Item:
Title
Approval of Contract with BBG Real Estate Services for Commercial Real Estate Valuation Consultation Services for Durham County Tax Administration, Request for Proposal (RFP) 24-043
Body
Date of BOCC Meeting: July 8, 2024
Request for Board Action:
Agenda Text
The Board is requested to approve a contract with BBG Real Estate Services in the amount of $175,000 for providing data and analysis services regarding commercial real estate income, expense and capitalization rates to be used in the valuation of income producing property.
Durham County issued the Request for Proposals (RFP 24-043) on May 5, 2024, through May 30, 2024. Four proposals were received. Based on a review of the four proposals, BBG Real Estate Services was chosen based on their experience working in and with tax offices, their proven ability to meet the RFP requirements and their quantity and quality of data. The proposal bid tabulation is attached.
In review of the MWBE Compliance for RFP 24-043 Consulting Services for Commercial Real Estate Valuations, there were no MWBE participation goals achieved on this project. BBG, Inc. will be utilizing their own workforce to perform the service on this project.
Alignment with Strategic Plan: Goal 5, Accountable, Efficient, Visionary Government
Resource Persons: Keyar Doyle, Tax Administrator; Starlin Beatty, Deputy Tax Assessor
County Manager’s Recommendation: The County Manager recommends that the Board approve the contract with BBG Real Estate Services in the amount of $175,000 for providing data and analysis services regarding commercial real estate income, expense, and capitalization rates to be used in the valuation of income producing property.
Signature
County Manager: ____________________________