The vendor is required to provide real estate appraisal services to support its ongoing needs in evaluating and assessing various real assets and interests.
- Real estate appraisal services firms for the valuation of property, leasehold interests, and furniture, fixtures, and equipment
- Prepare valuations for various real estate interests, including but not limited to, real estate appraisals determining fair market value (FMV) of fee title, fair market rent (FMR) adjustments, third party appraisal review, and leasehold interests
- Communication and management:
• The real estate development bureau in the department of economic development will serve as the contract administrator for the city.
• The city and firm(s) will actively and regularly work together to identify the overall goals and accomplishments required at the onset of each appraisal, track progress of each appraisal report including pertinent deadlines and requirements
• The firm(s) shall acknowledge receipt of a city service request within 24 hours and notify the city within 24 hours of starting a requested service/project.
• The firm(s) shall notify the city within 24 hours of firm’s awareness of any real or potential challenge, conflict, or change that may arise in the process of completing each report.
- Contract payment
• The city of long beach issues payment based upon services rendered.
• After a contract is finalized and work is completed, the firm should invoice the city within 30 days of the last service date.
• Services shall not remain unbilled for over 30 days after being rendered.
- Contract Period/Term: 5 years
- Questions/Inquires Deadline: April 23, 2025