From
Bryce Davis, Purchasing Manager
Title
Ratify the CoStar License Agreement for real estate analytics software with CoStar Realty Information, Inc. in the cumulative amount of $82,073.34 (This agreement was for an initial one-year term with successive one-year renewals beginning in September of 2009, and is requested to be ratified for its previous expenditures.)
Presenter
Bryce Davis, Purchasing Manager
Recommended Action
Approve
Analysis
In September of 2009 the previous Economic Development Director entered into a one year agreement with automateic successive one-year renewals for subscription based real estate analytics software specific to Grand Prairie’s commercial, industrial, retail, multi-family, and vacant land properties.
In November of 2013, Addendum 1 to the License Agreement was executed for additional licensing needs as well as gaining access to CoStar’s full software suite.
This requested Council action is to ratify the previous year’s expenditures having surpassed $50,000; any future City requirement for subscription based real estate analytics software will be formally bid out in accordance with all City and State procurement laws.
Contract Term Contract Value
09’-10’ $3,955.00
10’-11’ $4,200.00
11’-12’ $4,200.00
12’-13’ $4,200.00
13’-14’ $4,200.00
Addendum 1 $3,926.66
14’-15’ $9,351.71
15’-16’ $9,351.71
16’-17’ $9,351.71
17’-18’ $9,351.71
18’-19’ $9,772.54
19’-20’ $10,270.00
Contract Total: $82,073.34
Financial Consideration
Funding was budgeted for and provided annually in the IT Infrastructure Services General Fund Operating Budget (151110-63165) until 2016 and then expensed from Economic Development General Fund Operating Budget (121010-61270/60240).