HomeMy WebLinkAboutCutler & Associates, Inc. - 1992-10-056
REQUEST FOR REDEVELOPMENT AGENCY ACTION
ED-92-47
Date: OCT. 5, 1992
Submitted to: Honorable Chairman and Redevelopment Age cy Members
Submitted by: Michael T. Uberuaga, Executive Dire
Prepared by: Barbara A. Kaiser, Deputy City Administrator/Economy is
Development
Subject: APPROVAL -OF CONTRACT BETWEEN THE REDEVELOPMENT
AGENCY AND CUTLER & ASSOCIATES, INC., FOR PROPERTY
ACQUISITION SERVICES.
Consistent with Council/Agency policy? [Xl Yes I I New Policy or Exception
Ststement of Issue. Recommended Agency Action. Analysis. Funding Sourc . Alternative Actions. AttachmentsL-01VIVI
Statement Issue:
vV f-
Staff is requesting approval of a contract with Cutler & Associates to provide the Redevelopment
Agency with property acquisition services.
Recommended Agency Action:
/.9
Approve and authorize the execution of the attached two year contract not to exeed $30,000
between the Redevelopment Agency of the City of Huntington Beach and Cutler & Associates, Inc.
Analysis:
A two year contract between the Redevelopment Agency of the City of Huntington Beach and
Cutler Associates, Inc. is attached as Attachment 1. The contract limits expenditures to $30,000
cumulatively for FY 92/93 and FY 93/94, thus budgeting $15,000 per year for acquisition
consultant services and subject to annual budget appropriations. The two year contract will provide
consulting services at the same rate for the two year period and will eliminate the need to request
proposals and interview annually.
Cutler & Associates, Inc., first successfully garnered a contract for services with the
Redevelopment Agency beginning in 1988 and by three subsequent amendments extended their
contract into 1991. This contract is a new contract, not an amendment of the 1988 contract.
Cutler & Associates, Inc., has a Huntington Beach business license and has the required insurance
certificates for professional services (see Attachment 2).
The provisions of Huntington Beach Municipal Code Section 3.03 regarding contracts for
professional services has been met through a formal Request for Qualifications (RFQ). Four firms
out of the ten met the deadline to respond to the RFQ (see Attachment 3), mailed in July 1992.
Staff studied the responses and determined that Cutler & Associates, Inc., is competitive in their
fee structure and had the experience most pertinent to the Agency's work. The other firms
responding to the RFQ are included as Attachment 4.
The acquisition consultant will primarily work on assisting the Agency complete the acquisition of
the encyclopedia lots in the Talbert -Beach Project Area and in formulating site consolidation
strategies and negotiations in the Main -Pier Project Area. Sufficient funding is approved in the FY
92-93 budget.
Although there is no legal requirement to hire a private consultant, staff recommends using a
professional property acquistion consultant. The costs to have this level of expertise on staff would
be greater than through the contracted acquisition consultant. The property acquisition consultant
can provide access to valuable real estate market information and provide expertise specialized to
the needs of redevelopment on an as needed basis.
Alternative Actions:
1. Do not approve the contract.
finding -Source:
Main -Pier Project Area, Contractural Services Account: E-TNI-ED-810-3-90-00
Talbert -Beach Project Area, Property Acquisition Account: E-TT-ED-810-6-60-00
Attaghme131s:
1. Cutler & Associates, Inc., Contract
2. Insurance Certificate and Business License
3. Request for Qualifications
4. List of Respondents
REQUEST FOR...,IEDEVELOPMENT Ate.: NCY ACTION
T
EA 92-49
Date October 5, 1992
Honorable Chairman and Redevelopment Agency Members
Submitted to:
Michael T. Uberuaga, Executive Director
Submitted by: -
Barbara A. Kaiser, Deputy City Administrator/Economic Development
Prepared by:
Subject: APPROVAL OF SANWA BANK LETTER OF CREDIT - MAIN PIER
REDEVELOPMEEN'T PROJECT AREA
Consistent with Council Policy? [ ] Yes pQ New Policy or Exception.
Statement of Issue, Recommendation, Analysis, Funding Source, Alternative Actions, Attachments:
" : munne*612
The Redevelopment Agency has the need for a short term borrowing to accomplish
additional redevelopment objectives within the Main -Pier Redevelopment Project area.
The proposed bank letter of credit provides this short term capital without the large
scale effort and costs associated with a bond issue.
Accept and authorize the appropriate Agency officers to execute the attached
commitment letter from Sanwa Bank of California, dated August 31, 1992 and direct
the preparation of the appropriate loan documents to be returned to the Agency at a
subsequent meeting.
As part of the budget planning process, Agency staff identified four potential projects
which would further the Agency's objectives within the Main -Pier Redevelopment
Project area. These projects included:
1. Acquisition of the RTC's interest in the Town Square Commercial;
2. Expansion of the Surf Museum to accommodate the Conference and Visitors
Bureau;
3. Willing seller acquisition of parcels for future redevelopment projects; and
4. Acquisition of a site for affordable housing
The Redevelopment Agency Tax Increment is not sufficient to permit payment in cash
and in full for these activities from the current year budget. Under these
circumstances, traditionally, the Redevelopment Agency has either borrowed from the
City's general fund or sold bonds predicated on future tax increment. The current
budget situation makes the first alternative unavailable at this time and the Agency
recently completed a major refunding bond issue. Since the cash needs for the
activities under discussion here are relatively short term the effort and costs to mount
an additional bond issue for a relatively small amount of funds for a short term are not
warranted.
Agency staff earlier this year commenced discussions with several lending institutions
who had expressed interest in participating in the Agency's projects. All told, staff
discussed the Agency's credit needs with six financial institutions and of these, four
submitted formal proposals to offer credit to the Redevelopment Agency. The Sanwa
Bank Commitment Ietter is included as Attachment No. 1 and a summary of the uses
and terms of the line of credit and the maximum obligation for repayment are
summarized in Attachment No. 2. Basically, the letter of credit is for $3.2 Million at a
variable rate, now approximately 8 percent, with monthly principal and interest
payments due and amortized on a fifteen year basis, with all amounts due in three
years. Security for the loans would be trust deeds against the real property acquired.
The terms of the proposed Sanwa Bank Letter of Credit have been reviewed and
endorsed by the city's financial advisor, Kelling, Northcross and Norbriga, Inc.
(Attachment No. 3 letter of September 2, 1992) and by the City/Agency's most
frequently used underwriter, Stone and Youngberg (Attachment No. 4 letter of August
31, 1992). In both cases these financial professionals indicate that the use of a letter of
credit under the current circumstances is more economical to other forms of borrowing
by the Redevelopment Agency.
An analysis of the unaudited fund balance for the Main -Pier Redevelopment Project
area indicates that there are more than adequate funds available to make principal and
interest payments on the full amount of the letter of credit (a summary is included on
Attachment No. 2). It is important to note that the Sanwa Bank Commitment letter
provides for a maximum loan amount which likely exceeds that actually to be borrowed
by the Redevelopment Agency since loan to value ratios are limited in most cases to 50
percent.
FiNsI" M-1V-1 _ffX"—V EONIE
Do not accept the Sanwa Bank Letter of Credit.
1e • • '
Main Pier Redevelopment Project Area Tax Increment.
MTU/BAK/SVK:jar
54j
--7%TTACi9MENT No. 1
Sanwa Bank Huntington beach Office 6881 Warner Avenue
CcllfornIo HunlinClon Death, California 92647
(714) 842.7741
August 31, 1992
. r-
Stephen Kohler
Redevelopment Agency of the
City of Huntington Beach
2000 Main Street
Huntington Beach, California 92647
Dear Mr. Kohler:
1 an pleased to confirm Sanwa Bank California's (SBCL) commitment
in general to provide the Redevelopment Agency of the City of
Huntington Beach (borrower) with the following credit facilities
for use on 4 separate subject sites:
£rUB.7ECT<SYTErl
4th Block East
Loan Structure
1) A nonrevolving line of $1, 500, 000 to be disbursed as needed on
separate term notes. Each term loan will have equal monthly
principal reductions based on a 15-year amortization. Loan
.term for each rote will be 3 years.
2) Total fundings will be limited to 50% of the aggregate
appraised value of collateral of this subject site plus
surplus collateral value of the Town Square Retail Center.
From the Town Square Retail Center, we will allow shared
collateral value of up to 65% of its appraised value.
BepayMent Schedule ,._
Each term note will have monthly •payments of principal plus
interest floating at SBCL Reference Rate + 2.00%, with an interest
rate cap of 12%. Principal balances will be due in full at
maturity. The amount of each note will be determined by the
purchase price of each lot.
Collateral
1st t±=mot deed on each property purchased. Additional collateral
for this subject site will be a 1st trust deed on an existing
Agency -owned property also on the subject site, plus the residual
collateral value available on Lne Town Square Retail Center
(Subject Site 3). once the Town -Square Rc:sil Center is sold by
the Agency, cash proceeds will be used to reduce the aggregate loan
totdls on this subject site to 501- or S.css of the remaining
collateral.
' . } ATTACHMENT NO. 1
BUBJEC'T;'SZTE :�Z
Surfing Museum Expansion
Loan structure
A maximum term loan of $400,000, .interest -only for the first 10
month, then equal monthly principal reductions. based on a 15-year
amortization. The loan term will be 3 years. The advance rate of
this loan will not exceed 80% of the construction costs or 80% of
the completed appraisal value, whichever is less.
Repayment Schedule
Monthly payments of interest only for the first 10 months
(estimated for construction period), then monthly payments of
principal plus interest floating at SBCL Reference Rate + 2.00t,
with a an interest rate cap of 12%. The remaining principal
balance will be due at maturity.
Collateral
1st trust deed on the construction site and the existing Surf �,,•.
Museum property.
$tTBJhC*A: `8fTB 3
Town Sguare Retail Center
:�
Loan Structure
A maximum term loan of $600,000, interest -only for the first 6
months, then equal monthly principal reductions based on a 15-year
amortization. The loan term will be 3 years. The advance r=te
will not exceed 65% of the appraised value of the property.
Rep.ayMent Schedule
Monthly payments of interest -only for the first 6 months (estimated
time for loot leasing), then monthly payments of principal plus
interest floating at SBCL Reference Rate + 2.00%, with an interest
rate cap of 12%. The balance of principal will be due at maturity.
Collateral
1st trust deed on the commercial property.
w
Lindborg Property
an Structure
1) A maximum term loan of $760,006, with equal monthly principal
reductions based on a .,IS -year amortization. The loan te?-m
will be 3 years.
2) Funding will be limited to 50% r�f the appraisal value of the
collateral of this site.
ATTACHMENT NO. 1
Rep _a_yment Schedule_
Monthly payments of principal plus interest floating at SBCL
Reference Rate + 2.00t, with an interest rate cap of 12%. The
remaining balance of principal will be due at maturity.-.: .
Collateral
ist trust deed on the property.
The Redevelopment Agency will pay a-$500 loan fee for each deed of
trust recorded by Sanwa Bank California, plus all applicable title
insurance and recording fees. The Bank will order an appraisal on
each subject property, and the appraisal fees will be charged to
the agency. The Agency will order -a Phase I environmental report
on each subject property. The Phase I must be acceptable in format
and overall quality to the Bank, _and the cost of the Phase I
reports will be paid directly by the Agency. If it is deemed
necessary Phase II or Phase III reports will be required.
This commitment is made with the understanding that there is no
commitment to extend or renew any of the above loans�pnvond the
three year terms.
Any additional and/or unforeseen out-of-pocket costs of the bank
will be charged to the Agency. The out-of-pocket costs are
estimated as follows:
Site 1 4th Bloch East
$3,500 - $4,000 Appraisal Fee (4 parcels, 5,500-7,500
s.f. per bank's appraisal department).
$2,876 ALTA Lender's Policy (on $1,500,000 loan
amount per Chicago Title).
$ 136 Tax Service Fee
$ 20 Estimated Recording Fee per trust -deed.
$ 75 Reconveyance Fee of each trust deed
$6,100 Phase I Report (per Envirogenesis'
proposal)
Site 2 - Surfing Museum Expansion
$5,000 - $6,000 Appraisal Fee (with 1,998 s.f. museum and
2,634 s.f. addition).
$1,136 ALTA Tender's Policy (on $400,000 loan
amount) per Chicag. Title.
$ 48 Tax Service Fee
$ 20 Estimated Recording Fee
$ 75 Reconveyance Fee
$11?600 Phase I Report (per Envirogenesis'
proposal)
w:J G } .
ATTACHMENT NO. 1
Site 3 Town Square Retail Center
$4,500 - $5,500 Appraisal Fee (4 tenants E
$1,516 ALTA Lender's Policy (on
amount per Chicago Title).
$ 64 Tax Service -Fee
$ 20 Estimated Recording Fee
$ 75 Reconveyance Fee
$1,600 Phase I Report (per
proposal)
Site 4 Lindborg Property_
$3,500 - $4,000 Appraisal Fee (4 adjoining
s.f.)
$1,804 ALTA Lender's Policy (on
amount per Chicago Title).
$ 80 Tax Service Fee
$ 20 Estimated Recording Fee
$ 75 Reconveyance Fee
$11,590 Phase I Report (per
proposal)
4,423 s.f.)
$600,000 loan
Envirogenesis'
lots Q 11,750
$750,000 loan
Envirogenesis'
It should be understood that these loan obligations will~become the
general obligations of the Redevelopment Agency of the City of
Huntington Beach and that payment of these loans will come from the
general sources of the Agency.
Consummation of the aforementioned credit facilities is subject to
proper execution of all documentation as prepared by Sanwa Bank
California. This commitment offer shall expire on November 1,
1992.
We recognize that all terms and conditions are subject to approval
by the appropriate. Redevelopment Agency authority. Please
acknowledge receipt by signing and returning a copy of this letter.
Truly yours,
Michael Weaver
Lssistant Vice President
ACKNOWLEDGED;
Stephen Kohler Date
Redevelopment Agency
of the City of
Huntington Beach
• l ATTACHMENT No. 2
MAIN -PIER LINE QF CREDIT
PURPQSE F F ND :
• Fo::rtii Block East - Acquire land on voluntary basis for future development (land
banking
• Town Square: buyout RTC, lease storefronts and sell property
• Conference & Visitors"Bureau: expand Surf Museum
• Acquire sites downtown for affordable housing production
BANK TERMS
Amount:
Interest Rate:
Term: I5-year amortized
Security: .
$3,260,000 maximum approved loan ($474,156/yr
payments)
4�•
8%
Due in 3 Years
Trust Deeds on Property
1_,PA YM CNT_FEA S I B I LITY:
FUND
BALAN E:
1992/93
$
304,059
I993/94
$
1,546,504
1994/95
$
2,567,505
1995/96
$
4,924,597
1996/97
$
7,5:rI,427
044
V
ATTACHMENT NO. 3
KELLING, NORTHCROSS fie NOBRIGA, INC.
Band Management Services for Public Agencies
595 Mdr1;e1 S1W1
Spike 1350
S.+n Trnnckco. CA 94105
415-362-4110
rAx 415.957-2610
Mr. Steve Kohler
Economic Development Department
City of Huntington Beach
2000 Main Street
P.O. Box 190
Huntington Beach, CA 92648
Dear Steve:
k
SEp 0 B 1992
pEpri:Ti,1ENT . , ..
sCGtiU 'ii% J)F I ...
September 2, 1992
We have reviewed the Ioan financing proposals you faxed to me. The proposed
interest rates are reasonable. Prime plus 2% is normal. It is also good that these are
taxable interest rates since it gives the Agency flexibility with respect to the ultimate
d;st-Ation of the property acquired through the loans. While tax exempt rates are
considerably lower, the fact that the Agency intends for the loan to be short term argues for
a bank loan. The Agency could put together a $3 million bond issue, but it would only he
cost effective if the financing term were at least 10 years.
We think that the most important issue is the form of security pledged by the Agency
to the repayment of the loan. If tax increment is pledged, it should be on a subordinate
bzsis to existing debt. If not, Moody's would count the loan towards coverage on : xisting
debt at an assumed interest of at least 1217o. This would reduce the ability of the Agency
to issue new debt.
I hope you find my comments helpful. Please call me if you have any questions.
V Wth
i
NY1ark N
Sr. Vice President
13 MN\hj Q\L\525902.1ctj
•Chareer Member, National Association of Independent Public Finance Advisors-
M
nrrnCHMCNT NO. 4
STONE & YOUNGBERG
MEMOERS PACIFIC STOCK EXCHANGE
August 31,1992
Stephen V. Kohler
City of Huntington Beach
2000 Main Street
Huntington Beach, California 92648
Dear Stephen:
RECEIVED
SEP O r;1992
DEPARTMENT OF
rCONOMIC DEVELOPA/I!'-----
I am in receipt of your documents summarizing two loan proposals from Sanwa
Bank and Huntington National Bank for the Huntington Beach Redevelopment
Agency.
These proposals Mier medium term financing for several real property
acquisition/improvement projects. Both proposals secure the financing with the
real estate only.
Both proposals are quite similar but Sanwa's offers financing for all four
projects in slightly larger amounts although with a balloon payment due in 3 years
as opposed to a 5 to 7 year maturity proposed by Huntington National Bank. The
suegested interest rate from both banks is the same.
Although both proposals are quite similar, I believe the Sanwa Bank proposal
is the most responsive if the Agency can accept the three year balloon.
An alternative to both would be a public underwriting sold by the Agency to
raise the necessary funds. Although this approach may -result in a slightly lower
rate and longer amortization term, I believe the collateral required would,involve
general Agency assets in addition to the real estate.
If you want to pursue an alternative to the Banks' proposals please let me
know. Otherwise, I believe the Sanwa proposal is the most responsive.
SCS:rt
(0193S)
Very truly yo s,
STONE OUN G
t ..ol�
Partner
ONE CALIFORNIA STREET • SAN FRANCISCO. CALIFORNIA 94111 • (415) 981-1914
PRODUCE4
RICHER INSURANCE AGENCY
1255 Prospect Avenue
Hermosa Beach, CA. 90254
(310) 798•-1650
INSURI D
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John Cutler
610 Pacific Coast Hwy.
Seal Beach, CA. 90740
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*30 NOTICE, EXCEPT 10 DAYS FOR NON—PAYMENT! OF PREMIUMS
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POLICY NUMBER
POLICY EFF DATE
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08/10/93
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2000 Main Street - '
Huntington Beach, CA 92648 Auth ized rese btiv
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PRODUCES `
AICHER INSURANCE AGENCY
1255 Prospect Avenue
Hermosa Beach, CA. 90254
(310) 798-1650
INSURED
CUTLER & ASSOCIATES
John Cutler
J. 610 Pacific Coast Hwy.
Seal Beach, CA. 90740
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THIS CERTIFICATE IS ISSUED AS A MATTrR 01: INF'+N1MAT1(kI ANLY AND COr,FCII;;
NO RIGHTS UPON THE CERTIFICATE t1ot.41:n• Till.^, GCnT1rICA1T. DOES N01 AMMIU._~:
EXTENT] OR ALTI:R THY' COYCRAGS AFFORDLD DY TIIL 1-0111--WS 0ZLOW.
COMPANIES AFFORENNG COVE-nAGE
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THIS IS TO C9RTIFY THAT POLICIES OF INSURANCE LISTED BELOW HAVE bE[N MS'JED TO TtIC INSUIIED HAMM AnOVf Fran TU1: POLICY rt:1100 WO) :ATC0. �
NOTWITHSTANDING ANY AEGUMEMCNT, TSaM OR CONDITION OF ANY COrITRACT OR OTHEM DOCUMENT WITI1 TIFW-CT TO Y1'IIIGIt TIIIS C011FICATL WAY
DE ISSUED OR MAY pEATARN, THE RISIIRAuCt• AfFOROEO BY THE PGLFCICS OC3CRiDto HcnCIN IS S11I11rCT TO ALL THI: KIWIS. GXCLI15I0143, Am Q:ONUI.
TION3 OF SUCH POLICIES.
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LT TYPE CN INSURANCtI POLICY NUMDCA
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D£SCAIPTION OF OPERATIONSILOCAT"SMHICLC•SIRESTRIGTIONSISPECIAL ITEMS
CERTIFICATE HOLDER NAMED AS ADDITIONAL INSURED
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*30 NOTICE, EXCEPT 1.0 DAYS FOR NON-PAYMENT OF PREMIUMS
CITY OF HUNGTIHGTON BEACH/
REDEVELOPMENT AGENCY
2000 Main Street
Huntington Beach, CA. 926413
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THE CITY OF H=INGTON BEACH AND ITS OFFICERS, AGEFPI'S, OVI DYEES ACID ALL
PUBLIC AGIINCIES AS DETERMINED BY THE CITY OF I=INGTCN 13SACH WHILE ACTING
WITHIN THE SOOPE OF THEIR DUTIES WITH RESPECTS TO THIS MDORSD+'.F=
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THIS CERTIFICATE IS ISSUED' AS A HATTER OF [NfORMATIOH ONLY AND CONFERS`
NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMMEND,
Industrial Risk Ins Services
EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW.
P.o. Box 3986
Tustin, Ca. 92681-3986
COMPANIES AFFORDING COVERAGES
t
Letter A Pacific National
Company
Insures CUTJO0I-MSB
Letter B
Cony
Letter C
Cutler & Associates, Inc.
Company
610 Pacific Coast Hwy., #100
Letter D
Seal Beach CA 90740
Company
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Letter
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THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED MAIMED ABOVE FOR THE POLICY PER-
IM 101CATED, NOTHITHSTAHDiN3 MY REQUIREMENTS, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCt1HENT WITH RESPECT TO WICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN 1S SUBJECT TO ALL THE TERNS,
EXCLUSION AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN HAY HAVE BEEN REDUCED BY PAID CLAIMS.
CO
TYPE OF INSURANCE
POLICY NUMBER
POLICY EFF DATE
POLICY EXP DATE
LIMITS
LTR
(mm/dd/yy)
(mm/dd/yy)
GEvERAL LIABILITY
General Aggregate
S
Prod-Comp/Ops Agg
S
E 3 Commercial General Liab.
Pers E Adv Injury
S
n" *'[ ]Claims Made E. ]Occur
Each Occurrence
S
[ ] Owner's i Contractors
Fire Damage
S
Protective
(Any one fire)
[ ]
Medical Payments
S
[ ]
(Any one person)
AUTOMOSILE LIABILITY
Combined
S
Single limit
t ] Any Auto
Bodily Injury
$
C 1 All Oared Autos
C I Scheduled Autos
(Per Person)
[ I Hired Autos
Bodily Injury
$
C I Non - Owned Autos
E ] Garage Liability
(Per Accident)
Property Damage
S
EXCESS LIABILITY
Each Occurrence S
E ] Umbrella Form
A-yggregate S
C ' ] Other Than Umbrella Form
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t{# Lti Syi {EFLi,+i,.,uLGt • xitLv
LMKER'S COMPENSATION
[ ] Statutory
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AND
WCO236769-03
08/10/92
08/10/93
Each Accident
i1`�400�000
• EMPLOYER'S LIABILITY
Disease -Pot Limit
S 1, 000, 000
Disease -Each Empl
S 1..0001000
OTHER
Description Of Operations/Locations/vehicles/Special Items
FZCATEi„IHIP E t T"IT-M; ; SANG �ZON � i i� ";'�°:�� ��:<.«<.w`°°�" °„
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Should arry of the above described policies be Cancelled before the
expiration date thereof, the issuing company will
_
mail 30 days written notice to the Certificate holder named to the
City Of Huntingqton Beach
Left
Redevelopment A ency
le
2000 Hain Street
Huntington Beach, CA 92648
Auth fz'edresrfhtfv
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CITY OF HUNTINGTON BEACH
2000 MAIN STREET
OFFICE OF THE CITY CLERK
CONNIE BROCKWAY
CITY CLERK
October 6, 1992
Cutler & Associates
3711 Long Beach Blvd., Suite 1016
Long Beach, CA 90807
Attn: Terry S. Cutler, President
CALIFORNIA 92648
The City Council of the City of Huntington Beach at the regular
meeting held October 5, 1992, approved an Agreement between the
Redevelopment Agency of the City of Huntingtoh Beach and Cutler
and Associates for property acquisition services.
Enclosed is an executed copy of the agreement for your records.
Connie Brockway
City Clerk
CB:bt
Enc.
(Tstsphons: 714536-5227 {
AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY OF
THE CITY OF HUNTINGTON BEACH AND CUTLER & ASSOCIATES
FOR PROPERTY ACQUISITION SERVICES
THIS AGREEMENT is made and entered into this 5th day
of October - , 1992, by and between the REDEVELOPMENT
AGENCY OF THE CITY OF HUNTINGTON BEACH, hereinafter referred to
as "AGENCY," and CUTLER & ASSOCIATES a California corporation,
hereinafter referred to as "CONSULTANT."
WHEREAS, AGENCY desires to engage the services of
CONSULTANT to provide property acquisition services on real
property located in the City of Huntington Beach; and
CONSULTANT has been selected to perform said services
pursuant to the applicable city requirements;
NOW, THEREFORE, AGENCY and CONSULTANT agree as follows:
PPMENE*THTAG PANJ
CONSULTANT shall provide all services as reflected on
Exhibit "A", attached hereto and incorporated herein by this
reference. Said services shall sometimes hereinafter be
referred to as "SCOPE OF SERVICES."
CONSULTANT hereby designates John Cutler, who shall
represent it and be its contact and agent in all consultations
with AGENCY during the performance of this Agreement.
AGENCY assigns the Director of Economic Development or
designee as staff coordinator to work directly with CONSULTANT
in the performance of this Agreement.
9/92:429:AJFk
1
U
K ���.l�L
Time is of the essence of this Agreement. The
services of the CONSULTANT are to commence as soon as
practicable after the execution of this Agreement. Time limits
may be extended with the written permission of the City
Administrator.
4. COMPENSATION
In consideration of the performance of the services
described in Section 1 above, AGENCY agrees to pay CONSULTANT
in accordance with the Fee Schedule, attached hereto as Exhibit
H and incorporated herein by this reference.
5. EXTRA WOE
In the event of authorization in writing by the AGENCY
of changes from the work described in the Scope of Services, or
for other written permission authorizing additional work not
contemplated herein, additional compensation shall be allowed
for such Extra Work, so long as the prior written approval of
AGENCY is obtained by virtue of an amendment hereto.
Vvo •
A. CONSULTANT shall be entitled
to monthly progress payments toward the fixed fee set forth in
Section 4 herein in accordance with the progress on the work
described in the Scope of Services.
H. 12glivery of Work Product. Copies of memos and
reports prepared by CONSULTANT shall be submitted to the AGENCY
to demonstrate progress toward completion of tasks. In the
event AGENCY rejects or has comments on any such product,
9/92:429:AJFk
2
AGENCY shall identify specific requirements for satisfactory
completion. Any such product which has not been formally
accepted or rejected by AGENCY shall be deemed accepted.
C. Invoices. The CONSULTANT shall submit to the
AGENCY an invoice for each progress payment due. Such invoice
shall:
1) Reference this Agreement;
2) Describe the services performed;
3) Show the total amount of the payment due;
4) Include a certification by a principal member of
the CONSULTANT'S firm that the work has been
performed in accordance with the provisions of
this Agreement; and
5) For all payments include an estimate of the
percentage of work completed.
Upon submission of any such invoice, if AGENCY is
satisfied that CONSULTANT is making satisfactory progress
toward completion of tasks in accordance with this Agreement,
AGENCY shall promptly approve the invoice, in which event
payment shall be made within thirty (30) days' of receipt of
the invoice by AGENCY. Such approval shall not be unreasonably
withheld. In the event of a dispute regarding payment of fees,
CONSULTANT shall remain obligated to, and at AGENCY'S option
shall continue to perform the services. If the AGENCY does not
approve all or any portion of an invoice, the AGENCY shall so
notify CONSULTANT within ten (10) calendar days of receipt of
the invoice. CONSULTANT shall be paid for that portion of the
invoice not in dispute.
9/92:429:AJFk
3
CONSULTANT agrees that all materials prepared
hereunder shall be turned over to AGENCY upon termination of
this Agreement or upon PROJECT completion, whichever shall
occur first. In the event this Agreement is terminated, said
materials may be used by AGENCY in the completion of PROJECT or
as it otherwise sees fit. Title to said materials shall pass
to the AGENCY upon payment of fees determined to be earned by
CONSULTANT to the point of termination or completion of the
PROJECT, whichever is applicable. CONSULTANT shall be entitled
to retain copies of all data prepared hereunder.
f) Mildlem NO 410. i
CONSULTANT hereby agrees to indemnify, defend, and
hold and save harmless AGENCY, its officers and employees from -
any and all liability, including any claim of liability and any
and all losses or costs arising out of the negligent
performance of this agreement by CONTRACTOR, its officers or
employees.
URMMKHOJR•0' ► e►
CONSULTANT shall comply with all of the provisions of
the Workers' Compensation Insurance and Safety Acts of the
State of California, the applicable provisions of Division 4
and 5 of the California Labor Codg and all amendments thereto;
and all similar state or federal acts or laws applicable; and
shall indemnify, defend and hold harmless AGENCY from and
against all claims, demands, payments, suits, actions,
proceedings and judgments of every nature and description,
9/92:429:AJFk
4
including attorneys fees and costs presented, brought or
recovered against AGENCY, for or on account of any liability
under any of said acts which may be incurred by reason of any
work to be performed by CONSULTANT under this Agreement.
CONSULTANT shall obtain and furnish evidence to AGENCY
of maintenance of statutory workers' compensation insurance and
employers' liability in an amount of not less than $100,000
bodily injury by accident, each occurrence, $100,000 bodily
injury by disease, each employee, and $250,000 bodily injury by
disease, policy limit.
10. IN51 RANCE
In addition to the workers' compensation insurance and
CONSULTANT'S covenant to indemnify AGENCY, CONSULTANT shall
obtain and furnish to AGENCY professional liability insurance
policy covering the work performed by it hereunder. Said
policy shall provide coverage for CONSULTANT'S professional
liability in an amount not less than $1,000,000 per claim. A
claims made policy shall be acceptable.
Prior to commencing performance of the work hereunder,
CONSULTANT shall furnish to AGENCY certificates of insurance
subject to approval of the City Attorney evidencing the
foregoing insurance coverages as required by Sections 9 and 10
herein. Said certificates shall provide the name and policy
number of each carrier and policy, and shall state that the
policy is currently in force and shall promise to provide that
9/92:429:AJFk
5
such policies will not be cancelled or modified without thirty
(30) days prior written notice to AGENCY. CONSULTANT shall
maintain the foregoing insurance coverages in force until the
work under this Agreement is fully completed and accepted by
AGENCY.
The requirement for carrying the foregoing insurance
coverages shall not derogate from the provisions for
indemnification of AGENCY by CONSULTANT under Section 8 of this
Agreement. AGENCY or its representative shall at all times
have the right to demand the original or a copy of all said
policies of insurance. CONSULTANT shall pay, in a prompt and
timely manner, the premiums on all insurance hereinabove
required.
A separate copy of the additional insured endorsement
to each of CONSULTANT'S insurance policies, naming the AGENCY,
its officers and employees as Additional Insureds shall be
provided to the City Attorney for approval prior to any payment
hereunder.
•a V 040y 10):
CONSULTANT is, and shall be, acting at all times in
the performance of this Agreement as an independent
contractor. CONSULTANT shall secure at its expense, and be
responsible for any and all payments of all taxes, social
security, state disability insurance compensation, unemployment
compensation and other payroll deductions for CONSULTANT and
its officers, agents and employees and all business licenses,
if any, in connection with the services to be performed
hereunder.
9/92:429.AJFk 6
• • dal.
All work required hereunder shall be performed in a
good and workmanlike manner. AGENCY may terminate CONSULTANT'S
services hereunder at any time with or without cause, and
whether or not SERVICE is fully complete. Any termination of
this Agreement by AGENCY shall be made in writing through the
City Administrator, notice of which shall be delivered to
CONSULTANT as provided in Section 17 herein.
� sG
This Agreement is a personal service contract and the
supervisory work hereunder shall not be delegated by CONSULTANT
to any other person or entity without the prior written consent
of AGENCY. CONSULTANT may enter into subcontracts for
performance of extra work as described in paragraph 5;
provided, however, that CONSULTANT shall not subcontract or
retain a subcontractor,.consultant or independent contractor to
perform this Agreement, any portion thereof, or any extra work
as that term is defined in paragraph 5, without the prior
written consent of the City Administrator. The AGENCY reserves
the right to approve any and all contracts or agreements
entered into between the CONSULTANT and a subcontractor,
consultant or independent contractor. CONSULTANT shall assume
full responsibility for the work of any such subcontractor,
consultant or independent contractor.
,! -14' • 4 • •
CONSULTANT shall employ no AGENCY official or any
regular AGENCY employee in the work performed pursuant to.this
9/92:429:AJFk 7
Agreement. No officer or employee of AGENCY shall have any
financial interest in this Agreement in violation of California
Government Code Section 1090, et seq.
16. NO110ES
Any notices or special instructions required to be
given in writing under this Agreement shall be given either by
personal delivery to CONSULTANT'S agent (as designated in
Section 1 hereinabove) or to AGENCY'S City Administrator, as
the situation shall warrant, by facsimile transmission, or by
enclosing the same in a sealed envelope, first class postage
prepaid, and depositing the same in the United States Postal
Services, addressed as follows:
TO AGENCY:
Redevelopment Agency of
the City of Huntington
Beach
2000 Main Street
Huntington Beach, CA 92648
TO CONSULTANT:
Cutler & Associates
3711 Long Beach Blvd, Ste 1016
Long Beach, CA 90807
CONSULTANT shall be responsible for full Compliance with
the immigration and naturalization laws of the United States and
shall, in particular, comply with the provisions of 8 U.S.C.
§ 1324a regarding employment verification.
•
CONSULTANT and CITY agree that CITY is not liable for
payment of any subcontractor work involving legal services, and
that such legal services are expressly outside the scope of
services contemplated hereunder. CONSULTANT understands that
pursuant to Huntington Beach City Charter S 309, the City Attorney
9192:429:AJFk 8
is the exclusive legal counsel for CITY; and CITY shall not be
liable for payment of any legal services expenses incurred by
CONSULTANT.
19. ENTIRETY
The foregoing Agreement and the Exhibits constitute the
entire Agreement between the parties.
IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed by and through their authorized officers
the day, month and year first above written.
CONSULTANT:
CUTLER & ASSOCIATES,
Its:
Its:
REDEVELOPMENT AGENCY OF THE
CITY OF HUNTINGTON BEACH
Chairman
ATTEST:
�•?l•Gli LCaJLG
Agency Clerk= -
APPROVED AS TO -..FORM: INITIATED, REVIEWED AND APPROVED
cjCfk Agency
cy Attorney Director of Economic Development
9192:429:AJFk
E
0
I HUNTINGTON BEACH
C1T`y of hUNTINC;TON MACh
BUSINESS LICENSE
A 130854 ® CE
CUTLER t ASSOCIATES INC
J E Y CUTLER
I-c' �+ �y�+T/�YC INCTHIS LICENSE ENTITLES ONLY CONDUCT OF
CUTLER & ASSOCIATES ES INBUSINESS SHOWN AT ABOVE ADDRESS BY
PERSON(S) TO WHOM LICENSE ISSUED. THIS
IIyEUSE IS NON •TR"SFERRASLE. RENEWAL DUE
110 PACIFIC COAST W. UNIT lav OFExpIRATION.
SEAL BE ACI•i CA
90740--332-'6
POST IN CONSPICUOUS PLACE
LICENSE DIVISION
P.O. 8OX 711
HUNTINGTON BEACH,
CALIF. 92648
PHONE: (714) 536-5267
01/01/92
01/01/93
6 .0o
.00
s-
V1- }r: r-
Request for Qualifications
for
Property Acquisition Consultants
Barbara A. Kaiser
Director of Economic Development
City of Huntington Beach
2000 Main Street
Huntington Beach, Ca. 92648
Phone: (714) 536-5582
`, , ;
k.J
REQUEST FOR QUALIFICATIONS
FOR
PROPERTY ACQUISITION CONSULTANTS
1. Invitation to Submit Qualifications. The Redevelopment
Agency of the City of Huntington Beach is seeking Property
Acquisition Consultants who can advise the Agency in all
aspects of real property acquisition. The Consultant must
have extensive experience in negotiations; redevelopment; and
the acquisition of commercial, industrial, and residential
properties, including escrow procedures an real property
practice in the State of California. Each candidate
submitting their qualifications must furnish the following
information:
A. Company Experience and History.
B. Staff Experience. Include education and professional
experience in property acquisition in commercial and
residential redevelopment projects, especially in the
area of site assembly. Experience with governmental
agencies must be included.
C._ Client List. Provide a minimum of five public sector and
three private sector clients your firm represented within
the last three years.
D. Cost Estimates and Rate Schedule for Professional
Services.
E. Insurance Information. As required by Resolution No.
6277, consultants must provide proof of Workers
Compensation Insurance for its employees and provide
$1,000,000 general liability insurance naming the City as
additional insured, professional liability insurance is
also required (see enclosure). Please provide a
statement that you will be able to meet such requirements
if selected for professional services.
F. Business License. The City requires that all
Professional Consultants obtain a Huntington Beach
business license when contracting with the city for
services. Please state that you have or are willing to
obtain a business license upon selection.
2. Agency Commitment. The Agency is prepared to facilitate the
success of the assignments by providing a reasonable amount of
staff support and access to needed information, where available..
3. Selection Process, of primary importance in the selection
of a consultant will be the overall quality of the application as
evidenced by previous accomplishments and a demonstrated
willingness to work with city officials and Agency staff.
The selection process includes staff screening the RFQ responses
to evaluate the capabilities to implement the described
assignments. Follow up with former clients to ascertain service
satisfaction and a personal interview may also be required at
staff's discretion.
The Agency reserves the right to reject any or all RFQ responses
and to waive requirements absent in any response.
4. Agency Time Schedule for Selection:
August 13; 2:00 PM .RFQ Response Deadline
S. Submit three copies to:
6. Contact Person:
Barbara A. Kaiser
Director of Economic Development
City of Huntington Beach
Redevelopment Agency
2000 Main Street
Huntington Beach, California 92648
Carol A. Runzel
Development Specialist
(714) 536-5529
CITY OF HUNTINGTON BEACH PROFILE:
Huntington Beach, incorporated in 1909, is located on the
Southern California coast 35 miles southeast of Los Angeles.
With a population over 187,000 in the 27 square miles adjacent to
the 405 freeway, the City provides high quality community
services through recreation, cultural activities, police and fire
protection. Redevelopment efforts are concentrated in five
project areas. The greatest amount of redevelopment activity is
focused in the downtown area near the newly constructed
Huntington Beach pier and in the Huntington Center area located
in the northern section of the city.
V
V
CITY OF HUNTINGTON BEACH
2000 MAIN STREET
RISK MANAGEMENT DIVISION
(714)536-5990
April 6, 1992
CALI FORNIA 92648
TO: All Contractors Seeking Public Right -of -Way Encroachment Permits
and to Miscellaneous Contractors
PLEASE READ THIS TO AVOID DELAY OF YOUR APPLICATION APPROVAL.
City Council resolution 6277 requires proof of Workers' Compensation
rind Emplovers' Liability coverage before a permit is issued. You also
need General Liability Insurance described below.
With regard to Workers' Compensation Insurance, your Certificate of
insurance (acord 25 form or equivalent) will be rejected unless:
1. The certificate provides statutory Workers' Compensation and/or
Employers' Liability coverage in an amount of not- less than
$100,000 bodily injury by accident, each occurrence; $250,000
bodily .injury by disease, policy limit; and $100,000 bodily injury
by disease each employee.
2. The cancellation clause is amended to read as follows: SHOULD ANY
OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE'THE EXPIRATION
DATE THEREOF, THE ISSUING COMPANY WILL ZAOZ (Y091Pi,0 MAIL 30 DAYS
WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, 007
k'�cX;�Y��//x�//rYXX�//�T��K//D�s�xX��//�H►��i:1/X�1��g�//��/ls��TGX��xX�M//��
A certificate of Consent to Self -insure issued by the California
Director of industrial Relations is also acceptable. If you have no
employees, you must sign a declaration to that effect. You must use
the declaration form issued by the City.
With regard to General Liability Insurance (combined single limit),
your Certificate of Insurance will be rejected unless:
1. The certificate does not provide at least $1,000,OCO CSL coverage
per occurrence. If coverage is provided under a form which
includes a designated general aggregate limit, the aggregate limit
must be no less than $1,000,000.
2. An endorsement naming the City of Huntington Beach, its Agents,
Officers, and Employees as additional insured must accompany the
certificate in order for it to be approved by the City Attorney's
office. Do not name individuals or departments. If your business
is under Public Utilities Commission (PUC) jurisidiction, this
.endorsement is not required.'
I
PAGL TWO - CERTIFICATE (,,,p%10
3. "Claims made" policies are only acceptable for Professional
Liability Insurance and Pollution Liability. A1ake sure that the
"occurrence" box is checked on the certificate.
4. Cancellation clause for General Liability Insurance (combined
single limit) must be amended to read as follows: SHOULD ANY OF
THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION
DATE THEREOF, THE ISSUING COMPANY WILL iC,rlrS,- 0)0A//1&-FfAIL 30 DAYS
WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, 160%
5. Failure of Professional Service Contractors to provide
Professional Liability Insurance. Failure to provide a minimum of.
r $500,000 Professional Liability Insurance. Additional Insured
Endorsement not required for Professional Services Contractors
(i.e. consultants) only.
6. Companies regulated by the Public Utilities Commission (PUC) are
required to have Proof of Workers' Compensation Insurance in the
amounts given above. The General Liability insurance requirements
for PUC regulated companies are $600,000 combined single limit OR
$25G,000 bodily injuries or death of one person: $500,000
protection against total liability on account of bodily injuries
or death of more than one person from any one accident. This is
subject to the same $250,000 limitation for each person; and
$100,000 protection for accidental damage cr destruction of
Property other than property being transported.
Please forward this notice and any enclosed paperwork to your
insurance agent to assist them in the preparation of your certificate:.
FINAL. VOTE: ONLY SEND ONE COPY: DUPLICATES CAUSE PROBLEMS. If you
have a different insurance carrier for workers' Compensation than the
carrier for your General. Liability (CSL), it would -be extremely
helpful to send in both certificates together. Also, we do not need
information on your automobile insurance.
You may contact Dennis Coulter at (714) 536-5234 for questions not
answered above. Our FAX number is (714) 374-1597.
Thank vau.
DC:mlm
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JOHN CUTLER & ASSOCIATES, INC.
610 Pacific Coast Highway
Suite 100
Seal Beach, California 90740-6604
John Cutler
SECURITY LAND & RIGHT OF WAY
SERVICES, INC.
2894 Gundry Avenue Suite A
Long Beach, California 90806
Roger Cunningham
WILDAN & ASSOCIATES
222 S. Harbor Boulevard #600
Anaheim, California 90067
Terry Rodrigue
COPE OF
ERV D
1. Prepare all offer letters, summary statements, and lists of compensable items of fixtures and
equipment, in accordance with state or federal regulations and approval of legal counsel.
2. Personally negotiate with the property owners and business tenants (or their appointed
representatives) for the purchase of the required property rights. The written offer -tu
purchase will be presented to the appropriate owners or their representatives in person,
when possible, anywhere in the United States.
3. Upon the initiation of negotiations, receipted offer letters will be transmitted to the client
as soon as possible. In instances where the property owner declines to receipt for the offer
to purchase, a certification of presentation will be forwarded to the client.
4. Personal negotiations will continue with the property owners and tenants until every
reasonable effort has been expended and it appears that the only remaining method of
acquisition is through eminent domain proceedings.
5. Prepare all acquisition agreements, deeds, and other documents necessary to complete the
acquisition.
6. At such time that negotiations appear to be unsuccessful and eminent domain proceedings
have commenced, assistance necessary to aid the client's condemnation counsel will be
provided. Negotiations will continue after the filing of condemnation action if it is the
desire of legal counsel.
7. In the course of negotiations with the property owners and tenants, Cutler & Associates
consultants will provide all necessary information to and work with the relocation
consultant, or staff member, in order to expeditiously and professionally complete the
project.
8. A diary of all pertinent information and contacts concerning the project parcels will be
maintained.
9. If required, a written summary of the status of the acquisition of each parcel will be
provided on a monthly basis. It is our normal procedure to discuss the acquisition with the
staff on a more frequent basis, so our clients will be kept well informed as the acquisition
process proceeds.
M All executed documents on successfufl nAF otiated parcels will be promptly transmitted to
clier` for acceptance. -
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ADDITIONAL SCOPE OF SERVICES
Consulting services, in addition to those listed above, can also be provided. These additional
services consist, in part, of the following:
l . Review and analyze litigation guarantees in order to identify those specific title exceptions,
(i.e., easements, oil rights etc.) that may have to be eliminated prior to the conveyance to
the redeveloper or ultimate user. Also, provide the assistance necessary to eliminate these
adverse items.
.2. Review and analyze fixture and equipment appraisals in order to establish the list of
compensable items.
3. Process the acquisition documents within the client's offices and transmit the executed and
accepted documents to the appropriate parties (i.e., escrow, property owner, client's file,
relocation consultant).
4. Act as liaison with title companies and escrow agents.
S. Obtain reconveyance and subordination agreements when necessary.
6. Coordinate with Client and other consultants, prepare requested reports, attend meetings
with Client, Developer, Redevelopment Agency members, ur provide other required
acquisition related services.
7. Subcontract for additional services that may be desired, including services such as appraisal,
title, relocation, engineering, environmental analysis.
8. Site selection and analysis, alternative route analysis, acquisition cost analysis (including
relocation, demolition, and consultant fees)
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9. Coordinate other aspects of the project as requested by Client.
10. Provide all other non -specified real estate related consulting services.
CirlZER do ASSOCIATES, INC
We are willing to provide the real estate acquisition services outlined in the ACQUISITION
SCOPE OF SERVICES AND PROCEDURES SECTION of this proposal on an hourly basis,
in accordance with the attached HOURLY RATE SCHEDULE, with the fee not to exceed a
maximum fee per parcel and/or tenant, calculated by the following schedule:
$1,500.00 plus 8/10 of 1 percent (.008) of parcel valuation in excess of $50,000.00, with a
maximum schedule fee of $3,500.00. This schedule is for'both full and partial takings.
In addition to the above scheduled fee, on parcels that necessitate separate negotiations for the
acquisition of tenant's/lessee's interest in the property and/or improvements pertaining to the
realty (fixtures and equipment), a fee of $1,500.00 per tenant and $1,000.00 per property owner
occupied business will be added to the above schedule. On parcels that involve the acquisition
of mobile homes or trailers, a fee of $1,250.00 for each tenant owned trailer acquisition will be
added to the above schedule.
On projects that include multiple parcels, billing will be on a project basis with the maximum
c.-ilculated by the aggregate of the parcel fees from the above schedule.
As was indicated previously in the Scope of Services and Procedures section, it is our customary
procedure to meet with the property owners anywhere in the United States. If travel outside the
Southern California area is necessary to meet with owners, expenses incurred by Consultant will
be reimbursed by the Agency. All travel will be with prior approval of the Agency.
If Agency prefers a flat fee per parcel, instead of a contract based on an hourly rate, we are
willing to provide the above mentioned acquisition consulting services on a fee per parcel based
upon ninety percent (90%) of the above referenced schedule. If the fee per parcel is employed,
the following will apply: Any and all travel expenses necessary to meet with the property owners
outside the Southern California area will be born by Consultant. After negotiations have
commenced, but prior to the time the acquisition of the parcel has been completed, Consultant
may bill the Agency for a partial billing, up to seventy-five percent (75 %) of the scheduled
parcel fee. At such time that all necessary acquisition documents have been obtained and
forwarded to the Agency for acceptance or the acquisition has been completed through the
actions of the Agency's condemnation counsel, the remaining balance will be due Consultant.
If unusual situations occur, such as a change of own--rship, extended acquisition period, or
extremely complicated title clearance problems, special arrangements regarding compensation
will be necessary.
The additional vmsulting services, a partial list is contained in the :ADDITIONAL
CONSULTINJ SERVICES sect. -on, will be provided in accordance with thP_ HOURLY RATE
SCHEDULE attached.
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. •x LY A E SCHEDULE '
The following is our schedule of hourly rates for providing the required services:
CORPORATE OFFICER $80.00 per hour
PRINCIPAL CONSULTANT/
GENERAL CONSULTING
ACQUISITION CONSULTANT $70.00 per hour
(AGENT) (negotiation, general consulting,
acquisition agreement formulation).
TECHNICIAN/ESCROW OFFICER $40.00 per hour
(document preparation, escrow services)
SECRETARIAL $25.00 per hour
(general correspondence, fixture and
equipment lists)
If court appearance is required, this service will be provided at the hourly rate of S80.00 per
hour, with a minimum appearance time of four (4) hours. -
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