Title
Title and Escrow Services for Public Transit Projects - Request for Award (Ordinance S-50918)
Description
Request to authorize the City Manager, or his designee, to enter into contracts with Commonwealth Land Title Insurance Company; Pioneer Title Agency, Inc.; and Security Title Agency, Inc. using a competitively procured Maricopa County Cooperative Purchasing Contract (200161-RFP), to provide escrow and title services to the Public Transit Department on an as-needed basis. Further request to authorize the City Controller to disburse all funds related to this item. The maximum combined aggregate value for these contracts is $177,824.
Report
Summary
These contracts will provide title and escrow services on an as-needed basis by the Finance Department, Real Estate Division, for Public Transit projects. Contracts with these providers will include terms, conditions, and certifications required by the Federal Transit Administration (FTA) for projects receiving federal funding.
Procurement Information
In accordance with Administrative Regulation 3.10, standard competition was waived as a result of an approved Determination Memo based on the following reason: Special Circumstances Alternative Competition. The Maricopa County Cooperative Purchasing Contracts for escrow and title services were awarded using a competitive process consistent with the City's procurement processes set forth in the Phoenix City Code, Chapter 43.
Contract Term
The term of the contract will begin on or about June 1, 2024 and extend through June 30, 2026.
Financial Impact
The combined aggregate value for these contracts is $177,824. Funding is available in the Public Transit Department's budget.
Department
Responsible Department
This item is submitted by Deputy City Manager Mario Paniagua and the Public Transit Department.