Title
Resolution Authorizing the Award of Contracts for On-Call Commercial Real Estate Brokerage Services to Various Firms
Body
LEGISLATIVE INTENT/PURPOSE:
WHEREAS, the City owns numerous parcels of real property located throughout the City; and,
WHEREAS, the City desires to engage in the disposition of surplus real property in accordance with North Carolina General Statutes to produce immediate value to public for the property in the form of sale proceeds and long term value by enhancing the City’s tax base; and,
WHEREAS, a public procurement process was initiated on April 19, 2024, and concluded on May 16, 2024, to solicit qualifications and proposals from firms capable of providing commercial real estate brokerage services to facilitate the sale of City-owned, surplus real property in accordance with state law; and,
WHEREAS, after careful consideration and evaluation of all proposals submitted, the City has identified four reputable firms with a proven track of delivering quality results, including Jones Lang Lasalle IP, Inc. (“JLL”), Cape Fear Commercial, LLC, Sun Coast Partners, LLC and TJT Management Company, LLC; and,
WHEREAS, in addition to entering into contracts for on-call brokerage services, this resolution would authorize the City Manager to execute task orders in the form of traditional property listing agreements for each property that is to be sold; and,
WHEREAS, staff would seek proposals for each task order from each of the four firms and select a firm to perform the work based on the qualifications exhibited in the proposals, proposed compensation, and demonstrated capacity to take on the workload; and,
WHEREAS, all contemplated dispositions of real property would require a subsequent Council vote to authorize, and would be carried out in accordance with state law, and no compensation to any firm would be rendered unless a transaction was approved by Council and then successfully closed; and,
WHEREAS, entering into on-call professional services agreements with these firms to provide commercial real estate brokerage services as needed on a task order basis aligns with the City’s strategic goals and objectives.
THEREFORE, BE IT RESOLVED:
THAT, the City Manager is authorized to execute four on-call professional services agreements with Jones Lang Lasalle IP, Inc., Cape Fear Commercial, LLC, Sun Coast Partners, LLC, and TJT Management Company, LLC, to provide professional commercial real estate brokerage services.
THAT, the City Manager is authorized to execute any additional contracts or agreements, including property listing agreements, which are necessary under the on-call contracts.
THAT, the on-call professional services agreements shall be effective for an initial term of two (2) years from the date of execution, with the option for an additional two (2) year renewal, at the discretion of the City Manager, and upon mutual agreement of the parties to each agreement.