Fremont City Council Meeting: 07/14/26 07:00 PM
3300 Capitol Avenue Div/Dept: Housing
Fremont, CA 94538 Category: Agreements and Contracts
SCHEDULED
Sponsors:
COUNCIL STAFF REPORT (ID # 5774) DOC ID: 5774
Updated: 7/10/2026 9:30 AM by Alberto Quintanilla Page 1 On-Call Financial Analysis Consultant Services – Authorize the City Manager or Designee to Execute a Master Service Agreement with Mosaic Urban Development, LLC to Support Affordable Housing Financial Analysis Services for the Next Five Years
Contact Persons:
Name: Lucia Hughes Joel Pullen
Title: Housing Manager Community Development Director
Div/Dept: Housing Community Development
Phone: 510-494-4506 510-494-4436
E-Mail: [email protected] [email protected]
Executive Summary: The Community Development Department utilizes a number of on-call consulting services to support land use, fiscal, real estate and development-related services. On-call consultants provide expertise that supplements staff skills (e.g. financial analysis for affordable housing developments) or staffing during periods of peak demand. Staff requests that the City Council authorize the City Manager, or designee, to execute a master service agreement with the consultant recommended in this report.
Background: The City of Fremont has a robust affordable housing program funded primarily from fees paid by market rate housing developers and former redevelopment agency funds. From time to time the City issues a Notice of Funding Availability (NOFA) for the development of affordable housing, most recently in 2023, for new construction or rehabilitation of market rate projects for the purpose of creating new affordable rental housing for extremely-low, very-low, and low-income households of no more than 80% of area median income. In addition to projects funded by the City, there are also occasional re-syndications or refinancing of existing affordable housing developments. As a result, the City has a significant and ongoing pipeline of affordable housing projects that require detailed financial analysis. Consultants under a Master Service Agreement will provide such services on an on-call basis, via an authorized Task Order, when services are needed.
Discussion/Analysis: On May 28, 2026, the Housing Division of the Community Development Department issued a solicitation in accordance with the City’s Purchasing Ordinance: Request for Qualifications (RFQ) for on-call consultant services that support affordable housing financial analysis.
The affordable financing landscape is complex and constantly evolving. As a Council Staff Report (ID # 5774) Meeting of July 14, 2026 Updated: 7/10/2026 9:30 AM by Alberto Quintanilla Page 2 result, the Housing Division requires specialized knowledge that staff does not have the expertise to provide. Three firms submitted Statements of Qualifications (SOQs) in response to the RFQ and were determined qualified.
Based on an evaluation of the SOQs, staff is recommending that the City enter into an agreement with Mosaic Urban Development, LLC. (Mosaic).
Housing staff has consistently experienced excellent satisfaction in previous collaboration with Mosaic team. Mosaic has over twenty years of experience in all aspects of affordable housing finance, including analysis of project underwriting, portfolio restructuring, and regulatory compliance. Mosaic is a local firm with an extensive clientele throughout the Bay Area and beyond, ensuring familiarity with regional needs and regulations. . Furthermore, Mosaic agreed to all of the City’s standard contract terms and that Mosaic’s billing rates are reasonable when compared to all qualified responders.
The majority of the work performed by the on-call consultant will be funded directly by the party requesting approval from the City. This includes situations where approval is sought for changes to a previously approved financing plan, or for requests involving resyndication, refinancing, or loan restructuring, etc. Additionally, the consultant will evaluate proposals submitted under an Affordable Housing NOFA. In these cases, compensation for their services will come from the Affordable Housing Fund 196 (in-lieu fees paid by market-rate developers).
Staff recommends that the City enter into a Master Professional Services Agreement with Mosaic Urban Development, LLC, for affordable housing financial analysis services for a term of five years in an amount not to exceed $500,000.
Fiscal Impact: Much of the on-call work to be completed by the consultant will be funded directly by the party requesting affordable housing financing from the City, or by the Affordable Housing Fund 196.
Environmental Review: Environmental review is not required as the master service agreement(s) are exempt and not a project pursuant to, without limitation, California Environmental Quality Act (CEQA) Guidelines Sections 15061(b)(3) and 15378(b)(2), (4) and/or (5) It can be seen with certainty that there is no possibility that authorization of the agreement(s) will have a significant effect on the physical environment. Each of the foregoing provides a separate and independent basis for CEQA exemption.
Council Staff Report (ID # 5774) Meeting of July 14, 2026 Updated: 7/10/2026 9:30 AM by Alberto Quintanilla Page 3 Attachments: None.
Recommendation: Approve and authorize the City Manager, or designee, to execute and take all steps reasonable and necessary to implement a Master Professional Services Agreement with Mosaic Urban Development, LLC, for on-call affordable housing financial analysis services for a term of five years in an amount not to exceed $500,000.