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Bruce W. Hull & Associates - 2000-04-17
CITY OF HUNTINGTON BEACH 2000 MAIN STREET CALIFORNIA 92648 OFFICE OF THE CITY CLERK CONNIE BROCKWAY CITY CLERK LETTER OF TRANSMITTAL OF ITEM APPROVED BY THE CITY COUNCIL/ REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH DATE: i L / 9 000 TO: ', U&ce. /zj O' ASso. ATTENTION: , ! jOacd uJ. Name /05'6 via . , Sam .TD.Z� DEPARTMENT: Street l/e� e_ao-el REGARDING: 4, 2,4 jo Z!.0�/A/PLC City, State, Zip See Attached Action Agenda Item 'Date of Approval Enclosed For Your Records Is An Executed Copy Of The Above Referenced Agenda Item. Remarks: Connie Brockway City Clerk Attachments: Action Agenda Page Agreement ✓ Bonds Insurance ✓ RCA Deed Other CC: payzw E�� Jae!/. t. ✓ y Name J.,f Department RCA Ageement Insurance Other C� J7eu . Loll ✓ �� Nfime Department RCA Agreement Insurance Other Name Department RCA Agreement Insurance Other Name Department Risk Management Dept. RCA Agreement Insurance Other Insurance &Followup/L.etters/coverltr ( Telephone: 714-536-5227 ) Council/Agency Meeting Held: 4 —11 — 00 Deferred/Continued to: Appro ed - ❑ Conditionally proved ❑ Denied PW City 's Signature Council Meeting Date: April 17, 2000 Department ID Number: ED 00-05 CITY OF HUNTINGTON BEACH REQUEST FOR COUNCIL ACTION - SUBMITTED TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS SUBMITTED BY: RAY SILVER, City Administratord'A-� PREPARED BY: DAVID C. BIGGS, Director of Economic Development v SUBJECT: Approval of Contract for Appraisal Services: Bruce W. Hull & Associates for Hilton Grand Coast Resort �- Statement of Issue, Funding Source, Recommended Action, Alternative Action(s), Analysis, Environmental Status, Attachment(s) Statement of Issue: As part of the formation of Community Facilities District No. 2000-1 (Hilton Grand Coast Resort) it is necessary to have an independent opinion of value of the privately owned improvements within the district. Staff recommends the attached contract for appraisal services. Funding Source: Developer Advance (costs will be reimbursed from bond proceeds) Recommended Action: MOTION TO: Approve the attached contract between the city and Bruce W. Hull & Associates for real estate appraisal services in connection with the formation of Community Facilities District No. 2000-1 (Hilton Grand Coast Resort) for an amount not to exceed $76,000. Alternative Action(s): Do not approve the contract. Analysis: One of the steps in the formation of a community facilities district pursuant to the provisions of the "Mello -Roos Community Facilities Act of 1982" is to determine the tax rate to be applied within the district. The services of an independent real estate appraiser are commonly used to establish the value of private improvements that will be constructed within the district. The value, when multiplied by the tax rate, will result in the total taxes paid from the district and this figure can be compared to the debt service on the bonds. This test will assure that the proposed rate will generate revenues adequate to meet debt service on the district's bonds. The appraiser's work is also disclosed in the Official Statement of the bond issue as an independent judgement of the financial viability of the proposed transaction. E-.!5 REQUEST FOR COUNCIL ACTIN MEETING DATE: April 17, 2000 DEPARTMENT ID NUMBER: ED 00-05 Staff solicited proposals from three firms familiar with the requirements for this type of appraisal. The Bruce W. Hull consultant firm was selected because of its previous experience most closely met the requirements of this assignment and because its fee was comparable to that quoted by the other firms. City staff, bond counsel and the investment banker all participated in the review and selection process. The original proposal was for an amount not to exceed $76,000. Subsequently, the .Department of Housing and Urban Development (HUD) has required the appraisal of the fee simple interest. Staff has had to amend the contract to reflect the added cost of preparing basically two appraisals. One of the appraisals is for the formation of the CFD and the other to meet HUD's security interest of the Section 108 Loan. Costs of the appraisal will be limited to the actual costs incurred by the appraiser in the preparation of the necessary documents. Conceivably, appraisal costs could come under the not to exceed figure of $76,000. Environmental Status: NA Attachment(sl: RCA Author: Duran @ X1529 AppraiserRCA -2- 03/06/00 3:18 PM LI CJ Professional Services Contract between the City and Bruce W. Hull & Associates PROFESSIONAL SERVICES CONTRACT BETWEEN THE CITY OF HUNTINGTON BEACH AND BRUCE W. HULL & ASSOCIATES,INC. FOR APPRAISAL SERVICES Table of Contents 1 Work Statement.......................................................................................................1 2 City Staff Assistance................................................................................................2 3 Time of Performance...............................................................................................2 4 Compensation..........................................................................................................2 5 Priorities........................................................................................2 6 Extra Work...............................................................................................................2 7 Method of Payment..................................................................................................3 8 Disposition of Plans, Estimates and Other Documents...........................................4 9 Hold Harmless.........................................................................................................5 10 Workers' Compensation Insurance...........................................................................5 11 General Liability Insurance......................................................................................6 12 Professional Liability Insurance..............................................................................6 13 Certificates of Insurance..........................................................................................7 14 Independent Contractor............................................................................................8 15 Termination of Agreement.......................................................................................8 16 Assignment and Subcontracting...............................................................................9 17 Copyrights/Patents...................................................................................................9 18 City Employees and Officials..................................................................................9 19 Notices.....................................................................................................................9 20 Immigration..............................................................................................................10 21 Legal Services Subcontracting Prohibited...............................................................10 22 Attorney's Fees ..................................................... :.................................................... 10 23 Entirety.....................................................................................................................10 12 g:4:2000agree:Hull RLS 00-038 1-19-2000 PROFESSIONAL SERVICES CONTRACT BETWEEN THE CITY OF HUNTINGTON BEACH AND BRUCE W. HULL & ASSOCIATES,INC. FOR APPRAISAL SERVICES THIS AGREEMENT is made and entered into this 17th day of A=ri 1 2000, by and between the City of Huntington Beach, a municipal corporation of the State of California, hereinafter referred to as "CITY," and Bruce W. Hull & Associates, Inc., a California corporation, hereinafter referred to as "CONSULTANT." WHEREAS, CITY desires to engage the services of a consultant to provide appraisal services; and Pursuant to documentation on file in the office of the City Clerk, the provisions of the Huntington Beach Municipal Code, Chapter 3.03, relating to procurement of professional service contracts have been complied with; and CONSULTANT has been selected to perform said services, NOW, THEREFORE, it is agreed by CITY and CONSULTANT as follows: WORK STATEMENT CONSULTANT shall provide all services as described in the CONSULTANT's Proposals dated December 14, 1999 and February 4, 2000 (hereinafter collectively referred to as Exhibit "A"), which is attached hereto and incorporated into this AGREEMENT by this reference. These services shall sometimes hereinafter be referred to as the "PROJECT." CONSULTANT hereby designates Bruce W. Hull who shall represent it and be its sole contact and agent in all consultations with CITY during the performance of this AGREEMENT. g:4:2000agree: Hull RLS 00-038 1-19-2000 • 0 2. CITY STAFF ASSISTANCE CITY shall assign a staff coordinator to work directly with CONSULTANT in the performance of this AGREEMENT. 3. TIME OF PERFORMANCE Time is of the essence of this AGREEMENT. The services of CONSULTANT are to commence as soon as practicable after the execution of this AGREEMENT and all tasks specified in Exhibit "A" shall be completed no later than six (6) months from the date of this AGREEMENT. These times may be extended with the written permission of CITY. The time for performance of the tasks identified in Exhibit "A" are generally to be shown in the Scope of Services on the Work Program/Project Schedule. This schedule may be amended to benefit the PROJECT if mutually agreed by CITY and CONSULTANT. 4. COMPENSATION In consideration of the performance of the services described herein, CITY agrees to pay CONSULTANT a fee not to exceed Seventy-six Thousand and no/100 Dollars ($76,000.00). 5. PRIORITIES In the event there are any conflicts or inconsistencies between this AGREEMENT, the CITY's RFP, or the CONSULTANT's Proposal, the following order of precedence shall govern: 1) AGREEMENT, 2) the CONSULTANT's Proposal, and 3) the CITY's RFP. 6. EXTRA WORK In the event CITY requires additional services not included in Exhibit "A," or changes in the scope of services described in Exhibit "A," CONSULTANT will undertake such 2 g:4:2000agree: Hull RLS 00-038 1-19-2000 • work only after receiving written authorization from CITY. Additional compensation for such extra work shall be allowed only if the prior written approval of CITY is obtained. 7. METHOD OF PAYMENT A. CONSULTANT shall be entitled to progress payments toward the fixed -fee set forth herein in accordance with the progress and payment schedules set forth in Exhibit "A." B. Delivery of work product: A copy of every memorandum, letter, report, calculation and other documentation prepared by CONSULTANT shall be submitted to CITY to demonstrate progress toward completion -of tasks. In the event CITY rejects or has comments on any such product, CITY shall identify specific requirements for satisfactory. completion. Any - such product which has not been formally accepted or rejected by CITY shall be deemed accepted. C. CONSULTANT shall submit to CITY an invoice for each progress payment due. Such invoice shall: 1) Reference this AGREEMENT; 2) Describe the services performed; 3) Show the total amount of the payment due; 4) Include a certification by a principal member of CONSULTANT's firm that the work has been performed in accordance with the provisions of this AGREEMENT; and 5) For all payments include an estimate of the percentage of work completed. 3 g:4:2000agree:Hull RLS 00-038 1-19-2000 • Upon submission of any such invoice, if. CITY is satisfied that CONSULTANT is making satisfactory progress toward completion of tasks in accordance with this AGREEMENT, CITY shall promptly approve the invoice, in which event payment shall be made within thirty (30) days of receipt of the invoice by CITY. Such approval shall not be unreasonably withheld. If CITY does not approve an invoice, CITY shall notify CONSULTANT in writing of the reasons for non -approval within seven (7) calendar days of receipt of the invoice, and the schedule of performance set forth in Exhibit "A" shall be suspended until the parties agree that past performance by CONSULTANT is in, or has been brought into compliance, or until this AGREEMENT is terminated as provided herein. D. Any billings for extra work or additional services authorized by CITY shall be invoiced separately to -CITY. Such invoice shall contain all of the information required above, and in addition shall list the hours .expended and hourly rate charged for such time.. Such invoices shall be approved by CITY if the work performed is in accordance with the extra work or additional services requested, and if CITY is satisfied that the statement of hours worked and costs incurred is accurate. Such approval shall not be unreasonably withheld. Any dispute between the parties concerning payment of such an invoice shall be treated as separate and apart from the ongoing performance of the remainder of this AGREEMENT. DISPOSITION OF PLANS, ESTIMATES AND OTHER DOCUMENTS CONSULTANT agrees that all materials prepared hereunder, including all original drawings, designs, reports, both field and office notices, calculations, maps, memoranda, letters and other documents, shall be turned over to CITY upon termination of this AGREEMENT or upon PROJECT completion, whichever shall occur first. In the event this AGREEMENT is terminated, said materials may be used by CITY in the completion of the 4 g:4:2000agree:Hull RLS 00-038 1-19-2000 PROJECT or as it otherwise sees fit. -Title to said materials shall pass to CITY upon payment of fees determined to be earned by CONSULTANT to the point of termination or completion of the PROJECT, whichever is applicable. CONSULTANT shall be entitled to retain copies of all data prepared hereunder. 9. HOLD HARMLESS CONSULTANT shall protect, defend, indemnify and save and hold harmless CITY, its officers, officials, and employees, and agents from and against, any. and all liability, loss, damage, expenses, costs (including without limitation, costs and fees of litigation of every nature) arising out of or in connection with CONSULTANT's performance of this AGREEMENT or its failure to comply with any of its obligations contained in this AGREEMENT by CONSULTANT, its .officers, agents or employees except such loss or damage which was caused by the sole negligence or willful misconduct of CITY. 10. WORKERS' COMPENSATION INSURANCE Pursuant to California Labor Code Section 1861, CONSULTANT acknowledges awareness of Section 3700 et seq. of said Code, which requires every employer to be insured against liability for workers' compensation; CONSULTANT covenants that it -will comply with such provisions prior to commencing performance of the work hereunder. CONSULTANT shall maintain workers' compensation insurance in an amount of not less than One Hundred Thousand Dollars ($100,000) bodily injury by accident, each occurrence, One Hundred Thousand Dollars ($100,000) bodily injury by disease, each employee, Two Hundred Fifty Thousand Dollars ($250,000) bodily injury by disease, policy limit. CONSULTANT shall require all subcontractors to provide such workers' compensation insurance for all of the subcontractors' employees. CONSULTANT shall furnish g:4:2000agree:Hull RLS 00-038 1-19-2000 0 • to CITY a certificate of waiver of subrogation under the terms of the workers' compensation insurance and CONSULTANT shall similarly require all subcontractors to waive subrogation. 11. GENERAL LIABILITY. INSURANCE In addition to the workers' compensation insurance and CONSULTANT's covenant to indemnify CITY, CONSULTANT shall obtain and furnish to CITY, a policy of general public liability insurance, including motor vehicle coverage covering the PROJECT. - Said policy shall indemnify CONSULTANT, its officers,, agents and employees, while acting within the scope of their duties, against any and all claims arising out of or in connection with the PROJECT, and shall provide coverage -in not less than the following amount: combined single limit bodily injury and property -damage, including products/completed operations liability and blanket contractual liability, of $1,000,000 per occurrence. If coverage is provided under a form which includes a designated general aggregate limit, the aggregate limit must be no less than $1,000,000 for this PROJECT. Said policy shall name CITY, its agents, its officers, employees and volunteers as Additional Insureds, and shall specifically provide that any other insurance coverage which may be applicable to the PROJECT shall be deemed excess coverage and that CONSULTANT's insurance shall be primary. Under no circumstances shall the above -mentioned insurance contain a self - insured retention, or a "deductible" or any other similar form of limitation on the required coverage. 12. PROFESSIONAL LIABILITY INSURANCE CONSULTANT shall furnish a professional liability insurance policy covering the work performed by it hereunder. Said policy shall provide coverage for CONSULTANT's 6 g:4:2000agree:Hull RLS 00-038 1-19-2000 LJ professional liability in an amount not less than $1,000,000 per occurrence and in the aggregate. A claims -made policy shall be acceptable if the policy further provides that: A. The policy retroactive date coincides with or precedes the professional services- contractor's start of work (including subsequent policies purchased as renewals or replacements). B. CONSULTANT will make every effort to maintain similar�insurance during the required extended period of coverage following project completion, including the requirement of adding all additional insureds. C. If insurance is terminated for any reason, CONSULTANT agrees to purchase an extended reporting provision of at least two (2) years to report claims arising from work performed in connection with this AGREEMENT. D. The reporting of circumstances or incidents that might give rise to future claims. 13. CERTIFICATES OF INSURANCE Prior to commencing performance of the work hereunder, CONSULTANT shall furnish to CITY certificates of insurance subject to approval of the City Attorney evidencing the foregoing insurance coverages as required by this AGREEMENT; said certificates shall: A. provide the name and policy number of each carrier and policy; B. shall state that the policy is currently in force; and C. shall promise that such policies shall not be suspended, voided or canceled by either party, reduced in coverage or in limits except after thirty (30) 7 g:4:2000agree:Hull RLS 00-038 1-19-2000 • days prior written notice; however, ten (10) days prior written notice in the event of cancellation for nonpayment of premium. CONSULTANT shall maintain the foregoing insurance coverages in force until the work under this AGREEMENT is fully completed and accepted by CITY The requirement for carrying the foregoing insurance coverages shall not derogate from the provisions for indemnification of CITY by CONSULTANT under the AGREEMENT. CITY or its representative shall at all times have the right to demand the original or a copy of all said policies of insurance. CONSULTANT shall pay, in a prompt and timely manner, the premiums on all insurance hereinabove required. 14. INDEPENDENT CONTRACTOR CONSULTANT is, and shall be, acting at all times in the performance of this AGREEMENT as an independent contractor. CONSULTANT shall secure at its expense, and be responsible for any and all payment of all taxes, social security, state disability, insurance compensation, unemployment compensation and other payroll deductions for CONSULTANT and its officers, agents and employees and all business licenses, if any, in connection with the services to be performed hereunder. 15. TERMINATION OF AGREEMENT All work required hereunder shall be performed in a good and workmanlike manner. CITY may terminate CONSULTANT's services hereunder at any time with or without cause, and whether or not PROJECT is fully complete. Any termination of this AGREEMENT by CITY shall be made in writing, notice of which shall be delivered to CONSULTANT as provided herein. g:4:2000agree:Hull RLS 00-038 I-19-2000 16. ASSIGNMENT AND SUBCONTRACTING This AGREEMENT is a personal service contract and the supervisory work hereunder shall not be delegated by CONSULTANT to any other person or entity without the consent of CITY. 17. COPYRIGHTS/PATENT CITY shall own,.all rights to any patent or copyright on any workjtem or material produced as a result of this AGREEMENT. 18. CITY EMPLOYEES AND OFFICIALS . CONSULTANT.shall employ no CITY official nor any regular, CITY -employee in the work.performed pursuant to this AGREEMENT. No officer or employee of CITY shall have any financial interest in this AGREEMENT in violation of the applicableprovisions of the California Government Code. 19. NOTICES Any notice or special instructions required to be given in writing under this AGREEMENT shall be given either by personal delivery to CONSULTANT's agent (as designated in Section 1 hereinabove) or to CITY's Director of Economic Development as the situation shall warrant, or by enclosing the same in a sealed envelope, postage prepaid, and depositing the same in the United States Postal Service, addressed as follows: TO CITY: Director of Economic Development City of Huntington Beach 2000 Main Street Huntington Beach, CA 92648 g:4:2000agree:Hull RLS 00-038 1-19-2000 TO CONSULTANT: Mr. Bruce W. Hull Bruce W. Hull & Associates, Inc. 1056 Meta Street, Suite 202 Ventura, CA 93001 9 20. IMMIGRATION CONSULTANT shall be responsible for full compliance with the immigration and naturalization laws of the United States and shall, in particular, comply with the provisions of the United States Code regarding employment verification. 21. LEGAL SERVICES SUBCONTRACTING PROHIBITED CONSULTANT and CITY agree that CITY is not liable for payment of any subcontractor work involving legal services, and that such legal services are expressly outside the scope of services contemplated hereunder. CONSULTANT understands that pursuant to Huntington.Beach City Charter Section 309, the City Attorney is the exclusive legal counsel for CITY; and CITY shall not be liable for payment.of_any legal servicesexpenses incurred by CONSULTANT. 22. ATTORNEY' S FEE In the event suit is brought by either party -to enforce the terms and provisions of this AGREEMENT or to secure the performance hereof, each party shall bear its own attorney's fees. SIGNATURES ON NEXT PAGE 10 g:4:2000agree:Hull RLS 00-038 1-19-2000 • 23. ENTIRETY The foregoing, and Exhibit "A" attached hereto, set forth the entire AGREEMENT between the parties. IN WITNESS WHEREOF, the parties hereto have caused this AGREEMENT to be executed by and through their authorized offices the day, month and year first above written. CONSULTANT BRUCE W. HULL & ASSOCIATES, INC. a California corporation }�� �Bruce%W. Hull `�\ print name ITS: (circle one) Chairma resident/V' a President AND "" �6J By: —o"-�/ w� Dolores Hull r ITS: (circle e) ecreta ief Financial Officer/Asst. Secretary — Trea //�� Xf REVIEWED AND APPROVED: City t4ledrministrator g:4:2000agree:Hull RLS 00-038 1-19-2000 CITY OF HUNTINGTON BEACH, a municipal corporation of the State of California �. _. 'd •1-= ATT ST: // T� �iYj City -Clerk APPROVED AS 7O FORM: r —,,I— D�2/�� ' LJl.D0 City Attorney `a 1 1 INITIATED ANDAPPROVED. Dir6ctor of Ecorkofdic Development 11 Policv`mber: i%oo '2iABILITY�NACORDOCERTfFC�FL1 PRODUCER BRIAN H. ZENZ INSURANCE AGENCY, INC. THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION 4000 Birch Street, Suite #115 ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR Newport Beach, CA 92660-2211 ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. COMPANIES AFFORDING COVERAGE (949) 833-1541 COMPANY 180793 BRUH01 A Hartford Casualty Insurance Company INSURED Bruce W. Hull 6 Associates COMPANY B COMPANY C 1056 E. Meta Street #202 Ventura, CA 93001 COMPANY D --, "• .>4 •_ Y `�,�As`�•w 4+i BE OWN, 121 THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED, NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. i CO TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE POLICY EXPIRATION LIMITS LTR DATE (MWDD/YY) DATE (MNVDD/YY) GENERAL LIABILITY - GENERAL AGGREGATE i $ 2 , 000 , 000 A X' COMMERCIAL GENERAL LIABILITY 72 SBA EV4343 1,7/10/99 7/10/00 ; PRODUCTS - COMP/OPAGG $2,000,000. CLAIMS MADE �, OCCUR I PERSONAL & ADV INJURY $ 1,000,000. OWNER'S & CONTRACTOR'S PROT 3 EACH OCCURRENCE $ 1 , 000 , 000 . FIRE DAMAGE (Any one fire) $ 300,000. MED EXP (Any one person) $ 10,000. - AUTOMOBILE LIABILITY FI 72 SBA 7/10/99 7/10/00 COMBINED SINGLE LIMIT $ 1 , 000 , 000 , A ANY AUTO EV4343 ALL OWNED AUTOS BODILY INJURY $ SCHEDULED AUTOS - (Per person) BODILY INJURY $ HIREDAUTOS - NON --OWNED AUTOS (Per accident) =' I t �TO - ..- . .- 8'hC V:J AS FORM: - -- ._, - .. _. -- - ._ PROPERTY DAMAGE $ GARAGE LIABILITY GAIL RUfrTOIN AUTO ONLY - EA ACCIDENT $ ANY AUTO k"'"`•�:.�.:Y I OTHER THAN AUTO ONLY H EACH ACCIDENT $ AGGREGATE,$ EXCESS LIABILITY 1 at.'� s EACH OCCURRENCE $ AGGREGATE $ UMBRELLA FORM $ OTHER THAN UMBRELLA FORM WORKERS COMPENSATION AND I WC STATU- OTH TORY LIMI1: ER EMPLOYERS' LIABILITY y I EL EACH ACCIDENT $ EL DISEASE - POLICY LIMIT _ $ THE PROPRIETOR/ INCL PARTNERS/EXECUTIVE EL DISEASE - EA EMPLOYEE $ OFFICERS ARE: EXCL OTHER DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES/SPECIAL ITEMS Certificate holder is additional insured per endorsement CG 20 10 03 97 already sent to you. ATTN: Gus Duran FAX #714/375-5087 (original is in the mail to you). *10 day notice applies for non-payment of premium. CERTIF[CATt� HOLDER N CANCELATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, THE ISSUING COMPANY WILL MAIL City of Huntington Beach 30* DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, P. o. Box 190 T-FA eRBrre +reUM eLr -No�oBcrcarnvla'rnrttt[t3rtm HuntingtonlBeach,,,CA-92648���' OR] EPRESE E i "' _ ; °�-': � ",. -gO ORD CORPORATIQN�1988 25 S (1/95) ' ACORD •. • ; . ,< ,�„ _ ..,, _ . - �,`` . �� __.. � RECEIVED FES 2 5 2000 DEPARTMENT OF ECONOMIC DEVELOPMENT CITY OF HUNTINGTON BEACH APPLICATION FOR INSURANCE REQUIREMENTS WAIVER OR MODIFICATION 1. Name/Title/Department of Requesting Staff Member Chris Mendoza/Ofc Spec/Risk Mgmt 2. Date of Request 4/12/00 3. Name of Contractor/Permittee BRUCE W. HULL & ASSOCIATES 4. Description of work to be performed Appraisal of leasehold interest on property to be included in the Community Facilities District (CFD) for the Ocean Grand Resort 5. Value of Contract $76, 000 6. Length of Contract-Approx. eight (8) weeks 7. Type of Insurance Waiver or Modification Requested: $10K Professional Liability and cancellation clause wording (a) Limits: $1, 000, 000 (b) Coverage Professional Liability S. Have you contacted Risk Management to determine if professional liability coverage is available through SCOPE? N/A Reason for Request for Waiver or Reduction of Limits Unable to comply with zero deductible and cancellation clause wording as to City's requirements 10. Identify the risks to the City if this request for waiver or modifications granted None Department Head Signature (This section to be completed by Risk Manager) Recommendation: Approve f D ny Risk Manager's Signature/D (T section to be completed by City Attorney) Recommendation: Approve Deny Al City Attorney's Signature/Date `/ / Z/ 00 Settlement Committee approval [is no required for this waiver. If Settlement Committee approval ' equired, submit this form to City Attorney's ice to be placed on the agenda. Recommendation: Approve Deny City.Council approval ' [is not] equired for this waiver. If City Council approval is required, attach this form to the -RCA after consideration b ettlement Committee. This insurance waiver [is not] on City Council agenda.. Reviewer's initials: imp/mis/inswaiver/3/ 14/00 Sent by: J.A Price Agency,Inc 9529445061; 04/12/2000 2:32PM; #794; Page 2/2 TAS ACORD. CERTIFICATE OF INSURANCE DATE MMrDO/ 04�12/00 PRODUCER THIS CERfIFICATE IS ISSUED AS A MATTER OF INFORMATION J . A. PRICE AGENCY, INC. ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE 6640 shad Oak Road SUMO 50O Y HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. Eden Prairie, MN 55344 ~ COMPANIES AFFORDING COVERAGE COMPANY ANORTHLAND INSURANCE COMPANY INSURED BRUCE W. HULL & ASSOCIATES INC. COMPANY B 1056 EAST META STREET #202 ...... ...... ..... ........ ... .. ................... . VENTURA CA 93001 COMPANY COMPANY D COVERAGES THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED, NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY Pi RTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUDJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. T TYPE OF INSURANCE POLICY NUMBER LTR : POLICY EFFECTIVE i POLICY EXPIRATION ! LIMITS DATE (MM/ODIYY) DATE (MMIOONY) I GENERAL LABILITY ~~�• ••• "" ""�"��r"^^�— iGFN"ALAGGREGATE is :COMMERCIAk UtNERAL LIABILITY PROOUCTS•COMPIOP AGO iS ..CLAIMS MADE i orcUR : PERSONAL A ADV INJURY S _. .. i .. ............ ..... ;OWNER'S B CONlAA1;'ITNR'S PROT 1 I;ACM OCCURRENCE !i ................. FIRE DAMACW (Anyone life) is [D [XP (Any one person) AUTOMOBILE LIABILITY - ! COMBINED SINGLE LIMIT iS ANY AUTO I ALL UWNEO AUTOS 1� I _.............. :ROLYINJURY SCHEDULED AUTOS � I'90 J n I BODILY INJURY€IPA i NON-OWNF.:AAUfU5 n) rfacc,de ................... _.li ........ . PROPERTY DAMAGE . s GARAGE LIABILITY 0 13 �; A ill !AUTO ONLYFA ACCIDENT S ANY AI)TO THAN AUTO ONLY. GS , 'Deg In EACH ACCIDENT i _........ AGGREGATE is EXCESS LIABILITY I EACH OCCURRENCE Ii UMBRELLA FORM AGGREGATE I$ :OTHER THAN UMBRELLA FORM - '•i WORKERS COMPENSATION AND i STATUI CRY LIMITS EMPLOYERS'LIABILITY ;FA, .HACCIOENT gib•-• 1-Hf PROPRIETORI PAR Nffe$/FxtCU11VE , INCL . [�ISEA9E-P OLICY LIMIT ii - 'OFFICCRiARF- 'EXCL; EDISEASE•EACM17MPt-OYEEis A 'OTHER _ •. EJ100778 01/1.5/00 01/15/01. $1., 000, 000 PROFESSIONAL CLAIMS --MADE LIABILITY DF.SCRIPTIONOFOPERATWNSII.00ATIONSNEHICLESISPECIALITEMS CERTIFICATE HOLDER _ CANCELLATION V SHOULD ANY OF THF. ABOVE DESCRIBED POLICIES OF CANCELLED BEFORB THE CITY OF HUNT 2 NGTON BEACH EXPIRATION DATE THEREOF, THE ISSUIN40 COMPANY WILL ENDEAVOR TO MAIL 2000 MAIN STREET 30 DAYS WRITfP.N NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, 11UNGT I NGTON REACH CA 92648 BUT FAILUNd TO MAIL SUCH NOTICE SMALL IMPOSE NO OHLfGATION OR LIABILITY OF ANY KIND UPON THr; COMPANY, ITS AGENTS OR _REPRESENTA_T_IV_E_S_. AUTHORIZED REPRESENTATIVE ACORQ 26-S (3193) 1, of 1 A2 4 0 5 a ACORD CORPORATION 1993 APR-12-2000 12:21 9529445061 93% P.M ti 10-200 11:03PM FROM P.2 Gage is provided In Company checked Northlan aanndsexact =v X NORTHLAND INSURANCE COMPANY Insyrarire Cam es of policy numoer NORTHLAND CASUALTY COMPANY 00778 NORTHFIELD INSURANCE COMPANY Mendota Heights, MN 55120 3-�•OD APPRAISERS ERAWRSlND MISSIONS - CLAIMS -MADE POLICY DECLARATIONS THIS POLICY PROVIDES CLAIMS -MADE COVERAGE WHICH PROVIDES COVERAGE ONLY IF A CLAIM IS MADE DURING THE POLICY PERIOD OR ANY. APPLICABLE EXTENDED REPORTING PERIOD. PLEASE REVIEW THIS POLICY CAREFULLY AND DISCUSS THE COVERAGE WITH YOUR INSURANCE AGENT OR BROKER. POLICY NO. EJ100778 PREVIOUS POLICY NO. New NAMED INSURED AND MAILING ADDRESS AGENT NAME AND ADDRESS Bruce W. Hull & Associates Tennant Risk Services Inc. Inc. 1056 E. Meta Street, #202 City Place II, 185 Asylum Street Ventura CA 93001 Hartford, CT 06103 POLICY PERIOD FROM: 01/15/2000 TO: 01/15/2001 TERM:,. 12 Months 12:01 A.M. Standard Tima at your mailing address FORM OF BUSINESS: ❑ Individual ❑ Partnership © Corporation ❑ Joint Venture ❑ Limited Uabiliry Company ❑. Other Organization LIMITS OF INSURANCE DEDUCTIBLE Limit of Liability g _ 1,000,000, ..Deductible Per -Claim' $ 10,000 Aggregate Limit $ 2,000,000 Aggregate Deductible $ 20,000 RETROACTIVE DATE This Insurance does not apply to damages caused b eg%�lg� t 8M' error or omission which occurred before the retroactive date shown here. If no date Is shown, subject to the terms and conditions of this policy, full prior acts coverage applies. PREMIUM In return for the payment of the premium, and subject to all the terns of this policy, we agree with you to provide the Insurance as stated in this policy. Appraisers Errors and Omissions Coverage - Claims -Made S 2,938.00 Other ChargesPolicy Fee; $ Surplus Lines Tax & Stamp Fee: $ Total S 21938.00 FORMS AND ENDORSEMENTS S1371-EO (5/97), S893-EO (1/97), S899-EO (1/94), S1022-EO (6/95), S106-IL-A (R3/92), S844-EO (1/97), S847-EO (1/97), S903-EO (12/95) Date Received: Agency No. 4 82 ,�� Countersigned: By Date Authorized Representat1we S892-EO (9/96) PRODUCER APR-11-2000 11:04 99% P.02 THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. CG 20 10 03 97 ADDITIONAL INSURED -OWNERS, LESSEES OR CONTRACTORS - SCHEDULED PERSON OR ORGANIZATION This endorsement modifies insurance provided under the following: COMN ERCIAL GENERAL LIABILITY COVERAGE PART This endorsement changes the policy effective on the inception date of the policy unless another date is indicated below. Endorsement effective Policy No. 7/10/99 to 7/10/00 72 SBA EV4343 12:01 A.M. standard time Named Insured C;otmTe-rNgned by Bruce W. Hull & Associates authorized representative SCHEDULE Name of Person or Organization: City of Huntington Beach, it's agents, employees, representatives and volunteers named as additional insured with regard to general liability (If no entry appears above, information required to complete this endorsement will be shown in the Declarations as applicable to this endorsement). WHO IS AN INSURED (Section I1) is amended to include as an insured the personal or organization shown in the Schedule, but only with respect to liability arising out of your ongoing operations performed for that insured. CG 20 10 03 97 2/14/oopjh 0 • ZI RECEIVED F E B 16 2000 DEPARTMENT OF ECONOMIC DEVELOPMENT BRUCE W. HULL & ASSOCIATES, INC. REAL ESTATE APPRAISERS & CONSULTANTS January 18, 2000 VIA FACSIMILE ONLY TO: Stephen Kohler City of Huntington Beach FROM: Bruce W. Hull, MAI REF: Billing Rates - Bruce W. Hull & Associates, Inc. As you requested, I am providing the following information regarding our hourly billing rates. Principal $150.00 per houT Associate Appraiser (MAI) $100.00 Research Assistant $ 50.00 Office Support $ 15 to $20 1036 E. Mefa Street, Suite 202, Ventura, California 93001 - (805) 641-WS - Facslrnlle (805) 641.3278 115 E. Second Street, Sulls 100, Tustin, Californis'92780 - (949) 581.2194 - Facsimile (90) 5111-2198 JRN-16-2000 15:22 . 99% P.02 L� • PROPOSAL FOR APPRAISAL SERVICES PREPARED FOR THE CITY OF HUNTINGTON BEACH PROPOSED COMMUNITY FACILITIES DISTRICT (THE HILTON GRAND COAST RESORT PROJECT) CITY OF HUNTINGTON BEACH STATE OF CALIFORNIA Bruce W. Hull & Associates, Inc. RECEIVED 1056 E. Meta Street, Suite 202 Ventura, California 93001 DEC 15 1999 DEPARTMENT OF ECONOMIC DE.VELOPfAENT • C� BRUCE W. HULL & ASSOCIATES, INC. REAL ESTATE APPRAISERS & CONSULTANTS December 14, 1999 Mr. Stephen V. Kohler City of Huntington Beach 2000 Main Street Huntington Beach, California 92649 Reference: Proposal for Appraisal Services Hilton Grand Coast Resort Project City of Huntington Beach, County of Orange State of California Dear Mr. Kohler: In response to your request, I am pleased to submit a proposal on the above referenced project. The following information is submitted for your consideration. • Item 1 - A statement of the proposed scope of services to be performed. • Item 2 - Related experience and client references of Bruce W. Hull & Associates, Inc. • Item 3 - A statement relating to appraisal standards for secured financing. • Item 4 - Statements relating to use of appraisal in the Official Statement. • Item 5 - Statement relating to the signing of Certificate. • Item 6 - Names and resumes of persons to be involved in the project. Please note that both myself and associate are MAI appraisers. • Item 7 - A summary of public agency references for which appraisals relating to land secured financing have been performed. • Item 8 - An appraisal fee quote. • Item 9 - An estimated time schedule for completing the assignment. • Item 10 - Statement relating to insurance policies. I believe Bruce W. Hull & Associates, Inc. is a firm that would be well suited to perform the appraisal services required by the City of Huntington Beach. The firm is small enough for direct and responsive communication with the principal at all times, but large enough to perform large mixed use projects. I believe the background of the company is diversified with such experience in working with various public agencies to provide the City with a comfort level. Respectfully submitted, BRUCE W. HULL &ASSOCIATES, INC. T7 Bruce W. u , MAI BWH:dh Attachment 1056 E. Meta Street, Suite 202, Ventura, California 93001 - (805) 641.3275 - Facsimile (805) 641-3278 115 E. Second Street, Suite 100, Tustin, California 92780 - (A) 581-2194 - Facsimile (959) 581-2198 0 • For purposes of this proposal, I will refer to what I perceive the scope of the appraisal assignment involving the lands described as the proposed Community Facilities District (The Hilton Grand Coast Resort Project). The object of the appraisal assignment would be to measure the fair market value taking into consideration the facilities that funded the proposed CFD. The term "fair market value" is defined as being: "The most probable price in terms of money which a property should bring in competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently, knowledgeably, assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of sale as of a specified date and the passing of title from seller to buyer under conditions whereby: Buyer and seller are typically motivated; 2. Both parties are well informed or well advised, and each acting in what he or she considers his/her best interest; 3. A reasonable time is allowed for exposure in the open market; 4. Payment is made in cash or its equivalent; S. Financing, if any, is on terms generally available in the community as of the specified date and is typical for the property type in its locale; and 6. The price represents a normal consideration for the property sold, unaffected by special financing amounts and/or terms, services, fees, costs or credits incurred in the transaction. " Source: Real Estate Terminology, AIREA, SREA, edited by Byrl N. Boyce, Copyright 1981, Publisher - Ballinger, Page 160. The resulting report would be prepared in a comprehensive narrative format consistent with the Uniform Standards of Professional Appraisal Practices (USPAP) established by the Appraisal 1 Foundation of Professional Ethics and the Standards of Professional Practice of the Appraisal Institute. This assignment would also take into consideration the appraisal standards published by the Debt advisory Commission of the State of California. In addition, I understand an appraisal of certain right-of-ways that the City expects to acquire is required. I will consider this.as a separate appraisal report, but will include it in this proposal. I would propose the following due diligence: 1) Estimate the value of the lands to be acquired for proposed right-of-ways. This report will be prepared consistent with California Civil Code and the value will represent just compensation. 2) An estimate of value taken into consideration the proposed improvements of the CFD. The resulting value will reflect the value as enhanced by the CFD improvements. An appraisal report would be performed in such a manner that the results of the analyses, opinions, and conclusions are of a disinterested third party. All data deemed pertinent to the solution of the appraisal assignment would be collected, confirmed and reported in conformity with the Standards of the Professional Practice and Regulation 10, which contains the Code of Professional Ethics of the Appraisal Institute. In addition, the assignment would take into consideration the appraisal standards published by the Debt Advisory Commission of the State of California. Bruce W. Hull & Associates, Inc. provides a wide range and diversity of appraisal services. We have provided appraisal services to a variety of public agencies, lending institutions, developers, school districts, bond underwriters, and investment bankers. A partial list of these clients is included in the resume/qualifications of Bruce W. Hull, MAI. Appraisal assignments recently completed are summarized below. • Recently completed an appraisal on Talega Valley, a master planned development of 4,195 units, a golf course, a 93-acre business park, and a 9-acre commercial town center located in San Clemente. A bond issue is the amount of $67,070,000 was completed in August 11, 1999. Contact person is John Schatz, Santa Margarita Water District; (949) 459-6601. Recently completed an appraisal on Otay Ranch -Spa I, a master planned community consisting of 47 planning areas and 3,997 residential units located in the City of Chula Vista. 2 A $11,825,000 bond issues was completed on July 18, 1999. Contact person is Tom Johnsen of Fieldman, Rolapp & Associates; (949) 660-8500. Completed an appraisal for the City of Temecula on CFD 88-12, a project consisting of 666 acres with a variety of uses. There were over six different land uses ranging from residential to a regional center site. The. bond issues are for a refunding. of $18,000,000 as well as anew bond issue of $15,000,000. Contact person is Dawn Vincent, Stone & Youngberg; (818) 528- 2106. • Completed an assignment for the Jurupa Community Services District for a $50,000,000 refunding of a CFD. Just recently completed an update of the assignment. The CFD involves 1,600 acres and is predominately of large industrial uses. Contact person is Tom Johnsen of Fieldman, Rolapp & Associates; (949) 660-8500. • Completed an appraisal assignment (Pacific Commerce Center) for the City of Oxnard for a $31,000,000 refunding of an Assessment District. The project involved 1,508 acres with over 350 property owners. The land uses ranged from finished industrial lots to office and industrial buildings. Contact person is John Gibson, Stone & Youngberg; (619) 452-0556. A separate appraisal assignment for the City of Oxnard was completed at the end of 1996. This assignment was for Assessment District 96-1 ($8,560,000) and involved a mixed use commercial project involving Wal-Mart, Price Club, a factory outlet center, an auto center, and undeveloped residential and commercial lands. Contact person is John Gibson, Stone & Youngberg; (619) 452-0556. Have had an ongoing relationship with the City of Corona over the last ten years. The assignments for the City involved a number of CFD's and Assessment Districts. I have just recently completed an appraisal on a masterplanned residential project referred to as "Eagle Glen". This project involved a golf course and a residential development. Also completed an appraisal of CFD 90-1 which was a refunding of $62,000,000 in the South Corona area. Currently involved in a number of active residential projects as well as undeveloped land and finished residential lots. Contact person is Mr. Bill Workman, City Manager; (909) 736- 2376. • Completed an appraisal assignment for Saddleback Unified School District that involved the valuation of a significant portion of the planned community of Rancho Santa Margarita. This assignment (CFD's 88-1, 89-2 and 89-3) was a $30,000,000 bond issue. The contact person is Ms. Mary Lou Smith, Facility Manager; (949) 580-3357. Completed an appraisal of a master planned community (Coyote Hills) in the City of Fullerton. The appraisal was prepared for a proposed Assessment District (95-1). The District is comprised of a golf course, medium density residential lands, and custom residential lots. While technically under contract with Willdan Engineering (assessment engineers), the City of Fullerton reviewed and approved the appraisal report. The contact person is Mr. Ronald Wallin, Senior Civic Engineer; (714) 738-6853. 3 0 • Please refdr to Qualifications of Bruce W. Hull, MAI for additional listing of land secured appraisal assignments. At the invitation of the California Debt Advisory Commission, I (along with several other appraisers and bond underwriters) was a participant on the Advisory Board which formulated the "Appraisal Standards for Land Secured Financings". Appraisal standards are now required by cities/district in the financing of real estate in Mello -Roos, CFDs and Assessment Districts. I am aware of the need for the appraisal report to be included in the draft and final Official Statements relating to the subject bond issue. The appraiser will sign a certificate at the transaction's closing asserting that the appraisal information is properly presented within the disclosure documents and that the summary is complete and accurate. ITEM 6 LIST OF ► 1 "' ' The appraisers to be involved in this assignment will be Bruce W. Hull, MAI (principal) and Karen S. Siino, MAI (associate). A resume for each is located at the end of this proposal. .19 ITEM 7 PUBLIC AGENCY REFERENCES • Etiwanda School District - John L. Golden, Asst. Superintendent; (909) 899-2451 • Santa Margarita Water District - John Schatz, General Manager; (949) 459-6601 • Redlands Unified School District - Teri Schira, Facilities; (909) 307-5300 • Saddleback Unified School District - Mary Lou Smith, Facilities; (949) 580-3357 • City of Corona - Bill Workman, City Manager; (909) 736-2376 • Metropolitan Water District - Wayne Lusvardi, Land and ROW Division; (213) 217-7661 • City of Moreno Valley - John Strickler, Public Works; (909) 413-3155 A fee in the range of Fifty to Sixty Thousand Dollars ($50,000 - $60,000) is estimated based on the perceived scope of services for this assignment. ITEM 9 ►/sll 91 1/ �. •. 91 The assignment will be completed in conjunction with the sale of the bonds. ITEM 10 INSURANCE POLICIES Bruce W. Hull & Associates, Inc has a commercial liability coverage in the amount of $1,000,000. Workman's Compensation is not required due to the only employees of the corporation are also the sole shareholders. We currently have an error omission policy, but this carrier is discounting the service. We have recently applied to a separate carrier. 5 • • QUALIFICATIONS OF BRUCE W. HULL, MAI Business Locations: 115 E. Second Street, Suite 100 Tustin,- California 92780 (949) 581-2194 * Facsimile (949) 5.81-2198 1056 E. Meta Street, Suite 202 Ventura, California 93001 (805) 641-3275 * Facsimile (805) 641-3278 Direct Correspondence to Ventura Location Bruce W. Hull &, Associates, Inc. is an appraisal firm that provides a wide variety of appraisal assignments for public agencies, developers, and financial institutions.. The principal, Bruce W. Hull, MAI, has been in the appraisal field since graduation in 1969 from Westmont College, Santa Barbara. After being employed by the Ventura County Assessor's Office for five years, he established an appraisal company in Orange County in 1974. While most of the appraisal assignments are in Southern California, assignments have been completed in areas from San Francisco/Bay Area and Lake Tahoe to San Diego. The appraisal assignments completed have been diverse in nature, including such property types as large masterplanned developments, shopping centers, large retail uses, and mitigation land. A brief summary of the more challenging assignments are listed below: These are typically more than 1,000 acres in size and have a wide variety of residential product, often ranging from condominiums to large estate type of properties. In addition, there is often a commercial use within the development. I have been involved in the following projects. Lake Sherwood, Hidden Valley Wood Ranch, Simi Valley Rancho San Clemente, San Clemente. Towne Center, Rancho Santa Margarita Rancho Trabuco North and South, Rancho Santa Margarita Hunters Ridge, Fontana The Corona Ranch, Corona Mountain Cove, Temescal The Foothill Ranch, Corona Orangecrest, City of Riverside 0 • Consultant to City of Long Beach regarding a 30-acre site (Long Beach Naval Hospital) which the City was acquiring from the US Navy for inclusion in a 100 acre shopping center site. Towne Center, Rancho Santa Margarita, is a masterplanned project which contains two shopping centers (Towne Center, 160,000 SF plus a Target Store, 122,000 SF; Plaza Antonio, 165,000 SF). Mission Grove, City of Riverside, is a 395,362 SF center which included a K-Mart Department Store among the major tenants. Victoria Gardens Masterplan was a proposed mixed use project consisting of 3,065 acres of land which included a mixture of residential (2,150 acres); commercial (335 acres of which 91.9 acres was a regional center site); schools; parks; and open space for the remainder of the lands. Menifee Village, Riverside County, is a 1,977-acre masterplanned development which had approvals for 5,256 units. The assignment. included the valuation of Planning Area 2-7 which was a commercial site that had been developed with a Target Store, Ralph's Market, and in -line stores (190,000 SF with eventually being a 257,000 SF center). These assignments involved valuing lands that are considered mitigation lands which are often acquired by public agencies or nonprofit organizations. Bolsa Chica, Huntington Beach, a 42-acre site which was part of a larger wetlands conservation program. This particular acreage was unique since it was subject to "tidal flushing" and had both fresh and saltwater impacting the lands. This assignment was completed for Metropolitan Water District. San Joaquin Marsh, City of Irvine, consisted of approximately 289 acres of wetlands which were acquired for use as a "buffer" zone by the Irvine Ranch Water District. Eagle Valley, a 1072-acre parcel near Lake Matthews in Riverside County, was acquired by Metropolitan Water District for use as a water treatment plant and buffer zone. Poormans Reservoir, Moreno Valley, a 38-acre site acquired by the City of Moreno Valley for preservation/open space use. Have been involved in the appraisals for the following Bond Issues relating to Community Facilities Districts and/or Assessment Districts. (The following represents a partial list of assignments completed from 1990 thru Present.) CFD No. 88-1 (Saddleback Valley Unified School District); Rancho Santa Margarita CFD No. 89-2 (SVUSD); Rancho Santa Margarita CFD No. 89-3 (SVUSD); Rancho Santa Margarita Centex A.D. No. 95-1; City of Corona Coyote Hills A.D. No. 95-1; City of Fullerton Sycamore Creek A.D. No. 95-1; City of Orange Prop. CFD No. 2 (Riverside Unified School District); City of Riverside CFD No. 91-1; City of Rancho Cucamonga Prop. CFD No. 2; City of Chino CFD No. 9; County of San Bernardino A.D. No. 89-1; City of Corona CFD No. 87-1 (Series B); City of Moreno Valley CFD No. 90-1; City of Corona CFD No. 89-1; (Saddleback Valley Unified School District); County of Orange A.D. No. 96-1; City of Oxnard A.D. Nos. 86-3, 87-1 and 89-1 (Refunding); City of Oxnard CFD No. 90-1; City of Corona CFD No. 1 (Refunding); City of Jurupa CFD No. 88-12; City of Temecula Have completed appraisal assignments for a wide variety of clients. A partial list of these includes the following. Bank of America NT & SA Bank of Montreal Bear, Stearns & Co., Inc. Best Best & Krieger LLP (Law Firm) Brea Olinda Unified School District Carpinteria Valley Unified School District Chino Unified School District Citicorp, N.A. City of Chino City of Colton City of Corona City of Fullerton City of Huntington Beach City of Mission Viejo City of Moreno Valley City of Orange City of Oxnard City of San Bernardino City of San Marcos City of Temecula Coast Federal Bank Colton Joint Unified School District County of Los Angeles County of Orange r� County of Riverside County of San Bernardino County of Ventura Downey Savings and Loan Federal National Mortgage Association (FNMA) Federal Deposit Insurance Corporation (FDIC) Fieldman, Rolapp & Associates (Financial Consultants) Irvine Ranch Water District Irvine Unified School District Jurupa Community Services District Metrobank Metropolitan Water District Meserve, Mumper & Hughes (Law Firm) Rialto Unified School District Saddleback Valley Unified School District Sidley & Austin (Law Firm) Southern California Edison Company Stone & Youngberg LLC (Bond Underwriters) Talmantz Aviation The Irvine Company Wells Fargo Bank Wells Fargo Mortgage Company Weyerhaeuser Mortgage Company Qualified Expert Witness in the following .superior courts. Los Angeles County Superior Court Orange County Superior Court Riverside County Superior Court Ventura County Superior Court Member - The Appraisal Institute (No. 6894) Real Estate Broker - State of California Certified General Real Estate Appraiser - State of California (Certificate: AG004964) UCLA Symposium on Mello Roos Districts - 1988 "Exploring the Rumors & Realities of Land Secured Debt in California" - Conference sponsored by Stone & Youngberg, bond underwriters, held in Los Angeles on January 15, 1992. "Appraisals for Land Secured Financings" presentation sponsored by Stone & Youngberg, LLC, bond underwriters, held at their San Francisco Headquarters on March 5, 1998. Member Advisory Panel to California Debt Advisory Commission regarding Appraisal Standards for Land Secured Financing (May, 1994). • • EDUCATION QUALIFICATIONS OF KAREN S. SIINO_ MAI Bachelor of Arts in Business Administration, Financial Investments, California State University, Long Beach, California (1980) Post -graduate Study, Real Estate Development, University of California, Irvine, California Appraisal Institute Classes: Uniform Standards of Profes- sional Appraisal Practice, A & B; Appraisal Principles; Appraisal Procedures; Basic Income Capitalization; Advanced Income Capitalization; Narrative Report Writing; Advanced Applications, Case Studies. Successfully completed all classes in addition to successfully completing the writing of a Demonstration Report and passing the Comprehensive Exam for the Appraisal Institute. Became a Member of the Appraisal Institute in December, 1996. EMPLOYMENT 19Rrpsent Associate Appraiser for various MAI's. Duties Include the appraisal of various types of properties such as commercial, retail, industrial and vacant land. Specialty properties include easements, right- of-ways and special assessment districts. From 1985 to 1988 worked part-time; from 2/88 full-time. 1986 - 1988 Project Manager of Development for Ferguson Partners, Irvine, California. Duties included finding land; review of fee appraisals and valuations; analysis of proposed development; planning and design; management of development, construction and lease -up. The types of properties developed were commercial and indus- trial. Duties ranged from raw, vacant site develop- ment through property management of recently devel- oped projects. 1981 - 1986 Manager of Finance, Construction for Community Development Division, The Irvine Company, Irvine, California. Duties included originating and managing a newly formed division of finance to bridge between •. • the accounting functions and project management functions. Worked with analysis and budgets for Community Development Division. Coordinated with cities in forming new Assessment Districts to finance major infrastructure improvements. Types of proper- ties were apartments and single family residential lots on a for sale basis to apartment and home builders. 1980 - 1981 Investment Counselor, Newport Equity Funds, Newport Beach, California. Duties included obtaining private financing for residential properties and working with appraisals of properties and analyzing the invest- ments. LICENSES Real Estate Sales Person, State of California, 1980 Certified General Appraiser, State of.California (#AG004793) ORGANIZATIONS MAI #11145 - Appraisal Institute 2-06-200 10:53PM FROM • P. 2 BRUCE W. HULL & ASSOCIATES, INC. REAL ESTATE APPRAISERS & CONSULTANTS February 4, 2000 VIA. FACSIMILE To: Gus Duran City of Huntington Beach From.: Bruce W. Hull Bruce W. Hull & Associates, Inc. Ref: Additional Scope of Appraisal. work -Hilton Grand Coast Resort Huntington Beach, California An additional scope of appraisal work is requested on the above assignment. Specifically, the assignment will include an estimate of the fee simple property rights of the above referenced project. For this I have estimated an additional fee "Not to exceed $10,000". 1056 E. Meta Street, Suite 202, Ventura, California 93001 - (805) 641-3275 - Facsimile (805) 641-3278 115 E. Second Street, Suite 100, Tustin, California 92780 - (949) 581-2194 - Facsimile (949) 581-2198 FEB-07-2000 09:52 99% P.02 4REQUEST FOR COUNCIL ACOON MEETING DATE: April 17, 2000 DEPARTMENT ID NUMBER: ED 00-05 Staff solicited proposals from three firms familiar with the requirements for this type of appraisal. The Bruce W. Hull consultant firm was selected because of its previous experience most closely met the requirements of this assignment and because its fee was comparable to that quoted by the other firms. City staff, bond counsel and the investment banker all participated in the review and selection process. The original proposal was for an amount not to exceed $76,000. Subsequently, the Department of Housing and Urban Development (HUD) has required the appraisal of the fee simple interest. Staff has had to amend the contract to reflect the added cost of preparing basically two appraisals. One of the appraisals is for the formation of the CFD and the other to meet HUD's security interest of the Section 108 Loan. Costs of the appraisal will be limited to the actual costs incurred by the appraiser in the preparation of the necessary documents. Conceivably, appraisal costs could come under the not to exceed figure of $76,000. Environmental Status: NA Attachment(s): RCA Author: Duran @ X1529 AppraiserRCA -2- 03/06/00 3:18 PM RCA �OUTING �HEET INITIATING DEPARTMENT: `_Economic -Development-- 7 SUBJECT: rApproval of C_o_ntract-for Appraisal'Services Br"uce1W. Hull '& Associates_:(Hilton GrandCoast Resort)' COUNCIL MEETING DATE: j-April-17, 2000--1 Ordinance (w/exhibits & legislative draft if applicable) Not Applicable Resolution (w/exhibits & legislative draft if applicable) Not Applicable Tract Map, Location Map and/or other Exhibits Not Applicable Contract/Agreement (w/exhibits if applicable) (Signed in full by the City Attorney) Attached Subleases, Third Party Agreements, etc. (Approved as to form by City Attorney) Not Applicable Certificates of Insurance (Approved by the City Attorney) Not Applicable Financial Impact Statement (Unbudget, over $5,000) Not Applicable Bonds (If applicable) Not Applicable Staff Report (If applicable) Not Applicable Commission, Board or Committee Report (If applicable) Not Applicable Findings/Conditions for Approval and/or Denial Not Applicable EXPLANATION FOR MISSING ATTACHMENTS EXPLANATION FOR RETURN OF ITEM. (Below Space For City Clerk's Use Only) i i