AGENDA MEMORANDUM

 

 

Meeting Date:           November 23, 2009

 

From:                          Paul Kalv, Electric Director

 

Subject:                      Resolution authorizing  an agreement with R. W. Beck for review of Appraisal and Separation Study performed by GAI Consultants and WWH Enterprises of the Leesburg Electric Distribution System Assets located in the City of Fruitland Park (Facilities)

 

 

Staff Recommendation:

Staff recommends approval of the Resolution authorizing execution of an agreement with R. W. Beck for review of the Appraisal and Separation Study of the assets in the City of Fruitland Park for $40,000.00.

 

Analysis:

The City of Fruitland Park is exercising its right to acquire Leesburg’s electric distribution facilities within their city limits. They have submitted an Appraisal and Separation Study which attempts to determine the value of our assets.  The next step is for Leesburg to review the study to determine the appropriateness and accuracy of the methodologies employed.  R.W. Beck will review the Valuation approaches utilized in the appraisal and comment on the credibility and reasonableness of the assumptions and methodologies utilized by GAI.  They will also review the Severance and System Reintegration Study and comment on the appropriateness of the study, the impact on the remaining City customers, and recommended changes to the Severance and System Reintegration.

 

Options:

1.  Approve execution of the agreement with R. W. Beck; or,

2.  Such alternative action as the Commission may deem appropriate

 


 

Fiscal Impact

Funding was not included in the current budget.  A budget adjustment is necessary to appropriate this expense from fund balance.

 

Submission Date and Time:    11/19/2009 4:46 PM____

 

Department: __Electric_______________

Prepared by:  __Sabrina Hubbell______                     

Attachments:         Yes_X__   No ______

Advertised:   ____Not Required _X____                     

Dates:   __________________________                      

Attorney Review :       Yes___  No _X__

                                                

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head _Paul Kalv

 

Finance  Dept. _____JB___________                                     

                              

Deputy C.M. ___________________                                                                         

Submitted by:

City Manager ___________________

 

Account No. _041-1021-531-3110___

 

Project No. _419230_____________

 

WF No. ______________________

 

Budget  ______________________

 

Available _____________________


 

 

 

 

RESOLUTION NO._______________

 

RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING EXECUTION OF AN AGREEMENT WITH R. W. BECK FOR THE REVIEW OF APPRAISAL AND SEPARATION STUDY PERFORMED BY GAI CONSULTANTS AND WWH ENTERPRISES OF THE LEESBURG ELECTRIC DISTRIBUTION SYSTEM ASSETS LOCATED IN THE CITY OF FRUITLAND PARK (FACILITIES); AND PROVIDING AN EFFECTIVE DATE.

 

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

 

            THAT the Mayor and City Clerk are hereby authorized to execute an agreement with R. W. Beck, whose address is 131 Saundersville Road, Suite 300, Hendersonville, TN 37075 for Appraisal and Separation Study. 

 

             THAT this resolution shall become effective immediately.

 

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _23rd____ day of _November_____ 2009.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk