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<br />Amencan Appraisal Associates
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<br />Seawalls
<br />Traffic Lights
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<br />.
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<br />American Appraisal will value the City's infrastructure, as identified above, American Appraisal will
<br />require data from the City which may include maps, CADs, pavement management systems,
<br />highway bid specifications and GIS system, as appropriate,
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<br />American Appraisal will assign dates of construction, depreciable lives and original cost estimates
<br />consistent with the methodology promulgated in the Statement. American Appraisal will assign
<br />current replacement values and apply reverse inflation indices to these values,
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<br />The application of "reverse inflation indices" adjusts the current Cost of Replacement estimates to
<br />price levels that would have prevailed at the time of original construction or purchase, The sources
<br />of the indices to be used will combine published research price trends for the various classes of
<br />infrastructure property and data maintained in our files for the same purpose,
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<br />American Appraisal will exclude interest costs, cost overruns, overhead/profit charged by
<br />contractors, and premiums paid for services performed, unless the city provides evidence of such
<br />historical cost,
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<br />SPECIFIC DATA ELEMENTS/DEFINITIONS
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<br />In preparing the comprehensive fixed asset record of the City's assets, we will provide the following
<br />items of data on each asset, as appropriate, The specific data elements to be captured are:
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<br />1. Asset Location - A system to identify the physical location of the appraised
<br />property (site, floor, room, ete.),
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<br />2, Building Identification - Where used, existing numerical identifications will
<br />remain; unidentified space will be numbered sequentially following the last
<br />assigned number,
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<br />3. Department Number - Existing numbers will be utilized, When not
<br />available, American Appraisal will identify those particular areas, Generally,
<br />only one unit number will be applied to a particular space, The largest
<br />department representation will be utilized,
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<br />4. Asset Number - A sequentially assigned asset number placed on controlled
<br />property by the Fixed Asset System, This can be a bar coded tag that is
<br />affixed to each controllable asset or a computer-generated number for group-
<br />controlled, or untaggable assets,
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<br />5, Asset Account Code - A major classification of property to identify major
<br />grouping of assets, i,e, buildings, land improvements, equipment, vehicles,
<br />ete.
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<br />6, Asset Classification Code - A subdivision of property to further identify
<br />assets, i,e. outdoor equipment, business machines, data processing
<br />equipment, furniture, audiovisual equipment, books, food service equipment,
<br />ete. This field may be used to include the City's commodity code.
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<br />City of Sunny Isles Beach
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<br />7
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<br />May 18, 2007
<br />2505-117 .027
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