200 S. Anaheim Blvd.
Suite #733
Anaheim, CA 92805
Tel: (714) 765-4544
Fax: (714) 765-5164
www.anaheim.net
CITY COUNCIL AGENDA REPORT
City of Anaheim
ECONOMIC DEVELOPMENT DEPARTMENT
DATE: SEPTEMBER 29, 2026
FROM: ECONOMIC DEVELOPMENT DEPARTMENT
SUBJECT: PROFESSIONAL SERVICES AGREEMENT WITH KEYSER
MARSTON ASSOCIATES, INC. FOR FINANCIAL CONSULTING
SERVICES
ATTACHMENT (Y/N): YES ITEM # 07
GOVERNMENT CODE § 84308 APPLIES: NO
RECOMMENDATION:
1. Approve a Professional Services Agreement with Keyser Marston Associates, Inc., in substantial form, for on-call financial consulting services, in an amount not to exceed $500,000, for an initial three-year term beginning September 29, 2026, with one, two-year renewal option;
2. Authorize and direct the Director of Economic Development, or his designee, to execute the Agreement and take any and all actions as are necessary to implement and administer the Agreement; and,
3. Authorize de minimis changes that do not substantially change the terms and conditions of the Agreement, so long as such changes are determined to be de minimis by the City Attorney’s Office.
BACKGROUND:
The City undertakes a range of real estate and economic development initiatives intended to facilitate investment, support development and redevelopment, and advance projects that provide long-term fiscal and community benefits. These efforts may involve financial analysis, the evaluation of proposed development projects, negotiation of agreements and real estate transactions, disposition of City-owned property, and consideration of requests for public participation or financial assistance.
Because these activities often involve complex financial, market, legal, and real estate considerations, cities rely on the expertise of specialized consultants to evaluate project feasibility, assess fiscal and economic impacts, analyze property values and market conditions, and provide technical and strategic guidance during negotiations. This support helps ensure proposed transactions are financially sound, appropriately structured, and consistent with the City’s economic development objectives while protecting the City’s financial interests and meeting statutory requirements.
Professional Services Agreement with Keyser Marston Associates, Inc. for Financial Consulting Services September 29, 2026
For over three decades, Keyser Marston Associates, Inc. (KMA) has provided the City with specialized real estate and economic development consulting services. KMA’s work has included financial feasibility and economic analyses of proposed development projects, evaluations of land values, fiscal impact and public revenue projections, market demand and land use analyses, and preparation of reports required under Government Code Section 52201 in connection with the disposition of City-owned property and creation of economic opportunity. KMA has also assisted the City in evaluating and negotiating development agreements, conducting peer reviews of developer-provided financial and market analyses, and assessing the fiscal and economic impacts of alternative development scenarios.
DISCUSSION:
On August 10, 2026, the Economic Development Department (Department) issued a RFP for asneeded real estate, economic, and financial advisory services.
A total of three (3) firms submitted proposals, which were evaluated by a review panel comprised of Department staff. Proposals were evaluated using the criteria established in the RFP, including the firms’ qualifications, experience, and technical expertise. The review panel also considered the qualifications of proposed staff, the breadth of services offered, and the proposed fee schedules.
Following the competitive evaluation process, staff recommends entering into an agreement with Keyser Marston Associates, Inc. to provide on-call, financial consulting services. KMA was identified as the most qualified firm based on its demonstrated expertise in economic, financial, demographic, real estate, and public finance analytical and advisory services.
In addition to its technical expertise, KMA has extensive experience advising California cities and counties. KMA has served as a financial advisor to the City, Housing Authority, and Successor Agency for the past three decades, giving it familiarity with the Department’s programs, financing objectives, and development priorities. This institutional knowledge, specialized expertise, and successful prior work experience will enable KMA to provide efficient and informed financial analysis and advisory services with minimal onboarding.
The Agreement will become effective upon execution and remain in effect through September 28, 2029, with the option for one additional two-year extension. The Agreement authorizes compensation in an amount not to exceed $500,000 over the term.
IMPACT ON BUDGET:
Sufficient funds are available in the Economic Development Department’s Fiscal Year 2026-27 budget.
Professional Services Agreement with Keyser Marston Associates, Inc. for Financial Consulting Services September 29, 2026
Respectfully submitted,
Sergio M. Ramirez
Director of Economic Development
Attachment:
1. Professional Services Agreement – Keyser Marston Associates, Inc.