Florida Administrative Code › 62 - DEPARTMENT OF ENVIRONMENTAL PROTECTION › 62 - Departmental › Chapter 62-817 - LAND ACQUISITION PROCEDURES WITH PRESERVATION 2000 FUNDS › Section 62-817.007 - Appraisal Procedures, Appraisal Report Requirements and Determination of Maximum Approved Purchase Price

Current through Reg. 50, No. 138; July 16, 2024
(1) The party
				responsible for acquisition activities shall contract with the approved
				appraiser(s) qualified to appraise real property that is like the project site,
				according to contract requirements of the recipient or the Trust, whichever is
				responsible for acquisition activities.
(2) Techniques and methods used by the
				appraiser shall substantially conform to the Uniform Standards of Professional
				Appraisal Practice, as defined in Chapter 475, F.S.
(3) The party responsible for acquisition
				activities shall provide to the appraiser all pertinent title information
				developed in the title report, a specification of the rights to be acquired, a
				list of items, if any, considered to be noncompensable, minimum appraisal
				requirements that apply, required appraisal forms or formats, and an appraisal
				map or certified survey.
(4) An
				appraiser shall be approved whose name appears on the list of approved
				appraisers of the Florida Communities Trust. The Florida Communities Trust
				shall include on its list of approved appraisers any appraiser who is on the
				list of approved appraisers on file with the Division of State Lands,
				Department of Environmental Protection. The list of approved appraisers shall
				be on file for public examination in the offices of the Trust.
(5) Section
				 125.355(1)(a),
				F.S., for counties, and Section
				 166.045(1)(a),
				F.S., for municipalities, require that in any case in which a county or
				municipality, pursuant to the provisions of this section, seeks to acquire by
				purchase any real property for a public purpose, every appraisal must be in
				writing.
(6) The party responsible
				for acquisition activities shall obtain at least one appraisal by an approved
				appraiser for each purchase in an amount less than $500, 000.00. For each
				purchase in an amount greater than $500, 000.00, the party responsible for
				acquisition activities shall obtain at least two appraisals by approved
				appraisers.
(7) Determination of
				Maximum Approved Purchase Price.
(a) For
				purposes of calculating the Trust and the recipient shares of the purchase
				price paid for real property, a maximum approved purchase price shall be
				determined. The Trust grant approval agreement will describe financial
				participation by the Trust and the recipient on a percentage basis. The Trust
				considers that the maximum purchase price in which it will participate shall be
				the maximum approved purchase price. If the recipient or its agent negotiates a
				purchase price higher than the maximum approved purchase price, the recipient
				shall pay all the purchase price amount over the maximum approved purchase
				price, in addition to the local match percentage share of the maximum approved
				purchase price.
(b) Appraisals
				shall be reviewed by a review appraiser who is employed by or under contract to
				the Trust. The review appraiser must meet the same qualifications as appraisers
				who conduct the appraisals. The review appraiser must certify to the Trust that
				the appraisals have been conducted substantially in accordance with this rule
				chapter and with correct appraisal standards and methods, and must certify the
				appraised value(s) of the subject real property. This certified value shall be
				referred to hereinafter as "the maximum approved purchase price."
(c) The maximum approved purchase price shall
				be the value indicated in a single reviewed and approved appraisal if only one
				appraisal is required. If two appraisals are obtained and approved when only
				one is required by this rule chapter, the maximum approved purchase price shall
				be the higher value indicated in the appraisals, so long as the higher
				appraisal value is not greater than 120% of the lower appraisal
				value.
(d) The maximum approved
				purchase price of a project site or parcel within a project site shall not
				exceed the higher value indicated in the two appraisals that have been reviewed
				and approved by the review appraiser.
(e) If two appraisals are required and their
				values do not differ significantly, the maximum approved purchase price shall
				be the higher value indicated in the two appraisals. The two appraisals, shall
				be considered to differ significantly if the higher of the two values exceeds
				120% of the lower value.
(f) When
				two appraisals required under subsection (6), above, differ significantly, the
				following steps shall be taken:
1. The review
				appraiser shall request that the two appraisers review the differences in their
				respective reports to attempt to rectify their value conclusions so that the
				two value conclusions are not significantly different,
2. A third appraisal shall be obtained if the
				two appraisals differ significantly and the differences cannot be rectified as
				in the above paragraph,
3. A third
				appraisal shall not be obtained if the decision is made by the party
				responsible for acquisition activities to negotiate an acquisition price of no
				more than 120% of the lower of the two reviewed and approved appraisals,
4. If a third appraisal is
				obtained and reviewed and approved, the maximum approved purchase price shall
				be the value contained in the higher of the two closest appraisals, so long as
				the two closest appraisals do not differ significantly. If the two closest
				appraisals differ significantly, 120% of the lower of the two appraisals shall
				be the maximum approved purchase
				price.