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CC:HA - (1) Waiver of Formal Competitive Bidding Procedures; and (2) Approval of a Professional Services Agreement with Keyser Marston Associates, Inc. for Financial Consulting Services on an As-Needed Basis.
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Meeting Date: July 9, 2018
Contact Person/Dept: Todd Tipton / Community Development
Tevis Barnes / Community Development
Phone Number: 310-253-5783
310-253-5782
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Public Hearing: [] Action Item: [] Attachments: [X]
Commission Action Required: Yes [] No [X] Date:
Public Notification: (E-Mail) Meetings and Agendas - City Council (07/03/18);
Department Approval: Sol Blumenfeld, Community Development Director (06/29/18)
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RECOMMENDATION
Staff recommends the City Council and the Culver City Housing Authority (Housing Authority) Board (1) waive formal competitive bidding procedures; and (2) approve a professional services agreement with Keyser Marston Associates, Inc. (KMA) for financial consulting services on an as-needed basis.
BACKGROUND
KMA has provided financial consulting services to the City and former Culver City Redevelopment Agency (CCRA) since 1981; and, more recently, to the Successor Agency to the CCRA (Successor Agency), Housing Authority and Culver City Parking Authority. Since 1981 KMA's agreements have been amended numerous times. The recent agreements with the City and the Housing Authority both expired in early 2018.
KMA's services include, but are not limited to:
* Analysis of real estate transactions and negotiations;
* Assistance with real property negotiations;
* Assistance with affordable housing transactions and preparation of required reports (pursuant to Health and Safety Code Section 33433);
* Valuation of community benefits in connection with the City's Mixed Use Development Ordinance; and
* Analysis of affordable housing/...
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