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CC:SA - CONSENT ITEM: (1) Waiver of Competitive Bidding Procedures Pursuant to Culver City Municipal Code Section 3.07.075.F.3; and (2) Approval of a Five-Year Professional Services Agreement with HdL Coren & Cone for Property Tax Management Services, Property Tax Information and Audit Services, Measure RE Real Estate Property Transfer Tax Audit Services, and On-Call Consultation Services.
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Meeting Date: July 10, 2023
Contact Person/Dept: Lisa Soghor/Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Attachments: Yes [ ] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (07/06/2023)
Department Approval: Lisa Soghor, Chief Financial Officer (07/06/2023)
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RECOMMENDATION
Staff recommends the City Council and Successor Agency (1) waive competitive bidding procedures pursuant to Culver City Municipal Code Section (CCMC) 3.07.075.F.3; and (2) approve a five-year professional services agreement with HdL Coren & Coen LLC (HCC) for property tax management services, property tax information and audit services, Measure RE real estate property transfer tax audit services, and on-call consultation services.
BACKGROUND
The City and the Successor Agency receive their portion of property tax revenue generated from parcels within the City limits from the Los Angeles County Assessor's Office. The City and the Successor Agency have historically contracted with HCC to perform various property tax management and property tax information and audit services. As part of this work HCC provides regular reports on property values, taxes, construction activity and transfers, analyzes trends and develops revenue projections.
In November 2020, Culver City residents voted to approve Measure RE establishing a marginal tax rate for the City's real estate transfer tax with four brackets, based ...
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