7a supp
Item No.: 7a_supp Meeting Date: February 10, 2015 Real Estate Division Policy Briefing Competitive Offering vs. Direct Negotiation Purpose: To identify when circumstances are present that warrant competitive offering and when they warrant direct negotiation Rationale: Competitive processes generally result in most effective result for the public, however, it Does not recognize pre-existing business relationships Does not permit effective tenant mix to minimize risk Does not yield best result if there is a limited field of interested parties Does not advance broader Port initiatives Job creation Green development Infill development Competitive Process Applicability Exclusions: Leases for terms of 10 years or less Airline signatory lease and operating agreement SLOA Leases with Federal, State, Local government Leases or easements with public utility On-field freight forwarding operations Competitive Process Alternatives Published public offering for RFI, RFQ, RFP, etc. Listing with qualified commercial brokerages Targeted direct marketing to industry specific enterprises Offering published in trade and business journals Direct Negotiation Exceptions Renewal of existing tenant relationship, presuming tenant is in good standing Expansion of existing tenant premises, presuming tenant is in good standing Lease would permit expansion of tenant mix to suit the Port's purposes by broadening the business base either horizontally or vertically Lease would promote an otherwise appropriate public use as determined by current initiatives Direct Negotiation Exceptions An unsolicited opportunity that advances a public use as determined by current initiatives Permits effective use of property otherwise encumbered by physical, legal, or environmental hurdles that makes it otherwise of limited utility Subsequent to an unsuccessful competitive process, a targeted opportunity presents itself Direct Negotiation Protocol To commence a direct negotiation, the following conditions/constraints attach: Staff will advise the CEO that a specific negotiation falls under one of the exceptions for approval If approved, staff will commence negotiations on an exploratory basis to confirm the merits of the exception Upon commencement of formal negotiations, staff will advise the CEO, who will, in turn, advise the commission Other appropriate due diligence/financial analysis/approval protocol applies Questions
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