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Community & Economic Development
1665
1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021
To: Redevelopment Commission
From: Matthew Sikora, Economic Development Planner
Subject: Professional Services Agreements — R.E. Pitts & Associates and David
VVaszak Appraisals, Inc.
Date: November 22, 2011
The attached Professional Services Agreements are proposals from R.E. Pitts & Associates
and David Waszak Appraisals, Inc. for conducting a disposition appraisal on property
owned by Honeywell, Inc. and adjacent to Bosch Braking Systems, Inc. (401 N. Bendix
Drive), property currently owned by the Redevelopment Commission and located in the
Airport Economic Development Area. These two individuals conducted earlier appraisals
on the Bosch campus earlier this year.
Staff requests approval of these Professional Services Agreements in the amounts of
$5800 and $4600 to allow for the appraisal of this property.
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R. E. PITTS & ASSOCIATES, INC.
Real Estate Appraisers - Consultants
Mr. Mathew Sikora, Economic Development Planner November 17, 2011
South Bend Department of Community & Economic Development
227 West Jefferson Blvd., Suite 1200S
South Bend, IN 46601 -1830
Re Appraisal Proposal: 401 N. Bendix Drive, South Bend, IN
(Parcel ID #18- 2040 -1387: former power plant /23.17 Acres + / -)
Dear Mr. Sikora:
Pursuant to your request, I hereby submit a proposal for appraisal services for the above referenced
subject property. The appraisal shall be prepared for and is for the use of the client and its
appropriate authorities and /or representatives. The purpose of the appraisal is to estimate the Market
Value of the Fee Simple Interest in the subject property "As -Is" and "As -If Vacant, Development
Ready Land ". In this assignment, the appraiser will consider all recognized approaches to value and
directly apply the most applicable approaches. The effective valuation date of the appraisal will be
the date of inspection of the property by the undersigned appraiser. The appraisal will be reported in
Summary Narrative format and will conform to the reporting requirements of Standards Rule 2 -2b
of the Uniform Standards of Professional Appraisal Practice (USPAP).
The completion date for the assignment is estimated to be within 30 days from acceptance of this
proposal and receipt of any relevant documentation needed for preparation of the reports in a timely
manner. I will furnish (2) original copies of the appraisal report. The total fee for this assignment
shall be $4,600 which will be invoiced and shall be due upon completion of the appraisal report.
Sincerely,
R.E. PITTS & ASSOCIATES, INC.
oz, W 67,5�
Rick Pitts, MAI
Indiana Certified General Appraiser, License #CG69100722
Engagement Letter Accepted:
Signature Date
Rick Pitts, MAI
50580 Woodbury Way - Granger, IN 46530
574 -272 -3224 - Fax: 574- 272 -3224
�`_.. MAI �9 PittsMAI @aol.com
00
DAVID WASZAK
APPRAISALS,
INC.
Dave Waszak, MAI
Indiana Certified General Appraiser
CG- 69100721
Michigan Certified General Appraiser
1200100836
November 9, 2011
Matthew Sikora
Economic Development Planner
South Bend, Indiana
Re: 401 N Bendix 1.) AS IMPROVED; 2.)AS CLEARED AND READY FOR DEVELOPMENT
South Bend IN 46628
Tax No. 018 - 2040 -1387
We are pleased to quote the following:
Price: $2900 EACH
Delivery: 3-4 weeks from engagement
Thank you for your consideration,
pa,4- -*4,ro#
Dave Waszak, MAI
P.O. Box 6373 South Bend, Indiana 46660
574 - 307 -0224
Niles, Michigan
269 -683 -8233
fax 269 - 683 -8233
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