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San Mateo Union High School District : Approval to Proceed with Issuing a Request for Proposal for Re

San Mateo Union High School District

Created : June 29, 2012 at 09:37 AM

Me e ting: R e gular Me e ting : Q . DIVISIO N O F BUSINESS SER VIC ES

4. Approval to Proceed with Issuing a Request for Proposal for Real Estate Asset Management and Brokerage Services Related to Identifying Potential Real Property Sites for Acquisition and Development (D) (V)
June 28, 2012 Status: Discussion Ite m

Quick Summary / Abstract The San Mateo Union High School District would like to request proposals from real estate asset management and brokerage firms who are licensed real estate brokers to assist with the identification and potential acquisition of new land sites. The District is interested in identifying potential new sites within the jurisdictional boundary of the District. The District has not, at this time, made any decisions concerning the acquisition of new sites, but is interested in exploring and identifying potential sites and the feasibility of developing such potential new sites. It is the intent of this RFP to have the successful firm enter into a Professional Services Contract with the District to provide real estate asset management and brokerage services as outlined herein. The District is interested in selecting a firm that can provide a full range of asset management services, including real estate brokerage services as needed, with expertise representing public sector clients, including public school districts. Familiarity with the rules and regulations of the California Department of Education related to site acquisition is essential. The skill set requirements for real property consultants working for a public school district differ significantly from the skill set requirements for consultants working for a private commercial party. A public school district is governed by numerous laws and regulations related to site selection and development that do not apply to a private commercial entity. Many of these laws and regulations are issued by the California Department of Education, Department of Toxic Substance Control and their sub-departments. Real property consultants for a public school district must be able to address a variety of issues related to the identification, selection and development of real property. The consultants must also be able to conduct feasibility studies and demographic analyses while working closely with local agencies, property owners and the commercial real estate community in order to identify potential properties that best meet the needs of the public school district. Staff believes it is in the best interest of the District to hire a single firm to provide the real estate asset management and brokerage services necessary for identifying, selecting and developing potential real property sites. There is greater efficiency in working with one firm that is answerable to the District rather than a team of consultants. The asset management firm would also be able to assist with conducting feasibility studies, due diligence review, demographic analysis and ensuring a single consistent message is provided to local agencies, property owners and the community. The asset management firm would be compensated through a blend of hourly rate services and real estate commissions if the District were to acquire a site. It is customary for the seller to pay any such commissions and the proposed RFP outlines the fee structure. Upon selection of the real estate asset management and brokerage firm, one of the first
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San Mateo Union High School District : Approval to Proceed with Issuing a Request for Proposal for Re

tasks will be to provide the firm with information regarding the Districts site needs and request the firm develop an approved comprehensive action plan for identifying potential sites.

Recommendation Approve issuing a Request for Proposal for Real Estate Asset Management and Brokerage Services and direct staff to take necessary action to select and direct the selected Asset Management firm.

Contacts Elizabeth McManus Scott Laurence

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