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<br />AGREEMERIT F®R REAL. ESTATE <br />C®PdSIDLTIfdG SER9PICES 16VITIi <br />®VERLAIV®, PACIFIC AN® CUTLER, IIVC. <br />~' )p/r / ,r '1 <br />° EXECIJTI!!E ®IRE~r®R <br />REC®~IE~B~E® AC`fi~ <br />A~~c~ ~EC~~rAR~ u~E ~~t_~a <br />AP~ROVEa <br />l~ As Recornmended <br />^ As Amended <br />[] Ordinance, on 4~' Reading <br />^ Ordinance on 2ntl Reading <br />Implementing Resolution <br />~ Se4 Public Hearing For <br />CONTItdUED TO <br />F&LE NUhAr3ER <br />Authorize the Executive Director and Agency Secretary to execute the attached agreement with <br />Overland, Pacific & Cutler, Inc., subject to non-substantive changes approved by the Executive <br />Director and Agency General Counsel, to provide real estate consulting services, in an amount not <br />to exceed $100,000. <br />DISCUSSI®N <br />The Community Redevelopment Agency acquires property for the purpose of furthering its goals of <br />fostering commercial development and affordable housing. To that end, the Agency requires the <br />services of a professional firm that is knowledgeable and experienced in both commercial and <br />residential real estate activities as conducted by public agencies. Overland, Pacific and Cutler, <br />Inc. (OPC) is a real estate services firm that has provided a wide variety of such services to <br />hundreds of clients throughout fihe United States. Its services include, but are not limited to, <br />appraisals, property acquisition, commercial and residential relocation, property maintenance, and <br />expert witness testimony. <br />OPC has assisted the Agency with various real estate related activities since 1999. In particular, <br />OPC has assisted the Agency with the maintenance of properties it has acquired in the Station <br />District, as well as assisting the Agency in meeting its obligations under State law to provide <br />appropriate relocation benefits to tenants residing in those same residences. <br />The proposed $100,000 contract (Exhibit 1) will enable the Agency to continue using OPC to <br />support its activities in the Station District, as well as for other projects that may be approved in the <br />future. The contract will expire upon the expenditure of the funds or its replacement by another <br />Agency-approved contract. <br />3®3 <br />