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CONTRACT 5570B Amendment CLOSEDAgreement No. 55706 SECOND AMENDMENT TO AGREEMENT NO. 5570 BETWEEN THE CITY OF EL SEGUNDO AND ICE, YSER MA.RSTON ASSOCIATES, INC. THIS SECOND AMENDMENT ("Amendment") is made and entered into this 21st day of May, 2020, by and between CITY OF EL SEGUNDO, a California general law city and municipal corporation existing under the laws of California ("CITY") and KEYSER MARSTON ASSOCIATES, INC., a California corporation ("CONSULTANT"). Pursuant to Section 34 of Agreement No. 5570 ("Agreement"), Section I(C) is amended to allow the CITY to pay CONSULTANT an additionat sum, not to exceed Five Thousand Dollars ($5,000). As consideration, CONSULTANT agrees to perform the additional services listed in the attached Exhibit "A". 2. This Amendment may be executed in any number of counterparts, each of which will be. an original, but all of which together constitutes one instrument executed on the same date. 3. Except as modified by this Amendment, all other terms and conditions of the Agreement retrain the sante, [SIGNATURES ON FOLLOWING PAGE] Agreement No. 55706 IN WITNESS WHEREOF, the parties hereto have executed this Amendment the day and year first hereinabove written. CITY OF EL SEGUNDO ENVIRONMENTAL SCIENCE ASSOCIATES INC. a P,6t al law city a California Corporation cost Mitnick, 9afiies Rabe, CRE City Manager �„ ""Vice President, Senior Principal ATTEST: for Tracy eaver, City Clerk APPROVED AS TO FORM: �•,µ for Mark D. Hensley, City Attorney 2 Agreement No. 55706 Exhibit A Scope of Work And Bud et Adjustment Agreement No. 55708 KENSER MwARZ S` "ON ASSIOC' (A ESv ADVISORS IN PLIfilICJPRIVATE REAL. ESTATE DEVELOPMENT LOS ANGELE5 Kathleen H. Head James A. Rabe Dear Mr. Lee: Gregory D. Soo -Boo Kevin E. Engstrom Julie L. Romey Keyser Marston Associates, Inc. (KMA) is pleased to present this proposal to the City of Tim K Bretz EI Segundo (City) to undertake a peer review of the "f=iscal impact and Economic Benefit SAN DIEGO Paul C. Marra Analysis" (Report) prepared by the Kosmont Companies (Kosmont). This analysis was prepared in support of a proposal by Federal Realty investment Trust (Federal) to redevelop the approximately 53,000 square foot Collection development into creative office space. SCOPE OF WORK KMA will review the Report and advise the City as to the key findings of the Report and whether the Report provides sufficient analysis and documentation to support the findings. The Report provides an assessment of: • The state of retail centers in Southern California • The trajectory of retail sales at this location • The level of retail sales that will occur at the center if the owner is allowed to decrease the amount of retail sales generating space. • Additional City revenues that would occur from the redevelopment of retail space into creative office space 500 SOUTH GRAND AVENUE, SUITE 1480 - LOS ANGELES, CALIFORNIA 90071 '- PHONE 213,622,8095 WWW ,KEYSERMARSTON.COM 2005004.KMAlAR 99900.002.001 May 11, 2020 ADVISORS IN. Real Estate Affordable Housing Economic Development Sam Lee ©ERRELEY Director of Planning & Building Safety A. Jerry Keyser Timothy C. Kelly City of EI Segundo Debbie M. Kern David Doezema Street Address Kevin Feeney EI Segundo, California 90245-3895 LOS ANGELE5 Kathleen H. Head James A. Rabe Dear Mr. Lee: Gregory D. Soo -Boo Kevin E. Engstrom Julie L. Romey Keyser Marston Associates, Inc. (KMA) is pleased to present this proposal to the City of Tim K Bretz EI Segundo (City) to undertake a peer review of the "f=iscal impact and Economic Benefit SAN DIEGO Paul C. Marra Analysis" (Report) prepared by the Kosmont Companies (Kosmont). This analysis was prepared in support of a proposal by Federal Realty investment Trust (Federal) to redevelop the approximately 53,000 square foot Collection development into creative office space. SCOPE OF WORK KMA will review the Report and advise the City as to the key findings of the Report and whether the Report provides sufficient analysis and documentation to support the findings. The Report provides an assessment of: • The state of retail centers in Southern California • The trajectory of retail sales at this location • The level of retail sales that will occur at the center if the owner is allowed to decrease the amount of retail sales generating space. • Additional City revenues that would occur from the redevelopment of retail space into creative office space 500 SOUTH GRAND AVENUE, SUITE 1480 - LOS ANGELES, CALIFORNIA 90071 '- PHONE 213,622,8095 WWW ,KEYSERMARSTON.COM 2005004.KMAlAR 99900.002.001 Agreement No. 55706 Sam Lee, Director of Planning & Building Safety May 11, 2020 City of EI Segundo Page 2 The City has also requested that KMA evaluate Federal's request to reduce its obligation to have 801 of the space be occupied by retail sales tax generating uses to either 70% or 60%. KMA will review its files with respect to retail sales by tenant type, employment factors for creative office and development costs for creative office space. As this is a peer review, KMA will not be undertaking any original research. KMA will prepare a memorandum report of its findings. DATA REQUIREMENTS Given the nature of the Report, KMA requires certain information from the City and from Federal. KMA requires additional information on total sales at the project as well as the taxable sales at the project. KMA also needs information on the current assessed value of Parcels A and C. • The City should request from HdL the total sales and total taxable sales for Parcels A, B and C, aggregated by parcel. This aggregation should avoid any confidentiality issues, The City should request that the property owner provide current assessed value information and tax statements for Parcels A and C. SCHEDULE AND BUDGET KMA expects to provide a draft memorandum within three weeks of receiving both the data requested above and authorization to proceed. As this is a limited peer review will, KMA undertake this assignment for a not to exceed fee of $3,000. This budget does not include any meetings or presentations. Attendance at meetings or preparation for presentations will be an additional charge and will be billed based on the following schedule of fees. 2005004,KMA•JAR 99900.002.001 Sam Lee, Director of Planning & Building Safety City of EI Segundo Keyser Marston Associates, Inc. Hourly Rates Chairman, President, Managing Principals Senior Principals Principals Managers Senior Associates Associates Senior Analysts Analysts Technical Staff Administrative Staff Agreement No. 55706 May 11, 2020 Page 3 $280.00 $270,00 $250,00 $225.00 $187.50 $167.50 $150.00 $130,00 $95.00 $80,00 Reimbursable expenses are in addition to the above amounts. The City will be billed monthly during the analysis. We hope the above meets your needs and are available to discuss the above at your convenience, Sincerely, Keyser Marston Associates, Inc. James Rabe, CRE Senior Principal 2005004AMA,IAR 99900,002,001