August 28, 2023
Re: Kosmont Qualifications for Economic Development Studies Kosmont & Associates, Inc., doing business as Kosmont Companies (“Kosmon t” or “Consultant”) is a certified Minority Business Enterprise (“MBE”) and Small Business Enter prise (“SBE”), is a full‐service local government, economics and real estate advisory firm with a 36+‐year track record of working with cities and public agencies on economic development, downtown retail market analyses, and guidance on more than 1,000 public private projects and strategies. Kosmo nt prides itself on working closely with City staff and leaders on economic development projects and a sset strategies.
Our public and private sector experience, and in‐depth expertise in multi ple areas, make us the ideal firm to provide the City with an Economic Study that addresses demographic ,t o u r i s ma n dm a r k e t analysis, economic development strategies, business retention and attr action, and how land use and regulatory policies impacts economic development.
Kosmont was founded in 1986 by Larry J. Kosmont, Chairman and CEO. Leadersh ip includes Innovating Commerce Serving Communities (“ICSC”) U.S. Community Advanc ement Board Co‐Chair Mr. Ken K. Hira, who oversees retail market studies, business retention an d recruitment, public‐ private partnerships, and related tasks through our Kosmont Retail NOW!® platform. Further, our highly experienced team comprises former City Managers, Directors of Eco nomic Development/Redevelopment, Community Development, and Financial Serv ices.
What sets Kosmont apart is our hands‐on experience, practical perspectiv e, and understanding of how current land use/retail trends (e.g., Omnichanneling and Social Medi ap l a t f o r m s )a f f e c tt h e economic landscape (business mix and land use) and investment in a communi t y .W ea r ea w a r eo fn o other firm that possesses the combination of credentials and breadth of co nsulting experience that can be delivered by Kosmont.
We are on the cutting edge of products and services, we achieve financial su ccess for our public and private sector clients, we are committed to community prosperity and qual ity of life and our professional standards are of the highest caliber. We believe our qualifi cations and proposal will prove we are very well‐qualified to deliver the requested services to the C ity.
We look forward to the opportunity to discuss further at your convenience.
Sincerely,
Larry J. Kosmont, CRE® Ken K. Hira
Chairman and CEO President
Kosmont Companies
Mailing Address: 1601 N. Sepulveda Blvd., #382 (424) 297‐1070 Phy sical Address: 1230 Rosecrans Ave., #630 Manhattan Beach, CA 90266 www.kosmont.com Manhattan Beach, CA 902 66 i
KOSMONT AND ASSOCIATES, INC. DBA KOSMONT COMPANIES ‐ www.kosmont.com California Corporation owned & established by Larry J. Kosmont in 1986 / Licensed to do business in State of CA 36+ years in business / Staff of 20+ / Certified Minority Business Enterprise (MBE) & Small Business Enterprise (SBE) Physical/Headquarters: 2301 Rosecr ans Avenue, Suite 4140, El Segundo, CA 90245 Mailing: 1601 N. Sepulveda Blvd. #382, Manhattan Beach, CA 90266 Corporate Officer: Ken K. Hira, President / (949) 226‐0288 / [email protected]
Kosmont provides services to Clients in‐person, virtually from satellite locations, and from the El Segundo headquarters across the Western U.S.
Kosmont Companies (“Kosmont”), a cer tified Minority Business Enterpris e (“MBE”) and certified Small Business Enterprise (“SBE”), is a real estate and economic development services fi rm offering a full range of real estate and financial advisory, economic development strategies/plans, retail/bu siness strategies, project finance, transaction structuring, negotiations, market a nalysis, feasibility studies, spec ial district analysis, community outreach/project implementation services for both the public and private sectors. Kosmont Companies was founded in 1986 by Larry J.
Kosmont, Chairman and CEO, and is nationally recognized. With decades of a dvisory services, Kosmont has assisted hundreds of public agencies in their quest for services and successful pub lic private projects. What sets Kosmont apart is our understanding of how economics relates to future project shap ing, as well as our understanding of both the public and private sectors. Kosmont will integrate our established ab ility, strengths, seasoned experience, and hands‐on approach to deliver the re quested consulting services.
Rather than just write reports, Kosmont believes in a comprehensive appro ach to advisory services that Analyzes, Strategizes, and Implements. A brief highlight of our services is as follows.
Economic Development Consulting Services
• Economic Development Strategies (EDSP/CEDS)
• Kosmont Retail NOW!® Platform
• Special Districts (EIFD, CFD, CRIA, IRFD, CRD)
• Downtown Revitalization
• Asset Management Plans
• Developer Selection RFQ/RFP & DDA/ENA
• Sustainable Economic Development
• ROPS & RDA Dissolution Advisory Services
Land Use/Zoning and Community Planning Services
• Development Opportunity Reserve (D.O.R.)®
• Sales Tax Assessment Revenue (STAR*)®
• Other Zoning & Implementation Strategies for Economic Development Kosmont is a full‐service firm which also provides various integrated services through Kosmont Realty (“KR”) and Kosmont Financial Services (“KFS”). KR is a full service and licensed real estate brokerage firm and KFS is a public finance firm providing financial advisory services, and is registered with the SEC.
Click here to view our Services Overview / Click here view Kosmont's Awards 1 KOSMONT COMPANIES CONSULTANT INFORMATION
Planning and Development Services
• Project Evaluation
• Project Financials & Pro‐Forma Assessment
• Property Acquisition/Leasing
• Land Use/Entitlements
• Due Diligence Reports
Real Estate Economics & Financial Advisory Services
• Fiscal & Economic Impacts
• Project Economics, Highest & Best Use (HBU) & Market
Studies
• Public & Private Financing Structures
• Affordable Housing (Pro Forma, Housing Element,
Negotiations, Feasibility)
CONSULTANT INFO
HISTORY / QUALIFICATIONS
Kosmont has public and private sector experience and in‐depth expertise i n economic development plans, real estate market studies, project development, economic and fiscal impact, and pub lic municipal finance services that supports our client needs. Headquartered in Los Angeles County for 36+ years, Kosmo nt has exceptional knowledge of the regional economy and its trends. Kosmont has worked on projects in the majo rity of cities within the county, school districts, and various other agencies such as the Port of LA and Metro.
EXPERIENCE
2 EXPERIENCE &
QUALIFICATIONS
Kosmont Team: Ken K. Hira, Tom Jirovsky, Fernando Sanchez Kosmont was retained by the City of St. Helena in response to a Request for Pr oposals for Market, Economic and Financing Analysis in support of an ongoing Asset Management Plan. Kosmon t also did a focused retail market analysis and strategy to identify opportunities, leverage the strengths and overcome the threats and weaknesses impacting the downtown district. Other services included assistance in r ecruitment of targeted retailers/developers for identified opportunity sites within the City. Kosmont interviewed Ci ty officials, property owners and business owners to understand current conditions. From these interviews, Kosmont identified several key themes:
• Local market conditions/competition
• Review of City zoning/permit process
On July 25, 2018 the St. Helena Star published an article on Kosmont's study for the City, titled " Study analyzes sluggish sales at St. Helena stores .”
Kosmont followed the report with a series of workshops for downtown retail business owners focused on improving customer outreach using Omnichannel marketing and various Social Media p latforms. Kosmont also prepared a hotel market analysis for a key opportunity site in the City.
CITY OF ST. HELENA: Economic Dev. Services / Market Analysis / Kosmont Retail NOW!® State Street in downtown Santa Barbara had seen declining sales for the pas t five years in 2019. The City issued an RFP and Kosmont was selected / hired to analyze local and regional economic and real estate market conditions, do case study research on successful downtown revitalization, do extensive community outreach with local government, business and community leaders to understand critical issues. Kosmont al so analyzed City planning and permit procedures and land use designations to evaluate potential for blended us e redevelopment. Kosmont presented its final report to City Council in July 2019 outlining an extensive series of s hort term and long‐term action items to restore State Street to a more vibrant community gathering place and comme rcial district.
Kosmont Team: Larry Kosmont, Tom Jirovsky, Brian Moncrief 3 The challenge: Kosmont Companies was retained by the City of Thousand Oaks to prepare a cit ywide Economic Development Strategic Plan (“EDSP”) and Downtown Revitalization Plan wi th the goal of enhancing the City’s business climate and quality of life.
Our response: Kosmont developed a strategy focused on public and private investment in t argeted opportunity sites and areas within the city. Kosmont’s analysis for the EDSP included market and economic analysis, collaboration with City representatives, creation of economic & development profiles, stak eholder outreach, market supply/demand analysis, business/developer attraction and retention strategies, ide ntification of catalytic sites / opportunity areas, and evaluation of existing econ dev programs and incentives.
Kosmont also developed an implementation strategy for the plan which incl uded identification of priority economic development projects, areas and initiatives, creation of economic devel opment approaches/strategies associated with revitalization of commercial co rridors, town centers, and industri al zones, and the evaluation of new public investments/financing, local incentives, and policy recommendations.
The impact: The EDSP emphasized that by identifying key development opportunity area s within the city and utilizing identified economic development tools/strategies, the City would be wel l positioned to direct/influence private sector investment and ensure a strong and sustainable economic future. Th e strategic recommendations fell within the categories of real estate rezoning, asset‐based strategies such as ac quisition/disposition of publicly owned property, public/private investment, education and encouraging entrep reneurship. These recommendations are designed to help build a balance economy for its long‐term financial healt h and quality of life, job growth, support of the arts. As a result of these recommendations, the City embarked on an upda te of their General Plan, the creation of an Economic Development Ad‐Hoc committee, and re‐evaluated certain meas ures/policies that had historically placed significant limits on growth and development.
CITY OF THOUSAND OAKS: Economic Development Strategic Plan (EDSP) & Downtown Revitalization EXPERIENCE &
QUALIFICATIONS
Kosmont Team: Ken K. Hira, Tom Jirovsky, Robert Valenti CITY OF SANTA BARBARA: Retail Market Study / Recommendations for Downtown Revitalization SAMPLE WORK PRODUCT: Santa Barbara Recommendations for Downtown Revitalization
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 I Manhattan Beach, CA 90266 I 424.297.1070 www.kosmont.com
Kosmont Team: Ken K. Hira, Tom Jirovsky, Fernando Sanchez TESTIMONIAL: “As a first year City of Norwalk Councilman and retired member of city management for 30 years, I learned firsthand at the 2018 ICSC Conference in Las Vegas the invaluable role Kosmont Companies brings to a city’s economic development potential. I learned many things at the conference with two of the most important ones being: (1) the complexity of development and project financing requires an extremely knowledgeable and visionary city manager, and (2) cities working with Kosmont executives like Ken Hira can connect a city to the exact people/companies to maximize and ultimately accomplish your city’s transformational economic development plan.” - Tony Ayala, Councilmember City of Norwalk
CITY OF NORWALK: Economic Development Opportunities Plan The City of Norwalk contracted Kosmont Companies to develop a comprehensi ve Economic Development Opportunities Plan (“Plan”) for the City. Kosmont utilized the existing C ity General Plan, interviews with City Council members, previous studies and reports and conducted research to provide a current description of the local and regional market, economic, demographic, and employment findings.
Kosmont evaluated market supply and
demand conditions for various development
types (retail, entertainment district, and
hotel). Analyses included retail sales
leakage/capture and a Strengths,
Weaknesses, Opportunities, and Threats
(“SWOT”) analysis to evaluate economic
development potential for 10 identified
economic nodes. Additionally, solicited site
visits with business prospects/developers,
conducted public workshops, and prepared
opportunity site marketing materials, and
represented the City at various ICSC and
related real estate conferences.
Kosmont continues to work with the City to
assess economic development tools and
funding sources to implement projects at key
economic nodes identified in the Plan
including City owned real estate assets /
opportunities programmed for future
development.
Kosmont’s EDOP for the City of Norwalk was adopted by the City Council on Oct ober 2, 2018. View the Norwalk ‐ Economic Development Opportunities Plan . Kosmont is currently assisting the City on implementation services including public private transactions / projects and updating the EDOP.
EXPERIENCE &
QUALIFICATIONS
4 Kosmont Team: Ken K. Hira, Tom Jirovsky, Robert Valenti
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 I Manhattan Beach, CA 90266 I 424.297.1070 www.kosmont.com
Kosmont is finalizing work on an Economic Opportunities Study (EOS) for th e City of Pacifica, a coastal community south of San Francisco. The EOS identifies commercial opportunities supp orted by market forces and enhanced by steps the City and community can take. Kosmont is assisting the City by prov iding a market analysis and recommendations for each district. The goal is to create a compelling expe riences and foster a sense of community.
The EOS takes a close look at the five main business districts in the City. Gi v e ns h i f t i n gc o n s u m e rp r e f e r e n c e sa n d land uses, and uncertain economic times and fiscal challenges, it is impor tant that Pacifica identify opportunities to spur select new development that can increase General Fund revenues.
Kosmont’s approach to preparing the Economic Opportunities Study includ ed the following tasks:
• Review of City Budget and Planning documents, tour of the City and its busin ess and residential districts • Interviews with City staff, Council members, and community stakeholders • Assessment of regional economic trends
• Assessment of local demographic and market conditions • In person and virtual outreach to gain insights as to needs and challenges a nd present preliminary findings • Identification of key opportunity sites and recommended land uses CITY OF PACIFICA: Economic Opportunities Study
Kosmont ‐ Pacifica Economic Opportunity Study Summary Presentation for Study Session ‐ January 2023.pdf EXPERIENCE &
QUALIFICATIONS
Kosmont brings a well‐rounded professional team with the required expert ise and exemplary skillsets to provide the requested services. Kosmont’s senior‐most staff have been with the firm f or a decade or longer, providing hands‐on seasoned experience and continuity on assignments. Staff is assigned as a ppropriate based on their skills, qualifications, and availability in order to successfully provide servi ces to Client in a timely fashion, stay within budget, and produce a high‐quality finished product. Resumes with qualif ications for those team members assigned may be found on the following pages.
The Kosmont team has a proven track record and the qualifications to provid e the knowledge, guidance, and execution of those services necessary to assist the City in making informe d decisions moving forward. Our team is enthusiastic, ready, and will be available to provide those services.
MEET THE TEAM
5 Mr. Ken K. Hira serves as President for Kosmont Companies. An expert in real estate and economic development, Mr. Hira brings over 30 years of varied experien ce in virtually every aspect of acquisition, entitlement, development, finan cing, asset management, disposition, downtown revitalization, and strategic plans . His strengths include a keen understanding of retail trends, business retention/attra ction, negotiating public‐private transactions and implementing blended‐use projects that revitalize communities and assist in economic development/tax generati on programs.
A former Executive Vice President and mixed‐use developer, Mr. Hira manag ed a portfolio of over $100 million of retail sites, while operating the commer cial division of the company. Prior to this, as Managing Director of Acquisitions for a deve lopment company and Vice President of Development at a development firm, he evalua ted and underwrote hundreds of acres of land, successfully captured and negotiat ed anchor tenant commitments creating $60 million of value in ground‐up developmen ta n d redevelopment and was responsible for 800,000 square feet of retail entit lement, design and development. As Vice President of a shopping center company bas ed in San Diego (6 years), Mr. Hira entitled one million square feet of retail dev elopment projects, as well as led the acquisiti on of 24 neighborhood and community s hopping centers, totaling 3.3 million square feet and valued at $375 million, and o rganized a $287 million recapitalization.
LICENSES/AFFILIATIONS:
Mr. Hira is an active volunteer leader of the Innovating Commerce Serving Communities (ICSC) (formerly International Council of Shopping Centers ). He was nominated and serves as the Co‐Chair of the ICSC Community Advancement Boa rd, nationally advocating public‐privat e partnerships, while previously s erving as the ICSC Western Division P3 Retail Co‐Chair, Southern California State Director ,P r o g r a m Committee Chair and Alliance Co‐Chair.
Project Role:
Principal Advisor
Years with Firm: 13+
Years of Experience: 30+
Education:
Bachelor of Economics
and Business, UCLA
Ken K. Hira President RELEVANT EXPERIENCE:
Throughout his career, Mr. Hira has managed hundreds of public & private se ctor consulting assignments. A few of his more recent projects are summarized b elow:
• City of Pacifica (Economic Opportunities Study)
• City of Santa Barbara (Downtown Revitalization)
• City of Sausalito (Land Economics Study)
• City of St. Helena (Asset Strategy/ Downtown Retail Analysis) • City of Capitola (Mall Redevelopment Feasibility)
• Union City (Power Center Tenanting Strategy)
• City of Buellton (Market & Economic Analysis / Specific Plan wit h Development Opportunity Reserve D.O.R.)® • City of Daly City (Economic Development Strategy and Opportunity Site Developer Negotiation Assistance) • City of Banning (CEDS)
• City of Anaheim (Strategic Site Analysis)
• City of Agoura Hills (Agoura Village Specific Plan Feasibility Analysis) EXPERIENCE &
QUALIFICATIONS
6 KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 I Manhattan Beach, CA 90266 I 424.297.1070 www.kosmont.com
Mr. Thomas Jirovsky is a Senior Advisor with Kosmont Companies. Mr. Jirovsky provides services related to real estate pro formas, development feasibi lity and financial incentives, economic development strategies, fiscal and econ omic impact, and asset management to public agencies and developers.
He is a former Senior Managing Director with CBRE and headed their national land use and economic consulting practice. Prior to joining CBRE in 2000, he was CFO and a principal with Kotin, Regan & Mouchly, Inc.
Throughout his 35‐year career he has managed over 1,000 consulting assign ments specializing in the areas of feasibility analysis, with particular empha sis on analysis of residential and commercial development, downtown revitalization strat egies, land secured financing strategies, asset management plans, and public/priva te joint ventures for development projects of all sizes.
He also has extensive experience in e valuating transit‐ oriented develop ment opportunities for public and private property owners, as well as transit a gencies throughout California and the western U.S..
LICENSES/AFFILIATIONS:
Mr. Jirovsky is a LEED Accredited Professional and a member of the Innovati ng Commerce Serving Communities (ICSC) (formerly International Council of Shopping Centers) and Urban Land Institute (ULI).
Project Role:
Project Manager
Years with Firm: 10+
Years of Experience: 35+
Education:
‐ B.S. in Architecture,
University of Southern
California with honors
‐ MBA in Finance,
University of Southern CA
Thomas Jirovsky Senior Advisor
RELEVANT EXPERIENCE:
A few of his more recent projects are summarized below:
• City of Pacifica (Economic Opportunities Study)
• City of Santa Barbara (Downtown Revitalization)
• City of Sausalito (Land Economics Study)
• City of St. Helena (Highest & Best Use Analysis / Asset Strategy/ Downtown Retail Analysis) • City of Agoura Hills (Specific Plan Feasibility Study) • City of Capitola (Mall Redevelopment Feasibility)
• Union City Power Center (Tenanting Strategy)
• City of Banning (CEDS)
• San Luis Obispo (Palm Nipomo parking structure P3)
• City of Gardena (Artesia Corridor Specific Plan Feasibility) • Gateway to LA (Retail Strategy)
• Downtown City of Placentia (Fiscal & Economic Impact) • City of Thousand Oaks (Economic Development Strategic Plan) • City of Indian Wells (Hotel Feasibility Analysis)
EXPERIENCE &
QUALIFICATIONS
7 KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 I Manhattan Beach, CA 90266 I 424.297.1070 www.kosmont.com
Robert Valenti Vice President
RELEVANT EXPERIENCE:
A few recent samples of relevant projects are summarized below. • City of Sausalito – Land Economics Study
• Mountain House CSD – Commercial Land Use Analysis
• City of Pacifica – Economic Opportunities Study
• City of San Rafael – Economic Development Strategic Plan (ongoi ng) • City of Corona – Downtown Revitalization Plan
• City of Anaheim, CA – Opportunity Site Advisory Services • City of Laguna Hills – Fiscal Impact Analysis, Economic Research • Private Sector Clients (Fiscal Impact Analysis, Highest and Best Use Ana lysis and Real Estate Advisory)
Kosmont: Econ Development Strategies (Market/Demographic Analyses & La nd Use Strategies) • City of Santa Ana – Opportunity Zone Strategy
• City of El Cajon – Opportunity Zone Strategy and Advisory Services • City of Santa Barbara (Downtown Strategic Plan)
• City of Los Angeles, CA – Downtown – EIFD Evaluation
• City of Fresno – Downtown / Blackstone Bus Rapid Transit Corridor EIFD Form ation • City of Indian Wells – EIFD Evaluation
• City of El Segundo + L.A. County – EIFD Evaluation
Numerous cities and private sector clients in cities throughout Californ ia • Enhanced Infrastructure Financing District (EIFD) Feasibility Analysi s ‐ Palmdale, Azusa, El Segundo, Los Angeles
State of Rhode Island, Office of Management and Budget
• Econometric modeling and forecasting of state revenues and correctional populations. • Creation, review, and evaluation of economic analyses for state policy is sues and significant rulemaking actions Project Role:
Project Research and
Support
Years with Firm: 4 +
Years of Experience: 8
Education:
‐ Master of Public Policy,
Brown University
‐ Bachelor of Arts in
political science, College
of the Holy Cross in
Worcester, MA
Mr. Robert Valenti is a Vice President with Kosmont Companies, supporting public and private sector clients with market and economic analysis, land use ana lysis, fiscal impact analysis, strategic planning, and real estate development adviso ry. He also assists with geospatial analysis o f boundaries and funding and financing feasibility studies of tax increment financing districts.
Prior to joining Kosmont Companies, Mr. Valenti served as a principal econ omic and policy analyst for Rhode Island’s Office of Management and Budget. While w ith OMB, Mr. Valenti was responsible for conducting economic and regulatory impac t analyses, managing analytic projects that cut across multiple agencies, and provid ing strategic support for complex and sensitive policy issues. He also has a background i nu r b a n policy and experience with housing program development with community development organizations.
EXPERIENCE &
QUALIFICATIONS
8 KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 I Manhattan Beach, CA 90266 I 424.297.1070 www.kosmont.com
REFERENCES
CITY OF DALY CITY, 333 90TH STREET, DALY CITY, CA 94015 Tatum Mothershead, Director of Economic and Community Development (650) 991‐8159 / [email protected]
Click to view letter of recommendation.
PROJECT: Economic Development Strategy & Real Estate Advisory CITY OF ST. HELENA, 1480 MAIN STREET, ST. HELENA, CA 94574 Mark Prestwich, former St. Helena City Manager, Current Rancho Palos Verdes Estates City Manger (916) 248‐1192 / [email protected]
PROJECTS: Economic Dev. Services / Market Analysis / Kosmont Retail NOW!®
KOSMONT CLIENT REFERENCES
CITY OF SAUSALITO, 420 LITHO STREET, SAUSALITO, CA 94965 Brian Moura, RGS, former Advisor to City / (650) 995‐6249 / [email protected] Project: Land Economics Study
CITY OF PACIFICA, 540 CRESPI DRIVE, PACIFICA CA 94044
Yulia Carter, Assistant City Manager ‐ (650) 501‐6004 / [email protected] PROJECT: Economic Opportunities Study
CITY OF NORWALK, 12700 NORWALK BLVD, NORWALK CA 90650
Jesus Gomez, City Manager ‐ (562) 929‐5944 / [email protected] Click to view letter of recommendation.
PROJECT: Economic Development Opportunities Plan
CITY OF THOUSAND OAKS, 2100 THOUSAND OAKS BLVD., 91362
Haider Alawami, Economic Development Manager / (805) 449‐2135 / [email protected] PROJECTS: Economic Development Strategic Plan (EDSP) & Downtown Revitalization CITY OF SANTA BARBARA, 735 ANACAPA STREET, SANTA BARBARA, CA 93 101 Nina Johnson, former Sr. Asst. to City Administrator / (805) 453‐1325 PROJECTS: Retail Market Study / Recommendations for Downtown Revitalization 15