Staff recommends adoption of the resolution authorizing execution of the agreement with Parent Management Company, Inc. pursuant to RFP 70022 to provide property management services.
The Housing and Economic Development Department was directed to hire a firm to provide property management services for the Kristen Court Apartments that were recently purchased by the City. The successful firm is to provide complete and comprehensive property management services for the City.
On October 16, 2006 the Purchasing Division issued RFP 70022 soliciting qualified firms to provide property management services. The request was advertised in the local paper as well as direct notification of local firms. On November 7, 2006 the Purchasing Division received two responses. An evaluation committee of two city staff members and one advisory board member evaluated the proposals. Parent Management Company, Inc. was determined to have submitted the proposal that best addressed the City’s needs and requirements. A summary of the evaluation ranking is attached.
The agreement with Parent Management Company, Inc. provides a 12% fee for their services. The firm will be responsible for collecting all rents. Each month they will submit payment to the City for rents collected, less their fee and any authorized expenses during the period. Accompanying the payment will be a detailed statement of collections, non-collections, fees, and expenses. With a 12% fee and assuming 100% occupancy the estimated annual cost of the service is $42,000.
1. Approve the attached resolution authorizing the execution of the agreement with Parent
Management Company, Inc.; or
2. Such alternative action as the Commission may deem appropriate
The estimated annual cost to the City for this service is $42,000. The service fee amount will be deducted by the firm when submitting payment for rents collected each month.
Department: Housing & Economic Dev._
Prepared by: Mike Thornton__________
Attachments: Yes__X_ No ______
Advertised: _X__Not Required ______
Dates: October 15, 2006_____________
Attorney Review : Yes_X_ No ____
Reviewed by: Dept. Head ________
Finance Dept. _____wp_____________
Deputy C.M. ___________________
City Manager ________RS___________
Account No. ____NA___________
Project No. _____NA___________
WF No. ______________________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZAING THE MAYOR AND CITY CLERK TO EXECUTE AN AGREEMENT WITH PARENT MANAGEMENT, INC. FOR PROVIDING PROPERTY MANAGEMENT SERVICES AT THE KRISTEN COURT APARTMENTS; AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:
THAT the Mayor and City Clerk are hereby authorized to execute an agreement with PARENT MANAGEMENT COMPANY, INC., whose address is 613 South 12th Street, Leesburg, Florida 34748 to provide property management services at the Kristen Court Apartments pursuant to RFP 70022.
THAT this resolution shall become effective immediately.
PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _27th____ day of _November________ 2006.