COMMUNITY DEVELOPMENT DEPARTMENT
450 CIVIC CENTER PLAZA, RICHMOND, CA 94804 Telephone: (510) 620-6706 Fax: (510) 620-6858
MEMORANDUM
DATE: NOVEMBER 1, 2022
TO: MAYOR AND CITY COUNCIL
FROM: LINA VELASCO, DIRECTOR OF COMMUNITY DEVELOPMENT
JESUS M. MORALES, HOUSING MANAGER
RE: MEMO FOR REQUEST FOR QUOTES FOR ON-CALL FINANCIAL AND
ECONOMIC ANALYSES SERVICES
On September 8, 2022, the Community Development Department solicited a Request for Quotes (RFQ) for on-call financial and economic analyses services to support the Housing Division. The RFQ was sent to three vendors via email as an informal solicitation.
All three vendors responded to the RFQ; Land Econ Group (LEG), David Paul Rosen & Associates (DRA), and CSG Advisors (CSG).
Request for Quotes were sent to the following vendors:
VENDOR EMAIL
Land Econ Group [email protected]
David Paul Rosen & Associates
[email protected];
[email protected]
CSG Advisors [email protected]
The three financial services firms solicited through this RFQ are currently providing similar financial and economic analysis services to the City of Richmond or other local municipalities. These firms are well known in the Bay Area and throughout California. In the case of CSG Advisors, they have a national presence with offices throughout major cities in the United States. All three firms are highly experienced around financial and economic analysis as it relates to proposed market rate and affordable single family and multi-family housing developments, commercial, and mixed-use development projects.
Two of the firms, LEG and DRA are currently providing financial consulting services to the city on three major development projects; Terminal One, 12th and Macdonald, and Miraflores. CSG has previously provided similar services to the Richmond Housing
Authority. New city staff has also worked with CSG on other proposed mixed income multifamily residential developments in another jurisdiction.
LEG’s and DRA’s familiarity and current work with city staff on the above referenced major developments makes it important to maintain the consistent analysis and background developed on these projects over the past several months.
Approving these firms, LEG and DRA, for on call financial and economic services would provide a seamless continuation of services currently being provided for major proposed developments and adding another firm (CSG) that can be ready to provide additional support for these or any other major developments in the planning pipeline. Having these highly experienced firms on call will allow for timely and well thought out financial and economic analysis on complex development proposals.
Each service contract will be for an amount not-to-exceed $50,000 over one year, November 1, 2022, through October 31, 2023, with an option to extend the contracts for one additional year.