HomeMy WebLinkAboutContract 59947-A1First Amendment to Fort Worth City Secretary Contract No. 59947 Page 1 of 2
Paramount Valuation Services Inc.
FIRST AMENDMENT TO
NON-EXCLUSIVE REAL PROPERTY APPRAISAL SERVICES AGREEMENT
FORT WORTH CITY SECRETARY CONTRACT NO. 59947
This First Amendment to the NON-EXCLUSIVE REAL PROPERTY APPRAISAL
SERVICES AGREEMENT (Amendment), Fort Worth City Secretary Contract No. 59947,
between the CITY OF FORT WORTH (City), a Texas home rule municipal corporation and
P I . (Vendor), a Texas Limited Liability
Company, each individually referred to as a party and collectively referred to as the parties.
WHEREAS City, through its Property Management Department, and Vendor entered into
an agreement for appraisal services (the Services), said agreement being identified as Fort Worth
City Secretary Contract No. 59947 and having an effective date of August 5, 2023 (the
Agreement); and
WHEREAS City and Vendor desire to amend the Agreement to increase the aggregate
amount of all contracts awarded to multiple vendors for the Services to Five Million and 00/100
Dollars ($5,000,000.00)
NOW THEREFORE, City and Vendor, acting herein by and through their duly
authorized representatives, agree to the following terms:
1.Amendment of Not-to-Exceed Compensation. Section 3.1 of the Agreement is
amended to be and read as follows:
3.1 City will pay Vendor in accordance with the provisions of this Agreement, including
Exhibit B, which is attached hereto and incorporated herein for all purposes. The aggregate
amount of all contracts awarded to multiple vendors for the Services will not exceed Five
Million and 00/100 Dollars ($5,000,000.00). The City makes no promise or guarantee of the total
amount of work that will be assigned to Vendor under this Agreement. Vendor will not perform
any additional services or bill for expenses incurred for City not specified by this Agreement unless
City requests and approves in writing the additional costs for such services. City will n ot be liable
for any additional expenses of Vendor not specified by this Agreement unless City first approves
such expenses in writing.
2.All other terms, provisions, conditions, covenants and recitals of the Agreement not
expressly amended herein shall remain in full force and effect. The aggregate amount of all
contracts awarded to multiple vendors for the appraisal services will not exceed Five Million
and 00/100 Dollars ($5,000,000.00). The City makes no promise or guarantee of the total
amount of work that will be assigned to Vendor under this Agreement.
[signature page follows]
First Amendment to Fort Worth City Secretary Contract No. 59947 Page 2 of 2
Paramount Valuation Services Inc.
ACCEPTED AND AGREED:
CITY OF FORT WORTH:
By: ___________________________
Name: Dana Burghdoff
Title: Assistant City Manager
Date: _____________
APPROVAL RECOMMENDED:
By: ______________________________
Name: Marilyn Marvin
Title: Interim Property Management Director
ATTEST:
By: ______________________________
Name: Jannette S. Goodall
Title: City Secretary
CONTRACT COMPLIANCE MANAGER:
By signing I acknowledge that I am the person
responsible for the monitoring and
administration of this contract, including
ensuring all performance and reporting
requirements.
By: ______________________________
Name: Ricardo Salazar
Title: Asst Property Management Director
APPROVED AS TO FORM AND LEGALITY :
By: ______________________________
Name: Matthew A. Murray
Title: Assistant City Attorney
CONTRACT AUTHORIZATION:
M&C: 23-0480 / 24-0397
M&C Approved:June 13, 2023 / May 14, 2024
Form 1295:
VENDOR:
Paramount Valuation Services Inc.
By:
Name: Jennifer Ayers
Title: Owner & President
Date: _________________________________
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City of Fort Worth,
Mayor and
Texas
Council Communication
DATE: 05/14/24 M&C FILE NUMBER: M&C 24-0397
LOG NAME: 21AMEND PMD APPRAISAL SERVICES
SUBJECT
(ALL) Authorize Execution of Amendments to the Non-Exclusive Agreements with Certain Identified Appraisers to Increase the Combined Annual
Amount by $4,000,000.00 for a New Combined Annual Amount of $5,000,000.00 for the Property Management Department
RECOMMENDATION:
It is recommended that the City Council authorize execution of amendments to the non-exclusive agreements with certain identified appraisers to
increase the combined annual amount by $4,000,000.00 for a new combined annual amount of $5,000,000.00 for the Property Management
Department.
DISCUSSION:
On June 13, 2023, City Council approved Mayor and Council Communication (M&C) 23-0480), authorizing agreements with certain indentified
appraisers in a combined annaul amount of $1,000,000.00 for the Property Management Department. Under the agreements, the appraisers
provide appraisal services for the Real Estate Division of the Property Management Department.
Under federal, state, and local laws, the City of Fort Worth must provide a bona fide offer based on an independent appraisal report when
purchasing real property. The Property Management Department regularly engages certified appraisers to provide professional appraisal services
for land acquisitions for Capital Improvement Projects and City-wide initiatives. In order to be compliant with Chapter 2254 of the Texas
Government Code, the Real Estate Division of the Property Management Department initiated the Request for Qualification process for
procurement of real estate appraisal services per section IX.D.a. of the Purchasing Administrative Regulation (AR). In order to follow the process,
the Property Management Department contacted over finrenty different firms who provide appraisal services and requested contact references,
reviewed examples of past work product, and conducted similar reviews to determine the appraiser's level of qualification.
Federal and state law require that qualified appraisers perform appraisal functions. Anyone performing an appraisal, or appraisal related service
in determining an opinion of value, or the act or process of developing an opinion of value, shall be competent and qualified to perform these
functions per Title 49 of the Code of Federal Regulations (CFR), Part 24.103(d) and per the Texas Administrative Code Title 43, Chapter 9,
Subchapter F.
All real estate appraisers performing appraisals for the City of Fort Worth must be licensed by the Texas Appraiser Licensing and Certification
Board, as provided in the Texas Appraiser Licensing and Certification Act (Chapter 1103 of the Texas Occupations Code). Additionally, the City of
Fort Worth requires appraisers to be Texas Department of Transportation (TxDOT) certified before they can perform any appraisal or appraisal-
related services on behalf of the City of Fort Worth.
In selecting appraisers, Property Management used the following evaluation criteria:
• Licensed by the Texas Appraiser Licensing and Certification Board;
• Certification by TxDOT;
• Experience of the individual real estate appraiser and demonstrated understanding of the scope of services to be provided; and
• Ability to meet deadlines over the past three years and the ability to meet City of Fort Worth scheduling requirements.
The Real Estate Division has requested and reviewed qualifications for the following:
• AdVal Analytics LLC,
• Angel Valuation Services LP,
• Trailhead Real Estate LLC d/b/a Archer Appraisal Co.,
• Ben Dyess & Associates,
• CBRE, Inc.,
• Commercial Appraisal Associates, LLC,
• Cushman & Wakefield of Texas, Inc.,
• Matthews Real Estate Consulting, Inc. d/b/a Edgestone Realty Valuation,
• Integra Realty Resources - Fort Worth, LLC,
• Jeffrey Monroe Tillman d/b/a Jeff Tillman & Associates,
• JLL Valuation & Advisory Services, LLC,
• Duff & Phelps Holdings Corporation d/b/a Kroll LLC,
• Lowery Property Advisors, LLC,
• ML&M Realty Advisors LLC,
• Molas Schechter & Associates LLC,
• O'Brien Realty Advisors LLC,
• Paramount Valuation Services Inc.
• Texas Appraisal Team LLC,
• Thomas Kyser,
• Totten & Company, and
• Colliers International Valuation & Advisory Services, LLC.
It was confirmed that these firms meet the evaluation criteria listed above. The Real Estate Division of the Property Management Department has
utilized these appraisal firms to obtain appraisal services in the past and can certify that all the proposed firms can satisfactorily pertorm the
professional services required.
Additional Services - Due to the increased use of eminent domain in acquiring property interests needed for City capital improvement projects,
it is imperative to utilize expert testimony from certified appraisers in support of our condemnation action. To address this need, the Property
Management Department and the City Attorney's office request an increase from a combined total of $1,000,000.00 annually to a combined total
of $5,000,000.00 annually.
Funding - Funding for appraisal services will be provided through various capital project funding sources. These contracts will serve current and
future capital projects as-needed, and a funds availability verification will be performed by staff and personnel of the Property Management
Department prior to each assignment.
Administrative Change Order - An administrative change order or increase may be made by the City Manager in the amount up to $50,000.00
without specific City Council approval as long as sufficient funds have been appropriated.
Renewals - These agreements include four additional one-year renewal terms.
This is for ALL COUNCIL DISTRICTS.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that funds are available in the current capital budgets, as previously appropriated, in the various capital
improvement program funds to support the approval of the recommendation and execution of the agreements. Prior to an expenditure being
incurred, the Property Management Department has the responsibility to validate the availability of funds.
Submitted for City Manager's Office b� Dana Burghdoff 8018
Originating Business Unit Head: Marilyn Marvin 7708
Additional Information Contact: Ricardo Salazar 8379