TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Kim Summers, City Manager
PREPARED BY: Isaac Bravo, Management Analyst
SUBJECT: Award for On-Call Professional Real Estate Services
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RECOMMENDATION
recommendation
1) Award a two-year agreement to Kosmont Real Estate Services dba Kosmont Realty, for on-
call professional real estate services in an amount not to exceed $150,000;
2) Authorize the City Manager to execute the agreement with the option to extend for up to
three additional one-year terms; and
3) Amend the FY 2023/24 and FY 2024/25 Operating Budget by $150,000 and appropriate
funding from the General Fund unassigned fund balance.
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PRIOR ACTION/VOTE
None.
CITY COUNCIL GOAL
Plan, program and create infrastructure development.
BACKGROUND
The City of Murrieta (City) owns several parcels and facilities throughout the City. There are several proposed projects that will need real estate transaction services, including the dispensation of City parcels for commercial development, City Hall expansion, and acquisition of Fire Station No. 6. Presently, no staff or department can provide licensed commercial real estate services. A consultant is needed to assist City staff with a range of real estate transaction services, including property acquisition, dispensation, and appraisal of properties.
On July 14, 2023, the City released a request for proposals (RFP) soliciting proposals for On-Call Real Estate Professional Services. The City received three proposals, and the companies which submitted proposals are listed in alphabetical order below:
CBRE, Inc.
Interwest Consultant Group, Inc.
Kosmont Realty
The proposals were assessed by an evaluation committee consisting of the Economic Development Director, Business Development Manager, and Management Analyst from the City Manager's Office. Evaluations were based on the following criteria:
* Firm/Team Experience (50%)
* Relevant Project Experience (2...
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