Real Estate Appraisal and Valuation Services, Statewide

The Arizona Department of Transportation (ADOT) Master Agreement CTR054964 is a statewide Indefinite Delivery Vehicle (IDV) for Real Estate Appraisal and Valuation Services. The contract covers professional appraisal services across multiple Arizona counties, including Maricopa, Pima, Pinal, and 13 other counties. The IDV encompasses two primary service categories: General Appraisal/Review Appraisal and Billboard/Outdoor Advertising Appraisal. Services are specifically focused on eminent domain acquisitions, property dispositions, and appraisal review, with appraisers required to follow Uniform Standards of Professional Appraisal Practice (USPAP), ADOT Right of Way Procedures Manual, and federal acquisition regulations.

The master agreement is awarded to Dennis L. Lopez and Associates, LLC, a Tempe-based real estate appraisal firm, with an initial contract period from May 7, 2021, to May 6, 2022. The contract has been subsequently amended four times, extending the performance period through May 6, 2026. As a statewide contract, it allows for on-call appraisal services upon ADOT's request, with multiple contract extensions possible. The contract type is a master agreement with provisions for potential annual price increases capped at 5-20% depending on the renewal period. Professional liability insurance coverage of $2,000,000 per claim is maintained throughout the contract's duration, ensuring comprehensive protection for the appraisal services provided.