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<br />.-.-..',' <br /> <br />THE CONCORD GROUP <br /> <br />--, ""---1 '. <br /><"'-";/ <br /> <br />.. .. <br /> <br />EXHIBIT A <br /> <br />January 12,2005 <br /> <br />Mr. Michael Freedman <br />Principal <br />FREEDMAN TUNG & BOTTOMLEY <br />74 New Montgomery Street, Third Floor <br />San Francisco, CA 94108 <br /> <br />03106.01 <br /> <br />RE: <br /> <br />RESIDENTIAL MARKET ANALYSIS SUPPORTING THE RESIDENTIAL <br />COMPONENT OF THE DOWNTOWN REDWOOD CITY PRECISE <br />PLAN; REDWOOD CITY, CALIFORNIA <br /> <br />Dear Mr. Freedman: <br /> <br />Pursuant to our communication with Sarah Dennis, we are pleased to present this <br />proposal-agreement for professional services relative to the above subject. We consider <br />the following scope of work and the resulting time and fee schedules appropriate for the <br />completion of this engagement. <br /> <br />BACKGROUND AND OBJECTIVE <br /> <br />Freedman Tung & Bottomley ("FTB") is currently developing a Downtown Precise Plan <br />for the City of Redwood City, California ("City"). In support of those responsibilities, <br />The Concord Group has been involved throughout the fall of 2004 completing a retail <br />demand and supply analysis for the study area. <br /> <br />The City engaged a consultant to complete a housing market analysis, concurrent with <br />The Concord Group's retail analysis. However, the results of the study did not contain <br />actionable information to support the successful completion of the Precise Plan, namely <br />the recommendation of a market-supported residential product program and residual land <br />valuations for selected catalyst sites considered by FTB. <br /> <br />As such, based on our continuing relationship, FTB has asked The Concord Group to <br />review the previously completed residential study and identify the additional analyses <br />needed for the planning effort. To complete the scope of work necessary, we will use the <br />data gathered in the previously completed study, as building blocks of our analysis, and <br />thus achieve cost savings to the City. <br /> <br />Importantly, we will identify the product type most applicable to the Downtown catalyst <br />sites and establish a recommended market bas rice 0" . and estimated <br />abso tio . -. IS infonnation will be used as revenue side iñputs to a financial <br />model which will detennine the fmancial feasibility of the proposed catalyst projects. <br />The result will conclude which catalyst project would require considerable City subsidy, <br />and which would be self sufficient. <br /> <br />,. ,. .,..-.".."."..,-...,..,....., ,,-..--....,.,-...-...-. ...- <br />