JOINT CITY COUNCIL AND REDEVELOPMENT AGENCY BOARD AGENDA ITEM: Approval of a Fourth Amendment to the Existing Professional Services Agreement with Lea Associates Inc. for Real Estate Appraisal Services. City of Culver City California Agenda Item Report Meeting Date: 08/22/11 JOINT CITY COUNCIL AND REDEVELOPMENT AGENCY BOARD AGENDA ITEM: Approval of a Fourth Amendment to the Existing Professional Services Agreement with Lea Associates Inc. for Real Estate Appraisal Services. Contact Person/Dept.: Glenn Heald Todd Tipton Community Development Fiscal Impact: Yes No X Phone Number: 310 253 5752 310 253 5783 General Fund: Yes No X Item Number: JC 1 Public Hearing: Action Item: X Attachments: Commission Action Required: Yes No X Date: _______________ Public Notification: (Email) Lea Associates (08/03/11); (Email) Meetings and Agendas Redevelopment Agency (08/1711). Department Approval: Sol Blumenfeld: (08/09/11) City Attorney Approval: Carol Schwab: Agency General Counsel Approval: Murray Kane: (08/10/11) City Manager/Executive Director Approval: John M. Nachbar (08/17/11) Chief Financial Officer Approval: Jeff Muir (08/16/11) RECOMMENDATION: Staff recommends the City Council and the Culver City Redevelopment Agency Board (Agency Board) approve a fourth amendment to the existing professional services agreement with Lea Associates Inc. for real estate appraisal services. BACKGROUND: On October 1 2001 the Agency executed a contract with Lea Associates Inc. for real estate appraisal services on an as needed basis. Three subsequent amendments extended Staff now recommends the City Council and Agency Board approve a fourth amendment to extend the agreement through June 30 2013. DISCUSSION: Property appraisals are required under the California Government Code and the Health and Safety Code for certain real estate transactions involving the City and/or the Agency Appraisals may contain limited or complete information about a subject site including the value of real property the ...
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