Agency Natural Resources Dept

Contractor Herman Real Estate Advisors

SWIFT Contract Number 106467

Project Name Fort Snelling Upper Post Flats Redevelopment

Project Number (if applicable) {Empty}

Summarize purpose of the contract, including why it was necessary: Real estate development consulting for Fort Snelling Upper Post Flats development ($180 million redevelopment project).

Project Duration

Start Date Wed, 03/02/2016 - 00:00

Original end date Fri, 03/10/2017 - 00:00

Actual end date Thu, 09/30/2021 - 00:00

Did project finish on time? No

Total billable hours utilized (if applicable) {Empty}

Contract Amounts

Original contract: $80000.00

Amendments $350000.00

Contract total $430000.00

Did project finish within budget? No

What was the funding source? State Park

Is this a sole source contract? No

If this was a single source contract, explain why the agency determined there was only a single source for the services (if applicable) {Empty}

Evaluator Name Larry Peterson

Evaluator Email Address larry.g.peterson@state.mn.us

Evaluate the contractor's timeliness Project was ongoing real estate development consultation over a five year period. Project was complicated by legislative inaction on necessary tax credit procedures and bond defeasement procedures (2 year delay).

Project was an ongoing 5+ year development of historic buildings at the Fort Snelling Upper Post. Herman Real Estate Advisors always provided timely service and met DNR needs for high-level real estate development consulting services.

Evaluate the contractor's quality Excellent consulting services for negotiation of a 99 year lease that required AG and Executive Council approval. Excellent follow up as project moved into construction phase.

Evaluate the contractor's cost Project required ongoing real estate negotiation consulting and final cost was impossible to estimate at start. Cost was complicated by legislative inaction on necessary tax credit procedures and bond defeasement procedures. All project costs were reimbursed to the DNR by the developer.

Hourly rate is actually on the low end of consulting fees for experienced development attorneys and advisors.

Evaluate the contractor's overall performance Excellent

Would you engage the contractor's services again? Yes

Describe any negative action taken during the duration of this contract (i.e., termination, pursuit of suspension, etc.): {Empty}

Please rate the overall experience with the contractor 5 - very satisfied