title
Authorization to enter into agreements for Professional Property Management Services.
presenter
Presenter: Leonard Langston, Jr., Interim Chief Property Officer
Recommendation
The Chief Executive Officer ("CEO") of the Chicago Housing Authority ("CHA") recommends that the CHA Board of Commissioners ("Board") approve the award of contracts to the below listed contractors in the aggregate not-to-exceed amount of $50,000,000.00 consisting of a contract value of $29,000,000.00 for a 3-year base term with two (2) 1-year option terms, in the combined amount of $21,000,000.00, to provide professional property management services to various CHA properties.
The Board further authorizes the CEO to approve each request to exercise the options awarded under the contract and re-allocate contract values amongst awardees, as necessary. Each option term shall only be exercised individually and at the time of the expiration of the prior contract term.
The Board also delegates authority to the CEO or his designee to assign or reassign property management contractors as required by CHA.
Recommended Awardees
Five T Management Service Provider Inc
East Lake Management Group Inc
Full Circle Realty & Property
Gilead Management LLC
Hispanic Housing Development Corporation
HR Legacy Commercial LLC
Universal Management Services Inc
Winn Managed Properties LLC
Aggregate Total: $50,000,000.00
The requested action complies in all material respects with all applicable federal, state, and local laws, and CHA policies. CHA staff has completed all necessary due diligence to support the submission of this initiative.
Funding
MTW Funds
Background
CHA solicited proposals from professional property management firms to oversee and manage various aspects of CHA residential properties including, but not limited to, occupancy/leasing, resident file management, resident relations, regularly scheduled resident re-examinations, lease enforcement, rent collection, evictions, building opera...
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