Title
Real Estate Appraisal Review Services
Action
Action:
A. Approve unit price contracts with the following companies for real estate appraisal review services for an initial term of three years:
For projects funded with local funds:
- Absolute Appraisal & Acquisition, LLC;
- John Bosworth & Assoc., LLC dba Valbridge Property Advisors;
- Kack Consulting Group, LLC;
- Randy W. Hopkins, dba Hopkins Consulting and Review, LLC;
- The Hanes Group, Inc.;
- William R. Morgan Company; and
For projects funded by the Federal Highway Administration/North Carolina Department of Transportation:
- Kack Consulting Group, LLC;
- Randy W. Hopkins, dba Hopkins Consulting and Review, LLC;
- The Hanes Group, Inc.; and
- William R. Morgan Company; and
For projects funded by the Federal Transit Administration:
- Absolute Appraisal & Acquisition, LLC;
- The Hanes Group, Inc.;
- William R. Morgan Company; and
For projects funded by the Department of Housing and Urban Development:
- Kack Consulting Group, LLC; and
B. Authorize the City Manager to renew the contracts for up to two, one-year terms with possible price adjustments and to amend the contracts consistent with the purpose for which the contracts were approved.
Body
Staff Resource(s):
Phil Reiger, General Services
Jennifer Smith, General Services
Tony Korolos, General Services
Explanation
§ As part of the real estate acquisition phase, real estate appraisal review services are required for all federal-, state-, and locally-funded Capital Investment Plan projects.
§ Appraisal services are used to conduct an appraisal of a property. The function of the appraisal review is to analyze the contents of the appraisal report for credibility and market support.
§ Independent real estate appraisal review services serve as an important quality control measure.
§ On September 15, 2020, the city issued a Request for Proposals (RFP); 18 responses were received.
§ The companies selected best meet the city’s needs in terms of qualifications, experience, cost, and responsiveness to RFP requirements.
§ Total annual expenditures are estimated to be $550,000.
Charlotte Business INClusion
Randy W. Hopkins dba Hopkins Consulting and Review, LLC is a city certified WBE firm.
Per Charlotte Business INClusion Policy: Part C: Section 2.1(a) The city shall not establish Subcontracting Goals for Contracts where (a) there are no subcontracting opportunities identified for the Contract; or (b) there are no MWBEs or SBEs certified to perform the scopes of work that the city regards as realistic opportunities for subcontracting.
This contract meets the provision of (a) - No subcontracting opportunities.
For federally-funded projects:
Disadvantaged Business Enterprise (DBE)
No goals shall be established on Contracts where: (a) there are no subcontracting opportunities identified for the Contract; or (b) there are no DBEs certified to perform the scopes of work that the city regards as realistic opportunities for subcontracting.
These contracts meet the provisions of (a) - No subcontracting opportunities.
Fiscal Note
Funding: General Capital Investment Plan, CATS Capital Investment Plan, HOME Investment Partnerships Grant, and Community Development Block Grant