To: MAYOR AND CITY COUNCIL
From: ANGELICA ZAVALA, HOUSING SUPERVISOR
TITLE
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APPROVE AN AGREEMENT WITH KEYSER MARSTON ASSOCIATES, INC. TO PROVIDE CONSULTATION SERVICES IN THE ADMINISTRATION OF THE INCLUSIONARY AFFORDABLE HOUSING PROGRAM FOR THE AMOUNT NOT TO EXCEED $50,000 FOR THE TERM NOVEMBER 1, 2020 - OCTOBER 31, 2022
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EXECUTIVE SUMMARY
The attached agreement with Keyser Marston Associates, Inc. provides for consultation services to the Housing Authority in the administration of the City's Inclusionary Affordable Housing Program. Keyser Marston Associates, Inc. has offered professional services to the City since 2003. The Inclusionary Affordable Housing Program was established to ensure owners of certain condominium developments in the City set aside a percentage of their units for the purchase or rental by low- and moderate-income seniors. The City of Redondo Beach currently has the following five developments participating in the program: Breakwater Village, The Montecito, Ruxton Place, 542 North Francisca Avenue and Paseo de la Playa Homes.
BACKGROUND
The contract the City had with Keyser Marston Associates, Inc. for consultation services expired on March 18, 2020. In order to recommence their services, staff is recommending approval of the agreement for the period of November 1, 2020 through October, 31, 2022. Contract amount is not to exceed $50,000. Funding is available in the Housing Authority Low- and Moderate-Income Housing budget FY 2020-2021 to fully cover Keyser Marston Associates, Inc.'s fees. It should be noted that General Funds will not be used for this agreement.
Agreement with Keyser Marston Associate, Inc.
Scope of Services: Keyser Marston Associates, Inc. shall perform disposition and financial advisory consulting services for the City, including but not be limited to, the following services:
* Consult, assist, and advise the City with respect to marketing, financial and disposition issues.
* Participate in fo...
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