Item F03130ARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: November 17, 2010 Division: Employee Services
Bulk Item: Yes X No Department: Risk Management
Staff Contact Person/Phone#:Maria L. Slavik X3178
AGENDA ITEM WORDING: Approval to accept proposal from Asset Works Appraisal for Real and
Personal Property.
ITEM BACKGROUND: The last appraisal was performed by Marshall & Stevens Incorporated on
September 23, 2005. Provide appraisal of for establishing the values to be insured under its Property
insurance program.
PREVIOUS REVELANT BOCC ACTION: The County received six (6) proposals in response to
the RFP for Property Appraisals. Based on a review of each proposal, it appears as if each firm
submitting a proposal have the technical expertise and experience to serve the needs of the County.
Based on the ability of the firms to provide comparable services, the evaluation shifted to the price.
The proposals ranged from a low of $8,360 to a high of $96,000. There was no apparent reason for the
spread in fees.
CONTRACT/AGREEMENT CHANGES: None
STAFF RECOMMENDATIONS: Approval the proposal from Asset Works Appraisal in the amount
of $8,360. Based on our past experience with property appraisals, it is also recommended that the Board
approve an additional $2,000 to be used at the discretion of the Risk Administrator to cover the cost of
unforeseeable issues that that may arise during the appraisal.
TOTAL COST: $10,360 INDIRECT COST: BUDGETED: Yes X No
COST TO COUNTY: $10,360 SOURCE OF FUNDS: Ad Valorem
REVENUE PRODUCING: Yes No X AMOUNT PER MONTH Year _
APPROVED BY: County Att y ��,G`�" Purchasing Risk Management411/
DOCUMENTATION: Included X To Follow Not Required
DISPOSITION: AGENDA ITEM #
Revised 2/27/01
MONROE COUNTY BOARD OF COUNTY COMMISSIONERS
CONTRACT SUMMARY
Contract with: Asset Works Appraisal
Contract #
Effective Date: 12/01/2010
Expiration Date:
Contract Purpose/Description:
Appraisal of Real and Personal Property
Contract Manager: Maria Slavik
3178 Risk Management #7
(Name)
(Ext.) (Department/Stop #)
for BOCC meeting on 11/17/10
Agenda Deadline: 11-2-10
CONTRACT COSTS
Total Dollar Value of Contract: $ $10,360 Current Year Portion: $
Budgeted? Yes® No ❑ Account Codes: 503-08502-530-450-
Grant: $
County Match: $ - -
ADDITIONAL COSTS
Estimated Ongoing Costs: $ /yr For:
(Not included in dollar value above) (eg. maintenance,
ities, janitorial, salaries, etc.
CONTRACT REVIEW
Changes
Date Out
Division Director
Date In
10
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Needed %%� Reviewer
, YesYes[:]NoEll _,
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Risk Manage nt
9e
YYes[:]No�
O.M.B./Purchasing
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Yes[:] N&
County Attorney
Yes[:] Noff/
Comments:
umn torm Kevlsea CIl //u 1 ml r 42
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UNTYMON ROE
KEY WEST FLORIDA 33040
(305)294-4641
Office of the Employee Services Division Director
The Historic Gato Cigar Factory
1100 Simonton Street, Suite 268
Key West, FL 330tO k
(:305) 292-4458 — Phone
(30:5) 2924564 - Fax iy
�,
TO: Board of County Commissioners
FROM: Teresa E. Aguiar,
Employee Services Directo
DATE: October 28, 2010
SUBJ: Award Bid to Asset Works for Appraisal of Property
BOARD OF COUNTY COMMISSIONERS
Mayor Sylvia J. Murphy, District 5
Mayor Pro Tem Heather Carruthers, District 3
Kim Wigington, District 1
George Neugent, District 2
Mario Di Gennaro, District 4
This item requests approval to accept the bid proposal from Asset Works Appraisal in the amount of
$8,360. The last appraisal was performed by Marshall & Stevens Incorporated on September 23, 2005.
We will use the information obtained from the appraisal for establishing values to be insured under our
Property insurance program. To ensure the County is purchasing proper limits on its Property Insurance,
appraisals must be performed periodically.
Six proposals were received and Asset Works was the lowest bidder at $8,360. If during the appraisal we
learn of a structure that was not included (for whatever reason) on the original schedule, Asset Works will
charge the County an additional $135 to appraise each additional property. This is why it is also
recommended that the Board approve an additional $2,000 to make the total request $10,360. Once the
initial appraisal is done, Asset Works also proposed a fee of $995 to provide annual updates to its
appraisal if requested by the County.
If after the initial appraisal, the County wanted Asset Works to appraise additional structures, they would
charge a minimum fee of $2,700 to appraise one (1) additional structure and $135 for each additional
structure. However, it is not expected that this scenario would come into play.
It is therefore recommended that the BOCC approve this Agenda Item in the amount of $10,360. If you
have any questions, please do not hesitate to contact me.
INTERISK CORPORATION
Consultants
Risk Management
Employee Benefits
October 6, 2010
Ms. Maria Slavik
Risk Manager
Monroe County
1100 Simonton Street
Suite 2-268
Key West, Florida 33040
Subject: Evaluation of Property Appraisal Proposals
Dear Maria:
I I I I North Westshore Boulevard
Suite 208
Tampa, FL 33607-4711
Phone (813) 287-1040
Facsimile (813) 287-1041
The County received six (6) proposals in response to its RFP for Property Appraisals. Based on a detail
review of each proposal, it appears as if each firm submitting a proposal have the technical expertise and
experience to serve the needs of the County. Since it was believed that all of the firths would provide
comparable services, the focus of the evaluation shifted to price. The proposed initial fees ranged from a
low of $8,360 to a high of $96,000. There was no apparent reason for the wide spread of the fees.
Asset Works Appraisal proposed the $8,360 fee. Asset Works used to he known as Maximus Appraisal
Services. Asset Works has provided appraisal services for a number of governmental entities in Florida.
They have an exclusive arrangement with the Preferred Governmental Insurance Trust (PGIT) to appraise
the properties of its members. PGIT is recognized as one of the leading self insured trusts for governmental
entities in Florida.
PGIT was contacted who advised that they were extremely pleased with Asset Works' services. In
addition, Asset Works provided references from:
Y The City of Key West
➢ Charlotte County
➢ The City of Sunrise, Florida
Each of these entities were also contacted by telephone and they all expressed complete satisfaction with
Asset Works services. Without exception, they advised that their services met or exceeded their
expectations and were performed in a timely fashion.
Based on the review of the proposals and the conversations with Asset Works' references, it is
recommended that Monroe County select Asset Works to perform the appraisal of its properties. Based on
our past experience with property appraisals, 4 is also recommended that the Board approve an additional
$2,000 to be used at your discretion to cover the cost of unforeseeable issues that may arise during the
appraisal. This will bring the total projected cost of the appraisal to S 10,360.
Asset Works also proposed a flat fee of $995 to provide annual updates to its appraisal. This was also
considerably less than the fees proposed by the other proposers. If the County needs additional appraisals
of buildings in the future, Asset Works has proposed a fee of 5135 per building (subject to a minimum fee
of $2,700.
As always, please do not hesitate to call if you have any questions.
Cordially,
INTERISK CORPORATION
Sidney G. Webber
CPCU, ARM
MONROE COUNTY
EVALUATION OF PROPOSALS
FOR
PROPERTY APPRAISAL
RFP RSK 27194 2010PUR/CV
October 1, 2010
All Keys Appraisal
Proposed Fee $38,350
Proposed Update Fee $19,500
No sample reports provided
Proposal indicates that buildings will be appraised based on "Depreciated Value".
Since the County's Property Insurance is provided on a "Replacement Cost" basis,
buildings should be appraised on a Replacement Cost basis.
Local Firm
Only provided professional designations for one person (Mark Maclanghein).
Appears to be a small firm.
Did not provide any information regarding past experience
Did not provide samples of reports that would be issued.
Provided evidence of satisfactory insurance
Did not provide any references
W"ill bill based on percentage of completion
Did not provide references
Specialty Property Appraisals LLC
Proposed Fee $12,300
Proposed Update Fee $950
The Tabulation Sheet reflects this company as American Society of Appraisers. It
should read Specialty Property Appraisals LLC.
Formed in May 2006
Principal used to be President of Valuation Resource Management that was sold to
Maximus in 2000.
Provided services for at least 5 other governmental entities.
Indicated that they will meet with the County prior to the field work to develop an
understanding of the County's expectations.
Appears as if individuals that will perform the services are highly qualified.
Provided references
Provided a well structured Project approach
Indicated that entire project can be completed in 8 weeks.
Would recommend that providing a draft report be included in Project Report
Provided sample reports. Reports appear to be well structured and incorporate all
necessary information.
Will provide an Excel report containing critical data.
Proposal was well structured to include all requested information.
Calls should be made to references to verify level of services provided.
Can meet insurance requirements.
Industrial Appraisal Company
Proposed Fee $12,490
Proposed Update Fee $690 if updates are performed annually
$995 if updates are performed biennially
It appears as if entire project will be coordinated from Pittsburg Pennsylvania
Proposal does not indicate who will actually do the work nor their professional
qualifications
Proposal does not provide any professional designations of Industrial Appraisal's
Management team.
While proposal indicates that contents will be included with their appraisal, they
keep referring to contents as Machinery & Equipment. In only one place
(proposal forms) do they suggest that office furniture will be considered as
contents.
Proposed fee only includes one hard copy of their report and a copy of their
report in ACE II which is an exclusive Advance Content Excel Spreadsheet.
Being that this is an exclusive program, it is not known if a standard Excel
program will be able to access it.
No sample of Industrial zkppraisal's report was provided.
Proposal did not indicate any work ever being performed in Florida.
'Fhe method that they would use to establish the value of the County's buildings
was not clearly explained.
60% of the fee would be owed when the fieldwork is completed and the balance
would be due when the complete their report. All fees must be paid before the
report is released.
Submitted their own contract. Will need to confirm how consistent their contract
is compared to the County's contract.
American Appraisal Associates, Inc.
Proposed Fee $25,500
Proposed Update Fee $2,500
Extensive prior experience was presented as part of their proposal
A well structured approach to the project was presented.
No sample reports were provided.
AAA would maintain details of the appraisal that would not normally be included
in a formal report (such as plot plans and building footprints) that would be
accessible via the internet.
It appears as if all of the individuals that would be assigned to the County's
account have extensive appraisal experience, however, no details on their
professional designations was provided.
While it appears as if a firm fixed price was provided, on page 8 of their proposal it
suggests that the fee is an estimate and on page 9 it indicates that any increase in
the engagement scope or services will result in additional fees.
A sample contract was included in their proposal. It will have to be reviewed by
Legal and compared to the County's contract for any variations.
Appears to have provided services for a number of governmental entities some of
whom are located in Florida.
Can complete the project within 60 days from receiving notification to proceed.
Progress billings will be issued based on time and expenses incurred.
Callaway & Price, Inc.
Proposed Fee $96,000
Proposed Update Fee S20,000
Services will be provided from Callaway's West Palm Beach Office
Appears to have extensive governmental entities with 24 different Florida
governmental entities listed as prior experience.
The Project 1lpproach presented in Callaway's did not indicate that they will have a
pre -inspection meeting to ensure they fully understand the County's needs and
desire.
The individuals that would be assigned to the County's project appear to be highly
qualified.
Proposal contained impressive bio graphical summaries for 10 different
individuals, however according to their proposal; only 3 will be assigned to the
County's project.
The County will be billed at the end of the project.
The County's contract contained in the RFP will be acceptable to Callaway.
There were no sample reports contained in Callaway's proposal. Nor did they
specify what information would be contained in their report. The only significant
reference to their report was contained in Section S of their proposal which stated
New appraisals will be provided in Summary format.
AssetWorks Apprasial
Proposed Fee $$8,360
Proposed Update Fee S995
AssetWorks was previously known as Maximus
Presented a well thought out approach for conducting the County's appraisal
Recently performed an appraisals for City of Key West, Charlotte County, and City
of Sunrise
Can complete project within 60 days.
Upon delivery of draft report, Monroe County will have two weeks to review it
and offer suggested changes. This establishes a time frame that the County must
comply with.
Provided sample reports that were well structured and contains the information
needed by the County.
Project will be managed from AssetWorks' Pittsburgh, Penn. Office.
Only provided biographical summaries for the Project Nlanager and the Data and
Report Technician.
Proposal clearly states that proposed fees include all out of pocket expenses.
Proposed fee anticipates that a total of 88 buildings will be appraised.
Offered online access to the County's building data utilizing asset Nlax_ The cost
of Asset Max will be $1,500 per year, however the proposed fee includes one free
subscription to Asset Max.
Limits of liability for any claim not covered by Asset Max's insurance will be the
project fee ($8,360).
Limits of liability for claims covered by Asset Nlax's insurance will be the amount
of Liability limits required by the County.
MONROE COUNTY
EVALUATION OF PROPOSALS
FOR
PROPERTY APPRAISAL
RFP RSK 27194 2010PUR/CV
October 1, 2010
INITIAL RANKING
1. Asset Works Appraisal
2. Specialty Property Appraisals (American Society of Appraisers)
3, Industrial Appraisal Company
4. American Appraisal
5. All Keys Appraisal
G. Callaway & Price