these include some of the concerns the property owner has as well.
My fee to complete this appraisal assignment is $12,000 and I require a 50% retainer to begin
the work, and the balance to be paid upon completion of the appraisal report. I can start the first
week of December, 2008 and it will take several weeks to complete the appraisal report. If you
have any questio s regarding these matters please feel free to call.
Sincerely n
v �
J. Michael Joki, SRA
P.O. Box 281 • Helena, MT 59624 • (406) 442-2159 Fax (406) 442-6196
Fred Leistiko
From: Nick Hogan [nickhogan@gmaii.com]
Sent: Friday, October 24, 2008 2:51 PM
To: airport@kalispell.com
Subject: Appraisal
Fred
The complexity and other issues surrounding the project have essentially directed the fee and timing. I could
start the project during the first week of November and finish by the first of December. The fee is $10,000 and
we would need 1/2 of that up front. We envision a regional search with significant time spent understanding the
project as well as time looking for solid comparable data that will lead to a reliable conclusion of value.
If I can answer any questions do not hesitate to contact me. I look forward to working on this project with you.
Nick
Nicholas J. Hogan, MAI
MT General Certificate No. 370
WY Permit No. 419
Hall-Widdoss & Co. P.C.
1001 SW Higgins Avenue, Suite 201
Missoula, MT 59803
Phone - (406) 721-3822
Fax - (406) 721-7848
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307 SpokaneAvenue 04
Whitefish, MT 59937
ffim
City of Kalispell
f!:.Mr. FredLeistiko, Airport
201 First Avenue East
Kalispell, Montana 99#
AMOUNTDESCRIPTION
$600.00
Work Performed for Appraisal Services for
Kalispell City Airport, Diamond Aire, 1893 Airport, Road, Kalispell, MT
Subtotal $600.00
Less Deposit
Total Due $600.00