Baldwin County, Alabama
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File #: 19-2120    Version: 1
Agenda section: Action Items Status: Passed
File created: 9/24/2019 Meeting type: Baldwin County Commission Regular
On agenda: 10/1/2019 Final action: 10/1/2019
Agenda item title: Renewal of IncomeWorks Software License Agreement
Attachments: 1. Renewal Amendment Incomeworks License Agreement 2020.pdf

Meeting Type:   BCC Regular Meeting

Meeting Date:  10/1/2019

Item Status:   New

From: Teddy J. Faust, Revenue Commissioner

Submitted by:  Susan Hill, Chief Administrative Assistant

______________________________________________________________________

 

ITEM TITLE

Title

Renewal of IncomeWorks Software License Agreement

Body

 

STAFF RECOMMENDATION

Recommendation

Approve the renewal of the IncomeWorks License Agreement between Assessment Advisors, LLC and Baldwin County Commission, 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 on January 1, 2020, and terminate on December 31, 2020, per Renewal Amendment.  The renewal fee of $29,000.00 was invoiced to Licensee September 4, 2019.  Payment received in October 2019 will ensure release prior to the December 31, 2019 expiration date of the current term.

End

 

BACKGROUND INFORMATION

 

Previous Commission action/date:  October 2, 2018

 

Background:  The Commission has approved an annual Software License Agreement with Assessment Advisors, LLC since 2013.

 

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.

 

FINANCIAL IMPACT

 

Total cost of recommendation:  $29,000.00

 

Budget line item(s) to be used:  51810.5235

 

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? 

Yes

 

Reviewed/approved by:  David Conner, County Attorney

 

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: 2019 License Fee to be paid (Invoice #1950) following approval. 

 

Individual(s) responsible for follow up:  Accounting: Pay $29,000.00 2019 License Fee 

 

Action required (list contact persons/addresses if documents are to be mailed or emailed): 

Administration Staff: Get Renewal Amendment, to IncomeWorks Software License Agreement, fully executed by the Chairman and send to:

Linda Pedalino, MAI, Co-Founder & 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: