Lake Cushman Lease Appraisal Services

The City of Tacoma is soliciting proposals for professional appraisal services under solicitation number PG26-0189F to determine the current market value and market rental rate for a lease extension involving the Lake Cushman Company. The project involves approximately 2,400 acres in Mason County, Washington, consisting of roughly 3,089 residential lots and 600 acres of common areas, though the valuation of leasehold improvements is specifically excluded. The selected contractor must be a Washington state-licensed real estate appraiser with at least five years of experience and must adhere to USPAP, the Appraisal Institute Code of Professional Ethics, and applicable state regulations. Deliverables include a draft report for client review and a final written appraisal report providing estimates of annual market rent and net present value, with a final completion date anticipated by February 28, 2027. The contract is for a one-year period and requires the contractor to maintain commercial general liability insurance with minimum limits of $1,000,000 per occurrence and $2,000,000 annual aggregate. Award selection will be based on a 100-point scale evaluating firm qualifications, scope specifics, project examples, references, fees, sustainability, and equity in contracting. Contractors must comply with Washington state prevailing wage laws under chapter 39.12 RCW and provide paid sick leave in accordance with state law. Payment is processed through the City's ordinary payment system, typically within 30 days of invoice receipt. Submittals are due by November 17, 2026, and must adhere to strict formatting and page limit requirements to be considered for evaluation.