Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing Appropriate City Officials To Execute A Statement Of Work With CBRE, Inc. For Real Estate Brokerage And Consulting Services, In An Annual Amount Not To Exceed $130,000.00, Based Upon The State Of Florida, Department Of Management Services Invitation To Bid No. DMS-12/13-007 And In Accordance With Section 38.40(C)(5) Of The Code Of Ordinances (Piggyback); Amending The Fiscal Year 2020 Operating Budget (R-2019-283).
Body
Staff Recommends: Approval of Resolution.
Explanation:
The City has a need for professional real estate brokerage and consulting services for the acquisition and disposition of real property assets, including real estate portfolio planning and management, asset valuations, and RFP development, distribution and analysis.
On April 9, 2014, the State of Florida acting through the Department of Management Services entered into a contract DMS-12/13-007A for tenant broker and real estate consulting services with CBRE, Inc. (“CBRE”) and has renewed the contract through April 8, 2024.
The City Commission approved Resolution 2019-101 on May 1, 2019 authorizing the City to utilize the state contract DMS-12/13-007A with CBRE for the same services, and under the same pricing and terms in an amount not to exceed $40,000.00. In accordance with the State contract, CBRE will assist the City by providing portfolio strategy and real estate consulting based upon the compensation provisions that allow for a flat fee for services or a maximum hourly rate schedule for which the total contract amount shall not exceed $130,000.00.
In accordance with the State contract, CBRE will also assist the City in providing specific real estate transactional services for the lease or sale of City property pursuant to the City’s charter, code of ordinances and regulations, and upon City Commission approval of such an agreement. For these services CBRE will be entitled to a negotiated percentage-based commission to be paid by the lessor or purchaser.
Recommended for inclusion on the agenda by:
Raelin Storey, Director, Communications, Marketing & Economic Development
Shiv Newaldass, Director, Development Services
Gus Zambrano, Assistant City Manager/Sustainable Development