Approval of an Amendment to an Existing Professional Services Agreement with Kosmont & Associates Inc. to Provide Real Estate Economic Development and Financial Analysis Assistance Related to Dissolution of the Former Culver City Redevelopment Agency. City of Culver City California Agenda Item Report Meeting Date: 04/21/2014 CITY COUNCIL AGENDA ITEM: Approval of an Amendment to an Existing Professional Services Agreement with Kosmont & Associates Inc. to Provide Real Estate Economic Development and Financial Analysis Assistance Related to Dissolution of the Former Culver City Redevelopment Agency. Contact Person / Department: Joe Susca/CDD Todd Tipton/ CDD Fiscal Impact: Yes X No Public Hearing: Commission Action Required: Yes No X Date: _______________ Public Notification (E Mail) Meetings and Agendas City Council (04/16/14); Kosmont & Associates Inc. (04/15/14). Department Approval: Sol Blumenfeld (04/15/14) Chief Financial Officer Approval: Jeff Muir (by M. Noller) (04/16/14) Phone Number: (310) 253 5763 (310) 253 5783 General Fund: Yes X No Attachments: City Attorney Approval: Carol Schwab (by H. Baker) (04/16/14) City Manager Approval: John M. Nachbar (04/16/14) Action Item: Item Number: C 2 RECOMMENDATION: Staff recommends the City Council approve an amendment to the existing professional services agreement with Kosmont & Associates Inc. increasing the not to exceed amount by $15 050 (from $29 950 to $45 000) for assistance related to dissolution of the former Culver City Redevelopment Agency (former CCRA). BACKGROUND: Kosmont & Associates Inc. (Kosmont) is a nationally recognized real estate financial advisory and economic development services firm that specializes in serving the needs of landowners and non profit organizations in California. On May 2 2013 the City administratively entered into a contract with Kosmont to refine and facilitate presentation of various Successor Agency dissolution documents to the State Department of Finance (DOF) including the ...
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