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July 2019

VALUATION PROGRAMS OVERVIEW. Real Property Valuation Division GSA - Public Buildings Service Office of Portfolio Management and Customer Engagement. Nicholas S. Hufford, MAI, CAE Director, Chief Appraiser. July 2019. Context – U.S. Federal Real Estate. U.S. Agencies – Appraisal needs.

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July 2019

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  1. VALUATION PROGRAMS OVERVIEW Real Property Valuation Division • GSA - Public Buildings Service • Office of Portfolio Management and Customer Engagement Nicholas S. Hufford, MAI, CAE Director, Chief Appraiser July 2019

  2. Context – U.S. Federal Real Estate

  3. U.S. Agencies – Appraisal needs • GSA – public buildings • Department of Justice – eminent domain • Department of Agriculture; Department of Interior – land, landmarks • US Army Corps of Engineers; Navy (Naval Facilities Command) – military and civilian projects • Department of Energy – Bonneville Power – power distribution, other • Internal Revenue Service – tax enforcement and review • Department of State – overseas facilities Appraisal needs differ, but agencies share: • Contracting regulations • Issues and concerns • The same pool of contract appraisers • Goal - best value for the Government (and the taxpayer) States, US Financial and Lending institutions have appraisal functions – but not in-house. • Residential properties; State and local governments and DOTs.

  4. Mission:“Deliver value and savings in real estate, acquisition, technology, and other mission-support services across Government.” Eisenhower Executive Office Building, Washington, DC 1871-1878 GSA.gov

  5. Edward J. Schwartz CH annex San Diego, CA Non Sign ll; Lead Pencil Studio

  6. Public Buildings Service (PBS) What do we do at PBS? Eagle door detail, Federal Building and U.S. Custom House, Denver, ColoradoCarol Highsmith

  7. GSA – Public Buildings ServiceReal Property Valuation Division 1800 F Street NW, Suite 5150 Washington DC 20405 202.501.2055 office 202.631.2751 cell Nicholas.hufford@gsa.gov UNITED STATES LAND PORT OF ENTRY, WARROAD, MINNESOTA Nicholas S. Hufford, MAI, CAE Director; Chief Appraiser NOAA Satellite and Operations Facility Suitland, MD

  8. Christopher Bond CH, Jefferson City, MO 2011; LEED Gold GSA.gov GSA.gov/pbs

  9. Real Property Valuation DivisionPrimary Program Areas Los Angeles Courthouse

  10. Courtroom Detail Byron R. White U.S. Courthouse Denver, Colorado

  11. Why do we use independent appraisers? We manage a diverse and complex portfolio • We need your expertise! Mariposa Land Port of Entry Nogales, AZ Warehouse and Ware-Yards Fleet Management/ Parking

  12. Why do we use independent appraisers? • We Acquire, Build, Manage and Dispose of property for the Federal Government • Eminent Domain; Site Acquisition; Rent; FMV Uniform Relocation Act • USPAP The Yellow Book

  13. How can you do appraisal work for GSA? • We contract about 300 appraisals annually • FAR; Rent - local projects - Regionally managed • FMV; Market Value – Comprehensive analysis and reports - Central Office managed • Special Projects - Regional and Central Office Federal Center South Seattle, WA US Customs House Denver, CO

  14. Fair Annual Rent (FAR) Appraisal Program Abe Saiidifar, MAI Abe.saiidifar@gsa.gov • Approximately 200 assets appraised annually • Five-year cycle; (or more frequently as needed) • Focus on rent – market equivalent for tenanted space;10-year term rates (long term lease) • GSA’s report template, instructions and XL workbook • Complexity depends on property and market • Narrative – template requires analysis and support • Managed by Regional Offices; Reviewed extensively for technical clarity; internal consistency; compliance with Statement of Work • Four step review – 2 at Region, 2 at Central Office QUINCY CT FEDERAL BLDG CHICAGO, IL

  15. Fair Market Value (FMV) Appraisal Program Barbara Kaczmarek, MAI • Approximately 50 assets annually; • Focus on critical assets; transitional; reinvestment; exchange; • Rotates through the portfolio; Strategic investments • Complex appraisals; narrative – comprehensive • Strategic high profile projects • Managed by Central Office • Reviewed extensively for technical clarity;for internal consistency and compliance with Statement of Work • Mostly 0ne-off bids – local expertise or known appraisers WISDOM COURTHOUSE NEW ORLEANS, LA Barbara.kaczmarek@gsa.gov

  16. Disposal Appraisal Program Robert.Yevoli@gsa.gov Managed by five Disposal Zone offices Reviewed extensively for technical clarity; internal consistency and compliance with Statement of Work The work and property types vary broadly Some extremely complex; a few are fairly simple MILWAUKEE PIERHEAD LIGHT 1872 Poe Reef Lighthouse on Lake Huron GSA Auctions

  17. Contracting With Federal Agencies REGISTER ON SAM.GOV https://www.sam.gov/

  18. The Hot Buttons

  19. Eisenhower Executive Office Building, DC Celebreze Federal Building Cleveland Wayne Aspinall Federal Building and U.S. Courthouse Grand Junction, CO

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