Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Mark Church, Assessor-County Clerk-Recorder & Chief Elections Officer
Subject: Amendment to Agreement with C3 AI Extending the Term from October 31, 2021 to March 31, 2022 and Increasing the Amount by $200,000 to Provide an Appraisal Valuation Pilot Project Utilizing Artificial Intelligence (AI) Tools and Analytics
RECOMMENDATION:
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Adopt a resolution authorizing an amendment to the agreement with C3 AI for the pilot services, extending the term from October 31, 2021, to March 31, 2022, and increasing the amount by $200,000 for a new not to exceed amount of $400,000.
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BACKGROUND:
On April 30, 2021, the Assessor-County Clerk-Recorder and Elections Department (ACRE) signed an Agreement (Agreement No. 13000-21-D025) with C3 AI to build an Appraisal Valuation pilot application to demonstrate the value of an application/product utilizing Artificial Intelligence tools and analytics for commercial property valuation.
The proposed Amendment 1 to Agreement with C3 AI Appraisal Valuation Pilot Project will expand the development of the appraisal valuation pilot application to provide Artificial Intelligence tools and analytics for Residential Property appraisals and valuation.
DISCUSSION:
ACRE's project strategy calls for another Property Appraisal Valuation Pilot project to understand more about the applicability of AI/ML to the valuation of residential properties. The lessons learned from the two pilot projects will help the ACRE team to develop a Request for Proposal (RFP) for an AI-based property valuation solution based on the three valuation approaches - Sales Comparison Approach, Cost Approach, and Income Capitalization Approach.
The contract with C3 AI (Agreement No. 13000-21-D025) ended on October 31, 2021. ACRE is recommending the C3 AI contract be extended from October 31, 2021, to March 31, 2022, and increase the Agreement amo...
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