HomeMy WebLinkAboutMINUTES - 09102002 - C179 Contra
.� Costa
TO: REDEVELOPMENT AGENCY `r aCounty
FROM: John Sweeten
Executive Director
DATE: September 10, 2002
SUBJECT: Real Estate Financial Services, SART Property, Pleasant Hill BART
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION
APPROVE and AUTHORIZE the Redevelopment Director to execute a contract amendment with Allan
D. Kotin and Associates,to a)increase the payment limit by$38,000 to a new payment limit of$62,500;
and b)extend the contract term to June 30,2003 for real estate financial consulting services relative to
the BART Property at the Pleasant Hill BART Station.
FISCAL IMPACT
None. No general funds are involved. The Redevelopment Agency's funds have been budgeted for this
purpose.
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CONTINUED'ON ATTACHMENT: ®X�YES SIGNATURE: !!
tECOMMENDATION OF EXECUTIVE DIRECTOR R COMMENDATION OF GENCY
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VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT None } TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
Contact: Jim Kennedy
335-1255
orifi: Redevelopment Agency ATTESTED &t~enrber 10, 2002
cc: County Administrator's Office JOHN SWEETEN
County Counsel AGENCY SECRETARY
Community Development
via: Redevelopment Agency
Contractor
BY # , DEPUTY
w:Personal\BOARDORDERS\Board.RDA.ailankotin.9.a2
BACKGROUND/REASONS FOR RECQMMENDATIONS
The ultimata development of the SART property at the Pleasant Hill BART Station is
expected to require significant financial participation on the part of the Contra Costa County
Redevelopment Agency. In order to refine and evolve the Redevelopment Agency's
business plan for financial assisting and participating in the BART property development,
and negotiating a financial agreement with BART and the property developer,the assistance
of a real estate financial consultant is required. This effort is ongoing and the additional
budgetauthority is required to bring the negotiations to closure.