Baldwin County, Alabama
File #: 25-0073    Version: 1
Agenda section: Consent Status: Passed
File created: 10/3/2024 Meeting type: Baldwin County Commission Regular
On agenda: 11/5/2024 Final action: 11/5/2024
Agenda item title: Revenue Commission - Renewal Amendment to IncomeWorks Software License Agreement
Attachments: 1. IncomeWorks Amendment 2025, 2. IncomeWorks Sole Source Statement 2025, 3. Assessment Advisors, LLC - IncomeWorks Software License Agreement 20130416

Meeting Type:   BCC Regular Meeting

Meeting Date:  11/5/2024

Item Status:   New

From: Teddy J. Faust, Jr., Revenue Commissioner

Submitted by:  Susan Hill, Administrative Support Specialist IV

______________________________________________________________________

 

ITEM TITLE

Title

Revenue Commission - Renewal Amendment to IncomeWorks Software License Agreement

Body

 

STAFF RECOMMENDATION

Recommendation

Approve and authorize the Chairman to execute the Renewal Amendment to IncomeWorks Software License Agreement between the Baldwin County Commission and Assessment Advisors, LLC in the amount of $5,000.00, to provide the Baldwin County Revenue Commission with an income based local-market-specific commercial real estate evaluation model designed specifically to bring consistency and equity to the assessment of commercial, industrial, lodging, multi-family, office, and retail properties.

This Agreement shall be for a term of one (1) year, to commence January 1, 2025, and terminate December 31, 2025, per Renewal Amendment.

End

BACKGROUND INFORMATION

 

Previous Commission action/date:  November 7, 2023 - The BCC approved a renewal amendment.

 

Background: IncomeWorks is a product and a process that collects and analyzes local lease practices and data, which can be customized for Baldwin County, Alabama.  This allows the income approach to be utilized in valuing income producing properties.  The initial Agreement, between Assessment Advisors, LLC and the Baldwin County Commission was approved on April 16, 2013, and has continued on an annual basis.

 

The 2025 calendar year term set forth in the agreement is for IncomeWorks 2024 Maintenance Year renewal.

 

FINANCIAL IMPACT

 

Total cost of recommendation: $5,000.00

 

Budget line item(s) to be used: 12051810.52350 (Computer Maintenance) 

 

If this is not a budgeted expenditure, does the recommendation create a need for funding?  N/A

 

LEGAL IMPACT

 

Is legal review necessary for this staff recommendation and related documents? 

N/A

 

Reviewed/approved by: N/A

 

Additional comments: N/A

 

ADVERTISING REQUIREMENTS

 

Is advertising required for this recommendation?  No

 

If the proof of publication affidavit is not attached, list the reason: N/A

 

FOLLOW UP IMPLEMENTATION

 

For time-sensitive follow up, select deadline date for follow up: 2024 Maintenance Year Fee to be paid (Invoice #2464) following approval. 

 

Individual(s) responsible for follow up: Accounting: Pay $5,000.00 Maintenance Year Fee 

 

Action required (list contact persons/addresses if documents are to be mailed or emailed): Administration Staff: Send fully executed Amendment to:

Ms. Linda Pedalino, MAI, Co-Founder and President

Assessment Advisors, LLC

736 N. Western Avenue, #393

Lake Forest, Illinois 60045

 

cc:                     Walt Lindsey, Chief Appraiser

                     Teddy J. Faust, Jr., Revenue Commissioner

 

Additional instructions/notes:  Admin - Append renewal amendment to agreement and reupload to Contracts.