Title
Dept/ Agency: Finance
Action: (X ) Ratifying (X) Authorizing (X ) Amending
Type of Service: Professional Service Contract
Purpose: To extend the period of the contract to complete the revaluation of all real property located in the City of Newark, New Jersey
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 1, 2013 through April 30, 2013
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:
Resolution #7R5-A 060210, authorized contract for City-wide revaluation
Resolution #7R5-D 110410, amended contract to include State recommendations
Resolution #7R5-B 090612, first amended contract extending the contract period through December 31, 2012
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, as the only responsible and lowest bidder in accordance with Request for Proposals Specifications, 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; and
WHEREAS, the contract was submitted to the New Jersey Department of the Treasury for their review of the contract and they had comments; and
WHEREAS, on November 4, 2010 pursuant to Resolution No. 7R5-D, the City of Newark amended the contract granted to Appraisal Systems, Inc. to include the amendments recommended by the New Jersey Department of the Treasury; and
WHEREAS, Section 1 of the Financial Agreement provides in part that: “[t]h...
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