Laserfiche WebLink
Real Estate Title and Escrow Services <br />March 2, 2021 <br />Page 2 <br />opened after the proposal evaluations were completed. The ranking of the firms is as <br />follows: <br />Firm <br />City <br />Rank <br />Commonwealth Land Title Company <br />Newport Beach <br />1 <br />Fidelity National Title <br />Newport Beach <br />2 <br />Chicago Title Company <br />Irvine <br />3 <br />The proposals by Commonwealth Land Title Company, Fidelity National Title, and <br />Chicago Title Company demonstrate the firms have the necessary labor capacity to <br />complete the requested services to meet expedited grant -driven deadlines. The firms' <br />rates are reasonable and within industry standard, the team qualifications are appropriate <br />for this project, and the proposals were found to provide the best value for the City. Staff <br />recommends awarding agreements to Commonwealth Land Title Company, Fidelity <br />National Title, and Chicago Title Company (Exhibits 1 through 3) to provide on -call real <br />estate title and escrow services based upon the scope of work and selection criteria <br />outlined in RFP 20-123 (Exhibit 4). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />There is no fiscal impact at this time. Prior to utilizing any of these on -call services, Public <br />Works Agency staff must receive Finance and Management Services Agency approval <br />of funding and accounts to be used to ensure funds are available under the authorization <br />and shared aggregate limit of $300,000. Upon successful completion of the fiscal review, <br />a corresponding Notice to Proceed containing the specific scope and maximum <br />expenditure for the task order will be issued. <br />EXHIBIT(S) <br />1. Commonwealth Land Title Company Agreement <br />2. Fidelity National Title Agreement <br />3. Chicago Title Company Agreement <br />4. RFP 20-112 <br />Submitted By: Nabil Saba, Executive Director, Public Works <br />Approved By: Kristine Ridge, City Manager <br />