GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS SUMMARY Professor of real estate appraisal and one of the leading professional valuation experts in America with expertise in complex properties, impaired properties, eminent domain, appraisal forensic analysis, construction defects, loss of use and enjoyment, valuation of “green” buildings, and a wide variety of other real estate valuation/litigation matters. Experience in 39 States. CURRENT CORPORATE POSITION President American Valuation, Inc 1958 South Landing Way Weston, Florida 33326 1+ 954-349-9725 www.americanvaluation.com Email: amervalu@bellsouth.net Georgia Office: 1870 The Exchange, Suite 100 Atlanta, GA 30339 CURRENT ACADEMIC POSITIONS University of British Columbia Sauder School of Business UBC Real Estate Division 202-2053 Main Mall Vancouver, B.C. Canada Course author and webinar moderator CPD 102: Valuation of Property Impairments and Contamination (2010 – present) Professor of Urban Land Economics and Real Estate, Department of Accounting and Finance UGSM-Monarch Business School Flurstrasse 1, PO Box 30, CH-6332 Hagendorn-Zug - Switzerland Email: grant.austin@ugsm-monarch.com (2010 – present) CURRENT PROFESSIONAL POSITION The Appraisal Foundation Appraisal Practices Board Subject Matter Expert Panel appointment 1155 15th Street, NW, Suite 111 Washington, DC 20005 04/2012 1 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS PRIOR ACADEMIC POSITIONS Adjunct Professor Florida Atlantic University College of Business 2912 College Avenue Davie, Florida USA (2001 – 2006) Adjunct Professor Graduate School of Business Ctr. for Real Estate Education University of St. Thomas 1000 LaSalle Avenue Minneapolis, MN USA (2004-2006) Faculty Member Institute for Sustainable Design Boston Architectural College 320 Newbury Street Boston, MA USA (2009 – 2010) EDUCATION Honors B.A. Summa Cum Laude, York University M.S. in Real Estate Appraisal, University of St. Thomas, Shenehon Center for Real Estate Education, Opus College of Business (AACSB accredited), Minneapolis, Minnesota CURRENT ACADEMIC/PROFESSIONAL JOURNAL AFFILIATIONS Advisory Board Member: Journal of Sustainable Real Estate, Burnham-Moores Center for Real Estate, University of San Diego (2009 – present) Review Board Member: Journal of Sustainability Education, The Institute for Social Change and the Prescott College PhD Program in Sustainability Education (2009 – present) Editorial Advisory Board Member: Property Management, Emerald Insight, ISSN: 0263-7472 (2010 – present) Editorial Board Member: Journal of Sustainable Development, ISSN: 1913-9063 (Print) ISSN 1913-9071 (Online), (2010-present) PROFESSIONAL DESIGNATIONS MAI: Appraisal Institute Member #11,184 (1/1997 – present) MMRS: Member of the Market Research Society # 02060682 (7/2001 – present) MRICS: Professional Member of the Royal Institution of Chartered Surveyors, #1135834, Faculty of Valuation (2/2006 – present) PROFESSIONAL HONORS Member: Lambda Alpha International – An Honorary Land Economics Society (1997 - present) 04/2012 2 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS PRIOR ACADEMIC AFFILIATION Member: Advisory Board of the FAU Office of Real Estate Research and Education (ORERE) (1998 – 2008) PRIOR PROFESSIONAL AFFILIATIONS AND POSITIONS Vice President and Director: Association of Eminent Domain Professionals (1994-1995) Chairman: Public Relations Committee, Appraisal Institute Region X (1995-1997) Member: American Real Estate and Urban Economics Association (1996) Member: Appraisal Institute South Florida Caribbean Chapter, Public Relations Committee (1996-1997) Member: Association of Eminent Domain Professionals (1994-1996, 1998) Chairman: Appraisal Institute, Public Relations Committee, South Florida-Caribbean Chapter (1994-1995) Director: Association of Eminent Domain Professionals (1993-1994) Member: Appraisal Institute, Education Committee, South Florida-Caribbean Chapter (19931994) Member: “Eastward Ho” Legislative Action Team (South Florida Regional Planning Council)(1997) MAI Liaison/Advisor: University of Florida MBA/MA Program in Real Estate (1998) Director: Lambda Alpha International – An Honorary Land Economics Society (1997-1999) Member: Board of Governors of Lambda Alpha International (1997-1999) Trustee: Land Economics Foundation (1997-1999) President: South Florida Chapter of Lambda Alpha International (1997-1999) Member: Lambda Alpha International Strategic Planning Committee (1998-1999) Member: Steering Committee of the Southeast Florida/Caribbean District Council of the Urban Land Institute (1998 – 1999) 04/2012 3 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS Member: American College of Forensic Examiners (ACFE) (1999 – 2001) Member: Association of Eminent Domain Professionals (1993-1996, 1998, 2001) Director: Royal Institution of Chartered Surveyors Florida Chapter (2006-present) Member: AI Valuation and Litigation Services Shared Interest Group (2006-present) Member: Royal Institution of Chartered Surveyors EU Advisory Group on Sustainable Property Investment & Management (2008-2009) Member: National BIM Standard (NBIMS) Project Committee, National Institute of Building Sciences (2009 – 2010) APPRAISAL INSTITUTE EDUCATIONAL CERTIFICATION The Appraisal Institute conducts a voluntary program of continuing education for its designated members. Mr. Austin is certified under this program through December 31, 2012. PUBLICATIONS AND LECTURES Boston Architectural College, Course developer and faculty member, “The Economics of Green Building,” Institute for Sustainable Design, Graduate program (Fall 2009/Winter 2010) Institute of Green Professionals, Course co-developer, “Sustainable Development Literacy for Professionals,” “Sustainable Architecture,” “Real Estate Appraisal of Sustainable Residential Development,” and “Real Estate Appraisal of Sustainable Commercial Development” (2008) University of St. Thomas, Course Developer/Lecturer, “Advanced Theory and Methods of Valuation for Condemnation,” M.S. Program in Real Estate Appraisal, Graduate School of Business, Center for Real Estate Education (January, 2004 and 2005) Palm Beach County Bar Association, Environmental/Land Use/Eminent Domain CLE Course #26073, Author and Speaker, “Access Related Damages – Valuation Considerations” (March, 2003) Appraisal Institute, Content Reviewer, The Dictionary of Real Estate Appraisal, 4th Ed., (2002) ISBN 0-922154-72-4 Exposure Draft of International Valuation Guidance Note – Reviewing Valuations, International Valuation Standards Committee, Contributor (June, 2003) 04/2012 4 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS The Appraisal Journal, Author, “The Role of Formal Survey Research Methods in the Appraisal Body of Knowledge,” with Marcus T. Allen, PhD, (October 2001 pp 394-403) The Florida Bar, Eminent Domain Committee, Speaker, “The Use of the Survey Method in Real Property Valuation” (June, 2001) Florida Atlantic University, Guest Lecturer, “Applications and Techniques of Surveys in Real Property Valuation” M.A. Program in Research Methodology, School of Urban and Public Policy (April, 2001) Association of Eminent Domain Professionals, Speaker, “Survey Methodology in Real Property Valuation – Evolving Standards” (January, 2001) American Law Institute-American Bar Association, Speaker, “USPAP Valuation Methods and Survey Methodology” (January, 2001) The Florida Bar, Eminent Domain Committee, Speaker/Author, “Contingent Valuation Methodology” (Winter, 2000) Appraisal Institute, Valuation Insights and Perspectives, Author, “Putting the ‘Survey’ Method to the Test: An Alternative when the Three Approaches Just Won’t Work,” 4th Q., 1999, pp 35-36. South Florida Auto-Truck Dealers Association, Author, Value of an Automobile Dealership’s Frontage Display, (1999) University of Florida, Alfred A. Ring Distinguished Speaker Series, Keynote Speaker, “The Future of Real Property Valuation into the Next Century” (1998) University of Florida, Course developer for the Capstone course for the M.A. in Real Estate (1998) American Valuation, Author, The Property Owner’s Guide to Condemnation, (1999) Florida Atlantic University, Executive Advisory Board, Speaker, “The Real Estate and Construction Program” (1997) Appraisal Institute, Speaker, “Marketing Professional Services” (1996) Association of Eminent Domain Professionals, Chairman/Panelist, “Preparation of Effective Technical Proposals and Negotiating for Professional Service Contracts” (1995) Comprehensive Appraisal Workshop, Author, Calculator Skills for the HP 19B (1995) 04/2012 5 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS Appraisal Institute, Chairman/Panelist, “Limited Appraisals/Evaluations” (1995) Florida Atlantic University, Speaker, “Inverse Condemnation” (1994) John Wiley & Sons, Inc., Contributor, Principles of Statistics (1983) ISBN 00-471-0798999-8 John Wiley & Sons, Inc., Contributor, Study Guide for Principles of Statistics (1983) ISBN 0-471-08237-6 SPECIAL CITATIONS Marquis Who’s Who in the World, (18th Ed., thru 30th Ed.), 2001-2012, New Providence, NJ, Selected the biography of G.W. Austin as an accomplished individual leading us forward into the 21st century. Marquis Who’s Who in Finance and Business, 2004-2007, New Providence, NJ. Marquis Who’s Who in America, (54th thru 65th Ed.), 1999-2011, New Providence, NJ; Selected the biography of G.W. Austin due to the reference value of outstanding achievements. Professional appraisal career cited in Marquis Who’s Who in America, South and Southwest 26th Edition, 1999, New Providence, NJ, 1998. Professional achievements cited in Marquis Who’s Who in Finance and Industry (34th Ed.), 2004-2005, New Providence, NJ; Selected the biography of G.W. Austin due to the reference value of outstanding achievements. Appraisal career is featured in Real Estate Principles, 6th Ed., C.F. Floyd and Marcus T. Allen, Dearborn Financial Publishing, Chicago, IL, 1999, p.203. COURSES, EXAMINATIONS AND SEMINARS 03/12 Business Practices and Ethics, AI 02/12 Appraisal Curriculum Overview - General, AI 02/12 Appraisal Curriculum Overview - Residential, AI 11/10 Game Theory, Department of Economics and the School of Management, Econ159, Yale University 11/10 Valuation, Stern School of Business, New York University 04/2012 6 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS 06/10 Real Property Law, OREA Real Estate College 04/10 We Value Canada Workshop, AIC 04/10 Residential Design: The Makings of a Good House, AI 04/10 Florida Law for R.E. Appraisers, AI 04/10 7-Hour National USPAP Update, AI 04/10 Spotlight on USPAP: Appraisal Review, AI 04/10 Supervisor Trainee Roles and Rules, AI 03/10 Causal and Statistical Reasoning, Department of Statistics, College of Humanities and Social Sciences, Carnegie Mellon University 03/10 Financial Markets, ECON 252, Department of Economics, Yale University 03/10 Market Conditions Addendum Form, AI 10/09 Building a Sustainable Future: Progress & Trends Toward Improving the Environmental Footprint of Commercial Buildings, GreenBuildings.com/JohnsonDiversey 07/09 Risks and Insurance Issues in Green Development, USGBC and Marsh USA 06/09 Introduction to Ecological Economics, University of Vermont 03/09 Introduction to Valuing Green Buildings, AI 11/08 Sustainability and Architecture, AIA 11/08 Sustainable Design: Current Trends and Management Tools, AIA 11/08 Sustainable Design, AIA 11/08 Residential Design & Functional Utility, AI 10/08 7-Hour National USPAP Update Course, AI 10/08 Supervisor Trainee Roles and Rules, AI 04/2012 7 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS 10/08 Litigation Skills for the Appraiser, AI 10/08 Florida Law for Real Estate Appraisers, AI 10/08 Green Homebuilding by Design, AIA 09/08 The Valuation of Wetlands, AI 07/08 Ocean Energy: Tide Current, and Wave Energy, ELI 07/08 Nanotechnology: Regulatory and Litigation Update, ELI 11/07 Business Practices and Ethics, AI 07/07 Bridging Environmental and Architectural Design to Nurture Renewability, Autodesk/AIA 06/08 Voluntary Carbon Credits and the FTC Green Guides, ELI 06/08 The Clean Water Act, ELI 06/08 Massachusetts v. EPA – 1 Year Later, ELI 05/08 International Competition and Climate Change Legislation, ELI 05/08 Implementing AB 32: California’s Pathbreaking Climate Change Legislation, ELI 04/08 Ports, Shipping, and Air Emissions, ELI 03/08 Global Climate Change and Carbon Finance, ELI 03/08 Emerging and Expanding Ocean Uses: Scientific and Regulatory Uncertainty, ELI 02/08 LEED for Existing Buildings Technical Review, U.S. Green Building Council 01/08 Moving Forward in International Climate Negotiation, ELI 01/08 Advancing the Rule of Law to Protect China’s Environment, ELI 06/06 Appraising Convenience Stores, AI 06/06 Cost Approach to Commercial Appraising, AI 04/2012 8 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS 05/06 Real Estate Finance, Value and Investment Performance, AI 05/06 Case Studies in Complex Residential Valuation, AI 05/06 Appraisal Consulting: A Solutions Approach for Professionals, AI 05/06 3-Hour Florida State Law for R.E. Appraiser, AI 05/06 7-Hour National USPAP Update Course, AI 04/06 Appraising Real Estate in Hurricane Katrina Impacted Areas, AI 03/06 Daubert Criteria for Expert Witness Testimony, Economic Research Institute 03/06 AI/RICS Valuation Conference 08/04 30 Hours of Continuing Education for Real Estate Appraisers 06/04 North American Valuation Summit on Financial Reporting, The Center for Advanced Property Economics, AI 06/04 Pattern Discovery in Property Markets, AI 02/04 Multifamily Housing Market in South Florida, Urban Land Institute 09/03 Valuation for Financial Reporting Purposes, AI 08/03 Feasibility, Market Value, Investment Timing: Option Value, AI 07/03 Mergers and Acquisitions: A Strategic Valuation Approach, American Management Association 10/02 Standards of Professional Practice, Part C 10/02 Eminent Domain Conference, CLE International 08/02 Market Analysis and Feasibility Studies, University of St. Thomas, MN 04/02 Valuation & Investment Models for Contaminated Property; Due Diligence; Statistical and Survey Standards; Global Environmental Standards, The Center for Advanced Property Economics, AI 02/02 Analyzing Commercial Lease Clauses, AI 04/2012 9 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS 01/02 Advanced Topics in Real Estate Appraisal, University of St. Thomas, MN 08/01 Statistical Analysis for Real Estate Appraisal, University of St. Thomas, MN 08/01 Urban Land Economics, University of St. Thomas, MN 04/01 Understanding and Testing Discounted Cash Flow Valuation Models 01/01 Legal Issues in Valuation, University of St. Thomas, MN 01/01 Eminent Domain and Land Valuation Litigation, ALI-ABA 11/00 Appraisal and Legal Issues in Land Use Disputes 10/00 USPAP “Core” Law for Appraisers 3/00 Regression Analysis in Appraisal Practice: Concepts and Applications, AI 11/99 Evidence and Forensic Examination 10/99 Attacking and Defending an Appraisal in Litigation, AI 8/99 Condemnation Appraising: Advanced Topics and Applications 720, AI 8/99 Partial Interest Valuation – Divided, AI 11/98 30 Hours of Continuing Education for Real Estate Appraisers 9/98 Eminent Domain Conference, CLE International 1/98 Advanced Topics in the Sales Comparison Approach, AI 9/96 USPAP “Core” Law for Appraisers 6/95 Case Law, It’s Effect on the Expert’s Valuation 3/95 Limited Appraisals/Evaluations, AI 1/95 The Comprehensive Appraisal Workshop, AI 11/94 USPAP “Core “ Law for Appraisers 04/2012 10 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS 10/94 Advanced Sales Comparison and Cost Approaches 530, AI 5/94 Standards of Professional Practice, Parts A&B (USPAP) 5/94 Demonstration Appraisal Report, AI 5/94 Appraisal Principles 110, AI 3/94 Principles of Real Estate, AI 3/94 Real Estate Appraisal, AI 2/94 American with Disabilities Act Seminar, AI 10/93 Report Writing and Valuation Analysis 540, AI 9/93 Hotel Valuation, AI 7/93 Americans with Disabilities Act, AI 6/93 Guide to Errors & Omissions Lawsuit, AI 3/93 Advanced Applications 550, AI 10/92 Professional Standards USPAP Update Core Law for Appraisers 9/92 Continuing Education: The New Generation, AI 9/92 Subdivision Analysis, AI 4/92 Appraisal Theory Update Seminar, AI 10/91 Capitalization Theory and Techniques Part A, AI 9/91 Hotel/Motel Market Study, Valuation and Investment, AI 7/91 Principles of Income Property Appraising 200, AI 6/91 Marshall Valuation Calculator Method and Segregated Method, Marshall Valuation 5/91 Basic Valuation Procedures 1A-2, AI 04/2012 11 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS EXPERT WITNESS AND TRIAL CONSULTANT Member of the Real Estate Council, GLG Educator®: Gerson Lehrman Group IDEX Inc. (a LexisNexis® corporation) Technical Advisory Service for Attorneys Expert witness for the Florida RE Appraisal Board Westlaw® Round Table Group HGExperts.com Intota.com ORC International Qualified as a Real Property Valuation Expert in Florida Circuit Courts – Dade, Broward, Martin, Palm Beach, Lee, Orange and Volusia Counties REAL PROPERTY VALUATION/CORPORATE POSITIONS President, American Valuation, Inc. (08/1998 – present) Senior Consulting Analyst, Greenfield Advisors (12/2010 – present) President, Institute of Green Professionals, Inc. (01/2008 – 9/2010) Senior Real Estate Analyst/Consultant, Silver Hill Financial, LLC (2/2007-4/2008) Chief Operating Officer and Managing Director of Pardue, Heid, Church, Smith & Waller Inc. (10/97-07/98) Associate of The Ames Organization (2/97-10/97) President of American Valuation Analysts, Inc. (3/95-12/97); predecessor to American Valuation, Inc. Assistant Vice President of Landauer Associates (8/95-10/95) Senior Appraiser with the Florida Department of Transportation (10/91-5/95) Associate with Roe, Westberry & Associates, Inc. (9/90-10/91) 04/2012 12 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS APPLICATION OF APPRAISALS AND TRIAL CONSULTING Litigation Appraiser misconduct/malpractice Mediation Daubert challenges Forensic Valuation Purchase or Sale Mortgage Loan Underwriting Feasibility Analysis Eminent Domain PARTIAL LIST OF PROPERTY TYPES APPRAISED/REVIEWED/TESTIMONY Single Family Homes and Subdivisions Marinas Residential and Industrial Subdivisions Ambulatory Surgical Center Shopping Centers Mobile Home Parks Manufacturing plants/Industrial/Office Parks Gas pipeline corridors and electric corridors Special Use Properties Service stations/auto lube/car wash Veterinary Hospitals Convenience stores Easements Golf courses/resort hotels Condo Hotels/Condominiums Office Buildings Warehouses/Mini-warehouses Automobile Dealerships Single and Multi-Family Residences Religious facilities Agricultural Land and Wetlands Condominium conversions Motels and bed and breakfasts Private schools Condominiums STATE CERTIFICATION Certified General Real Estate Appraiser – State of Florida #RZ 0001771 (1993 - present) Certified General Real Property Appraiser – State of Georgia #344758 (3/2011 - present) AQB Compliant – Federal Financial Institution Examination Council National Registry State Certified General Appraiser licenses acquired in other States as required 04/2012 13 GRANT W. AUSTIN, M.S., MAI, MMRS, MRICS PROFESSIONAL QUALIFICATIONS PARTIAL LIST OF LAW FIRM CLIENTS Ackerman Senterfitt Adorno & Yoss Bilzin Sumberg Baena Price & Axelrod Brigham Moore Cobb & Cole Dionne & Gass Farish & Farish Gaylord Merlin Ludovici Diaz & Bain Gordon Hargrove & James Gray Robinson Gunster Yoakley Valdes-Fauli & Stewart Harris, Harris, Bauerle & Sharma Holland & Knight Jones Foster Johnston & Stubbs Kuvin & Stettin Kenny Nachwalter Landis Graham French Moran & Tileson Neblett, Beard & Arsenault Peckar & Abramson Ruden McClosky Smith Schuster & Russell Schnader Harrison Segal & Lewis Shutts & Bowen Steel Hector & Davis Webber Hinden McLean & Arbeiter Wilson Garber & Small LOCATIONS OF REAL PROPERTY ASSIGNMENTS Alabama, Alaska, Arizona, Arkansas, California, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, Washington, Wisconsin, Wyoming. 04/2012 14