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HomeMy WebLinkAboutRESPONSE - RFP - 7424 APPRAISAL SERVICES (4)PROPOSAL REAL PROPERTY APPRAISAL SERVICES CITY OF FORT COLLINS, COLORADO RFP NO. 7424 APPRAISAL SERVICES REQUESTED BY: CITY OF FORT COLLINS PURCHASING DIVISION 215 NORTH MASON STREET, 2ND FLOOR FORT COLLINS COLORADO, 80524 HEGARTY & GERKEN, INC. TOWER COLORADO 1720 SOUTH BELLAIRE STREET, SUITE 806 DENVER, COLORADO 80222 SUMMARY OF EXPERIENCE AND QUALIFICATIONS CHARLES J. HEGARTY, MAI EDUCATION • M.B.A., University of Denver, Denver, Colorado; Master of Business Administration, Finance. • B.S., Colorado State University, Fort Collins, Colorado; Bachelor of Science, Accounting EXPERIENCE • Twenty six years of progressive experience in appraising real estate interests including valuations used in litigation, bankruptcy proceedings, casualty insurance settlements, lease negotiations, Ad Valorem tax assessment appeals and Eminent Domain activities. • Six years of progressive experience in public accounting including financial consulting and auditing for energy companies, construction firms, municipal governments, real estate developers and private colleges. Financial consulting projects have included debt restructuring and profit improvement programs for troubled real estate developments, and financial feasibility studies for new commercial and residential development projects. Developed software for analyzing the feasibility of real estate financing alternatives. Have testified as an expert witness concerning real estate valuations in United States Bankruptcy Court, and Adams County, Arapahoe County, Boulder County, Clear Creek County, Denver County, Douglas County, Jefferson County, Summit County, Grand County, Gilpin County, Pueblo County, El Paso County, Pitkin County, San Miguel County, Weld County, and Mesa County District Courts. PROFESSIONAL AFFILIATIONS CLIENTELE Member (MAI), Appraisal Institute, (National Finance Committee Member 1994/1996) Certified General Appraiser, State of Colorado, (#CG1313146) Member, Colorado Society of Certified Public Accountants Member, International Right of Way Association, Chapter 6 Partial listing of clientele served includes: US Bank Denver Water Routt County, Colorado First Bank, N.A. Fairfield Residential Wells Fargo Bank Vectra Bank Real Capital Solutions Citywide Banks City of Colorado Springs Target Corporation City of Thornton Sheridan Redevelopment Agency City of Broomfield Superior Urban Renewal Authority E-470 Public Highway Authority City of Aurora Xcel Energy Colorado Department Of Transportation Metropolitan Life Insurance Company Regional Transportation District Numerous other individuals & attorneys SUMMARY OF EXPERIENCE AND QUALIFICATIONS GREGORY T. GERKEN, MAI EDUCATION O M.R.E.C.M., University of Denver, Denver, Colorado (1994); Master of Real Estate and Construction Management. O B.S., Northern Arizona University, Flagstaff, Arizona (1981), Bachelor of Science in Industrial Management. O Certificate of Completion — Valuation of Conservation Easement Certificate Program (2008) EXPERIENCE O Over twenty one years of experience in appraising numerous commercial, residential, industrial gravel properties and vacant land. Eight years of progressive experience in professional sports, product marketing and industrial plant management. O Has testified as an expert witness concerning real estate valuations in Gunnison County, Weld County, Boulder County, Broomfield County, Denver County, Adams County, Pueblo County, Gilpin County, Park County, and Jefferson County District Courts. PROFESSIONAL AFFILIATIONS O Member (MAI), The Appraisal Institute O Certified General Appraiser, State of Colorado, (#CG01315799) CLIENTELE O Partial listing of clientele served includes: US Bank Lincoln Property Company Corum Real Estate Group, Inc. Baca County Commissioners Cargill Financial Services Corp. Wells Fargo Bank Regional Transportation District (RTD) Hallett Construction Company Citywide Bank Colorado Dept. of Transportation Great Outdoors Colorado (GOCO) Vectra Bank -Southwest Branch Trust for Public Lands City of Aurora City of Arvada City of Lakewood Adams County Housing Authority Denver Housing Authority City of Manitou Springs Federal Deposit Insurance Corporation E-470 Public Highway Authority Cellular One Atchison, Topeka and Santa Fe Railroad Numerous other cities, individuals & attorneys 111,GAR77 d, GERKU, INC. Real h*smre App,,,,c rs & Cnnndmnts ATTACHMENT"C" SUMMARY OF EXPERT WITNESS TESTIMONY Gregory T. Gerken and Charles J. Hegarty Hegnrty & Gerken, Inc. Real Estate Appraisers and Consultants SUMMARY OF EXPERT WITNESS TESTIMONY BY GREGORY T. GERKEN, MAI JANUARY, 2000 — JUNE 2012 JOB .-.,CLIENTIDESCRIPTION. .. DISTRICT COURT. :' 1. .� b . PROPERTY DESCRIPTION-' TYPE OF PROCEEDING" TYPE OF . SERVICEI 99021 City of Denver v. Hallett Materials Denver Box Elder Farms @t DIA/gravel site Contract Dispute Hearing 20019 Denver Water Board v. Roger Rossi Denver Gravel/industrial site @ Brighton Blvd. & York Str. Condemnation VD, VT 20025 E-470 Authority v. Rick Wagner Adams 136th Ave. Nome Str./Gravel Site Condemnation VD, VT 20136 E470 Authority v. Albert Frei Adams Gravellwater storage site @136th Brighton Rd. Condemnation VD, VT 20148 E-470 Authority v. Elkhart LLC Adams Land at 128" Ave & Sable Blvd. Hearing/Condemnation VD, VT 20149 E-470 Authority v. Lafarge Corporation Adams Gravel/water stg. site @ 132nd Ave. & Brighton Rd. Condemnation VD, VT 20202 RTD v. Barton Supply Arapahoe Ind. Improvements/contaminated soils Condemnation VD 20107 Aurora Urban Renewal Authority v. Coleman Arapahoe Commercial land in Florence Gardens Condemnation VD, VT 20111 Aurora Urban Renewal Authority v. Reifel Arapahoe Commercial land in Florence Gardens Condemnation VD, VT 20110 Aurora Urban Renewal Authority v. Lagerstam Arapahoe Commercial land in Florence Gardens Condemnation VD, VT 20132 Northwest Parkway Authority v. Hoopes Farm, LLC Broomfield Land — Vic. 152nd Ave. & Lowell Blvd. Condemnation VD, VT 20301 Arvada Urban Renewal Authority v. Lake At CCP Jefferson Former Gravel Lake — 7500 W. 52nd Avenue Hearing/Condemnation VD, VT 20108 Aurora Urban Renewal Authority v. Skogland Arapahoe Commercial land in Florence Gardens Condemnation VD, VT 20408 Board of County Commissioners v. Lisa Dawn Gold San Miguel Residence in San Miguel County Condemnation VD 20390 City of Golden v. Sally G. Buckland; et al. Clear Creek Gravel/Water Storage Reservoir Condemnation VD, VT 20544 City of Aurora v. Dominico Adams Retail Building Condemnation VD, VT 20105 Aurora Urban Renewal Authority v. Wall Arapahoe Development land in Florence Gardens Condemnation VD, VT 20523 Sheridan Renewal Agency v. Almost Anything Stored Arapahoe Development land in Sheridan Hearing VT 20464 City of Lafayette v. Leistikow Boulder Gravel, water storage, conservation esmt. Condemnation VD, Vr 20530 Bauer V. Eiberger Weld Gravel, water storage Hearing VT 20901 Park County Commissioners et.al. v. Park County Sportsmen's Ranch Park Ranch Land Hearing VD 20835 Board of County Commissioners v. Continental Rifle, LLC Garfield Vacant —Industrial/Gravel Condemnation VD, VT 1 - VD = Valuation testimony at deposition; and VT = Valuation testimony at trial/hearing SUMMARY OF EXPERT WITNESS TESTIMONY BY CHARLES J. HEGARTY, MAI (September, 2007 — September, 2012) JOB NO CLIENT/DESCRIPTION ;, y a`. DISTRICT COURT r." ' `' •tP.ROPERTY DESCRIPTION , " TYPE OF PROCEEDING TYPE OF SERVICE ,. 20705 Town of Telluride v. San Miguel Valley Corp. San Miguel Telluride valley floor land Cost Hearing VH 20615 Tamara Story v. Richard W. & Patsy Bly Jefferson 7809 Blue Creek Road Inv. Condemnation VH, VT 20654 CDOT v. Sheep Draw Farms, LLC Weld Land on U.S. Highway 34, Business Condemnation VH 20802 Sheridan Redevelopment v. CBS Outdoor, Inc. Arapahoe Billboard at 3535 S. Santa Fe Drive Condemnation VT 20711 Town of Parker v. Mountain Man Fruit & Nut Co. Douglas Land at Mainstreet & Pikes Peak Dr. Condemnation VD, VT 20801 City of Colorado Springs v. Andersen Mahon ElPaso Retail building on Academy Blvd. Condemnation VD, VT 20803 RTD v. Oscar Albert Becker, Jr. Broomfield Outdoor storage yard in Broomfield Condemnation VH, VD 20954 Adams 12 Five Star Schools v. Auto-trol Real Estate Adams Office/flex building in Thornton Abandonment VD, VT 20951 Public Service Company v. Majestic Realty Co. Adams Vacant sites in Majestic CommerCenter Condemnation VD 22052 Public Service Company v. Arrowhead Winter Park Grand Undeveloped land in Winter Park Condemnation VD 2011-06 City of Glendale v Anthony Marino Family Trust Arapahoe Retail building at 490 S. Colo. Blvd. Condemnation VD 2011-12 Glen L. & Patsy West v. Todd Amen Clear Creek 1000 Singing River Ranch Road Private Condemnation VH 2012-10 RTD v. 5200 LLC, et al. Denver 5200 Smith Road Condemnation VD 2011-19 RTD v. Ascendant Capital Partners DNA, LLC Denver 4300-4400 Fox Street Condemnation VD, VT 2012-26 City of Black Hawk v. Debra Start, et al. Gilpin 230 Chase Street, Black Hawk Condemnation VT 1 - VD = valuation testimony at deposition; VT = valuation testimony at trial/hearing, & VH = valuation testimony at hearing ATTACHMENT "D" PROPOSAL COST SHEET Hegarty & Gerken, (nc. Real Estate Appraisers and Consultants IV D. PROPOSAL COST SHEET Supply the hourly rates for the following: 1. Hourly personnel rates for project team members: 10, a. b. C. d. e. I 2. Appraisal services hourly rate of pay — One specific rate of pay for the performance of all appraisal services except litigation services: 3. Litigation services hourly rate of pay — One specific rate of pay for the performance of all litigation services: $ O C1V 4. Breakout of reimbursable costs: (these are included in rates 2. & 3. Above). a. b. C. d. RFP 7424 Appraisal Services Page 7 of 30 TABLE OF CONTENTS Page TABLE OF CONTENTS.......................................................................................... 2 QUALIFICATIONS................................................................................................... 3 SUMMARY OF RECENT VALUATION PROJECTS ............................................. 3 QUALIFICATIONS OF KEY PERSONNEL............................................................ 5 ADDENDA Attachment "A" — Professional References Attachment "B" — Resumes for Gregory T. Gerken and Charles J. Hegarty Attachment "C" — Summary of Expert Testimony Gregory T. Gerken and Charles J. Hegarty Attachment "D" — Proposal Cost Sheet Hegar(y & Gerken, Inc. Real Estate Appraisers and Consultants 2 QUALIFICATIONS Hegarty & Gerken, Inc. was organized in January, 1993, as a Colorado Corporation. The founding principals of the firm were formerly associated with William Woolford and Associates, a Colorado real estate appraising and consulting firm. Today, Hegarty & Gerken, Inc. prepares appraisal reports and provides other supporting appraisal services to a wide variety of clients associated with the real estate industry in the Denver metropolitan area and throughout Colorado. Hegarty & Gerken, Inc. accepts a wide range of real estate valuation assignments and generally specializes in unusual and complex assignments. In recent years much of the activity of the firm has been directed toward the preparation and presentation of reports and data for public organizations including Cities, Counties, and State agencies, and in the preparation and presentation of expert testimony in cases involving litigation. Expert witness testimony is provided for clients in cases involving eminent domain takings, tort litigation, business operations, divorce settlements, and estate valuations. Much of this activity is directed toward meeting the widely -divergent needs of all levels of government, and those of numerous commercial, industrial, and institutional property owners. SUMMARY OF RECENT VALUATION PROJECTS Hegarty & Gerken, Inc. has extensive experience in appraising a full range of commercial and residential properties including investment grade apartment complexes, office buildings, shopping centers, industrial buildings, vacant residential development land, conservation easements and agricultural land. A sample of recent assignments by the firm involving eminent domain proceedings are summarized as follows: Regional Transportation District's FasTracks Project — Voters approved funding for the FasTracks project in November, 2004. FasTracks is a multi- year, region -wide transportation plan that includes 122 miles of new light rail and commuter rail; 18 miles of Bus Rapid Transit (BRT); 57 new transit stations; and enhanced bus service. The West Corridor Light Rail Project will extend light rail service from downtown Denver to the Jefferson County Government offices in Golden, Colorado, and the East Corridor Commuter I/egarYy S Gerken, Inc. Real Estate Appraisers and Consultants 3 Rail Project will extend commuter rail service from downtown Denver to Denver International Airport. During 2008 and 2009 Hegarty & Gerken, Inc., on behalf of RTD, completed appraisal reports on 27 commercial, industrial, and residential parcels of land for the West Corridor project, and in 2010 and 2011 Hegarty & Gerken prepared another 14 commercial, residential and industrial properties for the East Corridor project on behalf of RTD. Again, in 2011 and 2012 Hegarty and Gerken prepared another 14 reports for RTD's Gold Line which runs from Central Denver to the City of Arvada. These reports were mainly partial takings from improved industrial users and included the valuation of several outdoor advertising signs (billboards). Routt County Road 14 Improvement Project = In 2009, Routt County initiated a project to improve Routt County Road 14 near Steamboat Springs, Colorado, using Federal "stimulus" funding. In October, 2009, Hegarty & Gerken was engaged by Routt County to complete a Basic Data Report for Routt County to assist it in the acquisition of numerous properties for improvements to Routt County Road 14. By December 31, 2009, Hegarty & Gerken, Inc. completed appraisal reports for Routt County on over 35 large - lot residential and agricultural properties for the project. Prairie Waters Project — Once completed in 2011 the City of Aurora's Prairie Waters Project will increase the City's water supply by 20%; delivering up to 10,000 acre-feet of water per year. In 2006 Hegarty & Gerken, Inc. prepared a Basic Real Property Value Data Report for Aurora Water to assist the City in the acquisition of numerous properties for construction of the water delivery system. During 2007, 2008 and 2009 Hegarty & Gerken, Inc. completed appraisal reports for Aurora Water on 27 individual properties that did not qualify for "value findings." These properties included improved residential properties, agricultural properties, commercial development land, and operating gravel mines. Additional appraisal reports for the Prairie Waters projects have been completed have been on an "as needed" basis in 2011 and 2012. U.S. Highway 34 (Business) Improvement Project — In 2006 the State of Colorado Department of Transportation ("CDOT") began a project to widen Hegarty & Gerken, Inc. Real Estate Appraisers and Consultants 51 U.S. Highway 34 (Business) in Greeley, Colorado. During 2006 and 2007 Hegarty & Gerken completed appraisals for CDOT on 31 parcels of commercial, residential, and agricultural land for this project. In addition, Charles J. Hegarty & Gregory T. Gerken testified as expert witnesses, (at depositions and/or immediate possession hearings), on behalf of CDOT. Transportation Expansion Project (T-REX) — T-REX is a $1.67 billion multi - modal transportation expansion project for Denver's 1-25 and 1-225 highway corridors. The T-REX project officially began in May, 2001 when Southeast Corridor Constructors (SECC) was selected as the builder. Charles J. Hegarty & Gregory T. Gerken completed numerous appraisal assignments for RDT/CDOT in connection with the TREX project. In addition, both appraisers testified as expert witnesses, (at depositions and/or hearings), on behalf of RTD/CDOT for the T-REX project. Sheridan Redevelopment Agency — During 2006 and 2007 Hegarty & Gerken, Inc. prepared appraisal reports on fifteen commercial/light industrial properties that are located at the southwest quadrant of Santa Fe Drive and U.S. Highway 285 for the Sheridan Redevelopment Authority. The Sheridan Redevelopment Agency has selected Weingarten Miller Sheridan, LLC, an affiliate of Miller Weingarten Realty to redevelop the sites with a new retail power center. In addition to the projects listed above Hegarty & Gerken, Inc. has completed dozens of appraisal assignments for various governmental agencies involved in acquiring rights -of -way, including the E-470 Public Highway Authority, the Northwest Parkway, the City of Thornton, and the Colorado Department of Transportation. References who can attest to the firm's knowledge, quality of work, timeliness, diligence, flexibility, and ability to meet budget constraints are included in the Addenda at Attachment "A" QUALIFICATIONS OF KEY PERSONNEL The fundamental strengths of Hegarty & Gerken, Inc. are broad appraisal experience, high level educational backgrounds, and professionalism. Charles J. Hegarty, MAI, holds a Master of Business Administration (M.B.A.) degree from the Hegarty & Gerken, Inc. Real Estate Appraisers and Consultants 5 University of Denver and an undergraduate degree in accounting from Colorado State University located in Fort Collins, Colorado. Mr. Hegarty is a Colorado native, a Member of the Appraisal Institute (MAI) and is licensed as a Certified General Appraiser in the State of Colorado. Mr. Hegarty brings with him twenty six years of progressive experience in appraising real estate interests including valuations used in litigation, bankruptcy proceedings, casualty insurance settlements, lease negotiations, ad valorem tax disputes and eminent domain activities. In addition, he has testified as an expert witness concerning real estate valuations in numerous District Courts throughout Colorado, and in U.S. Bankruptcy Court. As a former Certified Public Accountant, Mr. Hegarty also has extensive experience in public accounting, financial consulting, auditing, and in the preparation of marketing and feasibility studies. Gregory T. Gerken, MAI, has a Master of Real Estate and Construction Management (M.R.E.C.M.) degree from the University of Denver. Mr. Gerken brings with him twenty one years of experience as a real estate appraiser and ten years of experience in professional sports, product marketing, and industrial plant management. Mr. Gerken is licensed as a Certified General Appraiser in the State of Colorado and is a member of the Appraisal Institute holding the MAI designation. Mr. Gerken also holds a Bachelor of Science (B.S.) degree from Northern Arizona State University in Industrial Management. Mr. Gerken has testified numerous times in various District Courts throughout Colorado. Mr. Gerken is also a Colorado native and he has spent most of his professional career in the Denver Metropolitan Area. For larger appraisal assignments Hegarty & Gerken, Inc. has established professional relationships with several independent contractors who have extensive experience in the appraisal of residential and commercial properties. These independent contractors are available on an "as needed" basis. Resumes for Mr. Hegarty and Mr. Gerken are included at Attachment "B" and a partial summary of expert witness testimony are included at Attachment "C" to this proposal. Hegarty & Gerken, Inc. Real Estate Appraisers and Consultants L Additional Proposal Responses: This proposal is valid for a period of not less than 90 days of receipt. The company representative responsible for coordinating with the City is Gregory T. Gerken, MAI. Course work taken by Mr. Gerken and Mr. Hegarty are all of the courses required to obtain the MAI designation through the Appraisal Institute. In addition, continuing education courses are taken to maintain the MAI designations and to meet licensing requirements with the State of Colorado. This includes the current USPAP courses. In addition, the appraisers attend the yearly Eminent Domain Conference presented in Denver, and both appraisers have been presenters at this seminar. See Attachments "B" and "C" for summary of expert testimony and State Districts Courts where Mr. Gerken and Mr. Hegarty have testified as expert witnesses. The estimated time to complete each appraisal assignment depends on our work load at the time of the appraisal assignment and the complexity of the appraisal. Typically, appraisal assignments are completed between six and eight weeks. We do not have cost breakouts on a per appraisal basis for a partial take or total basis. Each potential appraisal assignment is preliminary investigated and a budget for that appraisal is estimated. Factors considered for each assignment include, location of the property, is it a partial or full take, are their potential damages/benefits caused by the project, do the improvements have to be appraised or is it a land only appraisal, what is the current use of the property, what is the highest and best use of the property, etc. In addition, the cost of the appraisal project is determined by additional factors including if the assignment involves multiple properties that are similar or are they dissimilar, does the assignment require other specialty reports such as, replacement sign cost estimates, land planners, engineers, etc. Typical cost for a single eminent domain appraisal ranges from $6,000 to $15,000 depending on the complexity of the assignment. See Attachment D for the Proposal Cost Sheet. The hourly rate stated on the proposal sheet includes all costs. Hegarty & Gerken, Inc. Real Estate Appraisers and Consultants NA ATTACHMENT "A" PROFESSIONAL REFERENCES FOR HEGARTY & GERKEN, INC. 1. Donald M. Ostrander, Attorney at Law Robert R. Duncan, Attorney at Law Duncan, Ostrander & Dingess, P.C. 3600 S. Yosemite Street, Suite 500 Denver, CO 80237 Phone: 303-779-0200 E-mail: dostrander(o)dodpc.com, rduncan dodpc.com (For T-REX, Sheridan Redevelopment, RTD FasTracks, and Numerous other assignments) 2. Joani Cravens, Manager Real Property Services City of Aurora 15151 East Alameda Parkway Aurora, CO 80012 Phone: 303-739-7325 E-mail: 0cravens auroragov.org (For Numerous Assignments) 3. John D. Merrill, Routt County Attorney Routt County 522 Lincoln Avenue Steamboat Springs, CO 80477 Phone: 970-870-5317 E-mail: jmerrill(cDco.routt.co.us (For Routt County Road 14 Assignments) 4. Bob L. Grube, Region 4 Right of Way Manager CDOT, Region 4 1420 Second Street Greeley, CO 80631 Phone: 970-350-2152 (For US Highway 34 (Business) Assignments) 5. Ms. Hillary Merritt, Project Manager Trust for Public Lands 1410 Grant Street, D210 Denver, Colorado 80203 Phone 303-837-1414 ext. 302 E-Mail Hillary.merritt(a)tpl.org (Numerous Assignments) ATTACHMENT "B" RESUMES: CHARLES J. HEGARTY and GREGORY T. GERKEN NegaHy & Gerken, Inc. Real Estate Appraisers and Consultants