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HomeMy WebLinkAboutReso RDA 53-1985 RESOLUTION NO. 53 REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA A RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF AN AGREEMENT FOR FISCAL CONSULTING SERVICES BE IT RESOLVED by the Redevelopment Agency of the City of South San Francisco that: 1. Approval of Agreement. An Agreement entitled "Agreement for Fiscal Consulting Services" by and between th~ Redevelopment Agency of the City of South San Francisco and Katz, Hollis, Coren & Associates, Inc., a California corporation, is hereby approved, and a copy of said Agreement is attached hereto as Exhibit "A." 2. Execution of Agreement. The Chairman is hereby authorized to execute said Agreement on behalf of the Redevelopment Agency of the City of South San Francisco,and the Executive Director attest his signature thereto. I hereby certify that the foregoing Resolution was regularly introduced and adopted by the Redevelopment Agency of the City of South San Francico at a Regular meeting held on the 13th day of March , 1985 by the following vote: AYES: Chairman Richard A. Haffey, Vice Chairman Roberta Cerri Teglia, Member Mark N. Addiego, Member Emanuele N. Damonte, Member Gus Nicolopulos NOES: NONE ABSENT: NONE Chaiman Redevelop~t ~g~ency of the City of South ~h}~ancisco ATTEST: cutive D1 rector Redevelopment Agency of the City of South San Francisco EXHIBIT "A" AGREEMENT FOR FISCAL CONSULTING SERVICES THIS AGREEMENT is entered into this ~'~[~ day of /~)~-]~ ~ h~ of 198~, by and b~twe~n the REDEVELOPMENT AGENCY of the City of SOUT~ S~ F~CISCO (herein~ter referred to as the "Agency') and ~TZ, HOLLIS, COREN & ASSOC~TES, INC., a Ca~ornia ~r~r~tion (hereUnder r~ferred ~ as th~ "Consul~nt".~. WITNESSETH WHEREAS, the Agency is considering the issuance of a tax allocation bond for the Gateway Redevelopment Project (hereinafter referred to as the "Project"); and WHEREAS, the Agency desires to engage the Consultant to render certain, technical advice and assistance to analyze the revenues that would support such an issuance; and -- WHEREAS, the Consultant represents that it is qualified to per- ~ form such services under this Agreement. NOW, THEREFORE, THE PARTIES HERETO DO MUTUALLY AGREE AS FOLLOWS: I.. SCOPE OF SERVICES (BASIC SERVICES) A0 Assessed Value Determination and Sys_tems/Procedures Review The Consultant shah examine and determine the accuracy of the secured assessed values reported for the Project Area by the San Matec County Auditor-Controller for the 1981-82 Project Area Base Year and 1984-85 tax year. The Consultant shall also review the systems and procedures used by the County in the preparation of the Project's 1984- 85 unsecured assessed values and for the alloc~/tion of tax increment revenues. Such reviews shall include an analysis of tax rates, taxable value trends, and tax receipts. B. Tax Increment Projection To assist the Agency in its proposed bond issue, the Consultant shall, within 30 day~ of execution of this Agreement, prepare a ten-year projection (the "P ' ' " rejection ) showing the Lax increment revenues ,,. estimated to be annually allocated to the Agency. The Consultant's Projection shall include estimates of. assessed values of developments identified by the Agency and Project developers as completed or under construction but not yet on the assessment rolls or as proposed and pending, and shall also reflect land acquisition and disposition schedules estimated by the Agency in connection with such .proposed and pending developments. The Consultant's Projection shall take cognizance of and reflect both the provisions of State Law and the affects of local tax assessment and allocation procedures. C. Report of the Fiscal Consultant The Consultant shall prepare a report of tax increment revenues, together with an analysis and examination of recently enacted and pending l~gislation, judicial acts, or constitutional amendment proposals which may effect the flow of tax increment revenues through changes to the assessment or tax levy or administrative procedures. D. Meetings The 'Consultant shall attend at the Agency's request one meeting of the Agency staff, consultants and/or bond 'counsel. II. ADDITIONAL SERVICES Should services be requested by the Agency beyond the scope of Basic Services outlined above, the Consultant, upon Agency authorization, shall confer with and advise the Agency on matters relating to the bonds or to other financial and fiscal management aspects of the Agency's programs. Such Additional Services would include but not be limited to review and comment upon the text of drafts of the Official Statement and the issuance resolution, analysis of bond trust account structure and annual cash flow for a bond issue, representing the Agency in meetings and presentations to the bond rating and bond insurance companies, and attendance at public meetings of the Agency. Additional services shall be provided on a time and materials basis. III. ASSIS~_A..NCE, DATA AND INFO__.RM~__T_ION TO BE FURN..ISHED BY THE AGENCY The Agency shall provide the Consultant with any plans, publications, reports, statistics, records or other data or information pertinent to the services to be performed by the Consul'tant hereunder, to the extent such data or information is reasonably available to the Agency. The Agency shall additionally Provide Consultant appropriate staff assistance and shall take prompt and appropriate action when such will assist in ensuring proper and timely performance of services by the Consultant hereunder.. -2- IV. COMPENSATION AND METHOD OF PAYMENT A. Compensation The Compensation to be paid to the Consultant for the Basic Services provided under Section I shall be the sum of Seven Thousand Five Hundred Dolings ($7,500), excluding out-of-pocket expenses. For Additional Services provided under .Section II, if any, the Agency shall compensate the Consultant in accordance with the following schedule: Principals $95,00 per hour Senior Associates $80.00 per hour Associates $65.00 per hour Senior Analysts $55.00 per hour Analysts $40.00 per hour Secretarial/Administrative ~ $28.00 per hour The Agency shall compensate the Consultant for out-of-pocket expenses incurred by the Consultant in connection with the services performed hereunder in accordance with the following schedule: Incurred Expenses - by an amount equal to actual incurred expenses, Automobile Mileage - at the rate of' $0.20 per. mi]e. Photocopies - at the rate of $0.10 per page for each document copy in excess of five (5) document copies. "Incurred expenses" include,, but are not limited to, authorized travel by common carrier, long distance telephone calls, commercial. reproduction, shipping and messenger services, and other similar expenses. Incurred expenses do not include normal overhead expenses. B. Method of Payment Within fifteen (15) days after submission 'of the Report of the Fiscal Consultant, the Consultant shall submit an invoice to the Agency for the contract amount due plus incurred expenses. Should Additional Services be requested and performed, the Consultant shall submit an invoice for such services and expenses to the Agency within fifteen (15) days after the end of the month in which such services were rendered. All invoices shall be due and payable upon acceptance and approval by the Agency and shall be paid within thirty (30) days of submission to the Agency. The Agency shall not unreasonably withhold its approval. -3- ¥. TERM OF AGREEMENT The term of this Agreement shall run for six (6) months from the date hereof, unless extended in writing by the parties hereto. VI. NOTICES Notices to the parties, unless otherwise requested in writing, shall be sent to the A~ency at City Hall, 400 Grand Avenue, South San Francisco, California 94080, and to the Consultant at §50 South Hill Street, Suite 980, Los Angeles, California 90013-2410. IN WITNESS WHEREOF, the Agency and the Consultant have executed this Agreement as of the date first set forth above. I{EDEVELOPMENT AGENGY OF THE CITY OF SOUTH SAN FRANCISCO KATZ, HOLLIS, COREN & ASSOCIATES, INC. -4-