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12Ito South Miami IC•NaedcaCHy CITY OF SOUTH MIAMI 1 N OFFICE OF THE CITY MANAGER INTER - OFFICE MEMORANDUM 2001 The Honorable Mayor & Members of the City Commission Hector Mirabile, Subject: A Resolution of the Mayor and City Commission of the City of South Miami, Florida, relating to appraisal services; approving fees for American Appraisal in the amount of $15,600; charging account No. 001 - 1330 -513 -4510; and providing an effective date. Background: The City must comply with the standards established by Governmental Accounting Standards Board (GASB) 34 Fixed Asset Accounting and all subsequent pronouncements put forth by GASB or its successor organization. Furthermore, as per Florida Statute 274.02(2) the State of Florida requires that assets equal to or greater than $1,000 be inventoried and tracked. According to the City's Fiscal Year (FY) 2009 Comprehensive Annual Financial Report (CAFR) finding 2005 -4 Inventory Capital Assets, the auditors noted that the City did not perform a physical inventory of capital assets since 2003, when an outside consultant was hired to perform the inventory. During 2006, the City hired an independent consultant to perform a physical count of capital assets. However, during FY 2007 the input of this count into the City's fixed asset module remained pending due to significant discrepancies that the City's Central Services Division noted concerning reconciliation of this report with their own inventory list and general ledger; in essence leaving the City with no accurate list of inventories. As of this current fiscal year, the City recognized that the information from previous fiscal years is inaccurate and cannot be used to properly develop the required inventory and capital asset list. Furthermore, insurance premiums are a significant line item in the operating budget. An inherent benefit in having the appraisal completed is that the City will have documented support in the event of a partial or total loss. An independent, supportable insurance appraisal is critical to the expediting of claims with insurers. The real value is that the City will be paying the appropriate amount for insurance premiums. Below please find the proposals obtained by the City: Company Name Amount American Appraisals $15,600 Industrial Appraisal Company $17,480 AssetWORKS Appraisal $21,400 In addressing the auditors' findings, the City recommends awarding the project to American Appraisal, a qualified company with the lowest cost proposal. American Appraisal will be responsible for the tagging of all items and the classification of all capital assets in the correct and corresponding categories in accordance with the City's inventory and capital asset policy. Additionally, the company will be responsible for providing data in a compatible format for uploading into the OneSolution Accounting software. The funds for this project are allocated from the Liability Insurance Account located within the Human Resource Department and are the product of savings recognized by the City from its negotiations with Florida Municipal Insurance Trust and Preferred Government Insurance Trust. Below please find a breakdown of the actual savings amount. Description Budgeted Policy General Liability $125,570 $76,263 Property $162,290 $88,945 TOTAL $287,860 $165,208 Savings $122,652 Expense $15,600 Accounts 001 -1330 -513 -4510 with a current balance of $173,074. Attachments: • American Appraisal Proposal and Agreement • Industrial Appraisal Company Proposal • AssetWORKS Appraisal Proposal 1 RESOLUTION NO. 2 3 A Resolution of the Mayor and City Commission of the City of South 4 Miami, Florida, relating to appraisal services; approving fees for 5 American Appraisal in the amount of $15,600; charging account No. 6 001 - 1330 -513 -4510; and providing an effective date. 7 8 WHEREAS, the City is required to comply with Standard No. 34 of the Governmental 9 Accounting Standards Board (GASB) concerning Fixed Asset Accounting and all other 10 subsequent pronouncements put forth by GASB or its successor organization. Furthermore, as per 11 Florida Statute 274.02(2) the State of Florida requires that assets equal to or greater than $1,000 12 be inventoried and tracked; and, 13 14 WHEREAS, pursuant to the City's Fiscal Year (FY) 2009 Comprehensive Annual 15 Financial Report (CAFR), Finding 2005 -4 Inventory Capital Assets, the auditors reported that the 16 City had not performed a physical inventory of capital assets since 2003 when an outside 17 consultant was hired to perform the same. In 2006, the City hired an independent consultant to 18 perform a physical count of capital assets; however, input of this information into the City's fixed 19 asset module remained pending during FY 2007 due to the City's Central Services Division 20 reporting significant discrepancies in the reconciliation of the count reported and the inventory 21 list and general ledger on file. Currently, the City has no accurate list of inventories and, as of the 22 current fiscal year, the City determined that information from previous fiscal years is inadequate 23 for development of required inventory and capital asset list; and, 24 25 WHEREAS, insurance premiums are a significant line item in the operating budget and 26 that an inherent benefit in completing the appraisal is providing the City the documented support 27 necessary in the event of a partial or total loss. Additionally, an independent, supportable 28 insurance appraisal is critical for expediting claims with insurers with its real value being its 29 assurance that the City will neither pay too much nor too little; but, instead the City will pay the 30 appropriate amount for its insurance premiums; and, 31 32 WHEREAS, the City requested proposals for said appraisals and received the following 33 three (3) responses: American Appraisal for the amount of $15,600, Industrial Appraisal 34 Company for the amount of $17,480, and AssetWORKS Appraisal for the amount of $21,400; 35 and, 36 WHEREAS, in addressing the auditors' findings, the City recommends awarding this 37 project to American Appraisal, a qualified company with the lowest cost proposal. American 38 Appraisal will be responsible for the tagging of all items and the classification of all capital assets 39 pursuant to their correct and corresponding categories as per the City's inventory and capital asset 40 policy and will provide said data in a format compatible for upload into the OneSolution 41 Accounting software; and, 42 WHEREAS, the funds for accomplishing this project are being allocated from the 43 Liability Insurance Account located within the Human Resource Department and are the product 44 of savings recognized by the City from its negotiations with the Florida Municipal Insurance 45 Trust and the Preferred Government Insurance Trust. Said savings total an amount of $122,652 46 and consist of the difference between the total budgeted amount of $287,860 and the total policy 47 of $165,208 for both General Liability and Property. 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA: Section 1. That the City Commission approves and authorizes the payment fees for American Appraisal in the amount of $15,600 and charging Account No. 001- 1330 -513- 4510 with the current balance of $173,074. Section 2. This resolution shall take effect immediately upon approval. PASSED AND ADOPTED this day of 2011. ATTEST: CITY CLERK READ AND APPROVED AS TO FORM AND SUFFICIENCY: CITY ATTORNEY APPROVED: MAYOR Page 2 of 2 COMMISSION VOTE: Mayor Stoddard: Vice Mayor Newman: Commissioner Palmer: Commissioner Beasley: Commissioner Harris: American Appraisal Associates, Inc. 8833 Westmoreland Lake Drive, Cornelius, NC 28031 direct 704 439 2515 / mobile 704 953 9780 fax 704 439 0384 Leading I Thinking / Performing January 25, 2011 Mr. Alfredo Riverol, CPA Cr.FA Chief Financial Officer City of South Miami 6130 Sunset Drive South Miami, FL 33143 Dear Mr. Riverol: 'A American APPraisal American Appraisal Associates, Inc. will provide the City of South Miami ( "the City ") the consulting services described within this agreement ( "Agreement "). PURPOSE OF THE ENGAGEMENT The purpose of this engagement is to provide the City updated fixed asset accounting records for internal accounting control and financial reporting as of a current date, complying with the reporting requirements of Governmental Accounting Standards Board's (GASB) statement No. 34. ENGAGEMENT SCOPE We will inventory, reconcile, and report the historical cost of the City's identified fixed assets. Description of Identified Fixed Assets The identified fixed assets are located at various sites as identified by the City in the Property Schedule (Exhibit B). These asset classifications will be included in the engagement: 1) Land at $1 and above 2) Land improvements at $25,000 and above 3) Buildings at $50,000 and above 4) Machinery and equipment at a threshold of $5,000 for GASB 34 purposes 5) Infrastructure at $250,000 and above We understand the machinery and equipment is located at various locations throughout the South Miami area. Assets not identified above will be excluded from the engagement. Valuation / Transaction Consulting t Real Estate Advisory I Fixed Asset Management City of South Miami January 25, 2011 American Appraisal If requested, fixed assets not inventoried by us may be segregated and incorporated into our report based on information supplied by the City. We will work with the City during the engagement to further refine the scope of identified fixed assets to be included in the engagement, if applicable. Depending on the nature and extent of changes in the scope of the engagement we may need to revise our fee. Definition of Historical Cost Historical cost is defined by Generally Accepted Accounting Principles as the amount of cash, or its equivalent, paid to acquire an asset. Scope of Work We anticipate this engagement will include the following: Machinery and Equipment We will inspect the City's locations identified in the Property Schedule to inventory machinery and equipment with a unit cost over $5,000 and apply a barcode tag for GASB 34 purposes. We will also list and tag assets at $1,000 and above for property control purposes. Buildings We will inspect buildings that are included in the Property Schedule to identify and quantify construction components and measure and photograph the buildings. Land Improvements We will inspect and record data regarding the nature of land improvements including improved parking lots, signage, outdoor lighting, and fencing. Infrastructure We will compile data provided by the City related to infrastructure assets including asset classes, quantitative measures, descriptions, location, historical cost, and date of acquisition. Land We will compile data provided by the City related to land including parcel identification number, location, size, date of acquisition, and historical cost. TERMS AND CONDITIONS This Agreement is subject to and incorporates the Terms and Conditions attached as Exhibit A. Leading / Thinking / Performing 2 City of South Miami January 25, 2011 American Appraisal FEE The fee is $15,600, including expenses, plus the cost of bar code tags, which we will order on behalf of the City. Our fees will be invoiced as follows: * $4,680 upon authorization of the engagement Progress billing as time is charged and expenses are incurred This fee includes issuing the deliverables below and responding to customary questions from the City and its auditor or advisors. Additional fee will be required for an increase in engagement scope or involvement in subsequent reviews beyond the customary work effort. The City may cancel this engagement at any time and will only be obligated for fees and expenses incurred. Our fee is not contingent on our deliverable or any subsequent event related to it. This engagement will require cooperation, access, and timely receipt of requested information from management of the City. After this Agreement is signed and all requested information is received, we will begin our analyses and provide our final report within 6 weeks. The report will present our conclusions and related narrative discussion of the supporting analyses and assumptions, along with appropriate exhibits. Additional relevant information and analyses considered will be retained in our work files. Only the signed Client of Record, the City, is the Intended User of, and may rely on, the report. The City may disclose a copy of the report to its auditor or advisors. CONCLUSION We appreciate the opportunity to serve the City of South Miami. To authorize, please sign below and return the fully executed copy to Iflemming @american- appraisal.com. This Agreement shall remain valid for signature for 90 days. Please contact me at 704.439.2515 with any questions. Sincerely, Client of Record: City of South Miami - 2011 GASB 34 Study c 1 +� Lori C. Flemming Managing Director Leading /Thinking / Performing Signature: Name: Title: Date: City of South Miami January 25, 2011 EXHIBIT A — TERMS AND CONDITIONS American Appraisal Entire Agreement -This is the entire Agreement between American Appraisal and the City and supersedes any prior oral or written agreements, and may only be modified in writing. Any purchase order covering this engagement is only for the City's internal needs and shall not modify this Agreement. Client of Record and limited Reliance - Only the signed Client of Record, the City, is the Intended User of, and may rely on, American Appraisal's report. The City may not substitute this reliance for its own due diligence. The City may disclose a complete copy of our report to its auditor, tax, or legal advisors. However, no third party shall have the right of reliance on the report, and neither receipt nor possession of the report by any third party shall create any express or implied third -party beneficiary rights. Confidentiality - American Appraisal shall maintain the confidentiality of the City's information and will not disclose or use it for any purpose other than the City's engagement. This excludes information (1) available to the public, (ii) already in American Appraisal's possession, or (iii) from a party having no confidentiality obligation to the City. American Appraisal may include the City's name and logo in its client list, with proper reference. Engagement limits - American Appraisal's report may only be used for the specific purpose and premise of value stated in this Agreement and the report, and may not be referenced in any SEC filing without American Appraisal's prior written consent. Independent Contractor - American Appraisal shall perform as an independent contractor, with no authority to bind or obligate the City in any way, and reserves the right to use subcontractors. Information Provided bythe City - American Appraisal will not independently verify information provided by the City, its advisors, or third parties acting at the City's direction. American Appraisal will assume and rely on the accuracy and completeness of all such information. Retention - All files, documents, and work papers developed during the engagement will be retained for five years. During this retention period, the City shall have full access to these documents, subject only to reasonable notification. If lawfully compelled to disclose any documents, American Appraisal will provide the City written notice so that it may seek a protective remedy, if applicable. Work papers for engagements canceled or abandoned prior to producing a final report will be destroyed. Indemnification - American Appraisal shall indemnify the City for losses and reasonable attorneys' fees associated with any bodily injury or property damage caused by American Appraisal's personnel or representatives in connection with this engagement, except to the extent caused by the City's negligence or misconduct. American Appraisal personnel will comply with all safety instructions. The City shall indemnify American Appraisal for all reasonable attorneys' fees that American Appraisal incurs as a result of becoming part of, or named in, an administrative or legal dispute in connection with this engagement, except to the extent caused by American Appraisal's negligence or misconduct. The City shall have the right to approve American Appraisal's counsel in any such proceeding. Environmental Policy - American Appraisal will not investigate, nor assume responsibility for, the existence or impact of any contamination or hazardous substance related to property or assets associated with this engagement. Governing law - This Agreement is governed by the laws of the City's state as addressed above. Leading / Thinking / Performing City of South Miami January 25, 2011 S 76�yC7 Property Schedute Agreement Period: 10101/2010 through 10101 /2011 JeY a d Agreement No,: PK FL1 0132021 10 -01 A6ancK Brown it 6rorm,. inc. UnitN Dex pvcn Addrem Year Built Consu Type ER.TDate Tenn Dato _ Buildingvalue coOtantsvalue Total lmured VMue Roof Shape Roar Pitch Root Gaming toverogeoplaced Root Yr Bit W1 Auto7Mpeaw Station 5907 S.W. 70th Street SOUTH MIAMI, rL 33143 - j'ri -� c -. 10!01 /3010 __�..,.. 10 /Oi /z011 ,547, ._...._................._. $ $44,0 002 AA tteatl iteK ten er 6121 SW 68TH ST$M1NL SOUTH MIAMI, FL 3314; 10/0112010 10/01 /2011 ...?`14'�. _�__✓^• 55,48 $447,48 W3 Pi s ate u dIus 4795 S.W. 75th Avenue SOUTH MINK, FL 33143 t$i ='FN "• 10101!2010 }0/01!2011 $t97 +W_ .__.._.... $7,31 j204;318 004 TORAGEf P00 OFF14 4795&W.7 5th AVenue SOUTH MIAMI, FL n143 ._.�3 -.�.. f0 /Ot /2010 10/01 /2011 $54`u_, .. u-- "_____._. S 454 +0 005 S Wvrmlawg 4793S.W.75NAVenue SOUTH MIAMI, PL 33143 i0i'Pr�ame 10/01/2010 ""- - - - - -• 10!01 /2011 $103, ------ - - - -__ m 5 SW3,50 006 TffVTXKZE 47955.W.75thAveaue SOUTH MtA ,FL 33143 iti`%4Nt- 10/01/2010 _-- _...._....._.._ 10/01!2011 .............__. ..$454,500 SD $ASM1,SD 007 —u 0 r SOUTH MIAMI, rAvenue SOUTH MIAMI, FL 33143 l "i6 " =JAi ... 10101/201 10 /ml20tp '000 ,2ti7 $122,2fi7 We 4795 S.W. nth Avenue SOUTH MAW, FL 33143 .-.•. i {�,'. .....7 101012010 0 /01 2011 Simile ..•....._ $0 $16,9 tl09 DANTEB. F PARR / TE RED g0A0 SOUTH MIAMI, h133143 10/01/2010 ___.__... 10!01 /2077 $1,106,000 ._ ..... ..........._......,....._...... S $1,1MO 010 B F C AR GAZE 5 86DO RED ROAD SWTH MIMN, FL 33141 .....1.32 _.,H ... 10/0112014 ..................... 10/01/2011 565, .._..._....._....__....�.._..._ 565,0 ON n. < rvrrnrrr om �.� HAT UT S RTS 86DOREDROAD SOUTH MIAMI. FL 33143 10/01/2010 —.- ••---- 70!01 , S123,5W ....._.___._......_.___. 5 5123. Leading / Thinking / Performing City of South Miami January 25, 2011 ftefr red Property Schedule Agreement Period: 10/01/2010 through 10/01/2011 � m City of South Miami Agreement No,: PA PL7 013202110-01 Agency: grown & Grown, Inc. Unftk Oes<riVtion Address Year, Built Const7ype FX. Date Term Date _ Unit ding Value4 �Con}�n[sYxiue Total Insured Valua —_ Roof $hape Roof Pitch Roof Covering Covering Replaced Roof Yr Oit 012 A 0 'ASC LPARK/ LAY I l .,.,....«,.,o.n ...� 8606 RED ROAD SOUTH MIAMI, FL 33143 >nT Mme 10/01l207q _..._____ 10107!2011 5164, _......_........_._..,..._. _.__. .. 5 $1D4, 013 ANTE B Fp$CEL OM I ONA 8600 RED ROAD SOUTH MIAMI, FL 83143 __.Y31 =Flt... 1010112 1 0 .__...__........ 16101/2011 $63, ..._.....,..._._._._.___.,._... $ $63, 014 A. L1 1 4 TS It CLOSED) 6445 SW 81 STREET SOUTH MIAMI, FL 33140. ,.1.•'P"ame 10101/2010 -- .� -- 10/0112011 $31, .---- ....- ._._,� _ S S31, OSO NO $WIN SETS 64495w &t STREET SOUTH MIAMI, FL 33143 'it973M' 10/012610 y0 /O1RM1 $]0,]69 ...,._._..:_..._:.__ -.._._ S. $70,1 PALMER. PARR -FIELD SfriRAGE8 I ON G 1010712010 $45,5 016 6445 SW 81 STREET SOUTH MIAMI, FL 33143 - -1T'2T�11 C - 10/07/2011 _ .... .... .......___..___._,.., $0 $45,5 017 FALMER PARK FOOTBALL STU G 6701 SW 67TH AVENUE SOUTH MIAM6 FL 33143 -. ...___._....,»,,..._. 10101/2010 10/01/2011 $75, ........_...,....._._ ,_._...._. 545, $120,73 P 10!01!2010 $33, 016 67015W 67 r AVENUE SOUTH MIAMI, FL 33143 "'"j'1$' -JT�S" 10!6112011 ..,.__,____ „.- -� $19,5 - $52,50 TAUM A 10/01/2010 $109,2 019 6701SW67TH AVENUE 33143 $t1UTH MIAMI. FL 33143 +i'7Tf i0 /6112011 -- — _._.._...._.$9t1M17 $118,35 M —MMAYGROUN 5 1010112010 526, 020 6701 Set 67TH AVENUE SOUTH MIAMI, FL 33143 "{'. i - tame ”" —� 70/07/2071 '.':""__,..._ .......... ,. $26,000 _ — 021 SOOT SW 67TH AVENUE SOUTH MIAMI, FL 33143 _ -. .90101/2070 �"i32 -NC- 10/01/2011 .^^4..VY_.Y_ 53,720 _...._._ ... _..._ S 022 P 308Q GRILLS 6701 SW 67TH AVENUE SOUTH MIAMI, F433143 _t i2 %RA� 1010112010 _.._._ —_ ttl /D7 /2011 $ _.. __.__..._..__....._....,_,..... $ $7 Leading / Thinking / Performing 6 City of South Miami January 25, 2011 °� erred Property Schedule Agreement Period: 70/01/2010 through 10/01/2011 csxuseru City of South mam ;ttuRrrl,ra31 Agreement No„ PK FL10132021 10 -01 Agency: Brown fs Brawn, Inc- Untt g Description Address Year Built Cdost Type Eff. Date 'refm Date Building Value .� �Contentz Va�ue'� Total lneared Value Roof Shape Roof Pttch Roof Covedng Covering Repixed Roof Yr BIC 023 PALMER PARR 11200 Pi OF C 6701 SW 67tH AVEMIE. SOUTH MIAMI, FL 33143 _'TS2 -NC ib /Ot/20t0 10ltlt /2011 513,OW ..............:._ 50 513, 024 PAUIER PA -i 1 I F CE 6701 SW 67TH AVENUE. SOUTH MIAMI, FL 33143 __f.,.AC- 10/01/2010 m_..... _.....-- iD101/2071 4$84,6W $16,9 025 A X R D 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33743 18/01/2019 026 A P - 5. 8 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 .. -... 117/ - 10/01/2010 ...__... 10/01/2017 $54,000 ____..._. ........______ ........... _ $ $SA' 027 bw-ICT/MoLla SUBSTATION 690D SW 59TH PLACE SOUTH MIAMI, FL 33143 � y 10/01/2010 — 10/4112011 $ -- ^•_ ^••• W $28,665 S28166 028 BREWER PAM -ZMCIR L 0 6306 SW 56711 STREET SOUTH MIAMI, FL 33143 ._.___. t197frTT� 10/01 /2010 ..._....._._....._.. id/8I/2071 $28,665 _.......___.- :.._,.�_.......». $0 $28,665 029 B ER PARK -1! 6300 SW 56TH STREET SOUTH MIAMI, Fl. ___.. 114'_x._. 10/01(2010 _.,.» ...:..::........ 10/01/2011 $73,006 ..._...,._....___.:.._._._._.._ $0 $t3, 030 PA -P YG OUND Mo SWN6 SET 6300 SW SETH STREET- SOUTH MIAMI, FL 33143 i32` -"Ni' 10101/2010 idf01 /X011...._.___._...__._..____.$ 534,115 $3q,125 031 BREWER PARK,4 BENCHES 63005W 56TH STREET SOUTH MIAMI, FL 33143 1 -NF 18/01/2010 —.•-___.......,.. 10/07/2071 $i,S _.._,,.....,_.__....._.._...... $0 $1,5 032 HEWS P SOUTH SETH STREET SOUTH MtNAi, fL 33143 "'i'S2 ="N2` 70/0112010 •1010112079 5520 .. ...... ......._. -• _�,._. _.._ . $ 552 033 BREWER PARK -2T NIS O R15 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 'tt�:. 10101/2010 70(01 /2011•• ^�� __S $52, Leading / Thinking / Performing 7 City of South Miami January 25, 2011 American Appraisal fte e wed ewe Property5chedute Agreement Period: 10/01/2010 through 10/01/2011 =0156 Gty of South Mramr Agreement No.: PK FL1 0132021 10.01 / Agency: Brown &Brown, Inc. unit# Oescripfion Address YONV Built __ ................._.....___. Comt Type Eff. Oafe Tarm Date DWIdintiVa u¢ ._,....___...:_._..__.,_._._. Contanis Value. Total lVUUrcdYaluu Roof Shape Roof Pitch Roof Covering Covadng Replaced Reef Yr Bit 034 BREWER PARK, 46OFT OF 101 r HIGH FENCE 6300 SW 56TH STREET SOUTH MIAMI, 1133143 10/01/2010 10/01/2011 $7, •_. „_.. __....._.. _S.. "' "' $I' 035 NEWER PARK- 36UP 1 OF 6F I HIGHTENC-if- 63005W 56TH STREET SOUTH MiAM9, FL33143 _ v2 -H� 10!01/2010 10/09/2051 ....__._...._....__....._.._.._ 036 ' 6300 SW 56TH STREET' SOUTH MIAMI, FL 33143 — 7�aZ -t7C 10/0172010 1010112011- 51,5 -_— _..T._._._$ $i,S 037 M R A l t G 6701 SW 56 PLACE SOUTH MIAMI,. FL 33143 10/01/2010 $360,C00 5360,00 ' 038 110PE BUTLER ACT VITY CENTER 6701 SW 58 PLACE.— SOUTH MIAMI, FL 33143 - 10/01/2011 __.___ 10/01/2011 $228500 ______...__._. _...$ $220,500 039 0FF1 CrFP OLTC'S U B STAT ION 5975 SUNSET DRIVE SOUTH MIAMI, FL 33143 31 —M 10/01/2010 7 0101 / 2 011 _.;.r......».__...�_..»..,.... S32,500 $32,8 O60 CITY HALL I POLICE 61305UNSEY DRIVE SOUTH MIAMI, H. 33143 "�f.,l --L. -. 10101/2014 —__........._... 10101 /2011 $3,470,00 __._.__..__...._._�.... $395,472 $3,865,472 041 6130 SUNSET DRIVE SOUTHMIAML FL 33143 — - 1$9 -UM 10101!2010 10101112011 $438, -------- -- ° - -- $56,706 $494,706 042 N AM M At CENTER/ A5 5800 SW 66 STREET SOUTH MIAMI, FL 33143 ...f.- �70lOI72011 10/0112010 $4,160, ... ._._..___._........_.,..,_..._. 5390x000 $4,550,0 043 UISW PARKY POOL MUDSWIA STREET SOUI"H WA611, FL 33143 10 7 01 /201 .._.._..— 10/01(2011 $195,000 - 5 ;044 l J WILLI / GAZNO GA 72ZOSW61STCOURT SOUTH MIAMI, FL 33143 i8t -frame 10101!2010 --- __._.. 1070912017 5149 _._...._.___...:_— ._.._.. $ $145. Leading / Thinking / Performing City of South Miami January 25, 2011 American Appraisal 0 Property Schedule Agreement Period: 1010112010 through 10!0172011 p& Clty of South Miamt Agreement No.: PK FL1 0132021 10 01 Agenct:. Brown a grown, Inc. Unit# Description Address Year Built C.,u Type Eff. Date Term Date Building Value Contents V.I. »� Total Insured Value Roof Shape Raaf Pitch Roof CavcF1 Covering Replaced Root Yr Bit 045 MARSHAL. WILLIAMSON PARK / GAZEBO 6121 SW 68 STREET SOUTH MIAMI, FL 33143 TA.6v, 10/01/2070 9tl/01 /2011 $65" 041 MRS HALL LL NP K PLOY RO NO ANDS VING 6121SAV68STREET SOUTH MIAMI, FL 33t43 1$2 -NNC - logun0to —'" f 0/0112071 $32,50 _r.____...._... $32'5 047 RS A. f C E8 6121 SW 68 STREET 1$$ -NC 7 .. ..._---- ..----- ,-_._____�._. —_. SOUTH MINA ;, PL331A3- 10!6112010 0!0;!2011 048 AAHSoALL vaLILAM5ON PARK 14 FILM tMLLES 61215W68 STREET SOUTH MIAMI, R -33143 ....T.ST ...�.. 010112010 ..— _..._....._. 10/0112011 $3,12 .._ ....._.._..._...___....___..... $ S3,12 049 At PAR /RESIDENCE 7800 SW 59TH AVENUE SOUTH MIAMI, FL 33143 .....1 {9_�M _ 10!01 /2010 _: ___ 10!0112075 $TS$OW _ _._.__�.,... _ SO 5253, 050 AMERI AR I RICT 6820SW64AVENUE.' SOWN MIAMI, FL 33143 —11-62 lotol I201D - - -_ 10/01/2011 $7,00 ..__..._.,..,.�_.__....._._,... $ $7,00 051 G gcnD P 6609 SW MIAMI, REST SOUTH MIAMy FL 33143 'Td1 :";Tame 10/0112010 10107720;; $130,ODD $ $t3q 052 RKIt RAGE SW S8TH COURT a SW 73RD STREET $OU7F7 MIAMI, PC 33143 152 � NC 10/01/2oal 70!0112071 '— '"' —"""" S5,000,00 TOt81: $17,899,194 $1,049,792 $18,948,986 Leading /Thinking / Performing 9 Proposal to Provide GASB 34 Appraisal Services January 17, 2011 Submitted by Lori Flemming Managing Director, Southeast American Appraisal 8833 Westmoreland Lake Drive Cornelius, NC 28031 tel 704.439.2515 / fax 704.439.0384 Iflemming@american-appraisal.com American Appraisal Associates, Inc. 8833 Westmoreland Lake Drive, Cornelius, NC 28031 direct 704 439 2515 / mobile 704 953 9780 tax 704 439 0384 46L American Leading lThtnking t Performing Appraisal January 17, 2011 Mr. Alfredo Riverol, CPA Cr.FA Chief Financial Officer City of South Miami 6130 Sunset Drive South Miami, FL 33143 Re: GASB 34 Appraisal Services Dear Mr. Riverol: Based upon our recent conversation, American Appraisal ( "American Appraisal ") is pleased to provide this proposal for professional valuation consulting services. Our proposal includes a description and explanation of the scope of the appraisal, our methodology, the deliverables, project timing and professional fees along with our professional qualifications. SCOPE OF SERVICE Nature of Service The purpose of our work will be to develop a comprehensive report covering the fixed assets of The City of South Miami (the "City ") for assistance in complying with the reporting requirements of Governmental Accounting Standards Board's (GASB) Statement No. 34, develop an inventory for property control purposes and develop accurate property insurance values. Project Inclusions The fixed assets to be included in this engagement are located in various City -owned facility sites and structures, as reported by the City. The facilities include Capital Assets which comprise typical municipal occupancies (administration, education, police, fire, maintenance, parks, etc.) Also included are the City's infrastructure assets comprised of roads, lighting, signs, sidewalks, bridges, traffic control devices, and the storm water management system. We were advised that the City does not have Enterprise Funds such as water and wastewater treatment plants, and so will not be included within the scope of American Appraisal's investigation. General assets included in the development of the comprehensive fixed asset model include: • Buildings at $50,000 and above • Land Improvements at $25,000 and above • Land at $1 and above • Infrastructure at $250,000 and above Leading 1 Thinking / Performing 2 City of South Miami January 17 , 2011 ® Moveable Equipment at a capitalization threshold of $5,000 for GASB 34 purposes; inventory and barcode tag assets at $1,000 and above for property management and control Project Exclusions Excluded from the services provided by this proposal are: • Enterprise Funds • Assets Below the Capitalization Thresholds • Leased Equipment - Operating • Assets in or at locations that are considered as not easily accessible or identified locations within the proposal • Personal Property of Employees or Others • Vehicles • Supplies /Expendable Inventories • Historical Treasures When equipment is not easily accessible, we will consult with you to gather the information, or the assistance, needed to perform American Appraisal's inventory. If desired, library books, radios, computer software, fine arts and historical treasures, and licensed vehicles can also be incorporated into the record based on information supplied by the City. This information must be provided to American Appraisal during the initial field inspection to be included in the reports. We will not inspect, tag or value any of the special assets identified by the City. EFFECTIVE DATE OF THE APPRAISAL The effective or "as of" date of the appraisal for accounting purposes will be as of a current date on this project, unless otherwise advised by the City. For insurance purposes the effective or "as of" date will be the last day of field work. PREMISE OF VALUE The premises of value, as well as certain related valuation terms, are defined as follows: Cost of Reproduction New (For Insurance Purposes Only) - The amount required to reproduce a duplicate or a replica of the entire property at one time in like kind and materials in accordance with current market prices for materials, labor, and manufactured equipment, contractors' overhead and profit, and fees, but without provision for overtime, bonuses for labor, or premiums for material or equipment. In insurance industry terminology, cost of reproduction new, as defined above, is synonymous with the insurance industry phrase, "replacement cost." Leading / Thinking / Performing 2 City of South Miami January 17 , 2011 American Appraisal Historical Cost - The actual cost of a property to the present owner - the cost as of the date the property was first constructed or originally installed. When historical cost is provided in a usable format, it will be included. When this information is not readily available, American Appraisal will estimate the original cost by applying reverse inflation indices to the cost of reproduction new. • Estimated Original Cost - The estimated original cost of the property in accordance with costs as of the actual or estimated date the property was first constructed, originally installed, or purchased. • Direct Costing - Additional research into the historical cost documented as provided by the City in a readily available and useable format, in the City's property records for the original construction, improvements and betterments. • Normal Costing - Estimated cost based on the cost of reproduction new indexed by a reciprocal factor of the price increase from the appraisal date to the actual or estimated acquisition date. • Acquisition Date - When readily available, we will use the actual acquisition date of the property. In the absence of readily available information, the acquisition date will be estimated based upon American Appraisal's knowledge of the property type and its condition. • Estimated Life - An estimate will be made of the useful life of each unit - controlled asset and each group - controlled asset. The matter of historical lifing practice versus estimated actual lives will be discussed during the planning meeting and an acceptable approach will be developed. Accumulated Depreciation - Will be based on the asset's cost, acquisition date and the estimated useful life utilizing the straight -line basis of depreciation. Useful lives will be based on information provided by the City or industry standards. • Insurable Value (For Insurance Purposes Only) - Cost of reproduction new (replacement cost) as of the appraisal date will be used as a basis for insurable values for all controlled property. VALUATION APPROACH Our analysis will consider the three basic approaches to value: income, market and cost. In accordance with the USPAP guidelines, all basic approaches to value will be considered; however, because the purpose of our investigation will be to express an opinion on the existence and the historical cost and accumulated depreciation of certain fixed assets for financial reporting purposes, it will be considered appropriate to rely solely on the cost approach. METHODOLOGY Buildings Buildings at $50,000 and above will be included based on historical information supplied by the City (Schedule of Properties in Exhibit B). Requested information includes date and cost of original Leading /Thinking / Performing City of South Miami January 17 , 2011 �•r construction, as well as any significant renovations and additions or improvements to owned buildings. The methodologies to be utilized to assign a cost and depreciation for each building will be Direct and Normal Costing, as defined within the costing methodology section of this proposal. Moveable Equipment A detailed inventory of moveable equipment will include a physical inspection and barcode tagging of all owned equipment with a unit cost in excess of $5,000 for GASB 34 purposes, and $1,000 for property management and control purposes. Floor plans will be required to assist the inventory team in assuring that no areas are missed. Assets less than $1,000 will be excluded. It is important to note that we will not be performing a detailed reconciliation to the City's existing fixed asset ledger. Land Improvements While inspecting site structures, we will also conduct an inventory of site /land improvements and miscellaneous structures at $25,000 and above. Pertinent data regarding assets in these categories, i.e. paving, lighting, fencing, park improvements, below grade data communication systems, etc, will be recorded to permit assignment of value. Land Land will be included based on the data provided to us by the City. As a part of this engagement, we will conduct a cursory review of the data. If the data is not available, or sufficient, for an additional fee of $125 per parcel, American Appraisal will research the City records to identify the City's owned land assets. In gathering this data, we will: • Research the County Assessor's databases and files to identify land owned by the City; • Utilize data gathered from the County Assessor's office to research deed information; • Compile a data report indicating, as available, the following items: • Parcel Number • Date of Sale • Parcel Size • Estimated Acquisition Price • Street Address when available Upon completion of the identification process we will meet with you and your external auditors to discuss American Appraisal's findings. At that time, we will be prepared to discuss the materiality of developing the historical costs for parcels for which acquisition costs were unavailable. Leading / Thinking / Performing 4 City of South Miami January 17 , 2011 American Appraisal Infrastructure and Related Rights -of -Way American Appraisal will include infrastructure assets at $250,000 and above in the GASB 34 report. We will rely on the City to provide detailed information as follows: • Asset Classes (roads, bridges, sidewalks, easements /ROW, traffic control, storm water„ etc.) • Quantitative (lane miles, square feet, etc.) • Description of the Asset • Locational Information • Historical Cost • Date of Acquisition RESPONSIBILITIES The City's Responsibilities • Confirm the list of all property to be included in the assignment, along with physical location /street address, on -site property contact / department liaison, and telephone number. • Identify a representative of the City to serve as the primary on -site contact and liaison between the City and American Appraisal. • Provide copies of any prior fixed asset listings, in hard copy and electronic media. • Provide complete and open access to all designated areas including security escorts for security- sensitive areas. American Appraisal's Responsibilities • Develop a project work plan prior to commencement of our field investigations. • Conduct an inventory of the assets, collecting the following data elements: • Asset Location • Building Identification • Department Number • Asset Number • Asset Account Code • Asset Classification Code • Function Code • Quantity • Asset Description • Prepare final reports. Leading / Thinking / Performing 5 City of South Miami January 17 , 2011 American Appraisal ® Provide status reports as to our progress, or challenges, incurred throughout the study from start to delivery. PROJECT TEAM Professionals assigned to this project will involve several levels of management: executive review, project manager, contract manager, and the appraisal staff: The project staff will include David Jones, Senior Manager, as the Project Executive. Lori Flemming, Managing Director, will be Contract Manager and your go -to person for any issues or concerns. These professional staff members will have overall responsibility and are key personnel to the successful completion of the assignment. Specific appraisal staff assignments may vary depending upon current availability at the time of the authorization to proceed with this project. An outline of American Appraisal's Qualifications is included as Exhibit A. DELIVERABLES The City will receive a full complement of reports with one hard copy, a .PDF and a datafile that will seamlessly import into SunGard, your financial accounting software system. Summary Appraisal Report - American Appraisal will provide the City with a Summary Appraisal Report, in accordance with the reporting requirements set forth by the Uniform Standards of Professional Appraisal Practice ( "USPAP "). The report will present only summary discussions of the data, reasoning, and analyses used in the appraisal process to develop American Appraisal's opinion of value. Supporting documentation concerningthe data, reasoning, and analyses will be retained as a part of the work papers. American Appraisal is not responsible for unauthorized use of its report. Fixed Asset Accounting Summary Report - The standard Fixed Asset Accounting Summary Report displays description of fields being summarized, original cost, accumulated depreciation, net book value, annual depreciation, projected provision, by account. Fixed Asset Accounting Ledger Report - The Fixed Asset Accounting Ledger Report will include all capital assets with a unit cost in excess of the City's capitalization threshold of $1,000 and the related historical cost/estimated original cost, accumulated depreciation, and current depreciation data for financial reporting purposes. This information will be sorted and reported upon by account. Fixed Asset Additions Report - The Fixed Asset Additions Report will include moveable equipment assets inventoried and bar code tagged during field work, but not contained in the City's existing records. American Appraisal assumes these items represent moveable equipment assets that were purchased since the last physical inventory. Fixed Asset Retirements Report - The Fixed Asset Retirements Report will include moveable equipment assets contained in the City's existing records, but not found during the field work. American Appraisal assumes these items represent moveable equipment assets that were retired since the last physical inventory. However, it should be noted that the items in the Unrecorded Leading / Thinking / Performing 6 City of South Miami January 17 , 2011 American Appraisal Retirements Report could also be included in the Unrecorded Additions Report if their bar code tag has been removed since the last physical inventory. It should be noted that the scope of American Appraisal's engagement does not include any reconciliation procedures. Property Insurance - Statement of Insurable Values - The standard Property Insurance - Statement of Insurable Values Report displays description of fields being summarized, and cost of reproduction new. OPTIONAL SERVICES Annual Updating — Property Record Outsourcing Service In order to protect the initial investment in the inventory and appraisal, the City may wish to employ American Appraisal's Property Record Outsourcing Service (PROS). There are two options to consider: Desktop PROS and On -site PROS. For the desktop service the City supplies property changes such as additions, deletions, retirements, transfers, etc to American Appraisal on an annual basis, usually by electronic transfer. American Appraisal's full time PROS staff then provides the City with a fully- updated report within approximately 45 days of receipt of the changes from the City. On- site PROS would entail an American Appraisal staff member revisiting the City in 2012 and years to come, to conduct a verification inventory - we would re- inventory the assets, identifying and tagging new assets found and describing prior assets not found. r- iR[L�L? Upon receipt of your signed authorization, American Appraisal will work closely with the City to establish project start, field work and report delivery schedules to meet your reporting requirements. FEES The scope of our work and resultant fee estimate reflects our expectations regarding the complexity of the valuation, as well as the information that The City of South Miami will make available to us. Our fee for this engagement is as follows, including expenses: Primary Service Capital Asset Appraisal of General and Infrastructure $15,600 Assets in accordance with the City's capitalization policies; includes inventory of Assets at $1,000 and above for property management and control purposes. (Approximately $200042400 of the above fee is related to providing insurable values). Optional Services Property Records Outsourcing Service (Desktop) $1,600 /year Property Records Outsourcing Service (On -Site) $5,800 /year Leading / Thinking / Performing City of South Miami January 17 , 2011 a►• The fee quotation is based on our current understanding of your requirements and the Engagement scope. The City and American Appraisal will mutually revise the fee to reflect any changes in services. Fees do not include any applicable excise, sales, use or value added taxes. All such taxes shall be the responsibility of the City and will be added to the City's invoice if American Appraisal pays these taxes on the City's behalf. American Appraisal's compensation is not contingent in any way upon its opinions or conclusions, or upon any subsequent event related to those opinions or conclusions. NEXT STEPS We will require a fully executed Letter of Engagement between American Appraisal and the City to begin work on our appraisal. Should the services as described in this proposal correctly reflect your understanding approval of the project, please contact Lori Flemming at 704.439.2515 and we will issue a Letter of Engagement authorizing American Appraisal to proceed. Respectfully submitted, J Lori Flemming Managing Director, Fixed Asset Management & Insurance Solutions LCF /jf Leading / Thinking / Performing A American Appraisal E hl i b t A American Appraisal's Qualifications Leading / Thinking / Performing Exhibit A OUR QUALIFICATIONS American Appraisal is a unique valuation resource. Our 750 consultants are located in major financial cities throughout Asia, Europe and North America. Valuation and advisory services are our only business. We are employee owned, and we have been since 1896. For you, that means greater objectivity. Our reputation for impartiality is why our valuations are accepted by the world's most discerning regulatory, judicial and taxing authorities. Financial institutions, boards of directors and stockholders have looked to us for more than 110 years. American Appraisal provides expertise in all classifications of tangible and intangible assets. Our portfolio of services focuses on four key competencies: • Valuation • Transaction Consulting • Real Estate Advisory Fixed Asset Management We have been in the valuation business for more than 110 years, and it is tempting to say that we have experience in all market sectors and all classifications of tangible and intangible assets. Our experience is both deep and broad, reflecting the demands of the international marketplace. Globally, our recent experience encompasses the following market sectors: • Basic Materials • Consumer Products • Educational Institutions • Financial Services • Government & Public Sector • HealthCare • Industrial Products • Services • Technology Our consultants' experience in these sectors ensures familiarity with your industry's particular challenges and cycles. Your staff will not need to bring us up to speed. We will make sure that you benefit from our years of experience. We are proud to have been instrumental in creating the standards by which valuations are judged. Throughout our history, our consultants have occupied the most senior positions within the Appraisal Foundation, Appraisal Issues Task Force, Appraisal Standards Board and the American Society of Appraisers. The City of South Miami has our guarantee of a professional, independent and impartial valuation. Leading / Thinking / Performing Exhibit jt B 'zxhibm E, Property List Leading / Thinking / Performing Exhibit 8 American Appraisal F7& w Property Schedule Agreement Period: 10701/2010 through 10/0112011 wall city of3duth rdlsu Agreement No,: PK rL1 013202110-01 Agency: Brown aSuave, Inc. Unit R R¢sctiptien Address Yeat Bull, ..ConstYyPa Eff. Date Term Date Building Value- 4on[ents Vague �� Total imured Value Roof Shape Roof Pitch Roof Covering Covedng Replaced Roof Yr Blt 001 Aut01nspection Steven 59075.W.70th Street SOUTH MIAMI, 1133143 "19fi -NJ4c 10/01/201 -__.______ 14!0172011 SW,D00 __- ....__._.,,_.._.........,._. $ 544,0 002 CPA xatl start center 6121 S1V 68TH 5T SOUTH MIAMI, T433143 10/01/2010 1010112011 $442,0D0 __ " " "- "'" -'"" 5417,48 003 Pu is a 5 ce u dn8 4795 S.W. 75th Avenue SOUTH MIAMI, FL 33143 tY'f'RIF 10/01/2010 --- 10101!2011 $147,040 •- ••�- ••^' ^,- ^.. " ° ^'. "•••..^ $7,318 5204,318 W4 ORA / . P L 4795 S.W.. 75th Avenue SOUTH MIAMI, FL 33/43 1s�TFik 10/01/2010 10/01/2019 S54,0W ........_____._....__._...... SO SSa,o4 OD5 SOUDWASTEBUDG 4795 S.W. 75th Avenue SOUTH MIAMI, FL 33143 9P1- =Fiamme 10/0112010 ""` itl/01/2011 $103,500 SiO3� 006 Cii'Y RAGE 4795 S.W. 75th Avenue SOUTH MIAMI, FL 33143 10 /01/2010 .,- $�,"� $454,500 LITYS REPAIRS 4795 S.W, 75th avenue SOUTH MIAMI, 1133143 itl /01 /2070 10/01/2011 $63,000 _ 559,26 511.2,26 [008 RA LDG 4795 S.W. 759h Avenue SOUTH MIAMI, FL33143 ^- jTY-; -J�q "- 10/01/2010 ^^4 TO/0172011 $1B,9tq -'-°'"'°"`"� �50 518,9 OD9 DANTE S. PASCELL PARK /T NI RO M 86P6 RED ROAD SOUTH MIAMI, Fl. 33143 ""t3} FR 10/01/2010 10/0912011 $1,106,00 �- S $1,106,0 010 DAN! PS GLL A - 860OREDROAD SOUTH MIAMI, FL 33143 ..j. -. ._. 10/01/2010 10/0972011 $65.00 .. ....,....._...._____._.... -__.. $ 565,0 Ott ANTEOi ARK -6 AIR RU TENNIS LOUR' a<..w. �.. «M...r ..........,. 8600 RED ROAD SOUTH MIAMI, FL33143 10/01 /2090 .. 107P712011 $123,$ _.r..�._........_._..._ S $123.50 iSiN� Leading / Thinking / Performing Exhibit B e erred Property Schedule Agreement Period: 10/01/2010 through 10 /01/2011 we'LatA City 0 SOut Miami NWIM arcs Agreement No.: PK FL.1 0132021 10.01 Agency; BRNM G, Brown, Inc. Unit A PesTiPLlon Addrm Yenr Bulit Convt Type Ef {, Oaf¢ Term pate Btdlding vaiun v - Contemsvatue -� Totai lnsured Value Roof Shape ftoofPitch ftoofCov¢rtng Coveting Replaced Raof Yr BR 012 DANTE 8ASC LL PARK ! LAYGIiOU 0(56, .,., RED ,,,..,...r. 8600 RED ROAD SOUTH MIAMI, FL 33143 1100__ —__ 101 frame 10 /Ot /2010 _�___..___. 7010112M1 $104, 0111....- _....._...._._......__ T 504, 013 OANTEB FASCELL.CUMMUNN G 8606 RED ROAD SOUTHMIAMI, FL 33143 �1 -F�k 10/01/2010 10/9112011 563 S $63, 014 PA. A 1 CONT C DEDj 64455W 81 STREET SOUP4 MIAMI, FL 33143 0110. 1101._ i0T'Fiame 10/01/2014 _._:_....__ W /W12P7/ 531, _- ............___..._.._....:_.. S $31.0 qi5 1 GSET 6447 SW 61 RREEr SOUP# MIAMI, FL 33143 ___.�__.... 1193M 101011201 0 101;1 14101 /2011 $707 _.._-.. ..<......,...._..._..._._.,.... $70r769 016 PALMER ARK -FIELD STORAGE8 1 ING 6445 SW 81 STREET SOUTH MIAMI, Ft. 33143 — 1-f -rwE-' 10101/2010 idlO1f209/ -- ____._.__.__ _ S45, 017 MAIL TORO G0!6112090 6701 SW 67rH AVENUE SOUTH MIAMI, FL 33143 - "'114- 7M• - "�•-' 10109/2011 W .e STS, - 545,730 $720,73 018 P M 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 .m. b.- 10/01/2010 90/01/2671 533,000 252 019 US 6701 SV /67TH AVENUE SOUTH MIAMI, FL 33143 �'� 10/01/2010 - 70/6112017 $109,295 ---- - -• - -_ 4 $$147 $11$,352 020 P PARK AYGROUNP 6701 SVt 67TH AVENUE SOUTH MIAMI, FL 33143 "j'6- 'train0 10/01/2010 10107120Y1 - W6+ �__W._......_•� 526, 021 SOUTH MIAMI, AVENUE 50UTH MIAMI, FL 33143 '171'2 =NC" 10/07/2010 10/01 /2Ot1 .. . S 53,12 022 ALMERP /38MG 1 6701' SW 67TH AVENUE SOUTH MIAMI, H. 33143 —.;RC 10/01/2010 10!0/72611 $78 - •---- --- -•- ^ ° ^' ^- -'° 5 $7 Leading / Thinking / Performing Exhibit B P9�� Property Schedule Agreement Period; 10/01/2010 through 10/01/2011 caav+uwau C1ey0fSOUt M1aml k#URUR e Agreement No.: PK FLt 0132021 10 -01 Agency; Brown R Brown, Inc. unit # 0oscnptim Address Year Built Corrt 7Ypo Eff. Date Term Pate Building Vaiuo __ `Contents Value Total Insured Value Roof Shape Roof Pitch Roof Covering Covering Replaced Roof Yr BIG 023 PA(MER PARK l 1200 fT OF 5F C 4701 SW 67tH AVENUE SOUTH MIAMI, FL 33143 _ i3f -M1`rC 10/0112010 10/01 /20ii 553,0 ._.. __� ..................__........ 50 S13, 024 R PARK •1000 1 iFEN 6701 SW 67TH AVE14UE SOUTH MIAMI, FL 33143 '010' 12010 10/tl1 /2911 $16,9 025 R B D SOUTH MIAMI, FL 3314 SOUTH MIAMI, FL 33143 ffi1-' 1M 10/01/2010 fOfOi12011 S84,607 _....._ $64, 026 PALME A - BLDG 6701 SW 67TH AVENUE SOUTH MIAMI,FL33143 ._.1i4'7M 10/07/2010 ..__.___._.. 10t01/201i ------- ...._ -- ... ---- $54, 027 flC /POLICE SUBSTATION 6900 SW 59TH PLACE SOUTH MIAMI, FL 33143 —'i'1Y •.• 10/01/2010 10101!2011» $ __.�._ $28,665 $28,66 028 REWER PARR • 2 RACOPUKALL LOUR I S 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 "'tiff- 1""M't 10/01/2010 1010// TAN_... $28,66 ...._............,_,..$0 S28,665 029 EWER A9% _ I'll A5 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 /0Poi /2050 10/91/2971 $13,000 .__ 50 $13, 030 hRK - P Y NO AND SWING SET 6300 SW 56TH STREET' SOUTH MIAMI, FL 33143 "' f 52 • t`3'C 101011201p 1010, 1010, $34,175 $ $34,12 [031 B EYI RPARK- 45ENCN 6300 SW 5M STREET MIAMI, PC 33143 1SOUTH 10101/2010 R w -25 L 6300 S4V 56TH STREET SOUTH MIAMM, FL 33143 "i'S$ -iie_ 10/01120m 10!01204.1 552 .v.._�.._-------------- $ $52 033 B WER PAR • 2 TENNIS CO RTS 6300 SW 56TH STREET SOUTH MIAMI, PL 33143 —Tf9 • 10/01/2010 70/0//201 f $52,0 $S2 Leading / Thinking / Performing Exhibit 8 American Appraisal ftoe Property Schedule Agreement Period: 10/01/2010 through 10/01/2019 City of SOUL M1amr Agreement No.: PK FLT 0132021 1001 1 Agoncy: brown 8 Brown, Inc, Unit k Oeseription Addreu Year Suitt.. ' Conut yl Cnn /Type Eff. Date Tenn Dste Bufidin8 Va Os mm— CoMents Wue Total InsOrcd Vain¢ Roof Shapa ROOF Pitch Roof Covering Coeerng Replaced RoofYr Blt 034 BRE ft ARK ^46UF7 OF70PT IMI HFENCE 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 '^' 1' i£':- RC......._ 10/01/2010 ....:...................... 10/O112011 $T, ........«.»....,_._.._.._.:.... $7, Bft PARK- 60 OF5FT G FE CE 63005W 56TH STREEF SOUTH MIAMI, FL 3314 3 - ._182:.UC._.t0101l2011 70/01/2010 $319 __._, _...__.... ___ >_ ....... $0 $3,9 036 % 21 6300 SW 56TH STREET SOUTH MIAMI, FL33743 152�RE� 70101!2010 70fR1/2011� $y5 - - -'- - $t,5 037 RRA On f R 67701 SW S$ PLACE SOUTH MIAMI, FL 33143 iDN1/2070 10/01/2011 5360, F —$0 038 HOPE BUTLER ACTIVITY CENTER 6701 SW 58 PLACE SOUTH MIAMI, FL 33143 10/01/2010 - - - -- 10109/2011 5220,5 --- - $ 79 -'W' 039 F FTC E / PO D WATI ON 5975 SUNSET DRIVE SOUTH MIAMI, FL 33143 =-.. i:_........_:_:.. 1010115010 ._.._— 10/01/2017 ».- ._.._____._...,...,..: 532,500 $3z'500 040 6730 SUNSET DRIVE SOUTH MIAMI, FL. 33143 . »,ntL_ 101011201tl _..».__... 10/01/2011 $3,470,000 »....- ...- .._.....,.._... 5395.472 $3,865,472 041 6130 SUNSET DRIVE SOUTH MINI, FL 33143 -ii9 10 /01ROftl "- 10/R712011 $438000 __ - -'_ 556,7, $494,706 =T 042 SOU 0MM C N / YM 5B005iY66STREEf SOUTH MIAMI, FL 33193 . -fiT:. 10/01/2010 . - ^.<-- 10/01/2011 51,160, .- _.— ...._.._...._ „_.,._�. $390,000 S4,550,OOC .._..$195, 043 5 1 AAM RK A POT' — 43W$W64STREET SOUTH MIAMI, FL 33143 10/07/2010 70101!2011 $195,00 0 -� �50 5495, 1044 ILLI$ 80 722050061ST COURT SOUTH MIAMI, FL33743 1OT-1'ame 10101/2010 10 /Di /2011 $14,500 $ 519,5 Leading / Thinking / Performing Exhibit 8 American Appraisal Preferred Property Schedule Agreement Period: 10/01/2010 through 10/01/2011 wrM -w City South Miami assare Y f Agreement No.: PK FL1 0132021 10 -01 ASMWY: Brown a Bann, Inc. Unit& Description Addrett T - _Roof Year Built — — `ConstType Eff. Pate Sutld(ng VatU¢ Term Date ConteehYalu¢ Total Inwr¢d Value - Roof Covoring Covering Replaced RaofYr Sit Roof ShaPe pitch OAS MARSHALL WILLIAMSON PARK /M2E80 6121 SW 68 STREET- SOUTH MIAMI, FL 33143 .U2. -.. 70!0172070 - -- 10/01/2011 $65, -- ....___..___.,...._....... 50 $65, 046 AL W LLI N PARK / PLAYGROUND AND SWING 6121 SMI 68 STREET SOUTH MIAMI, FL 33143 -152 -NC 10707/2010 —�_ t0 /pt /2011 $32, _......_.�...... »....,..._ $32,50 P 047 MARSHALLWILI.MWN PARK / 3 G E 6121 SW 68 STREET SOUTH MIAMI, TL 33143 _, 12 `NC 90/0712010 _.....-- .__j1_. 10!0112091 $1,970 ____ S $1117 048 MARSHALL V6WAMSON1 PANIC 14 PICNIC 6121 SW d8 STREET SOUTH MIAMI, EL 33143 "1112' -`NE"` 10/01/2010 •._..__......,.,.. 10109/2011 $3,12 ...._._........__..,_.....:.___ $ $3,12 049 VM--W-TTFPAW t RESIDENCE BLDG 7WOSW59THAVENUf SOUTH MIAMI, FL 33143 "'if9 -JA1LL 10101/2016 _� 10107!2071 $2,5b OW _ _�______._ $0 S2531 CAF /3PICNI4 4 AVENUE - MI, FL 33143 -_= N 10/01/2010 _�__ 10/04120/1 $7,00 ..__._...,..._._...__.......__. $ $7,00 JALL T o$TREETf0i MI, R. 33143 : 10!0172010 .---•___ 10/01/2091 $130, ....._..._..__.__..:___....._.. $136, 052 P RK14G0 E SW 58TH COURT a SW 73ROSTREET SOUTH MIAMI, FL 33143 52' -TC 1010112010 10!61/201/,._ *.__- $S,WP, Total: 517,899,194 $1,049,792 $58,948,966 Leading / Thinking / Performing Exhibit 8 AssetW RKS APPRAISAL. December 10, 2010 Mr. Alfredo Riverol, CPA Cr.FA Chief Financial Officer City of South Miami 6130 Sunset Drive South Miami, FI.33143 RE: Professional Property Insurance and GASB 34 Appraisal Services Proposal Dear Mr. Riverol, AsssetWorks Appraisal, Inc. is pleased to submit our comprehensive property appraisal proposal. The services being proposed focus on valuation, proof of loss, updating and risk assessment. We understand client satisfaction is our number one priority. All appraisal reports are certified and are in compliance with the reporting requirements set forth by the Uniform Standards of Professional Appraisal Practice ( "USPAP "). With our proven expertise and experience, we are uniquely qualified to provide property appraisals to achieve the goal of accurate insurance placement and to act as a system for proof of loss substantiation in the event of a catastrophe. AssetWorks Appraisal has successfully completed property appraisal engagements for risk pools and public entities across the nation. In addition, AssetWorks, Inc. proposes to provide the City of South Miami with professional services to develop sufficient documentation to comply with GASB 34 asset management and depreciation requirements. AssetWorks. also proposes to provide the City of South Miami with replacement cost values for structures and fixed assets for insurance purposes. The undersigned will be your primary point of contact. If I can be of any assistance, please contact me directly at 800 - 876.0363 or christopher.krier( assetworks.com. Respectfully submitted, 67 /'cex- Christopher Krier Regional Sales Director AssetWorks Appraisal 101 Lakeside Park I Southampton PA 18966 1215.354.1078 (v) 1215.354.1086 (f) 1 www.assetworks.com fr # =4 111rdf>rV22>± # #t>GV( /± %f» # i �� .. m +y . a..... ... Professional Property Insurance Appraisal Services Proposal for: The City of South Miami As etW RKS December 10, 2010 APPRAISAL 1. EXECUTIVE SUMMARY You can confidently select AssetWorks Appraisal (formerly MAXIMUS Asset Services) as a partner to conduct your On- Site Appraisal Service for the following reasons: • We have been in the business of property appraisals for 19 years and have the reputation of being the "best of class" provider. We are already a trusted partner with entities across the United States having used property appraisal services in years past. • AssetWorks Appraisal is the technology pioneer in property valuation. We have the most advanced system in the business (AssetMAXXTM) and offer a perpetuation capability that minimizes the cost of continuing property valuations. • We have successfully provided property valuation and appraisal services for more than 5,000 entities across the United States, Europe, and Puerto Rico. CC3NTELLrT1C� V AssetWorks, Inc. is a Constellation Software, Inc. company. Constellation Software, Inc. SOFIN `ARE is an international provider of market - leading software and services to a variety of INC =a industries, across both public and private sectors. The company was founded in 1995 and has a large, diverse customer base of 16,000 customers, operating in over 30 countries around the world. Constellation is an extremely healthy organization, with consolidated revenues exceeding US$240 million. AssetWorks is an industry- leading provider of technology and consulting solutions for asset- and infrastructure - intensive organizations in government, education, utilities, telecommunications, transportation, healthcare and the commercial sector. p® s s t n ` ter S AssetWorks is an industry — leading provider of technology and consulting solutions B'4 VV f \v� for asset and infrastructure intensive organizations in government, education, utilities, telecommunications, transportation, healthcare and the commercial sector. Our suite of Enterprise Asset Management (EAM) software solutions and professional consulting services enable organizations to improve maintenance practices, streamline operations, and improve accountability for mission - critical capital and infrastructure assets. Leveraging the latest Internet, e- commerce, and mobile computing technologies, our software and industry leading expertise help our customers maximize resource utilization, improve service delivery, and achieve substantial and measurable cost savings. Whether you are doing more with fewer resources, or managing more assets with the same amount of resources, AssetWorks provides a complete solution, AssetWorks Appraisal offers asset management solutions that embrace all aspects of capital asset and real property tracking, valuation and reporting. Our innovative solutions help organizations to vastly improve GASB34135 compliance, generate detailed financial reports, carry out depreciation and capitalization modeling, track property disposal, generate property insurance reports, and much more. Page 2 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami Asset f R,KS December 10, 2010 APPRAISAL 1.1 BENEFITS OF THE ASSETWORKS SOLUTION We believe there are many benefits for selecting AssetWorks. We believe that our size and financial resources as well as our track record of quality in asset valuation provide the assurance you need to rely on us. Benefits i Features of the AssetWorks Solution t Guarantee of High Quality • All Work Reviewed • Will Correct Problems, If Any Occur • Minimized Rework 1.2 EXPERIENCED PERSONNEL Aggressive Quality Control • Corporate Philosophy — Quality First, Profitability Second • Regional Manager Charged with QC • Annual Client Survey AssetMAXX System The core of our success is our dedicated and qualified personnel. Our asset services professional staff is comprised of consultants possessing backgrounds in a wide range of specialties, including architecture, engineering, construction estimating, accounting, real estate, finance, and business management. Members of our staff maintain affiliations with various professional associations focusing on the American Society of Appraisers (ASA). AssetWorks has a unique combination of highly skilled professionals and cutting edge technology that allows us to assess, execute, and support each clients specific valuation requirements in a professional, timely, and cost effective manner. The increased reliance on modern information technology (versus manual processes) was a core component of the reengineering of our Asset Valuation Practice. AssetWorks has the information technology to enable the development of software applications built specifically to support asset valuation and management. Page 3 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami AssetWORKS December 10, 2010 APPRAISAL AssetWorks has 51 full -time employees, 11 regional offices, and 13 remote offices nationwide. The Southampton PA office is comprised of six full -time staff members including one partnership manager, two senior appraisers, two staff appraisers, and one office administrator. This provides many advantages to Camden City Public Schools due to its close proximity. If needed, additional staff members can be deployed at a moments notice to support the successful completion of the project. For the purposes of this engagement, AssetWorks will use only full -time employees — there will be no subcontractors. CONFIDENCE IN HIGH QUALITY AssetWorks has identified 'quality' as being the primary focus in all projects. Quality work results in a highly satisfied client and has been the basis of our success. Systems in place lead to shorter study periods, reliable data, minimized rework and a more useful reporting tool. The five stages of quality control include: • Project Design & Implementation Plan — Project Director • Daily Data Review — Project Manager • Finalized Data Review — Regional Manager • Preliminary Reports Review — Client • Data Integrity Review — ISG Processor Our aggressive quality control regime is led by a corporate philosophy of "Quality First, Profitability Second ". Annual client surveys along with the partnerships with long -term clients have taught that this is never to be overlooked. VALUE -ADDED SOFTWARE & TECHNOLOGY AssetWorks internally designed and built the AssetMaxx system, a web -based application enabling clients to track, access and maintain their asset/property data. Insurance and accounting reporting is made possible for the client through this system. Template reports and Ad Hoc reports provide for flexibility and a customized aspect to AssetMaxx. Annual perpetuation of data saves time and money for our clients and makes the annual reporting process a much simpler task. The increased reliance on modern information technology (versus manual processes) was a core component of the reengineering of our practice. STRONG & STABLE FINANCIAL PARTNER It is important to have confidence in the commitments made to you and AssetWorks has the strength and stability to guarantee. Our group has been successful since 1989 performing the same services. This is a high integrity, public company that is a part of the Toronto Stock Exchange. Open books and open disclosure along with strong finances provide for an environment of quality, honesty and commitment. Page 4 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami AssetWCIRKS December 10, 2010 APPRAISAL AssetWorks proposes the following appraisal team to the City of South Miami: Professional Affiliations American Society of Appraisers — Candidate Member USPAP — Uniform Standards of Professional Appraisal Practice Certification Marshall & Swift Trained Appraiser Property Focus Machinery & Technical Specialties Buildings & Structures Land & Improvements Valuations Focus Replacement Cost New Reproduction Cost New Fair Market Value Historical Costs for GASB 34/35 CRAIG WILDERSPIN Project Manager Atlanta, Georgia Mr. Wilderspin is a staff appraiser with AssetWorks and has been serving our clients since 2006. His tenure at AssetWorks has included the planning, management, and execution of various insurance appraisal projects for risk pools, states, municipalities, county governments, and other public sector entities. Mr. Wilderspin possesses technical expertise in the procedures and methodologies used to value machinery and equipment, buildings and building services, infrastructure, land improvements, and land parcels. He possesses a practical knowledge and understanding of Generally Accepted Accounting Principles (GAAP); Government Accounting, Auditing, and Financial Reporting (GAAFR); Governmental Accounting Standards Board Statement 34 (GASB 34); and various other audit concerns related to capital asset reporting. Mr. Wilderspin is also experienced in providing insurance replacement and proof -of -loss information to our clients to assist in addressing their insurance reporting needs. A sampling of projects Mr. Wilderspin has managed or worked on includes: • South Carolina School Boards Insurance Trust,SC • State of Alabama, Division of Risk Management • City of Roswell, GA • Hall County Schools, GA • Henry County Schools, GA • Town of Mount Pleasant, SC • Waukegan Public Schools, IL • Alabama State Docks • Barefoot Bay Recreation District, FL • City of Deerfield Beach, Fl- City of Greenacres, Fl- City of Mount Dora, FL • City of Polk City, FL • City of Wewahitchka, FL • Sarasota County, FL • Village of Wellington, FL • Etc... Page 5 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami December 10, 2010 Professional Affiliations USPAP — Uniform Standards of Professional Appraisal Practice Certification Property Focus Machinery & Technical Specialties Buildings & Structures Land & Improvements Valuations Focus Replacement Cost New Reproduction Cost New Fair Market Value Historical Costs for GASB 34135 Professional Affiliations USPAP — Uniform Standards of Professional Appraisal Practice Certification Property Focus Machinery & Technical Specialties Buildings & Structures Land & Improvements Valuations Focus Replacement Cost New Reproduction Cost New Fair Market Value Historical Costs for GASB 34135 BENJAMIN BUCHHOLZ Appraisal Team Pittsburgh, PA AssetWORKS APPRAISAL. Mr. Buchholz is a staff appraiser with AssetWorks and has been serving our clients since 2007. His tenure at AssetWorks has included the planning, management, and execution of insurance appraisal projects and asset inventory studies for states, risk pools, municipalities, county governments, and other public sector entities. Mr. Buchholz possesses technical expertise in the procedures and methodologies used to value machinery and equipment, buildings and building services, infrastructure, land improvements, and land parcels. He possesses a practical knowledge and understanding of Generally Accepted Accounting Principles (GAAP); Government Accounting, Auditing, and Financial Reporting (GAAFR); Governmental Accounting Standards Board Statement 34 (GASB 34); and various other audit concerns related to capital asset reporting. Mr. Wilderspin is also experienced in providing insurance replacement and proof -of -loss information to our clients to assist in addressing their insurance reporting needs. A sampling of projects Mr. Buchholz has managed or worked on includes: • South Carolina School Boards Insurance Trust, SC • State of Alabama, Division of Risk Management • Atlanta Public Schools, GA • Preferred Government Insurance Trust, Fl- City of Atlantic Beach, FL • Muncie Community Schools, IN • Etc... CHRISTAIN GUTIERREZ Data and Report Processing Miami, FL Chris Gutierrez has been an integral part of the AssetWorks group since 2001. He is responsible for the management and oversight of the Information Services Group. These responsibilities include software project management, data processing, data conversions, appraisal report compilation, software development, software support, project planning, and quality control. Mr. Gutierrez also served as a staff appraiser for two years. As a staff appraiser, he possesses a practical knowledge and understanding of Generally Accepted Accounting Principles (GAAP); Government Accounting, Auditing, and Financial Reporting (GAAFR); Governmental Accounting Standards Board Statement 34 (GASB 34); and various other audit concerns related to capital asset reporting. Page 6 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami Ass et V V R KS December 10, 2010 APPRAISAL. 2. PROJECT COORDINATION AND WORK PLAN PROJECT SCOPE The scope of this project is focused on the inventory and valuation of owned - structures and contents. The resulting data will provide current insurable values, adequate proof -of -loss documentation and the basis for insurance premiums. Project 'Kickoff Meeting Our project team will hold a comprehensive project - planning meeting with your representatives in advance to the start of the fieldwork. We advise that members of the administrative staff or other directly involved personnel attend this meeting. Topics of discussion include confirmation of project scope and time frames, the physical appraisal schedule, accessibility to buildings, contact person at each building or location, and availability and use of original purchase records, assignment of database code numbers and associated descriptions for locations and buildings. This meeting lays the foundation for the methods and procedures used during the onsite fieldwork. Project 'Closeout' Meeting Upon completion of the on -site investigation, the AssetWorks project manager will conduct a final closeout meeting with your staff. The focus is to ensure that all sites and properties have been accounted for and to answer any questions that you might have. This is also the time at which your staff should ensure that they have transferred all client supplied data to the project manager. Later delivery of data could delay final report processing. PROJECT SCHEDULE & PROPOSED TIMELINE AssetWorks' automated approach and depth of experienced staff qualify us to complete all phases of this project within the desired timeframe. Upon receipt of your authorization, AssetWorks will arrange a mutually agreeable schedule for the project planning meeting and our on -site inspection. With full cooperation from the City, AssetWorks will deliver reports for the initial appraisal by 90 days after start date. Page 7 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami Asset WORKS December 10, 2010 APPRAISAL APPRAISAL SERVICES & PROCEDURES GENERAL BUILDINGS & STRUCTURES The buildings /structures subject to our survey will be carefully inspected and measured. Professional AssetWorks appraisers will independently calculate the square foot area of each building appraised through the review of "as- built' blueprints or physically measuring each building. Building photographs will be prepared for each structure to become part of our proof -of -loss documentation, in addition to assisting with the valuation efforts. A description for each building will be developed and recorded, depicting construction type and materials utilized. Pa•tr:taa7r Construction, Oeeuponcl,, Protection, and Exposure (COPE) data inetudes: • - t Sy °"' m) Square Footage b) ConstructionflSO Class 4 ffi %a a � n) d Calling ' t v, d) Number of Stories v p) Updates (Roof/Bldg) Yr- a) Condition q) HeatinglGooling Systems Roof Shape 'fir --+„® ..; ;.z. _ u ... I) Flooring :.a Roof Pitoh • r er .. 2cc"''. -^" "' ElevatcTs i) Roof Type u) Identify Protection Systems Exterior r' X ,. Additional k) Year Built w) • Coordinates x) Flood Zone Classifications During the office valuation portion of the engagement, property exclusions (those items not typically covered by an insurance policy) will be segregated to properly report the site preparation and excavation, footings and foundations, and a portion of plumbing costs (below grade). M Professional Property Insurance Appraisal Services Proposal for: The City of South Miami f' s s t it V R K S December 10, 2010 APPRAISAL Construction/ISO Classifications In addition to the analysis of individual building components, construction classes will also be recorded. ISO classes 1 -6, as defined by the Commercial Fire Rating Schedule (CFRS) are defined in terms of the Marshall and Swift construction classes as follows: SPECIALIZED BUILDINGS & STRUCTURES WaterlSewer Treatment Facilities ISO Class M &S Class Description 1 D Frame /Combustible 2 C Joisted Masonry 3 S Noncombustible 4 C Masonry Noncombustible 5 A Modified Fire Resistive 6 B Fire Resistive AssetWorks' approach to valuing water /sewer treatment facilities are performed on an itemized building and/or process basis. The fieldwork should begin with a meeting between the project team and the plant manager or other delegate. The following is verified: • Available blueprints /site map /processing summary info • Plant accessibility and available working time • Chaperone requirements and other safety requirements Additional information on specific structures /equipment does not necessarily need to be discussed at the initial meeting but at minimum would be obtained prior to the conclusion of fieldwork. This would include: • Plant design capacity — measured in "million gallon capacity per day treated" MGD • Plant original construction date • Plant addition dates • Drawings for original and additional (architectural draw(Ings) • Plant flow diagram (used to establish numbering scheme) • Any "contractors cost breakdowns' for construction (original or additions) • Area to work from and be able to utilize drawings Ideally, the plant walk- through will be done after the plan review since the availability of blueprints or other information will determine which structures need to be physically measured. The plans may also provide info on the construction classification and other building features and processing equipment. Process Piping (underground) is typically excluded from property schedules for insurance purposes, however, should the Client elect to include piping as an individual land improvement entry, we can comply. Page 9 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami December 10, 2010 Common processes and structures analyzed and included are: • Headworks (Influent Pump Station) • Clarifiers (Primary, Intermediate, Secondary) • Aeration Tanks /Ponds /Basins • Gravity Thickeners /Dewatering Buildings / Belt Presses • Digesters • Filters (Trickling, Biological, UV... etc.) • Sludge Drying Beds /Lagoons /Incinerators • Laboratories • Ozone Structures • Chlorine Contact Structures • Blower Buildings • Pump Stations / Equipment Galleries Historical Properties & Reproduction Cost AssetWORKS APPRAISAL. Historical properties are addressed on two levels, starting with the identification of subject properties. This is to be completed by either obtaining a list of these properties from the Client or extracting buildings meeting a defined age requirement, with the Client subsequently identifying which of those are to be appraised with a reproduction cost as a historical property. The second level is the actual appraisal itself. In order to perform a historical property appraisal, components of the subject building must be identified and appraised individually, building a segregated cost approach to determine valuations on material that is like- kind as well as function. Specialty attributes are taken into consideration and valued p in terms of reproduction as it relates to the subject building. The valuations for jti. pr f historical properties are often complex and may be performed by a senior valuations expert from data recorded onsite by our project team. Swimming Pools Outdoor swimming pools are included in our onsite inspections and typically all in- ground concrete structures with pumps, filters, and chlorination equipment. If pools are included for insurance purposes, costing breakdowns will be discussed in order to determine what percentage used is 80% (the other 20% representing equipment). The equipment may be included in the cost of the pool or included in the content value of the building they are located. Large slides should be listed separately as additional features. Other types of pools include wave, diving and wading pools. Page 10 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami Ass L V V R K S December 10, 2010 APPRAISAL *Key details are recorded for theses specialty structures for valuations, as follows: • Electrical Substation Equipment • Substation Capacity • Circuit Breaker Quantity, Type, Capacity • Transformers, Quantity, Type, Capacity • Structures (Control, Dead -Man, Other) • Control Panel Details • Accessory Equipment Details • Reservoirs & Water Containment Structures • Type(concrete /steel /above - ground /in- ground) • Capacity o Construction Date & Cost • Pump Houses, Lift Stations, Wells, etc. • Structure type, size /depth, services, & features • Itemized equipment (type, capacity) MACHINERY, FURNITURE AND EQUIPMENT A detailed inspection and field inventory will be conducted at all buildings, identifying each asset by location, building and room. All assets included in our inventory and appraisal will be recorded and categorized by major account. This segregation of items will assist in reporting asset valuation totals for capital asset reporting formats. Our appraisers will utilize hand held computers equipped with laser scanners to document the required information for each asset where available: a. Asset Identification Number b. Description G. Quantity d. Acquisition Date e. Manufacturer I. f. Model g. Serial Number n. h. Asset Account i. Building j. Site /Location k. Room /Sublocation Funding, Department and Program Source* m. Normal Useful Life Accumulated Depreciation `Fund, Dept and Program numbers will be included with the assistance of City of South Miami's personnel. AssetWorks' appraisers will apply bar code tags to each asset and enter the tag numbers along with all the corresponding asset information into the database. Tags will be applied in a consistent location on like items, enabling ease of future re- inventory. Page 11 Professional Property Insurance Appraisal Services Proposal for: g� The City of South Miami A sett RKJ December 10, 2010 APPRAISAL Capital Assets — All assets with an original unit cost of $25,000 or more, and having an estimated useful life of one year or greater will be inventoried and identified individually and capitalized in the resulting reports and data. Only these assets will appear in the capitalized accounting reports. Fixed Assets — All assets with an original unit cost of $1,000 or more will be inventoried and identified individually in the resulting reports and data. These assets will not be capitalized and will be reported in separate detail reports displaying all assets. Inventory and Valuation of Insurable Land Improvements / Property-in-the-Open (PITO) AssetWorks will individually identify and value various insurable land improvements at each of your locations. These assets include, but are not limited to signs, exterior lighting, fencing, flag poles, benches, trash receptacles, etc... AssetWorks can provide an individual value for each asset or an aggregate value per site with a brief description of the assets included. VALUATION OF BUILDING CONTENTS "MODELING APPROACH" (WHERE APPLICABLE) Content values will be included based on the "modeling approach" that was developed to meet the valuation needs of risk pools and public entities without the need for a detailed inventory. AssetWorks utilizes computer models of more than 100 building types and their contents based on data gathered from thousands of appraisals over the past several years. A field inspection of each building will be conducted in conjunction with the building inspection. We will estimate the value of contents in a particular building by taking the square foot equipment value of a like facility and applying it to the calculated area of the building. We can adjust the equipment value to account for variations above or below the average value of equipment present at each facility. The adjustments are made based on a physical walk- through of each building. The "modeling approach" is unique in that a reliable replacement cost estimate of a building's contents can be generated without performing a lengthy and costly inventory. RECORDING OF G.P.S. COORDINATES AssetWorks staff will record the G.P.S. coordinates at the front entrance for each building. The coordinates will be included in the final reports and data provided to the City. AssetWorks staff will also verify the correct street address for each structure appraised and assign the proper location number. Page 12 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami A s t W R K S December 10, 2010 APPRAISAL VALUE COMPARISONS AssetWorks will provide the City with a "Value Comparison Report". This report will provide a comparison of any previous values with the new values estimated by AssetWorks. CLASSIFICATION OF FLOOD ZONES AssetWorks staff will research and identify the flood zone classification for each building appraised during the study. Flood zone classifications will be included in the final reports and data. VALUATION METHODOLOGY Our investigation of each property will follow generally accepted appraisal techniques and valuations in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP). This includes the use of various research sources to develop the cost conclusions for each building. Sources include price lists, trade journals, industry publications, technical and pricing subscription services, engineering manuals and inquiries with local contractors as well as direct cost research. It is an ongoing task to not only identify but continuously substantiate values. Multiple sources of value exist, but to rely on one can be dangerous as they all have positive points to pull from. Example sources of construction cost information include: • Direct cost information from recent projects • Inquiries with local contractors and architects • US Department of Labor — Bureau of Labor Statistics • Marshall and Swift/ Boeckh • RS Means Construction Cost Index • Reed Construction Data • Producer Price Index The offsite valuation portion of the project entails the research and calculations necessary to formulate replacement costs, reproduction costs, and insurance exclusions, defined as follows: Replacement Cost New is the amount required to reproduce property in like utility and function, in accordance with current market prices for materials, labor, equipment, contractor's overhead, profit and fees, but with no provisions for overtime or bonuses for labor and premiums for material or equipment, based upon replacing the entire property at one time. Page 13 Professional Property Insurance Appraisal Services Proposal for: p t The City of South Miami AssetW R;KS December 10, 2010 APPRAISAL Cost of Reproduction New (Historical Properties) may or may not be applicable for this project but if encountered, is the amount required to reproduce a duplicate or replica of the entire property at one time in like kind and materials, in accordance with current market prices for materials, labor and manufactured equipment, contractor's overhead, profit, and fees, but with no provisions for overtime, bonuses for labor, or premiums for material. Insurance Exclusion is a provision in an insurance contract describing property, or types of property, that are not covered by an insurance policy.. Based upon a review of current District policy specifics, we can identify those items specifically excluded under terms of the policy. The insurance exclusion amount is deducted from replacement cost to arrive at an insurable value, specific to each structure. Insurable Value is the Replacement Cost New less the Insurance Exclusions 4. EXPECTATIONS OF CITY STAFF AssetWorks believes that clients retain our services with the expectation that AssetWorks staff, as paid professionals and consultants, will perform the necessary tasks in a high quality manner to successfully complete the project on time. We do, of course, view our clients as active participants and anticipate their assistance with the following: Pre-Project Planning and Announcement— AssetWorks will identify key items to have prepared for the project kickoff meeting. We ask that you prepare a memo for staff members to announce the project and give the general purpose and time frame. • Availability of Existing Building Records — AssetWorks will utilize existing records, as provided by the District. Blueprints, for example, can aid in calculating square foot area. Access to All Sites — AssetWorks appraisers will be granted access to all sites and buildings based on a mutually agreed upon appraisal schedule. Page 14 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami AssetWORKS December 10, 2010 APPRAISAL 5. OPTIONAL SERVICES Reinventory Service Our staff will record all tagged equipment assets (those with unit cost of $1,000 or more) in your buildings. Where an original tag exists, our staff will scan the asset and tie back its original cost, fund and acquired date information. New assets requiring tags will be recorded, tagged and added to our data, then valued for both accounting and insurance purposes (original cost and replacement cost). All minor equipment assets (i.e. chairs, tables, desks) will be re- inventoried to reflect current insurable values. Upon completion of the field re- inventory, AssetWorks will perform a computerized data match of the re- scanned data and the previous database and provide an exceptions report. Assets that match electronically will be reconciled to the old cost, date and fund information. Final reports will take approximately 60 days from the date of project commencement. Annual Valuation Service Under this option, AssetWorks, Inc. provides an Excel spreadsheet to our clients, which is used for recording current year additions, disposals, & transfers. When completed, the Excel file is returned to AssetWorks for processing. Processing includes applying the changes to the master database, applying trend factors, and issuing updated final reports. Annual Update Service (Trending of Insurable Values) AssetWorks will apply detailed trend factors to the existing buildings for the purpose of updating each building's insurable values. The trend factors used are developed based on a variety of factors including the Consumer Price Index, the Marshall & Swift Valuation Guide, the Handy - Whitman Index, and the increaseldecrease in the cost of materials, technology equipment advancement, etc. After the trending is complete, AssetWorks will provide a complete set of updated insurance reports. Assetmaxx Software — Asset Management Web Application Assetworks is pleased to offer ASSETMAXX, a web -based program allowing users to securely maintain, collect, and retrieve data over the World Wide Web. In addition to its capital asset tracking capabilities, ASSETMAXX also allows for the tracking and updating of real property assets for insurance reporting and insurance placement purposes, in a real time manner. ASSETMAXX is the most comprehensive and flexible asset management tool available in the property tracking industry. Page 15 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami Ass etW R KS December 10, 2010 APPRAISAL Because ASSETMAXX is a web -based solution, it provides users with significant advantages over traditional client -server or stand -alone software: • With ASSETMAXX, users access the application via the Internet (Dial -up or Network) • ASSETMAXX avoids the need for the large initial capital outlay generally associated with software purchases. • Users "rent" the application and access it over the web, eliminating the added internal need for costly hardware and time consuming maintenance. Ca Application and data are housed on AssetWorks, Inc.'s hardware at the Assetworks, Inc. data center in Wayne, PA. This ensures that the system is always optimally configured. ASSETMAXX encompasses all areas of capital asset and real property tracking and reporting to include: 0 Fast, Reliable and Easy Access to Data a Secure Server Location and Administration Secure Authentication, Data Encryption and User Log for Accountability Supports Unlimited Number of Users Multiple Levels of Security and Access Permissions r} Digital Photo Interface c GASB 34 Compliant Features and Reports r Both Standard and Ad Hoc Reporting Features Supports Multiple Depreciation Methods and Capitalization Levels Tracks Maintenance and Repair Histories 0 Allows for Partial Disposals s� Multiple User Defined Fields (10 ea.) Dolphin Handheld Computer Interface (for adding new assets and conducting re- inventories) Data Import and Export Capabilities The ASSETMAXX pricing schedule is subscription based. Users pay an annual fixed fee, which provides them with access to their database. The fee includes: 0 24 Hour access to ASSETMAXX; All License and Maintenance Fees; i= Unlimited Help Desk Support 0 Automated Trending of Values (Annually) 0 All System Maintenance (database administration, network maintenance, etc.) Page 16 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami AssetWORKS December 10, 2010 APPRAISAL Try it yourself! Here's how to access the ASSETMAXX demo: 0 Log onto the internet and go to hftp://www.assetmaxx,com 0 Click on the link to the " ASSETMAXX Demo" (at the Security Alert click Yes or OK) 0 Click on the link to register as a "New User ", fill out the required information, and click "Submit Request ". Remember your username and password! 0 When you receive an e-mail confirming that your account has been created, you can go back to the site, log -in, and start working with live demo data. Assetmaxx Webex Training AssetWorks will supply all required technical expertise, Webex log in, and phone dial in information in order to complete a 1 time, 4 hour training session for the subscriber. Multiple users may participate if desired. A mutually agreeable training schedule will be determined upon the receipt of an executed agreement. Assetmaxx OnSite Training As appropriate, training sessions will cover the basics of system layout, setup, access, and security; data input, on -line review and verification, and editing; and ad hoc query and ad hoc and standard output report generation. AssetWorks, Inc. will provide all necessary training materials. We will also configure client workstations with ASSETMAXX and associated networking and security information. We will test each workstation for connectivity either to the AssetWorks, Inc. data center for key performance parameters such as response time, using a test database established for this purpose. Our budget for this task assumes that a client IT professional will be available during this time to answer any network issues that may arise. ASSETMAXX has numerous coding conventions that we will explain to appropriate staff. System settings are used to provide, restrict, or deny access to particular system features and to treat data entered into the system in various ways. In this task, we Will review these features in order to establish system settings relating to security authorization levels, data collection rules, data coding schemes, etc. Page 17 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami Asset WORKS December 10, 2010 APPRAISAL 6. REFERENCES Our relevant client references are as follows: City of Key West, FL Sandra Barroso P.O. Box 1409 Key West, FL 33041 -1409 305 - 809 -3811 sbarroso(a)kevewestcitv.com Scope: AssetWorks recently completed an appraisal of city-owned buildings in July of 2010. The fieldwork portion of the project was started on June 28, 2010 and preliminary reports were delivered on July 26, 2010. Charlotte County, FL Janine Hewitt 18500 Murdock Circle, Room 344 Port Charlotte, FL 33948 941- 743 -1244 Janine. heritt(a)charlottefl.com Scope: AssetWorks successfully appraised all owned buildings in 2006. Since 2006, AssetWorks has provided the County with value trending services and on -site appraisals to updated values and conduct appraisals of newly constructedlacquired structures as recently as 2010. City of Sunrise, FL Bill Mason 4747 N. Nob Hill Road, Suite 6 Sunrise, FL 33351 954 - 572 -2496 bmason(a)cityofsu nrise.org Scope: AssetWorks successfully appraised all owned buildings in 2007 and has provided value update services through 2009. City of Lakeland, FL Karen Lukhaub 520 N. Lake Parker Avenue Lakeland, FL 33803 863 - 834 -6799 Page 18 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami Asset ( RKS December 10, 2010 APPRAISAL Karen lukhaub(a )lakelandgov.net Scope: AssetWorks successfully appraised all owned buildings in 2006. Since 2006, AssetWorks has provided the City with value trending services and on -site appraisals to updated values and conduct appraisals of newly constructed /acquired structures as recently as 2010. Preferred Government Insurance Trust (PGIT), FL Kurt Heyman 615 Crescent Executive Court, Suite 600 Lake Mary, FL 32746 321 -832 -1455 khevman (o)pu blicrisk.com Scope: Between 2008 and 2010, AssetWorks successfully completed a 3 phase appraisal project that included the appraisal of all PGIT members. The appraisals consisted of over 8,000 individual appraisals for 274 members. 7. ASSETWORKS TERMS AND CONDITIONS AssetWorks standard terms and conditions are as follows. Upon award of the project, AssetWorks will work with the County to establish a mutually agreeable set of contract terns and conditions. 1) AssetWorks shall provide guidance to the City of South Miami in determining the data required for purposes of the contemplated services. The City of South Miami further agrees to provide all data specifically requested, including documentation and information to AssetWorks in a timely manner. AssetWorks shall assume without incurring liability therefore, that all data so provided is correct and complete. 2) In the event that the City of South Miami provides additional an /or corrected data, documentation and information at a later date, AssetWorks' efforts with respect to such additional and /or corrected data, documentation and information shall be deemed additional services and compensated in addition to the fees set forth herein based on applicable hours, professional fees and expenses. 3) The City of South Miami acknowledges project completion upon delivery of final reports. Final report delivery occurs only upon either acceptance of the preliminary reports data by the City of South Miami or upon the passing of the two - week (10 business days) period of time after preliminary report delivery, whichever comes first. 4) The fees proposed in this contract are valid for a period of 90 days. 5) To the extent a claim is not covered by the required insurance, each parry agrees that each party's total liability for any and all damages whatsoever arising out of or in any way related to this Agreement from any cause, including but not limited to negligence, errors, omissions, strict liability, breach of contract or breach of warranty shall not, in the Page 19 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami Assets RKS December 10, 2010 APPRAISAL aggregate, exceed the total amount of this Agreement. To the extent a claim is covered by the required insurance, each party's total liability will be limited to the amount of required insurance. 6) City of South Miami and AssetWorks shall each retain ownership of, and all right, title and interest in and to, their respective pre- existing Intellectual Property, and no license therein, whether express or implied, is granted by this Agreement or as a result of the Services performed hereunder. To the extent the parties wish to grant to the other rights or interests in pre- existing Intellectual Property, separate license agreements on mutually acceptable terms will be executed. Page 20 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami December 10, 2010 8. SAMPLE INSURANCE CERTIFICATE AssetWORKS APPRAISAL. car CONFIRMATION OF INSURANCE Tblxcaabr y)� ¢"ry"jpTSau °d.4a mWlevaf ¢ARrnr¢t Dn Dmyal chn.ee¢rmtlgTls. NAMED INSURED upon lhQ cor, U, M1OlAa Tn5[gPiHotilRUOes rot emcnd:dxtehA Pretlgrtlip eo. a _ CONSTELLATION SOFTWARE INC. and b,+loidoe Bare. aaezmm..: INSURANCE COMPANIES AFFOADING COVERAGE ASSETWORKS INC. 998 OLD EAGLE SCHOOL. RD Zurich I A Zurich Insurance Company i.ttl. tnneartsr.ml+iaAt WAYNE PA 1908] BROKER a Liberty Mutual Piro, Insurance Company {AMEUafm9VAr THE GGBB GROUP INC. C 120. SOUTH TOWN CENTRE 'BLVD. COIRANY MARKHAM, Ohl- LSG 1C3 U. MMAN E .COVERAGES Th Ylo c01r1y t1, Ll.e Pet Glee OLmtVrWMF.' I ObowM1avo4Sott..Olos VrednamPOp,ws rot IIo, ADCEYPRJCj+tlGaIGQ n4IwI0,11odnA 4 +)rcgIIirombnt le�nr. 000d UOn 00.1 oolleto., g111CY 6tlGYI1)INR 1ttm SgSP0GP10 WI1t Ctlih44t41111C$ IG movI,DI &SVGCOf TA}'PCYICIn. TIRIG9Wb{.CCRirc(U Yi CY Ilti'OGIIGICS [ICYIYIb@1'ilEMtgY o.N. it,wo f1i01S,TS. nxWG10.45dM C,tmo,owo,oh tPofk86. LMRIS AAEIN U.S. DOLLARS UNLESSUWICATEDOTNEAWISE: uMRSSHOWNMAY:HAVE BEEN REDUCED BYPAID CLAIMS TYPEOFINSURANCE Be POLICY NUMBER POLICY POLICY UMITSOELBSK1TY " - LTA EFFECTIYEDATE: E %PIP0.TMJN GATE YYYVIMMMO riYIMM +Op OOMMEACIALGENERALUABILDY $ 7,090000 EACxf oCCUARErvcB occaRRENCe Bwvls A 8839076 2010i09l2] 2011/6912) .__....._ .._...... $ 10.00„ 0DOD ccel*anu rlra Laa.c IncLLh�NIV ..,_. ,,,,�,.— ...,,. .mom $' 1'DDO'ODU AP6GUCt8ANV 40fAREit00f+EFAF CN pNO➢UCiS'_ccu LETE6 CRO451!RBIIJTYISEYCNABNYV OFIMCAEST4 (9LnN1lEL WNYMCIVPL llAphltY 6r4NA?IONSAGGREGATE PERSONAi.INURV UI cv"06601rtirt;ApvEPT51NOluDLRY Yt dDD sroxdpli' TL{MNi'SLLi✓J.1tAPR.ITY : St,ggaCiIO LIIAIT t.1EgIEAI: R %f'CR5f.£YR4Ctlq Ub.R Duch+ns mr.calls wfoeodtt yRUi.Cammercaf Gtvt , Uw Ic, Govq+w'on. Ns Pac,Yw b,,C.DW,0 Ds RNtnary itowo a nw..ebutoryand tol ox ..foryuir. Insmaz,ce. NOWOWNEpbHiAEp AUTOMOBILE DABItiTVr A 88,39018 261tl'03T27 201 iN,B(2T 1,ODD,000 FACH.OGCUBBOXE UMBRELLA LIABILITY A 8838]08 201D109/27 2011/09127 p $,14,000,000{ PEPixcuW+ENGE a1N S TH6AGGREWTE.. NOT APPLICABLE PROoses,B IALL/ALIXITYANp. 8838706' 2010!09/27 2011(09127 $10:00DA00 PE110rlllat c A aeon roA 6: TECHNOLOGY ERRORS bOMI55lONb vCAwsnabee <S,D S. 500,000 aeouc— NOT APPLICABLE PAOPEAWBROADFORM A. 0839011 2016709127 201 VDS27 $25,000;000 bSxn riaHE.veav anv,n,mT.Fvrr«srxeDA INGWOEO Ou51NE53 MCOa£ LOSS PAYEE:. WORKERS OOMPENSA Dam b E'U" L^CHnce+uMVr EMPLOYERS UAD&I" g WOR2S11,11DER -018 2010fOD127 2011109127 $1,000000 [ EMNDIGEFRfl NAPOYEE ttlC StATUYO%Y4M(rQ G6CASC MLGV WI4 II`1M G1VNtiR RWATION N OF BLHf/�NTM GT E SIGN A TNORi2EO HEPRESENTATIYE PRINT NAME DATE IY4'YYiMIAlDOf. dULIEROGERS 2010109727 .A 9nvta 1(0S AU Page 21 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami AssetWORKS December 10, 2010 APPRAISAL 9. DELIVERABLES & SAMPLE REPORTS Preliminary electronic reports will be provided as well as hard-copy final reports. CERTIFICATION LETTER Certified appraisal reports are bound in an easy -to -read format. AssetWorks will provide a set of insurance summary and insurance detail reports. The certified appraisal report will include the Letter of Certification, which will: a) Identify the property appraised b) State the purpose of the appraisal c) Specify the appraisal date d) Define the level of value sought and the premise of value employed e) Describe the nature of the property included in and excluded from the appraisal I) Discuss the appraisal investigation g) Indicate the factual data considered h) Present the conclusions of value i) Outline the qualifying and limiting conditions j) Include the signature of an authorized officer of the company PRELIMINARY REPORTS Draft Summary and detail reports will be sent via email in .pdf format for review. Our clients have two weeks from the point of issuance to determine acceptability of the final data. Upon acceptance, AssetWorks will then prepare and deliver final reports in electronic and hard -copy format. FINAL REPORTS Insurance Summary Report — Summary of values by location, this report is provided in spreadsheet format and includes the following detail for each site: 1) Construction Classification 2) Property Description 3) Property Address 4) Year Built 5) Gross Square Footage 6) Schedule Summarizing Replacement Costs 7) Exclusion Amounts 8) Content Values Page 22 Property Appraisal Services Proposal for: A s e E V V R K S The City of South Miami APPRAISAL December 10, 2010 Sample Summary Report 442002105 SAPIE CRY,WA Aso£ liasm00 SB028 HISURANCE SUMrlORY DY HUILDIIIG P'2 1 BuidiK,D.fl'Aim Ymr ISO IIUr. of sgwre R'fte,.M E.Jusia4 RePL6ce Coa CA,,It fs Code Mid. CRY BOX Ci.. Stod.. F.U'Y CO ft. A .A L.esa E.d,,, x. Value DORI: 00 SAMPLE CITY sRC 01 SAMPLE CITY HALL Sample Value Comparison Report 1990 2 1,000 120,700 7,200 113,500 21,600 ctnprA �a ELK GROVE, CA 95624 as e+. irs�ooe 5ov LE +..a...a..e. spmm nt*. awn tie- 5c�ca.,,paNao. 01 SAMPLE CITYHALL(PP27) IV 4 3 100,843 1119901000 $0,000 11,1SO,ON 3,229,400 w 101 WEST DOWNTOWN AVENUE HIODENCITY,OR 11111 RP.aonm nea'.�:. u :a E.ar+.a +apa` caa <.sov+ cp,to ana..p Silemblf4f01: AAIACCUM 2 110,843 12,110,]00 847,200 11,263,900 3251,000 SIR, 03 SAhYL.ECITYPUBLICSAFEWBUILDRIG NaLL Ot PUSNC S/ GYYBUILDINO(PP31) 1938 5 3 133,003 18,821,90 931,DDD 17,690,000 495B,40D 302.97'3 1234 PUBLIC SAFETY IPNE SAMPLE CITY, WA 99999 to R nElRE�3NE iO3RT2 143,CTa SRO mblfor 03: PsSR CaM t 44X 133,003 18,62i'm 931,000 17,6sCaTO 4$58,400 SRC 04 SAMPLE COHMITIOR CENTER aem CN; VARIO�IaCT'OBARTt4EN4a,PIXICE OEPAR1MENr. CO4UCILGNNBERE 01 CONVENTION CENTER (PP44) 1935 5 1 !63,000 25704,000 1286,000 24,418,000 4,961,90 eONeaErEPAVEenEmr- E.azF -sam0 I M4 CONVENTION CE WEE WAY SAMPLE CITY, MT 00000 s +b Wa+rnr ooi.. SREmbl for 04: Aa6Cwr41 ]S.ax] +4 169,970 25,704,000 1286,0)0 24,418,000 4$61,90 Site 12 SAMPLE EIRE ACADEMY TRARIIIIG SUE 4o�x +., W wnTVeaESmw+a 02 SAMPLE EURN LAS AND DRILL TOAER(PP11) 1936 6 4 7,038 447,000 25800 420,200 0 a5B2a 2000WEST DAN) DRIVE SHERWOM,WA 12345 Av g6AO.wE SitemNtfor th A dc.m 1 �h pry prp� 7,008 447,OW 26,800 420,200 0 SRC 39 SAMPLE CEIITRAL LIBRARY C'Al.SLR(ALpWiAfYq 01 SAMPIEUMMY(PP9) 1973 6 3 55422 7,131,000 4G%DDD 6,632,09 SA30,90 94209 READASOOK ELW LIERA,T %54921 CHFtNtMK iEwC+NO WAARO@ WIRE. ]HRS RT tP+iMN � Ya6N SRembifor39: A55M CwM 1 sn iwai w. 405 $9,422 7,131,D9 499,000 0,632,000 Spo.wo Sample Value Comparison Report nrn�oAp ctnprA �a as e+. irs�ooe 5ov LE +..a...a..e. spmm nt*. awn tie- 5c�ca.,,paNao. Pa + =� R. taa.p..�icp. a.waa.p..,, asp w caa. RP.aonm nea'.�:. u :a E.ar+.a +apa` caa <.sov+ cp,to ana..p NaLL 1.Ui PivifMtY. •M+nO 302.97'3 C.eiT to R nElRE�3NE iO3RT2 143,CTa 44X AVRPaA', OR Proyerty in Na Opan .EOO 3.M0 RO.Oa aem CN; VARIO�IaCT'OBARTt4EN4a,PIXICE OEPAR1MENr. CO4UCILGNNBERE iAN6+MPROY£Y�Ca1i:. eONeaErEPAVEenEmr- E.azF -sam0 s +b Wa+rnr ooi.. 3oS.SO4 ]S.ax] +4 YE m. op <a 4o�x +., W wnTVeaESmw+a 5� TPKK Mn4 xszroo +a a5B2a Av g6AO.wE �h pry prp� Rap.rty to i1�<Op <a 4,CaP 9 4,M0 100..04 X Me+r 4NElER v6i,9Y. 11ElOHT =2&a1'. CHpAWTY°api.OW C'Al.SLR(ALpWiAfYq ryPpSTG -RpVmP TAT+CW AT TUC -$AAIE SRG. OFSGT'ERf.TORA FN3® OiE^ARfEL S:JJK t �+t'r TO PVNA STATY.M. 1lWDInmRO�MEM:. CHFtNtMK iEwC+NO WAARO@ WIRE. ]HRS RT tP+iMN � Ya6N sn iwai w. 405 a3 +3s.en 92.¢33 b. pnrtyin t'n Wb t06.46X w CPffiTRODN E,Oi RESrti00MB4FDCaJ ri -fiA..I �WiD �f� 4ROAA.OR PeppertY+n eM1 eOP.n S+b +Na+ioe ooC. B be Ya +?.daA ,+] 4 OOM p O Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 Insurance Detail Report — Provides detail information on a per building basis. This report includes, but is not limited to the following: 1) Site Name 2) Building Name 3) Building Address 4) Occupancy and/or function of facility or building 5) Construction /ISO Classification 6) Year Built 7) Square Feet 8) Narrative Description 9) COPE Data (Primary & Secondary) 10) Replacement Cost New 11) Exclusion Amount 12) Content Value Sample Insurance Detail Report Services: Ealgy: Wi SAMPLERISKPOOL ELECTRICAL Site: 002 DEMONSTRATION ELEMENTARY SCHOOL PLUMBING Building: 04 ELEMENTARY SCHOOL HEATING/AIR CONDNTONNG (HEAT PUMP) 2WANYSTREET UNIT HEATERS ANY CITY, US W= AIR CONDITIONING - UNIT Department 2078 2X8 APPRAISAL Year Sulh 2DW Year Acquired: 7x0 Not"! Nundt Stales: 1 Square Foolagc: 915?4? B"'nou"t No Add(Ru"awials: NO AVERAGE WALL HEIGHT =14' Occupancy: SES SCHOOL- ELEMENTARY PERIMETER WALL LENGTH =ZW LF Fram¢Type: BY STEEL ISO Class: 4 MASONRY NON COMBUSTIBLE on LaMtuhn 34 °57.867N GPS LgngRude: 08I-14,3M Plead 2on¢: X Fire Protection: INTRUSYON SYSTEM FIRE ALARM- MANUAL FIRE ALARM - AUTOMATIC SPRINKLER SYSTEM (100%) GENERAL BUILDING CHARACTERISTICS Exleror Walls. DECORATIVE CONCRETE BLOCK BRICK ON MASONRY Roofing: !x% METAL - MEDIUM PITCH, 10% MEMBRANE, FLAT FouadMton: CONCRETE SLAB ON GROUND, CONCRETE FOOTING FOUNDATION Floor Phase: CARPETING,VINYL Coiling finish: ACOUSTICAL, DRYWALL Partitlons: CONCRETE BLOCK. DRYWALUSTUDS Services: Features: ELECTRICAL BUILT-INS (CABINETS, LOCKERS, BOOKCASES) PLUMBING COVERED ENTRANCE WAY HEATING/AIR CONDNTONNG (HEAT PUMP) COVERED WALKWAY UNIT HEATERS BACKUPGENERATOR AIR CONDITIONING - UNIT EXTERIOR SECURITY LIGHTING SECURITY CAMERASYSTEM Not"! ROOF REPLACED, 2004 ROOF STRAPS -YES AVERAGE WALL HEIGHT =14' PERIMETER WALL LENGTH =ZW LF Page 24 VALUATION CONCLUSIONS Relen cameut Cost New: Exclusion Amount: Replaeamen! Cost Less Exduslus s: Contents Value: Property In The Open: Toted insumhle, Repla annum Cost: Page: Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 AssetWORKS APPRAISAL 10. PROJECT FEES & AUTHORIZATION Please return a copy of this executed agreement to the attention of the undersigned via fax at 215.354.1086 and the original project fees page mailed back to this office All professional fees outlined below are in US Dollars and include out -of- pocket expenses. The TOTAL investment is as follows: Asset Inventory and Valuation Services $1,000 Tagging Level and $25,000 Capitalization Level Appraisal of Buildings Valued Over $100,000 (16 buildings x $105) Appraisal of Buildings Valued Under $100,000 (36 buildings x $95) Total: Optional Services 2010 Reinventory Service ASSETMAXX Software (1 User / Per Year) ASSETMAXX Software (3 Users / Per Year) Webex Training Assetmaxx Software Onsite Training (One Session /Plus Expenses) Annual Valuation Service Annual Trending Service RESPECTFULLY OFFERED BY: ACCEPTED BY: AssetWorks, Inc. City of South Miami Christopher Kder Regional Director Signature Name Title Date Page 25 Initial Here $16,300 $1,680 $3,420 $21,400 $14,900 $1,500 _ $3,500 $600 $1,100 $1,500 $1,500 Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 11. PROPERTY LIST AssetWORKS APPRAISAL unit 9 Desctiption Address year Built Const Type Buto Eff. Date I 11'"Idn' Value T Total Insured Value Roof Shape Rod Pitch Roof CW-rin Covering Replaced Roof Yr iFt 001 "to Inspection cation 5907 S.W. 70th Street SOUTH MIAMI, FL 33143 lTi7 we- I0!0112010 -iml $44,00.9 544 00 — 002 CAA read Stare center 612I SIN 0TH ST SOUTH MIAMI, Fl. 33143 10101/2010 $442, $5,497 $447,48, 003 4795 S.W. 75th Avenue SOUTH MIAMI, FL33143 1010112010 7010112011 $197,000 57,318 $2K3119 004 C C 4795S W It Aven 4795 S.W. 75th Avenue SOUTH A71A721t, rL 33IW43 SOUTH MIAMI, M 33143 31 31 10/01/2010 to, toi/ 0701/ &ID, &ID, &10I $54,090 $54W 005 OLIO 4795 S.W. 75th Avenue SOUTH MIAMI, FL 33143 -1007 Frame i0tolnoto 112011 $703,500 $103,5 006 VR� 4195 S,W, 75th A9*aw SOUTH MIAMI, Fl. 33143 I0/011201 10/0112091 007 ZffYTR-Ei`=AR SHOP 4795 $,W. 75th Avenue SOUTH MIAMI, FL33143___, --I 10f61120 $63,00) $122,20 F 008 4705S,W.75tNAV0nw SOUTH MIAMI, FL 33143 1010112010 10101/2011 W9 -DA-14-T1T% IMM�K�l TE I 1 FASCELLL 8666RED ROAD SOUTH MIAMI, Fl, 33143 "73T -v- 101011201 -I---_ I- I/ I $1,106,00 S1,106.00C — 040 0. E5 EASCUL PARK -2U 'E'--- WHO RED ROAD SOUTH MIAMI, 19.33143 JOAHIZ(HO W0112011 $65,00 Oil ,DART EIFASCELL A -6 SOUTH MIAMI, FL 33143 lit 1010it2(HO **-� to 5123,5 Page 26 Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 AssetW RKS APPRAISAL. UMtk Description Page 27 —year Eff. Pete BUiidrtg Vaitre Total. Insured Value Address Const Term Date Contents Value Type Boor Shape Roof Pftch Roof Covering Cover9trg. Replaced Roof Yr alt AN7 S ELL RAKK ! FWORCIUKU L 6,5OU f0f012010 5104,07) 012 8606 RED ROAD `T'01 FSme '"_ - --'.. (0/09/2011 — ....' ". "' ".-__.,.__._ $0 $104,OX SOUTH MIAMI, FL 33143 AN7.& FASCELL COMMUNITY iVNAG 701012010 503,004 0'13 8600 RED ROAD .._ ;�_ ». 10101f2GII __._..._.._.____�__�. $63, SOUTH MIAMI, FL 33143 FUCHS PARK PAVILION YONI LK I INC 05 I 10/01/2010 $31,003 014 6445 SW 81 STREET 101- Yram`e' "'. ""'»".".. 10!0113017 _M.._..___..._.�_ �$ $31, SOUTH MIAMI, FL 33143 A D SW S-rS 10/01/2010 $70,763$. 015 6445 SW 81 STREET ____.,.... 119 -.tM 10092011 ._.......,e.,._......_.._.,.V_m 769 SOUTH MIAMI, FL 33143 j AM—A— .PARM•FlE3D STORAGE Bui LUNG 10/01/2010 $45,540 016 6445 SW 81 STREET 1� _. _.�....._.....m_m...._ $45, SOUTH MIAMI, FL 33143 10109/2011��$ PALMER PARK FOOTBALL STORAGE BLDG 10101/2010 $75,000 6707 SW 67TH AVENUE - 119 • J,M ..__........... 10 /01!2011 ...,._..__M......... ».......... $45,730 ;120,73 SOUTH MIAMI, FL 33143 T STO ROOM 90/0712010 $33,OW 018 6701 SW 67TH AVENUE 119 JMi 10104 /2017 .....__._.. »� »�$19,5W $52,5 SOUTH MIAMI, FL 33143 PAR HOUSE 70/0112010 $109.29 019 6707 SW 67TH AVENUE -- f1§''�M_ __._» ............ 10!07(2041 ..._..__..,.._._.._.._ »..._.... $9,14 $118,35 SOUTH MIAMI, FL 33143 QER ARK P YGROUND 1 0 /0112010 $261 020 6701 SW 67TH AVENUE - -.— 707 •Frame ------_.... 10/0(12011 .»...____._.._..............m.. 50 526, SOUTH MIAMI, FL 33143 PARK / 4 CML TABLES 1010112010 $$7 021 6707 SYY 67TH AVENUE $3,12 SOUTH MIAMI, FL 33145 PALMERPARKi BBQGRI LS ^— 10101/20(0 $7B 022 6701 SW 67TH AVENUE -- _. —_._. Ate' _._...,.__.._..„.... 10/01/2079 ..�......__........_........_.. $78 $ SOUTH MIAMI, FL 33143 Page 27 Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 .AsseW R KS APPRAISAL Unit# 1) PUM Address Year Built W_. —. Conk Typo Err. Date Tartu Ewe. BuRdit Value ...... e Totzi Insured VaIU0 62ocf Shape Roarpitch . Roof Covering Covering Reptated RooSYr Blt 023 PALMER ! 10 5rt HIGH PENCE 6701 59167TH AVENUE SOUTH MIAMI, FL 33143 —� .2 = 10/011201 ____..._ 10101 /2011 $73101) .. ------ ..._,_ ..............._ »».... SO $13,00 024 PALMER PARK • T(W 0-10 t 6701 $Y1 67TH AVENUE SOUTH MIAMI, FL 33143 70/01/2010 1Oltl712pF1 $0 028 PALMER - ESTROOM. StO 6709 SW 67TH AVENUE SOUTH MIAMI, FL 331411 tT4 '" 10!0712070 ._.._........, 101C91207i S64,60D ..__.____..__...,.____.____.. S $84.69 026 A -C C BLDG 6701 SW 67THAVENUE SOUTH MtM. FL 33143 it9.,�,M_. T0/01(2414 1 0141 /20- $54,000 ..---- ._.... .._.._._.�. -.- $0 954,tlC 02 A 0 S9W 5W 54TH PLACE SOUTH MIAMI, FL 33143 719 - JMt 10101/20t0 10101!7.049 $0 $28,665 $28,66 028 BREWER PARK 2 RACq L C URTS b300 51Y 56TH STREET SOUTH MIAMI, FL 33143 ._._ —�__ 919 -JM 10/01/2010 ._...__ u........_ 1 010 1 /1011 $28,665 ......_.._ ..................___ $ $28,665 �.W 029 'BR YER PARK- 112 BASKETBALL COURT 6300 SW%TH STREET SOUTH MIAMI, FL 33143 - -114 JiA' 1010112010 10/ 01/ 2019 5131400 . W..,_....._._.__....�.._.w._,io $13,OOC 030 1YER PARK - P YGROGN S 6300 SW 56TH STREET SOUTH WAM1, FL 33143 752 -, - 10101/2010 ___ µ_....,...»,.,_. 1df01(20it $34:125 ,.,.__....,_.,...._..........__ $0 $34.125 03t BREW Eft PARK -48ENC 6346 SW 56TH STREET SOUTH MIAMI, FL 33143 ._._ —_._. 152 10101/2040 ., __...__........._._...___..._.. 10!01(2017 ...M, rv�i,,... $ SL5 032 BREtV'cR PARK- qGR SOU 5W STREET SOU TH MIAMI, FL 33743 132 - taC 7 01 0 112010 tdl44/2019 $5 $5Z S 033 BREWER PARK - Z T NPTS O 6300 SOUTH YIA HSTREET SOUTH MIAMI, FL 33143 10/01/2010 10/0112011 552,E $52, Page 28 Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 AssetWORKS APPRAISAL. Page 29 Desaiptlon Year WIt Elf. Date Bufiding Yatuo Total insured Va1w unit 8 Address 7'erm"6aEeT'C'onteMS YaTu� Roof Shape Roof Pkch ConstType Roof COVerlog C.., Replaced Roof Yr sit —MTWM PARK - 660FT Of 10FT HIGH FENCf 701012010 $7,8 $7,80 I�Nc 034 63DD SW 56TH STREET ttl/bi2011 SO SOUTH MIAMI, FL 33143 A - iICtM 10/OSIR010 035 6300 SW 56TH STREET ' -lit .,..10101120E t _._._....._....__...,W..__,..5 SOURf M 1, FL 33143 B W P K- P, )C 10/0112010 S1 >56 ------- $i,56 036 6300 SW 56TH STREET 10/01/2011 $ SOUTH MIAMI, FL 33143 MTRR—ATPARK—rC0W0Nk 11 UK 1010112010 5360,0 __— __.__._e_.___ $3GD,W 037 670E SW 58 PLACE 9t9� -jU7C - - -__ tOFD1 /2011 SOUTH MIAMI, FL 33143 ' HOPE BUTLER ACTIVITY CENTER 10!01/2010 $220,^ 5220,5 038 6701 SW 58 PLACE iT4.Jd _._.._._. 50±01/2011 _,.— _.,..____.._.._.._ SOUTH MIAMI, FL 33143 RC POLCE UWAM14 10101/2070 $0 039 5475 SUNSET DRIVE " "ii9 JM ___. 10101 /205 1 $325 ^ 532, 5011TH MIAMI, FL 33143 Ci POLI 1010112010 $3,470,00 040 6130 SUNSET DRIVE "1111UC� 10 /01F2Dit �_n4V.�.. ^. ^.TS39S,d7 $3,865,4±[ SOUTH MIAMI, FL 33143 RYA R BLDG 10/01/2010 5438,0 041 6180 SUNSET DRIVE . —i 99 -— ._._.. tib /01 /2011 ____.__— _ _. $56, _ $404,70 SOUTH MIAMI, FL 33143 S U MIAMI IN 10ENI LKf GYM 10101/2010 047 580D SW 66 STREET -f Wr k0IGIIZO09201'9 _ 5390,000 SOUTH MIAMI, FL 33143 50 '. 0..t A A 10/011ZO7 $195100 043 4300 SW 66 STREET ._.tiU JAN ._..__ .._... 10/O11Z051 .... __...— .__.— ..__._____ $ $195, SOUTH MIAMI, FL 33143 10101/2010 $k9,5 $19"SOC .. Q44 7220SW615f Co RT - 101-- F:r$me 90!07 /204t i SOUTHMMMI, FL33143 Page 29 Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 Asse W ROCS APPRAISAL Ink d Desaiptfan Address Year au91t — ""T"__ Coast Type Eff. Date Tarm Data @uilding Ya uo Can OMS Value Total Inured Value Roai Shape Roof Pitch poor Cowering Cnver9rrg Replaced Rani Yr Oh 045 MApS LL WILLIAMISO PAR / GA2E00 4121 SW 6$STREEEi SOUTH MIAMI, FL 33143 " "i'SY`••� -' fOt0112010 10 /Di lzata. ^..-- _._.__..__�_._..$ 046 AM I LA OANDS NG $121 SAY 68 MEET SOUTH MIdkI, FL 33143 'Tff- t0/UIJ2010 10l 01l 201F- $37,500 �m .•_.�.,e..._ ..............„.._ 532,50 047 MA9RMrW1E0kZ6WrARK 13 BENCHES 6121 SW fib STREET SOUTH MIAMI, FL33143 ... "1"42 " =i7t _ 90/OV2010 10/01/2011 $9,170 — „,_.....___._..__..�. -- i0 ST,t 045 M4R5 bdiAd150 PARK 1 7HCNICT S 6121 SW 6$ STREET SOUTH MIAMI, FL 33143 f0(0412tl10 .101D1 /2b17 $3,1 1 049 VAN SMITH PARK RESIDENCE DG 7896 SW 59TH AVENUE SOUTH MIAMI, FL 33943 - -Jf3F; 9010112670 _._ ^__.. 00/bi/2b11 $253,000 .._____.,._...- _- .- ......,.. -. SO $253, 050 ATEAMERICA PARK /3 ICN'7C 1�gt� MUM IA 64 I, AVENUE R. 31 SOUTH MIAMI, R. 33143 ' TS'L -tiE` 10/01/2010 _ 10101J2b9f 57,0491 ~� $0 $7, 051 G RL OUT PROPER 609 5W 60 STREET SOUIii MIAMI, FL 33143 aiTi 'Fram�a 10/01/2010 .______... 10Ibff20i1 $130,00 _.._.___._...__.._.. ------ __. $ $130, PAR. 7NG GARAGE 9010112010 $510001000 052. SW 5$TH COURT a SW 73RD STREET SOUTH MIAMI, FL 33143 - -1 -H[ 16107(2011 $0 TOtdt: $17, &94,194 $i,D49,792 $58,948,4$b Page 30 Industrial Appraisal Company Proposal Summary Category Description Amount Total Fee Inventory and Appraisal $7,780 Option I Asset Tagging $800 Option 2 Valuation Infrastructure $1,500 Option 3 Land (58) Parcels Valaution $7,250 Option 5 Excel Data File $150 TOTAL $17,480 Jan ujtrJJppraijaI Company Corporate Office Two Gateway Center 603 Stanwix Street, Suite 1500 Pittsburgh, Pennsylvania 15222 412 -471 - 2566,800- 245 -2718, Fax 412 - 471 -1758 www.indappr.com Keith A. Lalley, Regional Sales Manager 440 - 885 -3147, Fax: 440 - 885 -0007, Email: klalley @indappr.com JndadriaC Appipaijal Company 02RPORAT FlCE 4M24] 2566 TWO GAtEWP.YCfiN,I 5 BO412A1I18 03 W, Si& 1222 PN(:411 -011 -1)58 HmM1v�, PCruuSlvenie 15222 wmv.intlaPPrcrcn January 17, 2011 Mr. Alfredo Riverol, Chief Financial Officer and Mr. Pablo Velez, Purchasing Manager City of South Miami 6130 Sunset Drive South Miami, Florida 33143 Dear Mr. Riverol and Mr. Velez: Attached is our revised proposal to provide an appraisal for the City of South Miami for fixed asset accounting control and insurance valuation purposes. This replaces the Appraisal Agreement which was dated December 30, 2010. Under the terms of our agreement, we will conduct an on -site inspection and appraisal of the buildings/structures, site improvements, fixed equipment, machinery and movable equipment associated with the property locations in reference to the Property Schedule provided which is included in Addendum No. 1 of the agreement. The report will be presented in our Property Inventory and Accounting Cost Record format which will provide a record of assets in computerized form. This presentation is designed for the continued maintenance of effective property control as well as providing a depreciation study for all fixed assets in compliance with GASS 34 requirements. The depreciation study is based upon actual or estimated acquisition cost and year acquired. Applicable to insurance values, our certified report will establish the current Reproduction Cost New and Sound Insurable Value (Actual Cash Value) of the properties appraised. When our offer is accepted, please sign, date and return the agreement to my attention. Upon receipt, we will proceed promptly with making arrangements to schedule the on -site inspection. If you wish to have us furnish your insurance agent or broker with a copy of the appraisal summary, please complete and return the attached Form 311, agent authorization. Due to the confidential nature of these figures, they will be released only with your written consent. Should you should have any questions concerning our offer, or the anticipated service, do not hesitate to call me at 440- 885 -3147, Fax 440- 885 -0007 or Email klalley @indappr.com. Thank you for the opportunity to resubmit our proposal, We look forward to being of service to you in your valuation requirements. Very truly yours, INDUSTRIAL APPRAISAL COMPANY /w" Keith A. Lalley Regional Sales Manager KAUdmd Jnda -itNial Appraid Company co na're or e. 412 -011 -2568. 1W0 6AiGWnYCFM}R 412472]18 N.b. w?'.O W.IS 0 FN1: hd 11 -1. RrstwpJn eewcy��m;a lsizz ,mw.inaapn;.can APPRAISAL AGREEMENT Revised The Industrial Appraisal Company hereby proposes to provide inventory and valuation services for the: City of South Miami 6130 Sunset Drive South Miami, Florida 33143 PROVISIONS AND SCOPE OF APPRAISAL The appraisal reports and services are to consist of on -site consultation, data collection, inventory, valuation, and cost analysis of the fixed assets of the City of South Miami for the purpose of preparing a tabulated schedule of fixed assets including a depreciation study related to actual or estimated year of acquisition and acquisition cost. This schedule is designed to conform to the requirements of GASB 34 as it pertains to depreciation. Supplementally, an opinion of the current insurance values of the buildings and equipment will be provided. The fixed assets to be identified and recorded will include selected buildings /structures, fixed and movable equipment. The applicable property locations are in reference to the Property Schedule provided which is included in Addendum No.1 to this agreement. II. INVENTORY AND APPRAISAL PROVISIONS The data for the proposed asset management system and the insurance valuation report will be developed by physical inspection, inventory and cost analysis of all applicable assets. A. Buildings /Structures The buildings /structures will be valued as a unit -in -place for cost accounting and insurance valuation purposes reflecting specific data elements relating to dates of construction or acquisition, original cost allocation, square footage, useful life, and reproduction cost new. Building component classifications will be comprised of General Construction, Plumbing, Heating /Air Conditioning/Ventilating, Electrical, Sprinkler System, Roofing and Fixed Equipment allocations. B. Site Improvements — (insurable and Uninsurable Site Improvements) The site improvements will consist of: Lighting, Fencing, Flagpoles, Signs, Parking Lots, Sidewalks, Curbs, Retaining Walls, Property in the Open, Etc. C. Movable Equipment Movable equipment will be inventoried on a building, floor, departmental and room -by -room basis and will be segregated by asset class and between major movable equipment and other movable equipment. Page 1 9�d�.+tme,.9pp.a:wlC�p I January 17, 2011 Appraisal Agreement Revised City of South Miami 1. Maier movable equipment will generally include individual items with a replacement cost exceeding $1,000.00 applicable to insurance and $25,000.00 capitalization thresholds with a useful life of one year or more. Certain items /systems below the unit cost standard that may warrant special property and cost control will be considered Critical Control Assets. Such items (CPU's, Printers, Monitors) may be designated "Critical Control Assets" in advance of commencement of the inventory. 2. The remaining movable equipment, designated as other movable equipment, will be inventoried on a room by room or by building basis, grouped and valued by asset class. Data elements relating to dates of acquisition, acquisition cost, useful life, and replacement cost will be developed "at average" by asset type for each location segregation. Licensed Vehicles: Licensed Vehicles may be included in the fixed asset record based on information to be supplied by the City of South Miami. Vehicles should be reported with Vehicle Description, Manufacturer, Model, Vehicle Identification Number (VIN), Cost and Year Acquired. REPORT PRESENTATION The capital asset report presentation will include all fixed asset classifications currently scheduled or pre- designated by the City of South Miami and will be prepared in conformance with Industrial Appraisal's Property Inventory and Accounting Cost Record form. A. The report(s) to be provided will include: - Letter of Transmittal - Building Schedule Index - Departmental Schedule Index - Insurance Valuation Summary - Recapitulation Summary by Asset Code - Master Detailed Report B. The Master Detailed Report will include the following data: Building Identification - Floor /Room /Area Code - Asset Class Code - Quantity - Description - Date Acquired - Life - Reproduction Cost New - Acquisition Cost - Accumulated Depreciation - Annual Depreciation - Salvage Value 1. Acquisition Date and Cost (Buildings /Structures): The dates of acquisition and acquisition costs of buildings /structures will be developed by the appraisal staff through use of data to be supplied by the City of South Miami and should include architectural cost breakdowns, renovation projects and any records of site purchases. In the absence of actual costs, Industrial Appraisal Company will utilize reverse trending indices applied against current replacement cost calculations. 2. Life: The life schedule for fixed assets conforms implementation as indicated in Addendum No. 2. must be made prior to commencement of the work. to recommendations by GASB Statement 34 Any exceptions required by the City of South Miami 3. Depreciation: All major fixed asset items recorded will be capitalized and depreciated on a straight -line basis utilizing the half -year convention computed as of a December 31 fiscal cutoff or as otherwise specified. 4. Salvage Value: The estimated amount expressed in terms of money that may be expected upon sale or other disposition of an asset after it is no longer useful to the owner and is to be retired from service. Salvage value will be computed by classification and calculated using the schedule indicated in Addendum No. 2. Page 2 .S�d.�tmP.11pp.�.+af �' mph January 17, 2011 Appraisal Agmement Revised City of South Miami IV. PI VI. VII. PROFESSIONAL FEE The total This fee testimony v, — .,, — r- r---- .. -- -, -- - diem rate of $1,500.00 plus applicable expenses. BILLING PROCEDURE The fee quoted for services to be provided currently will be progressively billed as follows: 60% of Appraisal Service Fee due upon completion of the on -site fieldwork Balance due upon delivery of the completed appraisal report court : a per Unless special arrangements have been made all progressive payments must be in hand before the appraisal results are released for delivery. This agreement may be terminated at any time, however, accumulated fees and costs incurred to the point of termination will be billed through the active period. ANNUAL SERVICES The Industrial Appraisal Company will provide annual maintenance service for both the updating of the Property Inventory and Accounting Cost Record and the Report of Insurable Values. A. Property Inventory and Accounting Cost Record Updating Industrial Appraisal Company offers to furnish annually a new fixed asset schedule that will reflect the additions, deletions and transfers that have been reported to the Company for the previous year. New depreciation data will be calculated. In addition to the revised master report the following supplemental reports will be prepared. - Current Year Capital Additions by Building - Current Year Deletions by Building B. Insurable Values Updating A report of updated insurable values will include a new appraisal summary reflecting the current Reproduction Cost New and Sound Insurable Value of the buildings and equipment. ANNUAL SERVICES FEES Annual Updating of Property Inventory and Accounting Cost Record ......... ........................$290.00 (Due First Anniversary) Annual Updating of Insurable Values... ...... .................... .......................... ........ ..... W0.00 (Due First Anniversary) PROOF OF LOSS SERVICE In the event of a loss covered by insurance, provided immediate written notice is given to our Corporate Office, and our Annual Revaluation Service is in effect, the Industrial Appraisal Company will provide updated values, for preparation of proof of loss, of the appraised property as of the date of the loss. Page 3 January 17, 2011 Appraisal Agreement Revised City of South Miami oPT1owt. SERVICES Presented as Optional Services and additional fees, Industrial Appraisal Company is offering to include the following: Provide Tagging (Including Tags) of Movable Equipment The movable furniture and equipment items warranting specific property control with a current replacement cost exceeding $1,000.00 can be physically tagged and reflected in the completed report. Tags will be of vinyl pressure sensitive type with bar code identifier and will be affixed neatly in a uniform manner in accordance with existing appraisal standards consistent with those outlined in Addendum No. 3. The Industrial Appraisal Company will not tag surplus, obsolete, non - functional, stored or otherwise inaccessible furniture, fixtures or equipment, These items may be valued as a group using an estimate based on the observations of the appraisers or as otherwise directed by the City of South Miami. The fee to provide Tagging (including Tags) of Movable Equipment with a current replacement cost exceeding $1,000.00 will be an additional r i. e. . Provide Recording and Valuation of Infrastructure Assets It is understood the City of South Miami will provide all necessary data related to cost and technical information to assist Industrial Appraisal Company in the recording and valuation of infrastructure assets. These infrastructure assets include roadways, sidewalks and storm water system only. The fee to provide the Recording and Valuation of Infrastructure Assets will be an additional ri ir. s. . Provide Research Necessary to Include Land Data Land is not a depreciable asset but should be included in the fixed asset record based on information to be supplied by the City of South Miami. Its inclusion in the study requires historical cost, date acquired, parcel number and lot size. In the absence of historical cost information, the current Market Value should be provided for the parcels. Industrial Appraisal Company will estimate a cost utilizing reverse trending based on custom indices. Where cost information for land is not available or provided, the Industrial Appraisal Company can provide the research necessary to include land data to satisfy GASB requirements. A separate fee consideration of will be required to accomplish this additional work. Page 4 .%a✓wbtaf.�pp.000omp January 17, 2011 Appraisal Agreement Revised City of South Miami OPTIONAL SERVICES (Continued) Provide our Visual Fixed Asset Control System Software ( VFACS) The Visual Fixed Asset Control System Software/VFACS Can be purchased on electronic media to provide for the maintenance of the Property Inventory and Accounting Cost Record. It is a PC -based software which can be accessed by multiple users provided the Software is on the server and all users are on the same local area network. This software is compatible to a# Microsoft Windows 95, 98, XP Professional, XP SP3 and 7 32bit workstations. VFACS Software includes a Support and Maintenance Agreement whereby the Industrial Appraisal Company's Information Technology Department will provide telephone support and coordination services as required. The fee to provide our Visual Fixed Asset Control System Software/VFACS is ++. VFACS'Software includes a Support and Maintenance Agreement for the first year and charge of 25 ODer after initial year. Provide Microsoft Excel Data File (Spreadsheet) The Industrial Appraisal Company's (Excel File) spreadsheet is developed from the Internal Data File used in producing the appraisal report. Data elements reflected on the appraisal report are included in the spreadsheet. The City of South Miami may edit this file as their in -house system or build an interface with an existing system. The fee to provide the Microsoft Excel Data File (Spreadsheet) will be an additional Page 5 .�,�lwbnf.�ppwf C,��pwy January 17, 2011 Appraisal Agreement Revised City of South Miami CONDITIONS The appraisal will not include land, landscaping, books, valuable papers, fine arts, consumable supplies, intangible assets, or property of third parties. In the event Industrial Appraisal Company's services are requested to include items not covered by this agreement, these services shall be negotiated between the City of South Miami and Industrial Appraisal Company. Performance of this contract and fees developed hereunder are predicated upon free access to the property and required information and available data to be provided promptly as requested. Any exceptions to our standard life schedules, codes, salvage values, etc. will result in additional charges. Terms and conditions on purchase orders issued to Industrial Appraisal Company for authorization are for the City of South Miami's internal use only and shall not modify the terms and conditions of this agreement, addenda, or related documents. The Industrial Appraisal Company is not an accounting firm and we rely upon mutual cooperation with the City of South Miami in developing an accurate accounting database that will meet GASB 34 requirements for compliance. Page 6 9ubnf�4ppwuae�,anyany January 17, 2011 Appraisal Agreement Revised City of South Miami ACCEPTANCEIAUTHORIZATION TO PROCEED Neither party to this contract is bound by any promise, term nor condition, either oral or written, not incorporated in this instrument. Acceptance of this Appraisal Agreement also indicates acceptance of Addenda. This offer for appraisal services expires after ninety (90) days at which time it may be renegotiated. REVISED AND RESUBMITTED this 17v' day of January 2011 INDUSTRIAL APPRAISAL COMPANY TWO GATEWAY CENTER 603 STANWIX STREET, SUITE 1500 PITTSBURGH, PENNSYLVANIA 15222 'Via' 1'a7 Keith A. Lalley , Regional Sales Manager ACCEPTED: CITY OF SOUTH MIAMI 6130 SUNSET DRIVE SOUTH MIAMI, FLORIDA 33143 - Signature Date Print OPTIONAL SERV ICES ACCEPTANCE: (Please Initial) 71-M Provide Tagging (Including Tags) of Movable Equipment with replacement cost exceeding $1,000.00. ......................... .................. ............... o. . Provide Recording and Valuation of Infrastructure Assets ....... .............................'• r r r t o. . Provide Research Necessary to Include Land Data .... ............ ............... : r r ' • ' • - o. . Provide our Visual Fixed Asset Control System Software ( VFACS) ......................... r (Includes Support & Maintenance 1" Year Charge of$250/YearAfterinifial Yeah o. Provide Microsoft Excel Data File ( Spreadsheet) ................. ............................... r r Page 7 9.,d.,aaI.APP...AfC„�e January 17, 2011 Appraisal Agreement Revised City of South Miami ADDENDUM NO. 1 Properties to be Appraised Page -AlL f,a L 4pp,a 1C".PY January 17, 2011 Appraisal Agreement Revised Addendum No. 1- Properties to be Appraised City of South Miami EM! rne Property Schedule Agreement Period: 10/01/2010 through 10/01/2011 ERNIAENTAI City of South Miami WSURANCEAUSi Agreement No.: PK FL1 0132021 10 -01 Agency: Brown It Brown, Inc. unit# Description Address Year Built .._. ____. Const Type Eff. Date ..._.....—..... ......._.._......_.__..— Term Date Building Value _.____. Contents Value Total Insured Value Roof Shape Roof Pitch Roof Covering Covering Replaced Roof Yr Bit 001 Auto Inspection Station 5907 S.W. 70th Street SOUTH MIAMI, FL 33143 ��,i -:- -• 10/01/2010 - -- ---- 10/0112011 ------ — - $44,000 $ - 544,000 �T 002 CAA head start center 6121 SW 68TH ST SOUTH MIAMI, FL 33143 1010112010 01/26 11 $442,000 y— — $5,487 $447,487 003 Public Works Office Building 4795 S.W. 75th Avenue SOUTH MIAMI, FL 33143 10/01/2010 10101 /2011 $197,000 _...._._.. $7,31 $204,318 004 STORAGE /MOTOR POOL OFFICE 4795 S.W. 75th Avenue SOUTH MIAMI, FL 33143 _ 131 -F� 10101/2010 10/01/2011 $54,000 .-- ______..__..._......___._ $0 $54,000 005 SOLID WASTE BLDG 4799 S.W. 75th Avenue SOUTH MIAMI, FL 33143 7OT frame 10/01/2010 -_.__..._ —.._ 10/01 /20t1 $103,500 __..._'_ —__._ . _ $0 $103,SDO 006 CITY GARAGE 4795 S.W. 75th Avenue SOUTH MIAMI, FL 33143 -- 11 - hCNC 10/0112010 - --- - -- 10!01 /201 i $454,500 °--- --•--- •- °-- °•-- $D .$454,500 007 CITY' REPAIRSHOP 4795 S.W. 75th Avenue SOUTH MIAMI, FL 33143 119 - JM 10/0112010 10/01/2011 $63,000 $59,267 $122,267 ,)89 ro(POLICE ST RAGE BLDG 4795 S.W. 75th Avenue SOUTH MIAMI, FL 33143 1 0/01 201 0 70/01 /201 t $18,900 $D $18,9D0 DANTE B, FASCELL PARK / TENNIS PRO SHOP a RESFROOM w 1.• 8600 RED ROAD SOUTH MIAMI, FL 33143 131 - FR 10/01 /2010 10/01/2011 $1,106,000 -.__._ $0 $1,106,OD0 010 D TE B FASCELL PARK - 2 GAZEBOS 8600 RED ROAD SOUTH MIAMI, FL 33143 10/01/2010 10/09/2011 $65,000 __.__..._ "._..�- . - .— ._._ .__ SD $65,000 011 I_ DANTE B FASCELL PARK - 6 HAR TRU TENNIS COURTS m, c.,,. �,..,r, -.�r. 1.,1, , 1,.1,. 8600 RED ROAD SOUTH MIAMI, FL 33143 152 10/0112010 .__._. 10/07 2011 $123,500 _ ___..._._......_...__........._ SO $123,500 _ Ereferred GOVERNMENTAL INSURM'CETRUST Property Schedule Agreement Period: 10/01/2010 through 10/01/2011 C 1—ty-0—f—So—u-tW Miami Agreement. No.: PK FL1 0132021 10 -01 Agency: Brown Et Brown, Inc. Unit N Description - Address Year Built - .-- - - -• -- Const Type Eff. Date Building Value --- ••• -_.-_ 0000.- ._..._...._... _....._._.._. Total Insured Value Term Date Contents Value Roof Covering Covering Replaced Roof Yr Bit Roof Shape Roof Pitch 012 DANTE B FA5CELL PARK ! PLAYGROUND ($6,500 8600 RED ROAD SOUTH MIAMI, FL 33143 ' --. -- -.-• 6. -701 -Frame 10/01/2010 ..0.1_ -i /20_..._ 10/01!2017 $104,000 .- ......_____........_......._. $tl $104,000 013 DANTE B FASCELL COMMUNITY STORAGE 8600 RED ROAD SOUTH MIAMI, FL 33143 "� 13f- FR_. 10/01/2010 __..._._ ....._._..._.___..- 10/01 /2011 $63,000 .- ..._.___.. $0 $G3,000 014 FUCHS PARK PAVILION ($455() CONTENTS INCLUDED) 6445 SW 81 STREET SOUTH MIAMI, FL 33143 107 Frame 10/01/201 -- 10/07 /2011 $31,000 $ $31,00 015 FUCHS PARK P YGRO ND &SWING SETS 6445 SW 81 STREET SOUTH MIAMI, FL 33143 M 10101/2010 10/01/2011 $70,769 $ $70,769 016 PALMER PARK - FIELD STORAGE BUILDING 6445 SW 81 STREET SOUTH MIAMI, FL 33143 _..__.__,� 10/01/2010 -_ 10/01 /2011 $45,500 ...�_.__.._- .__.....____... $0 $45,500 017 PALMER PARK FOOTBALL STORAGE BLDG 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33743 ' ---..- _...... - 119 =JM 10/01/2010 ___— _....---.._.......____..._._..- 10/01/2011 $75,000 -0066.. $45,730 $120,730 018 ALMER PARK FOOTBALL STORAGE ROOM 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 -. - .- __ -__. 119 -JM 10/01 /2010 __..._._$19,5_ 10/tlt/2011 $33,000 $19,500 $52,500 019 PALMER PARK FIELD HOUSE 6701 5W 67TH AVENUE SOUTH MIAMI, FL 33143 - - -•- 1- 19 -Jt�i 10/01/2010 - - -_ -- 10/01!2011 $109,205 _- .........- ...__......._ —. $9,147 $178,352 020 PALMER PARK PLAYGROUND 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 r-f61------rFa-Mff-F 10/01/2010 ----- ----$26,000 10/01!2011 $26,000 021 PALMER PARK /4 PICNIC TABLES 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 10/01 /2010 10/01/2011 $3,120 $0 022 PALMER PARK /3 BBQGRILLS 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 ... 1> 'L -- NC.- 10101/2010 ._'i 10/01/2011 $780 _...$ $ $78 peen Property Schedule Agreement Period: 10/01/2010 through 10/01/2011 GOVERNMENTAL Uty of SouEh Mramr INSURANCETRUST Agreement No.: PK FL1 0132021 10 -01 Agency: Brown & Brown, Inc. Description Year Bulit Eff. Date Building Vatuo Total Insured Value Unit # Address Const Type Term Date Contents Value Roof Covering Covering Replaced I Roof Yr Bit Roof Shape Roof Pitch 023 PALMER PARK 1 1200 FT OF 5FT HIGH FENCE 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 Ri 10101!2010 ------------------------ 10/01 /2011 $13,000 ______�. $0 $13,00 024 PALMER PARK - 1000 FT OF 1OFT HIGH FENCE 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 ---- .____.._ 152 - NC 10/01/2010 _.___..._.._ .._...._.._...._- 10/01/2011 $16,900 __.____...___. $0 $16,90 025 PALMER PARK - RESTROOM BLD 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 119 - JM 10/01!2010 ._._.._ ----- ..— 10/01/2011 $84,600 __.___..__..._......__.___. $0 $84,60 026 PALMER —PARK- CONCESSION BLDG 6701 SW 67TH AVENUE SOUTH MIAMI, FL 33143 -114 Jt-Sv - 1010112410 —'-.-------_..- 10/0112011 $54,000 .---- ---_--- .._._..�...._.._,. 0 $ $54,000 027 OFFICE !POLICE SUBSTATION 6900 SW 59TH PLACE SOUTH MIAMI, FL 33143 11`9 - J�A T 10101!2010 $0 ___ __�...._._.__._...__.._— __..... $28,665 10 /ot /2011 $28,665 028 BREWERPARK. 2 RACQUETBALL COURTS 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 ._. - __._ -.._ 119 - JM 10/01 /2010 ____... 10!01 /2011 $28,665 .�._..- __.......__- $0 $28,665 _ �- 029 BREWER PARK - 1/2 BASKETBALL COURT 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 -- 7 79 - JM 1 0101 /201 0 ._.�__._.- 10 /Ot /2011 $13,000 .._._.__....__..__....__...._— $0 $13,00 030 BRE ER PARK - P YGROUND AND SWING SET 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 152 -'fJfT 10/01 /2010 $34,1 --- .--------- •_._.__....._�__.__ $34,125 10!01 /2011 031 BREWER PARK -48E CHES 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 ,_.._....___.. 152 - NC 10/01/2410 10/01/2011 - `._.__...__._._..._. $1,560 $0 $1,56 REWER —PARK -2 BBQ GRILLS —� - -� 10/01/2010 $520 $520 032 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 _ 152 --NC '- __...___ __....___.__.__._........_.._ 10101/2011 $ 033 BREWER PARK - 2 TENN S COURTS 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 ___ 1 19 - 3(J-' 10/01/2010 10/01/2011 $52,000 ^- __ ~�Y $O mgE*Property Schedule Agreement Period: 10/01/2010 through 10101/2011 City of Sauth /Yiiaml INSUAMCETAUST Agreement No.: PK FL1 0132021 10.01 J Agency: Brown 3 Brown, Inc. Unit # Description Address Year Built ""— " �'7erm Cont Type Eff. Date Building Value Total Insured Value Date Consents Value Roof Covering Covering Replaced Roof Yr Bit Roof Shape Roof Pitch 034 BREWER PARK • 46UFT OF LOFT HIGH FENCE 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 - - " "i5i = NC 10/01/2010 10 /Ot /2011 $7,800 SO $7,80 035 BREWER PARK - 36OFT OF 5FT HIGH FENCE 6300 SW 56TH STREET - SOUTH MIAMI, FL 33143 "1'82 - NC'�__._...__._.. 1 0101 /2010 10!01/2411 $3,900 .__. $O $3,90 036. BRR PARK • 2 PICNIC TABLE 6300 SW 56TH STREET SOUTH MIAMI, FL 33143 752 - NC 10/01/7010 - - -- 70/01 /2011 $1,560 ----------------- •_._." $O $1,56 037 MURRAY PARK COMM ITY CENTER 6701 SW 58 PLACE SOUTH MIAMI, FL 33143 _..._..._.__ -.._ 117 -MNC 1 0101 /2010 ._____.__." 10/01/2011 $360,000 .._____._.....__..�__...._._ $0 $360,000 038 — HOPEBUTLERACTOATY CENTER 6701 SW PLACE SOUTH MIAMI, FL 33143 10/01 /2010 10/01/2011 $220,500 $0 $220,500 039 OFFICE t POLICES BSTATION 5975 SUNSET DRIVE SOUTH MIAMI, FL 33143 ' -'1'i9 JM 10/01/2010 _.— .. -._ -- 10!01/2011 $0 ___.._.__..._..,_._..__._._. $32,500 $32,500 040 CITY HALL / POLICE 6130 SUNSET DRIVE SOUTH MIAMI, FL 33143 171 -MNC 10/01/2010 10101/2011 $3,470,000 $395,472 $3,865,47 041 SiLVAMARTIN BLDG 6130 SUNSET DRIVE SOUTH MIAMI, FL 33143 10/01/2010 $438,000 _....___ 10/41 /2011 $56,706 $494,706 042 SOUTH MIAMI COMM CENTER / GYM 5800 SW 66 STREET SOUTH MIAMI, FL 33143 '� {{fTMNC 10/012010 .-__._._._.. 10/01/2011 $4,160,000 " "....._._. __. ........_.___._. - $390,000 $4,550,000 043 SOUTH MIAMI PARK YMCA / POOL 4300 SW 66 STREET SOUTH MIAMI, FL 33143 -- -7;19 : -- 10/0112010 -- • —__ "_ 10/01/2011 $195,OW . _._._.,_.._._.— . "_...._,_.._... $O $195,000 ,, 044 / J N WILLIS SPARK / GAZEBO 7220 SW 61ST COURT SOUTH MIAMI, FL 33143 i01 -- Frame 10/01/2010 10/01/2011 $19,500 " "- -- — "� "_.__.�_..... $0 $19,500 ftefqmd Property Schedule Agreement Period: 10/01/2010 through 10/01/2011 ecEmusr ctiy of Sout Miamt Agreement No.: PK FL1 0132021 10 -01 Agency: Brown 8 Brown, Inc. Unit# Description Address Year Built .___ "__.__._"_ Const Type Eff, Date ._..__..._ ...... ......._.___- TeYm Date Building Value .-"-._.... "_...._. Contents Value Total Insured Value Roof Shape Roof Pitch Roof Covering Covering Replaced Roof Yr Bit 0 MARSHALL WILLIAMSON PARK / GAZEBO 6121 SW IA 68 STREET SOUTH MIAMI, FL 33143 - " -t52 = NC 10/01 /2010 10/01/2011 $65,000 $0 $65,000 _ 046 MA SHALL WILLIAMSON PARK! PLAYGROUND AND SWING 6121 SW 68 STREET SOUTH MIAMI, FL 33143 `1�2 = NC 10/01/2010 10!01 /2011 $32,500 �__._...._.___.__._...___ $ $32,500 047 MARSHALL WIL IAMSON PA / 3 BENCHES 6121 SW 68 STREET SOUTH MIAMI, FL 33143 - 752 =NC� � 10/01/2010 10!012011 $1,170 _._. $0 $1,17C 046 MARSHALL WILLIAMSON PARK / 4 PICNIC TABLES 6121 SW MIAMI, F 3 SOUTH MIAMI, FL 33143 ' "'7 NC' 10/01/2010 ._ -_.— 10/01/2011 $3,120 ___. "_._._...___ ".__._......_.. $0 $3,120 049 VA SMITH PARK / RESIDENCE BLDG 7800 SW 59TH AVENUE SOUTH MIAMI, FL 33143 .,- ___.w- 119 - JM 10/01/2010 -_ -_ —_ " 10101 /2011 $253,000 .___.__......__..__.._......... $0 $253,000 050 ALL AMERICA PARK ! 3 PICNIC TABLES 6820 5W 64 AVENUE SOUTH MIAMI, FL 33143 152 - NC 10/01/2010 10/01!2011 $7,000 $0 $700 GIRL SCOUT PROPERTY 6609 W 60 STREET SOUTH MIAMI, FL 33143 101 - prame 10/01/2010 10/07/2011 $130,000 $0 $130,000 052 PARK NG GARAGE SW 58TH COURT & SW 73RD STREET SOUTH MIAMI, FL 33143 152 = NC 10101/2010 __--._.. 10/01/2011 $5,000,000 .-_"-......._...__ ".__._._.._.. $0 $5,000,000 Total: $17,899,194 $1,049,792 $18,948,986 Universal Coding. (GASB 34 Compliant) Page 14 January 17, 2011 Appraisal Agreement Revised Addendum No. 2 - Universal Coding (GASB 34 Compliant) City of South Miami Jnc1u.4tr1a1Jpprai .4aC Company Information Technology Two Gateway Center 603 Stanwix Street, Suite 1500 Pittsburgh, PA 15222 412 - 471 - 25661800- 245 -2718 www.indappr.com j UNIVERSAL CODING for Property Record, Fixed Asset Appraisals �3 ME SPhYJ�GE DESGRIPTIONY LAND, IMPROVEMENTS, BUILDINGS /STRUCTURES, INFRASTRUCTURE Land 01 N/A N/A Site Improvements 02 20 +/- 00 Buildings 03 40 +/- 00 Leasehold Improvements 04 20 00 Infrastructure 05 50 +/- 00 I BUILDING ITEMS /PERMANENT FIXTURES Stained Glass 06 — Stained Glass - Fine Arts 07 — — Chandeliers /Sconces 08 — 10 Pipe Organs 09 — 10 j Statues 10 — -- Bells /Bell Carillons (Bldg.) 11 — — Murals /Icons 12 — Architectural Fine Arts 14 -- — Permanent Fixtures 21 20 00 Bowling Alley /Pinsetters 22 20 10 Carillon (PF) 23 20 10 Permanent Fixtures — SV I 25 N/A N/A Page 15 .ii:,�uGial.�ppai�ui('.onpa January 17, 2011 Appraisal Agreement Revised Addendum No. 2 — Universal Coding (GASB 34 Compliant) City of South Miami EQUIPMENT Machinery/Shop Equip. 30 15 10 Construction Equipment 32 15 10 Refrigeration Equip (Ice Rink, etc.) 34 15 05 Equipment 38 15 05 Office Mach & Devices 44 08 00 Audio Visual Equip 45 06 05 EDP Equip 46 05 00 Telephone System 47 10 00 Laboratory/Science Equipment 48 10 10 Medical /Hospital Equipment 49 10 10 Firearms 50 20 20 Food Service & Appliances 51 15 05 Communications (Radio/TV) Equip 52 10 05 Sacred Vessels/Vestments /Altar Linens 54 10 10 Books, Periodicals & Materials 55 7 10 Fine Arts 56 N/A N/A i Music Equip & Instruments 57 20 10 Manufacturing Piping 58 20 00 Process Piping 60 20 00 Power Feed Mains 62 20 00 Vehicles — Police — Acq. Only 63 2 05 Mobile Equipment 64 12 05 Vehicles — Licensed -- Acq. Only 66 8 10 Leased Equipment 67 N/A N/A "On Board" Vehicle Equipment 70 10 05 Maintenance & Grounds Equip. 72 15 05 Books & Periodicals "OV" 80 7 w /cost N/A Dockets & Maps "OV" 81 7 w /cost N/A Law Books "OW 82 7 w /cost N/A Molds - Dies - Fixtures "OW 83 N/A N/A EDP Software or Equip. "OV" 84 5 w /cost 00 AV Software or Equip. "OV' 85 6 w /cost 05 Miscellaneous Equip. "OW 86 10 w /cost 00 Musical Instruments "OW 87 20 w /cost 10 Uniforms "OV" 88 10 w /cost 10 Stated Value Equipment 90 N/A N/A Athletic & Sports Equipment 91 10 10 Educational & Janitorial Supplies 98 N/A N/A "Optional" Description i 99 Optional Optional Page 16 January 17, 2011 Appraisal Agreement Revised Addendum No. 2— Universal Coding (GASB 34 Compliant) City of South Miami OPTIONAL SERVICE ADDENDUM NO.3 General Tagging Procedures Page 17 January 17, 2011 Appralsal Agreement Revised Optional Service Addendum No. 3— General Tagging Procedures City of South Miami Jndtio%ial JppNaijal Company General Taaainci Procedures The Industrial Appraisal Company recommends the following tagging procedures. Variations on tag placement are welcomed, but any desired variations and /or unique tag placement must be discussed with the Appraiser prior to the start of the field inventory work. EASE OF IDENTIFICATION Tags will be placed in consistent locations on similar assets. Consistency increases the ease of identification by internal staff and outside auditors. 2. DETRACTABILITY The tag placement will take into consideration the appearance of a tagged asset in specified high visibility areas e.g., Executive Offices. The appearance of an asset should not be compromised by placing the tag on an area that will diminish its appearance. 3. NO OBSTRUCTION OF WORK ACTIVITY Tags will not be placed on movable parts, protective glass covering readouts and measurements or on safety decals. 4. PHYSICAL CONVENIENCE On assets that are bulky or heavy and would require movement to access the proper location, tags will be placed on the most convenient location. Tags will be placed on a flat surface to insure readability by a hand -held scanner. 5. EQUIPMENT AND RECOMMENDED TAG PLACEMENT The following lists various assets and the recommended tag placement. Page 18 9kluGial...Bpp.oiwl(',on'P°"`! Appraisal Agreement Revised Optional Service Addendum No. 3— General Tagging Procedures City of South Miami January 17, 2011 GENERAL FURNITURE Description Tag Location Code Desks KW Chairs / Swivel (Executive- Secretary) PB Chairs / Stationary (Slide, Open Arm, LNG) IL Credenza ULF Bookcase ULF Cabinets (File, Storage, Supply) ULF Shelving ULF Table (Conference, Work, Library) IL Table (End, Coffee) IL Sofa, Settee IL Air Conditioners (Window Type) ULF OFFICE MACHINES Description Tag Location Code Computer Monitors ULF Computer Processors ULF Typewriters LC Calculators and Adding Machines S Copiers and Duplicators S Accounting Machines NP Time Stamps ULF Mailing Machines NP Dictators and Transcribers S Microfilm Readers S Imprinters NP B BOTTOM C COVER F FRONT I INSIDE KW KNEE WELL L LEFT NP NUMBER PLATE P PEDESTAL R RIGHT S SIDE U UPPER Page 19 .9,✓uebial.�6ippa.+ai�mp 1 Appraisal Agreement Revised Optional Service Addendum No. 3— General Tagging Procedures City of South Miami January 17, 2011 nz1Wtrial _/�pprai.4aC ( orrcpany - -- FORM 311 nnv- J Corporate Office Two Gateway Center 603 Stanwix Street, Suite 1500 Pittsburgh, PA 15222 800.245.2718 412 - 471 -2566 www.indappr.com Please Forward a Copy of the Appraisal Summary to our Insurance Advisor Listed Below: Advisor's Email Please indicate if you wish to have a copy forwarded to your advisor electronically each year: Yes o No o Name: Company: Address: Name of Appraised Property: Signature: Print Name: Date: Telephone: Form 311 .�nduetda�,..�lpprai�aiC'onpu„y 5-og Page 20 January 17, 2011 Appraisal Agreement Revised Form 311- Agent Authonzation City of South Miami