TITLE
Recommendation to adopt Specifications No. RFP EP19-011 and award contracts to Hawran and Malm, LLC, of Newport Beach, CA; Integra Realty Resources - Los Angeles, of Encino, CA; Mason & Mason Real Estate Appraisers & Consultants, of Montrose, CA; R.P. Laurain & Associates, Inc., of Long Beach, CA; and Valentine Appraisal & Associates, of Santa Clarita, CA, for as-needed real estate appraisal services, in an aggregate amount not to exceed $900,000, for a period of two years, with the option to renew for three additional one-year periods, at the discretion of the City Manager; and, authorize City Manager, or designee, to execute all documents necessary to enter into the contracts, including any necessary amendments provided the aggregate total amount is not exceeded. (Citywide)
DISCUSSION
City Council approval is requested to enter into contracts with Hawran and Malm, LLC, Integra Realty Resources - Los Angeles, Mason & Mason Real Estate Appraisers & Consultants, R.P. Laurain & Associates, Inc., and Valentine Appraisal & Associates, for as-needed real estate appraisal services.
Historically, the City of Long Beach (City) uses outside firms on an as-needed basis to supplement City staff with necessary real estate appraisal services for the valuation of land or property. These specialized services are being procured to meet the needs of City departments for current as well as unforeseen projects that will arise over the next few years, most notably for fair market value adjustments to the base rent of various long-term ground leases throughout the City, including 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 be utilized for any property acquisitions and/or dispositions. Prior agreements for these specialized professional services have expired.
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