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REV: 12-22-23 MI <br />additional costs. Attendance at City and/or Successor Agency meetings will be <br />billed at Consultant’s hourly rates. <br />Fees for Optional Services shall be billed at the following hourly rates: <br />Partner $250 per hour <br />Principal $225 per hour <br />Programmer $200 per hour <br />Associate $175 per hour <br />Senior Analyst $125 per hour <br />Analyst $ 90 per hour <br />Administrative $ 70 per hour <br />Hourly rates are exclusive of expenses and are subject to adjustment by the <br />Consultant annually. On July 1st of each year, Consultant shall provide the City <br />with an updated schedule of hourly rates. The rates will not be increased by <br />more than five percent (5%) per year. <br />B. Identification and Correction of Errors <br />Fees for the identification and correction of errors are on a contingent basis, <br />Consultant shall receive 25 percent of general fund or tax increment property <br />tax revenue or other revenues attributable to the City recovered or reallocated <br />which are directly or indirectly the result of an audit, analysis or consultation <br />performed by Consultant (including but not limited to base year value audits; <br />administration of tax sharing agreements; tax increment allocation reviews; <br />county allocation reviews). Consultant shall separate and support said <br />reallocation and provide the City with an itemized invoice showing all amounts <br />due as a result of revenue recovery or reallocation. The City shall pay audit <br />fees after Contractor's submittal of evidence that corrections have been made <br />by the appropriate agency. Payment to the Consultant shall be made within <br />thirty (30) days after the City receives its first remittance advice during the fiscal <br />year for which the correction applies. <br />ATTY/AGR.2023/Amend. No.1/HdL Coren & Cone (Property Tax Consultant) (Page 7 of 7)