HomeMy WebLinkAboutAdden 1DocuSign Envelope ID: D1646EFO-9A34-45F6-85FB-8OF8bA4E93E1
cti Y 4
AMENDMENT NO. 1 TO AGREEMENT FOR APPRAISAL AND
MARKET RENT FOR SELECTED PROPERTIES ON RENTON
MUNICIPAL AIRPORT (CAG-19-0 5)
THIS AMENDMENT, dated for reference purposes only as March 5, 2020, is by and between the
City of Renton (the "City"), a Washington municipal corporation, and Bruce C. Allen & Associates,
Inc. dba ABS Valuation fka Valbridge Property Advisors (the "Consultant"), a Washington
corporation. The City and the Consultant are referred to collectively in this Amendment as the
"Parties," Once fully executed by the Parties, this Amendment is effective as of the last date
signed by both parties.
Whereas, the City engaged the services of the Consultant under Agreement CAG-19-065 (the
"Agreement"), dated February 25, 2019, to provide necessary services for the appraisal and
determination of market rent for selected properties on the Renton Municipal Airport;
Whereas, per the Agreement, the Consultant produced an Appraisal Report dated May 29, 2019
(the "Appraisal Report");
Whereas, the Parties wish to amend the Agreement to change the time for performance, expand
the scope of work, and increase compensation in order to respond to Airport tenant Boeing
Employees Flying Association's (BEFA's) challenge of the Appraisal Report as it applies to the
property leased by BEFA under lease LAG-001-87.
NOW THEREFORE, It is mutually agreed upon that the Agreement is amended as follows:
1. Scope of Work: Section 1, Scope of Work, is amended to add the following to the defined
term ."Work:" The Consultant shall serve as the City's arbitrator in response to BEFA's
challenge of the Appraisal Report as it applies to the property leased by BEFA. A copy of
BEFA's challenge letter is attached for reference as Exhibit 1-A.
2. Time of Performance: Section 3, Time of Performance, is amended such that all Work
shall be performed by no later than July 1, 2020.
3. Compensation: Section 4.A, Compensation: Amount, is amended such that the maximum
amount of compensation payable to the Consultant is increased by $10,000 (from
$21,900 to $31,900), plus any applicable state and local sales taxes. The additional
DocuSign Envelope ID: D1646EF0-9A34-45F6-85FB-80F88A4E93E1
compensation shall be paid based upon Work actually performed according to the rates)
or amounts specified in attached Exhibit 1-B (ABS Valuation — 2019 Rate Sheet).
4. All terms of the Agreement not explicitly modified herein shall remain in full force and
effect, and such terms shall apply to Work performed according to this Amendment as if
fully set forth herein.
IN WITNESS WHEREOF, the Parties have voluntarily entered into this Amendment.
CITY OF RENTON
DocuSigned by:
yRon Straka
Ron stra a
Acting Public Works Administrator
4/8/2020 1 7:55 AM PDT
Date
Approved as to Legal Form
By:
Shane Moloney
City Attorney
Contract Template Updated 01-15-2020
CONSULTANT
By: -
S. Murray Brackett, MAI
ABS Valuation
Date
DocuSign Envelope ID: D1646EF0-9A34-45F6-85FB-84F88A4E93E1
January 20, 2020
Harry Barrett, Jr.
Airport Manager
Renton, WA 98055
and
Renton Municipal Airport
616 West Perimeter Road, Unit A
Renton, WA 98057
RE: Adjusted lease rate
Dear Harry,
FW-TC-EIVECY
4 2020
City of Renton
_ Alt Pffice
The City of Renton ("City") prepared a draft I I1h addendum to the Lease between the City and Boeing
Employees' Flying Association ("BEFA") that included a provision adjusting the lease rate from $0.77
per square foot to $1.10 per square foot- The increase was based on an appraisal by Valbridge Property
Advisors dated May 29, 20I9.
After careful review of the Valbridgt! appraisal, BEFA is unable to agree to the $1.10 adjusted lease rate.
We understand that absent agreement on a lease rate, Paragraph 17 of the Lease requires that the City and
BEFA submit the matter to arbitration. The City and BEFA each are to select an arbitrator who is an
experienced real estate appraiser, knowledgeable in the field of comparable rentals, if the selected
arbitrators are unable to agree on an adjusted lease rate within 30 days of appointment, they are to appoint
a third arbitrator, and the three arbitrators have 60 days to determine the adjusted lease rate by majority
vote.
We wanted to advise you that BEFA has hired Patrick Lamb of Lamb Hanson Lamb as its arbitrator. We
look forward to learning the name of the City's arbitrator, once determined.
BEFA is hoping that the arbitration will be a cooperative and relatively quick process. While the
arbitrators do their work, we would like to finalize the draft addendum, except for the lease rate.
840 W. Perimeter Rd Renton, WA 98057 M/5 39-130 (425) 271-2332
DocuSlgn Envelope 10: 01646EFO-9A34-45F6-85FB-SOF88A4E93E1
a
We look.forward to, �_ ,a t y bemficial tong-ter.
l-ati6ns p between BE'A and the City cif Rend.
Bob Ingersoll
President
Boeing
Boeing Employees' Flying Association, Inc.
425-271-2332
cc: Gregg A. Zimmerman
Casey Boatman
Leslie Clark
Jason Anderson
Jim Seitz
Patrick Lamb
DacuSign Envelope ID: D1646EFO-9A34-45F6-85FB-80F88A4E93E1
EXHIBIT 1-R
I--111PIvyee
Title
Billing Rate
Murray Brackett
MAI
Principal
$350 to $375
Darin Shedd
MAI
Principal
$350 to $375
Robert Macaulay
MAI
Principal
$350 to $375
John Trueman
MAI/SRA
Sr. Assoc
$250
Bob Chamberlin (Indepdent Contractor)
State Cert General
Sr. Assoc
$250
Paul Bird
State Cert General
Sr. Assoc
$200
Jim Dodge
State Cert General
Sr. Assoc
$200
Kelly Hao
State Cert General
Sr_ Assoc
$200
Holly Heck
Appraiser Trainee
Associate
$150
Mary Hamel
Appraiser Trainee
Associate
$150
Christina Lovell
Appraiser Trainee
Associate
$150
Colleen Fewel
Appraiser Trainee
Associate
$110
Tim Lovell
Researcher
Research Assoc.
$90
Diane Smith
Researcher
Research Assoc.
$90
Kathi Parsons
Researcher
Research Assoc.
$90
Holly Warren, Kim Ring & Andrew Sarff
Administrative
$70-$90