HomeMy WebLinkAboutM-80-0196ter,:.:-- � ��.w.�:W,::�,�,,.._s.�:-_.
REAL ESTTE
RESEARCH
m
Slack, Slack & Roe., Jnc.
eAmosddezo .40%"" 5,occowdoemp es eammewal PwAvse44
CARLTON W.
COLE , INC .
9801STERED REAL ESTATE "HORED
REAL ESTATE APPRAISERS AND CONSULTANTSCARLTON
(LI
RIA AVENUE •'` �;I
W. COLE+ M, A, 1
CORAL GADLES F� ORIDA ; a�f04
TELEPHONE (a051' :47-2b21
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 'b 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 r..egret ,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.
best regard .I am
Yours sincerelyo
CARLTON W. COLE INC. .
By-.,'; Carlton W. Cole. M A J
AMERICAN INSTITUTE OF REA,.XSTATE APPRAISERS `IETY OF REAL ESTATE APPRAISERS
. MEMBER -CORAL GABLES BOARD OF REALTORS MEMBER•FLORIDA ASSOCIATION OF REALTORS
ter
The
aPP
1
r'
EDWARD M. WARONKER, Pres.
MAI, ASA, SREA
S. Z. BTN1L' TT APPRAISAL COMPAINY
;.�u=c�4: haYa::;ibk.iifd u�:t��vvsr. - ,.
��a�n�
1364ftc
Haskins + Sells
Certified Public Accountants
�, `'0C-. `- el ,boo Ode Southeast Third Avenue
Nli6mi, Florida 33131 .
` >: • 1305) 358-4141
�'-\`/telex 518814
Mr. James E. Gunderson '
March 5, 1980
Director .Of' Finance.
City, of. Miami
P. O.Box `330708
Coconut Grove',Station
Miami, -Florida> 33131
Dear-. Mr. 'Gunderson:
We appreciate receiving your
request`for'a,,pkoposa1
for the financial analysis of.
the management agreements.
on the City owned Waterfront"Property.
Due toprior,'
commitments, we are unable to
respond•to'this request;
however, we would like to receive any future°requests`.
for proposals for accounting
or consulting services.
Very truly yours,
y
DELOITTE HASKINS, SELLS
T
propos
and Mi
W
render
rate o
evalua
agreem
rates
belie
onr Itha
r
Elat,Marwick,Mitchdl&Co
Mr. William
H. Harrison _ ..
February 29,
1980
Page '3
." City,.of"Ft. Lauderdale - PMM&Co.`is presently assisting
the; Citty ,in.the renegotiation", of: the land,.' -lease or, the '
Bahia Mar:Hotel and Marina.'. 4ecifically. ,.we are.assisting
the City in. researching and; estimating the fdir return,
on the property to the City.
Results: The tenant has"thus far indicated a willingness:;
to,rais,e the, rent "by $200,000 annually each year the
next'34,years'or $6,800;000 in additional.cash flow to
the City. The 'negotiating teamis.hopeful'of obtaining
additional 'increases ".wh'i"le enabling "the ;tenant :to earn
a fair-"`re"turn and. continue 'to.provide.quality product and`
service.' Expensive litigation has so`far been avoided:
Contacts:. Mr. Richard Anderson,; City Manager, City of".'
L uderdale
305 -' ,761-2661
Mr: Bill Duke, Attorney
305 - ` 462-2000
Metro Dade County -:!-:Our 'Miami' office has been engaged"by"
Metro :'under 'a'Countywide Professional Services Agreement to
provide economic;. consulting services.'
= .Avation`Department = We assisted<the.:Dade County
Aviation`Department"in the acquisition of.the leasehold
interest of the,Miami International Airport .Hotel; by
determining a`fair price using .discounted cash flow
analysis. As`a part of'our work we.reviewed ands"ritiqued
the management contract` which`.replaced.,the.lease.
Results: The acquisition. has. been completed and"a,satisfactory
management company has been engaged. '-The cash "flow to DCAD has':
been increased by,.over,$l'000,000 annually which.wi"11 lead; to
a cumulative increase of. nearly';$6,300,000 above the, original"'
lease over the`next :,six,,years.
Contacts: Mr. ,Richard Judy,. Drector.'DCAD
305 = 526-2166'
Mr. John van,,Wezel,,Assistant Director DCAD
305 - 526-2315
"
Ms. Jane Finley, Comptroller DCAD
305.--526-2171
f v
DALE J. MASCHINO
ROBERT W. LEE
as to .why, Touche Ross & uo. is. un lyue l<y yuaiaa.a_cu I.Wa,vuu a�
225 PEACHTREE STREET, N.E. -SUITE 1400 - ATLANTA. GEORGIA`30303 - (404) 522.6823
ToudteRoss&?Ca OF", olk
m
Project'Organization.`6nd Timin
TatdwRw":,Q O
Tota:1 to Rays & Q
Resume of MICHAEL J. BROWN
Page # 3
Trna'1 ie Ross C,a ow-, /-
TotJze R%s &Ca
Tot die Ross &., Q o" op,
■
Tou heRoss&Cn (�
ToudzeAme-G
OV
Resume of
STEPHEN W. BURNETT
Page # 5
Wilmington Trust Company,,
Wilmington, Delaware' �.
Operations:' daily computation and management. of
the money in position, cluding participation in the
Federal' Funds Market.
Security'Analyst: investment securities for"both
pension and individual trust`portfo1,
U. S.-Army, Ft. Eustis, Virginia.and"II'Corps CZ"
Republic 'of Vietnam
.Communi'cations Officer: responsible fo'r:the estab-
lishment.and continual review of writ"ten,. oral and
electronic communications within"a"headquarters
sector.'
- Executive Officer and'Company Commander: respon-
sible "for the.'adminiztrati"on and 'missi'on
effectiveness of a transportation:"truck"company.
Education
University of Tennessee, MS"in Finance..,.
Wake Forest Uni'versity`,"BA in Economics
Cert°ifications
'Certified:Management Consultant
Professional
Inst'itute,;of.:Managemen`t Consultants,
Georgia,Associati`on"of,:Assessing, 'Of ficials
American 'Society for Public Admini's`tration"
Municipal' Finance:Officers Association..'
international City"Management Association
'
Atlanta . Chamber , ofCommerce -, Task Force -on ;Public
Finance and; Taxation (Chair,)_!
Central,Atlanta Progress-.�advsory"member"
National Association of'Housing.and Rehabilitation
Officials"
Presentations
"Risk AnAlysi's"and Forecasting," American Management
Association�._
"Return on Investment,:"'American Management Associa-
t ikon
"How to. Schedule and Purchase,";Georgia Homebuilders
Association
"Research and_. Evaluation in Local 'Government,"
Presentation sponsored by Fulton County, Georgia
and The"Urban"L'ife Center_of,Georgia State
University
"Contingency al Government," Presenta-
tion'sponsored by NCR Corporation (Moraine Farm'
Seminar)
"Pr-ducti'vityiIssues in Local Government," Seminar
sponsored by Management ;Science America (MSA)
"Commentson ;"Urban FiscalStress", Presentation
sponsored by The Georg ia:Muhicipal Association
e•
m
tlined in
OP.� -3OAN
-
March 5, 1980
Mr. William Harrison
Expert Tes imonv
the conclusion of our work -.and .at the reque"st of the:
U on
P
would be in a"'position to provide testimony"-
City. of Miami
all facts and opinions encompassed in our.�wor}•.
on
L & H"QUALIFICATIONS
'-h is an internationaaccounting and manage-
Laventhol & Horwa
merit consulting firm with offices. in 35 cities across - the
United State In addition, the firm is .associated with;
gorwath Internationa]:, which has over 100 offices ,in
..
Horvath &
foreign countries. As one of the ten largest.firms.of ride=
P endent certified''public accountants;,L & H has provided
tax and management advisory services. to
`
auditing,' accounting,
a
a ear
clients in industry"and government for over 60 y"ea
k
is
Siits inception in 1915, L & H has beer. recognzed`as a:
rice �:
leader. ,in the leisure time and real estate in, The
placed on these in�3ustries is e:vidended ,`by the
fact that L&
a ac
De
,q �+a ,stic' fer the leisure time industries. These
- 5 - or,
Mr. -William Harrison _ March 5, 1960
data, along with projections and comments, are frequently
quoted im leading"newspapers, magazines and hospitality
journals.: This. information and the, department's research
capabilities are utilized in the publication of many studies;
including the following:
...'Annual'rlorida Country Club and Yacht Club Study"
..:.;>Annual "Lodging, Industry" (United States)
:.. Annual Study of.Florida Hotel, ;Operations
.'.. Annual "Worldwidie Operating .Statistics of the.",
Hotel Industry
.:.';Annual "Table'service Restaurant;Op;erat ons'Report
�.
"for the "United States
..., Monthly "Trend of Business in:the:Lodgng Industry"
"The; Tourism Gap: Can It Be Bridged?" .
.Lodging Industry: A.Survey of.-'.
...'"Financing"the
�� Lender `Attie udes ""
..: Co-authors of.",The Uniform System of Accounts for
Clubs"
..; Co-authors of."The Uniform Systern: of Accounts for
Hotels and Motor Hotels"
Z &;H's,.National"Leisure Time',Industries Department is actively
engaged in compiling and evaluating.mark6t and.;operational data
on:hospi ality related enterprises,'including tourist and
r r.
O' - 7- Or,
Mr. William Harrison March 5,-;1980
ESTIMATED 'TIMING".AND FEES
We are prepared to :begin this engagement.' within two"weeks of
receipt of your, authorization. We will present our final
report within 30 days from the commissioning;date. We will,
findings an1tehoweverbe prepared.to discuss our compd
conclusions"with you prior to the issue of, our final.report.
'In conformance with the Accountancy Law an `Rules relating .to
the practice of'publi, accounting. as published by the Florida
State Board of'Accountancy.,` under Rule 2TA-7.OS,.we are not
permitted 'to quote, fees in 'a competitive bid for, a professional
engagement. For your 'conven ence, we have attached,a copy of
this rule :which not only 'outlines the bidding.: procedure, but'
the negotiation rule as well. Should we be .selected; weare
"prepared to negotiate a satisfactory contract.."
Our fees will be based': upon the time requirement"s,outlined
herein and will be, calculated on an"�hourly basis plus out of=
pocket ehpenses.incurred.
trust"thi`proposal accurately defines,your.objectives and .
We s
are certain that our methodology will provide the basis for a
comprehensiveiand'accurate analysis`.of, the city' rate of
return:. Please contact Mr Michael A. Stein of our firm for
-8-
r or,"
" : , I
1
(") "CPA Competitive Negotiation Pule"
:1A4.05 Bidding j
(a) prescribe ;a manner in which
(1) A practitioner shall not make a competitive bid 1
-Purpose—To
practitioners ma;' participate, in 'a .negotiation
fora professional engagement. Competitive binding
process o prot-ide professional service to potential
fo-_ public accounting services is not in the public 'in-
consumers of such services alloaznF the" quotation
terest, is a ?or--i of solicitation, and is unprofessional
of 2. basis of fee,
(2) As used in this rule, "competitive bid" means 'the
(b) Competitive negotiation
submission of an offer to a prospective client, as dis=
/ (i) A. practitioner may respond .to any request
tinguishea; from `an existing client, or representative
for proposal from a person or; entity -giving
thereof, by a practitioner, either orally,or in �ritine,
qualifications and 'other factual information es•
directly or indirectly, as either a prime contractor, a
eluding any; quotation as'to basis of fee.
subcontractor, or, a subcontractor using a .prime con•
60 L a practitioner's proposal in (i1'above is
tractor as a conduit, to perform a professional 'engage•
the 'on)y proposal: received or `accepted by a
ment for an estimated fee, a axed fee, or a,basis of fee
person or entity the practitioner may negotiate
when"the'`surrounding facts"and circumstances 'indicate
a basis of >fee for that engagement. L a per•
that another firm, professional service corporation or
son or entity receives more than one proposal
person kill be asked to make an offer, has been asked
for the same" en)agement,. the person or ent:ag
to''make an offer, or has male`'an offer which has not
mar; ranl:,;in "order ofpreference, the practi-
been'reiected, to perform the same professions] engage•
tioners to perfo:m said engagement.. The prac-
ment for `an estimated fee, a axed fee, -or basis of fee
titionez ranked first mav•then negotiate a con-
as'defined; in this'ruie.. ?he perfornance of an engage-
tract. arith ahe person of entity giving. among
meat for.'a specific purpose, which engzgement by. ;its
othe,-Ahings, a basis cf>fee for that ;,engage-
natur a is, not expected to recut, does not create an "ex- .
meat. Shoulc the person or en:irr be unable
that
•++
isting: client relationship.
to "negotiate "a .satisfactory contract sri-h
"
practitioner. negotiations with that practitioner
(3)The I terra ,"Subcontractor" as used in this Rule"
shall be formally terminated and the person or
means a subcontractor"whose actions, together with the
eat tv shill, the-''under✓,ake negotiations with
surrounding' facts and circumstances; are in such- a
the :seconc''ranked. practitioner. Failing accord
manner as'to, make him a party to" a competitive bid :o:
a-ith' the second .'ranked; practitione:, negotis-
bids, elth,erwith respect to a specific engagement or, as
tions shzl?' oe terminate' and undertaken vnt=
a result; of a'series of engagements with the same prime
the' third •ranked practitionez,' etc. Once negu-
con .actor. and without regard to whether a subcon-
i•
tiations have bee.n uncle' -en vith a subsequent
tract is entered into before or after the bid.
practt ioner, a p^ actitioner shall no: `contract
(;) All "applications for special permits required br
si•ith the, requesting person or entity: for the
Section 3 :131(1) , F.S. " shall be accompanied by a
same engagement.• .
statement ,of the rapplicant, or if it is a partnership `o: '
'.
(6) A practitioner, may ask to be placed or. `"request
a",professional service corporation, by a partner ;or
for ;a„proposal" mailing, list of any, agency; indicating
stockhoidez of 'he applicant, to the effect that the cur-
a desire a receive reovests for proposals from said
`•"", rent contract for the public accounting services to be
agency git=ing oniy.t e tame.and mailing address and
performed in Florida was not obtained by competiti� a
telephone =,number For"" purposes of this ` rule, "an
hid"as defined by this Pule.
agency"'means any federal state,' municipality, school
(5) No Florida practitioner who is an agent for as
district, school boarc,,or political subdivision thereof
,.; out-of-state practitioner as pro -ided in Section 973.3 1,
and•a "request for;proposa] , is the request made by an
F.S., shall perform public accounting .services .in :the '
agency for"e proposal to provide professional services.
State, the contract for which was obtained • by such
General ': authority 47?A;, F.S.; Law implemented,
out-oi-state practitioner,,unless;he has ascertained with
473.30, F.S.
reasonable certainty that the, current contract for such
services was .not obtained by, competitive bid as .de="
fined" by this Pule.
(6) No :Florida practitionez who has. a permanent or.,.
continuing correspondent relationship': vnthi an out-of-
state practitioner`shall,perform:pubiic:accounting sere•
ices" in: the State"" for" such out-of-state practitioner, un-
- less he has ascertained R'i:^ reasonable ce.^.a
' the current contract for 'such services was not obtained
' by'compe'titive bi' as aefine d"by;tl,is Pule. "
r` r:
LIST OF APPRAISERS
1..
Ralph A..Lips President
11.
John,E. Milloway, MAI
Peninsula Federal
Abbotf Management
200 S.E. First Street
9095 SW 87 Avenue
Miami s Florida 33156 585-0234
Miami, Florida 3313E
12.
F. Robert Quinlivan, MAI
2.
S. Z: Bennett, MAI
1102 Ponce Leon, Blvd:,
S. Z.;Bennett Appraisal Co.
,de
Coral Gables, Florida: 33134
Ainsley Building RN:` 1407
444-1652
14:NE First'Avenue
Miami, Florida 33132371 1639
13.
Charles Fa 1 l a, r MAI
3.
Leonard A.Bisz,°MAI
111D Brickell Avenue
Miami, Flor.'ida 33129
Appraiser.
2511.Ponce de -Leon -Blvd.
;Coral Gables,'FTorida' 33134
W;:Slack, MAI,.ASA
:Slack, Slack, &_ Roe. -;
�.4.
W. Bates Cole,'MAI-
1620 West Flagler-Street
129 Almeria Avenue,
-Mi_am
Florida": 33135 ' 443-0443
Coral Gables', Florida 33134
15. State wide�Appraisal
-Services, Inc.
5: -Howard Delahanty �269 Giralda Avenue.
Delah'anty :& Associates Coral Gables, Florida 33J34 444-621:
Cor6°1' Gables
6. Harry D. Flen
ral Gab 1 es,.i, F1i
7.'
uite
�ociates
r e
CERTIFIED PUBLIC ACCOUNTANTS
1. Arthur Anderson & Co.
1,Biscayne Tower Suite 2100
Miami, Florida 33132
2. Alexander -Grant & Co.
;1000,BrickelI Avenue.
Miami, F1or.ida 33131
3.` Coopers & Lybrand
First Federal Building
Miami, F1ori'da 33131
4.' Laventhol & Horwath
201 Alhambra Circle
Coral Gables, Fla 33134
5. Price Waterhouse &'Co.
330 Biscayne -`Blvd
Miami, ,Florida .,33132
6. Peat,.WarwicK,.Mitchell IVC
E ,1000 Br;ckell Avenue
- Miami Florida 3313 .
3x. .
7 Touche.Ross & Co.:
Rivergate Plaza Bldg. 3rd Floor
_. 444`Brickell Avenue
Miami F1 on da 33131
8 Haskins; & Se11s
First Feder.al.Building
,. Mami,Florida 33131'`