CITY COUNCIL: Resolution Entering Into Agreement with Sedway Consulting for Services to Update Economic Information Related to Flanders Mansion Property

City Council
Agenda Item Summary

Name: Consideration of a Resolution entering into an agreement with Sedway Consulting for services to update economic information related to the Flanders Mansion property in an amount not to exceed $5,000.

Description: San Francisco-based Sedway Consulting has proposed to undertake an economic update of the Flanders mansion property, to update the market comparable values to account for the current market, and to analyze the impact, if any, of a smaller amount ofland associated with the property.

Overall Cost:
City Funds: $5,000 annually
Grant Funds: N/A

Staff Recommendation: Adopt the Resolution.

Important Considerations: Lynn Sedway, principal of the company, said her work will be done in collaboration with Denise Duffy and Associates who is doing the alternatives analysis. Sedway has worked on assignments at the Flanders property.

Decision Record: None.

Reviewed:

Jason Stilwell, City Administrator Date
CITY OF CARMEL-BY-THE-SEA
CITY COUNCIL
RESOLUTION 2012-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARMEL-BY-THE-SEA ENTERING INTO AN AGREEMENT WITH SEDWAY CONSULTING TO PROVIDE SERVICES TO UPDATE ECONOMIC INFORMATION RELATED TO THE FLANDERS MANSION PROPERTY IN AN IN AMOUNT NOT TO EXCEED $5,000

WHEREAS, the Monterey Superior Court has requested new analysis related to the
Flanders Mansion property; and
WHEREAS, Sedway Consulting has proposed to prepare an updated analysis of the
Flanders Mansion property, to update the market comparable values to account for the current
market, and to analyze the impact, if any, of a smaller amount of land associated with the
property; and
WHEREAS, the firm of Sedway Consulting has experience working at the Flanders
Mansion property.
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY
OF CARMEL-BY-THE-SEA does hereby:
Authorize the City Administrator to execute an agreement with Sedway Consulting in an
amount not to exceed $5,000.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF CARMELBY-
THE-SEA this 6th day of March, 2012 by the following roll call vote:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
SIGNED,
________________________
SUE McCLOUD, MAYOR
ATTEST:
__________________________________
Heidi Burch, City Clerk
31
February 24, 2012
Mr. Jon Giffen
Kennedy, Archer & Harray
24591 Silver Cloud Ct.
Monterey, CA 93940
Dear Mr. Giffen:
Per your request, this email serves as my proposal to undertake the work requested in
conjunction with the requests from the Court regarding the Flanders property. I apologize
for the informality of this proposal, and I am happy to provide a more official one on
letterhead if you like.
By way of background, the Court was comfortable with most of the analysis set forth, but
has requested an analysis of an additional alternative, namely that of the property
encompassing a smaller lot size of about .75 acres. Based on our conversation, I propose to
accomplish this request by both updating market comparable values to account for the
current market and analyzing the impact, if any, of a smaller amount of land associated with
the property.
I am sensitive to the City’s concerns about budget and propose the following: My work will
be done in collaboration with Denise Duffy who is doing the alternatives analysis. In
addition, I will research comparable property values and appropriate adjustments to value
of the smaller lot size using data sources and phone interviews. I will summarize my
findings in an addendum to my earlier report. This work scope does not include a site visit
at this time – I have spent a considerable amount of time in Carmel including working on
several assignments in addition to the Flanders property. Should a court appearance prove
important, I would of course spend the necessary time in Carmel.
My estimate of professional fees based on a discounted hourly rate of $300 per hour is
$5000 or less. This is an estimate only, and if there are issues that warrant more time, I
would contact you before expending additional time.
I look forward to working with you on this important project.
Sincerely,
Lynn M. Sedway CRE