Dept/ Agency: Administration/Division of Central Purchasing Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Competitive Contracting, pursuant to State and Local Public Contracts Law, N.J.S.A. 40A:11-4.1(p), the competitive contracting process may be used for reassessment or revaluation services Purpose: To provide revaluation of all real property in the City of Newark. Entity Name(s)/Address(s): Appraisal Systems, Inc., 264 South Street, Building 2, Suite 1B, Morristown, New Jersey 07960 Contract Amount: Not to exceed $6,070,000.00 Funding Source: 2024 Budget/Department of Finance, Division of Assessment/NW011-050-0510-71280-B2024 Contract Period: To be established for a period not exceed twenty-four (24) consecutive months upon Municipal Council approval Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions (X) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a Additional Information: To provide revaluation of all real property in the City of Newark. Advertisement: February 27, 2024 Bids Downloaded: Twelve (12) Bids Received: Two (2)