Laserfiche WebLink
File Number: 19-528 <br />long-term nature of the lease, staff has utilized the assistance of Keyser Marston Associates <br />(KMA) throughout the development of the Shoreline Project. Keyser Marston has assisted with <br />evaluation of project feasibility and business terms, as well as negotiations with Cal-Coast and <br />development of the agreements for the project. KMA has expertise in financial and market <br />analysis, public-private and ground lease negotiations and experience working with cities in <br />negotiating leases. KMA specializes in public-private real estate development, specifically the <br />evaluation and negotiations of transactions that achieve the goals and objectives of both the <br />public sector and private developer. <br />An initial Consulting Services Agreement (CSA) was established with Keyser Marston in 2008 to <br />assist with review and evaluation of developer proposals. Following selection of Cal-Coast <br />Development, a second CSA was established with KMA in 2015 to assist staff in evaluating the <br />project and developing terms and agreements. Following expiration of this agreement, the <br />current CSA was established in 2018 to continue such work. <br />Since 2008, Keyser Marston has assisted with the following tasks for the project: <br />·Review and evaluation of developer proposals for the Master Developer for the project; <br />·Review City goals and objectives and help establish a negotiating strategy; <br />·Evaluate financial return on the publicly owned asset and identify possible public financing; <br />·Review financial information from the developer and equity partner and other submittals, <br />including market studies, conceptual programs and phasing, development pro forma by land <br />use, site development costs, and debt and equity requirements; <br />·Review financial feasibility based on development program and pro forma; <br />·Assist in preparing business terms for agreement term sheets; <br />·Assist in negotiation of agreements, assisting in establishing primary and secondary <br />negotiating positions, updating business terms, and attending negotiating meetings; <br />·Review Development Agreement, Ground Lease Agreements, and Purchase and Sale <br />Agreement, provide feedback based on financial and feasibility analysis; and <br />·Assist in preparation of presentations to the City Council. <br />Under the current CSA, KMA is providing the following assistance to the City: <br />·Review of financial feasibility based on development program and pro forma; <br />·Review and provide comments on draft Development Agreement and its attachments, <br />including Lease Agreements and Purchase and Sale Agreement; <br />·Assist in negotiations with Cal-Coast; <br />·Assist staff in preparation of documents for public hearing with the City Council; <br />·Participate in meetings with staff, legal counsel, development team and City Council; and <br />·Other tasks as may be requested. <br />An amendment to the current CSA in the amount of $45,000 is requested at this time so that KMA <br />may continue assisting in the completion of project negotiations, finalization of documents, and <br />presentations to the City Council and public. <br /> <br />Previous Actions <br />·On May 5, 2008, the City entered into a Consulting Services Agreement (CSA) with Keyser <br />Marston Associates, Inc. for Review and Evaluation of Developer Proposals for the Master <br />Page 3 City of San Leandro Printed on 10/16/2019 <br />290