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HomeMy WebLinkAboutAgenda Report - November 2, 1988COUNCIL '10: THE CITY COUNCIL FROM: 71E CITY MANAGERS OFFICE C 0 M M U N I C A I 1 0 N COUNCIL MEETING DATE November 2, 1988 SLJBJECT: APPROVE RETAPIlN(, GOLF REALTY CORPORATION/WILLIAM SHERMAN COMPANY TO ASSIST T9E CITY OF LODI IN THE PREPARATION AND EVALUATION OF REQUEST FOR PROPOSAL TO SOLICIT BIDDERS FOR DEVELOPMENT OF A GOLF FACILITY AT G -BASIN, LOCATED ON THE SOUTHEAST CORNER OF LOWER SACRAMENTO ROAD AND THE FUTURE FX ENSIGN OF CENTURY BOULEVARD PREPARED BY: City Manager RECOMMENDED ACTION- That the City Council authorize the execution of an agreement with the firm. of Golf Realty Corporation/ William Sherman Company for services in the preparation of a Request for Proposal for the development and operation of a golf course in the and to assist in the eval uai ion of same. 5 CITY COUNCIL IAMES IN PINKERTON. )r., Ma,or JOHN R (Randy) SNIDER hlayor Pro Tempore DAVJD M. HINCHMAN EVELYN M. OLSON FRED Ni- REID CITY 0r LODI CITY HALL. 221 WEST PINE S1 R E E T CALL BOX 3006 LODI, CALIFORNIA 95241-1 91 0 (209) 334-5634 TELECOPIER (209) 333-6795 November 4, 1988 Xt William H. Sherman Golf Realty Corporati on/Wi 11 iam Sherman Co. 880 Las Gallinas Avenue San Francisco, CA 94903 Dear Mr Sherman: THOMAS A. PETERSON City Manager ALIU .V RE11,Chlt City Clerk BOB NtcNATT City Attorney Enclosed herewith please find fully executed copy of Retainer Agreement between Golf Realty Corporation/Wi lliam Sherman Company and the City of Lodi whereby you will assist the City of Lodi in the preparation and evaluation of request for proposal to solicit bidders for development of a golf facility at G -Basin, located on the southeast corner of tower, Sacramento Road and the future extension of Century Boulevard, Lodi. This agreement was approved by the Lodi City Council at its meeting of November 2, 1988. Should you have any questions regarding this matter please hesitate to call this office. Very truly yours, RETAINER AGREEMENT This Agreement is by and between GOLF REALTY CORPORATION/WILLIAM SHERMAN CCMPANY. 860 Las Gallinas Avenue. San Francisco. California 94903 (herein "Consultants") and THE CITY OF LODI. c/o Parks and Recreation Department. i25 North Stockton Street. Lodi, California. 95240 (herein "Client"). Consultants agree to assist Client in the preparation of an R.F.P. (Request For Proposal) to solicit Bidders for development of a golf facilit�l under a ground lease. The scope of service to be provided is contained in Schedule A which is attached hereto. .ar ,�: ,,.: .. .: SCHEDULE A This is Schedule A to the Agreement by and between GOLF REALTY CORPORATION/ WILLIAM SHERMAN COMPANY [Consultants), and THE CITY OF LODI, CALIFORNIA (Client), to provide consulting services an3 advice for the preparation of a Request For Proposal [R.F.P.). concerning a development ground lease for a recreational facility on city -owned property on Lower Sacramento Road. 1. Contract Specifications Consult nts will prepare specifications for the basic R.F.P. on such terms ditions'as are authc ized by the Client. Method: Consultants will. make recommendations concerning the length of .term of the contract and any options thereto'. capital imRrovements and personal prooerty.. iiK&'qfti8w to b1R.AiA& bi tine. RFopowar;.. minimum and approprlar� Method: Consultants will prepare a complete R.F.P. for Clienc including an appropriate questionnaire for proposers. propcser qualifications. type of references requested and other such specifications that are ordinarily included in a solicitation of this nature. Consultants wiii also identify and distribute R.F.P. to qualified applicants and assist Client in preparing notices. 3. Application Review Analysis and Adva.G-a Consuitants will advise the Client on the quality of applications received and assist Client in conducting oral interviews of those best qualified. final interview of all applicants and assist Client in their evaluation of samv.. E GOLF REAI_i'Y' CORPORATION 1 WILLIAM SIJER;LIAN COt14I � .VY 80 Las Gallirras San Rafael, California 94903 ri-t-r— r; i nno Telephone (415) 472-6232 Mr. Ron Williamson. Director Parks and Recreation Department CITY OF LODI 125 North Stockton Street Lodi. California 95240 Dear Ron: Confirming our telephone conversa ion of Monday afternoon, Wi lam Sherman Company believes that the City of Lodi can attract private capital Investment for the development of a golf facility at the City's site on lower Sacramento Road. Due to the site's constraints [its use as a flood water retention areal. we would recommend flexibility in determining the type of golf facility to be developed. Your concern regarding the evaluation of the proposals is understandable. As you put it. we may be trying to evaluate "apples" and "oranges." However. there are two reasons we believe this flexible approach makes most sense. First. the site's constraints are such that it would be difficult, at this point. to determine what type of golf facility makes most financial and operational sense to a potential Developer. Second. because of the given site constraints and the City's desire not to fund the project, the greatest amount of Developer interest will be generated by leaving. as many options op n as possible. I have encloses a.'coutxac1 agxeement which calls fox the William S.hexman Company to prepare necessary announcements. the Request For Proposal package, and to assist the City in: the Developer selection. process. I will have an outline of the RFP contents r ith mean-Fciday:_ I hope this covers all we discussed on Monday. IF you need to reach me before out Friday meeting; please call me at the office on Thursday. or at home Thursday evening.:.: My,home telephone number is (4151389-974). - ..,r'raest r`egaros,..' AnthonyCracco AClsmc Enclosure - GOLF COURSE "CONSULTANTS, APPRAISERS & l3ROIiE1ZS RETAINER AGREEMENT This Agreement is by and between GOLF REALTY UUKNURATIUN/WILLIAM SHERMAN COMPANY. 880 Las G?liinas Avenue. San Francisco. California 94903 therein "Consultants"] and THE CITY OF LOOT, c/o Perks and Recreation Department. 125 North Stockton Street. Lodi. California. 95210 therein "Client"]. 4. Client agrees to pay Consultants for consulting services described above. the sum of TEN THOUSAND ($10.000) DOLLARS on the following schedule: (a1 $5,000 upon authorization to proceed; (b) $5,000 upon completion of the assignment. Client also agrees to pay Consultants' out-of-pocket expenses for travel. printing and other related Pxpenses concerned with completion of the task at Consultants' actual cost. Costs are due and payabie when incurred and billed by Consultants. SCHIGOULE A This is Schedule A to the Agreement by and between GOLF REALTY CORPORATION/ WILLIAM SHERMAN COMPANY (Consultants). and THE CITY OF LODI, CALIFORNIA [Client), to provide consulting services and advice for the preparation of a Request For Proposal (R.F.P.). concerning a development ground lease for a recreational facility on city -owned property an Lower Sacramento Road. 1. Contract Specifications MBthcyd. Consultants will prepare a complete R.F.P. for Client including an appropriate questionnaire for proposers. proposer qualifications, type of reference) renuested and �tl?�f=`aiirF� cnnr ifiratinna rhnt- are nrdinariiv mr_I11t3Pcf in a snlicitatinn of this nature. Consultants will aiso identify and distribute R.F.P. to qualified applicants an -i ats5is` Client in preparing notices. 3. Application Raview Analysis and Advie-a i Consultants will advise the Client on the quality of applications received and assist Client in conducting oral interviews of those best qualified. ( o;isultants will also assist Client in preparing questions and guidelines for i tervi,ews of the most quatified applicants and assist Client in identifying those members of the golf industry who are well suited to take part in the final inti. -view of a!! applicants and assist Client in their evaluation of. same. 11 lk It ': z' r r+^ OUTLINE R.F.P. CITY OF L©DI 1, PREPARE PUBLIC ANNOUNCEMENT/ADVERTISEMENT A. Newspapers & Magazines: Stockton, Sacramento. Los Angeles. San Francisco. San Jose, Fresno. San Diego GOLF INDUSTRY, GOLF OPERATIONS. PGA MAGAZINE B. Letter to Golf Associations: National PGA Northern California PGA Southern California PGA Golf Course Superintendents Assn. Northern California Chapter Southern California Chapter California Golfer Fore Magazine (SCCA) NCGA News ll. LETTER OF RESPONSE TO INQUIRIES A. Scope of Project B C ualifications of Proposer C Guarantee Deposit e OUTLINE R.F.P. F -M Ill. R.F.P. PACKAGE A. INFORMATION - SCOPE OF PPOJECT 1. 2. 3. 4. 5. 6. Background Construction Requirements Lease Agreement - Open Term and Rents Scope of Management Services Proposer Conference is Site Inspection (Restrictions) Conditions & Requirements a) Documents b) Proposer Investigation c) City investigation of Proposer d) Right to Withdraw prior to Deadline el Restrictions after Deadline (Dep6si t/Forfeiture) 6. PROPOSAL FORM 1. Instructions to Proposers 2. Proponent's Statement 3. Proposal Forms [Corporate, Partner. Proprietor) 4. Statement of Qualifications 5. Financial Statement Page 2 OUTLINE R.F.P Page 3 111. R.F.P. PACKAGE (Continued) B. PROPOSAL FORM (Continued) 10. Proof of insurability 11. Construction Schedule a) Narrative h) Capital Budgets c) Financial Plan 12. Pro -Forma - 5 years 13. Affidavit to Accompany Proposal 14. Proposer's EEO Certification 15.. Authorized Official of Proposer _a) Proprietor b) Partner - C) Corporate Officer/Resolution or Seal 16. Proposal Guarantee Deposit S 17. Submission of Proposals 18, Evaluation Process/Selection Ccmmittee 19. City Right to Reject .. r GOLF REALTY CORPORATION GOLF COURSE SALES & INVESTMENTS .A " 7 � r T 4' N4 {r. {a �, t WILLIAM SHE, RMAN COMPANY,. -,7 GOLF REALTY CORPORATION/ WiLLIAM SHERMAN COMPANY Golf Realty Corporation / William Sherman Company are service companies who combine a diverse range of golf course consulting and real estate skills. These skills cover a broad spectrum of customer services that include: Golf course sales. leases and property management contracts Golf course financial and investment analysis and feasibility studies Golf course reel estate and personal property appraisals Private golf club formation. organization and operations counsel Ana;ysis of clubhouse design relating to flow. function and purpose Golf course site analysis and marketing studies Golf course management personnel studies and searches Clients of Golf Realty Corporation / William Sherman Company have been individual golf course owners or investors. multi -national corporations. public agencies of federal or state governments. regional districts. counties or, municipalitiis. .Clients Have been private clubs; golf course associations and other industry organizations. Clients also include real 'estate developers "and commercial lending institutions. syndicates, attorneys, architects,engineers, contractors. real estate appraisers and recreation consultants. Services are tailored to meet specific goals or investment objectives of each client. Each situation has an analytical appraisal made of the project before work begins. This preliminary evaluation is based on 30 years field experience related to solving problems that are particular to the golf course industry. Golf course consulting services are made available on either a fixed fee or per diem charges. Golf course brokerage services are negotiated on an equitable commission basis. A brief. description of the background and qualifications of Golf Realty .Corporation /William Sherman Company, along, with a partial listing of various following pages. projects and clients is presented on the WILLIAM H. SHERMAN QUALIFICATIONS AND EXPERIENCE William H. Sherman has served as a golf course- consultant for the past 30 years. A former field director for the National Golf Foundation who has provided golf course counseling services throughout the United States and abroad. Mr. Sherman is qualified as an expert witness in litigation matters on golf course appraisals and on golf course industry practices. He is a licensed California real estate broker and author of a textbook on golf course acquisitions and leases. nr.TIVITIFr, Lecturer and instructor, PGA Business Schools. Golf Course Superintendents Association of America. American institute of Real Estate Appraisers, Southern California Regional Assessors Association. California Park and Recreation Society and National Association of Public Golf Courses. ASSOCIATIONS Honorary Life Member. Southern California PGA Member Advisory Board. Southern California PGA Member, Special Advisor. National Golf Foundation PUBLISHER GREENLINE. golf course industry newsletter. national distribution AUTHOR UYiNG OR LEASING A GOLF COURSE �nif�rs Asstsei�ti°o�n�• 1�?8i. EDUCATION F B.A.. University of Notre Dame. 1949 levrtifft�ate of Re-wf- Estate: University of California, 1966 ,4 �l NATIONAL GOLF FOUNDATION, CHICAGO. i _gntral Field Representative, Chicago. 1955— 1958 j4 # !! Westefn Diiff@000 64fi Ff4116990 i Y 1 i � .fix ,}t n 'x'°m+„S�- •cc * J �su'r.'�s� r_ ',� `-,i �`"s3.-`+'§-..��cM4".'�R�ea��+'&-'E`r,.wec»k��mR �' �K•f.,is� � "' �t �"..+ ^var'"i��i�..�': 4��x`e CORPORATION ANO COMMNNY A6800IATES Associate Consultant ANTHONY CROCC7 is a former National Golf Foundation project manager who prepared golf course feasibility studies. operations analyses and market research reports for golf course properties throughout the United States. Mr. Crocco has written and produced national golf consumer research reports. and conducted seminars for the National Recreation and Parks Association. National League of Cities. National Association of Counties. and was on the faculty of the Oglebay Golf Management School. He is a graduate of the Uniivenity of Notre Dame. with a degree in Business Finance, " "AUL DINKELSPIEL. President of Dinkelspiel / Belmont B Company. public finarlee end investment banking advisors. is an associate consultant who has provided golf GOLF REALTY CORPORATION / WILLIAM SHERMAN COMPANY PROFESSIONAL REFERENCES Newell Pinch. Executive Director S'WTH1=RN ICKLYNORMA Z -CL` -F ASt8G9AfltN 3740 Cahuenga Boulevard North Hollywood. California 91604 Larry Gilhooley, Director UNITED -STATES t'0L`F ASS'0- ` ATI'O`N 1946I Sierra Luna Irvine. California 92715 Henry Thrower. Director of Club Relations PGA OF AMERICA P. O. Box 12458 Palm Beach. Florida 33410 John J. Burke. Township Manager MIDDLETDWN TOWNSHIF 2140 Trenton Road Levittown. Pennsylvania 19056 618/960-3530 714/544-L141 1 4071626-3600 215/943-0300 ichard Mair, President 11055ppShafterr Street 92 pg ban Die�o. Cath oo�nia 92106 William A. Neithammer, M.A:I. 5/788 - REAL ESTATE RESEARCH 2482 -.'nia 94111 eor e re ores. A P r o, Attorney �i�A P.fi�'{',. UK -IULIU Southwest Main Street. Suite 1600 tland. Oregon 97204 St I Owner -. SW C-AUSQ-JNTR-Y- CM1513 EI Cajon..California 92$1 . CONGER & FISK APPRAISRLkAS707/64L#-0431 . eS@fit Valleso, California 94590 . Y GOLF REALTY CORPORATION/'WILLIAM SHERMAN COMPANY - Clients & Projects GOLF COURSE REAL ESTATE APPRAISALS Property Mountain View Golf Course Newport Beach Golf Course Northridge Country Club Oakridge Golf Course Orange Show Golf Club Pajaro Valley Golf Club Pittsburg Golf & Country Club Plumas Eureka Estates Quail Lake Golf Course Rancho Canada Country Club Riverside Golf Course Riverview Golf Course Rohnert Park Golf Club C1i.ent Paul Fruchbom & Associates Newport Beach CA Hecht. Diamond & Greenfield Pacific Palisades CA Northridge Country Club. Sacramento CA City of San Jose. San Jose CA Recreation Properties. Inc., San Bernardino CA Pajaro Valley Golf Club. Inc., Watsonville CA City of Pittsburg. Pittsburg CA U. S. Forestry Service Warner Hodgdon Company. San Bernardino CA Rancho Canada. Ltd., Monterey CA Camp -Schulte Development Co.. San Jose CA City of Santa Ana. Santa Ana CA Regent Investment Corporation Walnut Creek CA Round Hills Golf & Country Club California State Division of Corporations Salinas Golf & Country Club Conger & Fisk Appraisers. Vallejo CA San Bernardino Public Golf Course San Bernardino Public Golf Course. San Geronimo Golf Course San Ramon National Golf Club Santa Fe Springs Golf Center San Bernardino CA Merin Financial Corporation. San Rafael CA National Golf Courses. Inc., Honolulu HI Beachcomber Bomber Golf. Inc., Pacific Palisades CA All American City Public Golf. Inc. Boise Cascade Recreation Properties. Palo Alto CA Las Gallinas Valley Water District Public Utilities Commission, San Francisco California Property Consultants Beachcomber Golf, Inc., Pacific Palisades -CA Hecht. Diamond & Greenfield. Pacific Palisades CA Valley Hi Land Company. Sacramento CA' Hecht. Diamond & Greenfield. Pacific Palisades CA Valley National Bank of Arizona. Phoenix . AR Union City CA Beachcomber Golf Inc.. Pacific Palisades .0A U. S. Financial Company. San Diego CA Farmers Home Administration. Fresno CA Yorba Linda Ranch Company. Yorba Linda. CA .E... .: GOLF REALTY CORPORATION/WILLIAM SHERMAN COMPANY —Clients and Projects GOLF COURSE REAL ESTATE APPRAISALS Property Client E{ Aptos Saescape Golf Course Aptos Seascape Corporation. San Diego CA Arastra Ranch Jackson. Turner & Mulcare. San Mateo CA _ Arroyo Honda Country Club Woodrow. Hall. et al.. Santa Fe New Mexico Arroyo Seco Golf Course Hecht, Diamond 6 Greenfield Pacific Palisades CA Black Lake Golf Course American Golf Corporation. Los Angeles CA Bonita Golf Club Crockett Company. National City CA Bonita Golf Course Crocket & Company, San Diego CA Boulder Cree.: Country Club T.J. Culligan. San Mateo CA Camarillo Springs Golf Course California Goff/Tennis Carmel Mountain Golf Resort Carmel Mountain Associates. La Jolla CA Columbia Edgewater Country Club Columbia Edgewater Country Club. Portland OR Cypress Hill:; Golf Course Cypress Hills Golf Club. ln.c. Colma CA Del Paso Country Club Del Paso Country Club. Sacramento CA Dominguez Golf Course Hecht. Diamond C Greenfiled Pacific Palisades CA Edgewater Golf Club Edgewater Country Club. Michigan El Macero Country Club Ff Macero Country Club. El Macero CA El Segundo Golf Course Beachcomber Golf. Inc.. Pacific Palisades CA Green Tree Golf 6 Country Club General Innkeeping Acceptance Corporation Memphis TN Green Tree Golf Course Vacaville CA Half Moon Bay Golf Links Sanwa Bank. San Francisco CA Hidden Valley Lake Golf Ciub Boise Cascade Recreation Properties. Palo Alto CA La Canada Country Club I.D.S. Corporation. Minneapolis MN Laguna Lakes Golf Club Ray Skinner & Associates. Santa Barbara CA Lake Don Pedro Golf Club Boise Cascade Recreational Properties. Palo Alto C 4 Las Gallinas Golf Course San Rafael ' CA Le Triomphe Country Club Le .Triomphe. Partnership. Lafayette LA Los Coyotes Country Club Boise Cascade Recreational Properties. Pafo Alto CA Los Rot -les Greens Golf Course . City of Thousand Oaks; Thousand Oaks CA Maplecrest Golf Course Harris bank & Trust Co.. Chicago IL Marias Valley Golf Club Joint Venture. Shelby Montana Marin Municipal Water District. Corte Madera CA `%Meadowlark Golf Course City of Huntington Beach. Huntington Beach CA Mile Sqaure Golf Course Mile -Square Golf Course. Fountain City CA Montclair Country Club Fore Golf. Inc.. Haymarket VA Monterey Park Golf Course Hecht. Diamond ✓; Greenfield Pacific Palisades CA z d•�-e"morias'• GOLF REALTY CORPORATION/WILLIAM SHERMAN COMPANY -Clients and Projects REAL ESTATE Westinghouse Corporation. Half Moon Bay, California Blackhawk Ranch Development Corporation. Danville, California Circle R Resort Properties. Escondido, California Dale Bellamah Corporation. Albuquerque. New Mexico Halvorson Construction Company. Portland. Oregon Golfarce Corporation. Miami. Florida Kilgore Froperties. Ltd.. Lubbock. Texas Del Webb Corporation, Phoenix. Arizona Newhall Land Company, Valencia. California Sierra Pacific Properties. San Francisco. California Fred Bush Builders. Tucson. Arizona The Bishop Estate. Monterey. California LTV Recreation Company. Dallas. Texes Chevron Land Company. Los Angeies. Californie AMFAC, Ltd.. Honolulu. Hawaii Bechtel Corporation. San Francisco. California Cabot. Cabot 6 Forbes. Boston. Massachusetts and San Francisco. Alpha Land Company. Santa Clara. California A.J. Hall Corporation. San Diego. California Edison Company of Southern California. Los Angeles. California Boise Cascade Recreation Properties. Palo Alto, California T.J. Culligan Company. San Mateo, California AVCO Community Developers. Laguna Beach. California Heltzer & Associates. Los Angeles. California DiGiorgio Corporation. San Francisco. California Wailea Oevelopment Company. Maui. Hawaii Hofmann Construction Company, Concord. California Covington Technology. Fullerton. California Huntington Beach Company. Huntington Beach. California Daon Company. Newport Beach. California Canterwood Estates. Tacoma, Washington Katrina B. Heinrich, Palin' Springs, California Campeau Small Properties. Santa Clara. California R.G. Moore. Virginia Beach. Virginia MCO Properties. Fountain City. Arizona The Irvine Company. Newport Beach. California Coto deCaza Development Corporation CARVIDA Corporation] Coto deCaza, California FINANCIAL INSTITUTIONS Bank of America, San Francisco. California Harris Bank B Trust Company. Chicago. Illinois IDS Corporation. Minneapolis. Minnesota Valley National Bank of Arizona. Phoenix. Arizona U.S. Financial Company, San Diego, California General Innkeeping Acceptance Corporation. Memphis, Tennessee Great Western Savings & Loan. Los Angeles. California Sun West Bank. Tustin. California Sanwa Bank, San Francisco, California K'iar':{.�:�•i�'.r:-'�:Rs:.... r:vh.4:�..oa�:p.2` ':.rJ,'_ ;>M.� ':J� ::,L. ®':5:' - ':tY^.r t. ,. r.. GOLF REALTY CORPORATION/WILLIAM SHERMAN COMPANY -Clients and Projects PUBLIC AGENCIES U.S. Government Farmers Home Administration T-+-,- .,+; ,.,..,1 Johor Tenagara Development Authority Johor Bahru. West Malaysia State. of California GOLF COURSE PROJECT Fair Market Valuation Appraisal Management Systems Study Johor Resort Golf & Country Club ! Division of Corporations Valuation of Memberships C Appraisal - Exposition Management & Operations Study California - 'Gtperations Analysis C Appraisal Simi Valley Recreation & Park District... California.:. -Golf.,Site Analysis G Feasibility . Simi- Valley Recreation Park District, California -:__'.Prospectus Offering -. Genesee: County Recreation Oistrict .Ftint, Michigan .-Feasibility Study 6 Prospectus. Huron Clinton: -Metropolitan Autfiority_;Detroit Michigan Appraisal Analysis Middletown:Township Pennsylvania Acquisition Analysis i G0!.F REALTY CORPORATION/WILLIAM SHERMAN COMPANY'— Clients and Projects PUBLIC AGENCIES County Agencies GOLF CCURSE PROJECT King County, Washington Public Golf Course Market Analysis Lane County, Oregon Site Analysis San Joaquin County. California Feasibility Study Sari Luis Obispo County. Catifornia Lease Analysis Sacramento County. California Feasibility Study I Hsi 4 GOLF REALTY CORPORATION/WILLIAM SHERMAN COMPANY —Clients and Projects PUBLIC AGENCIES City. Agencies 1 Anchorage, Alaska Antioch. California Austin, Texas Bellingham, Washington Bremerton, Washington Burlingame. California Concord, California Coronado, California Corona. California Davis. California Downey, California Fairfield, California Fontena, California Huntington Seach. California San Jose, California Ingleside, California La Habra, California Livermore. California Livermore. California Los Angles. California Manteca. California Merced. California Montebello, California Monrovia. California Monterey Park. Caiifornia Monterey Park. California NewarI.. California Oxnard. California Palo Alto. California Petaluma, California Pittsburg. California Roseville, California Sacramento. California San Oiego, California ' .:San Dimes. California San Francisco. California San Leandro. California :.'.'.Santa Ana. California:..:.:.: . Santa Cruz. California' .....Scottsdale. Arizona :.;;Spokane. Washington Stockton, California San Matea, California Thousand Oaks. California' Tcrrance. California Ventura, California Wainut Creek- California Yorba Linda, California GOLF COURSE PROJECT Feasibility i; Oevelopment Analysis Feasibility Study Golf Course Development Plan Site Analysis & Study Site Analysis u Study Feasibility Study Operations Analysis Feasibility Study Ground Lease Prospectus Acquisition Analysis Acquisition Analysis Feasibility Study Feasibility Study Golf Course Acquisition F; Study Anal\/sis Feasibility Study Park Conversion to Golf Course Acquisition Analysis Acquisition Analysis Feasibility Study Financial Analysis of Bond Proposal Feasibility Study Feasibility Study Clubhouse Evaluation O Operations Analysis Site Study 6 Lease Analysis Ground Lease Prospectus 6 Search Feasibility Study Site Analysis & Feasibility Study Market Analysis Expansion Analysis Feasibility Study Reorganization & Expansion Analysis Feasibility Study Feasibility Study Contract Proposal & Advisory Services Proposal of Valuation 6 Consulting Services Golf Course Appraisal Financial Analysis Acquisition Analysis Feasibility Study Site Analysis Operations Analysis Fee & Operations Analysis Operations Analysis Acquisition Analysis Feasibility Study Concession Contract Analvsis Feasibility Study Feasibility Study _I f GOLF P.EALTY CORPORATION/WILLIAM SHERMAN COMPANY — Clients and Projects GOLF COURSES B GOLF INDUSTRY CLIENTS American Goll/Tennis, Los Angeles CA South Bend Country Club. South Bend IN Caiifornia Golf Centers, Mission Hills CA Circle R Golf Course. Escondido CA Pacific Group. Monterey CA National Golf Courses, Honolulu HA Soule Park Golf. Ltd.. Ojai CA Zeke Avila 6 Sons. Ventura CA San Bernardino Public Golf Courses. San Bernardino CA Boulder Creek Golf Club. Boulder Creek CA Sunset Whitney Golf Course. Rocklin CA Via Verde Country Club, San Dimas CA San Geronimo Golf Course. San Geronimo CA Phoenix Lake Golf Course. Sonora CA Elkhorn Country Club. Stockton CA Franklin Canyon Golf Course. Rodeo CA Santa Fe Golf Center. Santa Fe Springs CA Nortnern California Golf Association. Pebble Beach CA Professional Golfers Association, Palm Beach Gardens FL Southern California Golf Association. North Hollywood CA Columbia Edgewater Country Club, Portland OR Peninsula Golf Association. Burlingame CA . NO Merced Country Club, Merced CA - Visalia Country Club, Visalia, CA -Ocean Meadows Golf Club, Goleta CA Wikiup Golf Course, Santa Rosa. CA _Persimmon Hill Golf Course, Saluda SC EI Rancho Verde Golf Course, Rialto CA Wood Vista Golf Course, Kings Beach CA Shandin Hills Golf Course, San Bernardino CA Lake Havasu Country Club, Lake Havasu NV Valencia Golf Course. Valencia CA . NO GOLF REALTY CORPORATION/WILLIAM SHERMAN COMPANY - Clients and Projects CONSULTANTS AND APPRAISERS Comoanv Location Economic Research Associates Los Angeles and San Francisco. California Schwabacher-Rafferty Company San Francisco. California Shipley Stewart Corporation Los Angeles. California Stevenson -Forbes Company Los Angeles. California Robert Trent Jones Company Palo Alto. California William A. Neithanmmer, MAI San Francisco. California Real Estate Research Company Chicago. Illinois and San Francisco. California Whisler, Patri Associates San Francisco. California Wainwright G Ramsey Company New York. New York and Los Angeles. California Conger 6 Fisk. Appraisers Vallejo, California Real Property Analysts. Inc. Fresno. California Hornblower h Weeks -Hemphill. Noyes San Francisco. California Financial Appraisal Services. Inc. Escondido. California Gary Kent. Appraiser Las Vegas. Nevada Ventura Research. Inc. Danville. California Wilshire Appraisal Glendale. California Charles McNabb, Appraiser Pasadena. California Ryan G Associates Phoenix. Arizona Moanna Corporation San Francisco. California . Landau Corporation - San Luis Obsipo. California Jen Baker, MAI San Rafael, California Robert Anson Steele Tustin, California Donald Ashley Associates Hayward, California Westingconsul Seattle. Washington R. J. Neustein. Appraiser Los Angeles. California Laventhall S Horwath Los Angeles. California Steven L'., Bowen, MAI San Diego, California 1 GOLF REALTY CORPORATION/WILLIAM SHERMAN COMPANY - Clients and Projects QUALIFIED AS EXPERT WITNESS - GOLF COURSE PROPERTIES Federal Bankruptcy Court. Fresno CA Superior Court. San Diego CA County Board of Supervisors. Sacramento CA Assessment Appeals Board. Sacramento CA State Division of Corporations. State of California County Board of Supervisors. Monterey CA District Court. Santa Fe County NM U.S. District Court. Northern California District. San Francisco CA Arbitration Judicial Service. Orange County CA American Arbitration Association, Oceanside CA Superior Court. Los Angeles CA Superior Court. Riverside County CA Oregon Department of Revenue. Portland OR Washington State Board of Tax Appeals, Seattle WA