The vendor is required to provide real estate services to assist in the evaluation, analysis, and strategic recommendations for current and potential district-owned properties.
- The selected real estate firm will be expected to perform the following tasks and services:
- Site, Asset, and Relevant Municipal Data Gathering:
- Review all available information for each identified site, including but not limited to:
•Current leases and/or licenses
•Title reports
•Encroachments, easements, or other relevant elements at each site
•Zoning and land use information
•Education Code, agency Facilities Plans, or other relevant documents related to site
•utilization
•Facilities reports on deferred maintenance for subject sites
•Parking availability for subject sites
•agency short, mid, and long-term utilization plans for each site (obtained through interviews with District leadership)
•Local municipality (City and/or County) land use plans related to each site
oLead communication with local municipalities (City and/or County) to discuss potential alternative land uses, including zoning, planning, and building regulations
oPrepare and submit a report summarizing all relevant data points
- Market Analysis:
oResearch and catalog market analysis for both improved (building) and unimproved (land) properties, including comparable leases and estimated market values for both disposition and alternate uses.
oInvestigate and catalog market values for alternative land uses (e.g., retail, housing, or other developments) specific to each site.
oIdentify and evaluate additional demands for potential uses of each site.
- Estimated Market Values:
oDerive estimated market values for leasing and sale across multiple use cases, including but not limited to:
oCurrent use
oRetail
oOffice
oIndustrial (if applicable)
oinstitutional
oEducational
oGround lease
oCoordinate and manage formal appraisals for any/all assets, if requested by the District.
- Strategy Recommendations
•Current Contract Analysis:
oBased on gathered data, propose the optimal contract structure, terms, and rates for all current leases and licenses.
•Alternate Uses Analysis:
oProvide recommendations on potential income streams from alternate uses, including costs associated with preparing properties for such uses.
•Final Recommendations:
oProvide a final report with strategic recommendations for each site, including:
oImpact on schedule
oBudget considerations
oUtilization recommendations (short-term, mid-term, and long-term plans)