Camarillo City Council
AGENDA REPORT
Date: August 12, 2026
To: Honorable Mayor and City Councilmembers
From: Greg Ramirez, City Manager
Submitted by: Carmen Nichols, Assistant City Manager
Subject: Agreement No. 2021-105F, Sixth Amendment to Professional Services Agreement No. 2021-105 with Kosmont Realty for Real Estate Advisory Services
BACKGROUND
On May 17, 2021, the City entered into Agreement No. 2021-105 with Kosmont Real Estate Services, dba Kosmont Realty, for real estate consulting services. The original agreement had an effective date of April 21, 2021, and a not-to-exceed amount of $15,000.
The agreement has since been amended to extend the term and, when needed, provide additional compensation authority. The First Amendment extended the term through June 30, 2023, and added $15,000 in compensation authority. The Second, Third, and Fourth Amendments extended the agreement term without adding additional funding. The Fifth Amendment extended the agreement term through June 30, 2027, and added $20,000, bringing the total agreement amount to $50,000.
Kosmont Realty provides specialized real estate consulting services to assist the City with financial analysis, property acquisition and development strategies, negotiation assistance, and related transaction advisory services. These services are particularly important when the City is evaluating time-sensitive or complex real estate matters that require market expertise, financial modeling, and strategic transaction support.
DISCUSSION
The City is currently using Kosmont Realty to assist with real estate advisory work related to potential property acquisition, development feasibility, valuation, and negotiation strategy. This work requires specialized expertise due to the complexity of real estate transactions, the need to evaluate financial assumptions, and the importance of protecting the City’s interests during negotiations.
Agreement No. 2021-105F Kosmont Realty
August 12, 2026
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Staff recommends that the City Council approve Agreement No. 2021-105F, the Sixth Amendment to the Professional Services Agreement with Kosmont Realty. The Sixth Amendment would add $80,000 in compensation authority, bringing the total agreement amount to a not-to-exceed amount of $130,000. There is no change to the agreement term, which continues through June 30, 2027.
Approval will allow Kosmont Realty to continue assisting the City with real estate consulting services, including financial analysis, property acquisition and development strategies, negotiation assistance, and potential transaction advisory services. Services will be authorized and managed by staff on an as-needed basis and will remain subject to the total not-to-exceed amount approved by City Council.
Approval of this amendment does not authorize the acquisition or disposition of any real property, approve any development project, or commit the City to any future transaction.
Any future real estate transaction or action requiring City Council approval would return to the City Council for separate consideration.
CITY COUNCIL STRATEGIC PLAN FY 2026/27
This item supports the City Council’s Strategic Plan goals related to land use, economic development, and strategic property planning by providing staff with specialized real estate expertise to evaluate market-based solutions, property acquisition and development strategies, redevelopment opportunities, and potential transactions that may further City Council priorities.
This item may also support the City Council’s goal of incrementally advancing opportunities for redevelopment in key commercial areas by allowing staff to evaluate property ownership, market conditions, financial feasibility, and transaction structures in a timely and informed manner.
FISCAL IMPACT
The Fiscal Year 2026/27 budget includes $50,000 for real estate consulting services under the Kosmont Realty agreement. Approximately $20,000 has been spent or committed to date, leaving approximately $30,000 available in the current budget.
Approval of the Sixth Amendment would add $80,000 in additional compensation authority, bringing the total agreement amount to a not-to-exceed amount of $130,000.
To fund the additional services anticipated during Fiscal Year 2026/27, staff requests a budget appropriation of $50,000 from General Fund 101, Fund 101, to Account No. 101- 6501-465.69-28.
With the requested appropriation, the City would have sufficient current-year budget authority to fund the additional $80,000 in services anticipated under the agreement.
Agreement No. 2021-105F Kosmont Realty
August 12, 2026
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CEQA DETERMINATIONS
City staff has determined, in accordance with Section 15061(b)(3) of the California Environmental Quality Act Guidelines, that approval of the Sixth Amendment to the Professional Services Agreement with Kosmont Realty is exempt from CEQA review because it can be seen with certainty that there is no possibility that the agreement amendment itself may have a significant effect on the environment.
The amendment provides only for professional real estate consulting services. Approval of the amendment does not approve any real estate transaction, development project, property acquisition, property disposition, or physical change to the environment. Any future project or transaction requiring environmental review will be evaluated in accordance with CEQA at the appropriate time.
RECOMMENDATION
1. Find that approval of Agreement No. 2021-105F with Kosmont Realty is exempt from review under the California Environmental Quality Act pursuant to Section 15061(b)(3) of the CEQA Guidelines; and
2. Authorize the City Manager to execute Agreement No. 2021-105F, the Sixth Amendment to the Professional Services Agreement with Kosmont Realty, adding $80,000 in compensation authority for a total not-to-exceed agreement amount of $130,000; and
3. Approve a budget appropriation of $50,000 from General Fund, Fund 101, to 101- 6501-465.69-28 for real estate consulting services.
ATTACHMENTS
1. Agreement No. 2021-105F, Sixth Amendment to Professional Services Agreement with Kosmont Realty
REFERENCE MATERIALS – AVAILABLE FOR REVIEW AT CITY HALL None