To: Board of Supervisors
From: Assessor
Agenda Section: Consent
SUBJECT:
title
Agreement with California Assessors' Association and Harold W. Bertholf, Inc., for Petroleum and Geothermal Property Sales Study
end
RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Approve the Agreement for Petroleum and Geothermal Property Sales Study; and
2. Authorize the Assessor to sign said agreement.
Body
SOURCE OF FUNDING:
General Fund
DISCUSSION:
Since 1997 Humboldt County has participated with other California counties (currently fourteen) that are producers of petroleum or geothermal products, in an agreement for services to provide a sales study of these properties. This study provides vital information to aid in the appraisal of the natural gas properties in Humboldt County. These are specialized properties that require revaluation each year. In 2020, these properties have a total assessed value over $4,633,000. The lateness of this request to the Board is due to not receiving the contract signed by the service provider until January 2021. The term of this agreement is from November 1, 2020 through October 31, 2022.
FINANCIAL IMPACT:
The total cost for the sales study is $97,200. Humboldt County's share of the cost is $990 a year for two years. Since contract payments exceeded expenditures for the 2019-2020 contract years, the Petroleum Standards Advisory Committee currently has sufficient funds to pay the first half of the 2021-2022 contract. There are sufficient funds budgeted in the 2020/21 fiscal year in Professional and Special Services (1100-113-2118) for this study.
STRATEGIC FRAMEWORK:
This action supports your Board's Strategic Framework by both supporting business, workforce development and creation of private-sector jobs and facilitating public/private partnerships to solve problems.
OTHER AGENCY INVOLVEMENT:
None.
ALTERNATIVES TO STAFF RECOMMENDATIONS:
The Board may choose not to approve the attached pro...
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