Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Louise F. Rogers, Chief, San Mateo County Health
Lisa Mancini, Director, Aging and Adult Services
Subject: Agreement with Dumas Properties, Inc., California Realty Investment Company, Sentinel Realty Company, Vanguard Properties, Inc., Property Management Systems and Professional Real Estate Brokerage for Real Estate Sales Services
RECOMMENDATION:
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Adopt a resolution authorizing agreements with Dumas Properties, Inc., California Realty Investment Company, Sentinel Realty Company, Vanguard Properties, Inc., Property Management Systems, and Professional Real Estate Brokerage to provide real estate sales services for conserved clients of the Public Guardian and decedent estates of the Public Administrator, for the term July 1, 2020 through June 30, 2023, in an amount not to exceed $1,800,000 in aggregate.
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BACKGROUND:
Aging and Adult Services (AAS) operates the Public Guardian (PG) program, which acts under the authority of the Superior Court to manage the estates of conserved individuals who are deemed by the court to be unable to care for themselves. AAS also operates the Public Administrator (PA) program, which is regularly appointed by the Superior Court to administer the estates of deceased County residents when there is no one available to take on this responsibility.
Both the PG and PA regularly handle cases requiring the sale of real property in order to fund a conservatee’s care or liquidate estate assets.
Most recently in 2017, six applicants were selected to provide real estate sales services through a Request for Proposal (RFP) process conducted by AAS. The contract term was July 1, 2017 through June 30, 2020. During that period, there were nine transactions with an aggregate sale price of $9,205,000. The average sales price was 102% of the fair market value of the properties sold.
DISCUSSION:
In March 2020, AAS released an RFP for sale of real property services and eight applicants applied. An RFP Evaluation Committee reviewed the proposal and recommended Dumas Properties, Inc. (Maxine Dumas), California Realty Investment Company (Steven M. Karp), Sentinel Realty Company (Leo Chaudoir), Vanguard Properties, Inc. (Mary Liu & James S. Wong), Property Management Systems (Mark A. Benson), and Professional Real Estate Brokerage (Robert C. Stuart) be awarded contracts based on their qualifications and experience.
The agreement and resolution have been reviewed and approved by County Counsel as to form.
The resolution contains the County’s standard provisions allowing amendment of the County fiscal obligations by a maximum of $25,000 (in aggregate).
It is anticipated that the average sale price as a percentage of fair market value of the properties sold will be 100%.
PERFORMANCE MEASURE:
|
Measure |
FY 2020-21 Actual |
FY 2021-22 Projected |
|
Average sale price as a percentage of fair market value of the properties sold |
102% |
100% |
FISCAL IMPACT:
The term of these agreements is July 1, 2020, through June 30, 2023. The aggregate amount of the agreements is $1,800,000 for the three-year term. Funds for services will be disbursed from real property sales proceeds through an escrow holder. County will not be liable for disbursement of funds. There is No Net County Cost associated with this agreement.
ATTACHMENT:
RFP Matrix