Title
Auctioneering Services - ADSPO17-174072 - Amendment (Ordinance S-49937)
Description
Request to authorize the City Manager, or his designee, to execute amendment to Contract 148111 with Sierra Auction Management, Inc., to extend contract term. Further request to authorize the City Controller to accept and disburse all funds related to this item. No funds are needed for this revenue generating contract, request to continue using Ordinance S-44835.
Report
Summary
This contract will provide auction services required by Administrative Regulation 5.13, to protect the City's investments in fixed, sensitive, and low-value property. Fleet vehicles, obsolete computers, office furniture, appliances, lawn equipment, confiscated and unclaimed property are among the types of products auctioned. Sierra Auction Management, Inc., collects auction proceeds and remits the proceeds to the City.
This contract is paid through proceeds received from the sale of the City's property and revenue is deposited to the City's General and Enterprise Fund accounts.
Contract Term
Upon approval the contract will be extended through Aug. 31, 2024.
Financial Impact
The aggregate value of revenue generated through this contract for the City of Phoenix is approximately $15,481,330.
Concurrence/Previous Council Action
The City Council previously reviewed this request:
• Auctioneering Services - Contract 148111 (Ordinance S-44835) on June 27, 2018;
Department
Responsible Department
This item is submitted by City Manager Jeffrey Barton and the Finance Department.