NEWPORT APPRAISAL GROUPnewportappraisal.com/Newport_Appraisal_Group.pdf · NEWPORT APPRAISAL GROUP 1 COMPANY ... Town of South Kingstown City of Cranston Corporate Client Summary:

NEWPORT APPRAISAL GROUP

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COMPANY QUALIFICATIONS

Office: 221 Third Street Newport, Rhode Island 02840 Phone (401) 846-1356 Fax (401) 846-8952 Principals: J. Nathan Godfrey State Certified Appraiser, General Certification - CGA.0A00479 John S. Crimmins State Certified Appraiser, General Certification - CGA.0A00501 Appraisers: George F. Valentine, Associate Appraiser State Certified Appraiser, General Certification - CGA.0A00682 State of Massachusetts Appraiser, #5581 Deborah L.B. Lichtenstein, Associate Appraiser State Certified Appraiser, Residential Certification - CRA.OA00764 Helen Vaughan, Associate Appraiser State Certified Appraiser, Residential Certification - CRA.0A00910 Mary Jane Cressman, Associate Appraiser State Certified Appraiser, General Certification - CGA.0A00974 Theresa Jaquet, Associate Appraiser State Certified Appraiser, Residential Certification - CRA.0A00940


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Approved Commercial Appraisers for: Bank of America BankNewport Sovereign Bank Coastway Community Bank The Washington Trust Company Compass Bank Citizens Bank NewportFed BankRI Digital Credit Union Approved Residential Appraisers for: Compass Bank BankNewport The Washington Trust Company NewportFed Chemical Bank of NY Riggs National Bank National Credit Union Washington Mutual Summary of Municipal & Governmental Clients: RI Housing & Mortgage Finance Corp. State of Rhode Island D.E.M. United States Postal Service State of Rhode Island D.O.T. State of Rhode Island D.B.R. RI Economic Development Corp. Town of Jamestown Town of Little Compton Town of Narragansett Town of Middletown Town of Portsmouth Town of Bristol Town of North Kingstown City of Warwick City of Cranston City of Providence Town of South Kingstown City of Cranston Corporate Client Summary: AT & T Wireless Communications Bell Atlantic Mobile Newport Harbor Corporation Shell Oil Co. McDonalds Corporation Stop & Shop Companies Texaco Bess Eaton Donut Flour Co. Inc. Bridgestone/Firestone Inc. Nature Conservancy NYNEX Mobile Brooks Pharmacy CVS


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Attorneys: Edwards & Angell Corcoran, Peckham & Hayes Tillinghast, Licht & Semonoff Joseph M. Hall Associates Silva Law Associates Sayer, Regan & Thayer Sheffield & Harvey Moore, Virgadamo & Lynch Miller, Scott, Howe & Kelley Partridge, Snow & Hahn

Residential Properties: Our experience in appraising residential properties includes over 12,000 reports,

primarily based on FNMA reporting formats. We have expertise in all Rhode Island residential markets, including high end/waterfront properties (Newport County, South County and Block Island and the East Bay) in addition to southeastern Massachusetts, Martha’s Vineyard, Nantucket and Cape Cod. Property types include single family, 2-4 family and condominiums. Complex and special use residential appraisals may be presented in a narrative format.

We have an extensive history and knowledge in the analyzing and appraising of

vacant land, subdivisions, easements, condemnations, mobile homes and other unique residential properties.

Commercial Properties: We have produced over 1,500 narrative reports on commercial properties. In

addition to non-complex small properties, our appraisers have developed expertise in analyzing hotels and motels, bed and breakfasts, automotive dealerships, gasoline service stations, medical and professional offices, retail facilities, restaurants, wharves and marinas.


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QUALIFICATIONS OF JOHN S. CRIMMINS

Office: 221 Third Street, Newport, Rhode Island 02840-1087 Phone: (401) 846-1356 Fax: (401) 846-8952 E-mail: [email protected] Position: Principal - Commercial and residential property consultant Certification: State of Rhode Island Appraiser, General, #CGA.0A00501

American Association of Certified Appraisers, Certified Appraiser-Senior National Association of Independent Fee Appraisers, Independent Fee Appraiser Senior

Education: Bachelor of Science, Biochemistry and Molecular Biology

Marlboro College, 1981 Appraisal courses, workshops and seminars including:

SREA - Course 101 - Introduction to Appraising Real Property, 1987 SREA - Course 102 - Applied Residential Property Valuation, 1988 SREA - Seminar - Capitalization Theory & Techniques, 1989 SREA - Exam Prep Seminar For State Certification, 1991 Appraisal Institute - Capitalization Theory & Techniques - Part A, 1990 Appraisal Institute - Arbitration Principles, Procedures & Pitfalls, 1992 Appraisal Institute - Hotel/Motel Valuation & Investment Seminar, 1992 Appraisal Institute - Valuation in Today's Capital & Financing Markets, 1992 Appraisal Institute - Standards of Professional Practice - Part A, 1992 Appraisal Institute - Capitalization Theory & Techniques - Part B, 1992 Appraisal Institute - Report Writing & Valuation Analysis, 1993 Appraisal Institute - Standards of Professional Practice - Part B, 1993 Appraisal Institute - Understanding Limited Appraisals - General, (1994) Appraisal Institute - Economic Factors in Real Estate Appraisals, 1996 Appraisal Institute - 1997 USPAP Update and Information Seminar Appraisal Institute - High-Tech Appraisal Office, 1997 Appraisal Institute - Loss prevention Seminar, 1997 Appraisal Institute - Standards of Professional Practice - Part C, 1998 Appraisal Institute - Conservation Easements, 1998 Appraisal Institute - Case Study in Environmentally Impaired Property, 1998 Appraisal Institute – 1999 USPAP Update Seminar, 1999 Appraisal Institute - Highest and Best Use Analysis - Course 520, 2000 Appraisal Institute - Special Purpose Properties, 2004 Appraisal Institute - Business Practice and Ethics, Course 420, 2004 Appraisal Institute - Appraisal of Local Retail Properties, 2004 Appraisal Institute – Evaluating Residential Construction, 2005 Appraisal Institute – General Applications, Course 320, 2006 Appraisal Institute – Business Practices and Ethics, 2015 Appraisal Institute – Report Writing and Case Studies, 2015


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Professional Experience:

Principal – Newport Appraisal Group, LLC (1997 to present) Commercial Real Estate Appraiser, Hogan Appraisal Associates, Inc. (1993 to 1996) Commercial Real Estate Appraiser, Peter M. Scotia & Associates (1992 to 1993) Real Estate Analyst, John Child & Company (1991 to 1992) Commercial Real Estate Appraiser, Schaeffer/Bates/McDonough (1987 to 1991)

Organizations Newport County Board of Realtors Board of Directors - Rhode Island Chapter of the Appraisal Institute Board of Directors - Newport County YMCA Properties Chairman - Newport County YMCA Board of Directors - Aquidneck Island Land Trust Board of Governors - Newport Hospital Treasurer - Rhode Island Chapter of the Appraisal Institute Middletown Beach Commissioner American Association of Certified Appraisers National Association of Independent Fee Appraisers, IFAS Appraisal Institute - Candidate for Designation Significant Clients: Washington Trust, BankNewport, BayBank, Rhode Island Hospital Trust National Bank, BancBoston Mortgage Company, BankBoston, Recoll Management, Savings Institute Bank & Trust, Bristol County Savings Bank, DEPCO/AMRESCO, Fleet Bank, Fleet Mortgage Company, Peoples Savings Bank, Citizens Bank, Slades Ferry Bank, Compass Bank, BankRI, Southern Pacific Bank, Bank of Hawaii, Bank of Tokyo, Bank of America, Federal Depository Insurance Company, First Hawaiian Bank, Hawaiian National Bank, Honolulu Federal Savings Bank, Mitsui Trust & Banking Co., Ltd., Nippon Credit Bank, Wells Fargo Bank, The Kyowa-Saitama Bank, The Estate of James Campbell Department of Hawaiian Homelands, Bishop Trust Co., Ltd., Hawaiian Trust Co., Ltd., Internal Revenue Service, Nature Conservancy, U.S. Department of Interior, Fish & Wildlife Services, Kaneohe Ranch, O.G. Hawaiian Corporation.


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QUALIFICATIONS OF J. NATHAN GODFREY

Office: 221 Third Street, Newport, Rhode Island 02840-1087 Phone: (401) 846-1356 Fax: (401) 846-8952 E-mail: [email protected]

Position: Principal - Commercial and residential property consultant Certifications: State of Rhode Island Appraiser, General, #CGA.0A00479

Education: Johnson and Wales College, Bachelor of Science, 1985

Appraisal Courses Completed: Appraisal Institute - Income Valuation of Small Mixed Use Properties (2001) Appraisal Institute – Highest & Best Use and Market Analysis (2000) Appraisal Institute - Standards of Professional Practice, Part C (1998) Appraisal Institute - Standards of Professional Practice, Part B (1995) Appraisal Institute - Standards of Professional Practice, Part A (1993) Appraisal Institute - Capitalization Theory & Technique, Part A (1992) Appraisal Institute - 101/Introduction to Appraising (1992) Seminars: Appraisal Institute – Uniform Standards/Federal Land Acquisitions (2005) Appraisal Institute – Appraising Local Retail Properties (2004) Appraisal Institute – 2001 USPAP Update (2001) Appraisal Institute - Federal Land Exchanges & Acquisitions (2000) Appraisal Institute - Marina Valuation Seminar (1999) Appraisal Institute - Appraising High Value and Historic Homes (1997) Appraisal Institute - RI Department of Transportation Condemnation (1996) Appraisal Institute - Appraising 1-4 Family Income Producing Properties (1996) Appraisal Institute - USPAP Update and Informational Review (1995) Appraisal Institute - The Appraiser as Expert Witness (1995) Appraisal Institute - Data Confirmation and Verification Methods (1995) Appraisal Institute - Appraisal of Retail Properties (1995) Appraisal Institute - Market Extractions - Income Properties (1995) Appraisal Institute - Americans with Disabilities Act Seminar (1992) National Business Institute – Current Issues in Subdivision and Zoning Law (2001) National Business Institute – Land Use Planning & Eminent Domain in RI (2000) Lincoln Institute of Land Policy – Valuing Land Affected by Conservation Easements (2001) Continuing Legal Education – The Value of Real Estate Conference (2002)


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Professional Experience:

Newport Appraisal Group, LLC (1997 through present) Principal & Managing Member. Commercial and residential property valuation, expert testimony, consulting services, tax appeal representation.

Hogan Appraisal Associates, Inc. (1991 through 1996). Commercial and

residential property valuation and data collection

Expert testimony: Rhode Island Superior Court, New York Supreme Civil Court, Manhattan District, Norfolk County, Massachusetts Family and Probate Court, Bristol County, Massachusetts Family and Probate Court, Rhode Island Department of Business Regulation, Coastal Resources Management Council

Expert testimony in Rhode Island: Bristol, Burrillville, Charlestown, Jamestown, Johnston, Middletown,

Newport, New Shoreham, North Kingstown, Portsmouth, Richmond, Smithfield, South Kingstown, Tiverton, Warren, Warwick and Westerly Zoning Boards of Review, Middletown and South Kingstown Town Councils

Expert testimony in Massachusetts: Ashburnham, Belmont, Brookline, Canton, Concord, Dartmouth, Easton,

Hopkinton, Mattapoisett, Milton, North Andover, Sharon, Somerset, Stow, Sudbury, Walpole, Westwood Zoning Boards of Review

Lectures: Rhode Island Land Trust Conference, Reviewing Appraisals and Assessing

the Market, 1999 Rhode Island Bar Association, Conservation Donations and the Appraisal

Process, 1999

Community Service: Past member of the Rhode Island Real Estate Appraisers Board (1999-2004), Member of the Zoning Board, Town of Narragansett

Significant Clients: AT&T Wireless Services, BankNewport, Bank RI, Bridgestone/Firestone,

Inc., Citizens Bank, Dunkin Donuts, NewportFed, Peoples Credit Union, Sovereign Bank, The Washington Trust Company, The Nature Conservancy, Texaco, City of Newport, Town of Narragansett, South Kingstown Land Trust, United States Fish & Wildlife Service, United States Postal Service, State of Rhode Island Department of Environmental Management


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QUALIFICATIONS OF GEORGE F. VALENTINE

Office: 221 Third Street, Newport, Rhode Island 02840-1087 Phone: (401) 846-1356 Fax: (401) 846-8952 E-mail: [email protected] Position: Senior Appraisal Associate Experience: Residential and Commercial Property Appraiser, 1992 to present Certification: Rhode Island General Certified Real Estate Appraiser: Certification No. #CGA.0A00682 Massachusetts General Certified Real Estate Appraiser License No.: 5581 Education: New England College, Bachelor of Arts, Business Administration Appraisal Courses (Attended & Completed):

Course 101 Introduction to Appraising Real Property Course 102 Residential Property Valuation Course 1BA Capitalization Theory and Techniques Course 510 Advanced Income Capitalization Course 520 Highest and Best Use and Market Analysis Course 550 Advanced Applications Course SPP Standards of Professional Practice, Part A Course SPP Standards of Professional Practice, Part B Seminars:

Impact of Lead Paint Condemnation by the State Department of Transportation Feasibility Analysis & Highest and Best Use Analysis The Valuation of Industrial Properties Appraising Apartments Market Extractions Residential Appraisal: Confronting Environmental Issues Argus Training Report Writing Land Use Planning and Eminent Domain in Rhode Island University of Rhode Island Courses: Course Res. 048, Law For Real Estate Title Examiners Member: Newport Board of Realtors National Association of Realtors


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Expert testimony: Middletown, North Kingstown, Glocester, Rhode Island; Zoning Boards of Review; Wendell, Concord, Milton, Stow, North Andover, Gloucester & Walpole, Massachusetts Zoning Boards of Appeals; Putnam Connecticut Zoning Board of Appeals; Providence Family Court


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QUALIFICATIONS OF DEBORAH L.B. LICHTENSTEIN

Office: 221 Third Street, Newport, Rhode Island 02840-1087 Phone: (401) 846-1356 Fax: (401) 846-8952 E-mail: [email protected] Position: Staff Appraiser, Newport Appraisal Group, LLC Experience: Residential Property Appraisals 1997 to present Certification: State of Rhode Island, Certified Residential Appraiser: #CGA.0A00764 Education: University of Rhode Island, Bachelor of Science 1975 Appraisal Courses (Attended & Completed):

Introduction to Appraising Real Property (1997) Applied Residential Property Valuation (1997) The Sales Comparison Approach (1997) The Income and Capitalization Theory & Techniques (1997) Standards of Professional Appraisal Practice, USPAP (1997)

Elementary income (2002) URAR (FNMA) Uniform Residential Appraisal Report (2002) Seminars: Title Search (1999) FHA’s Homebuyer (1999) Government Lending: HUD/FHA (1999) Review Appraisal Issues (1999) Taxes and Real Estate (2000) Boundary Law (2000) 20 Common Appraisal Errors (2000) Residential Construction (2001) Appraisal Reporting Technology (2001) Landlord Tenant Issues (2003) Big Three Environmental Issues (2003) USPAP Update (2003) Environmental Issues/Lead Hazard (2003) Professional Experience:

Newport Appraisal Group, LLC Gustave J.S. White Appraisals


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Memberships: National Association of Realtors Rhode Island Association of Realtors Newport County Association of Realtors


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QUALIFICATIONS OF HELEN S. VAUGHAN

Office: 221 Third Street, Newport, Rhode Island 02840-1087 Phone: (401) 846-1356 Fax: (401) 846-8952 E-mail: [email protected] Position: Staff Appraiser Certification: State of Rhode Island, Appraiser, #CGA.0A00910 Education: 1998, Uniform Residential Appraisals, JMB Real Estate Academy Courses 1998, University of New Hampshire, Masters in Business Administration 1973, Boston University, Bachelor of Science Appraisal Courses, workshops and seminars including: 1998, Basic of Real Estate Appraisals 1999, Appraising 1- 4 Family Residence 1999, Uniform Standards of Appraisal Practice 2000, Appraising Income Property 2000, Principals of Construction for Appraisers Professional Experience: 2002 – Present Newport Appraisal Group, LLC, Appraiser 1998 – 2001 McLean Associates, Gilford, NH, Appraiser 1985 – present – Self-employed Broker/Realtor


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QUALIFICATIONS OF HELEN S. VAUGHAN


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QUALIFICATIONS OF MARY JANE CRESSMAN

Office: 221 Third Street, Newport, R.I. 02840-1087 Phone: (401) 846-1356

Fax: (401) 846-8952 E-mail: [email protected] Position: Associate Appraiser Certification: State of Rhode Island, Trainee Appraiser, #CGA.0A00974 Education: University of Rhode Island, Bachelor of Arts, Urban Affairs, 1982 Appraisal Courses (Attended & Completed):

Basics of Appraisal Real Estate Analysis Sales Comparison Approach Income and Cost Approaches Uniform Standards of Professional Appraisal Practice

Professional Experience: 2003 – Present Newport Appraisal Group LLC, Appraiser

1985 – 1995 Town of North Kingstown, Rhode Island Principal Planner

1983 – 1985 City of Attleboro, MA, Assistant City Planner


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QUALIFICATIONS OF MARY JANE CRESSMAN


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QUALIFICATIONS OF THERESA JAQUET

Office: 221 Third Street, Newport, R.I. 02840-1087 Phone: (401) 846-1356

Fax: (401) 846-8952 E-mail: [email protected] Position: Staff Appraiser, Newport Appraisal Group, LLC Certification: State of Rhode Island, Appraiser, #CGA.0A00940 Education: Katherine Gibbs School, Providence, RI, Entrée Program (1983) Bernard Baruch College, City University of New York, BBA Degree in Marketing Management (1980 Appraisal Courses (Attended & Completed): Income Capitalization, Appraisal Institute (2006) General Applications, Appraisal Institute (2006) Basic Appraisal Principals, Appraisal Institute (2005) Basic Appraisal Procedures, Appraisal Institute (2005 Cost & Income Approaches, RI Association of Realtors (2002) Elementary Income, RI Association of Realtors (2002) Cost Approach, RI Association of Realtors (2002) Real Estate Analysis, RI Association of Realtors (2002) Sales Comparison Analysis, RI Association of Realtors (2002) Standards of Professional Appraisal Practice, ASOA (2002) Appraisal Trainee License, RI Association of Realtors (2002) Pre-Real Estate License, RI Association of Realtors (1987) Real Estate License, RI Association of Realtors (1987) Seminars: Governmental Lending, 2007 Environmental Issues, 2007 USPAP Update, 2006 New Fannie Mae Guidelines, 2005 Appraisal Report Writing, 2004 USPAP Update, 2004 Accessing Town Hall, 2004 Professional Experience:

2003 – Present Newport Appraisal Group, LLC, Appraiser 2001 – 2003 Flanagan Appraisal & Development, Trainee Appraiser 1998 – Abbott Properties


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Professional Experience: 1997 – 2001 Senior Services, Inc., Program Coordinator 1995 – Allen Property Mgmt

Organizations: Rhode Island Association of Realtors Warwick Rotary Club


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Documents

NEWPORT APPRAISAL GROUPnewportappraisal.com/Newport_Appraisal_Group.pdf · NEWPORT APPRAISAL GROUP 1 COMPANY ... Town of South Kingstown City of Cranston Corporate Client Summary: