REDEVELOPMENT AGENCY BOARD AGENDA ITEM: Approval of an Amendment to the Existing Professional Services Agreement with DW Properties for Property Management Services for 4031 Jackson Avenue Culver City for 2009 2010 and 2010 2011 City of Culver City California Agenda Item Report Meeting Date: _08/17/09_ REDEVELOPMENT AGENCY BOARD AGENDA ITEM: Approval of an Amendment to the Existing Professional Services Agreement with DW Properties for Property Management Services for 4031 Jackson Avenue Culver City for 2009 2010 and 2010 2011 Contact Person/Dept.: Fred Deimel Community Development Fiscal Impact: Yes X No General Fund: Yes No X Phone Number: (310) 253 5790 Item Number: _C 5 Public Hearing: Action Item: X Attachments: X Commission Action Required: Yes No X Date: _______________ Public Notification: (E mail) Meeting and Agendas Redevelopment Agency (08/12/09); (Phone) DW Properties (07/27/09). Department Approval: Sol Blumenfeld (08/10/09) Chief Financial Officer Approval: Jeff Muir (by N. Kimball) (08/12/09) Agency General Counsel Approval: Murray Kane (08/09/09) Executive Director Approval: Mark Scott (08/12/09) RECOMMENDATION: Staff recommends the Culver City Redevelopment Agency Board (Board) approve an amendment to the existing professional services agreement with DW Properties in an additional amount not to exceed twenty thousand dollars ($20 000) for 2009 2010 and 2010 2011 for property management services for 4031 Jackson Avenue Culver City (the Property) a nine (9) unit apartment complex owned by the Agency which provides low to moderate income affordable housing. BACKGROUND: The Property was subject to a Disposition and Development Agreement ( DDA ) executed on February 7 1986 which provided for the development of the site and enactment of rent and income restrictions for the residents. The DDA also provided the Agency a first right of refusal option if the property was sold prior to November 24 2010. On January 31 2002 the Agency purchased the Property to p...
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