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Page 1 of 2 <br /> <br />DATE: March 13, 2017 <br /> <br />TO: Honorable Mayor and City Councilmembers <br />William S. Joynes, Sr., City Administrator <br /> <br />FROM: Matthew Bachler, Senior Planner <br /> <br />SUBJECT: City Properties Appraisal Services Proposals <br /> <br />Budgeted Amount: Actual Amount: Funding Source: <br />$0 $18,000.00 General Fund <br />(Planning & Zoning) <br />Requested Action <br /> <br />Accept proposal from BRKW in the amount of $18,000.00 and authorize staff to enter into a <br />contract with BRKW to complete appraisal services for 1450 West Highway 96 and 1245 West <br />Highway 96. <br /> <br />Discussion <br /> <br />At the City Council Work Session on January 30, 2017, the City Council discussed the Option <br />Agreement to purchase the Civic property on TCAAP and potential funding sources for <br />development on the site. One of the funding sources discussed was the sale of the old City Hall <br />property at 1450 West Highway 96 and the current City Hall property at 1245 West Highway 96. <br />The City Council directed staff to have an appraisal completed so the City can better evaluate the <br />potential sale of the two properties. Staff contacted three appraisal firms and requested a quote <br />for the following scope of work: <br />• Property 1 – 1450 West Highway 96 <br />- Value of property developed for commercial uses <br />- Value of property for residential uses (including single-family residential, <br />townhomes, and multi-family) <br />• Property 2 – 1245 West Highway 96 <br />- Value of existing property as currently improved <br />- Value of property developed for commercial uses <br />- Value of property for residential uses (including single-family residential, <br />townhomes, and multi-family) <br />CONSENT ITEM – 5F <br /> MEMORANDUM <br />