City Council
November 7, 2023
AGENDA REPORT
TO: Jestin D. Johnson,
City Administrator
FROM: Sofia Navarro, Interim
Director of Economic &
Workforce Development
Department
SUBJECT: Supplemental - On-Call Appraisal,
Title and Escrow Contracts
DATE: October 30, 2023
City Administrator Approval Date:
RECOMMENDATION
Staff Recommends That The City Council Adopt A Resolution Authorizing The City Administrator To Negotiate And Execute Seven (7) On Call Professional Service Agreements For Real Estate Appraisal, Title And Escrow Services In Amounts Not To Exceed Five Hundred Thousand Dollars ($500,000) Per Vendor, Totaling Three Million Five Hundred Thousand Dollars ($3,500,000) For All Vendors Combined Over A Five-Year Term, With Bender Rosenthal Inc., Colliers International, Yovino-Young Inc., Integra Realty Resources, Valbridge Property Advisors, Chicago Title Company and Old Republic Title Company
REASON FOR SUPPLEMENTAL
On October 24, 2023, the Community and Economic Development (CED) Committee considered a recommendation from the Economic & Workforce Development Department for the City of Oakland (City) to enter into seven (7) on-call professional service agreements for real estate appraisal, title and escrow services in amounts not to exceed Three Million Five Hundred Thousand Dollars ($3,500,000) combined for the following vendors: Bender Rosenthal Inc., Colliers International, Yovino-Young Inc., Integra Realty Resources, Valbridge Property Advisors, Chicago Title Company and Old Republic Title Company.
Real estate appraisal, title and escrow services are specialized services that support the real estate work of the City. Consistent with industry best practice, these services are provided by third-party vendors, who possess the necessary expertise, information systems, certifications, licensing and impartiality that these services require. The seven vendor agreements would be for a period of five (5) years and allow for expenditures of up to $500,000 per vendor each year or $3.5 million in aggregate. The recommended vendors were selected pursuant to competitive requests for proposals/qualifications.
Oct 30, 2023
Jestin D. Johnson, City Administrator
Subject: Supplemental - On-Call Appraisal, Title and Escrow Contracts Date: October 30, 2023 Page 2
City Council
November 7, 2023
At its October 24th meeting, the CED Committee requested that City staff provide a supplemental report on whether any complaints have been filed with the State of California against any of the recommended seven vendors.
City real estate staff have since reviewed records maintained by the State Department of Consumer Affairs’ Bureau of Real Estate Appraisers1 (Bureau) and found no indication of claims or disciplinary actions against any of the recommended vendors. Bureau staff confirmed these findings in direct correspondence with City real estate staff.
For questions regarding this report, please contact Brendan Moriarty at [email protected] or (510) 238-6354.
Respectfully submitted,
SOFIA NAVARRO,
Interim Director, Economic and Workforce
Development Department
Prepared by:
Brendan Moriarty, Real Property Asset
Manager
1 Available at https://www2.brea.ca.gov/breasearch/faces/party/search.xhtml