On-Call Real Estate Consultant

Background

The Regional Transit Authority (RTA) is seeking a vendor to provide on-call real estate consulting and professional services as part of its mission to enhance mobility, foster economic growth, and create sustainable Transit-Oriented Communities (TOC) in the Greater New Orleans area. The selected firm will assist RTA in optimizing the value of its real estate assets and facilitating strategic development opportunities.

Work Details

The scope of services includes: 1. Real Estate Appraisals: Conduct comprehensive market appraisals for RTA-owned and third-party properties, adhering to industry standards. 2. Lease & Purchase Negotiations: Represent RTA in negotiating lease and purchase agreements to optimize transaction values. 3. Commercial Brokerage Services: Facilitate sales, leasing, or acquisitions of commercial properties on behalf of RTA. 4. Feasibility Reports: Develop reports evaluating redevelopment potential of RTA properties. 5. Real Estate Pro Forma Analysis: Assess financial feasibility of real estate development concepts through detailed financial modeling. 6. Development of Solicitations: Draft Requests for Proposals (RFPs) for development projects on RTA properties. 7. Market Analysis: Conduct analyses to understand current market conditions and trends affecting RTA's real estate decisions. 8. Analysis of Financial Incentives: Identify and leverage incentive programs for development projects. 9. Obtaining FTA Concurrence: Support RTA in obtaining necessary approvals from the Federal Transit Administration for property acquisitions.

Period of Performance

The contract will have an initial term of three years with two additional one-year renewal options, totaling a maximum duration of five years.

Place of Performance

Services will be performed primarily within the Greater New Orleans area, specifically related to RTA's real estate holdings and associated projects.

Bidder Requirements

No specific set-aside certifications are required as there are no subcontracting opportunities on this project; however, bidders must comply with federal, state, and local regulations regarding Disadvantaged Business Enterprises (DBEs).