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File #: 25-6179   
Type: Orange County Local Transportation Authority Item Status: Committee Ready - Consent
File created: 3/28/2025 In control: Finance and Administration Committee
On agenda: 5/14/2025 Final action:
Title: Amendment to Agreement for On-Call Commercial Real Estate Brokerage Services
Sponsors: Joe Gallardo, James G. Beil
Attachments: 1. Staff Report, 2. Attachment A, 3. Attachment B

Subject

title

Amendment to Agreement for On-Call Commercial Real Estate Brokerage Services 

overview

Overview

On August 24, 2020, the Orange County Transportation Authority Board of Directors approved an agreement with CBRE, Inc. for on-call commercial real estate brokerage services for leasing and disposing of anticipated excess land owned by the Orange County Transportation Authority. An amendment to the existing agreement is requested for continued on-call commercial real estate brokerage services for an additional six months.

recommendation

Recommendation(s)

Authorize the Chief Executive Officer to negotiate and execute Amendment No. 2 to Agreement No. C-0-2160 between the Orange County Transportation Authority and CBRE, Inc., in the amount of $268,000, for additional on-call commercial real estate brokerage leasing services and extend the term of the agreement for an additional six months through March 31, 2026. This will increase the maximum cumulative obligation of the agreement to a total contract value of $318,000 for leasing services.