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HomeMy WebLinkAboutValbridge / Allen Brackett Shedd - Chesterley Park Conversion Appraisals CONTRACT FOR CONSULTING /APPRAISAL SERVICES VALBRIDGE PROPERTY ADVISORS I ALLEN BRACKETT SHEDD, herein referred to as the "Consultant," and CITY OF YAKIMA herein referred to as the "Client," hereby agree and contract as follows: Contract Work The Consultant will provide two Narrative Appraisal Reports of the Chesterly Park Conversion properties in Yakima County, Washington. We will develop and report our services in conformity with and subject to the requirements of the Code of Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute. The purpose of the appraisal is to provide an opinion of the market value of the properties to assist with a potential RCO conversion project. Narrative reports will be delivered within 60 days of authorization to proceed. II. Contract Sum The Consultant will perform the services outlined above on a fixed fee basis of $10,500. If further consultation or court testimony is required, the additional charge is $300 per hour. III. Time of Payment The Consultant shall submit a statement at the completion. Payment shall be due on the date of the statement and shall be deemed delinquent if not made within 30 days of the due date. Delinquent payments shall accrue interest at the rate of 18% per annum from the due date. Should it be necessary for the Consultant to employ the services of an attorney or begin legal proceedings to collect any delinquent payments, the Client shall be liable to the Consultant for a reasonable attorney's fee and the court costs incurred. IV. Termination In the event the consulting services are stopped by the Client at any time, the Consultant's fee shall be calculated, due and payable on the basis of the Consultant's fee schedule in effect on the date of the contract, and the actual hours and direct non - salary expenses incurred to the date of termination. August 19, 2015 By: DATE VALBRIDGE I ALLEN BRACKETT SHEDD 00 —Z00 By: ?Thk-cet DATE (C ENT) ,q- h e,e yvvAAAA r CITY CONTRACT NO - J RESOWTwtj • , Valbridge Property Advisors I Allen Brackett Shedd 44237mb.doc — Copyright © 2015 ® Corporate Office / Smith Tower \fa I b r � d e 506 2nd Avenue, Suite 1001 18728 Bothell Way NE, Suite B 419 Bery Avenue, Suite A g Seattle, WA 98104 Bothell, WA 98011 Fircrest, WA 98466 �1�'� PROPERTY ADVISORS 206- 209 -3016 phone 425 - 450 -4040 phone 253 - 274 -0099 phone 425 - 688 -1819 fax 425 - 688 -1819 fax 425 - 688 -1819 fax Allen Brackett Shedd valbridge.com valbridge.com valbridge.com August 19, 2015 Mr. Jeff Cutter RECEIVED City of Yakima Legal Department 200 S. Third Street AUG 2 1 2015 Yakima, WA 98901 -2830 jeff.cutter @yakimawa.gov CITY LEGAL DEPT, RE: APPRAISAL OF THE CHESTERLY PARK CONVERSION PROPERTIES IN YAKIMA, YAKIMA COUNTY, WASHINGTON Dear Mr. Cutter: As requested, we have reviewed information relating to the property referenced above for the purpose of estimating a fee and timing for completion of two Narrative Appraisal Reports. Our reports will consider all applicable approaches to value and conform to Uniform Standards of Professional Appraisal Practice, as well as the Uniform Appraisal Standards of Federal Land Acquisition and RCO /NPS. The purpose of the appraisal is to provide an opinion of the market value of the property for potential RCO conversion purposes. Briefly, the conversion is expected to release roughly 7 acres in the Chesterly Park vicinity, to be replaced with similar acreage at the property known as the Bohannon property. It is our understanding that the Bohannon property is in the process of being annexed into City limits. As such, we anticipate that our appraisal will include the Hypothetical Condition that annexation has occurred. Our conclusions will be conveyed as narrative reports within 60 days of authorization, for a total fee of $10,500. This fee quote and timing is valid for one week from the date of this letter. In order to proceed with this assignment, we need the following information: 1. A signed copy of the enclosed contract, or equivalent, returned to us. 2. Copy of legal description and title report for both sites, if available. 3. Mapping defining both properties, if available. 4. Copies of any recent site specific studies. 5. Name and number of contact person(s) for inspections. 44237mb.doc — Copyright © 2015 Thank you for your consideration. We look forward to the opportunity of working with you. Please call if you have any questions. Sincerely, VALBRIDGE PROPERTY ADVISORS I ALLEN BRACKETT SHEDD S. Murray Brackett, MAI Valbridge Property Advisors I Allen Brackett Shedd 44237mb.doc — Copyright © 2015 , . ' o LEGAL DEPARTMENT � y 4r '` ; ' K ; '; 200 South Third Street 1 ;�`r Yakima, Washington 98901 -2830 August 26, 2015 S. Murray Brackett, MAI Senior Managing Director Valbridge Property Advisors l Allen Brackett Shedd 18728 Bothell Way NE, Suite B Bothell, WA 98011 Re: Appraisal of the Chesterley Park Conversion Properties- Yakima, WA Contract for Consulting/ Appraisal Services Dear Mr. Brackett: Please find enclosed a fully executed original Contract for Consulting/ Appraisal Services between Valbridge Property Advisors l Allen Brackett Shedd and the City of Yakima for your file. Sincerely, 0 ti'` Patricia Martinez Assistant to Jeff Cutter, City Attorney pm Enclosure cc w /encl.: Sonya Claar Tee, City Clerk (original Contract); Yakima Itsitad Al-mnwan Civil Division (509) 575 -6030 • Prosecution Division (509) 575 -6033 • Fax (509) 575 -6160 11 11 / 1994