RESOLUTION NO. ____________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FOSTER CITY APPROVING CONTRACT AMENDMENT NO. 2 TO THE AGREEMENT WITH HIP HOUSING AFFORDABLE VENTURES INC. (HHAV) FOR PROPERTY MANAGEMENT
SERVICES FOR THE EXISTING UNIT PURCHASE PROGRAM (EUPP) UNITS FOR A DEDUCTION OF $109,600 TO LOWER THE CONTRACT MAXIMUM FROM $167,600 TO $58,000, AND OTHER REVISIONS; AND AUTHORIZING THE MAYOR TO
EXECUTE THE AMENDMENT
CITY OF FOSTER CITY
WHEREAS, on February 24, 2021, the City of Foster City executed an agreement with HHAV for property management of the six (6) EUPP units in Foster City; and WHEREAS, on March 18, 2024, the City Council approved Amendment No. 1 to the Agreement for the EUPP units, increased the contract maximum from $45,000 to $167,660 to cover emergency repair work for 833 and 835 Comet Drive; and WHEREAS, the majority of the repair work has been completed, and the contract amount needs to be revised; and
WHEREAS, the terms of the agreement for the Existing Unit Purchase Program need updating to include a revised contract maximum, contract termination date, a change in procedures for invoicing and payment, a change in contacts for notices, and changes to exhibits to reflect additional duties performed by HHAV, the current fees and fee structure, and leasing guidelines; 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 EUPP units.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Foster City does hereby:
Approve Contract Amendment No. 2 to the existing contract with HIP Housing Affordable Ventures, Inc. for property management services for Existing Unit Purchase Program units dated February 24, 2021, in the amount of ($109,600) to lower the contract maximum from $167,600 to $58,000 per year.
BE IT FURTHER RESOLVED, the Mayor is authorized to execute Contract Amendment No. 2, 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