25A - HDL COREN & CONE PROPERTY TAX AGREEMENT

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First Amendment to Agreement HdL Coren & Cone December 17, 2019 Page 2 As part of its City of Santa Ana Property Tax program HdLCC provides the following services: 1. Property Tax reporting services including, but not limited to: City Property Tax Roll Summary, top 40 net taxable change history, top 40 value change listing, median/average sales price of property sales, completed construction projects for tracking of reassessments. 2. Successor Agency services, such as, tax increment projections for each Project Area, cash flow estimates, and estimates of property tax revenues for the Project Area. 3. Property Tax analysis and identification of misallocations. 4. Property Tax web -based software application, which will enable staff to access the City's Property Tax data and be able to extract, analyze, and utilize the available data. 5. Assist in the development of a multi -year Property Tax revenue forecast model. 6. Legislative analysis regarding pertinent Property Tax legislation and regulations. 7. Ongoing consultation on all aspects of the auditing program. Staff Recommendation Continuing to engage HdLCC will enable the City to conduct audits that can recover additional revenue for the City, as well as ensure compliance with tax regulations, provide early indications of trends for the regional economy, and ensure revenues generated within city boundaries are properly allocated, assigned and remitted to the City of Santa Ana on a timely basis. In consideration of HdLCC's outstanding responsiveness to staff requests during their initial contract period (typically within 24 hours of request) and their level of service (analysis, full data and graphics), staff recommends a one-year extension of the HdLCC agreement via City Council approval of a First Amendment to Agreement extending HdLCC's contract with the City from January 1, 2020 to December 31, 2020. Staff plans to release an RFP during 2020 to ensure the City continues to receive competitive service and pricing. STRATEGIC PLAN ALIGNMENT Approval of this item allows the City to meet Goal #4 - City Financial Stability, Objective #2 (Maintain a stable, efficient and transparent financial environment), Strategy A (Adopt a budget that is in alignment with the five-year financial forecast and strategic plan). FISCAL IMPACT Funds in the amount of $28,250, which are comprised of the $23,250 amount for the one-year extension of the current agreement, combined with a $5,000 contingency, are available in the General Fund Property Tax account (01102002-50011). Payments made to HdLCC will be recognized when the fees related to HdLCC's auditing and reporting activities are incurred. The payments within the 2019-2020 and 2020-2021 fiscal years will be available as follows: 25A-2