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201 w third street <br />201 west third street <br />201 w 3rd street <br />201 w 3rd st <br />3rd and broadway <br />third and broadway <br />3rd & broadway <br />third & broadway <br /> <br /> <br />REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />AUGUST 5, 2014 <br />TITLE: <br />AGREEMENT FOR DEVELOPMENT AND <br />REAL ESTATE ADVISORY SERVICES <br />WITH KOSMONT COMPANIES FOR <br />PROJECTS LOCATED AT 1660 EAST <br />FIRST STREET AND 201 WEST THIRD <br />STREET <br /> c <br />CITY MANAGE <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 16' Reading <br />❑ Ordinance on 2 r Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For,_ <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Manager and the Clerk of the Council to execute the attached agreement <br />with Kosmont Companies in an amount <br />an option to renew for an additional year <br />City Manager and City Attorney. <br />DISCUSSION <br />not to exceed $60,000, for a period of two years with <br />, subject to non - substantive changes approved by the <br />As the City continues to move forward on two large joint- venture development opportunities at <br />the Elks Lodge Site (1660 East First Street) and the 3rd and Broadway parking structure (201 <br />West Third Street) it is critical that staffing for these projects be available to support this effort. <br />With the loss of key staff with expertise in development/project management, there is a need to <br />fill that void on a temporary basis with consultant services so the City can continue its momentum <br />in developing these significant projects. <br />Kosmont Companies will provide expertise and advisory consulting services for the completion of <br />a preliminary highest and best use analysis and entitlement constraints assessment for the Elks <br />Lodge site in conjunction with surrounding properties such as the Santa Ana Zoo site. The <br />proposal also includes an analysis of the re -use and development potential for the City's parking <br />structure located on 3rd Street and Broadway in the City's downtown. Consulting services and <br />deliverables will include: Site and local area analysis, market analysis, highest and best use <br />analysis, assistance with negotiations and financial analysis. <br />Kosmont Companies has the requisite specialized skills and is a nationally recognized expert in <br />the area of financial advisory, economic development services and real estate development <br />projects involving government and private sector partnerships. <br />2513-1 <br />