Resolution No. 5980
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RESOLUTION NO. 5980
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF VERNON APPROVING AND AUTHORIZING
THE EXECUTION OF A LETTER AGREEMENT BY AND
BETWEEN THE CITY OF VERNON AND STRATEGIS
ASSET VALUATION & MANAGEMENT FOR FIXED
ASSET APPRAISAL SERVICES
WHEREAS, the City of Vernon desires to maintain current
information relative to fixed assets for risk management and
accounting purposes; and
WHEREAS, Strategis Asset Valuation & Management has
submitted a Letter Agreement containing a "Proposal For Fixed
Asset Appraisal Services" dated August 16, 1991; and
WHEREAS, Bruce V. Malkenhorst, the Director of Finance,
by letter dated August 5, 1991, recommended to the Finance
Commi ttee that approval be granted to retain the services of
Strategis Asset Valuation and Management to perform said
appraisal services for the City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF VERNON AS FOLLOWS:
SECTION 1: The City Council of the City of Vernon
hereby finds and determines that the recitals contained
hereinabove are true and correct.
SECTION 2: The City Council of the City of Vernon
hereby approves the Letter Agreement dated August 16, 1991, a
copy of which has been presented to the City Council
concurrently with this resolution and the City Council hereby
orders said Letter Agreement to be received and filed by the
City Clerk.
SECTION 3: The City Council of the city of Vernon
hereby authorizes the Mayor and the City Clerk to execute said
Letter Agreement for, and on behalf of, the City of Vernon.
SECTION 4: The City Clerk of the City of Vernon shall
certify to the passage of this resolution and thereupon and
thereafter the same shall be in full force and effect.
APPROVED AND ADOPTED this 20th day of August, 1991.
A~ d
BRUCE V. MALKENHORST, city Clerk
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1 STATE OF CALIFORNIA )
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2 COUNTY OF LOS ANGELES )
3 I, BRUCE V. MALKENHORST, city Clerk of the City of
4 Vernon, do hereby certify that the foregoing Resolution, being
5 Resolution No. 5980, was duly adopted by the City Council of the
6 City of Vernon at a regular meeting of the City Council duly
7 held on Tuesday, Auaust 20. 1991. and thereafter was duly signed
8 by the Mayor of the City of Vernon.
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11 BRUCE V.
12 (SEAL)
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A Strategis
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August 16, 1991
Strategis Asset Valuation
& Management
144 South Beverly Drive
Suite 600
Beverly Hills, CA 90212
Telephone 213-273-2747
Facsimile 213-273-9011
19 AUG 9 t 9: 25
Ms. Joan A. Francone
Risk Manager
City of Vernon
4305 Santa Fe Avenue
Vernon, CA 90058
RE:
Proposal for Fixed Asset AP'Draisal services
Dear Ms. Francone:
Confirming our telephone conversation of June 26, 1991, it is our
understanding that in the near term the city of Vernon intends to
approve our proposal for fixed asset appraisal services dated
June 12, 1991.
At your request we have prepared this letter to replace our
amending letter dated July 1, 1991. Together with the June 12,
1991 proposal, this letter will serve as the agreement for
services to be provided.
The specific services to be authorized are as follows:
PIXED ASSET APPRAISAL SERVICES
Assets exceeding $250 Cost, Group
Control and Non-controllable @ $10,050
OPTION A:
Tagging @ $800
OPTION B:
P.A.C.T.S. Software Program including:
PC Based Software, Data Base,
Documentation, Installation, Training
and support @ $3,500
In the tagging service our appraisal personnel will record the
tag numbers that are readily visible on all previously tagged
unit control items, tag any untagged unit control items and enter
the tag numbers into the data base.
The City will purchase the tags needed for this assignment as
well as for perpetuation of the tagging system. Our fee quoted
for the tagging option assumes the City will provide tags that do
not require the use of a solvent during the application process.
A member of the
Alexander & Alexander Group
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Ms. Joan A. Francone
~ city of Vernon
August 16, 1991
Page 2
Tags must be available prior to the scheduled start of the field
inventory- Delays in receiving tags can potentially affect our
final delivery schedule.
Upon receipt of your authorization, we will contact you to
determine a mutuallY agreeable time schedule for the project
planning meeting and the start of the field inventory and
research. our reports will be delivered within 90 days of
project commencement, assuming prompt authorization.
preceding the project planning meeting, strategiswill
the city a certificate of insurance naming the
certificate holder and certifying that our company
issued general liability, automobile liability and
compensation and employees' liability insurance.
submit to
city as
has been
workers'
We look forward to working with the city o~ vernon on this
important project. You may formally authorize our services by
returning an executed copy of our proposal to my attention.
sincerely,
STRATEGIS ASSET VALUATION
~~fk
ACCEPTED FOR THE CITY OF VERNON
4~ J. ,{/ /I Z f,YL ,'i"f:C./
"T'H'OMAS A. YMRRA, Mayor Pro Tem
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BRUCE V. MALKENHORST, City Cler
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Thomas W. Schmitt
Valuation consultant
By:
cc: David Fitzsimons
By:
Date:
APPROVED AS TO FORM:
By: ~~ \71\J~
David B. Brearley, ~~ y
Date: q..f3~q\
Attorney
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!A Strategis
Strategis Asset Valuation
& Management
144 South Beverly Drive
Suite 600
Beverly Hills, CA 90212
Telephone 213-273-2747
Facsimile 213-273-9011
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June 12, 1991
Ms. Joan A. Francone
Risk Manager
city of Vernon
4305 Santa Fe Avenue
Vernon, CA 90058
RE:
Request for Proposal for Appraisal
services for the city of Vernon
Dear Ms. Francone:
strategis Asset Valuation & Management appreciates the
opportunity to submit our proposal and recommendations for
professional valuation consulting services to the City of Vernon
in response to your request for proposal.
The proposal is based upon our telephone consultations and
meeting on May 23, 1991, a review and analysis of the information
on facilities provided to us and our considerable experience in
establishing property records for municipalities.
The purpose of our service is to provide the city of Vernon with
a comprehensive fixed asset inventory, appraisal and management
system to meet its objectives for financial reporting,
accountabili ty and control, insurance, capi tal expendi ture
planning and accounting requirements.
strategis is one of the oldest valuation consulting firms in the
United states, tracing its roots back to 1929. A member of the
international insurance services firm, Alexander and Alexander
Group, strategis is national in scope with 17 offices serving the
appraisal needs of public and private entities.
The company specializes in services to commercial, industrial and
public sector clients, principally in the areas of merger,
acquisition. and divestment, financing, ad valorem, estate and
gift tax, J.nsurance, property records, and litigation support.
Asset valuations include all intangible and tangible assets.
A member of the
Alexander & Alexander Group
....
or
Ms. Joan A. Francone
city of Vernon
June 12, 1991
Page 2
The range of staff experience covers virtually every aspect of
commercial and industrial valuation, from small companies to
multi-national conglomerates; from small school districts to
major cities and states. We value all types of assets, including
land, buildings and structures, machinery and equipment, and
intangibles.
Backgrounds of strategis personnel include engineering,
economics ,construction , finance, law, data processing, tax and
accounting. Management and appraisal staff also have significant
depth and experience in administrative hearings, IRS conferences
and trial testimony.
strategis prides itself on the high level of expertise which each
staff member brings to our organization. The firm was founded on
the belief that our clients expect and deserve the highest
quality of appraisal service available.
strategis' Public Sector Division was acquired from Consilium,
Inc. in a transaction which was completed on December 3, 1990.
The acquisition includes the transfer of consilium's entire
public entity practice and staff to strategis. This will help
assure that the service we have proposed to the city of Vernon
will be completed in a timely and careful manner without
disruption.
Our Public Sector Division assists school districts, colleges,
universities, cities, counties and special districts in
establishing and maintaining their fixed asset records. The
division is comprised of full-time, in-house appraisal staff.
Our commitment is to employ only the most qualified professionals
in the industry.
The division is managed by Mr. william N. Jaeger, vice President
of Appraisal services, Public Sector Division. Mr. Jaeger has
more than twelve years experience inventorying and valuing
property owned by municipalities. He has managed hundreds of
public sector engagements and is a nationally known speaker on
fixed asset issues.
fA Strategis
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Ms. Joan A. Francone
City of Vernon
June 12, 1991
Page 3
I will be your primary contact relating to the services proposed
in this letter. Mr. Jaeger will serve as the executive in charge
for the engagement and is thus responsible for its timely and
accurate execution.
We look forward to working with the ci ty of Vernon on this
important project. If you have questions regarding the proposal
or require further information, please let me know.
Sincerely,
STRATEGIS ASSET VALUATION
& MANAGEMENT
)1 ufJiDr--
Thomas W. Schmitt
Valuation Consultant
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A Strategis