RDA Min 1995-06-26 - Laserfiche WebLink

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. I 'I 3. GENERAL - A. Contract Amount for Economic Consulting Services - Keyser Marston (401) REPORT: Executive Director, Redevelopment Agency, June 26,1995 Executive Director Church presented the staff report and in response to questions ftom Director Sanfilipo, described the reasons for asking the Board to increase the not-to-exceed funding cap in the Keyser Marston agreement by $25,000: "If tax increment funds are involved in a DDA, the City Council must (by law) commission an independent economic analysis of the proposed DDA to determine whether such subsidies are warranted. Keyser Marston provided such services for Sequoia Station, Wyndham Place, Trestine" and the two "added mid-year" projects the Rolison Road acquisitions and development and the Auto Mall concept. Director Church advised that the original $25,000 was now depleted and there were two billings yet to be paid. Also, the Board had directed the Agency to go forward with a sense of urgency with the Main/Middlefield Project which will produce further billings under the Professional Services category. By authorizing the increased cap, the Agency will be able to receive the consulting services needed now, continue to be proactive as the Board directed, and pay its bills in a timely manner. Director Sanfilipo expressed concerns regarding Board approval of an item in the 1995/96 fiscal year Redevelopment Budget before the actual budget review process; and concerns regarding borrowing nom the future to pay for bills incurred in the 1994/95 fiscal - year. In response to Board questions, Redevelopment Agency Counsel Hildebrand explained that the request included a not-to-exceed cap and the whole amount is not needed now to pay the pending bills, nor would approval obligate the Agency to pay the whole sum. In response to Board questions, Director Church described how future budgets are predicated upon known projects and conditions, and economic projections, and how projects added mid-year can cause deficits in budgets. Councilman Sanfilipo suggested Board approval of a smaller amount to be paid nom the reserves in the 1994/95 budget. MIS: Steinfeld! defer approval of the requested additional $25,000 not to exceed cap until the budget process; and approve $5,000 from 1994/95 budget reserves to professional services. Motion died due to the lack of a second. Board Directors discussed various options, actual billings pending, the need for on-going - services, and the need for realistic numbers with consideration of possible margins of error included in future contracts. Regular Redevelopment Agency Minutes MINUTE BOOK NO.1 June 26, 1995 Page No. 269 Page 2