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Agreements with Paragon Partners and <br />Overland, Pacific and Cutler for <br />Real Estate Consulting Services <br />September 19, 2005 <br />Page 2 <br />DISCUSSION <br />The Redevelopment Agency has an obligation to increase, improve and <br />preserve affordable housing within the City of Santa Ana. Under <br />California law, the Agency is required to replace affordable housing <br />units that are removed from the City's housing stock as a consequence of <br />its activities. Additionally, it is required to ensure that at least <br />fifteen percent of new and substantially rehabilitated housing units <br />developed within Redevelopment project areas are affordable to low- and <br />moderate - income households. As part of its efforts to meet these <br />obligations, the Agency engages in many kinds of real estate activities. <br />As a consequence, the Agency requires the services of consultants to <br />assist in property acquisitions, relocation of businesses and residents, <br />management of Agency -owned properties, and other tasks relating to real <br />estate. Recently the Public Works Agency requested proposals from <br />qualified firms for real estate services and ranked the respondents on <br />the basis of qualifications, past experience, and capacity to perform the <br />required tasks. The successful proposals were submitted by Paragon <br />Partners and Overland, Pacific and Cutler. These firms are currently <br />providing real estate consulting services to the Agency under agreements <br />approved on April 7, 2003, and February 10, 2001, respectively. It is <br />recommended that the Agency enter into a new agreement with Paragon <br />Partners for an amount not to exceed $200,000 and with Overland, Pacific <br />and Cutler for an amount not to exceed $100,000. <br />FISCAL IMPACT <br />Funds for these contracts are available in the Tax Increment Housing Set - <br />Aside account (Account #507- 508 - 6291). <br />,0K2atriciaQC. Whitaker <br />Executive Director <br />PCW /TG /mlr <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />C���LLmLcciC li- ��GGE'pCI�J <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency /K <br />H: \ACTIONS \ZOOS CRA\ AgreesParagonOverlandPacificCutlerRealEstateConsultSery 9- 19- 05.doc <br />4 -2 <br />