Item 23 - Adopt a Resolution and Approve Agreement for Tax Revenue Auditing, Analysis, Forecasting, and Reporting Service

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EXHIBIT A PROPERTY TAX, PROPERTY TAX IN -LIEU OF VEHICLE LICENSE FEES, RESIDUAL ALLOCATIONS FROM THE REDEVELOPMENT PROPERTY TAX TRANSFER FUND SECTION 1: SCOPE OF SERVICES 1. ANNUAL SERVICES 1.1. Annually, after the Property Tax Roll is available: a. CONSULTANT shall establish a Database for CITY available through CONSULTANT'S online property tax application b. Utilizing the Database, CONSULTANT will provide: • A listing of the major property owners in the CITY, including the assessed value of their property. • A listing of the major property tax payers, including an estimate of the property taxes. • A listing of property tax transfers which occurred since the prior lien date. • A listing of parcels that have not changed ownership since the enactment of Proposition XIIIA. • A comparison of property within the CITY by county -use code designation. • A listing by parcel of new construction activity utilizing city building department data, including building permits with assessor parcel numbers and project completion dates, to identify non-residential parcels with new construction activity and to provide reports for use in the CITY's preparation of Gann (Propositions 4 and 111) State Appropriation Limit calculations. • A listing of multiple owned parcels. • A listing of absentee owner parcels. • Calculate an estimate of property tax revenue anticipated to be received for the fiscal year by the CITY. This estimate is based upon the initial information provided by the County and is subject to modification. This estimate shall not be used to secure the indebtedness of the CITY. • Development of historical trending reports involving taxable assessed values for the CITY, median and average sales prices, foreclosure activity and related economics trends. • One and five-year budget projections for the city general fund • Newsletter summary for public and elected distribution. • Upon written request, analyses based on geographic areas designated by the CITY to include assessed valuations and square footage computations for use in community development planning. • New construction value comparison for use in the alternate Gann Limit calculation c. Review the secured and unsecured lien to rolls to identify and correct any misallocated assessments to ensure they are correctly allocated to the City 2. SUCCESSOR AGENCY SERVICES 2.1. Successor Agency Services including but not limited to: a. Tax increment projections b. Review of Redevelopment Obligation Payment Schedules as requested c. Provide property tax information to the Oversight Board at the direction of the Successor Agency.