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Agreement with Hinderliter, de Llamas & Associates <br />October 18, 2016 <br />Page 4 <br />median/average sales price of property sales, completed construction projects <br />for tracking of reassessments. <br />2. Successor Agency services, such as, tax increment projections for each Project <br />Area, cash flow estimates for the Successor Agency, estimates of property tax <br />revenues to be received by the taxing entities of the Project Area <br />3. Property Tax analysis and identification of misallocations <br />4. Property Tax web -based software application, which will enable staff to access <br />the City's Property Tax data and be able to extract, analyze, and utilize the <br />available data. <br />5. Assist in the development of a multi-year Property Tax revenue forecast model <br />6. Legislative analysis regarding pertinent Property Tax legislation and regulations <br />7. Ongoing consultation on all aspects of the auditing program <br />As part of the submitted Hotel Visitors' Tax proposal and agreed terms for the Hotel Visitors' Tax <br />auditing services, HdL will train the City's Revenue and Contract Compliance Examiner and <br />related City or contract staff to perform industry best practices audits as well as implement a <br />three phased business friendly approach to the audit program, which includes: <br />1. Hotel Visitors' Tax Analysis, including comprehensive review of City ordinance, <br />procedures pertaining to the Hotel Visitor's Tax and review of the most recent 48 <br />months of Hotel Visitors' Tax filings <br />2. Lodging Provider Audits, up to 50 audits over the life of the agreement <br />3. Monitoring, Reporting and Compliance <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item allows the City to meet Goal #4 City Financial Stability, Objective #2 <br />(maintain a stable, efficient and transparent financial environment), Strategy 2a (adopt a budget <br />that is in alignment with the five-year financial forecast and strategic plan). <br />FISCAL IMPACT <br />Property Tax <br />Funds in the amount of $84,750, which are comprised of the amount for the first two years of the <br />agreement equaling $56,500, which includes a $10,000 contingency, and the amount for the <br />optional one-year extension of $28,250, which includes a $5,000 contingency, are available in <br />the General Fund Property Tax account (01102002-50011). Payments made to HdL will be <br />recognized when the fees related to HdUs auditing and reporting activities are incurred. <br />25B-4 <br />