Monday, October 8 |
| 8:00am - 9:30am | Joint Conference Opening Remarks and Keynote Address: America's Economic Future
Where is the United States heading economically? What are the prospects for job growth, inflation and debt reduction in coming years? Are we losing our competitive edge in manufacturing? Is globalization good or bad for the United States? Are there any bright spots in the U.S.? Barry is a passionate free market economist who believes the best is yet to come for the U.S. and the world.
Barry Asmus, PhD, Senior Economist, National Center for Public Analysis
KC Conrad, ASA, CBA, CMEA, ABA, Principal, American Business Appraisers, LLC
Linda Trugman, ASA, CPA/ABV, CBA, Vice President, Trugman Valuation Associates, INC
Daniel Van Vleet, ASA, Managing Director, Stout Risius Ross |
| 9:30am – 10:30am | Joint Multi-Discipline General Session: Raising the Bar for the Valuation Profession
The Valuation profession's challenge in today's post crisis environment is to bring greater consistency, quality and transparency to those who rely on our work. Investors, regulators and auditors require more extensive input from independent valuers than ever before. This session will provide an update on recent engagement with regulators and accounting standards setters. Efforts within the U.S. and globally to strengthen quality and credibility within the profession will also be discussed.
Steve Sherman, Partner, Economic and Valuation Services Practice, KPMG, LLP, Chair, IVSC Standards Board
Anthony Aaron, Principal, Valuation and Business Modeling Practice, Ernst & Young, LLP |
| 11:00am - 12:00pm | Contemporary Valuation Issues Involving Industrial Properties, Part 1
This program will focus on the important topic of valuation issues involving the diversified property mix generally identified as “industrial properties”. From distribution warehouses to general manufacturing buildings, from small 5,000 square foot light manufacturing buildings to 1+ million square foot automotive stamping plants, this area of real estate continues to adapt to every evolving world economic requirements in industrial storage and manufacturing. This program will illustrate the different categories of industrial properties, recognize and measure various forms of depreciation, as well as discuss the current and important topic of alternative/adaptive reuse of industrial properties.
Paul K. Bidwell, MAI, CCIM, Owner and Principal, Affinity Valuation Group, LLC |
| 12:00pm - 1:30pm | Joint Conference Luncheon and Awards Presentation
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| 1:45pm - 2:45pm | Contemporary Valuation Issues Involving Industrial Properties, Part 2
Continuation of Part 1 (see above)
Paul K. Bidwell, MAI, CCIM, Owner and Principal, Affinity Valuation Group, LLC |
| 3:00pm - 5:00pm | Shopping Mall Intangible Value Extraction: Prospects & Pitfalls in Assessment Disputes
This presentation will provide background and issues from two super-regional shopping mall tax appeals: (1) the Eden Prairie Center Minnesota case (Tax Court decision on remand from MN Supreme Court filed January 25, 2012); and (2) The Maine Mall tax appeals, as presented by the expert witness in both cases.
During this presentation, the audience will gain an understanding of these complex issues:
1) Appraising super-regional shopping malls for tax appeal purposes.
2) Taxpayer’s efforts to exclude non-realty and intangible asset components from property value.
3) Specialty leasing revenue.
4) Pro and con arguments for use of department store capital incentive and start-up cost amortization in the Income Approach.
5) Proper treatment of “return on” and “return of” investment in FF&E will be included. Appropriate analysis of retail sales for shopping mall classification and cap rate selection will also be illustrated.
Mark Kenney, MAI, SRPA, President, American Valuation Group, INC |
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Tuesday, October 9 |
| 9:00am - 11:30am | Palo Verde Nuclear Generating Station, the Energy Cornerstone of the Southwest
Join your colleagues in the Machinery and Technical Specialties Discipline and the Real Property Discipline for an informative presentation on nuclear power plants. A special follow-up discussion will occur in the afternoon.
Charles Emmett, Communications Consultant, Palo Verde Communications - PVNGS |
| 11:30am - 12:15pm | Lunch on Own |
| 12:15pm - 3:15pm | Power Plant Valuation: A Challenge for the 21st Century
This presentation will first familiarize you with the operations side of a nuclear power plant. Next, you will be provided with an industry wide trending overview of power plants, past, present and future. Finally, you will be provided with the framework and methods used to analyze the market for these properties, and valuation issues now involving power plant appraisals.
Lawrence Golicz, PhD, MAI, Independent Valuation Consultant and Appraiser
Peter Huck, PE, ASA, MBA, Director and Assistant Vice President, American Appraisal Associates, INC
Derek Edmunds, Training Manager, Western Technical Services, INC |
| 3:15pm - 5:15pm | Joint Multi-Discipline General Session: Healthcare Valuation
Robert James Cimasi, ASA, MHA, MCBA, AVA, CM&AA, President, Health Capital Consultants
Ernest A. Demba, FASA, FRICS, PE, MS, MBA, Managing Member, Demba Valuation Services, LLC
Edward Detwiler, ASA, President, Edward G. Detwiler and Associates, LTD
Sandra J. Tropper, ASA, Managing Director, Artemis, Inc.
Charles Wilhoite, ASA, Managing Director, Willamette Management Associates |
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Wednesday, October 10 |
| 8:00am - 10:00am | Gas Station Valuation: Distinguishing the Real, Personal and Intangible Property
This session will provide an overview of appraising fuel service properties focusing on modern trends with gas stations, income producing characteristics, how to develop an income approach and identifying and distinguishing between real, personal and intangible assets. Topics covered in the session will include:
• Sources of income – fuel and convenience goods
• Developing appropriate margins on sales
• Identifying intangible assets
• Tanks and dispensers – real or personal property
• Modern trends
• Developing an appropriate Cap Rate
Michael Kurschat, ASA, MAI, Kurschat & Company |
| 10:35am - 12:05pm | Appraisal Review: Reviewing in Today’s Market – The Good, the Bad, the Ugly
Are you missing out on possible clients? Are you offering Appraisal review services? Are you following USPAP and accepted review techniques as they pertain to today’s challenging real estate market? This refresher of the appraisal review process and procedure (for all disciplines) includes reviewing appraisals for state board complaints and case studies of fraudulent and non-competent appraisals. Learn to beware of the form trap.
Barry Alperin, ASA, Real Property Appraiser, Reviewer and Consultant
Gary Snowdon, ASA, Principal Appraiser, Snowdon Valuation
William P. Wilson, III, ASA, Wm P Wilson Company |