Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Professional Services Contract
Purpose: To provide real estate title search services
Entity Name: Two Rivers Title Company, LLC
Entity Address: 26 Ayers Lane, Suite 202, Little Silver, New Jersey 07739
Contract Amount: Not to exceed $75,000.00
Funding Source: 2018 Budget/Department of Economic and Housing Development
Contract Period: One (1) year from a Notice to Proceed
Contract Basis: ( ) Bid ( ) State Vendor (X) Prof. Ser. ( ) EUS
(X) Fair & Open (X ) No Reportable Contributions ( ) RFP (X) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
Two (2) proposals received
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WHEREAS, the City of Newark, Department of Economic and Housing Development ("City") has determined that there is a need for professional services contracts for the Real Estate Title Search Services; and
WHEREAS, Real Estate Title Search 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 Title Search Services on or about March 7, 2018; and
WHEREAS, three (3) proposals were picked up and the City received a total of two (2) proposals in response to its RFQ for Real Estate Title Search Services; and
WHEREAS, Two Rivers Title Company, LLC, 26 Ayers Lane, Suite 202, Little Silver, New Jersey 07739 ("Two Rivers"), 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 Title Search Services; and
WHEREAS, the City wishes to enter into a new contract with Two Rivers, to provi...
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