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HomeMy WebLinkAboutVALBRIDGE PROPERTY ADVSIORSINSURANCE NOT ON rILE WORK �jMAY NOTPROCEED N 2019-253 DA Of JO it r-�u 1j SvS� ovcsp¢ a(� CONSULTANT AGREEMENT BETWEEN J THF. RiTCCFQC(IR AV-RNCV AND VAI.RUMCP PRnPFRTV A"V1QnD4 THIS AGREEMENT, made and entered into this 1st day of October, 2019 by and between Valbridge Property Advisors (hereinafter "Consultant'), and the Successor Agency to the former Community Redevelopment Agency of the City of Santa Ana, a public body (hereinafter "Successor Agency"). RECITALS A. The Successor Agency desires to retain a consultant having special skill and knowledge in the field of real property appraisals. B. Consultant represents that Consultant is able and willing to provide such services to the Successor Agency, as described in the scope of work attached herein as Exhibit A. C. In undertaking the performance of this Agreement, Consultant represents that it is knowledgeable in its field and that any services performed by Consultant under this Agreement will be performed in compliance with such standards as may reasonably be expected from a professional consulting firm in the field. NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the terms and conditions hereinafter set forth, the parties agree as follows: 1. SCOPE OF SERVICES Consultant shall provide real estate appraisal consulting services, on an as -needed basis, at the written direction of the Executive Director of the Community Development Agency, or his/her designee, in compliance with the Scope of Work, attached herein as Exhibit A to this Agreement. 2. COMPENSATION a. Successor Agency neither warrants nor guarantees any minimum or maximum compensation to Consultant under this Agreement. Consultant shall be paid only for actual services performed under this Agreement as provided in each estimate. The total sum to be expended under this Agreement shall not exceed Ten Thousand Dollars ($10,000.00) during the term of this Agreement, including any extension period. b. Payment by Successor Agency shall be made within forty-five (45) days following receipt of proper invoice evidencing work performed, subject to Successor Agency accounting procedures. Payment need not be made for work which fails to meet the standards of performance set forth in the Recitals which may reasonably be expected by Successor Agency. 3. TERM Page 1 of 9 This Agreement shall commence on the date first written above and terminate on September 30, 2020, unless terminated earlier in accordance with Section 15 below. The term of this Agreement may be extended for a single (1) one-year period upon a writing executed by the City Manager and the Successor Agency Counsel. 4. INDEPENDENT CONTRACTOR Consultant shall, during the entire term of this Agreement, be construed to be an independent contractor and not an employee of the Successor Agency. This Agreement is not intended nor shall it be construed to create an employer -employee relationship, a joint venture relationship, or to allow the Successor Agency to exercise discretion or control over the professional manner in which Consultant performs the services which are the subject matter of this Agreement; however, the services to be provided by Consultant shall be provided in a manner consistent with all applicable standards and regulations governing such services. Consultant shall pay all salaries and wages, employer's social security taxes, unemployment insurance and similar taxes relating to employees and shall be responsible for all applicable withholding taxes. 5. OWNERSHIP OF MATERIALS This Agreement creates a non- exclusive and perpetual license for Successor Agency to copy, use, modify, reuse, or sublicense any and all copyrights, designs, and other intellectual property embodied in plans, specifications, studies, drawings, estimates, and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Consultant under this Agreement ("Documents & Data"). Consultant shall require all subcontractors to agree in writing that Successor Agency is granted a non-exclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Consultant represents and warrants that Consultant has the legal right to license any and all Documents & Data. Consultant makes no such representation and warranty in regard to Documents & Data which were provided to Consultant by the Successor Agency. Successor Agency shall not be limited in any way in its use of the Documents and Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at Successor Agency's sole risk. 6. INSURANCE Prior to undertaking performance of work under this Agreement, Consultant shall maintain and shall require its subcontractors, if any, to obtain and maintain insurance as described below: a. Commercial General Liability Insurance. Consultant shall maintain commercial general liability insurance naming the Successor Agency, its officers, employees, agents, volunteers and representatives as additional insured(s) and shall include, but not be limited to protection against claims arising from bodily and personal injury, including death resulting therefrom and damage to property, resulting from any act Page 2 of 9 or occurrence arising out of Consultant's operations in the performance of this Agreement, including, without limitation, acts involving vehicles. The amounts of insurance shall be not less than the following: single limit coverage applying to bodily and personal injury, including death resulting therefrom, and property damage, in the total amount of $1,000,000 per occurrence, with $2,000,000 in the aggregate. Such insurance shall (a) name the Successor Agency, its officers, employees, agents, volunteers and representatives as additional insured(s); (b) be primary and not contributory with respect to insurance or self-insurance programs maintained by the Successor Agency; and (c) contain standard separation of insureds provisions. b. Business automobile liability insurance, or equivalent form, with a combined single limit of not less than $1,000,000 per occurrence. Such insurance shall include coverage for owned, hired and non -owned automobiles. C. Worker's Compensation Insurance. In accordance with the provisions of Section 3700 of the Labor Code, Consultant, if Consultant has any employees, is required to be insured against liability for worker's compensation or to undertake self- insurance. Prior to commencing the performance of the work under this Agreement, Consultant agrees to obtain and maintain any employer's liability insurance with limits not less than $1,000,000 per accident. d. If Consultant is or employees a licensed professional such as an architect or engineer: Professional liability (errors and omissions) insurance, with a combined single limit of not less than $1,000,000 per claim with $2,000,000 in the aggregate. e. The following requirements apply to the insurance to be provided by Consultant pursuant to this section: (i) Consultant shall maintain all insurance required above in full force and effect for the entire period covered by this Agreement. (ii) Certificates of insurance shall be furnished to the Successor Agency upon execution of this Agreement and shall be approved in form by the Successor Agency Counsel. (iii) Certificates and policies shall state that the policies shall not be canceled or reduced in coverage or changed in any other material aspect without thirty (30) days prior written notice to the Successor Agency. (iv) Where the amounts or coverage provided by the certificates of insurance provides coverage greater than those listed by this Agreement, the amounts provided by the certificates of insurance shall be incorporated by reference into the Agreement. (v) Consultant shall supply Successor Agency with a fully executed additional insured endorsement. Page 3 of 9 f. If Consultant fails or refuses to produce or maintain the insurance required by this section or fails or refuses to furnish the Successor Agency with required proof that insurance has been procured and is in force and paid for, the Successor Agency shall have the right, at the Successor Agency's election, to forthwith terminate this Agreement. Such termination shall not effect Consultant's right to be paid for its time and materials expended prior to notification of termination. Consultant waives the right to receive compensation and agrees to indemnify the Successor Agency for any work performed prior to approval of insurance by the Successor Agency. 7. INDEMNIFICATION Consultant agrees to defend, and shall indemnify and hold harmless the Successor Agency, its officers, agents, employees, consultants, special counsel, and representatives from liability: (1) for personal injury, damages, just compensation, restitution, judicial or equitable relief arising out of claims for personal injury, including death, and claims for property damage, which may arise from the negligent operations of the Consultant, its subcontractors, agents, employees, or other persons acting on its behalf which relates to the services described in Section 1 of this Agreement; and (2) from any claim that personal injury, damages, just compensation, restitution, judicial or equitable relief is due by reason of the terms of or effects arising from this Agreement. This indemnity and hold harmless agreement applies to all claims for damages, just compensation, restitution, judicial or equitable relief suffered, or alleged to have been suffered, by reason of the events referred to in this Section or by reason of the terms of, or effects, arising from this Agreement. The Consultant further agrees to indemnify, hold harmless, and pay all costs for the defense of the Successor Agency, including fees and costs for special counsel to be selected by the Successor Agency, regarding any action by a third party challenging the validity of this Agreement, or asserting that personal injury, damages, just compensation, restitution, judicial or equitable relief due to personal or property rights arises by reason of the terms of, or effects arising from this Agreement. Successor Agency may make all reasonable decisions with respect to its representation in any legal proceeding. Notwithstanding the foregoing, to the extent Consultant's services are subject to Civil Code Section 2782.8, the above indemnity shall be limited, to the extent required by Civil Code Section 2782,8, to claims that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the Consultant 8. INTELLECTUAL PROPERTY INDEMNIFICATION Consultant shall defend and indemnify the Successor Agency, its officers, agents, representatives, and employees against any and all liability, including costs, for infringement of any United States' letters patent, trademark, or copyright infringement, including costs, contained in the work product or documents provided by Consultant to the Successor Agency pursuant to this Agreement, 9. RECORDS Consultant shall keep records and invoices in connection with the work to be performed under this Agreement. Consultant shall maintain complete and accurate records with respect to the costs incurred under this Agreement and any services, expenditures, and disbursements charged to the Successor Agency for a minimum period of three (3) years, or for any longer Page 4 of 9 period required by law, from the date of final payment to Consultant under this Agreement. All such records and invoices shall be clearly identifiable. Consultant shall allow a representative of the Successor Agency to examine, audit, and make transcripts or copies of such records and any other documents created pursuant to this Agreement during regular business hours, Consultant shall allow inspection of all work, data, documents, proceedings, and activities related to this Agreement for a period of three (3) years from the date of final payment to Consultant under this Agreement. 10. CONFIDENTIALITY If Consultant receives from the Successor Agency information which due to the nature of such information is reasonably understood to be confidential and/or proprietary, Consultant agrees that it shall not use or disclose such information except in the performance of this Agreement, and further agrees to exercise the same degree of care it uses to protect its own information of like importance, but in no event less than reasonable care. "Confidential Information" shall include all nonpublic information. Confidential information includes not only written information, but also information transferred orally, visually, electronically, or by other means. Confidential information disclosed to either party by any subsidiary and/or agent of the other party is covered by this Agreement. The foregoing obligations of non-use and nondisclosure shall not apply to any information that (a) has been disclosed in publicly available sources; (b) is, through no fault of the Consultant disclosed in a publicly available source; (c) is in rightful possession of the Consultant without an obligation of confidentiality; (d) is required to be disclosed by operation of law; or (e) is independently developed by the Consultant without reference to information disclosed by the Successor Agency. 11. CONFLICT OF INTEREST CLAUSE Consultant covenants that it presently has no interests and shall not have interests, direct or indirect, which would conflict in any manner with performance of services specified under this Agreement. 12. NON-DISCRIMINATION Consultant shall not discriminate because of race, color, creed, religion, sex, marital status, sexual orientation, age, national origin, ancestry, or disability, as defined and prohibited by applicable law, in the recruitment, selection, training, utilization, promotion, termination or other employment related activities or in connection with any activities under this Agreement. Consultant affirms that it is an equal opportunity employer and shall comply with all applicable federal, state and local laws and regulations. 13. EXCLUSIVITY AND AMENDMENT This Agreement represents the complete and exclusive statement between the Successor Agency and Consultant, and supersedes any and all other agreements, oral or written, between the parties. In the event of a conflict between the terms of this Agreement and any attachments hereto, the terms of this Agreement shall prevail. This Agreement may not be modified except by written instrument signed by the Successor Agency and by an authorized representative of Page 5 of 9 Consultant. The parties agree that any terms or conditions of any purchase order or other instrument that are inconsistent with, or in addition to, the terms and conditions hereof, shall not bind or obligate Consultant nor the Successor Agency. Each party to this Agreement acknowledges that no representations, inducements, promises or agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied herein. 14. ASSIGNMENT Inasmuch as this Agreement is intended to secure the specialized services of Consultant, Consultant may not assign, transfer, delegate, or subcontract any interest herein without the prior written consent of the Successor Agency and any such assignment, transfer, delegation or subcontract without the Successor Agency's prior written consent shall be considered null and void. Nothing in this Agreement shall be construed to limit the Successor Agency's ability to have any of the services which are the subject to this Agreement performed by Successor Agency personnel or by other consultants retained by Successor Agency. 15. TERMINATION This Agreement may be terminated by the Successor Agency upon thirty (30) days written notice of termination. In such event, Consultant shall be entitled to receive and the Successor Agency shall pay Consultant compensation for all services performed by Consultant prior to receipt of such notice of termination, subject to the following conditions: a. As a condition of such payment, the City Manager or designee may require Consultant to deliver to the Successor Agency all work product(s) completed as of such date, and in such case such work product shall be the property of the Successor Agency unless prohibited by law, and Consultant consents to the Successor Agency's use thereof for such purposes as the Successor Agency deems appropriate. b. Payment need not be made for work which fails to meet the standard of performance specified in the Recitals of this Agreement. 16. WAIVER No waiver of a breach, failure of any condition, or any right or remedy contained in or granted by the provisions of this Agreement shall be effective unless it is in writing and signed by the party waiving the breach, failure, right, or remedy. No waiver of any breach, failure, right, or remedy shall be deemed a waiver of any other breach, failure, right, or remedy, whether or not similar, nor shall any waiver constitute a continuing waiver unless the writing so specifies. 17. JURISDICTION - VENUE This Agreement has been executed and delivered in the State of California and the validity, interpretation, performance, and enforcement of any of the clauses of this Agreement shall be determined and governed by the laws of the State of California. Both parties further Page 6 of 9 agree that Orange County, California, shall be the venue for any action or proceeding that may be brought or arise out of, in connection with or by reason of this Agreement. 18. PROFESSIONAL LICENSES Consultant shall, throughout the term of this Agreement, maintain all necessary licenses, permits, approvals, waivers, and exemptions necessary for the provision of the services hereunder and required by the laws and regulations of the United States, the State of California, the City of Santa Ana and all other governmental agencies. Consultant shall notify the Successor Agency immediately and in writing of its inability to obtain or maintain such permits, licenses, approvals, waivers, and exemptions. Said inability shall be cause for termination of this Agreement. 19. NOTICE Any notice, tender, demand, delivery, or other communication pursuant to this Agreement shall be in writing and shall be deemed to be properly given if delivered in person or mailed by first class or certified mail, postage prepaid, or sent by facsimile or other telegraphic communication in the manner provided in this Section, to the following persons: To Successor Agency: Community Development Agency City of Santa Ana 20 Civic Center Plaza (M-25) P.O. Box 1988 Santa Ana, CA 92702-1988 Facsimile (714) 647-6549 With courtesy copy to: City Attorney's Office City of Santa Ana 20 Civic Center Plaza (M-29) P.O. Box 1988 Santa Ana, California 92702 Facsimile (714) 647-6515 To Consultant: Valbridge Property Advisors 1370 N. Brea Boulevard, Suite 255 Fullerton, CA 92835 Facsimile: (714) 738-4371 Attn: John D. Penner, MAI A party may change its address by giving notice in writing to the other party. Thereafter, any communication shall be addressed and transmitted to the new address. If sent by mail, communication shall be effective or deemed to have been given three (3) days after it has been deposited in the United States mail, duly registered or certified, with postage prepaid, and addressed as set forth above. If sent by facsimile, communication shall be effective or deemed to have been given twenty-four (24) hours after the time set forth on the transmission report issued Page 7 of 9 by the transmitting facsimile machine, addressed as set forth above. For purposes of calculating these time frames, weekends, federal, state, County or City holidays shall be excluded. 20. MISCELLANEOUS PROVISIONS a. Each undersigned represents and warrants that its signature herein below has the power, authority and right to bind their respective parties to each of the terms of this Agreement, and shall indemnify Successor Agency fully, including reasonable costs and attorney's fees, for any injuries or damages to Successor Agency in the event that such authority or power is not, in fact, held by the signatory or is withdrawn. b. All Exhibits referenced herein and attached hereto shall be incorporated as if fully set forth in the body of this Agreement. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the date and year first above written. ATTEST: DaisyL�Gomez �, /i Clerk of the Council APPROVED FORMI: 1 Sonia R. Carvalho City Attorney By: _ /aL Ryan O. H dg Assistant"City Vomey RECOMMENDED FOR APPROVAL: - 7zn/� Steven A. Mendoza Executive Director Community Development Agency SUCCESSOR AGENCY OF THE FORMER COMMUNITY REDEVELOPMENT AGENCY Kristine Ridge City Manager Valbridge Property Advisors JOHN D. PENNER, MAI Senior Managing Director TAX ID: 90-0843144 Page 8 of 9 The team of appraisers at Valbridge Property Advisors I Orange County provides independent property valuation and consulting services. Investing in real estate demands a high level of trust, which is established by honest, objective analysis with a commitment to quality and service. We believe successful investing is the direct result of comprehensive research enhanced by knowledgeable and insightful analysis. Our clients benefit from the collective strength of Valbridge Property Advisors, which is the largest independent commercial appraisal firm in the U.S. with over 74 offices nationwide. COMPREHENSIVE VALUATION AND ADVISORY SERVICES Valbridge Property Advisors I Orange County specializes in appraising all types of real estate. We produce client -tailored, consistent appraisal reports across the U.S. market for: • Office and Medical buildings Industrial buildings Shopping Centers Vacant Land • Apartments, multifamily, senior living buildings • Hotel, lodging, hospitality, recreational buildings • Special-purpose buildings SPECIALTY SERVICES • Fractional interest valuation for gifting and IRS purposes • Eminent domain, right-of-way, and easement valuation Litigation support and expert witness testimony Portfolio valuation Investment consultation and prospectus Real estate market and feasibility analysis, including rent and demand studies • Site analysis and selection • Real Property Due diligence • Property and lease comparables, fair market rent analysis • Expense analysis, Penner Expense Guide publication • REO and foreclosure evaluation • Property valuation for estate planning, insurance, and trusteeship • Business and partnership valuation and advisory services, including fractional interests JOHN D. PENNER, MAI SENIOR MANAGING DIRECTOR John Penner has over 35 years of experience in appraisal and consulting services for all types of properties, specializing in medical office, industrial, retail, fractional interest, and eminent domain. In addition, he publishes the widely cited Penner Expense Guide. Mr. Penner has qualified as an expert witness in bankruptcy and superior court for both Orange and Los Angeles Counties. He is a member of the Appraisal Institute with an MAI Designation and a Certificate in Litigation; and was the 2016 Southern CA Appraisal Institute Volunteer of Distinction. Mr. Penner also holds a certificate in RE Development from the Urban Land Institute, is President Elect of Lambda Alpha International, and was a founding Board Member of Valbridge Property Advisors. EXHIBIT A Qualifications of John D. Penner, MAI Senior Managing Director Independent Valuations for a Variable World State Certifications Certified General Appraiser State of California (AG001720) Education B.S. - Business Administration Finance & Investments San Diego State University Publications - Author Penner Expense Guides: Low Rise & Medical Office Business Parks & Single Tenant Industrial Strip Retail Centers Qualified Expert Witness: Bankruptcy & Superior Court Cash Flow Forecast: ARGUS Contact Details 714-449-0852 (Office) Valbridge Property Advisors 1370 N. Brea Blvd., Suite 255 Fullerton, CA 92835 jpenner@valbridge.com www.valbrid eq com Valbridge Property Advisors is the largest Appraisal Company in the United States with 74 offices nationwide. Membership/Affiliations: Member: Appraisal Institute — MAI Designation & Certification in Litigation Chair: Appraisal Institute — Southern California Chapter — Southern Branch & Advisor/Candidate Program (2012) Member: Urban Land Institute —Certificate in RE Development Member: Lambda Alpha International — Land Economics Society Founding Board of Directors Member — Valbridge Property Advisors Experience: SENIOR MANAGING DIRECTOR/OWNER, 1991-Present This firm performs valuation and advising for commercial real estate with a specialty in medical office, and industrial properties. Mr. Penner has over 30 years of experience in the Southern California region and has completed assignments in many areas of the United States. SENIOR APPRAISER. T.L. YATES&ASSOCIATES, 1990-1991. Work included narrative appraisals of proposed, existing and problem properties located in the markets of Southern California and Arizona. SENIOR APPRAISER/ANALYST.• HOME SAVINGS OF AMEwcA, 198.3- 7990. Work included valuation of residential and commercial properties located throughout Southern California, parts of Northern California, Arizona, Texas, Florida and New York. Specific responsibilities included the appraisal of problem properties, market studies, feasibility, and portfolio analysis. Scope of Work: Work includes the appraisal and/or consultation of reports for acquisition, sale, refinance, estate, development, condemnation, fractional interest and court testimony purposes. Typical clients served are financial institutions, investors, developers, legal firms, and governmental. Types of properties appraised include: High and Low Rise Office Medical & Dental Offices Corporate Headquarters Office Condominiums Regional Shopping Malls Neighborhood Centers Strip Retail Centers Restaurants Mixed Use Bank Branches Vacant Land Market Studies Manufacturing Facilities Warehouses R&D Buildings Business Parks Mini -Warehouse Multi -Tenant Industrial Master Planned Communities Subdivisions Apartment Projects Single Family EXHIBIT A Staff Appraisers Eric Day, MBA Eric Day is a senior appraiser with Valbridge Property Advisors, having joined the firm in 2011. Eric is a Certified General Appraiser for the State of California and has experience in specialty appraisals including: investment property, medical, development, condemnation, litigation support, and fractional interests. Prior to Valbridge, Eric was a real estate broker with T.L. C&P Real Estate and Investments. As a broker, Eric owned & operated a brokerage firm specializing in commercial, residential, industrial and investment real estate, including Real Estate Appraisals, Property Management, Commercial & Residential Property Evaluations, Land, and Vacant Land Acquisitions. Prior to working in real estate, Eric spent 15 years as a Financial Planning Manager for The Boeing Company. He is a Licensed Real Estate Broker in the State of California and is a member of the National Association of Realtors. • M.B.A. Business Administration, University of Southern California B.A. Business Administration and Finance, Cal State University Fullerton John Cougnet, MBA John Cougnet is a senior appraiser with Valbridge Property Advisors, having joined the firm in 2012. John is a Certified General Appraiser for the State of California with extensive experience in appraising medical, office, industrial, and retail properties. He has also completed many condemnation assignments and specialty use properties such as a 1.2 million square foot aircraft manufacturing facility with 60 foot high doors. Prior to working for Valbridge, John was a Manager for the Admissions & Rides Revenue Management at Walt Disney Corporation where he was responsible for budgeting, analyzing, reporting, and forecasting nearly $500M in revenues and 9M units sold. Prior to Disney, John worked for Isuzu Motors in finance. • M.B.A. Business Administration, California State University Fullerton • B.S. Business Administration and Finance, University of Arizona EXHIBIT A Staff Analysts John Penner Jr. John Penner Jr. has worked for Valbridge Property Advisors for 4 years and is a seasoned real estate analyst. He has performed appraisals on a variety of property types, including portfolio assignments, and has completed all coursework for a Certified General License. John's academic background provides broad experience in writing, research design, data analysis, and statistical methodology/programming. He has two academic journal publications and has performed internal research and presentations for Valbridge's corporate businesses development. John has an undergraduate degree in psychology and music composition and a master's degree in clinical psychology, pending thesis completion. Prior to his work at Valbridge, John has worked as a Research Assistant, Therapist, Content Writer, and Tutor. In his personal time, John is an avid investor in Bitcoin and a student of the financial markets. • B.S. Music Composition and Psychology, Point Loma Nazarene University Magna Cum Laude Graduate, Psi Chi • M.S. Clinical Psychology, California State University Fullerton (Pending) Marcus Perez Marcus Perez has worked for Valbridge Property Advisors for over 2 years as a Real Estate Analyst. He has completed multiple appraisal assignments and is skilled at data searches, narrative support, analysis of income and expenses, and is familiar with every facet of the appraisal process. Marcus graduated from CSU Fullerton with a dual degree in Finance and Accounting. He is presently attending the University of San Diego in pursuit of a Master's in Real Estate Degree, which includes most of the required courses for the MAI designation. He has completed all courses toward a Certified General License and is currently a licensed real estate agent. Marcus's work experience includes various full-time roles in the mortgage industry while completing his degree and serving his country as a U.S. Navy Shipboard Firefighter. • M.S. Real Estate, University of San Diego (Candidate) • B.A. Accounting and Finance, California State University Fullerton Cum Laude Graduate, Beta Gamma Sigma, Golden Key Society • A.S. Real Estate Appraisal, Saddleback College Summa Cum Laude Graduate • A.A. Business Central, New Mexico College EXHIBIT A Selected Assignments: Orange County Office ■ Aircraft Manufacturing Facility — 1,600,000+ square foot hanger and manufacturing facility. ■ Mark IV Capital Building - 20,389 square foot Leed Platinum Certified Green Headquarter Building ■ Innovation Institute Growth Fund - Ongoing valuation and consultation for a $200,000,000 medical office fund ■ Brookhurst Place Apartments —180 unit New Construction Mid -Rise Luxury Apartments ■ Headquarters of American Savings - 272,574 square foot Office Complex ■ The Original Pantry Cafe - 7,948 square foot Historic Restaurant in downtown Los Angeles Trico ■ Savi Business Park - 247,095 square foot Multi -Tenant Industrial ■ Parkard Hughes Interconnect - 157,458 square foot R&D Facility ■ Santa Ana And San Diego US District Federal Courthouses — Market Rent Study ■ Cinemapolis - 58,571 square foot Multi-Plex Movie Theater ■ Polo Plaza - 52,146 square foot Office/Retail ■ Frome Alpha Portfolio — 1,000,000 square foot portfolio of 15 multi -tenant industrial properties ■ Hoag Health Center - 29,036 square foot Medical Office ■ Union Bank Building 157,662 square foot High -Rise Office ■ Val Mesa Medical Building - 72,075 square foot Medical office adjacent to St. Jude Hospital UCI ■ Medical Center - Market Rent Analysis ■ US Postal Service — Appraisals and Rental Analysis National Contract ■ City of Anahiem — Katella Smart Street Widening ■ Cities of Industry, El Monte, & Pico Rivera — Grade Separation Project Proprietary In -House Databases ■ Fractional Interest Discount Sales — National Database of 60+ sales of partial interests in real estate and corresponding discount rates. ■ Cell Tower Leases — 20+ Southern California Cell Tower Leases ■ Medical Office — Surgery Center and Imaging Centers in Southern California ■ Office, Medical, Industrial, and Retail Expense Guides ■ Regional, City, and Market Information - Southern California EXHIBIT A Selected Clients: Ora Life Insurance Companies Financial Institutions e County Office Sun Life of Canada Genworth North American Corp. Voya Investment Management American Equity Investment Life Aviva Life and Annuity Company AEGON Life Insurance Company JPMorgan Chase Bank Pacific Western Bank Farmers & Merchants Bank Manufacturers Bank East West Bank Wilshire Finance Partners Investors TRICO Realty Company Frome Investments Davis Partners Shamrock Capital Advisors TDA Investment Group Healthcare Property Advisors Governmental Paragon Partners Ltd. Pomona Educational Foundation City of Industry City of Santa Clarita Epic Land Solutions, Inc. Law Firms Tredway, Lumsdaine & Doyle, LLP Paul, Hastings, Janofsky & Walker Allen, Matkins, Leck, Gamble & Mallory Gibson, Dunn & Crutcher Burke, Williams & Sorenson EXHIBIT A Penner Expense Guide The Penner Expense Guide is a widely cited biennial publication in Southern California, which contains data from a survey of actual expenses at 10 comparable projects. These Expense Guideline Reports for industrial, office, medical office, & retail give actual data from the local Southern California market in an easy to read format. Per square foot descriptive statistics are given for each expense category such as utilities, insurance, janitorial, repairs & maintenance, etc. \ Ar �' \ �'' \ ' • ■r rat\ \\\� \.i(•i:•;•. r o % \ , IN It itItValbridge PROPERTY ADVISORS * \ ■ ` A \ \ rr \ `4r r r It ' , r , \ Ckange Cwnry Office r \ al1370n ` \ 911"B.maoJ Suite 255 ` \ r `, \ n4-73"3711. \ \ r \ ` • \ ■ ` rIt \ lk \ ` at ' ` Low -Rise Office r I,� & Medical Office want 2018 r� r PENNER '•\ .r' `•\ EXPENSE GUIDE Discussions with local appraisal reviewers indicate our guides are cited in as many as 50% of the appraisals they review in Southern California! EXHIBIT A Valbridge PROPERTY ADVISORS COMPANY INFORMATION • Valbridge is the largest independent national real estate valuation and advisory services firm in North America. o Total number of MAI-designated appraisers (200+ on staff) o Total number of office locations (70+ across U.S.) o Total number of staff (675+ strong) • Valbridge covers the entire U.S. from coast to coast. • Valbridge services all property types, including special-purpose properties and residential. • Valbridge provides independent valuation services. We are not owned by a brokerage firm or investment company. • Every Valbridge office is led by a senior managing director who holds the MAI designation of the Appraisal Institute. • Valbridge is owned by our local office leaders. • Valbridge welcomes single -property assignments as well as portfolio, multi -market and other bulk -property engagements. ALABAMA FLORIDA MASSACHUSETTS OHIO TEXAS(conl 4732 Woodmere Boulevard 2240 Venetian Court 260 Bear Hill Road 1655 W. Market Street 974 Campbell Road Montgomery, AL 36106 Naples, FL 34109 Suite 106 Suite t30 Suite 204 334.277.5077 239,514.4646 Waltham MA 02451 Akron, OH 44313 Houston, TX 77024 781.790.5645 330.899.9900 713467.5858 200 Cahaba Park Circle Almeria Avenue, Suminghite Suit. Suite 350 MICHIGAN 8291 Beechmont Ave, 2731 Brat Street Birmingham, AL 35242 Coral Gables, FL 33134 1420 Washington Blvd, Suite B Lubbock, TX 79423 2044 5.0.2998 305.639.8029 Suite 301 Cincinnati, OH 45255 806.744.7788 ARIZONA 10950 San Jose Boulevartl Detract, MI48226 313.98EM13. 513.785.OB20 9901 IH-0D West Jacksonville, FL 32223 1422 Euclid Avenue Suite 1035 6061 E. Grant Road Suite 121 844.822.7825 2127 University Pans Drive Suite 616 San Antonio, TX 78230 Suite 390 Cleveland, OH 44115 210,227.6229 Tucson, AZ 85712 520,321.0000 734 Rugby Street Okemas, MI 48864 OkemosD001 216.367.9690 Orlando, FL 32804 OKLAHOMA UTAH CALIFORNIA 844.822.7825 MINNESOTA 5909 NW Expressway 260 South 2500 West 2601 W Horatio Street Suite 104 Suite 301 4915 Callaway Drive Unit 6 222 South 9th Street Oklahoma City, OK 73132 Pleasant Grove, UT 84052 Suite 101 Tampa, FL 33609 Suite 825 405.603.1553 801.492S328 Bakersfield, CA 93312 844.822.7825 Minneapolis, MN 55402 1100 East WOO South 661.5871010 512.253.0650 6666 South Shandan Road Suite 201 2711 Poinsettia Avenue Suite 104 Salt Lake City, UT 04121 1370 N. Brea Boulevard West Palm Beach, FL 33407 275 East 4th Street, Tulsa, OK 74133 801,262.3388 Suite 255 561.833.5331 Suite 325 518.712.8882 Fullerton, CA 92835 St. Paul, MN 55101 20 North Main 714A49.0852 GEORGIA 651.983.2408 PENNSYLVANIA Suite 304 2813 Coffee Road 2675 Paces Ferry Road MISSISSIPPI 150 S. Warner Road St. George, UT 84770 435.773.6300 Suite E-2 Suite 145 Suite "0 Modesto, CA 95355 Atlanta, GA 30339 1010 Ford Street Kin of Prussia, PA 194M 9 VIRGINIA 209.569.0450 678.644.4853 Gulfport, MS 39507 215.545.1900 99 S. Lake Avenue 228.604.1900 656 Independence Parkway IDAHO 4701 Baptist Road Suite 220 Suds Suite 304 Chesapeake, VA 23320 Pasadea na, CA 91101 1459 Tyrell Lane 737 Highway 51 Pittsburgh, PA 15227 757.410.1222 626.744.0428 Suite B Suite 1 C 412S81.6080 Boise, ID 83706 Madison, MS 39110 4914 Fibmi Ir Avenue 3090 Fite Circle 208.3W.1097 601.853.0736 Suite 102 Suite 202 SOUTH CAROLINA Richmond, VA 23230 Sacramento, CA 95827 1875 N. Lakewood Drive MISSOURI 757-345-0010 916.361.2509 Suite 100 11 Cleveland Court 55 South Market Street Coeur d'Alene, ID 83814 10990 Quivira Road Greenville, SC 29607 8642336277 5107 Center Street Suite 208.292.2965 Suite IDO Unit 2B San Jose,CA Overland913.451, Park, KS 66210 920 Bay Street Williamsburg, VA 23188 2095113 408.279.1520 ILLINOIS 913.451.1451 Suite 26 757.345.0010 Beaufort, SC 29902 3160 Crow Canyon Place 566 W Lake Street NEVADA 843.34Z2302 WASHINGTON Suite 245 Suite 240 San Ramon, CA94583 Chicago, I160661 WM S. Durango Drive 1250 Fairmont Avenue 18728 Bothell Way, NE 925.327.1660 312.288.8687 Suite 100 Mt. Pleasant, SC 29464Suite Las Vegas, NV 89117 843.881.1266 Bothell. WA 98011 COLORADO INDIANA 702.242.9369 425.450.OD40 7445 E. Peakview Avenue 820 Fart Wayne Avenue 6490 S McCarron Blvd TENNESSEE 2927 Colby Avenue Centennial, CO 80111 Indianapolis, IN 46204 #51 Suite 100 303.443.9600 317.687.2747 Reno, NV 89509 5205 Maryland Way Everett WA 98201 775204.4100 Suite 300 425.258.2611 5345Arapahce Avenue KANSAS Brentwood, TN 37027 Suite NEWJERSEY 615.369.0670 419 Berkeley Avenue Boulder, CO 80303 10990 Quivira Road Suite A 303.443.9600 Sute 100 2740 Route 10 West, Suite 204 701 Bri Steel Fircrest, WA 98465 Overland Park, KS 66210 Moms Plains, NJ 07950 Suite 209 253.274.0099 23272 Two Rivers Road 913451.1451 973,970,9333 Chattanooga, TN 37402 Unit 101 423,285,8435 8378 W. Grandridge Boulevard Basal, 81621 KENTUCKY 3500 Route 9 South, Suite 202 Suite 110-D AI 970.340.1016 Howell, NJ 07731 213 Fox Road Kennewick, WA 99336 9000 Wessex Place 732,807.3113 Knoxville, TN 37922 509.221.1540 Suite 306 865.522.2424 1099 Main Avenue Louisville, KY 40222 NEW YORK 506 Second Avenue Suite 311 502.585.3651 756 Ridge Lake Blvd Suite 1001 Durango, CO 81301 424 West 33rtl Street Suite 225 Seattle, WA 98104 970.340.1076 LOUISIANA Suite 630 Memphis, TN 38120 206.209.3016 New York, NY 10001 901.753.6977 CONNECTICUT 20M Dickory Avenue 212,268,1113 324 N. Mullen Road Suite 200 TEXAS Spokane Valley, WA 99206 tS Concord Street New Orleans, LA 70123 NORTH CAROLINA 509]47.0999 Glastonbury CT 06033 High Point Center 860.246.4606 504.541510U 412 E. Chatham Steel 12225 Greenville Avenue WISCONSIN 17 Covewood Drive MARYLAND Cary, NC 27511 919,13591666 Suite 490 Dallas, TX 75243 12650 W. North Avenue Norwalk, 06853 11100 Dovedue Court 214446.1611 Brookfield, WI 53005 203286.6520 Marnottsville, MD 211N 59W Fairview Road, Suite 405 262,782.7990 443,333,5522 Charlotte, NC 28210 704.376.5400 EXHIBIT A Gorospe, Susan From: John Penner <jpen ner@valbridge.com> Sent: Monday, September 16, 2019 3:23 PM To: Gorospe, Susan Subject: RE: Estimate for Appraisal Services Attachments: Valbridge OC Office Overview.pdf Ms. Gorospe, Our fee quote for an appraisal of the parking lot parcel on the southwest corner of 3rd Street and Main Street in the City of Santa Ana is $4,000 with a 2 to 3 week turnaround time. It is noted that the site is encumbered by a permanent parking easement with the building at 200 N. Main Street, Santa Ana. Feel free to call or email if you have any questions or comments. Attached is a qualifications package for my office. Val bridge PXWWY AMM John D. Penner, MAI Senior Managing Director Valbridge Property Advisors I Orange County 1370 N Brea Boulevard, Suite 255 Fullerton, California 92835 Office: 714.449.0852 00© National Coverage. Local Knowledge. Valuation Independence. From: Gorospe, Susan [mailto:SGorospe@santa-ana.org] Sent: Wednesday, September 11, 2019 4:42 PM To: John Penner Subject: Estimate for Appraisal Services Hi John, It was great to speak to you. Per our conversation, we would like to get an estimate on appraisal services for a parcel that the former Santa Ana Redevelopment Agency owns. You last provided services for a few other parcels a few years ago via Paragon Partners, but we'd like to enter into a direct agreement this time around. Here's some background information on the property: APN 398-601-02 No street address, but located at the southwest corner of Main Street & 3rd Street, Santa Ana EXHIBIT A • The current use is a parking lot of 60 spaces that is restricted by a Parking Space Agreement with the adjacent property owner (APN 398-601-03) • The west portion of the property provides access to the loft owners of APN 398-601-04 to their garages. Please advise if you are able to provide an estimate. Thank you. TaxMap_398-601-02.pdf - Adobe Acrobat Pro file JEdit Yew y[indow Yelp Nx Nx ')-7 11.69 x&M in THIRD TRACT° PRO�ECr 937-83- �': 370-385 L07 4 _ W ry (D 601 0 0.541 AC. 0.639 AC. H COT TOWN OF SECOND STREET Susan Gorospe ( Principal Management Analyst Community Development Agency 120 Civic Center Plaza, M-25 ( Santa Ana, CA 92701 Direct: 714-647-5376 ( sgorospe@santa-ana.org Grryd.e're?�J RE -Sul TRAC T (61 2