Committee forwards extension and revenue increase for citywide auction services contract

The Budget and Finance Committee voted to forward to the Board a resolution authorizing a third amendment to the as‑needed auction services contract with Bar None Auction to extend the contract one year and increase anticipated revenue.

Will Alderman, procurement manager with the Office of Contract Administration, said the contract is an as‑needed agreement for surplus asset auctions, with no guaranteed payment to the contractor; the contractor is paid by buyer premiums and the city pays 0% of sale proceeds. Alderman said anticipated revenue is about $2,990,000 over five years and that revenue is expected to increase by about $800,000 in the current year.

There were no public speakers. Chair Chan moved the item to the full Board with a positive recommendation; Vice Chair Mandelmann and Chair Chan voted 'aye' and the motion passed.

The item will proceed to the Board for final approval.