RESOLUTION NO. ____________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FOSTER CITY APPROVING CONTRACT AMENDMENT NO. 1 TO THE AGREEMENT WITH HIP
HOUSING AFFORDABLE VENTURES INC (HHAV) FOR PROPERTY MANAGEMENT SERVICES FOR WORKFORCE HOUSING IN AN AMOUNT NOT TO EXCEED $60,040 TO INCREASE THE AGREEMENT TOTAL FROM $36,960 TO $97,000 AND OTHER REVISIONS; AND AUTHORIZING THE MAYOR TO EXECUTE THE AMENDMENT
CITY OF FOSTER CITY
WHEREAS, on November 1, 2021, the City of Foster City executed an agreement HHAV for property management of the Workforce Housing property located at 501 Pilgrim Drive, Foster City; and
WHEREAS, On March 7, 2022, HHAV and staff presented a proposed budget and projected cash flow for Workforce Housing, and the City Council adopted City Resolution No. 2022-22, authorized the Finance Director to make the corresponding budget appropriations in the Workforce Housing Fund 139; and
WHEREAS, on April 18, 2022, the City Council, via City Resolution No. 2022-42, approved an amendment to the revenue and expenditure budget for Fiscal Year (FY) 21-
22. Budgets for FY 22-23, 23-24, and 24-25 were subsequently approved; however, a corresponding amendment to the agreement with HHAV was not executed; and WHEREAS, now that the property is fully operational and has been occupied for one year, the contract also needs to be amended to reflect the current and anticipated invoices billed by HHAV for annual property management fees, repairs, and maintenance, as well as to cover emergency repairs or other expenses; and WHEREAS, staff wishes to ensure consistency in the agreements for the management of city-owned properties and recommends updates to the HHAV contract for Workforce Housing.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Foster City does hereby:
Approve Contract Amendment No. 1 to the existing contract with HIP Housing Affordable Ventures, Inc. for property management services for the Workforce Housing Property dated December 13, 2021, in the amount of $60,040 to increase the annual Agreement total to $97,000 per fiscal year.
BE IT FURTHER RESOLVED, the Mayor is authorized to execute Contract Amendment No. 1, in a form approved by the City Attorney.
PASSED AND ADOPTED as a Resolution of the City Council of the City of Foster City at the regular meeting held on the 18th day of November 2024 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
PATRICK SULLIVAN, MAYOR
ATTEST:
PRISCILLA SCHAUS, CITY CLERK