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HomeMy WebLinkAbout1998-08-24 98-344 ORDERWIMMiXL ACTION Date: 8ipmunf 24. 1998 Item No. $g-344 Itm/subjeet: Authorizing the City Manager to Execute Contract For Professional Services - Marketing& Sale of Randolph Drive and Maxwell Lane Single Family Homes - Realty Executives Responsible Deparmmb Community& Economic Development Commentary: See Attached Memo. This item was reviewed by the Finance Container which rewmmends approval. Dtitidirtment Hp d Manager's Comments: City Manager Associated Information© t Budget Approval: Finance D3reC[Or Legal Approval: �����{91 ✓✓�///�////�N�� '/ t�_ Introduced For Passage 0 First Reading 0 Referral Page-1--of 2 Aai relto Councilor euhmau August 24, 1998 �p CITY OF BANGOR V1f QITLE.) r31Er, ................ Authorizing the tarty Manager no Execute Contact_ For Professional Services - Marketing & Sale ofRarWolph Drive and Maxwell Lano Single Family Homes -Realty Executives ............. .. ............. _ -_ _.._ _.. .-... By the City Council of the acro OfB6unoa: ORDERED, THAT the City Manager is hereby authorized to execute a Contact for Professional Services with Realty Executives, in a form approved by tM City Solicitor or Assistam City Solicitor, to provide real estate nucleating, sales and educational services involving 51 vacant former military housing units located on Randolph Drive and Maxwell Lane. IN CPTY COUNCIL August 24, 1998 Passed I LEAN 98-344 ORDER Title, Authorizing the City Manager to Execute Contract for Professional Sen - leas - Marketing 6 Sale of Randollb D�3�e'and'ha:e«li'Lana.91ngle' Paas iy'. homes Realty Executives .....- ............................... G. Auigned to Councilman 98-344 1 Memorandum To: I Finance Committee Members From: DavidlV Pellegrino, Purchasing Agent Date: 811411998 Subject: Selection ofRealtor to Sell 51 Vacant Single Family Homes on Randolph Drive and Maxwell Lane Six proposals were received on July 22,1998 and they were from Realty Executives, Mark StimsoNTown & Country, Bangor Real Estate, Free to See/Brooks Brothers, Quant City Real Estate and PmdendaVSingleton Real Estate. A selectiodyommittee consisting of 44 AeKW, Stan Moses, T.I. Monorail, and Sally Burgess from Community Development and I reviewed the proposals and selected Bangor Real Estate, Town & Country and Realty Executives for further consideration. On Tuesday, August 11, 1998 the three flows made presentations to the selection committee with question/answer and discussions held with each proposer. All of the Realtors had extensive experience in the Bangor real estate market, and each ofthefums Proposed comprehensive but differing marketing strategies. Nlofthefirms requested a 5% commission and 6%ifco-brokered. Each of the proposers bad established relationsidps with financial institutions and were familiar with the federal programs for low and moderate income home buyers. in, short, all three firms are very accomplished at selling real estate and each would do an excellemjob forthe City in this regard. The only real difference among the three is that RealtyExecutives has an existing, established partnership with Penquis CAP. This agencybas extensiveexpenence with andprovides anumber offederahly assisted home buying and repair programs such as the "Our ME Program",'Pix ME" Program, "Down Home', and "MSHA First Time Home Buyers". Penquis alm has apool of pre qualified eligible home buyers that may be utilized in the sale of these homes. In addition m the Penquis partnership Martin "Mickey" Schneider of Realty Executives has been teaching the required "First Time Home Buyers" course over the Previous 2 X years. no established Partnership with Partials CAP was the primary reason for the selection committee's recommendation to award the contract to Realty Executives.