REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Dave Kiff, Interim City Manager
PREPARED BY: Kellee Fritzal, Deputy Director of Economic Development
Subject:
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Approve and authorize execution of a three-year Professional Services Contract with Keyser Marston Associates, Inc. for as-needed Economic Analysis Services; and, increase Office of Business Development Professional Services Listing
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Statement of Issue:
The City requires economic analysis services for various development pro forma and residential projects. Staff is requesting approval of a three-year contract for Keyser Marston Associates, Inc. to perform these services on an as-needed basis.
Financial Impact:
FY 2019/20 budget includes appropriation to cover this year's expenditures. The total contract is not to exceed $270,000, at an estimated $90,000 annually. Appropriations will be requested in subsequent fiscal years.
Recommended Action:
recommendation
A) Approve and authorize the Mayor and City Clerk to execute a "Professional Services Contract Between the City of Huntington Beach and Keyser Marston Associates, Inc. for Economic Analysis Services" in an amount not to exceed $270,000 over a three-year period; and,
B) Increase the Office of Business Development Professional Services Listing by $90,000.
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Alternative Action(s):
Do not authorize the contract and direct staff accordingly.
Analysis:
The Office of Business Development requires a variety of economic analysis services for projects on an as-needed basis. During the term of the contract, the firm Keyser Marston Associations, Inc. could provide technical and financial analysis for such projects as:
* Sales Tax Sharing Agreements
* State Density Bonus Analysis
* State and Federal required monitoring services for restrictive rental properties
* Annual State mandated Housing Compliance Report
* Subside Layering Analysis for HOME assisted projects and financial gap a...
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