HomeMy WebLinkAboutC-2146 - Appraisal of Beacon Bay lotsCITY OF NEWPORT BEACH
CALIFORNIA
City flail
7700 W. Newport Blvd.
Area Code 714
DATE May 21, 1980
TO: FINANCE DIRECTOR
FROM: City Clerk
SUBJECT: Contract No. C -2146
Description of Contract Appraisal of Beacon Bay Ipfs
Authorized by Resolution No. 9/17 , adopted on January 7, 1980
Effective date of Contract January 7, 1980
Contract with George Hamilton Jones
Address 717 Lido Park Dr
Newport Beach, CA 92663
Amount of Contract $22,500 (not to be exceeded)
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City Clerk
r
GEORGE HAMILTON JONES, M.A.I.
APPRAISAL CONSULTANT
OFFICE TELEPHONE
]I] LIDO PARR DRIVE
0141 673 -6 733
SEWPORT BEACH, CALIFORNIA 92603
Mr. Robert L. Wynn
City Manager
City of Newport Beach
3300 Newport Boulevard
Newport Beach, California
Dear Mr. Wynn:
December 6, 1979
MEMBER
REAL
OF
B the, CITY COUNCIL i
Y ^ ;T 46ACH
't{# �r�.c{y. � rry
92663 Re: Estimated Appraisal Fee -
Beacon Bay
In accordance with your recent request, I have reviewed the physical
characteristics of the subject property, various documents including the ex-
isting and proposed Beacon Bay lease, C. C. and R.'s, "Instruction to Ap-
praisers" (dated October 25, 1979), and have studied the scope of workand fee
required in order to form a supportable opinion of the fair market rental value
of the 73 individual lots within Beacon Bay.
The date of value will be January 1 , 1980.
The study shall also include analysis of factors pertinent to the render-
ing of an opinion of the rental advantage which the present lessees have un-
der the existing lease.
Due to the complex nature of the problem, and the uncertainty of time re-
quired for certain elements of the appraisement, it would be my recommenda-
tion that this fee be set on the basis of a per diem arrangement with a "not to
exceedupper limit ". As a result of my investigation, it is my opinion that said
fee shall not exceed $22,500. The basis of fee payment would be in accordance
with our established per diem rate. Said rate is on the basis of the following:
George H. Jones, M. A. I.: $75 /hour
Gary L. Vogt, M. A. I.: $50 /hour
William R. Hansen: $45 /hour
A detailed report of hours spent by each individual would be submitted to
you with the billing on a monthly basis, if this is acceptable to you.
x,^aga rw
r
DEC101979►
City Manager
City of :'kW;mlt Beach
B the, CITY COUNCIL i
Y ^ ;T 46ACH
't{# �r�.c{y. � rry
92663 Re: Estimated Appraisal Fee -
Beacon Bay
In accordance with your recent request, I have reviewed the physical
characteristics of the subject property, various documents including the ex-
isting and proposed Beacon Bay lease, C. C. and R.'s, "Instruction to Ap-
praisers" (dated October 25, 1979), and have studied the scope of workand fee
required in order to form a supportable opinion of the fair market rental value
of the 73 individual lots within Beacon Bay.
The date of value will be January 1 , 1980.
The study shall also include analysis of factors pertinent to the render-
ing of an opinion of the rental advantage which the present lessees have un-
der the existing lease.
Due to the complex nature of the problem, and the uncertainty of time re-
quired for certain elements of the appraisement, it would be my recommenda-
tion that this fee be set on the basis of a per diem arrangement with a "not to
exceedupper limit ". As a result of my investigation, it is my opinion that said
fee shall not exceed $22,500. The basis of fee payment would be in accordance
with our established per diem rate. Said rate is on the basis of the following:
George H. Jones, M. A. I.: $75 /hour
Gary L. Vogt, M. A. I.: $50 /hour
William R. Hansen: $45 /hour
A detailed report of hours spent by each individual would be submitted to
you with the billing on a monthly basis, if this is acceptable to you.
Mr. Robert L. Wynn
December 6, 1979
Page 2
I have further estimated that the assignment should require from three to
four months to complete.
If authorization to do this work was received by January 1, 1980, the re-
port could be submitted to you on or before May 1, 1980.
The appraisal would be prepared in accordance with the Standards of Prac-
tice of the American Institute of Real Estate Appraisers, of which Mr. Vogt and
I are members. Ten copies of the report shall be submitted.
If this office is retained to do such work, I respectfully request that ar-
rangements be made with the appropriate members of the Beacon Bay Associa-
tion so that full access to all properties can be obtained, and we may be able
to consider any factors they feel are pertinent to the valuation.
We appreciate your considering our office for this challenging assignment.
If there are any questions relating to this matter, please let me know.
GHJ /jjr
Respectfully submitted,
OFFICE TELEPHONE
17141 673 -6733
• 0
GEORGE HAMILTON ,JONES, M.A.L.
APPRAISAL CONSULTANT
717 LIDO PARK DRIVE
NEWPORT BEACH, CALIFORNIA 02663
Mr. Robert L. Wynn
City Manager
City of Newport Beach
3300 Newport Boulevard
Newport Beach, California
Dear Mr. Wynn:
December 6, 1979
aici>i Jc;4 a_J
REAL
MEMBER
OF
DEC 10 1979
City Manager
City of tJaw;.at Beach [
3$
92663 Re: Estimated Appraisal Fee
Beacon Bay
In accordance with your recent request, I have reviewed the physical
characteristics of the subject property, various documents including the ex-
isting and proposed Beacon Bay lease, C. C. and R.'s, "Instruction to Ap-
praisers" (dated October 25, 1979), and have studied the scope of work and fee
required in order to form a supportable opinion of the fair market rental value
of the 73 individual lots within Beacon Bay.
The date of value will be January 1, 1980.
The study shall also include analysis of factors pertinent to the render-
ing of an opinion of the rental advantage which the present lessees have un-
der the existing lease.
Due to the complex nature of the problem, and the uncertainty of time re-
quired for certain elements of the appraisement, it would be my recommenda-
tion that this fee be set on the basis of a per diem arrangement with a "not to
exceed upper limit ". As a result of my investigation, it is my opinion that said
fee shall not exceed $22 , 500. The basis of fee payment would be in accordance
with our established per diem rate. Said rate is on the basis of the following:
George H. Jones, M. A. I.: $75 /hour
Gary L. Vogt, M. A. I.: $50 /hour
William R. Hansen: $45 /hour
A detailed report of hours spent by each individual would be submitted to
you with the billing on a monthly basis, if this is acceptable to you.
Mr. Robert L. Wynn
December 6, 1979
Page 2
I have further estimated that the assignment should require from three to
four months to complete.
If authorization to do this work was received by January 1, 1980, the re-
port could be submitted to you on or before May 1, 1980.
The appraisal would be prepared in accordance with the Standards of Prac-
tice of the.American Institute of Real Estate Appraisers, of which Mr. Vogt and
I are members. Ten copies of the report shall be submitted.
If this office is retained to do such work, I respectfully request that ar-
rangements be made with the appropriate members of the Beacon Bay Associa-
tion so that full access to all properties can be obtained, and we may be able
to consider any factors they feel are pertinent to the valuation.
We appreciate your considering our office for this challenging assignment.
If there are any questions relating to this matter, please let me know.
GHJ /jjr
Respectfully submitted,
rl nn
BY the CITY COUNCIL
CITY Qr� NSWPQRT R&ACH
RESOLUTION NO.
0-
/W D /<,/
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING THE MAYOR TO
EXECUTE A LETTER OF AGREEMENT WITH GEORGE
HAMILTON JONES FOR THE APPRAISAL OF BEACON
BAY LOTS
WHEREAS, the City of Newport Beach on January 9,
1950, entered into a Lease Agreement with J. A. Beek, et al.,
for the residential area of Beacon Bay; and
WHEREAS, the City of Newport Beach proposes to
enter into new Lease Agreements in regard to the residential
area of Beacon Bay; and
WHEREAS, prior to entering into such leases, the
fair market value of said area must be determined by an
appraisal; and
WHEREAS, George Hamilton Jones, M.A.I., has
submitted a proposal to appraise the residential lots in
Beacon Bay; and
WHEREAS, the City Council has considered said
proposal and found it to be fair, just and equitable,
NOW, THEREFORE, BE IT RESOLVED that the City Council
of the City of Newport Beach authorizes and directs the Mayor
to execute a letter of agreement between the City of Newport
Beach and George Hamilton Jones, M.A.I., for appraisal of
the residential lots in Beacon Bay, subject to the terms and
conditions of the proposal submitted to the City of Newport
Beach by George Hamilton Jones, M.A.I., dated December 6
1979.
ADOPTED this 7th
ATTEST:
City Clerk
day of January , 1980.
Mayor
HRC /kv
12/28/79
January 8, 1980
CITY OF NEWPORT BEACH
Mr. George Hamilton Jones, M.A.I.
Appraisal Consultant
717 Lido Park Drive
Newport Beach, California 92663
Dear Mr. Jones:
The City Council, on January 7th, appropriated $22,500
and approved your letter proposal for the appraisal of
the Beacon Bay property. This letter serves as an autho-
rization for you to commence subject appraisal.
cerely,
ROBERT L. WYNN
City Manager
City Hall • 3300 Newport Boulevard, Newport Beach, California 92663
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�7� The Articles covered by this Purchase Order or Contract, rn ust
CITY OF. NEWPORT BEACH
— conform to applicable Cal-OSHA Standards, and/or: other
appropriate laws, regulations, rules, and codes of the Federal
i'
Government and the State of Californi a
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Show as a separate item any retail sales tax,.vse,tax or Fade,a
tax applicable to this purchase.
D W. MEANS
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-Th'T order subject toCalifornia sales La
PURCHASING AGENT
Alf allowable transportat;on charges must be prepaid and shown
as 'a separate, item on the invoice. Do not include Federal trans
portation tax.
a N
RESOLUTION NO. 9 717
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING THE MAYOR TO
EXECUTE A LETTER OF AGREEMENT WITH GEORGE
HAMILTON JONES FOR THE APPRAISAL OF BEACON
BAY LOTS
WHEREAS, the City of Newport Beach on January 9,
1950, entered into a Lease Agreement with J. A. Beek, et al.,
for the residential area of Beacon Bay; and
WHEREAS, the City of Newport Beach proposes to
enter into new Lease Agreements in regard to the residential
area of Beacon Bay; and
WHEREAS, prior to entering into such leases, the
fair market value of said area must be determined by an
appraisal; and
WHEREAS, George Hamilton Jones, M.A.I., has
submitted a proposal to appraise the residential lots in
Beacon Bay; and
WHEREAS, the City Council has considered said
proposal and found it to be fair, just and equitable,
NOW, THEREFORE, BE IT RESOLVED that the City Council
of the City of Newport Beach authorizes and directs the Mayor
to execute a letter of agreement between the City of Newport
Beach and George Hamilton Jones, M.A.I., for appraisal of
the residential lots in Beacon Bay, subject to the terms and
conditions of the proposal submitted to the City of Newport
Beach by George Hamilton Jones, M.A.I., dated December 6
1979.
ADOPTED this 7th
ATTEST:
City Clerk
day of January , 1980.
Mayor
HRC /kv
12/28/79