Item 02 - First Amend. to On -Call Agree. for Affordable Housing Financial, Analytical, and Advisory Services

Home Browse Search

FIRST AMENDMENT TO AGREEMENT TO PROVIDE ON -CALL AFFORDABLE HOUSING FINANCIAL, ANALYTICAL AND ADVISORY SERVICES (Keyser Marston Associates, Inc.) THIS FIRST AMENDMENT ("First Amendment") to the above referenced agreement is entered into this 10h day of May, 2023, by and between Keyser Marston Associates, Inc., a California corporation ("Consultant"), and jointly the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California ("City"), and the Housing Authority of the City of Santa Ana, a public body, corporate and politic ("Authority"). City and Authority shall jointly or interchangeably, as applicable, be referred to as "City" for purposes of this First Amendment. RECITALS A. On November 16, 2021, the City entered into Agreement #A-2021-229-01 ("Agreement"), with Consultant to provide on -call affordable housing financial, analytical and advisory services for general multifamily affordable housing financial advisory services; general single family affordable housing program financial analytical services; multifamily and/or single family bond issuance financial advisory services; and the City's Inclusionary Housing Program financial analysis on an as -needed basis. B. The Agreement is one of three agreements for vendors selected in response to RFQ No. 21-107. The Agreement provides for each Consultant to share in an aggregate compensation amount for the on -call services detailed in the Agreement. The Agreement runs through November 1, 2024, includes the ability to extend its term upon a writing executed by the City Manager and the City Attorney, and is current and in -effect. C. The parties now wish to amend the Agreement to update the current fee schedule, increase the overall compensation amongst the selected vendors by $250,000.00, and agree to extend the term of the Agreement by two (2) years. The increase in compensation is to accommodate an exhaustion of funds. Consultant assisted with extensive financial analyses and technical support for major City projects. There are additional pending projects and updates of manuals that still require the assistance of Consultant. NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the terms and conditions of said Agreement, except as herein modified, the parties agree as follows: 1. Section 2.a, COMPENSATION, shall be amended to read in its entirety as follows: a. City neither warrants nor guarantees any minimum or maximum compensation to Consultant under this Agreement. Consultant shall be paid only for actual services performed under this Agreement at the rates and charges identified in Exhibit B-l.. Consultant is one of three (3) Consultants selected to provide affordable housing financial, analytical, and advisory services on an as needed basis under RFQ No. 21-107. The total compensation for services provided by all Consultants selected under RFQ No. 21-107 is a collective amount not to exceed