Appraisals and market rent analyses performed on all aeronautical properties, including either land only or land and improvements, shall meet the following minimum requirements:
- (1) An income analysis must be employed, through evaluating rental rates, fees and charges of similar aeronautical land and improvements at comparable airports.
- (2) All appraisals and analyses shall utilize current methods appropriate to valuation of aeronautical properties and facilities.
- (3) Survey data compiled by recognized aviation organizations may be used as ancillary support for rental rates and fees used in the process; however, all survey data used in the analysis shall be made available to lessor or lessee in the transaction.
- (4) Rates of return utilized in the income analysis shall be obtained through reasonable and acceptable methods and must be adequately discussed within the report.
Statutory/Other Authority
ORS 835.035, 835.040 & 835.112
Statutes/Other Implemented
ORS 835.035, 835.040, 835.112 & 836.055
History
AVIA 3-2002, f. 10-30-02 cert. ef. 11-1-02