CITY OF EL PASO, TEXAS
LEGISTAR AGENDA ITEM SUMMARY FORM
DISTRICT, DEPARTMENT, CONTACT INFORMATION:
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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 bas...
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