DATE: October 9, 2018
TO: Board of Supervisors
SUBMITTED BY: Steven E. White, Director
Department of Public Works and Planning
SUBJECT: Agreement for Title Report and Escrow Services for Various Public Works Projects
RECOMMENDED ACTION(S):
TITLE
Approve and authorize the Chairman to execute an Agreement with Fidelity National Title Company for title and escrow services, effective upon execution, not to exceed five consecutive years, which includes a three-year base contract with two optional one-year extensions, total not to exceed $200,000.
REPORT
Approval of the recommended action will authorize Fidelity National Title Company (Fidelity) to provide Litigation Guarantees and Escrow/Title Insurance Services. During the last two years of the term, only updated Litigation Guarantees will be requested and no new services or reports will be allowed. This item is countywide.
ALTERNATIVE ACTION(S):
If the recommended action is not approved, Department of Public Works and Planning staff will be required to obtain Title and Escrow services individually for each project at market rates, leading to higher costs and project delays. The existing Title and Escrow agreement with Fidelity expires on October 13, 2020; however, no new services can be ordered during the last two years of the agreement and new services are now warranted.
FISCAL IMPACT:
There is no increase in Net County Cost associated with the recommended action. The maximum compensation is $200,000 for the term. Fidelity will be compensated at prescribed rates for services. Sufficient appropriations and estimated revenues are included in the Department of Public Works and Planning - Roads Org 4510 FY 2018-19 Adopted Budget. The recommended agreement may be used by other divisions or county departments, if so, Org 4510 will be reimbursed by the user. The actual cost will be based on the number of service orders requested by the users.
DISCUSSION:
Litigation Guarantees, a type of Title Repor...
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