Title
Dept/ Agency: Finance
Action: (X) Ratifying (X ) Authorizing (X ) Amending
Type of Service: Professional Service Contract
Purpose: Amend Resolution to Extend the Period of the Contract to Complete the Revaluation of all Real Property Located in the City of Newark
Entity Name: Appraisal Systems, Inc.
Entity Address: 8 Catano Avenue, Morristown, New Jersey 07960
Contract Amount: $3,996,000.00
Funding Source: City of Newark Budget/Finance Department
Contract Period: January 15, 2012 - December 31, 2012
Contract Basis: ( ) Bid ( ) State Vendor (X ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
No additional funding is required
Resolution 7R5-A 060210, authorized contract for city-wide revaluation.
Resolution 7R5-D 110410, amended contract to include State recommendations
body
WHEREAS, the Municipal Council of the City of Newark on June 2, 2010, pursuant to Resolution No. 7R5-A, authorized the Mayor and/or his designee the Director of Finance to enter into a contract with Appraisal Systems, Inc., 8 Catano Avenue, Morristown, New Jersey 07960, for a total amount not to exceed $3,996,000.00, to provide services for the Revaluation of all Real Property in the City of Newark, as the only responsible and lowest bidder, in accordance with the RFP Specifications; and
WHEREAS, the Resolution and Financial Agreement provide that the term of the contract will be established for a one (1) year term pursuant to N.J.S.A. 40A:11-3(b). The Resolution and Financial Agreement also provide that the contract may be extended for an additional year with Municipal Council approval, with no change in price and with no additional funds to be required; and
WHEREAS, the Contract was submitted to the New Jersey Department of the Treasury for their review of the Contract and they ...
Click here for full text