Through an invited, public bid process, The Industrial Development Board (“IDB”) selected The McEnery Company as the real estate appraisal firm charged with determining the current market value of the former Six Flags / Jazz Land Tract in New Orleans East. The property in question, is a defunct amusement park site that has remain closed and out of operation since Hurricane Katrina. Our scope of work included the complex determination of the marketability of extensive personal property and amusement park equipment still located on the premises, as well as procurement of a large-scale demolition scope of work and price quote to clear the land. Critical to the understanding of the cost of demolition was the contributory salvage value of extensive steel materials on-site. The IDB procured our real estate appraisal services to assist in asset evaluation related to possible plans for disposition. The appraisal process was a highly publicized assignment, and the findings and form of our appraisal report were broadly well received and understood.
