Title
Second Amendment to Contract with Asset Property Disposition, Inc (B)
Explanation
APD, Inc. has been a crucial part of the Model Block program and the Northwest 5th Avenue Corridor work in the Fifth Avenue/Pleasant Street Redevelopment Area. APD, Inc. was responsible to bring both the National Trust for Historic Preservation and Freddie Mac to the Model Block project, as well as developing key strategies for property acquisitions and redevelopment activities. The CRA has, in the past, considered APD, Inc. a specified source because of its expertise in this field and staff continues to designate APD as a specified source in this area. APD, Inc. has over 25 years experience in developing projects similar to those planned in the FAPS district.
The current scope includes continued support for the Model Block project, but also shifts the focus of APD, Inc.'s work. On the Fifth Avenue Model Block, APD, Inc. will facilitate the development of vacant lots through marketing materials and bid packages. On the Pleasant Street Model Block, APD, Inc. will work closely with CRA staff on the construction and sale of properties. On the Northwest Fifth Avenue Commercial Corridor, APD, Inc. will refine the site plan, acquire site control, and recommend an incentive package to offer prospective developers and retailers.
The total cost for this amendment is $8,500.
Fiscal Note
The total cost for this amendment is $8,500. $3,000 can be allocated from the Model Block Project Account and $5,500 can be allocated from the Northwest Fifth Avenue Streetscape account.
Recommendation
Executive Director to the CRA: Recommend approval of the second amendment of contract with Asset Property Disposition, Inc. for a not to exceed amount of $8,500 and recommend extension of the agreement for six months, to March 30, 2006.