HomeMy WebLinkAboutFIN-07-034 - P07-020 - Real Estate ServicesReport To: Mayor Carl Zehr & Members of Council
Date of Meeting: 2007-04-16
Prepared By: Larry Gordon
Date of Report: 2007-04-11
Report No: FIN 07-034
Subject: P07-020 -Real Estate Services
RECOMMENDATION
That proposal P07-020, Real Estate Services, be awarded to Coldwell Banker Commercial Peter
Benninger Reality, Kitchener, on an "as required" basis for a one (1) year period, with an option
to renew for two (2) additional one year terms.
BACKGROUND
The intent of the real estate contract is for the provision of strategic consulting advice for the
acquisition and disposition of properties. Specialized real estate services are also required to
assist with the implementation of the Corporation's Asset Management Strategy and
prioritization of projects for Capital Investment.
REPORT
The Proposal was advertised publicly in The Record, on the City of Kitchener website and on the
Internet through the Ontario Public Buyers Electronic Tendering Information System.
Documents were picked up by seven (7) potential bidders, and by the closing date of Friday
February 23'd, 2007, four (4) proposals had been received.
A review committee was established consisting of H. Gross, Director of Project Administration
and Economic Development, R. Morgan, Capital Investment Advisor and L. Gordon, Director of
Purchasing. The committee reviewed the submissions and shortlisted two firms for further
interviews.
The committee met on Monday April 2nd, 2007 to interview the shortlisted candidates. The
committee elected to award the proposal to Coldwell Bankers Commercial Peter Benninger
Reality, Kitchener.
The following proposals were received:
CB Richard Ellis Ltd. Kitchener, ON
Coldwell Banker Commercial Peter Benninger Reality Kitchener, ON
Coushman & Wakefield LePage Inc. Toronto, ON
J.J. Barnicke Whitney Ltd. Waterloo, ON
FINANCIAL IMPLICATIONS
Funding will be provided from the Asset Management Reserve Fund or other various capital and
operating indices, depending on the project.
Larry Gordon
Director of Purchasing