TITLE
Recommendation to adopt Specifications No. RFP EP16-089 and award contracts to R. P. Laurain & Associates, Inc., of Long Beach, CA; Lidgard and Associates, Inc., of Orange, CA; Hawran & Malm, LLC, of Newport Beach, CA; Ellis Group, Inc., dba Integra Realty Resources - Los Angeles, of Encino, CA; and Valentine Appraisal & Associates, of Santa Clarita, CA, for as-needed real estate appraisal services in an aggregate amount not to exceed $600,000 over a three-year term, with the option to renew for one additional one-year period at the discretion of the City Manager; and authorize City Manager to execute all documents necessary to enter into the contracts, including any necessary amendments thereto relative to extending the terms, changing the contract dollar amounts, authorizing additional services, if required, within the provisions of the agreements, and adjusting the fee schedules for inflation, all provided that the aggregate total amount of contract authority is not exceeded. (Citywide)
DISCUSSION
City Council approval is requested to enter into agreements with five firms for as-needed real estate appraisal services. Historically, the City of Long Beach (City) has used outside firms on an as-needed basis to provide the City with these necessary specialized real estate services. These services will be utilized to address planned projects for City departments such as real property appraisals as well as fair market value adustments to the base rent of various long-term ground leases throughout the City, most notably at the Long Beach Airport and within the marinas. Terms of these ground leases require that the monthly base rent be adjusted periodically and for that adjustment to be determined by a fair market appraisal. In addition, appraisal services will also be utilized for any unforeseen projects over the course of the next three to four years including any property acquisitions and/or dispositions. At this time, all prior agreements for these ...
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