HomeMy WebLinkAboutR-80-0646"SUPPORTIVE
DCCU M EN.TS
FOLLOW"
RESOLUTION NO. 8 0- 6 4 6
A RESOLUTION AWARDING A CONTRACT TO
M.A.I. APPRAISER, F. ROBERT QUINLIVAN,
FOR PROFESSIONAL SERVICES, IN THE AMOUNT
OF $5,000.00, USING FUNDS ALLOCATED FROM
THE MARINA IMPROVEMENT FUND, TO CONDUCT
AN APPRAISAL OF THE MANAGEMENT AGREEMENT
FOR DINNER KEY MARINA.
WHEREAS, F. ROBERT QUINLIVAN, M.A.I., has offered to
provide professional services for the appraisal of the
Management Agreement for Dinner Key Marina;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF
THE CITY OF MIAMI, FLORIDA:
Section 1. That a contract for professional services
to conduct an appraisal of the Management Agreement with
Biscayne Recreation Development Company for Dinner Key
Marina be awarded to F. ROBERT QUINLIVAN, M.A.I., in the
amount of $5,000.00, with funds therefor hereby allocated
from the Marina Improvement Fund.
PASSED AND ADOPTED this-1.5 day of srPTEMBER — , 1980.
MAURICE A. FERRE
M AY 0 R
UJ.
PREPARED AND APPROVED BY:
/,-Jfi n p n
ssi t C y Attorney
APPROVED AS TO FORM AND CORRECTNESS:
0 e-3-T g eAT. Kno-x, Jr.
City 4,ttorney
"DOCUMENT 1 DEX
ITEM NO -
CITY COMMISSION
MEETING OF
SEP1 51980
6
My VIR1�� Iw1Y.......... w.M.�.
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
TO Richard L. Fosmoen VAri: September 10, 1980
City Manager
Appraisal Assignment for Dinner
-/ Key Marina Management Contract
��HON, Car �� Cia ifKf Ulf rCE:s
Acting Director
Financ Department : NZLOrWH :_; right (8)
It is recommended that the firm quoting the
third lowest bid, F. Robert Quinlivan, MAI,
be awarded the contract for professional
services to conduct an appraisal and
financial analysis of the Management Agree-
ment for the Dinner Key Marina.
The City Commission, on March 19, 1980, awarded the contract for services to evaluate
the Management Agreements for Miamarina and Dinner Key Marina to Slack, Slack & Roe,
Inc. and Peat, Marwick & Mitchell.
Letters were sent to those firms accepting their offer of services. However, on
April 2, 1980, the firm of Slack, Slack & Roe, Inc. withdrew from the assignment
(letter attached). On April 10, 1980, the City Commission awarded the contract for
services to the firm Real Estate Research Corporation.
A third appraisal is
now requested for
the Dinner Key Marina only, and it is
recommended that the
MAI firm with the
third lowest bid
(F. Robert Quinlivan, MAI)
be awarded the contract.
Listed below are the
firms originally
responding to the
solicitation for the proposal.
MAI APPRAISERS
FEE QUOTED
FEE QUOTED
(TOTAL PROJECT)
(DINNER KEY ONLY)
Slack, Slack & Roe,
Inc.
$3,000
(No Breakdown)
Real Estate Research
Corp.
7,000
(No Breakdown)
F. Robert Quinlivan,
!4AI
8,000
;$5,000
Property Consultants,
Inc.
10,000
$6,000
Charles J. Hegler, MAI
20,000
(No Breakdown)
* Plus actual time and expenses incurred if expert testimony is required by the City
Xis �4C��PoRr/VE
FO(� „TS
80-648
The other firms responding to the solicitation, but unavailable to carry out the
assignment were:
Carlton W. Coe, Inc.
S. Z. Bennett Appraisal Co.
Copies of the proposals by the respondents, as submitted, are attached .for your
review.
CG:WHH :bf
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UU ITIP
�3 0 - G 4 6
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Slack, Slack & Roe, Jnc. 19*
01WOR
1620 W. FLAGLER STREET • MIAMI. FLORIDA 33135
MIAMI PHONE 643-0443 BROWARD PHONE 763-9033
April 2, 1980
c,
c� -
Mr. Joseph R. Crassie --�
City Manager
City of Miami, Florida
Finance Department w
Treasury Management Division
65 SW let Street - 3rd Floor
Miami, Florida 33130
77
Re: Appraisal and financial analysis of the
management agreements for Miamarina and
Dinner Kell Marina
Dear Mr. Crassie:
I am in receipt of your letter of March 31, 1980
regarding the proposed appraisal of management agreements on
the above -captioned properties.
After having studied Resolution No. 80-62, it is
clear to me that this is not an undertaking which should be
ascume(I Jig Cl ►'oaZ cotata appra'1oo)-. T oonflno trig work to the
anaZysia of rt,al property and do not fa l qualif•lud to p)-oduc-0
a report on the merits of a management agreement of the nature
set fortis on these properties.
I regret that I wilt be unable to perform these
assignments as I feet that, in good conscience, I cannot accept
them.
TWS/da
Sincere l y,
THEODORE W. SLACK, MAI, ASA
<Sv
DO `��'Q
C 7 �'T/VE J/'
FpsV ��S
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AAA s, f&P ea eaft� ,
E3
Slack Stack & Roe) Inca
"- pCAttON�
1620 W. FLAGLER STREET • MIAMI, FLORIDA 33135
MIAMI PHONE 0,13.04,13 BROWARD PHONE 763.0033
Pobv1l,1;'1l :8, 191110
Ci to oJ' Niami
0/0 beaf3G' 141anuilar
P. 0. Box 330708
Cocon ut Crova f:taGr:on
Ali cz In 1
!t'i 1�'LJli.,av Key Ala i'',,-na A.,"an,aCemcnt Agl,eemeY1't
!11'iuma1''i11a NaIIa(7aylan eC'171(?n
Cent lenlen.
.1 am plCaae'd t0 vub1'lit a p10Pa;aI t0 app1'aisa
the czbuve-Cape-!onvd propertLi.
fl11 f'GE f'0r 0108(•' evtiMa. tcd C1t
am rTltto propm,ed to vivo expert testimonll in thin c"aac.
1 QP1l1il i)1'1 t'l;cites' 1.I1�' "001'': tdllhi/'l a 'W001` OP 000
and vonlpld'le thc> rlpprcTival lJc:thill thit'ty (30) dalle of erlployrn,ellt.
T N%1/da
N(>.11�c.'U't,l'ulli� utlbnrittc'cl,
,
?'1115'000)31s' Iti), SC,:1C'n, t11/11, :'l1ili� ,
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e"940t �4,�,baattlt9 Speetal��t� tw e«w.Neset�l �ia,�cusat
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1
AMERICAN' INSTITUTE OF REA STATE APPRAISERS SOCIETY OF MEAL ESTATE APPRAISERS
MEMSER•CORAL GABLES BOARD OF REALTORS MEMBER-FLORIDA ASSOCIATION OF REALTORS
F. ROURT QUINUVAN, M.A.I., S.R.A.
I. MARK QUINUVAN, M.A.I., s.R.P.A.
REAL ESTATE APPRAISERS Q CONSULTANTS
1102 PONCE DE LEON 13OULEVARD 4
f
CORAL OADLES. FLORIDA 33134 �
TELEPHONE 444,1852
February 26, 1980
Mr. William H. Harrison, Lease Manager
City of Miami
P. 0. Box 330708 Coconut Grove Station
Miami, Florida 33133
Re: Dinner Key Marina Management Agreement
(and) Miamarina Management Agreement
Dear Mr. Harrison:
This letter is written in response to Mr. Gunderson's
letter of February 20, 1980, which relates to the re-
ferences above.
The following information is submitted related to said
appraisals.
I. This appraiser would be available to undertake
the appraisal assignments and would start upon
your notification of authorization. The time
to complete such assignments would be forty-
five days, to include the submission of the
finished reports.
2. Ten copies of each report would be furnished,
employing the appraisal techniques of the
American Institute of Real Estate Appraisers.
The primary approach to value would be based
on the Income Approach.
3. A determination would be made to conclude that
the City of Miami is receiving a fair rate of
return under the terms and conditions of the
related Management Agreements.
4. A signed Certificate of Appraisals for each
would be furnished.
"SUPPORTIVE
DOCUMENTS
FOLLOW"
t,
t
Page 2
Mr. William H. Harrison, Lease Manager
Re: Appraisals - Dinner Key Marina Management Agreement
(and) Miamarina Management Agreement
5. If expert testimony was determined to be
necessary, this appraiser would be prepared
to do such.
6. Appraisal fees would be as follows:
Dinner Key Marina Management •
Agreement $59000.00
Miamarina Management Agreement $3,000.00
Respectfully submitted,
F. Robert Quinliva , M.A.I.
FRQ : j t
"SUPPORTIVE
DOCUMENTS
FOLLOW„ 80_646
i
F. ROBERT QUINLIVAN, M.A.I., S.R.A.
). MARK QUINLIVAN, M A.1., S,R.P.A.
Appraisafi
of
Businesses'
and
Real Estate
Coral Gables, Florida U,S,A,
m
It JJ)TI VE
PP(
DoCUN F E/V r
oito s
w
r-
Appraisal and Valuation Services
Available To:
Attorneys, Executors, Trustees, Receivers,
Administrators, Rehabilltators, Credituis,
Investigators, Owners and Prospective
Owners of:
BUSINESS CORPORATIONS
And Unincorporated Businesses
Appraisals For:
Estate Gift and Income Tax
Valuations
Acquisition, Merger and Divestiture
Divorce Settlements
Litigation Involving Past & Present
Values
Financing, Including Sale -Leasebacks
Partnership Split-ups
Statement of Affairs
Statement of Realization and
Liquidation
Probate Reports
ESOP and ESOT Plan Financing
Tort Claims for Losses in Value
Disputes between Partners and
Principals
Real Estate Financing
Appraisals Of:
Capital Stock of Closely Held
Corporations
Partnership Interests
Unincorporated Businesses
Joint Venture Interests
Control Stock
Minority Interests
Insurable Values under Coinsurance
Clauses
Estate Assets
Business Assets — Real and Personal
Real Estate
F. ROBERT QUINLIVAN, M.A.I., S.R.A.
J. MARK QUINLIVAN, M.A.I., S.R.P.A.
1102 Ponce de Leon Boulevard
Coral Gables, Florida U.S.A. 33134
Tel: (305) 444-1652
"SUPPORTIVE
DOCUMENTS
�rS
LLOW
F. Robert Quinlivan, M.A.I., S.R.A.
Member American Institute of Real
Estate Appraisers.
Society of Real Estate Appraisers,
Registered Real Estate Broker, State of
Florida.
Registered Mortgage Broker, State of
Florida,
Past President, 1959, Mortgage Bankers
Association of Greater Miami.
Past Chairman, 1961, Real Estate Indus-
tries Council of Dade County.
Past President,1970, South Florida
Chapter No. 24, A.1.11.E.. .
Appraisal Clients:
U.S. Government, State of Florida,
Cities, Banks, Attorneys and
Private Clients.
JlMark Quinilvan, M.A.I., S.R.P.A.
Member American Institute of Real
Estate Appraisers.
Society of Real Estate Appraisers,.
Registered Real Estate Broker, State
of Florida.
Graduate:
University of Notre Dame BBA,
Finance.
University of Maryland MBA,
Finance.
University of Miami Law School
_� .r . ___..�.�.......y-..__
V
REAL ESTATE
RESEARCH
CORPORATION
P
Forte Plaza, 1401 Brickell Avenue, Miami, Florida 33131 (305) 377.4671
February 27, 1980
Mr. J. E. Gunderson
Director of Finance
Risk Management Division
P.O.Bot 330708
Miami, Florida 33133
Attention: Lease Manager
Dear Mr. Gunderson:
Id response to your recent request, I am pleased to submit this
proposal to complete the appraisal of two waterfront properties
owned by the City of Miami. Specifically, this would include the
Dinner Key Marina and the Miamarina.
We understand that these appraisals are required ,to establish an
estimate of value by the income approach based on the limitation
of zoning and terms of the respective management agreements. Based
on this estimate of value, a determination would then be made as to
whether the City is receiving a fair rate of return on the properties.
We are prepared to complete narrative reports on each of the
properties prepared in accordance with the standards of the
American Institute of Real Estate Appraisers, of which I am a
member. We are prepared to complete these appraisals within sixty
(60) days from your autllorization to proceed. Our estimated fee to
complete the two appraisal. reports is $7,000, which would include
delivery to you of ten (10) copies of each report. In addition, we
would be prepared to give expert testimony on the appraisals. Any
required testitnony would bo billed at actual time plus expenses.
We appreciate the opportunity to submit this proposal to you and
look forward to working with you on this challenging assignment.
Please do not hesitate to call if you have any questions.
11suppopmVE0C)COMENTS
SFh1/ers
FOLLOW it
Sincerely,
REAL ESTATE REFjARCIJ-'CO t ORATION
l �a• y'7
Stanley F.( Miller, Jr., M.A.I.
Senior Vice President
MEWERS:AMERICAN INSTITUTE OF REAL ESTATE APPRAISERS
Officus throughout the U.S. • SubsidiarY of first Chicago Corporation
t
f
P
EDWARD M. WARONNER, Pre$,
MAI, ASA, SREA
0
r.
TORS
Lease Manager
Office of Risk Management
City of Miami, Florida
P. 0. Box 330708
Miami, Florida 33133
February 25, 1980
Attention: Mr. Bill Harrison, Lease Manager
Letter from J. E. Gunderson, Director of Finance, dated February 20,
1980, Appraisals of Dinner Key Management Agreement and Miamarina
Management Agreement.
Dear Mr. Harrison:
PROPERTY CONSULTANTS INC. would be pleased to analyze
management agreements in order to estimate whether the City
receiving a fair rate of return under the terms and conditions therein.
the above
would be
The estimate of a fair rate of return would have to -be judged by comparison
with the rates being negotiated for other similar municipal facilities in South
Florida.
If the rates paid are judged to produce a fair return, then an indication of value
by the income approach, using sold rates, could be projected.
We can initiate work upon receipt of authorization from the City. The time
required to complete the analyses Is estimated at 30 to 45 days. The finished
reports will be furnished in 10 copies and will include signed Certificates of
Appraisal.
I am prepared to give expert testimony on the appraisals if deemed necessary
by the City of Miami. %.
Our fee for appraising this parcel would be $10,000 for the above assignment,
or $6,000 for Dinner Key and $5,000 for Miamarina, if assigned separately.
Please call me if you have any questions. I will appreciate information as to
the appraisers hired and the fee agreed on in the event we are not selected.
"SUPPORTIVE
DOCUMENTS
FOLLOW'
,1 MW.. or
property consultonts inc.
Very truly yours,
(��;7
4;006,-� 1 "C*�
Edward M. Waronker
ASA, SREA, MAI
9795 South Dixie Highway, Miami, Florida 33166 / (305) 661.8551
8"0 6 4 V
C
February 20, 1980
Charles J. Higler, MAI
Real Estate Appraiser
3508 Hibiscus Place
Miramar Isles, Florida 33023
RE: Dinner Key Marina Management Agreement
Miamarina Management Agreement
Inquiry or Reply should be
Directed to Lease Manager
Dear Sir:
l
You are invited to submit proposals for the appraisals of the described City
owned Waterfront Property, which are attached. Your proposals should include
the following information:
1. A statement as to your availability to make the appraisals;
when you can initiate the work, and the estimated time
required to complete the appraisals and submit the full
finished report,
2. The furnishing -of ten copies of the completed, bound narrative
reports on each of the described premises, establishing an
estimate of value by the income approach, based on the limit-
ations of zoning and Use and subject to the Terms and Conditions
Ot the attached copies of the respective 14doagerncnt Agreements.
3. Based on the estimated value determine if the City is receiving
a fair rate of return under the terms and conditions of the
attached management agreements,
4. You will furnish a signed Certificate of Appraisal for each of the
parcels. '
5. A signed statement that you are prepared to give expert testimony
on the appraisal if deemed necessary by the City of Miami.
6. A statement as to the amount of your fee proposal for the work
covered by Items 1 through 5 above. ,SUPPORTIVE
Panp 1 11f 11 DOCUMENTS
r I!
+'•h! + '+ )n ()! ! I V •1h� f J' l"") Hotu. 1 J1); Url l NI „nut 1 ,r+wl, �InUun � M1,UnI, I lu)uld ! 1.101,..1.. Y jl
OW
NI%IIIIR %It •d(II'\I H"".'l) +)III, IWN t1N •.1,1 1111 t MIIU til �I1�hll l ���11�
Appraisal for
City Waterfront Property
You are invited to submit this information depending upon your availability
to take the appraisal assignment. If you have any questions concerning
these matters, please contact the Lease Manager at 579-6318.
Your reply would be appreciated as soon as possible.
Sincerely,
i
71
J6mes E.•Gunderson
Director of Finance
JEG;WHH;bf
Enclosure;
Page 2 of 2
"SUPPORTIVE
DOCUMENTS
FoLLow11
(_; A :R TATON W. C 01, , ANC ,
NBUIH'1'!:1!!:B Ill!Al, I STATH NHONBII
NUAL VS'rATI'1 AillI tAISHUS AND CON141.113-AN'rs
CARMON W. CULF:, M. A. 1. wo Ai,mHIRIA AVENUE
COHAI. GAIIL1.S, V1.01110A 1111104
'1*HI..I'll ONV. I,IOMI ,14W-LUSU1
February 25, 1980
Lease Manager
Office, Director of Finance
City of Miami
P. O. Box 330708
Coconut Grove Station
Miami, Florida 33133
Re: Dinner Key Management Agreement A Miamarina Management Agreement
Dear Sir:
This is in response to a letter from J. E. Gunderson, dated February 20,
1980 regarding the above -captioned property.
I regret that we are unable at this time to commit ourselves to complete
the described report within what I think you would consider a reasonable
length of time.
Thank you for your inquiry. With bust regards, I am
Yours sincerely,
CA► UrON W. COLE, INC.
By: Carlton W. Cole, M.A.I.
WFIV
WCUNIEN-1
rn'-1 0 JAP)
S. %. B1:NNH.T'C A11.1-12A1t+A1. ('c)al'ANY
HFA1. tSNTAm CoaitiIttnWrH ANTI A111111AISMS
t407 AINSLEY BUILDING
Dit,�+t1, 1� 1,uulun 11sIII1L'.
TELCPHONE 371 1639
Lease Manager
Director of Finance
P.O. Box 330708
Coconut Grove Station
Miami, Florida 33133
.4. V. 1119NNL"4"r
H P.M1111N
AMC.RICAN INSTITUTE O/ CAL CSTATC APPRAISCRS
AMLRICAN !}OCICiy a RCARL CSTATC COUNUELOR5
SOCII: TT ❑C REAL CSTATC APPRAISERS
AMC RICAN SOCICTT OC APPRAISERS
IN STItUTC OI' RCAL CSTATC MANAOCMCNt
SOCICTT OP INDUSTRIAL RCALTORS
REALTOR
February 25th
1 9 8 0
Re: Dinner Key Marina Management Agreement
Miamarina Management Agreement
Dear Sir:
Thank you for your letter of February 20, 1980
relative to submitting a proposal for the appraisal of
the above described property.
Due to our schedule of commitments, this office
will be unable to undertake any new assignments for the
next several months.
S. z.
SZB:ep
.Very truly yours,
(NETT APPRAISAL COMPANY
I.,C.R.E.
Pres.
P.S. Please correct your mailing address to show:
14 N.E. First Avenue; not N.W.
r