HomeMy WebLinkAbout2007-06-26 - AGENDA REPORTS - ROSENOW SPEVACEK CONTR (2)Agenda Item:.'..
CITY OF SANTA CLARITA
REDEVELOPMENT AGENCY
AGENDA REPORT
City Manager Approval: r+
CONSENT CALENDAR Item to be presented by: Chris Price
DATE: June 26, 2007
SUBJECT: AWARD CONTRACT TO ROSENOW SPEVACEK GROUP TO
PROVIDE REAL ESTATE AND FINANCIAL CONSULTING
SERVICES FOR THE REDEVELOPMENT AGENCY
DEPARTMENT: Community Development
RECOMMENDED ACTION
1. Redevelopment Agency approve a contract amendment for an amount not to exceed
$125,000 to Rosenow Spevacek Group to provide real estate and financial consulting
services.
2. Authorize the City Manager,or designee to execute all documents, subject to City Attorney
approval.
BACKGROUND
In February 2006, the Redevelopment Agency released a Request for Proposals (RFP) to identify
a firm to provide various real estate and financial services to assist with implementation of the
Downtown Newhall Specific Plan. Seven firms submitted proposals to the purchasing division
before the published deadline.
Staff narrowed the list to a small group of finalists and three firms presented their qualifications
for consideration. Rosenow Spevacek Group was selected to a one-year contract in the amount
of $49,900 that expires July 31, 2007. At this time, the Redevelopment Agency has exhausted
the current contract funds and staff recommends consideration of a contract amendment in the
amount of $125,000.
This contract amendment would provide for essential real estate and financial services to help
Q�PRO' EU
realize developer driven and Agency identified catalytic projects within the Downtown Newhall
Specific Plan. While the City's in-house acquisition specialist is an important member of the
implementation team, there are a number of specialized RDA functions, reports, and activities
that cannot be carried out by existing staff. Specifically, the Redevelopment Agency has, and will
continue to benefit from expertise in development pro -forma analysis (vital in helping staff
evaluate whether any proposed project will meet the financial goals of the Agency), negotiation
of disposition and development agreements (a very specialized area that staff has not been faced
with previously), and project financing (assisting staff in developing ways to move Agency
assisted projects forward with the least impact on City funds). The Rosenow Spevacek Group
has already provided substantial assistance to the burgeoning City Redevelopment team,
researching new RDA legislation and drafting the City's new SB53 program and the draft
implementation plans currently under consideration. Staff members and the City Attorneys
involved with redevelopment have all reported positive experiences with this consultant and
recommend continuing their involvement with the advancement of the Agency's goals.
ALTERNATIVE ACTIONS
Other action as determined by the Redevelopment Agency.
FISCAL IMPACT
Costs associated with execution of the contract amendment shall not exceed $125,000. Funds
are currently available and have been previously appropriated by the Redevelopment Agency as
part of the FY2007/2008 Annual Budget Process.