Paper value of water (April 17, 2017)
It is common knowledge that so-called drive-by appraisals lack facts and are not acceptable as basis for formal financial transaction appraisal requirements. TOAV consultant spent two hours at Apple Valley Ranchos’ property and then used CPUC book numbers from just nine lines on one page of a 109-page filing to came up with $50 million appraisal and getting $200,000 for 800 hours of paper work.
The methodology is flawed and the $80 million in paper deductions reveals that he could not even plagiarize correctly, took an arbitrary 10% deduction and reported that valuations are educated opinions. He has not appeared to answer questions. The TOAV financial spokesperson verbally changes numbers which are confusing, and lack clarity of substance. This is not even a minor league park capable team and no performance award deserved! Most business people understand that numbers on the books are only just paper numbers and not to be used as formal values, and specifically appraisals for real world buy/sell investment transactions. TOAV states that they have “No Plan.”
Al Rice, Apple Valley
Published: Daily Press, May 4, 2017