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REQUEST FOR <br />AGENCY ACTION <br />AGENCY BOARD MEETING DATE: <br />NOVEMBER 17, 2008 <br />TITLE: <br />AGREEMENT WITH CSG ADVISORS, INC. <br />FOR FINANCIAL CONSULTING SERVICES <br />EXECUTIVE DIRECTOR <br />RECOMMENDED ACTION <br />AGENCY SECRETARY USE ONLY: <br />/y)0fgV" jJ //are <br />APPROVED <br />® As Recommended ?"'o <br />❑ As Amended <br />❑ <br />Ordinance on 1s' Reading <br />❑ <br />Ordinance on 2nd Reading <br />❑ <br />Implementing Resolution <br />❑ <br />Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the Executive Director or designee and Agency Secretary to <br />execute the attached agreement with CSG Advisors, Inc. in an amount not <br />to exceed $80,000, subject to non - substantive changes approved by the <br />Executive Director and Agency General Counsel. <br />DISCUSSION <br />The Community Development Agency of the City of Santa Ana creates and <br />implements programs that eliminate slum and blight within its project <br />area and that offer economic development and affordable housing <br />opportunities within the City. Periodically, Agency staff requires <br />professional consulting services to ensure the economic viability of the <br />design and implementation of these programs. <br />CSG Advisors, Inc. (CSG) is a nationally recognized financial consulting <br />firm with offices in Atlanta, New York, San Francisco and Cleveland. The <br />firm specializes in bond financing, development negotiations, and <br />financial strategies and programs. They have assisted in the structuring <br />of more than $60 billion in bond sales and serves as financial advisor to <br />more than 75 local governments and 15 state housing finance agencies. In <br />addition, CSG has been a national consultant to the federal government <br />working with distressed properties through the Resolution Trust <br />Corporation and with the Department of Housing and Urban Development to <br />evaluate FHA multi- family refunding requests. CSG has served as the <br />financial advisor to the Housing Authority of the City of Santa Ana for <br />all past tax - exempt bond issuances and is currently working with the <br />Agency and Authority on various projects including the new Federal <br />Neighborhood Stabilization Program. <br />3 -1 <br />