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Home My WebLink AboutM-77-0156W, ttAtkS Cott. C$, MAt SttPA. ASA, SFt-WA i Atit.to', W. Cott. MAt 06, COLE APPRAISAL COMPAi tikat4i'Vti.t5 #ef.AL r i'ATE $ivelisitiit titAt IEStkit APPRAtst Rs k'qb Co'st:LT.ASts February 23, 1977 Mr, Joseph P. Grassie, City Manager City of Miami, Florida 3500 Pan American Drive Miami, Florida 33133 F. F, C / P&O Property bear Mr, Grassie: 120 ALMMt aiA Av 14tt31 Cbt?At GAfltf s, ttt RtbA si1►i3 ;not) 43.1,-821 i Ch Thank you for yo,ir letter of February 17, 1977. My answer is as follows: 1, I would be available to prepare the appraisal. I could initiate the work immediately and could complete the appraisal sixty days after I am furnished the information by the consultants recommended by Mr. J. I. Wilson. 2, I have discussed with Mr. Wilson the consultants whom he has recommended and find they are acceptable to me. 3. I would furnish five copies of the completed bound narrative reports on the project, setting forth my estimated fair mar- ket value, including signed Certificate of Appraisal. 4. While your letter does not indicate condemnation action by the City, it is contemplated by me that the property can only be acquired through condemnation. My minimum fee (if no condemnation action takes place) would be $20, 000; and my maximum fee (if condemnation action takes place), including preparation for trial, exhibits and court testi- mony, would be $30, 000. lAi:vanwr...11af MOW. Respectfully yours, Cole Appraisal. Company ty'. Sates Cole, M. A ,,7072.44/ 7-- rr STATEWI E APPRAISAL SERVICC INC. """'.Attle)M 414 1:-AtiiN • L:�14 14G, J R , M A I , s I4 E. A., A 4.ES,GEN7 tans EIPtCKELL AVENUE I IAMI, kLOrnbA 33t31 tELEbNONk (305) it)-9t4S February 22, 1977 Mr, Toseph R. Grassie City Manager City of'Miami, Florida 3500 Pan American Drive Marnt, t'lorida 33133 RE: Florida East Coast Railway and P & 0 Property Dear Mr. Grassie: This is to acknowledge receipt of and thank you for your inquiry regarding the availability of my services to appraise the real estate to be acquired in the above styled project as delineated by the survey prepared by Biscayne Engineering Com- pany, dated May, 1976. My reply as to your invitation to submit a proposal for this appraisal work is as follows: 1 . I am available to make this appraisal and can initiate work upon authori- zation. My best estimate of the time needed to arrive at the market value estimate would be 3 months. The time to complete the bound, narrative appraisal report could take an additional 2 to 3 months. The timetable for both depends upon the availability of information to be prepared by experts and consultants to assist the appraiser in this assignment. I will work diligently and expeditiously to expedite this appraisal so that the comple- tion of my value estimate and report will coincide with the time for perfor- mance of Mr. J. I, Wilson, M.A.I. 2. I agree to and am willing to work with Mr. 1. I. Wilson, M.A.I., and with any other consultants and experts which he may recommend to assist the appraisers in the preparation of this appraisal, which are to be approved by the City Commission on February 24. 3. I will furnish five (5) copies of my complete, bound, narrative report set- ting forth my estimate of the market value including a signed Certificate of Appraisal. I agree to exercise independent judgment and to complete the appraisal assignment in accordance with sound appraisal practice and the Code of Professional Ethics and Standards of Professional Conduct of the American Institute of Real Estate Appraisers of the National Association of Realtors. (Continued) :°.k' t,."G4mir si:�ok.). �&a'.`AA'ivKk fibt4++YlxRFXAk'�Ah<#�A k'kwvWE:HiW.q,SRYi4+A9.i'.'.�tMVNn9J�W+�x+i�Ma1. .TAIL wt AP AI AL 8e0tvtota. ftv , page You ate aware that appraisal fees ate predicated upon the tithe and labdr required, the novelty and difficulty of the appraisal problem, intridadies involved and the professional skill requisite to perform the serviees prpm erly. The estimate of time that will be required is somewhat difficult to forecast at this writing because of the unknowns regarding the time savings and input which will be provided by the consultants. However, based upon my experience in appraising other complex type properties with. comparable valuation ranges and uniqueness, a reasonable fee projection is froth $2 ,000 to $30, 000 . Upshot ranges on the low side would be $20,000 to $22,000, and on the high side, a maximum of $35, 000 . However, 1 would anticipate that the appraisal fee could be maintained in the lower range of the fee quo- tation. t appreciate the opportunity of submitting this proposal to you and if you have any questions regarding this reply, 1 would appreciate your contacting me. Very truly yours, HDF/mgm 4 iujo 4 "El JblEttlitkill A1,1,11AIS‘, AL tiANS* REAL tStAtE Coiist.t.tisTs ANt) APPRAIst:Its t4o7 Alkst.ereUlLOi4,1 MtAtt, PLOtti1J.k tet.cakolvc Mt. Joseph A. Grassie City Manager City of Miati 3500 Pan AMerican briVe P. O. tax 310708 Miami, Florida 33133 Dear Mr. Grassier 4ttit* tNSTiture ,Or *tit. ent•TE AOP•A,ItOt sOCICI,e 0, DELL couktsCLOPt .5c,c1r-v or it.StArt Lapea,gklbS %cc.Eir tlr Aotftetuttoi ..t's.ti•urt c At. knilytt 1444Aotortirr ro:ICtr.T.,� uSTOIAL EAL.roPi Pebruary 18th 197, Re! F.E.C./P&O ProRertX Thank you for your letter of February 17, 1977 regarding a proposal for the appraisal of the above cap- tioned property. This office will be unable to submit any proposal at this time due to commitments previously scheduled. Please be assured that this office is willing to cooperate in any manner with the City of Miami and the appraisers selected by the City. 92B:ep Sincerely, S. Z. BENNETT APPRAISAL COMPANY / // M.A.I.,C.R.E. ,// • Pres. • et-#teE • Cat 418 f tpit difr Mr. Rarry b. Fleming, Jr., M.A./. 1441 trickell AVenue Miami, Plorida F.E.C./P&O Property bear Mr. Fleming: rig I 7 w o li5c0 4A0i,:zOt btiv4 fa- Et3*Iridt3 #1_,t1/4:64ti The City of Miami has selected J. i, Wilson as One appraiser for the P.E.C./P&O PrOperty. tt was suggested by tif. Wilson that it would be to the City's advantage to have a second appraiser. You are invited to submit a proposal, and your proposal should include the following information: 1. A statement as to your availability to make the appraisal: when you can initiate the work: the estimated time to com- plete the appraisal and submit the full finished report. 2. Agreement and willingness to work with other consultants in the preparation of your appraisal, which consultants will be recommended by J. t. Wilson and approved by the City Commission on February 24. 3. Furnishing five copies of the completed bound narrative reports on the project, setting forth your estimated fair market value, including signed Certificate of Appraisal. 4. A statement as to the anolznt of your fee for the above work. Attached is a copy of the City'certified survey of the complete parcel. If you have any questions on this matter, please contact Mr. Grimm, 579-6040. It would be appreciated if this information could be returned to the City Manager's office on February 23, but no later than the morning of February 24. rJoseph R. Grassie City Manager ,/ • Sinf !zerely i/....- / / /,,_.. , , , ,- --, ''..// .... s. /0/ C.....- 7. •-a. --1.---".--,'-", t .11 t f . -1,i, t • "P.-v.: • .." . , , En • Note: This same letter also sent to: S. Z. Bennett, M.A.I. 14 N. E. 1st Avenue and W. Bates Cole, M.A.I. 129 Almeria Avenue Coral Gables, Fla. 0 tote OF,` F-Lbr).16A If4rE•tiFFItt to, deore F, kroox# at, PR6g1 city Attorney PILE. un:crV.t,C,./P&O Property Apprai§al t ' , c E3 Joseph P., Grassie City Manager /. As you are awarle, at the E'ebruary 10th meeting the Cottission intltructed the City to have full apptaisals made of the propertyk and that the prihcipal firt conducting this appraisal Would be olo I. Wilson. The fee suggested would not exceed $150,000 which would include all the other professional ton.= Sultants as well as a second appraiser. In discussing this problem with Mr. Wilson, he felt that should the City hire an outside attorney to aid it the acqui- sition, that he should be hired immediately so that he would participate in any legal guidance the appraiser or other consultants needed. He also felt that this preliminary legal expense would be covered by the $150,000 fee. I would like to suggest that you draft whatever agreement is necessary which would be in context with the Commission's request. 8y copy of this memorandum, I am instructing all Department Heads who might participate to give their full cooperation to your staff, to Mr. Wilson and to any other consultant that might be selected. Mr. Grimm in my office has been appointed coordinator for this project. Please feel free to call on him for any information you nee. cc: Public Works Finance Department Management Services