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Home My WebLink AboutFY23-24 Real Property Appraisal (Real Estate Appraisal), Medusky & Co., Inc.Medusky&Co., Inc. REAL ESTATE CONSULTANTS QUEEN'S COURT, SUITE 405 • 800 BETHEL STREET HONOLULU, HAWAII 96813 PHONE (808) 531-2765 • FAX (808) 599-3736 EMAIL - medusky®meduskyandce.com June 16, 2023 Via Email(crystallene.pacheco@hawaiicounty.gov) Deanna Sako Director of Finance County of Hawai'i 25 Aupuni Street Hilo, Hawaii 96720 Dear Ms. Sako: Jan R. Medusky, MAI, CRE DA P tCD: JUN 1 5 2023 Subject: Letter of Interest to Provide Professional Real Estate Appraisal Services for Cate or No. 421 forfiscal Year 2023/2024 In response to your Notice to Providers of Professional Services, Medusky & Co., Inc. (formerly known as Cowell & Co., Inc.) is submitting this letter of interest to provide Real Property Appraisal services (Category No. 48) for the July 1, 2023 to June 30, 2024 fiscal year. Our office is located in downtown Honolulu in the Queen's Court building at 800 Bethel Street. Over the past several years, we have employed an average of two (2) full-time employees and one (1) independent contractor. We have been in the real estate business for 40+ years with assignments covering an extensive variety of properties and clients throughout the Pacific Basin. Services provided include appraisal/valuation studies, arbitration, tax appeals, highest and best use/development studies, acquisitional analysis, disposition analysis and market studies- Property types include commercial, industrial, resort hotel, multi -family residential, subdivision, preservation and agricultural. We have previously completed appraisal assignments for the County of Hawaii and believe that we are well qualified to provide real estate appraisal/consulting services for the County of Hawaii in the future. Please find enclosed herein qualifications of key members of our company (Jan R. Medusky, President and Edward W. Becker, Real Estate Appraiser), the State of Hawaii DCCA Certified General Appraiser licenses for said key members, our Certificate of Vendor Compliance and proof of E&O insurance. Item No. 4 of the "Notice to Providers of Professional Services" requests a list of our projects. Please find enclosed herein a list of several recent projects encompassing many different property types. Per your request, listed on a following page are five client contact names for assignments completed within the past year to be used as references. Real Estate Research • Counseling • Valuation • Feasibility • Investments Deanna Sako County of Hawai'i June 16, 2023 Page 2 Chris Yuh Manager of Finance, Risk and Analytics Kauai Island Utility Cooperative 4463 Pahee Street, Ste. 1 Lihue, Hawaii 96766 (808) 246-8281 2. Trevor A. Brown, Esq. Starn O'Toole Marcus & Fisher 733 Bishop Street, Suite 1900 Honolulu, Hawaii 96813 (808) 537-6100 Scott R. Rodie Vice President - Appraisal & Environmental Risk Management Bank of Hawaii Wholesale Credit Administration P.O. Box 2900 Honolulu, Hawaii (808) 694-4556 4. Carolyn Sawyer, MAI Review Appraiser AVSO East Region Office of the Secretary -- U.S. Department of the Interior Atlanta, Georgia (202)579-7473 5. D. Scott MacKinnon, Esq, McCorriston Miller Mukai MacKinnon LLP Five Waterfront Plaza, 4" Floor 500 Ala Moana Boulevard Honolulu, Hawaii 96813 (808)529-7300 We provide a timeline for completion when submitting a proposal for an assignment and we and we strive to adhere to that schedule. As such, there have not been any corrective actions or notices of deficiencies for any of our completed assignments. In most cases, cost control is maintained by estimating a fixed fee for an assignment prior to its commencement. However, if the scope of the assignment cannot be determined prior to commencement, a minimum and maximum fee range is established. When required, additional work is completed based on hourly rates. The current hourly rate for Edward Becker, MAI of and Jan R. Medusky, MAI, CRE is $450 per hour. Deanna Sako County of Hawai'i June 16, 2023 Page 3 If you have any further questions, please feel free to call our office. Thank you for considering Medusky & Co., Inc. for your real estate appraisaUconsulting needs. We look forward to working with you again in the future. Sincerely, MEDUSKY & CO., INC. 7:a n - . Medusky, MAI, CRE President Edward W. Becker, MAI Real Estate Appraiser EWB:cpj Enclosures QUALIFICATIONS OF JAN R. MEDUSKY, MAI. CRE President, Medusky & Co., Inc., Real Estate Consultants Queen's Court, Suite 405, 800 Bethel Street, Honolulu, Hawaii President (1990-1994), Cowell & Co., Inc. Licensed Real Estate Broker, State of Hawaii (License No. RB-16915) Member, Appraisal Institute (MAI), Hawaii Chapter (Certificate No. 7313) Past President, American Institute of Real Estate Appraisers Honolulu Chapter No. 15 Member, The Counselors of Real Estate (CRE) (Certificate No. 2560) Past Chapter Chair, The Counselors of Real Estate Hawaii Chapter Hawaii State Certified General Appraiser (CGA-17) EDUCATION Culver Military Academy, Culver, Indiana. Graduated with honors, 1964-1968. Bachelor of Science Degree, U.S. Military Academy, West Point, New York, 1968-1972. University of Hawaii, Graduate courses in Business and Economics, 1975-1976. Master of Business Administration Degree, Chaminade University of Honolulu, 1980. SPECIAL COURSES Graduate Real Estate Institute, Courses I and II, Honolulu, 1979. Stapleton School of Real Estate, Sales Licensing Course, Honolulu, 1979. Various Appraisal Institute and American Institute of Real Estate Appraisal Courses. Instructor for various seminarsiclasses regarding real estate valuation. MILITARY Captain, U S. Army, 19?2-1978. Held various positions including Commander, Air Defense Artillery Battery and Special Staff Officer, 25' Infantry Division General Staff, Schofield Barracks, Hawaii. EXPERIENCE Engaged in real estate consultation and valuation throughout the Pacific Basin since 1979. Geographical areas covered include the four counties of the State of Hawaii, the Territory of Guam, the Federated States of Micronesia, Republic of the Marshall Islands, Republic of Palau, Saipan, American Samoa and selected locations on the West Coast of the United States Mainland. Specializes in valuation for litigation purposes, tax appeals, leased fee conversions, arbitrations and rent renegotiations. COMMUNITY SERVICE Hawaii Public Radio Board Member (2009 to 2018) ALS Association Golden West Chapter Board Member (2014 to Present) ALS Ohana of Hawaii Past President and Current Secretary (2013 to Present) CGA-17 JAN R MEDUSKY 800 BETHEL ST STE 405 HONOLULU, HI 96813 CERTIFIED GENERAL APPRAISER NOTICE THIS POCKET ID CARD IDENTIFIES YOU TO THE PUBLIC AS BEING CURRENTLY LICENSED AND SHOULD BE KEPT IN YOUR POSSESSION AT ALL TIMES. l Lfoense Number Expiration date GGA-17 12131l2023 VALE OF WM OEPN MENT OF COMMERCE OM CONSUMER AFFAR4 CERTIFIED GENERAL APPRAISER JAN R MEDUSKY [ 800 BETHEL ST STE 405 HONOLULU. HI 96813 I I SIGN URE OF LICENSEE QUALIFICATIONS OF EDWARD W. BECKER, MAI Real Estate Appraiser, Medusky & Co., Inc., Real Estate Consultants Queen's Court, Suite 405, 800 Bethel Street, Honolulu, Hawaii EDUCATION Bachelor of Arts Degree University of Hawaii at Manoa, Honolulu, Hawaii Political Science Major SPECIAL COURSES State Certification Courses Appraising the Single Family Residence Foundations of Real Estate Appraisal Real Estate Appraisal Methods Uniform Standards of Professional Appraisal Practice Appraisal Institute Courses 550 - Advanced Applications 540 - Report Writing and Valuation Analysis 530 Advanced Sales Comparison and Cost Approaches 520 - Highest & Best Use and Market Analysis 510 - Advanced Income Capitalization 430 Standards of Professional Practice, Part C 420 Standards of Professional Practice, Part B 410 - Standards of Professional Practice, Part A Appraisal Institute Seminars/Programs An Introduction to Valuing Commercial Green Buildings Business Practices and Ethics Eminent Domain and Condemnation Appraising Feasibility, Market Value, Investment Timing: Option Value FHA and the Appraisal Process New Industrial Valuation Review Theory - General Site Use and Valuation Analysis Small Hotel/Motel Valuation The Appraiser as an Expert Witness: Preparation and Testimony Uniform Appraisal Standards for Federal Land Acquisitions Valuation of Conservation Easements University of Hawaii at Manoa, Small Business Management Program, Real Estate Licensing Course EXPERIENCE Engaged in real estate consultation and valuation since 1993. Geographic areas covered include the four counties of the State of Hawaii, the Republic of the Marshall Islands, Republic of Korea and American Samoa. Property types include agricultural, industrial, office, preservation, residential, resort, shopping center, subdivision and various other property types. CGA-581 EDWARD W BECKER 370 KUPAUA PL HONOLULU, HI 96821 CERTIFIED GENERAL APPRAISER NOTICE THIS POCKET ID CARD IDENTIFIES YOU TO THE PUBLIC AS BEING CURRENTLY LICENSED AND SHOULD BE KEPT IN YOUR POSSESSION AT ALL TIMES. ---------------- -........................... ..... ..--................. .............. .,_,.., License Number ExplraUon date % CGA-581 12I3112023 STATE OF 10*" EPARTOENT OF 00M*R Nib COxN n Al" CERTIFIED GENERAL APPRAISER F EDWARD W BECKER 370 KUPAUA PL HONOLULU. HI 88821 I � - l SIG TURF OF LICENSEE `---------------------------------------------------- .,,.,.,..,....,......,....,.,......,....,.,c................. . STATE OF HAWAII STATE PROCUREMENT OFFICE CERTIFICATE OF VENDOR COMPLIANCE This document presents the compliance status of the vendor identified below on the issue date with respect to certificates required from the Hawaii Department of Taxation (DOTAX), the Internal Revenue Service, the Hawaii Department of Labor and Industrial Relations (DLIR), and the Hawaii Department of Commerce and Consumer Affairs (DCCA). Vendor Name: MEDUSKY & CO., INC. DBA/Trade Name: MEDUSKY & CO., INC. Issue Date: 06/15/2023 Status: Compliant Hawaii Tax#: 20300900-01 New Hawaii Tax#: FEINISSN#: XX-XXX2098 UI#: XXXXXX9204 DCCA FILE#: 29306 Status of Compliance for this Vendor on issue date: Form Department(s) Status A-6 Hawaii Department of Taxation Compliant 8821 Internal Revenue Service Compliant COGS Hawaii Department of Commerce & Consumer Affairs Compliant LIR27 Hawaii Department of Labor & Industrial Relations Compliant Status Legend: Status Exempt Compliant Pending Submitted Not Compliant Description The entity is exempt from this requirement The entity is compliant with this requirement or the entity is in agreement with agency and actively working towards compliance A status determination has not yet been made The entity has applied for the certificate but it is awaiting approval The entity is not in compliance with the requirement and should contact the issuing agency for more information rn■s�nrls>. LIA 4dminlstrators & Insurance Services APPRAISAL, VALUATION AND PROPERTY SERVICES ASPEN PROFESSIONAL LIABILITY INSURANCE POLICY DECLARATIONS Aspen American Insurance Company (Referred to below as the "Company) 590 Madison Avenue, 7th Floor New York, NY 10022 877 245 3510 Date Issued Policy Number Previous Policy Number 10/6/2022 AAIW'310.08 AAI007310 0- THIS IS A CLAIMS MADE AND REPORTED POLICY. COVERAGE IS LIMITED TO LIABILITY FOR ONLY THOSE CLAIMS THAT ARE FIRST MADE AGAINST THE INSURED DURING THE POLICY PERIOD AND THEN REPORTED TO THE COMPANY IN WRITING NO LATER THAN SIXTY (60) DAYS AFTER EXPIRATION OR TERMINATION OF THIS POLICY, OR DURING THE EXTENDED REPORTING PERIOD, IF APPLICABLE, FOR A WRONGFUL ACT COMMITTED ON OR AFTER THE RETROACTIVE DATE AND BEFORE THE END OF THE POLICY PERIOD PLEASE READ THE POLICY CAREFULLY. 1. Customer ID: 135056 Named Insured: MEDUSKY & CO., INC. 800 Bethel St., Suite 405 Honolulu, HI 96813 2. Policy Period: From: 11/10/2022 To: 11/10/2023 12:01 A M Standard Time at the address stated in 1 above. 3. Deductible: $1000 Each Claim 4, Retroactive Date: 09/09/1995 5. inception Date: 11/10/2015 6. Limits of Liability: A. $1,000,000 Each Claim B. $2,000,000 Aggregate Subpoena Response: $5,000 Supplemental Payment Coverage Pre -Claim Assistance: E5,000 Supplemental Payment Coverage Disciplinary Proceeding: $12,500 Supplemental Payment Coverage Lass of Earnings: ESP', per day Supplemental Payment Coverage 7, Covered Professional Services (as defined in the Policy and/or by Endorsement): Real Estate Appraisal and Valuation- Yes X No Residential Property: Yes X No Commercial Property: Yes X No Bodily Injury and Property Damage Caused During Appraisal Inspection ($100,000 Sub -Limit): Yes X No f "yes", added by endorsement; Right of Way Agent and Relocation: Yes No X Machinery and Equipment Valuation: Yes No X Personal Property Appraisal: Yes No X 9f "yes", added by endorsement) Real Estate Sales;Brokerage: Yes No X f "yes", added by endorsement'. Aspen American Insurance Compam' Page 1 of 2 LIA0D1 (04/19 CERTIFICATE OF INSURANCE Pr. duLer Issue Date' 10.f)6 2022 'Ibis Certificate is issued as a matter of information onh and LIA ADMINIS 1'RA IORS 8c INSt RANCE S: RVICLS confers no rights upon the Certificate Holder, This Certificate P.O Box 13 : g does not amend. e\tend or alter the coverage afforded by the Santa Barbara, CA 93102-' 319 polio below. Insured; 1,15056 COMPANY AFFORDING COVERAGE MEDUSKY 8c CO., INC. 8W Bethel St_, Suite 405 Aspen American Insurance Company I lonolulu, I'll 96813 1=a,� Number 808-599-3736 •L� Authorized Representative Tliis is to certify that the policy' of insurance listed belo" has been issued to the Insured named above for the policy period indicated Nowithslandmg any requirement, term ofcondition of anv contract or other document with respect to which this Certificate may be iSSILCt1 or aw' pertain, the insurance afforded by the policy described herein is Subject to all the terms, exclusions and conditions of,uch police. 1.itnits shown nuay have been reduced be paid clninui. DISCLAIMER: ThIS ccrttficate of ittsttrance doe, not atlinnatively or negatively amend. extend, or alter the coverage aftbrded b% the insurance p ohcy T)TF. OI' INSVII.1NCli POLICY NUMBER FITS( VP, D_1TF. I:\PIRATION D_1TL LIMITS Prolo%%ional I tabilit\ \ 1[00'310-08 11 102022 1110 2023 Each Claim S 1.000.000 General .lggregate S 2.000.000 Deuription of Operations/Locations/Special Items Professional Sen'ices as defined in the polic% Certificate Holder: Cancellation: ME -DUSKY & CO., INC. SHOULD ANY OF THE ABOVE DESCRIBED POLICIES WO Bethel St. Suite 405 BE CANCELLED BEFORE THE EXPIRATION DATE Honolulu. H] 96813 THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. LIA0001 (11/97) Insured Copy MEDUSKY & CO., INC. 800 BETHEL STREET QUEEN'S COURT, SUITE 405 HONOLULU HAWAII 96813 PAST ASSIGNMENTS 1. Property Type: Oceanfront Land Client: Case Lombardi TMK: (3) 7-1-3-4, 5, 6 & 11 Date of Assignment: 01i24;`23 Nature of Assignment: Appraisal Services Regarding Oceanfront Land at Kapalaoa Beach, Waikoloa, Island of Hawaii, Hawaii 2. Property Type: Agriculture Land Client: Hawaii Land Trust TMK: (3) 5-7-2-11 et al. Date of Assignment: 07/27,`22 Nature of Assignment: Appraisal Report Regarding Properties at Mahukona, North Kohala, Hawaii, Hawaii 3, Property Type: Use and Occupancy Agreement Client: Sea Engineering TMK: (1) 3-9-2-31 Date of Assignment: 0114/22 Nature of Assignment: Appraisal Services Regarding Market Value of a Use and Occupancy Agreement for Perpetual Non -Exclusive Maintenance Purposes, Kalanianaole Highway, Maunalua, Honolulu, Oahu, Hawaii 4. Property Type: Commercial Land Client: Agribusiness Development Land TMK: (1) 7-4-12-5 Date of Assignment: 02/07/23 Nature of Assignment: Appraisal Services Regarding Fair Market Value for Commercial Land, Wahiawa, Oahu, Hawaii 5. Property Type: Client: TMK: Date of Assignment: Nature of Assignment: 6. Property Type: Client: TMK: Date of Assignment: Nature of Assignment: Commercial Improvements Lyons, Brandt, Cook & Hiramatsu (1) 1-5-38-1 09/08/22 Appraisal Services Regarding Pacific Shipyards Property, Piers 24 & 25, Honolulu Harbor, Honolulu, Oahu, Hawaii Telecommunication Site Kauai Island Utility Cooperative (3) 1-2-2-30 et al. 04/26/22 Appraisal Services Regarding Market Rent Regarding Mana Substation Sites and Transmission Line Easements, Kekaha, Waimea, Kauai, Hawaii MEDUSKY & CO., INC. 800 BETHEL STREET QUEEN'S COURT, SUITE 405 HONOLULU, HAWAII 96813 7. Property Type: Commercial Property Acquisition Client: Lalakea Family Holdings & Trusts TMK: NIA Date of Assignment: O 1 i 11 r 22 Nature of Assignment: Counseling Regarding Real Estate Acquisition After Sale of Commercial Property, Honolulu, Hawaii 8. Property Type: Conservation Easement Client: Hawaii County TMK: (3) 5-7-2-11 et al. Date of Assignment: 07/22/22 Nature of Assignment: Appraisal Report Regarding Conservation Easement at Mahukona, North Kohala, Hawaii, Hawaii 9. Property Type: Industrial Client: American Land Co., Ltd. TMK: (1) 9-9-73-19 et al. Date of Assignment: 01'08l22 Nature of Assignment: Appraisal Services Regarding Regarding Leasehold Industrial Property, Halawa, Oahu, Hawaii 10. Property Type: Multi -Family Client: Manago Hotel TMK: (3) 8-2-15-19 Date of Assignment: 10/07-22 Nature of Assignment: Appraisal Report Regarding Manago Hotel Property, KeaIakekua, South Kona, Island of Hawaii, Hawaii 11. Property Type: Single -Family Residential Client: McCorriston Miller Mukai MacKinnon TMK: (1) 7-1-11-2 et al. Date of Assignment: 11 i 09/22 Nature of Assignment: Appraisal Report Regarding Kaala Subdivision, Wahiawa, Oahu, Hawaii 12. Property Type: Estate Landholdings Client: Department of the Interior TMK: (2) 1-7-4-4 Date of Assignment: 04;`21 .12 Nature of Assignment: Appraisal Services Regarding Kaupo Ranch, Hana, Maui, Hawaii