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HomeMy WebLinkAboutOut-of-State Travel Urban Land Institute Workshop for RDA ManagerPALM DESERT REDEVELOPMENT AGENCY STAFF REPORT REQUEST: APPROVE OUT-OF-STATE TRAVEL FOR REDEVELOPMENT MANAGER SUBMITTED BY: DAVE YRIGOYEN, DIRECTOR OF REDEVELOPMENT/HOUSING DATE: JULY 14, 2005 CONTENTS: SEMINAR DESCRIPTION Recommendation: By Minute Motion, that the Agency Board authorize out-of-state travel for the Redevelopment Manager to attend the Urban Land Institute workshop on pro forma modeling to be held on August 8-9, 2005 in Seattle, Washington. Discussion: Constructing an accurate pro forma is a critical part of any real-estate development venture. However, professionals without a strong background in finance often lack the skills needed to completely understand their construction and function, and must rely more heavily on consultants in this area. The Urban Land Institute annually offers a two-day workshop designed to train real- estate professionals how to create and manipulate pro forma using Microsoft Excel. Costs include workshop registration at $575, hotel at $390 (2 nights stay), and travel costs including meals, tips, shuttles, phone, etc., estimated to be approximately $100 per day for two and one half days. This accounts for a total of approximately $1,215. Funds are available in Account No. 850-4195-466-3120. Therefore, staff recommends that Agency Board authorize out-of-state travel for the Redevelopment Manager to attend the Urban Land Institute pro forma modeling workshop in Seattle, Washington, August 8-9, 2005. Submitted by: Dave Yri 9 Director o edevelopment/Housing DY:LA:mh Approval: Carlos L. Ortega Pecutive Director Approval: • L J McCarthy CM edevelopment !0 Paul S. Gibson Director of Finance G \RDA\Mana HunttWPDATAtYRIGOYEMSTFRPTSt071405outotstatetd Ooc L)LI - the Urban Land Institute I Pro -forma Modeling Using Excel Pagel of 3 Ulf Urban land Institute tulwg.'�lYilmNi "ti' �M'i'l�rwta`" t M'7 ',)Li 8O)C,K�T1-RF EVENT REG';TF',TIC•N MEVPSR�,Hi RESEARCH I PROGRAMS & SFRNrFS ■■ �11 A 111 ? � �• Meetings & Educationtl ~r.�s y.- T•r ^`� ,� Calendar of Events Home Meetings & Education Continuing Education Workshops Conferences .............................................................. . Meetings ...' .......... ' -.............. "' Pro -forma Modeling Using Excel - Councils ............................................................................. Study Tours o.r.u.m. ........ Forums Constructing an accurate pro -forma is a crucial step in an real 9 P p Y ••• ••. ......................estate kin Look Who's Talking development venture. But without a background in .....................................l ................ finance, many real estate professionals often do not completely Continuing Education understand their construction and function. Workshops ........................................................... Online Workshops . . Now even nonfinance professionals can develop and manipulate Real Estate School a pro -forma like a pro' In this intensive two-day workshop, you Professional will master the techniques to program and develop a real Development Certificate ........................................ estate pro -forma using Excel software. Get step-by-step Directory of Real Estate instruction in the inputs, formulas, and techniques to construct Programs ..... ..... ..... ................... ..........- ... and manipulate a pro -forma using basic real estate finance a Continuing Education principles. Gain a deeper understanding of the pro -forma as Cred is you apply new concepts in a structured, hands-on learning ti Customized Programs environment. Students will need to bring a laptop with a CD ...................................................... . drive and Excel 2000 or later. Workshop space is limited; early registration Is advised. What You Will Learn • Techniques to create and manipulate a pro forma using Excel • Excel design guidelines. • Pro -forma cash flow statements. • The ability to analyze any real estate venture. • An increase in your ability to evaluate site selection, cash flow, financing, and valuation. • Step-by-step instructions in inputs, formulas, and techniques. Who Should Attend Designed especially for nonfinance professionals who want to use Excel software to program and develop a real estate pro - forma. Principal Instructor Richard L. Haney, Jr. Professor of Real Estate and Finance Mays Business School } Texas A&M University Nt WS Upcoming Worl August 8-9, 201 Seattle, Washing Course # S 13216 You can registe 1. Online, visit www.uli.org. 2. Call 800-321- 410-626-7500 w card information. 3. Fax your forn- card information http://www.uI i.org/AM/Template-cfm?Section=Workshops&CONTENTID=26390&TEM... 6/29/2005 ULI - the Urban Land Institute I Pro -forma Modeling Using Excel Page 2 of 3 College Station, Texas Dick Haney, PhD, is a specialist in real estate finance, development, and appraisal and a professor of real estate and finance. His teaching responsibilities include graduate courses in real estate finance, development, valuation, and mortgage market analysis. He has published widely in academic and professional journals and has extensive experience teaching professional development courses, including 16 years of teaching in the ULI Real Estate School. Haney also is coauthor of three textbooks, including the second edition of the ULI textbook, Real Estate Development: Principles and Process. Overview • A Use Looking for a Site • A Site Looking for a Use • Excel Design Guidelines • Pro -forma Cash Flow Statements • Financing and Valuation • Assessing Development Costs • Office, Multi -Family, and Retail Pro-formas Registration, Cancellations, and Discounts Register early! Space is limited at each workshop and applications are taken on a first -come, first -served basis. Registration will be confirmed when payment is received. Registration fee includes tuition, course materials, a luncheon, and refreshments. An additional $100 charge applies to registrations received after August 1, 2005 for the Seattle program. Cancellations must be made in writing to ULI's Events Management Department and will be subject to a $100 administrative fee. Cancellations must be received at least 7 days prior to the start of the workshop to be eligible for a refund. No refunds will be granted thereafter. Registrations may be transferred, without penalty, to another member of the same organization. Group discounts apply if three or more employees from the same company or organization attend the same program. Call David Mulvihill at 202-624-7122 for a special price. Savings of 5 to 15% are available on United Airlines and their code -share partner, US Airways. Call United Airlines at 800-521-4041 between 8:00 a.m. and 10:00 p.m. EST and mention "ULI file #581PT." The discount applies on all United, United Express, and United code -share flights (US) operated by US Airways, US Airways Express, and Air Canada. Mileage Plus members receive full credit for all miles flown to this meeting. Accommodations Hotel accommodations are not included in the workshop registration fee. A special ULI room rate is available at the hotels below until the deadline noted. To reserve a room at the reduced rate, call the hotel directly before the deadline and mention you are attending the Urban Land Institute workshop. You are advised to make your reservation early. Seattle, Washington Program Grand Hyatt Seattle 202-624-7147. 4. Mail complete registration form Workshop Regist the Urban Land I 1025 Thomas Jell Street, N.W., Sui West, Washingto 20007-5201. Registration Fe ULI Member: $7. Nonmember: $8: Government and Nonprofit: $575 Continuing Educz Hours: 12 Questions? Spe needs? Call 80( 5011. Schedule Note Registration on C 8:00 a.m.-8:30 , Program 8:30 a.m.-5:00 Lunch 12:30 p.m.-1:3C Program Manac David A. Mulvihif http://www.uli.org/AM/-Femplate.cfm?Section=Workshops&CONTENTI D=26390&TEM... 6/29/2005 ULI - the Urban Land Institute I Pro -forma Modeling Using Excel Page 3 of 3 721 Pine Street Seattle, WA 98101 Phone: 206-774-1234 Fax:206-625-6221 Room rate: $195 single/double Hotel reservation deadline: July 20, 2005 Cancellation deadline for workshop: August 1, 2005 Registration Form, Seattle (pdf) Related Files Registration Form (PDF File) Registration Form (Seattle) (PDF File) Meetings & Education Research Programs & Services News in the Community Home © 2005 Urban Land Institute (ULI). All rights reserved. http://www.uli.org/AM/Template.cfin?Section=Workshops&CONTENTID=26390&TEM... 6/29/2005