TO: Chair and Members of the Board
FROM: Diane Colonna, Executive Director
DATE: April 12, 2017
Title
SELECTION OF A PROPERTY MANAGEMENT FIRM FOR CONTINUING CONTRACT SERVICES
Body
BACKGROUND: Due to the fact that the MCRA's 3-year agreement for property management services was expiring, in January of this year a Request For Proposals (RFP) was issued for property management services on a continuing contract basis Two firms responded, the MCRA's current management company- Advanced Asset Management, and Property Management, Inc. - Fort Lauderdale.
The responses were reviewed by a selection committee consisting of the City's Building Division Leader and the two MCRA Project Managers. The two respondents were invited to make presentations to the committee, and a final ranking was conducted. Evaluation points were issued in five categories with a 20 point possible maximum value for each category, for a grand total of 100 points based on the following criteria:
1) company experience
2) project manager experience
3) service and communication delivery method
4) budgeting, accounting and reporting methodology
5) proposed fee schedule.
The results of the ranking are as follows:
1. Advanced Asset Management 232 points
2. Property Management, Inc. - Fort Lauderdale 225 points
Additional background on the review and ranking process is described below.
After the presentations, the committee felt clarification was needed on the costs submitted by each firm for the line items of the property management scope and the rates for securing leases with new tenants. A Clarification of Fee Schedule was issued after the presentations which better defined what should be included under the following fee categories:
1) Property Management fee - based on a lump sum cost per year; and
2) Leasing fees - fee charged for leasing tenant spaces, either a lump sum charge per lease or a fee based on a percentage of the lease value
Both firms resubmitted their e...
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