Title
Contract with Asset Property Disposition, Inc. (B)
Explanation
At the May 24, 2005 Fifth Avenue Pleasant Street (FAPS) Redevelopment Advisory Board meeting, the Board approved a motion to continue the services of Asset Property Disposition, Inc. (APD, Inc.) for another six months. APD, Inc. has been a crucial part of the Model Block program and the Northwest 5th Avenue Corridor work in the FAPS district. ADP, 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.
Jesse Wiles, President of ADP, Inc., met with the Advisory Board on several occasions to define the next scope of work and the Board considered several options before approving this scope. The Board believes that APD Inc. has been key to the progress in the district and is confident that in working with APD, Inc. on this new Scope, the Board will experience the same level of success that was experienced in the past.
The current scope included continued support for the Model Block project, but shifts the focus of ADP Inc.'s work on the Northwest 5th Avenue Commercial Corridor redevelopment to include a parking strategy, assistance in developing the RFP for a Mixed Use building, research into New Market and Historic Preservation Tax Credits in the district, and new and local small business development strategies. Once the small business development strategies have been defined, staff will work the City's Economic Development Department on implementation.
The total cost for this contract is $35,000. The CRA currently has $19,489 in an account for the sunset Façade Grant program that could be budgeted for the contract. The CRA has received a loan repayment of $19,894 of which $15,511 could be...
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