Forest Park DDA votes to begin search for property manager and brokerage firm

The Downtown Development Authority authorized economic development staff to begin vetting property-management and brokerage services after the board learned that the authority’s brokerage manager had resigned and relocated.

Staff said Ivory LeDay, who previously provided brokerage and property management for DDA-owned properties (including the 819 Forest Parkway shopping plaza), has moved and will no longer manage the accounts. The economic development director asked for authority to start a search and said the office can pursue either a formal RFP or an informal process of soliciting quotes; she estimated a 30–60 day timeline to select a candidate and said the goal is to have a vetted firm in place in time for the July 1 budget cycle.

A board member moved to authorize staff to proceed with a search for a property manager and brokerage firm; another board member seconded the motion. The chair called for the vote and the motion carried.

Staff described how the transition will work in the near term: rental payments for city-owned properties will continue to be received by the city office, and maintenance and tenant issues will be routed through the economic development office while staff transfers responsibilities to the incoming manager. Staff also said contractors (plumbers, electricians, roofers, HVAC) are on standby to keep services moving during the transition.

Next step: staff will begin the vetting process (formal or informal, as directed) and return to the board with candidate(s) and contract language for approval.