DONNA DESMOND ASSOCIATES (2) - 2014

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the Agreement shall become the property of the City. • The Consultant will receive written notification of the award of the contract. Upon on such notification, the Consultant will proceed with the services required by the Agreement. The Consultant shall complete work under the direction of City staff. The Consultant will be expected to provide experienced and knowledgeable professional staff which will be responsive and maintain excellent working relationships with property owners, tenants, and City staff. The Consultant shall be committed to provide adequate staffing levels at all times in order to adhere to established schedules. The Consultant shall be knowledgeable and very familiar with federal, state and local regulations, policies and procedures as pertain to the right of way services provided. BUSINESS GOODWILL APPRAISAL SERVICES: Consultant services will include: Budgetary Estimates of Goodwill Loss Budgetary estimates are used by public agencies in planning and preparing a project budget. Consultant's estimate of goodwill loss will be based upon a "drive by" site inspection of the subject business, limited market research, and any publicly available data. In addition, these estimates will be based on Consultant's experience in preparing goodwill loss appraisals of comparable businesses, as well as relevant statutes and case law, negotiated settlements and jury awards in eminent domain proceedings. Consultant's results will be presented in a brief letter. • Goodwill Loss Acquisition Appraisals During the early stages of property acquisition, Consultant may provide preliminary estimates of goodwill loss. Acquisition appraisals are based upon data, which may be provided by the business' ownership. Such information may include: leases; background on the business provided via owner/management interviews; historical and prospective financial data; and information about proposed relocation sites. In addition, Consultant shall perform basic transactional research in light of Consultant's understanding of the business' operations and financial condition. Consultant will coordinate with real estate and FF&E appraisers to avoid duplication of compensation. Consultant's analyses will be guided by relevant statutory and case law pertaining to compensation for loss of goodwill. The result of each acquisition appraisal study shall be presented in a brief report with attached schedules. The appraisal report shall include a statement of the purpose of the assignment, the sources of information utilized, a brief description of the subject business and the valuation methods employed. Consultant shall note any assumptions made in performing the analyses, as well as all information requested from the business' ownership, but not received, which, upon review by Consultant, may have an impact on the value conclusion.