CITY OF EL PASO, TEXAS
LEGISTAR AGENDA ITEM SUMMARY FORM
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Details
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Purchasing and Strategic Sourcing, K. Nicole Cote, (915) 212-1092
Streets and Maintenance, Richard J. Bristol, (915) 212-7000
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AGENDA LANGUAGE:
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Title
The linkage to the Strategic Plan is subsection: 6.5 Deliver services timely and effectively with focus on continual improvement.
Award Summary:
Discussion and action on the award of Solicitation 2024-0584R Real Estate Management (Re-Bid) to CAP Rate Real Estate Group for an initial term of three (3) years for an estimated amount of $900,000.00. The award also includes two (2), one (1) year options for an estimated amount of $600,000.00. The total contract time is for five (5) years for a total estimated amount of $1,500,000.00. This contract will allow for real estate management services needed for real estate transactions.
Contract Variance:
No variance in comparison to the previous contract awarded for these services due to the same budgeted amount being recommended for award.
Department: Streets and Maintenance
Award to: CAP Rate Real Estate Group
City & State: El Paso, TX
Item(s): All
Initial Term: 3 Years
Option Term: 2 - 1 Year
Total Contract Time: 5 Years
Annual Estimated Award: $300,000.00
Initial Term Estimated Award: $900,000.00
Option Term Estimated Award: $600,000.00
Total Estimated Award: $1,500,000.00
Account(s) 532-1000-521020-32080
Funding Source(s): General Fund
District(s): All
This was a Request for Proposals Procurement - service contract.
The Purchasing & Strategic Sourcing and Streets and Maintenance Departments recommend award as indicated to CAP Rate Real Estate Group the highest ranked offeror based on the evaluation factors established in the evaluation criteria for this procurement.
It is requested that the City Manager be authorized to establish the funding sources and make any necessary budget transfers and execute any and all documents necessary for execution of this award.
In accordance with this award, the City Manager or designee is authorized to exercise future options if needed.
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