Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Professional Services Contract
Purpose: To provide Real Estate Appraisal Services.
Entity Name: Wade Appraisals, LLC
Entity Address: 460 Main Street, Metuchen, New Jersey 08840
Contract Amount: Not to exceed $20,000.00
Funding Source: 2024 Budget/Department of Economic and Housing Development/NW026, Account #32100, B2024
Contract Period: January 1, 2024 through December 31, 2024
Contract Basis: ( ) Bid ( ) State Vendor (X) Prof. Ser. ( ) EUS
(X) Fair & Open ( ) No Reportable Contributions ( ) RFP (X) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
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WHEREAS, the City of Newark's (the "City"), Department of Economic and Housing Development has determined that there is a need for professional services contracts for Real Estate Appraisal Services; and
WHEREAS, Real Estate Appraisal Services are Professional Services, exempt from the requirement for public bidding, pursuant to the Local Public Contracts Law, N.J.S.A. 40A:11-5(1)(a)(i); and
WHEREAS, the City caused to be published a Notice of Request for Qualifications (RFQ) for Real Estate Appraisal Services on or about October 31, 2023; and
WHEREAS, the City received a total of two (2) proposals in response to its request by the RFQ due date on November 14, 2023; and
WHEREAS, Wade Appraisals, LLC, 460 Main Street, Metuchen, New Jersey 08840, submitted a proposal in response to the RFQ and it was found, based upon price and other factors, to be in the best interest of the City to accept the proposal for the purpose of providing Real Estate Appraisal Services; and
WHEREAS, the City wishes to enter into a contract with Wade Appraisals, LLC, 460 Main Street, Metuchen, New Jersey 08840, to provide Real Estate Appraisal Services in an amount not to exceed Twen...
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