Loading...
HomeMy WebLinkAboutFN.13 - JOHN, CHILD & COMPANYStatement of Qualifications of JOHN CHILD & COMPANY to provide Professional Real Estate Appraisal and Consulting Services June 2024 1441 Bishop Street, Suite 2115 • Honolulu, Hawaii 96813 T 808.533.2951 • email: info@johnchild.com June 27, 2024 Ms. Diane Nakagawa Director of Finance County of Hawaii 25 Aupuni Street, Suite 2103 Hilo, Hawaii 96720 Crystallene.Pacheco@hawaiicounty.gov Dear Ms. Sako: Re: Notice to Providers of Professional Services Fiscal Year 2024 - 2025 REAL ESTATE APPRAISAL As requested in the Notice to Providers of Professional Services, John Child & Company is pleased to submit this letter of interest and qualifications to provide professional appraisal and consulting services to County of Hawaii. This letter summarizes information about the Company and provides names of clients who may be contacted. The qualifications of the Company and resumes of its professional team are attached. We are qualified to provide professional real estate and consulting services that may be required by the County of Hawaii during the fiscal year 2024 - 2025. JOHN CHILD & COMPANY A. John Child & Company has been established in Hawaii since 1937. Our principal place of business and sole office is at 1441 Bishop Street, Suite 1115, Honolulu, Hawaii 96814. B. Our Company is more than 80 years old. For the past 5 years we have employed an average of about 5 full-time employees. C. The qualifications of the Company and resumes of its professional team are attached. CLIENT REFERENCES D. We are pleased to have provided professional services to a number of clients. We have provided services for the following clients: Karen Char, MAI, CRE Paul D. Cool, MAI, CRE Shelly H. Tanaka, MAI, AI-GRS Cooper Borge Ms. Deanna Sako June 27, 2024 Page 2 Client contact Address Phone number Lea Hong Hawaiian Islands Program Director The Trust for Public Land 1003 Bishop Street, Suite 740 Honolulu, Hawaii 96813 (808) 524-8563 Wm. Rhett Taber Trustee Mark A. Robinson Trusts 1100 Alakea Street, Suite 600 Honolulu, Hawaii 96813 (808) 440-2733 Kevin Greenwell Kamehameha Schools 567 South King Street, Suite 200 Honolulu, Hawaii 96813 (808) 523-6200 Hamana Ventura Property Manager & Division Head County of Hawaii Department of Finance Property Management Division 25 Aupuni Street, Suite 1101 Hilo, Hawaii 96720 (808) 961-8069 Recent assignments completed for the County of Hawaii have included:  Kiolakaa Conservation Easement (2022)  Haloa Aina Forest Legacy Program Conservation Easement (2022)  Pahala Wastewater Treatment Plant (2021)  Kaunamano, Ka’u Conservation Easement (2021)  81-6245 Mamalahoa Highway, Hokulia Bypass Project (2020)  Mass Transit Hub property, 15-3070 Pahoa-Kapoho Road (2019)  Waikapuna Conservation Easement (2019). * * * * * Ms. Deanna Sako June 27, 2024 Page 3 We appreciate having the opportunity to be considered to provide professional real estate appraisal and consulting services to the County of Hawaii. Please call us if you have any questions. Sincerely, JOHN CHILD & COMPANY, INC. Shelly H. Tanaka, MAI, AI-GRS Vice President st@johnchild.com ST/gaq Encl. STATEMENT OF QUALIFICATIONS FOR JOHN CHILD & COMPANY TABLE OF CONTENTS SCOPE OF PROFESSIONAL SERVICES Corporate Background Scope of Professional Services Real Estate Appraisal and Consulting Business Valuation REPRESENTATIVE ASSIGNMENTS Real Estate Appraisal and Consulting Business Valuation CLIENTS Private Industry Non-profit Organizations Public Agencies CERTIFIED GENERAL APPRAISERS CERTIFICATES PROFESSIONAL TEAM QUALIFICATIONS SCOPE OF PROFESSIONAL SERVICES Qualifications of John Child & Company 1 Background John Child & Company is a professional corporation that specializes in real estate appraisal and consulting and business valuation. It is the only company in Hawaii with expertise and professional designations in both real estate appraisals and business valuations. John Child & Company was established by John F. Child, Jr. in 1937. The Company was the first firm to specialize in market research in Hawaii. Since 1937, the Company has provided critical knowledge of real estate market conditions and trends gained from the strength of its market research. As a result, its clients have confidence that John Child & Company real estate appraisal and business valuation assignments are based on competent analysis and careful documentation, and its consulting assignments focus on the key issues and provide sound alternatives. The Company’s professional team members’ past and current local, regional, and national leadership positions in their professional organizations help to establish and promote the highest standards of professional practice and ethics for the industry. Real Estate Appraisal and Consulting The Company's real estate consulting and appraisal practice includes a range of specialized services covering real estate in Hawaii and the Pacific area. Professional services include:  Valuation of real estate  Litigation support  Arbitration  Market rent analysis  Highest and best use studies  Market and financial feasibility analyses  Economic and fiscal impact assessments  Purchase price allocation. Its assignments include all types of real estate interests such as fee simple, leasehold, leased fee, and other partial rights and fractional interests. Its assignments cover a variety of land uses and property types, including:  Office buildings and commercial property  Industrial property  Telecommunications facilities  Hotels and resort properties  Agricultural, conservation, and vacant land  Conservation and other easements  Shopping centers and retail facilities  Residential developments (single family, multifamily, and condominium)  Master-planned and mixed-use projects  Golf courses  Healthcare facilities SCOPE OF PROFESSIONAL SERVICES Qualifications of John Child & Company 2  Redevelopment projects  Special-purpose property. Business Valuation The Company's business valuation practice focuses on the valuation of closely-held businesses, including controlling and minority interests in corporations, partnerships, limited liability companies, and family limited partnerships. Its business valuation practice provides assistance in:  Estate planning  Tax reporting  Mergers, acquisitions, and sales  Stock transfers and redemptions  Financial reporting  Internal accounting  Litigation support. REPRESENTATIVE ASSIGNMENTS Qualifications of John Child & Company 1 The Company has provided real estate appraisal and consulting and business valuations for more than 80 years. Real Estate Appraisal and Consulting The Company's real estate appraisal and consulting practice covers a variety of properties and property interests. Real estate interests include fee simple, leasehold, leased fee, and other partial rights and fractional interests. Representative projects are listed as follows: Redevelopment Aloha Tower Honolulu Waterfront Master Development Plan Kakaako Redevelopment Plan Kakaako Waterfront Park Kapalama Development Complex Pawaa Redevelopment Masterplan Puck’s Alley/Moiliili Gateway Resorts Hualalai Ka’anapali North Beach Kapalua Kauai Lagoons Ka’upulehu Kiahuna Plantation Ko Olina Makena Manini'owali Mauna Kea Princeville Turtle Bay Waikoloa Beach Resort Wailea Resort Hotels Embassy Suites Ka’anapali Four Seasons Resort Hualalai Halekulani Hotel Hilton Hawaiian Village Hotel Hana Maui Hyatt Regency Maui Hyatt Regency Waikiki Kahala Hilton Kea Lani Hotel Koa Kea Hotel King Kamehameha Kona Beach Hotel Kona Village Maui Marriott Maui Prince Princeville Hotel Sheraton Kauai Resort Sheraton Waikiki W Hotel Wailea Beach Resort Waikiki Resort Hotel Shopping Centers Ala Moana Aloha Tower Marketplace Coconut Grove Downtown Kihei (proposed) Ewa Pointe Marketplace Hawaii Kai Shopping Center Hawaii Kai Towne Center Kahala Mall Center Kamehameha Shopping Center Keauhou Shopping Center Keeaumoku Shopping Center King’s Village Koko Marina Kukui Mall Lanihau Center Mililani Nimitz Business Center Pearl City Pearl City Shops Pearl Kai Center Piilani Shopping Center Princeville Royal Hawaiian Wailea Shopping Village Windward City Windward Mall REPRESENTATIVE ASSIGNMENTS Qualifications of John Child & Company 2 Golf Courses Asahi Kanko Olomana Course Dunes at Maui Lani Hawaii Country Club Hawaii Kai Golf Course Ka’anapali Kauai Lagoons (Kiele and Lagoons) Ko Olina Mid-Pac Country Club Pearl Country Club Princeville (Makai and Prince) Sandalwood Golf Course Silversword Golf Course Waikapu Country Club Waikele Golf Course Waikoloa (Kings) Waikoloa Village (two proposed) Wailea (Blue, Emerald, and Gold) Office Buildings 1164 Bishop Aina Haina Professional Building Ala Moana Building Ala Moana Pacific Center Amfac Towers ANA Kalakaua Center Arcade Building C. Brewer Building Castle Professional Center Commerce Tower Davies Pacific Center Financial Plaza of the Pacific Grosvenor Center Harbor Court Hawaii National Bank Hawaiian Life Building HMSA Building James Campbell Building Kailua Professional Center I and II Leilehua Building Pan Am Building Waialae Building Waikiki Bank of Hawaii Building Waikiki Trade Center Industrial Properties Airport Industrial Subdivision Airport Trade Center Barbers Point Bougainville Bougainville Commercial Center Campbell Industrial Park Ewa Drum & Varona Village Halawa Center Halawa Industrial Subdivision Hawaii Business Center Honokohau Harbor Iwilei & Iwilei Business Center Kalaeloa Kapolei Business Park Kona Industrial Subdivision La Tour Plaza Lihue Industrial Park Makalapua Business Center Manana Mapunapuna Mill Town Panasonic/Technics Center Pier 38 Domestic Commercial Fishing Village Sand Island Business Park Waiau Waikele Storage Park Waipahu Waipio Business Center Residential Discovery Bay Ewa by Gentry Harbor Court Honolulu Park Place Imperial Plaza Kalele Kai Kamaole Heights Kamehame Ridge Ko Olina Fairways Lahaina Residential Makakilo Maui Eldorado Mawaena Kai Mililani Napili Kai Nauru Tower One Archer Lane Royal Capitol Plaza Royal Kuhio The Kahala Beach The Kalia, Inc. Uplands at Mauna Kea Victoria Tower Village Park Vineyard Court Wailea Golf Vistas Wailea Pualani Estate Yacht Harbor Tower REPRESENTATIVE ASSIGNMENTS Qualifications of John Child & Company 3 Healthcare Adventist Health Arcadia Retirement Residence Castle Medical Center Clinical Laboratories of Hawaii Diagnostic Laboratories Services Hale Mahaolu Hawaii Health Care Systems Corporation Kahuku Medical Center Kapiolani Medical Center for Women and Children Kauai Care Center Pali Momi Medical Center Palolo Chinese Home Ponds at Punalu’u Queen’s Health Systems Regency at Hualalai Roselani Place St. Francis Healthcare Systems Straub Hospital & Clinic Waianae Coast Comprehensive Health Care Center Wilcox Agricultural, Conservation, and Conservation Easements Campbell Palehua and Kahe Ranch Dunbar Ranch Galbraith Trust Lands Hana Ranch Honouliuli Forest Reserve Kainalu Ranch Kalauao Valley Kanepuu Conservation Easement Kaupo Ranch Wai’u and Nu’u Lands Kealia Pond Kona Forest Unit Access Kuamo’o Point Kukaiau Ranch Conservation Easement Lipoa Point Maka’alae Conservation Easement May’s Landing McCandless Ranch Conservation Easement Moanalua Valley Palmyra Atoll Paradise Park Ponoholo Ranch Pupukea Property Conservation Easement Pu’u O Hoku Ranch Turtle Bay Ulupalakua Ranch Conservation Easements Waikapuna Waimea Valley Wao Kele O Puna Special Purpose Cemeteries/Memorial Parks Chinese Cultural Plaza Churches Convents Condominium and Residential Lease-to-Fee Conversions Hawaii Newspaper Agency Building Hawaiian Home Land Claims Kapaa Land Fill Kaumalapau Harbor NAS Barbers Point Electrical Distribution System Oahu Club Outrigger Canoe Club Quarries Schools State of Hawaii Airports Telecommunications sites Tokai University Visitor attractions Wedding chapels Business Valuation The Company's business valuation practice focuses on closely-held businesses in Hawaii. Business valuation assignments typically estimate the market value of controlling and minority interests in closely-held corporations, limited liability companies, and partnerships that own real estate. These assignments are prepared to assist in estate planning and estate and gift tax reporting to the Internal Revenue Service, litigation, mergers, stock repurchase/redemptions, and acquisitions. REPRESENTATIVE ASSIGNMENTS Qualifications of John Child & Company 4 Valuations of closely-held businesses include: Aala Produce, Inc. Aaron Properties Partners of Hilo Advanced Fresh Concepts Food Service Baruch Bakar BFFP Incorporated Beth-El Associates Caroline J. Robinson LLC CGB Partners Dowling Company, Inc. Fernandez Properties Finance Investment, Ltd. Gay & Robinson, Inc. Hawaii Aina Management Honolulu Open Medical Imaging, LLC Industrial Investors, Inc. Jas W. Glover Holding Company, Ltd. J.L.P. Robinson LLC K. Inouye Properties, Inc. Kaha Kai LLC Kamali’i Family Limited Partnership K.J.L. Associates KSM Associates LLC KVH Partners Lanihau Properties LLC Leong Brothers Livingston Family Limited Partnership Loyalty Associates Loyalty Development Company, Ltd. Loyalty Enterprises, Ltd. Loyalty Investments Maui Quest, LLC MLB Inc. Palani Ranch Company, Inc. Pawaa Court LLC Pohaku Koloa Ponoholo Ranch Limited Robinson Kunia Land LLC Royal Phoenix Corporation SCF Limited Partnership Second City Property Management Sen Plex Corporation SSFM Engineers Taihook Associates Taira Family Limited Partnership The Mark A. Robinson Trusts CLIENTS Qualifications of John Child & Company 1 The Company provides professional services to a range of clients representing private, non-profit, and public interests. Selected clients are listed. PRIVATE INDUSTRY Attorneys Ashford & Wriston Bendet Fidell Cades Schutte Carsmith Ball Case & Lynch Case Lombardi & Pettit Chun Kerr Cox Wooten Lerner Griffin & Hansen Crockett & Nakamura Damon Key Leong Kupchack Hastert Dentons Ekimoto & Morris Goodsill Anderson Quinn & Stifel Huilin Dong, Attorney at Law Imanaka Asato Ing Horikawa & Jorgensen Kobayashi Sugita & Goda Law Offices of Thomas Watts Lung Rose Voss Wagnild MacDonald Rudy O’Neill & Yamauchi McCorriston Miller Mukai McKinnon Ning, Lily & Jones Oshia Chuh Fong & Chung Price Okamoto Himeno & Lum Rush Moore Schneider Tanaka Radovich Andrew & Tanaka Settle Law Starn O’Toole Marcus & Fisher Tom Petrus & Miller Torkildson Katz Moore Hetherington & Harris Tsugawa Biehl Lau & Muzzi Van Buren & Shimizu, LP Wagner Choi Verbrugge Watanabe Ing LLP Banks/Lenders American Savings Bank Bank of Hawaii Central Pacific Bank Citibank, N.A. First Hawaiian Bank Hawaii National Bank The Chuo Mitsui Trust & Banking Co., Ltd. The Industrial Bank of Japan, Ltd. The Long-Term Credit Bank of Japan, Ltd. Wells Fargo Bank Closely Held Corporations/Limited Partnerships/Family Trusts Baruch Bakar and Beth-el Associate BFFP Incorporated Caroline J. Robinson LLC Gay & Robinson Hawaii Aina Management Co. LL Jas. W. Glover Holding Company, Ltd. J.L.P. Robinson LLC Kaha Kai LLC Kamalii Family Limited Partnership K.J.L. Associates KVH Partners and CGB Partners Knudsen Trusts Lanihau Properties, LLC Leong Brothers Livingston Family Limited Partnership Loyalty Development Loyalty Investments Maui Quest LLC MLB, Inc. Norman & Amy Hirohata-Goto LLC Nua Family Limited Partnership Palani Ranch Pawaa Court LLC Pohaku Koloa LLC CLIENTS Qualifications of John Child & Company 2 Closely Held Corporations/Limited Partnerships/Family Trusts, Continued Ponoholo Ranch, Limited Royal Phoenix Corporation SCF Limited Partnership Second City Property Management Inc. Sen Plex Corp. Sheridan Ing Marital Trust Taira Family Limited Partnership The Mark A. Robinson Trusts WBL, Inc. Developers/Landowners A&B Properties, Inc. Aloha Tower Associates Bedford Properties, Inc. (fka Kaiser National Housing Corporation Development Company) Cuzco Development U.S.A. LLC Dole Food Company Dowling Company, Inc. Elleair Hawaii, Inc. Finance Realty Gentry Companies Hana Ranch Partners Hanalei Land Company Haseko (Hawaii), Inc. Hemmeter/Tokyu Waterfront Joint Venture James Campbell Company Kamehemeha Schools Kaneohe Ranch Kapolei Property Development, LLC Krausz Properties McCandless Land & Cattle Company MW Group, Ltd. Niu Pia Farms Pauahi Management Corp. Queen Emma Land Company Sam Koo Pacific, LLC Tesoro Hawaii Corporation Ulupalakua Ranch Inc. Resort Operators/Owners Alpha U.S.A., Inc. Kapalua Land Company, Ltd. Kaupulehu Makai Venture (Hualalai Resort) Namalu LLC (Makena Resort) Princeville Development Company Shinwa International Turtle Bay Resort Wailea Resort Company, Inc. Retailers 7-Eleven (Hawaii), Inc. Alakai Mechanical Corporation Kyotaru International McDonald’s Restaurants of Hawaii Pint Size Corporation Safeway, Inc. Sears Holding Corporation Trust Companies and Trusts Bank of Hawaii Trust Department First Hawaiian Trust Hawaiian Trust Co., Ltd. Knudsen Trusts Lili’uokalani Trust Mark A. Robinson Trusts NON-PROFIT ORGANIZATIONS Adventist Health Bobby Benson Center Castle Medical Center Chaminade College Hawaii Conference Foundation Hawaii Health Systems Corporation CLIENTS Qualifications of John Child & Company 3 NON-PROFIT ORGANIZATIONS, Continued Hawaii Opera Theatre Hawaii Pacific Health Hawaii Pacific University Honolulu Community Action Program, Inc. (HCAP) Iolani School Japan Association of Real Estate Appraisers Kahuku Medical Center Kamehameha Schools KCAA Pre-Schools of Hawaii Manoa Valley Theatre Maui Coastal Land Trust National Tropical Botanical Garden Pacific Buddhist Academy Punahou School Queen’s Health Systems Segull Schools, Inc. The Fathers of the Sacred Hearts The Sisters of the Sacred Hearts St. Francis Healthcare Systems of Hawaii The Nature Conservancy The Trust for Public Land Waianae Cost Comprehensive Center Young Women's Christian Association (YWCA) PUBLIC AGENCIES Bank Regulatory Agencies Federal Depository Insurance Corporation (FDIC) Federal Home Loan Bank Board (FHLBB) City & County of Honolulu Honolulu Authority for Rapid Transportation Honolulu Public Transit Authority Department of Housing and Community Development Department of Design and Construction Department of the Corporation Counsel County of Hawaii Department of Finance Department of Public Works County of Kauai Department of Water Federal Agencies Internal Revenue Service National Business Center, Appraisal Services Directorate U.S. Attorney General U.S. Department of Agriculture, Forest Service U.S. Department of Agriculture, Natural Resource Conservation Service U.S. Department of the Army U.S. Department of the Navy U.S. Department of Interior, Fish & Wildlife Service CLIENTS Qualifications of John Child & Company 4 Utilities Aloha Solar Energy Fund Citizens Utilities Company – Kauai Electric D.R. Fortress Eurus Energy America Corporation Hawaiian Electric Industries (HEI, Inc.) Pacific Resources, Inc. State of Hawaii Attorney General Department of Hawaiian Home Lands Department of Land & Natural Resources Department of Transportation Hawaii Community Development Authority Hawaii Housing Finance and Development Corporation Office of Hawaiian Affairs John Child & Company CERTIFIED GENERAL APPRAISERS CERTIFICATES Paul D. Cool, MAI, CRE Vice President Shelly Tanaka, MAI, AI-GRS Vice President PROFESSIONAL TEAM QUALIFICATIONS Qualifications of John Child & Company 1 The professional team has a wide range of real estate experience gained through a variety of field experience, professional accomplishments, training, and education. Team members have earned their reputation for quality work and professional service. Professional Designations Team members hold designations earned from the major professional organizations. Team members have earned the MAI and AI-GRS designations from the Appraisal Institute, the CRE (Counselor of Real Estate) from The Counselors of Real Estate, ASA (Accredited Senior Appraiser) from the American Society of Appraisers, and CCIM designation from the CCIM Institute. State Certification Members of the professional team are Certified General Appraisers under the State of Hawaii license and certification program. Other Qualifications and Training Professional team members are qualified as expert witnesses in the courts of Hawaii; actively participate in and serve as arbitrators and review appraisers; and continue to attend courses, seminars and workshops to strengthen their own specialized appraisal skills and education. Professional Team Members Professional team members include:  Paul D. Cool, MAI, CRE, Vice President  Shelly H. Tanaka, MAI, AI-GRS, Vice President  Cooper Borge, Real Estate Analyst The education and professional experiences of team members are outlined in their accompanying resumes. QUALIFICATIONS OF JOHN CHILD & COMPANY PAUL D. COOL, MAI, CRE Vice President Paul joined John Child & Company in 1972. He has appraised property on all the major islands in Hawaii. With this perspective, Paul understands the cyclical nature of Hawaii’s real estate markets. Education  Bachelor of Business Administration, Business Economics and Quantitative Methods, University of Hawaii, 1980  Successfully completed various courses, workshops, and seminars, including:  Appraisal Institute, National USPAP Update Course, 2023  Appraisal Institute, Marketability Studies: Six Step Process and Basic Applications, 2023  Appraisal Institute, Fundamentals of the Uniform Standards for Federal Land Acquisition, 2021  Appraisal Institute, Business Practices and Ethics, 2020  Appraisal Institute, Valuation of Conservation Easements, 2018  Appraisal Institute, Uniform Appraisal Standards for Federal Land Acquisitions, 2017  Appraisal Institute, Complex Litigation Appraisal Case Studies, 2014  Appraisal Institute, IRS Valuation, 2012 Professional Associations  Member, Appraisal Institute (MAI designation)  President, Hawaii Chapter, 2001  Director, 2014 - 2016  Member, The Counselors of Real Estate (CRE designation)  Chairperson, Hawaii Chapter, 2012, 2001  Treasurer, Hawaii Chapter, 2009, 2020 through 2023  Alternate Chief Delegate, 20th Pan Pacific Congress - Auckland, New Zealand, 2000  Alternate Chief Delegate, 19th Pan Pacific Congress - Singapore, 1998 Other Real Estate Associations  Member, Hawaii Chapter of NAIOP (NAIOP Hawaii)  Vice President, Hawaii Chapter, 2015 - 2019  President, Hawaii Chapter, 2002  Director, Hawaii Chapter, 2011-2014 Public Service  Advisory Committee Member, Regulated Industries Complaints Office, Department of Commerce and Consumer Affairs, State of Hawaii, 2004 - 2023  Chair, Real Estate Appraiser Advisory Committee, Professional & Vocational Licensing Division, Department of Commerce and Consumer Affairs, State of Hawaii, 2007 - 2015  Member, City & County of Honolulu Leasehold Conversion Task Group, 2004 QUALIFICATIONS OF JOHN CHILD & COMPANY PAUL D. COOL, MAI, CRE Page 2 Vice President Publications  Paper presented to the 19th Pan Pacific Congress of Real Estate Appraisers, Values, and Counsellors, “Leasehold Home Ownership on Oahu, Hawaii: Long Term Influence on Value and Marketability,” 1998  Paper presented to the 20th Pan Pacific Congress of Real Estate Appraisers, Values, and Counsellors, “Resort Residential Investment in Hawaii: Recovery of a Market,” 2000 Professional Experience  Vice President, John Child & Company, Inc. (1972 to present) Professional Designation  The Appraisal Institute conducts a voluntary program of continuing education for its designated members. Members who meet the standards of this program are awarded periodic educational certification. Paul D. Cool, MAI is certified under this program. State Certification  Certified General Appraiser, State of Hawaii, License Number CGA-71, expiring December 31, 2025. Court Testimony  Qualified as an expert witness in the valuation of real property in the Courts of the State of Hawaii. QUALIFICATIONS OF JOHN CHILD & COMPANY SHELLY H. TANAKA, MAI, AI-GRS Vice President Shelly estimates the value of closely-held businesses and real estate in Hawaii. Because of her expertise in both real property and business valuation, she is able to effectively assist clients with their estate planning and gifting decisions, tax reporting, acquisitions and mergers, stock transfers and redemptions, and purchase price allocations. Shelly's real estate valuations include resort, commercial, industrial, residential, agricultural, and conservation properties on Oahu, Maui, Kauai, and Hawaii. Assignments have included appraisals of conservation and right-of-way easements, hospitals, and other complex or limited-market properties, as well as market assessments, feasibility analyses, and fiscal and economic impact studies for a variety of projects including senior living facilities, hotels, shopping centers, residential subdivisions, and two master-planned communities on Oahu and Maui. She has served as a mediator, arbitrator and expert witness for numerous assignments, and has worked on several class-action lawsuits providing complex and timely analysis to assist in trial preparation and settlement negotiations. Education  Master of Business Administration, University of Hawaii at Manoa, 1998  Bachelor of Arts, Psychology, University of California at Los Angeles, 1994  Iolani School, 1990  Various courses, workshops and seminars including:  Appraisal Institute, Uniform Appraisal Standards for Federal Land Acquisitions, 2017  Appraisal Institute, General Review Theory, 2014  Appraisal Institute, Complex Litigation Appraisal Case Studies, 2014  Appraisal Institute, Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets, 2012 Professional Designations The Appraisal Institute conducts voluntary programs of continuing education for its designated members. The MAI Membership designation is held by professionals who can provide a wide range of services relating to all types of real property, such as providing opinions of value, evaluations, review, consulting and advice regarding investment decisions, among others. The AI-GRS Review designation is conferred upon professionals who have demonstrated the knowledge and skills needed to provide appraisal reviews for a wide range of property types in order to satisfy issues related to due diligence and risk management. Shelly H. Tanaka, MAI, AI-GRS is designated under both programs. State Certification  Certified General Appraiser, State of Hawaii, License Number CGA-648, expiring December 31, 2025. QUALIFICATIONS OF JOHN CHILD & COMPANY SHELLY H. TANAKA, MAI, AI-GRS Page 2 Vice President Court Testimony  Qualified as an expert witness in the valuation of real property and business valuation in the Courts of the State of Hawaii. Professional Associations  Appraisal Institute  National Board of Directors, 2017 – 2020  National Finance Committee, 2018 – 2021  Women’s Initiative Committee, member, 2020  Region VII Finance Chair, 2014 – 2015  President, Hawaii Chapter, 2014  Appraisal Institute Education and Relief Foundation - Chair of the Board of Directors, 2019 – 2021 - Director, 2022  Appraisal Institute Education Trust, Trustee and Vice Chair, 2017 - 2018 Other Service  The Appraisal Foundation, Board of Trustees, 2022 – 2024  Audit Chair, Executive Committee, 2023  Real Estate Appraiser Advisory Committee, Professional & Vocational Licensing Division, Department of Commerce and Consumer Affairs, State of Hawaii, 2016 - 2023  Chair, 2021 – 2023  Vice Chair, 2019 – 2020  Hawaii Appleseed Center for Law and Economic Justice, Board of Directors, 2019-2021 QUALIFICATIONS OF JOHN CHILD & COMPANY COOPER BORGE Real Estate Analyst Cooper provides data research and analysis for various real estate assignments. His valuation assignments have covered industrial land and warehouses, agricultural lands, apartment projects, single-family lots and condominium apartments, and utility easements on Hawaii island and Oahu. He has also assisted with market rent surveys for limited-market properties including hospital specialist space and preschools. Education  Bachelor of Science, Kinesiology and Rehabilitation Sciences, University of Hawaii at Manoa, 2016  Moanalua High School, 2011  Appraisal Institute, Basic Appraisal Principles, 2022 Professional Experience  Analyst, John Child and Company, Inc., 2023 – present  Service Account Manager, Heide & Cook, 2020 – 2023