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.