HomeMy WebLinkAboutR23990A-C Redevelopment Consulting ServicesCONTRACT NO. R23990A,B,& C
PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: APPROVAL OF THREE CONTRACTS FOR REDEVELOPMENT
CONSULTING SERVICES
SUBMITTED BY: DENNIS M. COLEMAN, REDEVELOPMENT/HOUSING FINANCE
MANAGER
DATE: JULY 14, 2005
CONTENTS: REQUEST FOR QUALIFICATIONS FROM KEYSER MARSTON
ASSOCIATES, INC., REASCO, AND ROSENOW SPEVACEK
GROUP, INC.
Recommendation:
By Minute Motion, that the Agency Board:
1) Authorize the award of a contract to Keyser Marston Associates, Inc.
not -to -exceed $30,000;
2) Authorize the award of a contract to Rosenow Spevacek Group, Inc.
not -to -exceed $30,000;
3) Authorize the award of a contract to REASCO not -to -exceed $30,000;
and
4) Authorize the Chairman to execute the above -mentioned contracts.
Executive Summary:
The Agency staff has historically used several types of redevelopment consulting firms _in
order to achieve the goals necessary to be successful in the diversification of the City's
revenue base, the development of housing units, the administration of the Redevelopment
Implementation Plans, and the monitoring and auditing of the tax increment revenues.
Discussion:
The Redevelopment Agency is currently embarked on several projects to ensure that the
Agency is reaching the goals set forth in the various redevelopment plans. The major goal
includes the development of a high -end hotel with a possible time-share element and
complimentary uses, the development of the necessary housing units to meet both the
inclusionary housing needs and the agreement with the Western Center.
G `ROADenn,s CotemantDA TAWPIREPORTStRFO for Redevelopment F,nanse ConswtantS 7 14-05 wpo
Staff Report
Approval of Three Contracts for Redevelopment Consulting Services
Page 2
July 14, 2005
We are also at the point where we have to review the components of our tax increment
revenue. The Agency is now receiving tax increment revenue in the mid $65 million range,
with overall revenue exceeding $70 million. Periodically, new projects are not accurately
reflected on the property tax rolls resulting in a loss of revenue. It is a good practice to
periodically have the tax rate areas reviewed by an outside source to ensure their
accuracy, so that we know we are getting our proper revenue.
The Agency doesn't have the luxury of having the types of individuals on staff who can
carry out these tasks. These individuals are highly specialized in nature, but not diversified
enough to fill the other roles necessary in the day-to-day operations of the Agency. We
have always kept a lean profile in staffing, and continue to do so when compared to other
redevelopment agencies with comparable revenues throughout the State.
Staff issued a Request for Qualifications (RFQ) to five redevelopment consulting firms in
June. The intent was to form a pool of complimentary firms to use on an as -needed basis
to assist the Agency in the structuring of complex development deals with tremendous
financial implications on both the investment of Agency resources, and to attract revenues
both to the Agency and the City. We also wanted to have a pool of advisors to assist us
with the requisite expertise in the development of the necessary housing units in an
expensive real estate market in which available land is rapidly disappearing.
Staff received three responses to the RFQ from the following firms: Keyser Marston &
Associates (KMA); REASCO; and Rosenow Spevacek Group, Inc. (RSG). Staff has
reviewed the qualifications of each firm and feels that all three firms would be ideal for the
type of consulting pool that we would need to assist us in the endeavors that we are
currently undertaking. They would give us the strategic, administrative, and the
quantitative expertise needed to assist us. These firms would be used on an as -needed
basis. More substantial engagements would require specific proposals and separate
contracts.
The mix of recommended firms provides a full spectrum of complimentary and, in some
cases, overlapping expertise ranging from redevelopment administration advisory services
that RSG has performed historically, financial analysis services as provided by REASCO,
which effectively acts as an adjunct to staff; and, the redevelopment, real estate, housing,
transactional and market advisory capabilities of KMA. This mix of advisory services is
warranted given the size of the Agency, its volume of activity, and the sophistication of its
projects.
G'RDA1Dennis COteman'DA TAiWPtREPGRTS'RFO for Redevelopment Finance Consuttants 7 14-05 wpd
Staff Report
Approval of Three Contracts for Redevelopment Consulting Services
Page 3
July 14, 2005
Staff is recommending that the Redevelopment Agency Board approve the contracts for
the above -mentioned firms.
Submitted By:
Dennis M. Coleman
Redevelopment Finance Manager
DMC:mh
Approval:
Carlos L. Orte
Executive Director
Department Head:
David Yri W
Directoredevelopment
Paul S. Gibson
Director of Finance/Treasurer
G �RDA%Dennis ColemanDATAWRREF'DRTS�RFO for Redevelopment Finance Consultants 7-14.05 wpd
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PROPOSAL FOR
REAL ESTATE AND FINANCIAL
CONSULTING SERVICES
Submitted to:
PALM DESERT REDEVELOPMENT AGENCY
Prepared by:
Keyser Marston Associates, Inc.
JUNE 2005
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PROPOSAL FOR
REAL ESTATE AND FINANCIAL
CONSULTING SERVICES
Submitted to:
PALM DESERT REDEVELOPMENT AGENCY
JUNE 2045
Prepared by:
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KEYSER MARSTON ASSOCIATES, INC.
500 South Grand Avenue, Ste. 1480 55 Pac�c Avenue Mall 1660 Hotel Circle North, Ste. 716
Los Angeles, CA 90071 San Francisco, CA 94111 San Diego, CA 92108
2131622-8095 415/398-3050 619l718-9500
Fax: 213/622-5204 Fax: 415/397-5065 Fax: 619/718-9508
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TABLE OF CONTENTS
PARTI — FIRM SUMMARY ........................................................................................................1
A. COMPANY BACKGROUND ..........................................................................................1
PARTII — RELEVANT EXPERIENCE .........................................................................................2
A. REAL ESTATE ADVISORY SERVICES .........................................................................2
B. REDEVELOPMENT ......................................................................................................3
C. HOUSING .....................................................................................................................4
PART ili — SAMPLE REPRESENTATIVE PROJECTS ...............................................................5
PART IV — PROJECT TEAM AND HOURLY RATES .................................................................7
A. STAFFING AND RESOURCE AVAILABILITY ................................................................7
PART V— HOURLY FEE SCHEDULE ........................................................................................9
PARTVI — REFERENCES ........................................................................................................10
Attachments
1.
2.
3.
4.
Grover Beach Market Area Analysis — Hotel and conference/meeting facility
Chino Hills Residual Land Value Analysis
Brea Redevelopment Agency 33433 Reports
City of Anaheim 33433 Reports
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PART I — FiRM SUMMARY
� A. COMPANY BACKGROUND
rOverview
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Keyser Marston Associates, 1nc. (KMA) is a multi-disciplined real estate and economic
consulting firm, with a staff of over 45 employees. Founded in 1973, the firm has offices in Los
Angeles, San Francisco and San Diego. KMA serves a diverse client base throughout the
western United States, including local cities and redevelopment agencies, transit agencies, and
county and state govemments, as well as large scale institutional clients, and property owners.
The Los Angeles office provides consulting services to a wide range of govemmental agencies,
including redevelopment agencies, cities, school districts, colleges and universities and transit
agencies in both Northem and Southem Califomia, as well as a select number of private sector
firms. The firm's redevelopment agency economic consulting practice is the largest in the state,
with the Los Angeles o�ce representing over 50 communities. Current Rive�side County clients
include Cathedral City, Indian Wells, Moreno Valley, Palm Springs, Rancho Mirage, and the City
of Riverside.
Uniquely, KMA combines its real estate advisory services with a range of financial and
redevelopment planning services, including the redevelopment plan adoption and amendment
services, tax increment projection and verification fiscal consultant services, projection of public
revenues, fiscal impact analyses and economic analyses of altemative land use options. This
integration of disciplines allows extremely cost effective coordinated services for our
redevelopment clients. In addition to redevelopment assignments, KMA has assisted
public/private transactions where redevelopment toois were inappropriate or not available.
KMA's services fall within the following general areas:
• Real Estate Advisory Services
• Redevelopment Plan Adoption and Finance
� Affordable Housing
• Economic Development and Business Improvement District
• Valuation and Litigation Support
• Fiscal lmpact Analysis
� Proposal for Professional Services Keyser Marston Associates, Inc.
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' PART II — RELEVANT EXPERIENCE
� A. REAL ESTATE ADVISORY SERVICES
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KMA provides a full range of real estate services to its public sector clients. The use of market
demand analyses and pro forma financial anaiyses to evaluate the financial feasibility of a wide
range of projects is a strength of KMA. Financial feasibility analyses are typically geared toward
providing KMA's public sector clients with a perspective on the private sector development
economics for proposed projects. This is often a key factor in identifying the need for public
assistance. Disposition consulting services cover a broad spectrum, in which KMA assists
clients in the disposition of real estate holdings. KMA has also taken an active role in the
negotiation's process leading to numerous DDA's and OPA's. A description of real estate
consulting services is included below.
� • Feasibility Assessrr�ent - KMA has undertaken real estate feasibility studies for clients
ranging from institutiona{ investors, to department stores, to numerous public agencies.
While the purpose of these studies varies considerably, the essence is to identify the
� basic demand for the use being tested, an essential component in the decision making
process. The Los Angeles office has undertaken numerous commercial, retail and
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housing marlcet opportunity assessments, and has assisted redevelopment agencies in
the identification of mid- to long-term redevelopment strategies. Such analysis has
included numerous assignments in support of specific plan activities.
Financial Evafuation - The use of pro forma financial analyses to evaluate the financial
feasibility of a wide range of projects is a strength of KMA. These financial feasibility
analyses are typically gea�ed toward providing KMA's redevelopment agency clients with
a clear perspective on the private sector development economics for proposed projects.
This is often a key factor in identifying the need for and extent of public assistance. Land
uses within our expertise incfude hotel, office, a11 forms of retail, industrial, airport-related
commercial, market rate and affordable housing, auto deafership, and sports and
convention center uses, among others.
• Disposition/Owner Participation Consulting - This service covers a broad spectrum,
in which KMA assists clients in the disposition of real estate holdings. These services
include preparation of developer solicitation documents, developer selections and
reviews, participation in developer or owner negotiations, and analysis of pending
agreements. KMA has taken an active role in the negotiation process leading to literally
hundreds of DDA's and OPA's. Financial structuring has included the use of Mello Roos
financing, parking revenue bonds, Certificates of Participation, Section 108 loans, BEDI
and EDI Grants and loans, and developer advances. A particular expertise is the
negotiation of ground leases between public and private sectors. Examples include the
Hollywood Highland ground lease with the MTA, the Citadel in Commerce, a proposed
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high tech industrial park at Cal Poly State University, Pomona, and various commercial
leases at the Torrance airport.
Reuse Reports and Summary Reports - KMA's real estate experience is used in the
analysis and preparation of reuse reports required under Health and Safety Code
Section 33433.
Fiscal Impact Analysis - As a full service land economics consufting firm specializing in
real estate predevelopment and evaluation services, KMA has developed extensive
experience in fiscal/economic impact analysis in the assessment of revenue and cost
impacts to be generated by proposed devefopments or implementation of plans. The
analyses evaluate both capital and annual on-going revenue and service cost impacts,
as well as an evaluation of employment and income effects. Additionally, KMA has
completed a number of assignments evaivating the financial consequences of public vs.
private ownership of public facilities including recent assignments for Mission Viejo and
the County of Los Angeles.
Economic Benefit and Site Specific Revenue Analysis -As a full service land
economics consulting firm specializing in real estate predevelopment and evaluation
services, KMA has developed extensive experience in fiscaVeconomic impact analysis in
the assessment of revenue and cost impacts to be generated by proposed developments
or implementation of plans. The analyses evafuate both capital and annual on-going
revenue and service cost impacts, as wefl as an evaluation of employment and income
effects. KMA has provided s9te-specific revenue analyses for a number of significant
projects including the Hollywood/Highland project and the Disney Grand Central Creative
Campus.
REDEVELOPMENT
Redevelopment Plan Adoption Services - KMA has been lead consultant in providing
full plan adoption/plan amendment services and has also provided specific services
encompassing financial feasibility analysis, blight study, and taxing agency consuitations.
Since AB 1290 passed in 1993, KMA's plan adoption staff has completed over 30
redevelopment plan assignments. KMA is available to assist the Agency with specific
tasks or can provide full administrative and coordination services to complete a11 legal,
technical, and procedural requirements for adoption and amending redevelopment plans
under the California Community Redevelopment Law. KMA is also available to provide
the Agency with advisory services related to project area formation and amendment.
Prior to providing redevelopment plan adoption services, KMA meets with clients to
review objectives and provide a strategy or specific recommendations to expedite the
often long and complicated adoption process. KMA's expertise and knowledge of the
Cafifornia Community Redevelopment Law will be used to assist the Agency with
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determining what types of amendments are most feasible and advantageous to the
Agency and to the objectives of the redevelopment project area.
Redevelopment Financial Services - Financial services include tax increment
verification and projections, assessment appea4 monitoring, and fiscal consultant
services in support for tax increment bond financing.
HOUSING
• Inclusionary Housing - For the Cities of Pasadena, Brea, Newport Beach, San Jose,
Huntington Beach and Oxnard, KMA has analyzed the financial impact associated with
requiring private sector residential developers to set-aside units for very-low, low and
moderate income households. The KMA analyses quant�ed the net economic detriment
created by the inclusionary requirement, after consideration of the beneflts associated
with various incentives being offered by the City. The KMA analysis evaluated the
financial impacts on both rental and ownership housing. KMA assisted the cities in
drafting the ordinances and implementation documents; and participated in the public
� heacing approval process. Several cities have engaged KMA to assist in the
development of inclusionary housing programs tailored to local economic conditions.
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Market and Financial Analysis of Projects with Affordable Housing Component -
KMA prepares market and flnancial analyses that result in identifying an appropriate
level of agency participation in a project. We evaluate the impact of burdens and
incentives on affordable housing programs and advise on all aspects of project financing,
including the use of low income housing tax credits, CHFA, HUD, and Federal Home
Loan Bank programs.
Prepare Affordable Housing Strategies and Implementation Plans - KMA helps
redevelopment agencies prepare plans for using 20% set-aside monies and federal
funding sources. KMA has extensive experience in creating housing programs that
balance available resources among housing types and various income groups. ,
Prepare Nexus Studies for Housing Linkage Fees - KMA is expert in preparing nexus
studies that establish development fees to fund the construction of afFordable housing.
Past KMA studies have aided major Califomia jurisdictions with these programs. We
pa�ticipated in the precedent-setting Sacramento case reviewed by the U.S. Supreme
Court. These experiences make KMA uniquely qualiiied to prepare and assist in
defense of these programs.
• Assess Developer Qualifications - KMA has assisted cities in the evaluation and
selection of developers for affordable housing projects. The evaluation typically includes
a thorough review of the developer's track record, financial strength, management
company, and development team.
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PART if! — SAMPLE REPRESENTATlVE PROJECTS
Below are descriptions of selected projects invoiving relevant real estate, housing and
redevelopment analyses that KMA has performed for public clients in Riverside County.
� Project: Economic Development Strategy
Client: City of Rancho Mirage
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Keyser Marston prepared an economic devefopment plan which identified; (1) the City's goals
refated to its economic position in the rapidfy growing Coachella Valley; (2) economic strategies;
and (3) specific projects for implementation. Additionally, we assessed the fiscal and financial
implementations of the economic development strategy in terms of public implementation costs
and city revenue base impacts. An implementation program was recommended.
� Project: Downtown Riverside Retail Entertainment Strategy and Action Pfan
Client: City of Riverside
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KMA comp{eted an evafuation of a range of retail/entertainment concepts for the reuse of the
former Fox Theater and three other priority properties in terms of parking, potentia! for linking
and reinforcing existing retail, visibility, and market and financial feasibility. Land uses
considered were a cinema, performing arts, loft housing and various types of retail and
restaurants. An action plan and implementation steps were recommended.
Project:
� Client:
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Downtown and North Main Street Specific Plans
City of Corona
KMA assisted planners, Urban Design Studio and PBR in analyzing market, financial, and fiscal
issues related to Specific Plans for the downtown and North Main Street areas of Corona,
respectively. A broad range of residential, commerciaf, and entertainment uses were under
consideration. A key centerpiece of the proposed redevelopment program involved a
performing arts center, Fender Guitar Museum, and �elated hotels and e�tertainment uses.
Additionally, KMA's study addressed app�oaches for infrastructure �nancing and economic
development.
Project: The Meadows Mobile Home Park Values
� Client: Riverside Redevelopment Agency
� KMA performed a preliminary assessment of mobile home park values through a survey of
operational expenses and land sales.
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Project: Redevelopment Plan Adoption and Merger
Client: City of Indio, lndio Redevelopment Agency
KMA assisted the City of fndio with the merger of two existing redevelopment projects within the
� City and the additian of over 2,800 acces to cceate a merged project area. The merged
redevelopment project assisted the City in achieving its goal of supporting the development of
� new industrial and commercial businesses, creating jobs, and alleviating stagnant business
conditions within City boundaries. KMA's secvices included performing an initial feasibility study
to evaluate whether the territory to be added would meet the blight and urbanization
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requirements in the redevelopment law. Subsequent services included project coordination,
schedu4ing, preparation of al! key documents (redeve4opment plan, preliminary report and report
to city council), blight analysis for both the added area and the existing projects, and preparation
and coordination of the EIR.
Project: Affordable Housing Strategy
Client: City of Cathedral City
The City of Cathedral City embarked on a downtown revitalization program that includes a civic
center, a retail/entertainment mixed-use project and a mix of market rate and affordable
housing. In addition, the redevelopment agency incuRed a large deficit in terms of ineeting the
� inclusionary housing requirement imposed by California Health and Safety Code Section 33413.
� The affordable housing strategy created by KMA recommended new development activities in
� the downtown, acguisition/rehabilitation activities on a citywide basis and the purchase of
cavenants on existing affordable housing projects to meet the legal requirements as well as the
policy goals and objectives.
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Project: Fair Market Value, Riverside Airport Industrial Redevelopment Project
Client: City of Riverside
KMA estimated a fair market value of a 4.15-acre parcel to be ground leased to a developer for
construction of a postal service facility. We also provided an estimate of the land value under
the redevelopment plan.
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PART IV — PROJECT TEAM AND HOURLY RATES
A. STAFFING AND RESOURCE AVAILA8ILITY
KMA's Los Angeles office is headed by five principals: Mr. Calvin E. Hollis, Ms. Kathleen H.
Head, Mr. James A. Rabe, Mr. Paul C. Anderson and Mr. Greg Soo-Hoo, af( supported by 10
technical staff. Each principal has a broad background in ali aspects of real estate consuiting,
and each has a specific area of specialization related to their education, experience and
interest. KMA's principals are frequent speakers to industry groups including the Urban Land
Institute, Intemational Council of Shopping Centers, League of Cities, California Community
Redevelopment Association, and other similar organizations. KMA's principals have served on
the Governor's Task Force on Military Base Reuse, and have advised both the California
Legislature's Committee on Economic Development and the Cali%mia Redevelopment
Association (CRA).
The following KMA Los Angeles staff inembers will provide the services required under the RFQ.
More detailed resumes for select staff members follow.
Mr. James A. Rabe is a Principal with the Los Angeles office, who has over 25 years of financial
and real estate consufting experience. He provides KMA with public finance, development
strategy, developer selection and. deal structuring capabilities. He has been involved in the
analysis and implementation of public/private residential, retail, industrial, office and mixed-use
projects in California and Arizona. For these projects, he has created innovative public
assistance programs, which provide necessary assistance yet protect the interests of the public
agency. Mr. Rabe has been involved in the negotiation of development agreements, owner
pa�ticipation agreements and ground leases for office, retail, hotel, apartment, industrial and
mixed-use projects, and parking facilities. He has also assisted in the project planning, Request
for Proposal and Qualification process, and developer selection process for surplus properties
and redeve{opment projects for public agencies.
Mr. Calvin Hollis. Managing Principal of ihe Los Angeles office, has provided real estate ..
consulting and financial consulting services for California redevelopment agencies since 1973,
and joined KMA in 1982. Mr. Hollis is a recognized authority in public private transactions,
including use of public financing strategies in support of such projects. Mr. Hollis was selected
by the Community Redevelopment Agencies Association as a member of the technical advisory
committee to draft the AB 1290 redevelopment legislation and the recent SB 211 legislation, and
continues to advise the Association on legislative matters. Mr. Hollis is also a member of the
Urban Land Institute, and a member of its publicJprivate development council and is a Board
Member af the Los Angeles Economic Development Corporation. Mr. Hollis has substantial
experience in structuring complex estate development projects.
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Ms. Kathleen Head, a Principal with the Los Angeles office, has advised clients on affordable
housing, economic development and real estate assignments since 1983. Ms. Head has
assisted redevelopment agencies on a wide variety of housing and real estate developments.
This has included negotiations invoiving land disposition terms, participation agreements, and
public assistance packages, with'particular emphasis on the use of tax exempt housing
financing, tax credits, and various other state and federal programs for affordable housing. Ms.
Head is a member of the Community Redevelopment Agencies Task Force on Affordable
Housing and an instructor for the CRA Institute in Affordable Housing.
� Mr. Gre4 Soo-Hoo, a Principal with the Los Angeles office, will provide project management for
any fiscal and financial consulting assignments. Mr. Soo-Hoo has over 15 years of experience
in redevelopment and public finance. Mr. Soo-Hoo is experienced in the preparation of tax
� increment revenue and cash flow analyses and has participated as financial consultant in the
preparation of tax increment revenue and cash flow analyses and has participated as financial
� consultant in the preparation of tax increment revenue projections for nearly 40 bond issues
totaling nearly $900 million. Mr. Soo-Hoo has assisted redevelopment agencies in providing
technical assessed valuation analyses, the preparation of tax increment revenue projections for
� a variety of redevelopment project areas and the State reporting requirements for
redevelopment agencies.
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Mr. Paul Anderson, a Principal with the Los Angeles office, has over 10 years of experience in
redevelopment consulting in both the public and private sector. Mr. Anderson has extensive
experience in managing and directing redevelopment plan adoptions and amendments
throughout California. His areas of expertise range from preparing analysis of existing
conditions (blight anaiysis) to working with communities including the formation of project area
committees (PACs). Prior to joining KMA, Mr. Anderson managed plan adoption services for the
firm of Katz Hollis.
Mr. Kevin Enqstrom, a Manager in the KMA Los Angeles office, provides and coordinates real
estate market feasibility and financial feasibility services. Mr. Engstrom has assisted numerous
public agencies with a full range of services relating to hotel development, strategic planning,
market analyses, ground leases, reuse analyses, highest and best use studies and developer
selection services. '
Ms. Julie Romev, a Manager in the KMA Los Angeles office, provides advice to clients on
affordable housing, economic development and real estate assignments. Ms. Romey has
performed market and economic feasibility, tax allocation, land disposition and reuse analyses
for hotel, residential, retail and office projects in both Los Angeles and San Diego. She has also
had experience in military base conversions, affordable housing p�ograms and corporate real
estate.
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ItE�i'SER MARST0�1 .�-1 �SOCIATES I I�C.
JAMES A. RABE
Mr. Rabe is a principal in Keyser
Marston's Los Angeles office. For
more than 20 years he has provided
public and private clients with real
estate and financial expertise.
Key Role
Mr. Rabe assists clients in
public/private real estate and
economic development activities
from KMA's Los Angeles office. He
provides public and private sector
clients with services in the following
areas: project feasibility, public
finance, economic development,
fiscal impact, financial modeting,
developer selection, deal structuring
and transaction negotiation.
PubliclPrivate Development
Specfalist
Recognized as an expert in real
estate advisory services, Mr. Rabe
specializes in publiclprivate
transactions. Examples include the
Anaheim Garden Walk, Huntington
Beach Resort and Spa, South Poway
Industrial Park and the Riverpark
master planned community in
Oxnard. He has participated in the
analysis and implementation of
residential, commercial, hotel, o�ce
and mixed-use projects throughout
Califomia.
Professioaal Credentials
Mr. Rabe is a board member of the
California Association for Local
Economic Development, and a
member of the Califomia
Redevelopment Association, the
Intemational Counci( of Shopping
Centers, the Urban Land Institute,
and the International Economic
Development Council. Mr. Rabe is a
counselor of Real Estate. He has
served as a Resource Professional
for the Urban Land Institute,
California Redevelopment
Association and Califomia
Association for Local Economic
Development. He is President of the
Verdugo Hills Boy Scout Council.
Mr. Rabe earned his master of arts
from the University of Southern
Califomia, and his bachelor of arts
from the University of California, San
Diego.
Other Areas of Specialization
Mr. Rabe has consulted in all areas
of the disposition process for
redevelopment projects and surpius
properties for public agencies,
including pro�ect planning, Requests
for Proposals and Qualifications, and
developer selection. He has also
served as financial advisor, special
tax consultant or developer's advisor
for bond issues in Califomia. He has
also prepared implementation
strategies for specific plans and
revitalization plans.
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KEYSER M ARSTOI�T A SS�CIATES I I�C.
CALVIN E. HOLLIS
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Mr. Hollis is a managing principal
with Keyser Marston Associates, Inc.
(KMA} and manager of its Los
Angeles office. Since joining KMA in
1982, Mr. Hollis has provided public
and private clients with real estate
analysis, and with expertise in �etail,
office, and hotel development.
Key Role
Mr. Hollis has played a major rde
in structuring development
agreements in Commerce,
Glendale. Long Beach, Los
Angeles, and Pasadena.
Assignments include Ho!lywood
and Highland Project, developed
by the TrizecNahn Company, the
Glendale Town Center, the Pike in
Long Beach, and Paseo Colorado
in Pasadena.
Specialization
At Keyser Marston, he specializes in
advising c(ients in fhe structuring of
public and private projects, including
jant development agreements and
ground leases. This experience
inGudes development projects at Cal
Poly, Pomona, Calitornia State
University Fresno, and due diligence
assignment from the California State
University Chancellor's office.
Other Areas of Specialization are:
Pubtic Finance
Mr. Hollis is currentiy advising clients
in creative use of public financing in
jant developments, including the Los
Angeles Air Force Base Project in
Hawlhorne and the Metro Center in
Santa Cruz.
Redevelopnrent Finance and
lmplementation, Community
Revitalization, Economic
Developmenf, and Business
lmprovement District (BIDs)
Revitalization Strategies
Mr. Hdlis has advised
redevelopment agencies for over
twenty years. His expertise includes
strategic financial planning and
impiementation.
Professional Credentials
Mr, Hollis is a member of the
Urban Land Institute and special
advisor to the Caiifornia
Redevelopment Association. He
has conducted seminars and
addressed conferences sponsored
Dy the Urban Land Institute (where
he is a member of the
Public/Private Development
Council), California
Redevelopment Association,
National League of Cities,
California Department of
Commerce. UCLA and simitar
aganizations, and is also a
contributing author of
Redevelopment in California, a
definitive reference book on the
subject, Mr. Hollis is a member of
the Board of Directors of the Los
Angeles Economic Development
Corporation and the Pasadena
Educational Foundation. Mr. Hollis
is a graduate of the California
State University, Los Angeies.
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��HL�EN H. H�AD
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Ms. Head is a principal in Keyser
Marston Assoaates' Los Angeles
office. She joined KMA in 1983. She
has analyzed a broad range of rea!
estate issues (or both public and
private sector clients.
Key Role
Ms. Head manages all housing
related services for KMA clients in
Las Angeles and is an authority on
affordable housmg. Her experience
combined with strong technical skills
provide her with a unique ability to
wak through conceptual policy
issues, as well as to structure
complex publicJprivate Vansactions.
Affordabie Housing Specialist
Ms. Head has been insVumental in
creating strategic plans to fulfill
clients' affordable housing production
objectives, and assisling in
implementing these plans by
structuring transactions that are both
marketable and (inancially feasibie
ulilizing tax exempt financing and low
income housing tax credits, as well
as tocal, state and federal assistance
packages.
Professional Credentials
Ms. Head is a member of the
California Redevelopment
Association Housing Task Force and
is an instructor at the biannuai
Redevelopment Institute. She has
been a featured speaker at the
National Association of
Redevelopment and Housing
OKcials Annual Conference, the
CRA Affadable Housing Workshops
and the Southern Section of the
California Bar Association. Ms Head
hdds masters' degrees in business
administration and urban planning,
as well as a bachelor's degree from
the University of California, Los
Angeles.
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Other Areas of Specialization are:
Retail
Ms. Head has undertaken retail
market opportunities evaluations for
public agencies and for private sector
clients such as Aetna Realty
Investors, Yarmouth and May
Department Stores.
Sports/EntertainmenURetai/
Ms. Head has assessed the financial
feasibility of sports arenas in Los
Angeles and San Diego, and
assis4ed in developing public
financial assistance packages for
these and other prqects.
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K E�'SER
GREGORY D. SOO-HOO
I�I ARSTON f� SSOCIATES
Mr. Soo-Hoo is a principal in Keyser
Marston Associates' Los Angeles
office. Mr. Soo-Hoo joined KMA in
1991 and has over 20 years of
experience as a consultant to
Califomia redevelopment agencies
and serving in the public sector at
the County of Los Angeles.
Key Role
Mr. Soo-Hoo has managed
redevelopment tax increment
services for KMA clients. These
services include long range
projections of redevelopment project
area taxable values and tax
revenues, estimation of assessment
appeal valuation and tax refund
impacts, preparation of agency
financia! reports and redevelopment
plan adoption and pian amendment
financial feasibility studies. Mr. Soo-
Hoo is also experienced with local
government finance having worked
with the Los Angeles County Chief
Administrative Office as a
redevelopment and budget analyst
for six years.
Fiscal Consultant
Mr. Soo-Hoo has been a fiscal
consultant assisting redevelopment
agencies in the issuance of tax
allocation financings totaling nearly
$2 billion. He has managed a wide
range of fiscal Consulting services
including the verification of
redevelopment project area taxable
values, review of hisioric valuation
patterns, identification of major
property owners, determination of
assessment appeal impacts, and the
projection of current and future year
tax increment revenue flow. Mr. Soo-
Hoo has also assisted bond
underwriting teams in the preparation
and review of bond offering
documents and has been an active
participant in presentations to bond
insurance and bond rating agencies.
Financial Feasibility Studies
Mr. Soo-Hoo specializes in the
preparation of financial and
economic feasibility analyses
required for the adoption or
amendment of redevelopment
project areas. The analyses typically
consist of a multi-year comparison of
tax increment and other revenue
resources vis-�-vis anticipated
capital improvement
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and �edevelopment Q�og�am costs.
Economic feasibility models have been
incorporated in all plan adoption or
plan amendment Reports to Council
prepared by KMA. On-going cash flow
services have been provided to the
various redevelopment agencies
including Brea, Long Beach and
Glendale.
Assessed Valuation Services
The assessed valuation services Mr.
Soo-Hoo has provided to cities and
redevelopment agencies include
review of assessment appeal filings
and an estimation of fiscal impacts to
local taxing entities, parcel by parcel
verification of base year and current
year assessed values and the
identification of misallocation of annual
tax revenues. The assessment appeal
analyses have also been
supplemented with estimations of site-
specific values to project the likelihood
of future reductions in assessed
values due to appeals.
Financial Reporting
Mr. Soo-Hoo has assisted agencies in
the preparation of annual disclosure
repo�ts required to bond rating
agencies on agency valuation impacts
and changes. Mr. Soo-Hoo has also
assisted redevelopment agencies with
compliance reports required under
State law.
Professional Credentials
Mr. Soo-Hoo has conducted
Redevelopment Institute financial
training courses sponsored by the
California Redevelopment Association
and UCI,A Extension program.
He is a graduate cumlaude of the
University of Southem California and
holds a master's degree in public
administration, with a specialization in
public finance.
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KEYSER 1V�.�RSTON � SSOC;IA 1 ES I\ C.
0
PAUL ANDERSON
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Key Rols
Oversees KMA's redevelopment
effort in Southem California. His
background in planning and urban
design provides specialized
insights into the redevelopment
adoption process.
Specialization
Redevelopment Specialist
Mr. Anderson's work experience in
advance planning for the City of
Manhattan Beach, redevelopment
plan adoption for the Los Angeles
Community Redevelopment
Agency, and urban design for a
private sector design firm in San
Francisco makes him uniquely
qualified to assist cities in their
redevelopment efforts.
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Mr. Anderson is a principal at
Keyser Marston Associates' Los
Angeles office. Prior to joining
KMA, Mr. Anderson managed
plan adoption services at Katz
Hollis. Mr. Anderson has over 15
years of experience in
redevelopment, land use planning
and urban design.
Mr. Anderson has extensive
experience in managing and
directing redevelopment plan
adoptions and amendments
throughout California. He is
experienced in all aspects of plan
adoption services and providing a
full range of plan adoption
services, as well as preparing
technical documents, providing
ongoing staff support to clients,
working with community groups
and the formation of Project Area
Committees (PACs).
Mr. Anderson has assisted in the
adopiion and amendment of broad
range of large complex projects
including the adoption of the
12,000-acre North Long Beach
Redevelopment Project and the
merger of seven redevelopment
projects in the City of Seaside. He
has assisted in the adoption of
many small and specialized
projects including the Olivehurst
Community Plan in Yuba County
and the Flood Control Disaster
Project for the Cify of Rosevitfe.
Professional Credentials
Mr. Anderson received his
bachelor's degree in architecture
from the University of Southern
California and is a member of the
American Planning Association.
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K E�'SER 11�I ARSTON ASSOCIATES I I�IC.
KEVIN ENGSTROM
Manager
Mr. Engstrom joined Keyser Marston Associates, fnc. (KMA) in 1997. Prior to arriving at
KMA, he worked at Gruen Gruen 8� Associates, an urban economics and market
research firm located in San Francisco. Mr. Engstrom has performed economic and
fiscal impact studies, disposition consulting, economic revitalization consulting and
market and economic feasibility analyses.
SELECTED PROJECT EXPERIENCE
City of Cypress, Market Analysis. Estimated the market opportunities for various land
� uses in the Lincoln Avenue Corridor Specific Plan Area. Demographic analysis, sales
volume research, competitive positioning and rental rate surveys were conducted to
identify potential locations for desired land uses in the Area.
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City of Burbank, Developer Selection and Project Feasibility Analysis. Evaluated
developer proposals for a vacated site in downtown Burbank. Reviewed development
costs, market estimates, public revenues and project feasibility.
Los Angeles Community Redevelopment, Fiscal Impact. Evaluated the potential
public revenues generated by a refurbished Coliseum. A modet was developed that
allowed for the comparison of numerous scenarios depending on the impact of the new
Coliseum on the surrounding community.
City of Commerce, Highest and Best Use Analysis. Evaluated the redevelopment
potential for a large, improved site in Commerce. Identified potential uses for the site,
including theater, retail, and industrial. The market for each use was evaluated in an
effort to determine the use that would generate the highest land value for the City.
Republic Industries, Public Revenues Analysis. Conducted a market area
� assessment of a proposed auto dealership in Hawthorne, California. Estimated the likely
sales volume and transfers for project, and provided a comparative analysis to a
proposed retail center on the site.
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City of Huntington Beach, Development Agreement Negotiation. Analyzed the
financial feasibility and revenues generated by a residential and resort project. Pravided
a detailed market assessment of the residential project.
City of San Juan Capistrano, Market Assessment and Implementation Plan.
Provided a local and regional overview of the Ciry's market. Identified the potential for a
number of underperforming or vacant parcels. Provided implementation and financing
options available city to take advantage of opportunities.
City of Vernon, Market Assessment. Identified the regional and local market variables
effecting the City. Identified opportunities and constraints for future development.
EDUCATION
Mr. Engstrom holds a master's degree in geography from the University of Arizona and a
bachelor's degree in political science and geography from Villanova University.
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JULIE ROMEY
Manager
Ms. Romey rejoined Keyser Marston Associates, Inc. (KMA) in 2000. Prior to arriving at KMA's
Los Angeles office, she worked in Ernst & Young's Real Estate Advisory Services Group located
in Los Angeles and KMA's San Diego office from 1994 to 1997. She has also had site selection
experience with Foodmaker, Inc., the parent company of Jack in the Box restaurants, and wrote
the northern San Diego Grubb & Ellis Commercial quarterly market studies. Ms. Romey has
performed disposition consulting, economic revitalization consulting, affordable housing analysis
and market and economic feasibility analysis for all product types. She has also had experience
in military base conversions, affordable housing programs and corporate real estate.
SELECTED PROJECT EXPERIENCE
City of Burbank, Developer Selection and Project Feasibility Analysis. Assisted the
Redevelopment Agency with determining the land uses to be included in an RFP for a site in
downtown Burbank. Evaluated developer proposals and assisted with the determination of the
winning development team. Reviewed development costs, market estimates and project
feasibility.
City of Burbank, Development Agreement Negotiation. Analyzed the financial feasibility and
revenues generated by an entertainment center project in downtown Burbank. Reviewed
proposed changes to the development agreement. Assisted in writing the 33433 report and the
reuse analysis at the conclusion of the negotiations.
City of South Pasadena, Highest and Best Use Analysis. Evaluated the redevelopment
� potential for an improved site in downtown South Pasadena. Identified potential uses for the site,
including retail, office and residential. The market for each use was evaluated in an effort to
determine the mix of uses that would generate the highest land value for the City.
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City of Long Beach, Hotel Financing White Paper. Researched the current financing trends
for hotels in Southern California. Provided terms and conditions of financing that are being
required in the market place.
City of Long Beach, Developer Selection and Project Feasibility Analysis. Evaluated
developer proposals on four sites in downtown Long Beach. Reviewed development costs,
market estimates and project feasibility. Currently is assisting the Redevelopment Agency with
the selection of developers.
City of Pasadena, Inclusionary Housing In-Lieu Fee Analysis. Researched market home
� prices and apartment rental rates in the City of Pasadena. Detailed a methodology of
determining in-lieu fees for sub areas within the City. Provided the City with in-lieu fees that will
be included in the recently approved Inclusionary Housing Ordinance.
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City of Garden Grove, Project Feasibility Analysis. Evaluated a developer's proposal for two
hotels. Determined the warranted assistance as well as estimated the future transient occupancy
taxes. Reviewed development costs, market estimates, public revenues and project feasibility.
Various Southern California Cities, Affordable Housing Feasibility Analyses. Evaluated a
number of developers' proposals for both ownership and rental affordable housing projects.
These projects include the use of Low Income Housing Tax Credits, tax-exempt bond financing,
redevelopment set-aside funds, and HOME funds. Reviewed development cosfs, market
estimates, affordability restrictions, funding restrictions and project feasibility.
EDUCATION
Ms. Romey holds a master's degree in real estate finance from Cornell University and a
bachelor's degree in business administration from San Diego State University.
I0/I AR�TON ��SSOCI��TES I N�;.
PART V- HOURLY FEE SCHEDULE
2005/2006
A. JERRY KEYSER'
MANAGING PRINCIPALS
PRINCIPALS"
MANAGERS*
SENIOR ASSOCIATES
ASSOCIATES
SENIOR ANALYSTS
ANALYSTS
TECHNICAL STAFF
$250.00
$250.00
$240.00
$195.00
$170.00
$150.00
$135.00
$115.00
$87.50
ADMINISTRATIVE STAFF $72.50
Directly related job expenses not included in the above rates are: auto mileage, air fares, hotels and motels, meals,
car rentals, taxies, telephone calls, delivery, electronic data processing, graphics and printing. Directly related job
expenses will be billed at 110% of cost.
Monthfy billings for staff time and expenses incurred during the period will be payable within thirty (30) days of
invoice date. A charge of 1% per month will be added to all past due accounts.
' Rates for individuals in these categories will be increased by 50°/a for time spent in court testimony.
Proposal for Professional Services
Palm Desert Redevebpment Agency
0506p44.KAVI:JAR:C B:flDd
99900.000.002/0623Ip5
Keyser Marston Associates, Inc.
Page 9
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PART VI — REFERENCES
The following references are individuals with whom we have worked during the past three years
on similar assignments:
Mr. Robert Ovrom
Chief Executive Officer
Communiry Redevelopment Agency of the City of Los Angeles
354 South Spring Street, 8�' Floor
Los Angeles, California 90013
(213) 977-1801
Ms. Barbara Kaiser
Redevelopment Bureau Manager
City of Long Beach Redevelopment Agency
333 West Ocean Boulevard
Long Beach, California 90802
(562) 570-6570 �
Ms. Cynthia Kurtz
City Manager
City of Pasadena
100 North Garfield Avenue
Pasadena, California 91109
(626) 744-4124
Ms. Elisa Stipkovich
Executive Director
Anaheim Redevelopment Agency
201 South Anaheim Boulevard
10�' Floor
Anaheim, Califomia 92805
(714) 765-4332
ti
Ms. Madalyn Blake
Director of Community Deve(opment and Housing
City of Glendale
141 North Glendale Avenue
Glendafe, Califomia 91206
(818) 548-2060
Proposal for Professional Seroices
Palm Desert RedevelopmentAgency
0.506044. KMA: JAR:C B �gbd
99900.000.002/06l23�D8
Keyser Marston Associates, Inc.
Page 10
• RSG
INTELLIGENT COMMUNITY DEVELOPMENT
June 30, 2005
Mr. Dennis Coleman, RedevelopmenUHousing Finance Director
PALM DESERT REDEVELOPMENT AGENCY
Palm Desert City Hall
73-510 Fred Waring Drive
Palm Desert, Califomia 92260
Via Email and ReQular Mail
REQUEST FOR QUALIFICATION FOR AS-NEEDED REAL ESTATE FINANCIAL AND
REDEVELOPMENT CONSULTING SERVICES
Dear Mr. Coleman:
Rosenow Spevacek Group, Inc. (RSG) has worked with the Palm Desert Redevelopment
Agency on various redevelopment-related projects since 1989. Over the last 16 years, RSG has
provide the Agency with plan adoption, implementation and housing plan preparation, real
estate economic analysis, tax increment pass-through calculations and fiscal consultant
services. In response to your recent Request for Qualifications for Real Estate Financial
Consulting Servioes is interested in providing the Agency with the services listed in the RFP.
Attach you will find our full Statement ot Qualification for the variety of services required. Our
SOQ includes relevant project experience, resumes of staff to be assigned to the Palm Desert
engagement as well as references. Also attached are the requested work samples.
The following scope outlines the type of services RSG can provide if required by the Agency.
Not all of these services may be needed, but this provides a complete list of the broad range of
services we are qualified to provide.
RSG CONSULANT TEAM
For this assignment RSG would designate two Principals to lead the work for Palm Desert.
Felise Acosta would servioe as Principal-in-Charge of the contract. Ms. Acosta has over 30
years of experience in redevelopment planning and implementation, real estate financial
analysis, housing and fiscal consulting. Ms. Acosta would co(laborate with John Yonai; Principal
would has over 20 years of real estate and development experience.
Other members of the Palm Desert consulting team would include Tim Mulrenan, Director; Mary
Lanier and Michael Garcia Senior Associates; Jose Ometeotl, Associate; Andrew Gee, Senior
Analyst and Fernando Cazares, Lynn Kelly and Beverly Wong Analysts. Full resumes of the
RSG Consultant Team are included in the attached SOQ.
RECEVELOPr+'ENT a�qNN�NG
RE4� ESTATE ECONONiCS
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F�reahc�Ne
REA�_ ESTATE OCCU�S�T�ON
tCONOMIC L`EVE�U�MENi
GOVERNMENT SER'JICES
ROSEHOW SPEVACEK GROUP INC. T 714 541 4585
309 WEST 4TH STREET F 714 541 1175
SANTA ANA. f.'ALIFORNIA E INfO a�WEBR5G COM
92 701-4 502 WEBRSG COM
Mr. Dennis Coleman, RedevelopmenUHousing Finance Director
PALM DESERT REDEVELOPMENT AGENCY
June 30, 2005
Page 2
SCOPE OF SERVICES
A. REAL ESTATE FINANCIAL CONSULTINGIIMPLEME(�fTAT10N AGREEMENTS
Development PlanninQ and Analvsis: RSG is available to provide development
planning and analysis for spec�c project undertakings. Typically, this would involve
preparation of a Design for Development for adoption by the Agency that sets the
basic parameters for proposed development. The options available to the Agency for
development of a specific site can be analyzed to determine the optimal outcome and
a recommended project.
2. Develonment Pro Forma Analvsis/Neaotiation: RSG is available to provide project
financial pro formas for potential redevelopment projects to assist the Agency in
determining the financial viability of a project and determine the degree of participation
which may be required by the Agency. RSG is also available to assist witt� developer
negotiations as needed.
Aareement Preparation: RSG is available to assist Agency staff and legal counsel in
the drafting of agreements (typically, Disposition and Development Agreements or
Owner Participation Agreements). These agreements outline the responsibilities of
both the proposed owner/developer and the Agency.
4. AQreement Processinp,: RSG is availab{e to prepare the back-up materials, agenda
staff report, and summary report (required by redevelopment law) and assure that
proper noticing and hearings are held in conformance with law.
B. PROJECT ACCOUNTING AND FINANCE
Tax Increment Financinqs: The Agency has been impiementing its programs with
funds realized by prior bond issues. As revenue increases and funds are needed for
additional implementation activities, RSG is available to provide fiscal consulting
services needed for the issuance of tax increment securities. These services would
include tax increment revenue projections based on current year assessed valuations,
historical trends, building permits issued for in-progress projects, review of planned
new development, and the effects of pass-through agreements. RSG is also available
to provide financial advisory services, assist with preparation of Official Statements,
and other issuance procedures.
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Mr. Dennis Coleman, Redevelopment/Housing Finance Director
PALM DESERT REDEVELOPMENT AGENCY
June 30, 2005
Page 3
2. Pass-Throuqh Calculations: The Agency is required to make annual pass-through
payments to taxing entities and various property owners/developers pursuant to the
terms of ce►tain agreements. RSG is available to calculate these payments on behatf
of the Agency.
3. Disclosure Reports: RSG is available to assist the Agency with the preparation of
ongoing disclosure reports for outstanding bond issues.
4. Finance Strateaies: RSG has worked with the Agency in the past to determine the
best use of the funds available. Because the Agency is involved in both public
improvements and private developments, it is important that the tax exempt funds
(which must be used for public projects) and other less restricted funds be used to
their best end. RSG can advise the Agency regarding its best use of bond proceeds,
housing funds, land/real estate proceeds, and tax increment funds.
C. REPORTING REQUIREMENTS
RSG is available to assist the Agency in preparing the following documents and reports
sequired by State 4aw:
Annual Budqet and Work Proaram: Redevelopment Law (HSC Section 33606)
requires all redevelopment agencies to prepare an annual budget that includes
the proposed expenditures, proposed indebtedness, anticipated revenues, a
work program for the coming year, and an analysis of prior year
accomplishments. RSG is available to assist with this task and would utilize
information from the Agency budget to prepare the annual budget to comply with
Redevelopment Law.
2. State Controller's Report: If needed, RSG will assist staff in preparing this
required report, particularly the Housing and Community Development portion of
the report.
3. Statement of Indebtedness: RSG is available, if needed, to assist with the
preparation of this document, although likely this has been, and will continue to
be done by the Agency Finance Division.
4. Manitorinq Deed Restrictions: Redevelopment Law requires the Agency to
expand and improve the supply of affordable housing and to record deed
restrictions to assure continued income level compliance. RSG is available to
monitor these deed restrictions if needed.
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Mr. Dennis Coleman, RedevelopmenUHousing Finance Director
PALM DESERT REDEVELOPMENT AGENCY
June 30, 2005
Page 4
D. AFFORDABLE HOUSING PROJECTS
Comprehensive Strateqv: RSG is available to assist with the future updates of a
comprehensive affordable housing strategy. RSG is also available to prepare the
Agency Housing Plan a requirement of the Stipulated Judgment.
2. Specific ProiectlSite Identification: The Agency has specific requirements to
rehabilitate and develop new affordable housing. It may behoove the Agency to
identify specific projects and sites that could be utilized for this purpose.
3. Developer Selection/Neqotiation: RSG is available to assist in the developer selection
process, as wetl as in negotiating terms and agreements for future housing
development.
4. Financina: RSG has a background in developing various financing altematives,
making use of 20% set-aside funds, tax allocation bonds, tax credit opportunities, and
other revenue bond formats to assure the most efficient and effective way of
4evesagtir►g Agency funds for the tlevelopment of housing.
E. REAL ESTATE SERVICES
RSG is available to perfonn real estate relaied senrices. These services include:
1. PropertY Manac7ement: If needed, RSG is available to provide property management
services for Agency-owner properties. Typically, RSG has provided interim
management services when either the property will be held for only a short time, or
when time is needed to select a long-term, permanent management company.
2. Property Acquisition/Neqotiation: Implementation programs frequently require property
acquisition and negotiation senrices. RSG is available as needed to provide such
services. All services will be provided in conformance with State guidelines regulating
the acquisition of properties by public entities.
4. Relocation: From time to time, relocation services have been required, and although
RSG does not directly provide these services, RSG has contracted with, and overseen
the work of, other specialty relocation consultants and can provide this service.
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Mr. Dennis Coleman, RedevelopmenUHousing Finance Director
PALM DESERT REDEVELOPMENT AGENCY
June 30, 2005
Page 5
F. AGENCY ADMINISTRATION
RSG is available to assist the Agency with all other administrative activities as needed.
RSG has experience in assisting staff with establishing procedures that can then be
implemented without consultant involvement. Other administrative activities may include:
1. Aqenda Materials: RSG will draft resolutions, reports, notices, plans, agenda staff
reports, and back-up materials as requested by Agency staff.
2. MeetinQs: RSG staff is available to attend meetings of the City Council/Agency,
Planning Commission, project advisory committees, and property owners and
residents, when necessary. RSG has a track record of developing good working
relationships with both affected citizens and with staff members.
3. General Administrative Services: RSG is available to assist the Agency with all other
administrative matters on an as-needed basis. These services could include assisting
with Agency filing document control systems, providing specialized services related to
real estate appraisals, acquisition negotiations, relocation, marketing ana4ysis, deta9led
development analysis or goodwill appraisals. RSG may not directly provide all of
these services but could assist by identifying those consultants who have experience
in the necessary areas of expertise.
F. SPECIAL PROJECT ACTIVITIES
RSG is available to prepare necessary analysis and documentation for any specific
implementation activities.
1. Sqecific Proiect Activities: As necessary, RSG is available to analyze spec�c projects,
develop schedules and budgets, and prepare necessary documentation.
Economic Develo�ment: Implementation of the Redevelopment Plans should be
accomplished in such a way as to promote economic stability and future revenue flow
to the Agency and other taxing entities. With periodic slowdowns in real estate market
activities, it is necessary for redevelopment agencies to take a lead role in promoting
local economic development. RSG is available to aid the Agency in analyzing the
costs and benefits of specific development proposals and users and to help create a
program which is beneficial to the local tax base.
G �RSG�h7ancetump�nentat�onWaim Desen OSRee�EstetclPaimDesen05 aec
Mr. Dennis Coleman, RedevelopmenUHousing Finance Director
PALM DESERT REDEVELOPMENT AGENCY
June 30, 2005
Page 6
FEES
Our fees would be charged in accordance with the following rate schedule, and each invoice
would detail the project and services provided. No work would commence without authorization
from designated Agency staff.
PrincipallDirector
Senior Associate
Associate/Aoquisition Agent
Senior Analyst
Analyst
Research AssistanUReal Estate Technician
Word Processor
Clerical
Reimbursables
$175
$145
$125
$100
$ 90
$ 80
$ 60
$ 50
Cost Plus 10%
It is RSG's policy to not charge clients for mileage, parking, telephone/fax expense, postage and
incidental copies. We do, however, charge for additional insured certificates, messenger
services, overnight mail costs, and copies of reports, documents, notices, and support material
in excess of five (5) copies. These costs are charged at actual expense plus a 10% surcharge.
Thank you for the opportunity to submit this proposal. We welcome an opportuniry to continue
to work with the Palm Desert Redevelopment Agency.
Sincerely,
ROSENOW SPEVACEK GROUP, INC.
Felise Acosta
Principal
G tRSGUNarken�mpiemernaeonWaim Uesen OSReaEstetc�Ca�mDesert05 Ooc
f �
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•�-•.
�
INTELLIGENT COMMUNITY DEVELOPMENT
PALM DESERT REDEVELOPMENT
AGENCY
STATEMENT OF QUALIFICATIONS
Real Estate Financial Consulting Services
ROSENOW SPEVACEK GROUP INC.
309 WEST 4TH STREET
SANTA ANA, CALIFORNIA
92701-4502
T 714 541 4585
F 714 541 1175
E INFO� WEBRSG.COM
WEBRSG.COM
• RSG
INTELLIGENT COMMUNITY DEVELOPMENT
Company Profile
Vision...Fulfilled
Taking a project from concept to completion requires...
• Imagination and planning to see the possibilities
• Experience and commitment to make it happen
• From the smallest detail, to the most complex problem
• We strive to create harmony to create oommunities
At RSG, our approach is a balance of forward thinking and understanding gained from over a
quarter of a century's experience.
Rosenow Spevacek Group
provides consulting services for public and private agencies. Our experienced professionals
create customized solutions, emerging from an understanding of each communiry's unique set
of challenges. We specialize in:
Redevelopment Planning
Real Estate Economics
Housing
Financing
Real Estate Acquisition
Economic Development
Govemment Services
Company Profile
Page 1
• RSG
INTELLIGENT COMMUNITY DEVELOPMENt
Real Estate Economics
• Pro Forma Development & Market Analysis
• Project Structuring & Financing
• Development Agrtement Negotiation
• Developer Solicitafion
• Economic lmpacf Analysis
"RSG does not just `crunch numbers=they brought a unique insight to our project and
fheir credibility and oufstanding reputation with public agencies was a great asset to our
company and project"
--Jim Kubicka, Homeplace Retir�ment Communities of America.
For over two decades, Rosenow Spevacek Group, Inc. has provided economic, redevelopment,
and real estate consulting servioes to both public agencies and private participants in the
community development process. Throughout California, RSG has advised our clients on a
variety of real estate projects, including:
• Auto dealerships/malls
• Hotel, motel and resort projects
• Housing
• Industrial projects
• Infill Projects
• Master planned communities
• Mixed use developments
• Office projects
• Recreational uses
• Regional shopping malls
• Retail Centers
• Site reuse
• Urban entertainment centers
In total, RSG's real estate economic services have resulted in the development of over 4 million
square feet of commercial, industrial, and office uses, and 5,500 affordable and market rate
housing units.
The RSG consultant team brings our clients a wealth of knowledge in real estate economics--
not only from our collective 100 years of providing these services, but also our first-hand
experience in real estate brokerage, development, and project design. RSG has been involved
in analyzing projects exceeding $10 billion in volume. Formulating innovative solutions,
attention to detail and adherence to project schedules are signatures of our senrice.
Real Estate Economics
Page 1
• RSG
INTEILlGENT COMMUNITY DEVELOPMENT
Pro Forma Development & Market Analysis
RSG brings a consultant team comprised of former �eal estate investors, developers and public
sector o�cials that know how to analyze and evaluate real estate transactions.
Project Structuring 8 Financing
Our clients trust RSG to advise on crafting appropriate development assistance packages that
balance the developer and communit}r's interests.
Development Agreement Negotiation
Once the principal business points have been established, RSG's development insights enable
our clients to confront and overcome issues that arise as the deal is refined.
Developer Solicitation
Driven to help our clients achieve their community development ambitions, RSG understands
how to effectively stimulate interest from capable developers.
Economic Impact Analysis
Today, iYs just not enough to know how much a project will cost and how much revenue it will
generate: When public agencies and developers want to know the ongoing municipal,
employment, and secondary impacts of projects, they look to RSG.
Real Estate Economics
Page 2
• RSG
INTEILIGENT COMlIUNITY DEVELOpMEfiT
Recent Project Experience
Squier Properties Affordable Housing Proposal - Giendale Housing Authority
RSG advised the Housing Authority on the development of a 65 unit $22 million affordable
housing project utilizing 9% low income housing tax credits. RSG's role included pro forma
analysis, analysis of current tax credit allocation committee regulations and assistance with
negotiations between the Authority and the developer.
Contact: Peter Zovak
Housing Development 8� Preservation Administrator
City of Glendale
(818) 548-2060
United Cerebral Palsy Project - Glendale Housing Authority
RSG worked closely with the Housing Authority on the structure and Authority assistance for a
$9 million development of an affordable housing special needs project targeted for low income
households afflicted with Cerebral Palsy. RSG's role included pro forma analysis, analysis of
current tax credit allocation committee regulations and assistance with negotiations between the
Authority and the developer
Contact: Peter Zovak
Housing Development & Preservation Administrator
City of Glendale
(818) 548-2060
Village Green Apartments - Sonoma Redevelopment Agency
RSG assisted with tfie research, pro forma analysis and identification of funding sources to
leverage a 34-unit affordable housing project. RSG advised the Redevelopment Agency on the
acquisition of the existing 34 unit affordably housing project, advised on the structure of a
leveraged assistance including housing set-aside funds and US Dept of Agriculture funds to
maintain affordability.
Contact: David Goodison
City Planning Director
City of Sonoma
(707) 933-2205
Real Estate Economics
Page 3
• RSG
INTELIIGENT COMMUNITY D�VELOPMENT
Black Diamond Mixed-Use Project, Los Medanos Community Developrnent Project
Area - Pittsburg Redevelopment Agency
RSG advised the Redevelopment Agency on assistance for a$90 million downtown mixed use
development consisting of 195 market rate and affordable housing units and 40,000 square feet
of ground floor commercial space. RSG's role included pro forma anaiysis, drafting of
Disposition and Development Agreement deal points, assistanoe with negotiations between the
Authority and the developer and drafting of the required Health and Safety Code 33433 report.
Contact.� Ursula Luna
Redevelopment Project Manager
Pittsburg Redevelopment Agency
(925) 252-4179
Courtland Senior Project - Arroyo Grande Redevelopment Agency
RSG advised the Redevelopment Agency on the funding of 9% low income housing tax credits,
and a Disposition and Development Agreement with Meta Housing for the development of a$15
million 108 unit affordable senior project. RSG's role included pro forma analysis, analysis of
current tax credit allocation committee regulations and assistance with negotiations between the
Authority and the developer.
Contact: Mr. Steven Adams
City Manager
City of Arroyo Grande
(805) 473-2250
Downtown Development Project - Cathedral City Redevelopment Agency
RSG advised the Redevelopment Agency on the financial assistance and the Disposition and
Development Agreement modfications for a$60 million downtown mixed use project consisting
of 64 units of affordable apartments, 107 units of market rate for sale housing units, and 75,000
square feet of commercial space. RSG's role included pro forma analysis, drafting of
Disposition and Development Agreement deal points, assistance with negotiations between the
Authority and the developer and drafting of the required Health and Safety Code 33433 report.
Contact: Mr. Keith Scott
Project Manager
Cathedral City Redevelopment Agency
(760) 770-0340
Real Estate Economics
Page 4
• RSG
INTELIIGENT GOMMUNITY DEV�IOPMENT
Abella Mixed-Use Project - San Pablo
The City of San Pablo Redevelopment Agency retained RSG in May of 2001 to assist with the
redevelopment of an underutilized shopping center. Work included developer solicitation,
selection and negotiation. We have reviewed financial pro formas, prepared real estate market
analysis, reviewed land use plans, assisted with project design, hosted community forums and
assisted with the relocation of existing tenants in the shopping center. The developer is
scheduled to break ground for the construction of 90 single-family residential homes, 104
townhomes, 98 condominiums and commercial/retail uses in late 2002.
Confacf: Brock Arner
City Manager
510.215.3040
Mira Flores Affordable Housing - La Ouinta
The La Quinta Redevelopment Agency retained RSG to provide real estate advisory services
including developer solicitation and selection, negotiation of a disposition and development
agreement befinreen the Agency and the developer, advice on financing options and advice on
project changes riiroughout the process. The construction of 204 units of affordable housing,
consisting of 118 apartments financed with 4% tax credits and tax exempt housing bonds and
86 single-family detached homes for sale to moderate income and market rate households, is
scheduled for completion in 2002.
Contact: Tom Genovese
City Manager
760.777.7100
Affordable Housing Projects - La �uinta
For the past 13 years, RSG has provided real estate advisory services to the La Quinta
Redevelopment Agency - resufting in the development or rehabilitation of 500 housing units in
the City. Our work has included review of the credit financings, setf-help programs, and
restructuring of several suspended projects. We have worked with local and production home
builders, as well as nonprofit agencies.
Contact: Tom Genovese
City Manager
760.777.7100
Real Estate Economics
Page 5
• RSG
INTEILIGENT COMMUNITY DEVEtOPMENT
Mission Road Mixed Use Project - San Marcos
In 1998, during development of an Economic Development St�ategy for the San Marcos
Economic Development Corporation, RSG was called upon to advise the Agency on a small
mixed-use project in an older Latino neighborhood in the downtown. Today, the Corridor
Revitalization Project site encompasses 5 acres, and development plans call for a mix of
housing and traditional mercado shops and restaurants. RSG has assisted in the structuring of
the projects successful application for tax credits, evaluated project construction and operating
costs, and assisted in project design.
Contacf: Rick Gittings
City Manager
760.744.4020
Marriott Hotel and Metropolitan Plaza Projects - Burbank
RSG was retained by the City of Burbank Redevelopment Agency to assist in the analysis of a
variety of commercial, office and hotel projects in the City. The Agency has been moving
forward with a comprehensive revitalization program of substandard and underutilized
commercial districts in the City, and sought RSG's assistance in the evaluation and guidance on
various redevelopment proposals, including:
• Metropolitan Plaza mixed use development, involving 210,000 square foot office tower,
300-room hotel, 24,000 square foot cinema, and 100,000 square foot commercial center
• 250-400 room Marriott Hotel at former Bicycle Club site
• 25,000 square foot Border's Books and Music redevelopment project
Coniacf: Susan Evans
(Now Culver City Community Dev. Director)
310.253.5700
Real Estate Economics
Page 6
• RSG
INTEILIGE}!T GOMMUNITY DEVELOPMENT
Project Sierra - Mammoth Lakes
Project Sierra encompasses three master-planned resort neighborhoods, adjacent to the
Mammoth Mountain Ski Area. The Sierra three neighborhoods that comprise the $750 million
Master Plan include:
Sierra Star: A hotel, resort condominium, and residential condominium project oriented
around a new 18-hole championship golf course.
Gondola Village: A mixed-use project, featuring 116,700 square feet of themed retail
uses, and 854 resort condominium units.
Juniper Springs: Includes 344 units of resort and residential "ski-in-ski-ouY' condominium
units.
In 1997, RSG was retained by Intrawest Mammoth Corporation to prepare an extensive analysis
of the projecYs impacts on the local economy, engage in development agreement negotiations,
and participate in the community planning process
Contact: Dana Carlson Severy
(formerly with Intrawest Mammoth Corporation)
760.924.8189
The Block at Orange - Orange
This project involved the redevelopment of an abandoned 1.1 million square foot regional mall
into an 800,000 square foot open-air entertainment/factory outlet center. In just its first year of
operation, The Block at Orange attracted as many visitors as Disneyland. RSG was retained
when negotiations with the Orange Redevelopment Agency were at impasse. Our prior
credibility with the Agency allowed The Mills Corporation to reopen negotiations and conclude
an agreement. RSG's tasks included preparing development and operating pro formas and 20-
year revenue forecasts for various project development scenarios. Spec�c activities entailed
pre- and post-development City revenues estimates, sales tax and tax increment projections,
transaction negotiations, agreement structuring, and analysis of similar entertainment centers in
Southem California for Agency reuse analysis and summary report use.
Contact: Elizabeth Link
Development Director, The Mills Corporation
618.692.9101
Real Estate Economics
Page 7
• RSG
INTELLIGENT COMMUNITY DEVELOPNENT
Asset Review/Market Study - Chino Hills/San Jacinto
RSG was retained by the Bahan Family Trust to prepare a series of real estate market studies
for properties located in Chino Hills and unincorporated Riverside Counties. The Chino Hills
assignment involved preparation of regional and local absorption forecasts for a 22-acre parcel,
determination of the properties highest and best use, and �edesignation of the properties
through the concurrent General Plan formation process. RSG continues to advise the Trust on
these and other real estate matters today.
Contact: Paul Bahan
Bahan Family Trust
626.796.9854
OII Brownsfield Site - Monterey Park
The City of Monterey Park Redevelopment Agency sought to facilitate the reuse of an
abandoned EPA Superfund site along the Pomona (60) Freeway, and engaged RSG to prepare
a market assessment of the use potential for this property. In addition to the presence of
remediation equipment, the deve�opment analysis also needed to account for several other site
constraints, including poor access and the triangular lot configuration. RSG participated in
follow-up discussions with the City, EPA and other principal parties.
Confact: Kelvin Tainatongo
Director of Economic Development
(formerly with Monterey Park Redevelopment Agency)
626.307.1386
Opus & Tooley Office Prosects - Diamond Bar
In 1999, the Diamond Bar Redevelopment Agency retained RSG to evaluate two separate
requests for redevelopment assistance to facilitate development of mid-rise office projects in the
Gateway Corporate Center. The Opus project involved a 128,000 square foot office campus for
Allstate Insurance, while the Tooley 8� Co. proposal entailed a 165,888 square foot office
development. For both projects, RSG prepared development and operating pro formas,
summary reports and reuse analyses.
Contacf: Terrence Belanger
(Now Yorba Linda City Manager)
714.961.7100
Real Estate Economics
Page 8
• RSG
INTEIIIfiENT COMMUNITY DEVELOPMENT
Hampton Inn/Amin - San Pablo
RSG assisted the San Pablo Redevelopment Agency in locating a 140-room hotel in the City.
Even though market demand supported a hotel in the vicinity, the task of securing a viable
project was not easy, gi�en the area's limited freeway access and visibility. Ultimately, the
Redevelopment Agency executed a disposition and development agreement as a means to
facilitate the project. RSG worked with the Agency throughout the process, including a market
assessment, pro forma analysis, deal structuring, negotiating and drafting the terms of the
agreement, and forecasting transient occupancy tax and property tax increment revenues from
the project.
Contact: Brock Arner
City Manager
510.215.3040
Hitton Garden Inn & Homewood Suites - La Gluinta
The La Quinta Redevelopment Agency sought to diversify the community's lodging supply by
enticing mid-range hotels to compliment the renowned La Quinta Hotel & Resort. The result is a
240-room project proposal for a Hilton Garden Inn and Homewood Suites. RSG provided the
Agency with a variety of real estate services to achieve this objective. To date, RSG's roles
have included site acquisition, developer solicitation, and structuring an exclusive negotiation
agreement. RSG is currently working on negotiations of a deveiopment and disposition
agreement and pro forma analysis.
Contact.� Tom Genovese
City Manager
760.777.7100
Arr�eriHost Inn - Fontana
In an effort to bring a mid-range hotel to the City, the Fontana Redevelopment Agency retained
RSG to provide developer solicitation and negotiation services. The result is a proposed 100-
room hotel at the Baseline and Interstate 15 intersection. In addition to advising the Agency on
deal points, RSG engaged in discussions regarding the appropriaie structure of the incentive
package to protect the Agency's interests involving a franchisee and franchiser.
Confact: David R. Edgar
Director of Housing and Business Development
909.427.9013
Real Estate Economics
Page 9
• RSG
INTEILIGEN7 COMMUti1TY DEVEIOPMEHT
RiverPark Mixed-Use Project - Oxnard
The Oxnard Community Development Commission retained RSG to prepare a real estate
feasibility analysis and fiscal impact report pertaining to the development of a$900 million
mixed commercial, office and residential project. On approximately 700 acres, the proposed
development consists of 400,000 square feet of office space, 1,000,000 square feet of general
commercial and approximately 2,500 multifamily and single family detached residential units.
RSG has been asked to analyze the market conditions, cost estimates, revenue projections and
other pro forma assumptions pertaining to the project. RSG is assisting the Commission in
ascertaining the form, structure and leve{ of public assistance required for the negotiation of an
Owner Participation Agreement.
Contact.• Curtis Cannon
Community Development Director
805.385.7407
The Colonies at San Antonio Lakes - Upland
The City of Upland retained RSG to prepare a real estate feasibility analysis and fiscal impact
report pertaining to the development of an estimated 794 detached residential units, 320
attached residential units, and approximately 1,212,194 square feet of commercial space
including general retail, restaurant, health club, theater, office, auto sales, and hotel and day
care facilities. The Project is to be constructed on approximately 440 acres. RSG has been
asked to analyze the market conditions, cost estimates, revenue projections and other pro
forma assumptions pertaining to the project. RSG is assisting the City in asce�taining the form,
structure and level of public assistance required for the negotiation of an Owner Participation
Agreement.
Contact.� Steven Dukett
Redevelopment Director
909.931.4103
Real Estate Economics
Page 10
• RSG
INTEIIIGEN7 COMMUNITY DEYELOPM£HT
National City Community Development Commission
After working on redevelopment planning projects for the City, RSG was retained by the
Community Development Commission to provide real estate advisory services for various
commercial and public redevelopment projects. RSG's work has included project structuring,
pro forma analysis, developer solicitation, developer negotiations, reuse analysis, and
preparation of MOUs, OPAs, and DDAs. Recent projects include redevelopment of the Pacific
Steel property, review of development proposals for a mixed use project in the Hart�or District,
and a reuse analysis for the MSI Property.
Contacf: Benjamin Martinez
Executive Director
619.336.4276
Carlsbad Housing and Redeveloptrent Commission
RSG has recently been providing real estate economic services on a mixed-use project in the
Village Redevelopment P�oject Area to the Carlsbad Housing and Redevelopment Commission.
For this assignment, RSG's role included pro forma anaiysis, project structuring, developer
solicitation, and DDA preparation.
Confacf: Debbie Fountain
Housing and Redevelopment Director
760.434.2811
EI Cajon Redevelopment Agency
Since 1986, RSG has assisted the EI Cajon Redevelopment Agency in creating and
implementing a redevelopment program in downtown and surrounding areas. RSG has
evaluated retail, industrial and residential redevelopment proposals. RSG has studied the
financial feasibility of land assembly projects ranging from less than one acre to 115 acres.
Working as an advisor to the Agency, RSG is also consulted by Agency staff on strategic
planning issues affecting program implementation.
Contacf: David Cooksy
Assistant to the City Manager
619.441.1718
Real Estate Economics
Page 11
• RSG
INTELLIGENT COMMUNITY DEVELOPMEHT
Folsom Redevelopment Agency
RSG was retained by the Folsom Redevelopment Agency to analyze, negotiate and structure a
mixed use development proposal for the Agency's 6.7 acre Railroad Block located in the Folsom
Historic District. The development proposal encompassed a 100-unit boutique hotel, 294
apartment and loft residential units, 30,000 square feet of retail space, and 7,000 square feet of
railroad oriented museum and public space. RSG's tasks included evaluating the market and
financial feasibility of the mixed use proposal, identifying the amount of public investment
needed to yield an economically viable development, estimating the return on investment the
City and Agency would receive, pa�ticipating in development negotiations, and community
presentations. After considerable negotiations, the Agency elected to not conclude an
agreement with the developer and RSG is now assisting the Agency with identifying
development options and witt� soliciting new development proposals.
Contact: Amy Fegan
Community Development Manager
916.355.7351
Silver Rock Resort - La (luinta
The La Quinta Redevelopment Agency retained RSG to provide real estate advisory services to
manage the process to select a hotel developer through an RFQ. RSG developed the RFQ,
reviewed, analyzed and evafuated the proposal responses. We recommend the best qualified
hotel developer proposal to the Agency and participated in the Exclusive Right to Negotiate
Agreement (ENA) discussions with the selected hotel proponent. The hotel developer is now in
the process of ineeting the requirements outlined in the approved ENA.
Contact: Tom Genovese
City Manager
760.777.7100
Camarillo Hotel Project - Camarillo
The Camarillo Community Development Commission hired RSG to assist in the preparation of
an RFQ to solicit proposafs for a conference hotel on an 8.4-acre site focated in the Ventura
County Technology Corridor. RSG reviewed, analyzed and evaluated the proposals that were
received in response to the RFQ. We also ranked the proposal responses and recommended
the best qualified to the staff of the Commission. RSG is now assisting the Commission in the
negotiations with the selected hotel developer.
Contact: Jerry Bankston
City Manager
805.388.5307
Real Estate Economics
Page 12
• RSG
INTELLIGENT COMMUNITY DEVELOPMENT
Felise Acosta
Rosenow Spevacek Group - Principal
Project Manager for clients requiring services in redevelopment, housing, economic
development, finance activities and developer/public sector coordination. Specializes in
redevelopment project area implementation and formation, housing and economic development
programs, redevelopment and bond financing. Has directed the creation or amendment of
project areas for the Cities of Buena Park, Burbank, Carson, Fontana, Palm Desert, Port
Hueneme, Poway, Orange, San Bernardino, and the Inland Valley Development Authoriry
(IVDA) for the Norton Air Force Base and the Victor Valley Development Authority for the
George Air Force Base.
Project implementation experience includes: coordination of affordable housing implementation;
Disposition and Development Agreement prooess for redevelopment agencies; pro forma
analysis; coordination of site assembly process required for project implementation; commercial
and residential rehabilitation, and local agency financial analysis, interim community
development director services, and planning for numerous clients throughout southern
California.
Project manager for fiscal consulting services in support of over $600 mi44ian in tax a{location
bonds. Clients include Cities of Bell, Big Bear, Carson, Cudahy, Chino, EI Cajon, IVDA,
Monterey Park, Palm Desert, Poway, Rancho Palos Verdes, Redlands, San Bemardino, Sparks
(Nevada), Taft, Torrance, and Vista.
City of Buena Park - Community Development Officer
Directed and managed the activities of the Redevelopment Agency, the City's HCDBG and
Economic Development programs supervising a staff of seven, a� annual budget of $14 million,
and two Redevelopment Project Areas totaling over 1,000 acres. Was responsible for Agency's
cash flow and preparation as five year financial implementation plan, directed the Agency bond
financing program. Managed numerous site assembly projects. Negotiated with developers for
acquisition and development of sites in the project areas, acted as chief staff liaison with
Redevelopment Agency Board, Project Area Committee, and Citizens Advisory Committee.
Education
Bachelor of Arts, Urban Geography, Califomia State University, Long Beach
Professional Affiliations
National Association of Housing and Redevelopment Officials Southern Califomia Chapter
Califomia Association for Local Economic Development
Resumes
Page 1
• RSG
INTELLIGENT COMMUNITY DEVELOPMENT
John Yonai
Rosenow Spevacek Group - Principal
Provides project management and implementation services for a variety of real estate
consulting services to public agencies. Acquisition services include coordination with client staff
and supporting consulting services required in the real estate acquisition process. Coordinates
negotiation of all forms of real estate contracts, professional services for engineering, title
insurance, appraisals, escrow services, hazardous materials review including remediation, and
relocation services. Negotiation engagements include acquisition of fee interest, easement
interests, leasehold interest, disposition and development agreements, owner participation
agreements and lender negotiations. Specializes in economic evaluation and feasibility analysis
for retail commercial centers, office projects, hotel projects, industrial projects, and single and
multifamily housing. Coordinates RSG's acquisition and hazardous material conditions and
remediation management services.
PacTel Properties - Director of Projects
Directed all acquisitions, development, and portfolio management in Los Angeles, Orange, and
Ventura Counties. Projects included raw land development, development of commercial and
industrial product, office building rehabilitation, recreational properties, and multiple family
housing devefopments. Responsibiiities also inciuded marketing of company services and
leasing activity for portfolio. Acquired and developed over 1,500,000 squa�e feet of building
space in excess of $250,000,000 in value.
Tierra West Real Estate Consultants - Principal
Principal in charge of a multidiscipli�ed p�ofessional real estate consulting group providing
services to corporations and private entities. Projects included corporate real estate planning
and long range projections. Asset management services for large commercial office projects,
including financial and property management oversight; and coordinated negotiations to acquire
property through purchase and by leasing.
Education
Graduate School of Management Real Estate/Finance Certificate, University of California, Los
Angeles
Bachelor of Science, Business/Finance, Loyola-Marymount University
Professional Affiliations
Urban Land Institute
National Association of Housing and Redevelopment Officials-So. California Chapber Instructor
California Redevelopment Association-Redevelopment Institute Instructor
National Association of Corporate Real Estate Executives
California Association of Reaftors - Licensed Real Estate Broker
Resumes
Page 2
• RSG
INTE�LIGENT COMMUNITY DEVELOPMENT
Timothy Mulrenan
Rosenow Spevacek Group - Director
Advises public and private sector clients on negotiation assistance packages for affordable
housing, hotel, and commercial developments. Acquires property for client development
projects, structures financing, and negotiates owner participation agreements and disposition
and development agreements.
Pacific Realty Investments - Principal
Provided acquisition, disposition, construction management, property development, and
consulting services to public and private sector clients. Acquired and rehabilitated multifamily
foreclosures, developed affordable housing projects, provided property management and
property investment servioes.
PacTel Properties - Vice President
Set up and ran Southem California offices for commercial real estate investor. Developed raw
land, office, and industrial projects worth over $300 million. Negotiated partnership agreements,
directed leasing and property management, acquired financing for all projects, put together
Community Facilities District financing for a 500-ac�e industrial park putting in area
infrastructure serving company project as well as surrounding development.
Pacific Bell - Real Estate Manager
Negotiated all real estate transactions for regional telephone company in the Los Angeles area,
supervising a property portfolio of over 5 million squa�e feet. Negotiated major leases for parent
ATBT including $60 million west coast headquarters requirement in downtown Los Angeles.
San Val Development - Project Manager
Developed shopping centers and office buildings for this Los Angeles based commercial
developer. Managed all construction and coordinated tenant move-ins for Canyon Plaza
Shopping Center and the Coast Federal Savings Building on Ventura Boulevard.
Education
Bachelor of Arts, Geology, Rutgers University
Masters, Business Administration, Concentration in Real Estate and Entrepreneurial Ventures
Rutgers University
Professional Affiliations
Urban Land Institute
Professional Certifications
Licensed Real Estate Broker, State of California
Licensed General Contractor, State of Cafifornia
Resumes
Page 3
• RSG
INTELLIGENT COMMUNITY DEVELOPMENT
Ramon Siiver
Rosenow Spevacek Group - Director
Assists public and private sector clients in the areas of development and redevelopmeni.
Provides government services in the areas of organizational audits, workshop facilitation,
process mapping and improvement, and competitive servioes analysis.
City of Huntington Beach - City Administrator
Responsible for the day-to-day management of a municipal corporation with a population of
200,000, an annual budget of $355,000,000, 1,100 employees, and five merged redevelopment
project areas. Led the City through the process of becoming an overnight tourist destination,
redevelopment of the commercial retail mall, and the coordination of private sector development
projects with the city organization and processes. Coordinated the development of
organizational and departmental audits.
City of Upland - City Manager
Responsible for the day-taday management of a municipal corporation with a population of
60,000, an annual budget of $40,000,000, and 300 employees. Coordinated the
implementation of a number of organizational studies and the initiation of a st�ategic plan.
County of San Diego - Director of Planning and Land Use
Directed the building and planning functions for the County's 3,600 square miles of
unincorporated territory, including 28 separate communities with a staff of 300 planners, building
plan checkers, and inspectors. Initiated a reorganization of the planning function to provide for
regional planners who worked closely with the communities.
City of Coronado - City Manager
Worked closely with the Port of San Diego in the development of two major hotel developments
and commercial areas. Also led the effort to annex the North Island Naval Air Station which is
larger than the previous city's square miles. Previously served as Director of Administrative
Services managing the municipal functions of accounting, budget, purchasing, risk
management, and human resources, in addition to putting together the annual budget for the
City Manager.
Education
Bachelor of A�ts, Public Administration, California State University, Los Angeles
Professional Affiliations
International City Management Foundation
Califomia City Management Foundation
Resumes
Page 4
• RSG
INTELIIGENT COMMUNITY DEVELOPMENT
Mary Lanier
Rosenow Spevacek Group - Senior Associate
Develops housing rehabilitation programs, density bonus ordinances, Indian gaming analysis,
and five-year implementation plans. Pro�ides management staffing and project management
services for redevelopment agencies. Ms. Lanier is working on programs and projects for the
cities of Commerce, San Jacinto, and Upland.
City of San Jacinto - Redevelopment Operations Manager
Managed redevelopment, economic development, housing, and Community Development Block
Grant programs. Negotiated and processed agreements including: purchase and sale
agreements, disposition and development agreements, and owner participation agreements.
Prepared grant applications for historic preservation and water conservation projects, with
awards of $180,000. Coordinated major city events with up to 20,000 attendees, the city's
annual report, and p�esentations to city councils and community groups. Served on a regional
committee to address the impacts of Indian gaming on local governments.
City of Moreno Valley - Redevelopment Manager
Managed redevelopment, housing, and Community Development Block Grant programs.
Coordinated homebuyer and housing acquisition and rehabilitation programs, and facilitated
public infrastructure projects and bond issues. Processed HUD Section 202 Senior Housing
and State Tax Credit multi-family projects through the city government process. Worked with
community services districts, assessment districts, and community facilities districts in the
preparation of annual reports and noticing, default workouts, and foreclosures. Prepared
Federal police grant applications with awards of $425,000. Processed planning applications for
commercial and industrial projects, including a one million square foot regional mall.
Education
Bachelor of Arts, Geography and Anthropology, California State University, San Bernardino
Certificate, Advanced Management Program, University of California, Riverside
Affiliations
Association of Environmental Professionals (AEP)
American Planning Association (APA)
Resumes
Page 5
• RSG
INTELLIGENT COMMUNITY DEVELOPMENT
Nancy Madrid
Rosenow Spevacek Group - Housing Program Administrator
Has developed and/or administered affordable housing second trust deed loan, residential
rehabilitation loan and other subsidy programs for the cities of La Quinta, Perris, Palmdale,
Commerce, Irwindale, Cypress, Carson, Huntington Beach, EI Cajon, Lemon Grove, and
Coronado. Housing program experience includes developer coordination, staff and lender
training, homebuyer lotteries, applicant eligibility review, document preparation, escrow
coordinatio�, annual monitoring activities, and project cost analyses.
Conducts Program Administrator andlor Oversight Agency requirements for multifamily and
mobile home park projects assisted by city, agency, and financing authority issued bond
funding. In this capacity, she has been involved in more than 36 affordable housing projects.
Assisted in feasibility studies and conducted eligibility review, rent subsidy and tenant
coordination issues for the conversion of mobile home parks by the San Marcos and Montclair
Redevelopment Agencies.
Has assisted with collection, organization and analysis of base data for the preparation of
necessary reports and documents and coordination of project area adoption requirements
including taxing agency, state and citizen not�cations. Conducted county-wide analysis of
housing programs. Coordinated subconsultant activities for the preparation of special studies
and environmental reports. She has worked in these capacities with the Counties of Orange
and Santa Barbara, and Cities of San Marcos, Encinitas, EI Cajon, La Quinta, Victorville and
Culver City.
City of Buena Park - Administrative Assistant
Assisted Director of Development Servioes and Deputy Executive Director of the City's
Redevelopment Agency, and served as Secretary to the Planning Commission. Coordinated
Planning Commission agenda materials with development application processing; insured state
required reports were submitted. Assisted with preparation and review of staff reports and
resolutions fo� action by the legislative body. Aded as department budget liaison for 4 years,
coordinating the financial requirements and activities of planning, building, and community
development divisions.
Resumes
Page 6
• RSG
INTELLIGENT COMMUNITY DEVELOPMENT
Michael Garcia
Rosenow Spevacek Group - Associate
Responsible for assisting with redevelopment plan adoptions and amendments, reai estate
acquisition and economic analysis services, project implementation activities, bond issues, and
planning and scheduling projeet activities. Assignments include feasibility analysis, land use
analysis, revenue projections, data analysis/gathering, database design/management, and
document preparation. Mr. Garcia has worked in this capacity fo� the Cities of Burbank, Santa
Ana, Bell Gardens, San Marcos, Rohnert Park, Port Hueneme, Et Monte, La Quinta, Lawndaie,
Stockton, Riverside, San Gabriel, Santa Barbara, Fountain Valley and Lemon Grove.
City of Santa Ana - Personnel Technician
Performed recruitmenUselection and classification/compensation duties for City departments.
Assisted in performing classification and compensation studies and reports, and completing
salary and benefit surveys. Assisted in answering Equal Employment Opportunity Commission
and Department of Fair Employment and Housing requests for information. Designed
databases for City programs and reporting requirements. Compiled information for employee
grievance and discipline investigations. Analyzed and drafted language for employee Union
provisions. Provided research assistance to other City departments for grant applications.
City of Santa Ana - Senior Administration Intern
Assisted in business retention and attraction activities of companies for the City. Marketed the
Enterprise Zone, Foreign Trade Zone and Fa�ade Improvement Rebate Program. Assisted in
implementing the Santa Ana Enterprise Zone. Coordinated the Fa�ade Improvement Rebate
Program for companies located in Redevelopment Project Areas. Conducted eligibility
verification for the Job Training Partnership Act and the Targeted Jobs Tax Credit. Conducted
surveys and presented findings.
Education
Masters, Public Administration, Concentration in Urban Planning and Management, California
State University, Fulle�ton
Bachelor of Arts, Political Science, University of California, Irvine
Memberships
Councilman, City of Santa Ana
Professional Certifications
Licensed Real Estate Salesperson, State of Califomia
Resumes
Page 7
• RSG
INTELIIGEN7 COMMUHITY DEVELOPMENT
Becky Caha
Rosenow Spevacek Group - Senior Analyst
Assists with organization and preparation of real estate acquisition documents, escrow and title
coordination, and coordination of property owner/tenant meetings. Ms. Caha has worked in this
capacity for the County of Orange and the Cities of Carson, Chino, EI Cajon, Irwindale, La
Quinta, Lemon Grove, and Orange,. Assists in the administration of low/mod housing and
subsidy programs including applicant eligibility review, document p�eparatian, escrow
coordination, and annual monitoring activities for the Coronado, Huntington Beach, Irwindale, EI
Cajon, La Quinta, Lemon Grove, Palmdale, and San Marcos Redevelopment Agencies.
Trans-National Escrow Corporation - Escrow Officer
Responsible for organization and compilation of all escrow documents for single family,
multifamily, and large development transactions. Responsibilities included preparatio� of
escrow documents, and coordination with title companies, lenders, real estate agents,
developers, and property owners.
Education
Bachelor of Arts, Liberal Arts, University of Redlands
Associate Arts, History/Political Science, Coastline Community College
Resumes
Page 8
• RSG
INTELLIGENT CCMMUNITY DEVELOPMENT
Jose Ometeotl
Rosenow Spevacek Group - Associate
Primary responsibilities include collection and evaluation of project related data, report
preparation, increment revenue analysis, assisting in redevelopment plan adoptions and
amendments, field surveys and the formulation of public revenue projections. Additional duties
include interfacing with clients, providing support to Principals, preparing agenda items for
presentation to and approval by public bodies and agencies.
Pioneer Valley Planning Commission- Community Development Planner
Prepared, implemented, and managed municipal grant funded projects such as infrastructure
improvements, social services, and housing rehabilitation and construction programs. Funds
managed were from such sources as CDBG, HOME, National Trust for Historic Preservation,
Rails to Trails and the EPA. Provided technical expertise in planning and development to
municipalities within the region. Partnered local, state and federal agencies to implement major
infrastructure projects.
City of Azusa Community Development Department - Intern
Primary duties were to act as "counter planner" for the Planning Division, coordinate
development proposals and conduct i'ie�d inspections of proposed projects. Drafted staff reports
to the Planning Commission and City Council regarding various entitlement requests. Additional
responsibilities included the preparation of Negative Declarations and Notices of Exemptions in
compliance with CEQA.
Education
Master of Planning, University of Southem California
Bachelor of Science, Urban and Regional Planning, Comell University, Ithaca, New York
Professional Affiliations
American Planning Association
Southern California Planning Congress
Resumes
Page 9
• RSG
INT6LLIGENT COMMUNITY DEVELOPMENT
Andrew Gee
Rosenow Spevacek Group - Senior Analyst
Primary responsibilities include the collection and evaluation of project-related data, formulation
of public revenue projections, and field surveys. Responsibilities also include report writing and
document preparation. Prior assignments include data collection, analysis, and document
preparation for various planning projects for Commerce, San Jacinto, Covina, Pittsburg, San
Pablo, and Fontana.
K. Hovnanian Forecast Homes - Planning Specialist
Worked with city departments to obtain building permits and clearances, and coordinated
submittals and schedules.
Wesco Homes and Development - Project Manager
Worked with city departments to obtain building permits and clearances, and coordinated
submittals and schedules. Involved in disposition of two large apartment complexes and pro
forma analyses analyzing potential development deals.
Little Tokyo Service Center - Planning Consultant
Prepared an analysis comparing two potential sites for an affordable housing low-income tax
credit funded project.
California Housing Finance Agency - Technical Assistant
Assisted in architectural review of multifamily and senior housing projects for Title 24
Accessibility requirements.
Education
Masters, Urban Planning, University of California, Los Angeles
Bache{or of Architecture, Califomia Polytechnic University, Pomona (Cum Laude)
Professional Affiliations
California Notary
Resumes
Page 10
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INTELLIGENT COMMUNITY DEVELOPMENT
Fernando Cazares
Rosenow Spevacek Group - Analyst
Primary responsibilities include collection and evaluation of project related data, tax increment
revenue analysis, assisting in redevelopment plan adoptions and amendments, preparation of
implementation and housing compliance plans, fiscal consultant reports, feasibility study, real
estate market research, field surveys and the formulation of public revenue projections.
Additional duties include preparing agenda items for presentation to and approval by public
bodies and agencies. Mr. Cazares has worked in this capacity for the Cities of Burbank,
Fontana, San Jacinto, Seal Beach, Lake Forest, Baldwin Park, and Pleasant Hill.
Cities of Watsonville and Santa Clarita - Administrative Analyst Intern
Principal responsibilities includes co-designing and implementing a quantitative and qualitative
evaluation of the city's Neighborhood Services Division, in particular analyzing the level of
consistency between program goals, staff activities, and community impact. Provided a set of
program and strategy recommendations for improvement of the Division's work to the
appropriate bodies.
Additional duties included conducting the Community Input efforts in the Spanish speaking
community for a joint City Council Planning Process by working with community, city, and
school leaders. Authored a report providing recommendations for a Plan of Action to address
needs ident�ed through the outreach work. Mr. Cazares also managed a capital improvement
project through design, which included preparing Caltrans forms and documents.
Education
Masters, Public Affairs, Urban and Regional Planning, Woodrow Wilson School, Princeton
University
Bachelor of Arts, Public Policy, Occidental College
Resumes
Page 11
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INTELLIGEHT COMMUNiTY OEVEIOPMENT
Beverly Wong
Rosenow Spevacek Group - Analyst
Primary responsibilities include the collection and evaluation of project-related data, review and
analysis of materials for compliance with program requirements, and preparation of reports on
findings. Responsibilities also include utilizing ArcView GIS for map creation and analysis and
assist principals and associates with document preparation.
City of Huntington Beach - Planning Intern
Conducted various research studies and surveys for Department of Planning, updated planning-
related documents, including Vacant Land Survey, ensured accuracy of application submittals,
and assisted planning staff.
City of Costa Mesa - Planning Intern
Conducted various research studies and surveys for Development Services Department,
prepared documents based on findings and presented findings to management, maintained
computer permit program, and assisted planning staff.
Education
Bachelor of Art, Social Ecology, University of California, Irvine
Resumes
Page 12
• RSG
INTEILIGENT COMMUNITY OEVELOPMENT
Lynn Kelly
Rosenow Spevacek Group - Analyst
Responsible for assisting with redevelopment plan adoptions and amendments, economic
analysis services, project implementation activities, bond issues, and planning and scheduling
project activities Assignments include feasibility analysis, revenue projections, housing and
five-year implementation plans, pro forma analysis, data analysis/gathering, database
designlmanagement, and document preparation. Assignments include projects with Pleasant
Hilt, San Jacinto, Yucaipa, Lake Forest, and San Bernardino.
City of San Dimas - Administrative Intern
Principle responsibilities included authoring the City's Natural Hazard Mitigation Plan and
coordinating the quarterly newsletter. Duties also included writing reports, spreadsheet
development, data collecYan, and legislation analysis.
City of Los Angeles, Mayor's Office of Economic Development - Housing
Intern
Worked with the Housing and Business Team in reorganizing the structure of the cu�rent
Housing Element and analyzing data for the development of potential housing for artists. Also
responsibie for researching, tracking, and analyzing legislation.
Primerica Financial Services - Assistant Personal Financial Analyst
Educated families on the fundamental principles of money and investment. Assisted in
conducting Financial Needs Analyses.
Education
Master of Public Policy, University of Southem California
Pursuing Master of Arts, Economics, University of Delaware
Bachelor of Arts, Economics and Political Science, University of Delaware
Professional Affiliations
American Society for Public Administration
Municipal Management Association of Southern Califomia
Resumes
Page 13
• RSG
INTEIIIGENT COMMUNITY DEVELOPMEH�
Nathan Moe
Rosenow Spevacek Group - Analyst
Responsibilities include research for document preparation, GIS-based analysis and map
creation, and parcel-level database analysis. Map creation and graphic production are major
parts of many reports. Geographic Information Systems (GIS) allow for analysis of project
areas as well as a graphic representation of notable areas within the project area.
Dakota County - Office of Planning, Planning Associate
Responsibilities included map creation for the Vermillion River Watershed Joint Powers
Organization plan and for various planning projects including county mining, property maps, and
transportation maps. Researched county transit operations and purchase of business database
for county use. Inventoried development throughout the county with coordination from city
governments.
Education
Bachelors of Arts, Urban and Regional Studies, University of Minnesota Duluth
Resumes
Page 14
• RSG
INTELLIGENT COMMUNITY DEVELOPMENT
Alejandra Zamora
Rosenow Spevacek Group - Analyst
Primary responsibilities include real estate acquisition, real estate economics, and comparable
sales analysis. Additional responsibilities include collection and evaluation of project-related
data, formulation of public revenue projections, and field surveys. Prior assignments include
data collection, analysis, and document preparation for various real estate and redevelopment
projects for Commerce, Pittsburg, Lynwood, and Bell Gardens.
U.S. Department of Housing and Urban Development - Program Analyst
Worked for the financial operations division of the Office of Affordable Housing Programs
(OAHP). Primary responsibilities involves the production of performance measurement reports
for participating jurisdictions nationwide. Responsibilities also involved analysis and evaluation
of performance, as well as the proposal of recommendations for improvement for various
community housing development organizations.
California Housing Finance Agency - Technical Assistant
Assisted in architectural review of multifamily and senior housing projects in the State of
California - market rate, affordable housing, and mixed use. Additional duties involved the
review of design and accessibility guidelines for loan approval, as well as ihe creation and
maintenance of the Agency's online portfolio.
KTGY Group Inc. - Intern
Assisted in the development of single and multifamily housing projects. Primary responsibilities
included the production of construction documents, illustrations boards, and color renderings.
Education
Master of Arts, Urban and Regional Planning, University of Michigan, Ann Arbor
Professional Certificate, Real Estate Development, University of Michigan, Ann Arbor
Bachelor of Science, Architecture, Southem CaliFomia lnstitute of Architecture, Los Angeles
Bachelo� of Science, A�chitectural Engineering, Universidad Central de Venezuela, Caracas,
Venezuela
Skills
Bilingual and Biliterate: English/Spanish
Professional Affiliations
Urban Land Institute
American Planning Association
Resumes
Page 15
QUALIFICATION FOR
REAL ESTATE FINANCIAL CONSULTANT
PREPARED FOR
MR. DENNIS M. COLEMAN
REDEVELOPMENT/HOUSING FINANCE MANAGER
CITY OF PALM DESERT
73-510 FRED WARING DRIVE
PALM DESERT, CA 92260
PREPARED BY
REAL ESTATE ANALYSIS SERVICES COMPANY
POST OFFICE BOX 2809, PALM DESERT, CA
TEL: (760) 340-1429; FAX: (760) 340-2041
EMAIL: LRWREASCO@AOL.COM
QUALIFICATION LETTER AND REFERENCES
IREASCO1
June 20, 2005
REAL ESTATE ANALYSIS SERVICES CO.
POST OFFICE BOX 2809, PALM DESERT, CALIFORNIA 92261-2809
Mr. Dennis M. Coleman
Redevelopment Finance Manager
CITY OF PALM DESERT
73-510 Fred Waring Drive
Palm Desert, CA 92260
TEL: (760) 340-1429; FAX: (760) 340-2041;
EMAIL: LRW REASCO a@AOL.COM
Coov to: Ms. Veronica Tapia
SUBJECT: RESPONSE TO AGENCY'S RFQ FOR FINANCIAL CONSULTING SERVICES,
Dear Mr. Coleman,
Thank you for asking my firm to respond to your RFQ for Real Estate Financial Consulting services to
the Palm Desert Redevelopment Agency (the "Agency"). I feel that my firm is exceedingly qualified to
provide a large range of consulting services to the Agency, including, but not limited to: (1). Real
estate financial analysis; (2). Financial feasibility studies of commercial projects and (3). Preparing
reports pursuant to Section 33433 of the California Health and Safety Code. We have been
successfully providing consulting services such as these, since 1983, to a diverse group of clients in
Southern California, including government entities, entrepreneurs, fund providers, real estate
developers and investors.
My firm is an unincorporated single proprietorship and I perform all the functions. We are located in
south Palm Desert, ten minutes away from City Hall, so we can respond very quickly to the Agency's
requirements for face-to-face meetings and to deliver and discuss completed reports and analyses.
We are completely computerized so we can correspond with our clients by email, including
down -loading and uploading proformas and completed reports and analyses.
Since 1994, we have devoted most of our time to performing a wide variety of consulting services to
the Agency and the City, such as analyzing and creating financial models of developers' proformas
and preparing comprehensive reports (with exhibits) on our conclusions. We have also reviewed the
business points of proposed agreements and prepared our recommendations for revising some
terms to better protect the Agency's interests. For all appropriate projects, we prepared 20-year
and present value projections of the City's and Agency's tax revenues from the projects.
--► Since 2003, we have been providing similar consulting services to the City of Indio.
CONSULTING FOR PALM DESERTP'PROPOSAL 2005"/LETTER 6-20-05 18-Jun-05 4:53 PM
REAL ESTATE ANALYSIS SERVICES COMPANY
- PAGE 2-
June 20, 2006
LETTER TO: Mr. Dennis M. Coleman
SUBJECT: RESPONSE TO AGENCY'S RFQ FOR FINANCIAL CONSULTING SERVICES,
Some of our most recent consulting assignments for the Aqencv and the Citv have been:
1. In collaboration with Paul Gibson, Director of Finance and City Treasurer, we prepared a five-
year forecast of General Fund revenue and expenses.
2. We prepared residual land value analyses for the 25,500 square foot site at Entrada as a site
for a restaurant, and as a site for a two-story office building.
3. We prepared a present value analysis of Starwood's timeshare proposal.
4. We reviewed the financial proformas for PDCC, LLC's proposal to renovate the Palm Desert
Country Club golf course property and to improve 95 lots to sell to a home builder; and
prepared a financial model of the proformas to determine the economic viability of the project.
5. We prepared a financial analysis of the RPM project to develop an apartment project with
an affordable component in the City, and recommended how the Agency could provide
financial assistance to the project.
6. Prepared a 33433 report, as required by the Health and Safety Code, for the proposed
property swap with Desert Wells 237, LLC.
7. We reviewed the Columbia Center proforma and prepared a financial model of the project
including the projected financial returns to the Developer and to the City.
8. Reviewed the proposed Sares-Regis multi -family housing development proformas and
prepared a financial model of the project.
9. Reviewed proposals from several companies desiring to sell energy conservation equipment
and services to the City, and prepared my recommendations as to the viability of the
proposals.
CONSULTING FOR PALM DESERT! -PROPOSAL 2005"/LETTER 6-20-05 18-.Jun-05 4:53 PM
REAL ESTATE ANALYSIS SERVICES COMPANY
- PAGE 3-
June 20, 2006
LETTER TO: Mr. Dennis M. Coleman
SUBJECT: RESPONSE TO AGENCY'S RFQ FOR FINANCIAL CONSULTING SERVICES,
In addition to the consulting services we have provided to the Agency, the following Is a
nartiial list of clients (and projects) for whom we have provided consulting services;
For the Citv of Indio:
(1). We prepared analyses of proposals from several automobile dealerships desiring to relocate to
the 1-10 Auto Mall, and from existing dealerships wishing to expand; (2). We prepared an analysis of
the Trendwest, Western Pacific and Landmark timeshare project and assisted in the final agreement
negotiations; (3). We reviewed and prepared a financial analysis of a developer's proposal to
develop an RV Mall, and assisted in the final agreement negotiation;
For all appropriate projects, we prepared analyses of Indio's projected 20-year and present value tax
revenue from the projects.
For other clients:
(1). We prepared an analysis of the positive economic impact of the McCallum Theater on the cities
of the Coachella Valley for Mr. Ted Giatis, Executive Director/CEO of the McCallum Theater; (2). We
prepared a financial feasibility study and financial analysis of the proposed conversion of the Autry
Hotel in Palm Springs to the Givenchy Spa Resort for Ms Rose Narva, the Developer/Proprietor; (3).
We prepared a financial feasibility study and financial analysis of the proposed Date Palm Freeway
Oasis project, a multiple -use commercial project to be developed on a 35 acre site in Cattledral
City, for Mr. Clemente Troncoso, President of the development company; 4). We prepared a financial
feasibility study and financial analysis of the proposed hotel and golf course project, to be developed
on land adjacent to the Fantasy Springs Casino, for the developers, Indian Wells Resort Investments.
REFERENCES:
1. Mr. Ted Giatis, Executive Director and CEO of the McCallum Theater
73000 Fred Waring Drive, Palm Desert, CA 92260; (760) 346-6505
2. Mr. Rudy Acosta, Director of Redevelopment and Economic Development, City of Indio
100 Civic Center Mall, Indio, CA 92202; (760) 342-6500
3. Mr. Carlos Ortega, City Manager, City of Palm Desert
73-510 Fred Waring Drive, Palm Desert, CA 92260; (760) 346-0611
CONSULTING FOR PALM QESERTf'PROPOSAL 2005" !LETTER 6-20-05 18-.tun-05 5:25 PM
REAL ESTATE ANALYSIS SERVICES COMPANY
- PAGE 4-
June 20, 2005
LETTER TO: Mr. Dennis M. Coleman
SUBJECT: RESPONSE TO AGENCY'S RFQ FOR FINANCIAL CONSULTING SERVICES
OUR PROFESSIONAL FEES AND ADDITIONAL BILLABLE EXPENSES:
Our monthly fee for providing the decribed consulting services to the Agency, on an as -needed basis,
will be the following: (1). for the first 25 hours of consulting services provided by my firm to the Agency
in a month, the fee will be calculated at $129.00 for each billable hour; (2). for the next 15 hours, the
rate will be $118.00; (3). for the next 10 hours, the rate will be $110.00; (4). for each subsequent hour
billed in the same month, the rate will be $97.00. For a 50 billing -hour month, the average hourly rate
would be $121.90.
At the beginning of each month, we will provide the Agency with an invoice of the amount due for
consulting services we provided to the Agency in the previous month; the invoice will be
accompanied by a complete description of the consulting hours.
There will be no charge for computer time or travel expenses except that for auto travel required
outside the Coachella Valley to complete a project assigned by the Agency, the mileage charge will
be $0.35 per mile. There will be no other billable expenses.
Once again, thank you for asking my firm to respond to your RFQ. I strongly believe that my firm is
eminently qualified to provide the consulting services you require, in a most timely manner and at a
reasonable cost.
As you requested, we are including copies of a previously completed: (1). real estate analysis and
report; and (2). 33433 report.
Sincerely,
Leo-na r& R. w&116
Leonard R. Wolk, President
Real Estate Analysis Services Company (REASCO)
CONSULTING FOR PALM DESERTNPROPOSAL 2005YLETTER 6-20-05 18-Jun-05 4.53 PM
RESUME
IREASCO1 REAL ESTATE ANALYSIS SERVICES CO.
POST OFFICE BOX 2809, PALM DESERT, CALIFORNIA 92261-2809
TEL: (760) 340-1429; FAX: (760) 340-2041;
EMAIL: LRW REASCO atiAOL.COM
June 20, 2006
RESUME OF: Leonard R. Wolk, 73413 Broken Arrow Trail, Palm Desert CA 92260
PROFESSIONAL CAREER ACCOMPLISHMENTS:
DATES:
1983 to present Mr. Wolk founded, and operates as President and CEO of, a financial consulting
company (REASCO). The firm provides computerized financial analyses and
financial feasibility studies of existing and planned commercial and industrial real
estate projects and business opportunities. The resulting output reports are
designed to clearly depict the economic viability of the projects or business
opportunities. The firm's clients include government entities, funding providers,
real estate developers and investors. The company also prepares reports
pursuant to the requirements of Section 3433 of the California Health and Safety
Code, and reviews proposed agreements and contracts.
1979 to 1983 Mr. Wolk co-founded, and operated as CFO and Vice President of Business
Development of, a computer consulting company (IVERSEN, WOLK AND
ASSOCIATES). The firm provided independent advice to CEO's of small -to -
medium -sized businesses on the optimum, cost effective computer systems
(hardware and software) to purchase or lease. As the client's agent we negotiated
directly with computer dealers and software providers to obtain the best
pricelperformance system, and the best maintenance terms for the client.
CONSULTING FOR PALM DESERTf'RESUME 6-20-05" 19-.tun-05 10:48 AM
REAL ESTATE ANALYSIS SERVICES COMPANY
- PAGE 2-
June 20, 2006
PROFESSIONAL CAREER ACCOMPLISHMENTS 4CONTINUED):
The following activities were accomplished for Honeywell information Systems,
a wholly -owned subsidiary of the Minneapolis Honeywell Corporation.
DATES:
1977 to 1979 As Western Regional Marketing Manager, Mr. Wolk successfully
managed the direct marketing efforts of seven sales branches in the
western states, for marketing computer time-share services to major
accounts.
1975 to 1977 As National Project Manager, Mr. Wolk developed and managed the
implementation of business plans and national marketing plans for profitably
marketing computer time-share services to major accounts throughout the United
States.
1972 to 1976 As Director of Customer Satisfaction for Western Operations, Mr. Wolk
developed and implemented programs to resolve problem situations which were
adversely affecting Honeywell's relationship with its computer customers in the
western portion of the United States.
1969 to 1972 As Major Accounts Manager, Mr. Wolk successfully managed the direct marketing
of Honeywell's complete line of computer systems and related products to major
accounts in Southern California.
CONSULTING FOR PALM DESERTP'RESUME 6-20-05" 19-Jun-05 10•48 AM
REAL ESTATE ANALYSIS SERVICES COMPANY
- PAGE 3-
June 20, 2006
PROFESSIONAL CAREER ACCOMPLISHMENTS (CONTINUED):
The following activities were accomplished for Honeywell information Systems,
a wholly -owned subsidiary of the Minneapolis Honeywell Corporation (continued).
DATES:
1961 to 1969 As Senior Engineer, Mr. Wolk was responsible for the successful design of
computer hardware and software systems which were marketed world-wide.
EDUCATION: Mr. Wolk earned a Master of Science degree and a Batchelor of Science degree,
both in Electrical Engineering, from Northeastem University in Boston,
Massachusetts.
Mr. Wolk has successfully completed advanced courses in real estate law, real
estate appraisal and real estate finance.
Leor"w&?Z. W&M,
Leonard R Wolk, President
Real Estate Analysis Services Company (REASCO)
CONSULTING FOR PALM DESERTP'RESUME 6-20-05" 19-.tun-05 10 48 AM