12/2/2014 - City of Santa Monica
City Council Report
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City Council Meeting: January 24, 2012
Agenda Item: 3-P
To: Mayor and City Council
From: Andy Agle, Director of Housing and Economic Development Subject: Professional Services Agreements for Real Estate and Economic Development Consulting Services
Recommended Action
Staff recommends that the City Council:
1. Authorize the City Manager to negotiate and execute a Professional Services Agreement (PSA) with Keyser Marston Associates in the amount of $80,000; and
2. Amend an existing PSA (Contract No. 9113 (CCS)) with Allan D. Kotin & Associates in the amount of $70,000 for a new contract total of $225,000.
Executive Summary
This report recommends awarding a contract to Keyser Marston Associates (KMA) in the amount of $80,000 and extending an existing contract with Allan D. Kotin & Associates in the amount of $70,000 for the purposes of providing professional real estate and economic development advice and support to City staff regarding complex property transactions involving property leasing, property acquisition and/or formulation of public/private development partnerships. The total cost of the recommended action is $150,000.
Discussion
The City of Santa Monica Housing and Economic Development Department's Economic Development Division periodically requires specialized real estate consulting services to advise staff and Council on complex property transactions involving property leasing, property acquisition and/or formulation of public/private development partnerships. These projects generally relate to commercial and industrial properties, capital projects such as parking structures, and private development within the City's retail and commercial districts. These projects include the Fourth and Arizona redevelopment site, the Downtown Santa Monica movie theatre development and the Bergamot Station Arts Center development and leasing guidelines.
The consultant's services would be on an as-needed basis, providing technical assistance on a variety of different projects and properties, including the redevelopment of the Fourth and http://www.smgov.net/departments/council/agendas/2012/20120124/s2012012403-P.htm 1/3 12/2/2014 - City of Santa Monica
Arizona site and the leasing structure for the Bergamot Station Arts Center. The consultants may be asked to review and comment upon developer pro-formas, advise staff regarding the structuring of real estate transactions and deals, participate in negotiations, and provide other relevant economic information, as requested. Consultants' services would also likely include attending public meetings and presenting to the City Manager and City Council, as necessary and providing assistance with:
• Pro forma analysis
• Economic impact analysis
• Fiscal Impact analysis
• Financial feasibility
• Joint venture and ground lease structuring
• Ground lease negotiation
• Developer selection
Contractor/Consultant Selection
In December 2011, staff released a Request for Qualifications (RFQ) for professional real estate and economic development consulting services. The RFQ was posted on the City's online bidding website, Planet Bid. In addition, five consultants who have worked with the City on previous projects were invited to submit qualifications. A total of thirteen responses were received by the January 18, 2012 deadline. Staff reviewed the proposals and selected the recommended firms due to their relevant experience, staffing capacity, relative price and strong local government references.
KMA has previously assisted City with the Civic Center Village and the Downtown Parking Strategy Update. Based on their experience and qualifications, KMA is uniquely positioned to provide expertise to staff on a number of upcoming projects. Their scope of work would include the Bergamot Station Arts Center developer selection process and leasing guidelines, and undertaking fiscal impact analysis for several other projects. It is recommended that a contract be awarded to KMA for $80,000.
Allan D. Kotin & Associates has worked with the City on a variety of real estate acquisition and lease structuring projects, including the Fourth and Arizona site and the AMC Movie Theatre development proposal. It is recommended that the existing contract be extended by $70,000 to continue the implementation of these Downtown Santa Monica projects.
Financial Impacts & Budget Actions
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Funds for these contracts were transferred to the City by the Redevelopment Agency pursuant to Cooperation Agreement No. 9267, executed September 1, 2010, between the Agency and the City, under which the City is implementing these redevelopment projects. The contract to be awarded by Keyser Marston Associates is $80,000. The contract amendment to be awarded to Allan D. Kotin & Associates is $70,000 for additional scoping to be added to the existing contract for a new contract total of $225,000. Funds in the amount of $150,000 are available in account R01077617.589000.
Prepared by: Jennifer Taylor, Economic Development Administrator Approved: Forwarded to Council:
Andy Agle, Director Rod Gould
Housing and Economic Development City Manager
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