HomeMy WebLinkAboutR01-Redevelopment Agency
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Redevelopment Agency . City of San Bernardino
3OONanh"D"Saeot. _Floor. Smll<mlnlmo, Calif..... 92418
(714) 384-.5081 FAX (714) ....9413
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JUNE 30, 1989
PROPOSED KATZ, HOLLIS, COREN AND ASSOCIATES CONTRACT AMENDMENT
SynoDsls of Previous Commission/Council/committee Act'on:
6/5/89
6/22/89
6/29/89
committee continued to 6/22/89
committee continued to 6/29/89
Committee forwarded matter to commission
(COMMUNITY DEVELOPMENT COMMISSION)
Recommended Motion:
a. That the Commission approve a proposed amendment to the contract
with Katz, Hollis. Coren & Associates, Inc. to provide for
expanded services over a one-year term at a cost not to exceed
$42,500.
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b. That the Comm'sslon approve a proposed amendment to the contract
with Katz, Hollis, Coren & Associates, Inc. to provide for
expanded services over a one-year term at a cost not to exceed
$82,500.
Supporting data attached: Yes
FUNDING REQUIREMENTS: $37,500
Hard:
All
Project: All
commission Notes:
SD:lc.p: 1362S
Agenda of: July 5. 1989
Item No. I
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Redevelopment Agency
STAFF
RE P 0 R T
This Is to request that the Commission approve a proposed amendment to the
contract with Katz, Hollis, Coren & Associates, Inc. <Katz Hollis) to provide
for expanded services over a one-year term at a cost not to exceed $42,500.
BACKGROUND
On March 20, 1989, the Commission authorized approval of a contract with Katz
Hollis to assist In the development of a long-term financial plan for the
Agency. It was anticipated that the majority of the work program could be
accomplished within 90 days of execution of the contract, and thus the
Information would be available by the start of the new fiscal year.
Katz Hollis has completed a preliminary assessment and on May 3D, 1989 arrived
at several Initial findings/recommendations. These findings/recommendations
are summarized below:
1. Agency staff's tax Increment revenue monitoring and verification
procedures require some expansion and modification to provide
more timely and complete results;
2. Substantial modification to Agency staff's assumptions and
methodologies relative to tax Increment revenue projections Is
necessary;
3. A systematic analysis of Agency obligations <through bonds or
otherwise) and proper accounting for these obligations must be
prepared;
4. The Agency needs to modify Its accounting and financial
management procedures; and
5. Agency counsel needs to review existing documentation to
ascertain whether the Agency Is In conformance with recent
housing requirement legislation.
AB:mv:1753R
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R~"~~memA~D~
In conducting their preliminary assessment of the Agency's fiscal
activities. Katz Hollis encountered a number of limitations which delayed
their progress In completing the work program as originally scheduled.
Among these Issues were the following: a lack of consolidated Information
relative to project area development activities that are not Agency
assisted and are needed to analyze accurate tax Increment projections;
complicated and In some cases unclear language relative to the allowable
tax Increment limits that require legal review In several of the project
area plans; Inconsistencies In some of the revenue estimates prepared by
staff; a lack of comprehensive listings of Agency obligations necessary
for accurate cash flow projections; a lack of adequate accounting
methodologies and systems to Identify fund balances; and a lack of
current or complete financial statements relative to each project area.
For your Information. on June 19. 1989. Agency staff provided Katz Hollis
with an Initial response to their preliminary findings which In certain
areas differs with Katz Hollis. Under the amended contract Katz Hollis
will be required to reconcile any differences.
Nevertheless. as a result of the above. It has become necessary for Katz
Hollis to perform time consuming Independent research and Investigation
In order to gather and format the voluminous base data/Information
necessary to complete their analysis and projections. At the outset of
the contract. It was Intended that Katz Hollis would only review and
verify the available staff work and proposed recommendations or
modifications to staff's projections.
8ased upon the above limitations. Katz Hollis will only be able to
complete their analysis of the Agency's tax Increment revenues and bond
obligations as of June 30. 1989. within the current contract limit of
$25.000. To provide a reconciliation of their Initial findings relating
to the accomplishment of the overall work program and staff's response to
those findings as well as certain financial advisory services In
relationship to pending bond Issues. It Is proposed that the contract be
amended to provide for completion of the work over a one-year period at a
cost not to exceed $42.500. For your Information the proposed contract
amendment also contains several additional or special work activities
that may need to be performed. The decision to carry out these
activities and the assessment of their cost(s) will be dependent on the
results of Katz Hollis' reconciliation of their and Agency staff's
Inlt'al findings/responses. If as a result additional resources are
required. an appropriate contract amendment can be recommended later.
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.ent Agency
II is Important to note that the purpose of the alternatIve motIon lIsted
..tie cover sheet Is to allow the CommIssIon the optIon of IncludIng an
~ttonal $40,000 In the contract amendment. These addItIonal funds
-..fd pay for the several addItIonal or specIal work actIvIties that may
"leIded. The proposed contract amendment that would Implement thIs
a1teraatlve Is also attached (Exhibit 2). Although thIs alternatIve was
~sed wIth the Redevelopment CommIttee at their meetIng on June 29,
1111. It Is now staff's belIef that the Agency wIll be better served by
IWOCeIdlng wIth a smaller contract amendment InItIally and consIder
fiwtier amendments If the results of Katz HollIs' reconcilIatIon of theIr
... Agency staff's InItIal fIndIngs/responses justIfIes such an effort.
lie attached proposed contract amendment(s) and revIsed work program
(Attachment I) to complete the fInancIal analysis beIng performed by Katz
tiUs has been approved, as to form and legal content and executed by
CItz Rollls. It Is, therefore, requested that the CommIssIon approve the
attached amendment to the Katz HollIs contract and authorIze the
Executive DIrector to execute the agreement.
118:1IV:1753R
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RedevelopmeDt Ageuty
REDEVELOPMENT AGENCY CITY OF SAN BERNARDINO
CONTRACT AMENDMENT
Amendment No. 01
THIS AMENDMENT TO AGREEMENT made this day
of . 1989. by the Redevelopment Agency of the City of
San Bernardino. hereinafter called the "Agency". and Katz. Hollis. Coren
& Associates, hereinafter called the "Contractor".
WITNESSETH THAT:
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WHEREAS, the Agency and the Contractor previously entered Into an
original Agreement on March 20. 1989; and
WHEREAS, It now becomes necessary to amend said Agreement and both
parties are desirous of such amendment.
NOH. THEREFORE. In consideration of the mutual undertakings herein.
the parties agree that said Agreement be amended as follows:
1. Section 1. PurDose.
The purpose of this Agreement Is to allow Agency to procure the
services of an experienced professional firm to develop a
long-term financial plan for each of Agency's redevelopment
prOject areas and to provide other technical assistance In
furtherance of Agency's plans. projects and programs.
2. Section 2. Mission.
Agency hereby retains Consultant for the provision of services
as authorized In writing by the Executive Director of Agency.
Such authorization shall be based on estimates of scheduling and
compensation as shall have been mutually agreed upon by the
Executive Director and Consultant. Services may Include but
need not be limited to those described In Attachment I. IIork
Program. Consultant hereby accepts such responsibility as
described herein.
3. Section 3. Terms.
This Agreement shall commence as of the day and year first above
shown and shall remain In full force and effect for a period of
one year unless sooner terminated as provided herein. The
Executive Director of Agency or his or her designee Is
authorized to extend this Agreement for up to 30 days and
approve line Item adjustments to the Agreement's program bUdget
as long as either of such amendments are upon the same terms and
conditions as specified herein.
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XEROX TIL.ECCIPIIR a. I ??-?'1-??; 77:?? -nl
M 3D .89 15:48 "~ATZ H':U.IS L.A. hu
CCIlY 03 .
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Rede,tJOjllllfJlt AIeIeY ..
4. sectiOn C. Consultlnt RlsPOnslbllltl!1.
LlwrenCI 3. ArclnllUX. 3r., PrIncIpal. Is added to tilt list of
. cCIIIlttld personnll.
5. SectIon (. Oomoensatlon.
.
DurIng th. tel'll of this Agr'lIfnt, Ager.cy shall ply Consultant
on an hourly basIs In accordance with thl schedull descrlbld In
Attachlllfnt II. 8udglt. SaId cOlll/llnsatlon shall bI considered
full and cClllpI.tl rrlllbursellfnt 'or all of Consultant's cost.
assocIated wIth the services provided her.under. The ...Iu
celpensltlon for s.rvlc... IncludIng all Consultant's costs.
under the tltlS of this Agrefllnt. shall not .xc.ed $42.500.00.
6. All other t.1'lIS and condItIons of saId Agrtt.nt shill r'llln In
full forCI and .f'lct.
IN NITNESS NHEREOF. thl Agency and the Contractor. through th.lr
duly authorlZld off1c.rs, hlv, ,xlcuted thIs amendltnt IS of tht dlte
first above wrItten.
APPROVED AS 10 FOIlIl
. AND LE~L CONTENT:
REDEVELOPMENT AGfIlCY OF
THE CITY rs SAN IERNARDINO
BY
"""'"ExecutIve Dir.ctor
APPROVED AS TO PIlOGRAH:
REDEVElQPHOO AGENCY Of
THE em Of SAM BERltARDlNO
CONTRACTOR
BY~4~~
TInE~
BY
Adltntstratlv. O.puty
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Redevelopment Agency
ATTACHMENT I
WORK PROGRAM
The Consultant wIll develop for the Redevelopment Agency of the CIty of
San BernardIno (Agency) a long-term fInancIal plan for Its redevelopment
project areas and provIde other technIcal assIstance In furtherance of
the Agency's plans, projects and programs. Hor~ actIvItIes shall be
accomplIshed In accordance wIth the schedule descrIbed below.
Prlorltv GrouD No. 1
1. VerIfy the Agency's tax Increment revenues (to the extent
records are avaIlable) by analysIs of Agency staff's exIstIng
data base and a sIgnIfIcant sample test on a parcel by parcel
basIs of the secured and unsecured tax rolls for the
redevelopment project areas for the base year and current year.
ThIs process wIll IdentIfy and reconcIle dIscrepancIes between
taxable values exIstIng In the project areas and those values as
reported by the County. Subsequent to thIs verIfIcatIon, the
Consultant shall analyze and prepare tax Increment revenue
projectIons over a fIve to ten year perIod.
2. RevIew all actIve bonded debt havIng prIorIty lIens on the flow
of tax Increment revenue. Prepare a cash flow analysIs
IncludIng IncorporatIon of tax revenue projectIons and a
documented cash flow suItable for general presentatIon.
3. Prepare a wrItten summary of InItIal fIndIngs relatIng to the
accomplIshment of the overall wor~ program descrIbed hereIn
(completed on May 30, 19B9).
The above three tas~s shall be completed by July I, 19B9 at a
cost not to exceed $25,000.
Prlorltv GrouD No.2
1. RevIew Agency staff's June 19, 19B9 response to Consultant's
InItIal fIndIngs and consult wIth and revIew addItIonal
InformatIon to be made avaIlable from the staff of the Agency's
AccountIng and Development DIvIsIons and assess balance of work
necessary to contInue completIon of the Agency's long-term
fInancIal plan. Based upon thIs assessment, the Consultant
shall provIde an updated report relatIve to the InItIal fIndIngs
submItted to the Agency on May 30, 1989, and cost estImates
relatIve to the balance of the planned wor~ assIgnments
contaIned hereIn.
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Redevelopment Agency
Services provided pursuant to this work task shall be completed
by July 15, 1989 at a cost not to exceed $2,500.
2. Review and assess all active development agreements relative to
their liens against the flow of tax Increment funds. Update the
cash flow analysis which was prepared under Item #2 of Priority
#1 to Include these junior lien data. The cost and scheduling
of this work task shall be as mutually agreed upon sUbsequent to
the completion of work task #1 of this second priority groupin9.
3. Preparation of a financing plan/bond plan for each project area
that will either eliminate cash and scheduling flow shortfalls
or generate additional financing opportunities. The cost and
scheduling of this work task shall be as mutually agreed upon
subsequent to the completion of work task #1 of this second
priority grouping.
4. Provide financial advisory services to the Agency for new bond
Issuances or for the refundIng of outstanding bond Issues on an
as needed basis (currently estimated to be three Issuances).
ServIces to be provIded Include document review (verificatIon of
the compatibility between the provisions contained In the
resolutIon of Issuance and the amounts and timing of revenue
receipts), review and analysis of tax sharing agreements which
may Impact the Agency'S ability to pledge tax Increment revenue,
attendance at any meetings related to bond Issuance, and
representation of the Agency In meetings with bond rating
agencies and bond Insurance companies. Services provided for
this activity shall be at a cost not to exceed $5,000 per
Issue. Scheduling of these services shall be as mutually agreed
upon by the parties.
Priority Group No. 3
The work tasks listed below shall be undertaken during the term of the
contract upon a schedule mutually agreeable to the parties. The cost and
scheduling of these work tasks shall be as mutually agreed upon
subsequent to the completion of work task #1 of the second priority
groupIng.
1. Review and recommend necessary adjustments to the Agency's
accounting and financial management methodologIes and systems.
In fulfilling this task, the Consultant may be requIred to .
engage the services of one or more qualified Certified Public
Accounting firms as subconsultant(s) to assist In developing
appropriate recommendations. Such subconsultants must be
approved In writing by the Agency'S Executive Director prior to
the Initiation of any work.
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Redevelopment Agency
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2. Provide assistance In reviewing other related Issues Including,
but not limited to, the following:
a. Potential use of pre-1986 bond proceeds In the furtherance
of Agency programs; and
b. Impact of recent court rulings ordering the reassessment of
railroad property on Agency finances; and
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Redevelopment Agency
PrIorIty Group
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ATTACHMENT II
KATZ HOlLI S
19B9 Hourly Rate Schedule
Principals
Senior associates
Associates
Senior Analysts
Analysts
Research Analysts
Secretarial/Administrative
$120 per hour
$100 per hour
$ BO per hour
$ 70 per hour
$ 55 per hour
$ 50 per hour
$ 35 per hour
BUOGET BY NORK ACTIVITY
Actlvltv No. Cost
1 Included In subtotal
2 Included In subtotal
3 Included In subtotal
Subtotal $25.000
1 $ 2.500
2 To be determined
3 To be determined
4 f15.000
Subtotal 17 . 500
1 To be determIned
2 To be determIned
Subtotal To be determIned
Grand Total $42.500
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XEROX TELECOPIER 295 I ??-??-??l??:????l CCITT 03 +
JlJ'I28 '69 13:35 KAlZ HOLLIS L..A. ~~
1/ 2
P.2/3
EXHIBIT 2
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IJJ)SVILOPJf!HT AGlNCY CITY 0' IAN lI"'''AlUlllfO
COHbACt AMIIInHIItt
6--~A..at Mo. 01
tillS AlfIKDK!Ift' %0 ~ 11&4. tb1. ..,
of . 1M'. ., t:b a.4.,,010pseot Aa-, of clIe Ctt:)' of
Sac larurlllDO. ur.1ufC.r c&ll&4 tile .Aaac,.. ..d lata. BoWo, Cora
'''oOC1&C.o, bnll1&.ftu ca11e4 u. .CoDU'eetu..
IfU'lIISSUIl !Ill! I
l1li'''''1. t:b ".DC, ..el the COIIneecor prcYioual, 8IlCere4 iDCo ...
"1&1u1 Aar_t OIl MArcb 20, 19891 p4
tiIIDLU. 1c - MCClINO 1I.c....Z)' to ,,01l4 .del "reunc D4 \loth
puttoo ar. 40011'0_ of .ucb aaeo4uat.
lOll, TB!U7OU, iD coulel.:rauClll of che autu.l1m4e:rtald..o bl'.iD.
tile pOl'tl.. qr.. tllec eale1 Aa:ro_t lie .......4.4 .e followol
1. S.CUOI1 1. Pllnoae.
!he 'lI1'pOIe Of thh Acl'o..nt s_ CO ellov ".DC,'t:o p:rocue the
"l"Ilc.. of all tzperl.llC.d prof...Sow fll'l1 to 4uel., .
1011&-"3 flll81ldel ploll fol' oeeh of AleDC,'. :r~e1ope..t
project .ru_ p4 to provide eth.:r techlllcl1 ...Uuac. b
fUl'ch.:rallcO of "'DC,' _ plau, proj.ct. &ll4 pro.......
2. SecUOD 2. lUa_SOll.
.l.aey h.:reby nU1ll. Coo_lllt..t to:r th. Pl'oviOSOII of .erneoo
.. &utborh.cl !D. wr1tlll. by the laocutl"e Dlrecto:r of .....,.
Such euthorSaotioD _h&11 bo be..d Oil ..tl..t.o of ocba4u11D1 &D4
coapeuatl011 .. .haU bave II.. IIIltuaU, 0'1'..4 UpoII by t:he
l:.cUt:l"o 1l1lr.ctor ao4 COMllleut. Sorviceo _, 1DClu4. \lot
ueel DOC 110 11l11c.4 to cbooo deac:rilleel 1ll .lttac:llllnt 1. Work
':0'1''', COllollltaat lIe:.1I1 .cceptl .1Icll ro.poll.U.Ult, ..
4eecdbe4 huUD.
.s.
SccUoo 3. '1'0_.
'1'UI Acreoant ahall C_DCe at of cho d.,. a= ,...1' Ur.t .bo"o
.bow &Il4 lhall 1'_10 ~D full fuca &Del affect for . ,.1'104 ot
ou YO.I' UIll... .00Der t.~lD&tad .. provld.. urate. 7:1ao
E..cutl"o D1rectol' of AlaDC,. 01' 1110 Dr lit.. '..ta... 18
authod.ee1 to pted thi_ AIr_DC 'Dr up ~D 30 4.,.. c4
app:rove lba ltaA adjuataellta 1'0 tb Aan_at'l ~I'o,l'aa kda.t
.0 lena OIl aithor of _..ell ........llU .re UJlOll tllo .... t.n. .04
coDd1tloOl .. .p,clf1c4 hal'a111.
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l<ERC)K TEl..ECllPlER 295; ??-??-??,??????,
JUi 2S '89 13':36 KATZ HOU.IS L..A.
celTT 03 ..
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f=lA"'AA{~~ffi
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4. "eUOll 4. Couultallt .a'~OIItilolliCill..
Law_e J. Afe_US, Jr., 'Ulldpal, 1. &44e4 h eha lht of
collll1 teed pel'loaae1.
5. 'lIet1= 6. C_IleUIIUOtI.
Dlirlq the cera of thl. .'"IlUllC, A,eall7 .11 ,., c-ultlllt
011 &ll bour17 N.l' ill accorduca w1th the tcWlIla 4alcl'ille4 ill
Att'.'Dt U, Ju4,e,. 'aU c_e_dOll .1IaU .. cOll.14ere4
full aU COIlpl.ta rl1a1:lur''''llt fol' aU .f CoDllultlllt'a eo.t.
...odec.d cth the acme.. '1'0Y14e4 hu.a4ar. %U"z1aua
cOIIpea.at1n fOl' ""UII. 1ulu4tlll aU Couu1tat'. coat.,
w:adu the e.1'U of eM. 411'.....'. aha11110t uoa.4 *12,500.00.
6. AU othlll' elll'8l l1li4 e0Dd1Uou of Hld "'r_e .hell 1'...11> 111
full forell aU .tfact.
IN mMSS lIlDI01, the AaIDe)' ucI the CODtrector, tbzw.ll thelr
duly .uthodud offte.re, have a.euted tlth _duet .. .f th. elate
ftl'at .hov. 1II:1etall.
AP'-OVID AS %0 lOIH
AHl) u.cw. COJImtl
IDEVItOl'M!KT MBIICY or
m CUT or IAII -v'nllO
JY~
./ A.ellll7 el
n
!Secutlve Dlrectol'
APPlOVID AS fO l'D1It'.JAIfI
lIDlVILOhIMt Miler 0'
m CIty 01 SAlf anvAIJIlRO
IT
MalD1atrath. hput,
lUIS
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Redevelopment Agency
ATTACHMENT I
WORK PROGRAM
The Consultant wIll develop for the Redevelopment Agency of the CIty of
San BernardIno (Agency) a long-term fInancIal plan for Its redevelopment
project areas and provIde other technIcal assIstance In furtherance of
the Agency's plans. projects and programs. Work actIvItIes shall be
accomplIshed In accordance wIth the schedule descrIbed below.
Prlorltv GrouD No.1
1. VerIfy the Agency's tax Increment revenues (to the extent
records are avaIlable) by analysIs of Agency staff's exIstIng
data base and a sIgnIfIcant sample test on a parcel by parcel
basIs of the secured and unsecured tax rolls for the
redevelopment project areas for the base year and current year.
ThIs process wIll IdentIfy and reconcIle dIscrepancIes between
taxable values exIstIng In the project areas and those values as
reported by the County. Subsequent to thIs verIfIcatIon. the
Consultant shall analyze and prepare tax Increment revenue
projectIons over a fIve to ten year perIod.
2. RevIew all actIve bonded debt havIng prIorIty lIens on the flow
of tax Increment revenue. Prepare a cash flow analysIs
IncludIng IncorporatIon of tax revenue projectIons and a
documented cash flow suItable for general presentatIon.
3. Prepare a wrItten summary of InItIal fIndIngs relatIng to the
accomplIshment of the overall work program descrIbed hereIn
(completed on May 30. 1989).
The above three tasks shall be completed by July 1. 1989 at a
cost not to exceed $25.000.
Prlorltv GrouD No. 2
1. RevIew Agency staff's June 19. 1989 response to Consultant's
InItIal fIndIngs and consult wIth and revIew addItIonal
InformatIon to be made avaIlable from the staff of the Agency's
AccountIng and Development DIvIsIons and assess balance of work
necessary to contInue completIon of the Agency's long-term
fInancIal plan. Based upon thIs assessment. the Consultant
shall provIde an updated report relatIve to the InItIal fIndIngs
submItted to the Agency on May 30. 1989, and cost estImates
relatIve to the balance of the planned work assIgnments
contaIned hereIn.
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Redevelopment Agency
Services provided pursuant to this work task shall be completed
by July 15. 1989 at a cost not to exceed $2,500.
2. Review and assess all active development agreements relative to
their liens against the flow of tax Increment funds. Update the
cash flow analysis which was prepared under Item #2 of Priority
#1 to Include these junior lien data. The cost and scheduling
of this work task shall be as mutually agreed upon sUbsequent to
the completion of work task #1 of this second priority grouping.
3. Preparation of a financing plan/bond plan for each project area
that will either eliminate cash and scheduling flow shortfalls
or generate additional financing opportunities. The cost and
scheduling of this work task shall be as mutually agreed upon
subsequent to the completion of work task #1 of this second
priority grouping.
4. Provide financial advisory services to the Agency for new bond
Issuances or for the refunding of outstanding bond Issues on an
as needed basis (currently estimated to be three Issuances).
Services to be provided Include document review (verification of
the compatibility between the provisions contained In the
resolution of Issuance and the amounts and timing of revenue
receipts), review and analysis of tax sharing agreements which
may Impact the Agency'S ability to pledge tax Increment revenue,
attendance at any meetings related to bond Issuance. and
representation of the Agency In meetings with bond rating
agencies and bond Insurance companies. Services provided for
this activity shall be at a cost not to exceed $5,000 per
Issue. Scheduling of these services shall be as mutually agreed
upon by the parties.
Prlorltv Group No.3
The work tasks listed below shall be undertaken during the term of the
contract upon a schedule mutually agreeable to the parties. The cost and
scheduling of these work tasks shall be as mutually agreed upon
sUbsequent to the completion of work task #1 of the second priority
grouping.
1. Review and recommend necessary adjustments to the Agency's
accounting and financial management methodologies and systems.
In fulfilling this task, the Consultant may be required to
engage the services of one or more qualified Certified Publfc
Accounting firms as subconsultant(s) to assist In developing
appropriate recommendations. Such subconsultants must be
approved In writing by the Agency's Executive Director prior to
the Initiation of any work.
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Redevelopment Agency
2. Provide assistance in reviewing other related Issues including,
but not limited to, the following:
a. Potential use of pre-1986 bond proceeds In the furtherance
of Agency programs; and
b. Impact of recent court rulings ordering the reassessment of
railroad property on Agency finances; and
Priority GrouD No.4
1. Carry out any other tasK related to the worK program or mission
of this Contract. In addition, the financial resources
contained In the budget that are allocated to this priority
group may also be used (through a budget transfer approved by
the Agency's Executive Director) to cover the costs of
activities 2 and 3 In the second priority group and 1 and 2 In
the third priority group once their costs are determined.
13525
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Redevelopment Agency
PrIorIty Group
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ATTACHMENT II
KATZ HOllI S
1989 Hourly Rate Schedule
PrIncIpals
SenIor assocIates
AssocIates
SenIor Analysts
Analysts
Research Analysts
SecretarIal/AdmInIstratIve
$120 per hour
$100 per hour
$ 80 per hour
$ 70 per hour
$ 55 per hour
$ SO per hour
$ 35 per hour
BUDGET BY WORK ACTIVITY
Actlvl ty No. Cost
1 Included In subtotal
2 Included In subtotal
3 Included In subtotal
Subtotal $25,000
1 $ 2,500
2 To be determIned
3 To be determIned
4 $15.000
Subtotal $17 ,500
1 To be determIned
2 To be determIned
Subtotal To be determIned
$40.000
Subtotal $40,000
Grand Total $82.500