Share to Facebook Share to Twitter Bookmark and Share
File #: 20-3796    Version: 1 Name: Trepp, LLC, New York, New York
Type: Payment Approval Status: Approved
File created: 8/18/2020 In control: Board of Commissioners
On agenda: 9/24/2020 Final action: 9/24/2020
Title: PROPOSED PAYMENT APPROVAL Department(s): Cook County Assessor's Office Action: Payment Only Payee: Trepp, LLC, New York, New York Good(s) or Service(s): Subscription services Fiscal Impact: $75,600.00 Accounts: 11000.1040.15050.531690.00000.00000 Contract Number(s): 1925-17801 Summary: Request for payment only of year two (2) on a fully executed contract with Trepp, LLC. At this time, the CCAO is not able to create a purchase order release in order to complete the payment due to the contract reaching and exceeding its total current contract authority. The total contract authority was exceeded due to the Board of Review having created purchase order releases against the contract. The amendment to officially include the BOR on the contract is currently being assessed and worked through with the OCPO. In the interim, our invoice for year two (2) must be paid in order to avoid service interruption on extremely crucial data needed by our valuations team. Trepp, LL...
Indexes: FRITZ KAEGI, Cook County Assessor

title

PROPOSED PAYMENT APPROVAL

 

Department(s):  Cook County Assessor’s Office

 

Action:  Payment Only

 

Payee:  Trepp, LLC, New York, New York 

 

Good(s) or Service(s):  Subscription services 

 

Fiscal Impact:  $75,600.00

 

Accounts:  11000.1040.15050.531690.00000.00000

 

Contract Number(s):   1925-17801

 

Summary:  Request for payment only of year two (2) on a fully executed contract with Trepp, LLC. At this time, the CCAO is not able to create a purchase order release in order to complete the payment due to the contract reaching and exceeding its total current contract authority. The total contract authority was exceeded due to the Board of Review having created purchase order releases against the contract. The amendment to officially include the BOR on the contract is currently being assessed and worked through with the OCPO.

 

In the interim, our invoice for year two (2) must be paid in order to avoid service interruption on extremely crucial data needed by our valuations team. Trepp, LLC provides invaluable data on capital markets, commercial mortgage-backed securities, and commercial real estate. With the complex valuations challenges presented by COVID-19, our office must be armed with the highest quality, most up-to-date information on the impacts of the pandemic on real estate.

end