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Home My WebLink AboutSpear Street Advisors, Inc - 1990-06-04k, I 0. fi, v 0" 4r 00�11• V r\ AV(, IJ I 4 JA f jy e I Ile 1-4—, F7, 10 it V 'd A 41••4 t Ti Jilt. 1-2 j I j 0 .7 W ? i' i EN TJ AgREMST 11 ZS r R STREELA DVr5QHS r I UJIL ITY OF H=11NMIJ LUATL ION K, VDR ELHANCIAUL-PE JECTIO38 Q'Z- UMMV ANI] T&K INC 1Y, PROJECTAREA f iek '01 FS day W THIS AGREEMEDmade and entered into ' WO r. of 1,990, by and between the REDEIiELOPMENT IYA AGENCY OF THE CITY OF HUNTINGTON BEACH, a public body, hereinafter lifornin referred to as IIAGENCY,11 and SPEAR STREET ADVISORS, a Ca corporation, hereinafter referred to an "CONTRACTOR." the services of a financial X WHEREAS1, AGENU desires to engage �a J of projections of assessad t for preparation nk, projections consultan valuation and tat increment rovenues fo r the Main -Pier Redevelopment Project Area In the City of Huntington Beach; and .4 0 1& I, Pursuant to documentation on file in the Office f I City V T, S Clark$ the provisions of HBMC Chapter 3.03,. relating to ""t-amara- of professional service contracts, has been complied r. Li A. W VIVO" with; and k, CONTRACTOR has been selected to perform said services, 0'Xi e by AGENCY and CONTRACTOR as ti NOWj THEREFORE, it is agreed JV t," follows S. weir ILI_ WQRK- STATEMENT ices as described in the al; vCONTRACTOR shall provide all Jill Request for Proposal and CONTRACTOR'S Proposal dated 5/18/901 a Exhibit "A") wl,ich i is (hereinafter collectively referred to a hVreement by t into LF his attached hereto and incorporated ppf V, 6� rl reference. Said services shall sometime,:,,iereinafter be referred T'I J to as "PROJECT.n W., PJ V V 110 fi � T - 7 L, :. 771�77 5.413 3. P!Vi Jig All _jA Ilk Al 0I 4r. �J j. 4J;1: y -p V 10 -V V", I%y 1 fg, T q- !T tt;' 9 yAySr1 ,'�s-'r 1.': L,G:,..>.'.i ".•.'•': .. f{ l i -s r• J 2s f,� 'l ' '.! •/r 1 iF•:,i 1., b�•tl ,� ,,, fir' ,_,�. 3 UJ': ` J la r�. F, , a,...l, . .r ,, A tr - �•-i !i (r' 3/Sr+ .} r .i. ]!: f AV �4 Nj• " !' 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A a -4` f t T'RACTOR hereby designatPaul SintPiarre who shall ` C014Ile 1 es aua- c, 4 (�) 'fr ii •'i{� ' it t J* < <� . f�,: trl,ft 1��•� L, vlet.i Sri r 7 1 4 - lrrt.: [rti.s lit , }r t 'rrsr Il` ), r i •y:'! to ,, 1� r �• 'i07 �3� 1 y1�7,�a�r�• ji.�rt; ��7t.,, r• �, 11 i1{ 11 �♦.5r j� 7Y ��F 1i�.{Nj s+ y �,:.rlJ-� • \�- +j t. a' •� �/I ,tiff ;r, t=�' rr��, �i`. t•' 1 �J� tt �,. } ..f 7t1 Q tf it tt/Yr��i.7 r y,t�rJ J�ij .ayiK�i{rtfi represent it and be its sole contact and agent in all consifltations with AGENCY during the performance of this Agreement. 2. AGENCY STAFF hSSLSTANCS AGENCY shall assign a staff coordinator to work directly with CONTRACTOR in the performance of this Agreement. 3. TIME OF PEPEORMANCF Time is of the essence of this Agreement. The services of U-B CONTRACTOR are to commence as soon as practicable after Lhe executiun of this Agreement and all teslcs specified in Exhibit "A" shall be completed as soon as i:o,ssible after the date of this Agreement. This schvdule may be amended to benefit Elie PROJECT if mutually agreol by the CITY and CONTRACTOR. 4. COMPENSATIOr, in consideration of the perf�rmance of the services described in Section 1 above, AGELAU agrees to pay CONTRACTOR a fee not to exceed Fifteen Thousand Dollars ($15,000),, plus all expenses refle„Lad in (Exhibit "A". A,portion o1c'tha`$15,000 fee `hereunder, in the Lorm of a retainer of $411,500, has already been paid .iy RGENCY pursuant to authority granted by Huntington Beach Municipal Code Chapter 3.03 relating to previously budgeted professional services. 5. ExTr>� wogg In the event AGENCY required additionul services noft included in Exhibit "A," or -hanger-in the scope of servi�ep described in Exhibit "A," CONTRACTOR will undertake such work•'` - 2 A,t�r`: S ,,, a7✓ tVA[1r �4 y 1f; 17 t r •.it ,1•��]C 1 ( • +t J t �1.7 1 J �r •t Y '['r /f ,. 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J I. r `1 •,,[l}.�,� 1.1 7� t� -%ii "t P t;e- t ht ,� i 7•1,+ , : U. 1 I i+(/, r t ' rr ;t_ ,y ��1 �r ,')t:r', +.ri KrY t T; f t.✓ x �' (4r i 7 ;'�+;' f• ::'• t.P i t';. ` r1 Y�r..,( ,1 t �, (': •i r4' �'" t a.�1 ix r r•:' d, a �'tt rti.�,{ c��+"/ rjJ r •Si►�'i tlr ��•;' tr t �tJlr r f r (r /' r •`r ; t,'. 1 t , Y. ,r : +llr r / ±��•'�. .I7 j•.:1 i JE+7 r ,t,�t tt ::" t'� [1�., �l�I.r � SA-•t .r.''' :RSly1 �. t ( ,!• r1';,5+ it+ I'�{ i i �1/� •✓t�F:�7'ij•' •'f.r +1 t.j�lf r• U�r S• ��:. � :r/ Ji � i7J r � •� r. �•::J ,� 1 ,, :'t' , r .• ! t.. 'L� r ,I'i' `+•, ` \' ~� ) '• lS,.y�l ,1W) rf Zyt, �nt,+r � � rl � it l►+rti.-r 1 + , �. �. .;4 � � 1') �' �(' !r+ 0 S'.1 ri �� `�<i%�r ,'L r,�rJ / rtj.r r .•l , t ';i k� tr � r , iC rxlf►t' 1 i[, r) ,l%�; { r :, , ":� a .�I��i t• r S a�.i$ ' ��{.;:�,�1,.ce �r �. � r '.�. -Y' r;'+ .{•/, ✓; ;'� •' r+ Ili yl rt ,. ;': r :•.. + Lt (•?'�� 4�';r t11j `rr .fr 1�x r. •t 1 r: r '. �) , ,, ;, 1},,�} {?d7i xl ,Ci 11-' .1, :4 1.t ;_ :f r'. ''r tf y .j I,•.1 I' r' Jt\l� , •.r r .Y , r 1�<<k1}. .•,• , ., �r / .,, �. � •• 1, f I Yf.J if."; 7, ply, 0 If I 'qlA f for. 7 'Feu i C k ; '. 47 6 v - in 'to, _%� Tv YA, 4 A, J'I 41 it SF 1; yl Vyl, 4"&j' 0.- - T" M N. *7 16 If, after receiving written authorization from AGENCY. Additional compensation for such extra work shall be allowed only If the AL V �kls;�r prior written approval of AGEVCY Is obtaiAnd by amendment hereto. wi 6. ,tee. OF PAYHERI A. CONTRACTOR shall bo entitled to paymento toward the fixed fro set forth in Section 4 herein in acco*Janc6 with Exhibit A". B. Delivery of work productz A copy of every technical Ot ug 00_� memo and report prepared by CM -TRACTOR shall be submitted t7o ther nzk AGENCY to, demonstrate progress toward completion of tanks. In the event AGENCY re-J,acts or las comments on any such product, AGENCY shall identify specific requirements for s3tisfactOry completion. Any such product which has noc been formally accepted or rejected 40 W by AGENCY shall be deemed accepted. C. The CONTRACTOR shall submit to the AGENCY an invoice INA` for each progress''payment; due. Such invvice shall: 1) Reference this Agreement; ilk, 2) Describe the services performed; it _4 3) Show the total amount of the payment idle;' 4) Xnclude a zertif icatio-.- by a p.Aincipal member j of,the CONTRACTOR'S firm that tho work has been performed in accordance with the provisicno of 'A" Ul this Agreement; and 4 5) For all payments include an estimate of the percentage of work compleEt*'d. Ch Upon subminsion of any such invoice, if AGENCY is Af satisfied that CONTRACTOR is making satisfactory progress 'toward 3 "; oft I'll IPV" :71 V•;74 Al Z' A'I 94 if Of " (40 tip, A�4 irk trrl4jV4 r�i 4W4 14, f, W, ur, f�4i It? , l : .11 ;1 1 1 , iV ift if i.4 It OA'y 7-' 7t -A 1 ..4 IN rY", -.v J." % 4 4 eAA4_ 6 I JN, L r. yy 1. 4 J?j (if 5 Cl 7 jf At.% tl If 1: 0- 4�1 IV! nk Completion of tasks in accordance with this Agreement, AGENCY •shall promptly approve the invoice, in which event payment shall 17 f .,YC' be made within thirty (30) days- Of receipt of the invoice by r4 AGENCY. Such approval shall not be unreasona bly withheld. 41 If the IA: AGENCY does nct approve an invoice, AGENCY shall notify CONTRACTOR iWl within "tho reasons for non -approval, wi in seven (7) in writing o- -lays of receipt of the invoicao and the schadu3e of calendar Tilt per ),t,- ormance set forth In Exhibit "A" shall be suspended until the NAN parties agree that past performance by CONTRACTOR is In, or has been btbught into complianctio or until this Ag-j6eemsnt is terminated pursuant to Sectior, 12 hereof. Ot :U t., Do Any billings for extra work or additional services authorized by the AGENCY shall be 311voiced separately to the I " 12, AGENCY. Such invoice shall contain all of the information k required under paragr 4W aph 6C, and in addition shall list the hours it iT expended and hourly rate charged for such time. Such invoices shall be approved by AGENCY if the work performed is in accordance JV� with-the,extra work or additional services requestedand if AGENCY is satisfied that tie statement of hours worked and costs R I? �IA 'Ile 1, incurred is accurate. Such approval shall not be unreasonably .,v I� '6 withheld. Any''dispute between the parties concerning payment of . . . . . . . . . . . . such: an invoice shall be treated as separate and apart from the , ongoing pe7formance of the remainder of this Agreement. 7. DLW=TIQN OF p0CWTMB CONTRACTOR agrees that all rfiaterials pr-tspered hereunder shall bo turned ovar to AGENCY uper- termination of this Agreemont I 0-f or upon PROJECT'60mpletion, whichever shall occur first. 'In the 4 M= p, VI V, , it - . 1. ". , ", __ " -, - -.1 i'IMW 7: 'Al 'j, -1% ; frr I ( 1 4�l I . tr.4.yF.• 1 - t 71 V 47'�_" r tj V V ,4 I r I 1 I 'lir 1, tit •, + rr�':: r i; t �` ,, s a {;� 1 _ • i �l {1 '•I�}•. ft :' tt •-.: •, ; t r" I�j ,✓ ti ,1(r - y , ,.I h [ C l r _ t., r l r- r 1 n E ,f •I `r` 5!:.' -�.•• 's,'., , 'r- .. ' � 1t.1 .!?tr ,r. 1 r , 5. t': r., t� `/` '<1 iri (r'A+• t v�..';r(1• :k'. 1 ..!: .- •' t Ft 1:, f ; r ' c 8 1;. ,_: •• .:,7 ; .t, ,,-, _ t.} •' .i .'t': ',Jt�-f,- ,{ � , •r..+, •r• i_r'. s, .',7t'. if �.. -tii „^j'. :,•. • .'• i, .,• .._ �. ri .}/' ) l t y t +r: r y -.j,rr is .rlr.,LS ''i) 1l: _ . .-•,t _ ? - . ., •y ( 4.,,.; '_ TL•i�i:,` ... :-, ). .., !r .'.41. ,;....',. _.. ' r L: r . r.--, y'� .r .. ., • I) fit. ,h. /' rx. , y x :;•^r- -,r1. ..i, .�Sr�i'T! ;s• !. ,._,. ._, ...L�, •11 �l: ;,, r• i. IfiF' '' �[� , a , , .,: e ,�,;.�,,:�y - _r_.,t, ,,. • ,r ; 1 ;:i (e Sl \`t.l:�lll , $'�' -i.�1 ,j' , Jr :1 1 i t ,'t ,o ,- .♦ 3 �I .: �+, .�,,� St ..�.. ,.. ,t -�f• t, .� �c �} �)r} _ rG ,,- �.; ;t}a t, is,ry }}*- �� .. ,:�+('L7 .,�}-., 5>,�L .1 't ,`, t �'• 1 tl`e I!j 1 {i �. • J{ ' . ..:•.r��y��Y ��.. .iy: t- j`l� h'.r_�. tk''! al.r {lr *rV� " � ' r),• -, , r1 �j 't1 �jl r, 1 , •i�: `�'.,. [,,,„� ,y,}�+ 1. t !•. a ;'k . - , !! ",�t� ram•`'. ?j. ., Y!I`t , 1' 1[_ ft jt%l_ i.', f,t ,,I� 4lX Lam, t Ny,r),A (•« :,4ti' u .,, :.,,. .1 U-, %� _. ,:.1• 'f).a(. :..•.,'y it,�..� - ,,4 •q i i '�.. 'i i~ i ,, i -�, •�. .,' ..Y l� ..... -,a . � � ^t �T./a: :- ,�.'., � ,,, Y•.. sY ti�•'.j ..T„ '.I ,S �S� ,L. •;/. .:r . .-., k t.,.: +. ••�� ....!•;,',: ,,• i i;,.i,r,...Sr♦0:,,.. f .:J .::'fr.....�._11..-, .......:( ._.•y.�.. ,-} . }alp.. ,.. _ .,�f. .. T^,iL._...rv,E..c..lr..►.��a+:w.,,..,.,�.n.��a: + •- �(.. `'Y1. r:j .....:�IaG:..._•.iv :.l:a � 1 ..._� �`. � ..._ ..-.._lam._+ ,:..I1',1.��A •, �rf., „ , x in wlf� (� 1� �t �,•i � I ' , 1�,� lJir �! i., , ' Y. r r 1�,�,• (( ,.'i ri 1 •'.,'a >ti tl Jr•U t ' r r •' event this Agreement ;s terminated, said materials may be usod by �;r'« _•�`_ `TLly1i AGENCS1 in the completion of PROJECT or as it otherwise sees fit. ��r��, ttr\{ Title to said materials shall pass to the AGENCY upon peyment of ,' 44,! �,. Sti .t' S•7 tj r1�1�3' t 7 fens determined to be earned by CONTRACTOR to the point of { termination or completion of tho PROJECT, whichever isit , applicable. CONTRACTOR shall be entitlad to retain conies of all r tt t ;lam data prepared hereunder. 1 i t si B. JlN T £ I CAT' .QI'L �iN T . rill CONTRACTOR hnrehy agrees to indemnify and hold and save �y r;' a +'�•'i� harmless AGENCY, its officers and employees from any and all ��}�-•; • j`�" •� liability, including any claim of liability and any and all losses or costs arising out of the negligent performance of this t agreement by CONTRACTOR, its officers or em ]oyees�rr'r� c t - yL' � f t, .=:Jr 9. WO13KER ' ' COMRENSAT1!7.H t rry 1 CONTRACTOR shall comply with all of the provisions of the } ''''�;{�_ �t `}r} �� WorkersCompensation Insurance and Safety Acts of the State of l ii t•tF i �y h,� �,t+l.rt T, �, California, the applicable provisions of Division 4 and 5 of thef ., r NK+t ; S , . California Labor Code and all amendments thereto; and ';'.A similar t �t f' �• � ,r' • h+It ;r8'.t , state or federal acts or laws applicable; and shall inht:mnity ►=�'W, defend and hold harmless AGENCY from and against all clnims, s +k �I, 1=t°`r �� a,tt ens, paymens, sus, actions, proceedings and judartents of l 'af' ' �tt,' x demands, titti- �,:' t, �•'r,. •t(S t •t �T yr' .;v ' / k,�]Ijy t�kl every nature and description, including attorney's fees and costs ' ,-111 +,";sr ��`;si"t t presented, Drought or recovered against AGENCY, for or on account r�'j�, of any liability under any of said acts which may be incurred by reason of any work to De performed by CONTRACMR under this �f Poi, Agreement. +r:' ,,+€7' �}/}"�[„ a � f?�; . 1 Jlt�•2*�I,Or`1t•',• ;t ,:,t i:i _,:,•LIW�u�'.��gs��.:s 1I� � ��'�`0.�r' Tti�„�(i.�/E'; �ri�Y��C�r�;"5�.�•`,� L+ �, �nr '. , i" —. 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S Y„, I,t 1 ,'$�'t '��•� .t t ! �i •'I•:,�,1):7,r' ,+c'"V'%. •si'•�/1,�,1 '. �1 ir. I: L tVir t�•.'i.. .� i .Y-t'.. ,. •'�,-:[ y Ulf, 7.t .(i1�.�S .tt V_� . �.'2►' S�+ii��1 ,•i11 r. „� r,r�t,;' ;, t -;, j �, t... •r,t •;f ,+ , :,( r�S f:��.� '.tF•; , �4 4 �,i: r: ,� .. ,t ,.1 . -. , t. ;+iV :ii• '.,1 •� .�.i tS:Ri ,:a-�•� � �� -MEL 73 ra t+, 4'.��..1•w'j�/fi,; ,., ,tit, ,', r,7 ,t�.`'"" trlt.i ,t P.l~, , ♦I '�, •,. :., ti, �.• . "S�(1,ft-/.• �• ! tl i ..-••. {, - .�:'j fir-. f 1 to l► 't rJ t r1-1 r •t 1 S' + .,• ,.' •, ,. 1 ,.. ;- .' .f 1. ', •` R '� •� ',�;rt •. tr : t/}fty;=✓ 73 (� fs J 1 i{ 14 jA ( 'T{sr ! ir1t1^1 ;' tj '(Sy 3,:1Y } �..• L'• S'' - tt .r ri. ,t 1) 1, fi '1,. .~'.f tl ry[-�''.#`� �'�'�' _ -R� ..., :• .! ' r �M,, •i.r , ,f , s ) ..s I!• r' ,.• r '., ';'r}•l t fi '•':+ '''� s 'Tr f •'L. t1.� j1., '}t �'- .•• ,S'a •itf:�.;�t t,� � of r , „_ , ., Ji i; � If , yy }At , 7?>l� ,,-1,r ♦ .�- .. �, ' �I y , ,1', it, $�• rt •. Ft `t � t. • > ,R ��:. ti .44jj��._ .- �� - 't ��t '} .�• i <�f'�t 7 1. i. l.�.. -F . t ir:1 .r+, r:f� �I•;',t�' j.lt,• d� 1 ,..i�I �sE+s' l��•S + .'S> �,r :r..._ L; ". 1.i.• ,t,1 �1, ff i'!' _ ,�tr {1 �.'�'• T '/�+}>,.I ; '} . , .. .,��-,/',, i i �, . y.. t R '� • ` . I • ! i 4.,1., f , •�(all 1 ' � r! '�• 'r• �` ,)1. !'r � �� ;'I �} �; i,l '� �) � '.4 % '�� ) �i'rt��t�i ��.•.C"x , +rd r f� ,1 .� ' tr K r ,[. i� fit, :R.� ,• w r , .L.t 4+. -:', . ,,+r'} . r r � •. :r.r .. ;,� ; ,•' r ;.: .l •' ' ' � .Offil '- f ' 4!r JL',+.�'�/y� �r•., + .....,,� J1. ,j.47 'r?4� `y! i, I. `'•'r7 l�t�, ._... ..•.1_...'r1.i..._�,•.=[+%+ .fr-1-'.-' l�t .�J,. _. % r 1 qqt •,' j Vt�4� hrl�' { ��yJ, '�•�I ', � f C�a'fet -t ':rp t 1 CONTRACTOR shall obtain and furnish avidence to AL NC {Ir "' '` i "�, �'`r maintenance of stctutary workers' compensation insurance and ,f't ,} kr�tl r . r r, ju employers' liability i:, an amount )f not less than $100,000 hod3rly �', � xrl�+�r' ;• 1.3 .� �,-�`j1' ,ti r• t` r` t� 1 injury by accident, each occurrence, $100,000 bodily injury by ( tl ' di,oase, each emplc•ree, and $250,000 bodily injury by diseawe policy limit. 10. INSURANCE"�i ��`'"+° "'►�� 3j •F r"'t t-`j1LI``'' A'', In addition to the workers' compensation insurance andlr�,.(',r„� • 4`, CONTRACTOR'S covenant to indemnify AGENCY, CONTRACTOR shall obtain '''�''' a'', ��`' ° >' and furnish to AGENCL' the following Insurance policies covering the PROJECT: � di �•{JJ��cc�'��'t`.:• .il! Soh Y ' � I' ' • ..� ".t A. Generq Liability I— _ra11g8• `,,, {1;.,� ` r �I A policy o£ general public liability insurance, including �•� �, �L r1 ,�jy, R''' �, motor vehicle coverage. Said policy shall indemnify CONTRACTOR, its officers, agents and employees, while actin within t:�e scope i �i �l�•`� t � 1 •_ t� _ City' �d 'S of their duties, against any and all cal aims of arising out of or ttr t 4 1, in connection with the PROJMT, and shall provide coverage •.n not ,>t4'"�ff•k» I"i�sf ,7J '" t,+� -�r ' less than the following amount. combined ai.rgla limit bodily r , 1 fir t rY ,! �, �.!. •'• J•t and property damage, including praducisicompleted injury P p Y g operations liability and blanket contractual liability, of C11r.,. . N;r{ (1' •1> f, Fey.: $1, 000, 000 per occurrence.: If coverage in provided under a form R' •'� t' rti�rr(r3 V2tr 7`•t ; which includes a designated general Aggregate limit, the aggregate J°� h'cl� fY+•ti`'�} _` limit must be no less than $1,000,000. Said policy shall name AGENCY, its, officers, and employees as Additional Insureds, and 7 .:t'c � . t• p{r 'rf{.IIt7r�► ,4ii ' r y sR stall specifically pt'ovide that any other insurance fkr .r Ieit.s�'t310. r; C;1, ' ,d , �{,1rt }l • Cd. coverage which may be applicahla co the PROJECT shall be deemed excess coverage and that CONTRACTOR'S i vi lsurance shall be primRry. . R' ti 6 �• -. ,r �V nr ^� �r T,tr n , Tr 7 a ✓ r I j x' J �' rp* v it Ct •S ij JrZf4 `�� }lL }1"i, i�.1 • T / Ir.. • a yy f * l�� 1 lf:, j 0•�qqf l� �� `,` Z r y 6 ♦1 .-� t •tA t 7 '�' �,i �' ti{�'i `. 1r, 1 1. ,.T ,'1 , I r :1 I;ir). I.. V �.�, t i'., � �l��,J'1 it✓t f�•, rl s t�+{ /:i ,,..r . / � j� •fir / !� •}t r .i � t 1 rr t l ri�•�'t 11 .{�� t � , i, r (%t1ii:;�' l L i•,. r r}i �;-�«� ),.7t, jl-. t 1 Y , +ri �. t. ,t•nr • �1 ttS r, 'tjA•,YI •l,7r r'Iti 1.. [, `•i '.�::. ��1 �y rr'l Fr e. r r t� l�.r j,ll:f .il, /.7, 11r, �t ,� �.1t'7' ,,.�_ ,r�•ir(�y�, j y{l Yqqk f •1=[ �jfy,.,� flrH rl n rtr1L / `7( .i ' 1 ,� t'�T,. ,,,', • .1! y�.. `.,,t 7 '. e. r�Srr 't 11{ :1 :, r' 1 j F' y t;• !� ,7 ',, yet t1 r ttrrs sr {s, ! } t. J! i 31 try rr��i 2i." ,r t lit sr Jf�S1 tt t ��r.r i �� yr (} fr t r ,; j •-^ t i r1t (.r!f' �r' 't'` r;ol 1 ,� - 11 7i• r r-, r '4 '�,j ti t i u T t(J , , ! �'{''{.1• 1� �- ,.J ,.,',.., �', a Y-.t,,, t _ 7 t ,! .•jy f� }/ +,J,4Y�yt {, f a4r ''�rril �l •+;,:� �, r•�'1 l r i �I{ J . r t ,•r S �' ' 1't•i1 t ''r i Iw . 1rr t . rry s�'t, r 1! :•ail! {' �r ?_ ,rlt E t11� r�J Y l t f } l�•• �, iFy 1i1 �i 1 �• ,fi I,. t J.j1 r fl:r ( .n'911^ 3�: ��Tt•t�, r. ft ' r' fir,., f t. S• , y .-yi r, 1 tltt ,t,i j l y� 7 7CS ti'�,, ,11 [ I( )�(s .. s {.'t� r��;f ,•„r ,. ( �r 1 ,, '�t s J { - t 1., Lt ., t• 2 ��I�I 111I t•'t-r4: 1 J'tt r �7 .F 2 . t,;' r j '. � r,'f'. t t'• rry`F { , t1t , • t i `'.�,., t • il}I r r1L «u y ! { t. ,• jvr•T 1'f •`i"�L �� rJ Lf: 1t{ "s �111 try; fr r 'a.'T 3�1! r~ 4 1 r,'yd ��rl- � .,, "t.,�t� '�-+n-�lC,}1 •,i '�l �" ,,'� r� �, .; , r; '� F � fj t, j � J }l, `tllifrJ� �'�'�'' 1. • �'._ �lJ.,=�1�#.ri•••,i'+ !�=r4i 1.., {,fr 1}r r( '!•( �I.'' /r• �f� 1 ,r r� rr t.,r ,r 'ram• 'i�t�'�'ll ,tj+' ,r}, Y r i['.• ,71 2 :, I , t; t. i r 1` 1 < • r !, , r f tG'f rti• �" ?.y: 7 J7 it ' it 4l� Q1' tts!i.i �'rYTj;;'l. y•sc�� ill �i� E •rt'i r,`/� .1 'pi.'Tt l,''h l r .;r t •iir•• too +' r' t , [ ' , ti�: [ r 1 t`•' S G, ((rr .I l +'[ t � .�Y r ' 1 F 4j,'r Y t ' 1 '. - r, 'Yr i r r •� 1. •++ M I % ... t ,t K 6 IFA Ai. u, 4 'n 4 Alt V I �Y V 6, -J) Ali V T— J1 D plc f allsi surange. 0, CONTRACTOR shall acquire a professional liability insurance policy covering the t-tork performed by it hereunder. Said policy shall provide coverage for CONTRACTOR'S professional - liability in an amount not loso than $500,000 per claim. A claims TI made policy shall be acceptable. T; 11. CERI!x EE QF JUSURA CM AD0JTXQN8L IWSURED ENDQRSME-NTS Prior to commencing performance of the work hereunder* W. CONTRACTOR shall furnish to AGENCY certificates of insurance .1 - —.01 subject to approval of the City Attorney evidencing the foregoing wit. V-a--". 'coverages as required by Sections 9 and 10 herein; said insurance its certificates shall provide the name anG policy number of each carrier and policy, and shall state` that the policy is currently In force and shall promise to provide that such policies will not be cancelled or modified without thirty (30) days prior written notice to AGENC(.' CONTRACTOR 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 -0 coverages shall not derogate from the provisions for indemnification of AGENCY BY CONTRACTOR under Section 8 of this A" 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. CONTRACTOR shall pay, in a prompt and timely manner, the premiums an all insurance hareinabove required. 7 F] Iai ok W.; J. 4 ; t't ggl w . �, r, -." Z t . —4., t, , , '' . , .; � . � ;%. 1. .� t-'. � r i P)i4iT;Xq �L I fti -4 X . 14 �J 11,,T;�. ; r ..,,+.t.�{t.f r s,t r.. :ji ,r� r 1, •�:!'J 4i 7ri. t '{f 'ui t ;1 `:'.; t n{.t C. itii"' 1•S'+�. {b}+;FK!`•r '+').. I V - 1! 4 To, 'Ll Jr, L , VN • T P ij 'k V 2 'JrY 1J1 y , T, . 4i M lo A It Tr! N d . 'if :7 A., I q- .4 17 % !zr .kJ, fo" ram/-4 -a k _k f i-WOV t.42 A separate copy nf the additional insured endorsement to A 4_ rclicies, %taming the AGENCY, its , of CONTRACTOR'S insurance p each officers and employees as Additional Insureds shall be provided to oval prior to any payment hereunder. <1 I Ito the AGENICY Attorney for appr. Eli, rTf 12, MZFENDENT_=RAQT_QR q CONTRACTOR is, and shall be, acting at all times in the performance of this Agreement as an independent contractor. A t �Y CONTRACTOR shall secure at its expense, and he responsible for any P-fl V. state disability taxon, social security, and all payments of all insurance compensations unemployment compensation and other R and its officors, agents and .......... ... payroll deductionc for CONTRACTO connection with employees and all business licensest if any# in 0I the services to be performed hereunder. tA 13. TERMIN ATIQN OF-8UREEMENT 11 be-, performed in a good ork required hereunder sha All w TRACTOR'S AGENCY may terminate CON and workmanlike manner. 1 4 services hereunder at any time with or without cause, and whether 1 1, t rk, It'll; or not PROJECT is fully complete. Any termination of this Agreement by AGENCY shall be made in writing through the AGENCY Engineer, notice of which shall be delivered to CONTRACTOR as provided in Section 16 herein. C Lqr2,rGMZNI AND %gUBCONTRAC This Agreement is a personal sorvice contract and the tt 3 or shall not be delegaPid by CONTRACTOR to e,-.V)F supervisory work hereunder any other perso n or entity without the consent of AGENCY. 15. S:gZXj1T ATENT6.ti ,GHTS/ SY. fI lit CONTRACTOR shall not apply without attorney's co nsent for V9F IlIF"I'll' itJ �Ir M'I Y TW A;II J. F m .'4 ; it0"4 l .0; "k r If It, jP S n. .,g :Z, lit 7 r Colt 5�- 1 A, 0" Tk M Ir "if , i !/ �' ' !`+ r''' •,l rt d a r 'lt f � ( •r 11 .Rii�,r arrt 3 t ,', 1 1, *`r _.. 4•'.•.. .'r.r...'i +�1 �..: ; {,� ( Z, J _ - �':f ,�1 rt' y,j �i.+J�•• 'i, �• i d. /( ♦ ,. t :I f' �%!^: tt it '; 'i} ^` .•o ... tl r t+ :�Ir •1 1,'. ai•,. 'i .S. � -., ,. r,., ! ., ,.,,,.. . .'• Yr,rR.... .. 1), ) 'r.1 .. •Ir ,',a. ,I E., ,�h 'J ��1��, 1,�:y'..r ��, It , ,, +• .r , '(,_ t; ,,•, rE fry '{ • . L i 1 '`arty. p '-:. r ,:; ... :,; ,. )• rf 1 t .aY 11•. r t, -r: 7i , A ., ,. ,. 1 -. ,.•_. :. '_( _ ,. � �. , ..:. !);'( 'f.' 1'. �• . F, ,( �„/ 1, l , 11 i r . 1.,1 ih, JI\, .. ' ' .,i :Ii • f T' -. ,]� • i �' �: ' J , iE 't wii..! s' � +r•'_l'i .��t�{ li , 'r. �i `c,.r,,•, '` r.. _ rr� - •1=, .r . 1• ( 7i� :� .( Ir S•7''r:f{. J..ri 3 l } .� ''')1' •`�': 'J},'•„q• R ,{_ '� .,' r i ),''J •1 r; .'', ' - trA , 1. r) .i, .t, 4. wi 1. E .ji _I '� �k� i c • - >- 1-! '.: i' :L � .�': ,'�.. 1w"�� ...: -.. .: .. + r,.. .:'af-....., ♦ i -("'.' 1: R,, " 1 , :�. r .•r. -.tq •r� 1 .i ad . -tJ'�`r,••^ .• T .. •. •w�t+w.y. ..w..r...:......�.•; [� •,' ,...,, .A )1 ., r.r' .,, ... 't1''� t a1.rU cy,� 1 .. ,-. � } •y � .. r , , 4 �trtl , ...... ,.. ,..►� _...,r ti.... _... i. .._ ... ,_ .,. .,....... , .. .... t: '�f ��t �.i{� it "t •}`� i,,�i ,,, ..� •t.� t.,i=�•� In'• „-.,LTr.r .- ...--.k..........�►+t�n..:.aitil:!•.lw:ll.a `•A+:.....k'u yrL��r r �jjjj��+� '� ~ •fir Ei �,1 ` 1r ,,j.', , s � ,i.,,� `• f=I . l t .4,J�4t,/ � ! T ,rti` . 1 � ` � ? ty�it ,f � . lY' Y , }��S{''.,f ,. ♦1, �.tr,�t'�`)•ri 1� � ( : '( '�'-,f { i �. 1 f'r" i•rT! t Rt i'11#.+r[' r, :. "7 a patent or copyright nu any item or material produced as a result f.l 'it t r tlt ! r :ry ►1 r (,7 7 of this Agreement. 1 ° T1 rr��r/ •' ':j i 16. L?3[t1J•.1SC-i.�4f�P��YF FyO A� FT jAT.� �y �tj _+ (�%� rv� � R CONTRACTOR shall employ no AGENCY official nor any tEF�+ s t� ' !• y' �r I ' , h regular AGENCY employee in the work performed pursuant to this V .. Agreement. No officer or employee of AGENCY shall have any ; financial interest in this Agreement in violation of �orn�,� r .y` G ZQ_r_Ument; Code Sections logo et seg. t ►7 L•i r 1 E t 17. 61�L�i 1eL!►i !y :;,5 ti �' 1 ' Any notices or special instructions required to be given s, { a }ccy! �71 in writing under this Agreement shall be given either b ,y rl �f, ' ��1►. �`,;,+ 1 '' g Y Personal ` delivery to CONTRACTOR'S agent (as designated in Section 1 ,_:�:32 t�{ try •'• r j rj ,; r .h hereinabove) or to .'AGENCY'S � Chairman, as L•he situation shall '��?��''; rr2;. ":'��► =t'a. r,tr �f i ttrL z� warrant, or by enclosing the same in a Gealed �� /�(�r �^irr ;t 3s trtr ��V.�s !t • T, r r 7�' ijr.r, f'�..1,,11�►1 � '• {;: .. t?j� T a'` ' i .T �,�' r r� trt ),�' .L, ; �' •,fir envelope, postage prepaid, and depositing the same ir., the United States Postal ! ` �� ;S'-�'F�r.< , i ,, � r• r� :: ServicusI addressed 8S follows: : + 44 `) r �a ' TO AGENCY': E 1 ' }` � TO CONTRACTOR: r kek. Mr; Michael Uberuaga SPEAR STREET ADVISORS Cha+man Stock Exchange Tower Redevelopment Agency 155 Sansome street, Suite 650 City of Huntington Beach San Francisco, CA 94104 2000 Main Street Huntington Beach, CA 92648 18. IMMIGRATION CONTRACTOR shall he responsible for full compliance with the immigration and naturalization laws of the United Stateu and shall, in particular, comply With the provisions of 0 U.S.C. § 1324a regarding employment verification. 9 (I . Rr{ f �'lY4rr} v / 1, r'! `}r ' ? r i,ri. i,+ . ,r•y,l�ri tr vr� r � ..�`�,ri ..! ?•:!t �'._��: �={/t,;. �`: ' , i �'y Sr{ : .d' '�jr1i•.+' t St; t , {4 SI" )llty� i �". 'rvi � 1, its{ ri•+`�...t it , ••.JI l..'•, ..a a �...' 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(.�� v `1 1 l ' 1 ,`,: f/ r'. i.: {d rl'• a .. 3 , q �ji _1t1 law W k7 t, .40 v P. 4; .1 iZAA-i Jr 'Jt to 0,• jr, ' -lot - - "Y 4 M ilk r6l 19. ENTIRETY XK_ and Exhibit NA" att3ched hereto, set forth The foiLegGinao the anti,ro Agr3emant between the parties, III WITNESS WHEREOF, tha parties herato have caused this 01 i r a ��« t 4::•u iT;,' Agreemant to be executed by and throuyh .Heir autho authorized d officers the day, month and year first above written. CONTRACTOR: REDEVELUMENT AGENCY OF, SPEAR STREET ADV1SOR5 THE CITY OF HUNTYNGTOU OVACH A mun co rporatior. of th fate of California c n lea ©ys Paul S. Salpt.. Pierre Chdirman Its.-'PresidFnt T .N1 By: Its Senior Vice President/Assiptant Seceetary M ATTES APPROVED AS vi%) FORM: Agency Clerk 10a.-O.Agency Attorney P REVIlLWED AND AMOVED: 01YED: 4eEZze2cLuti�virecLor D rector'" oAdminis Services t - 3.0 - -24-70 ROW 114?4C " ;It oli�lc KXi ,it W YPZt , 7 �C7 'p 'b! rr At i, v • L, elk M rn J W- ; 1 Ffti ,,�� t�iC! i •,.'' � I � 1; t� 7 1 r } :";,rf i ,y + 4 Z "t' t 1;. 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S e ft ,: r! `--J 155 Sans UIte b.03' Yt { r 3:r ta. lit t_ ; +� 1 ti I_• �------ INC. _ -� `-- San Francisco, Ct. 94104 �ti s'l• ,,1 ,y tS*1l,l• r_,r.. �'..-----�-.._ ��" '' i'"} ,!,�1 M! tty 29 1990 a: 1, t r t< r i �,Q fl iS t,ti'r 1 I i i 7 t�!1, ;' Mr. Robert Fran,: Deputy City Administrator HLtNTING'ft'��1 EEAr;,'-, 2000 M ' Ii REDEVELOPMENTAGEN a t ain Street AGENCY . s u Hun ttngton, CA 92648rt';; to Dear Mr. Franz; ,.r A� � � ` + ` .:t e � r�11 t t iL^ ,: %I ' •'r•` i�lr�'f 1 Spear 5ircct �:dvisors is I c�+�? , Y,..rr��•�,,�`iv+� } r,j r = p ea••ed to sere a f: jai r �y -.� projections of assessed s a consultant to t}:e: Agency valuation and tar increnlMnt revenues for thtMuln--tier 'Kist Redevelopment Nraject �J�a (the Project Area -•. t A. 1�SC1rCt� fir' St7T?�•'T/��c� CN t 1 F ti S�J{tire if We will project hi 1il probabthrough 1994/1995 esult nole tdx fr mindeve ent cash flows for the five-year period 1990 199 development in the Project Area and normttlized �r t 1 rt J rn,�tr' reassessment practices,Our findin a S .:, Redevelopment .. —. g' will be documented through a report to the 1 r may be relied upon by the issuer and prospective bondh4ldprs 'a'c ardIn findiri 8 , a the sa�rces of debt service payment. A synopsis of the report gs and roe •:r,.• P j ctluns well also be precentec; in a for -not 5uttstble for p ai Lhr�'` � ~� ofricial statct,:ent• r cnclo in • t o, w .. J' •, • sure an �'tware Ya'1,,c EIS you are , we prepared tax increment projections for all four Huntington Beach t redevelopment project areas in I9S8 With regard to the sub' }` u the trail where leer project area P ewe left off .n j P 1 938 and ensure the accuracy of the tax increment will ptc� since our last report. Significant discrepancies or variances will be f � 711e tasks to be, comple.ed tinder this assi nme !} 4 reviewed and resolved. g tlt include the following: , Verification x,�� •+ ; �,�,# ,';' 1• caticn of current tax increment r r1,1 s'y� steps: alculations. This includes the follcw�i • • ti;,� �,t1� � : t r Review the 1989 199Q assessed values Since we are in the uncertain t y and tax increment r.:venucs 1990 assessment date and the July 1,11990 assessed value tod betw con he March 1, we will make every attempt to either estimate the most roh se date, figures o r the timing of the bond issue may allow bee Jill .x incorporation of these numbers later in fire summer, luw �� timely F 3: fy the tax rates in Oe Project Area with the County ' ty Tax Collect t y r«Yl/y•' F,� ��t >r Ctor, ut•• • p; . Apply cam u ter ro ] � r•�� Y'`ri P P grant template analysis to simulate t:.e enemti .1 # l of tax increment revenue to the 8 oa '.� �� Agency. �/7�t �rj�tki�t t4 it i }•�'i=�1 ,1 Ty li LI t, " 1 L / 41 r + , J %t it f I �4V �� ult!' :r h•'fi�+,r L-i tj �!. a,t, 'l, Sx�` �� t,: ��l /s. ;J ,.r'� r ,(►f .rt l: ', �„ •' ! t��„ s:J'. t / ../,. . 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I :,. ., a.S,1 , •rt� 1 '), �) i. 9) ,1 �� ; .t'rt. 1!1 J'�r!••"Y - tu,.t ram, .. � y .. ,,r =� �,.:?'f ": C,5 ,4 � 'EC; r , ,, !1, \ •r�' �Yr.! �� ., s � 1 I •� -„ , , , l a,11,.,}, .� . -,�j .•rs� 'yX .i,.. rrw �; \ �S Cl'- 5 w a ,,y ♦ rl,�. �{+�.. ,;}.. ., .: .. ,:�...; y.t�`', .: �i r` - {, !�'} .r.j 3r? 1ralS�,'�r':�'•• , �..!„x\ r ;_t, ..r `-.• .",':.. tr•,O;�i�,•..1 .; ,t -;' •i••er' {♦.. :) if � ,, - � r>.r tt3�., ' ;: "_.:::;'.'.. �. +f r.+i �Y�I�+'..., .. .. ,,•.. t :r _ rl )'i. ' r1' ♦ .r �.'u�`��.f•i' •t.� t' t. ' _ �' :?ti• f'' + 1 it S. r ! •7. 1 1) .t {cr l G. ir= :., :. •.. _-,k �;,�t..'t r; . -.,, .. ,.` \,' ,t..r t) ,r: � •!i'.�i.l:.r'. � .1i-1!' tl':/,ri '-�� :S�a(i41 i:� r)I•- i,., .;x �.,:�I��,r�yy__ `A�yy,•';,. ,�{r.-R�r�.�;,..'.I....,i.'.r._�.L.��,(� �:-tR.�Lf.:.,�..ilii«-...:�5...., ....:.._....��'�._..._.ki. \�L �iY 1 t ,',�, r..� -: � :..iC. 'd '� rX:.r.a A'�'=.�.r'►isr:T•-::1•�I�.S.�l.:.svtaNi/�ri•. .•' j�� '�',. ��k •r,Y 1; � ,. �r c .+ � •.� 1 Ci, 1, • S Sr• r��t # Sri �/ ',; . r ,�tw •-1�•} :'. ,'�`y�,�;f �1��r�; �, e Y .,..itrs•?� :� .#•;:_. ,:%.(� .:tr.7>ir..t'r'..� X•f.):it: f.W , rr.� „�tti;�''iriPI i�)`^1!I `41 il1, �1 ti 4 ' A/� + '��• �� Review and consider any di;burser,:-Alt or side agreements vrith other 1 1 C"�; ) 1 ti- taxing ugencics. , }t it T�IS•ttZ • { tom, j r `' 2. r= Preparation of tax increment projections. This includes the following steps. '► ll' �,'�';�Jf!',fi,',1 fire in collaboration with the Redevelopment Agency and the Planning Department, idenkly a►l commercial, residential, and industrial ,,;�+ V f�+, ` Is'j` , ��rt t l developments in the Project Area which have been t'ecentl, cornplete�i, new construction that has e.ommerced, and plannr.ri development '�/�. which has obtained development approval or will likely obtain t 1'P,vent developJ approval over the r;cxt five Mears• Obtain budding permit ►��!�� '� + r� information, description of improvements, development timing, attd A.i�' ! name of development entity, if a��ailable, ,; t� ,sf J' )��ir� 11ri lt; { ,�I r' • Q Ulculate the valuation increase in the Project Area that has occurred between March 1, 1989 and March 1,1990 based on updated assessed r. values from the Assessor's office. '� 'rr�!'±' t r{lfl l't 'tr'• i� ::. - �Ct t �. r % A I% Prepare analyses of current ind projected assessed value for the period 1990/1991 through 1995/1996 based on pnovide,l information and our analyses o: estimated assessedvaluation for projects under construct on or proposed for development in the Project Area. Prepare a �; F=�`S`'tsr `•; > > t projection ana'_ysas of net tax increment p.oceeds w the 1*. ' Redevelopment Agency, gross and net of housing set-aside requirements. 1,L ��,rt, t,; t, 3. Preparation of a report presenting the p�pjections. Suer, report will rnchrde +� ? documentation of our estimates of development activity and the assumptions A. r` i [ 1 i rtz on which they are based. B. r .AND EDEVEi_OPT iwr>, t AUENCIM jt1 Ftj..J Spear, Street„ Advisors; (SSA), organized in 1982, has maintained an extensive real estate )� advismy pre lice with an eni basis on the San Francisco Day. Area. SSA has rendered r . .. .. P , r,�•,}I i �> tea tax increment revenues for over $600 million in tax revenue finaa..'ing. o- opinions o£ projected d ?• 2 Y;� , a Each of these has involv as ed review znd evaluation of property tax data, review and verification of cuanty' procedures affecting calculation and payment of tax increment funds preparation of financial projections based on SSA estimates of increases in assessed Y''' - oriels tender develo mint or x *oved for development, aria preparation of Ns°t value+dons fo. p P PP- consinitant's report. A list of financing involving our firm as tax revenue analyst or fiscal , consultant is included on pages 18^20 of the Overview. ':fa trtlo jot a''t`'` ` rr I will manage this assignment for the firm. Paul Saint -Pierre will provide tech nical }. tj assistance as necessary. Br,.h of us were responsible for the prior wort; performed far � ��,,. � •ir C r!1 � F t 41 M. •! i, • t+ : S I r i S1f t t' r5� Ir�C, 4Rr 1 ' y, ' V a { i 1 r •'�1 r n! ,1 t � � � �t.,{„r �••+ a'rt �• � t, •� r g, :. �} 1+.o� O .,�: r„ »S } Its - fit! 't 1: ry ' Lt -r; l' )r,.{�r�� - jj��yy��^'` .> '1:.:•�`r' rfr�'r• w. �y'r '��+tr r�, , �[' �.'1 La *' f` a A +' , :.t}�J, i•'tt FL: �,�,11;``:..f t f� k • s �h ':t'„=,'( !'��:! �C �'i1 .•r' �ii I+�•�r4 ,may/ 'C[ a All-,t?,1�.•. r,, ti-� r, Li`:� .::�..,, {r �. Jvy!t..Y �.`•l� �`I(�f )1.,' /�. )l�`�i''�,�4 .71 •� ..t,�•�1. } j •) [ rJ,; cif I Y:. '.� s'r r - L -•,��It ��J. i ,ill, f•�y., � S � f ��• �• � "_ IY: iti�t • 1� 1�,::�V,l �lr....,, i..: •i ��.J .'k�1'CSr Y1 +,.� ) `;1� f��i •Ri T�+,,. �'_ ' [ '•�1 t + T�[ SS*t ti)trir-��'ti >> ..._• ., ��{{ jl�t•'F_l ^jr1= 1 "/�t�• fit' yJ ', r a r,f1 ��`�z> t r) �:�{ i+ y.. f�•' 1, - ' ..�, �s tti,li I r.,.� . %t'�eJ! i-':.1.�=''::� f) ,: ...j?tr?• r .A�' '�• .'S ' . , r ,r. } �)/ 1 h/�' S x - *jiJ •`Ii;,r �l r-�.r ! s-1. ,♦ /. Jt �' '� r� a t , .1 N i ' 1' �, � i +t. ..;i � � ttl� , .,� •� i I YP k� !. �i. r !�� , �i� ��'t ;t+ r�it'��'r r 1��'7�� 'r� �. t. �1. `♦�J :��[%.:�- . r. • �. �i[ „ �� i .: 4U 14, ,. � '., S ,� , 11,.%i ,:. �. ..}, �[:� r•� . _,. t I _., � X -'.l,a i ;t„rt t "IA' i r it\�1t�Y, r ;r: � � , �ti .�[A�.._. ..' �;�.. ,,;� , -' tf !� . •. ' •' , Al ! x i .�� ,►'j+.1. '.1 ' � '� • l`r+�� '�"1�'.3. •t.tT' r��rs.t• t t::-i 'I �� ,T` �•'✓ If« �t + r •� e!• i��ilr�,' 17 tltf �i-.:,• �: � 3.• 3, • �: � �: ,�' .. } .�!�' t Ia�yK.t{ �)''� �„ '1 r,•; '�' •'� • , i'�; 'fj-.,- i4 Irh ;�1, �.�� .��,'.l,t ; �,� •i�y :' i'i�, ��;.t„ 'iii e a� � f � r i '1] r �j ,_ fi •� ,;� � t ��p;, � r c, �� J �� C/ r �-�1 �� >..�.� ��.. �7.{�1 L- '1 M Irf �t1 � ��,,,r. S. t L ��'�� ' '_.I II .I. :I t'•'��! �..' ;�':'lt ' 1, f.;.'j+�-ii��, .i. �f =��! <i )..moo. t!`.Y�t 1 ♦' ,�' Y !"P C:��J �,l,t t. , 1 1 �. o,�-tom f.'•f^ i�) a•• t ,� y `;rtl• r a�, ;. .r r.,..,, ty -`rSr�.4'i of-1..: ,:•ih �y }�, tr r f}/1jM i j'`''�1•�• i Y ) t ;a-� •r. OF L• .� OF ' ! ' ,...1: „x� a•,l < off., i' ia; r+ C 1 ,�iil t !t', Z11r +r:?n-�j ri' �' .�:�, .''�� t`�' ` `l� ��jjji �y , �, r��, 7�� f � ,/ � 1 �� I ' �,• 'r. •, t r . r�` � �..}�{.y r+�' ♦ J �} r + ('11• ' q�"> .`,.�:i^(t}�.., tS'. -�C1 v fr)r ems' f �l',a' 1 '1-.' r is �'a:_ ., ^c •�`! aT �1'.a. r +.r tiY S::N i• ' ' � ,�� r 1' 1••-i xx, r.��j, ....'. ,,,7 li. r lr r P t�� S { _ 1(f`. 4�' 1 � e 3. . ',% t:�} i"fr•(•,. ..y .{�.cj +. dP .C' t ':• +1,rt''_::,,, ��:� 1•-, ,(�' ;. A• .It i•�+v. •r.., ��+.iy�MrY��r, 1+��.�. ,rri ,r �•iv, ,�:a ♦..r r r' ' ti•. r; ,✓:) t!ris C,.'�}!� �l fsx` �t r ). �_ .. / 'l ik i•� I j,:� •.•; T � lr2'�q'- „t, t.t � .:. I .� 1 = �'I �� '+ �` �r J•: :1 � �� i"j � ,•� y tti t.,�`�� t t '.' ��:. , ! � r'.{. 1''+'.Z,j%1{ej t?,15,r rTa ,: ,'+:1;• 1 1':tif r,i r r ✓ JI� ).tt- ...+ ��-JCS r};(�IZ7♦1.1 t.S ,s't J 'r:. i.f•�1 i (� ♦.L i I � a. ► � ♦ Y1' yY. --.i f♦I'� ,t'} ��'1, �J•..-. ,, '7r� �..;i •4iSi• ','rC'� i j�J).r tt, ..A •I 1... ,, 1; �i t. ,1: T.C!�1. S t'.- ',��. }••?�it�tr.'/,�. • � +, �' [ .,).•`��.',1i.{ ." .'']�: 'l r r1 {!.: [ )tl i r �t . � ,, I r �.� ! �: F ''i� 1 ! �•r.. L L?• ` J i s.,;.�, ra;,� ,�-� i ... i. =:1'r ,... Y4(. ,.,. ,�.� L1. .-f t 1• lf.. ,,.y 1 �,. a 'r r._r!-r�r -•l I� %'tt� +:S �.F :r a•: 'i , 1•�j yr \!e�!r'�. r..•f i�f 1•,• , • f / •1 h,�;`.% , j , 1� �i', ,} c f l,~ IIX IF, F;' � I •, 1 ,'r,y•,�Q.l. ':�.5♦ '1 tll 1.;t: t. ,..,. 1 !� ?,. -5l 1` r ,u IL j v r 1rY +`.1 �, �'•7 .��''y� '� � t �rc7+A� ��t�:.� ��.,..F�,. �i/,.,•�.fil ' P,�' ; •, 1='` i. !l rr i•ir ,2.` �, i 1�. "f•ti�«""'�•a" 5 7 7 IF • ei -It Ott 411 1 . I "Ap rX, Yi toll'. rIs Is! If Isis— 4,.U&L E "A'.4 A V Mr. Robert Franz May 29lCA , 1990 qIj P page V, /'�;5,l 7++GK ' `'r , ,. _ Huntington Beach and they have been responsible for the management of the finn's tax, fit Increment analyses for the past several YeUTS. We are familiar with appraisal methrdology _5Z1 'is ' and assessment procedures and keep informed of legislation affecting tux increment lq,., It revenues. Mary McCubbin o:7 Phil Saint-Romair. may also be assigned to the project. 7- D. 5CLI DULRAND FOES tt SSA is lirepared to begtin the analyses for the Project Area upon notification to proceed. We understivid ft.t scheduling requirements will be dictated by the bond issue and are " prepared to meet the Agency's schedule. With our draft report a you by June 22nd. We IS - will ptimide preliminary estimates of tax increment revenues before that date. 'A I- ik, Is fS professional fee' for the analyses and projections for the Project Area, including the" Scope of Services above, is $15,000, plus photocopy expenses, travel expenses, data." information expenses, and document delivei7f expenses limited to a maximum of $1.500. The fee also includes delivery of our computer diskettes with historical and pr ectcd 7 Z 0i valuations, Upon execution of an agreement, a retainer payment of $4,500 is r?quested. 2. The balance is due 30 days after submission of our report, or closure of the bond issue, --I".ff. V whichever occurs first. x, We look forward to the opportunity to work again with the City of Hviitington Beach. I look forward to meeting with you next Wednesday and commencing our work on Us 4 fications; prqiect. Telephone me if there are any additional information requirements or clarl' that we need to discuss. Sincerely, It,4 . W'i I Ae. 1- Lucina Vernar7a r , Seninr Vice President J lic i Date Accepted Ar. REDEVELOP&MINT AGENCY OF THE CITY OF HUNIWGTON BEACH 'A IF q. of' CJ r, I .......... IF 7 14 }turf. . "A ,t� �. � r r , f I + , {. � w i •rid' Y ! i;'� / "It "A _0 .4 IF fir- ix's • Y1'I .ol. . 14'IrrF . , . i)a I, Is I IA, 1W ilk 51 3 JI, IF -:�� C _.�, � )I - 0 I- T- I It IN J: VA"6, or ? 4"1 Z ry(ii.' 175tj It, IF ;11 r , �w fl^ ; 1 � ' tt .t',�1 , fw ,; •,, i •r , r-1 ,'c i1�"=� ' 1 �tiv r '''ti i= +! t r C r �-� 1�1, �1• t'i17 Tf' f ry f yw , t ,1 +a }j'1} •�Y� tit •' ":. ' ± + ,(, i d ''1 •p �',� :� 'Y, 14 1 � ; d1 Y - .�.:e1 t , ,: ._ r.. •: ! a+r �:.' '�, i��• l h •r ' ' yt f' .. .,f+'r, i i rr ` • �. 44 ��Siiii ♦Mti!.f,., f r1a t ,•{'(1{f E ,�,. •.-n.•V.. L:.:«:er.....v.'>*.•.,,_.,r,...._ ......, ........._.. .. ..... , : ...'ti..: ... .. .. ., ;1�;'iy �ti 1 '� • r 1 !i '•il r n'A, :� itC�'l:jJ,iSF ANALYSIS FQR MU, ICIPAL F1NAl�CiNt S CLOSINGPRINCIPAL., , + DATL A;v1t7UNT Redevelopment Agency of the City of Junc 11, 19P.41 $ 28,000,000 1 , Santa Clara, rantr, Clara, Califomin, *, ' Bayshore North Project, 1984 Tax Allocation Noics t .f•' ' Itedevefopmcni Agency of the City of AuE. 14, 1994 2,135,000 I ' - Redding, Canby-11111top-Cypress Rcdevelrpmcnt Project, Tax Allocatkn Natcs, Series 19M t <r ,Lr =• , •I1 Santa Clata County Transit District, Aug. 24. 191W SR,700,000 t � , AdjustabW- Rule Equipment Trust CertificrAles, Series 1994A Santa Clara County Transit District, Dec. 6, 1984 20,(00,000 ij r Revenue Anticipation Note, ' (19i:4-85 Revenues) 87.1M,000 Industry Urban -Development Agency May 6, 1995 (City of Indcll�ry. CA) ,} Civic - Rccrtntional Industrial 1. Redevelopment 1 raj :_� . No ' Second Subordinate Lax Allocation S` ' Bonds, Issue of 198S ` Santa Clara County Tratisit District, Junc 19, 1985 52,P60,000 �r Wily Adjustable Rato Refunding Equipment 'Trust Certificates, w t tt t ��r7t �}��• �, tt ++ 1cncs 19851• 1• , ,- r I 1. t t certificates of Participation, July 30, 1985 17,OW,000 ,•l �1t'+ =3 �',; � a r City of Palmdale, 1985 5 n, l• f.{ i I 4 Rcdcvclnfmtcnt Agency of the City of Aug. 19, 1985 6,150.000 Redding, Canby -Hilltop -Cypress t • ��t' �' i Zf�f dkr�Z1 r� �i i .r C Redevelopment Project, Tax Alloca- tion Bonds, Scrics 1985A i- s City of Alamcda Community Improvement Nov. 15, 1985 2,315,070 • , 7. r .FTtt' fr, % tY. Commission, Ta,t Allocation Bonds, 1985 river I 1 1 •r �rI Wig f�t Santa Clara. County Transit District, Dec. 18. 1985 24,400,000 r t • :(x "", Rcvenue Anticipation Notes (1985-86 . r I L J t Revenues). et t' { '7 tL / �uj +�}, ,.. if • t 1 v r +9, � r �. 1 ..I ,f �4r r.%r+,/ rf , i . '�•Ir arJ-'f'},1111rrA If fJt f,r+t+'!r t` rr'iCt>; �w:"iL'•i 1'1390%rU UI.- RI - S+i j t!' 4 : • • • L4 !.. , l^ i. �� T,• , rr w>r - `.R .. \ -; p• f A• t11, ly„•t�,,�AMC �. . O:,itl t..:,f` S._ r'.• r r�1L ,r trr' ' rj', ++ I , S � ,,, •f'r: ,'�71 •.�,C �. �;,., �i, '. �•.2., fl!! <•f .,: . ,.i. . , . 1..'r t�.. v., � `t ' � } .i:� r ( 'r 'si tt�`', 1 :(r r1f. _ :?, y "`•} .;, ,ti'�' t , .,, , � r t f ) r? ; a� ,. i. , , _: ;. ,� ; t�q`,I� � j' c„ .. i. ., ` , �-:: / ,. ,, S > c i)• •1 ,� �" � .,+.. f _'� s :fr ..`y1: � '��'�• {t;,:w>, , a. - . :1- +•!:.':�.111 f' : r:_ ,-I ,4 p.. i'.*�.>.. ...'.i �.r. ::.. `.-.-T: �..., •. >G" 1 •�, •f"T 't t r.. '-t, 11 .t flL r •�'f ..gib,. i ,;�ra A.� -t f'I,• 7 'r. 4 •:,i' r M1r ..,t ,.r t. +i',1f %!.• ,; t t I '1 ! :7 Y,.:/ ,'.li ".1'i I. :n �} '., (i:. �!!.�L �k '{ pp }} ..,. ! 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I , , ,A . .�I,. i*!- . ' I .,:,M . I.*. i, , I ' I �. � , ,M�I �'!..1. , ",t ,.. ��I '�MI �.I!� I"M �-' �, I., �I,1, ,- , I��I-I, . .,I,I�, .�-, I , .., I : I-. ��I -I ,I,.�,.,,',I 1� ,�I ,-. ., ..M�1�I.,., ; , 1: ;, -,� -.�' . ., 1:I ,M, I ,I:.,,, I � I, '. -IiI*,, �- 1r,..M,, M M� , I 11-,I,i,C ,I '�i-, I', 11 , ;--Iz ,,. . �- I , ,I , I., � ,, I ,..�,:II,.(I, 2 I. —,-�I I�.f, ,, .'. ." .I ,. ,, I , .M. lI�,M, ,..It ., I- , I� ,M ., .,I4,, , � ,. i , ,". i �: . M , ,'iIM ,--,M �, ,�,:- , .l i,. "I ,. . ! ,. . :I0I4. ..1� �iI, ..:� _� ,I,� I� 'I. . t.. ,. ,,I, � I ,," . I" .�- �-.. I, ,�. '��.� : 1 �"I .. ,I 'I� ,�r '"��, 'I; w- ,,I I -,: I.� ,, ,,� , 1 I �-�,.�, ,.�.M,� I.� c I ... . M.� � -,. .,I. � .,�,� � " 1:I ' - �I'.M- , 1.� , .-,..1 , ,q : . . r .. .., rI MI �t.i�MO .,M ,- . � -, I,.: M ., JI _ M ,. p y r _; ,, 1 , t, l_, ,, I Sn }} , a( ,. t = ,, 11 �- ti'. , 11 i , `•.' , '! 1 . 1 '' I-1 {}. .-1) ih' rt 1MM ' ,.e , l. ' - t .1• :. t , ' I , I tr I',t T ' `, Ii , 'i i ', ) :. � ,-I - i ,: 1 #1 """,/ r j� ,5, ' II wl E' r + .i J f t yI (�*,tI .1 / hI - .-;.—.:-"'.. M.. III_'_... ........ -... .-J1-.I...- _.... ., s,..,,,-.»I..,...,— # ., j• t it .3 /, - . . 2i '�11* ,? It Iv ,l .,. , 1 11 , ,+ i '' . i, M, I , Ir CLOSING PRINCIPAL '``I' r t ISSUCPC DATR AMOUNT it " , t 1.' Y f , , i t Y •, t i. I Dec.37, 1985 5,100,000 +i ,�„ < r, 1 i ' Community Redcvclopment Agency cs;: �r ,, " .< ;;,'. of the City of Palmdale. j -,, i i''`.•t, ;• r;' is i' 1 •;i I, i ( i Tax Allocation Bonds, 1985 i►u, , \ ,;F � r ,� y i . 11 :,',! i J {, ' i?'' City of Santa Ana Community Dec. 27, 1985 98,500,000 M r I ' 'tedavelopment Agency (Compo�sitc J - r • .I Issue), 'fax Allocation ponds, 1985 (, 1 Series -D , I; t� /, i'i N, > r t ,1 Redevelopment Agency of the City Dcc. 30, 19115 72,180,00O i + , , , ' of Concord, Central Concord Redevelop'- 'i ' ` r °"' ment Project, Tax allocation Bonds, ' M , + , ,• ,. Series 1985 " , < t 04 , 1 t, -t t . J. •`i l Ii 1 , I. , 1 ' I ' i''il 1ti 3�j1 ` t , 0. Dec. 30, 1 S85 z0,000,G00 r f City of Santa Ana Redevelopment ti- ?;,.K , ,� 1 ,�i ,' t AreaTax Allocation `' ' •'t, '�' r Refunding Bonds, 1985 Series E ,►� , , h ? < <; Si 23 ,. I ,J I Chico Redevelopment Agency, Southeast April 15, IM 8,400,000 ; ` III +1 : i = I Chico Redevelopment Project, Tax ` Allocation Bonds, 1986 Series A f;f}ti „k, ",Al ''' i' Redcvclopment Agency of the City of Aug. A 1986 5,850.000 ' ' ,-J. i t,; . t'` Fremont, Irvington Redevelopment ►, � r+ r `I -" tr ;` , J ) n I t1 Project, Tax Allocation Bonda, `' Y, , iu T , rr t I, i, ... ' f' Series 1986 ;"'. r{ ; ' t `' \ V, West Covina Redcvclopment Agency, Aug. IS, 1986 19,750.000 J1; t�'< ``' r ( 11. r{r (t I Central business District Redevelopment j>:_�, ' ?". '.. , ; . r',►'1 Project, 1986 Series A strtd Eastland ti ,' -�Yf 11.'I. ), , ' I Redevelopment Project. 1986 Series B v}t. a . % - . .';,� . i".�I . T t ft Si 1 r'"': ,- f', , L., )}f II 9 ij �tt ,y i , JVIIU+iW l.OUlllr I.OnimUlllly it1 ll�;rNlVtllllul,t Au ki. ^.1, 19Oe. C'A70,000 C''r , 1 41 t6, .,"', ; t� `'!�;,, ' ; < 0'c, ' I. Agency (Composite Issue), Tax Allocation r: t► i, r L . - 11 , r: Bonds, 1986 Series A•C .. ;, , `, t 1'y , ," W r >i�' '� �, '7,, L{ Santa C1a T Wct Revenue Aug. 19 1987 'i, . M,{"i, -1(t r :t V I t ra ransit Dis 7 000 000 , , ` r ,,. r� , t` i' Anticipation Notes (1987-88 Revcnues) ', — `y' 1 , ♦` ]. 1 , ' f' '�" ' 11 , `4 r; Rcdevcia inent A enc of tllc Cit of Aug.26, 1986 4,500.(k'10 ,,1 ' x I. t' f % t 111 P S Y Y g rf,� y �` i; ,\ i,;' +,, si,�,U Y° , ,}� /'' Lerkelcy, lycst 13crkeley Redcvclopment ,'; ; ; ; �: ; ' yir rat , tI ',F '' Project, Tax Allocation Bonds, 3 �,s.s. ice',", ;%,), r ,,i: , t rl ,: , / Series 1986 ,?�:� T. t 1 + ( It 1+ ' t 1 S p.� 7 1, i .:2y� '' Y. itS i! ,fii , , Sri. 1 , ,t,, ` { it. Y it t .1.t t'p ? u\ x.�, J r'`i '2 {,., i `� . 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Ii,, - ,.', .u• .S 1•'I J l ,,•'1 •. T 1 1a •y ;r, ll�• i ,��V•� 4.., , _, ...i 7r;I•,, I. , `' i .,5 , ,.. .. .t , : 1.7,,. 1i `1' !-�r�+.F'i '1 r y.f 1. -- .':;.� �, {A •.'l' t .I.., 1r' `} ,,. a. ..v.. ,/r r : U, . !.)\ ih•'✓', I ,f, '�,,� r x:. t.f- i .t.f' 'S I' ''t I . ,ti y.. L, 6t'+i. q ;. `'�';. , `: ,:•i :\, ,1.r era �w.p, ee p ss 1, 1 IM,t •irl:r'. rl.. ,, ,�:. ,ji -,.: ,,. '2 s .... - :, ,, I' -, < i' ' ^ r" i .1 :f�1Y ri'.i Ti .1 i, i �.r�,i,71., • {,,, ,.1 -..' .t', k: I�i - r ' , {} 't>•' ;'_ Y :, •( ! ,• .r �17, ,1 . J S.' ' t t . 1' r , I. . r j r t , ,: ,,", ,tp� ,, 11 _.., _ ) :. y.. ,, ,. G'' /)5+ 1 i ;:` �.' I , t', �l � ,' t. ,'�. 1 •i" '.� 1 j•. r,, ,Ili. �.it /, , 11 Y -[•':, ..-.-..:,.1, .{,. ,,.., rj1 .4 i>t i :i 7r'1' Y. ,, .4 . 1 j 151; �i •`, i ,1/ ,' ,:r '� .3 , �1KJ t �( v , .,':•Z.. K17 , 11,I. I, Ni4 "� ':� t r, P ,! ,,, yr -.y' "4.,);, } .»...:... r,� .,•. ..2 I. ,.. :;.. !„ ', ,.. r - '' L� t^ i t. � t. ij•,. :.1.. i ' 7trf if ,i',u• i , , 1 .e; ,L "!, t ( i' . ',. ,t t� :� , j {•l J , S t t' t'x{ +/ , ar t , r 4�' S \ , r; j „ , ? Vpl 6:Y Jf t lilt 7 �4 Y4 CLOSING PRINCIPAL ISSUER DATE "MOUNT -1 Certificates Refundin, Jan. 15, 19R7 19,440.WJ or Particip ation, City of Palmdale Vaca%,;I.lc Public Financing Authority, April 28, 1919R 11,950,000 . Allocation Bonds, Series 1988 41Tax �� r Financing Huntington Beach Public Fin, May 24, 1988 26,775,000 Authority, "m Allocation Bonds, Series 1999 Redevelopment Agency of Plic city or July 13, IM 5,0c0,000 Hollister, Hollistc.- Community i DcvclDevelopmentProcc Tax Allocation Howls, genes 198M Ericryville Public Financing Authority County. Sept. 27, 1988 20.243.000 (Alameda California), 1988 llcvcnue Bonds, Scric.; A Redevelopment Agency of the Nov. 8, 1988 35,000,000 .'1, '" - California, cuy or Pittsburg, �t , `'Los Mcdanus Community Development Project. Tax Allocation Bonds, Scrics 1988 Redevelopnient Agency or thc April 11, 1989 6,270,OM City of Ilayward, California, Downtown Hayward Redevelopment Proica Tux Allocation Bonds, 1989 Redevelopment Agency or the Dec. 27, 1989 4,720,000 City of Hollister, Hollister Commanti 1[)ouioln mont PrMort Tax Allocation Bonds, Series 1989 T3TAL Redevelopment Agency of the City or Richmond, Tax Allocation Bonds, 1990 Rcdevelopment Agency of the City of Suisun City, Tax Allocation Bonds, 1990 PIE NdLO : tO 015-9 1 -SU 28 Pending Pending $675,710,000 (April, 1969) Iw ri !T,, 1 .7. , j 41 4 -16 T '.f. •4 '•La 'M'�i .,.,'tl.,.,,. 1 ,1 ,,`�� ,,; .,,. , ��t{• 1t 1 , f i-• {' .' hYj U4 te Jtr QL 1 4 41 F& J; 4 tA' t V iiot ? ,!. • lit j�.;'�J •.� -}f,�, »jrlr r,.,ia (t f� .. t,�r' j 't � ,t tr. r`+'� „t%• i'1`; JjI t - r. ,•J• C:1 i- n! t + r• , � s rant l' . � i ,. - r •l li ,� 1 " �. ,•a l '=it,U ,{�� , i • ir•� } l � i L - - � , 1 : r . i 4 'i', , I f ait�'+G3� ', '; rtIN d i I ;t?f !1 • r r 3, .i-.l r ...__ ��'. ... �`� 4`/ _. „ }•s�} ,4 - 1 { , t r.• • 1 ; P02 -000 (4151291 t Fax, (•1151 291.0929 J �� p�Ql Stmh, Exchange Tower _ •,' ` t ��a� � ��iS��C 155 5anu►m►r Street, Suite b5n i�• i ',+f '1r ::, R.7 San Francisco, U1 9,1104 `1 N11 61 LAIit A N D U 4 , ,.t ' t �,.,z? � 1 1 , �, - • ; i i - �{ it , rr' � , � ,1� ..1,,. t1• � t� 'T1''. ,I�,1 �, r TO,, Soh Frain, Deputy City Administrator r CITY OF HUNi'INCTe`1N i3EACI-I '1 5 FROM: Lucina Vernazza `' t D ►TE: May 23, 1990 • Y ., li RE: V••'- �, of t1� �I..L2SYlA, art i J,! 71 rtF t 1'it�rI[tet:el�tent Pro cL1�519r , aM le rule �s},t, t r J � �l This inemorandum outlines hew Spear Street Advisor ) i'�Y�,'t • ��t''t, tip'' p (SSA) and l.,avcnthol & Hanvath � (LH) will work together as consultants to the Redevelopment Agency regarding tax t rr 'rrr Increment revenue projections for The Waterfront Project, My understanding of our , working relationship, basal on this mornings meeting, is as follows: LEI %vil! project Transit Occupancy Tax for Phases I and 'I hotel development, 5...t Aj SSA will ptojcct tax increment revenues for the entire Main -Pier Project Area, including a separate estimate for The Waterfront project, LI•i will give p j (net operating income before debt service) for SSA its net income ro ectiar� the; s to use as th e basis for SSA estimatcs of assessed valuation growth y t.' i •' , i. ! i and tax Increment revenues. )`` Y SSA will= note LT-1 as u source in its letter report proicctlnb i:iX increment revenues.`_ tl I r t: l ,t�'•a� , ��` i !` `r . 7� ijit J a ; SSA will define more precisely the net income figures needed from LH, after ;J t discussing valuation methodology with the Country Assessor's Office so that }' t.";tr•ytti r'' ,., we mirror the assessment process, } r SSA will estimate the tax increment for the proposed spa based on information provided by The Waterfront Inc, or its consu'tr nt, x 1•t',' lt,�}�yt ' • �I�,fc`•# e, r��" r .VV000'''jj{��..��iii t •; ) + il�KYj�� fl,ii•� r K.4r. tj t '• 1 i ' ?i cc: Joanne Sohota, Laventhol & Horwath t r ►r i� Y r t' Richard Kipper Laventhol & Ho' ..s , . � rwath Stcphcn Bone The Waterfront Shawn Mill � bcrn, The Waterfront � �t r r r Scott Sollers, Stone & Youngberg ' �`' Bruce Hanford, The Robert Mayer Corp. !� 'r�''+!�: 'tl'♦�- r �+ Hunter Holding, Stone & Youngberg ikr.r L r Charles Adams, Jones Hall Hill & White � -i' � f t,t � t • rl v; ;�t �� `� 1�Aj". r ' ! t } T "'ik � ', • = d! i..�•�, ,��iTtl Y t•irJ; 1i r_l, r Q t t _.. 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',• „ftL k�i� tJrrl �. ►�'' -'t'l ,t r �i J.•rtt J1 fwc'• �� #J 1�'' 1ij ;rt. •�,' +, - . .. +: I• „ vt� �i }j3 t1 i r e �h t,� �'s�(t f ( t '�� ;� r c�t,{ C{t /♦1`rt r ;s \1 j 't 'A 'f. i '",1a, 1�4 #t •1 i e+ ,,. ` •:.:,, 4 rt�.(`,��",.1di', ./sli ; - .. ,�1 rr ,1.'.: 'J;l i�/)',. i) t •t..'. - ,, . t �' - , !' - g7lN I t .I t7t�l'.,"1 • t it 7t + j flr , a •• r , ' 1. ',. r,. �r _: , 1�'rr,t' Ir • , i''�]t7 ► el... .. 1 � I it YJ • i . lr t / rp..rr '. .." >� .. ., ', .... ".r ,.1 , .l:.trl • , I' ,. ', ill t i�, i it •' , ,' ��; it �3,1ri 11 rr l: yJ pjl Y' ,� . r, •. N , �i f' �) ,r ,�. , I 4 ' "f ' .. t.. r i r, ♦ i , ` , ii ,: �r ��,-7 3�r{1• t �•.' .'�`�ii l'. J F 0' 1 a 1 '' .'�� tI M1/i.1{�� + x1� r M1 ,t'� r f .. f ,- , Sir ,-.'\4j..i,�r' . � f { fit• ( - l Y .,1:: ' A - I _ 'rr3 v�i,t�ti Fr1 , „ r `z 1 ' t , 1 _ r 1 t• f r ., 1!, ttj .! •; ,•.. I , l ^�'. if..; r si! ' �i��f �t+rr F r .,, r s „ I'� `• '= F i`�•-, •-{j. �` 1` Ir' " � 't.'�Y - ; 1; t'+ 11?v 1 r,1 t i r , , r ,- :. ,. - :; •i : � t ;.'.l it tsr' 1 , fl - ` I - , ' ... 1 ��, ft(.j��y✓�F,.}}l�'�,,.. 4'r ,rh ` ('Zt S '-' •I'll • ; $s t - I� ,. 1' '' ,s r� t 1 �I� (sr' i' * � ' i f ,�'Ty , r '.{? r rl,, sl t 11 ff i. TI •Sr:''t � l s '1, `. � ..-.__.�_._ .... _ _____....._�_ �.. ........�,.�.�.s........; LI��r�� i t i p+ �rY7a `tl •,f�•� It i ,.f��ir WATERFRONT FINANCING TENTATIVE TIMETABLE Task _ Responsibility 1. Preliminary meeting with Bond Counsel/ Underwriter; Agency Special Counsel 1 2. Request for Proposals from Consultants: J 1/••,� Hotel T.O.T./T.I. Analysis (Completed 5/17/90) plain I'ier Tax Increment Projections (Completed 5/17/90) Financial Advisor for Debt issue. 3. Meet with developer to frame issues and outline process It 4. Approve: selection of consultants 5. Complete Hotel T.O.T./T.I. Analysis. .I . Complete Main/Pier T.I. Analysis 1� ,Zr-Yl B. Complete Analysis of Financing Alternatives }' 7. Prepare Draft Documents anti PresentaVon for Credit Enhancement 8. Credit Review/Final Documents Ij'i�` •a'. 9. Marketing and Closing-- Debt Issue 10. Funds Available ri+ 41 Robert J. Franz Robert J. Franz All Parties Robert J. Franz Hotel Consultant Tax Increment Consultant City Staff, Developer, Financial Advisor, Underwriter. Bond Counsel Underwriter, Bond Counsel Underwriter, Ilund Counsel Underwriter, Bond Counsel Est. Time Required 1 Duy I Day 1 /2 Day 1 Day 4 Weeks 4 Weeks I Week 3 Weeks 4 Weeks 4 Weeks Estimated Completion Date 05/17/90 05/18/90 05/23/90 05/25/90 08/22/90 Odi 22/90 06/29/90 07/20/90 08/17/90 09114/90 09/14/90 'lr rS'r/4� .� ,r '•��. It �r.' � r': tr rr :t , is t'r ri�,.-� ,.r .+-ry ',.X "M1 Y! �'M:R2`.._�, `c.y � � ., f. r... .�.•.�,.... f,.,l r 1 r S, , Z �. ( : t � t sr 1., t ; /f7c ,X+r!" } R♦'1 M1Y'(1 w y�•�}��/ ,x1. p��y ,! 1 iYr �, 17y�J �' , al � V / ♦. -l%•.f r 'ill ,t1, 37/ f 4VY r1 L�:�f/A � rt�Yp1,Si,wr.o{i(7PI�.C�.rJ' �IFJ � Y�Lrf'�d %y�.r�t`�t,tr'�tyt 'f �r__,r lstl •iLt,'rr le.�� L ,, it ri _ i rs f t .. c r 1 : J! t Y fN: �'- f r J , 1r}) �i 1't f,. t i''il , �! _ (. /tl.�M1 r 3„' ^ / _�! r, lr':i �F •t�.t I 1 pp 1t'�rf M,''"�f`t > .'{�'.t Zl !tl I l r• . 11. i .,�1 f1,� r`' f�•.._ '?1��e'' r' '1" f ry�,t ,1. �:�, � i,v rc. iaj I i' rL•l. 1; ;.��• '3.! r r 'r• I t t � � tt � )�/ t^r ::.t ��l�„'��•' /j;4}j :�. f.:''r 1i �1f•I,r , S.V«I r• - - j, a., f ►.' �� ,, !' I�.r y5 :; '.it. ,. .� J..tj . :•ri �r /\ r`.� !c r ,f :.i/ .�''� r s fl. t `•� +'rr',j�)j1�1 ,, �• fr5t�1 :�,ti t.'+� �'� •1,✓i Gil• .col r • .r rl, 's.;;= �= t'1s,,, �;,Jl ,,{•.}. J ,,r , yh.. •,,/� "+J'! �.ili. �r�'. }, .,4 .•r.lr��?l+ •sly• r , \ .r'.C?'f r .i'�♦: ijt `Y. 'c. •I' ,t• Ss /�.��l,a'. � Tti' 'I` ~FIS ' r � fr t, [• i �� ,� 'r: ,. 6 1 tY.� t /S{ S•. i'r`: J.S r sC �jiS,'. �,I ,,t•;'' " .•� ,' -•: r ,ia.�•, t �..tl:.. � ♦I `r s �'�� 1> /.�w't a T T�� .;7�J.t,�. .T• •, ,41•,�01,�.,.. _s -.his , �.. '.'J y l,l'• t. `.L�,r', •., i, . 'i'by , t. 1!t , t,.lirr t ' s ''t! , i�' f ss.l. pA:. �v' : 1 a J It '�} tf++ 1 rt ,Y t,r " •. <�' ; 11r r�^` 1' - '' +t , { ,� '1 ''k c ' �}, ��,. tl+ fr ,�� ' a,} ...{nt tT x`- tt t �rf , •f 1} - It i ,. M1, t -', r« `:.,. a ♦• r 71;r. b.Y t r 'Y . �� •• ., ;} •. f�{ 'x.3 r,'�w :'►1 try ,. , y��Y:� 4 ; ',y . ,i•x' •;:,r �'t; t 'r, i< �,,,t. c• �.,5 es' �[ er. r >; a e t lrri7J.,f r "' CITY OF HU11" I "INN ON BEACH •��E�t - r c try � � � � ..�... �" iii� f `'�� CALI FOnNIA 92648 29U0 MAIN STREET OFFICE OF THE CITY CLERK 441 ' Nlji; r + e dune 21, 1990 Y„ 1 ir, Spear Street Advisors `.'', , sr �t� ,s' x� Stock Exchange Toiler � �• 155 Sansome Street, Suite 650 San Francisco, CA 94104 Attn: Leciana Vernazza, Senior Vice President �A,, rl Il i The City Council of the City of Huntington Beach at the regular meeting held Monday, June q 1990, approved an agreement between he Redevelopment doAgency of the City of Huntington Beach and Spear Street Advisors for financial prof(nrtions of assessed valuation and tax increment revenues pia �`� `�' j ''► $' for the Main -Pier Redevelopment Project, i a ,,' t �« tr .. \, ' ij�F 1r �4,. ��, +.. ER rAt•'' r Enclosed is an executed copy of the agreement for your records. r� , /' , {,r t f . ,;•! i'' �` ' her 4r,�r rwr�� t )y 'rt, 1, r lout fi'1ry Lr N4){ f )1 Connie Brockway i As City Clerk t {•,Lita ;: �'�17=it tt �, ).,;,: Enc. � l- ��>✓�ti� ,� , {�f `f '..f tt Ir ,f! 't _ •1 , ,' "Y �, \. i i♦t , 1V 'J7 r , t.' t�'t�l r �t '' nl�!{ I;� 1 t� 41.0 ,� �l �- 'i'', 51••. eity 4J t�.li ,' L"4�r r , t.: A•. ' f J. r, ! .r' 4 iTr'rp ! e�r f ,�(;S t/r.• 1 �7{r ,1.. 41 ,! :a=S 1{t .r � � �i.•ti t 'rt4' t� . iTelophone:714.536.5227) ��;eL *'Mi"l.ltj,r ;.7!;/ 1��\' "`.n �e:; :+.a•n �� r.. ,"?s;+l�r�L•Z:ti4k1i, !1++"jJ. _�,�-«Y{ y'r•... kl�l,i,.r.,. ,�{•e'«i 7..rr ?f !,'. i,:ht' -rI , t.c�} l' [�i. rS.e,.r 3tc!.,.•T,�t'T,• ,�.4.�.t �.,.•.�v, � a-Y: a,i.,�ii a 'n ; .:- �"..'«-"�•�"^:a•- �irt ,�Ty_ 't�',•••ti. 'i1rt�L'.-y7a-. �. C •l.�.i `. Y I,� r 1 t. 1 1 t r t e ', o f t'L NJ! - •,'tr; , t f., {, Il[t.,+ > , � '},;st. . -: r ts_. .:?:., tt r j ` � •, H7 t'p {_".. f t,•,:, , ;`"1 �ti ,��. a�4S ', .� (l,t, ,` r,, �f' ;1 't'. .Y t'1,r, " .�` t�'. f` ` ' f,,• r A'i.`""' .t:, �F r' Z� = t ! J+1't r! f;}# `.1 ri1 + lY i i- t f;jCr tr�,yr .fif,. I i}t4•"� v," -i .t. t': a ,.�1. r «_ i r!'4 {:•'f .�C.+,t' C Ff ,0j 0"f i` 1 �i l" ? JI ,+t +'ir�f r 71 IJ, •t •c. S .`•1i :` [t •! y . r. fi, r i t.•t:tr�9( _., I tt 1, '- ` ,k• r• � 5AM5RR i4 it r 4r,{ .'' ,.!! 1 Ij: f` �1} 1 •� , I r- I " ,7 [!'.i�' 'f,'lt.,�ri�,,;,J t •t.�r`•: yti `. �,{r>.f �+:� J 1 �' i. ,t ■r`k,t 1•• ...> , , r"' �1 �.�'( �, � •. t.r:: tt{ t'r ,�.,.IJ `�(•.�� '). t ri r��`jjjjd�-tf�s' `r..t7_� tj, rr 1 'I' 'il. `r.l' l;' t 'I..i „�'1%l� k, it c.,' •raJf�,i � a))'�'�+�t1.�' �� i rl, tt,i�, t , , , r.t L_j' �,•,i, 'i .�{y,� t, y� ,, f�� «J ra n f.. "1 71-",i'.n = J ! t_. •a 4. t :rf r' , �, Ifll «, i 1 e moo- •i.:j. ! r,;, t, » �� ¢. �r•.('7r'T,r J .371,:, ,i�i:°1,• 1. [� �y,•f ,r .i• 'tr •��' ,': ,,tr =j t e ;f V, ,� � 4'Fk ri t r - „f' rt-'1 1 , `t.�,�.� )1 1 .s• t.- 3,, 7, t{ ;,lr `r, ,.1, ? r.. _.1 ..' r ,,J'"J , i ,�• 'y L1y i �f.� fl r�'/y9r.LM1,,gI� 1 t.2, t7 " r � .ie. lYt, ,, `l. � , Jr 1 J. I - , d! i:'J�t ,,y .r��•�' fl't',h•,�'�Y'rt''. +, ��! ♦ :il.i.��14.! r •.;�k [t jl '.Yf,t , « `'. r I , :r ��,, '.:'� ;.t) {;•.!.'.: i+kt! �p'�'el•S?r ., +�%h � i �' 1 t ti�i �: !'1 r• y;e � ,, ��'. =!�i .. 1.' !'' 't .S. �: : �t. + ,i ' 1 .� 7` 'ji/�r �� , J, �,{ ,t'�r jj��'.�,,�, •i}r' it c ,lt• , t. <1 , ' r e., +t`k 1, it Dili '1 •�,(tTi, S. )',�C 'vE 7,'✓Ir. tl a' r{r [ �f /r �.' `r,�l,' a 1.. 1 r •,.'r,., c - e « , fit; i ;1 r .t,� �ii 1't �';`ir��Kr�•'��1 'L t,i}'.�. ...��/.��. 11•i.. 1 •..s ,.�. �t� "4 '- , � r� '�J-ll� ��,iy !��r,f �.a!t•t:1. t , '(t " r _, :r 1 }', ,•r•, , •air, r i. t 1. : 1 �� ' •', i, {,�� 'p it ,,• � _ 1 }� : + i r, Of do s i ' REQUEST FOR CITY COUNCIL/ REDEVELt7PMEN 1 AGENCY ACTION ;k 'a,� June 4, 11.9^0 Date 4� Submitted to: Honorable Mayor and City Council Members 2 ; , T 'Jbervaga, Submitted bi • Michael T. City Admt►tistrator% t t'i_A 'jr 'j � 4� �• �. ��: �' •� Prnpared by: Robert J. Franz, Deputy City Administrzto • �y „�; "t - r f &FIVR VED ITT GI cq t• �'a: ,` 1 i Subject: WA'TERFROhiT PROJECT FINANCING tl "; TAX INCREMENT CONSULTANT' Zj -49'� i r '; � ' ' ''; Consistent with Council Policy? Yos [ J New Policy or Pxroi �•• ttSiT""i Statement of Irsuo, Rocomrnondation, Analysis, Funding Source, Alternat vo Acti s, Attachm ` cL ' 1'� �f - 1 . � • il, ,< CTJ►TEME*1 f feeptE ` ,'''1 `' '' ''' The Redevelopment Agency will need to issue long term debt in order to meet its financial 't•7r ` obligations under the Disposition and Development Agreement (DDA) with the Robert Mayer Corporation for the Waterfrcnt Development Project. An independent analysis and ! projection of the Agency's tax increment revenue from the project is needed in order to l� J, Issue a public debt offering. 1. Approve the attached a eement with Spear Street Advisors, Inc.,o prepare tar. PP l;t' P t •;, ' increment revenue projections for the Waterfront Development Project and the Main Pi H d 1 5� ;� �'_4 j a eve opment project area. f r 2. Approve the waiver of the City's professional liability insurance requirement for this `;7r � ' ` agreement (Section 10 b). r 1 ANA SIS: \� 7 , Under the DPA .or the Waterfront Development Project, the Agency is obligated to t, expend Agency funds in excess of $20 million for public improvements and mobile home park relocation. Since the Agency does not have this amount of available cash, at least a portion of these costs will need to be funded by a sung term de1=t issue. The debt would be , #t�,1 f� �:t,'. s repaid from tax increment revenues and tiansieni cccupancy tax revemies available to the ,t Agency. Although staff and the developer can prepare estimates of t!:k,e revenues, a 1, it.': ► , =� public: debt offering requires an independently prepared analysis of these future revenues. Spear Street Advisers performed this analysis for the Agency in 1988 when the Agency r '' issued debt Their roj^ctions prove to be accurate and their —.,,irk was performed in a c ,+ %.� timely manner. Staff has Selected Spear Street Advisors for the current assignment because of their past performance and the fact that the current project represents updating their prior projections as opposed to starting from the beginning steps of the tax t, 1 t increment analysis. For this reason, they can complete this project faster and for less ?I cost thUl other firms. a 11 .. a .. { � 1'fi,�*+ I�i ♦at* .i`.,:7'�'C. '.I y`, y. IMNr�.w..a.scow\..••. .,+...•.•�w�w..rwri...,artar wtna...wJK-�wrrtra,rvnr. •K'%te47ta'.tty yi!wnwAvtr raT%rv'mrRXVA rX-J 7zr W:•,+t.';,T" -•11 71.rY ,�'-r•••••S�,+w4 ,+. �1}y':! , '��fr, 7�{ ., a� tt't*'i 11 2 r ; � r ,, r •' �.. �, , 2.1 4 r yt � ,�i � ( t It •a . zf 1 1 AT. I �,Y ci - '�� t••i t r I ,.'`'t,I i . :':+ ta';•; ;„} :: tr i'i' _ .,i ... . 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' •J'1, : .! 1 '.l t', 'Y 7l �I b,4 �' t 7 1 tl t • :� .. ( '�f'\ % I r•.. S}' '�: 1 1.4 t 4j-i.''. 1 ♦ .. .\ ,, i :A , + \\' 1 } l•' ` ` {t.` `^yj iir e + P 1 YJ 1�'� F" i I e • ,t r, !1 ' ,�}..j eft • I• y �• •r f. ', 'r v1}t1 txf ,� ,��t'. �l\�� •yh4 ,t � i !i, it 'fl-';1 • � • � r ,l'.. rla, t.r �1.111 r (Ji )t: � i . .. .. J _ : Irk 1Ji t i t �� 1 -'• t I jl. r►. '��' RCA -Waterfront Project t>• Financing Page 2 11 Their proposed fee is $15,000 plus expenses limited to a inaximum or $1,5OO. The estimated total cost of these services Is $45,O0O. The costs are to be repaid to the Agency from the proceeds of the debt Issue. If the Phase 11 hotel of the Waterfront Project is not built, the public debt would not be issued. The Agency would expect to be reimbursed by the Robert L. Mayer Corporation for these costs in that event. We have begun discus .itta }' with the developer to have a formal reimbursement agreement for these costs. ,�not, r, s Spear Street Advisors does have proressional liability Insurance because the cost is • " prohibitive. Starfrecommends waiver of this requirement since the d:,bt issuance ' 't procedures require extent ive disclosure of the source o; the projections, and the f acceptanLe of the "risk" of relying can the,projections oy the bank issuing a Letter of r Credit or by the buyers of the debt. • "' i , '. ' tptt r•' r r ' 1O89/93 Redevelopment Budget. Costs to be reimbursed from proceeds of the debt issue or the developer. tL7"_TA�}3r4tl 1. Contract for Services 2. Ten -tive Tlmetable for Debt Issue { �rt} ar Y; �� rt;` 111'[�i3•TT.A'fiV1~� � � '`� ' '�•s�':; t •, , ,� � ', 1. Wait to retain consultant until entitlements are obtained for the Waterfront Phase lI ' f'' hotel. This would delay the debt Issue by a least three months and, therefore, delay the Agency's ability to meet In commitments under .he DDA. 2• Rquest additional proposals. �Yir `J� t,`` �1,�:• Sr/46h ' ,-s7t Cif t4,1• r,�,•, `C I J ii ,, S1 } fY `, � .-,r`"r. E�. r1.` ` fir{ ✓ �; �� ty,a�' •t: t` J,. }--`'i4tt�J � ' •41�' thy• .r'.. i . ,i�t.a r ( 41 fo Iok •�1 44+ ,!•�f' "a I✓ �' it + , :�h'!t `�Y+{ ��{t +: lr, ��47 ' f 1��Jy1 ,e li `,,5�1 /t .:.� i :;•' f,(tt -(I t i il��+t�r �1 �. �er ,. �ii �. t 7++ tr r :fit v f �'i •��t '; j1i ,'�:' i�.1.}'t, 'f.'IT YI ,.. "i �� ,..n. :'tr •.. ,•-..•�t..r-.,.s-•.c. ,.7 .�...r� .y. v r'?t r+ — r �.'"7j. •'•rS':!.j".`^r!v+';tj� t-It i t,,?' i4l ..,r ..., .. ,Pay 1 r .. •. •, t. i tt"."--)-�!`••.4 .•i Y.'l.. iat, ,��:var.>r..l. '+etr �rie�fdl- ;a'��1� i^M '.a:, ,Y �„( ', 4 ..,: �,r .. -ie S,�.' �(♦'t%w-.�.ii '. 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J• ,..'�`r �_',.` �1J,,,y :,Y• 1• .� 'C.; �'.!.' ', °.. '. .. ^. fJ( 71:, er f ,, `1'�: i 3 t (• '•.; (Y,r r :,..I�` J. ` tt •1 r .r1 t t ..,,Jb.,r .. 4 5 irr�y' NN�' JI. tlLF 3 tF10 • _. ll r ,• w � � i "1'Y it !bJ !� r, y, �ISS;EDATE;AMIDD/YYICliIFIC4T��IA0 �NSU ANCE 6/12/90 XAXXXARXXX BROKER RB ' ' ' THIS CERTIFICATE 13 ISSUED AS A MATTER OF INr-0RMATiON ONLY AND CONFERS NO niaws UPONVIE CERrF1CATE HOLDER THIS CERTIFICATE ODES NOT AMEND. F ! EXTi-NO OR ALTER THE COVERAOF. AFFORDED BY THE POLICIES BELOW. +! :.1 • . , AFFORDING 0 (:orraon 6 Black 'COMPANIES "'nRD NG COVERAGE � ' •' �` " � + 50 California Street • ' '' r �,' ,' San Frdncf sco CA 94111 COMPA }r 1 T.ilI (+115) R1-0600 - LE(IVR A Firemanla•Fund Insurance r t „ CODE F1.9-CODE �'l• / 'r, 9)SURES IFrTEH Spear Street Advisors, Inc.; C4MR\NY + t'. i Pan31on Realty Advisors, Inc. LETTER r` �V+' i 155 Sansone Street, Saf to GSO CA3MPArr/ San Francisco, CA 94104 LETTER COMPANY ,, tidy`,. f, t, _ _.. ,fit !• tt ,. .r' r '1 ( �f rti, 1 iT11.a IS TO CERTIFY THAT FOIIUES OF WSUWkiCC _.TI O BELOW HAVE BEEN ISSUED TO Tl(E INS' NAMED ALiOVE FOR TIfG POLICY PERIOD R D+CATEQ } NGr,.VITHS1/11JDIfiO 1NY RE.1llNEMENT, TERM OR CONG7iON OF iNY CC+fJTIiAGT OR OTHER DOCUTAEi� V�17T1 FESPECT TO VA101 TIaS CERTIFICATE MAY UE ! X I+}f ,• •(' ,,, WIZO OR W.V PERTHN THE INSURARCE AFFORDED BY T1iE POUCiES UECSiUD HEREIN IS GLFIXCT TO ALL DIE TEFTMS, E=LUSiC'NS, ANO CONDITIONS OF SL04 POLICI£3 DI A SHOWN MAY HAVE BEEN AELIUCED BY FVJD GLXMS !" CO 11Itt1ClIFFTCTNE POLICYEIPIRATION T1PE OF 111SURANCE rOUCY NUMBEi: ALL LIMITS L' .ULQAA►M G t DATE (u.M/W/i Y) ATE (AIM/CO/YY)17 ! GENERAL UA13tLM GE EPAL AGIAE0./.Tts i 1 ODO r' X COMWERCUIL GENERAL Uka'LIIY T$<XAV/0P9 M1GWAM t ! ? tf , fy A 295-HXX-80389210 9/7/09 9/7/90 Exclud += r•+ ty CLAIMnL:ACE XOCCUR tFnlonALaAlhilrnSrrtartAtRY t Excl:ld CIM40'5ACOitTRACTOASPRCF. EACticCCLvrrNCE f r ►}IDEAL EYt'ENSE IA.y I.UTOMOBILE L:A3 UTY u A ANY AUTD C t tt All. (?4YN£O AUTOS 295-HXA-00065023 9/7/89 917/90 V"Y It Sf'rTDULEDAUTOS Ih'Ptrun) r, _ R V, X H91ED AUTOS I F X WN-OWNEDAU S t GARAGE LLIDRRY L tt.1r } EXCESSUABILiTY „ fl6v+EtWi OTHER TitM UMBRELLA FORA1 y. IMTUTOFiY r ' �, ;; A WORKERS' COMPENSATION CA* • 'IEAd1 KCmCMt) Ora ' t ;.' Y rl y AND 295-KC-OCA037: 6/2/90 6/2/91 2 000 �,. EMPLOYERS'L"1 nnY *California Es la ce Only I s 2,000.f0r �`rO '�""n f t' ;• P Y s Y i 2,000 (D1!L4SE•EAW EMPLOYEEI OTHER t t ►Q t pt i. F fir, R } 1., ' DESCRIPTION OF OFtiRAT10NS/LOC+1^ONS/VEHICCES/RESiF,ICTiONS/5.° ECD1L ITEMS PLEASE SEE BELON ICY" $�' y7N�!/ /�• ` jl� i 'j\tS'{�e l(iit f. t `r ` ��,• + �5, t � 'Y . - ,. CEF"ifii1CATE HOLDER CANCELLATION' ` 1 '" iwa i4 / SHOULD ANY OF THE ABOVE DE`'•CRit+ED POUGES BE CANCELLEn BEFORE THE 9T� + ip.EXPIRATION DATE T11ERiEOF, THE ISSUING COMPANY WILL XW:A.f'b+X,4'•UL� ` t t 30 DAY.1 WRITTEN NOTICE TU THE CERTIFICATE 11OLDER N.1h!i'1 t : ,HE "r Robart J. Franz LEFF, �+ +' Iffif ' r \ !Deputy :cy Adainitator s, ' f ultRl�fl��t1P1EX�iX�pillXk�flAIIXXltx�9lht+lf>�7NJ!?c1tlCitXR!!)�°;lt!<'11719c1f�Cti9tJMoc�� ; ,' City. of Huntington Beach _ _ _,_ _M• t t�, � �`;,,',;� �` t' 'i 2000 Main Street t AUTHORIZED REPRESEM.`TIYE Huntington fiehch, C1L 92648 t t ] IrvLitT1� t .jy / '\ st. AL�ORp iS.S p-Ila)t r .. `':'.�.��, ,':�;1 ': •', 1 r. �O r t.. , F,'iLl� L?�r,r=rw , •'f j '�.i,larj �tl;' .- !`++;. � }µfkaS,�jj�f��1�1itiKsir.la O AL O CORPOR/,TI J ` The teem Certll` cats Holder, rdiorever used in this Certificate of +nsura:Tce means: Huntington Beach Redmelo�ment � c +, Agoncy, its officars=and employees. General Liability - The Certificate Hoidor is ail Additional Insured solely as ,7iI 1e raspects Rork peeforried by, the -Named Insured for said Additional Insured provided, hCeever, that a *written contract •dA'rti� ,,.;,•, „, 1• t rswring'that the'Cmlttiffeete'll`Ider bean Additional. Insurad exists. Such iP3UVAnce as is affordad by the Ceueral Liability P :fey is primary insurance and no other insurance of the Additional insured hill be called upon to contribut- to a loAs. i{ -til A', VA /2 tJrl [��'•LA:i( ;f'�,+i� t r`�IY.vY� llr7 "t.:= •1 li` `%{Y l(�ii�i��1 Ir�t'11 `F T � t`r1 yyi�r,T,r t i•_ `, /�I`� n1':i' �^� � L r 1 1) ��, T 1 , ' �� L'T^•�t,�•,'d •ti51°� f c .Y�I`i' .r �.�}.,r. S ( �j'i� "L%syl �wj�� Ir;'�sT'i ! t r ..� �' /�� • 1...i .....�t+w«n�.+.��••.•w�M(T,v4sssr.w:r+•ww•�w.r. ;t....... ��....��,,,�^�. S 7 �_ .r. r,... _ � �.��.1 ly :'-sJ T !+p7 •.'.,.r+'•T� i ��3.� t./7 1}-1 „t��rryl,'��7 �.,.iM..,/. ,,,i.. r,3.,: :c , ! +' i.. F,. ,} ,fy I,I'. ,, Y jf. 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