Authorize contract with CBRE, Inc. for $270,000 to provide property management services for the City-owned condominium unit at Vanport Memorial Building
The City of Portland ordains:
Section 1. The Council finds:
- Ordinance 189077 authorized a development agreement amongst Portland State University (PSU), Oregon Health & Sciences University (OHSU), Portland Community College (PCC) and the City of Portland (COP or City) for the development of a commercial condominium on the property commonly known as “Fourth & Montgomery Property” located at 1810 S.W. Fifth Avenue, Portland, Oregon 97201.
- The Vanport Memorial Building is the resulting constructed condominium. PSU, OHSU, PCC and the City each own one or more units at the condominium, some of them jointly as tenants in common with other owners. The four government entities partner to manage and operate the common elements of Vanport Memorial Building through the established Condominium Association. The City-owned condominium unit at the Vanport Memorial Building is Unit 10.
- Pursuant to the development agreement, PSU was authorized to contract for services on behalf of the Condominium Association and has done so through its public procurement solicitation process for management services. CBRE, Inc. was the selected management entity to provide services that are shared and apportioned to the condominium owners. However, each Owner is obligated to manage its individually owned unit spaces. The Condominium Association’s contract with CBRE, Inc. permits each Owner to utilize the terms negotiated through cooperative procurement
- Using CBRE, Inc. to provide services to the City’s condominium unit would capitalize on the expertise of CBRE, Inc., as a qualified entity with expertise in property management and as the property manager who has working experience with whole of Vanport Memorial Building. In addition, it would provide efficiency in the management of both the City’s individual unit interests and its shared interests in the common elements at the building.
- In accordance with City Code 5.33.220.B.2, this ordinance authorizes a contract in the amount of up to $270,000 to allow for property management services to be performed at the Vanport Memorial Building.
- Term of agreement shall be from the Effective Date through December 31, 2024 with an option to renew, and to be concurrent with the Vanport Building Property Management Agreement.
- The Office of Management and Finance/Facilities Services recommends that Contract no. 30008360 with CBRE, Inc. be approved substantially in conformance with Exhibit “A” for a total contract value not to exceed $270,000.
NOW, THEREFORE, the Council directs:
- The Chief Procurement Officer, or designee, is authorized to execute Contract no. 30008360 with CBRE, Inc., substantially in conformance with Exhibit A attached for a total contract value not to exceed $270,000, upon City Attorney’s Office approval as to form.
- The Mayor and the Auditor are hereby authorized to execute payments to CBRE, Inc. when demand is presented and approved by the proper authorities.
Official Record (Efiles)
An ordinance when passed by the Council shall be signed by the Auditor. It shall be carefully filed and preserved in the custody of the Auditor (City Charter Chapter 2 Article 1 Section 2-122)
Passed by Council
Auditor of the City of Portland
Purpose of Proposed Legislation and Background Information
The Vanport Memorial Building is a new condominium the City owns. PSU, OHSU, PCC and the City each own one or more units at the condominium, some of them jointly as tenants in common with other owners. The four government entities partner to manage and operate the common elements of Vanport Memorial Building through the established Condominium Association.
The City will use CBRE, Inc. to provide services to the City’s condominium unit at the Vanport Memorial Building. This would capitalize on the expertise of CBRE, Inc. and would provide efficiency in the management of both the City’s individual unit interests and its shared interests in the common elements at the building.
Financial and Budgetary Impacts
The cost of this contract has been included in the FY 2023-24 OMF Requested Budget for the Vanport Building. For the current year the cost will be funded out of the downtown office space blended rates program budget.
Community Impacts and Community Involvement
100% Renewable Goal
102 Regular Agenda in February 1-2, 2023 Council Agenda
Passed to second reading
121 Regular Agenda in February 8, 2023 Council Agenda
- Commissioner Carmen Rubio Yea
- Commissioner Dan Ryan Yea
- Commissioner Rene Gonzalez Yea
- Commissioner Mingus Mapps Yea
- Mayor Ted Wheeler Yea