Property Insight LLC
Inspections Done Right!
| Auction 61 - The Reverse Auction Program is planning an auction exclusively for properties of the New York City Housing Authority (NYCHA) beginning Saturday, August 1, 2009 10:00 AM and ending Saturday August 1, 2009, 4:00 PM Eastern time. The period of performance will be one hundred and twenty (120) calendar days starting August 10, 2009 and ending December 8, 2009. The NYCHA inspections will be conducted utilizing a protocol that differs significantly from the current UPCS protocol. These modifications represent one of the few REAC-approved modifications since the development of the UPCS protocol. Accordingly, it is critical for both the seasoned and new inspectors alike to understand the details of the revised protocol prior to bidding. The "Inspection Protocol for Performing NYCHA Physical Inspections" is available on the website. To participate in the bid process for this Auction (61) there are six mandatory requirements that eligible contractors must meet:
If you are not already an eligible contractor, please submit all information by the end of the day, July 26, 2009. |
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Revised Auction 60 - The Reverse Auction Program is planning a Special Auction with a short period of performance for certain public housing properties. The auction is tentatively scheduled for Saturday, July 18, 2009, from 10:00 AM to 4:00 PM Eastern time. The requirement for this auction is that the inspections must be conducted within forty-five (45) calendar days beginning July 27, 2009, and ending September 10, 2009. No extensions will be granted. |
REVERSE AUCTION PROGRAM BUSINESS Rules (Effective May 08, 2006) – Addendum dated - 3/26/2009
The purpose of this addendum is to amend the General Liability Insurance requirements for RAP contractors and inspectors who conduct the inspections.
Current requirement
Under section 1.1 Contractor Eligibility, this addendum replaces the third bullet:
§ Maintain a minimum of $500,000 general liability insurance;
Revised requirement effective 6/1/2009
Under section 1.1 Contractor Eligibility, this addendum replaces the third bullet:
Contractors must meet the following, in addition to the other requirements outlined in the Business Rules.
· RAP contractors must maintain General All Risk Liability Insurance $1,000,000 per occurrence, $2,000,000 aggregate.
· Inspectors who conduct inspections must maintain General All Risk Liability Insurance $1,000,000 per occurrence, $2,000,000 aggregate. Any such insurance certificate must be made availble during inspection.
· Conditionally-certified inspectors are not required to have General All Risk Liability Insurance to conduct training (Phase II) inspections.
· Forward a copy of the Certificate of Liability Insurance to HUD, no later than May 15, 2009 or 30 days prior to the expiration date to:
U.S. Department of Housing and Urban Development
Office of Public and Indian Housing
Real Estate Assessment Center
550 12th Street, SW, Suite 100
Washington, DC 20410
Attn: REAC Reverse Auction program
HUD Press Releases