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Memorandum
June 13, 2013
Investment
TO: South Bend Redevelopment Commission
FROM: David Relos, Economic Resources -
SUBJECT: Professional Services Agreement — R.E. Pitts & Associates
College Football Hall of Fame Property Tax Appeal
This staff report is for a Professional Services Agreement to have Rick Pitts, a MAI
Certified Indiana Appraiser, who in 2010 appraised the College Football Hall of Fame
(Hall), assist in the property tax appeal currently underway for this property.
In December 2012 a petition was filed with the Assessor's Office to review the 2012 pay
2013 assessed value of the Hall. The assessed value for tax purposes is $6,022,600.
In 2011 the Hall was taken through the disposition process with an average appraised
value of $2,687,500.
In May of this year we received notice the assessed value for the Hall was not changed.
We filed paperwork to appeal, and a hearing will be held before the Property Tax Board
of Appeals. To assist in this hearing, staff is requesting the services of Rick Pitts,
whose knowledge of the downtown market will be helpful in this endeavor.
The attached proposal is to review related documentation and attend the hearing, with
an hourly rate of $175 / hour.
Staff requests approval of this Professional Services Agreement in a not -to- exceed
amount of $1,750 (10 hours of work), to assist staff at this important meeting. Having
the Hall's assessed value be in line with its market value will assist in its eventual
disposition.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574- 235 -9021 1 SOUTHBENDIN.GOV
AN
R. E. PITTS & ASSOCIATES, INC.
Real Estate Appraisers • Consultants
Mr. Dave Relos
Economic Resources
227 West Jefferson Blvd., Suite 1400
South Bend, IN 46601
May 29, 2013
Re Real Estate Appraisal: Former Collegiate Football Hall of Fame museum facility, 1 I 1 S. St.
Joseph Street, South Bend, IN
Dear Mr. Relos:
I previously completed a real estate appraisal of the former Collegiate Football Hall of Fame
building, 111 S. St. Joseph Street, South Bend, IN, effective December 28, 2010 and reported on
January 18, 2011. Per your request, I hereby propose additional services related to said appraisal,
including Property Tax Assessment Board of Tax Appeals hearing appearances, related review, and
preparations for such appearances including driving time to be invoiced at a rate of $175.00 per
hour.
I have no present or prospective interest in or bias with respect to the property that is the subject of
the assignment, and have no personal interest or bias with respect to the parties involved with this
assignment.
I have provided prior services to the South Bend Department of Economic Development as an
appraiser regarding the subject property within 3 years immediately preceding acceptance of this
proposed assignment as noted. Specifically, Real Estate Appraisal, effective valuation date
December 28, 2010, Summary Appraisal Report dated January 18, 2011.
Sincerely,
R.E. PITTS & ASSOCIATES, INC.
G'U V ` if-
Rick Pitts, MAI
Indiana Certified General Appraiser, License #CG69100722
Engagement Letter Accepted:
Signature Date
Rick Pitts, MAI
50580 Woodbury Way • Granger, IN 46530
�� Pit574 - 272 -3224
ma tsMAI@aol.com