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(. 0. 1 <br />SouryB� <br />F� %x Department of <br />s Community <br />ieas <br />Memorandum <br />June 13, 2013 <br />Investment <br />TO: South Bend Redevelopment Commission <br />FROM: David Relos, Economic Resources - <br />SUBJECT: Professional Services Agreement — R.E. Pitts & Associates <br />College Football Hall of Fame Property Tax Appeal <br />This staff report is for a Professional Services Agreement to have Rick Pitts, a MAI <br />Certified Indiana Appraiser, who in 2010 appraised the College Football Hall of Fame <br />(Hall), assist in the property tax appeal currently underway for this property. <br />In December 2012 a petition was filed with the Assessor's Office to review the 2012 pay <br />2013 assessed value of the Hall. The assessed value for tax purposes is $6,022,600. <br />In 2011 the Hall was taken through the disposition process with an average appraised <br />value of $2,687,500. <br />In May of this year we received notice the assessed value for the Hall was not changed. <br />We filed paperwork to appeal, and a hearing will be held before the Property Tax Board <br />of Appeals. To assist in this hearing, staff is requesting the services of Rick Pitts, <br />whose knowledge of the downtown market will be helpful in this endeavor. <br />The attached proposal is to review related documentation and attend the hearing, with <br />an hourly rate of $175 / hour. <br />Staff requests approval of this Professional Services Agreement in a not -to- exceed <br />amount of $1,750 (10 hours of work), to assist staff at this important meeting. Having <br />the Hall's assessed value be in line with its market value will assist in its eventual <br />disposition. <br />227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574- 235 -9021 1 SOUTHBENDIN.GOV <br />