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REQUEST FOR QUALIFICATIONS FOR APPRAISAL SERVICES REGARDING AIRPORT INDUSTRIAL FACILITIES AND ASSOCIATED AIRPORT REAL ESTATE TO BE PERFORMED ON BEHALF OF
REQUEST FOR QUALIFICATIONS
FOR
APPRAISAL SERVICES REGARDING
AIRPORT INDUSTRIAL FACILITIES AND ASSOCIATED AIRPORT REAL ESTATE
TO BE PERFORMED ON BEHALF OF
REQUEST FOR QUALIFICATIONS FOR APPRAISAL SERVICES (INDUSTRIAL FACILITIES AND ASSOCIATED REAL ESTATE)
I. INFORMATION FOR APPRAISERS A. Purpose
Tulsa Airports Improvement Trust ("TAIT"), an Oklahoma public trust is seeking statements of qualifications and experience from commercial and industrial appraisers for valuation studies to determine the market rent for airport properties (i.e., land and/or improvements) being used for commercial, industrial, and aeronautical purposes. TAIT expects services will be needed throughout the term of the five‐year agreement as subleases are negotiated with existing and prospective tenants and in preparation for the sale of parcels from time to time. A qualifications‐based selection process will be used to select a well‐qualified firm. Fee information will not be considered in the selection process and must not be submitted with the statement of qualifications. Tulsa International Airport Tulsa International Airport (TUL) is located in northeast Tulsa and encompasses over 4,900 acres, adjacent to State Highway 11 and U.S. Highway 169. The Airport is designated as a small‐hub airport by the Federal Aviation Administration. TUL airside facilities include a 10,000’ concrete runway with ILS and GPS approaches, a 7,376’ crosswind concrete runway with GPS and VOR precision approaches, and a 6,101’ asphalt runway with an ILS approach on runway 18R and GPS approach on 36L (primarily used for general aviation traffic). TAIT operates TUL under a long‐term lease from the City of Tulsa and TAIT’s 1967 Trust Indenture, which provides TAIT with exclusive management and control of the Trust properties for the use and benefit of the Beneficiary, the City of Tulsa. TUL is served by six fixed base operators, five cargo carriers (AmeriFlight, DHL, FedEx, Martinaire, UPS), seven commercial carriers (Allegiant, American, Delta, Frontier, Southwest, United and Via) and is home to 72 companies which employ over 13,000 area residents. R.L. Jones, Jr. Airport Richard L. Jones, Jr. Airport (RVS) serves as the reliever airport for Tulsa International. RVS, a 700‐acre facility, is located in southwest Tulsa and is home to 350 employees, generating an economic output of $36.5 million to the Tulsa area. RVS is the busiest airport in the state and one of the top 100 busiest airports in the nation. Six flight schools along with nearly 500‐based aircraft contribute to this high level of operations.
B. Contact Person
Questions regarding this Request for Qualifications (RFQ) should be addressed to Sheri Rider, Manager, Properties and Concessions. E‐mail address is [email protected]; phone number is (918) 838‐5013.
C. RFQ Submission
To be considered, statements must be received by: Tulsa Airports Improvement Trust
Properties and Concessions Department Attn: Manager, Properties and Concessions 7777 Airport Drive, Room A 217 Tulsa, OK 74115
not later than 5:00 p.m., March 1, 2019. Statements received after the date or time specified will not be considered.
One original and one electronic copy of the Statement of Qualifications (“SOQ”) must be submitted. Once submitted, statements become the property of TAIT. Statements must be signed by a duly authorized official of the Consultant's organization. Results of the selection process will be announced to submitters at a day and time to be determined by TAIT. TAIT reserves the right to rescind this RFQ at its sole discretion at any time prior to the due date of the statements. CAUTION: LATE SOQ – Submitters are responsible for delivery of statements before the due date and time. If delivery is delayed beyond the date and hour set for the receipt, statements may not be considered and may be returned unopened. Any false statement(s) made by submitters will void the SOQ and eliminate proposer from further consideration. Verbal responses to inquiries shall not be binding; only written addenda to this RFQ will modify its terms.
D. Right to Reject
TAIT reserves the right to reject any and all SOQ’s submitted and to request additional information from the submitting appraisers. TAIT reserves the right to waive any and all formalities contained within this RFQ except for the deadline for receipt.
E. Preparation Costs
TAIT will not be liable for any costs associated with the preparation, transmittal or presentation of any SOQ or material submitted in response to this RFQ.
F. Indemnity Provision
Appraiser(s) will indemnify and hold harmless TAIT, its officers, employees, and representatives from and against all liability for any and all claims, suits, demands, or actions arising from or based upon any acts on the part of Appraiser, its agents, representatives, or employees which may arise out of or result from Appraiser’s performance under the Agreement.
This indemnity provision extends to any and all such claims, suits, demands or actions regardless of the type of relief sought thereby and whether such relief is in the form of damages, judgments, costs, reasonable attorney fees and expenses. This indemnity provision shall apply regardless of the nature of the injury or harm alleged and whether such claims are alleged at common law, statutory or constitutional. This indemnity provision, shall apply whether the basis for the claim, suit or demand be attributable in whole or in part to the Consultant, or any of its agents, representatives, or employees.
G. Subcontractors
No part of the work to be performed under the agreement will be subcontracted or assigned to another firm without the prior written consent of TAIT. The Appraiser must furnish the names, qualifications, and experience of the proposed subcontractor(s). The primary consultant will remain completely responsible for all services performed and shall assure compliance with all requirements of the Agreement.
H. Evaluation Criteria
The Tulsa Airports Improvement Trust (“TAIT”) will evaluate proposals using the following criteria:
1) Firm’s overall experience in providing the services requested, as demonstrated by recent, similar experience
2) Expertise of the Appraiser’s staff assigned to this project 3) Approach to providing the services given an understanding of TAIT’s scope provided below 4) References
I. Oral Interview
After written SOQ are reviewed initially, discussions with prospective firms may or may not be required. If scheduled, the oral interview will be a question/answer format for the purpose of clarifying the intent of any portions of the SOQ. The individual from your firm who will be directly responsible for carrying out the project, if awarded, should be present at the oral interview.
II. SCOPE OF WORK
Once selected, the appraiser may be asked to perform the following services:
A. An analysis and an appraisal report considering one or more of the following factors: 1) A fair market rental value of improvements, when required for TAIT‐owned buildings, based on
comparable facilities and business terms, showing a separate value for the land in use. 2) That a portion of the improvements are owned or subleased by TAIT, and the remaining
improvements could revert to TAIT in the future. Therefore, a present value, as well as a future
value at the end of a twenty‐five (25) year term, if required. The appraiser should anticipate that the leases for improvements are on a “triple net” basis.
3) That the value of the property in use is for a non‐aeronautical purpose or industrial purpose; and/or that the value in use is for a tenant‐conducted aeronautical business, requiring access to the airfield, as the case may be.
4) Any other pre‐approved factors for establishing an appraisal report. B. A detailed approach for establishing the appraised value, i.e., replacement cost, income stream, or
comparable market sales, with an explanation of benefits and drawbacks relevant to each approach that is not recommended, along with the benefits and limitations of the recommended approach or combination of approaches for each factor, relevant to this property.
C. An analysis and support documentation regarding the comparable properties shall include the following factors: 1) Issues involving zoning, the Airport’s approved master plan
(https://www.tulsaairports.com/about‐us/tul‐master‐plan/), and limitations on the use of the Airport facilities (highest and best use).
2) Trends in the airport industry property valuation practices state‐wide, regionally and nationally. 3) A consideration of area amenities: proximity to major urban areas, car rental facilities, hotel,
shopping facilities, and major tourist attractions, etc. D. Additional information for submissions and appraisals attached as follows:
Drawing showing airfield tenants ‐ TUL (Attachment “B”);
Aerial showing available industrial property (Attachment “C”);
Aerial showing available property at RVS (Attachment “D”);
III. AWARD
The agreement for appraisal services will be awarded to the firm that meets the required minimum qualifications as set forth below. Appraisals will be requested as needed and necessary documentation for valuation of each property will be provided at the time the need arises. An engagement letter describing the assignment will serve as notice to proceed for each appraisal.
IV. MINIMUM QUALIFICATIONS
The Company and Appraiser must meet the following minimum qualifications:
A. Company: The Company must have the ability to obtain the required insurance as specified in Section V below.
B. Appraiser:
1) The Appraiser must be a member of the Appraisal Institute with a Member Appraisal Institute (MAI) designation; and
2) Appraisers should have a working knowledge of the aviation industry, including FBO and related general aviation facilities and associated aeronautical activities, and be familiar with FAA and State of Oklahoma rules and policies affecting airport property. The appraiser must be an Oklahoma Certified General Appraiser at minimum.
3) Appraisers should have completed a minimum of five aeronautical property appraisals of improved properties with at least three (3) comparable FBO appraisals. Valuations are being sought to establish the market value in order to develop the market lease rate, which is based
on a Percentage of Value Factor. The Percentage Value Factor recommendation will be furnished by the client.
4) When appraisals are assigned, they shall conform to, the Uniform Standards of Professional Appraisal Practice (“USPAP”). FAA Order 5190.6B, and CFR 24.103 and CFR 24.104 should be considered resources also, as well as the guidelines set out in 49 CFR Part 24/Uniform Relocation Assistance and Real Property Acquisition for Federal and Federally‐Assisted Programs; and Uniform Standards for Federal Land Acquisitions (“Yellow Book”).
5) SOQs must include a brief summary of aviation appraisal experience, and your proposed scope of work for the pending assignment, based on the information provided herein. Proposers are encouraged to propose any enhancements that will provide added value to the appraisal product.
V. REQUIRED INSURANCE
The Company must be able to demonstrate that it can provide the required insurance coverages and limits as outlined below:
1) Insurance Terms and Conditions
The Company will maintain the following limits and coverages uninterrupted or amended for the term of the appraisal project. In the event the appraiser becomes in default of the following requirements, TAIT reserves the right to take whatever actions deemed necessary to protect its interests. Liability policies, other than Workers’ Compensation/Employer’s Liability and Professional Liability, will provide the following
language: “The certificate(s) of insurance, or endorsement(s) attached thereto, shall provide that (a) the insurance coverage shall not be canceled, changed in coverage, or reduced in limits without at least thirty (30) days prior written notice to TAIT, (b) TAIT, the Authority, and the City, and their trustees, councilors, agents, officers, servants, and employees are named as additional insureds, (c) the policy shall be considered primary as regards any other insurance coverage TAIT or the Authority may possess, including any self‐insured retention or deductible TAIT or the Authority may have, and any other insurance coverage TAIT or the Authority may possess shall be considered excess insurance only, (d) the limits of liability required therein are on an occurrence basis, and (e) the policy shall be endorsed with a severability of interest or cross‐liability endorsement, providing that the coverage shall act for each insured and each additional insured, against whom a claim is or may be made in a manner as though a separate policy had been written for each insured or additional insured; however, nothing contained herein shall act to increase the limits of liability of the insurance company.
2) Required Coverages – Minimum Limits
a. Commercial General Liability
The minimum limits of Commercial General Liability insurance (inclusive of any amounts provided by an umbrella or excess policy) covering liability resulting from, or in connection with, operations performed by, or on behalf of, the Company under this RFQ:
Contract Specific
General Aggregate $1,000,000
Each Occurrence $1,000,000
Personal and Advertising Injury $1,000,000
b) Worker's Compensation and Employer’s Liability Insurance
The minimum limits of Worker's Compensation/Employer's Liability insurance (inclusive of any amount provided by an umbrella or excess policy) are:
Part One (Worker's Compensation): “Statutory” Part Two (Employer’s Liability):
Each Accident $100,000
c) Business Automobile Liability Insurance
The minimum limits of Business Auto Liability insurance (inclusive of any amounts provided by an umbrella or excess policy) covering all owned, hired and non‐owned vehicles are:
Each Occurrence –
Bodily Injury and Property Damage Combined $1,000,000
d) Professional Liability
The minimum limits of Professional Liability insurance covering all work of the Company without any exclusions unless approved in writing by Authority will remain in force for a period of three years following completion of the Appraisal. The minimum limits of coverage are:
Each Occurrence $1,000,000
Annual Aggregate $1,000,000
VI. Delivery of RFQ Submissions
Submit the response no later than 5:00 p.m. (local time) March 1, 2019 in an envelope clearly labeled to the address listed below:
REQUEST FOR QUALIFICATIONS FOR APPRAISAL SERVICES REGARDING AIRPORT INDUSTRIAL FACILITIES AND ASSOCIATED AIRPORT REAL ESTATE
Sheri A. Rider, ACP, CM
Manager, Properties & Concessions 7777 Airport Drive, Room A217
Tulsa, OK 74158 If you have questions concerning the delivery of RFQ submissions, or require interpretation or clarification, contact Sheri Rider at (918) 838‐5000 or [email protected]. The TAIT offices are open Monday through Friday, 8:00 a.m. to 5:00 p.m., excluding major holidays. Deliveries must be to the physical location listed above.
Attachment A must be executed by an official of the Company who is legally authorized to do so.
RFQ Process
The RFQ will in no manner be construed as a commitment on the part of the TAIT to award a contract. TAIT reserves the right to reject any or all Applications; to waive minor irregularities in the RFQ process or in the Applications; to re‐advertise this RFQ; to postpone or cancel this process; select and procure parts of services; and to change or modify the RFQ schedule at any time.
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Attachment “A” Tulsa Airports Improvement Trust
Qualification Statement The Company will specify the individual that will be responsible for performing the appraisal ("Appraiser").
Date:
1. Company’s Information
A. Company’s legal name:
B. Address:
C. Phone number:
D. Fax number:
2. Appraiser’s Information
A. Appraiser’s name:
B. Address:
C. Phone number:
D. Fax number:
E. Email address:
3. Minimum Qualifications
To determine qualifications, the following information must be provided for the Company and the Appraiser:
A. Company:
The Company must have the ability to obtain the required insurance as specified herein. Attach documentation, in the form of a current insurance certificate or letter from the appraiser's insurance company, demonstrating that the appraiser or appraiser's company has or can obtain the required insurance specified in the "General Requirements" section of the RFQ.
Insurance documentation is attached. Yes No
B. Appraiser:
1) The Appraiser must be a member of the Appraisal Institute with a Member Appraisal Institute (MAI) designation.
MAI Certificate is attached. Yes No
2) The Appraiser must be a state certified general appraiser.
State of Oklahoma Appraisal certification is attached. Yes No
3) Provide the following information to demonstrate that the Appraiser has
completed a minimum of five appraisals since January 1, 2014 of industrial properties and improvements including aviation and non‐aviation properties.
Attach a report that includes, at a minimum, the following:
a. Name of entity for which appraisal was performed:
b. Entity contact person:
c. Contact person’s phone number:
d. Type of appraisal:
e. Date appraisal completed:
r. Additional comments:
4. Acknowledgement of Submittal
The Company acknowledges the submittal of this SOQ and, if qualified and accepted by TAIT pursuant to this RFQ, agrees to be subject to all terms and conditions contained herein. Dated this day of , 20 .
By: (Signature of Appraiser)
(Printed Name) ATTESTED BY:
(Signature)
(Printed Name)
Attachment “B”
Drawing Showing TUL Airfield Tenants
20190128 - MRK ATTACHMENT "B"
Attachment “C”
Aerial Showing Available Industrial Property
36th Street North
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±TULSA INTERNATIONAL AIRPORT
INDUSTRIAL PROPERTY
NOT TO SCALE | FOR REFERENCE ONLYTIA_Property_Exhibit_A.mxd |28JAN2019 | MRK | Source:TAIT\departments tait-fs1(R:GIS\TAA\Basemap \ \VectorData\ 2017)TAIT\departments tait-fs1(R:GIS\taa_gis\eALP(House Bill 2919)ATTACHMENT "C"
Attachment “D”
Aerial Showing Available Property at R. L. Jones, Jr. Airport (RVS)
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91st St
96th St \ Main St
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±RIVERSIDE JONES AIRPORTPROPERTY AVAILABLE
NOT TO SCALEFOR REFERENCE ONLY
28JAN2019 - MRKRVS_AERIAL.MDX
ATTACHMENT "D"
