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ver <br />MEMORANDUM <br />TO: Mayor & City Council <br />FROM: Catherine Mehelich, Director of Economic Development <br />DATE: July 7, 2008 <br />SUBJECT: Appraisal Services for Gateway Business Park Property <br />Attachment <br />• Nagell Appraisal & Consulting proposal dated June 30, 2008. <br />Issue <br />Due to recent interest received for purchase of portions of the City's Gateway Business Park <br />property, staff solicited quotes fox an appraisal in order to provide the city information <br />necessary to respond to purchase offers and development proposals. <br />The following firms were asked to provide a quote fox appraisal service: <br />• Nagell Appraisal & Consulting <br />• Meeks Appraisal <br />• Patchin Messner & Dodd <br />Two of the firms respectfully declined due to current workload that doesn't allow the firm to <br />complete the appraisal within a 30-day turnaround. The Council could allow additional time <br />to complete the appraisal and obtain additional quotes for appraisal services. <br />Recommendation <br />Staff recommends the City Council accept the attached Nagell Appraisal & Consulting <br />proposal for appraisal service of the Gateway Business Park Property in the amount of <br />$1,000. The appraisal is expected to be complete by August 11, 2008. Both the HRA and <br />EDA have worked with Nagell Appraisal on recent projects, including appraisal of the <br />Houlton Buildings downtown and the Post Office property on Line Ave. <br />S:\EDA\LAND\Gateway Business Center\Appraisal\7.7.08 Council memo.doc <br />