HomeMy WebLinkAboutHull & Associates Inc; 2004-02-05;AGREEMENT FOR LAND APPRAISAL CONSULTANT SERVICES
HULL AND ASSOCIATES, INC.
THIS AGREEMENT is made and entered into as of the ssh day of
~fibru3cq , 209, by and between the CITY OF CARLSBAD, a municipal
corporation, ?City"), and Hull and Associates, Incorporated a California corporation,
("Contractor").
I
RECITALS
A. City requires the professional services of a Land Appraisal Consultant that
is experienced in conducting appraisals relating to land secured financing, and
appraisals for Assessment DistricVCommunity Facilities Districts.
B. Contractor has the necessary experience in providing professional
services and advice related to land appraisals.
C. Selection of Contractor is expected to achieve the desired results in an
expedited fashion.
D. Contractor has submitted a proposal to City and has affirmed its
willingness and ability to perform such work.
NOW, THEREFORE, in consideration of these recitals and the mutual covenants
contained herein, City and Contractor agree as follows:
1. SCOPE OF WORK
City retains Contractor to perform, and Contractor agrees to render, those services (the
"Services") that are defined in attached Exhibit "A", which is incorporated by this
reference in accordance with this Agreement's terms and conditions.
2. STANDARD OF PERFORMANCE
While performing the Services, Contractor will exercise the reasonable professional
care and skill customarily exercised by reputable members of Contractor's profession
practicing in the Metropolitan Southern California Area, and will use reasonable
diligence and best judgment while exercising its professional skill and expertise.
3. - TERM
The term of this Agreement will be effective for a period of three years from the date first
above written. The City Manager may amend the Agreement to extend it for one
additional three-year period or parts thereof. Extensions will be based upon a
satisfactory review of Contractor's performance, City needs, and appropriation of funds
by the City Council. The parties will prepare a written amendment indicating the
effective date and length of the extended Agreement.
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4.
Time is of the essence for each and every provision of this Agreement.
TIME IS OF THE ESSENCE
5. COMPENSATION
The total fee payable for the Services to be performed during the initial Agreement term
will be thirty thousand dollars ($30,000) for AD No. 2003-01 College Boulevard and
Cannon Road East and fifty thousand dollars ($50,000) for AD No. 2002-01 Poinsettia
Lane East. No other compensation for the Services will be allowed except for items
covered by subsequent amendments to this Agreement. The City reserves the right to
withhold a ten percent (10%) retention until City has accepted the work and/or Services
specified in Exhibit "A".
Incremental payments, if applicable, should be made as outlined in attached Exhibit "A".
6. STATUS OF CONTRACTOR
Contractor will perform the Services in Contractor's own way as an independent
contractor and in pursuit of Contractor's independent calling, and not as an employee of
City. Contractor will be under control of City only as to the result to be accomplished,
but will consult with City as necessary. The persons used by Contractor to provide
services under this Agreement will not be considered employees of City for any
purposes.
The payment made to Contractor pursuant to the Agreement will be the full and
complete compensation to which Contractor is entitled. City will not make any federal or
state tax withholdings on behalf of Contractor or its agents, employees or
subcontractors. City will not be required to pay any workers' compensation insurance or
unemployment contributions on behalf of Contractor or its employees or subcontractors.
Contractor agrees to indemntfy City within thirty (30) days for any tax, retirement
contribution, social security, overtime payment, unemployment payment or workers'
compensation payment which City may be required to make on behalf of Contractor or
any agent, employee, or subcontractor of Contractor for work done under this
Agreement. At the City's election, City may deduct the indemnification amount from any
balance owing to Contractor.
7. SUBCONTRACTING
Contractor will not subcontract any portion of the Services without prior written approval
of City. If Contractor subcontracts any of the Services, Contractor will be fully
responsible to City for the acts and omissions of Contractor's subcontractor and of the
persons either directly or indirectly employed by the subcontractor, as Contractor is for
the acts and omissions of persons directly employed by Contractor. Nothing contained
in this Agreement will create any contractual relationship between any subcontractor of
Contractor and City. Contractor will be responsible for payment of subcontractors.
Contractor will bind every subcontractor and every subcontractor of a subcontractor by
the terms of this Agreement applicable to Contractor's work unless specifically noted to
the contrary in the subcontract and approved in writing by City.
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8. OTHER CONTRACTORS
The City reserves the right to employ other Contractors in connection with the Services.
9. INDEMNIFICATION
Contractor agrees to indemnify and hold harmless the City and its officers, officials,
employees and volunteers from and against all claims, damages, losses and expenses
including attorneys fees arising out of the performance of .the work described herein
caused in whole or in part by any willful misconduct or negligent act or omission of the
Contractor, any subcontractor, anyone directly or indirectly employed by any of them or
anyone for whose acts any of them may be liable.
The parties expressly agree that any payment, attorney's fee, costs or expense City
incurs or makes to or on behalf of an injured employee under the City's self-
administered workers' compensation is included as a loss, expense or cost for the
purposes of this section, and that this section will survive the expiration or early
termination of this Agreement.
10. INSURANCE
Contractor will obtain and maintain for the duration of the Agreement and any and all
amendments, insurance against claims for injuries to persons or damage to property
which may arise out of or in connection with performance of the services by Contractor
or Contractor's agents, representatives, employees or subcontractors. The insurance
will be obtained from an insurance carrier admitted and authorized to do business in the
State of California. The insurance carrier is required to have a current Best's Key Rating
of not less than "A-:V".
IO. 1 Coveraaes and Limits.
Contractor will maintain the types of coverages and minimum limits indicated below,
unless City Attorney or City Manager approves a lower amount. These minimum
amounts of coverage will not constitute any limitations or cap on Contractor's
indemnification obligations under this Agreement. City, its officers, agents and
employees make no representation that the limits of the insurance specified to be
carried by Contractor pursuant to this Agreement are adequate to protect Contractor. If
Contractor believes that any required insurance coverage is inadequate, Contractor will
obtain such additional insurance coverage, as Contractor deems adequate, at
Contractor's sole expense.
10.1.1 Commercial General Liabilitv Insurance. $1,000,000 combined
single-limit per occurrence for bodily injury, personal injury and property damage. If the
submitted policies contain aggregate limits, general aggregate limits will apply
separately to the work under this Agreement or the general aggregate will be twice the
required per occurrence limit:
10.1.2 Automobile Liability (if the use of an automobile is involved for
Contractor's work for City). $1,000,000 combined single-limit per accident for bodily
injury and property damage.
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10.1.3 Workers' Compensation and Employer's Liability. Workers'
Compensation limits as required by the California Labor Code and Employer's Liability
limits of $1,000,000 per accident for bodily injury. Workers' Compensation and
Employer's Liability insurance will not be required if Contractor has no employees and
provides, to City's satisfaction, a declaration stating this.
10.1.4 Professional Liability. Errors and omissions liability appropriate to
Contractor's profession with limits of not less than $1,000,000 per claim. Coverage must
be maintained for a period of five years following the date of completion of the work.
10.2. Additional Provisions. Contractor will ensure that the policies of insurance
required under this Agreement contain, or are endorsed to contain, the following
provisions:
10.2.1 The City will be named as an additional insured on General
Liability.
10.2.2 Contractor wil I obtain occurrence coverage, excluding Profess ion al
Liability, which will be written as claims-made coverage.
10.2.3 This insurance will be in force during the life of the Agreement and
any extensions of it and will not be canceled without thirty (30) days prior written notice
to City sent by certified mail pursuant to the Notice provisions of this Agreement.
10.3 Providing Certificates of Insurance and Endorsements. Prior to City's execution
of this Agreement, Contractor will furnish certificates of insurance and endorsements to
City.
10.4 Failure to Maintain Coveraqe. If Contractor fails to maintain any of these
insurance coverages, then City will have the option to declare Contractor in breach, or
may purchase replacement insurance or pay the premiums that are due on existing
policies in order to maintain the required coverages. Contractor is responsible for any
payments made by City to obtain or maintain insurance and City may collect these
payments from Contractor or deduct the amount paid from any sums due Contractor
under this Agreement.
10.5 Submission of Insurance Policies. City reserves the right to require, at anytime,
complete and certified copies of any or all required insurance policies and
endorsements.
11. BUSINESS LICENSE
Contractor will obtain and maintain a City of Carlsbad Business License for the term of
the Agreement, as may be amended from time-to-time.
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12. ACCOUNTING RECORDS
Contractor will maintain complete and accurate records with respect to costs incurred
under this Agreement. All records will be clearly identifiable. Contractor will allow a
representative of City during normal business hours to examine, audit, and make
transcripts or copies of records and any other documents created pursuant to this
Agreement. Contractor will allow inspection of all work, data, documents, proceedings,
and activities related to the Agreement for a period of three (3) years from the date of
final payment under this Agreement.
13. OWNERSHIP OF DOCUMENTS
All work product produced by Contractor or its agents, employees, and subcontractors
pursuant to this Agreement is the property of City. in the event this Agreement is
terminated, all work product produced by Contractor or its agents, employees and
subcontractors pursuant to this Agreement will be delivered at once to City. Contractor
will have the right to make one (I) copy of the work product for Contractor's records.
14. COPYRIGHTS
Contractor agrees that all copyrights that arise from the services will be vested in City
and Contractor relinquishes all claims to the copyrights in favor of City.
15. NOTICES
The name of the persons who are authorized to give written notices or to receive written
notice on behalf of City and on behalf of Contractor under this Agreement.
For Citv:
Lisa Hildabrand
Finance Director
Finance Department
City of Carlsbad
1635 Faraday Avenue
Carlsbad CA 92009
(760) 602-2430
For Contractor:
Bruce W. Hull, MA1
Principal
Bruce W. Hull & Associates, Inc.
I056 E. Meta Street, Ste. 202
Ventura, CA 93001
Email: Bhu1186686@aol.com
(805) 641 -3275
Each party will notify the other immediately of any changes of address that would
require any notice or delivery to be directed to another address.
16. CONFLICT OF INTEREST
City will evaluate Contractor's duties pursuant to this Agreement to determine whether
disclosure under the Political Reform Act and City's Conflict of Interest Code is required
of Contractor or any of Contractor's employees, agents, or subcontractors. Should it be
determined that disclosure is required, Contractor or Contractor's affected employees,
agents, or subcontractors will complete and file with the City Clerk those schedules
specified by City and contained in the Statement of Economic Interests Form 700.
City Attorney Approved Version #04.01.02
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Contractor, for Contractor and on behalf of Contractor's agents, employees,
subcontractors and consultants warrants that by execution of this Agreement, that they
have no interest, present or contemplated, in the projects affected by this Agreement.
Contractor further warrants that neither Contractor, nor Contractor's agents, employees,
subcontractors and consultants have any ancillary real property, business interests or
income that will be affected by this Agreement or, alternatively, that Contractor will file
with the City an affidavit disclosing this interest.
17. GENERAL COMPLIANCE WITH LAWS
Contractor will keep fully informed of federal, state and local laws and ordinances and
regulations which in any manner affect those employed by Contractor, or in any way
affect the performance of the Services by Contractor. Contractor will at all times observe
and comply with these laws, ordinances, and regulations and will be responsible for the
compliance of Contractor's services with all applicable laws, ordinances and regulations.
Contractor will be aware of the requirements of the Immigration Reform and Control Act
of 1986 and will comply with those requirements, including, but not limited to, verifying
the eligibility for employment of at1 agents, employees, subcontractors and consultants
that the services required by this Agreement.
18. DISCRIMINATION AND HARASSMENT PROHIBITED
Contractor will comply with all applicable local, state and federal laws and regulations
prohibiting discrimination and harassment.
19. DISPUTE RESOLUTION
If a dispute should arise regarding the performance of the Services the following
procedure will be used to resolve any questions of fact or interpretation not otherwise
settled by agreement between the parties. Representatives of Contractor or City will
reduce such questions, and their respective views, to writing. A copy of such
documented dispute will be forwarded to both parties involved along with recommended
methods of resolution, which would be of benefit to both parties. The representative
receiving the letter will reply to the letter along with a recommended method of
resolution within ten (IO) business days. If the resolution thus obtained is unsatisfactory
to the aggrieved party, a letter outlining the disputes will be forwarded to the City
Manager. The City Manager will consider the facts and solutions recommended by each
party and may then opt to direct a solution to the problem. In such cases, the action of
the City Manager will be binding upon the parties involved, although nothing in this
procedure will prohibit the parties from seeking remedies available to them at law.
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20. TERMINATION
In the event of the Contractor's failure to prosecute, deliver, or perform the Services,
City may terminate this Agreement for nonperformance by notifying Contractor by
certified mail of the termination. If City decides to abandon or indefinitely postpone the
work or services contemplated by this Agreement, City may terminate this Agreement
upon written notice to Contractor. Upon notification of termination, Contractor has five
(5) business days to deliver any documents owned by City and all work in progress to
City address contained in this Agreement. City will make a determination of fact based
upon the work product delivered to City and of the percentage of work that Contractor
has performed which is usable and of worth to City in having the Agreement completed.
Based upon that finding City will determine the final payment of the Agreement.
Either party upon tendering thirty (30) days written notice to the other party may
terminate this Agreement. In this event and upon request of City, Contractor will
assemble the work product and put it in order for proper filing and closing and deliver it
to City. Contractor will be paid for work performed to the termination date; however, the
total will not exceed the lump sum fee payable under this Agreement. City will make the
final determination as to the portions of tasks completed and the compensation to be
made.
21. COVENANTS AGAINST CONTINGENT FEES
Contractor warrants that Contractor has not employed or retained any company or
person, other than a bona fide employee working for Contractor, to solicit or secure this
Agreement, and that Contractor has not paid or agreed to pay any company or person,
other than a bona fide employee, any fee, commission, percentage, brokerage fee, gift,
or any other consideration contingent upon, or resulting from, the award or making of
this Agreement. For breach or violation of this warranty, City will have the right to annul
this Agreement without liability, or, in its discretion, to deduct from the Agreement price
or consideration, or otherwise recover, the full amount of the fee, commission,
percentage, brokerage fees, gift, or contingent fee.
22. CLAIMS AND LAWSUITS
By signing this Agreement, Contractor agrees that any Agreement claim submitted to
City must be asserted as part of the Agreement process as set forth in this Agreement
and not in anticipation of litigation or in conjunction with litigation. Contractor
acknowledges that if a false claim is submitted to City, it may be considered fraud and
Contractor may be subject to criminal prosecution. Contractor acknowledges that
California Government Code sections 12650 et sea, the False Claims Act applies to
this Agreement and, provides for civil penalties where a person knowingly submits a
false claim to a public entity. These provisions include false claims made with deliberate
ignorance of the false information or in reckless disregard of the truth or falsity of
information. If City seeks to recover penalties pursuant to the False Claims Act, it is
entitled to recover its litigation costs, including attorney's fees. Contractor acknowledges
that the filing of a false claim may subject Contractor to an administrative debarment
proceeding as the result of which Contractor may be prevented to act as a Contractor
on any public work or improvement for a period of up to five (5) years. Contractor
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acknowledges debarment by another jurisdiction is grounds for City to terminate this
Agreement .
23. JURISDICTIONS AND VENUE
Any action at law or in equity brought by either of the parties for the purpose of
enforcing a right or rights provided for by this Agreement will be tried in a court of
competent jurisdiction in the County of San Diego, State of California, and the parties
waive all provisions of law providing for a change of venue in these proceedings to any
other county.
24. SUCCESSORS AND ASSIGNS
It is mutually understood and agreed that this Agreement will be binding upon City and
Contractor and their respective successors. Neither this Agreement or any part of it nor
any monies due or to become due under it may be assigned by Contractor without the
prior consent of City, which shall not be unreasonably withheld.
25. ENTIRE AGREEMENT
This Agreement, together with any other written document referred to or contemplated
by it, along with the purchase order for this Agreement and its provisions, embody the
entire Agreement and understanding between the parties relating to the subject matter
of it. In case of conflict, the terms of the Agreement supersede the purchase order.
Neither this Agreement nor any of its provisions may be amended, modified, waived or
discharged except in a writing signed by both parties.
26. AUTHORITY
The individuals executing this Agreement and the instruments referenced in it on behalf
of Contractor each represent and warrant that they have the legal power, right and
actual authority to bind Contractor to the terms and conditions of this Agreement.
CONTRACTOR
(kign here)
(print name/title) ’
(e-mail address)
‘(sign here)
(print name/title) ’
$b‘t w - bw, htMdT
%*.L Cif6t 9b @ bQL* mq
**By: La5LJ/!
a&-ea &/I, SeJQ
~~~ (e-mail address)
CITY OF CARLSBAD, a municipal
corporation of the State of California
By:
City Manager or Mayor
ATTEST:
W 0- City Clerk
APPROVED AS TO FORM: RONALD R. BALL, City Attorney
- Deputy City Attorney
8 City Attorney Approved Version W4.01.02
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
STATE OF CALIFORNIA 1
COUNTYOF P$&,ufi 1
before me, ~//LYM M dr~~flL~0
DATE NAME, TITLE OF OFFICER- E.G.., “JANE DOE, NOTARY PUBLIC”
personally appeared,
personally known to me (or proved to me on the basis of satisfactory evidence) to be the
person@) whose name@) idare subscribed to the within instrument and acknowledged to me
that he/she/they executed the same in hisherheir authorized capacity(ies), and that by
hishedtheir signature(s) on the instrument the person(s), or the entity upon behalf of which
the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
(SEAL)
NOTARY PUBLIC SIGNATURE
OPTIONAL INFORMATION
THIS OPTIONAL, INFORMATION SECTION IS NOT REQUIRED BY LAW BUT MAY BE BENEFICIAL. TO PERSONS RELYING ON THlS NOTARIZED DOCUMENT
TITLE OR TYPE OF DOCUMENT
DATE OF DOCUMENT NUMBER OF PAGES 7
/-/* svc. &h&?@W dL
SIGNER@) OTHER THAN NAMED ABOVE
SIGNERS NAME SIGNERS NAME
I RIGHT THUMBPRINT I
EXHIBIT “A”
SCOPE OF SERVICES
Contactor will provide professional services and advice as described in Exhibit B
for the City of Carlsbad’s Assessment Districts College/Cannon Road East and
Poinsettia Lane East.
City Attorney Approved Version #04.01.02 9
Exhibit B
PROPOSAL FOR APPRAISAL SERVICES
PREPARED FOR THE
CITY OF CARLSBAD
ASSESSMENT DISTRICT NO. 2003-01
(COLLEGE BOULEVARD AND CANNON ROAD EAST)
CITY OF CARLSBAD
STATE OF CALIFORNIA
Submitted By
Bruce W. Hull & Associates, Inc. 1056 E. Meta Street, Suite 202
Ventura, California 93001
11 5 E. Second Street, Suite 100
Tustin, California 92780
Exhibit B
BRUCE W. HULL & ASSOCIATES, INC.
REAL ESTATE APPRAISERS 8 CONSULTANTS
November 2 1,2003
Mr. Jin Y. Kim
Fieldman, Rolapp & Associates
2 100 Main Street, Suite 2 10
Irvine, California 926 14
Reference: Proposal for Appraisal Services
Assessment District No. 2003-01
(College Boulevard and Canon Road East)
Carlsbad, California
Dear Mr. Kim:
I am pleased to submit a proposal on the above referenced project. The following information is submitted for
your consideration. ,
0 Item 1 - Related experience and client references of Bruce W. Hull & Associates, Inc.
0 Item 2 - Names and resumes of persons to be involved in the project. Please note that both myself
and my associate are MA1 appraisers.
Item 3 - Scope of Appraisal Services.
Item 4 - Public agency references for which appraisals relating to land secured financing have
been performed.
0 Item 5 - List of completed appraisals for Assessment DistrictICommunity Facilities District
projects.
Item 6 - Appraisal Fee Quote.
Item 7 - The City may utilized the appraisal in determining the feasibility of a bond issue. The
report may be published in connect with the Preliminary and Official Statements.
Item 8 - An Appraiser’s Certificate will be signed at the closing of the bond issue.
0 Item 9 - This firm has prepared a number of appraisal that are in conformity with both USPAP
and CDIAC guidelines. In addition, we have provided input to the California Debt
Advisory Commission in setting appraisal standards for CDIAC.
I believe Bruce W. Hull & Associates, Inc. is a firm that would be well suited to perform the appraisal services
required by the City of Carlsbad. The firm is small enough for direct and responsive communication with the
principal at all times, but large enough to perform large mixed use projects. I believe the background of the
company is diversified with such experience in working with various public agencies to provide the City with a
comfort level.
Respectfully submitted,
BRUCE W. HULL & ASSOCIATES, INC.
Bruce W. Hull, MA1
BWH:dh
Attachment
1056 E. Meta Street, Suite 202, Ventura, California 93001 - (805) 641-3275 - Facsimile (805) 641-3278
115 E. Second Street, Suite 100, Tustin, California 92780 - (949) 581-2194 - Facsimile (949) 581-2198
Exhibit B
ITEM 1
RELATED EXPERIENCE AND CLIENT REFERENCES
Bruce W. Hull & Associates, Inc. provides a wide range and diversity of appraisal services. We have
provided appraisal services to a variety of public agencies, lending institutions, developers, school
districts, bond underwriters, and investment bankers. Bruce W. Hull has been a real estate appraiser
since 1969 upon graduating from Westmont College, Santa Barbara, California.
Please refer to the Qualifications of Bruce W. Hull, MAI (located in Addenda) for a partial listing of
land secured appraisal assignments completed.
ITEM 2
LIST OF ASSIGNED APPRAISERS
The appraisers to be involved in this assignment will be Bruce W. Hull, MAI (principal) and Karen
S. Siino, MA1 (associate). Bruce W. Hull will be the lead appraiser. Karen S. Siino will assist. A
resume for each is located in the Addenda of this proposal.
ITEM 3
SCOPE OF APPRAISAL SERVICES
The scope of appraisal services should value the subject property on an ownership basis. Being
residential lands, the best comparison would be that of similar lands with similar densities, size, and
condition of lands. A Discounted Cash Flow Analysis may be considered due to the number of units
within Calvera Hills.
I would consider the Mello-Roos taxes (the tax rate being supplied to the appraiser according to the
RFP) and would attempt to utilize comparable market data that sold with similar tax rates. If not
available, I would attempt to estimate the impact of special taxes based on market actions.
Specifically, this would relate to the collection of comparable land sales that may have different tax
rates or have no special tax or assessment lien. A comparison (or paired analysis) between sales with
special tax lien and those without would be accomplished to determine the impact of the special tax
lien.
If no such data were available, then I would consider the special tax lien and discount the amount by
a present worth factor for a specified time to reflect a present worth estimate. The time and discount
would be based on (1) interviews with builders who have bought and developed lands with special
tax lien; and/or (2) typical time that a homeowner would occupy a home.
1
Exhibit B
ITEM 4
PUBLIC AGENCY REFERENCES
0 Santa Margarita Water District - John Schatz, General Manager; (949) 459-6601
Jurupa Community Facilities District - Carole McGreevy, General Manager (909) 685-7434
City of Corona - Elray Konkel, Assistant City Manager; (909) 736-2376
0 City of Moreno Valley - Tom Breitkreuz, Special Districts; (909) 413-3130
ITEM 5
LIST OF COMPLETED APPRAISALS FOR
ASSESSMENT DISTRICTWCOMMUNITY FACILITIES DISTRICTS
A list of Assessment Districts/Community Facilities District assignments is included in the Addenda
of this proposal. As noted several large scale residential communities have been performed
throughout Southern California. Recently, I have completed several CDF assignments for the Cities
of Oceanside and San Marcos, the Del Mar School District, and am currently working for the City of
San Diego.
ITEM 6
APPRAISAL FEE QUOTE
A not-to-exceed appraisal fee is estimated at Thirty Thousand Dollars ($30,000).
2
Exhibit B
PROPOSAL FOR APPRAISAL SERVICES
PREPARED FOR THE CITY OF CARLSBAD
ASSESSMENT DISTRICT NO. 2002-01
(POINSETTIA LANE EAST)
CITY OF CARLSBAD
STATE OF CALIFORNIA
Submitted Bv
Bruce W. Hull & Associates, Inc.
1056 E. Meta Street, Suite 202
Ventura, California 93001
115 E. Second Street, Suite 100
Tustin, California 92780
Exhibit B
BRUCE W. HULL & ASSOCIATES, INC.
REAL ESTATE APPRAISERS I CONSULTANTS
November 2 1,2003
Mr. Jin Y. Kim
Fieldman, Rolapp & Associates
2100 Main Street, Suite 210
hne, California 92614
Reference: Proposal for Appraisal Services
Assessment District No. 2002-0 1
(Poinsettia Lane East)
Carlsbad, California
Dear Mr. Kim:
I am pleased to submit a proposal on the above referenced project. The following information is submitted for
your consideration.
Item 1 -
Item 2 -
Item 3 -
Item 4 -
Item 5 -
Item 6 -
Item 7 -
Item 8 -
Item 9 -
Related experience and client references of Bruce W. Hull & Associates, Inc.
Names and resumes of persons to be involved in the project. Please note that both myself
and my associate are MA1 appraisers.
Scope of Appraisal Services.
Public agency references for which appraisals relating to land secured financing have
been performed.
List of completed appraisals for Assessment DistrictKommunity Facilities District
projects.
Appraisal Fee Quote.
The City may utilized the appraisal in determining the feasibility of a bond issue. The
report may be published in connect with the Preliminary and Official Statements.
An Appraiser’s Certificate will be signed at the closing of the bond issue.
This firm has prepared a number of appraisal that are in conformity with both USPAP
and CDIAC guidelines. In addition, we have provided input to the California Debt
Advisory Commission in setting appraisal standards for CDIAC.
I believe Bruce W. Hull & Associates, Inc. is a firm that would be well suited to perform the appraisal services
required by the City of Carlsbad. The firm is small enough for direct and responsive communication with the
principal at all times, but large enough to perform large mixed use projects. I believe the background of the
company is diversified with such experience in worlung with various public agencies to provide the City with a
comfort level.
Respectfully submitted,
BRUCE W. HULL & ASSOCIATES, INC.
Bruce W. Hull, MA1
BWH:dh
Attachment
1056 E. Meta Street, Suite 202, Ventura, California 93001 - (805) 641-3275 - Facsimile (805) 641-3278
115 E. Second Street, Suite 100, Tustin, California 92780 - (949) 581-2194 - Facsimile (949) 581-2198
Exhibit B
ITEM 1
RELATED EXPERIENCE AND CLIENT REFERENCES
Bruce W. Hull & Associates, Inc. provides a wide range and diversity of appraisal services. We have
provided appraisal services to a variety of public agencies, lending institutions, developers, school
districts, bond underwriters, and investment bankers. Bruce W. Hull has been a real estate appraiser
since 1969 upon graduating from Westmont College, Santa Barbara, California.
Please refer to the Qualifications of Bruce W. Hull, MA1 (located in Addenda) for a partial listing of
land secured appraisal assignments completed.
ITEM 2
LIST OF ASSIGNED APPRAISERS
The appraisers to be involved in this assignment will be Bruce W. Hull, MA1 (principal) and Karen
S. Siino, MAI (associate). Bruce W. Hull will be the lead appraiser. Karen S. Siino will assist. A
resume for each is located in the Addenda of this proposal.
ITEM 3
SCOPE OF APPRAISAL SERVICES
The scope of appraisal services should value the subject property on an ownership basis. The
District appears to have residential lands as well as large mixed-use, industrial, residential
components. Because of the diverse land uses each need to be separated and valued. Because of the
size of these developments a Discounted Cash Flow Analysis will be considered for each ownership.
As part of the assignment, I would consider the Mello-Roos taxes (the tax rate being supplied to the
appraiser according to the RFP) and would attempt to utilize comparable market data that sold with
similar tax rates. If sufficient data is not available, I would attempt to estimate the impact of special
taxes based on market actions. Specifically, this would relate to the collection of comparable land
sales that may have different tax rates or have no special tax or assessment lien. A comparison (or
paired analysis) between sales with special tax lien and those without would be accomplished to
determine the impact of the special tax lien.
If no such data were available, then I would consider the special tax lien and discount the amount by
a present worth factor for a specified time to reflect a present worth estimate. The time and discount
would be based on (1) interviews with builders who have bought and developed lands with special
tax lien; and/or (2) typical time that a homeowner would occupy a home.
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Exhibit B
ITEM 4
PUBLIC AGENCY REFERENCES
Santa Margarita Water District - John Schatz, General Manager; (949) 459-6601
Jurupa Community Facilities District - Carole McGreevy, General Manager (909) 685-7434
City of Corona - Elray Konkel, Assistant City Manager; (909) 736-2376
City of Moreno Valley - Tom Breitkreuz, Special Districts; (909) 413-3130
ITEM 5
LIST OF COMPLETED APPRAISALS FOR
ASSESSMENT DISTRICTSlCOMMUNITY FACILITIES DISTRICTS
A list of Assessment Districts/Community Facilities District assignments is included in the Addenda
of this proposal. As noted several large scale residential communities have been performed
throughout Southern California. Recently, I have completed several CDF assignments for the Cities
of Oceanside and San Marcos, the Del Mar School District, and am currently working for the City of
San Diego.
ITEM 6
APPRAISAL FEE QUOTE
A not-to-exceed appraisal fee is estimated at Fifty Thousand Dollars ($50,000).
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