Department of the Army, Baltimore District, Corps of Engineer, 10 South Howard Street, Room 7000, Baltimore, MD 21201-1715

R -- ARMED FORCES RETIREMENT HOME BOARD REAL ESTATE APPRAISAL, NORTH CAPITAL STREET, WASHINGTON, DC SOL DACA31-99-T-0092 DUE 042199 POC Frank Palmer 410-962-3101 or Gloria Frost 410-962-3534 R -- Armed Forces Retirement Home Board, Real Estate Appraisal 49+- Acres, District Parcel 121/19, North Capital Street Washington, D.C. 20317. THIS PROCUREMENT IS UNRESTRICTED. SIC is 6531 and the size standard is $1.5 million. On or about the week of April 18, 1999, Baltimore District, U.S. Army Corps of Engineers, 10 S. Howard Street, Baltimore, Maryland 21201 intends to issue a Request For Quotation for the below described real estate appraisal assignment. Delivery of the report will be seventy (75) days from the notice to proceed. Each offeror will furnish the information required by the Quotation. It will be the offeror's responsibility to ensure that its proposal is complete upon submittal. All offerors are required to disclose, define and describe for themselves and on behalf of any proposed subcontractors, any relationship, in any capacity what-so-ever, arising from any interest or involvement in said project or the lands subject to the appraisal. The evaluators for the government may assess solely on the information provided in the submission(s) and will not assume that an offeror possesses any capabilities other than those specified in the proposal. The submission selected, if any, will be that one which, in the opinion of the evaluators, meets or exceeds to the greatest extent all evaluation factors listed in the Solicitation Package. These factors are summarized as follows: Special experience in developing thorough highest and best use, market, supply and demand and absorption analyses for complex mixed use land developments. Experience in the development of the anticipated use method and land residual technique in land valuations including ground leases. National client relationships and the ability to interface with national brokerage, municipal and financial entities relevant to the economic highest and best use analyses of the subject site. Proven capability to provide experienced manpower, materials and facilities to meet time requirements, maintain scheduling flexibility, open lines of communications and the submission of milestone schedules that demonstrate the offeror=s expertise and capabilities. Education and professional designations of principals and subordinates including disclosure of the experience and education of any subcontractor(s) employed to assist and support the offeror=s analysis and conclusions. Technical merit (including that of any subcontracted expertise) that demonstrates experience and education directly related to the appraisal problem will be the basis for the final selection. Once this competitive range is established, those proposals within that range will be subjected to evaluation involving price. Price will not be point scored. This evaluation will take one of the following forms: The superior offer, regardless of cost or price, provided that price is determined reasonable; An acceptable offer, the price or cost of which is not the lowest but which is sufficiently more advantageous than the lowest offer so as to justify the payment of an additional sum. The Purpose Of The Appraisal is to estimate the parcel's fair market value at its highest and best economic use and the fair annual rental value through the use of appropriate and supportable land capitalization of the fee simple value. The successful offeror will submit a COMPLETE APPRAISAL REPORT. All components, rates, costs, assumptions, conditions and conclusions of the report shall be USACE's client and any other authorized reader of the report. All aspects of the report will be subject to a detailed review. In addition, the Income Approach will be subject to an evaluation to determine the durability and accuracy of all aspects of the cash flow analysis. Market value shall be as defined by UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE. In the development of the report the selected firm shall, in addition to any other analyses considered appropriate, incorporate the following in the report: 1. The use of land residual techniques utilizing development and discounted cash flow analyses. 2. Detailed market support for absorption, capitalization, equity dividend and equity yield rates. 3. Detailed engineering/ planning study showing the optimal development of the site consistent with the highest and best use analysis. 4. Detailed and supported costs to develop the site to highest and best use. 5. Market derived and supported financing and equity terms to develop the site. 6. Gross sell-out value of the site as fully developed. 7. All three approaches to value must be considered in this assignment. The Income Approach must include a Discounted Cash Flow Analysis. All estimates and conclusions shall be based on the site=s supportable economic highest and best use. An in-depth feasibility study/ business plan has been completed which will be provided to the successful bidder and should be considered, along with other data deemed appropriate and supportable by the appraiser in the valuation and development of highest and best economic use. The report shall be in complete compliance with UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE (USPAP) as amended. Jurisdictional Exception can not be invoked. USACE recognizes this procurement as a complex appraisal problem requiring the highest levels of expertise, proven capabilities and experience. Independently developed complete Market, Supply and Demand (with market supported absorption) and Highest and Best Use Analyses will be required within the report. All Highest and Best Use Analyses' conclusions shall be for economic uses. So called public interest/ benefit values or any non-economic highest and best use will not be acceptable. The successful bidder may, at its discretion, subcontract such expertise as it deems appropriate and necessary to produce a supportable and credible report. These experts may include, by example, land planners, economic consultants, architectural/ engineering firms, etc., who possess credentials and capabilities to produce design/ build cost estimates; traffic analyses; construction and planning time lines; and indirect development expense estimates that include but are not limited to: development and impact fees; permitting; regulatory site assessments (environmental, historical, pre-historical) and remediation measures as or where required; zoning, planning and architectural submissions; management and administration during construction periods; financing and marketing costs; on and off site infrastructure and utility costs and improvements associated with and/ or as a result of the highest and best use analysis conclusion. In order to comply with Debt Collection Improvement Act of 1996, all contractors must be resitered in the Central Contractor Registration (CCR) to be considered for award of a Federal contract. For information regarding registration, contact (1) CCR Web site at http://www.acq.osd.mil/ec; (2) Dial up modem at 614-692-6788 (User ID: ccrpub; Password: pub2ccri); (3) through any DoD Certified Value Added Network. Additionally, a paper form for registration may be obtained from the DoD Electronic Commerce Information Center at 1-800-334-3414. Posted 04/13/99 (W-SN318644). (0103)

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