ATTACHMENT_02_-_140P8625Q0037_-_SOW.pdf

RFQ# 140P8625Q0037

STATEMENT OF WORK

Paramount Ranch Fair Market Value Analysis

Santa Monica Mountains NRA (SAMO)

Background:

Provide Fair Market Value (FMV) Analysis for Paramount Ranch’s new leasing program.

Scope:

Santa Monica Mountains National Recreation Area’s (SAMO) Office of Special Park Uses is switching its permitting instrument at Paramount Ranch from Special Park Use (SPU) permits to a Short-Term Leasing (STL) program. This change will have a significant impact on the ability to generate revenue for the Park and will require a Fair Market Value (FMV) rental analysis.

Paramount Ranch has a unique opportunity to benefit from a new Short Term Leasing program.

With a picturesque setting, the Subject Property has historically been used for Hollywood film productions, as well as festivals, trail races, concerts, car shows, drive-ins, and weddings.

Once Paramount Ranch is rebuilt from damage sustained from the 2018 Woolsey Fire, the

Subject Property will offer more than 15,000 square feet of new leasable interior space, 17 acres of open event space, enhanced access for guests with disabilities, and more.

To prepare a Fair Market Value (FMV) rental analysis for a Short-Term Leasing program at the

Subject Property, contractor will undertake the following scope of work in a manner consistent with the NPS’s Guide for Alternative Valuation Methodology for Uncomplicated Real Property

Leases and Short-Term Leases:

Tasks:

Task 1: Start-up and Site Tour

Upon authorization by the Park, contractor will meet with Park staff and tour the Subject

Property in person. The purpose of the onsite tour is to identify venues and component structures on the site, discuss capacity and parking, inspect the Subject Property, and ask any questions of

Park Staff. The Park will make available any prior relevant studies.

Task 2: Identify and Confirm Lease Components for Analysis

Based upon the tour completed in Task 1 and further consultation with Park Staff, contractor will identify the full list of component structures at Paramount Ranch to be used in the FMV analysis.

These components will include all new structures associated with the rebuild (e.g., Large Barn;

Small Events Building; Pavilion, etc.) as well as existing structures that were not burned (e.g., Train Depot). Components may also include grounds and open land, such as the North Loop, the

Lawn, and other areas to be confirmed with Park Staff. Pricing and FMV research will be provided separately for all components based on comparables research in the subsequent task

(Task 3).

Contractor will also provide an FMV assessment for up to five (5) component combinations that could be provided at a fixed-price rate when compared to an “a la carte” pricing arrangement.

Additional options and arrangements could include whether furniture movement (e.g., chairs, picnic tables, etc.) is included. Prior to commencing, contractor will review the customary groupings of other lessees (e.g., those identified in Task 3) to identify the best combinations for

FMV analysis.

Task 3: Comparables Analysis

As part of Task 3, contractor will identify comparable properties in the nearby region that offer filming and special events of similar size, location, and amenities to Paramount Ranch.

Contractors will work with the Park Staff to ensure that these comparables are appropriate for the analysis.

Preference will be given to comparables in which component parts (e.g., individual structures and different grounds) can be leased either in an “a la carte” option, in preset configurations, or as a whole.

Contractor will prepare a comparables matrix displaying relevant venue information such as capacity, availability of parking, rental activities, pricing, and other factors. Contractor will evaluate each of these factors individually compared to the Subject Property, as well as on a complete basis.

Task 4: Draft and Final Report

For Task 4, contractor will prepare a report to present the methodology and findings from the commercial market rent analysis. The report will be presented in a format similar to FMV assessments conducted for other Park properties.

Contractor will submit one Draft Report for review by the Park. After receipt of a consolidated set of comments from Park Staff, contractor will submit a Final Draft within seven (7) days to the Park. Report must be signed by a Realty Professional.

Contractor will provide an electronic version of the final report in Adobe PDF format.