HomeMy WebLinkAboutR-2012-089 Letter of Engagement Agreement with Korn's Appraisal Service; Regional Soccer Complex Grant ApplicationA RESOLUTION
RESOLUTION NO. R-2012-89
authorizing the City Manager to execute a letter of engagement
agreement with Korn's Appraisal Service for professional appraisal
services in support of an acquisition grant application for proposed
Central Washington Regional Soccer Complex.
WHEREAS, the City Council of the City of Yakima (City) has previously authorized
submission of an application for a grant from the Washington State Recreation and
Conservation Office, Washington Wildlife Recreation Program, for acquisition of parcels of
property to facilitate future development of a regional soccer complex within the City; and
WHEREAS, the requirements of such grant application require an appraisal
supporting the designated value of such parcels to be acquired with the assistance of
grant funds; and
WHEREAS, Korn's Appraisal Service has been found and determined to be a
qualified professional appraiser, and has submitted a proposed Letter of Engagement
agreement to provide the necessary appraisal, and
WHEREAS, the City Council finds and determines that approval of such letter of
engagement agreement is in the best interests of residents of the City and will promote
the general health, safety and welfare; therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
The City Manager is hereby authorized to execute the Letter of Engagement
agreement with Korn's Appraisal Service for professional appraisal services regarding the
properties described therein, which Letter of Engagement is attached hereto as Exhibit "A"
and incorporated herein by this reference; now, therefore,
ADOPTED BY THE CITY COUNCIL this 2nd day of July, 2012
Micah Cawley, Mayor
Korn's Appraisal Service
June 19, 2012
602 SO. 5TH AVENUE
YAKIMA, WA 98902
509-248-7010
FAX 509-457-7766
Joan Davenport, AICP
Planning Division Manager
Department of Community and Economic Development
129 N. Second Street
Yakima, Washington 98901
Dear Ms. Davenport:
This engagement letter is to confirm your intent to hire our firm to appraise the property that has
been discussed by you and I recently and is identified as: Parcel: 191318-42001 (11.88 ac.)&
41001(37.66 ac.), Yakima Washington. Parcel 42001, which has an old building present, is in
the name of: Leelynn Inc & Wiley Mt Inc, and parcel 41001, which is vacant, is in the name of
Boise Cascade Corporation. We have completed appraisals on numerous commercial and
industrial properties in the past, and therefore we would be interested in appraising these
properties for you. As was discussed, this appraisal will be used to assist the City of Yakima in
purchasing the properties.
We will provide you with a Summary Appraisal Report, which will conform to USPAP
guidelines, outlining the Sales Comparison Approach to value, which is most meaningful in
vacant land properties. As was discussed, parcel 41001 has some environmental issues which
would have to be addressed in order to use the property. The cost to cure these conditions would
have to be deducted from the value to determine the market value. It is assumed the City of
Yakima would be responsible for any costs required to obtain such estimates to be used in this
appraisal in order to support Extraordinary Assumptions and Hypothetical Conditions.
As you know, we cannot guarantee any particular value, but will consider all factors relative to
value, and will include a summary narrative appraisal.
Our fee to complete this assignment is $6,000, and the appraisal will be completed by July 12,
2012.
If this is acceptable to you, please sign and return this letter and we will proceed.
We welcome the opportunity to work for you on this property.
KORN'S APP '.• SAL SERVICE
rNO:jOJ 5tg
RESOLUTION NO:
/
eve Korn, SRA
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. i tc
For Meeting of: July 2, 2012
ITEM TITLE:
Resolution authorizing a letter of engagement agreement
with Korn's Appraisal Service for professional appraisal
services, not to exceed $6,000, in support of an acquisition
grant application for proposed Central Washington
Regional Soccer Complex.
SUBMITTED BY: Michael Morales, Interim City Manager
Joan Davenport, Planning Manager & Acting CED Director
CONTACT Joan Davenport, Planning Manager & Acting CED Director
PERSON/TELEPHONE:
SUMMARY EXPLANATION:
The City of Yakima is in the application process for a grant from the Washington Wildlife and
Recreation Program (WWRP) project of the Recreation and Conservation Office (RCO) as
provided in RCW 79A.15 to support the acquisition of property in the vicinity of the Cascade
Mill Area for future use as a soccer complex. The Council authorized this grant application
on April 17, 2012. One requirement of the grant application is an independent, professional
property appraisal, which Korn Appraisal Services is willing to provide, as evidenced in the
Letter of Engagement.
Resolution X Ordinance
Contract: Mail to:
Contract Term: Amount:
Insurance Required? No
Funding
Source:
APPROVED FOR
SUBMITTAL:
Other
(specify)
Expiration Date:
Phone:
City Manager
STAFF RECOMMENDATION:
Authorize the Resolution to engage Korn Appraisal Services for the required property
appraisal
BOARD/COMMISSION RECOMMENDATION:
ATTACHMENTS:
Click to download
0 Resolution authorizing CityManager to execute letter of engagement agreement with Korn Appraisal Services for
professional Services
❑ Letter of engagement