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HomeMy WebLinkAboutContract 1892 PATCHIN MESSNER & DODD VALUATION COUNSELORS February 16, 2006 City of Columbia Heights Economic Development Authority 590 ~ 40th Avenue Northeast Columbia Heights, MN 55421-3878 ATTN: Mr. Robert Streetar Community Development Director RE: Valuation Consulting and Appraisal Services Patchin Messner & Dodd 13967 West Preserve Boulevard Burnsville, Minnesota 55337 To whom it may concern: This letter is intended to be a memorandum of understanding concerning the engagement of Patchin Messner & Dodd for the purpose of rendering valuation consultation and/or appraisal reports. Itis understood by both parties that the nature of the assignment is as follows: Property Identification: Columbia Heights Rental/GEM Properties LLC 3901 (3905) Central Avenue NE rib' H 'h M' t _o.urn la. elg ts, . .tnneso.a Function of Appraisal: Estimate the current fee simpl~ market value of the real estate for possible acquisition. Legal description, survey, site plan, building plans, leases (if any), 3-year history of income and expenses/financial statements, and contact to arrange inspection of the property. Prepare Limited appraisal in a summary report format in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP). Requested Data: Services to be Provided: Sunset Ponds Office ParI< · 13967 West Preserve Boulevard · Burnsvil/e, MN 55337 Phone: (952) 895- ] 205 Fax: (952) 895-1521 Esti mated Cost of Services Rendered: $5,500.00 Time after delivery, if necessary, will be invoiced separately at the following professional hourly fees: Pre~Trial Preparation /Meeti ngs $175.00/Hr. $150.00/Hr. $85.00 To $100.00/Hr. Hearings/ T esti mony $225.00/Hr. $200.00/Hr. $125.00/Hr. Jason Messner Clay Dodd Associate Appraisers Del ivery Date: We will furnish three copies of the appraisal within 8 weeks following the return of this authorization to proceed and requested data. We can only complete the appraisal by this date if we receive the requested data in a timely manner. Terms: Total amount due within 30 days following date of invoice, 1-1/2% per month interest charges will be added to accounts not paid by that time. Retai ner Fee - to be paid in advance: None. If you have any questions or comments after reading this letter of engagement, please feel free to contact me at your convenience. Respectfully submitted, PATCHIN MESSNER & DODD ~:e~:,:~ JLM:mlm Authorization To Proceed Client Name: Individual Responsible: Signature: Date Accepted: .;) I PATCHIN MESSNER & DODD