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CITY OF SANTA ANA COMMUNITY DEVELOPMENT AGENCY - <br />· AFFORDABLE HOUSING FINANCIAL, ANALYTICAL & ADVISORY SERVICES <br />A.PROPOSED FEE AND Tl MELINE FOR SAMPLE ASSIGNMENTS <br />Subsidy Layering for an Affordable Multi-Family Project <br />The technical components of a subsidy layering analysis can be completed at a budget in a range of <br />· $13,000 within a three to four-week time frame. However, this timeframe is dependent on the <br />accuracy of the (leveloper's submittal and the timeliness on responses from the developer. This <br />budget does not include KMA participation in the negotiations or transaction structuring process, <br />which vary widely based on the transaction's level of complexity. <br />Financial Advisory Services for a Multi-Family Bond Issuance <br />Based on the scope of bond advisory services described in Exhibit A of this proposal, KMA estimates· <br />the fee related to a multi-family bond issue in the range of $20,000. The KMA services would be <br />provided throughout the negotiations, structuring and financing process for a project. <br />This can be accomplished in as few as 90 days, but the process is more likely to require six months or <br />more to complete. <br />VII.DISCLOSURES AND DISCLAIMERS <br />City represents, acknowledges and agrees that: <br />1.KMA is not advising or recommending any action be taken by the City with respect to any <br />prospective, new or existing municipal financial products or issuance of municipal securities <br />(including with respect to the structure, timing, terms and other similar matters concerning <br />such financial products or issues); <br />2.KMA is not acting as a municipal advisor to City and does not assume any fiduciary duty <br />hereunder, including, without limitation, a fiduciary duty to City pursuant to Section 15B of the <br />Exchange Act with respect to the services provided hereunder and any information and <br />material contained in Consultant's work product; and <br />3.City shall discuss any such information and material contained in KMA's work product With any <br />and all internal and/or external advisors and experts, including its own municipal advisors, that <br />it deems appropriate before acting on the information and material. <br />Keyser Marston Associates, Inc. Page I 20 <br />EXHIBIT 1