HomeMy WebLinkAboutMINUTES - 04262005 - C54 TO: REDEVELOPMENT AGENCY ; -=•-•-- -.,a�, Contra
FROM: John Sweeten Executive DirectorCosta
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DATE: April 26, 2005
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SUBJECT: BART Property Financial Consultant County
SPECIFIC REQUEST{S}OR RECOMMENDATION{S}&BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
APPROVE and AUTHORIZE the Redevelopment Director or his designee to execute a
contract amendment with Allan D. Kotin & Associates effective April 1, 2005, to increase the
payment limit by $46,500 to a new payment limit of $225,000 to provide additional services as
required in the expanded scope of work, with no change in term through December 31, 2005.
FISCAL IMPACT:
No General Fund impact. Budgeted Agency tax increment funds will be used.
BACKGROUND:
The County, the Redevelopment Agency, and BART have formed a Joint Powers Authority at
Pleasant Hill BART to ground lease the BART property for a mixed-use development
comprised largely of residential rental, office, and neighborhood serving retail. The
development program also includes a for-sale residential piece on land to be sold in fee title.
A limited partnership formed by Millennium Partners is the development entity.
The JPA staff from the Agency and BART have been engaged in business negotiations with
the developer for some time and are close to conclusion on a business terms sheet, which will
be the basis for the development of the legal documentation including Disposition &
Development Agreements and Ground Leases. The contract amendment and expanded
scope of work will encompass the initial implementation of the documents that will set up the
procedures and programs to implement the business terms.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
_ 4,-R'E`COMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATI OF AGENCY MMITTEE
_^.-....APPROVE OTHER
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SIGNATURE{S}: oe
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ACTION OF AGE Y N APPROVE AS RECOMMENDED U.
VOTE OF COMMISSIONERS I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
UNANIMOUS{ABSENT �� } AND ENTERED ON THE MINUTES OF THE
REDEVELOPMENT AGENCY ON THE
DATE
AYES: NOES: SHOWN.
ABSENT: ABSTAIN:
OFr
ATTESTS
CONTACT: Jim Kennedy,335-1255 JOHN EETEN
Original: Redevelopment Agency AGENCY SECRETARY
Cc: CAO
County Counsel
Auditor-Controller
Community Development
Via Redevelopment: B, �'"�'' ,DEPUTY
Allan D.Kotin&Associates
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