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Agreement with Orrick, Herrington & Sutcliffe LLP for Bond Counsel Services <br />July 15, 2025 <br />Page 2 <br />Firm <br />Average Score <br />Orrick, Herrington & Sutcliffe LLP <br />94 <br />Hawkins Delafield & Wood LLP <br />92 <br />Best Best & Krieger <br />84 <br />Based on the evaluation criteria, staff recommends the City Council approve an <br />agreement with Orrick, Herrington & Sutcliffe LLP ("Orrick") to provide on -call bond <br />counsel services for the Housing Authority (Exhibit 2). <br />The Housing Authority has worked with Orrick since 1992 with four (4) prior agreements <br />providing similar bond counsel legal services. The most recent agreement with Orrick <br />expired on May 31, 2025 and allowed Housing Authority staff to work with Orrick for <br />specific legal questions for bonds that had been issued by the Housing Authority in the <br />past. <br />Orrick has been ranked the No. 1 bond counsel firm in the country for the last 25 years <br />and is the leading practice in California and in the country for financing multifamily housing <br />with tax-exempt bonds. Orrick's proposal demonstrated exceptional qualifications, <br />service offerings, and competitive pricing. Their national and California market leadership, <br />comprehensive on -call services, highly qualified personnel, and strong references set <br />them apart from other respondents. This on -call agreement with Orrick will allow the <br />Housing Authority and the City to be prepared when a developer is interested in using <br />bond financing for an affordable housing project and for the maintenance of the City's <br />existing bond financing contracts. <br />FISCAL IMPACT <br />Funding is available in the FY 25-26 under the Housing Authority Contract Services — <br />Professional account (no. 14018760-62300). Subsequent funding and the renewal <br />options, if exercised, will be budgeted in future fiscal years for expenditure as shown in <br />the table below: <br />Fiscal <br />Accounting Unit — <br />Fund Description <br />Accounting Unit, <br />Amount <br />Year <br />Account # <br />Account Description <br />Contract (3-Year Term) <br />FY 25-26 <br />14018760-62300 <br />Housing Authority — <br />Contract Services — <br />$30,000 <br />Voucher Admin <br />Professional <br />FY 26-27 <br />14018760-62300 <br />Housing Authority — <br />Contract Services — <br />$30,000 <br />Voucher Admin <br />Professional <br />FY 27-28 <br />14018760-62300 <br />Housing Authority — <br />Contract Services — <br />$30,000 <br />Voucher Admin <br />Professional <br />Optional Two, 1-Year Extensions <br />FY 28-29 <br />14018760-62300 <br />Housing Authority — <br />Contract Services — <br />$30,000 <br />Voucher Admin <br />Professional <br />FY 29-30 <br />14018760-62300 <br />Housing Authority — <br />Contract Services — <br />$30,000 <br />Voucher Admin <br />Professional <br />Total Contract Amount <br />$150,000 <br />