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2To: From: Date: Subject: Background: Expense Account: CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM The Honorable Mayor & Members of the ~i~ommission Hector Mirabile, PhD, City Manager ! 11 ~ October 18, 20 II Agenda Item No.: ~ 2001 A Resolution, relating to appraisal services; approving fees for American Appraisal in the amount of $5,800; charging account No. 001·1320·513-3450. 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. The City received the following three (3) responses for re-inventory: American Appraisal for the amount of $5,800, Industrial Appraisal Company for the amount of $9,700 and AssetWORKS Appraisal for the amount of $14,900. Below please find the proposals obtained by the City: Company Name American Appraisals Industrial Appraisal Company AssetWORKS Appraisal Amount $5,800 $9,700 $14,900 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. A multi-year agreement for appraisal services will be pursued through open competition for subsequent fiscal years. $5,800 001-1320-513-3450 with a current balance of $5,800. Attachments: • American Appraisal Proposal and Agreement • Industrial Appraisal Company Proposal • AssetWORKS Appraisal Proposal 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 RESOLUTION NO. ___ _ A Resolution relatiug to appraisal services; approving fees for American Appraisal in the amount of $5,800; charging account No. 001-1320-513- 3450. WHEREAS, the City is required to comply with Standard No. 34 of the Governmental Accounting Standards Board (GASB) concerning Fixed Asset Accounting and all other 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; and WHEREAS, the City received the following three (3) responses for re-inventory: American Appraisal for the amount of $5,800, Industrial Appraisal Company for the amount of $9,700, and AssetWORKS Appraisal for the amount of $14,900; and, WHEREAS, American Appraisal's proposal provided an option to inventory and tag assets for subsequent audits at a fee of $5,800; and, WHEREAS, in addressing the auditors' findings, the City recommends awarding this 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 pursuant to their correct and corresponding categories as per the City's inventory and capital asset policy and will provide said data in a format compatible for upload into the OneSolution Accounting software; and, NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA, THAT: Section 1. That the City Commission approves and authorizes the expenditure for American Appraisal for re-inventory in the amount of $5,800 and charging Account No. 001-1320- 513-3450 with the current balance of $5,800. Section 2. American Appraisal will be responsible for the tagging of all items, and the classification of all capital assets pursuant to their correct and corresponding categories as per the City's inventory and capital asset policy. Section 3. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this __ day of _____ ., 2011. ATTEST: APPROVED: CITY CLERK MAYOR READ AND APPROVED AS TO FORM, COMMISSION VOTE: 1 2 3 4 5 6 LANGUAGE, LEGALITY AND EXECUTION THEREOF CITY ATTORNEY Mayor Stoddard: Vice Mayor Newman: Commissioner Palmer: Commissioner Beasley: Commissioner Harris: American Appraisal Associates, Inc. 883$ Westmoreland Lake Drive, Cornelius, NC 28031 direct .704 439 25151 mobile 704 953 9780 fax 704 439 0384 Leading I Thinking I Performing October 10, 2011 Mr. Steve Kulick, C.P.M Purchasing Manager/Central Services City of South Miami ·6130 Sunset Drive South Miami, FL 33143 Dear Mr. Kulick: 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 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) Infrastructure at $250,000 and above 5) 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 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 I Transaction Consulting I Real Estate AdVISOry I Fixed Asset Management City of South Miami October 10, 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 The City will provide us with a list of new assets acquired in excess of the City's $1,000 threshold and assets retired since our last on-site inventory in January, 2011. We will tag the new assets in excess of the City's $5,000 threshold for GASB 34 purposes, and $1,000 for property management and control purposes. We will also delete the retired assets from the existing inventory and conduct a random inventory sample of the assets previously inventoried. Buildings We will inspect any new 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 new land improvements including improved parking lots, signage, outdoor lighting, and fencing. Infrastructure We will compile data provided by the City related to new 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 new land parcels 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 October 10, 2011 FEE American Appraisal The fee is $5,800, including expenses, plus the cost bf bar code tags, which we will order on behalf of the City. Our fees will be invoiced as follows: • $1,750 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. TIMING AND DELIVERABLES 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 by November 30, 2011. 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, Lori C. Flemming Managing Director Leading I Thinking I Performing Client of Record: City of South Miami -2011 GASB 34 Study Signature: ________ _ Name: Title: Date: 3 City of South Miami ?~ October 10, 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 rnodify 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 (i) 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 by the 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 I Thinking I Performing 4 City of South Miami October 10, 2011 EXHIBIT B -PROPERTY SCHEDULE American Appraisal pypi'erred Property sehedu,,"~e~~ ________ ---,Ag:..ree_m_en_t_Pe_ri_Od_: _10_/O __ 1_12_0_10_t_hr_ou.;:8h_1_0_/O_1_12_01_1 _ r:J=~ City o"f$iiiiffi7fhaml Agreement No.: PK fL1 OU202110-01 Agenq: 8rown a Brown, Inc. Unit 11 Add;"" .. v""''''ff' Elf.""'" ""lid'". v.,,, I Total Insured Value .V"" 1 I ROOf""" Con~Typc I I RoofY,BIt 001 ~~:~':" $44.OO~ $ ..... 00' ';ii-;;l<' 'MNe "I . I~ I 1 I CAAO"" ,,' S"2.0001 $447.4&' 002 ST -Mile" 1'l..33143 $5,'871 I I I • Ol"~ '"I1d1" S197,OO~ 120'.3" 00' 4795S.W. 75thA~llue -\,\ ",. 'S7,3"1 SOUTH Mtf,Ml, F'L 33143 1 I 1 00' h A"';~' SOLITH '"AM'; FL-i;"3 'm e -,.- ' _, __ ,_ S54.oool ' soj S54,OOl I I I s103,,001 "03,"" OOS 4795 S.W.·75th Avenue "~'''me .. , ... 'oj SOUTH IIMMI, FL 33143 r I I I~~~~~"G' """oof ,'54,SOI 00. --;'MII< . '" .". '" Sol ;'ii3;;'; 1 1 I "HOP S63,oool '122.26 007 .. "' ,-, I SOUTH MlMII, FL 33143 -J. SS'.Z6~ 1 1 1 ,"UlG $""OOj S1~'O 008 4795 S.W. 75th A~nue SOUTH MtNM. fL 33143 -J. ,0) I--- E'314' I I I 0 00. -"'-rn ..·.n '" "I I 1 I I OANT' " FASCELL PARI< • , 0"",,o5 '65,Oooj ,65.0. 010 I S"",ji'MIMii;fL 3314' '15' -lie Soj I I 1 ~ .... ",,"' TRU lEliNIS COURTS "23,SOoj $123,5. 011 ~L33143 ""He '" , $01 I I I I LeaOlng I I mnKlng I t-'errormlng City of South Miami October 10, 2011 PrImed Property Schedule -,~""".'" City of South MIami lRW ~~t'W[£tmST Agreement No.: PK Fl1 013202110·01 A$enCY: 6rO'l'm'li 5roWl'l, Inc. Description Year Built Unitt _ .. _ .. _._- Address ~orShape I R(lQfPitch ConstType ~~~r~.w.~;;'~~~~RK I • (>6,,,," 012 8600 RED ROAD "foT7"Frnme SOUTH MIAMI, Fl33143 1 Am, IIMU_ITY "OMOO 013 8600 RED ROAD IfFr~-· SOUTH MI/-NJ, fL 33143 I 'VC", <A"" ·A"PVN ,,4'~ CON, ENTS ,NCloDE., 014 6445 sW 8,1 ~TRE£T "'mr~'f!iame' SOUTH MIAMI, FL 33143 I ) tt ~yllNG SETS 015 6445 SW 61 STREET ··-H''-:'M-· ~OUTH MI~I, Fl. 33143 I PAlMER PARK -fiELD STORAGE WiLDING 016 6445 SW 81 smEET ··-rl"'-Nt··· SOUTH MIMI, fL 33143 I PAUA<RY""K ~, ",,"G 017 6701 SW 67TH AVENUE ···TW·=· SOUTH tlJAAJ, fL 33,143 I 0," 6701 SW 67TH AVENUE ·-'i~·::Jl\ SOUTH MIMI, FL 33143 r .. "u.MtK yAKK t1.'lD HOUSE 01. 6701 SVl67TH AVENUE -··1rFJir SOUTH MIMIJ FL 33143 I 020 6101 SW 67TH AVENUE "rnr7fram~ SOUTH MIAN.!. FL 33143 I • Y""'L ""''''' 021 6701 SlI67TH AVENUE ···'~FHC·· SOUTHMiMU, FL33143 I P , ,,,,,,,ORI,,,, 021 6101 ,SW 67TH AVENUE '-i"52':-NC-' r SOUTH IIMI, FL 33143 1 .- Leading I Thinking I Performing American Appraisal Agreement Perfod: 10/0112010 through 10/0112011 Eff. Date-8u1ldlne Value TotallnsuredValue 1-• .,----..• ····'-Conteni;\Taiiie·-·· Term ~te Roof Covering I covering Replaced I Roof Yr Bit 10/0t/2010 $104,000 $104,0. r:----···· --..... ,,"_ . . -.... -.,--..... ~ 10(0112011 $ 1 I 10tOl/1010 $63,0 $63,0. •.. _M.,_ .. _,_·, " •••• H' •• _''' .•• H''.~_._, ___ ~ • 1010112011 I 1 I 10/011201 $31,000 11I,0. -'--"'~"~~-~---" 10101/2011 I 1 I ~?~?~!:.?~~I $70,'691 $70,76- 10/01/2011 $~ I I 10lOi12010 $45,500 $4S,5<X ---. __ . __ .... _-_ .... , ........... _- 10/0112011 $ . I I 19101/2010 $75,000 S120,iJ( .~.~~.,~ .... , ..... ,., ... ,..-" ... --~.,,----.-, 10/Ql1201J $4$,7)0 I I 10fOl/z010 $33,(j{)0 $S2,50( .. ~ .. -,.-... ~ ..... ,." ........ " ........ __ .... ..,-_ .. - 10/0111011 $19,500 -I I 10/0112010 $109,205 fOiOii'iot 1 --.. _._--_ .... _ ... __ ._ ... $9,141 $118,352 -I I 1019112.0:10 S26~(l(){l ~:----._-----_ .•...... _ ... _._.-$26,000 10/0112011 SO . I I 10/0112010 $3,12 ..... -.. -.......... .. _ .. _-_._._-----$3,120 10/01/2011 SO 1 I 1010112010 $76 -_. __ ._ .... -$7& 10/01120111 $ 1 I 6 City of South Miami October 10, 2011 Preferred Property Schedule ...., ~~""" Cit" of South Miami ~ l!ISt.'R-4n(Hf.IiST " Agreement No.: PK FL1 01320Z110·01 Agency: Brown & Brown, Inc. Unit # Desenptlon Year 6ullt Address .. _ •. _- ROofSbape I Roof Pjtch Canst'Type PALMER PARK 11200 fT OF 0,3 6701 SW 67TH AVENUE "'-m-:'~C' SOUTH MlMlI, Fl33143 1 '~\,",A=' 1~" .v, ,~r HIOH "NCE 02' 6701 SW 67TH AVENUE ·-f5r.f!r:" SOUTH MlMlI, fl,. 33143 --I l"'AU'o1ER YAltI\.· l\tSTROOM 8LD ." 6701 SW 67TH AV£NI)E ··'1Trr.-fi'X"'· SOUTH MIIJId. Fl33143 1 II'AU,\ER. PAKI\» C Bl.OG 02. 6701 SW 67TH AVENUE .... 11.·' .. )/C SOUTH MIAMI, FL 33143 I 027 I 0'''''' I 'oLM 'UO', A> ,ON 6900 ,SW 59TH PlACE SOUTH INNlJ, fL'33143 ...... ,,,.-JI/:- 1----' I 'REWER p""". Z RACQUET""" CuuR,S .,8 6300 SW 56TH STREET "1'i<r:"j/X-' SOUTH MiAMI, fL 33143 I , .. WER PA'" • '''.'A'''EToA'' WUK> .29 6300 SW 56TH STREET .... II':JM .. · SOUTH MIAMI, FL33t43 1 I "''"'" ,ARK· P''''"KooNa ANO ,lVINu,ET "'W;-::1ll:-.,a 6300 SW 56TH STREET SOUTHMiMlI, Ft33143 f-----I RE. ,iER PAK/\ • "I-IStN\..Ht::. a31 6300 SW 56TH STREET ·-wr.mo" SOUTHMIAMJ, f1.33143 1 ., ·2 031 6300 SW 56TH STREET .... rs!"~C· $OllTH'MlAMI, FL 33143 .1 K ~ 2 TENNln.vURc:> 033 6300 ,SW 56TH. mEET '-f1<j':-JA\- SOUTH MIAMI, fL 3:].143 I 1 Leading I Thinking I Performing American Appraisal Agreement PerIod: 1010112010 through 10/0112011 Eff.oate;f" BulIdlngVa!uo '-i TenTiMjjaiu "'·· .. ~"-coniiili$v8iii'e .. -Total lnsurtn:t Value Roof-Covering I Covering, R<tplaced _I Roof Yr Bit 10/01f'0~1--S13'O~ 10;01';2'011 ""~"'~"'''''''"''''~_''''_M __ ''$_ $13.000 I I 10/0"~i~. S\6'9~j 1(~(OI;20'1 --_·····_· .... ,,-_ .. _-,· .. · .. ,,$0 SI6,'" ! 1 '~~~:~~~~f'" S84'6~ $84,60< ....................... --'$. 1010112011 1 1 10/O!l'01~1 SS4'O~j 10ii:ilizol1·~·---"··-·-----"--$O $54,0. .1 1 10'01"01~1' :~~ "1o;oi'noTi -"---'--"S28;~65 $28,1165 r---I I laIOll2m~1 S"'~ 1Q/OI/ZOU $ S28,66S I I :~;~:;~~::j .~~ $ $",00< 1 I ~~/01~~._ .... "_" __ ._.~~~~j $)4,12 10/Gl/tOH $0 1 I 10101l201~1' SI':~ '10/0I·nOl1---.. --··_· __ .. __ · ... _ .. -.. ··-S $1,561 I 1 10/01"al~1 $~~ '10ioi7i~i1-~;"-~-~'-----'--'-$ S52 1 1 10/01f2~~~ $52'O~ 1olo1i'iOli -------· .. --'$0 $52,00 1 1 7 City of South Miami October 10, 2011 Prelerred Property SChedule l!IIi! :1='·:Ii". City of South Miami American Appraisal Agreement Pertod: 10/0112010 through 10/011.2011 Agreement No.: PK FL1 013202110·01 Age-ncy: Brown Ii Brown. Inc. Description Year Built Eff. Date ;1" BUilding Value ... ~ Total InSured Value Unit If .. -.--.. --.~ 'TermTat:e ""'-'''-''(:onleilhV;lu~'''' Address CohStType Roof Shape I RoofP!tcb Roof Covering I Covering Replaced I RoofYr Bit BREWER PARK· "'w, 0, ,'" f NIGH EN" 101011201,:1, S7'~~ $7,8ru 03' 6300 SW 56TH STREET "~l~'Foc"'" 10fO'i;20i;' "'''''''''',w''''_'''''~'"''''''~''/'~$' SOUTH mNl.I, FL 33143 I I I ,,,,WE'PAIlK .,~" """ n,GH FENCE '01011201,:1" S3:~ S~.9ru 035 6300 SW 56TH SfREET '-m--:-RC ','0101,2011 _. ~-... _~ .. _n_"·_~~~'~·So SOUrHMlAMI. FL33143 1 1 1 ,""v.",~" "".1, .. ,~, 'O/01l20I~I' SI'5i~ SI,5~ 036 6300 $W 56TH STRfItT ~l:"-10/01t2011--,w"--'-'----$ SOUTH MIAMI. FL33143 1 1 1 ~"M' PANK, ,0IMlUNln ,~,~ 10/~1J20~t,,_~~" ___ ,_-,::~~~ $300,00< 037 6101 SW 58 PLACE -'i1"F'h\kt~ SOUTH MIAMI, 'fL 33143 10/0112(111 SO I 1 1 HOPE 6lfTlEK: ACTIVITY CENTER 10/01120101 S22°,·""'1 1220,501: 03$ 6701 SW 58 PLACE SOtml MIMlI, FL. 33143 .... fl9"7JM 10/01.120111 S~ I I I "',,'" I yuL,,' 'U'''Auu" 10/0112°';'1" '5~ $32,50 039 5975 SUNSET DRIVE '''''II,:3Ir ·1oIo1/2011·H'-'-"-"-'··"·-" .. ····~·$32,5· , SOUTH MIMI. fL 33143 I I 1 Clll ttAU.1 POUl.t 10'0112O:~1' $3'470'7~ S3,86~4T. 040 61,)0 SONstT DRIVE '11r.J.\l1"C 1o!oiiiOi'1 H-'"'-"~-"-$39S,4n SOUTH MIAMI, Fl33143 I 1 1 .owa 10101l2~;t_ $438;~ 1494,7~ 041 6130 SUNsrr DRIVE -TI9-:JM' SOUTHMIMU, FL33143 101t}112011 $56,706 I I I Q 'OI01l201'r' $4, '~~ 042 5800 SW 66 STREET "ffF1IJ'I[-1010'112011 ,,,,,,-,"'~'''H'",H'''''Hs'i9{):OOO $4,550.000 SOUTH MIAMI, fL33143 I 1 1 'AKI\ YM\.A I POOL ~~~~w __ .. , ___ $:,~~ 0" 4300 SW 66 STREET Hl1'ij'":j'M:-' $195,00 SOUTH MlAMI,.FL 33143 10/01n01i SO ._---1 1 1 ',044 J~ ., ..... "'HM.' ",,,,"u ,'tJ1-:-rra-me 10/01/i0101 ' $,.,5001 11',50( 7220SW 6fST COURT 1o/oi/iim l sq I J S'OVTH MIAMI, n 33143 1 1 1 Leading I Thinking I Performing 8 City of South Miami October 10, 2011 Premed Property Schedule H ~=iiI\l city of South Miami Agreement No.: PK Fl1 013202110·01 Agcncy: Brown 6: Brown, Inc. Unit' DoscriptIon YearBtJllt Address ....... _ ... ~h._~_ ConstType Roof Shape 1 Roof Pitch 045 6121 SW 68 STREIT "'-;-SFNC SOUTH MIAMI1 FL 33143 1 ~)MALL wILl ... IAf'f\:lUN YAK/\, f t'l.Al\:JKuvNv ANu SW NG "'. 6121 $VI 68 STREET --T!F~C' SOUTH MIAMI. FL 33143 [--. I MARSHALL WllLTMlSON PM'" '''NLH'' 047 6121 SW 68 STREET -'l~FNC-"' Solml MIAMI, fl13143 I I MARSHALL WILlIM\SON PARK I " PICNIC T ABLfS 04. 6121 SW 68 STREET ""Wr:-NC-SOUTH MIM.I, FL 33143 I 'A" ~\" n '"'" I ,ESIO"'eE ,LOG 049 7800 SW 59TH AVENUE ""11FJM--SOUTH MIAMI, FL 33143 1 A .~" ."",C ,~~, 050 6820 SW 64 AVENUE . .... m·~»t"-SOUTH MIAMI, FL 33143 -' 1 GIRl. SCOUT PROPW,ll 051 li6()l) SW 60 STR£~ fO-r:-rnrne SOVTH, MiMII, fL 33143 -1 pARlu,NG GARA\Jt. 052 SW 58TH COURT &: rm 13RD STREET · .. ·1·!F~t--SOUTH MIAMI, FL 33143 --1 Leading I Thinking I Performing American Appraisal Agreement Period: 101.01/2010 through 10/01/2011 ----. .----.-____ Total Insuroo VallW ,Eff. oat~e;~" 8tlll~i"gVal!Je :-1 Term Date ConrentsValtte RoofCoVerfllg; I Covering Replaced I RoofYr Bit 1OJ0112O,b S'~c~ ;010112011'---'-----------$65,00 1 1 10101l2.(}10 $3Z,5 532,5ot "-'--'-'-' ~.---.. -..... --.-.-- 10/01n011 ~ I I 10/0112010 $1.170 ._.,,,-... ,,,,, ... .... -,,"-.. ,~.-,-"'''.~'''~-~.--.. $1,17 10101/2011 S I I tOl0112010 $3,12 ._._. __ . __ .. ___ .M' ...... ~, $3,12 10/01/2011 $0 1 I 10/0112010 S253'~ iO!o1iW1 t --,----,------$253,000 1 1 10/0112010 -~ ._-,,_ ... _-.. .. ------_ ... -$7,00 10/0112011 1 1 10/0112010 $130'~ 1010112011 $130,000 1 .1 101Q112010 55,000,000 '1o/o'in01i ,--,--,,----$i S,S,OOQ,OO 1 1 I Total:1 $17,899,194 $1,04<1,792 I $18,,948,986 9 December 10, 2010 Mr. Alfredo Riverol, CPA Cr. FA Chief Financial Officer City of South Miami 6130 Sunset Drive South Miami, FL 33143 AssetWORKS APPRAISAL 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, ~~~~ Christopher Krier Regional Sales Director AssetWorks Appraisal 101 Lakeside Park 1 Southampton PA 189661215.354.1078 (v) 1215.354.1086 (I) 1 www.assetworks.com City of South Miami Proposal for Insurance Appraisal Services Offered by: sset APPRAISAL Professional Property Insurance Appraisal Services Proposal for: The City of South Miami December 10, 2010 AssetWORKS 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 Ihe reputation of being Ihe "best of class" provider. We are already a trusted partner with entilies across the United Slates having used property appraisal services in years past. • AssetWorks Appraisal is the technology pioneer in property valualion. We have Ihe most advanced system in Ihe business (AssetMAX)(TM) and offer a perpetuation capability Ihat minimizes the cost of conlinuing property valualions. • We have successfully provided property valuation and appraisal services for more than 5,000 entities across the United States, Europe, and Puerto Rico. AssetWorks, Inc. is a Constellalion Software, Inc. company. Constellalion Software, Inc. is an internalional provider of market-leading software and services 10 a variety of induslries, across bolh public and private seclors. The company was founded in 1995 and has a large, diverse cuslomer base of 16,000 cuslomers, operating in over 30 counlries around Ihe world. Constellation is an exlremely healthy organization, with consolidaled revenues exceeding US$240 million. AsselWorks is an induslry-Ieading provider of lechnology and consulling solutions for assel-and infraslruclure-intensive organizations in government, education, utilities, telecommunications, Iransportalion, heallhcare and Ihe commercial seclor. AssetWOR K S AssetWorks is an induslry -leading provider of technology and consulling solutions for asset and infrastructure intensive organizalions in government, education, utilities, telecommunicalions, Iransportalion, healthcare and the commercial sector. Our suile of Enterprise Asset Management (EAM) software solulions and professional consulting services enable organizalions to improve mainlenance practices, slreamline operations, and improve accounlability for mission-critical capital and infraslructure assets. Leveraging Ihe latest Internet, e-commerce, and mobile computing technologies, our software and industry leading expertise help our customers maximize resource ulilization, improve service delivery, and achieve subslantial and measurable cost savings. Whether you are doing more wilh fewer resources, or managing more assels wilh Ihe same amount of resources, AssetWorks provides a complete solulion. AsselWorks Appraisal offers asset management solutions Ihat embrace all aspects of capilal asset and real property tracking, valualion and reporting. Our innovative solulions help organizations to vastly improve GASB34/35 compliance, generate detailed financial reports, carry oul deprecialion and capitalization modeling, Irack property disposal, generate property insurance reports, and much more. Page 2 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami December 10. 2010 AssetWORKS APPRAISAL 1.1 BENEFITS OF THE ASSETWORKS SOLUTION We believe Ihere 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 Confidence InResults • Shorter SludyPeriod • Highly Heliabl~ and AccurateWork • Proper Stewardship olAssets Guarantee of High Quality • All Work Reviewed • Will Correct Problems, If Any Occur • Minimized Rework High Value·Added Software • Reduces Costs,-Allows Annual Asset Updating • • • Redyces Hogue PurChasing Has NumerpusStandard Reports T raining and Technicali\ssistance' SIrong FinancialPar\ner • Strong Finances.SupP9rt Guarantee of Quality • CanHaveConfidence.inCompany Commitments-,:Not A Takeover Target 1.2 EXPERIENCED PERSONNEL Features of the AssetWorks Solution I I Highly Qualified Appraisal. Staff I • ASA Certified ! • • Expertenced in Aqcounting and Insurance .over 6.000 Engagements Completed ! I Aggressive Quality Control I • Corporate Philosophy-Quality First, Profitability i Second I • Regional Manager Charged with QC I • Annual Client Survey I AssetMAXX Sy~tem I • Perpetuation Capability 1 ,,',", ,"_',:. : ! • Tracks All Assets and Locations I • Complies With GASB 34 I • Standard and Ad Hoc Reports • I .', • . Covers Buildings ForlnsurancePurposes I Toronto StockExchangeCompany I • High Integrity; PllblicCompany i • Open BriokslOpen Disclosure • In BusinessFor19Years 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 cuffing edge technology that allows us to assess, execute, and support each client's 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 December 10,2010 AssetWORKS 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 inlonnation technology (versus manual processes) was a core component of the reengineering 01 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 01 quality, honesty and commitment. Page 4 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami December 10, 2010 AssetWORKS 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 improvemenls, and land parcels. He possesses a practical knowledge and understanding of Generally Accepted Accounting Principles (GMP); Government Accounting, Auditing, and Financial Reporting (GMFR); Governfl)ental 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-Ioss infonmation 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 Deerlield 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 Cosls for GASB 34/35 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 34/35 AssetWORKS APPRAISAL BENJAMIN BUCHHOLZ Appraisal Team Pittsburgh, PA 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 (GMP); Government Accounting, Auditing, and Financial Reporting (GMFR); 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-Ioss 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 (GMP); Government Accounting, Auditing, and Financial Reporting (GMFR); Governmental Accounting Standards Board Statement 34 (GASB 34); and various other audit concerns related to capital asset reporting, Page 6 Professional Property Insurance Appraisal 8e1vices Proposal for: The City of South Miami December 10, 2010 AssetWORKS 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-Ioss 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 December 10, 2010 3. APPRAISAL APPROACH AND TECHNIQUE ApPRAISAL SERVICES & PROCEDURES GENERAL BUILDINGS & STRUCTURES AssetWORKS APPRAISAL The buildings/structures subject to our survey will be carefully inspected and measured. Professional AssetWorks appraisers will independently calculate Ihe square foot area of each building appraised Ihrough the review of "as-built" blueprinls or physically measuring each building. Building photographs will be prepared for each structure to become part of our proof-of-Ioss documentation, in addition to assisting wilh Ihe valualion efforts. A description for each building will be developed and recorded, depicting conslruclion Iype and materials ulilized. Primfl1T Construction, Occupancy, Protection, and Exposure (COPE) dftta Includes: a) Occupancy Type m) Square Footage b) oj Cejfing cj Frame 0) Partitions/Interior Walls d) Number of Stories p) Updates (Roof/Bldg) Yr. ej Condition qj He-atingfCooling Sysfems ry Roof Shape r) Roaring g) Roof Pitch .) EfeciricaliPlumbmg h) Roof Strapping I) Elevators i) Roof Type til Identify Protection Systems j) Exterior lNaHs v) Addiuonal Features k) Year Built w) GPS Coo,,"nate. I) x) Rood 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). Page 8 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami December 10,2010 AssetWORKS 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 Water/Sewer Treatment Facilities ISO Class 1 2 3 4 5 6 APPRAISAL M&S Class Description 0 Frame/Combustible C Joisted Masonry S Noncombustible C Masonry Noncombustible A Modified Fire Resistive 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 Addilional information on specific slructures/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 Ireated" MGD • Plant original construction date • Plant addition dates • Drawings for original and additional (architectural drawings) • Plant flow diagram (used 10 establish numbering scheme) • Any "contractors cost breakdowns" for construction (original or additions) • Area to work from and be able to utilize drawings Ideally, Ihe plant walk-Ihrough will be done after Ihe 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 Ihe construction classification and other building features and processing equipment. Process Piping (underground) is typically excluded from property schedules for insurance purposes, however, should Ihe 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 AssetWORKS Common processes and structures analyzed and included are: • Headworks (Inftuent Pump Station) • Clarifiers (Primary, Intermediate, Secondary) • Aeration Tanks/Ponds/Basins • Gravity ThickenerslDewatering Buildings I Belt Presses • Digesters • Filters (Trickling, Biological, UV ... etc.) • Sludge Drying Beds/Lagoonslincinerators • Laboratories • Ozone Structures • Chlorine Contact Structures • Blower Buildings • Pump Stations I Equipment Galleries Historical Properties & Reproduction Cost 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 Swimming Pools 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 in terms of reproduction as it relates to the subject building. The valuations for historical properties are often complex and may be performed by a senior valuations expert from data recorded onsite by our project team. Outdoor swimming pools are included in our on site inspections and typically all in- ground concrete structures with pumps, flIters, 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 December 10, 2010 AssetWORKS APPRAISAL *Key details are recorded for theses specialty structures for valuations, as follows: • Electrical Substation Equipment o Subslation Capacity o Circuit Breaker Quantity, Type, Capacity o Transformers, Quantity, Type, Capacity o Structures (Control, Dead-Man, Other) o Control Panel Details o Accessory Equipment Details • Reservoirs & Water Containment Structures o T ype( concrete/steel/above-ground/in-g round) o Capacity o Construction Date & Cost • Pump Houses, Lift Stations, Wells, etc. o Structure type, size/depth, services, & features o 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 h. Asset Account b. Description i. Building c. Quantity j. Site/Location d. Acquisition Date k. Room/Sublocation e. Manufacturer I. Funding, Department and Program Source' f. Model m. Normal Useful Life g. Serial Numbern. 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: The City of South Miami December 10, 2010 AssetWORKS 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 I 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 perfonming 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 correcl street address for each structure appraised and assign the proper location number. Page 12 Professional Property Insurance Appraisal SelVices Proposal for: The City of South Miami December 10, 2010 VALUE COMPARISONS AssetWORKS APPRAISAL. 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 selVices, 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 I 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: The City of South Miami December 10,2010 AssetWORKS APPRAISAL Cost of Reproduction New (Historical Properties) mayor 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 December 10, 2010 5. OPTIONAL SERVICES Reinventory Service AssetWORKS APPRAISAL 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 increase/decrease 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 December 10, 2010 AssetWORKS APPRAISAL Because ASSETMAXX is a web-based solution, it provides users with significant advantages over traditional client-server or stand-alone software: Q With ASSETMAXX, users access the application via the Internet (Dial-up or Network) Q ASSETMAXX avoids the need for the large initial capital outlay generally associated with software purchases. Q Users "rent" the application and access it over the web, eliminating the added internal need for costly hardware and time consuming maintenance. 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 Iracking and reporting to include: Fast, Reliable and Easy Access to Data Secure Server Localion and Administration Secure Authenticalion, Data Encryption and User Log for Accountability Supports Unlimited Number of Users Mulliple Levels of Security and Access Permissions Digital Photo Interface GASB 34 Compliant Features and Reports Both Standard and Ad Hoc Reporting Features Supports Multiple Depreciation Methods and Capitalization Levels Tracks Maintenance and Repair Histories Allows for Partial Disposals 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 subscrtption based. Users pay an annual fixed fee, which provides them with access to their database. The fee includes: Q 24 Hour access to ASSETMAXX; Q All License and Maintenance Fees; Q Unlimited Help Desk Support Q Automated Trending of Values (Annually) Q All System Maintenance (database administration, network maintenance, etc.) Page 16 Professional Property Insurance Appraisal Services Proposal for: The City of South Miami December 10, 2010 Try it yourself! Here's how to access the ASSETMAXX demo: Q Log onto the internet and go to http://www.assetmaxx.com AssetW(JRKS APPRAISAL Q Click on the link to the "ASSETMAXX Demo" (at the Security Alert click Yes or OK) Q Click on the link to register as a "New User", fill out the required information, and click "Submit Request". Remember your usemame and password! 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 On Site 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 December 10, 2010 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@keyewestcity.com AssetWORKS APPRAiSAL Scope: AssetWorks recently completed an appraisal of city-owned buildings in July of 201 O. 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@charlotteft.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 constructed/acquired 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@cityofsunrise.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 December 10, 2010 KarenJukhaub@lakelandgov.net AssetWORKS APPRAISAL 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 constructedlacquired 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 kheyman@publicrisk.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 terms 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 anlor corrected data, documentation and information at a later date, AssetWorks' efforts with respect to such additional andlor 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 party 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 December 10, 2010 AssetWORKS 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 SeNices Proposal for: The City of South Miami December 10, 2010 AssetWORKS 8. SAMPLE INSURANCE CERTIFICATE CONFIRMA 111).1'I.0t' NAMED, INSURED ,mn'" 'NC, and .~ ~~~iG~~~~:' .. RD. BRO,KER THEC,Gc;B GROUP IN_C, '12b SOUTHTGWN. CENTRE BLVD. MARKHAM, ON, lSG'1 C3 " , '" " TYPEOf '. , ,f:>. 8839016 , , , 'i< NOT APpliCABLE 8838700 " ., F;<. 'ow",o", Company ,;, ". 20-10109/27 2010!09J2i ".'. , , ~CCA'MS Page 21 ,. 1.000;000 S;~:~~~~"; ''''''"'',. I $. ',000,000 , I $ 500,000 ! ""'00"""" APPRAISAL Professional Property Insurance Appraisal Services Proposal for: The City of South Miami December 10, 2010 AssetWORKS 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 olthe 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 n 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: AssetWORKS The City of South Miami December 10, 2010 Sample Summary Report 04l2OfXlO5 SAfo4>LE CffY, WA S602X C"" fl~tw. '"< 01 '"< " '''' 01 ",. 02 Site= 01 IIiSURAlICE SUI"IYMRV 8'1' 8UILDIIlG BuJdinUl)cscrilltiM VM ISO Uhr.of S{IUilfC Replacernert Adct~ CI\Y BIJiIt Class storie$ Footage Cootllew " SAfi.f>LE aTY " SANPlE aT'{ HALL "'"' , 1 ,roo lX/lOO ELK GROVE,CA 85624 SflMPLE CITVHPLL(PP27) "'" 4 3 100,843 11,990.000 101 WEST OOWNTO'INN AV1':NUE HIDDEN CITY,OR 11111 Siteto:.>talforOi: fos$dCwnt 2 110,843 12,110,700 ., SAlIIPI.E OT'( N18UCSAFETV BUILDIlIG PU8UC SAfETYaUllDING (PP31) "'"' , 3 133,003 16,621 ,OlD 1 Z34PU6UC SPFEiYlJlNE SPMPLE CITY, WA 90099 SitetotiE f'H 03: A=:tCwnt 1 133,003 18,621,000 " SAf ..... lE rollV!;lnlOIi CEtlTER CONvt:NTION CENTER (PP44) 100' , 1 169,000 25,704,000 1434 CONVENTION CENTER WAY SftMPLE CITY, MT 00000 Site't1Jt>1 fOI' 04: Assd.Cwm 1 169,000 25,704.000 " SAI'.'PI...E fiRE AClI.DEMY TRAlIIIIIG SITE SAMPLE 8URN Lft8 NIlO ORILL TOWER (PP11) 1006 6 4 7,008 447,000 2OO0WEST DAYlO DRIVE SHERl'VOOD,WA 12345 SIte total fo .. 12: AssdCrunl 1 7,006 447,000 " SM'I'lE CElllRAl UBRMY SIlMPLE LlBRAAY (PP33) 1973 6 3 59,422 7,131,000 94209 REI>l)ftJ300K BL YO LIBRA, TX 54321 Site't1Jt>1 for 39: Ass£tCwnl 1 59,422 7,131,000 Sample Value Comparison Report C-OY or. AURORA CITY HALL CITY ttAU.. n"lldl"" ;!,-<z:, MAl!>4 S'lRIEET N<i: C-",n'''''''''' AURORA, ¢R =z 'Prop .. "y h. u..", Op.,n N,,""~' C/O: VAR!OUS C<1Y oa>ARTh\~ POI..IC'" O$i>Am1\.'J(;Ifi. COUNC1L CHAM8fiRS v.NO 'MP~,a.rr, CONC>'t'8'E PA~MENT e4::1'!.'lF ~ $$.-:/00 UI:l:.<5()o,"") 103..er::;, ",",;mQ WATERTAt."I< &utJdl"l> :I.S:l."!X> t4M<~ O'ITAWAV ROAD ,'";. C .. "' ... n.... I> AVRORA, 'OR ~ "''>lH'''y ,n .h<> Op'''' 4.~1li:! N""","~' V""'-M1tT'eR w .a,~. HEI"'HT .. ~, .. 3.·. CAPAC"y ~ :i:W.OOtl G-'\L SS.R'Ai;. """'10'M BOOSTER f'UMF' STAno« AT"J"HE; SAME Sfl"E. ~'S ~"f'OR I>. RAISED DIESEL A.!1rt. TANK NEXT TO PI,IWP STATION. !.ANto I~PROW.MEN<: CHMN·j.lNl~ I"ENC'NGW"""""'ee? WIRE _ 2,,6<..1" AT 10" HtG ... w $4eOO R,;;s1"F<:C:>OM()!;;'~ ~CON:.:> $TREETI'E AI ...... ORAP'" .. ~ a<J;\di"Q CO""," ... ," I'm" .. "y h' tto.,. 0 ........ Exclusion -'" 1,2)0 840,000 847,200 93'1,000 931 ,000 1,268.000 1,288.000 26,800 2S,800 400,000 4ffi,OOO APPRAISAL Asot R'1llacerru( CQst lessExc!usiOl\$ 113,500 11,150,000 11,263,:3:10 17,690,000 17,690,000 24,416,000 24,418.000 42:l,2I.l0 42:l,2I.l0 6,632,000 6,632,000 163.6:r.!. • 3,:1{lQ 1\13.<:1:13 • \l3,s:.u! • 4)mO 11129J2JOO pege: 1 c.""' .. Value 21,600 3,229,400 3,251,000 4,958,400 4,958,400 4,961 ,roo 4,961,330 0 0 5,630,000 5,630,000 ,1'4.00% o.<.!O'\>;. \<)0,00% 40.$' % o C~"4 H,O,OO .". _W.CQ% O,VO ~ ".00 %. Property Appraisal Services Proposal for: The City of South Miami December 10,2010 AssetWORKS APPRAISAL 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 facilily or building 5) Construction/ISO Classification 6) Year Buill 7) Square Feet 8) Narralive Description 9) COPE Data (Primary & Secondary) 10) Replacement Cost New 11) Exclusion Amount 12) Content Value Sample Insurance Detail Report 001 SAMPLf RisK POOL 002 OEMONSTAAT10N ELEMENTARY SCHOOL 01 ELEMENTARY SCHOOL 2OO,ANY S1REe:'r ANY CITY, US 00IXl0 2008 200$ APPRAISAL -Year Acquired; 2000 Squa.re Footage: 91,539 NO Ad(f$ft'{(!MVIlt!Qns: NO SES SCHOOL· ElEMEN"TARY sr STEEL 4 MASoNRY NON COMBUSTiBLE 34'57,8$7N O~W14,34OW X INTRUSION SYSTEM FIREALARM-MANUAf. HRE AlARM~AUTOMAnC SPRINKLER SYSTEM (100%} GeNeRAL BUIlDING CHARActERISTICS ExI(!riQrW~H$: DECORATIVE CONCRETE BLOCK, BR1C~ ON 1\.1ASONRY Roofing: 90%-ME.TAL. MEDIUM PiTCH, 10% MeMBRANE. FLAT Foundation: CONCRETE SLAB ON GROUND, CONCRETe; FObTIN'G FOUNDATION f'loor finish: CARPETfNG, VINYL Cclling Finish: ACOUSTICAr" DRYWAlL Partitions: CONCRETE BLOCK DRYWALUSTUDS Services; ELECTRiCAL PLUMBiNG HEATING/AIR CONDITIONING (HeAT f'UMP) UNIT HEATERS AIR CONDITIONING -UN!T Notes: g A'/E"'GEWAlll HElOHT '" 14' PERIMETER WALL LENGTH '" 2.886 LF ~l'NI.lll:r.l$: BUILT·INS (CABINETS, LOCKERS, BOOKCASES) COVER~ ENTRANCE WAY COVE-REO WAl,I!JNAY BACKUP GENERATOR EXTERIOR SECURITY LIGHTING SECURITY CAMERA SYSTEM ROOF REPlACED· 2004 ROOF STRAPS· YES Page 24 VALUATION CONCLUSIONS F*pl~nt Cost New; Exel\.tslon Amount: RcplncC!l1lent Cust I.e$$ ExelU$\OOs: Cuntents Value: Property In The Open: Total Insuraf>le Replacement Cost: Property Appraisal Services Proposal for: The City of South Miami December 10,2010 10. PROJECT FEES & AUTHORIZATION AssetWORKS APPRAISAL 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 Inventorv 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 On site Training (One Session/Plus Expenses) Annual Valuation Service Annual Trending Service RESPECTFULLY OFFERED BY: AssetWorks, Inc, Christopher Krier Regional Director ACCEPTED BY: City of South Miami Signature Name Title Date Page 25 $16,300 $1,680 $3,420 $21,400 $14,900 $1,500 $3,500 $600 $1,100 $1,500 $1,500 Initial Here Property Appraisal SelVices Proposal for: The City of South Miami December 10,2010 11. PROPERTY LIST Unit # Deo;::riptlon ~, --RoofShap~ I RoofPltGh AUto Itl'$pectlOO ;)wtfon 001 59Gi S. W. 70th StreeJt SOUTH'MW/!!) fl33143 I UtA ~d start center 002 612.1 SW6S.THST SOtrrH MtMIJ, fl33f4j 1 I Public Works 0""" '''Wlns 00' 4795 S, W. 75th Aw;nue SOUTH MtAMl, FL 3)t43 i-' ---'---T : >TORAGEIMv, v", ,~, OffiCE 00. -4795 S.W. 75th AWtlIm 'SOUTH h\IAMII Fl3~143 I 'ouo v",m "lfu 00' 4195 S.W. 15th Ave-tltw 'SOUTH MMJ./.I, ft. 33H3 ·-----.. -·-r-.. --.. - 'ffY GARAGE 00. 41% S.W. 75th Aver'lw :SOUTH WI#J 1 n.. 33143 ·----' .. 1 C" ,5 "evA R"M 007 -1195-S.W. 75th Ave!i\.U;1 SOUTH Mlf>Ml, rL 3314~ I !'Vuet:: " I QRA(lE BLDG 00. 4'1% S.W. 75th Avenue SOUTHM!M~fl FL33143 009 -_ ...... '-.... l.. .. .... ~f~:' E 5. FASCEll PARK I TENNIS PRO sFio? li: RE!>"lROOIl il600 RED ROAD SOUn;MJ.M~t, f'L33143 r-.. -.... -.. -..... '---r-.. -~ .... --' OAtH E B fASCEtL PARK" 2 (jAZE~ 010 8600 REI) ROAD SOUTH Mimi, FL33143 ,--.-~ .. -I 011 ?~I~!ar~~.';!;!~~ ~,~ .. ';.AR 1 M.I 1 djN~ W\.IX t:> 8600 REt) ROAD I SOUTH MImI, fL 33143 ---"T-' - AssetWORKS APPRAISAL Year 6uHt Eff. !~~ e,ullmogValu£-total Insured Value '~"~-'~""~"'" 'T¢nn"~te --C';nreotsValllit"" ConstTypa Roof Covering I Covering: Replaced I ROQfYrStt 10/0112010 $<4,000 --rrrMN:e--10101/2011 __ . __ ._, .. ~~,.'~m·~'''...-, S $44,000 I 1 101011201G $442,000 'l1F~Re-' -;-~"".".'""' ~~ .. ~.-------.---$447,48 10/0-112011 $5,437 1 1 10/01120tG $197,000 '-rfFIl!'" .~ ... "'.--~ .. ~, -"~ .. ~".~,." ... -<-",,,--.... --$104,318 1010112011 ,7,31' 1 1 10/0112.010-$54,000 -'1,,'1'1<' --._-, $54,00 10/0112011 $< 1 1 10/0112.010 $103,.500 loF~ $1(13,SO 10f0112Q11 $( 1 -1 10r01120W $>154,500 l1,-:/,IIfC 1'oi01i2OT1 ~ __ ~~h"'"_~W_"""~"""~ $454.500 So 1 T-.... -- to-t011201O $63,000 ·',iFJ.. 1070112011 -.--.-'.---.-~--~"'"'~''-'~''''' $59,26 $122,26- I I -~,,-"--- 1010111.010 $18r'110 ',W,']M------,18,'''' 10ftl1/iOll II I T-"--"--- IOlOi1Z0tO $t,1%.00 "'13'l-:-:-fff-tO/01fZcn1 $( $1; 106,C)OC 1 1 IOf01fZ(}!01 ,OS,OOC S6;,Om --"T$2-=lK--tOf01iW~~L_ .. $( I 1 Wf01fZOlO sm,soc --r52-:NC--iO/():1/W11 .. " .. ",,,, .... , ........... , .... -'-.:- $ sm,5O( 1 1 Page 26 Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 Utrlt-If l)~riptlon Address. Roof Shape-I Roof Pitch 012 ~~~X~.~~;;''¥;~,:!l\l\' I"U\IGrtUUrlU (:;6,500 $600 RED ROAD SOUTH MIAMI, FL 33-143 I DANTE. fA>CElL COIMWNHY >70RAGt 013 8600 RED ROAD SOUTf! MIAMI, fl33143 --I I 'ueN> ,A,,, ",VILION ,,,5,,,, co,rrElll> INCWDEU) 014 6445 '$W 8t srR£ET SOUTH MIAM!, FL 3.3f4l I 'UtN> ,. 0" >W'NG ".,S 01S 6445 SW 81 STREET SOUTH MtA¥J, f'L 3114) I P'ALM~ PARK" FlEW :;IORAGE BUllOlNG 016 6445 'SW 81 STREET SOUTH M1N1lh fl. 33143 I PA!1l£R PARK fOOTBALL STORAGE BlDG 017 6701 SW 67TH AVENUE SOUTH M1N1J, FL 33143 I C~" PARK fOOl "ALl STORAGE ROOM 01& 610t SW 61TH AVef{Ut! SOUTH M1N-1J, fl 33.1'43 I • ,<>.N,ffi PARK flEW HOo,E 019 oM $W ,7TH AVENUE SOUTH Mlt>Ml, FL 33143 I . "",.MER PARl( P!AY(lR~"D 02. 6701 SW 67TH AVENUE SOUnl ffJPNJ, fI... 31t43 I PA,lAI.ER PARK 14 PleNa:; "IAIH.ES 021 6701 S.\fl 67TH AVENUE SOUTHM1PN11, fl. 33143 I P/Il.MER PAm< / 3 S6Q. GRilLS Ol2 67(11 SW 67TH AVEHUE soum flJNAI, fL 33143 I _ .. _,,-... _--- I AssetWORKS APPRAISAL YlN:\r Built rf"~ ~~-----!:~~~~~~~~:~,. Tot<;Il. iflswlXi V""u~ ~ .. -".~.-".,..., ConstType Tenn Date Cont~'flbVal00 Roof Covering I Covering Re-ptael.!'d I RoofYrBlt f{l/01!2010 ,,04,000 $104,(:0( '"nW:"l'fafi1(i -----_ .. __ ._ .. ~~m"' .. '"~_. ____ ~··_. W/0112011 SO I I 1O{O1{2010 $63,000 $63,00IJ "·"m":I1\-· ~~ ... -.-~~". "-.--.-.--.-.. ------$0 10/61(2011 I I 10101/2010 $l1,OOO $31,00< "i'Or:-rf/Irmr M"~",""''''''~« So tO/Oll2,011 I J 10/0112010 $70,7fE --ff9'-7M .-.--~~. ··~'''~·m~''~_~'~~··._·r· __ $70,769 10/0112011 \ I I 10/0112010 $45,500 1'ii""",,-10101i2011 $( \4S,5I)( I I 10/0112010 $751000 --Il-97]M---r.c·-········ .,,<,,_ ... __ •••• ~ ••• _ .. w''' ... M ... ''.~N, $120,73 iO/OU2011 $45,730 --I I fOfOllZ010 $33-,000 $~2,5OC -¥'-l'Fi:-"],i;C--"--_._" ''''''~A''_'.~'~~_'_'"''''~·'"··_· 1o/mt2011 $19,500 . T I 1(){O1/2010 $109,:WS -'TFF7IiC' . __ .. _----" . "., ..•..• ~"'-... ~,-,,-, ...... -... -~" .. $116,35 10/0112011 $.9,147 r .. J ____ 1010112010 $2.6,000 lOr:r~ ~--.. ~"--.... . -,--.-.... -.. ""'"'.~~ ... "~,,,~,.~ $26,00< 10/0112011 SO I .• -! 10/0112010 $3~12 -T52-:t'lC" -.. ~-.-... ~" c"··~"····-·······"···"··"······-:C $3j12 10/01/2011 $ . _ ...... _".- I I 10101l20'~: $78 -TS'z--:-t{c' 10/o1j'io11-·"~""··<"-·"-·~·····'''"''~'~$ $73 --I I Page 27 Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 Unit#- Description Address Roof Shape-I RoofPlIX:h A",E"ARK! , vi" I HicK feNCE oll 6701 SW 67TH AV£~UE SOUTH MIAM1~ fL 33143 I PALMER PARK -1000 rl 01' lO~i H!l:JH ~tJ~t..t 02. 6701 ~ 67TH kVENUE SOUTH NJAMI, FL 33M3 I A""R y""",, RESTRO<1\, 6IJ) 0'5 6701 SW 6-TrH AWUE SOtrllf NJAN.!. FL 33143 I "Id," ,~'"" c~C"""VN BIO<; 02. 670~ 5\'1 67TH A.VENUE solhllMI.M\l, FL 33143 " I OFACE I POLICE >"=, Anuh 027 6900 5W 59TH ?t.ACE SOOTH N1tj!JJj~ FL 33143 ,--I BREWER PARK ~ 1. RACQUETBAlL COURTS OlB 6300 SW 56 if! STR£€T SOOTHM!MU, fI.. 33143 I BREWER PARK" 112 BASKETBAll COURT 0," 6:mo SI.'l 56TH S'fRE:€T SOU'THM1AM1} FL 3314~ I 8RE\'1ER PARK· PJAYGKOUN. 030 6300 SW 56TH SrRE!:."T SOUTH MtAM1, FL 3314l I BREWER PARK·'; BCNCm:> 031 630V SW 56TH STREET SOUTH Wi';"l, fl 3314l I BREWER PARK· Z B5QGRlliS 032 6300 SW 56TH STREff SOUTH MlAM1~ FL 33143 I BREWER FA,. ,'. ,,"Hi, COUKI > 033 6300 SW S6TH 51'RElIT SOtrrJiNJM~I, fl3-3143 1 ______ , I AssetWORKS APPRAISAL Year 6u'Iit Efr. Date Building Value . __ ._---TmnDate: '-""'-'"'~C®~'V~1Ue''' TotallnwtJ:'ldV~IUf.) GonrtType Roof Covering I CoVering Replru:ed I RoofYrSIt 1010112010 ~ --T,FN"iO 'S13.00 10/0112.011 I r iOJ01J20fO $16.9'" "~;~F'IlC'-'--".~.""--~' ~~.~-... -.--.------.-.--.. , ... -$16,90 10/0t/2(1:H $0 I I 10101120W $84,600 '··Tf1r:1J.'C'" -~ ....... ~ .... ~.-_. ..... . -".--.---,.--.-.~--.-S81,60 10/01120.1 t $0 I I 10/0112.010 $a4~OOO --lTlf:-rM~' .~.~~.~~".,,~ •·•• .. ·H" •• _ •.•. · ___ --------,-$54,00 10/01lZQU $0 I-I 1O/OUZOiO $0 ·-T1iT·-Jii\·· -... -.. ~,.-.~. '"~, ... .,""." .. ., .. ,~.--...... -.-'" .•. "-$1$,665 1010112011 $28~665 --I I 1Q/O~f20'O $28,6£.5 ·-·FfiT·-JM-' -~.-.--,.~~. $0 $28.665 10/0117.011 I ~ I --10/0J/20to $13J OllO -TFT.-JfA' -.-... ---.- $( $13.00 10/01/2011 I I 10/011ZQW $34,1Z5 'l'52'7NE-.--.--~-~~ $34,125 i0/0t/20ti $( I ~ 1a/Dt/2QIO $1 f 560 S1,5" '-'l5'i-:NC-.. _._ ... "-»--" .... · .. '''_ ... _,.,. .. ., .. ".".v~.· .. - 10101/2011 $ T I 1OI01lZ01O $5~ -15":F"NC" $52 10[01l20H $ I I 10/01120W SSZ,O(!( ·-"11~r.J}x"·· 10/0112(Jf1 $( ,52,000 I I Page 28 Property Appraisal Services Proposal for: The City of South Miami December 10, 2010 Unit 1/ {)(a;crlptiQo Addrass Roof Shape I Roof Pit.<:h BREWER PARK· 460fT Of 10FT HIGH fENCE 034 6)00 SIV $;H STREE1 SOUTHNllAli\l, f'L 3-3143- I '''ow," ",," --"""" I ur '" IiI"" fENcr 035 6300 SW 56TH STREET SOUTH MfM\I, fL 33143 I I '",W," P",," " < PI,WC 'Ab"" 036 fl,300 SW 56TH STREET SOUTH MIAMI. ft 33143- I MuRRAY PA," I (OMMo"1n" CEtmR 037 6701 sw sa PLACE SOUTH MIAMI, Fl33143 I HQPE 8um. A(T,VIf"( CElITER 030 6701 SW sa PlACE SOUTH NJI-MI, fl3314J: I • t.Jt-RCE I roLlC£: ::.UBSTATION 03? S97S SUNSET DRIVE SOOTHAIJAtJ!. Fll3143 -----"--r---------- CITY HAlL j PuliCE .'0 6130 SUNSET DRlVE SOUTH MIAMI, fL 33143- I "LVA mAR I, ",,(lG 041 ~130 $.UK$ET DRiVE SOUTM"MtM/J., Fl.3~14~ -----;-----,-------- sou H MIAI"", CO;'M\ CENl'tR / GYM 042 liOOD SW 6& STREET SOlJfH MIN.;.I, fl.. 33-143- I :;;,vv I n f/'1N~1. Arll\ I ~A ! POOL 043 43PQ' SW 6fr sTREET solm-l MfAtAl, FL 33143 I '<AN WIlLIS PARl< I GA"BO ',044 7'l205W 61ST COURT II SOlJtHMlAMf, fl3:)143 I AssetWORKS APPRAISAL YoarBmlt Eff. !)at(;' DWldfng Value ,,~,.~.-,~,--~feililbai9 -~--~-COnte~VartW"· Total fnsu-red Value ConstTyp~ Roof Covering I COIWr'ng Repl,u;ed I R<lof¥r Bit 10/0112010 S1,8<J< ~f;Z-llC ----" I----~ $7,80 WI01/2:011 $0 I I 1010112010 $3,9IK "'1l':r-14t"""" ,,~ ..... ~ ... --"~M~""'.~"," .. "wo"",, __ ,"~ $3,9{) 10/0112011 5 --r--------r--- 10/0112010 $1.56 $1,56< "\Sz'Ne"--~~-""-.--"-" ,.--.-,.---.. -~-.---~.-.. -" 10/011?011 $ I I tof011Z010 5360,000 l-n-'h\NC' --------"-------"""-"--""--$0 S)6O,OO 10/0112011 I I 10/0112010 $220,500 $ZZG,SOl -T1'9":Jhr .. --.-"' $0 10/01/2011 I I 10rOllZ0W $0 $32 t5OC '-"f1"9--:JM" .-.~-.,-~.,,--... -.~--.--~~ ... -----~, 10f01!2011 532,500 I I - 10/01/2010 $~47U~OO "·'Wr:MNC ~.~.~~~~.-" -'-'''---... -... -... ~ ...... ~~ $3,865.472 10/01/2011 $395,41 I I 10/0112010 $418,0.00 ""File 10J011i&li -.----.---.-.$S~~ $494~706 ---"-r---"" ---"-,----"--"- lO/01IZ01o. $4~ 160,000 S4,S50,()()( -ffl~MRe"" rorol'W1i .-----.. ~----"'-.-.~.~. 5390,000 I I , 10/0.1/2-010 S195,OO 519$,00( '-"1TCj-~-JM-.~ .... ~-... -, . ... ---""-'--'--'---'--'--'- 10/011;0011 S I I 10/0112:0-fO $19,50 l1Jf7Frame ---" ----------.-.~--.. $19)500 10101fUJ.l1 S I I Page 29 Property Appraisal SelVices Proposal for: The City of South Miami December 10, 2010 Unit # Desetiptt<m Address -~ Roof Shape I Roof Pito!;h MARSHAll WILllM'SON PARK f GA1£OO 045 .,21 SW 6S $'fREEr SOUTH MIAMI, fl 33-143 I • mu.IAM"," """ 1 PUuGRv""D AND SWING D46 ill! SlV IS STREEr SOUTH MIAMI, fL 33143 I , IAAR>HA I PA"I 3 BENCHES D47 MZ-1 SW 68 STRf.£T SOUTf1MIAMI, FL33143- I """'"'""'" "IWA.\\SON PMK 1 4 "'CHIC TABLES 048 6'121 SW 6S STREET SOUTH MJANIJ, FL 33143---I v"" "'" 1M PARK I RE.OC,K, Ill"" 049 7800 sW 59TH AVENUE $OUTHMfANJ., F1.3:l143 -I -- AlL AMERICA PA",! 3 eICNIC'i'iilil:IS OSO 6820SW 64 AVENUE SOUTH MIMiJ, n l:H41 I GIRL SCDIJT 'ROPERIY 051 660'} SW 60 STREET SOUTH MlAA!I, Fl33H3 -~ I PAR"'HG GA.ilAGE 052 f,lJ/mH COURT a: Sw nRP STREIT SOUTH MIAMI, FL 3J14J :-----.. ~----.--I AssetWORKS APPRAISAL Year Built .. _E.!!:..~:~~t-··-~-,~~~!.:!~~.:..-l'otallnsur&d Value .. -.. ~.-.-.- CorutTypa Torm D1lro Contonts Value Roof Cov~lng: . I CQverlng. Replaced I Roof 'lr Bit 10/01/2010 $6;,0~ '-~f5f:NC-' ~---~.~-.-$65,00: 1010111011 jl ~.--.---_. I I 1010112010 $32~SO -T5:!""lfe" .---.--.-::~ '~'-"""-"."'-"----$( $32'-,;0 lOIW)<l11 10/01/2<)10 J. $~ I '-m''>It--$1,17fJ 10/01/2.011 SO I I IOI000ZO;rt 53,12C . >l,Il{ ··-f5i7 ·11t:·· 10foiii:Oii -.-----~---·-S( --I' I 10/(;1112010 $25-3,000 $i53,OO{ "'IW:-JM --.-._---... --------"~~-~~--~~~- 10/01l?.ol1 SO I I _ .. - tO/01f2DW $7,000 -'j,Flfe" To"/01i2Ot"1 $( $7,00{ I I 10/0112010 S130,OO $130,00< -mf:-ftirfie ------->--'"" .......... _ .. , .. -.............. ,'-,.$1. 1010112!l1'1 r--" I 10/0112.010 $5,000,000 '-r,F",,'-"---~------_.-.-_ .. _-.. -._---$'.1,000,000 10/01 nOli $0 I I Total:f $17,899,194 $1,049,792 J $t8.948,986 Page 30 fpraijal 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 December 30, 2010 Me. 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: TWO GhTEW/>..YCF..NTAA 603 Stanwix Str¢e\ SWte J SOO Pitbb..,.eb. Penn;y!oM;a 152<2 412..47\.2566 GO(}'245·271G FIIX:'412..471,1758 ~,indappr.com In accordance with your request, we are submitting our proposal to provide an appraisal for the City of South Miami for fixed asset accounting control and insurance valuation purposes. 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 GASB 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 promptty 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 questjons concerning our offer, or the anticipated service, do not hesitate to call me at 440- 885-3147, Fax 440-885-0007 or Email klal/ey@indappr.com. Thank you for considering the professional appraisal services of Industrial Appraisal Company and the opportunity to submit our proposal. We look forward to being of service to you in your valuation requirements. Very truly yours, INDUSTRIAL APPRAISAL COMPANY 1(£d a fi!~ Keith A. Lalley Regional Sales Manager KAUdmd Two GhttW"yCl'./ittR 603 StOnWUc Sireel, Me 1500 Piruburgh, Po=)1v;mia 1~222 APPRAISAL AGREEMENT 412-471-2566 800_245-2719 FMi: 412-471-1756 ~jndallpr_com 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 I. 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 Page 1 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 ConditioningNentiiating, 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 Eguipment 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 j"j.<4blat ...Apprai4at C,,,,pa"'l Appraisal Agreement City of South Miami December 30, 2010 1. Major 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. III. REPORT PRESENTATION Page 2 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 confonms to recommendations by GASB Statement 34 implementation as indicated in Addendum NO.2. Any exceptions required by the City of South Miami must be made prior to commencement of the work. 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 tenms 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. !Jmkdrial...Appra~a! Cmpa"'l Appraisal Agreement City of South Miami December 30, 2010 IV. PROFESSIONAL FEE This fee covers as I testimony or expansion of the appraisal for purposes not specified herein diem rate of $1 ,500.00 plus applicable expenses. V. 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 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. VI. 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. Fixed Asset Report 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 .............................. .. ....................................... $450.00 (Due First Anniversary) VII. PROOF OF LOSS SERVICE Page 3 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. J"L[,.iaE Appra&"t Cmpaa'l Appraisa' Agreement City of South Miami December 30, 2010 OPTIONAL SERVICES Presented as Optional Services and additional fees, Industrial Appraisal Company is offering to include the following: Provide Tagging Oncluding Tags! of Movable Eguipment 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 fumiture, 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 Ta&1t 1/1 ~ovable Equipment with a current replacement cost exceeding $1,000.00 will be an additional '.:, I II. Provide Research Necessarv 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 t.lif.t1i"lliMiilk@, will be required to accomplish this additional work. Provide our Visual Fixed Asset Control System Software MACS) The Visual Fixed Asset Control System SoftwareNFACS 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 all Microsofl Windows 95, 98, XP Professional, XP SP3 and 7 32M 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 SoftwareNFACS is ~.@M"k VFACS Software includes a Support and Maintenance Agreement for the first year and charge of mJ.1fW~ after initial year. Page 4 J,J".;t,.w.t Apprtd&!! Campa"'l Appraisal Agreement City of South Miami December 30, 2010 OPTIONAL SERVICES (Continued) 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 ref/ected 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 ~!ft1'*,j". PageS 3..ktru.! AppraiJut CII"f£''''j Appraisal Agreement City of South Miami December 30, 2010 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 Y-lIbtr;.a! AppraI&a/ C"''flUl'l Appraisal Agreement City of South Miami December 30, 2010 ACCEPTANCEIAUTHORIZATION TO PROCEED Netther 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. SUBMITIED this 30·' day of December 2010 INDUSTRIAL ApPRAISAL COMPANY Two GATEWAY CENTER 603 STANWIX STREET, SUITE 1500 PITTSBURGH, PENNSYLVANIA 15222 ACCEPTED: 14tJ t:? P~ Keith A. Lalley Regional Sales Manager CITY OF SOUTH MIAMI 6130 SUNSET DRIVE SOUTH MIAMI, FLORIDA 33143 Signature Date Print Name OPTIONAL SERVICES ACCEPTANCE: (Please Initial) &mlli11iJ Provide Tagging (Including Tags) of Movable Equipment with replacement cost exceeding $1,000.00 .............................................................. !!',l',*~:tll,u!ll!!l.ui: ____ _ &i!i11illE Provide Research Necessary to Include Land Data. -............. , .............. J~'tfjm'mii#a4; ____ _ &mi1iilliJ Provide our Visual Fixed Asset Control System Software (VFACS) ......................... ~F!ii!1l·h~·bil;j(~.t~I: ____ _ (Includes Support & Maintenance 1st Year; Charge of $250lYear After Initial Year) &milli11iJ Provide Microsoft Excel Data File (Spreadsheet) .................... .. Page 7 J"kfrialApf'«;""! Ccmpo.tuj Appraisal Agreement City of South Miami ................. S~'$I'.l"i7ijl1J!ril'li'; ____ _ December 30, 2010 Page 8 ADDENDUM NO.1 Properties to be Appraised 311M,a! ..Appra~a! C""'palllj Appraisal Agreement Addendum No.1-Properties to be Appraised City of South Miami December 30, 2010 Preferred Property Schedule iiiiiiilijiI jj~"""'ENTAl City of South Miami ~.1IJ INSURAIKHliusr Agreement No.: PK FL1 0132021 10-01 Agency: Brown Ii Brown1 Jne. Description Year Built Unit # Address .-.. -.~.--.- Roof Shape I Roof Pitch Canst Type Auto Inspection Station 001 59075_ W_ 70th Street lTFMNc-' SOUTH MINAI, FL 33143 I eM head start center 002 6121 SW 68TH ST Tn':'MNC" SOUTH MINAI, FL 33143 I Public Works Office Building 003 4795 S. W. 75th Avenue ··-Hf:·FR···· SOUTH MINAI, FL 33143 I STORAGEI MOTOR POOL OFFICE 004 4795 S. W. 75th Avenue ""'m-=-I'R"- SOUTH MINAI, FL 33143 I SOLID WASTE BLDG 005 4795 S. W. 75th Avenue TbT::-Fram-e-SOUTH MINAI, FL 33143 I CIIY GARAGE 006 4795 S_ W. 75th Avenue "lTr:'MNC"" SOUTH MINAI, FL 33143 I CIWS REPAIR SHOP 007 4795 S. W. 75th Avenue ·····H9~·Jir· SOUTH MINAI, FL 33143 I POLICE STORAGE BLOG 008 4795 S. W. 75th Avenue ""'nij'~"JM"- SOUTH MINAI, FL 33143 I DANTE B. FASCELL PARK I TENNIS PRO SHOP a RESTROOM 009 QI r-,... 8600 RED ROAD ""HFFIf'" SOUTH MINAI, FL 33143 I DANTE B FASCELL PARK -2 GAZEBOS 010 8600 RED ROAD ''''T5Flfc'-'' SOUTH MINAI, FL 33143 1--I D!",!E B FASCELL PARK -6 HAR TRU TENNIS COURTS all I(-~ r:",,., <"""~I""r~'''''(''" .. ,.-. "r. ... r. 8600 RED ROAD 1--··T$2·:-nc·· .. SOUTH MINAI, FL 33143 L I Agreement Period: 10/01/2010 through 10/01/2011 Eff. Date Building Value Total Insured Value 'TermO"ate ···-··-····Conte-nts~Vaiue····· Roof Covering I Covering Replaced I RoofYr BIt 10/01/2010 $44,000 _. __ .... _._-.-•.. -.. _ .•.... _._---_ ... _ .. _ ......... $44,000 10/01/2011 $0 I I 10/0112010 $442,000 --_ .... _----_._._ .. _ .... --_ .............. _._ ... $447,487 10/01/2011 $5,487 I I 10/01/2010 $197,000 _. __ ._-_._--.. ._ .. _-----_ .. _-----_ ... _.-._._-.. -. $204,31 10/01/2011 $7,318 I I 10/01/2010 $54,000 ---_ ... _ ... , .. -.---_ .. _-------,.,,_._"" ..... -... -------$54,000 10/01/2011 SO I I 10/01/2010 $103,500 _'_--_' .. __ .. _-." ~--.--.. -.. --.-.-.. -.--.-----.. ---$103,500 10/0112011 SO I I 10/0112010 $454,500 ..... __ ......... _-_ ... __ .. _ .. _._ ...... _ .... ""_.-.. -.------_. $454,500 10/01/2011 $0 I I 10/01/2010 $63,000 --_.------_ .•. _---... --.... -.---... -............. -.-.. -~: $122,267 10/01/2011 $59,267 I I 10/01/2010 $18,900 -_ ... _._ ...... -. -------_ .. _._._ ... _-_ .... _-----.. $18,900 10/01/2011 $0 I I 10/01/2010 $1,106,000 ----------._-_."_ ....... _ ....... -... -..... _ ... _.-$1,106,000 10/01/2011 $0 I I 10/011Z010 $65,000 --_ .... , .. _ ... _-"----......... __ ....... _--.. -._--_ ..... -.. $65,000 10/0112011 $0 I I 10/01/2010 $123,500 . _----_. __ .. _ .. -. . .... ---.-.•..•.. __ .......... _ .... _ .. _ ........ $123,500 10/01/2011 $0 I I Preferred Property Schedule _ j/'!;'''RNM''TAl City of South Miami ~ INSUIWKHRUSf Agreement Period: 10/01/2010 through 10/0112011 Agreement No.: PK FL1 013202110-01 Agency: Brown 8: Brown, Inc. Description Year Built Eff. Date Building Value Unit # Address ~----------------Te"rm'O"ate" .. ···_··_·· .. Conterits"V·it"lue···-Total Insured Value Roof Shape I Roof Pitch ConstType Roof Coveting I Covering Replaced I RoofYr Bit DANTE B FASCELL PARK I PLAYGROUND (56,500 1010112010 $104,000 r .... ~lTI"),.ITf' ,.'r' I, .... rr. 012 8600 RED ROAD "TOf:-'Fra:me" ..... ,-.. _ .... -.-. . _.-.-_. __ ._--_ ..... _ ......... -._-$104,000 SOUTH MIAMI, FL33143 10/0112011 $0 I I I DANTE B FASCELL COMMUNlr y STORAGE 10/01/2010 $63,000 013 8600 RED ROAD ---Ur:-FR--.. _-_ .. _._--.. ---------------------------------$63,000 SOUTH MIAMI, FL 33143 10/01/2011 $0 I I I FUCHS PARK PAVILION (>4550 CONTENTS INCLUDED) 10/0112010 $31,000 014 6445 SW 81 STREET "10f-="F'[arne' ----_._-.-----_. ...... _ .... --_ ....................... _--_ ..... $31,000 SOUTH MIAMI, FL 33143 10/0112011 $0 I I I FUCHS PARK PLAYGROUND a SWING SETS 10/0112010 $70,769 015 6445 SW 81 STREET ----TFI'--]M-----_ ... _ .. _ ... -.-... -.-...... -...... -........ ~.-,,-.......... $70,769 SOUTH MIAMI, FL 33143 10/01/2011 $0 I I I PALMER PARK -FIELD STORAGE BUILDING 1010112010 $45,500 016 6445 SW 81 STREET ---15Z-'-NC-----_ ...... _ ...... _ .. .... ---...................... _ .•.... _.-...... -$45,500 SOUTH MIAMI, FL 33143 10/0112011 $0 I , I PALMER PARK FOOTBALL STORAGE BLDG 10/0112010 $75,000 017 6701 SW 67TH AVENUE ----Tfij-:TIii----..... , .... _ .... -.-... ................. _ .. _ ... _._. __ .. _.' ..•..•. $120,730 SOUTH MIAMI, FL 33143 1010112011 $45,730 I I I i PALMER PARK FOOTBALL STORAGE ROOM 10/01/2010 $33,000 018 6701 SW 67TH AVENUE ----T19--:1M---_ .... _-_ ..•..•....• . _ .. _-_._ .... -.... -.•. __ ..•.........•... $52,500 SOUTH MIAMI, FL33143 1010112011 $19,500 I I I PALMER PARK FIELD HOUSE 10/0112010 $109,205 019 6701 SW 67TH AVENUE ----TFr:1M----"'---'-'''''''''-... _ .. _ .. _ .. ,_ ............ _ .. __ .-.... -$118,352 SOUTH MIAMI, FL 33143 10101/2011 $9,147 J I ! PALMER PARK PLAYGROUND 1010112010 $26,000 020 6701 SW 67TH AVENUE "ror~"Frame .. ---~.----_._ ..... _ .......... _ .... _ ..... _ .. __ .... _. $26,000 . SOUTH MIAMI, FL 33143 1010112011 $0 I I I PALMER PARK I 4 PICNIC TABLES 1010112010 $3,120 021 6701 SW 67TH AVENUE ----TsrTfc----.-.-.-.-... -~ .. ... _ ....... _--_ ................ _ ......... _. $3,12C SOUTH MIAMI, FL 33143 1010112011 $0 I I I I.ALMER PARK 13 BBQGRILLS 1010112010 $780 022 6701 SW 67TH AVENUE ----rsrNl:---_ .... _ .... ------_._ ................. _ ...... ......... ,"'" ... $78 SOUTH MIAMI, Fl33143 1010112011 $0 I I I I I Prelerred Property Schedule &l ;J~:N~W\\Jsr City of South Miami Agreement Period: 10/0112010 through 10/01/2011 Agreement No.: PK FL 1 0132021 10·01 Agency: Brown a Brown, Inc. Description Year Built Eff. Date Building Value Unit # -.... ,-.~---. "ferm---Oa'te "-~-'-'-""Conteots-VaTue---Total Insured Value Address I Roof Pitch coost Type Roof Covering I Covering Replaced I RoofYr Bit Roof Shape PALMER PARK 11200 FT Of 5FT HIGH FENCE 10101tzOl0 $13,000 023 6701 SW 67TH AVENUE ····i5Z-:-NC· _._ ... _. __ ._---'»-----"'-"-'-"-' .• -.. ---_._-_. $13,000 SOUTH MIAMI, Fl33143 1010112011 $0 I I I PALMER PARK· 1000 FT Of 10FT HIGH FENCE 1010112010 $16,900 024 6701 SW 67TH AVENUE ··-TfiZC"NC· --_._ ... _-,--........ _-_." .... -_ .. __ ._------_. $16,90 soum MIAMI, FL33143 1010112011 $0 I I I PALMER PARK· RESTROOM BLD 1010112010 $84,600 025 6701 SW 67TH AVENUE ····TIijc·TM··· -----,-_._.,--._-_.---_ .. __ .... _---....... _---------$84,60C SOUTH MIAMI, FL 33143 10101tzOll $0 I I I PALMER PARK· CONCESSION "LOG 1010112010 $54,000 026 6701 SW 67TH AVENUE ··_·fTij·C]iVi··· -----.--_._--.--_._-----------_._-------_.--.----.-------$54,000 SOUTH MIAMI, FL 33143 10/0112011 $0 I I I OFFICE I POLICE SUBSTATION 1010112010 $0 027 6900 SW 59TH PLACE ·····j"fij"":·JiVi···· ---. __ .... __ ..... ..........•..................... -........• -$28,665 SOUTH MIAMI, FL 33143 1010112011 $28,665 I I I BREWER PARK· 2 RACQUETBALL COURTS 1010112010 $28,665 028 6300 SW 56TH STREET ·····1"19"'711,··· --_., ......... ............. __ ... _ ..... -.... -.-.--_ .. __ ._-$28,665 SOUTH MIAMI, FL 33143 10/0112011 $0 I I I BREWER PARK· 1/2 BASKETBALL COURT 1010112010 $13,000 029 6300 SW 56TH STREET ···-fTij"~"JiVi··· ~-' .. --.-.. ,-.-.-... -.---.. ,,-.. -... -... -.. --.-.-.~.~ $13,000 SOUTH MIAMI, fL33143 1010112011 $0 I I I BREwER PARK· PLAYGROUNO ANO SWING SET 1010112010 $34,125 030 6300 SW 56TH STREET ····TSr·Nt···· 1-.-.• -..... -_ ... _-. __ .. ___ .. • .. ••• •• _.·· .. TO·_· .. ··_ $34,125 SOUTH MIAMI, FL 33143 1010112011 $0 I L I BREWER PARK· 4 BENCHES 1010112010 $1,560 031 6300 SW 56TH STREET ····T52":->iC· ._. __ ... -........ ...... -_ ......... ---_._ ... _-_._. __ .... _._. $1,56 SOUTH MIAMI, FL 33143 1010112011 $0 I J I BREWER PARK· 2 BBQ GRILLS 1010112010 $520 032 6300 SW 56TH STREET ·,··Tij2·:·Nt···· _ .. _ ........... ---_ ... _ ......... _ ........... ,_ ... -_ ....... $520 SOUTH MIAMI, FL 33143 1010112011 $0 I I I BREWER PARK· 2 TENNIS COURTS 1010112010 $52,000 033 6300 SW 56TH STREET ..... j"fij-:]p; .... '---'-"'-"' .. ........ _ .. -.... _-----._ ......... _ ... " $52,000 SOUTH MIAMI, FL 33143 1010112011 $0 j -I I Preferred Property Schedule _I' iJ~'",M"TAl City of South Miami ~ ~ lNSUMlKETRUST Agreement No.: PK FL1 0132021 10-01 ) Agency: Brown 8: Brown, Inc. Description Year Built Unit fI -.. -•.. --... -.-Address Roof Shape I Roof Pitch ConstType BREwER PARK -460FT OF 10FT HIGH FENCE 034 6300 SW 56TH STREET ----r52:-]1C- SOUTH MIAMI, FL 33143 I BREWER PARK -360FT OF 5FT HIGH FENCE 035 6300 SW 56TH STREET ----Tsr:TIE---- SOUTH MIAMI, FL 33143 I BREWER PARK· 2 PICNIC TABLES 036 6300 SW 56TH STREET ---"f5;n~E---- SOUTH MIAMI, FL 33143 I MURRAY PARK I COMMUNIT, CENTER 037 6701 SW 58 PLACE --nr~MNC-- SOUTH MIAMI, FL 33143 I HOPE BUTLER ACTIVITY CENTER 038 6701 SW 58 PLACE -----n'F-jM--- SOUTH MIAMI, FL33143 I OFFICE I POLICE SUBSTATION 039 5975 SUNSET DRIVE --'-n'r:"JM---- SOUTH MIAMI, FL 33143 I CITY HALL I POLICE 040 6130 SUNSET DRIVE ----nr:-MNC SOUTH MIAMI, FL 33143 I SILVA MARTIN BLDG 041 6130 SUNSET DRIVE ---TFr:-JM--- SOUTH MIAMI, FL33143 I SOUTH MIAMI COMM CENTER I GYM 042 5800 SW 66 STREET --Tff-:-"MffC- SOUTH MIAMI, FL 33143 T SOUTH MIAMI PARK YMCA I POOL 043 4300 SW 66 STREET --"TiF"JNi---- SOUTH MIAMI, FL 33143 I JeAN WILLIS PARK I GAZEBO \044 7220SW 61ST COURT -fOr:-Fraiii.- 1/ SOUTH MIAMI, FL33143 I Agreement Period: 10/01/2010 through 10/0112011 Eff. Date Building Value T~rm--Pate-·-··----·-C-;n~terrtsVaiUe---Total Insured Value Roof Covering I Covering Replaced I RoofYr Bit 101011Z010 $7,800 ---_ .. _._-_ ..... ".-.... _--_ .. ---.-_._-_._._---_ .. -.-$7,80 1010112011 $0 I I 1010112010 $3,900 , .. ~.--.. -,~ .. --.-.---'"--.... -~-.--.-.---.---... -. $3,90 10101/2011 $0 I I 10101/2010 $1,560 .... _-_._-_." ... -.. .•. _---_ •... _------_._-_. __ .. _-_ ... $1,560 1010112011 $0 I I 10101/2010 $360,000 ._----_._ .. _ ... _ ......... -.... __ .. -.. _--.-..... -.... $360,000 1010112011 $0 I I 1010112010 $220,500 ... _ ............... ...... -..... -.-... -..... '"-.... ,-.~ ....... $220,500 1010112011 $0 I I 1010112010 $0 _ ............ __ ... ..................... _, ..... _ .......•..... _. $32,500 1010112011 $32,500 I I 10101/2010 $3,470,000 -......... -......... .. _ ............ __ ... _._. __ ... _ ....... -. $3,865,472 1010112011 $395,472 I I 1010112010 $438,000 .... _ ... _ ......... ......... _ ...... __ .... _ ....... __ .......... $494,706 1010112011 $56,706 I I 1010112010 $4,160,000 ...... _ .. _ ......... .......... _ ... _ ............. , ... _ ... _ ..... _. $4,550,000 1010112011 $390,000 I I 1010112010 $195,000 .. _ ...... -..... _. ....... _ .............. _ ..... _---_ ........ $195,000 1010112011 $0 I I 1010112010 $19,500 ... __ .... _ ...... _ . .............................. _ ................ $19,500 1010112011 $0 I I Preferred Property Schedule ~ ::J~""~'NTAl City ot South Miami ~ IN5URANCETRu~r Agreement No.: PK FL1 0132021 10-01 Agency: Brown 8:: Brown, Inc. Description Year Built Unit # ---, .. '"._"._. __ . Address Roof Shape I Roof Pitch Const Type MARSHALL WILLIAMSON PARK I GAZEBO 045 6121 SW 68 STREET ·· .. TsFHc···· SOUTH MIAMI, fL 33143 I MARSHALL WILLIAMSON PARK I PLAYGROUND AND SWING r~ 046 6121 SW 68 STREET I-·TsFHC· SOUTH MIAMI, fL 33143 I MARSHALL WILliAMSON PAR. I 3 BENCHES 047 6121 SW 68 STREET ····Tsz .... flc-· SOUTH MIAMI, FL 33143 I MARSHALL WILLIAMSON PARK I 4 PICNIC TABLES 048 6121 SW 68 STREET .... TSF'flC SOUTH MIAMI, fL 33143 I VAN SMITH PARK I RESIDENCE BLDG 049 7800 SW 59TH AVENUE .. ··WFJM-· SOUTH MIAMI, fL 33143 I ALL AMERICA PARK I 3 PICNIC TABLES 050 6820 SW 64 AVENUE ···Ts':r:-fic .... SOUTH MIAMI, FL 33143 I GIRl SCOUT PROPERTY 051 6609 SW 60 STREET T(Jr:--Frame-SOUTH MIAMI, FL 33143 I PARKING GARAGE 052 SW 58TH COURT !l SW 73RD STREET '''-rsz-:HC' SOUTH MIAMI, FL 33143 I Agreement Period: 10/01/2010 through 10/01/2011 Eff. Date Building Value 'Term"'Date ·-"--·-""·'--C~nte-ntsVatue--·--Total Insured Value Roof Covering I Covering Replaced I RoofYr BIt 10/01/2010 $65,000 ----------,_." ._._ ... _ .......... _ .... "_ .. _ .. _ ... " .... $65,000 10/01/2011 $0 I I 10/0112010 $32,500 .. _ ... __ ...... -•.. __ ............................... :-$32,500 10/01/2011 $0 I I 10/01/2010 $1,170 --_ .............. ," ---.. __ .... ,,_ .... _-, .. _-, ................ $1,170 10/0112011 $0 I I 10/0112010 $3,120 .............. -... --... _ ..... _--_ .......... _----------. __ .. $3,120 10/0112011 $0 I I 10/0112010 $253,000 r .. · .... ··----·· ---_._-_ .. __ ._--------_._._._.----_._. $253,000 10/0112011 $0 I I 10/01/2010 $7,000 -_._--._. __ 0._.---._ .... ---_ ........ _._-_._ ... _ ....... __ ._--$7,00 10/0112011 $0 I I 10/01/2010 $130,000 ._. __ .. _. __ .. --._._-._ ...... -......... _.-... _-, ..... ---. $130,000 10/0112011 $0 I I 10/0112010 $5,000,000 _ .. _,._. __ ._ .... ___ ... _._ .. _n._ ..... _. ___ · .. _ .. ___ +. __ , .... _, $5,000,000 10/01/2011 $0 I I Total: I $17,899,194 $1,049,792 I $18,948,986 Page 14 ADDENDUM NO.2 Universal Coding (GASS 34 Compliant) J,JMtr~I.ApprQi4at C"'prUl'l Appraisal Agreement Addendum No.2-Universal Coding (GASB 34 Compliant) City of South Miami December 30, 2010 JndUdtl'iat Appraidat Company Information Technology Two Gateway Center 603 Stanwix Street, Suite 1500 Pittsburgh, PA 15222 412-471-2566/800-245-2718 www.indappr.com UNIVERSAL CODING for Pro LAND, IMPROVEMENTS, BUILDINGS/STRUCTURES, INFRASTRUCTURE Land 01 Site Improvements 02 Buildings 03 Leasehold Improvements 04 Infrastructure 05 BUILDING ITEMS/PERMANENT FIXTURES Stained Glass Stained Glass -Fine Arts Chandeliers/Sconces Pipe Organs Statues Bells/Bell Carillons (Bldg.) Muralsllcons Architectural Fine Arts Permanent Fixtures Bowling Alley/Pinsetters Carillon (PF) Permanent Fixtures --SV Page 15 06 07 08 09 10 11 12 14 21 22 23 25 JnJudrillt ..Appm&at C"mparnj Appraisal Agreement Addendum No.2 -Universal Coding (GASB 34 Compliant) City of South Miami N/A N/A 20+/-00 40+/-00 20 00 50+/-00 10 10 20 00 20 10 20 10 N/A N/A December 30, 2010 EQUIPMENT MachinerylShop Equip. 30 15 Construction Equipment 32 15 Refrigeration Equip (Ice Rink, etc.) 34 15 Equipment 38 15 Office Mach & Devices 44 08 Audio Visual Equip 45 06 EDP Equip 46 05 Telephone System 47 10 LaboratorylScience Equipment 48 10 Medical/Hospital Equipment 49 10 Firearms 50 20 Food Service & Appliances 51 15 Communications (Radio/TV) Equip 52 10 Sacred VesselsNestments/Altar Linens 54 10 Books, Periodicals & Materials 55 7 Fine Arts 56 N/A Music Equip & Instruments 57 20 Manufacturing Piping 58 20 Process Piping 60 20 Power Feed Mains 62 20 Vehicles -Police -Acq. Only 63 2 Mobile Equipment 64 12 Vehicles -Licensed --Acq. Only 66 8 Leased Equipment 67 N/A "On Board" Vehicle Equipment 70 10 Maintenance & Grounds Equip. 72 15 Books & Periodicals "OV' 80 7w/cost Dockets & Maps "OV" 81 7w/cost Law Books "OV' 82 7w/cost Molds -Dies -Fixtures "OV' 83 N/A EDP Software or Equip."OV" 84 5 w/cost AV Software or Equip."OV' 85 6w/cost Miscellaneous Equip. "OV' 86 10 w/cost Musical Instruments "OV" 87 20w/cost Uniforms "OV' 88 10 w/cost Stated Value Equipment 90 N/A Athletic & Sports Equipment 91 10 Educational & Janitorial Supplies 98 N/A "Optional" Description 99 Optional Page 16 3nMi<l! Ap(lNliMlt Cmpa"'J Appraisal Agreement Addendum No.2 -Universal Coding (GASB 34 Compliant) City of South Miami 10 10 05 05 00 05 00 00 10 10 20 05 05 10 10 N/A 10 00 00 00 05 05 10 N/A 05 05 N/A N/A N/A N/A 00 05 00 10 10 N/A 10 N/A Optional December 30, 2010 Page 17 OPTIONAL SERVICE ADDENDUM NO.3 General Tagging Procedures J,tJ,.~frk<t .Apprai&i C""'PWUj Appraisal Agreement Optional SefYice Addendum NO.3 -General Tagging Procedures City of South Miami December 30, 2010 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, 1. 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 Page 18 The following lists various assets and the recommended tag placement J"iw&ia! AppralMt c,mpamj Appraisal Agreement Optional Service Addendum NO.3 -General Tagging Procedures City of South Miami December 30, 2010 GENERAL FURNITURE Description Desks Chairs 1 Swivel (Executive-Secretary) Chairs I Stationary (Slide, Open Arm, LNG) Credenza Bookcase Cabinets (File, Storage, Supply) Shelving Table (Conference, Work, Library) Table (End, Coffee) Sofa, Settee Air Conditioners (Window Type) OFFICE MACHINES Description Computer Monitors Computer Processors Typewriters Calculators and Adding Machines Copiers and Duplicators Accounting Machines Time Stamps Mailing Machines Dictators and Transcribers Microfilm Readers Imprinters Page 19 B C F KW L NP P R S U Ynud ..Apprai¥A! Compo",! Appraisal Agreement Optional Service BOTTOM COVER FRONT INSIDE KNEE WELL LEFT NUMBER PLATE PEDESTAL RIGHT SIDE UPPER Addendum NO.3 -General Tagging Procedures City of South Miami Tag Location Code KW PB IL ULF ULF ULF ULF IL IL IL ULF Tag Location Code ULF ULF LC S S NP ULF NP S S NP December 30, 2010 Corporate Office Two Gateway Center 603 Stanwix Street, Suite 1500 Pittsburgh, PA 15222 800.245.2718 412-471-2566 l/IfoINJ.indappr.com Please Forward a Copy of the Appraisal Summary to our Insurance Advisor Listed Below: Advisor's Email: Name: Company: Address: Name of Appraised Property: Signature: Print Name: Telephone: Form 311 Page 20 Please indicate if you wish to have a copy forwarded to your advisor electronically each year: Yes 0 NOD .JnkMat .AWrd6at CQ""f"'"l 5-09 )"j&&-; ... I Appf'Q.hal (omp"""1 Appraisal Agreement Form 311 -Agent Authorization City of South Miami I Date: I December 30, 2010 Industrial Appraisal Company Proposal Summary Category Description Amount Annual Service Fee $290 Updating of Insurance Values $450 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 $9,700