Finance Committee - 08/05/2020 Page 3
Could you state whether why you are not present and if you can hear and if you are alone.
Alderwoman Lu
Yes, thank you. | can hear you, | am here alone and | am practicing social distancing.
Alderman Harriott-Gathright
And also if | can make a notation that Alderman Tom Lopez has joined us as well.
PUBLIC COMMENT - None
COMMUNICATIONS
From: Tim Cummings, Economic Development Director
Re: | A Contract for NAI Norwood to assist as necessary on a case by case basis with the advisory and
procurement/disposition of commercial real estate
MOTION BY ALDERMAN HARRIOTT-GATHRIGHT TO ACCEPT, PLACE ON FILE, AND AWARD THE
PROFESSIONAL SERVICES CONTRACT FOR VARIOUS COMMERCIAL REAL ESTATE NEEDS TO NAI
NORWOOD, BY ROLL CALL
ON THE QUESTION
Mayor Donchess
Now Mr. Cummings, could you please address this?
Tim Cummings, Director of Economic Development
Yes, thank you Mr. Mayor and through you to the Committee; for the record Tim Cummings, Director of
Economic Development. What is before you this evening is a contract to retain brokerage and marketing
services from a commercial real estate firm. This has been something that I’ve been looking to do for a while
now. We have put an RFP out back in 2019. We had three groups respond, the small internal group of City
Hall Officials, the Corporation Counsel, the Administrative Services Director and myself met with two of the
three groups. Ultimately we settled on NAI Norwood to represent this in this multi-year contract for, also some
ad hoc advisory services as needed as well. They were the lowest proponents as well when they submitted
with relative to their commissions.
Mayor Donchess
Does anybody have any questions for Mr. Cummings? Alderwoman Lu.
Alderwoman Lu
Thank you Mayor Donchess. | just, could you clarify, did you say they will be doing, what is the agreement?
Sorry, why is that they are not working as an ordinary real estate broker with commission if sold?
Director Cummings
They are, that’s exactly what the contract says.
Alderwoman Lu
