Washington Metropolitan Area Transit Authority
AMENDMENT TO INVITATION FOR BIDS #15-02
PROPERTY FOR SALE – 600 NORTH ROYAL STREET
June 4, 2015
Please find below answers to requests for clarification that have been received regarding the 600 North Royal Street Invitation for Bids issued May 12, 2015.
Any further requests for clarification must be submitted no later than June 24,
2015, 3pm Eastern to realestate@wmata.com.
QUESTION 1
Q. Can you further articulate or confirm how the Escrow works (Section B.3)?
WMATA notes that it will escrow an amount, in its sole discretion, and as a cap on its contribution, to pay for costs incurred by the purchaser in connection with the incremental costs of remediating site contamination, based on reports that the purchaser produces during the Due Diligence Period. WMATA estimates that it is $1M over and above the normal and that WMATA assumes only one level of subgrade development. It is assumed that this includes foundation and footer excavations for that one level. It is assumed that up to the full escrow can be accessed so long as it is agreed to be “above the normal” and that WMATA will escrow $1M. How is the Escrow timed…disbursed at the time of settlement based on the reports in hand or after excavation has actually occurred?
A. WMATA will escrow its estimate of the incremental cost of site remediation;
WMATA’s current estimate is $1 million. WMATA’s estimate assumes excavation to a depth of 12 feet. WMATA reserves the right to adjust its estimate based upon its review of the results from tests performed during the Due
Diligence Period. The Successful Bidder will have an opportunity to perform its own tests on the site during the Due Diligence Period, and to present these findings to WMATA. The escrowed funds will be disbursed on a periodic basis to reimburse the Successful Bidder for the incremental costs of site remediation upon WMATA’s review and approval of appropriate documentation of the costs.
A draft escrow agreement and instructions will be provided to the Successful
Bidder at the time of selection.
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QUESTION 2
Q. Is there a Purchase and Sale Agreement that should be reviewed beyond just the Bid Form?
A. Please refer to Section B.19 of the Invitation for Bids. There is no Purchase and Sale Agreement beyond the Bid Form. In addition to the deed, WMATA will execute the escrow documents cited above, at settlement.
QUESTION 3
Q. How can we review the environmental documentation?
A. This documentation has been posted to the solicitation website as a ZIP file titled “Exhibit 1A - Environmental Documentation”
QUESTION 4
Q. Do you have information that might be helpful in our estimating demolition costs for the building?
A. A September 1974 set of architectural plans for renovation of the building and seven reports on potential asbestos-containing materials identified in the building. WMATA has removed the majority of the asbestos-containing pipe insulation and some small areas of asbestos-containing floor tile within the building. The developer should anticipate that removal of asbestos-containing materials will required prior to building demolition.
This information has been posted to the solicitation website as “Exhibit 1B -
Re novation Drawings “ and “Exhibit 1C – Potential Asbestos Containing
M aterials”
QUESTION 5
Q. Please confirm that WMATA intends a fee-simple conveyance of the property and not a ground lease.
A. Confirmed
– the 600 North Royal Street property will be sold and conveyed fee simple.
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