McGrath & Company, Inc.



	QUALIFICATIONS DONALD M. McGRATH, JR., MAI, ASA President Professional Affiliations American Society of Real Estate Counselors (CRE) Appraisal Institute (MAI) #8839 New York State Appraisal Society (NYSAS) Westchester County Board of Realtors New York State Association of Real Estate Boards National Association of Realtors Dutchess County Board of Realtors State of New York - Department of State Division of Licensing Service #46-2839 Education College of the Holy Cross, Worcester, Massachusetts, B.A. (1971) New York University, Real Estate Institute, Certificate in Real Estate Appraisal New York State Realtors Institute, G.R.I. Designation American Institute of Real Estate Appraisers: Successful completion of the following courses: Real Estate Appraisal Principles - 1A1 Basic Valuation Procedures - 1A2 Capitalization Theory & Techniques - 1BA Capitalization Theory & Technique - 1BB Case Studies in Real Estate Valuation - 2-1 Report Writing & Valuation Analysis - 2-2 Litigation Valuation - 4 Conservation/Preservation Easements Standards of Professional Practice - Part A USPAP (410) Standards of Professional Practice - Part B SPP (420) Standards of Professional Practice - Part C Experience 1972-1974: Staff Appraiser - Appraisers & Planners (Formerly, Estates Management, Inc.), New York, New York. 1974-1976: Staff Appraiser and General Manager of Brokerage Division - Don McGrath Associates, Katonah, New York. 1976-1984: Vice President and Senior Appraiser - Albert Appraisal Company, Croton-on-Hudson, New York. 1984-1987: Vice President and Assistant Project Manager of "The Meadows at Cross River", a l74 unit condominium development in Cross River, New York. 1984-1987: President of McGrath & Company (Real Estate Appraisal and Consulting). 1987-2002: Partner - McGrath, Basciani & Associates, Inc., Real Estate Appraisers & Counselors, Fishkill and Briarcliff Manor, New York. 2002-Present: President - McGrath & Company, Inc., Real Estate Appraisers & Counselors, Fishkill and Bedford, New York. Over 30 years experience in the real estate appraisal business in the Control. Market analysis and counseling services to major developers and property owners, conservation groups and municipalities in Westchester, Putnam, Dutchess, Orange, Ulster and Columbia Counties. Assignments include commercial and industrial properties, apartment projects, cooperative buildings, condominium developments, special use properties, hotels, tennis clubs, golf courses, vacant land, shopping centers, nursing homes, service stations, theaters, and farms. The appraisals have been prepared for purposes of mortgage security, tax certiorari, condemnation, estate tax, gift tax, purchase and sale, project feasibility, investment analysis and conservation easements. Called as a real estate valuation expert, and qualified as such to testify at proceedings of the New York State Supreme Court, New York State Court of Claims, Bankruptcy Court, various municipalities, municipal boards and agencies in tax reduction, zoning and condemnation proceedings. Certified as an instructor of Real Estate Appraisal and Investment Real Estate for the New York State License Law Course, and Continuing Education. Primary professional territory comprises Westchester, Putnam, Dutchess, Orange, Rockland, Sullivan, Delaware, Greene, Schoharie, Ulster and Columbia Counties and the five boroughs of New York City. Major assignments completed in other parts of New York State, Connecticut, New Jersey, New Hampshire and Vermont. GERALD M. CAREY, MAI Senior Appraiser Designation/Certification Appraisal Institute (MAI) #11827 NY Dept. of State Certified General Appraiser #46-26238 Education University of Connecticut, Stamford, Connecticut - M.B.A. Pace University, Pleasantville, New York - B.B.A., Accounting A.S.A. Courses BV I - Introduction to Business Valuation BV II - Business Valuation Methodology BV III - Case Study in Business Valuation Appraisal Institute Courses Course #1A1 - Real Estate Appraisal Principles Course #1A2 - Basic Valuation Procedures Course 1BA - Capitalization Theory & Techniques Part A Course 1BB - Capitalization Theory & Techniques Part B Course 410, 420 & 430 - Standards of Professional Practice, Part A, B & C Course 540 - Report Writing and Valuation Analysis Course 550 - Advanced Applications Experience 1973 - 1978: Staff Accountant - R.T. Vanderbilt Co., Inc. Norwalk, CT. Inventory Control, Supervision of Accounting Services and Senior Cost Accountant. 1978 - 1984: Assistant Controller, American Felt and Filter, Inc., Newburgh, New York. 1983 - 1985: Adjunct Lecturer, Dutchess Community College, Poughkeepsie, New York. 1985 - 1986: Vice President Finance, Delta Education, Inc., Nashua, New Hampshire. 1986-2002: Staff appraiser with McGrath & Company (formerly McGrath, Basciani & Associates). Over 15 years experience in the appraisal field specializing in offices, retail and industrial properties in the Westchester, Putnam, Orange, Dutchess, Greene, Sullivan and Ulster Counties in New York and Fairfield, Connecticut. Other assignments in the area of tax certiorari, condemnation and project feasibility analysis. Additional experience in the business environment, involved in all facets of the accounting and financial environment including acquisition and merger, employee stock options, taxation and insurance matters. ALLAN ROBERT DEKREY, MAI Senior Appraiser Education Member of the Appraisal Institute (MAI), Chicago, Illinois, 1993 Master's Degree - Graduate Program in Community and Regional Planning, North Dakota State University, Fargo, North Dakota, 1977 Bachelor of Science - Sociology with concentrations in economics and mathematics, University of North Dakota, Grand Forks, North Dakota, 1974 Work History Real estate appraiser and analyst specializing in valuations, market and feasibility studies and related consulting activities. Background in community planning. 2002 - Present : Appraiser - McGrath & Company, Fishkill, New York 1992 - 2002 : Appraiser - McGrath, Basciani & Associates, Fishkill, New York 1987 - 1992 : Appraiser - L.T. Bookhout, Inc., Rhinebeck, New York 1984 - 1987 : Appraiser - Hines, Price & Hage, Fairbanks, Alaska 1981 - 1984 : Assistant Planning Director - Fairbanks Development Authority, Fairbanks, Alaska 1981 : Assistant Planning Director - Fairbanks North Star Borough, Fairbanks, Alaska 1977 - 1980 : City Planner - Mercer County Energy Development Board and City of Hazen, Hazen, North Dakota Specialty Appraisals of: Natural resource and conservation lands Special use properties Market/feasibility studies Community planning and land use regulations Appraisal Experience - Retail and shopping centers - Agricultural Properties - Hotels/motels/country inns - Parking lots - Apartment complexes - Environmentally contaminated - Restaurants - Medical clinics - Bank facilities - Agricultural - Office buildings - Residential subdivisions - Airport related properties - Municipal buildings - Single family residential - Automobile related - Subsidizing housing - Parkland/open space properties - Marinas - Institutional - Utility facilities - Easements/Rights-of-way - Industrial - Fuel storage - Timeshare developments - Group, adult & nursing homes - Mobile home parks - Senior housing - Condominium and cooperative sites and developments - National and state historic sites - Recreational, including indoor tennis, movie theater, bowling, golf course, health clubs and performing arts properties - College classrooms/private schools - Natural resource and conservation lands. Examples include: the William C. Whitney Area, Bartlett Carry, Black Rock Forest, Swatara Creek Greenway (Hershey, PA), and 435,200 acres of Native Entitlement Lands along the Yukon River, Alaska. - Conservation easements - Comprehensive Real Estate Inventory and Forecast for Fairbanks, Alaska, October 1986 - Real Estate Market Study, Mid-Hudson Region, 1994, 1995 & 1997 Planning Experience Employed by the Fairbanks Development Authority, a non-profit corporation created by city ordinance to stimulate economic development in the community through the use of public/private partnerships. The initial priority was revitalization of the downtown core. Work included negotiations, purchase and management (40 tenants) of the prime development block (16 individual properties) and the negotiation of a development agreement (long term land lease) for the construction of a 250 room first-class hotel, convention center and parking garage. Other efforts included: -Master planning and construction of a riverfront park and greenbelt -Planning and construction of a downtown utilidor system -Historic preservation of the historic federal building -Planning and construction of 100 units of senior citizen housing -Administration of a loan/rebate program designed to encourage code violation corrections and storefront renovations. As Assistant Planning Director for the Fairbanks North Star Borough was responsible for staff supervision, community liaison and representation at Planning Board and Borough Assembly meetings. The department was responsible for long range planning, zoning administration, subdivision review and code enforcement. As a planner for the Energy Development Board, assisted the local communities in planning for and managing rapid growth resulting from the area's energy development, including the nation's only operating large-scale coal gasification plant. Introduced the concepts of comprehensive planning, zoning ordinances, subdivision regulations and capital improvement programs. Assisted in rebuilding public facilities and infrastructure. While in Hazen, also initiated a downtown revitalization plan. Professional Memberships and Advisory Boards Appraisal Institute 1991 - 2001 American Institute of Real Estate Appraisers 1985 - 1990 President, Mid Hudson Chapter 1997 Lawrence D. Benton Award for Exceptional Chapter Service, Mid-Hudson Chapter 1995 Mid-Hudson Chapter Education Committee Chair 1995 - 1996 Board of Directors, Mid-Hudson Chapter 1995 - 1999 Regional Ethics and Counseling Panel 1993 - 1995 American Planning Association 1996 - 2001 Rhinebeck Village Zoning Board of Appeals 1995 - 2001 Rhinebeck Village Zoning Revision Committee 1998 - 2001 Rhinebeck Village Master Plan Committee 1988 – 1991 Rhinebeck CAC/Greenway Committee 2001 Alaska Planning Association 1982 - 1986 Northern Region President 1984 - 1985 Governor's Recreation Advisory Committee, State of Alaska 1983 - 1986 Fairbanks North Star Borough Transition Team 1985 FNSB Comprehensive Plan Technical Advisory Committee 1983 FNSB Industrial Site Selection Committee 1981 Hazen Recreation Committee 1978 - 1980 STANLEY A. HYMAN Senior Appraiser General Education University of North Carolina Bachelor of Arts - Economics Professional Appraisal Education American Institution of Real Estate Appraisers: I-A, Appraisal Principles, Methods and Techniques I-B, Capitalization Theory and Techniques Course 201 - Society of Real Estate Appraisers Affiliations Associate Member The Appraisal Institute Since 1970 engaged exclusively in the appraisal of real estate including banks, churches, apartment houses, condominium developments, funeral homes, motels, hotels, nursing homes, marinas, public buildings, service stations, shopping centers, residential, commercial and industrial properties for purposes of finance, purchase, sale, gift tax, estate tax, condemnation, lease, certiorari, feasibility studies, and investment analysis. Primary professional territory comprises Westchester, Putnam, Dutchess, Orange, Rockland, Sullivan, Ulster, Suffolk and Nassau Counties in New York; Bergen County in New Jersey, and Fairfield County in Connecticut. Appraisal of property in various other states including Maryland, Wisconsin, North Carolina, Ohio and Virginia. ROGER BROMFIELD Senior Appraiser Certification NYS Residential Certification #45-3221 Professional Affiliations New York State Certified Residential Appraiser (February 1992) New York State Licensed Real Estate Salesperson (May 1989) Education: Fordham University, New York, N.Y.: B.A. in Communication Arts, 1971 Experience: 2002-Present: Staff appraiser, commercial department at McGrath & Company, Fishkill, N.Y. Specializing in appraisals for conservation easements, residential estate properties, and rural residential land. Senior appraiser on the New York City Water Supply land acquisition program in the Catskill Region. 1992-2002: Staff appraiser, commercial department at McGrath, Basciani & Associates, Fishkill, N.Y. Specializing in appraisals for conservation easements, residential estate properties, and rural residential land. 1987-1992: Residential review appraiser with McGrath, Basciani & Associates. Responsible for internal review of all residential appraisals by staff appraisers working in six counties throughout the Hudson Valley (100-150 per month). 1971-1987: Nearly 15 years experience in journalism before entering appraisal profession. Positions included Managing Editor of the Peekskill Evening Star (1982-1985); and Assistant News Editor of the Rockland Journal-News (8/85-3/87). Adjunct instructor in journalism at Mercy College, Peekskill, N.Y., 1985-1986. ROBERT F. PUCARELLI Senior Appraiser Certification NYS Certification #46-06645 General Education University of Hartford, Connecticut Bachelor of Science Degree, Economics Professional Education American Institute of Real Estate Appraisers; Standards of Professional Practice Real Estate Appraisal Principles Basic Valuation Procedures Capitalization Theory Techniques, Part A Capitalization Theory Techniques, Part B Case Studies in Real Estate Valuation 2-1 Affiliations Candidate Member, American Institute of Real Estate Appraisers Employment/Experience Since 1986, engaged exclusively in the appraisal of commercial, industrial, special purpose properties, and vacant land, for purposes of development, acquisition, sale, condemnation, lease, feasibility, and investment analysis. Performed appraisal assignments throughout New York State and New Jersey. Primary professional territory includes New York, Kings, Queens, Bronx, Nassau, Suffolk, Westchester, Putnam, Rockland, Dutchess, and Orange Counties in New York; Bergen, Essex, Passaic and Hudson Counties in New Jersey. Formerly the Acting Chief Appraiser of the United States General Services Administration, Region 2. SUSAN CAREY Staff Appraiser Certification NYS Certification # 45-3547 Professional Affiliations New York State Certified Residential Appraiser Education Dunbarton College, Washington, D.C., BA in Business Administration, 1971 IBM Training Program - System 3-RPGII Appraisal Institute: NYS Licensing and Continuing Education Experience 2002-Present: McGrath & Company, Inc., Fishkill and Bedford, New York. 1988-2002: McGrath, Basciani & Associates, Inc., Fishkill and Briarcliff Manor. Appraisal of single-family homes and condominiums in Putnam and Dutchess Counties. 1971-1977: Guerlain Inc., Somers, N.Y. 1971-1973: Computer Operator and Programmer. Responsible for computer scheduling and writing and maintaining computer program. 1974-1976: Assistant Manager Data Processing Department. Assisted in installation of new computer systems including designing systems and programs related to accounts receivable, sales. 1976-1977: Data Processing Manager. Overseeing the operation of the department and training new personnel, with special emphasis on accounts receivable, sales, sales forecasting and depreciation. MICHAEL P. FITZGERALD Senior Appraiser Education State University, Fredonia, New York B.S. in Business Administration Appraisal Institute - Course 101 Appraising Real Property - 11/92 - 1/93 Experience 1987-1990 Real Estate Assistant with Fitzgerald Real Estate - Worked on renovations and resales of single and multiple family dwellings. Assisted in obtaining mortgages, leasing and marketing residential and commercial properties. 5/90 - 2002 Staff appraiser, McGrath, Basciani & Associates, Inc., Fishkill and Briarcliff Manor, New York. 2002 - Present: Senior appraiser, McGrath & Company, Inc., Fishkill and Bedford, New York. Engaged exclusively in the appraisal of real property over the past several years. Appraisal assignments include commercial, industrial and residential properties. Worked on research and feasibility reports. Appraisal assignments have been completed for the purpose of mortgage security, estate tax, condemnation, conservation easements, purchase and sale corporate real property asset valuation and assessment analysis. Primary professional territory comprises Westchester, Putnam, Rockland, Dutchess, Sullivan and Ulster Counties. IRENE MEHALAKES Staff Appraiser Certification State Certified Residential Real Estate Appraiser No. 45-21949 Professional Affiliations New York State Certified Residential Appraiser (February 1992) New York State Licensed Real Estate Salesperson (October 1984) Formal Education Queens College - Queens, New York B.A. – Education - 1967 M.S. - Education - 1970 Dutchess Community College - Real Estate Courses Appraisal Courses/Seminars -Tax Assessment Grievance Process - 2/99 -Standards of Professional Practice - 4/91; update 9/97 -Appraising High Value & Historic Homes – 11/96 -Narrative Appraisal Workshop - 11/95 -Residential Property Construction and Inspection – 1995 -Course R-3-Applied Residential Property Valuation - 3/93 -Course 101 - Principles of Real Estate Appraisal - 11/91 Employment 2002 – Present Staff appraiser, residential and commercial department at McGrath & Company, Inc., Fishkill, N.Y. Appraiser on the New York City Water Supply land acquisition program in the Catskill-Delaware Region. Also specializing in appraisals for conservation easements, residential estate properties, and rural residential land. 5/89 – 2002 Staff appraiser, residential and commercial department at McGrath, Basciani & Associates, Fishkill, N.Y. 1987-1989: Real estate salesperson - Anthony J. Tropeano Realty. 1983-1987: Real estate salesperson - Express Realty Services. 1967-1981: New York City Board of Education – Teacher St. Andrews Academy – Teacher, Assistant Administrator THOMAS HOLMES Staff Appraiser Education Cabrini College, Radnor, PA BA in Political Science Real Estate Appraisal Principles - (R1) Appraising Procedures - (R2) Basic Income Capitalization (G1) Income Capitalization (G2) New York State Salesperson License Experience 2002 -Present Staff appraiser, McGrath & Company, Inc., Village of Fishkill, Dutchess County and Town of Bedford, Westchester County, New York. 9/94 -2002 Staff appraiser, McGrath, Basciani & Associates, Inc., Village of Fishkill, Dutchess County and Village of Briarcliff Manor, Westchester County, New York Engaged exclusively in the appraisal of real property over the past several years. Appraisal assignments include commercial, industrial and residential properties. Worked on research and feasibility reports. Appraisal assignments have been completed for the purpose of, mortgage security, estate tax, condemnation, conservation easements, purchase and sale corporate real property asset valuation and assessment analysis. Primary professional territory comprises Westchester, Putnam, Rockland, Dutchess, Orange, Sullivan and Ulster Counties.

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