HomeMy WebLinkAboutAgenda Statement 1984/03/13 Item 12 COUNCIL AGENDA STATEMENT
Item 12
Meeting Date 3/13/84
ITEM TITLE: Resolution ? Entering into a contract with Gerald S.
Kibbey & Associates, Inc. for appraisal of the City-owned
parcel located on Bonita Road adjacent to the Chula Vista
Municipal Golf Course
SUBMITTED BY: Community Development Directo 4 the Vote: Yes No X )
REVIEWED BY: City Manage rte.
The Department of Community Development has been requested to prepare an RFP
for proposals for the development of the City-owned parcel of land located on
Bonita Road adjacent to the Chula Vista Municipal Golf Course. This parcel
comprises approximately 3.13 acres and is to be developed as a visitor-
commercial land use. The RFP will be sent out to the San Diego real estate
development community. Concurrently, staff is requesting that the City enter
into a contract with Gerald S. Kibbey & Associates, Inc. , for the appraisal of
the subject property in order to establish a fair market leasing value.
RECOMMENDATION: That the Agency approve the resolution and enter into a
contract with Gerald S. Kibbey & Associates, Inc. , for appraisal of the
subject property.
BOARDS/COMMISSIONS RECOMMENDATION: Not applicable.
DISCUSSION:
Staff contacted three MAI appraisers who submitted proposals for appraising
the subject property. The proposals received were as follows:
Gerald S. Kibbey & Associates, Inc. $1 ,500.00
Hilliard Lipman & Associates $1 ,700.00
Lee C. Johnson Company $3,500.00
The submittals by Messrs. Lipman and Kibbey include a narrative report and
fair market valuation based upon comparable sales and any mitigation measures
which may be necessary to develop the site. Mr. Johnson's price includes a
developmental residual study on the site in addition to the normal use of
comparables which he believes is necessary in order to provide proper
evaluation. Mr. Johnson indicated that he would not undertake the appraisal
without a developmental residual study which represents 40% of his fee.
Neither Mr. Lipman nor Mr. Kibbey felt that a developmental residual study was
necessary to provide an adequate valuation of the site.
Page 2, Item 12
Meeting Date 3/13/84
It is the intention of the City to lease rather than to sell the subject
parcel. Since the City already owns the parcel and does not anticipate
litigation, it is staff's determination that an appraisal based upon
comparable values will suffice. It is therefore recommended that Gerald S.
Kibbey & Associates, Inc. , be awarded the contract for appraisal of the
subject property.
FISCAL IMPACT:
Since this parcel is not located within a redevelopment project area,
redevelopment funds may not be used to pay for the appraisal . However, this
project falls under the purview of the City's general economic development
program, and construction of a tourist-oriented facility on this site,
including a restaurant and/or a motel , will provide jobs to low and
moderate-income persons. This is, therefore, a Block Grant eligible expense
which may be funded under our economic development revolving fund with the
understanding that the cost of the appraisal will be reimbursed to this
account once the property is developed and the City is receiving lease
revenues. Funds are available in account no. 631-6310-BG122.
WPC 1000H
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Form No. F-229
12/73
CERTIFICATE OF CITY/DIRECTOR OF FINANCE
Certification of Unappropriated Balance
I HEREBY CERTIFY that the money required for the
appropriation of funds for the purpose set forth in the attached
resolution is available in the Treasury, or is anticipated to
come into the Treasury, and is otherwise unappropriated.
Amount $ Fund
Purpose
Bidder
Director of Finance
The City of Chula Vista
Date By
Certification of Unencumbered Balance
I HEREBY CERTIFY that the indebtedness and obligation
to be incurred by the contract or agreement authorized by the
attached resolution can be incurred without the violation of any
of the provisions of the Charter of the City of Chula Vista, or
the Constitution or the laws of the State of California, that
sufficient monies have been appropriated for the purpose of said
contract, that sufficient monies to meet the obligations of the
contract are actually in the Treasury, or are anticipated to come
into the Treasury to the credit of the appropriation from which
the same are to be drawn, and that said monies now actually in
the Treasury, together with the monies anticipated to come into
the Treasury, to the credit of said appropriation are otherwise
unencumbered.
Amount Not to Exceed $ 1 .500.00
RESOLUTION NO. 11560 �J
Acting Director of Finance
The City of Chula Vista
Date 3/13/84 By
Fund 631-6310-BG122 Dept./Activity Community Development
Purpose Contract for appraisal of City-owned parcel located on Bonita Road
adjacent to the Chula Vista Municipal Golf Course
Bidder Gerald S. Kibbey & Associates, Inc.
Certificate No. 59
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