01-12-1998
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Agenda/C
1-12-98
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COMMUNITY REDEVELOPMENT
AGENCY
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CITY OF CLEARWATER
POST OFFICE Box4748, CU:..-\RWATER, FLORJDA' 33758-4748
CI1Y HAI-l, 112 SOlJ11i OSCEOLA AVENUE, ClEARWATER, FLORJOA 33756
TELEPHONE (813) 562-4040 FAX (813) 562-4052
REVISED* AGENDA
COMMUNITY REDEVELOPMENT AGENCY
Monday, January 12, 1998
1 :00 p.m~
Commission Chambers
1. Call to Order
2. Approval of Minutes - November 17, 1997 & December 4, 1997
3. New Business
a. Downtown Redevelopment/Community Redevelopment
Plan Modifications*
b. Justice Corporation Proposal*
c. Notify the City of Clearwater of the intent to accept
Justice Corporation Proposal*
d. Request for Authorization for Outside Counsel*
Assistant City Manager Verbal Reports
Other Business
Adjournment
*
"EQUAL EMPLOYMENT A.1\1D AFFIRMATIVE ACTION EMPLOYER"
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Clearwater Community
Redevelopment Agency
Agenda Cover Memorandum
Meetin:t::t:: 111!tl
SUBJECT:
Downtown Redevelopment/Community Redevelopment Agency Plan Modifications
RECOM MEN DATION/MOTION:
Approve the proposed modifications to the Downtown Redevelopment/Community
Redevelopment Agency Plan
lEI and that the appropriate officials be authorized to execute same.
BACKGROUND:
· The Downtown Redevelopment Plan for the Community Redevelopment Agency was adopted by
Resolution 95-65, on August 17, 1995, to comply with Florida Statues.
· The plan includes Commercial/Office/Residential and a small portion of Low Density Residential
land uses at the annex site.
· The proposed modification of the area between Missouri Avenue and Greenwood Avenue, from
Court Street to Cleveland Street, to include approximately 9.6 acres within the eRA boundaries,
from Low Density Residential to Commercial/Office/Residential, will enable the Community
Redevelopment Agency to better focus on land use opportunities in the Urban Center Eastern
Corridor.
· The proposed modifications will include: the elimination of the recommended Entertainment
Center on the annex property site; the elimination of the Cleveland Street/Greenwood Avenue
rotary intersection; all of the proposed angled street system east of Greenwood Avenue; and the
elimination of the diagonal road system in the subject area. A new road system will be
developed later as new development unfolds.
o Modification of the Plan will allow needed land use flexibility that will better serve the City's long
range redevelopment plans and will meet one of the City's Goals.. Economic Development.
" The modifications to the plan ""lay need to be reviewed by other agencies if determined legally
necessary.
Reviewed by:
legal
Budget
Purchee:lng
Risk Mgmt.
.S
ACM
f ILIL
· N/A
N/A
N/A
N/A
Originating Department:
Econo~,/gevelopment
lIser~~lrtment:
Costs:
Total
Commission Action:
o Approved
o Approved w/Conditlons
o Denied
o Continued to:
Current Fiscal Year
Date:
Funding Source:
o Capital
Improvement:
o
Operating:
o
Other:
Attachments:
Other
Advortised:
Submitted by:
Paper:
o Not Required
Affected Parties:
o Notified
o Not Required
Modified Plan Map
Appropriation Code
o None
City Manager
o Printed on recycled paper
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Community Redevelopment
Agency
Agenda Cover Memorandum
Item #:
~
Meeting Date:
SUBJECT:
Responses to RFP/Q - justice Corporation Proposal
RECOMMENDA liON/MOTION:
Accept staff recommendation to negotiate with the Justice Corporation
(gJ and that the appropriate officials be authorized to execute same.
BACKGROUND:
· At the meeting on December 4, 1997, the Commissioners and CRA Trustees unanimously approved
authorizing the issuance of a RFP/Q for the former Annex site.
· The RFP!Q was released on December 5, 1997 which noted the due date and formal opening of bids at
4:00 p.m. on january 5, 1998.
· 31 copies of the RFP/Q were provided to various firms, with 5 firms submitting formal proposals.
· The Selection Committee reviewed the proposals and based on the criteria set forth in the RFP/Q,
recommend negotiations with the Justice Corporation.
· This action does not constitute acceptance of the justice Corporation proposal.
· It is anticipated that a proposed development agreement wi II be submitted to the CRA on 2/17/98 asking
the CRA Trustees to approve awarding the proposal to Justice Corporation, detailing the terms &
conditions.
Reviewed by:
legal
8udget
Purchasing
Risk Mgmt.
IS
ACM
Other
~
Total
N/A
N/A
N/A
N/A
N/A
~:ating Department:
U~epartment:
Costs:
N/A
Commission Action:
o Approved
o Approved wlConditions
o Denied
o Continued to:
Current Fiscal Year
Advertise1i:
Date:
Paper:
o Not Required
Affected Parties:
o Notified
o Not Required
Funding Source:
o Capital Improvement:
o Operating:
o Other:
Attachments:
IMR Proposal
Summary of Proposals
Rationale for
Recommendation
o None
Submitted by:
Appropriation Code
City Manager
o Printed on recycled paper
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RATIONALE FOR RECOMMENDA liON
The Justice Corporation has submitted a proposal to develop a project to be
known as the IMR Global Center. Information Management Resources is a
public company currently located in Clearwater. The company, which employs
about 150 persons in the City, would locate its headquarters on the Annex Site
and would by end of 2001 hire 560 new employees for the second and third
phases of the project.
The new employees' compensation would average more than $40,000. These
jobs fit into the City's-as well as the region's-strategy of attracting value-
added, technology-driven jobs.
IMR is a truly global company that shows strong promise in attracting other
investment to the region.
A development such as this directly relates to the Commission-approved vision
statement, which states, "Clearwater welcomes our dynamic and diverse
businesses. Tourism and technology are trademarks of our local and
international investments, which add value - both to businesses and to residents.
It is a place where all people can prosper.
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REQUEST FOR PROPOSAL 45-98
REDEVELOPMENT OF REAL PROPERTY
PROPOSAL SUMMARY LIST
HAWTHORNE INDIANA, LTD.
GARY M. REYNOLDS
5749 WHEELER ROAD
BUILDING 428
INDIANAPOLIS, INDIANA 46216-1039
PHONE: 317/377-7100
. The company, a housing developer, proposed an unspecified development on the site and requested
additional time to prepare a more detailed proposal.
DBW ENTERPRISES INCORPOP",~TED
BRUCE B. WETHERELL, VICE PRESIDENT
1360 HIGHLAND DRIVE
CLEARWATER, FLORIDA 33764
PHONE: 813 / 530-9278
. The fmn proposed using the site plus three adjoining lots for an upscale golf learning and proactive
facility with an "open field" softball and baseball practice area. The proposal stated the project
would employ 15.
JUSTICE CORPORATION
ALBERT JUSTICE
19329 U.S. 19 NORTH, SUITE 100
CLEARWATER, FLORIDA 33764-3156
PHONE: 813/531-4600
. The firm and IMR would develop the site as the world headquarters of IMR. The three-phase
project would employ 710.
BROWNFIELDS REMEDIATION, LLC
STEPHEN Y. ARELLA, PRESIDENT AND CEO
2000 REGENCY PARKWAY, SUITE 375
CARY, NORTH CAROLINA 27511
PHONE: 919/ 462-3386
. The company proposed cleaning the site in lieu of purchasing the property. The use would be an
entertainment complex.
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LeA DEVELOPMENT, INCORPORATED
LOU FREY III
3200 SOUTH HIA W ASSEE ROAD, SUITE 206
ORLANDO, FLORIDA 32835
PHONE: 407 1292..7717
. The company proposed using about 6.87 acres for a 230-unit elderly independent living complex.
. The balance of the land would be a city park.
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JUSTICE
CORPORATION
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January 5, 1998
City of Clearwater
Purchasing Office
100 South Myrtle Avenue
Room 340
Clearwater, FL 34616
Gentlemen:
Enclosed is our formal response to the City of Clearwater's request for
proposal and qualifications regarding the 14.3 acre parcel at the
southwest corner of Missouri Avenue and Cleveland Street. It is being
delivered to your office in accordance with the requirements contained in
the RFP.
Thank you for your consideration.
Sincerely,
\.
19329 u.s. 19 North, Suite 100, Clearwater, Florida 33764-3156
Telephone: 813-5314600 FAX: 813-5304004
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A Proposal
and
Qualifications
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lLOIAL
For The
City Of Clearwater
14.3-Acre Parcel
Missouri Avenue & Cleveland Street
January 5,1998
Submitted By
C:- JUSfICE
~ CORPORATION
Commercial Real Estate Professionals
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Information
Management
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GLOBAL.
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,
Justice Corporation, as the duly authorized agent of Information Management Resources, Inc.
is pleased to make the following proposal for the City of Clearwater's '14.3 acre site at the
southwest corner of Missouri Avenue and Cleveland Street in downtown Clearwater. This
proposal is in response to the City's request for proposals and qualifications and our response
will follow the outline contained in the RFR
QUALIFICATIONS
As part of the proposal submittal, each proposer must demonstrate:
1. An ability to provide a proposed plan for all of the 14.3 acre site or
all of the 14.3-acre site in combination with adjacent properties.
In response to this provision we propose to acquire and utilize t~le entire 14.3
acres for a new commercial development which we will refer to as the IMR
Global Center. This proposed developme:1t will require adjacent properties now
owned by the City of Clearwater in addition to the 14.3 acres which is the
subject of this RFP. Due to the fact that Justice Corporation's development
agreement with IMR was not executed until December 18, 1997, we will not be
submitting any specific architectural plans at this time. However, we have
assembled an outstanding development team which is already working on a
conceptual master plan for this property.
2. An ability to demonstrate a significant work force equal to or above
the National Median Income.
IMR's headquarters office is now located on U.S. 19 North in the Countryside
area of Clearwater. 150 existing employees will be relocated to a new building
which will be developed and completed as the first phase of the IMR Global
Center on or about January 1, 1999. In addition to trle 150 existing employees,
IMR plans to hire 560 new employees in tile period January 1, 1999 through
December 31,200'1. The average annual compensation of these new
employees will exceed $40,000. This does not include the value of benefits
provided, as well as the value of stock options and stock purchase plans
provided to these employees. These new employees will be located in all three
phases of the IMR Global Center. The first phase will consist of approximately
40,000 to 45,000 square feet of office space in a single building, the second
phase will consist of a software research and development facility of
approximately 70,000 square feetl and the third phase will be an international
training center of approximately 40,000 square feet. Along with these three
phases surface parking will be provided for approximately 700 automobiles.
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3. An ability to demonstrate innovative technology and design.
We have asked our project architects to prepare a statement summarizing the
design philosophy of this new project. Following is their statement:
THE SITE
This site can be regarded as the gateway to downtown Clearwater. As such,
any development of this site must be of significant quality which will be
expressed in the architectural form, materials, and landscaping. Ttlis
development will convey signature quality in pari because the site itself is so
significant in both size and location. The Corporation, which will locate its
international headquarters on the site, is a multinational producer of software to
markets throughout the world. The IMR Global Center development must
convey this status to ti~le public without the necessity of being pretentious.
Through professional architecture and planning it is possible to express the high
technology which this Corporation represents. The use of appropriate forms,
materials, and building masses will convey this imagery. Through architecture we
will also express an open and inviting business environment to the community at
large.
DESIGN ISSUES
With such a significant site and a corporate client which serves world marketsl
there is a substantial responsibility placed on the development team to execute
this project according to the classic principals of good corporate architecture.
Some examples are:
1. Unity Through Master Planning
The project will be developed in three phases over a period of several
years. At the outset the project will be master planned in accordance
with a concept of organizing buildings, parking, pedestrian open
spaces, plazas and landscaping. Without such an approach, there
will be no long term potential for strong unity in the development of
building in three phases. The master plan must be controlled by a
major organizing theme such as a plaza, arcade, or a grand feature
which will organize these elements.
2. Architectural Massing
This project rnust incorporate clever massing of the architectural
elements. Such a device lends the signature quality necessary to a
successful development. Many corporations use such an element in
their headquarters to convey their corporate logo or icon for imagery.
This project must have a great profile against the city skyline and
through manipulation of geometry and forms, this quality can
become inherent to the development and lend special distinction to
the site.
3. Site And Landscaping Development
Because this site is considered a gateway, the use of ground
elements such as landscaping, pedestrian seating areas, special
lighting, and water elements must all be features of the development.
Since the project will also incorporate surface parking, it will be
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developed at a density typical of a suburban office park using low
and mid rise structures to house the three phases of development.
With a broad plane of site area and adjacent surface parking there is
a great potential to enhance the development through the use of
creative landscaping and site amenities.
4. A Landmark
This project has the potential to be a landmark in the community,
thus, the conceptual master plan will consider a dominant vertical
element which will immediately identify the project.
5. Summary
Comments of a respected architectural critic suggest that a
successful project must possess "Firmness, conlmodity, and delight".
The IMR development must exhibit these qualities. Firmness,
suggesting a bold use of structure and permanence of character;
commodity, to emhrace operating functions of IMR Corporation.
and delight, in their appearance and relationship to the community
at large.
An Ability To Provide A Financial History
We are attaching as an exhibit to our proposal the 1996 annual report for the
Corporation, as well as the S.E.C. form 10-Q which shows the Corporation's
complete financial information as of the end of the third quarter (September 3D,
1997). These two documents will demonstrate that the Corporation is a strong
viable financial entity with a worldwide presence which will bring significant
economic credibility to the downtown Clearwater area as a result of the
corporation"s commitment to locate their international headquarters here.
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SUBMITTALS
The following submittals will be required as part of the RFP/Q:
1. The proposed economic and land use of the site and detailed or
conceptual site plans
Under categories one and three of the Qualifications Section of this proposal we
spell out the fact that no detail or conceptual site plans will be submitted with
this proposal because of the short time frame available since the consummation
of our development agreement on December 18, 1997. We did provide under
Section Three of Qualifications the architects description of the philosophy of the
project design and how we propose to translate the corporations image into a
strong architectural presence. The best way in which City Officials can satisfy
themselves as to the proposed development and the quality thereof is to review
the projects completed by members of the development team as set forth in
their specific qualifications.
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The name of the firm, address, telephone and name of
representative authorized to negotiate with the City of Clearwater
officials
Attached is the original letter dated December 1 8, 1 997, signed by the
President and Chief Executive Officer of IMR, appointing Justice Corporation,
developer of record and myself as authorized agent to conduct such
negotiations as may be necessary to conclude this transaction.
Albert N. Justice, Justice Corporation
19329 U.S. 19, N. Suite 100
Clearwater, FL 33764-3156
Telephone (813) 531-4600
Fax (813) 530-4004
3. Existing locations of business
Attached is a sheet which shows the detail of the worldwide operations of
Information Management Resources Inc. They have a corporate presence in
four U.S. cities, three cities in India, one in England, one in Northern Ireland, one
in Australia, and one in Ontario, Canada. This sheet provides the square
footages of the facilities at each location, whether they are leased or owned, and
the approximate capital investment in each, as well as the number of current
employees, and the number of employees at full capacity for eactllocation.
4. Names, qualifications and experience of key personnel
Attached to this proposal as an exhibit is a comprehensive series of statements,
brochures, and qualifications, as well as the experience of all personnel who are
members of the development team. This information will readily demonstrate the
quality of the development team members, the immense experience in similar
and larger development activities and their commitment to the Clearwater
community.
5. A summary of qualifications of the developer and the person who
would be directly responsible for supervising the design and
construction of the building on the site, especially with regard to his
prior experience in accomplishing developments of similar projects
in scale and character to that which is proposed
Attached as an exhibit to this proposal is a personal and corporate resume' of
my experience as an office building developer since 1960. In addition, I have
provided a corporate brochure, as well as project brochures to illustrate the
types of projects with which I have been involved during my 37 year career in
commercial real estate.
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2.
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A statement identify the firm which will be responsible for managing
the development, including a description of the form of the
relationship established between the development and management
organization
Justice Corporation has executed with IMR a detailed agreement which makes
us responsible for three specific areas of the project: 1. Site acquisition; 2. Total
project development responsibility; 3. Facilities management of the completed
project.
A summary of the qualifications of the management organization,
especially with regard to the management of other facilities of
similar size and characteristics
Justice Corporation, under its contract with IMR, will be responsible for all facets
of the physical operation of the completed project on a day to day basis. \^le are
providing a number of brocllures showing similar projects which we have
managed in the past of similar or larger size in both the Clearwater area, as well
as throughout the State of Florida.
8. A detailed narrative staterraent describing unique features and/or
any additional tenants
Under section 3 of the qualifications portion of the proposal we provided the
architect's narrative describing the design philosophy and the types of unique
features which we anticipate including in the development of this project. The
architectural firm and Justice Corporation have worked together on numerous
projects over the last 20 years. The design and development of the Arbor
Shoreline Office Park, a five building office complex, located in the City of
Clearwater, is one of the best testimonials as to the type and quality of
development which can occur as a result of the cooperative efforts of the
architect and the developer. A brochure on that project is attached.
9. A statement reflecting the financial position of the developer or
development team
This development will be done using 100% of all necessary funds provided by
IMR who will be the owner of the total project. Neither the developer nor any
member of the development team has any financial interest in the project other
than our individual and cumulative commitment to bring about a development of
the highest quality which the owner and the City will be the mutual beneficiaries.
Because of the fact that the developer, as well as all members of the
development team will have no financial interest in the project, no financial
information will be necessary as a part of this proposal. The necessary financial
information regarding the owner has previously been addressed in this proposal.
10. A Statement Indicating the Financial Perforrraance of the
Developer's Past Developments
None of the developer's projects have failed to perform financially. None have
been foreclosed by lenders and none have been deeded to lenders in lieu of
foreclosure.
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11. A List of Projects Done Under the Aegis of the Developer, Their
Location, Date of Completion, and a Brief Description of Their
Physical Characteristics
List of Office Buildings for which Albert N. Justice served as developer or
development consultant
.:
1960-1970
All of the office buildings listed
below were developed in the
Richmond, Virginia area
Three story 30,000 sq. ft.
building for Maryland Casualty
Co.
Three story 35,000 sq. ft.
building for Insurance Co. of
North America
Three story 45,000 sq. ft.
building for General Electric
Co. and Fireman's Fund
Insurance Co.
Three story 35,000 sq. ft.
building for Reynolds
International Inc.
Three story 301000 sq. ft.
building for Sperry Univac
Corporation
Three story 30,000 sq. ft.
building for Service Bureau
Corporation
15,000 sq. ft. one story
building for General Motors
Acceptance Corporation
Two story 25,000 sq. ft.
building for Robertshaw
Controls Corporation
Three story 15,000 sq. ft.
building for University CIT
Credit Corp.
151000 sq. ft. two story
building for Moore Business
Forms Inc.
Three story 25,000 sq. ft.
building for Remington Rand
Corp.
Two story 15,000 sq. ft.
building for Mutual of Omaha
Two story 15,000 sq. ft.
building for PCllnc.
30,000 sq. ft. medical facility
adjacent to St. Mary's
Hospital
20,000 sq. ft. one story
medical facility for Hamilton
Medical Associates Inc.
1970-1980
All of the buildings listed
below are office
Richmond, Virginia
4 story 40,000 sq. ft. building
for Continental Insurance Co.
Two story 52,000 sq. ft.
building for AT & T
Two story 20,000 sq. ft.
building tor Liberty Mutual
Insurance Co.
One story 10,000 sq. ft.
building for Prudential
Insurance Co.
Clearwater, Florida
Seven story building, two
single story buildings,
totalling 75,000 sq. ft. Arbor
Office Center
Eleven story, 1201000 sq. ft.
building for Bank of
Clearwater
Ft. Myers, Florida
Five story 60,000 sq. ft.
building Sunrise Office
Center
St. Petersburg, Florida
Four story, 40,000 sq. ft.
building Florida Federal S & L
Lake/and, Florida
Seven story building (two
parking levels underneath)
Florida Federal S & L
Tampa, Florida
Four story 35,000 sq. ft.
building Florida Federal S & L
Altamonte Springs,
Florida
Three story 25,000 sq. ft.
building Florida Federal S & L
1980-1990
Clearwater; Florida
Two five story office
buildings, three one story
office buildings, totaling
140,000 sq. ft. on 16 acres
Arbor Shoreline Office Park
1990 - 1997
Planning now under way for
Phase III, Arbor Shoreline
Office Park for 11 0,000 sq.
ft. 5 story building.
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..
-
12. A Statement of the Relationship Between the Developer and Any
Parent Companies Or Subsidiaries Who Might Also Take Part In The
~v~lopment
Tt1~eveloper has no parent companies or subsidiaries or joint venture
partners who will have any role or responsibility in the proposed development.
13. A Statement Providing City Staff the Authorization to Verify
Financial And Other Qualifications
This will authorize the City of Clearwater to verify all financial information as
related only to Information Management Resources Inc. The City Staff is
authorized to verify all qualifications as contained in this proposal for all entities
who will have a specific role in the development process.
14. Disclosures and Summary Narrative
The developer hereby discloses that he is represented by the law firm of Hill.
Ward and Henderson, 37th Floor, Barnett Tower, Tampa, FL, telephone number:
221-3900, fax number 221-2900. This law firm will assist the developer in all
negotiations necessary with the City of Clearwater, including. but not limited to,
the negotiation I preparation and execution of a sales contract between the City
of Clearwater/CRA and Information Management Resources Inc. The developer
discloses that it has no financial interest in this project and that it is not a joint
venture partner with IMR or any other member of the development team. The
developer's sole compensation will be provided by its client IMR and by no other
entity. The developer discloses that the following ten sections have been
prepared by the law firm of Hill, Ward and Henderson and have been reviewed
and approved by IMR.
IMR proposes to purchase from the City of Clearwater or the CRA the entire
14.3 acre parcel which is the subject of this proposal. Listed below is a general
outline of the terms of conditions which would be incorporated into a definitive
acquisition agreement for tile purchase and development of the subject
property:
1. The purchase price will be One Million, Five Hundred Fifty Two
Thousand, Five Hundred Dollars ($1,552.500.00).
2. The closing of the purctlase of the property will occur not later than
March 15, 1998.
3. The purchase will be contingent upon the City and/or the CRA
providing IMR with development incentives including, but not limited
to, a waiver of all development or impact fees, the providing of all
available tax incentives, and the providing of offsite retention (which
offsite retention shall be a fully insurable appurtenance to the property
from a title insurance standpoint). The offsite retention shall be
sufficient to accommodate the full development of tile property
without any onsite retention being required as a part of such
proposed development.
l'!r'~ 'If '~r llllI 1f 7
,
4. The purchase of the property will be subject to the City/eRA
completing, prior to closing, the ongoing environmental remediation
to the property and providing to IMR the satisfactory confirmation
that the property is "clean" from an environmental standpoint. The
City/CRA will provide IMR with a full and continuing indemnity for any
preexisting environmental conditions located on or about the
property.
5. The purchase will be contingent on the City providing full zoning,
site plan, and building plan approval to IMR on or before March 15,
1998.
6. The purchase will also be contingent upon IMR receiving confirmation
that it qualifies under the State of Florida's Qualified Target Industry
Tax Refund Program with respect to the project to be constructed on
the property.
7. The City/CRA will be required to deliver a marketable and insurable
title with respect to the property. All closing costs related to the
acquisition of the property including but not limited to documentary
stamp taxes, survey costs, and title insurance costs shall be paid by
the City /CRA. '
8. The purchase will be contingent upon all utilities necessary for the
orderly development of the property being readily available at the
boundaries of the subject property and at locations satisfactory to the
purchaser.
9. The purchase will be subject to the purchaser's approval of any eRA
tax assessments, and the use thereof, which may be imposed upon
the property in connection with the development.
10. The purchase will be sUbject to the negotiation and execution of a
definitive and binding purchasing agreement mutually acceptable to
IMR and the City/CRA. Such agreement must be executed and
delivered by the parties on or before February 5, 1998 in order to
accommodate IMR's critical schedule for the proposed development
of the property.
15. Important Benefits
It is vital for anyone reviewing this proposal to understand the incredibly positive
economic benefits to be derived by the City of Clearwater as a result of this
Corporation's decision. The State of Florida median income wage is $27,483.
The average compensation for new employees to be hired by IMR for this
location is more than 50% above the Florida median income. This fact and the
number of new employees (560) is but a further tangible example of the
significance of IMR's commitment to the City. It is also important to realize that
IMR is currently engaged in negotiations for additional programs within the
scope of the company's operations which could bring about the need for larger
facilities and a greater number of employees than those stipulated in this
proposal. Also the Corporation's interest in acquiring additional properties
adjacent to the subject site adds further credence to IMR's objectives in Hie
1I1rl1!' r 11' T( 11 1( .~ 8
. 'i~.,~,:~, ~";!:::~ ". ;3 '~f':~,
..
downtown area. All of these factors lead us to the inescapable conclusion that
IMR's decision and the resulting development could be the single most
significant economic benefit to the downtown area in the last 25 years.
Please see attached chart from Sf. Petersburg Times of January 2, 1998.
Any member of our development team is available to answer any question
which any City Official may have with regard to this proposal. Please understand
that from IMR's perspective time is truly of the essence in every aspect of this
transaction and any delay beyond the dates stipulated will result in significant
financial loss to IMR. It is imperative that every City Official understand these
facts and act accordingly.
We appreciate the City's consideration of this proposal and look forward to its
early acceptance.
'Tllffrfl'lTT 9
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Exhibits to Proposal
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'7/73/97
0.;. NO.
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Financial Highlights
Revenues (in thousands)
'96"\' \ ',/1.\\,. {'j I ,.' )-,~:,f~ ""'-, ,
/ \ I I' ".' 'I' I ~~,(,..t,ll~"" " ~
~:=-~"J.0:d~?E_ $27,948
'95;-\1 ,\,,\. ".. "'. ",,'i"'\'
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Stockholders' Equity (in thousands)
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~ $2,708
1996 Increase
Yc~'r Ended December 31, 1996 1995 Over 1995
(in th(llIsu,uls, t'X('t'l't pt'" shure datu)
RcvclHu's $27,948 $22,700 23%
Gross JlI"Ofil 11,704 8,991 30%
Income from opcraliulls 4,684, :3,508 34%
Pro forma datu:
Nel ilu'ome 2,545 1.612 58%
N('l in('ome per share $0.22 SO.12 83%
Weighted average common and
(~ummon stuck equivalent
shal'es outstanding ] 1,720 1:3,703 (14%)
Year-End Balance Sheet .
Working capital $30,729 $2.355 ] ,205%
Total U8sc~t!l 48,953 8,666 465%
Long-tl~rm debt,
rwl of eurn'nt portion 0 1,184
Stockholders' equity 40,356 2,708 ] ,390%
...
.
Tht. "1l~1 yt'ur was ont' of {,oll~idt'r[\bll' [\chil'\'I'Illt'nl for
Infonnulion l\lanagl'ment R""sollr("'ti. Inc. (\\11{ I. ()lIr rel'ord
}l)C)() pf'r[orllJarH'f.' r('pre:-'f'nls our rhird (,oll~e('uti\'l' Yt'ar of
strong rt....,~nlw and t'arning~ in('rt-'a~l'~. \y" slll'l'l'~sfull~
('omplded un initial Pllblic offt'ring 011 :\ o\'l'lll!wr B. I l)<)()
undo with nel prol,(,t'd" of S40.7 llIillion. WI' ilH'Tl'asl'd our
stratt~gi,' f1exibilily 10 pursue selective a('qlli,..ition~ and
l'stabli~h additional off~lllm' ()pl~raliolls, IMH ulso gairwd
promineIH;'e u:; a It~atli n~ provider of f ullli fe cyclt-' Year 2000
('ulllplian<:e servi('es, f'nahling us 10 build u suliJ dil~nt base
of FOl1unt. .500 COInpunies. Equally importanl, we rf'alized
lht,~t. achievements while cOlltiJluin~ 10 proviclt' sullslanliul
l'ore transitional outsourcing services. IMR's transitional
sen'iecs assist 0111' customers in the maintenance' of muinfrunw-
based legacy applications Lind in the tran:.;ilion 1'1'0/11 It-'gi/l'Y
systems to open architecture, dient/st'rver and other emerging
leclUlologies.lllis reflects our long-Ieml str-r.llt.~y unJ COlllrnitnwll1
10 provide a broad range of Information Technology (IT)
solutiolls rather than fo(~using exclusively on fillite Year 2000
compliance work.
Converging market trends ha\'t~ created a trenaenc!ous dt>mand
for tht.' outsourcing of labor-intensive IT projects. An
increasingly competitiVt' marketplace has forced companies
to make fune/arnental chullges ill tlrt'ir business processes.
T1wse t'hanges, in turn, have l'ompelleclllluny husinesses to
redeploy staff llnd reduce cosls ill order to achieve greater
retutn on investment:;. At the same time, rapid tcdlnological
advancements offer the promise of fuster, more functional
and mort> flexible softwar(> applications. but most (,o!npunies
are challenged by limiled budget~ und the shortage of highly
skilled technical professionals ill tire murketplace.
IMR provides application:, software outsourcing solutions
for large "usjnesse~ wilh inlen~i\'c iliforrrwtioll processing
needs in Iht' lJnited Statl'os. till" U lIitcd Kingdolll and \VI~iilt.'rn
Eumpe. We deliver mo:4 of thest~ ~en'icI'~ through our illnovativ('
" \ \ C J \ / I ,~1 '" " I " .,
I . ,\' 1/ I., ,I ' '^ ,', I'
,. I ' , f "' I 'v7. '-... "
~::' 'i;lg~\~~;) l:::',,\\
bllsines~ model and
differt'ntiuted execution
pr()l'f~s:-;^ IMH Cft'att'S
11 project team whose
lllembers work from
tll J't'(' strategic
locatious: Oil-silt' with
the dient. off.sitl' in our Florida headqllartl~rs. and offslrorc~
in our software development centers currently in India, Our
offshore softwaw facilities arc linkc~{1 by satellite cOllllllunientioll:'
to holh our offi('t's and Ih" officps of rfUmy of our clients, cTeatillg
a virlual ":Z.t-hour \\oTk shift'" due to tht, time difft'n'nce
between tll(' United States and India. Thi~ IIni'luI' model
allo\\'~ us to optimizt' ('ontinuolls client illltoral'tiflll and
C'IJ:-'IIfl' that they re'~l:'i\l' high-quality, eosl t'fft'c,tive sf)lutioJl~
011 tillll' and \\ithin budgets.
()lIr diffl'wntialt'd 1'\I'('lItion process involw's thrt'c critical
I 'CJlIlI)()IJf'llb. 0111' propridary TSQ:\1 softWUl'f' ellgirwering
pr(ll'l'S~ i~ :It'tually a pad;,a!!l' of ddined software devdofllllcnt
prol"'~~t'S dt'siglH'd to lIla\illlizl' quality in our ~t~I'\'i('('~. Our
offshoJ'(" facililies providl' hulh 1MB and our (.Iil'nb maximum
value sirwt' <.l/,pro\ilnatf'ly 70% of flroj,'cl work is done from
t/lI'~e IOl'atiol\~. Lastly. 0111' prol'ril,tary softwuw lools allow
lIS to rt'tlUCI' both tll<' cost and lillII' requiwd to sucl'cs!'fully
('omplete Year 2000 re-I~ngineeril\~ and migratiol\ I'rojeets.
Our husiness model and our delivery process aJJow tilt'
Company to offer our services on a fixed-prit,C, fixed-tin1l'
frame basis, which together differentiate IMH from any otlwr
IT 8crvicc provider.
Wilh more than 40 aeti\.c en~agell1enls unu!"r way. IMR hus
emerged as a leudin~ provider of full life eyc1e Yeur 2000
conrpliwu.'p sen'ir!.'s, which correcl dall'-intellsivl' legacy
softwun' code amI data subject 10 failure with the coming of
Ihe new rnill(~nnilllll. In fact, WI' II[1\,e hl.'l'll ahle 10 turn most
of our initial/llllllysis and planning f'llgagellll'nts into
.
slJb~tantilll Year 2000 COfl\'c'rsion c:onlral'ls. As demand for
our servi('(~shas 1l<'l'e1erult~d. wc' hav,' flleus,'" 011 Ilto!"c'
C'lIstorners wilh the greatesl pOlt'ntial fill' IOllg-lt'rlll c1it'ul
relulionships. III shllrt. ollr o"jt~('li\'l' is 10 p\'oh,. Ollr Year :2000
projt>cts into long-lt~rrll ll1ailltenUlI('(~ work.
Clearly, our short-Icnll opportunislic slmlel-,')' 10 f't.deplo)' selected
resources to Year 2000 servic,'s is workillp; vcry well, as
evidenced by our lllrollg fourlh quarler. Pro fomlu IIcl income
increased 122% to $1.0 million and lolal revenue increased
:i6% to 86.3 million over 1995 fourth quarter results. These
results refleet extremely slrong growth in IMR's Year 2000
projects, up 1.281 % to 83.7 million from S268,OOO.
For full year ]<)96, 1MB set record highs in total revenue,
gross profit margin. pro formu net income and earnings per
share. Total revenue increast'd to 827.9 million, a 23%
in(~reasc over 822.7 millioll ill 1995. Pro fonna net income
rose 58% to 52.5 million, or $0.22 per share from $1.6
million, or 50.12 per share in ]995. Last year. even with
increased employee salaries and benefits, we brought more
of every sales dollar to the bottom line than we did in 1995.
As a percentage of total revenue, the annual gross profit margin
improved to 42% for 1996 compared to 40% for] 995. Our
margin, which is one of the highest returns in the industry,
reflects our ability to reduce the cost and cycle time of
delivering IT service!> through IMIl's proprietary TSQM
software engineering process, our methodologies and toolsets,
and our offshore software development facility.
In February 1997, we acquired lOO% of Link Group (Link)
Holdings Ltd. Link is a leading provider of transitional
outsourcing software services in the United Kingdom
and Europe whose advanced tcchnologir:al capabilities,
particularly in the areas of software development for Lolus
Notes unJ I ntemet/intranet/extranet applications, will
add to our tedmical expertise and breadth of services. This
transaetion is in keeping with our acquisition strategy 10
apply IMR's business model and delivery process to the
operatiuns of selected companies that provide synergy with
our U.S.-based serviees, all ,'stablished l'U5tO/llCr base, and
solid opportunities to improve their profitability. In particular.
Link's reputation in the market should provide the foundation
to expand our international busine~s.
III \larch 19()7, we strengthened our senior IIHlIHlg;ement
It'alll with I1t'W profcssiorH1I~ und rt-deploYt~d pxistilJ~
t'xc('utives 10 provillc 1MB with Ill(' l'apahilities to support
the sigllifil'allt growth we see ill fW1I1 of LIS. Eal'h hrings 11
wcallh of valuable skills and professional and induslry
experience to his new position.
· John R. Hindman - joined IMH as Chief
Financial Officer
· Michael J. Dean - appointed Vice President
and Controller
· Kasi V. Sridhanm - appointed Executive Vice
President - Special Projects & Strategic Planning
IMR's growth is dependent UpOIl not only our strong
management teulll. hut also on our ability to allrael and
retain highly skilled IT professionals. We believe strongly
that. by tifft-ring vpry competitive finilncial incentives.
trainin~, education and career development, we have the
programs in place to effectively deal with the staffing
challenge confronting the IT industry.
Clearly, ] 996 was a very good year for the Company. bill we
expect to see continued improvements ill our profitahility
and an accelerating revenue base. We helip\'l~ that IMR is
well positioned for dramatic growlh in ] 997 and heyond,
given our strong baeklog in committed, l'olltracted projects,
the significant amount of potential new business in the
pipeline, and the Link acquisition.
J would like to thank our dedicated employees ior their
contributions throughout the year and our shareholders and
clients for their continued support. We look forward to
reporting our progress as 1997 unfolds.
Sat ish K. Sanan
Chairman, P,,'sidellt and Chili Executive Officer
April II. 1997
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The Advantage of the
IMR Exe(~ulion Model
- High Quality,
l\1axiululll Value,
Lower Risk and
Ac(~elerated Delivery
Sin('(' the founding of I:\IH ill 19BB. ollr
missioll has Iwell to hdp tlw IllfilIlllutioll
T('('lilwlngy (IT) d('partllll'lIb of laq!t.
IHlSilll'SSI'S. pl"imurily ForI une ;100
("olllpunil's. ('fTt'('li\'ely IJIUIWI-!C tilt' major
cllUlI""gt'~ of mo\'ing from Ih(. old
tt.ehllology of It.~Ul'Y soft wart' ,.;ysl('ll1s
to cli"lIt/sel"n'l". ohjt~l'I It'ch Illllogy or
olh('r t'IJI('rgi II!! It't.'hnologit's. I II doillg
so. w(~ slri \'I' 10 d('\'t.lop "strakgil',
long-krill par-lilt'!''' rdaliollships with
ollr ('Iit'nls. sharing hoth till' risks and
rewal"d~ asstH'ialt'd with olltsOlll'('illg
(.t1gag('IIIl'nb. 'lil\\'Hnllhal 1'11(1. lilt' ('on'
t'll'll1(,llts of 0111' hllSill('sS philosophy
un' 10 o('fl'r IIHlny uf 0111' IT St'r\,j('('s Oil
a lIXt'd-pl"i('t', fixl'd-linlt' fJ'UIlIt, hasis alld
10 ('lIIl'loy a qualily-dri\('1I (,x(~('lllioll
mod PI 10 l'\'('ry olltsour('illg .'lIpl~('ll1t'lll.
0111' dit'nls hu\'(' signifil'ant IT hudgt'ls
a II( I !'t' <J 1I i 1'('!lIt' III s 1'0 I' a P II I i (' a t i 0 II
lIIainll'lIUIWl', Yl~ur 2000 ('on\pl"sioll,
IT slaffing ser\' j('t's and n~('url"il1g n('eds
for soft wan' dt'\'t' )oplllt'nl. WI' St'n'l~
(.lit'lIb ill a val"it'ly of illdu~tries"
ill('ludinl! f1rwlll'ial st'l'\'il't~s. insllralH....
IIwnufa('lurin~. r't'\uiI alld IIliliti(~s.
I,ur~t~ Companies Fnc(~
Mujor IT Issue~
In Ihe ilH'rt'asillgly cO/llpelili\'t~ husilH'sS
envil'Ol1l1lt'nt. tll<' irnprovelllf'1l1 of IT
sollltioll~ is t'sselltial for t'ompani('s
10 !whil'\'(' ~rt'alt'r productivity alld
to 111<11I a~l' I h(' i r opt'ra I i OilS mol'('
effi('i.'ntl\', Clit'lll/sl'n('r and olh('r
(.nH'rging \t'('hllologies offer tll<' prolllist'
of faslt'r. lIlort. fllnl'tiollal and 1l1O!'t.
n(~xiblt. software upplicaliolls. Howl'\'er.
lar~l' organizaliolls IIlllsl l!nlpplt. with
lIIajor issues ill impIPIII('nling husilH'SS
solutions elll'OIl1JlUssing Ihl's(' Ill'W
le('llIlologit's. Should a ('olllpan)' dl"wlop
nt.w softwal't. syslt'lIls 10 support ib
rt'-l'lIgi lw('red hll~.;i IWSS pro('..s:',es or
III igrall' ('xist ing It'wlt,)' S)'slt'IIIS 10 OP('II
sVsll'lIls and ('lit'lIl/st'l'\'t'r ('IJ\'irollll\"nh'~
\low dot'S a ('olllpaIlY lIS(' IIt'W ll'dlllol010'
at lht' sunil' linH' it is alll'llIpt illg 10
lIIillimiz(, fix.~d ('osts'~ lJow l'an a
('Olllpun)' shift th.. It'('hllil',,1 fO('lIs of
ils in-holls(' IT slaff 10 dl'\'('loping and
i mplt'lIlt'nl i n~ IWW lech IlOlogi('s. gi \'('n
Ihat lll<' salllt' slafr Illllst ('onljI1lH~ 10
support existing legacy syst'~lIIs and
dal(,d tt'('hlloIClgy'~ 1-10\)' ('UII YOll dt'velol'
and illll'lellH'nl n..\\' softwan~ systellls
J'(~quirillg highly advane,.d pr(jjl~<'I
managemelll skills so Ihal proje(.ts
un' ('omplt'I(.d within budgt.t alld 011
lime'? This d('('ision-Illaking pnH'('SS
is further C'ompIicalt>d hy a shorlug('
of Ihe highly skill..d individuals
rpquired 10 develop new solulions and
lilt' urgenl need to rt~sol\'(' Ih,. y(.al"
2000 prohl elll,
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~omestic software developers,
Tlu.' l\lnrk.>1 Fur ()uISOlll'f'in~
IT S{'f'\'ices Is Jlll!!{'
Oubouwing rt'prf'~t'nl:" a pro\"'n co~l-
effl'('livp solulion for lIIa/ia~ing till' major
l'hallcngt's pn'sf'nlt.dby Iht' ledlllolo~i('aJ
Iransition 10 new syslems cOll\billl'd
wilh Ihe ongoing IWl:'d 10 maintain uld
:-yslf'ms and addrt~ss thl' shorl-It'rm
)'f'ar 2()()() problem, Dataquest. a
rel'ognized murkpt n.seaJ'l'h firm,
eSlimated that the market for s\'slf'ms
illlf'gralion. I.'onsulting. applicutions
developmt'nt and oUlsour('ing st'f\'icl's
was approximalt'ly S91 hill ion worldwid,.
in I <)1)4 and expeds it will grow hy
approximaldy I (l..Sl){ annually Ih rough
] 999. :\Iso important. and. in addilion.
companies will he n'<Juin'd to ('ollmlit
substanlial financial n'SOllrl'e~.; 10
addrl's.;ing tht' 'ft'ar :ZOOO issue. In
fael. The Gartner Group. a rt'cognized
industry soun't'. has ,'slilJlalt.d Ihal
Iht' worldwide ('osh.;. includi "l! in-
house and oulsourcing ('osls. 10 n'sol\'l'
the Year 2000 prohlt'llI could r;,lllgi'
from S:~O() billion 10 S()()() billion.
Hi H Is lJ ni()uely J)ifft.'I'.~1l1 From
Other IT Pro\'idcr!'<
\'\'t' han' ('reated a !)U~iness modl,llu
efft'divl'ly dl~al with tbt' challt'lI).:t.:,
our dit'llts face ill ('upilalizinp: on nt'\\'
It~t'h nologit'ul OPI'Ol1lllli tit's. To 01'1 i III izl'
l'n~t sari IIp:S and l\('I'l'It'ralt' projl'l'l
dclin.ry. Wt. ~('alldt'ssly malla).:I' Ihl'
delivery of otlr st'rvil'('s IlI'l\\'t't'lI on-~ilt,.
off-~ilt, alld tln~hort' lI'alllS, Tilt' adual
lasks allo('uted to t',ll'h It'alll an'
dt'lt'nllillt'd principally hy lhl' <1111011111
of c1il'lIt illt<'l'adioll I'l'quil'l'd al lilt'
1,Iit'nl :.;ilt, 10 l'olllpll'll' tilt' projl'l't
:-tH'('t'~:.;flllk TIlt' frolll-,'lId plta:';I'. whil'h
may il)('lud., n'lfuin'lIIl'nb all.dysis. hi!!11
len,l dt'si/!Il alld Il'l'IlIIil'al an'hitc'('lul'l',
is I'olllplt,ted Ity lilt' Oil-silt' proj"I'1
Illallagt'r and lilt' prnjt't'l I/'alll lhrough
illlt'ral'tioll with 11ll' I'/il'nl. TIlt' fixl'd-
pri,'.' illlplt'lIIl'lltalioll I'hast'. whidl
lIIay indud,' programllllng. unil
ll'sljn~ and sy:.;I{'lIIs I,'stin/!. is lar/!t,ly
pt'rfortlll'd olTshoft, ria ~aldlitc' link.
TIlt' ba('k-t~IHI pllLlsl' -- prowulllllling.
unit testing and Syslt'lll It'stin~ - i~
Ilt'rfollllt'd offshon' \'ia ~alt'llil(' link.
Our off-~itt, team lo('akd al I ~1 rr~
Florida Ill'adquarlt'r:- t'oordinalt's till'
efforts of Ihl' 11ll-~ilt' and offshon' leallls.
as wl'll as monilorin/! and Illanaging
Iht, qualily of Ihe o\'t'rall projt'I'\. By'
stratt'/!icillly lo('aling our :.;oflware
dt'\'tdopllwnl ('I'Hlers. WI' an' altl., to
a('hi('vt' major efficiencies dlle 10 paralld
dt'\'t'loplllt'nt, tillle ZOllt' diffi.rt'I}(,t'~ and
11ll' llSt' of multiple shifls.
(,hml it)' is ~o imp0l1anl to us thai WI' haw
dt'\'t'loped a unicl'll' and propric'lary
soft warl' t'n~,d nt't'ri II~ I'ro('I':';:'. Tola I
Soft wart' ()ual ily M alHlgt'lnt'nl (TSC,)"),
Ihal Wt' apply m'ros:.; all of our :';1'I'\,il'l':-'
10 d..li\'t'r high quality. l'O:.;t dfl'",i\'l' IT
~ollltiolls to our ('Iients, TS(,)~1. a :,t'l of
deli Iwd soft Wll /'(. ell'\' (,IOlllllf 'Ill P n Wt ':-OSI',...
It'l'hniqllt's amI tools. is illlplt'llIt'nll'd
10 lIIuxillliz.' qualily in I ~lIrs pnll'l':-S.
ddirl'mlJIt,~ alld st'rvit'(~s alld 10 lIIi IIi mizl'
projt't'l ri:.;b., TIlt' ollwr Iwo t,II'lIlt'nl:- of
IMH's dilll'I'f'lIlialt'd I'XI'I'ulioll prO('I'SS
an' 0111' ol'f:.;hol'(' softwal't' dt'\'I'lopIIIl'III
1'1'1111'1':' allt! our proprif'\ary toolsl'h,
Thn lll!.dl sall.llitt, ('tJlIlnllllli('utioIlS. muny
of Ollr c'lil'nl~ un' link..d 10 offsllllJ't'
lat'ilitil's wht.rt, aPI'I'OXilllalf'ly 7()f!c of
011I' {'lIgal!l'IlIl'1I1 work i:- I It'rfol'llwd , Ih
takillt: advanlagl' of till' tillll' difft'f('Ill't'
Iwlwl'en tilt's.' offsllCln' faeililit,s likl'
India ulld tilt' t:nilt'd Slall's. WI' (~all
Nt'atl' u \'irlllal "SI'I'OlHI shift" for our
i\orlh AIlIt'rit'all c,lit'lIls. allowillg for
IlIOrt' ra pi eI l'OIll pi ;'1 i 011 of I'rojl'('( sand
off-pl'ak utilizatioll 01 t,lit'lIls' opt'raling
l'tlpa('ity, Over Ih(' pasl lwo YI'ars. Wt'
hurt' madt, a sigllific'anl ill\'f'stlllt'lIt ill
IIIl' dl'~ii!" and df.\'t'loplllt'nt of a sl'l of
proprif'lary soflwan' lools. III uddilioll
10 stn'a111lillini! and fa('ililatillg 'ft'ar 20()O
projt'l'h. IIIl'SI' lools wi II t'nahl., 1MB 10
I'apilalizl' 011 till' llt'xl :,igllilil'anl grnwlh
dri\'I'r in 0111' bllSilll':'~ - lilt' migration
frolll IlIUillfrall1l' t'Ollllllllilll! t'lIrirollllll'nb
10 flt-xihll' Opl'lI systt'llI archilt'ctmt's.
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allow IMR. clients to reduce. risk,
flUR Is Sharply FoclIsed On Long-
Term Husil1el's Strategit~s
1M ({ cmployf. a s)'stematk and disciplilu.d
approach to every uutsoureing engugrnu>nl
we undertakl~. The lhrt.e criticul
cumponents of the 1M H udvunla!!I' that
differentiate us from uther IT :-;en'i('l'
providers are: (I) our unique hu:-;itll':';~
model, which assigns project work by
funclion and location; (2) our ddin..ry
process, which ineludes our cost-efficient
offshore development fUl'ilili,~~, our
TSQM software engirlt.ering pro("~ss
and our proprielary t(}ol~p.ts; and (:3)
our ahilily to manage high quality,
fixed-price. fixed-lime frame solutions.
Ovcr lhe years. we have huilt a slrong
Company by effecli vel y i mplemt'nling
long-term business "tralt'gies. This
approaeh has worked wdl for 1M/{ as
cvidcnced hy the CUlllpan~ 's abilily to
earn preferred-vendor :-;tatlls with many
of tht' most respected ('ompanit>:; a('rO::i~
a bruad range <)1' industrit's. us wl'll a~
tilt' !'uITt'ssful <,tHlJpletiun of 0111' initial
publie offering. With the finami...1
rt~~Ollrt'I':, to 1II0\e forward nll)l'l'
ug~re::isi\'t'ly. we will !'t.t'k to t"nhan('e
our po!'ilion as a leadin:; provider of
("omprehcnsive transilionallT ollbollfeing
servin's und solutions 10 large businpssf>s
with intcnsive infonllatioll pnlCessing needs.
\\'t' strive lu devt'lop long-tcnn. strategie
partllt'l' rdationships with our ('Iienb
by intl'gratiug our un-sit~ persol\lwl
illln tilt' o(wrations lInd employl't'
("Ultll[,(' of our clients' IT departllll'lIls
alld rt~gularly making signifjc'allt
in\'f~stmellls in te('hnolog~' to support
thpir stratp~d(' tt.('hllil'al dirediol1. For
example. WI' recently al'quin'd ('('rlain
intt~grated advaJl(,t'd ('Iif~nt/senl'r and
computer as:-; isted software t'ngillt.ering
tc,t.llIlologit's to support several large
clit'1l1 projects,
We arc highly ('ollllllilled to improving
and l.nhullt.'ing our TSQM pro(~('ss. U~
well as OUl' pmpl;t'lary so!twuw I'n~neering
methudologies and tools(~ts, \\' i th tilt:'
rapid t'volution of tedlllOI()~,:', \\t.' belicv(.
it is imperative to c'0I1tinlJ<' to invest in
rest'arch awl development ill order to
continllously irnpron' proc!tH'ti\ity and
n'main highly (,olllpetit i\'/',
As U ('ore elelllent of our bu:-;inl'!-'s 1l10dt'l.
we will contilluP to focus Oil fi:v'd-pri,'e.
fixpd-timt' frame projects that signifil'Untl~'
reduce risk for our clients. while
providing BtR with higher relurns, To
ensure that we a('hi(~\'t' this "win-win"
objel'live. the fixed-tilllt' frame l.'ompOllt'nt
of a proj('('1 is divided into se\'t'rul
phww,.; wilh fn'quellt deli\'(~rahles and
rigorolls l11onitoring and management.
Clearly. di~t'rete projt'et phases make
it easier fill" IMR to c:olllmit to a fixed-
price fOf a project. mUllClgt' ('Iient
t'xpt'etations. maintain high qualit~.
and ('untrol ('osls,
I ~1 {{ also is ('o/ll'('ntruling tin kt'y
It'dll1ologit~s. including maintaining a
high It,\'e/ of klltlwledgt> of ad\'all('rd
It.dlllj('al areai"' such as djslribult~d
('OIllIHllin~ and lllulti-lIlt'dia. advalH't.d
t'a:-;(~ lool~. (,I i I'nt/st:'r\'t'r ledlllo logics.
objl>cl-oril'ntt'd le('hnolllgil's and rapid
lIllpl ieation dl'\'(' lopmt'nl. FllrtlJ(~nllol'c.
\1'(' ('onducl ongoing l'ersoll/u~1 training
tll ,'xpund tlu' kllowledgt~ of our employees
in tlwst-' an'as.
In order to attract. train and relain highly
skilled (~rnployees. panicularly project
managers. software engineers and other
spnior tr.clmi('al personnel. wp provide
a highly atlractiw. ('orporult' ('ulture awl
irlC'(, nt i \'(-' programs. \Vl' alstl ('['('ale an
individualized structun.d (,tI['('t'r growth
plan for our employeps,
In summary. 0111' busirwss strategies have
pf()\'ided IMR with 11 strong fOllndation
for enabling tlw Company to strengthen
it:-- leadi.rship posilion in lhe industry.
Vpry simply. our customers know that
in an i ndllst ry that's too oflt'n long on
proll1i~(.s and short on d('livery. IMR
has consislentlv exeeec!('d their
expectations. l.ooking fomarc!. we are
sharply focused on pro\'iding maximulll
rului' to our worldwide clIstomers. a
highly allra<'livf' (~awer path to our
employees and improving profitability
to our shareholders.
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UtH I'rO\'iclt'~ A
Broatl BUIW or IT St'r\'iC't!8
\\(~ dd i\'N 011 r l'olllprdwnsi \'t~ s(~rvi(,f's
il\dl~)II'ndently or a~ u total pueknge.
They include:
Software D(~"t~lol)Jl1ent Services.
We offer two alternatives (fixeu-price
software development or cooperative
development) to a,,-<;ist clients in developing
new applications for selected eJient/ser.'er
platforms. IBM mainframe platforms
and other emerging technologies. In
both instanees, IMR uses its TSQM
software engineering process. our on-
site, off-site. offshore execution model
and satellite communications to deliver
these projects on-time and within budget.
Application iUaintenam'e Scn'ices.
By assuming the responsihility for
maintemUlce of selecteJ legacy application
s)'!;tems. IMR is ahle to introduce process
enhanecment:,; that improve sl:rviee levels
to clients requesting modifications and
on-going support. Through our on-site,
off-site. offshore execution model. IMR
delivers 24-hour. 7 -day production and
emergency support.
Yt~ar 2000 Ser\'iccs. Our full life
cycle solution driven hy our CC-PAC(f}
methodology ancllhe mw of our
proprietary Transform2000'1' toolset
differentiates lMR from other IT
providers by rcdueing costs and
pwviding ser\'iecs for all phases
of u Year 2000 solution.
lligration ancl Hc'-(m~,dncerin~
Sen'i(~l'l;. l'IH's seril~s of n'-c'/Igilll'f'ring
tools (fransfonnnlS~\l, Transfonn VSAM@
and TransforrnDB2'\l) uutomah' many
of the processc's requireu to migrate
or re..cngineer legacy /lluinfruult'
systems to advanecu client/server
teehn%gies. therehy substantially
reuucing the time dnd cost to perfoml
these services.
Progranunillg alUl eOllsulting
Services. Our senior ('(JnsultaJ/ts provide
sef\'ices. including high It'vel proecss
analysis and strtltegie technical
consulting scn'iees to assist clients
in the development of sucl'essful
outsourcing strategies. These services
may include outsoureing of legacy
systems maintenance and migration to
advanced client/server technologies or
company-wide enterprise systems. We
also provide programming 5ef\'i(~es at
client sites on an has needed" basis.
DIH'!!! Bhw Chil' CU!llomer ntUI(~.
1M H pl'Oride:- ~;('r\'i('('s for large
husinesses with intensive infor/llation
processinp: needs in Ilw United Stutes,
tllp United Kingdom and Wl'slern
Eurolw. SOIllt' of IlUI" elients inelude:
SOFT\VAHE DEVELOPMENT
" EBSCO l/lllustric:,;. II/C.
· Ford Motor Company
· NOVCS Sl~rviccs. Inc.
· SOl1tlwrtl California Edison
· \\'inn Dixie Stores, Inc.
APPLICATION MAINTENANCE
· Daytol/ Hudson Corporation
· Michelin Tire Corporation
· Philip Morris International. Inc.
· SPS Payment SY:ltems. Int.
· Target Stores
YEAR 2000 CONVEHSJON
· Commercial Union
Insurance Companies
· Consolidated Edison of New York
· Johll Hancock Fillancial Services
· Mutual of Omaha Investor Sen,jccs Inc.
MIGRATION AND RE-ENGINEERING
· American Airlines, Inc.
· Detroit Edison
· Hogan Systems. Ine.
· Southern California Edison Co.
· Zimmer Corporation
PHOGHAMMING AND CONSULTiNG
· Fingerhut Corporation
· Fleetwood Enterprises. Inc.
· International Paper
· S2 S','slem~. Inc.
· Target Stores
.
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Salish K. Sall:lff
Chairmall ~/the Hoard,
Prt~Sirl('llt and
Chief ";,recuti,.'c Officer
Jeffery S. SJowgrrm'
Tr(,(l..~/lrcr
John R. Hindman
Chit;f Financial OJ]icp.r
M ichad J. Dean
Vice Presidf'Tlt -
Cunl mlLer
ARhulosh Gupla
Pre,~irl('1I1 (Inri /Jin.('tor, IMR-Irulia
Kasi V. Sridharan
Ext!l.'llt h'e Vit-t> President -
Special Pmjecl.~ & Strategic Plan/liTlg
Dilip Patel
Vicl~ Presidellt -
Gnwra I CCiliTlSe[: Secreta ry
J 'hi Iii) ShiIIPI'r1I>('
t/al/agin{: /J/n'clor. lila-u.K.
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INFOHM:\TION MANACEMENT m;;SoUHCES. II'\C, AND SUIlSIDIAHY
.;
Selected Financial Data
(TIl tlwusarulJ. eXt.'f!pt per share data)
Year Emled Decemher 31.
BalW1CC Sheet Data:
Working capital
Total assets
Long-term debt. net of current portion
Shareholders' equity
Shares outstl1nding at year-end
1996 1995 1994 1993 1992
$30,729 S 2.355 S (340) S (2,504) $ 1,065
4-8.953 8.666 7.099 6.453 2.927
1,184- 2.153 1.141
4-0,356 2.708 264 (559) 1.321
9't649 9.056 9,056 9.056 75
Operating .Data:
Revenues
, Gross profit ,
Income from operations
Net income
ProJomls net income (1)(3)
'Pro forms net income per tihare (1)(3)
Cash dividends (2)
Cash dividends per share (3)
27,948
11,704-
4,684
2.588
. 2,545
0.22
1,623
0.14
22,700
8.991
3,508
2,518
1,612
0.12
14,102
5,439
829
814
12,429
2,298
(3,246)
(3,673)
10,132
3,724
701
656
8
158
Weighted average,common and common',
. stock equivalent shares outstanding (3)'
11.720
13,703
(1) Pro fonna nel income and nel income per share give effeclto the Company's com'ersion from un S Corporation 10 a C Corporation for U.S. federal and state
income tlU. pU~t'S. As an S Corpomtion, the Company was not llubject to inconlt' ta;<cs hul instead passed its lax attrihutes through 10 its shllTeholdertl. As a
C Corpomtion. the Company will be subjed to income ta"(cs at corl'omte ineome lax rates. The pm fonna data above presents nI'l income and nel iOl'ome per
share as if the Company had been subjeet to C Corpomtion income tuxes for tlte ye1\l'1l end~d' Decemher 31. 1995 and 1996.
, (2) AU cash dividends "ere Subchapter S distributions. Dividends are nol unticil)all'..d in Ihe foret<cenble future.
(3) Pro fornla dala has not been calculaled for years prior to 1995.
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I\FOH't:\TJO\ '1\ "Ac;E\IDT m::-;f)[ I{II-::-;.I\I:. .\\11 :-;l'Il..;J(lI\H\
Management's Discussion and Analysis of
Financial Condition and Results of Operations
R(~KullK of ()pt'ratioJH;
The following tablt' surnlllarize~ for tht' years iudicated. cNtain ikms from Ihe COll\pany's slatl'Il11'nls of incoJ1l(, expressed
as 11 perc('ntagt~ of revenues alld pen't~lItagt' chanJ.'.1' in the dollar amount of slIeh items cOlllIHlrPllto Ihe prior Yl~ur.
Pereentage lncrease
Pt'rcentage of Hevenues (Decrease)
Year endt..d Dect~mber :-31. Year to Year
1996 1995 I 99.t. 1995~I 996 1994-19<JS
} 00.017(, 100.0Ck 100.0% 23.1lff G1.0lft-
58.117c GO.,lC7c 61.4Ck IB.5o/c 58.3%
41.9CJc 39.6lk ~m.6o/e :30.2% 65.3%
25.1lJr, 24.1 ge 32.79c 28'<)o/c '18.9%
16.Sc;( 15.5% :>.9% 33.50/c 323.2%
Revenues
Cost of revenues
Gross profit
Selling. general and administrative f'xpenses
Income from operations
.
Year Ended December a I. 1996 Compared to
Year Ended December 31, 1995
Revenues. Revenues ilH~rcased to .s27.9 million. r~presenting
a 2:3.1 % increase over prior year rt.'\'enue~ of $22. i million.
Revenue growth for the year r~f1eets management's decision in
1995 to aggressively pursue Year 2000 busirH:'::>s. Revenues
from Year 2000 service:-; increased to Si.5 million in 1996 frum
$557.000 in 1995. Of these revenues. S6.0 million were
realized in the last two quarters. Core transitional outsourc-
ing services (software development. application maintenance
and migration and re-engineering) increased to S 14.8 millioll
in 1996 from $13.3 million in 1995. The Company considers
this increase to be significunt becau"e it reflects the
Company's continuing effort to p:enerate growth throllgh
increased revenues from ooth Year 2000 and its core transi-
tional outsourcing services. Programming and consulting
services revenues declined to 84.1 million in 1996 from
57.4 million in 1995 due to tlw reallocatiOlI of personnel
and sales efforts to higher margin core transitional outsourc-
ing and Year 2000 projects. In 1996 and 1995. intemational
customers represented 6.5% and 6.47t of the Company's
revenues. respectively.
COSl of Rt'venues. Cost of revenues consist primarily of
consultant \~ages. payroll taxes and benefits. operation and
maintenance of the Company's olTshure development facility in
India. computer han:lware and software, relocation. training and
recl1.litment costs. Cost of revenues increased to 816.2 million
in 1996 compareu to $13.7 million in 1995 due to the increa~cs
, in business volume and wages payable to technical personnel.
Gross Profit. Gross profit increased to $11.7 million in
~ 996 from $9.0 million in 1995. As a percentage of revenue.
, gross profit increased to 41.9% from :~9.6%. This increast'
re~ecled higher pricing achieved for the Company's services
and u shift of pen;onnel resources to more prolitable core transi-
tional outsourcing and Year 2{x)() service offerings. The increase
was partially offset by wages paid to technical personnel.
,,;.
Selling, General uTld Admir~i:ilrative Expe1lSe,~. Selling. gen-
eral and administrative expenses increased 28.0% to $7.0
million in 1996 from $5.5 million in 1995. Selling. general
and administrative expenses consist primarily of salaries,
employee benefits, travel. promotion, telecommunications.
management. finance. administrative and occupancy costs.
Selling, general and administrutive costs were 25.1 % of revenues
ill 1996 a~ compared to 24.1 % of revenues in 1995. This
irlCr~ase reflected additional costs to establish a flew iuccntive
program for project personnel which commenced in the sccond
half of 1995 as well as additional general and administrative
expr.nses to expand the Company's infrastructure of admin-
istrative support personnel and equipment. In particular. the
satellite links were upgraded and the India facility's general
and administrative infrastmcture was expanded.
Income from Operations. Income from operations was $4.7
million in 1996 compared to S3.5 million in 1995.,representing
an increaSI~ of ~3,5o/(.
Othrr Income (Expense). The Company realized net other
income of $36.000 in 1996 compareclto $14.000 in 1995.
Other income in 1995 included a S428.000 net gain realized
from the sale by IMR-lndia of certain of its assets and real
property in Bombay and Trivandrum. This 1995 gain was par-
tially offset by 11 $] 10.000 loss in the Company's 39.5% equity
investment in IMR-U.K. During 1996, the Company realized
an $8:~,OOO gain on its equity investment in IMH-U.K. In
addition, the Company recognized approximately SI;~2.000 of
investment income from the investment of the net proceeds of
its initial puhlic offeri ng. lnte rest expem~c for 1996 ancI 1995
was S300.000 and 8:'49.000. respectively. However, the
Company repaid most of its lllng-tenn debt at the end of 1996.
MiTlorit) Imerest in !Yel /rU:01nl:. The minority interest ill net
income increa~ed slightly to S730,OOO in 1996 from 87 J 2.000
in 1995. This represents the equity investment in IMR-India\;
lIet income held by ~;llUreboldeffi of IMH-India other thun the
Company. TIle increase represcnl<; higher profi!.aLilit)' ill 1MB-India.
in 1996. However. this irlC'rea~t' \HL-- off:'f'tl,,\' all illcrc'H:,e intiit'
percf'ntage of IMH-lnJia ownecl by tilt' Cornpall)'.
Pnwisi{)llfur IncoTlll' T(l,tt'S. TIlt' pro\'i:;ielfl for inconw taxe~
incr('1I!'\ed from S29:':U)(){) in I ()()5 to S I A million ill 1 <)<)(J.
In No\'ernlwl' 1996. I ;\!f{ tt~rrrJinated itl', SuhdHlpter :-;
Corporatioll tax status and recogflizf~d a nonrecurring tax
eharge of S 1.1 million (Set' l\olt. l,~ to Con:--ol idated
Financial Statements). Prior to thi:; termination. the 19<};:)
provision for income taxes only reOeclt.d th()Sf~ taxe:, relakd
to IMR~India.
IMR has not recorded deferred income taxes applicable
to undistributed earnings of IMR-India. Those earnings are
considereu to be indefinitely reinvested and, acconlingly.
no provision for U. S. federal and statt' income tax has been
provided thereon.
:1'0 provide more meaningful information. the Company's
financial statements also reflect the pro forma effect as if the
Company was a C Corporation through 19% and 1995. The
pro forma provision for income taxes increused to S 1.4
million in 1996, or 30.6% of net income before provision
for income taxes and minority interest, from $1.2 million in
1995, or 34.0% of net income before provision for income
taxes and minority interest. The decrease in the pro forma
effective tax as a percentage of net income reOrets the larger
portion of the net income being contributed by IMR-India,
which enjoys a lower tax rate than IMR.
Yeur Ended December 31, 1995 Compnred to
Year Ended December 31, 1994-
Ret.'enues. Revenues were $22.7 million in 1995. represent-
ing a 61.0% in<:rease from revenues of 514.1 million in 1994.
This increase reflected increases in both the size amI the num.
bel' of client projects. In 1995, the Company realized u sig-
nificant increast' in revenues from software development,
application maintenance and migration and re-engineering pro-
jects. Revenues from the Company's five largest clients in
] 995 repres~nted 65.6% of 199,1) revenues, while revenues
from the Company's five largest clients in 1994 represented
49.0% of 1994 revenues. In particular. the Company benefited
from a large migration contruct that commenced in late 1994
and continued throughout 1995. as well as a large software
development project that started in mid-1995.
Cost of Revenues. Cost of wvenues were $13.7 million in
1995, representing a 58.3% increase over cost of revenues of
$8.7 million in 1994. Cost of revenues represented 60.4%
and 61.4% of revenues in 1995 and 1994, respectively. This
decrease as a percentage of revenues reflects theCompany's
. imple,mentation of tighter Gontrols over project pricing and
~largins as well as an increase in higher margin Ycar 2000
projects. This decrease would have been larger except for the
benefits of a number of higher margin contracts completed in
: the first quarter of 1994. In addition, in 1995 the Company
incurred lower expenses due to the temporary reduc:tion in
pcrsonllel costs and other expenses during the consolidation
I:'iFOI( \1:\'1'10\ ~I,\i\:\f:E~'I':~T HESI)l!Hn:~. 11"<':, Ai\1l SlJllSllllAHY
of the COll\pany'~ India offshul'f" ~oftware development center
frolTl I()('alion~ in Bombay und Tri\'undnulI to the pre~cnt
location ill Bang:alorl'.
Gru.~s Pro.lit. Grns;; profit wm; 59.0 million in I ()9S. rcpre-
~f'ntillg a G;).30/" illcreas~ ()\'t~r gro~s profit of S5.4 million ill
1994. As a percentuge of revenues, gross profil increased
frolll 38,6l7c in ] 9().ltu :W.6% in tht> same period for 1995
for the rea~ons stated above.
Sellin!!. rrl!fll'ral mul AdmiTlistratin' E,\penses. Selling.
general and adrnillistrativf' expellses were $5.4 million in
1995. representing: an J 8.9% in('rease OVN selling. general
anu administrati vc expenses of 54.6 million in 1994. Selling,
general and administrative expenses wcre 24.2% and 32.7%
of revenueg in 1995 and 1994. re~pectively. The decrease as
11 percentage of revenu('~ was a n~sult of the Company's ability
to achieve significantly higher revenues in 1995 without II
corresponding increase in managpment. finance, administra-
tive and occupancy costs, a large portion of which are fixed
in nature. The annual bonus payahle to Mr. San an (equal to
10% of the Company's net pre-tax profits from U.S. opera-
tions) increased to $255,000 ill 1995 from 834.000 in 1994.
lncome (Loss) from Operations. Incom~ from operations
was $3.5 million in 1995, representing a 323.2% increase over
income from operations of S829,OOO in 1994. As II percentage of
revenues, incoine from opcrations increased from 5.9% in
1994 to 15.4% in the same period for 1995 for the reasons
stated above.
Othl~r (Expense) Income. The Company realized other
income of $14,000 in 1995 as compared to $498.000 in
1994. Other income in 1995 included a 8428.000 net gain
realized upon the sale of real estate and assets by IMR-India,
offset by interest expense of $349,000 and the Company's
share of losses in IMH-U.K. of SI1O.000. Other income in
1994 reflected income of 51.0 million derived from the
Company's sale of a portion of its equity interest in IMR-India
to India Magnum Fund N.V. plus S71,000 realized upon the
sale by IMR-Inclill of cerlain assets and real property, partially
offset by interest expense of $473,000 and the Company's
share of a loss in IMR-U.K. of SI26.000. At the beginning of
] 994, the Company's interest in IMR-U.K. was 50.0%. The
Company phased down the operations in IMR-V.K. in early
1994 and recommenced operations after receiving a 50.0%
investment by The Link Group of Companies Limited in latc
1994. The Company's interest in IMR-U,K.'s loss decreased
from S 126.000 in 1994 to $] 10.000 in 1995, reflecting the
decrease in the Company's interest from 50.0% in 1994 to
39.5% in 1995.
Minority In/m!st ill Net (Ill{;Ome) Loss. In 1995, the minority
interest in net ineome WLlS 5712.000 as compared to $63,000
in 1994. This sustained increase reflects significantly increased
profits realized by 1MB-India in 1995, as well as the decrease
in thr. Compauy's f'quit)' interest. In ]995. the Company held
a :~4.2% c<1uity interest in IMR-India. while lhe Company
held u 693%' f~quit)' interest in 199,1.
.
"1\ I"' \~ ; \ ,t.',' \.\ .,.' ,\ J I "" ,.t' II' I' \' ,1'\ ,,: ;,t' \J~" ,(,,' r-- I'''' W{~l " f, ,'IY\'\
I:'iFOH\t.-\TIO\ \I:\\:\I;DIE\T HESOLHCES. 1;'1;[, A\() SllBSII>I:\HY
Prol';J;Ofl (IJt'Tle.fil) for [ncorTl/' 7'a.H'J. Th(, tax provision wu~
S2<H.OOO ill 1995 us cOlllpart'd to S,l51.00U in 1994. Durin~
!c)<).1. the Company paid S:~()5.00() of India wjihholdin~ taxt's
incurred in connectioll with the COlllpany\ sale of a portion
of its equity intNt'st in [~lH.-lndia to India ;\lagnum fund :\. V,
The 1993 tax provision includes taxes payahle on tlw gain
n~alized from the 1995 sale by (MIl.lndia of certain a~sels
and real property as well as an increase in taxahlp income
for domestic: operations of 1M R-India in 199.::;.
.
Liquidity and Capital Hesource8
At December 31. 1996. Ihe Company had S30.7 million of
working capital as compared to working capital of $2.3 mil-
lion at December 31. 1995. This increase primarily resulted
from the Company's receipt in 1996 of net proceeds of 840.7
million from its initial puhlic offering. At Decemher 31,
1996. the Company heid 829.7 million in cash and cash
equivalents ami marketable securities.
Net cash provided by (used in) operations in 1996. 1995
and 1994 was 85.2 mill ion. 81.0 million and (8747,000),
respectively. This increase in cash provided by operations
reflects primarily increases in profitability and improvements
in contmct management and collection of revenues.
Net ca-sh (used in) provided by investing activities in 1996.
1995 and ]994 was ($19.1 million), 8503,000 and 81.3 mil-
lion. respectively. In 1996, the Company acquired a majority
interest in IMH-lndia for 810.0 million. invested in mar-
ketable securities of $5.6 million and purchased property lind
equipment for $2.6 million, Future plans call for the continued
expansion of the Imlia facilities throughout 1997 of which over
$2.0 million has been expended in the first quaI1er of 1997.
Subsequent to the initial public offering, the Company
repaid its outstanding long-term debt of approx!mately
S900,ooo and approximately 50% of the final Subchapter S
distribution. (See Note 16 to the Consolidated Financial
Statements.) The remaining 50% was classified as notes
payable - shareholders at December 31.1996, and was
paid in full by the Company during March 1997.
The Company maintains a line of credit with Barnett Bank
which allows the Company to borrow up to 80% of the book
value of the Company's accounts receivable with interest at
30-day LIBOR plus 1.8% (7.4% as of December 31, 1996).
At December 31, 1996. there was no amount outstanding
and payable under this line of credit and approximately $4.0
million was available for horrowing. Provisions of this line of
credit and certain notes payable contain financial covenants,
including covenants which require the Company to maintain
ce11ain financial ratios. At December 31, 1996, the Company
was in compliance with thes~ covenants.
The Company maintains an export sales accounts receivable
discounting facility with Canara Bank, an Indian government
owned bunk. Principal payments on amounts borrowed are
due within 90 days of their respective borrowings. Interest
i~ currently payahle at I:U)%. At December 31, 1996,
".
~"
1
Oecl'mher :~ I. I C)<JS and Decemher :n. I c)<J4. approximatl'ly
SO. S6.;.=>.000 and S425,000. respecli\'dy. wen' du(' under
this facility. The maximum amount avuiluhle under this facility
at December:~ 1. 1996 was upproxillllllel}' $8:32.000. The
facility is eollaterulizl.'d hy IMH.-Indiu's export (lCl'ounts
r('('('ivuble and property and L'quipmenl.
Efred" of Inflation
The COlllpuny's most significant costs an~ tlH' salaries and
related benefits for its consultunts and other profcssional~.
Competition in the United States. the United Kingdom and
Indiu for IT professionals with the advanced technologicul
skills necessary to perform the services offered by the
Company have caused wages to increase at a rate greater
than till' general rate of inflation. As with other IT service
providers. tlte Company must adequately anticipate wage
increases, particularly on its fixed-price conlracts. Further,
India has in the past experiell(;(~d significant inflation.
Historically. the Company's wage costs ill India have been
significantly lower than its wage costs in the United States
and the United Kingdom for comparahly-skilled employees,
although wage costs in India are presently increasing at a
faster rate than in the United States and the United Kingdom.
There ean be no assurance that the Company will he able to
recover cost increases through incremic5 in the prices that it
charges for its service!?> in the United States and elsewhere.
Market for Registrant's
Common Equity and Related
Shareholder Matters
The Common Stock of the Company is traded all the
Nasdaq National Market (hNasdaq") under the symbol
hIMRS." The Common Stock commenced trading on Nasdaq
on November 8, 1996 in connection with the underwritten
initial public offering of shares of the Company's Common
Stock at an initial price to the public of SJ 4.00 per share
(the "Offering").
Set forth below are high and low sales prices for shares
of the Common Stock commencing November 8, 1996 and
ending December 31. 1996.
Fiscal Period
Novemher 8, 1996 through
December 31, 1996
High
Low
821.125
513.875
The number of shareholders ofrecord of the Common Stock
as of March 20, 1997, was 30 bused on transfer agent reports.
The Company does not intend to declare or pay cash dividends
in the foreseeable future, Management anticipates that ull
cumings and other cash resources of the Company, if any, will
be retained hy the Compuny for investment in its business.
I:'\FOH\tATIOl'\ MAi\Al;EMENT IU:SOL'HCES. 1i\C. 1\1'11) SUBSIDIAHY
Consolidated Balance Sheets
December 31.
ASSETS
Current assets:
Cash and cash equivalents
Marketable securities
Accounts receivable
Unbilled work in process
Accounts receivable. affiliates
Notes receivable, affiliate
Other current assets
'Total current assets
Property and equipment, net of accumulated depreciation
Capitalized software costs, net of accumulated amortization
Note receivable, affiliate
Deposits and other assets
Goodwill. net of accumulated amOJ1ization
Total assets
1996
$24,081,74,3
5,643,535
5,669,626
1,073,965
64,6,220
533,750
890,341
38,539,180
3,702,918
719,973
158,750
437,716
5,394,569
$48,953, III
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
, Revolving credit loans
Accounts payable .
AC,croed expenses
Income tax payable _
Deferred income taxes
Current portion of long-tern) debt
Current maturities of capital lease obligations
Current portion of notes payable - shareholders
Deferred revenue
Total current liabilities
Long-term debt
Notes payable - shareholder
Capital lease obligations
Deferred income taxes
Other liabilities
Total liabilities
Minority interest
Commitments and contingencies (Notes 13, 15 lInd 22)
Shareholders' equity:
Preferred stock, $.10 par value, 10.000,000 shares authorized,
no shares issued and outstanding
Common'stock. $.10 par value per share, 40.000,000 shares authorized.
.9.649,090 and 9,055,960 issued nnd olltstanding
Additional paid-in capital
Retained earnings .
, Cumulative foreign currency translation adjustment
$
1,364,043
2,878,049
476,750
257,832
55,444
813,754.
1,964,576
7,810,448
634,396
84,879
8,529,723
67,107
964.,909
38,841,667
669,034
(119,329)
40,356,281
Less treasury stock at cost, 5,000 shares at Decemher 31. 1995
Total shareholders' equity
Total liabilities and shareholders' equity
40,356,281
$48,953,111
.
The accomp&n}'jng nl!tl~M are an intcgrnl part or thelle consolidatecl financial statements,
1995
S 1,620.968
2,905,920
708.094
468.940
5,70:~.922
1,699.084
548,691
263,382
451.370
88,666,449
$ 655,466
490,317
1,484,443 '
326,640
132,642
242.457
17,270
3,349,235
1.077,077
107,054
54,514
46,684
82,507
4,717,071
1,241,266
905,600
1,167.244
705,956
(61.938)
2,716,862
(8,750)
2.708,112
58.666,449
.
lilif'OJ{MATIO~ ~:\\,.\GEME!'tT nf-~"i()LJIlCES.II'iC, :\:'\fJ StIBSIlJI:\Il\'
Consolidated Statements of Income
Year Ended December 31.
Revenues
Cost of r{~\'enUes
Gross profit
Selling, general and administrative expenses
Income from operatjon!;
Other income (expense):
Income (loss) in equjty investment
Interest expense
Other income
Total other income
Income before provision for income taxes and minority interest
Provision for income taxes
Income before minority interest
Minority interest in net iIlc~me
Net income
Pro Conna adjustment (see ~ote 2):
Historicall.let income' '
Pro fonna adjustment to income tax expense
Pro forma net income
. Pro forma net income per share
-
Weighted average common Ilnd common stock.
:' equivalent shares outstanding
1996 1995 1994
$27.,948,076 $22.700.170 S 14.10 1,653
16.,24:~. 746 l:l. 708. 782 8,662,244
Ii.704,330 8.991.388 5.439,409
7,020,679 5,482.982 4.610,481
4,683,651 3.508,406 828.928
83,131 (110.038) ( 125,842)
(300,526) (348.652) (472,606)
253,048 472.609 1.097.015
35.653 13,919 498,567
4,719,304 3,522,325 1.327,495'
1.,401,244 292.747 450.504
3.,318,060 3,229,578 ' 876,991
(730,373) (711.993) (62,587)
$ 2.587,687 .$ 2.517,585 S 814,404 ,
$ 2,587,687 S 2.517.585
(42,756) (905,114)
$ 2,544,931 $ 1,612.471
$0.22 $0.12
11,720,451 13.702.994
The accompanying notes are an integral part of thl'~(- consolidaled financial statements.
Consolidated Statements of Changes i n Shareholders' Equity
Cumulative
F ort'ign Retained
Additional Currency Earnings
'. Common Stock Paid-In Translation (Accumulated Treasury
Shares Amount Capital Adjustment Deficit) Stock Total
Balance. January 1. 1994 9,055,960 . $ 905.596 $ 1,167,248 $ t5.642) $ (2.626,033)$ S (558.831 )
Translation adjustments B.723 8,723
Net income 814.404 814,404
Balance, Decemher 31, 1994 9,055,960 905,596 1,167.248 3.081 (1.811,629) 264.296
Repurchase of common stock (8,750) (8,750)
Translation adjustments (65.019) (65,019)
Net income 2,517,585 2.517,585 .
. Balance.-Oecember 31,1995 9.055.960 905.596 1,167.248 (61,938) 705,956 (8.750) 2,708,112
Issuance of common stock
.. for options exercised 136,170 13,617 13,617
.,'. Repurchase of common stock - (1,489,272) , (1,489,272)
Retirement of treasury stock ' (2,755,540) , (275,554, (1.,167,24-8) (55,220) 1,498,022
,', Dividends paid (1,623,303 ) (1,623,303)
, ' TenninatJon of 5 Corporation ,
. , ,', tax status" - 946,086 (946.,086)
,,' Common stock issued in
.. " . connection with initial
public offering, . ~,2]2,S09. ' 321,250 . 40,395,794 - . 4'(), 717,044
'~,:" ,,' , -Acquisitiori, of majority
shureholder'll interest
, .. in subsidiary (2,500~13) (2~5()(),213)
,,. ," 'Translation adjustments (57,391) (57,391)
, , :.Netincome 2,587l,s7 2,587,687 .
- . BalanCe, Dec.-ember 31, 1996 9,649.,090 $964,909 $38,841,667 $(119,329) $ 669.034 S S40,356,281
-- ""'- ....- --
. ,
The lIcc~lpaliyillg notes are an inte~al part of thesl: consolidated firlllllciul statements.
I~FOlUt:\Tlll:\ ~t:\:-.i:\l;I,:m::'\T HE~()UHCES. I:'\C. AND SUBSIDIAHY
Consolidated Statements of Cash Flows
Year End(~d Dcc:crnber 31,
Cash nows from operating activities:
Nel income
Adjustment to reconcile net income 10 cash
provided hy (used in) operating acti\'itie8:
Depreciation and amortization
Gain on sale of property and equipment
Gain on sale of subsidiun'
Unrealized exchange los;es
(Guin) loss in equily inve8tmenl
Minority interest in net income
Changes in operating assets and liabilities:
Accounts receivable und unbilled work-in-process
Accounts receivable - affiliate
Other current assets
Dep~sits and other as~ets
Accounts payable
· . Accrued expenses
. Income tax payable
Defenec1 income taxes
Deferred revenue
Other liabilitieS ' ,
'. Total adjustments
. Net c,ash provided by (used in) operating activities
C~h flow~ from investing activities:
Acquisition of interest in consolidated subsidiary
Investment in marketable securities
Proceeds from sale of investment in subsidiary
Proceeds from sale of property and equipment .
Additions to capitalized software costs .
Additions to property and equipment
Increase in equity investment and loans to affiliate
Net cash provided by (usea in ) investing activities
Cash flows from financing activities:
Net (repayments) borrowings fr~ml revolving credit line
Proceeds from long-tenn debt"
Payments on long-tenn debt
Proceeds from notes payable - shareholder
. Payments on notes payable - shareholder,
Proceeds from capital lease obligation
Paymenison capital least' obligations'
Proceeds from issuance of common stock
Payment of costs in connection with issuance of common stock
Purchase of treasury stock at cost .
Payment o{,dividends
Net cash provided by (used in) financing activities
Effect of e,xchange rate charges .'
Net increas~ in.cash and cash equivalents., .
Cash and cash equivalents at beginningof year
Cash and cash equivalents at end of year'
. Supplemental disclosurt: of cash flow infonnalion:
. ;', Ca.6h paid during the year for interest
---- ~ -
, Cash paid during the year for income ta.xes
.. -~
Supplemental schedule of noncash investing and financing activities:
Note payable - shareholders issued in lieu of di\'idend
Capitall~e obligations incurred for propert)' and equipment
The uccornpanying notes are ~ integral part ~f these consolidated financ'ial statement.;,
1996
$ 2,587,687
777,751
8,790
(83,131)
730,373
(3,129,577)
(646,220)
(573,324)
(91,203)
873,726
1,393,606
4,76,750
865,407
1,947,306
14,979
2,565,233
5,152,920
(9,967,942)
(5,511,475)
(302,0] 4)
(2,604,738)
(692,500)
(19,078,669)
(655,466)
900,000
(1,717,150)
(349,511)
(131,712)
41,840,367
(1,109,706)
(1,489,272)
(822,156)
36,405,394
(18,870)
22,460,775
1,620,968 '
$ 24,081,743
$ 300,526
$ 132,4,21
$ 801,147
$
1995 1994
S 2.5] 7,585 $ 814,404
491.085 545,696
(520,672) (76,473)
(1.013,503)
62,862 4,938
110,038 125,842
711,993 62,587
(1,638,061 ) (568,910)
(69,167) (160,708)
(14,042) (65,528)
(716,594) 604,019
282,439 (848,277)
39,395 64,849 '
(243.544) (281.204)
14,821 45.629
(1,489,44 7) (1,561,04.1) ,
1,028.138 (746.639)
I\FOH\I:\TIO\ ~1:\\ACt:\H:\T IlL<;OI'I{CE..;. I\C, :\:\1> ~UI";II)L\HY
Notes to Consolidated Financial
1. Nature of Business:
Infol1nalio!1 :\1ana~f'ml'J\1 H"~Olln'f'~. Irlt'. and sllh~idiary (I hf~
Company) providf's transitional ~oftwan' out;;ollr('ill~ :-;olutiolls
to tilt' infonnalion tl'chnolu~y d,'par1nh>f1ts of largl' IJlI~irlt:':-;-;f>:-;.
Th,~ Company's sf'r\'ic:~ an~ pro\'idl'd to u varid)' of induslri,':-;
and customers located primarily in till' r nitt.d ~talt.~,
.
2. Summary of Significant Accounting Policies:
Principles oj COT/solid(ltiofl - '1111~ (,oll~(Jlidatf'd financial
statements include the accounts of Information ~tana~emenl
Resourc:es. Inc. (IMR) and its lIlajority-owned or effectively con-
troBed foreign subsidiary, Infornwtioll Mana~ement Resources
(India) Limited, an Indian limited liahility C"ompany (I:\lR-[ndia),
The Company's investment in Information Management
Resources (U,K.) Limited (IMH.-U.K.) is accounted for on the
equity method. All significant inter-company balances and
tmnsactions have been eliminated.
Effective September 1993. IMR aequired a 69.3ck interest
in IMR-India. IMR-India was incorporated in India in June
.1990. Throughout 1994, IMR had a controlling financial
interest ill IMR-India. During December 1994, IMR sold a
portion of its ownership in IMR-India thereby reducing its
investment from 69.3% to 34.2%. The sale resulted in net
cash proceeds of approximately 81,883,000 and resulted in a
net gain of approximately 81,014,000, which is included in
other income for the year ended December 31. 1994. During
1996, Il\1R purchased an additional 45.6% (260,000 shares)
of IMR-Indiu's outstanding eommon shares for approximately
$6.9 million in cash in two separate transactions. These
acquisitions are accounted for as purchases pursuant to the
provisions of APB Opinion No. 16, "Businc:,s Combinations"
and resulting goodwill is being amortized over a lV-year period.
In addition, during November 1996, IMR acquired an additional
18.4lJc (104,800 shares) of IMR-India from the Company's
majority shareholder for approximately 53.l million in cash.
The acquisition from nIR's majority shareholder is accounted
for as a reduction of equity (see Note 21).
IMR accounts for its investment in Il\1R-India utilizing the
consolidation methoJ for all periods presented, because effective
control had lx.>cn maintained through the continued direct finan-
cial interest in IMR-India held by IMR's majority shareholder.
IMR-India's financial statemenb are prepared in confonnity
with United States generally accepted accounting principles.
As a result of the acquisitions noted above, IMR owns
98.2% of the outstanding common shares of IMR-fndia.
IMR also owns 39.5% of IMR-U.K. Prior to November 1994.
IMR had effective control of fMH.-U.K. through IMR's majority
shareholder's financial interest in IMR~U.K. Management
believes that the effect of not consolidating IMR-U.K. in the
Company's financial statements for periods prior to November
1994 is not material. During February 1997, the Company
acquired the remaining 60.5% of IMR-U.K. (see Note 22).
Cash and Cash Equivalents - The Company considers all
highly liquid investments with original maturity dates of three
months or less to be cash equivalents. The Company maintains
its investments at high quality financial institutions.
Marketable Securilies - The Company's short-tenn investments
are classified as available-for-sale as defined by Statement
of Financial Accounting Standards (SFAS) No. 115,
"Accounting for Certain Investments in Debt and Equity
Securities." These investments consist of United States and
municipal government securities at December :31. 1996 and
are statt.d at estimated fair value ha~ed upon market quotes.
Statements
Rt'I'{'1/1lf' R('('UPlitiof/ - Fixpd-pri('p contrart revelllu' is
recognized using tbe perl'entagt' of compl'-lion method of
ae\'oulltin~, under which till' salt's value of perfonnan('c,
including carning~ therpon. is ft'cognized on tlH' basis of
th(' p{'reentugt' that t>ach ('ontnwt's ('ost to oatt. hears to the
total estimated cost. Any anticipated losses upon contract
completion would be accrued currently.
LJ nbilll>d work -i n-progress represents re\'enues Oll con-
tracts to be hi lled in sub~('quent periods as per in aecor-
danee with th~ terms of the contract. Deferred revenue
repre!"cnts amounts billed in I'XCPSS of revenue earned.
Service revenue from time-and-lIIuterials sen,ices is recog-
nized as the services are provided. Software product sales are
recorded as the products are shippen to the customers.
Goodwill - Goodwill originated from the acquisition of
JMR-India and is being amortized utilizing the straight-line
basis over a 10-year period, The Company periodically
reviews the \'alue of its goodwill to detenlline if an impainnent
has occurred. The Company mellsures the potential impair-
ment of recorded goodwill by tll{' undiseounled value of
expected future operating ('ash now ill relation to the assets
to which this goodwill applies.
Research and Del1l'lopmPflt Costs - Research and develop-
ment costs represent costs incurred for new product develop-
ment and are included in selling. general and administrative
expenses in the financial statenlents us incurred.
Software Product 11lrcntory - Software products represent
third-partr purchases of software held for resale and /ln~ staled
al the lower of ~ost or market; cost being determined on the
first-in. fi~t~out (FIFO) method. Software products are included
in other current assets.
Property and Equipmml - Property and equipment. including
property under capi tal lease agreements, are stated at eost
less accumulated depreciation. Depreciation is computed
using the straight-line method and is charged to income
over the estimated usefullivcs of the respective assets.
Maintenance and repair::; are expensed 8S incurred, while
renewals and betterments are capitalized.
Fully depreciated assets are retained in property lJlld depre-
ciation accounts until they are removed from sen'ice. Cost and
accumulated depreciation on assets retired or disposed of are
removed from the accounts and any gain and losses resulting
therefrom are credited or charged to operations.
Capitali=ed Software Costs - Capitalized software costs
are recorded at cost less accumulated amortization.
Production costs for computer software that is to be utilizcd as
an integral part of a prouuct or process is capitalized when both
(a) technological feasibility is estahlished for the software and
(b) all research and development activities for the other
components of the product or process have been completed.
Amortization is charged to income based upon a revcnue
formula over the shorter of the remaining estimated economic
life of the product or estimated lifetime revenue of the product.
Income Taxe$ - Prior to November 1996, the Company
elected to be taxed as an S Corporation under the provisions
of the IntemaI Revenue Code whereby taxable income is
generally reported by the shareholden5 on their individual
income tax returns. In connection with the initial public offering
(see Note 16). the S Corporation election was tenninated on
November 11. 1996 and subsequently thc Company
"
became suhj('(.t to U.S. federal and stute income taxes as a
C Corporation. The Company utilizes the as!,f.t and liahility
method of uccounting for income taxe~. limlcr this method.
deferred income taxe~ are recorded to renect the tax conse-
quences on futurt' years differences hetw('cn the tax basis of
asset!; ami liabilities and their financial reportin~ umounts at
each year-end basf.d on enacted tax laws and statutory tax
rates applicable to tht" periods in which the differen~es are
expected to affect taxable income. :\ valuation allowance
is provided against tht' future henefit of deferred tax assets
if it is determined that it is more likely than not that the
future tax benefitg ussociated with the defen'ed tax asset
will not be realized (see Note ]4).
Pro Forma Netlllcome - To properly reflect the
Company's pro forma net income, the provision for income
taxes has been adjusted as if the C impany had been a tax-
able entity subject to federal and state income taxes at the
. marginal rates applicable to such periods. In addition, the pro
fonna ,adjustment to income tax expense for the year ended
December 31, 1996 excludes the 81,075,000 one-time
income tax expense resulting from the tennination of the
5 Corporatiori status. ,
,Foreign Currency Translation - The financial statements
. of IMR-India utilize a functional currency which is other than
the U.S. dollar and are translated into U.S. dollars in accor-
dance with SFAS No. 52, "Foreign Currency Translation."
Assets and liabilities of IMR-India are translated at exchange
rates in effect on the reporting date. Income and expense
items are t~anslated at the average exchange rate for the year.
The resulting tr~nslation ,adjustments are not included in
determining net income but are accumulated as a separate
component of shareholders' equity. Foreign currency trans-
action gains and losses are reported in net income but were
not material to any period presented.
Computation of Net Income per Share - Net income, per
common and common equivalent shares for the years ended
December 31, 1996 and 1995, have been computed using
the weighted average number of common and common equiv-
alent shares outstanding using the treasury stock method, as .
adjusted for the common stock split described in Note 16, is
summarized as follows: '
1996 1995
\Veighted average common
stock outstanding 6,870,188 9,050,960
Weighted average common
stock equivalents 4,,850,263 4,652,034
-
Shares llsed in net income
, share calculation 11,720,451 ' 13,702,994
, Use of Estimates - The preparation of financial statements
in confonnity with gene'rally accepted accounting principles
, requires management to make estimates and assumptions '
,that affect the reported amounts of assets and liabilities and
disclosure, of contingent assets and liabilities at the date.of
the financial statements and the reported amounts of revenues "
'and expenses during t.he reporting period. Actual results could
'differ from those'estinia~es.
, .. New Accounting Pronouncements - In February ] 997, the
,Financial Accounting Standards Board issued SFAS No. 128,
"Eamings pel' Share.;" which is effective for periods ending
after December 15, 1997. This statement establishes standards
'\
I:\iFOH\tATI()~ M:\!\;AGDtE!'\T HESllLHCES. I~C. ,\:\1) SUBSII>!AHY
for computing and pr~sentilJg ('arnings per shure dutu.
~lanugement is cUlTenlly assessing the impact of SF:\S ~(). 128
on the Company's presentation of earnings per share dutu ill
future period:-;,
Rt!ch~iju:ali()fl - Certain prior year fimUlcial statement balances
hare been reclassified to confonn to the 1996 presentations.
3. Marketable Securities:
The Company currently imests in only high quality, short-
term investments which it classifies as arailable-for-salc.
As such. there were no significant differences between amor.
tized cost and estimated fair value at Decemher 31, 1996.
Additionally. because investments are short-term and are
generally allowed to mature. realized gains and losses hare
been minimal through December 31. 1996.
The following table presents the estimated fail' \'alue of
marketable securities by category:
December 31.
Munic~pal debt securities
Interest income receivable
1996
$5,511,4.75
132,060
$5,643,535
-
The maturity of the above marketable securities at December 31,
1996, is bctween one and three years.
4. Accounts Receivable:
The major classifications of aecount" receivable al December 31,
1996 and 1995 were as follows:
Accounts receivable, trade
Unbilled accounts receivable-
time-and-materials contracts
1996
$4,997,144
1995
.$2,320.252
585.668
$2.905.920
672,482
$5,669,626
5. Cost and Estimated Earnings on Completed and
Uncompleted Contracts:
1996 1995
Costs incurred on completed
and uncompleted contracts $
Estimated earnings
Less billings to date
6,692,4.~3
3,380,593
10,073,046
(10,963,657)
$ (890,611)
$ 4,369,463
1.443,266
5.812,729
(5,121,905)
$ 690,824
The following is included in the accompanying balance sheets: .
1996
1995
Unbilled work in process -
fixed-price contracts
Deferred revenue -
fixed-price contracts
$ 1,073,965
$708.094
(1,964,576)
$ (890,611)
(17,270)
$690.824
."""
r
I\HIH\I,\TIC 1\ '1,\'\,\I:I-:\1E\T HL";()l'IlCL~.I'\L, :\\P SI,II~IJ)Ir\HY
6, Other Current Assets:
()tht>r current llSS('t:-l al llen'mlll'r:~ I. Itjl)() I1IllI 1')1)5
I'on<(i:;kcl of tlw following:
19<)6
E/llpl()yt~(. advan('t>s
Software product im'(~lItory
Prepaid cXIJ(,'nst'~
Other n~et'i\'llhlt'
Ar/\'lInees to affi liutes
Deferred irworne taxes
S 7:J,;;m
.&'0,9<)2
701,027
52,9U7
2],787
$890,3t"1
1995
S }.1 J.().l'.f
fl-LO'}.l
23,UJ57
8. q45
S46B.940
7, Property and Equipment:
The major classifications of propcl1y /lnd equipment at
De{~ember 31, 1996 and 1995 were as follows:
Estimated
Useful Life
(Years)
1996
1995
10 - 40 $ 348,118 $ 159,164
5- 6 2,175,260 1,104.225
5-10 1,497,076 615.163
5-12 954,645 555.418
5 485,603 503,171
4,692 1,276
5,465.394 2,938.417
(1,762,476) (1,239,333)
$ 3.702,918 S 1,699J)84
- ...
Building and
improvements
Computer equipment
Computer software
Office furniture
and equipment
Equipment untler
capital leases
Construction in progress
Less accumulated
depreciation and
amortization
The equipment under capital lease is pledged 8S collateral
for the related lease obligations.
Depreciation anti amortization expense related 'to property
and equipment was approximately $547,000. S425,000 and
$426.000 for the years elided December 31, 1996, 1995 and
1994, respectively, Accumulated amortization on equipment
under capital leases was approximately $403.000 and
$313.000 at December 31, 1996 and 1995, respectively.'
8. Capitalized Software Costs:
Capitalized software costs at December 31.1996 and 1995
were as follows:
.
1996
$ 8..~7,705
(137,727)
$ 719,978
Capitalized software costs
Accumulated amortization
1995
$555,691
(7,000)
$548,691
Amortization expense related to capitalized software costs
was appruximatel}' $131,000 in 1996 and $7.000 in 1995.
No adjustments were made during 1996, 1995 or 1994 to
write down capitalized software costs to net realizable value.
K
9. GDodwill:
(;ooI1will ilt I )I'ct'rnlll'r :31. II)<)() !lnd I Ill);) was a~ followH:
1996 1995
Goodwill
Accu mulat ed LIllIort izat ion
S5,(.:n .559
(236.990)
S5,:19i.,.5()9
S 5BB.74S
(1:~7.:n5)
S 451.:nO
-
Arnort izatiull expel\se n>lut(.d to goodwill WIlS approximately
S I no.non. g(IO.OOO and S 120.000 for the years ended
Decemlwr 31, 199(). 19CJ.=) unu 1994. respectively.
10. Accrued Expenses:
Accrueu expenses at Decemher :11, 1996 and 1995 consisted
of the following:
Accrued payroll and incentivcf'. $
Accrued payroll taxes
Employee Stock Purchase Plan
Accrued vacations
Initial public offering costs
Software costs
Due to affiliate
Other
1996
882,664,
423,056
393,665
2:W.64-O
125,000
24.':>.000
1995
S 556,515
:368,974
306,433
574,024
$2,878,049
27.027
225.494
$1,484.443
11. Revolving Credit loans:
IMR-India maintains an export sales accounts receivable
discounting facility. Up to February 1996, loans under this
facility could be denominated in Indian rupees or U.S. dollars.
Thereafter, the loans are denominated in Indian rupees.
Principal payments onnrnoun~ borrowed are due ""ithin 90 clays
of their respective horrowings. Interest is payable at a rote set by
the Reserve Bank of India (currently 1:~.%). At December 31,
1996 and 1995. SO and approximately $655,000. respectively,
was due under this facility. The maximum amount available
under this facility at December 31. 1996 was approximately
$8:~2,OOO. The facility is collateralized by IMR-India's total
export accounts receivable, propel1y and equipment, and is
guaranteed by the Company's majority shareholder.
Provisions of the above credit agreement contuin certain
financial covenants, the most restricti\'e of which are the
maintenance 'of certain financial ratios.
12. Notes Payable - Shareholder:
Notes,payable- shareholder at December 31, 1996 and
1995 are summarized as follows:
1996
1995
8% unseeured notes payable,
due on demand $ 801,147
8% unsecured notes payable
with principal and interest
payable January 1996 '
through January '1998
Accrued interest on above notes 12,607
Total notes payable -
shareholder 813.754
Less: Advances to shareholder
Current portion of notes
payable - shareholder (813,754)
Notes payable, - shareholder.
net of current portion S
s
~~6] ,777
17.604
379.381
(29,870) ,
(242.457)
$ 107,054
Interest eXpt'nse on notes payahle - shareholder for the
Yt~ars ended Dt'cember 31, 19(Jo, 1995 and 1 f)9,~ was
approximately S 19.000, SlB,OOO and $21.000, respectively.
13. Long-Term Debt:
Long-tenll rlebt at Decemher 31. 1996 and 199.S if' summarized
as follows:
1996
1995
Term note payable with interest
payahle monthly at the financial
institution's base rate plus 1.25%
per annum, principal payable in
monthly installments of $16,250
commencing August 1996,
collateralized by the Company's
accounts receivable and equipment,
assignment of certain assets owned
'by the majority shareholder '
and guamnteedby the Company's
majority shareholder
7% per annum uncollateralized
convertible note payable to a
minority shareholder of IMR-India,
interest payable semiannually,
principal payable in sem,iannual
installmenl<; of 8131,640.{:,\
commencin'g September 1990'''
(under circumstances as defined
in the agreement)
$- $ 877,157
526,560
1.403,7] 7
326,640
$ - -SI,077,077
Less current portion,
-
A provision of the 7% uncollateralized convertible note'
payable required IMR-India common stock to achieve a cer-
tain value, as defined in the agreement, by June 30, 1996. In
the event such shares of common slock did not achieve this
value, the note would be repayable, or the lendPI' had the
. option to convert the outstanding loan balance into 10,000
shares of IMR-India common stock by September 30, 1996.
In June 1996, the value of IMR-lndia shares of common stock
was achieved under an agreement for the purchase of the
stock of the lender/minority shareholder. Upon completion of
the purchase during August 1996, IMR-India's obligation to
repay the note and the lender's option to convert this outstand-
irig loan balance into 70,000 shares of IMR-India common
stock were canceled. and this note was converted into
additional paid-in capital of IMR-lndia.
In August '199,6, IMR-Illdia obtained approval of a U.S.
dollar denominated tenn loan of $1,300,000 from 1I financial
. institution to finance the expansion of their facility in
Bangalore. India. The'loall will be repayable in eight equal
semiannual installments of $162,500 commencing September
1997. In t'ereston the loan is payable semiannually at the rate
, of LlBOR plus 3% per annum. The)oan is collateralized.
by a first lien on IMR-India's property and equipment and,
a guarantee by the C~mpany's majority shareholder. At
December 31, 1996, no amount had been drawn on this loan.
IMRmaintains a line of credit which was refinanced dur-
ing May 1996 to a balance equal to 80% of the outstanding
accounts receivable balance (as defined) of IMR at a rate
of LIBOR plus 1.8% (7.4% at December 31,1996). At
I:\F()Il\L\TIO~ 'l:\~.,\(;E"tE~T HE~()UHU:~. Ii'll:, :\~n ~1!BSIIJIAHY
Dt'ct'!lIbt'r :H, 11)96. no alllounl was outstandin~ 011 tlw line
of credit. TI\t' lint' of ('J'l'clit i~ \'nllutt'ralizt.c1 hy tilt' Company'::,-
aceOUllt~ r("(,t'i\'able. propt~rly alld ('quipl1lelll and ill\'t.'stn\(,lIt
in suhsidiari('s.
Provisions of tilt' lim' of ('I't~dil lIUrl l't'rlaill notes Pllyabll'
contain certain financiall'OVt'1I1Hlls. the l1Iost restricti\'l~ of
which is the maintenalH'f' of certain finllllcial ratio!'.. At
December 31. 1996, tilt' Company was ill compliance
with these covenants.
SFAS 1\0, 107, "Diselot<ure Ahout Fair Value of
Financiallnstrtlments," rcquirt.s that the Company dis-
close estimated fair values for its finUllCial instruments. Fair
value is defined as the price at which a financial instrumenl
could be liquidated in an orderly !lianneI' over a reasollublc
time period under present market conditions. IMR.'s adjustable
rate loans reprice frequently at current market rates. The rates
of the Company's fixed obligations (abo l"Ct' Note 12) approxi-
mate those rates of the adjustable loans. Therefore, the fair
value of lhese loans has been estimated to he approximately
equal 10 their carrying value.
The fair value of IMR's time deposits and ShOli-ternl borrow-
ings are considered to approximale their carryin~ amounts
because the interest rates on these instruments are regulated
by the Reserve Bank of India. the Indian central bank, and
are varied periodically to reOect market conditions, The
fair value of 1MB-India's uncoIlaleralizcd convertible note
payable at December 31. 1995 cannot be practieably deter-
mined due to certain unique features including a clause
(subsequently invoked) that provided for its cancellation.
. ~..
14. Income Taxes:
The provision for income ta..'{es is as follows:
1996
,1995
1994
.
Current:
Federal
State and local
Foreign
Total current
provision for
income taxes
Deferred:
Federal
State and local
Foreign
Total deferred
provision for
income taxes .
$ 412,508 S S
66,000
67,656 250,598 :mS,699
546,164 250,598 :mS,699
735,000
I ] 8,000
2,080 42,149 64,805
855,080 42.149 64,805
Total provision for
income taxes Sl,40I,244 5292,747 $450,504
Upon tenninatioll of the S Corporation election, as described
in Note 2, current and deferred income taxes reflecting the
tax effects of temporary differences between the Company's
financial statement and the tax bases of certain assets and
liabilities became liabilities of the Company. Accordingly,
the above provision for income taxes includes a 81.075,000
nonrecuning expense resulting from the termination of the S
Corporation election. In accordance with applicable sections
of the I"temal Hevenue Code (IRC), the Company will defer
the payment of 75% of the nonrecurring charge over Ihe next
three years.
-"'"
r
L"FOIUIATIO\ \1.\\ \1;r:\IE\T IU:SOt:HU:S. I:\C. :\!\D ~l;BSIf)I:\H\
Tht, cOnJl'onellb of 1111:' m'l ddem'd lux as~t't (Iiahilily)
arc us foll()w~:
199()
1995
Deferred tax as~ets:
:\cerut'd expenses
Deferred tax liabilities:
Propel1y and equipment
Cash to aecrual conversion
Total deferred tax liabilities
8 10,918
S H.9-1.)
(96,896 )
(806,250)
(903.146)
$(892,228)
(46.68-l)
(.l6.68-l )
8(37.739)
Balance sheet classification of net deferred tax 1.I5Se-t
(liability) is summarized 85 follow&:
1996
1995
S 8,945
Deferred tax asset - current
Deferred tax liability - current
Deferred tax liability -
noncurrent
$
(257,832)
(634,396)
$(892,228)
(46,684)
$(37.739)
-
In addition, the Company has a deferred tax asset of
5640,000 related to IMR-lnclia's net operating loss carryfor-
ward for United States income tax purposes for that portion
of income earned onsite in the United States. These net oper-
ating losses expire throu~h 2008. The Company has recorded
a valuation allowmlce with regard to the future tax benefits
related 10 these net operating losses. due to the uncertainty
of their ultimate realization.
U ncler the Indian Income Tax Act of 1961 (the h Act "). a
subi'tantial portion of IMH-India'g income is exempt from
Indian Income Tax as profits attributable to export opera-
tions or a tax holiday expiring in 1998. tinder the Act.
there are certain alternative minimum tax provisions which
impose tax on net profits at a rale of approximately 13%.
Management has received an opinion of legal counsel that
these provisions are not currently applicable due to the tax
holiday. Accordingly, the effective tax rate imposed on IMR-
India's income is substantially less than the current statutory
rate of 43%.
IMR has not recorded deferred income taxes applicable
to undistributed earnings of IMR-India. Those earnings are
considered to be indefinitely reinvested and. accordingly. no
provision for United State:.; federal and state income tax has
been provided thereon. The unremitted earnings, net of foreign
tax credits, are immaterial.
.
~
The f(Jllowin~ lahlt' l.I('countR for lilt' diffl'l't'tl/'t~S III.twt'(!n
th,' u('lualtax provisiun and the amounls obtaill<'d b~' llPply-
illg tilt' statutory U.S. f{'cleml income tax rah' of :Hfk to tilt'
incol1w (loss) befort, i !1('Ollle laxes and rn i lIori t)' i I1t f'rt'SI.
1996 1(/% 11}f),1
Statulor. lax pfm'islOIl $1.ltOl.O()() S I. 1 CJH.UOO S ,I,) I.O()()
~talt" taxes. ,wt of ff.,It'rallJl'Ilt>fi( :H.OOO
L.S, S Corporation Ilot "uhj,'rt 10
1,.deraJ ill/'1'Oll' taxI:',. 1989.000) (779.000) (4,1<).000)
FOII.i!:n \\'ilhholdilll! tax on gain
inl'Uffed b~' S Corporation 365.000
Difft'rt'lll't' Ill't\\l't'n f,'deral and
for..ign ta'X futes on permunelltly
win\'t'~led inrllJ/1t' of ff)!'t.il!t1
~LJIo~itliary (365,000) (1 i 5,1)()()) (13.000)
(Income) loss in foreign
equity investment (22.000) 37,000 4:3.000
Temlinatioll of S COIJJOratinn "talu~ 1 ,075,000
Oth~r. net 64,000 12,000 54.000
Total provision for income taxI'S $1,4,01,000 $ 29:,WOO S 451.000
15. leases:
The Company leases cet1ain equipment under capital leases.
Future minimum lease payments under capital leases as of
December 31, 1996 are as fnllowii:
Total minimum payments
Less amount representing interest
Present value of minimum payments
Less current portion
Long-term lease obligalion
$63,330
7,886
55.444
55,444
s
The Compan)' leases office facililies and certain Jesiden-
tiul premises for foreign employees under noncancelable
operating lease agreements. Rental expense under these
leases was approximately $604,000, 5517,000 and $406,000
during 1996. 1995 and 1994-. respccth'e1y. Future minimum
lease payments as of December 31, 1996 for leases with non-
cancelable terms in excess of the one year are approximately
as follows:
1997
1998
1999
2000
2001
Thereafter
Total minimum payments
$ 638,000
392.000
145,000
139,000
146,000
661,000
$2,121.000
During November 1995. I MR entered into a noncancelable
lease agreement to sublease a portion of its office facilities.
Rental income underthis lease was approximately $145,000
in 1996 and $5.000 during 1995. Future minimum lease
receipts as of December 31, 1996 are approximately 8140,000
for 1997.
16. Shareholder"s Equity, Stock Option and
Stock Purchase Plans:
On Sepll~lI\lwr 12. ] C)')6. the Company filed Amended
untl H(~stated Articll'~ of Incorporation which (j) effected a
reclassification of t~a('h shart' of its voting and nonvoting
common stock into 10 bhares of common stock. par vallie
SO.lO per shure. (ii) increa:ied the Company's uuthorization
of common ~tock to 40,O(){),OOO shareb, and (iii) created and
authorized 10.000.000 shares of prefrrred stock. par value
SO.l 0 per share. under tenns that a.lloY.' the Board of Directors
to designate om' or more dasses of preferred slock and 10 des-
ignate the rights. privileges, preferences and limitations of
each such class. All applicable shure and per share amounts
in the accompanying financial statements have been retroactively
adjusted to reflect this reclassification.
On November 11,1996, in connection with the termination
of IMR's S Corporation election (see Note 2) IMR's remaining
retained earnings were classified to additional paid-in capital.
During 1996, the Company completed an initial public
offering and received $40.7 million in cash (net of offering
expenses of 81.1 miIlion)in exchange for the issuance of
3,212,500 shares of eommorl stock, The Company's common
stock commenced trading 011 the Nasdaq National Market on
November 8,1996.
Employee Stock OpiUJn Plan - IMR has granted non-quali-
fied stock options to certain employees with vesting periods
of up to five years. The number of shares of common stock
authorized for issuance under this plan is 5.445,980. These
options give the employee the right to purchase common
stock at an exercise price estimated by management to be at
least equal to the fair value of the stock at the date of the
option's grant. For all options granted, the term during which
employees may exercise the option was initially 10 years. On
July 15, 1996, management reset the term for all options'
granted through that date to 10 years starting July IS, 1996,
All options granted subsequent to July 15, 1996 expire 10
years from their grant date. In the case of the options granted
, at the time of the Company's initial public offering in
November of 1996. the exercise price is equal to 514 per
share, the initial public offering price.
Out.~ide Directors Stock Option Plan - In September
1996, the Company established the Outside Directors Stock
Option Plan, whereby outside directors may be granted non-
qualified options to purchase common stock. The number of
1996
Weighted-Average
Fixed Options' :' Shares ' Exercise Price
Outstanding at beginning oryear 2,205,450 $0.10
Granted. 3,229,000 $1'.48
Exercised, . '(136,170) $0.10
C~ncel.led (128,210) $0.10
Outstanding' utend of year 5,170,070
Optionsexercisable at year-end 4,551,410
1:\I-'()H~l:\TIO\' M:\\',\(;I':~H:!\T HI':~Ol;HCE~, I~C. :\:'\1> SIJIlSIIlIAHY
shares of ('OllllllOn l"tock authorizl:,d for iSSIILl/We under this plan
il-o 1;;0.000, Tilt, eX(~I'('i~iI' price of Ihl' stol'k option ilia)' nol be
11':'s Ihan till' fair murkl.t mille of the COllllllon stuck on the
date of the grant. EUl'h outside director is grunted all option
~runt uf IO,OUO shafl's ('lIch biannual fll'riod whieh Iht,)'
serve on tilt' Board which expirt' I 0 yeur~ from the grunt
date, Bq;inning wilh dw grunt date. thes(~ options vest 50%
at the enn of the first year and 100% at the end of the sec-
ond year. As of Del't'lIIher 3 I. 1996. ] 20.000 options are
a\'ailable filr future grants and :-30.000 options ure outstanding
of which IlOne art' exercisable.
Stock Optio/l Disclosures - The Company applies APB
Opinion No. 25 and related Interpretatiolls in accounting for
stock options. Accordingly. no compensation cost has been
recognized in connection with the issuance of these optiol1B.
Had compensatioll eost for the Company's stock options plan
been determined based on the fair value at the grant dates
for tht' awards under the plan consistent with the method of
Sf AS Stntement 12.'1, the Company's net income and euminl,"S per
share for the years enued December 31. 1996 and 1995 would
have been rcejuced to the adjusted amounts indicated below;
1996 1995
Pro forma net income:
As reported
As adjusted (unaudited)
Pro forma earnings per share:
AB reported
As adjusted (unaudited)
$2,544,931
$2.088,87:l
$0.22
$0.18
51,612,471
S l,564,()32 '.
$0.12
$0.11
The estimated per share fair value of options granted dur-
ing 1996 and 1995 was $].48 and $0.10, respectively. The
fair value of each option granted is estimated on the date of
grant using the Black-Scholes option-pricing model with the
following weighted average assumptions for grants in 1996
and 1995. respectively: no dividend yield for each year pre-
sented; risk-free interest rates of 7.9% and 5.9%; expected
lives of the options prior to exercise of 11.3 and 9.9 years.
Because the Company was not puhlicly held when the major-
ityof the grants were made, volatility of the stock price was
omitted from the pricing model as pennitted by Sf AS 123.
A summary of the ~tatus of the Company's stock option
plan as of December 31, 1996. 1995 and 1994, and changes
during the )"ears ending on those dales is presented below:
1994
Weighted-Average
Shares Exercise Price
.
(229,340)
2,205.450
$0.10
$0.10
$
$-
-~
1,807,670
428.130
.'
I:\FOH\IATIO\ \I\:\:\I:DU:yr HESol'Hn:S, I\C, :\\() SCBSIDI:\HY
The following tahlf~ sUlJlmarize:-; l't'rtuin infol1llUtion ahout
!'to('k options at Uf,(,t'lIIhf'r :11. 19<)():
Oplioll~ OUhlalHlinl' Option- Ex"rci 'abll'
:\urnh..r \\"Ij!hlt-d- :\\Naj!" :\ unJb"r
o lIlslUntlinJ:: H"l1Iuinin!( E \"rr-i,,' EXI'rCl"abl., E wn'j,....
aI12/:U/% Conlradllul Life I'n"f~:- al 12/31/% I'rict~"
1.941.070 9,5 p'ar~ S 0,(0 1,8{'().O;O $ 0.10
2.Sm.:.W) 1),5 yeats ~ 0,50 2,(.1 70.:HO S 0.50
285.060 I)..> Yi'ar" $ S,O(, S .1.1.16
10.000 l),g y..ar~ $10.00 ~ I O,IlO
lall.OOO 9,8 Yl'ar~ SI,tO{) /.:; .000 SI.WO
5.1 iO.OiO .loS,')1 AI 0
--
As of Decemher 31. 1996. options to purchase 2i5.910 shares
of Common Stock were available for future grants. Between the
date of the initial public offering and December 31. 1996. no
options were granted.
Employe(' Stock Purchase Plan - The COlIlpanr's
Employee Stock Purchase Plan (the "Stock Purchase Plan")
became effective on October 1, 1996. A total of 200.000
shares of the Company's Common Stock have been reserved
for issuance under tlte Stock Purchase Plan. An employee
electing to participate in the Stock Purchase Plan mUfit autho-
rize a stated dollar amount or percentage of the employee's
regular pay to be dcducted by the Company from the employee's
pay for the purpose of purchasing shares of Common Stock on
a quarterly basis. The price at which employees may purchase
Common Stock is 85% of the dosing price of the Common
Stock on the Nasdaq National Market on the first day of the
qualter or the last day of the quarter, whichever is lower.
The initial award of shares ullder this plan were granted
subsequent to December 31. 1996.
IMR-India Stock Option Plan - IMR-India has adopted
a separate Employee Share Option Policy which provides for
grants of options to employees to purchase eommon shares of
IMR-Indill. The maximum number of options that may be
granted under the poliey was 51,900 common shares. Under
the policy. options granted to an employee will vest upon com-
pletion of five years of continuous employment with IMR-India
or its affiliates. Vested options are valid for exercise during the
employees' employment with IMR-India 01' its affiliates and for
a period of six months thereafter. Options not exercised within
six months of cessation of employment expire.
A summary of the status of IMH-India's stock option plan
is as follows:
Weighted-Average
Shares Exercise Price
Balance, January 1. 1994
Granted
, Balance December 31. 1994
Granted
Balance, December 31, 1995
Canceled
Bnlnnce, December 31, 1996
13.000
4,000 '
17,000
8.500
25.500
(5,000)
20,500,
$0.00
$0.28
$0.00
$0.00-$0.28
:\ t Up<'eml)!'r :H. 199() and 1995. \'l'sted options \wre 1,000
and I ,O()(). n'~pj>('\i\'cly. There wen' no options exerei!'uhle lit
Dt'cclIIoer :H. I <)<)6. 19<)5 ullll 19<),1.
COllllH'n:-;ation t'xpense has heen rf'('ognized olllh(. differ-
eneI.' betwt'en fuir vulue at the date of tlte grunt and the exer-
l'i~l~ pri('c pursuant to APB Opinion No. 25. Compensation
expense is rt'l'()~lliZl.d over the life of tlw options.
Compensation expt'n~(' under this plan for the years ended
!)('(,cnlbl'r :H. 199(). 1995 und I ()<).j. approxilllul~d $2.000,
S24-.0()() and S,\,(}.O()(). n.spcctively. Under I MH-India's
poliey. options to Iw granted subsequent to Sept em her 6.
1996 are to he granted at 8n exereise price equal to the fair
market value of the common shares of IMR-India at the time
of the grant.
17. Employee Benefit Plans:
IMR implemented a 401(k) defined contribution pension
plan (the Plan). effective January 1. 1992, for employees
meeting certain service requirements. 1MB. will match 50%
of employees' contributions. up to 4% of their puy. limiterlto
a maximum contribution of S1.000 per employee.
Additional contributions may be made at the discretion of
management. Contributions made to Ihe Plall hy lMR totaled
approximately $20,000. $19.000 and S11.(){)() for the years
ended December 31, 1996. 1995 uno 1994. respectively.
IMR-India maintains certain employee benefit plans thut
cover substantially all employees. The employees' provident
fund, pension and family pension plans are statutory defined
contribution retirement benefit plan5. Under the plans,
employees contribute 10 percenl of base compensation.
which is matched by u 10 perccnt contribution by IMB-
India. Contributions made to the plan by IMH..lndia totaled
approximately $79.000. 832,000 and $32.000 for the years
ended December 31, 1996. 1995 and 1994. respectively.
The gy"atuity plan is a statutory posternploymenl benefit
plan providing defined lump sum henefits based on years of
serviee and final average (~ompensation. IMR-India makes
annual contributions to an employees' gratuity fund estah-
lished with a government-owned insurance corporation.
The contributions are ba..<;ed on aCluurial valuations mnde
by the insurance corporation as of Mareh 31 each year.
Contributions are made to this plan by IMR-J ndia were less
than $ 15.000 for each of the years ended December 31,
190n. 1995 ancI 1994. .
18. Related Parties:
IMR-India provides software development services to Il\1R-
U.K. at marker rates. During the years ended Decemher 31.
1996. 1995 and 1994. the Company recognized revenue froIn
IMR-U.K. of approximately 8877.000, $109,000 and $0,
respectively. At December ~1, 1996 and 1995. 1MB-U.K.
oweu IMR-India$646.000 and $60,000. respectively. for
these' sen-ices.
At December 31. 1996. the Company had two notes recei v-
ahle from Il\1ft-U.K. totaling $692,500, which resulted from
cash advances. These notes hear interest at 10% Clnd 8%
which is payable quarterly. Principal is payable in install-
ments through 1998. During 1996. the Company recognized
approximately S35,OOO of interest income on these notes.
..::t.,~",::;'.. ';,',;r )',: :.,' ',::,:';'. ",""S~:"j'~Fr";1,:f?';'1't\,;',,;,~:?',;?:t:,'?~/( ~";/'/,:'~C~';;Y:: :,' ~'j .;/,:,<:~,'~;,",:, i
"f
.
..
19. Concentrations of Credit Risk:
Financial instruments which potentially subject the
Company to concentration of credit risk consist principally
of cash and cash equivalents and trade rct:eivables. The
Company maintains its cash and cash equivalents with high
credit quality financial institutions and, b~' policy, limits the
amount of credit exposure to anyone financial institution.
Concentrations of credit risk with respect to accounts
receivable is limited due to the dispersion of the Company's
customer base acro~s different industries and geographies.
The Company's two largest customers accounted for approxi-
mately 40%. 40% and 34% of revenue for the years ended
December 31, 1996, 1995 and 1994, respectively, and ;{O%
and 33% of accounts recei vahle as (}f December 31, 19%
and 1995. respectively. No other customer accounted for
10%: of revenues for'the above periods.
20. Other Income:
Other income is summarized as follows:
1996
1995
1994
.
. Gain Oil dispouilion of property amI
, equipment in comlection y,;th
relocation of IMR-Inuia operations, '
,nrl of relocation C06t!\ of S 102.058
in 1995 -$
Gain on di!lpositiun of
IMR.India stock
Inveslmc.>nt and other income
5427.907 . S
71,209
1,013.503 '
253.048 44.702 12.303
. $253,().t3 S472.609 $1,097.015
-
,21. 'Acquisition or IMR-India:
.As de~cribed in Note 2, the Company acquired an addi-
tional 64.0% of IMR-India during 1996 which was accounted
for as, a purchase. The following unaudited pro forma infor-
"1ution presents a summary of consolidated results of oper-
ations of the Company as if the acquisition had occurred
. on January 1, 1995:
Revenue
........-
Pro fornla net income
Pro fonna lIet income
per share .
1996 1995
$27,948,076' $22,700,170
$ 2,747,613 $ 1,800,631
$0.23
$0.13
These unaudited pro forma results have been prepared
for comparative purposes only and include certain adjust-
,ments, such as reduction in minority,interest in net income
. , and additional amortization expen'~e, as a result of goodwilL
They do not purport to be indicative of the results of opera-
. tions which actually would have r,esultedhad the combina-
tion been in effecl on January -I, 1995, or of future results
of operations of the consolidated entities.'
-'.,
" '
I~FOH:\1ATIO:'\ M:\~AGEMENT HESOUHCES. INC. AND SUBSIDIAHY
22. SubsequentEven~:
Link Group Holdings. Limited and Illformation ManagemeTII
Resources (U.K.), Limitt'(J - On February 10. 1997 (effective
January U. 1997). the Company acquired 100% of the out-
standing stock of Link Croup Holdings Limited ("Link"), a
United Kingdom limited liability company. Link provides
transitional software outsourcing solutions to the information
technology departments of large businesses located in the
U.K. In exchange for Link's common stock, Link's shareholders
received 52.1 million in cash and 71,708 shares of the
Company's common stock. In addition, $1.6 million in cash is
payable to Link's shareholders one year from closing. The Link
acquisition will be accounted for as a purchase pursuant to the
provisions of APB Opinion No. 16. The purchase price will be
allocated to the assets acquired and liabilities 'assumed based
on their estimated fair values. The excess of the purchase
price over the net assets acquired will be amortized over
a period not to exceed len years.
Coincident with the above acquisition, the Company also
acquired 10.5% of IMR-U.K. from the Company's majority
shareholder and his spolise for $520,000 in cash. The pur-
chase price was dp.tennined through negotiations between the
Company-and the shareholder and his spo'usc. The excess of
the $520,000 purchase price over the net assets' acquired '
will be'charged as a reduction in equity. " ,
Prior to the above acquisitions, the Company owned 39.5%
of IMR-U.K. (see Note 2) and Link owned 50% ofIMR-U.K.
After the above acquisitions, the Company effectively owned
, 100% of both Link and IMR-U.K. '
, Movielolle, Ltd. - In March 1997. the Company acquired
100% of the 'outstanding stock of Movietone, Ltd. (an Indian
limited liability company) for approximately $1.7 million in.
ca.,h.'Movietone, Ltd. has no sigriifica'nl ongoing activities
and its only significant asset is a building located in India's' ,
Simtacruz Electronics Export Processing Zone. The ncquisi-
tion will be recorded as a purchase pursuant to,the provi- .
sions of APB Opinion No. 16. The entire purchase price will
be allocated to the building as it approximates its fair vallie."
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I:'tFOH\lATlO:\ ~L\l\A(a:m:~T IlESOUIlCES. I~C, '\:'\1) SUBSH>I:\ln
Report of Independent Accountants
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Direclors and Shareholders
of Infurmalion Management Resources. Inc.
.
We have audited the accompanying consolidated balance
sheets of Information Management Resources, Inc. and sub-
sidiary (the Company) as of December 31. 1996 and 1995.
and the related consolidated statements of income, changes
in shareholders' equity and cash flows for the years ended
December 31, 1996. 1995 and 1994. These financial state-
.' . ments are the responsibility of the Company's management.
Our respunsibility is to express an opinion on these financial
statements based on our audils. We did, not audit the finan-
cial statemenls of Infoollalion Management Resources (India)
Limited, a consolidated subsidiary as of Deeember 31, 1995
and for the years ended December 31, 1995 and 1994. con-
stituting approximately 31% of consolidated assets as of
December 31, 1995 and upproximately 81 % and 86% of
consolidated cost of revenues for the years ended December 31,
1995 and 1994, respectively (see Note 2). Those statements
were audited by other auditors whose report has been furnished
to us, and our opinion. insofar as it relates to the amounts
included for InfonnatillH Management Resources (India)
Limited, is based sulely on the report of the other auditors.
We conducted our audits in accordance with generally
accepted auditing standards. Those standards require that we
plan and perform the audit to obtain reasonahle assurance
about whether the filluncial statements are free of material
misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the finan-
cial statements. An audit also includes assessing the account-
ing principles used and significant estimates made by
management, as well as evaluating the overall financial state-
ment presentation. We believe that our audits and the report of
the other auditors provide a reasonable basis for our opinion.
In our opinion. based on our audits and the report of the
other auditors. the consolidated financial statements referred
to above present fairly. in all material respects, the consoli-
dated financial position of Information Management
Resources. Inc. and subsidiary as of December :-31, 1996 and
1995, and the consolidated results of their operations and
their cash flows for the years ended December 31, 1996,
1995 and 1994, in conformity with generally accepted
accounting principles.
~/1~/.J.1!
Tampa, Florida.
March 7, 1997
REPORT OF INDEPENDENT PUBLIC ACCOUNTAI\TS
To the Board of Director!' of
Information Management Resources (India) Limited
We have audited thf:' accumpanying balance sheet of
Information Management Resources (India) Limited (a com-
pany incorporated in India) as of December 31, 1995. and
Ihe related statements of operations. shareholders' equity
and cash flows for t he years p.nded December 31, 1995
and December 31. 1994. These finulI('ial statements are the
responsibility of the Company's managt>ment. Our responsi-
bility is to exprt>ss an opinion on thcr.e financial statements
based on our audits.
We conducted our audits in uccordance with generally
accepted auditing standards in the United States of America.
Those standards require that we plan and perfoon the audit
to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles llsed and
significant estimates made by management. as well as evalu-
ating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In 0111' opinion, the finllllcilll stalements referred to abo\'c
present fairly. in all material respects. the financial position
of Infomwtion Management Resources (India) Limited as of
December 31, 1995. and lhe results of its operations and
its cash 00\\'5 for the years emled December 31, 1995 and
December ::H, 1991~ in conformity with generally accepted
accounting principles in the United States of America.
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Bombay. India
September 6. 1996
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Corporate Information
OFFICEHS
HEADQlJAHTEHS
Infonnatioll Mallu~ellwnt Re::-\ourccs. Ine.
26750 U.S. Hi~hway I <) North. Suile 500
Clearwater. Florida :N()21
(HUJ) 797-7080
Sati~h K. Sanun
Chairman of the Board,
Pre$ident and Chief Executi,'e Officer
Ashutosh Gupta
President and Director. IMR-India
HEGIONAL OFFICES
Chicugo. IL
Boston. MA
Rochester. NY
Dallas. TX
Philip ShipperIee
Managing Director, IMR-U.K.
John R. Hindman
Chief Financial Officer
Dilip Patel
lIice President - General Counsel; Secretary
SUBSIDIARIES
IMR-Canada
Toronto
IMR-India
Bangalore
Bomhay
IMR-U.K.
Michael J. Dean
Vice President - Controller
Kasi V. Sridharan
Execulive Vice President -
Special Projects &: Strategic Planning
SHAREHOLDER INFORMATION
Information Management Resourl'cs. Inc. provides informa-
tion to shareholders and interef'ted investors upon rt~quest.
For additional infomwtion on the Company. or to obtain a
copy of 1M Irs Annual Heport on Form lO-K. ffl'e of ('hurge.
contact the Investor Relation:; Department at the executive
offices in Clearwater, Florida.
Jeffery S. Slowgro\'c
Treasurer
DIRECTORS
General Company infomlation also is available via IMll's
home page on the Internet at http://www.irnr.colll or call
1-888- 786-40 77
Sat ish K. Sanan
Chairman of the Board,
Presidelll (lnd Chief Executive Officer
TRANSFER AGENT
American Stock Transfer &: Trust Company
Vincent Addonisio
Preside"t
Parker Communications Network. Inc.
INDEPENDENT AUDITOHS
Coopers &: Lybrand L.L.P.
Tampa. Floridtl
Charles C. Luthin
Vice Presidl:nt .
Eckert! Family Youth Altematilles, Inc.
CORPORATE COUNSEL
Morris, Manning &: Martin L.L.P.
Atlanta, Georgia
Philip Shipperlee
Managing Director of lil1R-U.K.
COMMON STOCK
Infurmation Managenwnt Resources, Inc.'s common stock
is tradeu on the NASDAQ Nationall\1arket~'1 under the
symbollMHS.
Jeffel")' S. Slowgro\'e
Treasurer
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM lO-Q
Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
for the quarterly period ended September 30, 1997
Commission File Number 0-28840
INFORMATION MANAGEMENT RESOURCES, INC.
(Exact name of Registrant as specified in its charter)
Florida
(State or Other Jurisdiction of
Incorporation or Organization)
59-2911475
(I.R.S. Employer Identification No.)
26750 U.S. Highway 19 North, Suite 500, Clearwater, Florida 33761
(Address of principal executive offices and zip code)
813-797-7080
(Registrant's telephone number, including area code)
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
As of November 4, 1997, there were 17,042,663 outstanding shares of the Registrant's Common
Stock~ par value $.10 per share.
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INFORMATION MANAGEMENT RESOURCES, INC.
Table of Contents
Part I - Financial information
P82e
Item 1.
Consolidated Balance Sheets
as of September 30, 1997 and December 3 1, 1996
3
Consolidated Statements of Income
for the Three Month and Nine Month Periods Ended
September 30, 1997 and 1996 .............................. 4
Consolidated Statements of Cash Flows
for the Nine Month Periods Ended
September 30, 1997 and 19.96 .............................. 5
Notes to Consolidated Financial Statements .................... 6
Item 2. Management's Discussion and Analysis of Results of
Operations and Financial Condition .......................... 9
Part n - Other Information
Item 1.
Legal Proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Item 5.
Other Infonnation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Item 6.
Exhibits and Reports on Form 8-K ......................... 14
2
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INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited and in thousands)
December 31,
1996
September 30,
1997
(Unaudited)
ASSETS
Current assets:
Cash 8lld cash equivalents .................. It . . . . . . . . . . . . . . . S
Marketable secllrities ......................................
Ac:::a>unts receivable .......................................
Unbillcd work in ~ ...................................
Accounts rece-ivable, affiliate ................................
Notes ~ivablet affiliate ..................................
moomc tax rc=ivablc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total assets .......................................... $
24,082 $ 63,951
5.644 21,481
5.670 II , 124
1,074 3,766
646
533
875
2,320
890 1,566
38,539 105.083
3.703 8,402
720 459
159
438 647
5.394 1 0,298
48.953 $ 124.889
Defc:JTed inoome taxes .... II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ot.hCl" Cl1J'r'CI1t assets .......................................
Total Ct.J.rr'ent assets ....................................
Property and equipment, net of accumulated depreciation ............
Capitalized software costs, net of accumulated amortimtion . . . . . . . . . . .
Note receivable, affiliate .....................................
Dc:posits and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Goodwill. net of accumulated amortimtion .......................
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Revolving credit loans .....................................
Ac:xx>unts payable .........................................
Accrued expenses .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
lnoome tax payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Deferred inoome taxes .....................................
Current portion of long-tenn debt ...... . . . . . . . . . . . . . . . . . . . . . . .
Current matwities of capital lease obligations . . . . . . . . . . . . . . . . . . . .
Current portion of notes payable-shareholders. . . . . . . . . . . . . . . . . . . .
Deferred revenue .........................................
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
s S 281
1.364 2,768
2,878 7.300
477 16
258
295
55 63
814
1.965 4.770
71811 15,493
885
634 373
85 111
8,530 16.862
67 39
Total current liabilities .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Long-tenn debt ............................................
Deferred income taxes ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other liabilities ... . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
I,
Minority interest ...........................................
Shareholders' equity:
Preferred stock ..........................................
Common stock ...........................................
AdditionaI.paid-in capital .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Retained eanlings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Cumulative foreign currency translation adjustment ...............
Total liabilities and shareholders I equity. . . . . . . . . . . . . . . . . . . . .
1,447 1,704
38,359 98,389
669 8,043
(119) (148)
40.356 107.988
S 48.953 S ) 24.889
Total shareholders' equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The accompanying notes are an integral part of these consolidated.financial statements.
3
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INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited and in thousands except per share data)
Three Months Ended
!l;~pt~mMr 30,
1 C)CUi 1991
Nine Montbs Ended
S~ptembt!r 30,
1996 1991
Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . S
7.048
3.917
$ 23.044
12.613
$ 19.445
10.928
$ 56,158
31,026
Cost of revenues .....................
Gross profit .....................
3.131
10.431
8,517
25,132
Selling. general and administrative expenses
Goodwill amortization .......... . . . . . ..
1,974
31
5.668
283
5,249
60
14,339
830
Total operating expense ...........
2.005
5.95 1
5,309
15,169
Income from operations . . . . . . . . . . . .
1.126
4,480
3,208
9,963
Other income (expense):
Interest expense .................
(62)
26
(36)
552
(222)
58
( 172)
],073
Interest income and other ..........
Total other income (expense) .......
(36)
516
(164)
901
Income before provision for income taxes and
minority interest . . . . . . . . . . . . . . . . .
1.090
4,996
3,044
10,864
Provision for income taxes . . . . . . . . . . . . . .
42
1,509
157
3.443
Income before minority interest. . . . . .
1,048
3,487
2,887
7,421
Minority interest in net income ..........
(167)
(22)
( 497)
(47)
Net ina>mc .. . . . . . . . . . . . . . . . . . . . $
881
$
3.465
$
2.390
s
7.374
Net income per share
50.15
SO.33
Pro forma income data:
Historical net income . . . . . . . . . . . . . . . . . . S
Pro forma adjustment to income tax expense
881
290
$
2.390
855
Pro fonna net income. . . . . . . . . . . . . . . . . .' $
591
$
1.535
Pro fonna net income per share ..........
Weighted average common and
common equivalent shares .........
SO.03
16.883
23.489
$0.09
17.004
22.621
The accompanying notes are an integral part of these consolidated financial statements.
4
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INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited and in thousands)
Nine Mnnth~ F.ncled s'f':Ptemher ~O,
1 QQIi 1 QQ7
.
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Cash flows fror.1 operating activities:
Net inoome . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . s
2.390 $
7,374
Adjustment to reconcile net income to cash provided by (used in)
openuing activities:
Dcp .. d ..
reclallon an a:unortl2atlon..............................
Unrealized exchange losses (gains) ..... . . . . . . . . . . . . . . . . . . . . .
(Gain) Joss in equity investment. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Minority interest in net income ........................... t' .
. Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable and unbilled work-in-process .............
Other cuncnt assets .."...".............................
Deposits and other assets ................................
Accounts payable ................. . . . . . . . . . . . . . . . . . . . . .
ACCl"'Ucd cxperlScs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Inoome taxes pa)1abJe ............ p . . . . . . . . . . . . . . . . . . . . . . .
Deferred income taxes ..................................
414
8
(16)
496
(1.767)
(338)
(164)
866
284
2,583
(11)
47
Deferred revenue ..............."...."................"
34
1.129
(4)
(4,799)
SO
(209)
637
1,720
(530)
2,427
34
Other liabilities .......................................
Total adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
942
1.949
9.323
Net cash provided by operating activities
3.332
Cash flows from investing activities:
Investment in marketable securities ...........................
Additions to capitalized software costs .........................
Additions to property and equipment ..........................
Increase in equity investment and loans to affiliate ..... . . . . . . . . . . .
Acquisition of interest in consolidated subsidiary .................
Acquisition of subsidiaries, net of cash received
and liabilities assumed ...................................
(141)
(1,913)
(392)
(1.790)
(15.837)
(763)
(4,679)
Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . .
(4.236)
0.287)
(24.566)
Cash flows from financing activities:
Net (reductions) borrowings from revolving credit line .. . . . . . . . . . . .
Proceeds from long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Payments on long-tenn debt .................................
Payments on notes payable-shareholder ........................
Payments on capital lease obligations . . . . . . . . . . . . . . . . . . . . . . . . . .
Payment of dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Proceeds from issuance ofoommon stock .......................
Proceeds from exercise of stock options ........................
Purchase of treasury stock at cost .............................
1.003
900
(1.561)
(350)
(117)
(22)
10
(654)
1,180
(822)
(57)
53,142
2,341
Net cash provided by (used in) financing ~ctivities .............
(217)
(354)
(1] )
( 1.269)
1.621
352 S
63.951
Effect of exchange rate changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Net (decrease) increase in cash and cash equivalents . . . . . . . . . . . . . . . .
Cash and cash equivalents at beginning of year ....................
Cash and cash equivalents at end of period ....................... $
The accompanying notes are an integral part of these consolidated financial statements.
5
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INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATE:MENTS
September 30, 1997
(Unaudited)
.
1. Basis ofPresentatioD
In the opinion of management, the accompanying consolidated financial statements have been prepared in
confonnity with generally accepted accounting principles and include all adjustments, consisting only of an
normal recurring adjustments, necessary for a fair presentation. The results of operations for the three and nine
month periods ended September 30, 1997 are not necessarily indicative of the results to be expected for the full
year. These interim consolidated financial statements should be read in conjunction with the audited
consolidated financial statements for the year ended December 31, 1996, which are contained in the Company's
Annual Report on Form 10-K as filed with the Securities and Exchange Commission.
2. Summary of Significant Accounting Policies
Principles o/Consolidation - The consolidated financial statements include the accounts of Information
Management Resources, Inc. ("IMR" or the "Company'''), its wholly owned subsidiaries and its effectively
control,led foreign subsidiary. All significant intercompany balances and transactions have been eliminated.
Marketable Securities - The Company currently invests in only high quality, short-term investments which
are classified as available-for-sale as defined by Statement of Financial Accounting Standards (SF AS) No. lIS,
"Accounting for Certain Investments in Debt and Equity Securities." As such there were no significant
differences between amortized cost and estimated fair value at September 30, 1997 . Additionally, because
investments are short-tenn and are generally allowed to mature, realized gains and losses have been minimal
through September 30, 1997.
The following table presents the estimated fair value of marketable securities by category:
September 30, 1997
(In thousands)
Municipal debt securities ................................ $
Certificates of deposit - foreign . . .. . . . . .. . .. . . . . . . .. . . . .. .
Interest income receivable ...............................
20,990
64
427
$
21.481
The maturity of the above marketable securities at September 30, 1997, is between four months
and one year.
6
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,
INFORMATION MANAGEMENT RESOIJRCES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
September 30,1997
(Unaudited)
2. Summary of Significant Accounting Policies (Continued)
Computation of Net Income per Share - Net income per common and common equivalent shares has been
computed using the weighted average number of common and dilutive common equivalent shares outstanding
during each period presented. Shares of stock issuable pursuant to stock options have been included where their
effect is dilutive. Fully diluted earnings per common share are not presented as they are not materially different
from primary earnings per share. DiIutive common equivalent shares consist of stock options (using the treasury
stock method).
Reclassification - Recruiting expenses have been reclassified from cost of revenues to sellin~ general and
administrative expenses for the three and nine month periods ended September 30, 1996 to conform to the new
classification of these expenses for the three and nine month periods ended September 30, 1997.
3. Pro Fonna Net Income
Prior to November 1996, the Company elected to be taxed as an S Corporation under the provisions of the
Internal Revenue Code whereby taxable income is generally reported by the shareholders on their individual
income tax returns. In connection with the Company's initial public offering, the S Corporation election was
terminated on November 11, 1996 and subsequently the Company became subject to U.S. federal and state
income taxes as a C Corporation.
To properly reflect the Company's results of operations, the provision for income taxes is presented on a
pro forma basis, as if the Company had been a taxable entity subject to federal and state income taxes at the
marginal rates for the three and nine month periods ended September 30, 1996 as a C Corporation.
4. Acquisitions
Link Group Holdings Limited and Information Management Resources (U.K.) Limited ("IMR-U.K.
Acquisition") - On February 10, 1997 (effective January 8, 1997), the Company acquired 100% of the
outstanding stock of Link Group Holdings Limited ("Link"), a United Kingdom limited liability company. Link
provides transitional software outsourcing solutions to the information technology departments of large
businesses located in the U.K. In exchange for Link's common stock, Link's shareholders received $2.1 million
in cash and 107,562 shares of the Company's common stock. In addition, $1.6 million in cash is payable to
Link's former shareholders one year from closing (included in accrued expenses). The Link acquisition is
accounted for as a purchase pursuant to the provisions of APB Opinion No. 16. The purchase price was
allocated to the assets acquired and liabilities assumed based on their estimated fair values. The excess of the
purchase price over the net assets acquired (goodwill) will be amortized over a period not to exceed ten years.
Coincident with the above acquisition, the Company also acquired 10.5% of Information Management
Resources (U.K.) Limited ("IMR-U.K.") from the Company's majority shareholder and his spouse for $520,000
in cash. The purchase price was detennined through negotiations between the Company and the shareholder
and his spouse. The excess of the $520,000 purchase price over the net assets acquired was charged as a
reduction in equity.
7
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INFORMA nON MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
September 30, 1997
(Unaudited)
4. Acquisitions (Continued)
Prior to the above acquisitions, the Company owned 39.5% ofIMR-U.K. and Link owned 50% ofIMR-
U.K. After the above acquisitions the Company effectively owns 100% of both Link and IMR-U.K.
Movitone Electronics Limited. - In March 1997, the Company acquired 100% of the outstanding stock
of Movitone Electronics Limited (an Indian limited liability company) for approximately $1.7 million in cash.
Movitone Electronics Limited has no significant ongoing activities and its only significant asset is a building
located in India's Santacruz Electronics Export Processing Zone in Mumbai, India. The acquisition is recorded
as a purchase pursuant to the provisions of APB Opinion No. 16. The entire purchase price was allocated to
the building as it approximated its fair value.
s. Shareholders' Equity
On June 19, 1997, the Company declared a 3-for-2 stock split in the fonn of a stock dividend payable on
JulylO, 1997 to shareholders of record on June 26, 1997. All applicable share and per share data in the
accompanying financial statements have been retroactively adjusted to reflect this dividend.
On August 5, 1997, the Company completed a public offering of 1,725,000 shares (including shares issued
pursuant to the exercise of the undel"V'll'iters' over-allotment option) of its authorized but unissued Common
Stock, par value $0.]0 per share. Net proceeds to the Company from this offering were approximately $52.5
million after deducting the underwriters' discount and expenses payable by the Company in conn~tion with the
offering.
Changes in shareholders' equity for the nine months ended September 30, 1997 is summarized as follows
(in thousands):
C',tln)mnn Stnd" Paid.in Retained Translation
~hl'lr!'!<l: Amnllnt ("Rp;tal F.am;"~ Adjllc:tmt!11t Tnt~1
Balance. December 31. 1996 14,474 S 1,447 S 38,359 $ 669 S (119) $ 40,356
Link acquisition 108 I J 1.018 1.089
Employee stock purchase 69 7 587 594
Stock options exercised 660 66 118 184
Tax benefit of stock options exercised 5,872 5.872
Public offering 1,725 173 52.375 52.548
Net income 7.374 7.374
Translation adjustment (29) (29)
Balance, September 30. 1997 17.036 $ 1.704 $ 98.389 S 8.043 $ (I 48) S J 07.988
8
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INFORMA nON MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDmON AND RESULTS OF OPERATIONS
Except for historical information contained herein, some matters discussed in this report, including but
not limited to statements relating to the Company's anticipation of an increase in business volume during 1998,
constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. The Company notes that a
variety of risk factors could cause the Company's actual results and experience to differ materially from the
anticipated results or other expectations expressed in the Company's forward-looking statements. Reference
is made in particular to the discussion set forth below in this report and set forth in the Company's Registration
Statement on Form S-1 (Registration No. 333-30741) and its Annual Report on Form 10-K for the fiscal year
ended December 31, 1996, as filed with the Securities and Exchange Commission.
Results of Operations
Three Months Ended September 30, 1997 Compared to Three Months Ended September 30, 1996
Revenues. For the three months ended September 30, 1997, revenues increased to $23.0 million
representing a 227.0% increase over revenues of $7.0 million for the three months ended September 30, 1996.
The Company's acquisition of a 100% interest in IMR-U.K. in January 1997 (see Note 4 of Notes to
Consolidated Financial Statements) and the consolidation of revenues realized by IMR-U.K. accounted for $4.9
million of the revenue increase. In addition, revenues from the Company's core transitional outsourcing services
(software development, application maintenance and migration and re-engineering services) increased 113.5%
over the third quarter of 1996. Third quarter revenues from the Company's Year 2000 conversion service
increased to $12.8 million (including IMR-U.K. revenues), compared to $2.2 million for the third quarter of
1996.
Cost of Revenues. Cost of revenues was $12.6 million, or 54.7% of revenues, for the three months
ended September 30, 1997, as compared to $3.9 million, or 55.6% of revenues, for the three months ended
September 30, 1996. The decrease in cost of revenues as a percentage of revenues reflects: (i) the Company's
implementation of better controls over project pricing and margins; (ii) a higher percentage of Year 2000
conversion services projects in the most recent quarter, which generally have resulted in higher margins than
contracts for the Company's professional service and maintenance service offerings; and (Hi) improved
utilization of software development and personnel in India. This improved utilization reflected the benefits
associated with the expansion and training of the Company's India-based personnel. Wage costs continue to
increase at a greater rate than inflation in each of the countries in which IMR has operations, and the Company
anticipates that this trend will continue in the near. term. The Company has been able to pass these wage
increases on to its customers in the form of increased prices for its service offerings. However, there can be no
assurance that the Company v.,'i!l be able to continue to increase prices to its customers to offset future wage
mcreases.
Gross Profit. Gross profit increased to $10.4 million in the third quarter of 1997 compared to $3. ]
million in the prior comparable period. As a percentage of revenues, gross profit increased to 45.3% in the third
quarter of 1997 compared to 44.4% in the third quarter of 1996. The Company's gross profit margin increased
for the U.S. and India operations; however, the U.K. operations partially offset this increase as the U.K.
operations derived a substantial portion afits revenues from professional services which generally result in lower
profit margins.
9
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INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(CONTINUED)
Three Months Ended September 30, 1997 Compared to Three Months Ended September 30, 1996
Selling, General and Administrative Expenses. For the three months ended September 30, 1997,
selling, general and administrative (SG&A) expenses increased to $5.7 million, compared to $2.0 million for
the three months ended September 30, 1996. As a percentage of revenues, SG&A expenses for the three months
ended September 30, 1997 decreased to 24.6% from 28.0% for the same period in 1996. This decrease as a
percentage of revenue occurred due to the rapid increase in revenues in the third quarter of 1997 compared to
the rate of increase in SG&A in the same period. The dollar increase in SG&A expenses is attributable to the
addition ofSG&A expenses resulting from the acquisition ofa 100% interest in IMR-U.K., expansion of the
Company's delivery capacity, regionalization of operations, additional costs associated with being a public
company, increases in costs related to expanding the Company's general support staff (primarily recruiting,
research and development and human resources) and start-up costs related to the establishment of Information
Management Resources (Northern Ireland) Ltd. ("IMR-N.l."). The Company expects to continue to increase
its SG&A expenses in anticipation of a potential increase in business volume during 1998.
Goodwill Amortization. Goodwill amortization increased to approximately $283,000 for the three
months ended September 30, 1997 from approximately $31,000 for the three months ended September 30, 1996.
This increase reflects the goodwill resulting from the acquisition of 64.0% of IMR-India in the second half of
1996, the acquisition of a 100% interest in IMR-U.K. in January 1997 and the establislunent of IMR-N.l.
Income from Operations. Operating income for the third quarter of 1997 was $4.5 million compared
to $1.1 million in the comparable period of 1996, representing a 297.9% increase. As a percentage of revenues,
income from operations for the three months ended September 30, ] 997 increased to ] 9.4% from 16.0% in the
comparable period in 1996.
Other Income (Expense). The Company realized net other income of approximately $516,000 in the
third quarter of 1997 compared to net other expense of approximately $36,000 in the comparable period of
1996. Other expense in the third quarter of 1996 included interest expense of$62,000, interest and other income
of$10,000 and a gain related to the Company's equity investment in IMR-U.K. of approximately $16,000.
During the third quarter of 1997, the Company recognized approximately $552,000 in investment income from
the investment of the remaining net proceeds from its public offerings in November 1996 and August 1997.
Investment income was partially offset by approximately $62,000 ofinterest expense related primarily to credit
facilities in India and the U.K.
Provision for Income Taxes. The provision for income taxes increased to approximately $].5 million
for the three months ended September 30, 1997 from approximately $42,000 for the three months ended
September 30, 1996. This increase is due to increased earnings and the Company's termination of its S
Corporation tax status in conjunction with its initial public offering in November 1996. Prior to this termination
the provision for income taxes only reflected taxes related to IMR-India. On a pro forma basis,
10
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I
INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDmON AND RESULTS OF OPERATIONS
(CONTINUED)
Three Months Ended September 30, 1997 Compared to Three Months Ended September 30, 1996
giving effect to the Company's termination of its S Corporation tax status as of November 1 I, 1996, the income
tax provision for the third quarter of 1996 would have been approximately $332,000. This represents an
effective pro fonna tax rate of 30.2% and 30.5% for the three month periods ended September 30, 1997 and
September 30, 1996, respectively.
Minority Interest in Net Income. Minority interest in net income decreased to approximately $22,000
for the three months ended September 30, 1997 from approximately $ 167,000 in the comparable period in 1996.
This represents the portion ofIMR-India's net income which is allocated to IMR-India's minority shareholders.
This decrease was a result of the acquisition of 64.0% oflMR-India by the Company during late 1996.
Net Income. Net income for the third quarter of 1997 is approximately $3.5 million or $.15 per share
compared to pro forma net income of approximately $591,000 or $.03 per share in the comparable period in
1 996.
Nine Months Ended September 30, 1997 Compared to Nine Months Ended September 30, 1996
Revenues. For the nine months ended September 30, 1997, revenues increased to $56.2 million
representing a 188.8% increase over revenues of$19.4 million for the nine months ended September 30, 1996.
The Company's acquisition of a 100% interest in IMR-U.K. in January 1997 (see Note 4 of Notes to
Consolidated Financial Statements) accounted for $12.7 million of the revenue increase. In addition, revenues
from the Company's core transitional outsourcing services (software development, application maintenance and
migration and re-engineering services) and, to a greater extent, revenues from the Company's Year 2000
conversion services continued to expand. For the ftrst nine months of 1997 revenues from the Company's Year
2000 conversion services increased to $29.4 million (including IMR-U .K. revenues), compared to approximately
$3.7 million for the first nine months of 1996.
Cost of Revenues. Cost of revenues was $31.0 million, or 55.2% of revenues, for the nine months ended
September 30, 1997, as compared to $10.9 million, or 56.2% of revenues, for the nine months ended September
30, 1996. The decrease in cost of revenues as a percentage of revenues reflects: (i) the Company's
implementation of better controls over project pricing and margins; (ii) a higher percentage of Year 2000
conversion services projects in the most recent quarter, which generally have resulted in higher margins than
contracts for the Company's professional service and maintenance service offerings; and (iii) improved
utilization of software development and personnel in India. This improved utilization reflected the benefits
associated with the expansion and training of the Company's lndia-base{i personnel. Wage costs continue to
increase at a greater rate than inflation in each of the countries in which IMR has operations, and the Company
anticipates that this trend will continue in the near term. The Company has been able to pass these wage
increases on to its customers in the form of increased prices for its service offerings. However, there can be no
assurance that the Company will be able to continue to increase prices to its customers to offset future wage
Increases.
11
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INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
MANAGEl\1ENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(CONTINUED)
Nine Months Ended September 30, 1997 Compared to Nine Months Ended September 30, 1996
Gross Profit. Gross profit increased to $25.1 million in the first nine months of 1997 compared to $8.5
million in the prior comparable period. As a percentage of revenues, gross profit increased to 44.8% in the first
nine months of 1997 compared to 43.8% in the fITst nine months of 1996. The Company's gross profit margin
increased for the U.S. and India operations; however, operations ofIMR-U.K. partially offset this increase as
IMR-U.K. derived a substantial portion of its revenues from professional services which generally result in
lower profit margins.
Selling, General and Administrative Expenses. For the nine months ended September 30, 1997, SG&A
expenses increased to $14.3 million, compared to $5.2 million for the nine months ended September 30, 1996.
As a percentage of revenues, SG&A expenses for the nine months ended September 30, 1997 decreased to
25.5% from 27.0% for the same period in 1996. While as a percentage of revenues SG&A expenses decreased
slightly, the increase in real terms is attributable to the inclusion of SG&A expenses of IMR-U.K., expansion
of the Company's delivery capacity, regionalization of operations, additional costs associated with being a
public company, increases in costs related to expanding the Company's general support staff (primarily
recruiting, research and development and human resources) and the start-up costs related to IMR-N.l. The
Company expects to continue to increase SG&A expenses in anticipation of a potential increase in business
volume in 1998.
Goodwill Amorti=ation. Goodwill amortization increased to approximately $830,000 for the nine
months ended September 30, 1997 from approximately $60,000 for the nine months ended September 30, 1996.
This increase reflects the goodwill resulting from the acquisition of64.0% ofIMR-India in the second half of
1996, the acquisition ofa 100% interest in IMR-U.K. in January 1997 and the establishment ofIMR-N.l.
Income from Operations. Operating income for the first nine months of 1997 was $10.0 million
compared to $3.2 million in the prior comparable period, representing a 210.6% increase. As a percentage of
revenues, income from operations for the nine months ended September 30, ] 997 increased to 17.7% from
16.5% in the comparable period in 1996. As a percentage of revenues, 1.4% of this change was attributable
to expanded goodwill amortization described above, offset by the effect of revenues increasing more rapidly than
operating expenses.
Other Income (Expense). The Company realized net other income of approximately $90 I ,000 in the
first nine months of 1997 compared to net other expense of approximately $164,000 in the comparable period
of 1996. Other expense in the first nine months of 1996 included interest expense of$222,000 offset by interest
and other income of $42,000 and a gain related to the Company's equity investment in IMR-U.K. of
approximately $16,000. During the first nine months of 1997, the Company recognized approximately $1.1
million in investment income from the investment of the remaining net proceeds from its public offerings in
November 1996 and August 1997, and incurred approximately $172,000 of interest expense related primarily
to credit facilities in India and the U.K. and shareholder notes payable.
12
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INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
MANAGEMENT'S DISCUSSION AND ANAJ.. YSIS OF
FINANCIAL CONDmON AND RESULTS OF OPERATIONS
(CONTINUED)
Nine Months Ended September 30, 1997 Compared to Nine Months Ended September 30, 1996
Provisionfor Income Taxes. The provision for income taxes increased to approximately $3.4 miJIion
for the nine months ended September 30, 1997 from approximately $157,000 for the nine months ended
September 30, 1996. This increase is due to increased earnings and the Company's termination of its S
Corporation tax status in conjunction with its initial public offering in November 1996. Prior to this termination
the provision for income taxes only reflected taxes related to IMR-India. On a pro forma basis, giving effect
to the Company's termination of its S Corporation tax status as of November 11, 1996, the income tax provision
for the first nine months of 1996 would have been approximately $1.0 million. This represents an effective pro
forma tax rate of31.7% and 33.2% for the nine month periods ended September 30, 1997 and September 30,
1996, respectively. The decrease in the effective tax rate reflects a greater portion of profits generated by the
operations in India which has favorable tax rates and the investment of excess liquid assets into tax exempt
investments.
Minority Interest in Net Income. Minority interest in net income decreased to approximately $47,000
for the nine months ended September 30, 1997 from approximately $497,000 in the comparable period in 1996.
This represents the portion ofIMR-India's net income which is allocated to IMR-India minority shareholders.
This decrease was a result of the acquisition of 64.0% of IMR-India by the Company during late 1996.
Net Income. Net income for the first nine months of 1997 is approximately $7.4 million or $.33 per
share compared to pro forma net income of approximately $1.5 million or $.09 per share in the comparable
period in 1996.
Liquidity and Capital Resources
As of September 30, 1997, the Company had working capital of$89.6 million, a current ratio of 6.8
to 1, liquid assets (cash, cash equivalents and marketable securities) of$85.4 million and available bank lines
of credit of approximately $11.4 million. Additionally, cash provided by operations was $9.3 million for the
nine months ended September 30, 1997. The Company has committed approximately $1.8 million for the
acquisition ofa facility in New Delhi, India. The Company intends to use this facility as a software development
center. Management estimates that an additional investment of $2.0 million for renovating and equipment
acquisitions will be required. The Company has no other material financial commitments. The Company
continuously reviews its future cash requirements, together with its available bank lines of credit and internally
generated funds. The Company believes it has adequate capital resources to meet all working capital obligations
and fund further development of its business for at least the next 12 months.
Other Matters
During June 1997, the Company established IMR-N.l. and initiated operations in Belfast, Northern
Ireland which will serve as a software development center. Initial operations will include establishing an
infrastructure, recruiting resources and training project personnel.
13
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INFORMATION MANAGEMENT RESOURCES, INe. AND SUBSIDIARIES
Part II. Other Information
Item 1. Legal P~ings
The Company is not a party to any pending material litigation.
Item 5. Other Information
None
Item 6. Exhibits and Reports 00 Form 8-K
None
14
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned thereunto duly authorized.
INFORMATION MANAGEMENT RESOURCES, INC.
Date. November 12, 1997
Date November 12. 1997
f
15
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INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
EXHIBIT INDEX .
Exhibit
Number
Description
~
11 Computation of earnings per common share for the three month
and nine month periods ended September 30, 1997 and 1996 .. . . . . . . . .. 17
27 Financial Data Schedule ...................................... 18
i.
16
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EXHIBIT NUMBER 11
INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
CO~UTATIONOFE~GSPERCOMMONSHARE
(Unaudited and in thousands except per share data)
Three Months Ended Nine Months Ended
~f1'temher 30. Se:ptemher ~O,
tq911 <t) t9Q7 1 QQ6 (] >- lQ97
Net income ......................... ....... S 591 $ 3.465 $ 1.535 $ 7.374
c
Shares:
Weighted average number of common shares
outsta.nding ....... , . . . . . . . , . . . . . . . . . . . . 9,606 16.472 9,606 15,688
Assuming conversion of options issued and
outstanding ..... . . . . . . . . . . . . . . . . . . . . . . . 7,277 7,017 7,398 6,933
Weighted average common and
common stock equivalent shares outstanding 16.883 23.489 17.004 22.621
Net income per share .. . . . . . . . . . . . . . . . . . . . . . . SO.03 $0.15 $0.09 SO.33
(1) Net income and net income per share have been presented on a pro fonna basis as if the Company had been
fully subject to federal and state income taxes for all periods presented.
, .
17
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EXHmlT NUMBER 27
INFORMATION MANAGEMENT RESOURCES, INC. AND SUBSIDIARIES
FINANCIAL DATA SCHEDULE
(Unaudited and in tbousands except per share data)
nus SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS FOR THE PERIOD ENDED SEPTEMBER 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCiAL STATEMENTS.
Nine Months
F.nded Sf1\tr!mher 30. 1997
c.ash orld ca.sh items ........................................ t . . ,. I" . . . . . . . . . ,. . S
Marketable sect1rities. . .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . " .. . . . . . . . . . . . . . . . . . . . . .
63,951
21,481
11 , 124
o
o
105.083
10,893
2.49J
J 24,889
15,493
885
o
o
) ,704
) 06,284
124,889
o
56.158
o
31.026
15.169
o
172
10.864
3,443
7,374
o
o
o
7.374
$.33
$.33
Notes and accounts receivable - trade. . . . . . " . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Allo\vanoe for doubtful accoWlts .............................................
lnventOl}' .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . .
Total C1JJTent assets .......................................................
Property, pJa.nt and equipment .. .. . . . . . . . . . . . . . . . . . . . . .. .. . . . . . . . . . . . . . . . . . . . . .
Accumulated depreciation .................... . . . . . . . . . . .. . . . . . . . . . . . . . . . . . .
Total assets ..................................... . . . . . . . . . . . . . . . . . . . . . . . .
Total Cllrrent liabilities ...............................................,....
Bonds. mortgages, and similar debt ..................... . . . . . . . . . . . . . . . . . . . . . .
Preferred stock - mandatory redemption . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . _ . . . . .
Preferred stock. no mandatory redemption ................................,....
Common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other stockholders' equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . .. . . . . . .
Total liabilities and stockholders' equity ......................... .. .. .. .. . . . . . .
Net sa.1es of tangible products ...............................................
Total revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . .
Cost oftangibJe goods sold .................................................
Total costs and expenses applicable to sates and revenues ..........................
Other costs and expenses . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
l.
Provision for doubtful accounts and notes ......................................
Interest and amortization of debl discount ......................................
Income before taxes and other items ....................-......................
Income tax ex,pense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income from continuing operations ...........................................
Discontinued operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Extraordinary items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Cumulative effect -changes in accounting principles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Net income .............................................................
Earnings per share. primary ............................. . . . . . . . . . . . . . . . . . . .
Earnings per share - fully diluted. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amounts inapplicable or not disclosed as a separate line on the Statement of Financial Position or Results of
Operations are reported as 0 herein.
18
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Information
Management
Resources
Salish K. Santin
President & CEO
December 18, 1997
City Officials
. City of Cleanvater
City Hall
Clearwater, Florida
Re: Request For Proposal Due January 5, 1998
Gentlemen:
This letter will serve to inform you that my company has appointed Justice Corporation
as our developer of record for the proposed headquarters complex which we plan to construct on
the above site. We have also appointed Mr. Albert N. Justice as our agent in the conduct of such
discussions as may be necessary in furthering this objective.
S incerel y,
sJ~
Satish K. Sana
President & CEO
Information Management Resources, Inc.
26750 U.S. HighwaV 19 North
Suite 500
Clearwater, Florida
33761
Tel: (813) 797.7080
Fax: (813) 791.8152
s:\L \corp\Di ree Itr.doc
INFORMA'TION MANAGEMENT RESOURCES,INC.
REAL ESTATE
.
! : Number of EmDIOYee&
SQ\Jate Rent << C.DilIl I full
Facility Loc.lion F ootlI...Qe J Own I ,Investment 0 Cunent , ~~cb'
I
I , , I
IMR.US . Clell\lWdtf . 24.000 Rem 200.000 150 190
FL
Sales oft'lce:
. Bolton. MA 2.000 Red 5 8
ChatK). tl 2.000 Rent 5 8
Oa~s TX 2.000 Ren' 5 8
IMR.lnci& i 56.000 Rtnt 1.ClCO.OOO 641 750
BambIlV. 30 000 Dvm I I 3.000.000 168 <475
Delhi, <<mill 30,000 Own 00 2,000.000 0 475
IMR.United IGnodom ~m. 12.500 Rent c 30').000 80 100
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IMR PROJECT ORGANIZATION
DEVELOPMENT & DESIGN GROUP
JANUARY 1998
Developer:
Project Architect:
Urban Design and ,
Master Planning:
Site, Civil Engineer:
Mechanical Systems Engineer:
. Electrical Systems Engineer:
Construction + Cost Consultant:
Justice Corporation
Clearwater, Florida
Aude, Shand & Williams, Inc., AlA
Clearwater, Florida
David Conner & Associates
. Tampa, Florida
Florida Design Consultants
Clearwater, Florida
Design Professionals, Inc.
Tampa, Florida
M.P. Spychala
Safety Harbor, Florida
Dee Construction
Longwood, Florida
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Project Design Group
IMR Corporate Center
ARCHITECT:
Aude, Shand & Williams, Inc., AlA
Clearwater, Florida
Aude, Shand & Williams is a Clearwater based architectural and
interior design firm serving corporate clients throughout Tampa
Bay. Clients include: Bic Corporation, Metal Industries, Florida
Department of Revenue, lincare Inc., and Clearwater
Cardiovascular Consultants.
Project Architect, Robert Aude. AlA, will direct the IMR project
design team and organize conceptual planning for the
development. His previous local design projects include Arbor
Shoreline Office Park, Clearwater, City Center in downtown St.
Petersburg, E-Systems Engineering Administration Bu:lding, and
Lakewood Center for Advanced Technology in St. Petersburg.
LANDSCAPE ARCHITECTURE
MASTER PLANNING
URBAN DESIGN:
David Conner & Associates
Tampa, Florida
With significant experience in large scale urban design, David
Conner will cola borate on master planning and urban design for
the IMR development.
As director of landscape for a national design firm, his Tampa Bay
project experience includes the Ice Palace, Tampa Convention
Center, Pinellas Criminal Courts Complex, and U.S. Federal Courts
Facility in Tampa. Mr. Conner has formidable experience in master
planning, street scape, waterfront design, plazas, courtyard design,
and mixed use corporate facilities.
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ENGINEERING:
STRUCTURAL
ENGINEERING:
MECHANICAL
ENGINEERING:
Florida Design Consultants
Clearwater, Florida
Directed by Mr. Ed. Mazur, Florida Design Consultants is a
Clearwater based Civil Engineering firm with extensive
development expertise throughout Tampa Bay. Areas of
substantial experience include drainage, utilities, master land
planning & transportation planning.
Area clients and projects include Park Place, Morton Plant
Hospital" Jabil Circuits, and currently redevelopment of the
Sunshine Mall Property in Clearwater.
McCarthy and Associates. Inc.
Clearw'ater, Florida
McCarthy and Associates is a Clearwater based structural firm with
a statewide practice in large scale corporate and commercial
structures. Mr. Michael McCarthy, P.E. will perform principal
design services for IMR's three phase development. His record of
local projects include structures for Florida Power, Danka
Corporation, PinelJas County Technical Services, and Belleair
Oaks Office Building.
The Project Architect and McCarthy and Associates have
collaborated on numerous projects for over 25 years, including
Arbor Shoreline Office Park, City Center, St. Petersburg and
others.
Engineering Professionals, Inc.
Tampa, Florida
Design of high technology mechanical systems and energy
management systems is an important requirement for IMR
corporate facilities.
Mr. Gary Stenlund, P.E. will direct HVAC systems design for the
IMR project. His firm brings extensive experience to major
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ELECTRICAL
ENGINEERING:
CONSTRUCTION
AND COST
CONSULTANT:
corporate facilities planning. Local project experience includes Bic
Corporation, Tech Data Corporation and Bardmoor Office Building.
M.P. Spychala & Associates
Safety Harbor, Florida
The IMR project will require enhanced electrical and UPS systems
to support its operation. M.P. Spychala and Associates will
perform comprehensive electrical design for the project, including
pO\Ner, lighting, data, communications, fire protection, and vital
UPS systems.
Mr. M.P. Spychala will direct and coordinate these systems in
collaboration with the Architect and Mechanical Engineer. Local
project experience of this firm includes clients such as Square 0
Corporation, A.C. Nielsen, Jabil Circuit, and State Farm Insurance
Company.
Dee Constructors, Inc.
To support the design team, an experienced construction firm will
provide cost and market data throughout the planning process.
Dee Constructors, Inc., under John A. Jones, will provide this
services to the design giOUp.
Dee is a statewide general contractor with considerable Tampa
Bay experience including Mel Headquarters, St. Petersburg, &
Austin Center, Tampa.
"
.
ALBERT N. JUSTICE, CPM, eRE
President
Justice Corporation
19329 u.s. 19 North
Suite 100
Clearwater, Florida 33764
(813) 531-4600
Albert N. Justice, CPM (Certified Property Manager), CRE (Counselor of Real
Estate), 59, is President of Justice Corporation, Clearwater, Florida. During
his 37 years in conunercial real estate he has specialized in the leasing,
development, management, brokerage and consulting for office buildings and
other commercial properties. Mr. Justice served as President of the
Richmond, Virginia, Board of Realtors in 1972 and as National President of
the Institute of Real Estate Management in 1975. He has conducted courses
and seminars on office buildings in every major city in the United states and
Canada since 1968. During his career, he has developed 35 office projects,
most for national and international corporations.
One of his developments, the Arbor Office Park in Clearwater, was selected by
the American Institut~ of Architects as the outstanding project developed in
the Florida Caribbean region for the period 1970 - 1975. The project was
also honored as the outstanding landscaped project in the State of Florida in
1975. A companion project, Arbor Shoreline Office Center, was selected as
the outstanding landscaped project in Florida in 1982.
He is also a qualified expert witness in both state and federal courts on
matters related to office buildings and the property management field. He
has authored a number of articles and technical papers in the property
management field and prepared a copyrighted seminar on the subject of
"Leasing and Management of Office Buildings", which has been presented
throughout the U.s. and Canada. He is a co-author of IREM's Course 302,
"Managing the Office Building."
In 1983 he served as Chairman of the Committee of 100 of Pinellas County, an
organization of businessmen committed to economic development. He served on
the Board of Directors of Sun Ba,nk-Suncoast from 1980 - 1983. He was
appointed by Governor Graham to serve on Florida's Task Force for Corporate
Headquarters Relocation. He has served on the Board of Directors and
Executi ve Cornmi ttee of Anclote Manor Psychiatric Hospital, Tarpon Springs,
Florida. He also has served as Chairman of the Board of Trustees of Florida
Infol~ed Parents for Drug Free Youth. He served on the Board of Directors of
the Clearwater Chamber of Commerce.
His firm currently operates commercial properties for corporate and
institutional clients throughout Florida. He also serves as a consultant to
financial institutions and corporations throughout the United States. Some
of his recent consulting clients have included the City of Clearwater,
Operation PAR, Mellon Bank and Fleet Bank.
He and his wife, Judy, reside in Belleair Beach. They have six children.
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JUSfICE
CORPORATION
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BIOGRAPHICAL INFORMATION
ALBERT N. JUSTICE
Date of Birth:
May 29, 1938
19329 U.S. 19 North, Suite 100
Clearwater, Florida 33764-3156
Office Address:
Home Address:
3040 Hibiscus Drive
Belleair Beach, Florida 33786
Employment:
President of Justice Corporation, a firm
which was incorporated in Florida in 1972.
Since that date, the company has
specialized in the leasing, management,
development, consulting and sale of office
and commercial properties throughout the
state. Branch offices of the company are
or have been located in the following
cities: Tampa, St. Petersburg, Clearwater,
Sarasota, Fort Myers, New Port Richey,
Lakeland, Largo, Orlando, Palm Beach, and
West Palm Beach. The firm is designated
by the Institute of Real Estate Management
as an Accredited Management Organization.
Professional
Designations:
CPM (Certified Property Manager), CRE
(Counselor of Real Estate) . CPM
designation was awarded in 1966. The CRE
designation was awarded in 1977.
Professional
Memberships:
National Association of Realtors, American
Society of Real Estate Counselors,
Insti tute of Real Estate Management,
Building Owners and Managers Association,
National Association of Corporate Real
Estate Executives, International Council
of Shopping Centers, Ta~mpa Bay
Partnership, Clearwater Chamber of
Commerce.
1
19329 U.S. 19 North, Suite 100, Clearwater, Florida 33764-3156
Telephone: 813.531-4600 FAX: 813.530-4004
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Professional
Recognition:
Chairman of the Committee of 100 of
Pinellas County, Inc.; 1983, National
President of the Institute of Real Estate
Management; 1975, President of the
Richmond, Virginia Board of Realtors;
1972, Board of Directors of the National
Association of Industrial and Office
Parks; 1985/1986, National Chairman
Neighborhood Revitalization Committee of
the National Association of Realtors;
1976/1977, Board of Directors of Sun Bank
Suncoast; 1980 - 1983, Board of Directors
and Executive Committee - Anclote Manor
Psychiatric Hospital, Tarpon Springs,
Florida; 1987 to 1990, former Member of
strategic Planning Committee of the
National F..ssociation of Real tors, Iv1ernber
of Board of Directors of the National
Association of Realtors, Accredited
National Faculty of the Institute of Real
Estate Management; 1968-1981.
Published
Writings:
Institute of Real Est3te Management
National Course 302 "Leasing and
Management of Office Buildings" published
in 1968 and offered continuously
throughout the United States and Canada
(co-author) . "Property Management
Counseling" text published by American
Society of Real Estate Counselors in 1986
(Author). "Property Management" text
published by Dow-Jones Irwin in 1989
(Author). National Seminar - published by
the Institute of Real Estate Management,
ti tIe "Leasing and Management of Office
Buildings" 1976 (Author) . Numerous
articles written for professional journals
within the real estate industry.
Court-Appointed
Receiverships:
Served as court-appointed receiver for
mul ti-story, mul tiple occupancy office
buildings in the following jurisdictions
within the State of Florida during the
period 1976 1990: Tampa, Clearwater,
Pinellas County, Orange County, Orlando,
Largo, St. Petersburg.
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Expert
Wi tness :
In addition, Mr. Justice has qualified as
an expert witness in the field of office
building leasing and management and
consul ting in the Circui t Court of .
Pinellas County and in Federal Court in
Orlando, Florida and in Federal Bankruptcy
Court in Tampa, Florida. He has appeared
on behalf of clients in numerous court
cases throughout the State of Florida
since 1972.
Real Estate
Career:
Mr. Justice has been continuously active
in the commercial real estate industry
since 1959, both in Virginia, 1959-1972,
and in Florida, 1972-1997.
PROFILE
3
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K-lA..... &m...................;;....'itri '.. ',..~..' '~'(';""'" KRSllli~~ " ".' "~""'" ,"" ..i"'."A;r.....~"....'''' . ,.,' '. $10" 00':>:-- : . ';1,4.t...~.
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~ Food Technology Service Inc. VIFL Mulberry food irradiation $4.63 +429%
'Dr\...:..., "r,~11 "0". ',,' ,.'..,'..:::...:'.,..',.',;~ "P~,' .",."..~',"',...t,.,.;.'"'' ,..,,:: ",';::"l'rft'~al:,'~ ',"'<':-,',., ch "s;;.; '0 $8..38 . ',.,',' ,+' f'II'i2, tiJl,:.....~,?~,;
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'f' Aero~onic Corp. . " . 'AIM" "cfearwater''-'' "aircraft'instruments $14.00 . +2290;~~
Kellstrom,lndustries Inc.: ";: :~,,' KELLSunrise"" ,,:'.<,:engine tefUrbiStatng, $24.13 : '+1,8$~;
BFC Financial Corp. BFCFB Fort Lauderdale BankAtlantic bank $30.56 + 178%
Questron Technology:"lnc: 0 ... ':: OUST, BoCa', Raton , , ,'.''-,el8dr~tCsdlstributor $7..75 ,,>.+t7E~~~n
Group Technologies Corp. GRTK Tampa electronics manufacturing $2.75 + 175~'o ·
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;ource: Robert W, Baird & Co., Bloomberg News T1mea as
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THIS CHART APPEARED IN THE ST. PETERSBURG TIMES ON JANUARY 2, 1998.
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ARDOR ~
SHORELI~E
office center
Arbor Shoreline Office Center is
situated on Old Tampa [3ay, The
trees of the original pioneer
homestead have been
retained to enhance me wooded
environment mat surrounds the
distinctive architecture of the
buildings, Two enrries connect
Arbor Shoreline Office Center with
U.s. Highway 19. the main nOrTh-
south orrery of Pinellas County.
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In any business environment these qualities are rare, In Arbor
Shareline Office Center, they are present in abundance!
A distinctive group of modern office buildings whose award-
winning architecture lends dignity and prestige ro your business.
A beautiful narural environment. changed little from its days as
a pioneer homestead, yet twice named Florida's Mosr
Oustanding Landscaping project,
Visras of Old Tampa l3ay from your office window, framed by
magnificent oal~, This view is shared by you wirh squirrels,
raccoons and birds. the most senior of tenants.
Abundant parl~ing in convenienr, tastefully landscaped parl~ing
areas, You can wall~ from car to office through gnarled trees on
a rustic wooden bridge, Undercover parl~ing is available in
Phases I and III.
The core and attention to derail by Jusrice Corporation in the
development of Arbor Shoreline Office Center is evident in
every aspect, The reputarion for quality thar Arbor Shoreline has
earned will lend prestige to the presence of your firm in rhis
outstanding office cenrer - truly Florida's finest office center.
A Distinctive Combination Of Rare Qualities
In Florida's Finest Office Center
Conrrasts: A waTerfall
splashing into a tree.
shaded pond, A rooftop
he-liporT, Shorebirds
greeting me sunrise, The
burble of fountains and a
magnificent sculpture in
me- plaza, Zoned climate
conrrol. All of mis, and
more, con be found at
Arbor Shorel ine Office
Center, You owe it TO The
future of your business to
see Arbor Shoreline today!
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Outstanding Location In The Heart
Of Florida's Fastest Gro\^ling Market
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GULF OF MEXICO
ARBOR ~
SHOR€L1~E
office center
Arbor Shoreline Office Center is just 20 minutes' drive
from Tampa Internorional Airport. acclaimed as the
world's finesr, Ir is conveniently locared to downtown
Clearwater, St, Petersburg and Tampa via nearby
Route 60 or the I ntersrate System, Thanl~ to its central
location, Arbor Shoreline Office Center combines the
leisurely lifestyle of Pinelias Counry with the business
convenience of the Tampa Day area,
L~lI JUsrlCE
~ CORPORATION
The Office Space ProfeSSionals
Arbor Shoreline Office Cenrer
19.329 U.5 19 Norrh
Cleorworer, Florida 34624
Telephone (813) 5J1-4600
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ARDOR~<{
SHORELINE
offi ce pari"
NOM? Leasing
Phase III Of
Florida's Finest
Office Park
Phase /11 of Arbor Shoreline o.Oicc Park. consists oJlwoJivc-
story office towers located belween u.s. HigJ1\vay /9 and Old
Tampa B{~V in Cleanvater, Florida, The view oJ the model (left)
shows the Phase /II bllildings in the left joregrollnd. To the
rear is Arbor Shoreline Office Park. Phase JJ and to the right is
Arbor Office Park.
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Arbor Shoreline Office Park is one of the major success stories in Florida office
building development. The first phase of the project, Arbor Office Park, was the
winner of the American Institute of Architects competition and was nalned the
Florida-Caribbean District's "Outstanding Commercial Building Design in Five
Years" by the AlA. Arbor Office Park was also selected as the "Best Landscaped
Project in Florida" by the Florida Nurserynlen and Growers Association, an award
that was won again seven years later by Arbor Shoreline Office Park. These award
winning office parks offer their tenants a rare blend of distinctive architecture,
business convenience and peaceful natural environment. Justice Corporation, the
developer of these outstanding office parks, has created a tradition of matching the
business needs of tenants with an ongoing concern for preservation of the natural
environment. phase III of Arbor Shoreline Office Park, nestled in a grove of ancient
oaks and pines, will continue that tradition.
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Arbor Shoreline Office Park phase III is located at
19311-17 U.s. 19 North, one mile south of Route 60
in Clearwater. Tampa International Airport is only a
20 minute drive.
Arbor Shoreline Office Park Phase III consists of two
five-stOlY tower buildings with a total of 132,000
square feet of office space. Each building is served by
twin elevators.
The buildings are linked by a raised plaza surrounded
by oaks and pines. Attractive landscaping and
benches create an inviting environment for the use of
visitors and tenants.
Card-controlled undercover parking is available for 64
cars.
Direct traffic light access to U.5, 19..
A total of 524 vehicles can be accommodated in
beautifully landscaped parking areas.
Access is conveniently available among all three
Arbor Shoreline office complexes.
Reflective dual solar glass curtain walls ensure
privacy and year-around comfort.
Each office area is served by computer-controlled
heating, ventilation and air conditioning.
Express Mail and private delivery service pickup
stations are located within Arbor Shoreline Office
Park Phase III
Due to controlled preservation of the natural
environment, Arbor Shoreline Office Park Phase III
abounds with birds and wildlife, creating a peaceful,
relaxing setting for your employees and visitors.
Arbor Shoreline Office Park Phase III enjoys the
reputation and dignity of Arbor Shoreline Office Park
and Arbor Office Park, providing your business with a
high degree of visibility and prestige.
Arbor Shoreline Office Park Phase 111 is developed by
Justice Corporation. Justice Corporation's on-site
leasing, management and maintenance staff works
daily to anticipate and solve your office problems,
freeing you to concentrate on the success of your
business.
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l~~ JUsrlCE
~ CORPORATION
Commercial Real Estate Professionals
19329 u.s. 19 North
ClealWater, Florida 34624
Telephone: (813) 531-4600
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Facilities Manager
Profit From Our
State-wide Experience
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Since 1972
Justice Corporation
has operated through-
all t Florida in every
aspect of commercial
real estate: leasing. man-
agement. brokerage. con-
sulting and development,
,\IFI.BOI.'IU\E;
Ctll/.'(,II'UI' S/.J()PPill~ e(,lIlel'
PAL\l IIE:\(lI:
Plaza (.j'II1,'I'
Specializing in the leasing and
management of commercial
properties. Justice Corporation
has established a reputation for
the timely achievement of client's
objectives,
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CorporCl((' S'II/are
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Flu,.,da Fed/'ral JI/lildill~
SAHASOT A,
.~//I(,IKIIII !Jl/s//leSS CI'n1cr
Olle SII/'{/snta 1',,1/'"''
"('EST PAL\l BEAU I;
FlJnIlIllll
FORT L-\I'DFHIHLE
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IT, \IYERS
Srlllris(' qOke 0.'/11('1'
Our long experience in the turn
around of troubled properties through-
out Florida gi\'es LIS the ability to resolve
your property','; most critical problems,
Justice Corporation's team of experienced
professionals is ready to meet any commer-
cial propertr challenge, \'?e would appreciate
an opportunity to get results for you,
,..---
Arbor Shoreline Office Center
19329 U,S. 19 North
Cleanvater, Florida 34624
Telephone: (813) 531-4600
Florida Toll-Free (HOO) 226-4226
Management. Leasing 0 Consulting. Brokerage. Development
(") V~ (""
"
BLACK'S
FALLlWINTER 1991.92
" '\, ,.' I, \ ,~' I \' I \ I I I,' I ' .. . "", .
BROKER/TENANT
GUIDE
To the Greater Tampa Bay
And Southwest Florida
OFFICE MARKETS
" " '.1, , " I" \\/. .-* \~,I'. \; I\~'~J ,'I" \\ .\ ~\ ;, , "/,'
The Complete Guide To Planning, Budgeting & Selecting Office Space
II.
..
LANDMARK CENTRE
OPE~ SPHI~G 1992
IJt'\I'lol'".t1 by TIll' LUllfh/lurk" (;J'CI\II'.
A joint WIIIlHI' of TIlt' LII/llI 1II11..k, (;..11111"
C"Uit'r EIII,'rprisl's. ullll 'lhlt'IIl'I"' ImllrUllt'f'Ullf1 :\Illlllit~ .'\!"od~llioll.
t
THE OFFICE SPACE
PROFESSIONALS
. . . II
ince 1972 justice Corporation has
operated throughout Florida in
every aspect oj commercial real
estate; leasing, management,
brokerage, consulting and development.
Specializing in the leasing and manage-
ment of office bu ildings, justice
Corporation has established a reputatiOYl
for tbe timely achievement of client's
objectiues. justice C01poration 's attention
to detail is part of an operating philosoph)'
which enables us to achieve the highest
possible return Jor each building owner's
investment.
This brochure provides Cl swnnw1Jl C!! the
COl'nmercial selvices provided by justice
Corporation, as well as a partialUst of
clients and propel1ies, After reviewing this
maten'aI, we think you wil/understand
how we earned ollr title:
The Office Space Professionals.
ustice Corporation is an
Accredited lHanagement
Organization (AMOJ of the
Institute of Real Estate
Management. \Ve are
committed to the bighest
standard of excellence and
offer a level of profession-
alism in tbe commercial
real estate industry which is
unique in Florida.
...
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-- .
~~
Be/ow - Aerial view oj Arbor Shoreline Office Park
G~~~~~
The Office Space Professionals
CONSULTING
. . II .
he designation CRE
(Counselor of Real Estate) is
held by fewer than 1.000 real
estate prof~ssionals in the
u.s, This designation. was awarded
to A. I\. Justice in 1977, Justke
Corporation performs a \'\'ide \"ariety
of consulting activities for clients.
These consulting acti\'ities include:
market and feasibility studies. asset
management surveys. turn-around
programs for troubled properties,
development/design consulting for
new office facilities. due diligence
reports for acquisitions and real
estate tax reduction appeals.
ASSET
MANAGEMENT
. . . .
urrently managing more
than 2.500.000 square feet
of office space in se\'en
Florida cities. Justice
Corporation has a solid track record
of accomplishments in the asset
management field.
Asset management is not a sideline
with us. It is the heart of our busi-
ness, A combination of hands-on
physical management supported by
a fully computerized fiscal manage-
ment system insures our clients close
control of both of these critical
functions,
COMMERCIAL
BROKERAGE
III . . .
ustice Corporation selectively
brokers the disposition of major
commercial properties, National
contacts and relationships with
major corporations and institu-
tions developed over the years
enable us to effecti\"ely market your
commercial property,
Using our market knowledge and
investment net\'\"orks. aided by our
brokers who have achieved the
CCIM (Certified Commercial Invest-
ment Member) designation, we are
able to obtain the desired results for
our clients. In these challenging
times. Justice Corporation is ready to
perform for you.
Our long experience in the turn-
around of troubled properties gives
us the ability to resolve your
property's most critical problems.
DEVELOPMENT
. II . .
ur (k~\'elopment expertise
and concern for the
environment came about as
a result of .34 new office
developments. from 20.000 to 2':;2.000
square feet and from one to 21 stories,
\vhich we have completed during the
last 30 years,
Arbor Office Center and its companion
project. Arbor Shoreline Office Park. are
dramatic proof of Justice Corporation's
commitment to excellence. These pro-
jects earned Justice Corporation an
A,LA. ~l\\'ard for the most out.standing
development in the central Florida
region. as \vell as two Florida Kursery-
men and Growers Association awards
for best landscaped projects in the state
of Florida in 197~ and in 1982.
In all our development acti\'ilies. we are
committed to the protection of our en\'i-
ronment. At Justice Corporation we
know that Florida's future depends on
the wise use of our land and natural
resources.
TALLAHASSEE:
Florida Federal Bllildil1~
~E\\' PORT RlCH
;\,C\'/J Blli/a
HOLID
Bamell Bmlk BuU,
CLEARWA'
Ar/1or Shoreline Office i
Cross Bayou Commerce Ci
T.-\.\
Tampa C0111/1
Corporate ~<t.
1.
nonda Feder,
ST I
BCl)frrm/ TotH,
Horida FI.'i
..111/.
he chart of leasing accom-
plishments attached clearly
demonstrates Justice
Corporation's leasing expertise,
Marketing requirements are tailored to fit
the character of each property as well as
prevailing market conditions.
Aggressive follow-up programs are imple-
mented after initial prospect contacts. Our
leasing responsibility is total, from first
contact through occupancy.
,
i'
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CONSTRUCTION
MANAGEMENT
. II III II
JACKSO~ YILLE:
f'lorida Federal Blii/dill~
13anU'1/ Balik Buildill~
ustice Corporation has a wide
range of experience in perform-
ing in the roles of owner-devel-
oper. joint-venture partner,
development consultant, and as
agent for institutional owners.
DA y"TO:'\A BEACH:
First Federal Blti/dill~
Flon"da Federal Buildill/-?
OJ{LA~DO:
Maitland Colonnades
Airpol1 Business Cellter
Flurida .\ledical Clinic
Through efficient management of the
construction of office space. we save
owners substantial sums without
sacrificing high standards of interior
finish. By being responsible for the
construction of all tenant improve-
ments in our buildings, we deliver
,
space on time and within budget.
PAL~1 BEACH:
Plaza Center
'WEST PALM BEACH:
Fonmllll
FORT LAUDERDALE:
Citr CeHter
SU;I Balik Buildillg
MIAMI:
^'CNB Building
D()lt~/as E11Ira1lce
\:
'r
or
.IYERS:
Ce/lter
LEASING
. II D .
As ranked by Tampa Bay Business
Journal. Justice Corporation is the largest
commercial real estate agency headquart-
ered in Pinellas County (Clearwater and
St. Petersburg>, W'e have achieved an
enviable leasing record in the commercial
t't" ,...... P" 1. f;..l 1 ; ,.... J"'I, ,t'i, I I
J.'.'
,. . '. 1_ J '., "
ALBERT N. JUSTICE
lbert N, Justice, CPM (Certified Property
Manager). CRE (Counselor of Real Estate).
is President of Justice Corporation,
Clearwater, Florida. with branch offices
in seven cities throughout Florida,
During his three decades in commercial real estate he
has specialized in the leasing. development and
management of office buildings. creating 34 new
office projects during that time,
Mr. Justice served as President of the Richmond.
Virginia, Board of Realtors in 1972, In 1975. Justice
served as National President of the Institute of Real
Estate Management. He has conducted courses and
seminars on office buildings in every major city in the
United States and Canada since 1968, Justice is a
member of the American Society of Real Estate
Counselors, one of only 920 in the United States.
Regarded as one of his finest developments. Arbor
Shoreline Office Park in Clearwater, Florida, is Justice
Corporation's headquarters. The development won
statewide awards for its landscaping and was selected
by the American Institute of Architects as the
outstanding project developed in the central Florida
area in the period 1970-1975.
. . . .
In 1983, Justice served as Chairman of the Committee
of 100. of Pinellas County. an organization of
businessmen committed to economic development.
Mr, Justice was appointed by Governor Graham to
serve on Florida's Task Force for Corporate
Headquarters Relocation, He served on the board of
directors of Sun Bank Suncoast in 1980-1983. He
continued to demonstrate his concern for Florida
when he served as Chairman of the Board of Trustees
of Florida Informed Parents for Drug Free Youth
during 1987-1988,
Mr, Justice has served as a court-appointed receiver.for
commercial properties in foreclosure on more than a
dozen occasions in several Florida jurisdictions. He is
also a qualified expert witness in both state and feder-
al courts on matters related to the property manage-
ment field, He has authored a number of articles and
technical papers in the property management field and
prepared a copy-righted seminar on the suhject of
"Leasing and Management of Office Buildings", which
has been presented throughout the U.S, and Canada.
Justice serves as a consultant to financial institutions
and corporations throughout the United States. as well
as foreign investors from arollnd the world,
Justice Cotporation s team of experienced prqfessionals is
ready to 1neet any c01nlnercial property challenge. We
would appreciate an oppo11unity to get resultsforyou.
',,, , I \. ~ I , ' \ \ " ',,", ." ., " ~ .' ,~ " \ /, I J - h
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REFERENCES
l
1
i
t
i
I
I
!
I
! ,
Mr. John F. Brandstatter,
Vice Pre.....ident
Mellon Bank, N .A,
4850 One Mellon Bank Center
Pittshurgh. PA 15258
(412) 234-6323
Mr. Richard Russell,
Vice President
Phoenix Mutual Life Insurance Company
One American Row
Hartford. CT 06115
(203) 275-5315
Mr. Richard D, Jordan.
Chief Credit Policy E:\:eclltil'e
Barnett Sank
50 Nonh Laura
Jacksonville, FL 32202
(904) 791-5299
Mr. Charle~ Breheim,
Investment Officer
State Mutual Life Assurance Company
440 Lincoln Street
\V'orcesrer. MA 01650
(508) 855-3462
Mr. Kevin Fannon.
Senior Vice President
NCNB Bank
400 North Ashley Drive
Tampa, FL 33602
(813) 224-5603
Mr. Warren Fink.
iHanaging Director
Jones Lang \Vootton Realty Advisors
101 East 52nd Street
New York, NY 10022
(212) R36-9670
Mr. Peter Kugelman,
Senior Vice President
Sun Bank of Tampa Bay
315 East Madison Street
Tampa, FL 33602
(813) 224-2508
Mr, H. Burkley Showe,
President
Showe Companies, Inc.
1225 Dublin Road
Columbus, OH 43215
(614) 481-3416
Mr. Levie Smith,
Cbairmall
First Federal Savings & Loan
Association of Florida, Inc.
205 East Orange Street
Lakeland, FL 33802
(813) 688-6811
Mr, Phillip G, DiGennaro,
Vice President
Teachers Insurance & Annuity
Association of America
730 Third Avenue
New York, NY 10017
(212) 490-9000
19329 U.S. 19 North, Suite 100. Clearwater. Florida 3.i624-3156 Telephone: 813-531-4600 FAX: 813-530-4004
, ' .' ." .' " ' I' 'r t .,,: I,. \ ~. .' .t', . :'.~ . ' , \' '
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CHART OF LEASING
ACCOMPLISHMENTS % OCCUPANCY
. . . FL % OCCUPANCY AT CONCLUSION
AT TIME OF OF JUSTICE
JUSTICE CORPORATION
SQJJARE CORPORATION LEASING
FEET TAKEOVER PROGRAM
T Y ....
ARBOR OFFICE CENTER, CLEARWATER 85,000 0 96
ARBOR SHORELINE OFFICE CENTER, CLEARWATER 152,000 0 97
CAUSEWAY OFFICE CENTER, CLEARWATER 30,000 43 94
TURTIE CREEK, CLEARWATER 100,000 61 95
SUNCOAST VILLAGE OFFICE CENTER, ST. PETERSBURG 75,000 38 93
FLORIDA FEDERAL, ST, PETERSBURG 50,000 82 100
ROYAL TRUST TOWER, ST. PETERSBURG 40,000 0 100
BAY WEST OFFICE CENTER, ST. PETERSBURG 35,000 76 92
LANDMARK UNION TRUST, ST. PETERSBURG 10.000 0 100
TAMPA BAY OFFICE CENTER, TAMPA 35,000 34 91
MERCURY MOTOR EXPRESS BUILDING, TAJv1PA 50,000 53 98
FLORIDA FEDERAL, TAMPA 30,000 50 100
CENTURY PARK, TAMPA 60,000 48 76
CORPORATE SQUARE, TAMPA 120,000 23 94
TA...\1PA MEDICAL TO\VER, TAMPA 116,000 0 65
TAMPA COMMONS, TAMPA 250,000 76 89
UNIVERSITY PROFESSIONAL CENTER, TAMPA 105,000 12 85
LARGO OFFICE CENTER, LARGO 50,000 5 100
LAKELAND OFFICE CENTER, LAKELAND 70.000 0 100
PAN AMERICAN BANK BUILDING, SARASOTA 60,000 50 82
LOCH I-IAVEN EXECUTIVE BUILDING, ORLANDO 50,000 48 100
FLORIDA FEDERAL, AL TAMONTE SPRINGS 35.000 50 96
LEE WORLD CENTER. ORLANDO 65,000 85 100
MAITLAND COLONNADES, ORLANDO 260,000 78 94
PLAZA CENTER, PALM BEACH 135,000 86 100
FORUM III, WEST PALM BEACH 300,000 8] 96
HOUDAY OFFICE CENTER, HOLIDAY 65,000 36 62
SUNRISE OFFICE CENTER, Ff, MYERS 55,000 0 92
ONE SARASOTA TOWER 136,000 50 82
19329 U.S. 19 North, Suite 100, Clearwater, Florida 34624-3156 Telephone: 813-531-4600 FAX: 813-530-4004
. \ \ I .. . \ ,I 1 'I' I .' \ I ,I \ \' t .\ \ " I,
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PARTIAL LIST OF LEASING &
MANAGEMENT RESPONSIBILITIES
1. ARBOR SHORELINE OFFICE PARK, CLEARWATER
2. fORTUNE SAVINGS BUILDING, CLEAR\VATER
3. LARGO OFFICE CENTER. CLEAR\X'ATER
4. TURTLE CREEK BUSINESS PARK, CLEAR\X'ATER
5, CROSS BAYOU COlvIMERCE CENTER LARGO
6. NCNB BUILDING, LARGO
7. BAYFRONT TO\VER COMMEHCIAL, ST. PETERSBURG
R CORPORATE SQUARE, TAl\H)A
9. MEMORIAL MEDICAL CENTER. TAMPA
10. SUN BANK BUILDING, TAMPA
11. TERRt\CE VILLAGE. TAMPA
12. NCNB BUILDING, NE\X' PORT RICHEY
13. FLORIDA MEDICAL CLINIC, OHLANDO
14. FLORIDA FEDERAL BUILDING, ORLANDO
15. [vlAITLAND COLONNADES, ORLANDO
16. ONE SARASOTA TO\\fER, SARASOTA
PAST RESPONSIBILITIES INCLUDE:
TAMPA COMMONS, TAMPA
CENTURY PARK, TA~IPA
FLORIDA FEDERAL BUILDING, TAMPA
TA1\'lPA MEDICAL TO\XlER, TAMPA
AIRPORT BUSINESS CENTER, ORLANDO
LEE WORLD CENTER. ORLANDO
AMERICAN BUSINESS CENTER. SARASOTA
SUNRISE OFFICE CENTER, FOHT MYERS
CAUSE\X1AY OFFICE CENTER, CLEARWATER
CLEAR\X'ATER PROFESSIONAL CENTER, CLEARWATER
FORUM III, \X1EST PALIvl BEACH
PLAZA CENTER, PALJVl BEACH
19329 U.5, 19 Nonll. Suire 100, Clearwater. Florida 3tj(}24-31,6 Telephone: 813-;3]-4600 FAX: H13-;30-4004
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Looking For
Office Space?
This
Will Help I
There are customs and
practices in the office leasing
business that can make your
search for new office space
a difficult task.
In this booklet, we will try
to eliminate the confusion.
We hope you will find it useful.
And when you're ready to talk
about office space, call us.
We're The Office Space
Professionals in Florida.
l~~ JUSTICE
.. CORPORATION
The Office Space Professionals
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Looking For
Office Space?
This Will Help!
Understanding Square Footage
Tradition holds that virtually all office space will be
priced and quoted by the square foot. The price per
square foot is quoted on an annual basis and the rent is
quoted on a monthly basis. Normally this price per
square foot includes lighting, cooling and heating,
janitorial service, normal repairs and maintenance.
If the leasing agent is asking $15.00 per square foot.
he is asking that you pay $15.00 per square foot per
year. If you are considering, for example, 800 square
feet of office space and you need to figure the cost on a
monthly basis, multiply the square feet (800) by the
price per square foot ($15.00) and divide by 12.
800 sq.ft. x $15.00 per sq. foot
12 = $1.000.00 rent per month
In most cases the square footage you rent will be
measured to the middle of the dividing walls betvleen
you and your neighbor, and up to your side of the wall
betWeen you and public areas and outside walls.
However, you may find some rates quoted on a
rentable space basis and some on a usable space
basis. Just make sure you ultimately compare all space _
on the usable quotation. that is, the space you actually
can use with no factor for public areas included.
Location
The location for your business generally is your first
consideration. Bear in mind the building's accessibility,
not only for your employees, but for your clients as well.
Also. look for proximity to restaurants, shopping
centers, airport, etc.
~
The Lease
There will be a lease... and you should welcome the
two.way protection the lease will provide.
The standard lease term runs from three to five
years. With a shorter term lease the landlord is less
likely to make changes, so don't expect improvements
to the space. A short term lease gives you and the
owner (lessor) the ability to cancel the lease more
easily. A long term lease gives you the right, as well as
obligation to your space for that specific period of time.
If you have never leased anything more complex
than a car or an apartment, the sheer bulk of the typical
commercial lease may surprise you. Most importantly,
realize that leases are written by attorneys... for
attorneys. You'll be better off and in for fewer surprises
if you take the time to have your attorney review the
lease before you sign it. EXpect the lease to contain an
escalator clause. This outlines the procedure for
annually reviewing the operating expenses of the
building and then charging each tenant on a prorata
share for costs beyond the estimate used to set the
original square foot price. The burden of increased
expenses may be offset by adjusting the square foot
price or by requiring a lump sum payment of some
fIXed percentage annually. An escalator clause may
also be tied to the Consumer Price Index. No matter
what payment system is prescribed, an escalation
clause is the rule.
What It Will Cost
Rental rates vary considerably, but four factors, when
added together, make up the quoted price per square
foot. They are: operating costs (maintenance,
insurance, cooling and heating, etc.), real estate taxes.
debt service (principal and interest), and owner' 5 return
on his equity (profit).
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Generally what you pay will depend upon what
emphasis you place on convenience, accessibility, and
your own taste. Newer buildings have high across the
board rental rates. Downtown buildings average higher
in lease rates than suburban buildings. The higher
rents for newer versus older buildings speak for
themselves. Let's then explore the justification for
asking higher rents for downtown properties than for
non.downtown properties. The explanation is rather
simple.., downtown real estate costs more to purchase
and therefore, is normally used for a multi.story
building. This adds up to higher initial investments that
must be justified by higher rents.
The following rental rate ranges are ballpark figures
and only serve to illustrate what to expect in the general
office market in Florida.
Office space below $7.50 per foot on a full-service
lease will in all probability be an unfinished older
building in an out-of-the-way location. Space at this
price is difficult to find.
For $7.50 to Sg.5O per foot don't expect to find too
many updated amenities, In this price range the owner
should not be expected to do customizing or
refinishing. The only consolation for looking at space in
this price range is that you may find a location with
improvements made by the previous tenant. But this
kind of deal is difficult to come by, so don't spend too
much time looking for it.
For $9.50 to $12.50 per foot expect an average
downtown or suburban building with some services
and special treatments. In this middle ground price
range the owner is willing to cooperate with you on your
special requirements. But keep in mind that this will
depend upn how long a lease you are willing to sign and
how elaborate your needed improvements,
$12.50 to $20.00 per square foot puts you into newer
suburban and downtown facilities. On a three year
lease you should expect tum.key (see: Raw Space,
Improved Space and Tum.Key) with full services. This
means modem, comfortable office space, the kind
your finn will be proud to occupy.
Size
i
Office buildings in most of Florida's major markets
range in overall size from 20,000 square feet to over
400,000 square feet. Most space can be leased from
300 square feet. If your needs are smaller, you should
consider looking into secretarial services that provide
one.person offices (see: Secretarial Services}. If you're
not ready for the services of an interior design
consultant, you can determine your needs with the help
of a knowledgeable rental agent. For figuring total
square footage, industry allowances run from 150 to
1 :5 square feet ~r employee. This number will vary
With the proportion of private offices to open work
areas.
. M?st building managers will help you with your
Intenor layout design needs. But be sure to explain your
needs as precisely as you can. Don't deny yourself 30
square feet if it means the difference between a closet
and a liveable work area. It will surely cost you in gripes
over the long run.
. Total a~ai~able square footage may be deceiving.
Some bUildings are more efficient than others in
providing usable space. You may be able to rent less
space in a more efficient building with a higher rental
rate than a less expensive, less efficient space and find
the montly rent the same or less.
And What Is A Full Service Building?
A ~uilding where the monthly rent includes nightly
c1eanmg services, all utilities except telephone, and full
maintenance. And competition beina the mother of
innovation, you may discover und;rcover parking,
rooftop heliport, spacious grounds and other amenities
such as lush landscaping, etc.
. Judging the quality of services is as important as it is
difficult Generally, if the building has clean, well.
maintained public areas and grounds, you won't be
disappointed once you move in. The best suggestion is
to drop in on an existing tenant and ask how life is in the
building. If you get a total malcontent, be fair... try again.
If you get two unhappy tenants, you may want to
reconsider.
Systems
.
Fast on the heels of services should corne some
discussion of systems. Your observations and the
current tenants' answers to your probing questions will
give you the truest picture of life in the building. To help
you formulate those probing questions, we supply the
following thoughts:
Ugting: You observe here. Simply judge the space
for adequate, shadow.free work light. If you are
considering unfinished space in a tum.keydeal, be sure
to look at finished space for a comparison.
Recommended lighting level is 70 foot-cand/es at desk
height.
Climate Control - HVAC: Certainly individually
controlled heating, ventilation and air<onditioning are
of paramount importance. but the thermostat on the
wall doesn't necessarily mean you have control.
Oimate control systems in large buildings are complex
almost beyond the point of understanding. The climate
control system must compensate for body heat
generated by the people in the building, outside
temperatures, heat from lighting. business machines,
even coffee pots, heat that is left even after most of the
bodies have gone home.
This means that even on the coldest days the system
will be air<onditioning (cooling) some air in the
building. Business systems are shut down after
business hours and over weekends to save energy.
Expect to pay extra for HV AC use after normal business
hours. The lessor should be willing to stipulate the extra
cost per hour as a part of your lease.
Elevators, Hallways, Entrances & Parking: Just
observe. But observe at the worst possible times:
during the noon hour. at 5:00 p.m., etc. Will your best
client spend ten minutes waiting for an elevator going
up? Will he be trampled by a flock of famished
employees in a too narrow hallway? Will he have to park
and hike to your office? Will he have to push through
trucks and carts to get to the main entrance? Will he
ride with the freight and cargo going up to your office
suite? If he does, you probably won't keep his business
in that building,
)
}
Soundproofing
Whether you're noisy or quiet. or on occasion both.
best check this out No matter where the noise comes
from. if it goes through or over a wall, chances are
someone is going to be disturbed,
These days newer offices come carpeted and that's
the first part of good sound control, both between
floors and in the office itself. Walls generally will be
insulated to stop sound and ceilings will probably be
sus~nded acoustical tile. In some offices dividing
walls only go up to the suspended or false ceiling and
not to the true ceiling slab above. Noise does penetrate
certain acoustical tile and, in some "short.wall"
versions. it can travel from neighbor to neighbor.
Interior divider wall partitions do not have to run from
floor to ceiling (slab to slab). While looking for sound
problems. ask what type of divider walls are used. A
good wall is fully insulated for sound. Insulation
material is placed between the two outer panels, the
wall either painted or wallpapered. This makes for a
good sound-conditioned wall. Insulated "snap-in" walls
are also available that do a good job of soundproofing.
If you can't look up at raw space to judge the walls,..
push up a ceiling tile next to a dividing wall (the tiles just
lie in the frames) and see what's up there,
Raw Space, Improved Space
And Turn-Key
I
.)
The price per square foot will be greatly affected by
the modifications or improvements the building owner
must make to accommodate your business.
The lowest rental rate will apply for the tenant who
elects to accept the space in totally unfinished (raw)
form and make all improvements and/or
modifications at his own expense. This is typically the
arrangement made for leasing storefront space, or
space that will be used for a specialized business
requiring special equipment or furnishings
(restaurants, data processing, etc.).
~; ~
In spite of the attractive rental prices available to a
tenant accepting space in raw condition, such leases
should be signed with the utmost caution and
understanding. Even the simplest modifications and
improvements will frequently run into four figures and
will find the tenant himself acting as general
contractor... a task few will accomplish economically.
Allowances are sometimes given to tenants by building
owners for carpeting, added wall treatments, and
special decorating.
The middle ground, that which most of us will
encounter, is improved space. Improved space -
loosely defined - is space habitable as is, if formerly
occupied by a business similar to yours or in new
buildings, if raw space is finished to the condition that is
nennal for the building.
The term "turn-key" may appear in your discussions
with the leasing agent If it does, it simply means that
the owner will make all preparations and
improvements to get you ready for business in your
new space - and he will tal<e care of cleaning, lighting,
building maintenance, janitorial service, building
insurance, property taxes on land and building - he
will take care of everything short of paying your phone
bill and moving in your furniture. The term does not
designate who will pay for the preparations. Turn-key
does suggest customizing or modifying the space to
the specifications of the tenant.
Traffic And Identity
Traffic: Commercial space rents are also affected by
the traffic passing by. Many businesses depend upon
traffic and there never seems to be enough high traffic
space to go around. Good locations are limited. It
follows that if there is high traffic, the location is very
accessible which indicates higher land cost and higher
debt service and taxes.
..
Virtually all newer office buildings are mortgaged for
an amount sufficient not only to build the building, but
also to finish the inside space to the condition assumed
to be necessary to attract "typical" office tenants. The
mortgage will allow for installation of interior walls,
doors, carpeting, closets, acousticals, HVAC, electricals
adequate for the mythical "average office tenant" If
you are "Mr. Average Tenant," then your need for
private offices within your total leased space will
correspond to the standard expected when the owner
received his mortgage. The owner expects to build "X"
feet of interior walls (and add systems to support those
divided areas) per square foot of leased space, and not
charge the tenant for such improvements beyond the
standard square foot rental rate, based on a minimum
term of lease.
If you require more than what is expected (i.e"
employment agencies needing lots of little offices),
then you will have to pay for the extras. either through a
higher square foot price for the duration of the lease or
by an initial lump sum payment when the work is
completed.
Bear in mind that however you pay it, you should pay
only for the amount of improvement you require
beyond the norm. A longer lease will help with the
negotiated costs.
Obviously if your business will adapt to office space
formerly occupied by "Mr. Average Tenant" or if you
accept space improved "on spec" (on speculation that
someone will lease it as is), you should expect to pay
the standard rental rate.
On-Site Identity: Two types of identification are of
concern: interior and exterior. Your name on the door
and lobby directory is the standard interior
identification.
A bit out of the ordinary is exterior identification. If
you own a building or rent two.thirds of a building, your
corporate symbol may possibly hang on its exterior.
Some office parks have small signs in the front yard
that list the buildings' tenants. But for the majority, you
will have to accept interior identification.
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Secretarial Services And Phone Systems
Designed with one. or two.person office tenants in
mind, various secretarial services provide everything
one would need for doing business without leasing
equipment, hiring a secretary, and leasing an office for
three years. Usually provided are dictation, telephone
answering, typing, copying equipment, metered
postage, boo~d<eeping service, notary service, mail
address service, and your own private office. Your rent
(short term) includes an answering service plus a
predetermined amount of secretarial work done each
month at no extra charge.
Services can be bought separately (i.e., dictation
service) or as they are needed (i.e., mail address
service). This arrangement is especially popular with
sales representatives and small one-person operations
where a secretary isn't needed full time.
As a company expands its business. hires more
employees, and increases its point of contact, the need
for an adequate phone system becomes critical. There
are many different phone systems available that can be
either owned or leased.
Look into the alternatives and ask for the complete
story. Work this out with your accountant as to the tax
implications.
Office Furniture
The way your operation is furnished affects
employee morale and first impressions of important
visitors. The interior should have continuity. If you go
with wooden desks and credenzas, then stay with wood
throughout You have the option, as with phone
. systems, of renting or buying. Renting sets you up
immediately with no large outlay of money. Buying
means a longer wait, but offers you a larger selection.
The Deal
From all we have said, you now know how the deals
will run - the happier you make the owner, the happier
he will make you. But the owner offering super,
unbelievable deals may be hiding deficiencies not
readily apparent or may have a lease with an escalator
clause that balloons after the first year. Once you are
moved in, it may be too expensive to pack up again;
thus you stay unhappily where you are.
On the other hand, the owner who states "we don't
give dealsr' may be able to act that way because with a
slowdown of building there is less space available and it
has turned into a seller's market. Overall, expect to pay
for what you get and get what you pay for. And that
brings us to our final point.
On Knowing What You Need
This entire exercise is a study in time'saving. Our
clients, the building owners, tell us the biggest time
waster is the prospect who doesn't know what he wants.
So think it out first. Spend some time with pencil, paper
and yardstick. Know how many offices you need, how
big they should be, how many square feet that is. what
services you require, what location, what you would like
to pay - the works. You'll save everyone's time when
you're looking and, assuming you keep your wits about
you, you should end up working in a new office with
exactly what you need to make you a happy tenant,
leasing from a happy landlord, That's what this booklet
is all about
Please keep in mind that office building
development, leasing and management is our only
business - and has been for more than twenty years.
When you're ready for office space anywhere in Florida.
let us know. We will help you make the move as
smoothly as possible.
Remember, Justice Corporation - we're the Office
Space Professionals,
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Tampa Bay
Location!
To Clearwatl3r.
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AIrport
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* Undercover parking
* Three elevators
* Prestigious location and excellent access
* Custom-designed office suites
* Full-service lease
* I mmediate occupancy
* I ncredible rates
* On-site leasing and management office
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Exclusive Leasing & Management Agents
to. ..
i~'" JUSTICE
'lIP CORPORATION
The Office Space Professionals
Century Park · Suite 300
1 000 Century Park Drive
Tampa, Florida 33607
Telephone: (813) 286-3600
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Westshore...
...And More!
Century Park
Office Center
..
Century Park Office Center offers your business outstanding
office space in one of the Tampa Bay area's most convenient
locations, Excellent access to 1-275, downtown Tampa, Pinellas
County and Tampa International Airport. Undercover parking,
Custom-designed office suites to meet your exact
requirements. Office space with full-service lease available for
immediate occupancy at incredible rates, For further
information. please contact:
tC'" JUSTICE
'W' CORPORATION
The Office Space Professionals
Century Park fI Suite 300
1000 Century Park Drive
Tampa. Florida 33607
Telephone: (813) 286-3600
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NOW LEASING
This outsTanding northeast Tampa office
'parl-<\ has been totally renovated and re-
landscaped, Corporare Square provides
your business with excellent visibility and
access to Interstate 275, the University of
South Florida and Temple Terrace.
Abundant parl<l\ing is available underthe
moss-hung oal<l\ trees. Full service leases ore
available at incredible rates for office suites
from 600- to 35,OOO-square-feet. An on-
site restaurant and other support services
add to the convenience of your Corporate
Square location. On-site leasing,
management and security.
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lC~ JUSTICE
'W CORPORATION
The Office Spa::e ProfeSSionals
7402 North 56th Street - Suite 801
Tampa, Florida 343617
Telephone: (81 3) 988-5050
.... ....
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The One
Office Building
That Gives You
The Best Of
Tampa Bay's
Growing Market
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Tampa Commons is The One office center to offer
you all the conveniences of both Westshore and
downtown,
Located in midtown Tampa at the intersection
of Kennedy Boulevard and North Dale Mabry,
Tampa Commons is just one mile from the Westshore
business district, less than four miles from Tampa
International Airport and less than three miles from
downtown, Three blocks to the north is direct
access to Interstate 275, connecting with all of
Florida's Interstate system,
Tanlpa Commons' 13 stories tower above the
midtown area, its distinctive reflective blue exterior
giving your business location immediate
recognition.
The One
Office Building
That Gives You
The Best Of
Tampa Bay's
Growing Market
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Tampa Commons is The One office center to offer
you all the conveniences of both Westshore and
downtown.
Located in midtown Tampa at the intersection
of Kennedy Boulevard and North Dale Mabry,
Tampa Commons is just one mile from the Westshore
business district, less than four miles from Tampa
International Airport and less than three miles from
downtown. Three blocks to the north is direct
access to Interstate 275, connecting with all of
Florida's Interstate system,
Tampa Commons' 13 stories tower above the
midtown area, its distinctive reflective blue exterior
giving your business location immediate
recognition.
A central location is just the beginning of the
Tampa Commons story, Convenience continues .
as you approach Tampa Commons' seven level
undercover parking garage with 1 ,024 spaces,
ali connected to the building by a covered
walkway.
The four-story atrium lobby is both imposing
and inviting, an architectural statement of
elegance in rich pewter-colored granite and
muted tones of blue. A state-of-the-art elevator
system provides Immediate access to your
desired floor.
Tampa Comnlons offers you an unmatched
working environment! Your custom-designed
office suite has sweeping floor-to-ceiling views of
America's next great city.
Tampa Commons is fully sprinklered and is
equipped with an automatic fire/life safety
system. Each office suite is equipped with
access control to provide complete security of
your workplace, .A.fter-hours access to the
building is safe and secure thanks to a card-
controlled entry system,
Finally, Tampa Commons represents the ultimate
value in office space to be found in Tampa. Your
full service lease-janitorial, maintenance of
common areas, and all utilities except phone-is
available at incredible rates. You owe it to
yourself to investigate the unique leasing
arrangements at Tampa Comrnons,
Justice Corporation-the exclusive leasing
and management agent-has an on-site office
in Suite 1000 at Tampa Commons, Please call
today for an appointment to inspect your future
office at Tampa Comn1ons, Tampa's most
convenient office location.
TAMPA
__"__.. '_0' _.u._ _ _~_.__. _'__..
COMMONS
ONE NORTH DALE MABRY
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M'litland Colonnades
was designed to create a
business environment where
working would be a pleasurable
eX1)enence,
The architecture of this
stunning 275,000 square fi)ot
office building complements its
wooded IS-acre lakeside setting.
Rose Italian granitc creates an
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atmosphere of classic warmth in
the spacious four-story double
atrillll1loblw where the
background sound is the muted
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\'isitors.:\ half-mile ofwindo\\'cd
otricc suites overlook thc 0vress-
tilled nature preser\'e that borders
Lake Lucien.
~carl\' evcr\' oftice suite at ~laitland
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Colonnades enioys either a stunning
ex1erior \'il'w or a facing \;e\\, of the
lobby atriums with luxuriant
interior foliage. Soaring oneIl
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walkways span the lobby areas,
eliminating gloomy interior
corridors.
In the central part of the lobby, a delicatessen creates
a sidewalk cafe atmosphere - perfect for an early-
morning cup of coffee or a gourmet
lunch.
Visitors to your business at
~vlaitJand Colonnades will discover
abundant parking close to the main
entrance, Y Oll and your employees
will enjoy the benefits of suburban
Orlando's only covered parking
huilding, cOIlnected to the main building by a
sheltered walkway for all-weather convenience,
Full-service office suites from as small as 1,000
square feet can be custom-designed to meet the
specific needs ofyollr business.
Justice Corporation - the Onice Space
Protessionals - is the exclusive leasing and
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an em-site office, ensuring that ever\' detail of this
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magnifkent oHlce cll\'ironment is working to
enhance the comfort and convenience of your staff
and the imal.?,c of\'ollr business to \'our clients.
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c~ JUSTICE
.. CORPORATION
The Office Space Professionals
Since 1972, Justice Corporation has served the Tampa
Bay area and the entire state of Rorida in every aspect
of commercial real estate - consulting, development,
brokerage, leasing and management.
Specializing in office buildings, Justice Corporation has
established a reputation for no. nonsense professional.
ism coupled with hands-on expertise. Justice
Corporation's attention to detail is part of an operating
philosophy which brings the property owner the highest
possible return on his investment while providing the
tenant with an excellent office space value.
This brochure provides a summary of recent
commercial real estate transactions involving Justice
Corporation, as well as a photographic listing of some
of its current leasing and management responsibilities.
THE COVER: Through the years, Justice Corporation
has earned appreciation and awards for its concern for
the natural environment. This wooded stand of ferns
exists today as part of a parking area of a Justice
Corporation office center, much as it appeared five
years ago when photographer Jim Patterson captured
this image on the undeveloped site.
l
,
Arbor Shoreline Office Center Complex
Arbor Office Center
132] U.S. ] 9 South
Clearwater, Florida 33546
"
Arbor Shoreline Office Center
] 307 U.S. 19 South
Clearwater. Florida 33546
Arbor Office Center and Arbor Shoreline Office Centers
were developed by Justice Corporation. These
properties have won numerous awards for architectural
design and environmental excellence, In 1983, Justice
Corporation served as broker for the $22.3 million sale
of the Arbor Shoreline complex to Fininvest America
Corp. Currently 100% occupied, the 237,000 square
foot complex will soon be joined by Arbor Shoreline
Office Center, Phase III. The Phase III complex will
consist of two buildings offering 125,000 square feet of
office space, available for occupancy in Autumn 1986.
Justice Corporation continues the leasing and
management responsibility for the Arbor Shoreline
complex_
Recent Transactions
The Aorida Federal Building
One Fourth Street North
St. Petersburg, Florida 33701
Justice Corporation has had the leasing and
management responsibility for this downtown St.
Petersburg building since 1984. Justice Corporation
recently served as the broker for Florida Federal
Savings & Loan Association in the $4.4 million sale of
the building to an investment group from Cleveland,
Ohio. The ten-story building has undergone a $4 million
total renovation since the sale. Justice Corporation
continues to serve the new owners as exclusive leasing
and management agent.
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Recent Transactions
Aorida Federal Center
11601 Roosevelt Boulevard
St. Petersburg, Florida
304,000 Square Feet
-
Justice Corporation served as broker for Florida
Federal Savings & Loan Association in its $11.3 million
purchase of this 304,000 square foot property from
GTE in December 1984. The building, situated on 54
acres of land, has approximately 100,000 square feet of
office space and more than 200,000 square feet of
manufacturing space. During 1985, Justice
Corporation served Florida Federal as real estate
consultant in a transaction for the lease and
subsequent acquisition of the Florida Federal Center
properly by Honeywell, Inc.
These are but three examples of the $64.8 million in
commercial brokerage transactions concluded by
Justice Corporation during the last year.
Florida National Tower
424 Central Avenue
St. Petersburg, Florida 33701
Leasing And Management
L..easing And Management
Causeway Office Center
3118 Gulf.To.Bay Boulevard
Clearwater. Florida 33519
Clearwater Professional Center
600 Bypass Road
Clearwater. Florida 33546
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Cross Bayou Office Center
11701 Belcher Road
Largo. Rorida 33540
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Florida Federal Office Center
919 West Highway 436
AJtamonte Springs. Florida 32701
NCNB Office Center
3839 Fourth Street North
St. Petersburg. Florida 33704
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Leasing And Management
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Florida Federal Office Center
402 South Kentucky Avenue
Lakeland, Florida 33802
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Florida Federal Office Center
3637 Fourth Street North
St. Petersburg, Florida 33704
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Florida Federal Office Center
202 West Bearss Avenue
Tampa, Florida 33612
Florida Federal Office Center
200 North Westshore Boulevard
Tampa, Florida 33609
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Henderson Building
4224 Henderson Boulevard
Tampa, Rorida 33629
leasing And Management
Liberty Bell Plaza
Congress & Industrial
Port Richey, Florida 33568
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Largo Office Center
2255 East Bay Drive
Clearwater, Rorida 33546
Loch Haven Executive Building
615 East Princeton Street
Orlando, Rorida 32803
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Memorial Medical Center
2919 Swann Avenue
Tampa, Florida 33609
NCNB Office Center
6014 U.S. 19
New Port Richey, Florida 33552
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AUDE. SHAND & WILLIAMS, INC.
Aude, Shand & Williams. Inc., AlA is the successor firm to founding partners dating back
to 1921 in Clearwater. The firm has established a presence throughout the State of
Florida and is recognized as an innovator in multidisciplinary design. The firm provides
services to encompass all aspects of architecture, interior architecture, interior design,
master planning, building forensic study, building condition appraisals, construction
administration, and engineering for complete new developments, additions, renovations,
and historic restoration to existing facilities. Projects have included all building types and
sizes, including governmental, corporate and retail facilities. The firm also designs
distinctive custom single family residential projects.
OFFICERS
ROBERT J. AUDE, AlA - PRINCIPAL
ARTHUR C. SHAND, U.D.A., I.A.,C.S.I., N.R.C.A.-PRINCIPAL
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1. Name of Firm
Aude, Shand & Williams, Inc., AlA
2. Location of Principal and Branch Office
Arbor Shoreline Office Park
19353 U.S. Highway 19 North, Suite 101
Clearwater, FL 34624
(No branch offices)
3. Length of Time in Business
Seventy Six (76) Years (Continuous Corporate History)
Roy Wakeling, Architect
Wakeling & Levison
Wakeling. Levison, Williams
Wakeling, Levison, Williams & Walker
Williams & Walker Architects
Williams Architects Chartered
Arthur C. Shand joined the firm in 1984
Robert J. Aude joined the firm in 1987
Aude. Shand & Williams, Inc., AlA
4.
Firm Ownership Structure
1921
1937 to 1955
1956 to 1967
1968 to 1971
1971 to 1984
1984 to 1994
1994 to Present
The firm is organized as an S-Corporation in which the officers and
ownership of the corporation is as follows:
Robert J. Aude, President 51 % Ownership
Arthur C. Shand, Vice Fresident 49% Ownership
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Annua'Volume for each of the Past Five Years
5.
Year
1997
1996
1995
1994
1993
N..QYrojects
45
45
55
14
9
~
$16,177,000
$14,420,000
$16,310,,000
$ 3,309,400
$ 7,660,000
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KEY STAfF MEMBERS
BIOGRAPHICAL BACKGROUND
Robert J. Aude, AlA
Bachelor of Architecture 1970, Ohio State University,
registered architect in Florida. Twenty five years
experience, Twenty four years resident of Clearwater,
Florida.
Arthur C. Shand, IA
Kansas State University College of Architecture, 5 year
Bachelor of Interior Architecture, 8 years experience in
construction. Active Associate Member AJ.A. and
Active Professional Member LI.D.A, C.S.1. Williams
Architects 11 years Project Manager, Standard Building
Code Congress Certified Building Inspector and
Structural Masonry and Concrete Inspector. Maintains
experience and expertise in building renovation,
forensic study, and exterior reconstruction and
waterproofing. NCIDa Certified and holds Florida
License of Interior Design. Corporate Administrator.
Construction Administrator.
Earl Roy Wardrum, AlA
Master of Architecture 1960 and Bachelor of
Architecture 1957, University of Illinois. Registered
Architect in Florida. Registered Interior Designer in
Texas and Florida. Adjunct Professor, Graduate
School of Architecture, University of South Florida.
Over 37 years experience in facility programming and
planning, detailed design and project management.
Coleen A. Fullam
Bachelor of Architecture 1993, The Catholic University
of America. 4 years professional experience with
residential and commercial design. Associate member
of American Institute of Architecture. Member of Intern
Development Program.
William Nagaj
Tampa Technical Institute, 20 years drafting
experience, Standard Building Code Congress Certified
Building Inspector, Chief Draftsman for Aude, Shand &
Williams.
Carl Struthers
st. Petersburg Junior College, Associate of Arts
(Architectural Transfer Program), 5 years drafting
experience 10 years experience in building construction
industry.
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Robert J. Aude, AlA
Education
Bachelor of Architecture, Ohio State University, 1970
Professional Licenses/Registrations
Registered Architect. State of Florida, #6859
AlA Vice President, Pinellas County Section
Experience
Twenty seven years experience; Prindle & Patrick Architects 1968-1973, Prindle, Patrick
& Partners, Ltd. 1973-1985, Vice President/Director of Design, Bell Associates, 1985-
1987, Williams Architects, Project Architect and Partner 1987-1994, 1994 to Present,
Aude, Shand & Williams, Inc.
Mr. Aude moved to Clearwater in 1973 as Florida Design Director for a 100 person AlE
firm based in Columbus, Ohio. As director, his experience involved large scale
educational, judicial, and office projects, including high rise structures. Since 1987, he has
practir,ed as partner and principal in the Clearwater based firm of Williams Architects,
culminating with formation of Aude, Shand & Williams, Inc. in 1994.
NOTABLE PROJECTS:
Arbor Shoreline Office Center, Clearwater, 133,000 SF, 5 Stories
City Center, St. Petersburg, 12 stories, 250,000 SF
Engineering Administrative Building E Systems, St. Petersburg, 105,000 SF
Master Plan 2000, University of South Florida (4 campuses)
Master Plan 2000, Florida State University, 2 campuses
Center For Advanced Technology, Lakewood High School, Pine lias County Schools
St. Brendan Catholic Church, Clearwater
SPECIAL ACTIVITIES:
City of Clearwater Code Enforcement Board 8 years, (2 years Chairman),
Commissioner, Clearwater Housing Authority.
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CAREER EXPERIENCE
Robert Aude, AlA
Aude, Shand & Williams. Inc., AlA
Career Profile: Bay Area Projects
Project Arbor Shoreline OffIce Park
Clearwater, Florida
Constructed in 1981 - 82
Size 133,000 SF
(5 buildings)
2 - 5 story,
3 - 1 story
Cost 7 Million (shell buildings & site)
1.5 Million (tenant finish)
Significant Design Features
Intensive tree preservation
landscaping & plaza elements
views of Tampa Bay
Client
Justice Corporation, Clearwater
Teachers Insurance & Annuity.
New York
References
Mr. A.N. Justice
Justice Corporation
As Project Architect
with Firm of
Prindle & Patrick
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Project
City Center
st. Petersburg, Florida
Constructed in
1984 - 85
Size
256,000 SF
12 Stories
Cost
10.5 Million (shell)
8.0 Million (tenant finish)
Significant Design Features
Five story interior landscaped atrium
with fountain.
Urban mixed use development.
Client
Wittner Companies
Developer
St. Petersburg
References
Mr. Ted Wittner, President
Mr. Lee Regulski, V.P. Development
(former Clearwater City Commissioner)
As Project Architect for
Prindle & Patrick, ltd.
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Robert AUde, AlA
Aude, Shand & Williams, Inc., AlA
Career Profile: Bay Area Projects
Project . E-Systems -
Engineering Administation
Building
St. Petersburg, Florida
Constructed in 1986 - 87
Size 105,000 SF
3 Stories
. Cost 5.4 Million (shell)
Tenant buildout nla
Significant Design Features
Precast concrete exterior facade
Bridge connections to existing research
and laboratory buildings
Client .
E..Systems
Eel Division
References
Mr. George Hansen, Vice President
As Project Architect
with Firm of
Bell Associates, P .A.
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CAREER EXPERIENCE
Robert Aude, AlA
Aude, Shand & Williams, Inc., AlA
Career Profile: Bay Area Projects
Project Master Planning
University of South Florida
Tampa, Florida
Completed in 1987
Size Five campus study
Cost $200,000 (fees)
Significant Design Features
Prepare master plan for year 2000
Recommend future building placement
Parking and transportation changes
Client
State of Florida
State University System
References
Mr. John Crosby, Architect
USF Facilities Department
As Project Architect
With Firm of
Bell Associates &
Johnson, Johnson & Roy
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Arthur C. Shand, tI.D.A., C.S.I, N.R.C.A., ASC. A.I.A.
Education
Kansas State University College of Architecture, 5 year Bachelor of Interior Architecture
Professional LicensesIRegisbaUons
N.C.I.D.Q. certified and holds Florida License of Interior Design, Standard Building Code
Congress Certified Building Inspector and Structural Masonry and Concrete Inspector.
Active professional member of Construction Specifications Institute, National Roofing
Contractors Association, Intemationallnterior Design Association, and active associate
member of the American Institute of Architects. Maintains experience and expertise in
building renovation, forensic study, exterior reconstruction and waterproofing.
Experience
Corporate Administrator. Construction Administrator. Seven years experience in general
contracting involved in the construction of over 60 building projects plus fourteen years
experience as a project manager with Williams & Walker, and Williams Architects
Chartered, became a partner with the late Donald S. Williams, FAIA and Robert J. Aude,
AlA in 1990. Continued the firm with Robert Aude, AlA as partner creating Aude, Shand
& Williams, Inc., AlA in 1994. Currently firm partner, administrator and secretary,
treasurer.
Years with Firm
Fourteen years
NOTABLE PROJECTS:
Dr. Liberato Chapa Office Building, Clearwater
Dr. Lance Cohen Office Renovation, Clearwater
Dr. Barry Haicken Office Building Largo
Time Warner Communication Customer Service Center,
Clearwater
Bic Manufacturing, Clearwater
Law Office Denis deVlaming, Clearwater
Metal Industries, Oldsmar
Bethel Lutheran Church, Clearwater
St. Alfred's Episcopal Church, Palm Harbor
Calvary Baptist Church, Clearwater
Peace Memorial Presbyterian Church, Clearwater
City of Largo Public Works Projects
City of Largo Americans with Disabilities Act
Facilities Modification Program
Tio Pepe Restaurant Addition, Clearwater
Home. Shopping Network Renovations, Clearwater
Elks Lodge, Largo
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Earl Roy Wardrum, AlA
Education
Master of Architecture, University of Illinois; Bachelor of Architecture (gun Jaud~), University of
Dlinois.
Professional LicensesIRegistrations:
Registered Architect in Florida; Certified by the National Council of Architectural Registration
Boards; Registered Interior Designer in Florida. Memberships in American Institute of Architects;
American HO~1'ital Association; American Association of Hospital Planners; American Public Health
Association.
Experience
Founding Partner and President of Gerding, Wardrum & Richards, Architects, Joliet, Dlinois, for 8
years; Vice-President and Director of Health Facilities Planning. Ellerbe Architects, St. Paul,
Minnesota, for 4 years; Principal and Director of Health Care Planning, Dalton Dalton Little
Newport, Cleveland, Ohio, for 4 years; Founding partner of Health Facilities Planning, an
Architectural firm specializing in health care facilities, for 12 years; Earl Roy Wardrum,
Architect/Consultant, specializjng in health care facilities, for last 8 years; Project Manager and Health
Care Consultant with Aude, Shand & Wllliams for last two years; Over 30 years of experience in all
phases of architectural design with extensive experience in the programming, planning and detailed
design of Commercial, Educational, Religious and Institutional buildings; Specific institutional
experience includes involvement with over 160 health care facilities.
Yean with Firm
Two year
NOTABLE PROJECfS
Medical Proiects:
Arizona
Waltcf o. BoewcIl Memorial Hospital. Sun City
Univcmty of Arizona Medical Scbool and Hospital, Tucson
California
Hospital of the Good Samaritan, Los AngclCl
Sutter Community Hospitals, Sacramento
Connecticut
Hospital oCSL RAphael. New Haven
Blue Cross HMO Medical Officea, New Haven
Florida
Mcuc Hospital and Clinic, Dunedin
Clearwater Cardiology Consultants, Clearwater
Cardiovascular Surgical Asaociatca, Clearwater
Tampa Emergency Vctcrlnary Clinic, Tampa
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Landscape Architecture
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David Conner & Associates
LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
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FIRM PROFILE
Jamtary, 1997 .. Landscape architect, David Conner, starts his
own planning, landscape architectural and constrnction
TTUlnagement firm, David Conner & Associates, Inc. (OCA).
David Conner is recognized in Central and South Florida for his
work on such notable projects as the lee Palace Arena and TamtJa
Corwenti(m Center in Tampa; Orange County Conventi(m
Center in Orlando; Main Street Streetscape in Safety Harbor;
and the PineUas County Criminal Courts Complex in Cleanuater,
to mention a few.
David Conner & A<isociates prOtJides the fuU extent of site and
land planning, landscape architecture and site construction
management services for commercial, residential and municipal
projects. Scope of services include land development planning,
landscape architecture, urban and streetscape design, community
camerous building, and corotTUction management. OCA satisfies
a niche market following a project from its initial concept stage
through design and construction. This process provides a client
with a closely monitored quality project completed in a timely and
cost efficient way,
In his thirteen years of experience in Florida, David Conner has
gained a reputation fOT providing creative and award winning
landscape architectural design solutions, His experience includes
urban plazas, streetscape d.esign, convention centers, judicial
centers, office buildings, residential projects, golf course
development, mixed,use developments, parks and recreation
complexes. Previous positions held by David Conner include
DirectD1' of Landscape Architecture for Hellmuth, Obata and
Kassabaum and Re-vnolds, Smith and Hills and as Vice President
of Landscape Architecture for Sylla, Inc, All three companies are
architects and/or engineers.
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David Conner & Associates
LANDSCAPE A RCHI1T:C1URE
CONSTRUC110N MANAGF..MENT
RESUME
DAVID R. CONNER, ASLA
PRESIDENT
EDUCATION
Bachelor oflondscape Architecture, Kansas State University, 1984
REGIS'IRA nONS & AFFILIA nONS
Registered Landscape Architect, State of Florida (#1372)
Registered Landscape Architect, State of Kansas (#436)
Member, American Society of Landscape Architects
Member, Urban Land Institute
EXPERIENCE
In his thirteen years of experience in Florida, Mr. Conner has gained a reputation for
providing creative and award winning landscape architectural design solutions within
the constraints of the projects. His experience includes urban plazas, strectscapes,
convention centers, judicial centers, office buildings, mixed, use developments, and
parks and recreation complexes. In his role as president of the (inn, Mr. OJnner
directs the design and management of all projects worked on by the firm. The
following is a listing of past projects:
. Ice Palace Arena, Tampa, Florida
. Brookside Development, \X' esley Chapel, Florida
. Dr. Martin Luther King Plaza, University of South Florida, Tampa, Florida
. Safety Harbor Downtown Streetscape, Safety Harbor, Honda
. Florida State Fairgrounds, Tampa, Florida
. Tampa, Convention Center, Tampa, Florida
. Amberly Drive Streetscape, Tampa Palms CDD, Tampa, Florida
~ PineUas Count)' Criminal Courts Complex, Clearwater, Florida
. Suncoast Parkway, Section 2, Pasco County, Florida
. Orange County Convention/Civic Center, Orlando, Florida
. Lake County Criminal Courts Complex, Tavares, Florida
. Academic Research Building, University of Florida, GainseviUe, Florida
. Edison Community College, Charlotte Count)', Florida
. Anchin Center and Education Building, University of South Florida
. Museum of Natural History, University of Floridat Gainseville, Florida
. Leach Park, PineUas County, Florida
. Golden Ocalat Ocala, Florida
14906 Winding Creek Court, Suitl' 1040, Tampa, Florida 33613-1627 phone: (813) 960,5503 fax: (813) 960-4677
David Conner & Associates
LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
RESUME
HUNTER A. BOOTH
LANDSCAPE ARemmCT
EDUCATION
Bachelor of Science, Landscape Architecture, University of Florida, 1995
EXPERIENCE
Mr. Booth has experience in high end estate design, resort and commercial work. He
has completed detailed work specializing in the design of hardscape and softscape
elements such os : custom water features, pools, terraces, various garden ornaments,
paving, sculpture, etc. In addition, Hunter is proficient in the following computer
programs: LandCAD, Site Designer, Spreadsheets, Desktop Publishing, Internet and
E~mail file transfers and Image Manipulation. Mr. Booths has been involved with the
following notable projects:
~ Village ofVeneitian Bay, Naples, Florida
~ Northern Trost Bank, Naples, Florida
~ Port of the Islands Resort, Naples, Florida
~ Naples Cay, Naples, Florida
~ Quail Creek Commons, Naples, Florida
14906 Winding Creek Court, Suite 1040, Tampa, Florida 33613.1627 phmu: (813) 960.5503 fax: (813) 960.4677
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LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
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PHILOSOPHY
David Conner and Associates is committed to
providing the highest level of design and personal
service for solving today's complex environmental and
development challenges. David Conner and
Associate's Pumners, Larulscape Architects, Urban
Designers and Construction managers are skilled in the
design and construction of outdoor environments for
private or public use.
Our practice is founded on the philosophy that no two
projects are aUke, and that each project must evolve
through a process of thorough evaluation of existing
conditions and thoughtful interpretation of client goals.
We recognize the fragile nature of our environment
and provide solutions which preserve arul enhance the
outdoor surroundings. We understand the necessity oj
growth and development and seek to find solutions
which serve the short and long~tenn economic needs of
our clients.
We invite you
outlining our
architecture,
management.
to review the following information
experience in planning, landscape
urban design and construction
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CONSTRUCTION MANAGEMENT
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SCOPE OF SERVICES
PLANNING
Guiding short and long-term development
through the understanding of physical,
economic and regulatory influences.
!t.uJ,we planning
c~ planning
irrigation design
Waf", fUJt1lru (I
fUUnlairu
plannirrg des ign
JporlJ & t'Cc, JacJ.itit.s
fllatcu
strut /UmishirrgJ
Jile design
toning p-ropoJaLs
Jite analYJis
lTlI1S!er planning
fecuibilily J!wiit.s
Jite u1ection
".Idflower plmuing
Jidtudk imf1rwmuTlU
urban forulry
uanne parb
J;grwge & graphia
urban rmewd
itllerpretive parb
_r/CI1ul rniligat ion
residtnlia! planning
roadwa;y plmuing
&ufl"' plmuin&
IaruLscape ruloratioll
~ingconcepu
design gwiddinc.s
retail
public art
comrnunit) worhhopJ
urban parb
watrrfroru dcsign
mixed-we developmnu
dt..>tlopmnu elltranc~
r~ pCl1ks
rmdrring
marketing grapJaio
computer graplaio
dcsign collaboration
Jubdivision layout
historic f1ru",,,aicn
dfl,elopmrnt planning
LANDSCAPE ARCHITECTURE
Creating outdoor spaces for human use
by the placement of plants, paving, structures,
fountains, walls, furniture and lighting.
URBAN DESIGN
R(..~ewing the public interest in our
downtown communities by providing designed
environments of comfort and security.
CONTRUCTION MANAGEMENT
Building the future through an organized approach to
cost estimation, contractor selection and negotiation,
scheduling and construction oversight.
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David Conner & Associates
LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
LANDSCAPE
ARCHITECTURE
David Conner & Associates provides
a full range of site design services
including conceptual site design,
construction drawings, technical
specifications, cost estimates and
construction administration.
Whether working directly with the
owner, developer or project architect,
we provide solutions that blend man~
made and natural environments into
safe and enjoyable places.
PUBLIC PLAZAS
W'A TER
FEATURES
SITE PlANNING
ESTATE
RESIDENCES
RESIDENTIAL
DEVELOPMENTS
ARCHITECTURAL
PROJECTS
COMMERCIAL
DEVELOPMENTS
XERISCAPE
DESIGN
lRRIGA nON
DESIGN
David Conner & Associates
LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
CONSTRUCTION
MANAGEMENT
David Conner & Associates offers
full construction management
sertlices as a means of completing our
site design and landscape
architectural project. This process
allows us to follow a project from its
initial concept stage through design
and construction. Our in, house
construction management team can
accelerate the delivery of a project.
While maintaining our high standard
of quality we offer the maximum cost
savings to our clients.
Services include cost estimating,
value engineering, contractor and
subcontractor bidding, purchasing,
scheduling, coordination and project
close,out.
RESIDENTIAL
HOMES
AND GARDENS
SITE
DEVELOPMENT
PROJECTS
COMMERCIAL
DEVELOPMENTS
David Conner & Associates
LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
PLANNING AND LAND
DEVELOPMENT
David Conner & Associates provides
both public and private clients with
land use and master planning
. services at site specific, community
and regional levels. The firm is
committed to solving complex
challenges by understanding the
environmental and regu.latory
constraints affecting a project.
Clients have come to rely on our
ability to translate ideas into
innovative solutions that are realistic
, and cost effective.
CAMPUS MASTER
PLANNING
MIXED-USE
DE\'ELOPMENT
PLANNING
COMMUNl1Y
DEVELOPMENT
URBAN
PLANNING
RESORTS
BICYCLE TRAILS
PARK MASTER
PLANNING
FAIRS AND
THEME PARKS
LAND DEVELOPMENT
CONSULTING
David Conner & Associates assists
real estate developers during the
initial stages of planning and
development, preparing du.e diligence
studies for real estate investors
assessing the feasibility of a
development project.
DUE DILIGENCE
CONSULTING
CONCEPTUAL
LAND USE PLANS
SITE ANALYSIS
lAND PLANNING
ZONING PLANS
David Conner & Associates
LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
URBAN DESIGN AND
STREETS CAPE
David Conner & Associates provides
design services for creating and
enhancing the quality of the urban
environment. Our expertise includes
the design of streetscapes, waterfront
developments, urban parks and
plazas. Special consideration is
placed on the need to involve and
receive the support of the local
community within the dynamics of
the social and l)olitical environment.
STREETSCAPE
DESIGN
'X' A TERFRONT
DESIGN
COMMUNIlY
VISION
WORKSHOPS
HISTORIC
PRESERVATION
PLANNING
DESIGN
STANDARDS AND
GUIDELINES
PLAZAS
CONCENSllS
BUILDING
David Conner & Associates
LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
PARKS AND RECREATION
David Conner & Associates
specializes in the programming,
funding, planning and design of park
and recreation facilities. Guided by
a design philosophy that listens to the
clients' needs and responds to
community input, we work to
enhance the manmade environment.
David Conner & Associates creates
projects that are within budget,
maintainable and that will attract
public use for years to come.
PARK DESIGN
SPORTS
FACILITIES
BIKEWAY
PlANNING AND
DESIGN
URBAN PARKS
AND
lX'A TERFRONTS
SITE SELECfION
STIJDIES
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David Conner & Associates
LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
TRANSPOR T A TION
. Throughout the United States new
transportation" systems are being
constructed as old roads and bridges
are being rebuilt and upgraded. At
the same time, there is growing
national insistence that this new
generation of highways provide an
aesthetic amenity to the community
in addition to meeting the
transportation needs,
David Conner has developed the
expertise to provide aesthetic
solutions for these challenging
environments. Through our past
experience with Federal, State and
local transportation projects, we have
deq)eloped a thorough understanding
of the specialized design issues for
transportation projects ~ specifically,
safety, constructability, maintenance
and production standards.
CERTIFIED BY THE
FLORIDA
DEPARTMENT OF
TRANSPORTATION
TO PROVIDE
GROUP FIFTEEN
lAND,
ARCHlTECI1JRAL
SERVICES.
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David Conner & Associates
LANDSCAPE ARCHITECTURE
CONSTRUCTION MANAGEMENT
REPRESENTATIVE PROJECTS
PUBLICI INSTITUTIONAL PROJECTS
, Condon Gardens Housing Project, Clearwater Housing Autlwrity,
Clearwater, Florida
, lee Palcue Arena, Tampa, Florida
, Dr. Martin Luther King, Jr. Plaza. University of South Florida, Tampa,
Florida
, US Federal Courthouse, Tampa, Florida
, Tampa Conventicm Center, Tampa, Florida
, Tampa Convention Center Park, Tampa, Florida
,. Pinel1as Count)' Criminal COUTtS Complex, ClearwdteT, Florida
, Florida Museum of Natural History, Gair1eSville, Florida
,. Orange Count)' Convention ana Civic Center, Orlando, Florida
,. Academic Research Building, Shands T caching Hospital, University of
Florida, Gainesville, Florida
,. Lake Cmmt)' Jail. Tavares, Florida
OFFICE DEVELOPM:ENT PROJECTS
,. Brool<side Commercial Development. Wes/ey Clwpel
,. CIGNA Healthplan of Florida, South Tampa Offrce, Tampa, Florida
,. CIGNA HealthplanofFlorida. Inc" Narth Tampa OffICe, Tampa. Florida
,. SunBank Center, Ft. Lauderdale, Florida
,. National Car Rental, Jacksonville, Florida
,. Koch Industries Corporate Headquarters, \,(!ichita, Kansas
,. Dr. Shama Professional Offlee Building, Temple Terrace. Florida
MULTI..FAMLY RESIDENTIAL
,. Condon Gardens Housing Project, Clearwater Housing Autlwrity,
Clearwater, Florida
, Brookside Residential Community, Wesley Chapel
,. Monte Carlo Towers Rerwvcuian, Tampa, Florida
,. Golden Ocala Golf Course ana Community, Ocala, Florida
,. The Landings Apartments, Orlando, Florida
,. Calibre Chase Apartments, Tampa, Florida
,. Timberland and Tiburon, Naples, Florida
COMMERCIAL PROJECTS
,. NetPark, Tampa, Florida
,. Rinker Materials Corporation. Tampa, Florida
. Jacks07WiUe GalleJia, Jacksonville, Florida
,. Maitland Summit, Maitland, Florida
. Royal MaU, Newark, Delaware
--more-
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Page 2
David Conner & Associates
COMMERCIAL DEVELOPMENT (CONTINUED)
., St. Johns Promenade, JacksorwiUe, Florida
., Pembroke Pines Mall. Pembroke Pines, Florida
., Orange Blossom Plaza, Bradenton, Florida
., Shoney's Restaurant. EUeruon, Florida
PARK AND RECREATION PROJECTS
., Cast Recreation Facilities, Walt Disney lmagineering, Orlando. Flcnida
# Tampa Convention Ceruer Park
., Bcryslwre Place Park. Tampa, Florida
., Adveruure lslarui Wacer Theme Park, Tampa, Florida
., Victarirw Golf Driving Range, Spring Hill, Florida
., Golden Ocala Equestrian Cerner, Ocala, Flaricla
., Wall Sprints Park, Pine1las County. Florida
., Leach Park. Pinellas County, Florida
URBAN DESIGN
., Main Street Streetscape, Safety Harbor. Flcnida
., lee Palace Arena, Tampa. Florida
., Tampa Convention Ceruer Park. Tampa. Florida
., Bay Scout Boulevard Streetscape. T amPLl, Florida
., Pine Street Improvements, Orlando, Flvrida
., SunBank Cerner, Ft, Lauderdale. Florida
RELIGIOUS FACILITIES
., Uruversity Baptist Church, Sarasota, Florida
., Narrhside Baptist Church, North Ft. Myers, Florida
., Allen Temple AME Church. Ybur City, Florida
., Oakwood Community Church, Tampa, Florida
TRANSPORT ATlON
. 17Uerstate 4 Rest Area, Polk Count)', Florida
. Amberly Drive. Tampa Palms Community Development, Tampa. Florida
., Suncoast Parkwcry. Turnpike District
PUBLIC ART INSTALLA nONS
. Ughtning" Ice Palace Arena, Tampa, Florida Uonatlwn Borofsky Artist)
. Agam Fouruain, Tampa Convention Center. Tampa, Florida (Yaccov
Agami Artist)
. Martin Luther King Plaza, University of South Florida. Tampa, Florida
(Mary Miss Artist)
RESIDENTIAL PROJECTS
. Stephens Residence, Tampa, Florida
~ Wamer Resideru:e, Tampa, Florida
., Hoyer Residence. AshviUe, Norrh Carolina
. PraLt Residence, Tampa, Florida
. Mulfmger Residence. Tampa, Florida
. Emt..'TSoo Residence, Tampa, Florida
., Reed Residence. Tampa, Florida
. Kraft Residence. Tampa, Florida
--more--
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Page 3
David Cooner & Associates
RESIDENTIAL PROJECTS (CO~'TINUED)
. Scmckz Residence, Tampa, Florida
. Shama Residence, Tampa, Florida
. Morris Residence, Wichita, Kansa.~
. SUJce Resideru:e, Wichita. Kansas
. Bdsole Residence, Tampa, Flurida
. Semlirz Residence, Tampa, Floridtl
. Ulmer Residence, Tampa. Florida
. Carrol Residence, Tampa, Florida
. Boll Residence, Tampa, Florida
. Anderson Residence. Tampa, F!crridll
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Structural Engineer
E. Michael McCarthy, P .E.
Jeffrey J. Salemme, P .E.
David Shumate, P .E.
Robert L. Selinsky P .E.
Jim Henry, P .E.
Ron Jones
Mark A. Erkkila
Doug Namey
Scott Cunningham
Prabodh Bhatt
Connie Stellges
Dan Robertson
Peter Kaiser
Bayardo Garcia
Katherine Mengelson
Gall Faschan
Cindy Shumate
President
Senior Vice President
Vice President*
Project Manager
Project Engineer
Project Engineer*
Construction Field Rep
Construction Field Rep
Construction Field Rep*
Cad Operator
Cad Operator
Cad Operator
Cad Operator
Cad Operator*
Office Manager
Administration
Administration*
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FIRM PROFILE:
McCarthy and Aaociates, Inc. is a Structural Engineering firm involved in the analysis, design, and
construction inspection of both new and renovation projects. Projects range in size from small residential
additions to high rise commercial buildings, and are located throughout the United States and Caribbean.
Each new project is carefully evaluated to determine the most efficient and cost effective structural system.
To accomplish 1his, we draw on a vast experience of all types of construction including the common systems
such as bar joists, wood t:rusgeS, and masonry; and the more complex systems such as post-tensioned concrete,
lift slab, heavy timber, space frames, long span systems, tilt-up panel, and tunnel form construction.
Mr. McCar1hy, Mr. SalellUlle or Mr. Shumate is personally involved with all on-going projects in the office
and conducts a final review of all completed work.
In April 1996, McCarthy and Associates, Inc. opened a branch office in Ft. Myers, Florida to better serve our
clients located in southeast and southwest Florida. (Ft. Myers employees *)
PERSONNEL:
FIRM MEMBERSIUPS:
ACEC
ACI
FlCE
TCA
PES
SERMC
NSPE
SBCCI
American Consulting Engineering Council
American Concrete In.s1itute
Florida Institute of Consulting Engineers
Tilt-Up Concrete Association
Florida Engineering Society
Structural Engineers Risk Management Council
National Society of Professional Engineers
Southern Building Code Congress International, Inc.
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RESUME
E. Michael McCarthy, P.E.
President
PROFESSIONAL EXPERIENCE:
EDUCATION:
1985 .. Present: McCarthy and Associates, Inc.
Consulting Engineers, Clearwater, Florida
Responsibilities: Management of firm, project
schematic design, final review, and construction
site reviews.
Pennsylvania State University
Bachelor of Architectural Engineering, 1978
Special Studies:
University of Leeds, Leeds, England
REGISTRATIONS:
1984 .. 1985: Mather Group, Inc., Consulting
Engineers, St. Petersburg, Florida
Position: Director of Structural Engineering
P E, Florida, No. 32629
P E, Alabama, No. 20868
P E, Arizona, No. 26247
P E, Connecticut, No. 17102
P E, Georgia. No. 18345
P E, ICanssas. No. 13226
P E, Kentucky, No. 17347
P E, Maine, No. 7331
P E, Massachusetts No. 38641
P E, New Hampshire No. 9036
P E, l~ew Mexico No. 12783
P E, Ohio, No. E-047S79
P E, Pennsylvania, No. 039441-R
P E, South Carolina, No. 16151
P E, V'uginia, No. 020448
Special Building Inspector, Florida, No. 0158
National Council ofEngr Examiners, No. 8529
FAA Certified Instrument Rated Pilot
1978 - 1984: Paul I. Ford and Company,
Structural Engineers, Columbus, Ohio and
Clearwater, Florida
Position: Project Manager
STRUCI1JRAL ANALYSIS AND DESIGN:
Analysis and design of new building structural
systems for: office buildings, shopping centers,
condominiums, churches, nursing homes,
warehouses, and healthcare facilities. Also,
repair and reconstruction of all types of
buildings.
CONSTRUCfION REVIEWS:
Periodic construction reviews of building
projects, including construction reviews under
the Florida Threshold Law, F.S. 531.
PROFESSIONAL MEl\1BERSIllP
PROJECT MANAGEMENf:
Administration of approximately $75,000,000,
construction value, per year of building design
projects from preliminary design through final
construction.
ACI, American Concrete Association
AISC, American Institute of Steel Construction
ACEC, American Consulting Engineers Council
FlCE, Florida Institute of Consulting Engineers
TCA, Tllt-Up Concrete Association
FES, Florida Engineering Society
NSPE, National Society of Professional Engrs
EXPERT WITNESS:
Has been accepted as an expert witness in court,
testifying in matters of faulty design, faulty
workmanship, and other construction related
occurrences.
FAILURE INVESTIGATION:
Investigation of structural failures for Insurance
Companies and Home Warrantee Companies,
including preparation of technical reports.
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RESUME
JefTrey J. Salemme, P.E.
Senior Vice President
1984 - 1986: Paul J. Ford and Company,
Structural Engineers, Clearwater, Florida
Position: Design Engineer
REGISTRATION:
STRUCTURAL ANALYSIS AND DESIGN:
Structural design in all types of construction
including concrete, steel, masonry, and wood of
commercial, industrial and residential buildings.
Specific types of structural analysis include post-
tensioning, tilt-up, shearwall/frame interaction and
foundations.
EDUCATION:
Pennsylvania State University
Bachelor of Architectural Engineering, 1984
P E, Florida No. 44131
P E, Nevada No. 12548
P E, Texas No. 82286
Special Building Inspector, Florida No. 1074
PROJECT MANAGEMENT:
Supervise and coordinate structure from
preliminary design to construction. Determine and
maintain quality control of projects.
AREAS OF EXPERTISE:
CONSTRUCfION REVIEWS:
Organize and conduct building project site visits
and provide field problem solving.
- Structural Analysis '
- Construction Reviews
, - Structural Design
- Failure Investigation
- Project Management
FAILURE INVESTIGATION:
Investigation of structural failures due to fires,
tornadoes, hurricanes, soil erosion, general
construction errors, etc. for various insurance and
home warrantee companies.
PROFESSIONAL MEMBERSHIP:
ACI, American Concrete Association
PES, Florida Engineering Society
NSPE, National Society of Professional Engineers
PROFESSIONAL EXPERIENCE:
1986 - Present: McCarthy and Associates, Inc.,
Consulting Engineers, Clearwater, Florida
Respoosibil.ities: Office adll1inistration, supervision
of project engineers and CAD operators,
coordination with clients aDd other consultants,
engineering design and detailing, final project
reviews, construction administration.
A.G. Edwards Office Building
Belcher Point
BelIeair Links Plaza
Belleair Oaks Office Building
Cardinal Office Building A & B
Carillion 740/780 Parkway
Caspers Co. Addition
Champs Renovation
Cleanvater 7-Story and Garage
Coral Springs Office Center
Cornerstone Building
Coventry Square
CPA Office Buildings
Crosslands Office
CSX Office Building
Dauka Office Building Phase 1&2
Danka Phase III
Dean Witter Office Building
Destin City HaU
Doctors Medical Plaza
Dollar Rent-a-Car
Eagles Park ProCessional Buildings
East Shore Business Center Ph 3
Eddy Office Building
Fdot District 7 Office Building
Forth Street Office Building
FPC Clearwater District Office
FPC E. Orange District Office
FPC I.S. Command Center
FPC Monticello Operations Center
FPC Pinellas Park District Office
Ft. Myers, FL
Cleanvater, FL
Cleanvater, FL
Cleanvater, FL
Grand Cayman
St. Petersburg, FL
Tampa, FL
Bradenton, FL
Clearwater, FL
Coral Springs, FL
Clearwater, FL
Tampa, FL
St. Petersburg, FL
Sarasota, FL
Tampa, FL
St. Petersburg, FL
St. Petersburg, FL
Ft. Myers, FL
Destin, FL
St. Petersburg, FL
Ft. Myers, F
Seminole, FL
Hillsborough Co.
Ormond Beach, FL
Tampa, FL
St. Petersburg, FI
Clearwater, FL
Orange Co., FL
St. Petersburg, FL
Monticello, FL
Pinellas Pa rk, FL
~~ MCCarthy and
.e~ Assodates, Inc.
CON S U L T IN G . E N GIN E E R S
PARTIAL LIST OF OFFICE BUILDINGS
2555 Nursery Road · Suite 101 · Clearwater, FL 33764-3080 · (813) 536-8772 · Fax (813) 538-9125
FPe St Pete District Office
Government Admin Building
Green Valley Office Building
Grip Development
GTE - Plant City
G & J Building
HLS Office Building
Home Shopping Network
Indian Rocks Beach Town Hall
International Drive
Kindred Office Bldg.
Landmark Office Bldg.
Lee Davis Senice Center
Lighthouse Point
Lykes Office Bldg.
Oakbrook Plaza Bldg.s "A" & "G"
Office Ventures
Orlando Central Park South
Paddington Place
Pinellas County Cigar Factory
Pinellas County Technical Services Bldg.
Pine Park Bldg I
Roosevelt 3..Story
Roosevelt 5-Story
Rubin leat Bldg. A
SabalOffice Bldg.
Social Securities Bldg.
State Farm Brandon
Summerlin Bldg. 3
Town Center Plaza
. Vision Cable Office Bldg.
St. Petersburg, FI
Grand Caymans BWI
Southington, CT
Delray Beach, FL
Plant City, FL
Oldsmar, FL
Tampa, FL
St. Petersbu rg, FL
Indian Rocks Bcb, FL
St. Petersburg, FL
Grand Cayman, VI
Cleanvater, FL
Tampa, FL
St. Petersburg, FL
Brighton, FL
Safety Harbor, FL
Cayman Islands
Orlando, FL
Cayman Islands
Clea mater, FL
Pinellas County, FL
Spring Hill, FL
St. Petersburg, FL
St. Petersburg, FL
Cleanvater, FL
Tampa, FL
Ft. Myers, FL
Brandon, FL
Ft. Myers, FL
Tampa, FL
Clearwater, FL
Mechanical Engineer
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Engineering
Professionals, Inc.
Mechanical Engins9rs
1720 W. Cleveland Street · Suite E · Tampa, FL 33606 · (813) 251-6848 . FAX 251-1468
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INTRODUCTION
Engineering Professionals, Inc. Is a consulting engineering firm which offers high quality, reliable
mechanical design services for heating, air conditioning, plumbing, fire protection, and miscellaneous
piping systems. The ultimate goal of the firm is to satisfy the needs of its clients by responding
promptly and professionally to project requirements. Actively practicing the philosophy of "continual
improvement," the firm is constantly refining its ability to provide the best possible designs.
The staff of Engineering Professionals, Inc. has experience in a variety of industrial, institutional, and
commercial areas including numerous: hospitals, telecommunications facilities, schools, airports, and
retail facilities. This broad experience base is beneficial to all clients of the firm. Professional
engineering registration is maintained in over 40 states to service our national clients.
Engineering Professionals, Inc. is committed to excellence. Following is further information about the
firm for your review.
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ENGINEERING PROFESSIONALS, INC.
OFFICE BUILDING PROJECTS
New Construction
Bardmoor Office Building, 90,000 s. f., Largo, Florida
EDS Office Building, 125,000 s.f., Maitland, Florida
Fingerhut Telemarketing, 53,000 s.f., Tampa, Florida
Hellmann International Forwarders, Construction of 150,000 s.f. Corporate Offices, Miami, Florida
I C Intracom, 34,000 s.f., Tampa, Florida
International Corporate Park, MiamL Florida, Numerous buildings totaling approx. 500,000 s. f.
Sunrise Corporate Center, Plaza One, 114,000 s.t., Sunrise, Florida
Tampa Oaks, 166,000 s.f., Tampa, Florida
Tech Data Corp, 240,000 s.t. Office Building, Clearwater, Florida
United Healthcare, 3-story 120,000 s. f. Building, Sunrise, Florida
Wausau Insurance Companies, 80,000 s.1., Temple Terrace, Florida
Woodlands, Buildings 0, F, and G approximately 300,000 s.t., Tampa, Florida
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OFFICE BUILDING PROJECTS
Tenant Improvement/Remodeling
17 Davis, Tampa, Florida, Numerous projects
100 Twigg Street, Tampa, Florida
Airport Executive Center, Tampa, Florida, Numerous projects
Centrepointe, Tampa, Florida, Numerous projects
Corporate Oaks, Tampa, Florida, Numerous projects
Counsel Square II, HRS Facility, New Port Richey, Florida
EDS Office Building, Maitland, Florida
First Union Corporate Finance Expansion, 11th Floor, Miami, Florida
GTE Florida, City Center, Tampa, Florida, Numerous projects
GTE Florida, Twigg Street, Tampa, Florida, Numerous projects
Hellmann International Forwarders, Construction of Corporate Offices, Miami, Florida
Intermedia Communications, Tampa, Florida
International Corporate Park, Miami, Florida, Numerous buildings
Interstate Business Park, Environmental Protection Agency Addition
Interstate Business Park, Hughes Technical Services, Tampa, Florida
Palm River Center, Tampa, Florida, Numerous projects
Price Waterhouse LLP, Numerous projects in Florida
Tech Data Corp, New 240,000 Square Foot Office Building, Clearwater, Florida
United Healthcare, 3-Story Building, Sunrise, Florida
University Technology Center, Tampa, Florida, Numerous projects
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GARY STENLUND, P.E.
Principal
Mr. Stenlund's experience is the result of his work with mechanical systems engineering since 1978.
Before forming Engineering Professionals, Inc., Mr. Stenlund worked for a large consulting engineering
firm in Wisconsin and for a prominent Tampa firm. Mr. Stenlund offers extensive and varied experience
in the design of heating, ventilation, air conditioning, plumbing, and fire protection systems for
industrial, commercial, and institutional clients. He has designed hot water, steam, forced hot air, and
electrical heating systems. His air conditioning experience encompasses chilled water, direct expansion,
and desiccant cooling systems. Some of his duties include:
· Chief Executive Officer and President with responsibility for the HV AC, plumbing, and fire
protection design for all projects.
· Conducting presentations and performing marketing.
· Responsibility for staff quality control.
· Performing as lead mechanical project engineer for many projects from contract negotiations
through final building inspection.
· Design of HV AC systems for commercial, industrial, and institutional buildings, including
exhausts for commercial, industrial, and laboratory applications.
· Writing energy audits and technical assistance reports.
· Engineering of small commercial building electrical systems.
· Planning and directing business operations.
EDUCATION
University of South Florida, Tampa, Florida
September, 1990 to 1993 - MBA Program
University of Wisconsin, Oshkosh, Wisconsin
September, 1986 to June, 1 988 - MBA Program
University of Wisconsin, Madison, Wisconsin
September, 1978 to May, 1982 - BSME
REGISTRATION
Registered Professional Engineer in: Wisconsin, 1986; Florida, 1988; Texas, 1990; North
Carolina, 1991; Alabama, 1993; Ohio, 1993; Georgia, 1993; South Carolina, 1994; Arizona
1994; Mississippi, 1994; Pennsylvania, 1994; Kansas, 1995; Missouri, 1995; Tennessee,
1995; Utah, 1995; Colorado, 1995; Idaho, 1995; Wyoming, 1995; Nevada, 1995; Kentucky,
1995; South Dakota, 1996; Virginia, 1996; Oregon, 1996; Oklahoma, 1996; New Mexico,
1996; California, 1996; Arkansas, 1996; New Hampshire, 1996; Connecticut, 1996;
Washington, 1996; New Jersey, 1996; Maryland, 1996; Hawaii, 1997; and West Virginia,
1997.
Technical Assistance Analyst Certificate, No. T-0030, 1992
National Council of Examiners for Engineering and Surveying, Certificate No. 9140
PROFESSIONAL SOCIETIES
· American Society for Heating, Refrigerating, and Air-Conditioning Engineers
. Florida Engineering Society
. National Society of Professional Engineers
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BOSBI C. DAVIES, P.E.
Vice President - Production
Ms. Davies has been a practicing engineer for twenty years in mechanical systems engineering. Before
joining Engineering Professionals, Inc., Ms. Davies worked for McDonnell Douglas and for the United
States Air Force. Ms. Davies offers extensive experience in the design of heating, ventilation, and air
conditioning systems for industrial and institutional facilities, as well as office buildings. Previous
projects have included radioactive test labs, aircraft fuel tank repair facilities, general industrial shops,
and central heating and cooling plant facilities. She has designed chilled water, direct expansion, and
absorption type chiller systems. Heating system designs have included steam, hot water and high
temperature hot water with both coal and oil fired boiler plants. Some of her previous duties have
included:
· Performing as lead mechanical project engineer for many projects from contract negotiations
through final building inspection.
· Preparation of drawings and development of specifications.
· Design analyses and cost estimates.
· Review of contractor submittals and construction management.
· Design work for numerous air conditioning and ventilation projects, including both new
construction and renovation work.
· Preparation of computerized building HV AC performance simulations and performed energy
audits.
· Definition of quality requirements, design approval, budget development, and manpower
assignment.
· Responsible for installation quality and testing for processing equipment for the International
Space Station-Alpha.
· Supervision of staff of six people.
eOUCA TION
University of Florida, Gainesville, Florida
1982 - Master of Engineering, Mechanical Engineering,
Central Florida University, Orlando, Florida
1974 - Bachelor of Science, Mechanical Engineering, cum laude
REGISTRATION
Registered Professional Engineer: Florida, No.4 7624; Louisiana, No. 27225; Indiana, No.
19700189; Iowa, No. 13934; North Dakota, No. PE-4055; and Nebraska, E-8917.
National Council of Examiners for Engineering and Surveying, Reg. No. 14967
PROFESSIONAL SOCIETIES
· American Society for Heating, Refrigerating, and Air-conditioning Engineers
. Florida Engineering Society
. National Society of Professional Engineers
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TERRY N. THOMPSON
Vice President
Mr. Thompson brings over thirty years of experience in mechanical systems design to our firm. Before
joining our team, Mr. Thompson was a principal with two prominent central Florida consulting firms.
Mr. Thompson's experience includes all forms of HVAC, plumbing, refrigeration and solar energy
design, ranging from residential to multi-million dollar commercial and institutional buildings. This
includes schools, computer facilities, telecommunication facilities, archives, museums, postal facilities,
hospitals, supermarkets, high-rise buildings, energy surveys, retrofit projects, and numerous other
facilities. He has performed design on facilities throughout the United States as well as the Caribbean.
He has designed chilled water systems including low temperature chilled water and thermal storage,
direct expansion systems including liquid overfeed and desiccant cooling systems. His heating system
design experience includes: electric, hot water and high temperature hot water with both gas and oil
fired boiler plants. Additional experience includes responsibility for staff quality control, project
scheduling, personnel hiring, and business development.
Some of his present duties included:
· Project management from contract negotiation through final building inspection.
· Design of HV AC and plumbing systems for commercial, industrial and institutional
. facilities.
· Design analysis and cost estimating.
· Conducting presentations and marketing.
Projects Mr. Thompson has performed design services for include:
· GTE Florida, Inc.: Various projects throughout GTE's service area.
· Tech Data, Tampa, Florida: New 240,000 square foot office building.
· Reptron, Tampa, Florida: New 150,000 square foot manufacturing facility.
· A T & T Paradyne, Tampa, Florida: 38,000 square foot office renovation.
· Memorial Hospital, Tampa, Florida: Comprehensive outpatient rehabilitation facility.
· St. Joseph's Hospital, Tampa, Florida: Various projects.
· All Children's Hospital, Tampa, Florida: 17,000 square foot prototype pediatric clinic.
· Hillsborough County School Board: Various schools and projects.
· Ybor City Brewing Company, Tampa, Florida: Conversion 01 cigar factory to brewery
manufacturing plant.
EDUCATION
University of South Florida, Tampa, Florida
Engineering Studies
PROFESSIONAL SOCIETIES
· American Society for Heating, Refrigerating, and Air-conditioning Engineers
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LEE B. MARSHALL
Project Manager
Mr. Marshall has over fifteen years experience in the mechanical engineering field. He has experience
in all major types of heating, ventilating, and air conditioning systems. For the past eight years, he has
worked extensively in the design of Florida health care facilities and is an expert in the latest
interpretations of the Agency for Health Care Administration requirements. His duties include:
Some of his present duties included:
. Mechanical project manager for commercial, institutional and health care facility projects.
· Design of chilled water and direct expansion cooling systems and electric and hot water heating
systems.
. AHCA plan review, negotiations, and construction inspections.
· Performs Florida Energy Calculations (FLACOM).
· Construction administration, shop drawing, review and project inspections.
A sampling of Mr. Marshall's project experience includes:
· Fort Harrison Hotel Renovations, Clearwater, Florida
· Florida International Museum, St. Petersburg, Florida
· Fred K. Marchman Vocational Center, Pasco County, Florida
· George Jenkins High School, Lakeland, Florida
. St. Anthony's Hospital: Psychiatric Unit, Emergency Department and ICU, and Operating Room
in St. Petersburg, Florida
· St. Joseph's Hospital, Various Projects, Tampa, Florida
· Spacecoast Surgery Center, Merritt Island, Florida
eDUCATION
Northeast Louisiana University, Monroe, Louisiana
September 1982 to December 1987 - Graduated BFA
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MARY L. STEENSRUD
Vlco President-Administration
Ms. Steensrud has fifteen years of management experience in diverse business environments, as well
as twelve years in a data processing organization.
Before helping to organize Engineering Professionals, Inc., Ms. Steensrud was employed as officer
manager in a local engineering consulting firm. Her duties included: selection and training of office
staff; monitoring of work flow to meet deadlines; production of marketing information; performance of
personnel and accounting functions; and maintenance of general office operations.
Her experience includes the creation of databases for company analysis reports, project information
research and creation of resumes to develop a marketing database.
Ms. Steensrud provides accounting, marketing, personnel, and office management for our firm. She
performs administration of insurance needs; corporate and personnel tax reporting; maintenance of
office equipment inventory; vendor/equipment cost comparisons and cost control; development and
application of management analysis reports; and oversees accounts payable, accounts receivable, time
accounting, and invoicing.
EDUCATION
Madison Area Technical College, Madison, Wisconsin, Computer Programming
Western Wisconsin Technical Institute, La Crosse, Wisconsin, Accounting
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CHARLES J. (JACK) MYERS
Mechanical Designer
Mr. Myers has fifteen years of HV AC and plumbing design experience which includes design of HV AC,
plumbing and medical gas systems for hospitals. Mr. Myers has considerable experience in the
construction administration of many types of projects. He communicates well with clients and
maintenance personnel.
His duties include:
· Mechanical systems design of HV AC for educational facilities and hospitals.
· Laboratory plumbing and medical gas piping systems design for educational facilities
and hospitals.
· Construction administration services for many projects.
· Communication with project clients, architects, and structural/civil/electrical engineers.
· Full knowledge of AHCA standards and performance of site inspections with AHCA
inspectors.
· Field surveys of existing conditions.
· Cost estimating and analysis of construction options.
Projects on which Mr. Myers performed design services include:
· South Florida Community College, Avon Park, Florida: Provided on-site construction
oversight services for chiller plant expansion and thermal energy storage system
project.
· Hillsborough County Schools, Tampa, Florida: Design of HVAC, plumbing, fire
protection and construction administration for new Walker Middle School.
· University Community Hospital, Tampa, Florida: HV AC, plumbing, fire protection
design as well as two years of construction administration for the Radiology
Department, Outpatient OR, Doctors' Offices, Emergency Room and Recovery Room
projects.
· Bay Pines Veterans' Hospital, St. Petersburg, Florida: Design and one year construction
administration for the medical waste steam sterilizer project.
· Tampa General Hospital, Tampa, Florida: HV AC, plumbing and medical gas design for
various projects.
· Walt Disney World, Orlando, Florida: Prepared contract drawings for replacement of
air handling units at the Contemporary Hotel.
· St. Joseph's Hospital, Tampa, Florida: HVAC design for the central plant and
associated projects.
enUCA TION
Wake Community College, Raleigh, North Carolina
Mechanical Drafting and HV AC Studies, Graduated, 1967
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PEDRO J. (P.J.) CRESPO
Mechanical Engineer
Before joining Engineering Professionsls, Inc., Mr. Crespo worked for an engineering consulting firm as
8 design engineer and energy analyst. His experience includes: HV AC system design for commercial,
institutional and health care facilities; facility energy audits and analysis; feasibility studies; and energy
accounting and performance contract savings verification.
Projects Mr. Crespo has performed design services for include:
. Facility technical audits for the State of Florida Institutional Conservation Program.
. Fleet Life Cycle cost studies for Hillsborough County School Board.
. Performance contract energy analysis.
. Institutional performance contract savings verification through the use of FASER energy
accounting software.
. Design of chilled water and hot water HV AC systems for hospitals and schools.
. Design of direct expansion systems for commercial facilities.
. Design of HVAC systems for Hillsborough County Schools "0" and "F."
. Germain-American Club design for HVAC.
EDUCATION
University of South Florida, Tampa, Florida
1995 - Bachelor of Science, Mechanical Engineering
ASH RAE Basic HV AC Design Courses I and II
REGISTRATION
Engineer-In- Training, May, 1995
PROFESSIONAL SOCIETIES
e American Society of Heating, Refrigerating and Air-conditioning Engineers
. American Society of Mechanical Engineers
. Pi Tau Sigma - Honorary Mechanical Engineering Society
. Society of Hispanic Engineers
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MATTHEW D. LEWIS
Mechanical Engineer
Before joining Engineering Professionsls, Inc., Mr. Lewis worked for a design-build commercial
contractor as a project engineer and estimator. His experience involves most aspects of HV AC
systems design and construction for commercial, industrial, and medical facilities, such as: load
analysis, equipment selection, estimating, systems layout, procurement, scheduling and test and
balance.
Mr. Lewis' duties include:
· HV AC designs for DX, chilled and hot water systems
· Florida Energy Code calculations/ B.E.E.R.S. Rater
· Production and review of shop drawings
· Construction management from bid to project closeout
· Communication with project owners, architects, engineers, subcontractors/suppliers
A sampling of projects include:
· The Sports Authority at locations throughout the country
· The Watson Clinic Expansions
· Breed Technologies Additions
· Winter Haven Hospital Renovations
" lake Wales Medical Center Upgrades
· lakeland Glendale Waste Water Treatment Plant Renovations
· Florida Presbyterian Homes, New Nursing Facility
eOUCA TION
University of Miami, Coral Gables, Florida
1992 - Bachelor of Science, Mechanical Engineering
Florida Energy Code - Building Energy Efficiency
Rating System (B.E.E.R.S.) Course - 1995
REGISTRATION
Engineer in Training: April, 1997
PROFESSIONAL SOCIETIES
. American Society of Heating, Refrigerating and Air-conditioning Engineers
· American Society of Mechanical Engineers
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DAVID A. TAYLOR'
Mechanical Engineer
Mr. Taylor brings five years of HVAC and plumbing design, energy analysis, and project management
to our firm. Before joining Engineering Professionals, Inc., Mr. Taylor worked for engineering consulting
firms In both Florida and Arizona as a project manager and design engineer. Mr. Taylor has designed
mechanical and plumbing systems for commercial, institutional, residential, and industrial facilities.
A sampling of projects includes:
. Tropicana Research and Test Facility,
· Maricopa County Corporate Headquarters, Scottsdale, Arizona: Complete central plant,
air and water distribution system.
· City of Scottsdale, Arizona, North and Northwest Wastewater Pumping Stations:
design of mechanical and plumbing systems.
· Glendale Union High School District: Energy analysis for nine high schools to determine
energy savings after new HV AC system renovations.
· Motorola Thermal Vacuum Test Facility: Mechanical and plumbing designs, including
process gaseous and liquid nitrogen process piping.
· Insight Direct: 92,000 square foot telemarketing facility which included a VAV system
with four central station OX air conditioners.
· Desert Sky Pavilion, Stage Cooling: A renovation to add cooling to an outside
amphitheater stage; cooling utilized a thermal storage system to reduce utility charges.
· First Interstate Bank, Central Computing Facility: 140,000 square feet of new and
90,000 square feet of remodel construction. This project included a new 1,500-ton
central plant and central station with VAV air handlers.
· Rudi's Foods: A local 150,000 square foot Pillsbury bakery.
EDUCATION
University of South Florida, Tampa, Florida
Bachelor of Science in Mechanical Engineering, Graduated, 1991
REGISTRATION
Engineer in Training: March, 1992.
PROFESSIONAL SOCIETIES
. American Society of Heating, Refrigerating and Air-conditioning Engineers
"
FREDRICK H. (HERB) NEWMAN, P. E.
Mechanical Engineer
,Prior to joining Engineering Professionals, Inc. in 1994, Mr. Newman had over twenty-five years of
management and engineering experience in an industrial food plant. He has been in responsible charge
for all aspects of facilities operations including maintenance, utilities and engineering. Mr. Newman lead
a team of four engineers of both mechanical and electrical disciplines that designed process, facilities
and utility systems. The breadth of work included economic analysis, design, construction and startup--
a complete and total job for the customer. Mr. Newman has specified and operated process pumps and
piping, heat transfer equipment, steam, hot water, freon and ammonia refrigeration and air systems.
He is familiar with instrumentation control and it's relationship with the operator.
As part of his previous duties, he:
· Served as plant leader for $70,000,000 expansion that lasted four years. The team
began work with transition team formation and ended with startup, punch list item
completion, and follow up of customer satisfaction.
· Prepared and implemented long range capital planning as well as annual expense
budgets of $20,000,000.
· Initiated and lead the ammonia process safety control efforts for the plant. Participated
in energy, environmental, and process safety audits.
eDUCATION
University of South Florida
February 1995, HV AC Fundamentals and Design
Total Quality Management
June 1992 to June 1994
Instrument Society of America, Raleigh, N. C.
June 1990, Process Instrumentation
University of Florida, Gainesville, Florida
June 1961, Graduated BSME
PROFESSIONAL AFFILIATION
· Registered Professional Engineer, State of Florida. Instrument Society of America,
Senior Member.
· American Society of Heating, Refrigeration and Air-conditioning Engineers.
. Unlimited Steam and Refrigeration License, HiIIsborough County
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DENA M. BRIER
Plumbing Designer
Ms. Brier joined Engineering Professionals, Inc. after obtaining an Associates of Applied Sciences degree
from ITT Technical Institute of Tampa, Florida. She performed man'y aspects of drafting in school as
well as working with different versions of AutoCAD. Ms. Brier is certified by the American Drafting and
Design Association. Her duties have included:
. Design of plumbing systems for commercial buildings (offices, restaurants, warehouses,
hotels) and fire protection for small commercial buildings.
. Project management (supervision drafting staff, managed work deadlines)
. Drafting designed HVAC , plumbing, and fire protection systems.
. Preparing diskettes for companies use.
. Updating drawings with new information.
. Updating computers with revised drawings.
· Architectural drafting.
· Civil drafting.
· Electronics.
. AutoCAD 10, 11, and 12 including 3D and rendering.
EDUCATION
University of South Florida
Engineering Program, 1997 to present
ITT Technical Institute, Tampa, Florida
September 1992 to March 1994 - Computer-aided Drafting Program
Several AutoCAD Seminars
PROFESSIONAL SOCIETIES
. American Society of Plumbing Engineers, Associate Member
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FREDERIK W. (FRITZ) HUETING
Plumbing/Fire Protection Designer
Mr. Hueting has prepared plumbing and fire protection designs for the firm since 1993. Prior to joining
Engineering Professionals, he worked for three years in a Tampa consulting engineering firm, and four
years as an apartment maintenance supervisor, maintaining plumbing, HVAC, and electrical systems.
Mr. Hueting has worked on numerous types of projects, including commercial, industrial, and
institutional, and has been involved with both the design and construction phases for these projects.
His duties include:
" Design of plumbing systems for a variety of projects; hospitals, restaurants, churches,
schools, laboratory facilities, and manufacturing warehouses.
· Design of fire protection and medical gas systems.
· Set up of CADD stations and standards for design/drafting and plotting.
· Performance of AutoCAD and WordPerfect trouble-shooting.
· Development of computer programs to automate administrative reports and CADD
drafting.
· Instructs staff in AutoCAD and basic computer skills.
· Performs site inspections of construction projects, including submittal and shop drawing
review.
EDUCATION
HilIsborough Community College, Tampa, Florida
September, 1975 to June 1 977
Tampa Technical Institute, Tampa, Florida
May, 1988 to October, 1989 - Graduated, with high honors, AA Specialized.
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HV AC Oeslgner/CAOD Specialist
Mr. Kallel joined Engineering Professionals, Inc. after obtaining an Associates of Applied Sciences
degree from ITI. He obtained another Associates of Applied Sciences degree from ITT. His duties
include:
· HV AC, plumbing and fire protection drafting
· FlaCom Energy Code calculations
· Design of heating, refrigeration and air conditioning systems for commercial buildings
(offices, restaurants, warehouses and hotels)
· Installation of computer software and hardware
· Preparing diskettes for company use
· Thorough knowledge of AutoCAD Versions 10- 14
· Thorough knowledge of AutoCAD Versions 1 2- 14 for Windows 95
EDUCATION
ITI Technical Institute, Tampa, Florida
A.A. Degree obtained September, 1994
ITTTechnicallnstitute
A.A. Degree obtained September, 1994
Various seminars:
· Refrigeration Theory and applications, Trane Air Conditioning Clinic
· Introduction to Auto Lisp, AutoCAD Release 13 For Windows
· Menu Customization, AutoCAD Release 1 3 For Windows
· Several AutoCAD Seminars and Seminars on the Internet
PROFESSIONAL SOCIETIES
· American Society of Heating, Refrigeration and Air-conditioning Engineers, Affiliate
Member
· Member of ITT Alumni Association
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DRAFTING STAFF
We have a very talented drafting staff:
Joe Buscemi graduated in November, 1996, from ITT Technical Institute with an Associate of Science
degree.
Brandon Caldwell graduated in January, 1997, from ITT Technical Institute with an Associate of
Science degree.
Frank Poruba graduated in February, 1996, from ITT Technical Institute with an Associate of Science
. degree; and has experience with fire sprinkler contracting.
Jennifer McCarren graduated in March, 1997, from ITT Technical Institute with an Associate of Science
degree.
Jim Monahan graduated in 1987 from Johnson Technical Institute, Scranton, Pennsylvania, with an
Associate, Mechanical Design/Drafting degree.
These individuals assist in the design process; perform mechanical systems drafting; and maintain our
information and records.
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PROJECT LISTING
The following presents a partial listing of the various projects with which the staff of Engineering Professionsls,
Inc. have been professionally involved.
OR, ER, Plant, Labs, Psych,
6,000,000
250,000
Weyerhaeuser Addition & Remodeling, Tampa, Florida
Essilor Remodeling, Tampa, Florida
Clorox - Moore's Foods, Ft. Atkinson, Wisconsin
Bic Plant No. 2
900,000
Waterloo Steam Utility, Waterloo, Wisconsin
Hazelton Labs, Madison, Wisconsin
GTE Florida: Tampa, Sarasota, Winter Haven, Clearwater, Tarpon Springs
St. Peters.burg, Plant City 1,000,000
GTE Mobilnet: Tampa, St. Petersburg, Bradenton, Clearwater, Winter Haven
Bartow, Venice, Osprey
Over 100 other projects
Medical
o
St. Joseph's Hospital, Various Remodeling, Tampa, Florida
AMI Palmetto General, Women's Center, Hialeah, Florida
Maryhill Nursing Home, Niagara, Wisconsin
St. Anthony's Hospital, St. Petersburg, Florida:
ENDO and SNIF projects
Surrey Nursing Home, Brandon, Florida
Over 200 other projects
.
.
.
.
.
Institutional
.
George Jenkins High School, Lakeland, Florida
USF, Communications Building, Tampa, Florida
Monroe Co. Courthouse & Jail, Sparta, Wisconsin
Green Bay West High, Green Bay, Wisconsin
Uxbridge High School, Uxbridge, Massachusetts
Florida College of Osteopathic Medicine, Tarpon Springs, Florida
Hillsborough County School Board: numerous elementary schools
Sarasota/Bradenton Airport, Sarasota, Florida
Over 100 other projects
.
It
.
.
CI
.
.
.
Commercial
.
Shopko Stores: Minn., Wise., Idaho, and So. Dakota
Cub Foods: Wisconsin and Illinois
Embassy Suites Hotels: Wisconsin and Minnesota
Regency Center Offices, Green Bay, Wisconsin
Outback/Carrabba's Restaurants, National Account ($ noted per location)
Avenue Mall, Appleton, Wisconsin
United Healthcare, Sunrise, Florida
Over 400 other projects
.
.
.
.
.
.
.
Industrial
.
.
.
.
.
.
.
.
.
HVAC
COST
$ 8,000,000
. 800,000
275,000
$ 2,300,000
450,000
300,000
900,000
1,525,000
600,000
3,000/000
4,200,000
$ 270,000
185,000
630,000
1,100,000
90,000
1,000,000
1,000,000
$ 700,000
62,000
500,000
260,000
3,900,000
480,000
SQUARE
FOOTAGE
500,000
62,000
47,000
159,000
42,000
270,000
63,000
57,600
215,000
167,000
62,000
120,000
320,000
91 ,000
86,100
204,000
200,000
7,000
250,000
110,000
427,000
20,000
51,000
150,000
145,000
600,000
20,000
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TECHNICAL REFERENCES
Buslnes.
St. Joseph's Hospital
1200 Seventh Avenue No.
P.O. Box 12588
Tampa, FL 33733
Southern Equipment Corporation
1720 W. Cleveland Street
Tampa, FL 33606
G. L. Johnson Engineoring
13824 Walsingham Road
largo, FL 34644
The Architectural Practice, Inc.
5300 W. Cypress St., Suite 280
Tampa, FL 33607
The Poole & Kent Company
1715 lemon St.
Tampa, FL 33606
Harold Hart & Associates, Inc.
4201 West Gray Street
Tampa, FL 33609
Tappouni Mechanical, Inc.
1344 West Cass Street
Tampa, FL 33606
Harvard Jolly Clees Toppe, Architects, P.A.
2714 Ninth Street North
St. Petersburg, FL 33704
Schultz & Collman, Architects, P.A.
303 Main Street
Dunedin, FL 34698
Contact
Mr. Chuck Secord
Architect
(813) 825-1156
Mr. Barton Hartsock
Chairman of the Board
(813) 251-1839
Mr. Hank Johnson, P.E.
President
(813) 596-2029
Mr. Mohammed Zayan
President
(813) 287-2200
Mr. AI Perez
Principal
(813) 251-2438
Mr. Harold Hart, P.E.
President
(813) 287-2719
Mr. Mike Tappouni
President
(813) 251-2762
Mr. James A. Shawhan
Sr. Vice President
(813) 896-4611
Mr. Rod Collman
Principal
(813) 733-0491
.
RATE SCHEDULE
The rate schedule below is Intended for both informational and comparison purposes. Individual jobs may be
negotiated on the basis of cost per square foot, percentage of construction, etc.
Principals . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sr. Project Managers . . . . . . . . . . . . . . . . . . .
HV AC Engineers/Sr. Designers ............
Designers . . . . . . . . . . . . . . . . . . . . . . . . . . .
Drafters . . . .. . . . . . . . . . . . . . . . . . . . . . . . .
Clerical ............................
$ 90.00 per hour
$ 80.00 per hour
$ 65.00 per hour
$ 45.00 per hour
$ 35.00 per hour
$ 35.00 per hour
STATE OF FLORIDA
BOARD OF PROFESSIONAL REGULATION: EB-0006437
CORPORATE CHARTER NUMBER: V61995
TAXPAYER IDENTIFICATION NUMBER: 59-3143442
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PROFESSIONAL ENGINEERING REGISTRATIONS
. .
I State I P.E. I Yr. I Reg. No. I Exp. Date I
Reg.
Alabama GS 1993 19444 12/31/98
Arizona GS 1994 27892 03/31/00
Arkansas GS 1996 8878 12/31/98
California GS 1996 M 30032 06/30/00
Colorado GS 1995 30805 11/30/99
Connecticut GS 1996 19620 01/31/98
Florida GS 1988 40439 02/28/99
Florida 8D 1994 42684 02/28/99
Georgia GS 1993 20560 1 2/31/98
Hawaii GS 1997 9184 04/30/98
Idaho GS 1995 8074 04/30/99
Illinois BD 1997 0062-051487 11/30/99
Indiana BD 1997 19700189 07/31/98
Iowa SD 1997 13934 12/31/98
Kansas GS 1995 13627 04/30/99
Kentucky GS 1995 18990 06/30/98
Louisiana SD 1997 27225 09/30/99
Maryland GS 1996 22162 06/30/98
Massachusetts GS 1997 Pending
Michigan GS 1997 6201043566 10/31/98
Minnesota GS 1997 25624 06/30/98
Mississippi GS 1994 12171 12/31/98
Missouri GS 1995 27326 12/31/98
Nebraska 8D 1997 E-891 7 12/31/98
Nevada GS 1995 11877 06/30/98
New Hampshire GS 1996 9250 04/30/98
New Jersey GS 1996 GE 39869 04/30/98
New Mexico GS 1996 13124 12/31/98
North Carolina GS 1991 17862 12/31/98
North Dakota 80 1997 PE-4055 12/31/98
Ohio GS 1993 E-57228 12/31/98
Oklahoma GS 1996 17947 02/28/99
Oregon GS 1996 18283PE 06/30/98
Pennsylvania GS 1994 48554-R 09/30/99
South Carolina GS 1994 15598 06/30/98
South Dakota GS 1996 6031 12/31/98
Tennessee GS 1995 102532 06/30/99
Texas GS 1990 6'7348 12/31/98
Utah GS 1995 295894-2202 05/31/98
Virginia GS 1996 0402026599 01/31/98
Washington GS 1996 33105 04/24/99
West Virginia GS 1997 1 3288 06/30/98
Wisconsin GS 1986 24413 08/01/98
, AI. GS 1995 7052 12/31/98
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FLORIDA DESIGN CONSULTANTS, INC.
.'
MEMORANDUM
TO:
Al Justice J
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December 31 ~ 1997
FROM:
DATE:
SUBJECT:
Florida Design Consultants, Inc./Capabilities - Local Experience
Enclosed with this memo are two (2) copies of our corporate brochure which indicates the type of services
we can provide, references and recent projects. In addition, I thought it would be helpful to mention a few
other factors you may want to consider. These are as follows:
1. EDC StatI.Experience - My experience with land development projects in the City of Clearwater
encompasses almost 25 years. During that time I have managed more than 50 projects within the
City limits of Clearwater. As a result of all of this work I believe I have developed an excellent
relationship not only with the City staff, but also the elected officials of Clearwater. The Mayor
and several Commissioners asked me to serve on the Planning & Zoning Board several years ago,
and I am currently the Chairman of that Board. In addition, they requested that I serve on the
"Oversight" Committee for the new Land Development Code that will be implemented in 1998.
Two (2) of my partners, Gregg Singleton, P.E., our Vice President of Engineering, and Robert
Pergolizzi, our Vice President of Transportation, also have long standing, excellent relationships
with the Clearwater staff, so I think we have the 'type of track record that adds credibility to the
project team.
2. Current Clearwater Projects - Our staff is involved with the design/permitting of five (5) projects
located within the City of Clearwater. These projects include:
a. A 104,000 sq. ft. office building in Park Place. The Client is Clinton International and the
project is in the construction plan stage.
b. A 75,000 sq. ft. office building in Park Place. This project is also for Clinton International, and
is in the site plan stage.
c. A 30,000 sq. ft. medical office building at the intersection of Myrtle Avenue and Seminole
Street in northwest Clearwater. The Client is Morton Plant Hospital and the project is in the
construction plan stage.
e. We represent several property owners in "downtown" Clearwater who have asked us to monitor
the planning of a new lake that will be constructed by the City of Clearwater at Pierce Street and
Prospect Avenue. The proposed lake will accommodate not only the redevelopment of our
Client's property, but also the redevelopment of the City annex site located at the intersection
of Missouri Avenue and Cleveland Street. We have been working with the City's staff and
the City's consultant for approximately nine (9) months, and we will assist with the
presentation of the concept plan to the City Commission in January of next year.
'"
Al Justice
December 31, 1997
Page 2
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d. Redevelopment of the Sunshine Mall property which contains approximately 35 acres and is
located on Missouri Avenue. The mall will be demolished and a series of apartment buildings
will be constructed. The Client is BBR Properties of Atlanta, Georgia and the project is in the
rezoning and site plan stage.
3. Other L.Qgy Office Proiects - During the past two (2) years we have worked for Jabil Circuits, Inc.
on two (2) of their expansion projects on their St. Petersburg campus. The first was a 120,000 sq.
ft. building which was completed in early 1997, and the second is a 40,000 sq. ft. headquarters
office building which Jabil will occupy in mid-1998. Both projects had short timeframes for
design/permitting, and we were selected due to our track record of being able to meet tight
deadlines.
AI, as a result of the projects our staff and I have successfully completed for you in the past, I think you
know that we have the knowledge and experience to make sure the project is done right the first time
regardless of the issues or challenges that must be overcome. \Ve look fonvard to providing you with
engineering, sUn'eying, environmental and transportation services for any of your upcoming projects,
and I can assure you that any work we do for you will get my full attention.
Thanks, again, for giving us this opportunity.
:es
M:\justice.2
Enc!.
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FLORIDA DESIGN CONSUL TANTS, INC.
ENGINEERS, ENVIRONMENTALISTS, SURVEYORS & PLANNERS
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WHY FDC?
FLORIDA DESIGN CONSULTANTS' KEY STAFF MEMBERS OF REGISTERED AND
CERTIFIED ENGINEERS, PLANNERS AND SURVEYORS HAVE BEEN SUCCESSFULLY
MANAGING MAJOR DEVELOPMENT OR TRANSPORTATION PROJECTS FOR BOTH
PRIVATE AND PUBLIC CLIENTS IN THE GREATER TAMPA BAY AREA FOR DECADES.
DURING THAT TIME THEY ESTABLISHED THEMSELVES AS HIGHLY
KNOWLEDGEABLE, GOAL ORIENTED PROFESSIONALS WHO KNOW HOW TO
ACCOMPLISH THEIR TASKS QUICKLY AND EFFICIENTLY. THESE TRAITS OF
RECOGNIZED EXCELLENCE LED FDC MANAGEMENT TO THE DECISION TO COMBINE
THE TALENTS OF MANY PROVEN EXPERTS INTO A NEW ORGANIZATION WHOSE
GOAL IS TO PROVIDE ONLY THE HIGHEST QUALITY OF PROFESSIONAL SERVICES TO
OUR F AMIL Y OF CLIENTS IN ORDER TO SOLVE THEIR ENGINEERING, SURVEYING,
PLANNING OR ENVIRONMENTAL NEEDS IN AN EFFICIENT, TIMELY AND COST
EFFECTIVE MANNER.
EACH PROJECT IS ASSIGNED TO AND MANAGED BY A PRINCIP AL-IN-CHARGE WHO
MONITORS THE PROGRESS OF THE WORK EFFORT THROUGHOUT THE LIFE OF THE
JOB. THE PRINCIPAL-IN-CHARGE CAN DRAW UPON ANY OF THE FDC IN-HOUSE
RESOURCES AND PERSONNEL TO ENSURE THAT THE GOALS OF THE CLIENT ARE
MET. SINCE ALL FDC EMPLOYEES ARE ALSO STOCKHOLDERS, COORDINATION AND
COOPERATION ARE MAXIMIZED FOR THE BENEFIT OF THE CLIENT. SERVICES
THAT CAN BE PROViDED BY FOC PROFESSIONALS ARE SHOWN ON THE FOLLOWING
PAGE.
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SERVICES PROVIDED
ENGINEERING DESIGN
. ~TER PLANS - D~NAGE, UTILITY, ETC.
· EARTHWORK ANALYSIS
· UTILITY SYS~ DESIGN
. SUBDI~SION DESIGN
. · SCHEDULING/COST CONTROL
· FINAL CONSTRUCTION DESIGN
* VALUE ENGINEERING
· REGULATORY ISSUES
· PERMITTING
PLANNING
. SITE ANALYSIS AND FEASIBILITY STUDIES
· CONCEPT DEVELOPMENT PLANS
· REZONING/LAND USE ASSISTANCE
. DEVELOPMENT OF REGIONAL IMPACT APPLICATIONS
TRANSPORTATION
· TRAFFIC STUDIES
* TRIP GENERATION STUDIES/IMPACT FEE NEGOTIATIONS
· TRAFFIC SIGNAL W'ARRANT STUDIES
· PARKING ANALYSES
· PRELIMcrNARY DESIGN/CORRIDOR ANALYSIS
* ALTERNATIVE TYPICAL SECTION ANALYSIS
* ARTERIAL AND SECONDARY ROAD DESIGN
· SIGNING AND PAVEMENT MARKING DESIGN
. INTERSECTION DESIGN/SIGNALIZATION DESIG8
* ~NTENANCE OF TRAFFIC/CONSTRUCTION PHASING PLANS
* FOOT COORDINATION/DRIVEKAY PE~TS
ENVIRONMENTAL SCIENCES
I.
* ENV:IRONMENTAL AUDITS
. JORXSDICTIONAL DETERMINATIONS AND REGULATORY STRATEGIES
· ENVJ:RONMEN'.rAL PERMITTING
· MITIGATION PLANTING
* THREATENED AND ENDANGERED SPECIES EVALUATIONS
SURVEYS
* BOUNDARY AND TOPOGRAPHIC SURVEYS
* GLOBAL POSITIONING SYSTEM (GPS SURVEYS)
* CONSTROCTION LAYOUT AND CONTROL
* FINAL PLAT PREPARATION AND RECO:RDING
. RIGHT-OF-WAY RESERVATION MAPS
* HYDROGRAPHIC SURVEYS
* WETLAND DELINF~TION SURVEYS
* AS-BUILT SURVEYS
* TREE SURVEYS
-
GPS SOFTWARE DEVELOPMENT
THE SURVEY DEPARTMENT STAFF OF FDC HAS USED GLOBAL POSITIONING SYSTEM
(OPS) EQUIPMENT FOR SEVERAL YEARS IN THE PERFORMANCE OF BOUNDARY AND
TOPOGRAPHIC WORK. GPS SOFTWARE PROGRAMS, HOWEVER, NORMALL Y REQUlRE
CONSIDERABLE OFFICE WORK TO DOWNLOAD FIELD DATA INTO USABLE
INFORMATION.
RECENTLY DAVE MCDANIEL (PROJECT COORDINATOR AND FIELD OPERATIONS
SUPERVISOR FOR ALL FDC SURVEY WORK) WORKED CLOSELY WITH ALLEN
PRECISION EQillPMENT AND TRIPOD DATA SYSTEMS, TO DEVELOP AND FIELD TEST
NEW GPS TOPOGRAPHIC J T
W
EQB.MAI. THAT WORK IS NOW COMPLETE, AND FDC NOT ONLY HAS ACCESS TO
THE NEW, STATE-OF-THE-ARTSOFfWARE, BUT ASA RESULT OF THE TIME AND
EFFORT OF DA VE MCDANIEL, FDC IS PROFICIENT WITH THE SOFTWARE.
WE BELIEVE THAT USE OF THIS NEW SOFTWARE WILL ENABLE OUR STAFF TO
PERFORM THE REQUIRED WORK WITH LESS OFFICE TIME AND, THEREFORE, ALLOW
A COST SAVINGS TO OUR CLIENTS.
, . \ ! \.\ , ' ..' .", ., 1 \ ,1 I "
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REFERENCES
SOfvffi OF THE PEOPLE FAMILIAR WITH THE CAPABILITIES OF FDC PROFESSIONALS
WHO HAVE EITHER ENTRUSTED THEIR PROJECTS TO FDC, OR WORKED CLOSELY
WITH FDC STAFF TO SUCCESSFULLY COMPLETE ASSIGNMENTS FOR COMMON
CLIENTS, ARE LISTED BELOW. YOU ARE ENCOURAGED TO CONTACT ANY OF THESE
REFERENCES TO VERIFY THE QUALITY OF THE TALENTS OF FDC PROFESSIONALS.
TIM JOHNSON/ED ARMSTRONG
JOHNSON, BLAKELY, POPE, et. al.
911 CHESlNUT STREET
CLEARWATER, FLORIDA 33757
813-461-1818
AL JUSTICE, PRESIDENT
JUSTICE CORPORATION
19329 U.S. 19 NORTH, SUITE 100
CLEARWATER, FL 33764-3156
813-531-4600
NICK SHACKLETON
CLINTON INTERNATIONAL
5550 WEST IDLEWILD AVENUE
SUITE 100
TAMPA, FLORIDA 33614
813-221-6072
CHARLESRUTENBERG
RUTENBERG MANAGEMENT CORP.
3140 MASTERS DRIVE
CLEARWATER, FL 33761
813-786-4310
DREW IRICK
U.S. HOME CORPORATION
311 PARK PLACE BLVD., SUITE 600
CLEARWATER, FL 33759
813-796-0911
BILL LOPEZ
SUNTECH HOMES, INC.
2519 PINE COVE LANE
CLEARWATER, FL 33761
813-726-9190
I.
DOUGLAS DAHLHAUSER, V.P. CONST.
MORTON PLANT MEASE HEALTH CARE
1240 S. FT. HARRISON AVE.
CLEARWATER, FLORIDA 33756
813-462-7003
DALE BLEAKLEY
THE MILFORD CORPORATION
105-H DUNBAR AVENUE
OLDSMAR, FL 34677
813-855-5704
BARBARA WISE, DIRECTOR
BA YVIEW GARDENS
2855 GULF-TO-BAYBLVD.
CLEARWATER, FLORIDA 33759
813-797-7400
ANGIE BEEHLER
W AL-MART STORES, INC.
701 SOUTH WALTON BLVD
BENTONVILLE, ARKANSAS 72716
50i-273-8868
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FOC STAFF HAS SUCCESSFULLY COMPLETED PROJECTS FOR HUNDREDS OF
CLIENTS IN THE GREATER TAMPA BAY AREA. SOME OF THOSE ARE LISTED
BELOW ALONG WITH SEVERAL REPRESENTATIVE CURRENT CLIENTS.
CLINTON INTERNATIONAL -
CLEARWATER, TEMPLE TERRACE
MORTON PLANT MEASE -
CLEARWATER, PASCO COUNTY
JABIL CIRCUIT COMPANY -
ST. PETERSBURG
W AL-MART STORES, INC.-
CLEARWATER (2), LAKELAND (2), BARTOW (1),
HILLSBOROUGH COUNTY (3)
PINELLAS COUNTY (1)
PASCO COUNTY (1)
MANATEE COUNTY (1)
SARASOTA COUNTY (1)
COLLIER COUNTY (3)
LEE COUNTY (3)
TAMPA (1), CAPE CORAL (1), LARGO (1),
PLANT CITY (1), BRADENTON (1)
ZEPHYRHILLS (1)
20M COMtvfUNITIES, INC. -
CLEARWATER, HILLSBOROUGH COUNTY
US HOME CORPORATION -
PASCO COUNTY
TRINITY COMMUNITIES -
PASCO COUNTY
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TAYLOR RANCH, INC. -
ECKERD CORP.-
SARASOTA COUNTY
TAMPA
ECHELON INTERNATIONAL - ST. PETERSBURG
WENDY'S INTERNATIONAL, INC. - CLEARWATER, BROOKSVILLE, PASCO COUNTY,
NEW PORT RICHEY
RUBIN lCOT CENTER - PINELLAS COUNTY
HIGHMARK HOMES, INC. - CITY OF DUNEDIN
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CITY OF CLEARWATER
PlNELLAS COUNTY-
PASCO COUNTY-
CITY OF SEMINOLE-
CITY OF OLDSMAR-
PINELLASCOUNTY
SCHOOL BOARD-
CITY OF PINEL LAS PARK-
WEST COAST REGIONAL
WATER SUPPLY AUTHORITY
CITY OF LARGO
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TRANSPORTATION PLANNING
SUNSET POINT ROAD
KLOSTERMAN ROAD
MISCELLANEOUS PROJECTS
CITY ENGINEERING ASSIGNMENTS
CANAL PARK EXPANSION
MISCELLANEOUS SITES
RECLAIMED WATER SYSTEM
SURVEYING
SURVEYING
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EDW ARD MAZUR, JR., P.E.
PRESIDENT/CEO
Mr. Mazur offers twenty-five years of civil engineering experience for a variety of projects for both private
and public clients. He is one of the founding partners of Florida Design Consultants, Inc. (FDC) and is
responsible for the day to day operations of the firm, business development, project qualhy assurance and
administration for specifically assigned projects. Mr. Mazur was majority owner and president of King
Engineering Associates, Inc., from 1984 through 1993. During 1994 and 1995, Mr. Mazur managed the
infrastructure development for a 255 unit residential development in St. Petersburg known as College
Landings. Mr. Mazur's area of expertise is land development for residential, commercial and industrial
projects. These projects have involved master planning and infrastructure design including water, sanitary
sewer and roadway systems, as well as obtaining all required permits. Throughout his career, Mr. Mazur
has been involved in more than 200 land development projects on the west coast of Florida ranging from
a one acre commercial site to a 15,000 acre residential development.
Significant projects Mr. Mazur has been involved with include:
Countty~ide - An 1800 acre development by the US Home Corp. in Clearwater, Florida. Responsibilities
included the master planning and design of the water distribution and sanitary sewer collection systems.
Mr. Mazur also designed the water distribution and sanitary sewer collection systems for the north section
of Countryside (approximately 1,000 acres) and assisted in the storm drainage master plans for that segment.
SUianniU W oods - Mr. Mazur was in charge of the Master Planning and design of the roadways, water,
sewer, and drainage systems for the 12,000 units of this 15,000 acre mixed use project located in both Citrus
and Hernando Counties, Florida.
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Morton PlimLBospital - Mr. Mazur was the principal-in-charge during the development of master
roadway, parking, drainage and landscaping plans for the downtown Clearwater campus of Morton Plant
Hospital. Mr. Mazur also assisted the college with the acquisition of 100 +/- acres in Pa<;co County, Florida,
to be used by the hospital to develop a new campus. Work included preparation of master plans for
drainage, water supply, and sanitary sewer facilities.
Ridi:emoor - A 100 acre residential project in Pinellas County that involved design and master planning
for the water distribution and sanitary sewer collection systems.
Sumrnerfieki Crossinr:s - Design and master planning for a 2,000 acre mixed-use project in Hillsborough
County, Florida.
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W - Principal-In-Charge for a joint effort between Citrus County, the
Withlacoochee Regional Water Supply Authority and SWFWMD to design and construct a 12 MGD potable
water system including wells, treatment, pumping and storage facilities.
rampa ijay Areawide Water Qualitt.Management Elim. - Developed a plan for the Tampa Bay Regional
Planning Council to control both point and non-point pollution problems in the Tampa Bay area. The
project covered Pinellas, Pasco, Hillsborough and Manatee Counties (approximately 500 square miles).
Master Draiuaie eJan for :e.iMUas County - Developed a master drainage plan for Pinellas County to
determine the required drainage improvements necessary to eliminate the County's flood problems.
Responsibilities mc1uded locating and determining capacities of existing outfall systems, determining culvert
or channels to be improved, locating and sizing possible water retention sites, and compiling quantity
information. Most of the above work was done through the use of a computer program developed for this
project by Mr. Mazur.
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BSCE, University of Texas at Austin, with Honors, 1969
U.S. Army Engineers School - Army Construction & Quality Control Techniques, 1969
Professional Engineer, Florida, #21318, 1975
Professional Engineer, Texas, #40838, 1977
MEMDtRSH~OfESSIO~;\L ORGAr!IZ~ T.IONS
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National Society of Professional Engineers
Florida Engineering Society
Leadership Pinellas, 1982
Leadership Tampa Bay, 1993
City of Clearwater Planning and Zoning Board ,
(Chairman for 3 years)
City of Clearwater Marine Advisory Board
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P. GREGORY SINGLETON, P.E.
VICE PRESIDENT OF ENGINEERING
Mr. Singleton offers thirteen years of civil engineering and land developing experience for a variety of
projects for both private and public clients. He one of the founding partners of Florida Design Consultants,
Inc. and is responsible for the day to day operations of the civil engineering department. Mr. Singleton's
areas of expertise lie in the area of land development for commercial, industrial and residential projects.
These projects have involved master planning, design and intricate permitting. After approximately eleven
years as a civil engineer, Mr. Singleton worked for over a year with a national home builder as a Land
Manager. Mr. Singleton's main task was to critique plans prepared by consultants to determine how project
could be designed more cost effectively. This brief but intensive exposure as a Land Manager has allowed
Mr. Singleton to gain the first hand insight of developers needs. Throughout his career, Mr. Singleton has
been involved in nwnerous projects on the West Coast of Florida ranging from small park projects to large
Development of Regional Impact project~.
Significant projects Mr. Singleton has been involved with include:
labil MW1ufacturin~ Plant - Principal-in-Charge of this 120,000 SF facility located in St. Petersburg, Florida.
Regat~ - Principal-in-Charge of this large adult living facility located in Largo, Florida.
Counttyside ~ey - Land Manager for this 218 unit three phased townhome project located in Oldsmar,
Florida.
~ - Land Manager for this 39 lot single-family subdivision located in Tarpon Springs, Florida.
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Carrollwood Reserve - Land Manager for this 74 lot single-family subdivision located in Hillsborough
County, Florida.
Morton eliml.Mease Health System
. Clearwater Campus - Project Manager in charge of the Master Drainage Plan for Campus.
. Cancer Care Center - Project Manager in charge of the design and permitting of the Health Facility
located in the Main Clearwater Campus.
.. Heart and Vascular Pavilion - Project Manager in charge of the design and permitting of the Health
Facility located in the Main Clearwater Campus.
. Trinity Campus - Project Manager in charge of the preparation of the Water, Sewer and Drainage
Master Plans for this 80 acre proposed Health Facility in Pasco County.
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Crescent Oaks Country cluh - Project Manager for this 425 lot, 850 acre golf course community located
in Pinellas County, Florida.
Bayside Arbors - Project Manager for this apartment community located in Clearwater, Florida.
~ - Project Manager for this 122 lot single family subdivision located within the Lansbrook
Development in Pinellas County, Florida.
City of...cJearwater farks and~ecreation - Project Manager for the miscellaneous project contract with the
city. Projects included: Moccasin Lake Nature Park Classroom, Beach Access Beautification Project and
Forest Run Park.
~ - Project Manager for this 100,000 square foot industrial project located in Clearwater,
Florida. Also Project Manager for the Hampton Road Widening Project which was designed concurrently
with the development.
Gateway Centre - Project Engineer in charge of the Master Drainage Design and Environmental permitting
for this 584 acre commercial/industrial development located in Pinellas Park, Florida.
Beacon W ood~. Em - Project Engineer in charge of the Master Drainage Design and Environmental
permitting for this 900 acre golf course community located in Pasco County, Florida.
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BSCE, University of South Florida 1984
Tau Beta Pi, National Engineering Honor Society
Chi Epsilon, National Civil Engineering Honor Society
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Professional Engineer, Florida, #40244, 1988
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American Society of Civil Engineers
National Society of Professional Engineers
Florida Engineering Society
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ROBERT CLINTON WRIGHT, JR., P.L.S.
VICE PRESIDENT/SURVEYING
Mr. Wright's survey experience spans more than 17 years in the Tampa Bay area and includes all levels of
involvement in field activities, as well as office and management responsibilities. As a result of Mr.
Wright's ability to quickly grasp survey concepts, he was rapidly promoted and became a party chief within
two years of beginning his survey career. For the past eight years he has been in various management
positions and is now in charge of more than 15 survey personnel that provide survey services for both public
and private clients. Tnese services range in complexity from standard roadway construction and boundary
surveys to the more intricate service of direction drill boring. Mr. Wight was instnunental in the acquisition
of Global Positioning System (GPS) hardware and software that has enabled FDC to provide state-of-the-art
services to its many clients through the greater Tampa Bay area.
Significant projects in which Mr. Wright played a key role include:
1.2 mil~ Sand Ke~-fhase IV Erosion Control Line (GPS) - Pinellas County. Project includes
establishment of the mean high water line in accordance with the Department of Environmental Protection
Bureau of Survey and Mapping utilizing Global Positioning System methods.
1.5 miles of Egmont Key (GPS) - Pinellas County. Project includes establishment of horizontal and vertical
control to monitor erosion of Egmont Key utilizing Global Positioning System methods.
2.Jniles Qf Directional Orill Crossing # 1 and #2. Clearwater Harbor - Pin.ellas County. Project includes
horizontal and vertical baseline control, topographic survey and sounding for sanitary sewer force main
directional drill crossings in Clearwater Harbor.
J.3 miles o(Spnset :eojn.tRoad from U.s. 19 to M~Mullen Booth Road - Pinellas County. Project includes
complete right-of-way survey, topographic survey and the preparation of legal description and sketches for
acquisition parcels.
fiill;llas County Aeti~otogra~ - Pinellas County. Project includes the establishment of ground controi
for positioning aerial photography (camera in airplane) using Global Positioning System (GPS) methods in
conjunction with Pinellas County Survey Depattment and the Florida Department of Transponation.
~ark Reclaimed Water Line :ehase III - Pinellas County. Project includes detailed topographic
survey within existing light-of-ways. Over eight miles of roadway to obtain base data for City of Pinellas
Park Utility Design Divisions engineering of the reclaimed transmission line.
~les of L.il:tk..Road from State Road 54 to Decubilis Road - Pasco County. Project includes complete
right-of-way survey, topographic survey and the preparation of legal description and sketches for acquisition
parcels.
d 000 feet west of A1.L_J 9 to US lli.ghway 12 - Pinellas County. Project
includes complete right-of-way survey, topographic survey and the preparation of legal description and
sketches for acquisition parcels.
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Dunedin High School- general curriculum
Pinellas Vocational Technical Institute, Survey Curriculum and Computer Curriculum
University of South Florida in conjunction with Hillsborough County College, Geodetic and Control Survey
Professional Surveyor and Mapper, Florida #4965
Tampa Bay Chapter of the Florida Surveying and Mapping Society
Florida Surveying and Mapping Society
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ROBERT C. PERGOLIZZI, AICP
VICE PRESIDENTffRANSPORTATION PLANNING
Mr Pergolizzi has conducted numerous transportation studies in Hillsborough, Pinellas, Pasco, Hernando,
Collier, Sarasota., Lee, Manatee, Polk and Citrus Counties. 1l1ese studies include site impact analyses, traffic
engineering and traffic operations studies, transportation analyses for DR! submittals, roadway capacity
analyses and alternative corridor/alignment studies. He also prepares signal warrant studies and plans in
accordance with MUTCD and MUTS procedures. Mr. Pergolizzi has also served as a transportation planner
with the Hillsborough County Metropolitan Plallning Organization where he conducted nwnerous studies
and prepared reports to assess traffic impacts of amendments to the long-range transportation plan. He is
familiar with the latest transportation software including FSUTMS, Highway Capacity Software (HCS),
FDOT Capacity Software, SIGNAL94, SOAP, PASSER, TRANSYT-7F and CINCH.
Significant projects in which l\1r. Pergolizzi played a key role include:
DRI Traffic Studies
Summe~d Crossinll D..RI..J3iannuat...Imffic Analysis
~ace D}iUraffic Anal~sis - Clearwater
Salt Springs Run D1ll..I.mffic Analysis - Pasco County
limber eines Soutl:1..QRl Traffic Analysis - Pasco County
Timber Pines QRI Expansion - Hernando County
lC..QJ Center Im.I...Imffic An,~Jysis - PineUas County
Roadway Corridor Planning! Alternative Systems Studies
L.vnn Turner Road - Hill~borou~h County
~xtension - Citrus County
Drew Str~et - Cl.earwater
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~86 ConnectQr Road - Citrus County
Qiwlen State earkway Comprehensive ~ew Jersey
Atlantic City ExpresswaylRoute 30 Connector - New Jersey
City oLTat:Pon Springs Traffic Circulation Element Update - Tarpon Springs
Traffic Operations Studies
MF.QJransportation fJan Amendment Studies - Preparation of numerous studies (Westshore Boulevard,
. Sligh A venue, Lakewood Drive, Lutz EfW Road, Park Road Extension, Ehrlich Road Extension) for
roadway plan amendments.
~oadlBroo~Road Intersection Improvements - HiUsborough County
U.S. 3QJ.LfID.mJliver Road Intersection Improvements - Hill~borough County
~s RoadlRoserneadJ...ane Jntersection Improvements - Hillsborough Coun~
Bruce B. Downs BmllevarcilI.&kUorest Driv~ Intersection Improvements - HilJsborough C9unt~
Starkey Road/UQth Avenue Si~~ Warrant Analysis - Pinellas County - Conducted a traffic signal warrant
analysis in accordance with MUTCD procedures. Established optimal signal timings and conducted arterial
analysis using HCM procedures.
lllmerton Road Concurrency Imffic Analysis - Pinellas CoYlUY - Detailed traffic operations analysis of 1.2-
mile segment of Ulmerton Road between W. Roosevelt Boulevard and E. Roosevelt Boulevard.
~ore Boulevard Concurrency Traffic Analysis - D_unedin
U.S. 19 Concurrency Anatysis ~~as County - Prepared a traffic analysis to demonstrate existing levels
of service on U.S. 19 in northern Pinellas County. The work effort included HCM intersections and. arterial
analysis and report preparation recommending intersection improvements.
Venetian lksklentia~opment - Sarasota CountJ
w - - Traffic studies for rezoning and FDOT permits for numerous facilities in Pinellas,
Hillsborough, Pasco, Manatee, Sarasota, Lee and Collier Counties
Morton f.lml1HospitaLMaster :Plan - Clearwater Campus
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Master of City and Regional Planning, Rutgers University, 1987
Bachelor of Arts, Environmental and Urban Studies, Montclair State College, 1985
Successful completion of128 hours of training conducted by the Federal Highway Administration and the
Florida Department of Transportation on Urban Systems Modeling, Transportation Planning and Site Impact
Analysis
Graduate course work in Traffic Engineering, University of South Florida
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1990 Florida Institute of Transportation Engineers Past Presidents Award for Technical Paper submittal
Jjnsignalized Intersection Analysis on Elarida's OiYkkd ArteJjals
American Institute of Certified Planners
Institute of Transportation Engineers
American Planning Association
Tanlpa Bay FSUTMS Users Group
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DAVID WILLIAM MCDANIEL
PROJECTS SURVEYOR
Mr. McDaniel's experience spans more than twenty seven (27) years in the state of Florida and beyond and
includes all levels of involvement in field activities, office activities, as well as management responsibilities.
This experience has been gained on many large high profile project involving governmental agencies as well
as private concerns. Mr. McDaniel's versatility in the surveying profession from field efforts to the final
survey product and his involvement in GPS technologies enables Florida Design Consultants, Inc. to provide
a numerous variety of survey capabilities to its many clients throughout the state of Florida.
Significant projects in which Mr. McDaniel played a key role.
Construction Survey - HeavylHighway:
Survey calculations, field layout and quality control for all phases of construction.
s.m.u.b Cross Bayou Yvaste WateLTreatrnent elant ~las County)
l:1.5J-275 Interchan~~ - (Manatee COlmty)
Section 2.1 Crosstown Expressway - (Hillsborough County)
Cbann~l 5 S<:gmentaLBri~ - (Monroe County)
,LQn~ Key (3 mile~) SeirnentaLBrid~ - (Monroe County)
~annel SegUlentaLBridge - (Monroe County)
Harris CbanneLBridies - (Monroe County)
1-85 1-585 Interc~ - (Charleston, SC)
. wa. w v e i - (Manatee, Hillsborough and Pinellas Counties.)
Cape Coral~ Span Bridge - (Lee County)
Construction Survey - Minor:
Survey calculations, field layout and quality control for all phases of construction.
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Gtand~lopment (Easco County)
Timber Pines (Hernando County)
Countrysid~as Coun~)
Right-of-Way Survey:
Complete right~f-way survey office and field operations including topographic survey and preparation of
legal descriptions and sketches for acquisition parcels.
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Control SUn'ey:
EJorida Coas(al Survey - established horizontal and vertical control ("R" monwnents) at 1,000 foot intervals
along.Florida's Coastline for use by the Department of Environmental Protection f.k.a. The Department of
Natural Resources.
v - establish horizontal and vertical control monuments using Global
Positioning System (GPS) methods for the erosion control line survey.
~ - establish horizontal and vertical control monuments using GPS methods for use by Pinellas
County Survey Department and the University of South Florida Marine Geology Department
f.indlas County ~hotography with GPS - establish and support ground control for positioning aerial
photography camera (in airplane) using ,GPS methods in conjunction with Pinellas County Survey
Department and the Florida Department of Transportation.
~. W e - establish horizontal and vertical control approximately every
1000' for 48,000 linear feet in various areas of PineUas Park using Real Time Kinematic GPS Methods.
Hydrographic Survey:
Establish baseline control (horizontal and vertical) and take' soundings for bottom topography.
Elorida Power OlQ.smar elwU..Jurn Around]3asin
Directional..D.ri.llJ:rossing #Umd #2. ClearwateLHarbor
Harborview Dredge PrQject
Power Transmission Line Surveys:
Tower and line heights and location of obstructions within the planned sag and blowout.
Piedmonte- Sorrento 'transmission Line Relocation (Orange County)
J 32 mikJransmission Line Survey Houston Light and Power (Houston. Texas)
Boundary and Topographic Survey:
Survey calculations, CAD drafting and field work necessary from section swveys to subdivision lot surveys.
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r .lity (Hardee County)
9 AcreJiy~J Site (Sumter County)
300 Acre Site (Sarasota County).
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SOO Acre Site (Hillsborough County)
700 Acre Site (Pasco County)
Numerous minor surveys
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S1. Petersburg High School - advanced curriculum
S1. Petersburg Junior College - engineering curriculum
Pinellas County Vocational and Technical Institute - surveying and survey math curriculum
Continuing Education Seminars - minimum technical standards, Florida Law
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JAMES V. JOHNSON
COMPUTER MANAGER
Mr. Johnson is responsible for the management of our Local Area Network as well as the
management of our desktop applications and workstations. In addition, Mr. Johnson is responsible
for the installation of all hardware and software as well as the maintenance of data archives and
quality assLmUlce for our CAD department. Mr. Johnson also has a significant amount of experience
and training as a Senior Technician, and, therefore, assists both in the Survey and Engineering
departments.
The design, coordination and installation of a Novell IntraNetware LAN currently supporting 30
workstations and a variety of printers and plotters.
The design, coordination and installation of 3 Novell Netware Local Area Network servers, more
than 75 workstations and all software.
The management of 4 Local Area Networks supporting more than 125 workstations.
Provided company wide training for AutoCAD r.13, Softdesk and Windows.
The creation of Coordinate Control Maps and Record Plats for Timber Pines Expansion and Timber
Pines Addition, both master planned developments consisting of over 1,700 lots. .
The creation of a five-mile right-of-way survey on County Line Road, from U.S. Hwy. 19 to the East.
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Data Flex Corporation - NetWare 4.1 Adnlinistration
Data Flex Corporation - Certified NetWare Administrator.
AutoDesk University - Level II Certification
A TI Computer Career Training Center - Certified Drafting and Computer Aided Design.
Palm Beach Community College - Fulfilled a one year course in Land Surveying I
A member of Tampa Bay AutoCAD Users Group since 1992.
A member of North American AutoDesk Users Group since 1994.
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RICHARD D. HARRIS, SR., P.E.
SENIOR PROJECT MANAGER
Mr. Harris has extensive experience in project management for land development and roadway projects and
has been involved in all phases of land development in the Tampa Bay area for more than 15 years. His
assignments as a civil engineer include the design of paving, grading, drainage, sanitary sewer and water
supply plans; also, the preparation and processing of permits, construction management and observation.
Mr. Harris has worked with all major stormwater modeling software, including ADICPR, TR20, HEC 1 and
2, and others.
Significant projects Mr. Harris has been involved with include:
Venetian DevelQpment - Site development for a 400 lot, 322 acres single family residential project in
Venice, Florida.
~ - Site development for twenty-five 100,000 to 200,000 square foot retail stores in the state of
Florida.
Site development for Wendy's restaurants in the State of Florida.
Osprey Point - Site development for an 8 lot tidally-influenced waterfront residential subdivision in Crystal
Beach, Florida; including stonnwater quality permitting for outflow into outstanding Florida waters.
Qlearwater Marketplace - Site development for a 178,000 square foot retail complex in Clearwater, Florida;
including stonnwater quality permitting for outflow into Alligator Creek.
:Piper~}t1eadow - Site development for a 229 lot, 123 acre single family residential community in Palm
Harbor, Florida; including stormwater quality permitting for outflow into Curlew Creek.
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Dimmitt Auto MaIl- Site development for a:l:l 0 acre car dealership in Palm Harbor, Florida.
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B.S., North Carolina State University, Raleigh
Civil Engineering, 1978
Honors: Chi Epsilon Honorary Fraternity
Registered Professional Engineer, Florida, #36093
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PAUL A. BELLHORN, P.E.
SENIOR PROJECT MANAGER
Mr. Bellhom has more than 25 years of experience in roadway design and site development work. The
majority of his work experience involves the management of projects within the Tampa Bay area, some of
which are listed below.
- Pinellas County. Project includes
complete roadway design to replace a two lane roadway with a four lane divided roadway. Project included
survey, traffic study, roadway design, drainage, signing and pavement marking, traffic control plan and one
major intersection design at McMullen Booth Road that included addition of a double left turn with
signalization.
lntersection im,provement at ~osterman Road and U.S. 1.2 - Pinellas County. Project includes the design
of 0.5 miles of four (4) lane divided highway and the addition of a double left turn on u.s. 19 and
Klosterman Road. The project included road design, drainage, signing and pavement marki~g and
signalization.
J.J 6 miles ofLittl~.Road.from SI~assachusetts A venue - Pasco County. The project includes
survey road design, drainage signing and pavement marking, traffic control plan, five signalized intersection
designs and a 106 foot bridge.
1.03 miles ofJ(losterman Road from Alt..l2 to V,Sl 12 - Pinellas County. The project includes traffic study,
survey, roadway design drainage, signing and pavement marking and traffic control plan.
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B.S. in Civil Engineering, Michigan State University
n<<lfESSIQN,AL REG ISTRA T---IDlS:
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Professional Engineer, Florida, #31343
Professional Engineer, Michigan, #20815
American Society of Civil Engineers
Society of American Military Engineers
Florida Engineering Society
Member of Tampa Bay Regional Planning Council
Steering Committee on Transportation
itA Y D. GUSTAFSON, P .E.
SENIOR PROJECT MANAGER
Mr. Gustafson offers over 20 years of civil engineering and surveying experience in both the public
and private sectors, and for a variety of projects public and private. His areas of expertise are in land
development and roadway design, with a specialization in drainage and floodplain management.
These projects have involved conceptual and master planning, design, and conceptual and
construction permitting. Mr. Gustafson worked for over five years in a municipality near Chicago,
Illinois reviewing development plans, surveyingy performing master utility studies, and designing
and managing capital improvement projects. Since moving to the Tampa Bay area, he has served
as Survey Manager, Project and Senior Project Engineer, Project and Senior Project Manger, and
Land Development Manager for several engineering finns in the area., developing sites from one-haIf
to 800 acres, roads from 300 feet to 2.5 miles, and analyzing drainage areas from one-half to 2,000
acres.
EIS.CE
Significant projects Mr. Gustafson has been involved with include:
Thousand O~ - responsible for the master drainage design and permitting and subdivision plan
preparation for this 1200-unit development within the Duck Slough in Pasco County, Florida.
Jimber Greens - responsible for the master drainage design and permitting and subdivision plan
preparation for this SOD-unit golf course development along the Pithlachascotee River in Pasco
County, Florida.
Ed~ewood - responsible for the master drainage design and permitting for this 650-unit golf course
development along the Pithlachascotee River in Pasco County, Florida.
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Morton P.Iant Mease I:ka.lth System
· Clearwater Campus - responsible for the development of the Master Drainage Plan for the
Campus
· Trinity Campus - responsible for the development of the Master Drainage Plan for this
80-acre developing health facility in Pasco County.
.c.R 44/486 Extension - responsible for the drainage analysis, pcnnitting. and roadway design of this
2.4-mile roadway in Crystal River, Florida.
~ - responsible for the master drainage and grading, permitting. and subdivision design
for this residential golf course community, home of the PGA's J.C. Penney Classic, in Hillsborough
County, Florida.
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~ - responsible for the design and pennitting of this ISO-unit subdivision with 50 acres of
man-made lakes. (1.3 million cubic yards of borrow) on a 120-acre site in Hillsborough County ~
Florida.
:Picnic ~e~Jarnation - responsible for the permitting and construction in reclaiming 600 acres
of phosphate Inine in Hillsborough County, Florida.
- responsible for the design, permitting, and construction of this shopping
center in Pinellas Park, Florida.
Counttyway - responsible for the master drainage design, permitting, and subdivision plan
preparation, along with 1.2 miles of collector road, for this SOD-acre golf course community in
Hillsborough County, Florida.
- responsible for the design of this 1.5 mile roadway in Pasco County, Florida.
Oranfle River Estates - responsible for the master drainage design and permitting and subdivision
, plan preparation of this 300-unit subdivision along the Hillsborough River in Hillsborough County,
Florida.
Yillage oLB.Yf:fulo Grove Water System - responsible for the redesign of a distribution system for
a population of25,000, converting from 7 well sites to 4lakewater reception and redistribution sites.
EllJ.LCAIlQ.N
BS-SMF, University of South Florida, 1978
Professional Engineer - Florida #37565, 1986
Illinois, 1982
, ,fROFES I
l.
National Society of Professional Engineers
Florida Engineering Society
Past President - Forest Chapter
Treasurer and Founding Member - Nature Coast Chapter
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JAMES H. HUNTING
ENVIRONMENTAL CONSULTANT
Mr. Hunting has over 11 years experience providing environmental and consulting services on a wide variety
of projects in Florida. His responsibilities include: Wetland jurisdictional delineations, mitigation plan
design, dredge and fill permitting, habitat assessments, wetlands storm water design, surface water system
design, u.s. Army Corp of Engineers permitting and environmental assessments. Relevant experience
includes both public and private projects.
EN
Significant projects Mr. Hunting has been involved with include:
Sta~ecoach Village - 760 acre residential sub.division - Pasco County. Wetland delineation, dredge and fill
permitting, mitigation design and wetland" stormwater discharge permits.
The Oaks ~OO acre residential subdivision - Pasco County. Wetland delineation, dredge and fill
permitting and mitigation design.
Sunset Point Road - -.J.3 mile road improvement - Pinellas County Dept. of Public Works. Wetland
delineation, D.S.C.O.E., F.D.E.P. dredge and fill, mitigation design and surface water permitting.
I - Pasco County, Adam Smith Enterprises. Wetland delineations, U.S.C.O.E
and F.D.E.P. dredge and fill permitting, mitigation design, sovereign submerged land easements, bridge
expansion and habitat assessments.
Dansvi~borhood Improvement Project - Pinellas. Pinellas County Community Development
Department, Phase I Environmental Assessment.
I.
Qihla.Properties. Inc. - Hillsborough County. 40 Acre Upland Habitat Assessment, Wetland Delineations-
Rezoning.
Certified Environmental Inspector
Environmental Assessment Association
MEMBERS~ESSIQNAL ORGANIZATIONS
National Society of Environmental Professionals
Florida Society of Environmental Professionals
Florida Lake Management Society
Florida Conservation FOlmdation
. I' .~. "
Construction +
Cost Consultant
Since 1972 Justice Corporation has operated
throughout Florida in every aspect of
commercial real estate: leasing,
management, brokerage, consulting and
development.
When your commercial real estate
requirements include the Sunshine State, call
Justice Corporation. We hope you'll give us
, the opportunity to demonstrate the expertise
that has earned us the title:
The Commercial Real Estate Professionals
l~~ JUsrlCE
.. CORPORATION
The Commercial Real Estate Professionals
19329 U.S. 19 North, Suite 100
ClealWater, Florida 34624
Telephone: (813) 531-4600
Florida Toll-Free (800) 226-4226
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Electrical Engineer
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M. P.
CON S
685 MAIN
(813) 726-3001
SPYCHALA
ULTING
ST. . SUITE D .
& ASSOC., INC.
E N GIN E E R S
SAFETY HARBOR, FL 34695
FAX (813) 725-2602
....
--
LETTER OF TRANSMITTAL
TO:
Aude Shand & Williams Architects DATE:
19353 US Hwy. 19 North RE:
Suite 101
Clearwater, FL 33764
January 2, 1998
Marketing Informatlo n
ATTEN:
Project No: N/A
WE TRANSMIT:
[ ] Herewith [ ] Under separate COWl"
[ X ] Hand Delivery [ ] Courter Delivery
FOR YOUR:
[ J Approval [ ] Distribution to parties '
[ ] Information [ ] Review and co mment
[ ] Record [ X ] Use
THE FOLLOWING:
[ ] Prints [ ] Shop Drawings
[ ] Specifications [ ] Original Drawings
[ ] Change Order [ ] Product Literature
[ ] Submittals [ X ] Other
coPies
DATE
DESCRIPTION
1
1
Company brochure
Resume - office building experience
REMARKS:
BY: Cathi Blaney
Financial Administrator
INIT:
C6
M.P. SPYCIIALA a ASSOCIATES, INC.
CONSULTING ENGINEERS
M.P. Spychala & Associates, Inc. provides electrical engineering consultation, analysis and
design seIVices for the construction industIy. In addition to design services we have the
ability to perform simulated energy analysis, energy code compliance evaluation and
construction feasibility and planning studies using computer techniques to make
recommendations which are cost effective and practical. Other services offered include
energy control system evaluation, comparison and specification; computer based metering
and testing; cost estimation and value engineering.
Our staff has had many years of experience in design and analysis of new and existing
building systems. We have performed projects of widely ranging complexity for numerous
government and private clients. Each project is given careful attention to determine the
most effective blending of our expertise.
Engineering design for new and existing buildings
State and Local Electrical Code Compliance
Energy code compliance evaluation
Construction feasibility and planning studies
Computer energy analysis for new and existing buildings
Energy control system evaluation, design and specification
Energy management research and analysis
Computer based energy metering and testing
Cost estimation and value engineering
."" {
. -
EnerrY Ana~stin~ Facilities:
Comprehensive surveys and analysis can be pedormed to identify the conservation potential
of all major energy consuming equipment. The savings and costs associated with each
proposed conseJVation project can be fully quantified, documented and placed in a
comprehensive master plan. The results from an organized approach can be beneficial.
Complete analysis of proposed construction is offered as a tool in designing energy efficient
buildiJig systems. Assisted by computer analysis techniques, a thorough economic evaluation !
can assure the most practical balance between systems first costs and long term energy costs.
There is usually no way to reliably calculate the flow of energy within a facility. Since
accurate sub-metering of energy data is almost non-existent, energy analysis often becomes
nothing more than an educated guess. Even a sophisticated computer energy simulation can
do little to off-set the effects of bad data.
We can provide a program of system testing and metering aimed at revealing inefficient
equipment operation and control. The output of metering devices may be connected to
either strip chart recorders or computer compatible tape recorders. Long or short term
energy data can be recorded in the field and compiled on computer tape. This information
can be studied and extremely accurate energy use profiles can be generated.
C~~VALUEENGINE~RING:
We can provide estimates of the cost of construction for the types of systems designed by
our firm. We can also help establish a budget or evaluate an existing budget to determine
if a project is affordable. Along this line of reasoning it follows that we have the ability to
make cost saving suggestions to help bring the costs of construction back to a level
consistent with the budget. This value engineering can be a great benefit when a project
goes over the acceptable spending limits.
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These services typically include preparation of drawings, specifications, shop drawing review
and construction administration.
EJectricaLEn~neerin&;.
Setvices are offered for design and specification of all electrical systems including lighting,
power, communications, computer u.P.s. systems, security, fire alarm and lightning
protection systems. Our electrical designs are fully integrated and coordinated with other
disciplines to provide the most trouble free construction possible.
Our design department utilizes the most advanced personal computers available at this time
to achieve computer aided design and drafting of construction documents.
RfflRGY CO~~CE EVALUATION:
Analysis and evaluation of proposed construction can be performed to insure compliance
with applicable energy codes. Through computer analysis, a preliminaI)' building may be
analyzed to reveal potential code violations early in the design process.
AND PLANNING S11JD1ES:
Feasibility analysis is offered to assist in evaluating potential construction and renovations.
Site investigations of existing electrical systems provides valuable input to projects in the
early planning stages.
COMPlJfElUZED ENERGY ANALYSIS FOR NEW AND EXlSl'JNG BUJU)):NGS:
Accurate evaluation and comparison of energy conselVing measures in new or existing
buildings may be done using computer programs. These programs provide a sophisticated
monthly analysis of energy use for major energy ~ystems. It allows us to provide sound
recommendations on energy related design problems.
Electronic energy control systems offer a much improved means of managing energy use.
Selection of these systems can be confusing to the novice due to their complexity. We can
provide specification development, vendor proposal comparisons and proposed control
technique analysis to help assure that the best overall system is obtained.
. '\ I I \ 41 I I I \
, ,
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MICHAEL P. SPYCHALA, P.E.
M.P. Spychala & Associates, Ine.
YEA.IlS OF EXPERIENCE
Total Years: 20
Years with Spy~ha1a: 13
CURRENT REGISTRATIONS
Regi~Jed Flaida ~tzica1
Engineer. PE W315~
Alabama
Arizona
caorado
Oeorgia
I11incis
Indiana
Iowa
Kansas
Massachusetts
Mi~bi~
Nevada
'reDs
Temessee
Wi8:00Qn
Representative pro~ts indude:
2DUCATlON
Bachela c:l Science in B~trlca1
Engineering. Marquette University.
1977
PROFESSIONAL AFFILIATIONS
Natiooal Society of Prc&ssioml
Bnglneers
American Consulting Engineers
~i1
Naticm1 Fire Protection Association
Profe&g,coa1 En.e;neem in Private
Prcl~tic::e
Flaida Bn~ Society
Flaida Institute d Coosu11ing
P.ngineem
EIe~trica1 Council of Flaida
Pine11as County Calstruction
Ucemmg. Beard
PROFESSIONAL EXPERIENCE
:Mr. Spychala is ll'esident and owner of the fi1m.
providing electzical engineering consu!ting for projects
throu~ the country.
M P. Spychala & Asoociates specializes in Ule design d
ligbtin& power distribution. communications, ~urlty.
fire alaam and computer networking s}'S~ms. Mr.
Spychala has done both new and renovation type office
building pt~ts.
OJ!ke Bui1tfnp
Belleair Oaks Offi~e Bulding
Backe ani Helm Office Building
Square ~D" O:mpany
Candler, Sawyer and Associates
K1eirfeld & Fishback Law Office
Earle & Earle Law Office
StirHng Plaza <>ffi<:e Ccmplex
A.C. Nielsen Company. Building No. 3
The Domti Building
E1e vator Anoouncer Inc.
Glendale Fedeta1 Bank
Enerprise Office Building
JabU Clr~uit Compmy .
UA W Le~ Service
First Florida Bank
Juran & Moody Suite
Salvatioo Army
American Cancer Society
U~thouse Point Office Building
Brandon CrO$ing Building
Lar~ Narrows Pa%k Building
HRS Office Building
Pioneer Federal Bank
Oeooex-Marte.t Compmy
Bayplnes Office Building
State Farm Insurance
Ref1ectooe Office Building
0W0me. Hawkins. f\.icLaren. RedtJave Law Office
Fernandez Law Office
Pinel1as County Brnplo:yees Credit Union
Barclays Armrlcan ~t{glse Company
Met Ufe Inatrance Companny
Merrit & Mason Law Office
First Home M:l11~
Medtrooic SUite.
Paradyne. Capcxation
Kenyon Office Building
IDS Suite
Spirtc6 Realty
American Modern Insurance
Greentree M<XtgJi~ Compmy
McCoy Realty
Landmuk Unioo. Bank
Biodyne &tite
W.C.D. Rnanclal (Jroup
Pol }'Chrome &tite
Bank of Rodda
Viking Engineering
Pt. Harris:a Office Building
Pasco County Govemment Center
Coaclmin Building
Sun Bank at Mease Manor
Tampa Bay Engineering
Market Street Mxtgage Company
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STATEMENT
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QUALIFICATIONS
Dee CON S T Rue TOR 5, INC.
355 SOUTH COUNTI ROAD 427, LONGWOOD, FLORIDA 32750
PHONE 407/834-3300 ~\ FAX 407/332-9305
1835 PURDY AVENUE, MIAMI BEACH, FLORIDA 33139
PHONE 305/531-7010 .1 FAX 305/531-5740
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GATEWAY INDUSTRIAL PARK
ST. PETERSBURG. FLORIDA
DCC Constructors, Inc. served as the Construction Manager and General Contractor for
this highly-acclaimed, I 35,OOO-square-foot headquarters building. The three-story structure
was designed by Reefe Yamada & Associates and features technologically advanced
communications and research facitilities, as well as training and technology labs.
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TAMPA. FLORIDA
Located in Tampa'5 Westshore area, this 12-story office' building has a pan joist concrete
frame, below grade parking and precast concrete spandrel panels. The structure contains
170,000 square feet of office space and was designed by Odell Associates~ lnc.
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Dee
CONSTRUCTORS
MAITLAND FORUM OFFICE BUILDING
ORLANDO (MAITLAND), FLORIDA
The four-story Maitland Forum Office Building has a cast-in-place concrete frame and
a gold-plated glass curtain wall. Designed by Hamill & McKinney, the building
contains 280.000 square feet of office space. The contract was for both construction
management and general contracting services.
.
Dee
CONSTRUCTORS
CENTURY PlAZA/SOUTHTRUST BUILDING
(FORMERLY THE FIRST BANKERS BUILDING)
DOWNTOWN ORLANDO. FLORIDA
Located in tlIe heart of downtown Orlando, Century Plaza features an aluminum panel
and glass composite Curtain wall and a PSI structure. Built for Morley Properties,
Inc., the I2-story office tower contains 170,000 square feet of office space.
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CONSTRUCTORS
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FIRST UNION TOWER
DOWNTOWN ORLANDO, FLORIDA
This 16-story bank building in'downtown Orlando contains 300,000 square feet of office
space and was designed by Haas & Reed. Built for Equitable Realty JV (Demetree
Builders) in Orlando, the tower was completed in 13 months and features a steel frame
and pile foundation. The contract was for construction management and general
contracting services.
"
Dee
CONSTRUCTORS
ARDEN HILL MEDICAl CENTER
ORLANDO, FLORIDA
Arden Hill Medical Center currently houses a variety of medical practices and labs, with
tenants specializing in orthopedic surgery, cardiology, physical therapy and a number of
other areas. This $1.5 million project contains 26,000 square feet in two stories and was
designed by Interrante & Associates.
.
Dee
DCC Constructors, Inc.
rhe !vIelster Ullilcler
Comtru.::tiun ~tJnJgcmcnt
Gmcral Contracting
DcsignlBuild ~cr\'kc~
Profc\sionJI COlhulting
Corporate Headquarters
355 S. County Road 427
Longwood, FL 32750
P.O. Box 5211q~
Longwood, FL 32752
407/R34-3300
407/332-lJ305 (fax)
PROJECT EXPERIENCE
1985 - PRESENT
South Florida
1835 Purdy Avenue
Miami Beach, FL 33139
305/531-70 I 0
305/531-5740 (fax)
........
1998 Location Description ConJract
(millIOns)
Sunset Harbour Miami Beach, FL 26-story, 212-unit condo with $22.3
South Tower .. 600 prkg spaces on levels 1-6
1997 Location Description Contract
(millions)
Westin Resort Miami Beach Miami Beach,FL Extensive interior/exterior $12.0
Remodeling .. renov. of I8-story, 417-room (Est'd)
resort and covention center
U.S. Astronaut Hall of Fame ,. Titusville, FL 13,500 sf interactive space and $1.6
science museum
WonderWorks .. Orlando, FL 3-story, 32,000 sf themed $3.0
attraction
Administration Center Orlando, FL 6-level, 8S0-space garage with $9.9 D/B
Parking Garage .. 10,000 sf of office space
Courtyard by Marriott at Orlando, FL 4-story, 123-roorn hotel $4.5
Collegiate Square It
Sunset Harbour Miami Beach, FL 26-story, 228-unit condo with $22.0 CM
North Tower 453 prkg spaces on levels 1-6
Edisto Lake Apartments Fort Myers, FL 25-building, 376-unit apt. $16.28
complex with clubhouse
· under construction
D/B: design/build
eM: construction management
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· under construction
D/B: design/build
eM: construction management
PAGE 2 OF 7
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CONSTRUCTORS
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PR.OJECT EXPE RIENCE 1985- PRESENT
~1
1994 Location Description Contract
(millions)
.
Walden Pond Apartments North Dade County 14-building, 2 & 3-story. $7.5
Miami. FL 290-unit apartment complex
The Don CeSar Beach Resort St. Petersburg Beach. FL Extensive internal and external $2.5
Phase I Remodeling renovations
Ocean Club Condorniniums Jupiter, FL 8-story, 48-unit condo $7.0
St. Andrews at Palm Palm Beach Lakes. FL 3-story. 200-unit apartment $6.2
Beach Lakes complex
~
1993 Location Description CORJract
(mi Ions)
The Glenview at Pelican Bay Naples. FL 12-story. 140-unit life care $21.3
Life Care Condominium condo with skilled nursing
The Landings at Timberleaf Orlando. FL 240-unit apt. complex $6.8
Andover at Wycliffe Lake Worth. FL 2-story, fourplex bldgs. with $0.36
Country Club garages, 9,000 sf each
Seagrape Village Homestead. FL 2-story, Il2-unit apt. complex, $2.8
hurricane renovation
.'
Casa Marina North Bay Village. FL 3-story. 162-unit apt. complex. $0.9
hurricane renovation
.
19~2 Location Description Contract
(millions)
The Arbors at Lee Vista Orlando. FL 3-story, 338-unit apts. $11.3
lo-Ann Fabrics Orlando. FL fabric store, tenant finish $0.28
Freedom Plaza Life Care Sun City Center, FL 7 -storv, 600,000 sf. $25.8
,
Condomin i urn 350-unit life care condo
Jo-Ann Fabrics Plant City, FL fabric store, tenant finish $0.12
Carrot Tops Jacksonville, FL gourmet foods store. tenant fin. $0.4
The Arbors at Kirkman Park Orlando, FL 3-story, 370-unit apts. $11.9
Galaxy Cheese Food Orlando, FL 55,000 sf renovations and $2.0 DIB
Processing & Distribution storage addition
.. under construction
D/B: design/build
eM: construction management
P AG E 3 0 F 7
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CONSTIlUCTORS
.
PR.OJECT EXPERIENCE 1985- PRESENT
1991 Location Description Contract
(mi ions)
l.
Stonebrook Apartments Orlando, FL 3-story, 244-unit apts. 57.1
Buena Vista Palace Suites Lake Buena Vista. FL 6-story, 200-suite addition to $11.6
Hotel - Disney W orId Village 27-story hotel
Renaissance at Lake Ivanhoe Orlando, FL 7-story, 36-unit, 200,000 sf $8.9
Condomin iums luxury condo
Meter Eater Park 'N' Play Orlando, FL 4-story, 530-car garage with $4.5
Garage restaurant & daycare
Lake Tivoli Apartments Kissimmee, FL 3-story, 312-unit apts. $9.3
(Fountainhead II)
Pine Club Apartments. Ph. II Orlando, FL 2 & 3-stor)', 160-unit apts. $4.7
Merritt Towers Merritt Island, FL 8-story, 64-unit condo $4.9
Condominiums, Phase III
p- -
1990 Location Description Contract
(millions)
Radisson Suites Resort Clearwater Beach, FL lO-story, 220-suite luxury $10.0
at Sand Key resort & marina
.f
M.C.I. Headquarters St. petersburg. FL 130,000 sf headquarters office $8.3
Gateway Industrial Park building (high tech)
Holiday Inn Hotel Kissimmee, FL 6-story, 292-unit hotel $6.2
Disney Maingate
Collegiate Village Inn Orlando, FL 3-story, 260-unit dorm. $6.0 eM
Howard Johnson's Lake Buena Vista, FL 3-story, 68-unit addition 51.9
Park Square Inn, Phase II
Los Altos Apartments Orlando, FL 2 & 3-story, 328-unit apts. $9.4
Crane's Landing Apartments Orlando. FL 3-story, 252-unit apts. $7.3
Comfort Inn Orlando, FL 2-story, 84-unit addition 51.9
1989 Location Description Contract
(millions)
Pine Club Apartments, Ph. I Orlando, FL 2 & 3-sto11', 312-unit apts. $8.9
Renaissance Shopping Centre Orlando, FL Mixed-use specialty retail $15.0
.. under construction
D/B: design/build
eM: construction management
PAGE 4 OF 7
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CONSTRUCTORS
PROJECT EXPERIENCE 1985- PRESENT
Sunrise Village Titusville, FL 2-story, 80-unit condo $1.8
~
Hyatt Key West Key West, FL 5-story, 120-unit waterfront $9.4
Resort & Marina resort in The Florida Keys
Indian River Plantation Hutchinson Island, FL 4-story, 20D-unit luxury $9.4
Resort Hotel resort hotel
Park South Apartments Orlando, FL 3-story, 400-unit apts. $8.5
The Cheeca Lodge Resort Islamorada (The 16-building resort villas & $13.9
Florida Keys), FL 4-story lodge renovation
Austin Center South Tampa, FL 12-story, 170,000 sf office $6.0
Howard Johnson's Lake Buena Vista, FL 3-story, 240-unit hotel $5.3
Park Square Inn, Phase I
Riverbend Condominium Hutchinson Island, FL 5-building, 4-story, $8.5
91-unit luxury condo.
Fountainhead, Phase I Kissimmee, FL 3-story, I 84-unit apts. $5.9
Boca Club Apartments Orlando, FL 2-story, 216-un it apts. $5.0
-
1988 Location Description Contract ..
(millions)
Radisson Inn. Port St. Lucie, FL 5-story, 145-unit hotel $4.2
Howard Johnson's Ocala, FL 3-story, 284-unit hotel with $3.9
Park Square Inn gourmet restaurant
Courtyard By Marriott Plantation, PL 3-story, 149-unit hotel 55.4
Comfort Suites Hotel Kissimmee, FL 3-story, 149-unit hotel $2.6
Beach Club Apartments Melbourne, FL 8-building, 160-unit apts. $4.0
Holiday Inn-Beltway College Park, MD 1 DO-unit addition $5.0
Bally Fitness Center Orlando, FL 28,000 sf fitness center $2.0
.
1987 Location Description Contract
(miions)
The Park Apartments Orlando, FL 18-building, 420-unit apts. $9.2
Holiday Inn Orlando, FL 6-story, 251-unit hotel located $6.2
University Of Central Florida in an office park
· under construction
D/B: design/build
eM: construction management
PAGE 5 OF 7
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CONSTltUCTORS
.
PROJECT EXPERI ENCE 1985- PRESENT
Days Inn, Philadelphia Philadelphia, PA 3-story, l46-unit hotel $6.7
A,
i Quality Inn, Atlanta Airport Atlanta, GA 4-story, 200-unit hotel $3.6
Moon River Vero Beach, FL 19-building, 90-unit condo $6.7
Plantation Club Apartments Melbourne, FL 7-building, 64-unit apts. $2.1
C & 5 Bank Building Orlando, FL 2-story bank office $1.4
Cathedral Church of 51. Luke Orlando, FL addition and renovation $2.1
The Vinyard Apartments Kissimmee, FL 3-story, 200-unit apts. $S.O
Comfort Inn, Airport Hollywood,FL 4-story, l86-unit hotel $2.5
1986 Location Description Contract
(miUions)
Hilton Hotel & DeLand, FL 6-story, ISO-unit luxury hotel $4.2
Conference Center and conference fac.
Phillip's Place Office Village Orlando, FL 3-story, 50,300 sf office $3.8
Heathrow Tennis & Orlando, FL tennis and aquatic center $1.0
Aquatic Center
.'
Merritt Towers, Phase II Merritt Island, FL 8-story, 80-unit condo $4.3
Shoney's Motel Williamsburg, V A 2-story, l32-unit motel $2.8
The Marketplace Palm Bay, FL 3-story, 40.000 sf office $1.6
Arden Hill Medical Center Orlando, FL 2-story, 26.000 sf medical $1.4
530 East Central Orlando, FL 20-story, 92-unit renov, $0.9
Days Inn Ft. Pierce, FL 2-story, 128-unit motel $2.6
Anc10te Financial Center Tarpon Springs, FL 6-story, 86,700 sf office $4.3
Guest Quarters Vero Beach, FL 5-story, 55-suite resort $2.8
Wynfield Inn Orlando, FL 3-story, l56-unit motel $2.2
Sheraton St. Petersburg 51. Petersburg, FL 1 DB-unit renovation $0.9
Marina & Tennis Resort
· under construction
O/B: design/build
eM: construction management
PAGE 6 OF 7
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CONSTR.UCTORS
I
PROJECT EXPERIENCE 1985- PRESENT
1985 Location Description COM,ract
(mi IOns)
A.
First Union Tower Orlando. FL 16-story. 300.000 sf office $20.0 CM
Radisson Plaza Hotel Orlando Orlando. FL IS-story. 344-uni t hotel $15.2
w/ 4-level. SOD-car garage
Sheraton Orlando North Orlando. FL 6-story, 400-unit hotel $11.0
Maitland Forum Orlando, FL 4-story. 280,000 sf office $9.0 CM
Century Plaza (SouthTrust) Orlando, FL 12-story, 170.000 sf office $8.0
Woodside at Lakepointe Orlando, FL 3-story, SOO-unit apts. $10.5
Sonesta Village Hotel Orlando. FL 2-story villa hotel and $8.5
Phases III & IV clubhouse
530 East Central Orlando. FL 20-story, 92-unit condo $8.4
Sundestin International Destin. FL 17-story. 2BO-unit luxury $11.8
Resort condo/hotel
Perdido Sun Condominiums Perdido Key. FL II-story, 93-unit condo $5.3
Heathrow Country Club Orlando. FL clubhouse & restaurant $2.0
o.
Chambrel at Island Lake Orlando. FL 250.000 sf. 216-unit life care $12.0
Life Care Facility and nursing care
Crown Oak Centre. Phase II Orlando, FL 2-story, 5-bldg. complex $1.8
Merritt Towers, Phase I Merritt Island. FL 8-story, BO-unit condos $4.4
Sheraton Hotel. Airport Orlando. FL SO-unit addition/renov. $2.3
,Embassy Suites Hotel Orlando. FL 8-story. 246-suite hotel $10.4
· under construction
D/B: design/build
eM: construction management
PAGE70F7
Dee
CONSTRUCTORS
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Profile
John A. Jones, P.E., has more than 20 years of
professional engineering, construction and
development experience, with the majority of it
in Florida. He has had assignments as
Superintendent, Proj ect ivlanagcr, Chie f
Engineer, Chief Estimator and Executive Vice
President.
As President, Mr. Jones concentrates his
energies on satisfying the clients' needs by
dedicating the appropriate corporate resources
on a project-by-project basis. This is done by
taking an active, hands-on approach to every
phase of every project.
y
Capabilities
With a strong background in both engineering
and construction, Mr. Jones has the unique
ability to develop solid approaches to the
construction of complex, multi-million dollar
building projects. Using the latest, state-of-the-
art computerized scheduling and cost control
software at each jobsite, he is able to monitor
and control each project on a daily basis. Mr.
Jones has extensive experience in commercial,
hospitality, condominium, industrial and retail
projects, and he is also considered an expert in the
designlbuild delivery approach. The American
Association of Cost Engineers recognized his
expertise in cost estimating by appointing
Mr. Jones as an instructor in their Cost
Engineering Certification Program.
Degrees & Licenses
Mr. Jones earned a Bachelor's Degree in
Mechanical Engineering from the University of
Akron in 1972. He is a Florida registered
Professional Engineer, a Certified General
Contractor and a Certi fied Mechanical
Contractor. Mr. Jones also serves as a
Commercial Arbitrator with the American
Arbitration Association.
Representative Projects
Administration Center Parking Garage
Orlando, FL - Designlbuild, 6-level, 85G-space
garage with 10,000 sf office, $9.9 million.
Sunset Harbour, North Tower
Miami Beach, FL - 26-story, 228-unit luxury
condominium, parking levels 1-6, $22 million.
Point Pleasant Resort
St. Thomas, V.S.V.I. - Hurricane renovation of
34-building, 134-unit condolhotel, $2.5 million.
Sapphire Bay Condominium West, Bldg. A
St. Thomas, V.S.V.I. - Hurricane renovation of
2-story, 19-unit condominium, $1.5 million.
La Gorce Palace
Miami Beach, FL - 33-story, 208-unit luxury
condominium, parking levels 1-6, $23 million.
Freedom Plaza Life Care Condominiums
Sun City Center, FL - 586,000 sf, $23 million.
Buena Vista Palace Suites Hotel
WaIt Disney World, FL - 6-story, 20D-suites,
$11.6 million.
Dee
RE,SlIMES
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Representative Projects, Continued
Tampa Bay Performing Arts Center
Tampa, FL - r..,1ulti-Ievel, 275,000 sf,
$43 million.
Miami-Dade Community College
ParJdng Garage & Central Utilities Plant
South Campus, Kendall, FL - 5-story, 58D-car
garage and utilities plant, $9.2 million.
Radisson Suites Resort at Sand Key
Clearwater Beach, FL - 10-story, 220-suites,
$10 million.
Ocean Club Condominiums
Jupiter, FL - 8-story, 48-units, $7 million.
The Glenview at Pelican Bay
Naples, FL - 12-story, 375,000 sf, $21 million.
Renaissance Shopping Centre
Orlando, FL - Mixed-use, tilt-up, 70,000 sf,
$15 million.
M.C.I. Headquarters
Gateway Industrial Park
St. Petersburg, FL - 130,000 sf, $8 million.
First Union Tower
Orlandot FL - 16-story, $20 million. (CM)
Paragon Center Building
Ft. Lauderdale, FL - 270,000 sf, $15 million.
Galaxy Cheese
Food Processing & Distribution Facility
Orlando, FL - 55,000 sf, $2 million.
Stanton Energy Center Equipment Storage
Orlando, FL - 25,000 sf
Clark Food Service Distribution Center
Orlando, FL - 54,000 sf, $2 million.
Florida Power Regional Service Center
Lake Buena Vista, FL - $3 million.
GTE Mobilnet Office/Research Facility
Tampa, FL - $6 million.
Solitron Devices Manufacturing Plant
Riviera Beach, FL - 150,000 sf, $6 million.
General Tire Manufacturing Plant Addition
Mt. Vernon, IL - 70,000 sf, $13 million.
Steere Enterprises Manufacturing Plant
Akron, OH - 50,000 sf.
Leesburg Regional Medical Center Addition
Leesburg, FL
Medical Office Building
Coshocton, 0 H
Coshocton Hospital Renovations
Coshocton, OH
Dee
RESUMES
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I
Profile
David W. Scott has more than 20 years
experience in large-scale multifamily
construction projects in Florida and Texas. As
Senior Vice President of DCC~s Multifamily
Division, he has been responsible for the
construction of more than 10,000 apartment
units.
Capabilities
As Senior Vice President and Multifamily
Division Manager, Mr. Scott prepares alternate
budgets to satisfy the owners' economic
and practical needs. His project evaluations
include studies of design, scheduling, materials
and suppliers. When the studies are complete
and the owners' needs arc met, he then
prepares final budgets and schedules for each
project. Once the work is undenvay, Mr. Scott
oversees each of the projects - guaranteeing
tbe overall success of every multifamily
community. The effectiveness of this method
was recognized when the Arbors at Maitland
Summit (363 units with a 14,000 sf clubhouse)
won Pillars of the Industry Awards for Best
Garden Apartments and Best Site Plan from
the National Association of Home Builders in
1996.
Degrees & Licenses
Mr. Scott earned a Bachelor's Degree in
Building Construction from the University of
Florida in 1977 and an Associate's Degree from
Edison Junior College in 1971. He is a
Certified General Contractor and a Certified
Residential Contractor in Florida.
Representative Projects
Edisto Lake Apartments
Fort Myers, FL - 376-units, $16.3 million.
Mira Flores at MacArthur Center
Palm Beach Gardens, FL - 352-units,
$15.7 million.
The Arbors at Fletcher Island
Temple Terrace, FL - 352-units, $15.5 million.
The Arbors at Maitland Summit
Orlando, FL - 363-units, $15.7 million.
Regal Trace Apartments
Fort Lauderdale, FL - 408-units, $19 million.
81. Andrews at Winston Park
Coconut Creek, FL - 284-units, $] 0 million.
Bayside Arbors
Clearwater, FL - 360-units, $14.2 million.
Walden Pond Apartments
Miami, FL - 290-units, $7.5 million.
The Lakes at Deerfield
Deerfield Beach, FL - 212-units, $7.6 million.
The Landings at Timberleaf
Orlando, FL - 240-units, $7 million.
Dee
RESUMES
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Representative Projects, Continued
St. Andrews at Palm Beach Lakes
Palm Beach, FL - 200-units, $7.8 million.
Seagrape Village
Homestead, FL - 1 12-unit apartment complex,
hurricane renovation, $2.8 million.
Casa Marina
North Bay Village, FL - 162-unit apartment
complex, hurricane renovation, $1 million.
The Arbors at Lee Vista
Orlando, FL - 338-units, $1} million.
The Arbors at Kirkman Park
Orlando, FL - Grand Aurora Award winning,
370-units, $12 million.
Stonebrook Apartments
Sanford, FL - 244-units, $7 million.
Lake Tivoli (Fountainhead II)
Kissimmee, FL - 312-units, $9 million.
Pine, Club Apartments, Phase II
Orlando, FL - l60-units, $5 million.
Los Altos Apartments
Orlando, FL - 328-units, $9 million.
Crane's Landing Apartments
Orlando, FL - 252-units, $7 million.
Fountainhead Apartments, Phase I
Kissimmee, FL - 184-units, $6 million.
Park South Apartments
Orlando, FL - 400-units, $9 million.
Pine Club Apartments, Phase I
Orlando, FL - 312-units, $9 million.
Beach Club Apartments
Melbourne, FL - ] 60-units, $4 million.
The Park Apartments
Orlando, FL - 420-units, $9 million.
Vinyard Apartments
Kissimmee, FL - 200-units, $5 million.
Plantation Club Apartments
Melbourne, FL - 64-units, $2 million.
Dee
RESUMES
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Profile
Richard H. "Dick" Frantz has more than four
decades of experience in the construction
industry, including employment with Centex
Rooney, I.A. Jones and Dugan & Meyers. In
this time, he moved through the field ranks
from project engineer to superintendent to
project manager, and then joined the corporate
management team serving at different times as
Operations Manager, General Manager and
Vice President. His experience also includes
five years as president of Monitor Construction
Company, a wholly-owned subsidiary of Dugan
& Meyers. His most recent accomplishments
involve the completion of Fort Wilderness
Resort and Dixie Landings hotel, both at Walt
Disney W orId. These projects, wi th a
combined construction value of $170 million,
contain a total of 3,700 rooms. Mr, Frantz
was also instrumental in the pre-construction
planning of the $50 million Disney Newport
Beach Resort in California for Centex Rooney's
sister company, Centcx Golden.
Capa~i1ities
As Senior Vice President and Commercial
Division Manager, Mr. Frantz is responsible for
overseeing all commerci al proj ects from
conception through completion. He works
closely with estimating and scheduling to prepare
the project for construction and then monitors
progress throughout. He is also involved in the
warranty phase as the completed facility
becomes fully operational.
Degrees & Licenses
Educated at Virginia Polytechnic Institute,
Mr. Frantz earned a Bachelor's Degree in
Construction Management. Frantz has also been
actively involved in the American
Institute of Constructors (AIC) for more than
20 years, where his accomplishments in the field
have been recognized through his status as an
Ale Fellow.
Representative Projects
Administration Center Parking Garage
Orlando~ FL - Designfbuild, 6-level, 850-space
garage with 10,000 sf office, $9.9 million.
Point Pleasant Resort
St. Thomas, V.S.V.I. - Hurricane renovation of
34-building, 134-unit condolhotel, $2.5 million.
Sunset Harbour, North Tower
Miami Beach, FL - 26-story, 228-unit luxury
condominium. parking levels 1-6, $22 million.
Sapphire Bay Condominium West, Bldg. A
St. Thomas, U.S.V.I. - Hurricane renovation of
2-story, 19-unit condominium, $1.5 million.
Dixie Landings
Orlando, FL - 3,000-room Walt Disney \Vorld
(WDW) resort hotel, $110 million.
La Gorce Palace
Miami Beach, FL - 33-story, 208-unit luxury
condominium, parking levels 1-6, $23 million.
Dee
RESUMES
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Representative Projects~ Continued
Fort Wilderness Resort
Orlando, FL - 730-room wnw resort hotel,
$60 million.
Contemporary Conference Center
Orlando, FL - WDW, $16.7 million.
"Great Moments in the Movies"
Orlando, FL - MGM Studios, $6.4 million.
Waft Disney World Typhoon Lagoon
Orlando, FL - 52-acre, WOW water theme
park, $18 million.
Disney Newport Beach Resort
California - Pre-constr. services, $50 million.
The French Connection - Epcot Center
Orlando, FL - WDW, $6 million.
Georgia World Congress Center Expansion
Atlanta, GA - 1.2 million sf, $75 million.
Forest Fair Mall
Cincinnati, OH - Biggs Dept. Store, $7.9
million; Elder Beerman Dept. Store, $7.2
million; B. Altman Dept. Store, $7.8 million;
3-story parking garage, $9.1 million; and 130
acres of site work, $8 million.
University of Cincinnati
Medical Science Complex
Cincinnati, OR - 750,000 sf medical sciences
complex, $70 million.
One City Center
Portland, ME - 17-story, 260,000 sf office
building with 300-car garage, $16.7 million.
First National Bank Building
Memphis, TN - 25-story, 500,000 sf office
with 4-level underground parking, $33
million.
Fisher Body - Norwood Assembly Plant
Norwood, OH - 250,000 sf, 3-story
manufacturing facility plus 1,800 car garage,
$20 million.
Central Trust Tower
Cincinnati, OH - 26-story, 500,000 sf office
building with parking garage, $32.5 million.
Providence Hospital
Cincinnati, OH - 365,000 sf, 400-bcd hospital,
$20 million.
Provident Tower
Cincinnati, OH - 20-story, 350,000 sf office
building, $24.6 million.
Married Students Apartment Complex
Bloomington, IN - II-story, 250,000 sf apt.
building for Univ. of Indiana, $10 million.
Tri-County Mall
Cincinnati, OH - 2,700-car parking garage and
three bridges, $8.1 million.
Dee
RESUMES
I
Profile
For the past twelve years, Douglas R. Storer has
been schooled in the development and
construction industries literally "from the
ground up." Formerly Corporate Director of
Pre-Development Services for a land
development consultant, Me. Storer helped
guide clients through state and local regulatol)'
permitting processes. He then coordinated the
horizontal construction of multifamily housing
complexes, condominiums, courthouses,
correctional facilities and numerous other types
of public and private projects.
Capabilities
As Vice President, Mr. Storer's responsibilities
include identifying and directing the necessal)'
resources to guide our clients' projects from
"plans to progress." Becoming involved in the
early planning stages, Mr. Storer works with the
clients to bring their financial pro-formas and
project designs in line with real cost information
from our current in-house data resources, He
";;.
then works in tandem with the clients' architects
and engineers to uvalue engineer" the plans and
prepare the projects for construction.
Education
Mr. Storer earned a Bachelor's degree from Rollins
College in Winter Park (Orlando). His major areas
of study were business and marketing.
Memberships & Affiliations
d Winter Park City Commissioner
d Economic Development Commission of
Mid-Florida (Corporate)
d RotaI)' International - Winter Park
d Rollins College Alumni Club
II Phi Delta Theta Fraternity Alumnus
Representative Projects
Rappahanak Regional Security Center
Fredricksburg, VA - Master plan & expansion
of regional correctional facility, $65 million.
Lake Port Square, Phase II
Leesburg, FL - 5-stol)', 207-unit ACLF,
350,000 sf, $14.5 million.
Orange County Correctional Facility
Orlando, FL - Renovation, $7.5 million.
University of Florida Aquatic Laboratory
Gainesville, FL - $2.7 million.
Regency Oaks, Phase II
Clearwater, FL - 5-story, 203-unit ACLF,
340,000 sf, $14.5 million.
Daytona Beach Community College
Deland, FL - Classroom/laboratory, $3 million.
St. Petersburg Beach Municipal Complex
City Hall and Police Station
51. Petersburg Beach, FL - $5 million.
Twin Rivers D.R.I.
Oviedo, FL - Lead consultant for D.R.I.
application.
Dee
RESUMES
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Profile
Jeffery L. Felix has more than 16 years
experience in large-scale, rnultifarni ly
construction projects in Florida and Texas. In
this time, he has been responsible for the
construction of approximately 12,000 units.
Capabilities
As Vice President and Multifamily Operations
Manager, Mr. Felix reviews the development
of multifamily projects and monitors the
project managers and superintendents to ensure
quality and to guarantee sound construction
practices. In addition, he is also heavily
involved in site safety and in making sure that
OSHA regulations are met or exceeded.
Degrees & Licenses
Mr. Felix earned a Bachelor's Degree in
Conservation (Land Management) at Purdue
University in 1977. He holds a Certified Building
Contractor license in Florida.
Representative Projects
The Arbors at Fletcher Island
Temple Terrace, FL - 352-units, $15.5 million.
Edisto Lake Apartments
Fort Myers, FL - 376-units, $16.3 million.
Mira Flores at MacArthur Center
Palm Beach Gardens, FL - 352-units,
$15.7 million.
St. Andrews at Palm Beach Lakes
Palm Beach, FL - 200-units, $7.8 million.
Seagrape Village
Homestead, FL - 1I2-unit apartment complex,
hurricane renovation, $2.8 million.
Casa Marina
North Bay Village, FL - I 62-unit apartment
complex, hurricane renovation, $1 million.
The Arbors at Lee Vista
Orlando, FL - 338-units, $11 million.
The Arbors at Kirkman Park
Orlando, FL - Grand Aurora Award winning,
370-units, $12 million.
Stonebrook Apartments
Sanford, FL - 244-units, $7 million.
Lake Tivoli (Fountainhead II)
Kissimmee, FL - 312-units, $9 million.
Pine Club Apartments, Phase II
Orlando, FL - 160-units, $5 million.
Los Altos Apartnlents
Orlando, FL - 328-units, $9 million.
Crane's Landing Apartments
Orlando, FL - 252-units, $7 million.
Fountainhead Apartments, Phase I
Kissimmee, FL - I 84-units, $6 million.
Park South Apartments
Orlando, FL - 400-units, $9 million.
Pine Club Apartments, Phase I
Orlando, FL - 312-units, $9 million.
Dee
RESUMES
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Profile
Robert L. Varnon, Jr. has more than 20 years
experience in major general contracting and
construction management projects, including eight
years as Chief Financial Officer. His wide-ranging
abilities include project management and construction
management, company-wide financial management,
as well as project accounting and estimating.
Capabilities
As Vice President and Treasurer, Mr. Varnon has
responsibilities in the following areas:
Internal Project Auditor
Mr. Varnon monitors all job cost status reports and
carefully reviews variances which arise on a weekly
basis. Particular emphasis is placed on monitoring
the progress and amount of pending change orders
for each project. In addition, Mr. Varnon plays an
active role in the areas of project safety and accident
prevention.
Corporate Officer
Mr. Vamon signs all original subcontract agreements
and contract purchase orders for the company. This
puts one person in the position of monitoring the
standardization of DCC's contract preparation.
Accounting Department Supervisor
Each year the accounting department routinely handles
numerous audits from outside agencies including
owners, insurance auditors, tax auditors and DCC's
own CPA firm.
Corporate Insurance Program Administrator
Mr. Varnon has worked diligently to maintain and
administer the company insurance program. DCC has
benefi ted from a very fa vorab lei ns urance market and,
accordingly, has been able to expand its coverages
while reducing overall premiums.
Computer Resource Planner
Mr. Varnon planned and implemented the installation
of the local area network (LAN) at both of DCC's
corporate offices and on most jobsites.
Degrees
Mr. Varnon earned a Master's Degree in Industrial
Administration at Purdue University in 1971 and a
Bachelor's Degree in Electrical Engineering at the
University of Missouri in 1970.
Representative Projects
Administration Center Parlting Garage
Orlando, FL - Design/build, 6-level, 850-space
garage with 10,000 sf office, $9.9 million.
La Gorce Palace
Miami Beach, FL - 33-story, 208-unit luxury
condominium, parking levels 1-6, $23 million.
Sunset Harbour, North Tower
Miami Beach, FL - 26-story, 228-unit luxury
condominium, parking levels 1-6, $22 million.
The Arbors at l\'laitland Summit
Orlando, FL - 363-units, $15.7 million.
Bayside Arbors
Clearwater, FL - 360-units, $14.2 million.
Freedom Plaza Life Care Condominiums
Sun City Center, FL - 586,000 sf, $23 million.
The Don CeSar Beach Resort
St. Petersburg Beach, FL - Phase I & II
renovations, refurbishment and remodeling of
historic resort on the Gulf of Mexico, $6 million.
St. Andrews at Palm Beach Lakes
Palm Beach, FL - 200-units, $7.8 million.
Dee
RESUMES
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Profile
Will Emmert has more than 30 years of
experience in construction, design and estimating.
He studied Architecture and Design at Santa
Ana College in California and then attended the
Morrison Institute of Design and Technology in
Illinois. Prior to becoming an estimator for the
past ten years, he worked in the field as a skilled
craftsman, foreman, proj ect manager and
contractor. He has acquired considerable
training and experience in computers, CPM
Scheduling and Primavera System applications
to compliment his field experience.
Capabilities
As a Vice President and Chief Estimator with
DCC Constructors, Mr. Emmert is responsible
for all estimating and pre-construction services,
project management and value analysis to
achieve quality and economy within time and
budget parameters. Mr. Emmert also provides
preliminary sketches to illustrate the changes
proposed to achieve these parameters.
Licenses
Mr. Emmert is a Licensed Construction Contractor
and Licensed Draftsman in the United States
Virgin Islands.
Representative Projects
Administration Center Parking Garage
Orlando, FL - Designlbuild, 6-level, 850-space
garage with 10,000 sf office, $9.9 million.
Sunset Harbour, North Tower
Miami Beach, FL - 26-story, 228-unit luxury
condominium, parking levels 1-6, $22 million.
Point Pleasant Resort
St. Thomas, U.S.V.I. - Hurricane renovation of
34-building, 134-unit condo/hotel, $2.5 million.
Sapphire Bay Condominium West, Bldg. A
S1. Thomas, U.S.V.I. - Hurricane renovation of
2-story, 19-unit condominium, $1.5 million.
The Don CeSar Beach Resort
S1. Petersburg Beach, FL - Phase I & II
renovations, refurbishment and remodeling of
historic resort on Gulf of Mexico, $6 million.
La Gorce Palace
Miami Beach, FL - 33-story, 208-unit luxury
condo tower, parking levels 1-6, $23 million.
Meter Eater Park 'N' Pla)' Garage
Orlando, FL - Award-winning 530-car parking
garage, restaurant and daycare, $4.5 million.
Ocean Club Condominiums
Jupiter, FL - 8-story, 48-units, $7 million.
The Glenview at Pelican Bay Life Care
Naples, FL - 12-story, 375,000 sf, $21 million.
Buena Vista Palace Suites Hotel
Walt Disney World, FL - 6-story, 200-suites,
$11.6 million.
Collegiate Village Inn
Orlando, FL - 520-bed residence hall, $6 million
Dee
RESUMES
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Profile
Mort W. Luebbert has extensive experience in the
scheduling, cost controlling and managing of a wide
variety of construction project types. In his 24
years in the work force, Mr. Luebbert has held
positions including: Project Control Manager for a
transit systems supplier (with responsibilities
including cost control programming, scheduling and
assessing performance for design/build transit
projects); Business Manager for a commercial
builder (with responsibilities induding construction
estimating and budgeting); Owner's Representative/
Contract Administrator for Walt Disney World;
Financial Analyst for Martin Marietta Corporation;
and Cost Control and Budgets Supervisor for
McDonnell Douglas Corporation's R&D
Department. His recent accomplishments include
the development of a computer model capable of
calculating bid prices for multi-year transit projects
in dense urban settings. The model was used
successfully to win fixed-price competitions for
transit projects totaling $61 million.
Capabilities
As Manager of Project Control for DCe
Constructors, Mr. Luebbert is responsible for
insuring that each project under construction has a
working, detailed Critical Path Schedule which is
consistently maintained as a means of monitoring
daily priorities, steering progress and controlling costs.
Degrees & Training
Mr. Luebbert earned his MBA from the Florida
Institute of Technology in 1979 and his Bachelor's
Degree in Accounting from the University of Missouri
in 1969. He is skilled in the use of the latest computer
scheduling software and hardware.
Representative Projects
Administration Center Parking Garage
Orlando, FL - Designlbuild, 6-level, 8S0-space
garage with 10,000 sf office, $9.9 million.
La Gorce Palace
Miami Beach, FL ~ 33~story, 208-unit luxury
condominium, parking levels 1-6, $23 million.
Sunset Harbour, North Tower
Miami Beach, FL - 26-story, 228-unit luxury
condominium, parking levels 1-6, $22 million.
Miami-Dade Community College
Parking Garage & Central Utilities Plant
South Campus, Kendall, FL - 5-slory, 580-car
garage and utilities plant, $9.2 million.
Lake Port Square, Phase II
Leesburg, FL - 5-story, 207-unit, 350,000 sf adult
congregate living facility, $14.5 million.
Atlantic Vie,,' Beach Club, Phase II
North Hutchinson Island, FL - 20-story, 106-unit
luxury condomini urn tower, $12 million.
Senate Subway People Mover System
Washington, D.C. - 3-year designlbuild
underground transit system (U.S. Capitol
Building), $16 million.
Tampa Airport AGT System
Tampa, FL - 3-year designlbuild elevated transit
system, 6 trains and 6 stations, $11 million.
Walt Disney World Monorail Fleet
Kissimmee, FL - 2-year vehicle production
project, 12 trains (6 cars each), $45 million.
Kuala Lumpur AGT System
Kuala Lumpur, Malaysia - 3-year designlbuild
downtown circulator transit system, $34 million.
Dee
RESUMES
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RECOMMENDATIONS
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Dee
Dce Constructors, Inc.
The Master Blli/der
Cun~trU'111l1l ~ 1.H1J~l'm.:nl
C':IIt:ral C(mlra.:till~
I>e~ign/lluild Sl'r\ j,C\
Profc\\jon.t1 Comull illg
Corporate Headquarters
355 S. County Hoad 427
Longwood, FL 32750
P.O. Box 52110H
Longwood.FL 32752
'-
407/834-3300
407/332-9305 (fax)
CLIENT R.EFERENCES
South Florida
1835 Purdv Avenue
Miami Be~ch. FL 33139
305/531-7010
305/531-5740 (fax)
Mr. David Metzker
Director of Public Works
City of Orlando
400 S. Orange Avenue
Orlando, FL 32801
407/246-2511
Mr. Charles Bedzow
President
Pacific International Equities, Inc.
11098 Biscayne Blvd., Suite 402
Miami, FL 33161
305/891-7987
Mr. David A. Smith
Owner's Representative
Interstate Hotels Corporation
Foster Plaza, Building X
680 Anderson Drive
Pittsburgh, PA 15220
412/937-0600
Mr. Rick Miller
Owner's Representative
Edisto Group) Ltd.
clo National Development of America, Inc.
1520 Royal Palm Square Blvd., Suite 360
Fort Myers, FL 33919
941/275-8029
.
Mr. Steve Patterson
President
20M Communities, Inc.
2269 Lee Road
Winter Park, FL 32789
407/644-6300
Mr. Alan H. Baerenk.lau
President I COO
Motels of America
701 Lee Street, Suite 1000
Des Plaines, IL 60016
847/803-0606 x2102
Mr. William Miller, C.E.O.E.
Chief Engineer
Buena Vista Palace Suites Hotel
1900 Buena Vista Drive
Lake Buena Vista, FL 32830
407/827 -3260
Mr. Angelo Morini
Chairman, President & CEO
Galaxy Foods
2441 Viscount Row
Orlando, FL 32809
407/855-5500
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ARCHITECTUREI PLANNING
March 27, 1990
Mr. Joseph Alvarez
Demetree Central Construction Company
895 South East Lake Street
Longwood, FL 32750
Re: School Book Fair
Dear Mr. Alvarez,
As the referenced project nears completion, we would like to
take this opportunity to state that Demetree has been working
diligently under often difficult conditions including an
extremely tight schedule.
t'
We are all aware of the difficulties of making such a project
a success. Your personnel have performed well in responding
to these needs without compromising quality or impacting the
completion date.
Barring unforeseen delays, the project will be ready for
initial occupancy in late May, 1990, only 10 months since the
start of construction. Much of the credit goes to your
organization for "making things happen" on time and budget so
that this ambitious schedule could be met.
We look forward to the final completion of the project in the
near future. Your commitment of completing the project in a
successful fashion is commendable.
~:! truly, ,', .'"lr
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~-Edward M. R~et , ~.I.A.
President v
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RECEIVED
MAR 2 B 1990
DEMETREE CENTRAL
CONSTRUCTORS CORPORATION
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(On~ULi:lnc: enGlniEi5=1)
March 26, 1990
Demetree Central Constructors Corp.
895 S. East Lake st.
Longwood, FL 32750
Attn: Mr. Joe A. Alvarez, Jr.
President
Re: School Book Fairs
International Headquarters Office Project
Pinellas Park, Florida
Dear Joe:
This letter is written in recognition of the quality of work
performed, and cooperative team effort provided, by Demetree
.. Central Constructors Corp. during the construction of the School
Book Fairs Headquarters Office Project. The construction is
nearing completion, andwe fully anticipate to cornpletethe project
within budget and allow the owner to begin moving into their new
facility one month prior to the contracted completion date.
The contractor has coordinated the installation of mechanical and
electrical systems well, which has resulted in a high quality
facility consistent with our design.
Bob Burton and I would recommend Demetree Central for future work
and would enjoy working with their organization again.
Robert A. Rolle 'I'
Vice president/ ,
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RECEIVED
,
MAR 2 8 1990
DEMETREE CENTKAL
CONSTRUCTORS CORPORATION
535 Memorial Highway, Tampa, Florida 33634
813-889-0835
FAX #813-884-8051
.'....
.
.
CeClarwood
COMPANIES
Cedarwood Construction Co., Inc.
1201 Gul! Boulevard
Clc:1rwattr. FL 34630
8'13/595-5204
FAX 81;\/596-2703
Anthony A. Petrarca
Prc::ddcnl
Andrew M. JIowe
l)irccwr ur l'1)c:d:III'rllj""lli
November 7, 1989
t-
I am writing as a confirmation of my xecommendation of Demetree Central
Constructors Corp.
Demetree Central was selected by the Cedarwood Companies to construct the
Radisson Suite Resort on Sand Key after reviewing over one hundred local,
regional and national general contractors. The selection was based on a
combination or their hotel experience, and aggressive pursuit of value
engineering during the bidding phase.
With the project nearing completion, I am extremely pleased with Demetre~
Central's ability to maintain the original schedule and quality of work.
Feel free to contact me at any time regarding this matter.
Sincerely,
Cedarwoo Construction Company, Inc.
&.,
Andrew M. Howe
Director of Special Projects
,
AMH:mw
co: Joseph A. Alvarez, Jr.
87027/a-l
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FLORIDA HOSPITALITY GROUP · 1408 NORTH WESTSHORE BLVD.. SUITE 1002. TAMPA. FL 33607
(813) 289-0330 · FAX (813) 287-5619
PREFERRED FAX: (813) 288-9176
December 16, 1996
Mr. John Jones, P.E.
President
Dee Constructors, Inc.
P. O. Box 521108
Longwood, FL 32752-1108
Dear John:
I want to let you know what a pleasure it is to once again be working with DCC on a hotel
.' construction project.
The first three projects were, as you know, all on time, under budget and highly professionally
managed but under your leadership, the latest job has moved to yet a higher level.
Dec's services, professionalism and attention to detail on this job is just superb and your
suggestions for value engineering were instrumental in getting the project cost where it needed to
be.
Thanks for all your help and good luck as you grow and prosper at DeC.
Sincerely,
/
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~
AN AUSTIN COMPANY
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OFFICE OF THE DIRECTOR
PUBLIC WORKS DEPARTMENT
(!1 ii~ af @xla:nhll
CITY HALL
ONE CITY COMMONS
400 SOUTH ORANGE AVENUE, alh FLOOR
ORLANDO, FLORIDA 32801.3302
TELEPHONE (407) 246-2266
FAX (40T) 246-2892
December 17, 1996
.- '
I am writing this letter to recommend the work provided by DCC Constructors of Longwood,
Florida. I understand they are submitting a proposal for the above referenced project.
DCC Constructors is currently under a designlbuild contract with the City of Orlando for the
construction of the Administration Parking Garage located at the corner of Rosalind and South
in downtown Orlando. They have been excellent in their work projection and management of
the development of this project. Their team members have been very professional in our working
relationships and have been assertive in providing us good solid infarction. I, in particular, value
the Executive Level Progress Meetings which are held'about every six weeks which has provided
me with a good insight to the construction sequence.
Dee Constructors has provided the City of Orlando with thorough and accurate construction
services on this complex project, and I am pleased to recommend them to you.
Sincerely)
,
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David L Metzke, .E.
Public Works Director
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14 March 1995
Joe Alvaez
President
Demetree Central Constructors Corp
355 South CR 427
Longvvood/FL 32750
Dear Joe,
.'
We have concluded the Don - Phase One and Phase Two
projects, and I want to let you know that your Superintendent on that
job, B.J. is the best that I've ever worked with. This guy is wonderful
and deserves anything that you can put his way to reward and
recognize his wonderful attitude and abilities in a complicated, difficult
project. He's made us all look good.
,
cc: Dave Smith
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NEWMARK DIERCKS DESIGN INCORPORATED
December IS. 1994
Mr. Joe Alvarez. Ir.
President
DEMETREE CENTRAL CONTRUCTORS CORPORATION
355 South CR 427
Longwood, Florida 32750
Re: THE DON CeSAR BEACH RESORT
St. Petersburg Beach. Florida
Phase 2 Scope of Work
Dear Mr. Alvarez:
.'
I just returned from St. Petersburg Beach yesterday after having spent two days at The Don CeSar Beach
Resort, After walking the Phase 2 work. to include the new Restaurant and Lounge. the new Retail
Corridor and adjacent Public Toilet Rooms and the new Outdoor Pool. I wish to commend you and your
staff for doing an extraordinary job.
As you know. the schedule for this project was extremely tight. Your team, on the site. has coordinated
and build this new Phase 2 addition with minimal problems, with the final product and execution above our
expectations. The quality and workmanship is very good throughout and the final product has followed our
. contract documents extremely well.
I congratulate you and your staff on a job well done. You have a good team. We look forward to your
continued efforts in the Lobby and Lobby Lounge.
Sincerely.
iercks Design Incorporated
,
cc:
Dave Smith - Interstate Hotels Corporation
INTERIOR DESIGN AND ARCHITECTURE
793~ EAST PRENTICE AVENUE SUITE J03. GREENWOOD VILLAGE. COLORADO 80111
(303) 740-7409 FAX:(303)740-7240
INTEI\SfATE
HOTELS
.
September 2. 1994
Mr. Joe Alvarez Jr.
Dee Con~tructor~
355 South CR 427
Longwood, Florida 32750
Re: Don CeSar Beach Reeort; Phaee Two
Dear Joe.
,;
Laet April I wrote you a letter regarding our out~tanding eucce5~ In completing
Phaee One. gre~tly due to yo~r competent etaff. I have no doubt that I will
.write you a ~imllar letter agafn next April after the completion of PhaE:?e Two.
But I do not want to wait till then to ~hare !Some of my feeling6 about your
people. DIane. the ~ecretary, Donny, the Foreman, and everyone elee; their work
ethic and cooperative attitude haB juet been the very be~t. BJ ie a .uSuper"
Superintendent. The phenomenal pace we are maintaining in the field i~ primarily
due to hie ekille; and vlelon. He I~ definitely one of the be~tl
I know you probably don't agr"ee with me, but I am 50 thankful that the 6tait of
Randy'~ new project wa@ delayed. He ha~ played a major role In bringing Thad
lIup to epeed" with your operational proceduree and the way this faet paced.
complicated project neede to be controlled, and because of that, Thad Ie going
to lire another fine aeeet to DeC. Randy hag never developed a lIehort; termer"
attitude and hae etayed right In the thick of thinge throughout. He will be
greatly mlseed when he leavee; In a couple of weeke.
.,
EXECUTIVE OFFICES: Foster Plaza X, 680 Anderson Drive, Pittsburah. Pennsylvania lS22Q.8126 · (412) 937-0600
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here 16 Will Emme~. I've been In thie; buaineee; for twenty e;ix yeara
that Will Juet m(~ht be the amartee;t, moat talented conatruc1;lotl
er had the pleaeure to work with.
,
GO: Mark Benoit - CIGNA
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FIRST PRESBYTERIAN CHURCH
OF ORLANDO
"THE HEART OF THE CITY"
December 17, 1996
. .
.
Please accept this short note as a recommendation for you to engage DeC
Constructors for your mixed-use project at Rollins College.
.,
Our experience working with DeC has been limited to the construction of
the Administration Center Parking Garage on Jackson and Rosalind in
which we are a one third partner with the City of Orlando and Orange
County. For a church to be a development partner with two governments is
a first across the country to our knowledge. W e were also able to convince
our partners to use a design-build approach which governments rarely do.
DCC is the primarily reason this approach has worked.
As we began the project nee played a critical role inputting the three of us at
ease. They worked extremely well with the architect, provided timely and
economic solutions to complicated operational questions and supplied us at
every turn with highly qualified people who were clearly focused 0 n details.
Especially helpful have been the Executive Level Progress Meetings which
provided a forum for top level decision making and gave each of the
partners the information to communicate clearly to our respective
organizations. As of today the project is on schedule and below budget.
106 East Church Street. Orlando. Florida 32801-3390 . 407423-3441
"REMEMBER THE HEART OF THE CITY FOUNDATION IN YOUR WILL."
j:N.~"~:\"';-:, '.It
.
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l)ecenlber 17, 1996
Pnge Two
Again, Ms. Gurnik, we are quite pleased with our construction experience
with OCC Constructors and highly recommend them to you. Please feel free
to contact me if you wish more information.
..
BLM/s
CC: Mr. John A. Jones
.,
.
MICHAEL. BEDZOW
. GARY A. KORN
GARY L. BROWN
RICHARD C. WOLFE
PAUL R. lJPTON
GEORGE A. MINoo
ALAN B. SCHNEIDER
DAVID C. JACOBSON
JENNIFElllJMN
NEAL t. SKLAR
MICHELE A. MARACINI
FLOIlENT1NO L. GoNZALEZ
JAM K1JNB SlNOER
SHAMIRA KLEIN
BEDZOW, KORN & KAN, P. A.
ATTORNEYS AT LAW
SUITE 200
20803 BISCA YNE BOULEVARD
AVENTURA, FLORIDA 33180
TELEPHONE (305) 935-6888
REPLY To:
P.o. Box 8020
HAUANDALE. FLORIDA 33008
(BROWARD) (954) 523-6001
TaECOPIERS:
MAIN (305) 936.950
REAL EsTATE (305) 932.604
LmOATlON (305) 936-279
ALAN J. KAN
(1947 . 1994)
December 16, 1996
.-.
I am pleased to provide to you a letter of reference concerning DCC Constructors and
specifically the writer's working experience with them. I fmd DCC Constructors to be a highly
qualified general contracting company that not only has the ability to perform in accordance with
its representations but has a high quality staff, including adept senior executives that are able to'
not only perform the work but inform their client of the status thereof. They are able, from a
preconstrUction stage, to evaluate the scope and quality of the work, grasp the complexities,
evaluate the price structure) assist not only in establishing the costs but also in evaluating the
completeness of the plans and specifications, and recommend the cost savings and alternatives
both as to construction methods and materials used. Perhaps their greatest strength is the quality
and attention to detail that allows them to excel in their field.
Dec Constructors exemplifies professionalism in the contracting and construction
business. They implement various meetings both on-site and at executive levels that is excellent
for both defIning the scope of work, fmding out information that is requested and desired, and
informing all parties of the status of the work and the issues that need to be resolved so that the
work can continue on an "on-time, on-budget" basis.
I recommend DCC Constructors highly.
,
.--....-..........--....-....... ....--
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Oran~e
County
Construction Administration
4200 South John Young Pnrkwny
Orlando. Florida 32839-9205
Telephone (407) 836-7780
FAX (407) 836-7799
December 16, 1996
I am pleased to share with you my most favorable experiences with DCC Constructors, Inc. on
." the Administration Center Parking Garage project. I am particularly impressed with the
professionalism and thoroughness of the Dce team. The garage is being built for Orange
County, the City of Orlando, the First Presbyterian Church and the Downtown Development
Board all required active participation and input into the project. Because of this, the project
had the potential of being difficult to construct and administratively challenging.
DCC's preconstruction team, under the personal leadership of John Jones, should be applauded
for bringing the project scope and design to a consensus and providing the most value for our
budget. DCC's Executive Level Progress IvIeetings have proven to be an excellent
communications forum to resolve issues at the highest level before they grow into costly
problems. And lastly, the on site staff has been extremely cooperative in addressing my
requests.
I would wholeheartedly recommend DCe Constructors for your project. I would also be happy
to answer any specific questions you may have with regards to my experience working with
DCC. You can contact me at 836-7780.
Sincerely,
~:A ?~ ?L
Antonio AguelTevere
Project Manager
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U.s. ASTRONAUT HALL OF FAME™
Home of U.S. SPACE CAMP~ Florida
~
August 25, 1997
Mr. John Jones, President
Dee Constructors, Inc.
355 South Country Road 427
Longwood, FL 32750
Dear John:
On behalf of the u.s. SPACE CAMP FOUNDATION and the ASTRONAUT
SCHOLARSHIP FOUNDATION, my thanks to DeC Constructors for the
professionalism and quality afforded to us by your finn.
Since our original construction in 1990, the ASTRONAUT HALL OF FAME and
SPACE CAMP Florida have undergone several expansions and renovations. Most
construction firms seem to be satisfied to just get by and accomplish the minimal terms of
the contract. Dee's approach has been different. Through every step of the way, your
t' team has kept the interests oithe U.S. ASTRONAUT HALL:OF FAME on top. Dee
has maintained impeccable communications, attention to detail, adherence to our tight
schedule, and sensitivity to our guests and our ongoing operations.
You have a crew of professionals who have been a pleasure to work with. I want to thank
you, Dick Franz, Randy Smith, Joe Johnson, Kate, Frank and the rest of your team who
have been associated with this project for performing in a stellar manner.
On October 4, 1997, the dream of the new U.s. ASTRONAUT HALL OF FAME will
become a reality...a new and penn anent home for America to honor its space heroes.
Thank you. to Dee for being such an integral part in making this dream a reality.
Ralph Gipson
Howard Benedict
Henri Landwrith
,
6225 Vectorspace Blvd. Titusville. Florida 32780-8040
Astronaut Hall of Fame (407) 269-6100. SPACE CAMP (407) 267-3184. Fax (407) 267-3970
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Motels of America
August 1, 1997
Mr. John Jones
President
Dee Constructors, Inc.
355 South CR 427
Longwood, FL 32750
Dear John:
I'm sorry I was unable to attend the opening of the Courtyard by Marriott, in Orlando last week.
That opening marks the completion of five major projects with Dee, and also marks the tenth
anniversary of our business relationship.
.- .
I want to take this opportunity to tell you that it has been a great pleasure to work with Dee,
and especially you and your team of professionals, over the past ten years. You have shown an
extraordinary level of personal concern and professionalism towards each of our projects,
resulting in on scbedule and within budget completion in every case. ' As a matter of fact, in one
instance, you delivered our certificate of occupancy a full month ahead of schedule and still
brought the project in at budget.
Though I am now located in Chicago, I sincerely hope we will have the cpportunity to work
together on other projects in the future.
Alan au
President/COO
AHB/jdv
,
701 lee Street - Suite 1000 - Des Ploines, IL 60016-4547 - Phone 847/803-1 ~OO - Main Fax 847/803-1264
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December 16, 1996
/.
We have had the pleasure of working with DCC Constructors in the past and are currently
workin:g with this very fine organization. They are building The Marriott Courtyard for us
near the University of Central Florida.
t'
We have been impressed with their ability to take a project from inception through
construction with ease. DCC hires project managers that are experienced in each specific
field of construction; i.e., apartments, shopping centers, office buildings, etc. The
president and/or the project manager are available for walk-throughs at any time. Monthly
owner meetings are always infomlative where all questions are answered that have not
been answered on site. We receive pictures of the project as it is being built. Change
orders requested by the owner are implemented promptly, discussed thoroughly and value .
engineered as if part of the original plan. We feel that Dee's pricing is in line with the
industry and most of the time better.
If we decide to do another project, there would be no hesitation on our part to hire DCC
Constructors.
Sincerely,
DEMETREE BUILDERS, INC.
'-ItltJAfM~
Mary L~ Demetree
President
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3348 eOGEWATER OAlve
ORLANDO. FLORIOA 32604
. (4071 422-8181
FAX (407) 843-8233
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PROFESSIONAL REFERENCES
THE
1\1 A S T E R
B U
L D E R
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P.O. Box 5211.08
Longwood,FL 32752
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Dee
Dec Constructors, Inc.
The Mastt'r Bllildcr
Construction ~lanJgcmcnt
General Contracting
Design/Build Ser\'ice~
Profc~<;i()nal Consulting
Corporate Headquarters
355 S. Count)' Road 427
Longwood, FL 32750
407/834- 3300
407/332-9305 (fax)
PROFESSIONAL REFERENCES
South Florida
1835 Purdv Avenue
Miami Beach, FL 33139
305/531-7010
305/531-5740 (fax)
BONDING COMPANY
American Home Assuran~~ Company
Member company of American International Group (AIG)
Best's Rating: A+ (Superior)
AGENT
Alexander & Alexander, Inc.
111 Market Place
Baltimore, Maryland 21202
Mr. Francis S. Carnes, Jr., Vice President
(410) 547-2915
BANK
First Union National Bank of Maryland
1 East Baltimore, 2nd Floor, MD 3607
Baltimore, Maryland 21202-1602
Mr. Robert J. Bauer, Vice President
(410) 244-3650
ACCOUNTANT
Chesser and Con1pany, P.A.
Certified Public Accountants
1030 N. Orange Avenue, Suite 102
Orlando, Florida 32801
Mr. S. Marc Chesser, President
(407) 872-3830
Dee. c~st~~<,:'(bti.5:
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&AJexander
Alexander & Alexander Inc.
111 Market Place
Baltimore, Maryland 21202
Telephone 410 547.2800
TWX 710-234-1059
FAX 410 547.2914
Re: Bonding Capacity DCC Constructors, Inc.
(Demetree Central Constructors Corporation)
TO WHOM IT MAY CONCERN:
We are pleased to recommend DCe Constructors, Inc. as a qualified General Contractor/Construction
Manager to perform professional and contracting services. DCC has demonstrated outstanding
perfonnance, is most capably staffed, well financed, and possesses outstanding management. The
prii1cipals are known to us as people of character and integrity, and in our opinion can be dealt with in full
confidence.
As illustration of this confidence, DeC Constructors' surety American Home Assumnce Company, one of
the member companies of American International Group (AlG), has agreed to provide suretyship on jobs
up to $50,000,000 on single contracts and $200,000,000 aggregate of outstanding contracts. A "T" listed
company in Florida, American Home Assurance Company offers DCC their lowest available bond
premium rate which is extended only to "preferred" clients.
Alexander & Alexander, Inc., including the former Francis S. Carnes, Inc. agency, has represented
principals of DCC Constructors for over 50 years and has never encountered any difficulty in arranging
bonding for any project they have desired to undertake. Projects have included hospitality/resort, multi-
family, life carelskilled nursing facilities, restorations and renovations, office, retail and industrial
buildings, high end condominium projects, Disney World projects, parking garages, dams, tunnels and
airports aggregating hundreds of millions of dollars. DCC is one of our outstanding and most valued
surety accounts, in whom b9th, we and their surety company have the highest confidence.
It is a pleasure to share with you our most favorable experience with DCe Constructors, Inc. and strongly
recommend you give this company every consideration.
Very truly yours,
ALEXANDER & ALEXANDpR, INC.
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Craig Banc oft 1'//;
Assistant ice President
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COMPANY,
P.A.
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To Whom It May Concern:
For the past nine years, this Firm has provided aUditing services
for DCC Constructors, Inc. and has always issued unqualified
opinions on the annual financial statements.
During this period, we dealt directly with Mr. John Jones, as
well as the accounting department. I believe Mr. Jones and Dee
Constructors, Inc. possess the highest personal and business
ethics. I do not hesitate to recommend them to you.
Please call me if you have any questions regarding this
recommendation.
sincerely,
,f
~~~
s. Marc Chesser
SMCIlv
1030 N. ORANGE AVENUE
SUITE 102
ORLANDO, FLORIDA 32801
(407) 872-3830
FAX (407) 872-3818
(1II ~forCPAFlrmsAlCPA
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Corp orate Information
OFFICERS
HEADQUARTERS
Infonnation Management Resources, Inc.
26750 U.S. Highway 19 North, Suite 500
Clearwater. Florida 34621
(813) 797-7080
REGIONAL OFFICES
Chicago, IL
Boston, MA
Rochester, NY
Dallas, TX
Salish K. Sanan
Chairman of the Board,
PresUknl and Chief Euculive OffICer
Ashutosh Gupta
PresUknl and Director, IMR-Indi4
Philip Shipperlee
Mcinaging Director, lMR-U.K.
John R. Hindman
Chief Financial Offict!T
Michael J. Dean
Vice PreswnJ - Conl1'Ol1er
SUBSIDIARIES
IMR-Canada
Toronto
IMR-India
BangaJore
Bombay
IMR-U.K.
Dilip Patel ' "-
VICe PreJiJenJ - GelU!ral Coruuel; Seaetary
Jeffery S. Slowgrove
T1M$~
SHAREHOLDER INFORMATION
Information Management Resources, Inc. provides informa-
tion to shareholders and interested investors upon request.
For additional infonnation on the Company, or to obtain a
copy of IMR's Annual Report on Form 10-K, free of charge.
contact the Investor Relations Department at the executive
offices in Clearwater, Florida.
Kasi V. Sridhnran
Euculi.ve V'K'e Presicklll -
Special Projects & StriJUgic Planni1l6
DIRECTORS
General Company infonnation also is available via IMR's
home page on the Internet at http://www.imr.com or call
1-888- 786-46 77
Satish K. Sanan
Chairman of the Board,
Pre~idenl and Chief ExtcuJive OffICer
TRANSFER AGENT
American Stock Transfer & Trust Company
Vincent Addonisio
Pruidenl
Parker CommunicalWI1J Network, Inc.
INDEPENDENT AUDITORS
Coopers & Lybrand LL.P.
Tam~ Florida
. Charle&, C. Luthin
, Vu:e:PielUkrit
ECir.erj'Family Youth AlternativeS, Inc.
, '
CORPORATE COUNSEL
Morris, Manning & Martin LL.R
Atlanta, Georgia
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Philip Shipperlee
Managing Director of IMR-U.K
COMMON STOCK
Information Management Resources, Inco's common stock
is traded on the NASDAQ National MarketS'" under the
symbol IMRS.
Jeffery S. Slowgrove
TreaJurer
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Community Redevelopment
Agency
Agenda Cover Memorandum
Item #:
3c
Meeting Date:
SUBJECT:
Notify the city of the intent to accept Justice Corporation proposal, subject to negotiations of a
development agreement.
RECOMMEN DA liON/MOTION:
Approve notification by the CRA to the City of Clearwater of the intent to accept the proposal submitted
by the Justice Corporation, subject to the negotiations of a development agreement.
lEI and that the appropriate officials be authorized to execute same.
BACKGROUND:
· F.5. 163.380(3) requires the CRA to give the governing body a notification of its intention to accept such
proposal not less than 30 days prior to the acceptance of a proposal.
· This item is contingent on the approval of the CRA to accept the Justice Corporation proposal.
· The CRA has authorized negotiations between staff with Justice Corporation.
· The eRA anticipates that it will consider approval of a development agreement on 2/17/98.
Reviewed by:
Legal
Budget
Purchasing
Risk Mgmt.
IS
ACM
Other
Originating Departm~nt:
Costs:
N/A Commission Action:
o Approved
Total 0 Approved w/Conditions
o Denied
Current Fiscal Year 0 Continued to:
N/A
N/A
N/A
N/A
N/A
User Departmc:nt:
Funding Source:
o Capital Improvement:
o Operating:
o Other:
Attachments:
Submitted by:
Advertised:
Date:
Paper:
o Not Required
Affected Parties:
o Notified
o Not Required
Appropriation Code
o None
City Manager
o Printed on recycled paper
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MEMORANDUM
TO:
Community Redevelopment Agency of the City of Clearwater
Pamela K. Akin. City Attomey ~AA
FROM:
RE:
Request for authorization for outside counsel - Annex site development
DATE:
January 7, 1998
I request authorization to retain the following outside counsel in the matter of the
development of the annex site: William Pence, Esquire, of the law firm of Akerman.
Senterfii1 & Eidson. P.A., regarding environmental matters; David Cardwel. of the law firm
of Holland & Knight.. regarding CRA devefopment agreement.
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