The Blight Authority of Memphis, Inc. (BAM) is a Local Land Bank, a nonprofit entity that seeks to leverage its powers to restore vacant properties to productive use. It aims to reduce the occurrence of blight and its symptoms—which threaten the security, stability and growth of local neighborhoods—by eliminating barriers to redevelopment and encouraging economic revitalization throughout Memphis.
BAM is seeking real estate firms to provide brokerage and marketing services for BAM-owned residential properties. To that aim, on June 9, BAM issued a request for quotes (RFQ) from interested brokerages.
Contractors will be evaluated and awarded by Memphis 3.0 Neighborhood Districts. The selected contractor will be responsible for selling properties assigned by Memphis 3.0, including current and future-acquired vacant lots and lots containing vacant structures on existing inventory and future properties.
The neighborhood districts include Cordova, Raleigh, Whitehaven, Frayser and more. Companies may submit bids for one or more neighborhood district(s), but please be sure to indicate the neighborhood interest. A comprehensive list of districts, as well as BAM's Acquisition & Disposition Policy and its inventory, is available on the RFQ page.