EDA staff weighs conservation offer using 'Yellow Book' appraisal for county parcel

EDA staff reported that a New River conservation group has offered to acquire a county-owned parcel by paying the property’s value as established in a Yellow Book (UASFLA) appraisal and then applying for grants to restore the land.

"They would pay us the value of a Yellow Book appraisal," a staff member said, adding that the group would take ownership and pursue bank and creek restoration through grant applications. Staff described the Yellow Book appraisal as a specialized, comprehensive valuation standard and said only a few appraisers perform that work.

The staff member outlined options for the EDA: accept the conservation group’s approach, put the parcel on the open market, or pursue an easement that would retain more local control. Board members pressed staff on whether the conservation group would pay for the appraisal and whether any payment or appraisal terms could be written to protect the county if the Yellow Book value came back lower than expected.

One staff speaker summarized the next step: ask the prospective buyer whether it will fund the appraisal and, if so, obtain the group’s requirements and bring the appraisal result and proposed terms back to the EDA for further discussion. The chair confirmed the board’s preference to wait for that information rather than proceed immediately.

A staff speaker noted prior appraisals in the area and cited an example cost of about $2,600 for a comprehensive appraisal in an earlier case; the speaker also emphasized that Yellow Book (UASFLA) appraisals are typically more extensive and may carry higher fees. The EDA did not take a formal vote on a sale or easement during the meeting.

What happens next: staff will ask the conservation group whether it will pay for the Yellow Book appraisal and will return to the EDA with the appraisal result and any conditions or requirements before the board considers a final disposition or agreement.