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HomeMy WebLinkAboutPR 24489: PURCHASE OF PROPERTY FROM THE VIETNAMESE DOMINICAN SISTERS P.R.No. 24489 08/21/25 ht RESOLUTION NO. A RESOLUTION AUTHORIZING THE CITY MANAGER TO PURCHASE THE PROPERTY LOCATED AT 1148 9TH AVENUE FROM THE VIETNAMESE DOMINICAN SISTERS FOR THE TOTAL AMOUNT OF $280,000.00, PLUS APPLICABLE CLOSING COSTS; FUNDING FOR THIS PURCHASE IS AVAILABLE IN THE CAPITAL IMPROVEMENT ACCOUNT NO. 307-25-065-8511-00-20-000 WHEREAS, for nearly three decades, the Vietnamese Dominican Sisters have owned and operated the convent located at 1148 9th Avenue as a vital center for community engagement and ministry, particularly serving the Catholic community of Queen of Vietnam Catholic Parish; and WHEREAS, with opening of the new Holy Family Convent at the Holy Family Retreat Center in Beaumont, Texas, the Sisters' provincial needs have shifted, leading to the difficult decision of selling this property; and WHEREAS, the City expressed interest in purchasing the property as part of the Park and Recreation Department's expansion efforts and obtained an appraisal to establish the proposed purchase price of$254,000.00 (Exhibit"A"); and WHEREAS, the Vietnamese Dominican Sisters submitted a counteroffer (Exhibit "B") to sell the property for $350,000.00, which reflects their valuation and consideration of the property's significance; and WHEREAS, following careful review of the counteroffer, market conditions and the City's strategic goals for community development, the City submitted a final offer of $280,000.00 for the property; and WHEREAS, the Vietnamese Dominican Sisters accepted the $280,000.00 final offer price for the property, with both parties agreeing to split the closing costs (Exhibit"C"); and WHEREAS, the City Council finds it to be in the best interest of the City to authorize the City Manager and City Attorney to proceed with the acquisition and finalize the purchase of the property. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR,TEXAS: Section 1. That the facts and recitals in the preamble are true and correct. s.pr24489 Section 2. That the City Council hereby authorizes the City Manager and City Attorney to proceed with the acquisition of 1148 9th Avenue, contingent upon clear title, for the fair market value amount of$280,000.00, plus applicable closing costs. Section 3. That funding for this property acquisition is available in the Capital Improvement Account No. 307-25-065-8511-00-20-000. Section 4. That the City Manager and the City Attorney shall be authorized to execute the necessary closing documents as it relates to the purchase. Section 5. That a copy of the caption of this Resolution be spread upon the Minutes of the City Council. READ, ADOPTED, AND APPROVED on this day of , A.D. 2025, at a Meeting of the City Council of the City of Port Arthur, Texas,by the following votes: AYES: Mayor: Councilmembers: • NOES: CITY OF PORT ARTHUR: Charlotte M. Moses, Mayor ATTEST: Sherri Bellard, TMRC City Secretary APPROVED AS TO FORM: Roxann Pais Cotroneo, City Attorney s.pr24489 APPROVED FOR ADMINISTRATION: sote"/ Rona B on, City Manager APPROVED AS TO AVAILABILITY OF FUNDS: ?1 ) r„ Lynda" yn"Bosewel , M.A., ICMA-CM Director of Finance s.pr24489 Exhibit "A" (Appraisal Report) s.pr24489 APPRAISAL OF: 1148 9th Avenue Port Arthur, Texas PREPARED FOR: CITY OF PORT ARTHUR Mr. Huy Tran Compliance Officer PO Box 1089 Port Arthur, TX 77641 AS OF: April 11, 2025 BY: COOK & ASSOCIATES, INC. Mr. W. Burnell Cook, MAI, SRA Mr. Steve Peyton 2640 McFaddin Beaumont, Texas 77702 COOK & ASSOCIATES, INC. COOK & ASSOCIATES, INC. Real Estate Appraisers 2640 McFaddin • Beaumont, Texas 77702 • (409)835-1430 • Fax (409)835-7314 • Tax ID #76 0325476 w. Burnell Cook, MAI, SRA, CPA cookappr@gmail.com Stephen F. Peyton Lucas G. Cook April 15, 2025 Mr. Huy Tran Compliance Officer City of Port Arthur PO Box 1089 Port Arthur, TX 77641 RE: Appraisal of 1148 9th Avenue, Port Arthur, Texas Dear Mr. Tran: In compliance with your request, I have personally inspected and analyzed the above cap- tioned property for the purpose of developing an opinion of the Market Value in Fee Sim- ple Interest. As a result of my investigation and analysis, my opinion of the Market Value of the subject property, as of April 11, 2025, is: TWO HUNDRED FIFTY-FOUR THOUSAND ($254,000) DOLLARS This transmittal letter is followed by the certification of the appraisal and the APPRAISAL REPORT containing pages further describing the subject property and the appraisal pro- cess. Your attention is directed to the "General Underlying Assumptions" and "Limiting Conditions" which are considered usual for this type of assignment and have been includ- ed in the Addenda of the report. Respectfully submitted, COOK & ASSOCIATES is W. Burnell Cook, MAI, SRA Steve Peyton Texas State Certified Texas State Certified TX 1320838 — G TX 1325521 — R CERTIFICATION I certify that, to the best of my knowledge and belief: -- the statements of fact contained in this report are true and correct. - the reported analyses, opinions and conclusions are limited only by the reported assump- tions and limiting conditions, and are my personal, impartial and unbiased professional analyses, opinions and conclusions. -- I have no present or prospective interest in the property that is the subject of this report, and no personal interest with respect to the parties involved. -- I have performed an appraisal of the subject of this report within the three year period im- mediately preceding the agreement to perform this assignment. - I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. -- my engagement on this assignment was not contingent upon developing or reporting prede- termined results. -- my compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. -- W. Burnell Cook and Steve Peyton have made a personal inspection of the property that is the subject of this report. -- no one provided significant real property appraisal assistance to the person or persons sig p- ing this certification. -- the reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, which include the Uniform Standards of Professional Appraisal Practice. - the use of this report is subject to the requirements of the Appraisal Institute relating to re- view by its duly authorized representatives. -- as of the date of this report, I have completed the requirements under the continuing educa- tion program of the Appraisal Institute. - the appraisal assignment was not based on a requested minimum valuation, a specific val- uation or the approval of a loan. April 15, 2025 W. Burnell Cook, MAI, SRA Date Texas State Certified General TX 1320838-G April 15, 2025 Stephen F. Peyton Date Texas State Certified Residential TX-I 325521-R COOK & ASSOCIATES, INC. TABLE OF CONTENTS 1148 9th Avenue Port Arthur, Texas Introduction Letter of Transmittal Certification Summary of Salient Facts and Conclusions 1 General Information Intended Use/User 2 Client/Scope of Work 2 Subject Identification 2 Value Definition and Interest Valued 4 Exposure Time 4 Effective Date 4 Legal Description 5 Area/Property Analyses Area Analysis 5 Neighborhood Analysis 8 Site Description 10 Improvement Description 11 Highest and Best Use 12 Valuation Analyses Sales Comparison Analysis 13 Concluded Value 25 Addenda Subject Photos 26 Maps and Plats 33 JCAD Detail Building Sketch General Limiting Conditions Qualifications and Licenses COOK & ASSOCIATES, INC. 1 SUMMARY OF SALIENT FACTS AND CONCLUSIONS 1. Appraisal Type/Scope: Cost and Sales Comparison Approaches 2. Report Format: Narrative 3. Property Type: Residential Dwelling 4. Location: 1148 9th Avenue, Port Arthur, Texas 77642, being the NEC of 9th Avenue and Lewis Drive 5. Owner: Vietnamese Dominican Sisters of Mary 6. Site: 2.24 acres or 97,574SF (per JCAD rec- ords) 7. Improvements: Improvements include a 2,780 SF brick residence, carport, enclosed garage that are minimally contributory 8. Zoning: CR, Commercial Retail 9. Highest and Best Use As Vacant: Commercial or Multifamily Use As Improved: An interim residential use, as-is, until the land is redeveloped to its Highest and Best use, that being a Commercial or Multifami- ly use. 10. Value Indication: Sales Comparison Approach: $254,000 11. Date of Inspection: April 11, 2025 12. Date of Report: April 15, 2025 13. Effective Date of Value Estimate: April 11, 2015 14. Property Rights Appraised: Fee Simple 15. Final Opinion of Market Value: $254,000 COOK & ASSOCIATES, INC. 2 APPRAISAL REPORT CLIENT: Mr. Huy Tran Compliance Officer City of Port Arthur PO Box 1089 Port Arthur, TX 77641 APPRAISER: Mr. W. Burnell Cook, MAI, SRA Mr. Steve Peyton Cook & Associates, Inc. 2640 McFaddin Beaumont, Texas 77702 SUBJECT: 1148 9th Avenue, Port Arthur, Texas 77642 INTENDED USE OF REPORT: For the sole purpose of assisting the client in evaluating the subject property for potential purchase. This report is intended for use by Mr. Huy Tran and the City of Port Arthur Texas. Other uses or users are not intended by the appraiser. SCOPE OF WORK AND REPORTING PROCESS: This is an Appraisal Report which is intended to comply with the reporting requirements set forth under Rule 2 of the Uniform Standards of Professional Appraisal Practice for an Appraisal Report. As such, it presents relevant discussions of the data reasoning and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning and analysis is retained in the appraiser's file. The depth of discussion contained in this report is specific to the needs of the client and for the intended use stated above. The appraiser is not responsible for unauthorized use of this report. The subject has had a historical residential use for many years and is currently unoccu- pied. As the improvements thereon are nearing the end of their economic life they are considered interim in nature, as is, offering minimal contribution. As such, this report is the result of an appraisal process utilizing the Sales Comparison Approach only, being the primary approach to value. The appraiser did not use the Cost and Income Approaches to value, which is not considered necessary to develop a credible opinion of value, as the subject improvements are minimally contributory. Subject property identification: Identification of the subject property was provided by the client in the form of a physical address of the property. Subject property observation and physical data collection: The appraiser visited the subject property on April 11, 2015. All photographs of the subject site and facility were taken on this date. Physical features and construction data were obtained at the property visit. A floor plan will be presented later in the report and physical features will be summa- 4 rized. COOK & ASSOCIATES, INC. 3 Data collection and research: The subject property data such as size, physical features, location, quality and zoning are considered and presented in this report. Market data, in- cluding comparable vacant land sales and supply and demand are among the items re- searched and analyzed. The data is used to estimate the highest and best use of the sub- ject property and its market value. Extent of analysis: The documentation necessary to arrive at the opinion of value is considered in this appraisal report. The market data has been collected, confirmed and analyzed. Comparable land sales were chosen for their similar highest and best uses as outlined within the report. All sales were analyzed and compared to the subject property based on their similarities and dissimilarities. The applicable approaches were considered and reconciled in developing a final opinion of market value. Disclosures: Texas is a non-disclosure state in regards to details of sales transactions. Thus, our knowledge of sales data is not all-inclusive. Our data sources include Beau- mont, Mid-County and Orange County Multiple Listing Service, Commercial Gateway (HAR), local real estate brokers, as well as grantees, grantors, lessees and lessors. Ter- minology and definitions utilized are in accordance with banking regulations and the Dic- tionary of Real Estate Appraisal, Seventh Edition, (copyright 2022) by the Appraisal Insti- tute, or most recent revision. This appraisal is intended to comply with the requirements of the Appraisal Institute as well as the current Uniform Standards of Professional Appraisal Practice. COMPETENCY STATEMENT: Both USPAP and FIRREA minimum appraisal standards require that an appraiser have the knowledge and experience to complete an assignment competently. Additionally, FIRREA requires a competency statement. Wm. Burnell Cook, MAI, SRA has 41 years of commercial property appraisal experience. The appraiser has appraised properties similar to the subject in the Southeast Texas marketing area. This practical experience coupled with classroom training through the Appraisal Institute and other organizations complies with the Competency requirements of USPAP. The appraiser is a state certified general real estate appraiser. Steve Peyton has 35+ years of residential and commercial appraisal experience and has, under the supervision of Mr. Cook and other general certified appraisers, appraised various properties similar to the Subject. This experience, along with knowledge gained through numerous courses and seminars, com- plies with the Competency Rule. A complete qualifications statement and a copy of the certification for the appraisers are included in the Addenda. ENVIRONMENTAL DISCLAIMER: The appraiser is not an expert in determining the presence or absence of hazardous substances, defined as all hazardous or toxic materi- als, waste, pollutants or contaminants, including but not limited to asbestos, PCB, UFFI, or other raw materials or chemicals used in construction or otherwise present on the proper- ty. The appraiser assumes no responsibility for studies or analyses which would be re- quired to conclude the presence or absences of such substances or loss as a result of the presence of such substances. The client is urged to retain an expert in this field, if desired. However, the personal surface site inspection by the appraiser did not indicate the pres- ence of hazardous materials or contaminants. Therefore, the value opinion herein is based on the assumption that the subject conforms to applicable environmental regulations and is subject to that condition. COOK & ASSOCIATES, INC. 4 PURPOSE OF THE APPRAISAL: To estimate market value as referenced in Section 12, C.F.R. Part 34. Market Value as reported herein, is defined as: the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, in prudentlyand knowledgeably, and the price is the buyer and seller each acting assuming not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the pass- ing of title from seller to buyer under conditions whereby: 1. buyer and seller are typically motivated; 2. both parties are well informed or well advised, and acting in what they con- sider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in U.S. dollars or in terms of financial ar- rangements comparable thereto; and 5. the price represents the normal consideration for the property sold unaffect- ed by special or creative financing or sales concessions granted by anyone associated with the sale. INTEREST VALUED: Fee Simple Interest, as defined in Real Estate Terminology, is: An absolute fee; a fee without limitations to any particular class of heirs or restrictions, but subject to the limitations of eminent domain, escheat, police power, and taxation. An in- heritable estate. SALES HISTORY: There has been no sale of the property in a market related transaction in the three years immediately preceding the effective date of this report. Per owner repre- sentative, the property is currently offered for sale by the owner for $325,000 and a recent verbal offer of$225,000 was received but not accepted. Based on the following analysis, the asking price appears above market value. ESTIMATED EXPOSURE TIME: The exposure time estimate provided precedes the ef- fective date of this report. In estimating an exposure time for the subject property the ap- praiser has considered some or all of the following: • Current supply and demand factors • Current cost information • Analysis of historical sales information • Analysis of future income expectancy In the case of the subject property, an exposure time of 12 months is thought reasonable. EFFECTIVE DATE OF VALUE: April 11, 2025 DATE OF INSPECTION: April 11, 2025 COOK & ASSOCIATES, INC. 5 PROPERTY TAXES: Per attached Jefferson CAD tax records, the subject has a 2025 market value of$208,877 with an assessed value of$181,196. The subject owner is a tax exempt entity. However, taxes without exemptions are $5,983.09. (See appraisal district and tax account information in the Addenda.) DESCRIPTION OF REAL ESTATE APPRAISED: LEGAL DESCRIPTION: We have relied on the attached Jefferson CAD tax records as the legal description of the property. It describes the property as being Lot 4, Tr.1, Block 3, Range H, PALCO, Jefferson County, Texas AREA ANALYSIS: The subject area is known as the "Sabine-Neches Industrial area" or the "Golden Triangle" and is comprised of Hardin, Jefferson, Orange and Newton Coun- ties in Southeast Texas. The three major cities are Beaumont, Port Arthur and Orange. The cities are virtually contiguous as result of continuous development along their con- necting highways. Beaumont, the largest city and the county seat of Jefferson County, has a population of 115,282 per the 2020 census, down 2.6% from 118,296 in 2010. The pop- ulation of the four county area is 412,870 per the 2020 census, up 9,676 or 2.4% since 2010. Area city services, public utilities, schools and health facilities are considered to be good. The area climate is favorable with warm summers and mild winters. Area transportation resources include railroads, some deep water ports located in Port Ar- thur, Beaumont and Orange, four airports as well as good highway access. Jefferson County Airport, located adjacent to and west of Nederland, provides daily connector flights to Dallas. Medical facilities, located in Beaumont, Port Arthur, Groves, Nederland and Or- ange include eight major hospitals as well as a variety of facilities providing specialized and emergency care services. Major industries include shipping, petroleum and agriculture. In the early 1990's major federal, state and local prison complexes between Beaumont and Port Arthur in Mid- County were established. The area economy is primarily based on petrochemical refining and production related industries and has been since the Spindletop Oil discovery in 1901. A number of major petrochemical plants are located in this portion of the upper Texas Gulf Coast, typically along the Neches River and Sabine River in south Jefferson County and south Orange County. Many individuals from the three county area find employment in these area petrochemical complexes. Major plants located in the area include Motiva, Valero, DuPont, Total, Huntsman, Chevron, Mobil-Exxon and Goodyear. Economic conditions have been favorable in recent years, as area industrial plants have continued to expand. However, unemployment for the Beaumont/Port Arthur MSA is at 5.4% (January, 2025), down from 5.9% one year ago. Unemployment for the State of Texas is 4.1% for January, 2025, up from 3.9% in January 2024, and down from 4.2% a month ago. Local MSA employment is 175,300, up 11% since January, 2024 and up 8% since last month. COOK & ASSOCIATES, INC. 6 The economic forecast for the Golden Triangle area, including Beaumont, Port Arthur and Orange, remains relatively positive as renovations, additions and upgrades to existing oil, gas and petroleum facilities, primarily in mid and south Jefferson County continue. The na- tional economic downturn in late 2008 and 2009 and decline in oil prices caused some concern, with some projects being delayed, cancelled or put on hold. However, the Total, Motiva and the Valero expansions remained on track and are now complete. The five year, 10 billion dollar Motiva expansion was the largest single expansion in the United States in four decades. Cheniere Energy is building a 10 billion dollar LNG export facility adjacent to their new Sabine Pass gas import terminal in Cameron Parish, LA (just east of Sabine Pass, TX), now in operation. The expansion is projected to be substantially complete in 2022. Gold- en Pass Products has also announced authorization from the U.S. Department of Energy to export LNG, and began construction (March, 2019) of a 10 billion expansion for such purpose, projected to be complete in 2024. Final approval for investment in a $13 billion LNG facility in Sabine Pass was announced by Sempra on March 20, 2023. The Jefferson Energy Terminal, owned by JCP Energy Partners in Orange County on the Neches River across from the Port of Beaumont, was recently completed at a cost of± $50 million. The state of the art facility is now operating and shipping its first shipments of ethanol internationally. The Gulf Coast Project section of the controversial Keystone Pipeline project has recently been completed extending 487 miles from Cushing, OK to Nederland Texas. The pipeline project is planned to ultimately extend from Canada transporting crude oil to Texas Gulf Coast refineries. However, the project has recently encountered political/environmental obstacles. The ultimate outcome is unknown. In November, 2013, Natgasoline LLC, a subsidiary of Orascom Construction Industries (OCI) announced a 1.9 billion dollar methanol plant project to be located on 514 acres on SH 347 just south of Beaumont, which broke ground in March, 2014. The plant, completed in 2018, is one of the nation's largest methanol plants. Ground breaking for a $1 billion expansion to build a "blue" ammonia plant was December 7, 2022. Completion is antici- pated for 2025 with 1000 construction jobs and 100 permanent jobs anticipated. Additional expansion for a renewable fuels facility and a fertilizer plant is planned. Exxon-Mobil is nearing completion of a $1.2 billion expansion of their plant on US 90, just west of Beaumont. Construction of a 1.7 billion dollar ethylene production unit at the Total plant site in Port Arthur is also nearly complete. A 748 million dollar project to deepen and widen the Neches River portion of the Sabine Neches Ship Channel, as part of the Water Resources Reform and Development Act of 2013, was signed into law by President Obama. Initial funding of$18 million for fiscal year 2019 was reported in the Beaumont Enterprise on November 26, 2018. Initial phases of construction began in late 2019. $169.2 million in capital improvement is planned by the Port of Beaumont, to be funded in part by $85 million in bonds, with voter approval ob- tained November 7, 2017. The U. S. Army Corps of Engineers, in their recently announced COOK & ASSOCIATES, INC. 7 2021 Work Plan, allocated $68.5 million for the Sabine-Neches project underway. This project, in conjunction with completion of the Panama Canal expansion, completed in 2016, is expected to have a significant positive economic impact on Texas Gulf Coast ports and the Beaumont-Port Arthur MSA in general. In March, 2023, the 1,215 megawatt Orange County Advanced Power Station near Bridge City was approved by the Public Utility Commission. Entergy Texas, Inc. estimates the plant construction, now underway to be competed in 2026, potentially powering 230,000 homes. The Power Station is projected to cost $1.2 billion and create 7,000 construction jobs along with 27 permanent jobs. Currently, land has been acquired and construction begun for a new Chevron- Phillips/Qatar Energy facility near Texas 87 and FM 1006 in Orange; announced on No- vember 16, 2022, to be an $8.58 billion dollar project with 4,500 construction jobs and 500 full time jobs. A plant expansion currently underway at the Exxon-Mobil Beaumont refinery will employ 1,850 in construction jobs, with 40 to 60 permanent jobs, and increase crude refining capacity by two thirds, making it one of the nation's largest refineries. The Golden Triangle area, as does the Gulf Coast in general, experiences occasional hur- ricanes and tropical storms. Tropical Storm Harvey struck the area on August 30, 2017, with record rainfall and widespread flooding. Tropical Storm Imelda struck the area on September 19, 2019, also with widespread flooding and road closures, but to a lesser de- gree than experienced during Tropical Storm Harvey. Most flooding occurred in the west- erly portion of Jefferson County and easterly portion of Chambers County. A fairly rapid recovery was completed with minimal long term adverse effect. Most recently, the area in general suffered relatively minor damage from Hurricane Laura which struck the Camer- on/Lake Charles, Louisiana area, just to the east, on August 27, 2020. Damage in the Or- ange area was more extensive, being closer in proximity to landfall. Damage in the Lake Charles area was severe. Tropical Storm Beta, which struck the area on September 22, 2020, caused minimal damage. Hurricane Delta, which struck Lake Charles on October 9, 2020, caused moderate damage in the Beaumont, Port Arthur and Orange area. In response to the threat of hurricane damage, the US Corps of Engineers is constructing a coastal storm barrier system known as the Sabine to Galveston or Texas Coastal Spine Project. The project will extend 27 miles through Orange County coastal area, as well as coastal area of Jefferson County and the Bolivar Peninsula to Galveston. The project ini- tially began in Orange County in 2020 and is expected to be complete in 2031. The entire project is projected to take 20 years or more to complete with design and environmental studies for some areas not yet complete. Prices paid for existing real estate in general are increasing. Brokers are optimistic with increases in market activity related to continued petrochemical expansion anticipated over the next twelve months. Currently smaller office/shop/warehouse space is in short supply with new construction anticipated. An area map is included in the Addenda. COOK & ASSOCIATES, INC. 8 NEIGHBORHOOD ANALYSIS: The objective of a Neighborhood Analysis is to describe and analyze observable and/or quantifiable data that indicates discernible patterns of ur- ban growth, structure and changes that detract from or enhance property values. A neighborhood is a portion of a larger community in which there is a homogeneous grouping of inhabitants, buildings or business enterprises. Neighborhood boundaries may consist of well-defined natural or man-made barriers, or they may be, more or less, well- defined by a distinct change in land values or in the character of the inhabitants. The subject property is located south of Gulfway Drive and north of Thomas Boulevard, on 9th Avenue in Port Arthur. The subject neighborhood is generally considered to be the area south of Highway 73, west of Duff Drive, east of Memorial Drive and Woodworth Boule- vard and north of the Intracoastal Canal within the City of Port Arthur. The northeastern most portion of the neighborhood adjoins the City of Groves. The neighborhood is deline- ated on the Neighborhood Map presented in the Addenda. This is an older well-established residential area with ample residential support facilities located along major traffic arteries. The properties located within this area are thought to have the greatest economic impact on the subject property. Highway 69/96/287 (known as Memorial Drive and Woodworth Boulevard within the City of Port Arthur) is a major commercial traffic artery connecting the cities in south and mid- Jefferson County with Beaumont, the County Seat. It intersects with IH-10 in southwest Beaumont. Memorial Drive (Highway 69/96/287) from Highway 73 to Gulfway Drive is a four lane asphalt paved thoroughfare with a center turning lane. Woodworth Boulevard (Highway 69/96/287) from Gulfway Drive south to Lakeshore Drive is a divided four lane asphalt paved thoroughfare concrete curbs and gutters and a center grass median. Twin City Highway (State Highway 347) is a major four lane artery running north/south parallel and east of U.S. 69/96/287, connecting with it just south of Beaumont. Ninth Avenue is a supplemental north/south thoroughfare through the area, extending north across Highway 73 to the Central Mall area and south to Gulfway Drive. Highway 73 is also a primary traf- fic artery connecting Port Arthur to Orange on the east and to Interstate 10 on the west at Winnie. From that point, IH-10 provides direct access to Houston. Highway 73 is four-lane asphalt paved divided highway from the Neches River to IH-10. These arteries provide the neighborhood with excellent access to all areas of the tri-county area and the Houston metroplex. The subject neighborhood is predominantly residential in nature. However, as previously noted, the neighborhood has extensive commercial development along the major traffic arteries including Memorial Highway, Twin City Highway, Gulfway Drive and portions of 9th Avenue and Highway 73. This development consists of apartment complexes, profession- al offices, convenience stores, motels, restaurants, automotive dealerships, service gar- ages, service stations, retail stores, shopping centers and hospitals. Ninth Avenue in- cludes mixed, secondary commercial development, as well as residential uses. Schools and churches are conveniently located within the neighborhood. COOK & ASSOCIATES, INC. 9 Saint Mary's Hospital, located on 9th Avenue just north of Gulfway Drive, closed several years ago and has been razed. Park Place Hospital, located on Memorial Drive at 39th Street, closed in April of 2005 and was subsequently torn down. Only a few medical pro- fessional office buildings remain. Many doctors have relocated to the new hospital and medical center complex located off Highway 69/96/287 on Jimmy Johnson Boulevard near Central Mall. The terrain within the neighborhood is generally level with elevations ranging from approx- imately 5 to 10 feet above mean sea level. For the most part, the neighborhood falls within the Federal Emergency Management Agency designated Flood Zone B, a flood hazard area between the limits of the 100 year and 500 year flood plains. However, it is located within a hurricane flood plain area, protected partially by a hurricane levee which was complete in 1981 by the U.S. Corps of Engineers. The city enacted an ordinance requiring new construction is to be at four feet or above maximum ponding level. This action, along with the construction of numerous drainage canals and other precautions has made the area eligible for flood insurance at government subsidized rates. Since completion of the Flood Protection Project, the area has generally had a reputation for adequate drainage. However, there was widespread flooding associated with Tropical Storm Harvey on or about August 30, 2017. Electricity, gas and telephone services are provided by privately owned corporations and serve the entire neighborhood. The city provides sewer and water utilities throughout the neighborhood. All of these services have a reputation of providing adequate service. Zoning classifications throughout the area are primarily SF (Single Family), 2F (Two Fami- ly) or MF (Multi-Family) with some areas along major thoroughfares being LC (Light Com- mercial). Thus, land uses conform to the zoning classification and property compatibility is considered to be good. During the mid-1980's, the neighborhood experienced an economic decline. This was due, in part, to the depressed oil related economy of the entire area. Significantly compounding the problem was a trend begun in the early 1980's toward the relocation of retail business- es to the New Town In Town area and Central Mall located 6.5 miles northwest of the sub- ject at the intersection of Highway 69 and FM 365. This area quickly became the major retail center in the city of Port Arthur. Thus, the Central Business District has suffered de- cline. However, in recent years there has been renewed interest in commercial develop- ment along Gulfway Drive as is evidenced by a number of new small strip centers, free standing retail buildings and renovation of existing commercial buildings. Also, extensive renovation of two older, vacant office buildings now underway, with subsequent occupancy by Motiva, is expected to have a positive impact. In recent years, the local economy in general has remained relatively stable. Several area refineries have completed major expansions to their facilities with continued petrochemical expansion anticipated. Manufacturing and light industrial uses continue to be viable. In conclusion, the subject neighborhood is expected to retain its present characteristics and development/redevelopment is expected to continue along prevailing lines at a slow pace. COOK & ASSOCIATES, INC. 10 A Neighborhood Map is presented in the Addenda. SITE DESCRIPTION: Location/ Access: The subject is located at the NWC of 9th Avenue and Lewis Drive, a major controlled intersection in Port Arthur. 9th Avenue is a four lane east-west thoroughfare that extends from FM 365 past State Highway 73 to Procter Street. Lewis Drive is a two lane north-south, secondary street. Tract Size: 2.24 acres or 97,574 SF (per JCAD records) Configuration: Irregular in shape. The site has +/-225 feet of frontage on the northeasterly side of 9th Avenue and +/- 350 feet on the northwest side of Lewis Drive. Topography/ Elevation: The subject is level, cleared and approximately above road grade. Elevation is approximately 5 feet above mean sea level. Flood Zone: Per FEMA Map #4854990035C, dated: 4/17/1984, the site lies in Flood Zone B. This is an area between the 100 year and 500 year flood plain. Zoning: CR, Commercial retail District Utilities: All public utilities are available Existing Improvements: Improvements include a 50+ year old 2,780 SF masonry residential structure with concrete paving, carport, enclosed garage, shed, green house, fencing and gazebo. (See Highest and Best Use) Surrounding Uses: Commercial uses are to the east and vacant land then commercial uses are to the north. Commercial uses are to the south across Lewis Drive and a mix of residential and commercial uses are to the west. Easements/ Encumbrances: Standard utility easements were noted. The characteristics of the subject site generally conform to those of surrounding properties and those discussed in the Neighborhood Analysis are considered applicable. The tract is of sufficient size and utility for a variety of Commercial uses or a Multifamily use, such as are typical of the immediate area. COOK & ASSOCIATES, INC. 11 Presented in the Addenda are a Plat Map, Zoning Map, Flood Plain Map, Topography Map and an Aerial Photo. IMPROVEMENT DESCRIPTION: Gross Building Area: 2,780 SF Land/Building Ratio: 28.87:1 Residential Dwelling Construction: Layout— Partitioned living room, dining room, kitchen/breakfast area, four bedrooms, two bathrooms, chapel room Foundation - Chainwall Floors — Vinyl, Ceramic tile Exterior Walls — Brick veneer Interior Walls — Sheetrock, paneling Ceilings - Sheetrock Roof— Composition shingle Eave Height— 8' Heat/AC — Central HVAC system Electrical - Standard Equipment— Oven/range, vent hood (built in) Windows — Aluminum frame, burglar bars Doors - Metal exterior, solid core wood interior doors Baths — Two bathrooms with toilet, tub shower and lavatory. Site Improvements: Front porch, 600 SF detached enclosed garage, 1,575 SF metal carport, 144 SF shed, 140 SF green house, gazebo concrete paving, perimeter chain link fencing The improvements appeared in average condition and showed normal wear and tear. They are 50+ years old, have an effective age of 30 years with a 15 year remaining physical life. The layout and design of the subject facility is considered to be functionally adequate for its intended use, that being for residential use. However, the improvements are considered to be nearing the end of their economic life and are occupying only a small portion of the site. Any future redevelopment is not thought likely to incorporate the existing improvements. Presented in the Addenda is a floor plan of the subject building. The location of the improvements on the site is shown on the Aerial Photo discussed previously. Also included in the Addenda are various interior and exterior photographs of the facility. COOK & ASSOCIATES, INC. 12 HIGHEST AND BEST USE: Highest and Best Use: "As Though Vacant": The land is at a major corner at a con- trolled intersection. It has excellent size, good configuration and utility for a variety of commercial uses as well as a multifamily use. Commercial and Multifamily development is legally permissible and consistent with surrounding development. Financial feasibility is suggested by existing and new commercial and multifamily development. Thus, the High- est and Best Use, "As Vacant" is Commercial or Multifamily use. Highest and Best Use -- "As Improved": The subject land is under-utilized as the im- provements thereon physically occupy only a small area of the subject tract. The im- provements thereon are nearing the end of their economic life and are minimally contribu- tory to value. The land is ready to be re-developed to a Highest and Best use that would encompass the entire tract. Therefore, its Highest and Best Use, "As Improved," is Interim Use—pending redeveloped to a Commercial or Multifamily Use. COOK & ASSOCIATES, INC. 13 SUMMARY OF THE SALES COMPARISON ANALYSIS: This is an appraisal technique in which the Market Value estimate is based on prices paid in actual market transactions. The approach involves gathering data of sales of comparable properties and analyzing the nature and condition of each sale, comparing with the subject property, making logical ad- justments for characteristics dissimilar to the subject property. The direct sales compari- son approach is based upon the principle of substitution and is a good indicator of value when sales of highly similar properties are available. The principle of substitution is de- fined in The Dictionary of Real Estate Appraisal, p. 296 as "The appraisal principle that states that when several similar or commensurate commodities, goods or services are available, the one with the lowest price will attract the greatest demand and widest distri- bution." The reliability of this approach is dependent upon the following factors: • The degree of similarity of the comparable property to the property being appraised as to location, size, and utility. • The time of the sale. • The verification of the market data. • The absence of unusual conditions affecting the sales price. The appraiser has made a diligent search of available sources in an attempt to obtain data on the sales of similar vacant properties. Also contacted were several area real estate brokers. The Sales Comparison Approach is applied in the study of prices paid for compa- rable tract to indicate the price at which the subject tract should sell after adjustments are applied for the factors that tend to affect price, i.e., sale date, tract size, locational quality, etc. The "market" for similar properties has been active in recent years, thereby providing sales data from which a comparative analysis can be made for a value indication. Presented on the following pages is the data on the sales which were deemed most com- parable and provided the most reliable indicators of value as well as a map showing the location of each sale in relation to the subject, followed by a Sales Summary. The square foot unit has been used in the analysis as the market tends to quote vacant land prices in this unit. The Market Adjustment Chart, showing the pertinent data on each sale and the adjustments follows the Sales Summary. After the adjustment chart is a brief explanation of the adjustments and the concluded value estimate for the subject tract. COOK & ASSOCIATES, INC. 14 Land Sale No. 1 Property Identification Record ID 1439 Property Type Vacant Land Address 7200 9th Avenue, Port Arthur, Jefferson County, Texas 77642 Location East side, adjacent to golf course, just north of Lake Arthur Dr., south of 75th Tax ID PIDN: 256353 Legal Desc. Lots 4 & 5, Block 11, Range 11, Port Arthur Land Company Sale Data Grantor Sabra Texas Holdings, L.P. Grantee Khalil Packard, Inc. Sale Date January 08, 2020 Deed Book/Page 2020001106 Property Rights Fee Verification Broker: J.M. Prewitt Sale Price $1,100,000 Cash Equivalent $1,100,000 Land Data Zoning PD, Planned Development Topography Level Utilities All available Shape Rectangular Flood Info Zone AH, within 100-year floodplain Land Size Information Gross Land Size 9.095 Acres or 396,178 SF Front Footage 675 ft 9th Avenue Indicators Sale Price/Gross Acre $120,946 Sale Price/Gross SF $2.78 Remarks Substantial improvements were razed. COOK & ASSOCIATES, INC. 15 Land Sale No. 2 Property Identification Record ID 1171 Property Type Vacant Land Address Main Avenue, Groves, Jefferson County, Texas 77619 Location SEC Main Avenue and Washington Boulevard Tax ID PID #416847 Legal Desc. Pat of Lot 1 , Uno Family Partnership, Ltd, No. 1, Jef- ferson County Texas Sale Data Grantor Uno Family Partnership, Ltd Grantee Texas 5 Star Group, LLC Sale Date December 17, 2020 Deed Book/Page FC #2020038722 Property Rights Fee Financing Cash to Seller Verification Grantee; Other sources: Jefferson CAD records Sale Price $127,000 Cash Equivalent $127,000 Land Data Zoning C-2, General Light Commercial Topography Level, Cleared Utilities All public utilities available Shape L-shaped Flood Info Zone - C Land Size Information Gross Land Size 0.740 Acres or 32,243 SF Front Footage 125 ft Main Avenue; 189 ft Washington Street Indicators Sale Price/Gross Acre $171,575 Sale Price/Gross SF $3.94 Remarks Corner tract purchased by adjoining land owner for shopping center develop- ment. COOK & ASSOCIATES, INC. 16 Land Sale No. 3 Property Identification Record ID 1348 Property Type Vacant Land Address 510 Stadium Road, Port Arthur, Jefferson County, Texas 77642 Location Stadium @ 5th St. (NEC) Tax ID PIDN: 54605 Legal Desc. Lots 23 - 29 Block 7, Lakeview MSA Beaumont-Port Arthur-Orange Sale Data Grantor Jonathan M Barnett Grantee David Alvarez Sale Date November 08, 2021 Deed Book/Page 2021039495 Property Rights Fee Financing Cash Verification J. Sanders/SETX Properties; MLS #202823 Sale Price $33,000 Cash Equivalent $33,000 Land Data Zoning LC Light Commercial, Light Commercial Topography Level, Cleared Utilities All Available Shape Rectangular Flood Info Zone B Land Size Information Gross Land Size 0.434 Acres or 18,900 SF Front Footage 189 ft Stadium Rd; 100 ft 5th Indicators Sale Price/Gross Acre $76,057 Sale Price/Gross SF $1.75 Remarks List Price: $34,900 DOM: 907 COOK & ASSOCIATES, INC. 17 Land Sale No. 4 Property Identification Record ID 1347 Property Type Vacant Land Address 2900 Nall Street, Port Neches, Jefferson County, Texas 77651 Location North side, east of Van Ave, East of SH 347, access road below elevated main lanes Tax ID PIDN: 108969 Legal Desc. Lot 1, Block 1, Tract 12 Van Oostrom MSA Beaumont-Port Arthur-Orange Sale Data Grantor Prosperity Building Group LLC Grantee Griffin Property Holdings LLC Sale Date April 14, 2022 Deed Book/Page 2022013317 Property Rights Fee Simple Financing Cash Verification Broker: Kay DeCuir; MLS # 224446 Sale Price $200,000 Cash Equivalent $200,000 Land Data Zoning B-M, Business Medium, B-M (Business-Medium) Topography Level, Cleared Utilities All available Shape Rectangular Flood Info Zone C Land Size Information Gross Land Size 0.981 Acres or 42,745 SF Front Footage 241 ft Nall St. Indicators Sale Price/Gross Acre $203,813 Sale Price/Gross SF $4.68 Remarks List Price: $224,000 DOM: 155 COOK & ASSOCIATES, INC. 18 Land Sale No. 5 Property Identification Record ID 1388 Property Type Vacant Land Address 2000 9th Avenue, Port Arthur, Jefferson County, Texas Location East side, 2 blocks north of Gulfway Drive Tax ID PDIN: 73349 Legal Desc. Part of Lot 4 Block 4 H PALCO 5.034 AC Sale Data Grantor Christus Health Southeast Texas Grantee SM Investment Firm, LLC Sale Date August 10, 2022 Deed Book/Page 2022029549 Property Rights Fee Verification Broker/JM Prewitt Sale Price $235,000 Cash Equivalent $235,000 Land Data Zoning PD, Planned Development Topography Level and cleared Shape Rectangular Flood Info Zone B, within 500 year floodplain Land Size Information Gross Land Size 4.990 Acres or 217,364 SF Front Footage 725 ft 9th Avenue Indicators Sale Price/Gross Acre $47,094 Sale Price/Gross SF $1.08 COOK & ASSOCIATES, INC. Land Sale No. 6 19 Property Identification Record ID 1401 Property Type Commercial Vacant Land Address Highway 365, Port Arthur, Jefferson County, Texas Location North side, west of Medical Center Blvd Tax ID PIDN: 420723 Legal Desc. Tract III, Bayou Grove Park, Jefferson County, Texas Sale Data Grantor CRV-PA 1 , LLC Grantee Campbell Oil Company Sale Date November 03, 2022 Deed Book/Page 2022037341 Property Rights Fee Verification Broker- JM Prewitt Sale Price $1,013,554 Cash Equivalent $1,013,554 Land Data Zoning PD, Planned Development Topography Mostly cleared Utilities All available Shape Rectangular Flood Info Zone AH, within 100-year floodplain Land Size Information Gross Land Size 5.440 Acres or 236,966 SF Front Footage 1,117 ft Hwy 365 Indicators Sale Price/Gross Acre $186,315 Sale Price/Gross SF $4.28 COOK & ASSOCIATES, INC. 20 Land Sale No. 7 Property Identification Record ID 1399 Property Type Commercial Vacant Land Address 4501 Highway 73, Port Arthur, Jefferson County, Texas Location South side, just west of SH 347 Tax ID PIDN: 73222 Legal Desc. Lots 3 &4, Block 7, Range G, PALCO MSA Beaumont-Port Arthur-Orange Sale Data Grantor SAI Port Arthur, LLC Grantee Texas PWSK Enterprises, LLC Sale Date November 23, 2022 Deed Book/Page 2022039110 Property Rights Fee Verification Broker, Ben Rodriguez Sale Price $350,000 Cash Equivalent $350,000 Land Data Zoning PD, Planned Development Topography Level, Cleared Utilities All Available Shape Rectangular Flood Info Zone B Land Size Information Gross Land Size 5.580 Acres or 243,065 SF Front Footage 835 ft Indicators Sale Price/Gross Acre $62,724 Sale Price/Gross SF $1.44 Remarks Tract has an average depth of +/- 280 ' with frontage of +/-280 on the east bound Hwy 73 service road. Partnership dissolution resulted in a below market sale per broker. COOK & ASSOCIATES, INC. 21 Land Sale No. 8 Property Identification Record ID 1570 Property Type Vacant Land Address Nall Street, Port Neches, Jefferson Co., TX 77651 Location South side on Twin City turnaround Tax ID PIDN: 74934 Latitude, Longitude N29.967773, W-93.972624 Legal Desc. Tract 1-A, Lot 6, Range F, Block 13, PALCO .6985 Ac Sale Data Grantor Robert Nghia Chang DDS PLLC Grantee Sandoval Elite Custom Builders LLC Sale Date February 28, 2024 Deed Book/Page 2024005227 Property Rights Fee Financing Cash to seller Verification Coldwell Banker Southern Homes- Barbara Kearns; M LS # 237502 Sale Price $150,000 Cash Equivalent $150,000 Land Data Zoning B-M (Business-Medium) Topography Level and cleared Utilities All available Shape Rectangular Flood Info Zone C Land Size Information Gross Land Size 0.699 Acres or 30,448 SF Front Footage 102 ft Nall Street; Indicators Sale Price/Gross Acre $214,592 Sale Price/Gross SF $4.93 Remarks Land sale on the south side of Nall Street loop/access road below elevated main lanes, just east of Twin City Highway. COOK & ASSOCIATES, INC. itr 22 D'cLORP�1E DeLorme Street Atlas USA®2013 I N,rha ' a„ 'fig / 69 c.f 1/ P '.4 d ,- .', Central Careens t f Land 4 N, a✓" +�3_ i Bomar 1'.1 trt ,' 0. 3.6' 366i 47 l '$n'er t a {� 9 ▪r-' ® A:��r •- 5,,,. , vr.- v f I 'C,.y a4,� 1 x�x Nxx `f _ f s ham; +7(T q /t'� _n Srl?u_ It a 1.tCs;Sri ✓ _ A,-'.-. 1 F-M 366 N! \,,,,,i1/4„,, .r - t . `Groves TKv - � ,` , '4 -'' ice �. r SALE 7 / . �� SALE 1� ..Port Arthur ,xh� .�`7 4. fSALE 5 :— SALE 3 '.> ri,ng Pa / ''''.' s pF b --jsL� Y �` ,P SUBJECT PROPERTY a ` 8mort re + 'm►f �' 5. k- `- 87 ��A-� • LAND SALES MAP rt < -RO Y I, / west Port wteur ,,A l. • f tc b ` 1 /m r Data use subject to license * MMil IE©DeLorme.DeLorme Street Atlas USA®2013 mi 0 Y2 1 1 Y2 2 21/2 www.delomte.com MN(0 6'E) Data Zoom 11-1 COOK & ASSOCIATES, INC. 23 SUMMARY OF SALES COMPARISON ANALYSIS: Summary of Subject Subject Location Size/SF 9th Avenue @ Lewis Drive 97,574 SF Land Sales Summary Sale Date Location Size/SF Unit Price/SF 1 1/2020 7200 9th Avenue 396,178 $2.78 2 12/2020 Main Avenue @ Washington 32,234 $3.94 # 3 11/2021 510 Stadium @ 5th 18,905 $1.75 y 4 4/2022 2900 Nall 42,732 $4.68 5 8/2022 2000 9th Avenue 217,364 $1.08 6 11/2022 FM 365, west of Medical Center 236,966 $4.28 7 11/2022 4501 Hwy 73 243,065 $1.44 8 2/2024 Nall Street (Twin City Loop) 30,448 $4.93 Market Adjustment Grid - Land Sales Sale SP/SF Fin. Time Size Loca- Phys. Site Net Adj. Unit tion Char. Im- Adj. Value/SF prov. 1 $2.78 0 0 +20% -50% +15% +15% 0 $2.78 2 $3.94 0 0 -15% -50% 0 +15% -50% $1.97 4 3 $1.75 0 0 -20% 0 0 +15% -5% $1 .66 4 $4.68 0 0 -15% -50% +15% +15% -35% $3.04 5 $1.08 0 0 +10% 0 +15% +15% +40% $1 .51 6 $4.28 0 0 +10% -50% 0 +15% -25% $3.21 7 $1 .44 0 0 +10% -20% +15% +15% +20% $1.73 8 $4.93 0 0 -20% -50% +15% +15% -40% $2.96 COOK & ASSOCIATES, INC. 24 Limited Explanation of Adjustments: Financing: All sales were for cash to seller or financing equivalent to cash, therefore, no financing adjustments were necessary. Time: All sales are fairly current transactions; therefore, no market condition ad- justments were necessary. Size: Typically smaller tracts generate relatively higher unit sales prices. Each Sale varied in size as compared to the subject and adjustments ranged from +20% to -20%. Adjustments were based on 10% for each doubling in size. Location: Sales #1, #2, #4, #6, #7 and #8 are thought somewhat superior to the sub- ject with regard to access/exposure and/or proximity to development and are negatively adjusted 20% to 50%. Utility: Sales #1, #4, #5, #7 and #8 lack a corner influence as the subject and a pos- itive 15% adjustment was applied. Site Improve- ments: The subject has improvements that offer an interim use and nominal contri- bution to value. Therefore, each sale was adjusted upward for this difference All sales are located in the subject's general market area and are considered to provide reliable indicators of value for the subject site. After adjustments the sales indicated a val- ue range from $1.51/SF to $3.21/SF. The mean value indicated for the subject tract is $2.36/SF. The median value is $2.38/SF. Sales #8, the most recent sale, indicates a unit value of$2.96/SF. Based on this analysis, a unit value of$2.60/SF is considered reasonable and when ap- plied to the subject site indicates the following: 97,574 SF @ $2.60/SF = $253,692 Rounded to: $254,000 COOK & ASSOCIATES, INC. 25 RECONCILIATION OF FINAL VALUE ESTIMATE: The sales selected for analysis are in the subject marketing area and have a reliable degree of comparability to the subject property. The adjustments for variances between the comparable properties and the sub- ject property are thought consistent with the opinions and attitudes of prudent purchasers. As previously discussed, improvement value is limited, which precludes the use of the Cost Approach and there was no income stream to be evaluated which precludes the use of the Income Approach. In view of these facts, primary consideration is given to the Sales Comparison Approach in developing an opinion of the Market Value of the subject proper- ty. CONCLUDED PROPERTY VALUE: Considering all of the data presented in the forego- ing analyses, it is the appraiser's opinion that, as of the date of April 11, 2025, the Market Value of the subject property is: TWO HUNDRED FIFTY-FOUR THOUSAND ($254,000) DOLLARS COOK & ASSOCIATES, INC. ADDENDA COOK & ASSOCIATES, INC. 26 SUBJECT PROPERTY PHOTOGRAPHS r � ,, ,,t ,-- ab w �._, .. ,,;;gip, ,*,t , > r ,:rr' e7 ;, < a 3K - ,, A fi , - • ',.-- irs''',::.:1,'',41V17.:••r'I:' ,I,„„,:v -' # ,,--. k.,. , te -4ar,..-, -, -,-.--:.‘,..-. ' i ..,- , '6, . ' . ., , .. . ?,,:, yy . k t /IR .. Ili t _._._"''- —. ice' f � ~- .h z VIEW ALONG LEWIS DRIVE Li •I I. • "',' -,-,� .r" is x - r ' - ...,. •••- i ...f...„ ________ r ✓ i n a g te. xiw- e .:e•+.. ,_ VIEW ALONG 9 AVENUE COOK & ASSOCIATES, INC. 27 xa _s 1 FRONT ELEVATION 1 ! 1< f1 r T. aft bp 3 k . ..s �*. REAR ELEVATION COOK & ASSOCIATES, INC. 28 , x' ,f s 1 tirk rah : v I ter* s • .:' >-'. - VIEW OF ENCLOSED GARAGE AND CARPORT • r t 3 # a i -tF'� r`,ti ;fir . t'yy ; ' s4` ' /0 /<Wi -'.- ;i-�< Nit. / `+ '§...,. sew"f a a. _ . — N .z , a. `.X •h VIEW OF SHED AND GREEN HOUSE COOK & ASSOCIATES, INC. 29 k _ F i4 i. 4 n {-PF G9' k Fi �• J } ; 4s; T , / ti .•n ti • },��-ra. h>r . 1 e y_P•r- . . ro t,i Si hill VIEW OF GAZEBO r 4 vim' ;�• " •` . yyy,yy j t die II1a ''"4111.,iiltild All 11 s! + "s tt,,. s§{ °F s VIEW OF SUBJECT SITE AT REAR COOK & ASSOCIATES, INC. 30 y- i,,, ,,.., I -:-.; ::::-:---1-2: Ia ' - ' : "3 4t's " is INTERIOR VIEW ,,,' e's.r7 .°r,' a , - ,_---- N„....,„_. -0,- . 0,- . „ \ {.. II INTERIOR VIEW COOK & ASSOCIATES, INC. 31 • INTERIOR VIEW --- ..h ......j.....,_ INTERIOR VIEW COOK & ASSOCIATES, INC. 3 2 - . INTERIOR VIEW 1111 I _ 11/ It°441.00 44'11 1•4' ..0"7 INTERIOR VIEW COOK & ASSOCIATES, INC. 33 ,DELORME DeLorme Street Atlas USA®2013 \\it,'Lumberton , t • 1 Cro:: Lake Lakeview CO m inn .toy Maune -_- in Loeb i _ /� ,' - )— • Voth ' 9 i 1 :; Little Cypress F.',,hoa Lake 90 ® ! Iprr t JiF. R' � C tit,' f 1• �_- --- Pinehurst Orange' ■( k9 ��S'! / `lt♦ T 141 � C � Oran¢ereld 5-nBvYe y *� y . L' L�— • r qe:curly R..'a` o Win. 0� -- \ Port Neches / - -� --- '� }` Nederland ij i. PcrP 'ct, r AB andr; f 2 s T SUBJECT PROPERTY i JJ , Lake -. r Lakeview T1\ . , ��+++ ae T,VlOr tLake i S (J ? fr * �/ ,r r , , t ¢s'~ Shell Lake h; ® --' as Leith Lake i jr Sabine Pass •e Sah1 Se' SP AREA MAP . '$ L t Clan Lake DP i,w t int Pcr; t Star Lake t -^'`"��j Gulf Mexico t / t t /' t t t Data use subject to license ir NM M MO Delorme.Delorme Street Atlas USA®2013I El 1111 M - m 0 1 2 3 4 5 6 7 8 9 wwwdelorme.com MN(06'E) Data Zoom 9-3 I COOK & ASSOCIATES, INC. 1 34 " DELORME DeLorme Street Atlas USA®2013 l IhmaW-A, k -, , 0 Will 111 Ir, / ., 4, / , • �-. , o° t elnorial2a'n l sN tv. .,.--, _ ..--4---- _ R N, r ° A 4. "tA0 '' yam' 'll. y.,��, �01�w.: N .aV PSL \ ,. .c.„,,, '''''4, r'0017111b,,, .‘t 411,41441\k /Z' * 4* , ...,114::. ''' '*. Pea R Y/. �` 3� Sit ` rj iiff n Panc t , % ! SUBJECT PROPERTY 1 ,♦ o it n'�/�' I�4 ..,,,,,,,_* ,, - /5rthm N., ," -•-- R,ya mill Pa=1. 6 'r.�\ Y a t ' r NEIGHBORHOOD MAP G ' tf Pa• o r UJ v 0 , � ,�'. ' ,� g..°ua•k �� a � ,.ax.eas " 7 \ {! $ \ / lc '=e. { F Data use subject to license 1 �:_�_ mf ®DeLorme DeLorme Street Atlas USA®2013 0 Y. '/z a/� 1 11/4 www delorme corn MN(0 6'E l Data Zoom 12-0 COOK & ASSOCIATES, INC. 35 n swa 4 rfr t n , q4. // . 4 •7F, _ -i6 9t Ave .an S,s e ,. '' •� t 1045 � ^, c :f _.-_._, L _'.Col* s / y \ :e ,, -' 'ter ODomasck Pa'J „ AERIAL MAP COOK & ASSOCIATES, INC. 36 MDR MDR PD HDR LDR rye: s .1 O SUBJECT • S S CR ZONING MAP PAZoning2023 Official CR-Commercial Retail District MDR,Medium Density Res dental District HDR,High Density Residential District LDR,Low Density Residential District NS,Neighborhood Services District HI,Heavy Industrial District CG,Commercial General District LI,Light Industrial District MH,Manufactured Home District A,Agricultural District Other COOK & ASSOCIATES, INC. 37 ^ : \ .. \ 72305. 7-3302 + 7304 : > 733m 2 ~ > : 2 . . . " ® » � % « \ . . : % ya y < « ` w 3. > » eh < , \ . /\ 4 ,� &" ,� . * 4 . © \ $ \ \1 «. ^ . A J E F F E RS O N CAD PLAT COOK & ASSOCIATES, INC. 38 9 , , /...,\N.,, , 0,..., *4 p,oneer,s, -:::::1/44,/x-p«. 111..,,,:.,,,,- 4110::/ /: X,,,, \ ‘1,,,,,,:i: 41° , ,..,.,,\ % 410,„ s.., iiiiip , .s. / I.‘ ; .v _:4,Tpor .-'>\ i>•v5.14'' ''''''-e' \''' -,. '/'s tt II 14 1 P,K N . ,, ,, `rx 'NI,/ / / .4 i AMY P:..1 ) ' / ,4.+! -'Ilir rt: t•N: 3,. ,0,1 0 el ,,, 1 '. .• ,,,, s}' �',• S N. a y ` " 4 .. j ! ' r � y .4 fV r 8r > '' ' NA/4"/N* 1 { ! ti ,// N:// 1(‘ .--f. '' //:::'.1‹.1-:‘'1 I**41** (* 4, / \fiC / * / .1714‘ / // f � ,r t •*Apo L7 ' ' l f, . fr . ‘-"Z".1krio / %i'?if i / )k 4.,/ .''‘,„.v..., /,,,,, Alik")(*.,,,,t„,di el ,f,, , N\S ' / ti "s 1 * ,41* TOPOGRAPHY MAP COOK & ASSOCIATES, INC. 39 Prepared for Cook&Associates InterFlood a..a 1148�,A>� PatAtttKr,TX 776 22.3161 pia tt• k�� . i � 4a : is t ir ;i}� ,� i ** #.: .,4 *.:- add! /e ••`� f`' w 'py X � 1 ADO .. fir, ' .+�►' 'f Gs j< 45'.-:. ' " r. �;,� 4�k � SUBJECT , ,�� r '-:::": ''' '-'.;.'.:,.,, ' ,.1 at0� i: Si r . 5 1 .4 '. . 1 ` tip, ll Fwftlirr!-, '-h ` _. f ems .: 4 `‘N.4444;irN4b ' 4' ''''` "-- ' * - - '**- "` '4* ' "t*'-t/ Nk,,,V,1,,A'et) ' '• ' �. Asa t ,�° q y�� � ,r % �_ ir it �`: ti�r q �r .> `k. air 1*1 P.-..�..o ay cv.terre MAP DATA MAP LEGEND FEMA 3oectat Flood Hazard Area No Areas,nundated by 500-year hooding Protected Areas Map Number 4.54990035E Zone B El dean inundated try 100 year hooding 0 Fbodway Mao Dale ADM 17.1984 n V I. .tV►ward 11 Sr a Aroma FLOOD ZONE COOK & ASSOCIATES, INC. Jefferson CAD Property Search 11 Property Details Account Property ID: 73299 Geographic ID: 049400-000-031800-00000 Type: R Zoning: LC Property Use: Condo: Location Situs Address: 1148 9TH AVE PORT ARTHUR, TX 77642 Map ID: 0 Mapsco: Legal Description: LT 4 TR 1 BLK 3 RG H PALCO Abstract/Subdivision: 049400-000 Neighborhood: (037000003) LEWIS Class 3 Owner Owner ID: 693215 Name: DOMINICAN SISTERS OF MARY Agent: Mailing Address: IMMACULATE PROVINCE 5250 GASMER DR HOUSTON,TX 77035-5716 % Ownership: 100.0% Exemptions: EX-XV - For privacy reasons not all exemptions are shown online. A Property Values Improvement Homesite Value: $0 (+) Improvement Non-Homesite Value: $187,889 (+) Land Homesite Value: $0 (+) Land Non-Homesite Value: $20,988 (+) Agricultural Market Valuation: $0 (+) Market Value: $208,877 (_) Agricultural Value Loss:0 $0 (-) Appraised Value:0 $208,877 (=) HS Cap Loss: 0 $0 (-) Circuit Breaker: A $27,681 (-) Assessed Value: $181,196 Ag Use Value: $0 Information provided for research purposes only. Legal descriptions and acreage amounts are for Appraisal District use only and should be verified prior to using for legal purpose and or documents. Please contact the Appraisal District to verify all information for accuracy. II Property Taxing Jurisdiction Owner: DOMINICAN SISTERS OF MARY %Ownership: 100.0% Entity Description Tax Rate Market Taxable Estimated Freeze Value Value Tax Ceiling A59 FARM AND LATERAL ROAD 0.000000 $208,877 SO $0.00 109 PORT ARTHUR ISD 1.317639 $208,877 $0 $0.00 235 CITY OF PORT ARTHUR 0.626272 $208,877 $0 $0.00 343 PORT OF PORT ARTHUR 0.177869 $208,877 $0 $0.00 755 SABINE NECHES NAV DIST 0.088000 $208,877 $0 $0.00 851 DRAINAGE DISTRICT#7 0.297632 $208,877 $0 $0.00 901 JEFFERSON COUNTY 0.357000 $208,877 $0 $0.00 CAD JEFFERSON CO APPRAISAL 0.000000 $208,877 $0 $0.00 DISTRICT Total Tax Rate: 2.864412 Estimated Taxes With Exemptions: $0.00 Estimated Taxes Without Exemptions: $5,983.09 1111114. * Property Improvement- Building Type: Residential Value: $159,617 Type Description Class CD Year Built Assessed Value HSE HOUSE 3B1 1962 $108,980 SR1 STORAGE 1 3B1 1962 $100 CVP COVERED PORCH/PATIO 3B1 1962 $1,962 CAR CARPORT 3B1 1962 $2,970 Type: Residential Value: $28,272 Type Description Class CD Year Built Assessed Value HSE HOUSE 2B1 1962 $18,952 SR4 STORAGE 4 2B1 1962 $1,242 11 Property Land Type Description Acreage Sqft Eff Front Eff Depth Market Value Prod.Value COM50 COM50 2.24 97,620.00 325.40 300.00 $20,988 $0 !1 Property Roll Value History Year Improvements Land Market Ag Valuation Appraised HS Cap Loss Assessed 2024 $187,889 $20,988 $0 $208,877 $0 $181,196 2023 $134,206 $16,791 $0 $150,997 $0 $150,997 2022 $93,944 $16,791 $0 $110,735 $0 $110,735 2021 $80,523 $16,791 $0 $97,314 $0 $97,314 2020 $79,470 $16,791 $0 $96,261 $0 $96,261 2019 $74,170 $16,790 $0 $90,960 $0 $90,960 2018 $74,170 $16,790 $0 $90,960 $0 $90,960 2017 $74,170 $16,790 $0 $90,960 $0 $90,960 2016 $74,170 $16,790 $0 $90,960 $0 $90,960 A Property Deed History Deed Date Type Description Grantor Grantee Volume Page Number 8/22/1996 WD WARRANTY DEED VIETNAMESE DOMINICAN SISTERS 9626291 . a r--- - ( a• 1 1— VI "kk- CZ I t. 4 I U `C t v - u LI I Q ' itiV I �h, r 1 Z. kr) r _ k • I "a I M Y -, _� r ei� as-- -it 1,4 rd .N e, n v, o—I It IA II n i, 4 1 -1. M I 't ' 4 b .b 4 4C .CS a x x y 4k kJ is k i v J N .a 1L 'J GENERAL UNDERLYING ASSUMPTIONS AND LIMITING CONDITIONS This appraisal report and the letter of transmittal are made expressly subject to the following assumptions and limiting conditions: General Underlying Assumptions Legal Matters: The legal description used in this report is assumed to be correct, but it may not necessarily have been confirmed by survey. No responsibility is assumed in connection with a survey or for encroachments or overlapping or other discrepancies that might be revealed thereby. Any sketches included in the report are only for the purpose of aiding the reader in visualiz- ing the property and are not necessarily a result of a survey. No responsibility is assumed for an opinion of legal nature, such as to ownership of the property or condition of title. Unless otherwise stated, the subject property appraised is the surface estate only, with no consideration of mineral interests. The appraiser assumes the title to the property to be marketable and unrestricted; that, un- less stated to the contrary, the property is appraised as an unencumbered fee which is not used in violation of acceptable ordinances, statutes or other governmental regulations. Unapparent Conditions: The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil or structures which would render it more or less valuable than otherwise comparable property. The appraiser is not an expert in determining the presence or absence of hazard- ous substance, defined as all hazardous or toxic materials, waste, pollutants or contami- nants (including, but not limited to, asbestos, PCB, UFFI, or other raw materials or chemi- cals) used in construction or otherwise present on the property. The appraiser assumes no responsibility for the studies or analysis which would be required to conclude the presence or absence of such substances or for loss as a result of the pres- ence of such substances. The client is urged to retain an expert in this field, if desired. The value estimate is based on the assumption that the subject property is not so affected. The site being appraised appears firm unless otherwise noted, however, soils common to the area have a high shrink-swell potential and may exert unusual pressure on foundations. The appraiser does not warrant against this condition or the occurrence of problems arising therefrom. Information and Data: Information, estimates and opinions furnished to the appraiser and contained in the report, were obtained from sources considered reliable and believed to be true and correct. How- ever, no responsibility for accuracy of such items furnished the appraiser can be assumed by the appraiser. All mortgages, liens, encumbrances and servitudes have been disregarded unless so speci- fied within the appraisal report. The subject property is appraised as though under respon- sible owner- ship and competent management. Zoning and Licenses: It is assumed that all applicable zoning and use regulations and restrictions have been com- plied with, unless a nonconforming use has been stated, defined and considered in the val- uation. It is assumed that the subject property complies with all applicable federal, state and local environmental regulations and laws unless noncompliance is stated, defined and considered in the valuation. It is assumed that the information relating to the location of or existence of public utilities that has been obtained through a verbal inquiry from the appropriate utility authority,or has been ascertained from visual evidence is correct. No warranty has been made regarding the ex- act location or capacities of public utility systems. It is assumed that all licenses, consents or other legislative or administrative authority from local, state or national governmental or private entity or organization have been, or can be, obtained or renewed for any use on which the value estimate contained in the valuation re- port is based. The appraiser will not be required to give testimony or appear in court due to preparing the appraisal with reference to the subject property in question, unless prior arrangements have been made. Possession of the report does not carry with it the right of publication. Out-of-context quot- ing from or partial reprinting of this appraisal report is not authorized. Further, neither all nor any part of this appraisal report shall be disseminated to the general public by the use of media for public communication, nor used for any purpose by any but the intended user, without the prior written consent of the appraiser signing this appraisal report. This appraisal is to be used only in its entirety and no part is to be used without the whole report. All conclusions and opinions concerning the analysis are set forth in the report were prepared by the appraiser(s)whose signature(s)appear on the appraisal report, No change of any item in the report shall be made by anyone other than the appraiser and/or owner of the firm. The appraiser and firm shall have no responsibility if any such unauthorized change is made. Disclosure of the contents of this report is governed by the By-Laws and Regulations of the Appraisal Institute. Neither all nor any part of the contents of this report(especially any con- clusions as to value,the identity of the appraisers or the firm with which they are connected, or any reference to the Appraisal Institute or to the appraisal designations)shall be dissemi- nated to the public through advertising media, public relations media, news media, sales media or any other public means of communication without the prior written consent and ap- proval of the author. The distribution of the total valuation in this report, between land and improvements, is ap- plicable only as a part of the whole property. The land value, or the separate value of the improvements, must not be used in conjunction with any other appraisal or estimate and is invalid if so used. An appraisal related to an estate in land that is less than the whole fee simple estate applies only to the fractional interest involved. The value of this fractional interest plus the value of all other fractional interests may or may not equal the value of the entire fee simple estate considered as a whole. The appraisal is subject to any proposed improvements or additions being completed as set forth in the plans, specifications, and representations referred to in the report, and all work being performed in a good and workmanlike manner. The appraisal is further subject to the proposed improvements or additions being constructed in accordance with the regulations of the local, county and state authorities. The plans, specifications and representations m- il ferred to are an integral part of the appraisal report when new construction or new additions, renovations, refurbishing or remodeling applies. If this appraisal is used for mortgage loan purposes, the appraiser invites attention to the fact that (1) the equity cash requirements of the sponsor have not been analyzed, (2) the loan ratio has not been suggested, and (3)the amortization method and term have not been suggested. The function of this report is not for use in conjunction with a syndication of real property. This report cannot be used for said purposes and, therefore, any use of this report relating to syndication activities is strictly prohibited and unauthorized. If such an unauthorized use of this report takes place, it is understood and agreed that the appraiser has no liability to the client and/or third parties. The appraiser reserves the right to alter the opinion of value on the basis of any information withheld or not discovered in the normal course of a diligent investigation. There is no accountability, obligation or liability to any third party. The appraiser assumes no responsibility for any costs incurred to discover or correct any deficiencies present in the property. The Americans with Disabilities Act ("ADA") became effective January 26, 1992. The ap- praiser has not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, together with a detailed analysis of the re- quirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the Act. If so, this fact could have a negative effect upon the value of the property. Since the ap- praiser has no direct evidence relating to this issue, the appraiser did not consider possible noncompliance with the requirements of ADA in estimating the value of the property. Acceptance of and/or use of this appraisal report constitutes acceptance of the foregoing General Underlying Assumptions and General Limiting Conditions. The appraiser's duties, pursuant to the employment to make the appraisal, are complete upon delivery and ac- ceptance of the appraisal report. However, any corrections or errors should be called to the attention of the appraisers within 60 days of the delivery of the report. QUALIFICATIONS OF W. BURNELL COOK, MAI, SRA President, Cook & Associates Professional Affiliations and Activities MAI and SRA Member of Appraisal Institute, Houston Chapter Southeast Texas Chapter of CPA's Texas Society of CPA's National Association of Realtors Texas Association of Realtors Beaumont Board of Realtors Educational Background Graduated from Forest Park High School, Beaumont, in 1972 Graduated from Lamar State University, Beaumont, in 1976 (BBA in Accounting) Recent Continuing Education Comparative Analysis 3/2017 Sales Comparison Approach Workshop 3/2017 Appraisal of Owner Occupied Commercial Prop. 1/2019 Appraisal of Self-Storage Facilities 1/2019 Land and Site Valuation 1/2019 National USPAP Update 9/2020 Appraisal of Industrial and Flex Buildings 11/2020 Introduction to Commercial Appraisal Review 1/2021 The Basics of Expert Witness for Commercial App. 1/2021 Business Practices and Ethics 11/2021 Realtor Code of Ethics Training 12/2021 Supervisor— Trainee Course for Texas 4/2022 National USPAP Update 2/2023 Commercial Land Valuation 3/2023 Appraisal of Fast Food Facilities 3/2023 National USPAP Update 1/2025 Appraisal of Self-Storage Facilities 2/2025 Into to Appr Owner Occupied Corn. Properties 2/2025 fl Land and Site Valuation 3/2025 Experience Work experience includes various accounting and financial management positions from 1976-1984 with emphasis on real estate investments, and business acquisitions and divestitures as chief financial officer. In February 1984, I joined Cook & Associates and have been active in consulta- tion, expert witness testimony and appraisal of various real estate interests in the East Texas and Southwest Louisiana areas. Such interests include single family residential, agricultural and timberland, industrial properties, offices, retail centers, apartments, mo- tels, restaurants, R.O.W. acquisitions and various other commercial and special purpose properties. Licenses/Certification Licensed Certified Public Accountant (#22347) Texas State Certified General Appraiser- TX 1320838-G WILLIAM BURNELL COOK 2640 MCFADDEN BEAUMONT,TX 77702 Certified General TALCB Real Estate Appraiser TEXAS APPRAISER LICENSING• CERTIFICATION BOARD Appraiser: William Burnell Cook License #: TX 1320838 G License Expires: 05/31/2027 Having provided satisfactory evidence of the qualifications required by the Texas Appraiser Licensing and Certification Act, Occupations Code, Chapter 1103, authorization is granted to use this title: Certified General Real Estate Appraiser C�� a Chelsea Buchholtz For additional information or to file a complaint please contact TALCB Executive Director at www.talcb.texas.gov. QUALIFICATIONS OF Steve Peyton State Certified — TX-1325521 R Professional Affiliations and Activities National Association of Realtors Texas Association of Realtors Beaumont Board of Realtors Former Chairman of Board of Realtors Financing Committee Educational Background Educated in the public schools in Beaumont, Texas Attended Lamar University from 1969 to 1973 as a Business Administration Ma- jor Continuing Educational Courses: Southern Methodist University and Lamar Univer- sity Courses completed were: Real Estate Appraising, Investment, Property Man- agement and Finance. Seminars include various U.S. League and Texas Savings and Loan League Seminars, Secondary Marketing, Asset/Liability Management and Mort- gage Credit and Property Underwriting programs. Additional Continuing Education: FNMA, FHA, Appraisal Institute Seminars & Workshops and USPAP, FHA Update, REO and Foreclosures Seminar, Foreclosure Basics and Appraising and Analyzing Re- tail Shopping Centers, New FHA Handbook and Understanding Residential Construc- tion, Desktop Valuations, Cost Approach to Value, Performing USPAP Compliant Ap- praisal Reviews, Constructing a Professional Report from A-Z, Red Flags Property In- spection Guide, ANSI Home Measurement & Power of Price per Square Foot, 2020- 2021 National USPSP Update, Appraisal of Fast Food Facilities-7/2021, Residential Construction and the Appraiser-8/2021, Land and Site Valuation-8/2021, Realtor Code of Ethics Training-12/2021, 2022-2023 National USPAP, Appraisals of Industrial/Flex Buildings-6/2023, Appraisal of Self-Storage Facilities-7/2023, Land and Site Valuation-8/2023 Employment Experience January, 2018 — Current: Cook & Associates, Inc. as a Contract Fee Appraiser 3/1991 — 12/2017: Bishop Real Estate Appraiser, Inc., Beaumont Texas Contract Fee Appraiser, State Certified Residential Real Estate Appraiser, Texas Real Estate Broker No. 0192620. 1981 — 3/1991: The Savings Bank, Beaumont, Texas, Vice President Coordinated the activities of mortgage and consumer loan departments and sec- ondary market activities with FNMA, FHLMC and private investors. FHA Direct Endorsement Underwriter and Underwriter for VA automatic loans 4 1975 — 1980: Hall & Hall Real Estate Company, Beaumont, Texas Fee Appraiser STEPHEN FORREST PEYTON 4325 THOMAS LN BEAUMONT,TX 77706 Certified Residential TALCB Real Estate Appraiser TEXAS APPRAISER LICENSING 1 CERTIFICATION BOARD Appraiser: Stephen Forrest Peyton License #: TX 1325521 R License Expires: 09/30/2025 Having provided satisfactory evidence of the qualifications required by the Texas Appraiser Licensing and Certification Act, Occupations Code, Chapter 1103, authorization is granted to use this title: Certified Residential Real Estate Appraiser ¢ -- Chelsea Buchholtz For additional information or to file a complaint please contact TALCB Commissioner at www.talcb.texas.gov, Exhibit "B" (Vietnamese Dominican Sister's Counteroffer) s.pr24489 j DOMINICAN SISTERS OF MARY IMMACULATE PROVINCE ir,I 1 Office of the Provincial 1 v July 21, 2025 P Ronald Burton, CPM City Manager of Port Arthur 444 4th Street 1 Port Arthur, TX 77640 Cc: Charlotte M. Moses,Mayor of City of Port Arthur Dear Mr. Ronald Burton and to the Esteemed City Officials of Port Arthur, On behalf of the Dominican Sisters of Mary Immaculate Province, I am writing to formally offer our property located at 1148 9th Ave.,Port Arthur,TX 77642 for sale. We are requesting a purchase price of$ 350,000.00. This property has been our cherished home since August 22, 1996, serving as a vital center for our community and ministry for nearly three decades. During our time here,we have been deeply committed to serving the community of the City of Port Arthur. Living our Dominican spirituality of preaching and teaching,our presence and example have greatly supported the local Catholic Church in the Diocese of Beaumont, especially the Catholic Community at Queen of Vietnam Catholic Parish. Many children in the area were taught by our religious sisters,who endeavored to set a faith-filled foundation on God for them and their families. Additionally, several of our Sisters were enrolled at Lamar University, pursuing degrees while residing at this 1 address. I i Throughout our nearly three decades of ownership, we have diligently maintained the property. The building itself has been lovingly cared for,and the surrounding grounds have been I meticulously tended, reflecting the respect and stewardship we hold for our home and the neighborhood. We believe the property stands as a testament to this continuous care and is in fairly good condition. However, since last year(2024), our provincial needs have changed. We no longer need a residence specifically for sisters attending Lamar University,and with the opening of an additional convent in Beaumont that provides a closer commute for teaching at local Catholic Schools, we recently moved to Holy Family Convent at the Holy Family Retreat Center. On the weekend,two Sisters still serve the youth in their Sunday Catechesis at Queen of Vietnam Catholic Church. For these reasons,we have made the difficult decision to sell this property. Our intention is to secure a financial investment for our Province rather than leave the property vacant. It is with our understanding that the City of Port Arthur may have an interest in this property,and therefore, through this letter,our community would like to formally offer$ 350,000.00 for its purchase. 525O GASMER DRIVE * HOUSTON,TX 77035 *TEL 713.723.8250 FAX: 713.723.8229 * www.houstondominicans.org DOMINICAN SISTERS OF MARY IMMACULATE PROVINCE We sincerely hope for your favorable approval and acceptance of this offer, to the best of the City's capacity. While this decision has been a challenging one for our community, we look to the future with faith, trusting that God has a plan for us to continue our ministry wherever we may fittingly settle. It is our heartfelt hope that this property will continue to be a beacon of light for its new owner and the community it serves. Thank you for your time and consideration. We look forward to your response. Sincerely, /�`� � rti s�s tt T� /ly�1_ A\ iltopA Sr. Maria Theresa Kim-Hong uyen,.e"�(h Provincial Superior 2I Dominican Sisters of Mary I ula 41r, -' Cellphone: 346-813-4419 `; c Email: srmariatheresaop@gmail.com 5250 GASMER DRIVE * HOUSTON,TX 77035 *TEL:713.723.8250 FAX: 713.723.8229 * www.houstondominicans.org Exhibit "C" (City's Final Offer) s.pr24489 CHARLOTTE MOSES,MAYOR RONALD Bi1RTON,CPM HAROLD L DOUCET,SR.,MAYOR PRO TEM City of CITY MANAGER SHERRI BELLARD,TRMC COUNCIL MEMBERS: _ CITY SECRETARY WILLIE"BAE"LEWIS,JR. o r t r 1 h u r TIFFANY L. HAMILTON EVERFIELD ROXANN PAIS COTRONEO DONEANE BECKCOM Texas CITY ATTORNEY THOMAS KINLAW III DONALD FRANK,SR. August 14, 2025 OFFER LETTER via email: srmariatheresaopa2maihcom and ton t'ttraaragLrr.com Sr. Maria Theresa Kim-Hong Nguyen, OP Provincial Superior Dominican Sisters of Mary Immaculate Province RE: Offer to Purchase Property at 1148 9th Ave., Port Arthur, Texas Dear Sister Maria Theresa: On behalf of the City of Port Arthur, I would like to thank you for your formal letter offering the sale of the Dominican Sisters of Mary Immaculate Province's property located at 1148 9th Avenue and for sharing the history and significance of this cherished home.We truly recognize and deeply appreciate the many years of dedicated service to the community, especially to the Catholic Community at Queen of Vietnam Catholic Parish here in Port Arthur. Moreover, I have met with the City Council to discuss your requested sale price of $350,000.00.After careful consideration and extensive discussion,the City Council has authorized me to present the City's final and best offer of $280,000.00 for the property. This offer is contingent on clear title to the property,with closing costs to be equally split between both parties in accordance with standard practice. If this offer is acceptable, we kindly request that you sign to acknowledge acceptance. We will then proceed with the necessary documentation to complete the acquisition process promptly. Additionally, we will ensure that all legal requirements and procedures for the transfer of the property are diligently followed with the utmost transparency and fairness. Pursuant to §21.0111(c) of the Texas Property Code, the City of Port Arthur is informing you as the owner of the property, that you have the right: (1) discuss any offer or agreement regarding the City's acquisitions of the property with others; or (2) keep the offer or agreement confidential, unless the offer or agreement is subject to Chapter 522, Government Code. "Remember,we are here to serve the Citizens of Port Arthur" P.O BOX 1089'PORT ARTHUR,TEXAS 77641.1089 409/983-8125•FAX 409,983-8124• .portarthurti.go We kindly request that you provide your formal decision regarding this offer within thirty (30) days from the date of this letter and return the signed acceptance to my office via email at ron.burtontc portarthurtx.gov.If a signed acceptance is not received within that timeframe, we will assume the offer is rejected. We look forward to completing this transaction smoothly and ensuring that the property continues to be a valued part of the community, honoring its longstanding legacy. Should you have any questions or concerns, please do not hesitate to contact my office at (409)983-8101. Thank you. Sin t" i,'.7 Rona d t 'I*on, CPM City.Manager AGREED TO AND ACCEPTED ON THIS IrlivDAY OFAuri--) , 2025 DOMINICAN SISTERS OF MARY IMMACULATE PROVINCE: BY: gl,,14* ,\4 avec dr_ NAME: _____________ ak7 146(fitYGNI Ol TITLE : 12R,1ft11C,,A-1,1 SkP6-46K,_.__.....