1997 JAN 22 CC PACKET - JOINTA G E N D A
EL SEGUNDO CITY COUNCIL
PARK VISTA - 615 Holly Street
..e..ro;., etot„tnry Pxcentions. can only take action upon properly posted and listed agenda items.
The Public can participate in the discussion of any item listed on the Agenda. To facilitate your presentation, please place a check
tart of
mark,( be each item you would like to address on the Agenda provided by the City Clerk, preferably PRIOR to the s
the meeting. Any other item not listed on the Agenda that is within the jurisdiction of the City Council may be directly addressed
during Public Communications.
Before speaking to the City Council, please come to the podium and give: Your name and address and the organization you
represent, if desired. Please respect the time limits.
Members of the Public may place items on the Agenda by submitting a Written Request to the City Clerk or City Manager's
Office at least six days prior to the City Council Meeting (by 2 :00 p.m. the prior Tuesday). The request must include a brief
general description of the business to be transacted or discussed at the meeting.
Mn comp ce with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, Please contact CtY Clerk, 607-2208.
Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting.
ADJOURNED REGULAR MEETING OF THE EL SEGUNDO CITY COUNCIL
MEETING JOINTLY WITH THE EL SEGUNDO SENIOR CITIZEN HOUSING CORPORATION
EL SEGUNDO SENIOR HOUSING BOARD AT ITS REGULAR MEETING
LOCATION - Park Vista - 615 Holly Street
DAT,= AND TIME - January 22, 1997 - 7:00 P.M.
CALL TO ORDER
PLEDGE OF ALLEGIANCE
ROLL CALL
PUBLIC COMMUNICATIONS - (Related to City Business Only - 5 minute limit per person, 30 minute limit
total.) Individuals who have received value of $50 or more to communicate to the City Council on behalf of another, and employees
speaking on behalf' of their employer, must co identify themselves prior to addressing the City Council. Failure to do so shall be a
misdemeanor and punishable by a fine of $250.
A. SPECIAL ORDERS OF BUSINESS
Discussion with Senior Housing Board:
1. Adding the Park Vista building to City building insurance coverage or alternatives
such as using the same carrier;
2. Co- Investment of monies with City investments;
3. Clarification of the repayment agreements.
4. Other items of concern related to City /Corporation agreements.
Staff to report findings and suggestions on Items 1 and 2 and basis for Item 3.
Recommendation: Discussion and Possible Action.
ADJOURNMENT OF CITY COUNCIL
B. MINUTES OF THE MEETING OF NOVEMBER 20, 1996.
Recommendation: Approval
C. NEW BUSINESS
1. Presentation of Financial Statements for November and December, 1996.
Recommendation: Approval
2. Financial Status Update - Information
Recommendation: Receive and File
3. HMA Management Agreement Addendum.
Recommendation: Approve and execute the proposed addendum to the management
agreement.
4. Request to add procedures for parking in garage to Board Handbook.
Recommendation: Confirmation of proposed procedures for parking in garage and
Issuance of card keys.
D. UNFINISHED BUSINESS NONE
E. NEW BUSINESS - PARK VISTA MANAGEMENT NONE
F. NEW BUSINESS - CITY STAFF NONE
G. NEW BUSINESS AND REPORTS - BOARD MEMBERS
1. Dollie Thomas - Report on evaluation feedback.
Recommendation: Discussion and possible action.
PUBLIC COMMUNICATIONS - (Park Vista Business Only -5 Minute Limit)
ADJOURNMENT
POSTED
POSTED
POSTED c1
2
AGENDA
REGULAR MEETING OF THE EL SEGUNDO SENIOR CITIZEN HOUSING CORPORATION
EL SEGUNDO SENIOR HOUSING BOARD MEETING JOINTLY WITH
THE EL SEGUNDO CITY COUNCIL AT ITS ADJOURNED REGULAR MEETING
PARK VISTA
615 E. HOLLY STREET, EL SEGUNDO, CALIFORNIA
JANUARY 22, 1997 - 7:00 P.M.
NOTICE: The III Segundo Senior Citizen Housing Corporation El Segundo Senior Housing Board can only take action upon Agenda Items that
have been properly posted.
The Pubilo can participate In the discussion of any hem of special Order or New SunMtess on the Agenda.
Any other hem of interest to the Public that Is within the Jurisdiction of the El Segundo Senior Citizens Housing Corporation III Segundo
'Senior Housing Board can M directly addressed WOREE Vam 0 To THE SCARD, PLEASE CIVIL
youa HAMI ana ADDRESS IOR OROANU[ATION YOU REPREMTb.
PLaAa RIePaOT THE THRII WHUTI That LNAT.
Members of the Public may Place Items on the Agenda by submitting a written Requests to the President, El Segundo Senior Citizens Housing
Board, City of El Segundo, $60 Main Street at Mast nine days prior the Board Meeting. The request must Include a brief general description of
the business to be transacted or discussed at the meeting.
CALL TO ORDER
ROLL CALL
PUBLIC COMMUNICATIONS - (Park Vista Business Only - 5 Minute limit)
A. SPECIAL ORDERS OF BUSINESS
1, Discussion with Senior Housing Board:
1. Adding the Park Vista building to City building insurance coverage or alternatives
such as using the same carrier;
2. Co- Investment of monies with City investments;
3. Clarification of the repayment agreements.
4. Other items of concern related to City /Corporation agreements.
Staff to resort findings and suggestions on Items 1 and 2 and basis for Item 3.
Recommendation: Discussion and Possible Action.
ADJOURNMENT OF CITY COUNCIL
B. MINUTES OF THE MEETING OF NOVEMBER 20, 1996.
Recommendation: Approval
C. NEW BUSINESS
1. Presentation of Financial Statements for November and December, 1996.
Recommendation: Approval
2, Financial Status Update - Information
Recommendation: Receive and File
3. HMA Management Agreement Addendum.
Recommendation: Approve and execute the proposed addendum to the management
agreement
4. Request to add procedures for parking in garage to Board Handbook.
Recommiendation: Confirmation of proposed procedures for parking in garage and
issuance of card keys.
D. UNFINISHED BUSINESS NONE
E. NEW BUSINESS - PARK VISTA MANAGEMENT NONE
F. NEW BUSINESS - CITY STAFF
G. NEW BUSINESS AND REPORTS - BOARD MEMBERS
1. Dollie Thomas - Report on evaluation feedback.
Recommendation: Discussion and possible action.
PUBLIC COMMUNICATIONS - (Park V' Business Only -5 Minute Limit)
ADJOURNMENT
POSTED: Ile./ m
POSTED: �/ ° / ✓�/J/%% _
POSTED? dId i1 dr�irr� y�
INTEROFFICE CORRESPONDENCE
CITY OF EL SEGUNDO
TO: Jim Morrison, City Manager
FROM: Eunice Kramer, Director of Finance�K/
SUBJECT: Request by Park Vista to Coordinate Insurance Coverage with
City Policies
DATE: January 14, 1997
CC: Tim Fauk, Director of Recreation and Parks t/
Donna Kreter, Assistant Finance Director
This is to advise you concerning the status of the Park Vista Senior Housing Board request to add
the building to the City Building Insurance Coverage.
The City's policy for property insurance expires on May 15, 1997, and the insurance carrier has
requested an update on our property listings, including any requested additions. We have
requested a quotation for coverage with the addition of the Park Vista Building, and when the
insurance broker solicits quotations, we will be advised.
The city's policy has a $10,000 deductible and no earthquake insurance. The broker has been
unsuccessful in obtaining affordable earthquake insurance quotations in the past, but will continue
to solicit such coverage. We are also soliciting a separate quotation under the Independent Cities
Risk Management Association's pooled property insurance coverage. A limited earthquake
coverage pool is available through this program, and we will compare the cost of the ICRMA
coverage with the renewal or new policy recommended by our current broker in late April.
As soon as staff has sufficient information on the city's insurance costs and coverage alternatives,
we will also advise the Senior Housing Board via Jim Fauk.
City of El Segundo
Interdepartmental Memorandum
January 14, 1997
To: Judy Andoe, Recreation Superintendent
From: Susan Chun Schofield, City Treasurer
Re: Senior Housing Board Meeting, January 22, 1997
------------------------------------------------------------------ - - - - --
In response to your memo of December 30, 1996, please allow me to offer the following.
According to staff in the State Treasurer's office, the assets of the Sr. Housing Board and its
corporation, having been deemed to be the City's, cannot be invested under a separate account in
the State -run investment pool known as the Local Agency Investment Fund (LAIF). What we
can offer to the Sr. Housing Board is the option of pooling a portion of its reserve funds with the
City's idle funds, potentially improving the earning potential of those funds.
The mechanics of establishing an additional fund, assigning fund and account numbers, tracking
the balances, and reporting current balances and interest earned would be determined by the
Finance Department.
If you have any questions or would like to discuss this matter further, please call me.
cc: Eunice Kramer, Finance Director
City of El Segundo
Inter - Departmental Correspondence
January 14, 1997
To: James Morrison, City Manager
Via: Eunice Kramer, Director of Finance
From: Donna Kreter, Assistant Finance Director Yom_
Subject: Repayment of Loans Between the City and the El Segundo Senior Citizen Housing
Corporation
Introduction and Background
In May of 1986, the City and the Corporation entered into an agreement setting forth the conditions under
which the Corporation would operate the housing project. Prior to that date, the City had loaned the
Corporation $1,780,000 from the General Emergency Contingency Reserve Fund for the acquisition of land
and funding of construction for the senior housing complex. This loan accrues interest at eight percent (8 %)
and is to be paid off over twenty (20) years. For discussion purposes we will refer to this as the "first loan".
The voters of El Segundo also approved an additional loan of $2,345,538 plus accrued interest of $882,544
out of the Voter's Trust Account. For discussion purposes we will refer to this as the "second loan". There
currently is no Council approved repayment schedule for this second loan, the repayment agreement merely
states that, " The parties agree to meet at the call of the Mayor to work out a timely manner the terms and
conditions of such payment." The repayment agreement also states that payments on the second loan shall
begin when the first loan is entirely paid off, but no later than June 5, 2007. The first loan is not scheduled to
be paid off until May 5, 2008. Therefore there will be twelve (12) months when the two loans will overlap,
and the Corporation will incur double debt service payments.
Discussion
The following scenarios are options for repayment of the second loan to the City of El Segundo:
Scenario A: The Corporation makes monthly payments on the first loan of $14,889.00. If we were to
assume the same monthly payment amount for the second loan, it would take just slightly over eighteen years
to repay the total loan. Keep in mind that there will be twelve months where the Corporation will be making
two $14,889.00 payments. This will deplete their reserves by $178,668. At June 30, 1996, the Corporation
has a working capital of approximately $369,000. This is sufficient to cover the twelve month of double
payments, provided that all future budgets remains balanced, and no more than $190,000of additional
improvements or deferred maintenance is funded from this accumulated working capital.
Scenario B: Since the second loan has incorporated into it accrued interest only through July 30, 1987, and
stipulates that payments shall not be subject to additional periodic interest, the City may wish to develop a
more accelerated payment schedule. The second loan is essentially interest free for 38 years. As a point of
reference, the portion of forfeited interest from 1987 to the beginning of the payments in 2007, calculated
assuming 4.5% interest, is $2,110,984. If the City increased the payments in Scenario A by 10 %, the second
loan would be paid off in 16.5 years. The monthly payment on the second loan would be $16,378. During
the twelve month overlap this would deplete the working capital by $196,536, and would allow for additional
improvements or deferred revenue of slightly more than $172,000. The balanced budget would need to be
maintained through either efficiencies or increased revenues.
Increasing the payments in Scenario A by 15% would pay the second loan off in approximately 15.75 years,
and deplete the working capital by $205,000 during the twelve month overlap of the two loans.
Attachment: Repayment Agreement
CONTRACT.
1937 -
CIn' nr <! SEGIINDO
REPAYMENT AGREEMENT
THIS AGREEMENT is entered into this 5th day of January,
1988 by and between the CITY OF EL SEGUNDO, CALIFORNIA, a
Municipal Corporation (hereinafter "CITY ") and the EL SEGUNDO
SENIOR CITIZEN HOUSING CORPORATION, a California Nonprofit Public
Benefit Corporation (hereinafter "CORPORATION ").
WITNESSETH:
A. City is the owner of real property located at 615
East Holly Avenue in the City of E1 Segundo, California, which
property is developed as a 97 -unit senior and handicapped housing
project (the "Project "); and
B. City and Corporation have entered into an
Operating Agreement dated May 6, 1986 (the "Operating Agreement ")
setting forth terms and conditions under which Corporation will
operate the housing project; and
C. City has loaned to the project for purposes of
acquiring land and funding construction the sum of $1,780,000
from the General Emergency Contingency Reserve Fund; and
D. In addition to the $1,780,000 loan, voters of the
City on November 8, 1983 approved Ordinance No. 1056 authorizing
expenditure of $2,345,538, plus interest accrued thereon, from
the Voters' Trust Account for the Senior Housing Project; and
E. The parties desire to memorialize their
understanding concerning the obligation of the Project to
replenish the City's funds from the Project's revenues and
that the satisfaction of that obligation be established by
contemporaneous records; and
F. Corporation acknowledges the obligation of the
Project revenues to replenish the City's funds as above set
forth; and
G. Corporation agrees that during the term of the
Operating Agreement to make the payments hereinafter set forth.
CONTRACT,
1937
ci l . -1 SFG11ND0
NOW, THEREFORE, for and in consideration of the above
premises, City and Corporation agree that the funds advanced for
construction of the Senior Housing Project shall be repaid under
the following terms and conditions:
1. Repayment of $1,780,000 Loan. Corporation agrees
to repay the loan sum of $1,780,000 from the General Emergency
Contingency Reserve Fund from revenues of the Project over a
period of twenty (20) years at the rate of eight percent (8%) `
interest per annum from April 5, 1988. Payments shall be made in
equal monthly installments of $14,889.00 or more and shall be due
on the fifth day of each month beginning May 5, 1988. Advance
payments of principal may be made without penalty. Each payment
shall first be credited to accrued interest and the balance shall
be applied to principal. The entire balance of principal and
accrued interest, if any, shall be due on May 5, 2008.
2. Late Payment. If Corporation fails to perform any
of the payment provisions of this agreement, City may give
Corporation ten (10) days written notice to cure the failure to
perform. In the event Corporation does not cure said failure
within said ten (10) days, Corporation shall be in default of its
obligation under this agreement. In the event of default, the
City Council, after a noticed hearing, may declare this
agreement, as well as the May 6, 1986 Operating Agreement, null
and void and thereafter assume operation of the Project, or enter
into a contract or contracts with third parties to operate the
Project.
3. In addition to repaying the foregoing advance,
Corporation agrees to pay to the City for deposit in the General
Fund or such other fund as the City may determine a sum equal to
the $2,345,538 expended from the Voters' Trust Account for
construction of the Project together with interest accrued
through July 30, 1987 in the amount of $882,544. Such payment
shall not be subject to additional periodic interest payments.
Repayment shall begin when all principal and interest payments on
the $1,780,000 loan from the General Emergency Contingency
2
1937 -
CIT" n - $r IMOO
Reserve Fund have been made, but not later than June 5, 2007.
The parties agree to meet at the call of the Mayor of the City to
work out in a timely manner the terms and conditions of such
payment.
4. Payments Made To. All payments due hereunder
shall be made to the City Treasurer, City of E1 Segundo, 350 Main
Street, E1 Segundo, California 90245, and shall be credited to
the City General Fund.
5. Notices. All notices, reports, and statements
which either party desires or is required to give to the other
under this Agreement shall be in writing and shall be delivered
by registered or certified mail, postage prepaid, return receipt
requested, or shall be delivered by personal delivery, addressed
as shown below. Notices shall be deemed effectively communicated
as of the date of the receipt. Either party may change its
address for purposes of notices under this Agreement by means of
written notice given in accordance with the provisions of this
section.
As to City: City of E1 Segundo
350 Main Street
El Segundo, California 90245
Attention: City Manager
As to Corporation: E1 Segundo Senior Citizen
Housing Corporation
350 Main Street
E1 Segundo, California 90245
Attention: Chairman
6. Governing Law. Validity of this Agreement and any
of its terms and conditions shall be interpreted and construed
pursuant to the laws of the State of California.
7. Severability. If any provision of this Agreement
is held by a court of competent jurisdiction to be void or
unenforceable, the remaining provisions shall nevertheless
continue in full force and effect.
3
CONTRACT,
1937 -
cil. SFG'INDO
IN WITNESS WHEREOF, the parties hereto have set their
hands and seals the day and year first above written.
CITY OF EL SEGUNDO
By
ATTEST:
City Clerk
(SEAL)
EL SEGUNDO SENIOR CITIZEN
HOUSING- O PORA ON
By
resident
ATTEST:
Secret dry
APPROVED AS TO FORM:
By
City Attorrxhy
4
EL SEGUNDO SENIOR HOUSING BOARD
AGENDA ITEM STATEMENT FOR BOARD MEETING OF JANUARY 22, 1997
AGENDA HEADING:
DESIGNATION OF FUNDS FOR RESERVES.
AGENDA DESCRIPTION:
DESIGNATE A SPECIFIC AMOUNT OF FUND BALANCE WHICH NEEDS TO BE MAINTAINED IN
THE PARK VISTA RESERVE ACCOUNT.
RECOMMENDED BOARD ACTION:
DESIGNATE APPROPRIATE FUND BALANCE. DISCUSSION AND POSSIBLE ACTION
BRIEF SUMMARY:
IT IS REQUESTED BY THE SENIOR HOUSING BOARD THAT THE CITY COUNCIL REVIEW THE
CURRENT BALANCE IN THE PARK VISTA RESERVE ACCOUNT AND DESIGNATE A FUND
BALANCE WHICH NEEDS TO BE SUSTAINED.
ATTACHED SUPPORTING DOCUMENTS:
FISCAL IMPACT: YES NO X
Amount Requested:
Account Balance: Date: FY96/97 Budget
Account Number 1302
Appropriation Required: Yes No
ORIGINATED: Date: JANUARY 22, 1997
Peter Freeman
Chairman of Senior Housing Board
ACTION TAKEN:
EL SEGUNDO SENIOR HOUSING BOARD
AGENDA ITEM STATEMENT FOR BOARD MEETING OF JANUARY 22, 1997
AGENDA HEADING:
BUDGET DETAIL REQUIRED
AGENDA DESCRIPTION:
REQUEST FOR SPECIFIC BUDGET DETAIL OR BUDGET FORMAT BE DESIGNED.
RECOMMENDED BOARD ACTION:
DESIGN APPROPRIATE FORMAT. DISCUSSION AND POSSIBLE ACTION
BRIEF SUMMARY:
IT IS REQUESTED BY THE SENIOR HOUSING BOARD THAT A PREFERRED BUDGET FORMAT
BE DEVELOPED WHICH IS ACCEPTABLE TO CITY COUNCIL FOR UTILIZATION BY THE SENIOR
HOUSING MANAGEMENT COMPANY.
ATTACHED SUPPORTING DOCUMENTS:
NONE
FISCAL IMPACT: YES NO X
Amount Requested:
Account Balance: Date: FY96197 Budget
Account Number 1302
Appropriation Required: Yes No
ORIGINATED: Date: JANUARY 22, 1997
Peter Freeman
Chairman of Senior Housing Board
ACTION TAKEN:
EL SEGUNDO SENIOR HOUSING BOARD DRAFT
MINUTES
NOVEMBER 20, 1996
CALL TO ORDER:
Meeting called to order at 7:10 p.m., Pete Freeman,
president, presiding.
ROLL CALL:
Directors Present: Louise McCann, Keith Covington,
Edna Freeman, Pete Freeman,
Steve Edlefsen (arr. 7:27 p.m.)
Dollie Thomas.
Absent: Annette Latshaw
Others Present: Al Mosk, General Manager, HMA
Mrs. Dannemiller, Manager, Park Vista
Judy Andoe, Recreation & Parks Dept.
PUBLIC COMMUNICATIONS:
None
MINUTES:
Minutes of October 23, 1996 reviewed for approval.
Keith referred to Page 4, fourth paragraph from bottom of
page, referring to moving of bank account. Suggested moving
funds from Wells Fargo Bank rather than Western Federal.
Same page, paragraph following Keith's motion - last
sentence should read; "Keith Covington asked for
confirmation from City Treasurer regarding FDIC insurance on
deposits over $100,000.00.
MOTION that minutes be accepted as corrected made by Dollie
Thomas. Seconded by Louise McCann and carried.
NEW BUSINESS:
PRESENTATION OF FINANCIAL STATEMENTS AS OF NOVEMBER 23,
1996.
Al reviewed report for clarification of some items.
$3,160.00 over budget. Year- to -uate, over budget
$15,318.00. Changes in manner of reporting some items
explained, some of which were responsible for over budget
figure.
TIME DEPOSITS: Keith has contacted Wells Fargo regarding
means of obtaining more interest on accounts.
He also indicated that balance sheet does not show the
amounts owing on two mortgages of Park Vista and amount
of money in account for Security Deposits made by tenants
not shown.
Edna questioned Miscellaneous Assets on balance sheet in the
amount of $400.00. Al explained this could have been caused
by several things and that he would look into it and report
back to board. Keith suggested contacting accountant, Neal
Love to determine what this figure represents.
RESERVE STUDY: Revisions have been made. Errors in Barrera
Study have been brought to their attention. They indicated
that any changes should have been brought to them within 30
(thirty) days of presentation of Study, otherwise, there is
a $300.00 fee. Barrera stated, however, that since there
was some misunderstanding in that regard, they would reduce
the fee to $200.00. Types of changes discussed. Barerra
had requested several items be clarified. Al will contact
them in this regard.
BUDGET: Al reported that copy of proposed budget, bound in
book Form, was presented to City Council by Pete Freeman and
Keith Covington on November 19th. Council requested more
time to review same before approving. Meeting to be held
on December 11th with Pete, Keith, Mayor Jacobs and Council
Woman, Jane Friedkin in attendance for discussion. Budget
should be approved at December 17th Council meeting.
Judy stated that board may wish to be placed on City Council
agenda regarding their budget concerns.
140TION by Keith Covington that Financial Statements be
accepted. Seconded by Steve Edlefsen and carried.
VACANCIES - None
WAITING LIST - Edna Freeman
PERSONNEL - Routine
AMENDMENT TO MANAGEMENT AGREEMENT:
Article 13.2 regarding insurance. Al stated he had received
information from the insurer and said article will be
revised. He suggested that a new Management Agreement be
drawn up changing reporting date from February 1st to
January 1st. It was determined that the date had previously
been changed to January 1st.
- 2 -
EVALUATION FORM:
Council has requested board to come up with an evaluation
form. Judy presented a sample form which she had compiled.
Discussion. It was brought out that residents, for the most
part, seem to be satisfied with Park Vista facility and
Mrs. Dannemiller. Pete stated he would like to have some
in -put from the Jet Setters. Dollie felt questions as
presented on proposed form would be adequate. Pete and
Dollie are frequently at Park Vista so residents know them.
It was suggested that City Council members go to Park Vista
to see for themselves how things are going and to make them-
selves known to the residents. Discussion regarding
complaints and how they are often presented to City Council
directly rather than going through the board. Council
should be made to understand that such items should be
presented to the board for review and action. Board members
felt evaluation form presented by Judy would suffice. Keith
suggested placing lines on form for signature and phone
number in case resident wished to sign the form. Discussion
regarding getting residents to fill out evaluation form and
approach board members with complaints. Further discussion.
Judy suggested sending out holiday note to residents
regarding whom to contact if they had any suggestions or
complaints.
Al - re item ##2 regarding management company. Suggested
change in wording. Also, people not reporting items that
they felt needed correcting was brought up. Pete reviewed
some items that had come up during annual inspection, con-
ducted by himself and Mrs. Dannemiller. These inspections
have been conducted on an annual basis for the past six
years.
Al also had some remarks regarding placing signatures on
evaluation forms. Steve clarified some items on the form.
It was suggested that item ##5 have the following wording
added; "Maintenance concerns" to question regarding response
time.
MOTION by Keith Covington that form be accepted for use
with alterations as recommended, which include adding of
lines for signature and phone number and additional wording
to item ##5 as set out above. Seconded by Dollie Thomas
and carried.
UNFINISHED BUSINESS:
CONTROL JOINTS:
To eliminate cracks on exterior of building. Job has been
Put out for bids. Seven or eight people were contacted who
3 -
had shown an interest in bidding. Four of these contractors
met with Pete, Al, Mark Osborne and Judy on November 6th.
It was explained to them what was required under City
Building Code. Sealed bids to be presented by November
15th. Only two bids were turned in by deadline date. Bids
were opened by Pete in presence of Al, Judy and Mark Osborne
on November 16h at 10:21 a.m.
Keith suggested obtaining more information before re- bidding
job and determining what is causing discrepancy in bids
received. Union or non -union bids? Discussion. Al made
the suggestion that break -down of bids be included. Judy
suggested getting bids from people who were present at bid
meeting. Estimates should include break -down of costs.
Discussion. Bids presented are usually good for 30 (thirty)
days. Al to request additional information from two con-
tractors who submitted bids. Further discussion. Al to
submit information to Steve to review with Jim Watson.
Al asked if he was authorized to discuss other bids with
bidders and it was decided this information should not be
shared. It was decided to wait until more bids are received
in addition to more complete information as discussed above.
MOTION by Keith Covington that break -down of costs be
provided without revealing what had been bid by any other
contractor and what had been included in bids. Information
to be relayed to Steve Edlefsen for discussion with
contractor, Jim Watson. Seconded by Dollie Thomas and
carried.
Steve is to provide a memo to Al regarding Watson's
recommendations. Board to decide what they wish to do and
present their findings to the City Council. Al had further
comments regarding installation of "scuppers" on balconies.
MOTION Keith Covington previously made, amended by him to
include "addition of scuppers ". Seconded by Dollie Thomas
and carried.
Steve had a question regarding "screed" installation. Al to
check with bidders regarding installing scuppers at same
time control joints are put in place. These problems were
caused by faulty construction when building erected.
EARTHQUAKE INSURANCE:
Keith reported that the City does not carry this insurance
on their buildings, however, he felt that, since this was an
occupied building with living quarters, there should be
earthquake insurance unless the City wishes to underwrite
FEMA loan balances in case of a disaster. Discussion. Judy
suggested this be included in insurance discussion with City
regarding including Park Vista under City insurance
- 4 -
coverage.
MOTION by Keith Covington that earthquake insurance coverage
be kept until advised by City to do otherwise. Seconded by
Dollie Thomas and carried.
HANDBOOK:
After a two year investigation by City, Judy stated Handbook
copies would be forthcoming as soon as completed.
ANNOUNCEMENTS:
PARK VISTA MANAGEMENT - At suggestion of Al Mosk,
Mrs. Dannemiller was excused at this point.
Al indicated he had an item to discuss but it was determined
that, since this was a personnel matter, it should be
discussed in closed session. Pete suggested a special meet-
ing be held for this purpose after Thanksgiving and also
pointed out that the Attorney must be present at any
closed session. Discussion. December 11th set as meeting
date for this action, 7:00 p.m. at Joslyn Center. Judy to
advise Derek Straatsma regarding this meeting.
CITY STAFF — None
SENIOR HOUSING BOARD - Pete reported he had presented up-
dated manua o i y I Council meeting on November 5th. Judy
Andoe and Derek Straatsma were also present at this meeting.
Council approved manual with following amendments to be
included:
1. Resident questionnaire on Management Company
and Board performance and suggestions handled
by board once annually.
2. Posting of Resident Waiting List in two public
places indicating first twenty names on list.
3. Reduce present board spending limit from $5,000.00
to $2,000.00.
Discussion. Waiting list to be posted on -site at Park Vista
and at Joslyn Center. Question as to whether posting at
Park Vista would cause any problems. List is to be up -dated
when changes occur. Al suggested all names on waiting list
be posted rather than just the first twenty as the Council
had requested. Al stated it would be easy to up -date the
list since it was kept up -to -date on the computer. Edna had
some pertinent remarks to make in this regard.
Question regarding two people who had applied for residency
who may not be acceptable due to their incomes. Discussion.
MOTION by Edna Freeman that list be posted in two places,
- 5 -
namely, Park Vista and Joslyn Center. Seconded by Dollie
Thomas and carried.
Question as to how list could be protected, encased in
plastic or under glass? It was determined that, for the
time being, list will be placed in plastic cover for posting
and that list should be posted by January 1st.
Pete reported that Unit Inspection would be completed soon.
Underwriter to come and look at building for evaluation.
Suggestion box has been installed. Dollie Thomas
volunteered to be the person who would collect the suggest-
ions periodically and present them to the board. She will
have the only key to the box.
ADJOURNMENT:
Next regular meeting date, December 25th, Christmas Day. It
was indicated there would not be a quorum present on that
date, therefore a new meeting date was set for January 22nd.
MOTION to adjourn meeting to January 22, 1997 made by
Dollie Thomas. Seconded by Keith Covington and carried.
Meeting adjourned at 9:04 p.m.
----------------------------------
Dollie Thomas, secretary
' - 6 -
01/15/1597 14:33 213 - 765 -9623 HOUSING MANAGEMENT
PAGE 03
EL SEGU"O SE OR HOUSING BOARD
AGENDA ITEM STATE ENT FROM HOUSING MANAGEMENT ASSOCIATES, MANAGING
AGENT FOR BOARD MEETING OF January 22___- ., 19 97
AGENDA -HEADI G: p ENTATION OF FINANCIAL STATEMENTS FOR THE MONTH OF
FpR APPROVAL BY BOARD
Same as above.
RECOMMENDE15 BOARD ACTION:
Review and approval of attached financial statements.
Summary of Operating Results
Actual Net' Operating
as per Budget Comparison Report:
Income $ 5,297
Budgeted *t Operating Income 5,279
Results foir the Month 18
An analysis of Budget Comparison Report will be included as part of
our Management Report which will be submitted to Board Members before
the Board Meeting.:
The Balance Sheet and Record of Project Bank Accounts should be self
explanatory.
ATTACHED SUPPORTING!DOCUMENTS:
Identified above . :
FISCAL IMPACT: Ye- s o or in ormation only)
(Check one) Operating Budges,,__ Replacement Budget Capital Improv. Budget_
Amount Requested:_
Opelrating Budget Line Item:
Tot�l Budgeted YTD: _
Totol Spent YTD:
Am unt Remaining in Budget YTD:
vR�ta�tvN�ty: Alan (;. Mosk t Date* /
a Housing e As oc�a es,
Managing ent
01/15/1997 14 :33 213 - 765 -9623 HOUSING MANAGEMENT
HOUSING MANAGEMENT ASSOCIATES
DATE: Janus ry 15,1997
TO: BOARD OF DIRECTORS
FROM: AL C. MOSK, PROPERTY SUPERVISOR
SUBJECT: PARI VISTA: MANAGEMENT RF.PCIRT F TuF I
PAGE 04
A. FIN CIAL 09ERATIONS: Enclosed herewith for your reference and file arc copies of
the Budget Compatisbu Report, Balance sheet, and Record of Project Bank Accounts for the
month of December,'1996. A summary of the operating results as per these statements is as
follows! i
1.
a.
(1)
(2)
(3)
$ 5.297
sm
(4) Results for the 4outh: Total Revenue for the month was over budget mainly because of
recognizing Interest Income on the Reserve Accounts. Under Administrative Expenses
Miscellaneous AdraWstrative Expenses were over budget because of a $400 payment to Mr.
Osborn, the architect,' for his services in connection with the bidding on the exterior repairs.
Utilities Expenses were over budget mainly because of the Water bill. Under Operating &
Maintenance Expenses Elevator Maintenance was over budget because of special repair work
including overtime at a cost of $262, payment of the annual state inspection fees of $220 plus the
regular monthly maintenance service charge of $440. Taxes & Insurance was over budget
because of the increaie in the Property & liability Insurance premium during the year. Expenses
in all other categories were in line with or under budget.
b. Year -tong;
(1)
(2)
(3)
$ 73,115
01/15/1997 14:33 213 - 765 -9623 HOUSING MANAGEMENT PAGE 05
(4) Comments., Thi represents the final unaudited Budget Comparison Report for 1996. Total
Revenue was over budget mainly because of Interest Income from the Reserve Accounts over
budget. Administra6e Expenses were well over budget because all payroll costs including
Workers Compensation and Health Insurance which were included in the Management Fee under
the old budget. So the Year -to -Date amounts for Management Fee were well over budget and the
various payroll accoutits, payroll taxes, Workers Compensation, and Health Insurance will be
under budget for the jI car. All other expense categories were in line with or under budget for the
period.
2. Ralance Sheet: V�e had a balance of only $847 in the Operating Account at the end of 1996
which is not a sufficiint balance. Therefore, we request the transfer of $10,000 from the Reserve
Account to the Operating Account to provide a reasonable balance to commence operations for
1997. Otherwise, the' Balance Sheet should be self explanatory.
3. Record of Projeci Bank ArcouIIts: Other than the low balance in the Operating Account as
described above, this should be self explanatory.
4. Reque ted RevigiLs to Reserve Study: The Board will recall that we contacted Barrcra &
Co. with regard to sonne corrections, clarifications and other revisions to the Reserve Study done
by them this year. They responded that they would make these revisions but since it was after
the grace period provided in the contract with them, they would charge and additional $300 to
make these changes. This was not acceptable to the Board and we were requested to discuss this
with Mr. F. Shawn BkTera, the head of the company. We discussed this with Mr. Sanders of
Barr= and were advised that Mr. Barrera wanted to discuss the matter directly with a member
of the Board. We re&rred him to Mr. Covington. We are waiting for instructions form the
Board on what action to take at this point,
B. OCCUUNCY:
I. Yagangiss: None, as of the date of this report.
11L
2. �jpq�gies: 1 one as of the date of this report.
3. Status f W : The Waiting List is administered by Mrs. Freeman.
C. PERSONNEL: �outinc.
D. PROPOSED AD12ENDUM TO MANAGIRMENT AGREEMENT: A draft of the
revision to Article 13.2 of the current Management Agreement which deals with insurance
requirements has beein submitted to the attorney, Mr. Straatsma. We are waiting for the response
to this proposed revision to this Article. We believe that this is the last part of the proposed
Addendum to the Management Agreement that still needs to be resolved.
E. INSTALLATION OF C014TROL JOIXTS ON FX31RIOR WALLS; We are waiting
for instructions from Ithe Board on how to proceed with regard to this matter. We recommend
2
01/15/1997 14:33 213 - 765 -9623 HOUSING MANAGEMENT PAGE 06
that we be authorized to advertise the job again to obtain new bids using essentially the same
requests for proposals. However, we would add a standard format for submitting bids so that the
components of all bids can be compared We would ask the two bidders to rebid using the
standard format. We also would plan to advertise in the Los Angeles Times and the Daily
Breeze as well as the t1 Segundo Herald to increase the probability of obtaining at least 3 bids.
We are prepared to pi+oceed with this immediately upon approval of the Board. We would hope
to obtain good prices because this is usually the slowest time for contractors.
F. : We were advised by our Property, Liability lazed Earthquake insuror,
State ,Farm Insurance Co., that they will not be able to conduct the inspection of the property by
their underwriter and "provide a risk evaluation that we requested for the present because of their
tremendous work load in connection with the flooding in the state. Also, we have not yet
received an answer back from the City with regard to participating in their insurance program.
G. HJEQ TEST FOH CLARIFICATION OF P O ..n TRFS FOR ISS11IN = CARD KEYS
TQ GARAGE: A problem has arisen regarding the procedures for issuing card keys for the
garage. It is the unddrstanding of management that the following procedures are to be followed
with regard to parking in the garage:
1. Each resident (fanhily) is authorized to park only one (1) car in the garage subject to the
availability of spaces;
JJi
2. That each family is to be issued only one (1) key card for access to the garage.
3. That when a resid�nt authorized to park in the garage is unable to utilize their parking space in
the garage temporarily because of illness or some other cause, that the resident must advise
management. Management will then offer the space to the resident at the top of the Waiting List
and allow that resident to use the space temporarily until the original resident is able to resume
using the space.
We plan to put this ratter on the agenda for the Board Meeting scheduled for January 22, 1997
and obtain a decision form the Board at that time on these issues.
! :" "awl DI 11711011#14 A:7.Vli t ►.
1. Mg;nten2nee & Re+ia: Routine.
1
2. Secuft,: A tres iasser entered the garage and broke into Mrs. Dannemiller's car and another
resident's car. In investigating the matter it was determined that the entry key held by the
rubbish disposal firm, Waste Management, had been either lost or stolen and that key Was used to
enter the garage. This key also would have provided access to the building entrances but not any
of the apartment uni�s. It appears that the building was not entered. However, the security of the
project was severely compromised by this action. It required us to have all locks to the garage
and the building rek�yed and new entrance keys had to be made for all residents and staff
personnel. This rek ying was done so that the entry key for the garage will no longer provide
01/15/1997 14:33 213 - 765 -9623 HOUSING MANAGEMENT PAGE 07
access to the building The total cost for the keying work and the damages to vehicles and stolen
items came to $1,948; However, Waste Management assumed responsibility and reimbursed
Park Vista for the fO amount.
This concludes all matters of general interest to the owners as of the date of this report.
End
cc: J. Andoe,
A. Dannemiller
4
01/15/1997 14.33 213 - 765 -9623 HOUSING MANAGEMENT PAGE 08
I
PAM VISTA APARTURSTS
wulq�t.Ca�parison fcap0rt
17 94089940 EalSng Deeea�bez 31,1!!6 '
Prepared by Rousing I[anafasent Associates
I
.CCOVFV NO. mcmarnow cuylt=T wms cu%*Wrr &WORT C9719. VARX"= rm 7riv waottsT r= VARIANCs
RXV91 R ACCOVaTa
KENT 3twum w- Oltoss POT"
;120 -0000 Rent In000e $ 35,694 $ 35,271 $ 423 $ 424.174 S 123,150 $ 1,726
1199 -0000 TOTAL PWT Rzv -020118 POT. 6 35,604 $ 35,271 8 033 4 420,970 S 413,250 $ 1,726
S350 -0000 TOTA2, MM Ro1rA4 $ 35.894 $ 35,271 5 433 $ 470.970 11 433,2S0 $ 1,734
PTR)1NC3;AL RRV90=
5440 -0009 Total Rearv.AsO Interest =.tee 775 1,017 u,6oc 9,3fs 6,511
5699 -0000 TOmL rw=m RXV*wzs
-------------- ,c•• $ 775 $ 1,913 $ 15,•6c $ 9.39s $ 9,548
171a
0TN•R RRVIM=
5910 -0000 Laupdry moor 433 433 0 5,66S 5.104 SOi
5912 -0000 Parking 11360 1,471 (33) 13,790 17,040 (1,256)
5920 -0000 Ray a yste CSargee 0 0 0 i6 0 10
5930 -0000 naaage a cleaning v «e 0 0 0 as a es
5995 -0000 TOTAL OTEM RRVRMVi 6 1,000 $ 1.853 6 03) $ 11,570 $ 22,233 $ (6S4)
5999 -0000 TOTAL RsVwm $ 60.103 6 37,099 $ 2.203 $ 662,356 $ 454,777 4 7,581
........ e..... r .......... ... ........... .er ...eer...... 0. ..........rare ..a." .........
rROJRCT =FWSI ACCOUNT$
unaudited -cash waste ( mawz)
AMIF10TRATm f> PngRi
6209 -0000
Food seraioe
0
0
0
14
0
(14)
6210 -0000
Advercisipg
0
0
0
120
0
(130)
6250 -0000
Otber Ranting Mapan6e
0
0
•
117
90
(27)
6310 -0000
Ottloe galaxies
11260
1,006
(354)
8,036
12.067
4,031
6311 -0000
099100 supplies
154
220
74
1.S92
2,731
1,139
6320 -0000
Nanageemeat gee
2,000
2,000
0
49.520
24,000
(25,530)
6330 -0000
Site alaaagere salary
2,267
1,707
(530)
14.379
20,4.4
41305
6350 -0000
Audit Marano.
0
12s
125
2,000
1,500
1300)
6360 -0000
T.1.rbome
319
112
(97)
1,767
3,665
a98
6565 -0000
Cable 'IV
1,117
1,297
00
16.606
Is,544
9S6
6390 -0099
Other
651
336
(395)
6,435
4,366
(2.169)
639S -0000
TOTAL AD6EMATRATIVw So $
I
-
7,050 6
6,949 $
(900) $
90,456 $
03,367 1
(15,131)
V7'2LI7Iww XXPw)6aw
6650 -0000
i10etrteity
1,1.3
1,245
67
12,453
14,9.2
21529
6451 -0000
plater
11339
761
(560)
0.687
9,134
247
unaudited -cash waste ( mawz)
01/15/1997 14:33 213 - 765 -9623 HOUSING MANAGEMENT PAGE 09 Mom
PARR V%STA A "Tumm
Rudget Compari.ea Report
12 Mentb■ wading DYeemkor 31,1996
proparod ky gouging manavafeat Aa■e0latas
.CCOV" PD.
095CRUT209
CORRw6Mr MOlri'B CCRRwNT DMONT CWR. VARX"Cw
YTD
rm ODDawT
YTD VARIARCI
;452 -0000
and
;
577
$
476
s
(51)
6
5,757
;
5,717
$
441)
1490 -0000
TOTAL VTXLITIws uPw)689
i
3,038
E
21406
6
(S52)
77,097
$
29,833
;
1,736
Orw1kATIR9/)N►SR4WAW2 RXF
i510 -0000
Janitorial payroll
1.003
11018
(65)
8.173
13,210
4,087
6515 -0000
Janitorial supanaes
159
96
(13)
2.072
X.032
typo)
5519 -0000
Eiterasaatihp Cootwast
46
50
4
1,166
600
1566)
6$20 -0000
lottoroinating supplies
0
9
0
S
0
(5)
6535 -0000
61ot(a48 Payroll
300
300
0
2,400
3,600
11300
6936 -0000
Oroun4a pupplies
0
24
24
660
207
(304)
6640 -0900
Repairs payroll
1.545
3.401
(144)
11.535
161906
$1274
6541 -0000
Repairs Material
163
206
46
2,562
3,419
(65)
6542 -0000
Repairs contract
$99
863
164
3.53#
10,358
$1911
6$45 -0000
wlarator Maint. /Coatrast
912
430
(471)
4,353
6.160
(1.193)
6560 -0000
Daooratihp Contract
0
113
113
2.527
1,350
(1.177)
6561 -0000
Decorating supplies
a
0
0
375
0
(375)
6989 -0000
rir■ protection 9*p•
0
90
70
3.365
1,060
(2.195)
6590 -0000
hire. Na1at. /Oporat>tag
(120)
303
423
162
3,633
3,451
6599 -0000
TOTAL QYIR /YAIRT RA?w /iw
6
4,796
=
4,986
=
90
9
44,723
:
$9.313
6
13.091
I
TATws a IW#VPARCw
6711 -0000
payroll Tasos
471
470
(9)
41362
51637
1,275
6719 -0000
Yisc. Taxes, Lic. i Pero,
0
0
0
20
0
(20)
6720 -0000
Prop. /Liakility law.
2,690
1,913
(777)
27.199
22.057
(4,242)
6721 -0000
Pidelity Rond Isouraooe
0
0
0
116
0
(116)
6722 -0000
gerkera Cowsaastioa
$is
262
(256)
7.353
3,142
969
6723 -0000
wealth Ins /lbr. venYlitr
617
659
42
4,864
7,908
3,044
6717 -0000
D a v Llakility Inc
0
105
106
1,304
1.267
(37)
6790 -6000
TOTAT. TxUS a XNSVRARCS
i
4,304
;
3,410
6
(894)
=
40.218
i
401911
6
693
rYRAmxAL z"msws
6815 -O000
Debt ser•ioe
14.999
14,989
0
176,664
179.668
0
6415 -0000
79M rIRARCIAL KUWASIW
=
14,099
S
14,509
;
9
;
178,668
6
179,666
t
0
6877 -0000
TOTAL ovZ&ATTSO WWZWPTA
34,605
77.620
(21261)
300.193
31113*2
11199
6990 -0000
WaT OPwaATS =CoR;R /(W2i1
5
5.297
i
5,271
9
16
8
33,165
s
63,395
9
7.700
ae�YYeeeesr„aa
aeiaeYY�eaee.lY
aeaeeYeaaaa...
Ye.eee........
a.
.....
YYYA
ee.Yl. a....
6760 -0000
RirL%C1bmw i%iwimnmtl
199
0
(199)
111747
0
(11.747)
OhSaudited -Caab Doak (vUWZP)
01!15/1997 14:33 213 - 765 -9623
HOUSING MANAGEMENT PAGE 10
,ARK vISTA AVARTUMS
5�dg.t casparla— R6eort
13 yaptha Ead1u4 naeawbloz 71,1996
proparad by x0u.in9 l "' "mat A„oeiat50
ym ommaT rm VARTAME
OE8CRI811� QA
Cltgn jjoVW CQRRM RUMW CVRR- VARIAges
7� S 379 + 61,418 5 63,355 6 (1.967
'Coven lro• ,09! ! 1151)
jxG+01R i S � 0. ■w...owwww..
07'0 -0000 ADJ. N5T OTERA w .............■ ..•......W.... ....•••w ►.
0,..0...0.... ...0 w....... ... ------- ------
ppaudlt*d -CaSR 5a51a (*VV*2T)
01/15/1997 14:_33 213 - 765 -9623 HOUSING MANAGEMENT
pARR VISTA APARTMENTS
Balance S
heet
112 months Ending December 31,1996
ASSETS
CrRRENT ASSETS 847
Cash in Bank -1st Coastal 500
Petty Cash - - -- ----- - - - - --
TOTAL CURREIJT ASSETS
REPAID EXPENSES
Prepd Prop. a Liab. Ihs
:ESERVE ACCOUNTS
Rpi.Resry Acct -Coast red
Rel.Reary Acct -BofA
Rp1.Resry Acc -wv M/M
Rpl.Resry Acct_(;Vm M/W
TOTAL RESERVE ACCOUNTS
FIXED ASSETS
TOTAL ASSETS
4,000
108,790
78,051
177,817
94'759
-- • - - - - --
1,347
459,423
PAGE 11
- - - - - -
$ 464,770
............ ....
01/15/1997 14:33 213 - 765 -9623
HOUSING MANAGEMENT PAGE 12
PARx VISTA APARTKENTS
Balance Sheet
i2 Months Ending December 31,1996
LIABILITY ACCOUNTS
IIRRENT LIABILITIES $ 1,885
ACCOUntS Payable
De oaita 30,088
Tenant Security p - --- ----- - - - - --
TOTAL CURRENT LIABILITIES
SONG TERM LIABILITIES ---------- - - - - --
31,973
- -- - - -- - -- $
TOTAL LIABILITIES
EQIIITY ACCOUNTS
252,256
TOTAL RESERVES
WITAL 62,284
Current Net InCOme 118,258
Retained Earnings ------- - - - ---
- ^- S 180,541
TOTAL CAPITAL
------------
TOTAL RESERVES S CAPITAL
I
TOTAL LIAB.RSRVS.CAP�TAL
31,973
432,797
$ -------- 464,770
01/15/1997 14:33 213 - 765 -9623
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HOUSING MANAGEMENT
PAGE 13
0) CD
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hrtlld
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HOUSING MANAGEMENT
PAGE 13
To: Judy Andoe
From: Joseph M. Montes 1 -14 -97 2:2Bpm p. 2 of 3
1
EL SEGUNDO SENIOR CITIZEN HOUSING BOARD
AGENDA ITEM STATEMENT FROM BURKE, WILLIAMS & SORENSEN,
GENERAL COUNSEL, FOR BOARD MEETING OF JANUARY 22, 1997
AGENDA HEADING: HMA Management Agreement Addendum
AGENDA DESCRIPTION: Consideration and Adoption of an addendum to the HMA
Management Agreement, continuing the term of the Agreement for an additional six months,
subject to a thirty day written notice of termination clause.
RECOMMENDED BOARD ACTION: That the El Segundo Senior Citizen Housing
Corporation Board approve and execute the proposed Addendum to the Management
Agreement, attached hereto.
BRIEF SUMMARY: The El Segundo Senior Citizen Housing Board entered into a contract
on February 1, 1994 with Housing Management Associates to provide management services
for the Park Vista Apartments. By its terms, that Agreement expires on January 31, 1997.
The attached Addendum to Management Agreement continues the existing Management
Agreement for an additional six months, through July 31, 1997. The Addendum modifies
the termination provisions of the Management Agreement to permit termination by either
party upon thirty days written notice.
ATTACHED SUPPORTING DOCUMENTS: Proposed Addendum to Management
Agreement.
FISCAL IMPACT: Yes. Will preserve the status quo. Operating Budget. Line Item:
ORIGINATED:
LAX2:172631.1
To: Judy Andoe from: Joseph M. Montes 1 -14 -97 2:28pm p. 3 of 3
ADDENDUM TO MANAGEMENT AGREEMENT
The El Segundo Senior Citizen Housing Corporation (hereinafter "Park Vista ") and
Housing Management Associates (hereinafter "HMA ", collectively the "Parties ") hereby
amend the Management Agreement entered into by the Parties on February 1, 1994 (the
"Agreement ") as follows:
Section 1.3 of the Agreement is amended to read as follows:
"1.3 TERM. This Agreement shall expire on July 31, 1997, subject to the
provisions set forth in Section 19 `Termination' infra."
Section 19.1 of the Agreement is amended to read as follows:
"19.1 This Agreement shall be terminable by either Party for any reason upon
30 days written notice."
Section 19.2 of the Agreement is deleted.
All other terms and conditions of the Agreement and any written addenda and /or
amendments thereto shall remain unchanged and in full force and effect.
EL SEGUNDO SENIOR CITIZENS
ASSOCIATES
HOUSING CORPORATION aka
PARK VISTA
RV
+Peter Freeman, President
Date:
LAX2:172631.1
HOUSING MANAGEMENT
By:
Alan C. Mosk, General Mgr.
Date:
16
.C. -, ---A
ADDENDUM TO MANAGEMENT AGREEMENT
Section 15. 1, FEE FOR MANAGEMENT SERVICES, in that certain
MANAGEMENT AGREEMENT dated February 1, 1994, by and between
EL SEGUNDO SENIOR CITIZENS HOUSING CORPORATION aka PARK VISTA,
and HOUSING MANAGEMENT ASSOCIATES is hereby amended to read
as follows:
"For its proper performance of all of the services as
set forth herein during the calendar year 1995, HMA shall be
paid a Tee of $8,380.00 per month ($100,560.00 for the entire
year of 1995). The monthly fee shall be renegotiated between
the parties each year hereafter of the remaining term of this
Agreement."
All other terms and conditions of this Management Agreement
shall remain unchanged and in full force.
EL SEGUNDO SENIOR CITIZENS HOUSING MANAGEMENT ASSOCIATES
HOUSINORPORATION aka
PARK VISTA i
By:
arold Verch, President
Date: a – /0 - ?-S—
By:
Alan C. Mosk, General Mgr.
Date:
MANAGEMENT AGREEMENT
This Agreement, effective the ist day of February, 1994, is
made by and between the E1 Segundo Senior Citizens Housing
Development Corp., aka "Park Vista" (hereinafter referred to as
"PV") and Housing Management Associates (hereinafter referred to as
"HMA" ) .
Section 1 APPOINTMENT
1.1 ACCEPTANCE
PV hereby contracts with HMA, an independent contractor, to
lease and manage the property described in paragraph 1.2 hereof
upon the terms and conditions set forth herein. -HMA accepts the
appointment and agrees to furnish the services of its organization
for the leasing, management, repair, maintenance and landscaping of
the Premises.
1.2 DESCRIPTION OF PREMISES
The property to be managed by HMA under this Agreement
(the "Premises ") is known as Park Vista located at 615 E. Holly
Ave., E1 Segundo, CA 90245, consisting of the land, buildings and
other improvements described as an elderly housing project for
independent living in the State of California.
1.3 TERM
The term of this Agreement shall be for an initial period of
three years (the "initial term ") from the 1st day of February 1994,
to and including the 31st day of January 1997, subject to the
provisions set forth in Section 19 "Termination" infra.
1.4 MANAGEMENT OFFICE
PV shall provide adequate space on the Premises for a
management office. PV shall pay all expenses related to
maintaining, but not staffing, such office; including, but not
limited to; furnishings, equipment, postage and office supplies,
electricity, utilities and telephone for business usage only.
1.5 APARTMENT FOR ON -SITE STAFF
PV shall provide a suitable apartment on the Premises for the
use of an on -site manager, rent -free, except that such resident
staff shall pay for their heat, utilities and telephone in the same
manner as other tenants. The on -site manager's specific apartment
shall be PV's choice.
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1.6 ASSIGNMENT OF AGREEMENT
This agreement may not be assigned or transferred to any
other party by HMA without first receiving the express written
approval of PV.
Section 2 BANK ACCOUNTS
The operating account established under this Agreement shall
be with E1 Segundo First National Bank and shall at all times be in
the name of, and owned by, Park Vista, but under MA's control.
HMA's designees shall be the only parties authorized to draw upon
such account . owever ,_ HMA! s - laon#llY management fee and all other
checks in amounts in excess of $11999.99 shall be counters_igned_by
—_ .
No amounts in
tierPV .President_ and. or Chief F'nanciaj.,�_�..cers
any accounts established under this Agreement shall, in any event,
be commingled with any other funds of HMA or it other clients.
2.1 OPERATING (AND /OR) RESERVE ACCOUNT(S)
HMA shall take over the previously established operating
account(s) known as the Park Vista Operating Account(s) , at the El
Segundo First National Bank to be used for the deposit of receipts
collected as described herein which deposits are insured by the
federal government. Any other depository which may be used in the
future shall be selected by the PV. HMA shall not be held liable
in the event of the bankruptcy or failure of any institution
selected by PV. Funds in the Operating (and /or) Reserve Account(s)
remain the property of PV subject to disbursement of operating
expenses by HMA as described in this Agreement. HMA shall remit to
PV, or directly deposit to a Reserve Account established by PV, the
monthly Reserve amount from the rental receipts.
2.1.1 INITIAL DEPOSIT AND CONTINGENCY RESERVE
Immediately upon commencement of this Agreement, HMA shall be
substituted for Corporate Property Management Inc., ( "CPMI" the
outgoing management company) on the Operating Account at ESFNB.
HMA may conduct its own audit of the Operating Account. A
contingency reserve account is maintained by PV, the funds therein
to be used by the officers and /or directors of PV for the
management and benefit of the Premises.
2.2 SECURITY DEPOSIT ACCOUNT
HMA shall, if required by law, maintain a separate interest
bearing account for tenant security deposits and advance rentals.
Such account shall be maintained in accordance with applicable
state or federal laws, if any. HMA shall obtain all existing
security deposits from CPMI.
2.3 FIDELITY BOND
HMA shall cause all personnel who handle or are responsible
for the safekeeping of any monies of PV to be insured by a
fidelity bond in the amount of $100,000.00 with a company to be
selected by HMA. Such bond shall be secured at HMA's expense and
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PV and its Board of Directors, shall be named as an additional
insured thereon.
Section 3 COLLECTION OF RENTS AND OTHER RECEIPTS
3.1 HMA's COLLECTION AND BANKING AUTHORITY
HMA shall collect and receipt for all rents, charges and other
amounts receivable on PV account in connection with the management
and operation of the Premises. Such receipts (except tenants'
security deposits and advance rentals, which shall be handled as
specified.in paragraphs 2.2 and 2.3 hereof; and special charges,
which shall be handled as specified in paragraph 3.2 hereof) shall
be deposited in the Operating (and /or) Reserve Account(s)
maintained for the benefit of the Premises.
3.2 SPECIAL CHARGES_
If permitted by applicable law, HMA may collect from
tenants any or all of the following: an administrative charge
for late payment of rent, a charge for returned or non - negotiable
checks, credit reports, physicians and medical reports and all
other expenses associated with people desiring to qualify to live
on the Premises.
3.3 SECURITY DEPOSITS
HMA shall collect, deposit, and disburse tenants' security
deposits in accordance with the terms of each tenant's lease. HMA
shall pay tenants interest upon such security deposits only if
required by law to do so. HMA shall comply with all applicable
state or local laws concerning the responsibility for security
deposits and interest, if any.
Section 4 DISBURSEMENTS FROM OPERATING ACCOUNTS
4.1 OPERATING EXPENSES
Subject to the terms set forth in Section 2 and other related
matters set forth or referred to herein, HMA is hereby authorized
to pay the daily costs of operating the Premises.
4.2 NET PROCEEDS
To the extent that funds are reasonably available., HMA shall
transmit the cash balance of the Operating Account to PV to be
deposited in the Cash Contingency Reserve Account. Such periodic
cash balances shall be remitted to the President and /or Chief
Financial Officer at their then current addresses.
Section 5 HMA NOT REQUIRED TO ADVANCE FUNDS
In the event that the balance in the Operating Account(s) is
at any time insufficient to pay disbursements due and payable under
paragraphs 4.1 and 4.2 above, PV shall, immediately upon notice,
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remit to HMA, sufficient funds to cover the deficiency with an
additional $5,000.00 for contingent operating expenses. In no
event shall HMA be required to use its own funds to pay such
disbursements nor shall HMA be required to advance any monies to
the PV Security Deposit or the Operating Account(s).
Section 6 FINANCIAL AND OTHER REPORTS
6.1 MONTHLY FINANCIAL REPORT
By the 15th day of each month, or 3 days prior to the monthly
board meeting, whichever is the later, HMA shall furnish the
members of the PVBD with a monthly financial statement of
delinquent accounts, cash receipts and disbursements from the
operation of the Premises during the previous month. In addition,
HMA shall, on a mutually acceptable schedule, prepare and submit to
PV such other reports as may be required by PV.
6.2 PV'S RIGHT TO AUDIT
PV shall have the right to conduct periodic audits of all
applicable accounts managed by HMA. The cost of such audit(s) shall
be paid by PV.
6.3 ANNUAL BUDGET
The Annual Operating Budget for PV will be prepared by HMA
with the PV Chief Financial Officer to be submitted to the PV Board
of Directors prior to October 15, of each year for approval. PV
will promptly inform HMA of any changes in the draft Budget
proposal. HMA shall keep PV informed of any real or anticipated
deviations from the receipts or disbursements as set forth in the
previous years approved budget.
6.4 PREPARATION COSTS
The preparation cost of all reports, bookkeeping, clerical and
other management overhead, including but not limited to, costs of
office supplies (excluding on -site office supplies) equipment, data
processing services, postage (excluding postage for checks to
creditors), transportation for managerial personnel and telephone
services, shall be paid by HMA from its management fees and shall
not be a Park Vista expense.
Section 7 ADVERTISING
With PV's prior approval, HMA may be authorized to advertise
the Premises or portions thereof for rent, using periodicals,
signs, plans, brochures, or displays, or such other means as HMA
may deem proper and advisable, provided such advertising and such
signs comply with applicable laws. The cost of such advertising
shall be paid out of PV's Operating Account. All advertising shall
clearly state that HMA is the manager and not the Owner of the
Premises. Newspaper ads shall not share space with other
properties managed by HMA.
H
Section 8 LEASING AND RENTING
8.1 HMA'S AUTHORITY TO LEASE PREMISES
HMA shall use all reasonable efforts to keep the Premises
rented by procuring tenants for the Premises according to the rules
and regulations established by PV. HMA is otherwise authorized to
prepare and execute all leases on behalf of PV, including all
renewals and extensions of leases (and expansions of space in the
Premises, if applicable) and to cancel and modify existing leases.
For this purpose only, HMA may execute all leases as agent for PV.
The form of the lease shall be agreed upon by PV and HMA.
8.2 NO OTHER RENTAL AGENT
During the term of this Agreement, PV shall not authorize
any other person, firm or corporation to negotiate or act as
leasing agent with respect to the letting of the Premises.
8.3 ENFORCEMENT OF LEASES
HMA is authorized to institute, in PV's name, all legal
actions or proceedings for the enforcement of any lease term,
for the collection of rent or other income from the Premises,
or for the evicting or dispossessing of tenants or other
persons from the Premises. HMA is authorized to sign and serve
such notices as HMA deems necessary• for lease enforcement,
including the collection of rent or other income. HMA is
authorized, with PV's prior approval, to settle, compromise, and
release such legal actions or suits and to reinstate tenancies.
Any monies for such settlements paid out by HMA shall not exceed
$1,000.00 without prior approval by PV. Attorneys' fees, filing
fees, court costs, and other necessary expenses incurred in
connection with such actions and not recovered from tenants shall
be paid out of the Operating and /or Reserve Account(s). HMA may,
subject to PVBD approval, select the attorney of its choice to
handle such litigation.
Section 9 EMPLOYEES
9.1 HMA'S AUTHORITY TO HIRE
HMA shall hire, supervise, discharge, and pay all servants,
employees, contractors, or other personnel from its management fee,
to perform the normal day to. day management, maintenance,
landscaping and operation of the Premises.
9.2 HMA TO PAY ALL EMPLOYEE EXPENSES
All wages and fringe benefits payable to such servants,
employees, contractors and /or other personnel hired per paragraph
9.1 above, and all local, state, and federal taxes and assessments
(including but not limited to Social Security taxes, unemployment
insurance, withholding and workers' compensation insurance)
incident to the employment of such personnel, shall be paid by HMA
out of its management fee.
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9.3 HMA's AUTHORITY TO FILE RETURNS.
HMA shall do and perform all acts required of an employer
with respect to the Premises and shall execute and file all W -2,
1099, employee quarterly, all tax and other returns required under
applicable federal, state and local laws, regulations, and /or
ordinances governing employment, in addition to all other
statements and reports pertaining to labor employed in connection
with the Premises and according to any similar federal or state law
now or hereafter in force. In connection with such filings, PV
shall upon request, promptly execute and deliver to HMA all
necessary powers of attorney, notices of appointment, and the like.
HMA shall be responsible for all amounts required to be paid under
the foregoing laws and HMA shall pay the same from the management
fees that it receives under the terms of this Agreement.
9.4 WORKERS' COMPENSATION INSURANCE
HMA shall, at HMA's expense, shall maintain workers'
compensation insurance covering all such liability of the employer
under established workers' compensation laws.
9.5 HOLD HARMLESS, LABOR LAWS
HMA shall be responsible for compliance with all applicable
state and federal labor laws. HMA shall indemnify, defend, and
save PV and its Board of Directors harmless from all claims,
investigations, and suits, from HMA's actions or failures to act,
with respect to any alleged or actual violation of state or federal
labor laws. HMA's obligation with respect to such violation(s)
shall include payment of all settlements, judgements, damages,
liquidated damages, penalties, forfeitures, back pay awards, court
costs, litigation expenses, and attorneys' fees.
9.6 ACCEPTANCE OF GIFTS AND /OR GRATUITIES
No employee of HMA shall accept any gratuity or compensation
directly from any resident of Park Vista for any services rendered.
Nor shall any employee of HMA accept any gratuities or gifts from
any resident of Park Vista, except birthday or holiday gifts not
exceeding a value of $10.
Section 10 MAINTENANCE, LANDSCAPING, INSPECTIONS & REPORTS
10.1 MAINTENANCE REQUIREMENTS
HMA shall cause PV to be maintained and repaired in accordance
with local codes and in a condition that is at all times acceptable
to PV, including, but not limited to; cleaning, painting,
decorating, plumbing, carpentry, grounds care and such other
matters as from time to time may be required. HMA shall use its
employed maintenance personnel to perform all janitorial tasks and
make all reasonably necessary repairs and replacements for the
proper, efficient operation of, and to otherwise preserve, the
Premises in its present condition. Subject to the prior approval
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of PV, HMA shall make all alterations necessary to comply with
lease and insurance requirements, statutory and governmental
regulations. HMA shall furnish experts, at PV's request and
expense, to conduct periodic examinations, provide written reports
and recommendations to insure PV's satisfactory compliance with
those requirements set forth above.
10.2 ON -SITE MAINTENANCE SPECIFICS
Special attention shall be given to preventive maintenance,
and to the greatest extent feasible, the services of HMA
maintenance personnel shall be used to perform maintenance,
repairs, landscaping, inspections and reports. Subject to PV's
prior approval, HMA shall contract with qualified independent
contractors for the maintenance and repair of equipment, systems
and the like which are beyond the capability of HMA's maintenance
employees. HMA will systematically and promptly investigate all
service requests from tenants, take such action thereon as may be
justifies and keep records and report same at the monthly PV Board
of Directors meeting. Emergency requests shall be received and
serviced on a 24 hour basis. Complaints of a serious nature will
be reported to the PV board of Directors after investigation.
10.3 APPROVAL FOR EXCEPTIONAL MAINTENANCE EXPENSE
The expense to be incurred for any one item of maintenance,
alteration, refurbishing, or repair shall not exceed the sum of
$300.00, unless such expense is first specifically authorized by
PV, or is incurred under such circumstances as HMA shall reasonably
deem to be an emergency. HMA is authorized to negotiate contracts
for nonrecurring items of expense, not to exceed $300.00. HMA
shall solicit written cost estimates (bids) from at least three
contractors or suppliers for any work item, maintenance, repair or
appliance which can reasonably be expected to cost $301.00 or more,
regardless of rebates, and submitted to PV for prior approval. All
employees, contractors or other personnel that perform work or
services at Park Vista shall be deemed to be the employees of HMA,
except those independent contractors whose contracts are first
approved by PV Board of Directors. In an emergency where repairs
are immediately necessary for the preservation and safety of the
Premises, or to avoid danger to life or property, or to comply with
federal, state, or local law, such emergency repairs may be made by
HMA at PV's expense without prior approval.
10.4 LANDSCAPING
As part of it's maintenance responsibilities, HMA shall
perform all landscaping about the Premises, including but not
limited to; mowing of grass, watering, sprinkler system repair,
fertilization of lawn and foliage. PV shall pay for tree and plant
pruning, removal and replacement.
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Section 11 RELATIONSHIP OF HMA TO PV
The relationship of the parties pursuant to this Agreement
shall be that of Principal and Independent Contractor, except that
as to those authorized actions taken by HMA on behalf of Park Vista
pursuant to the terms of this Agreement, HMA shall be acting as
Agent for PV. Nothing in this Agreement shall be otherwise
construed as creating a partnership, joint venture, or any other
relationship between the parties to this Agreement. HMA shall bear
the responsibility, loss. and damage arising out of or connected
with the hiring and /or supervision of its employees and operation
of the Premises. The employees and contractors of HMA during the
period of this Agreement are not and shall not be considered to be
the direct employee of Park Vista or PVBD. Neither party shall
have the power to bind or obligate the other, except as expressly
set forth in this Agreement, except that both parties are
authorized to act with such additional authority and power as may
be necessary to carry out the spirit and intent of this Agreement.
Section 12 SAVE HARMLESS
HMA shall indemnify, defend, and hold Park Vista and its Board
of Directors harmless, from all loss, damage, cost, expense
(including attorneys' fees), liability, and claims for personal
injury or property damage incurred or occurring in, on, or about
the Premises that may have been caused by the negligence of HMA,
its employees, contractors, agents, representatives, administrators
and assigns.
Section 13 LIABILITY INSURANCE
13.1 PARK VISTA LIABILITY INSURANCE
PV shall obtain and keep in force and effect, adequate
insurance against physical damage (e.g., fire with extended
coverage endorsement, boiler and machinery, etc.) and against
liability for loss, damage, or injury to property or persons which
might arise out of the occupancy, management, operation, or
maintenance of the Premises. The amounts and types of insurance
shall be acceptable to both parties and any deductible required
under such insurance policies shall be at PV's expense. HMA shall
be covered as an additional insured on all liability insurance
maintained with respect to the Premises. Liability insurance shall
be adequate to protect the interests of both PV and HMA. PV agrees
to furnish HMA with two (2) copies of insurance endorsements,
certificates or duplicate copies of such policies evidencing such
coverage within 60 days of the effective date of this Agreement.
Said policies shall provide that notice of default or cancellation
shall be sent to both parties and shall require a minimum of 30
days' written notice before any cancellation of /or changes to said
policies.
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13.2 HMA LIABILITY INSURANCE
HMA shall file with PV two (2) copies of insurance
endorsements, certificates or duplicate copies of such policies for
approval by the PV Board of Directors, which verify HMA's
comprehensive general operating liability and automobile liability
insurance coverage (including owned, hired and nonowner vehicles)
which shall cover, including, but not limited to; those claims:
arising from premises, operations, products 'liability, contractual
liability (including this contract), broad form property damage,
acts of independent contractors and personal injury in at least an
amount equal to $1,000,000.00 combined single limits and which
meets the following requirements:
(a) A "no deductible" clause as pertains to Park Vista and PV
Board of Directors which shall be named as additional insureds.
(b) Provides coverage for "all operations of the insureds
conducted on Park Vista's property" and contains a description of
the work performed by the insured. (This requires policy or
policies covering premises occupied, products sold, amusement
liability, or automobiles used.)
(c) All signatures must be handwritten in ink on the policy,
certificate or endorsement. Rubber stamp signatures are not
acceptable.
(d) PV and the Board of Directors shall be named as
additional insureds with respect to all actions of HMA under this
Agreement.
(e) Said policy shall contain a cancellation clause reading
in substance as follows: "It is agreed that this policy shall not
be canceled nor the amounts of coverage provided herein reduced
until thirty (30) days after the PV Board of Directors shall have
received written notice as to such cancellation or reduction, as
evidenced by return receipt of registered mail."
(f) No policy shall be acceptable unless first approved by
the PV Board of Directors and must be written by at least a "Best
Rated A XIII insurance company.
(g) Insurance coverage must be in effect and approved by
representatives of the PV within 30 days of the commencement of the
term of this Agreement.
(h) The right to subrogation against the PV shall be
specifically teed under the property insurance policy.
(i) All policies, certificates and endorsements shall be sent
in duplicate to the President of the Board, Mr. Darold Verch, 1210
East Mariposa Ave., E1 Segundo, CA 90245.
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Section 14 HMA ASSUMES NO LIABILITY FOR ACTS OF PV
HMA assumes no liability, whatsoever for any acts or omissions
of PV, Park Vista Board of Directors, any previous owners of the
Premises or any previous management or other agent of either. HMA
assumes no liability for any failure of or default by any tenant in
the payment of any rent or other charges due PV or for the
performance of any obligations owed by any tenant to PV pursuant to
any lease or otherwise. Nor does HMA assume any liability for any
violations of environmental or other regulations which occurred
prior to HMA's entering into-this agreement. Any such regulatory
violations or hazards discovered by HMA shall be brought to the
attention of PV in writing, and PV shall promptly cure them.
Section 15 HMA'S COMPENSATION AND EXPENSES
As compensation 'for the services provided by HMA under this
Agreement (and exclusive of reimbursement of expenses to which HMA
may be entitled hereunder), Park Vista shall pay HMA as follows:
15.1 FEE FOR MANAGEMENT SERVICES
For its proper performance of all the services as set forth
herein, HMA shall be paid the fee of $ 8,000.00 per month ($96,000
annually) , the monthly fee to renegotiated between the parties each
year thereafter during the term of this Agreement.
15.2 FOR APARTMENT LEASING
None. Included in 15.1.
Section 16 REPRESENTATIONS
PV represents and warrants: That PV has full power and
authority to enter this Agreement; that there are no written or
oral agreements affecting the Premises other than tenant leases,
copies of which have been furnished to HMA; that there are no
recorded easements, restrictions, reservations, or rights of way
which adversely affect the use of the Premises for the purposes
intended under this Agreement; that to the best of PV's knowledge,
the property is zoned for the intended use; that all leasing and
other permits for the operation of the Premises have been secured
and are current; that the building and its construction and
operation do not violate any applicable statutes, laws, ordinances,
rules, regulations, orders, or the like (including, but not limited
to, those pertaining to hazardous or toxic substances) ; that the
building does not contain any asbestos, urea, formaldehyde, radon,
or other toxic or hazardous substance; and that no unsafe condition
exists. Notwithstanding the forgoing, in entering into this
contract, PV has materially relied upon the representations,
inducements and promises set forth in the "PARK VISTA, EL SEGUNDO,
CA: PROPOSAL FOR MANAGEMENT SERVICES" and the enclosures thereto
submitted by Mr. Alan C. Mosk, Certified Property Manager for
out
Housing Management Associates and his oral representations at
meetings with PV Board members.
Section 17 STRUCTURAL CHANGES
PV expressly withholds from HMA any power or authority to make
any structural changes in any building, or to make any other major
alterations or additions in or to any such building or to any
equipment in any such building, or to incur any expense chargeable
to Park Vista other than expenses related to exercising the express
powers vested in HMA through this Agreement, without the prior
written consent of the PV Board of Directors. However, such
emergency repairs as may be required because of danger to life or
property, or which are immediately necessary for the preservation
and safety of the Premises or the safety of the tenants and
occupants thereof, or required to avoid the suspension of any
necessary service to the Premises, or to comply with any applicable
federal, state, or lodal laws, regulations, or ordinances, shall be
authorized pursuant to the appropriate paragraphs of this
Agreement, and HMA shall notify PV accordingly.
Section 18 BUILDING COMPLIANCE
Subject to those requirements set forth herein, HMA assumes no
liability, and is given no responsibility for compliance of the
Premises, or any equipment therein, with the requirements of any
building code, statute, ordinance, law, or regulation of any
governmental body or of any public authority or official thereof
having jurisdiction thereof, except to notify PV promptly or to
forward to PV promptly any complaints, warnings, notices, or
summonses received by HMA relating to such matters. PV represents
that to the best of its knowledge the Premises and all such
equipment comply with all such requirements.
Section 19 TERMINATION
19.1 TERMINATION BY EITHER PARTY
This Agreement may be terminated by PV; with or without cause,
upon 60 days written notice to HMA. This Agreement shall also
terminate, unless renewed by mutual consent of the parties hereto,
at the end of the initial three (3) year Agreement term.
19.2 TERMINATION FOR CAUSE
Notwithstanding the foregoing, this Agreement shall terminate
and all obligations of the parties hereunder shall cease (except as
to those liabilities and /or obligations which have accrued or
arisen prior to such termination according to the terms of this
Agreement, upon the occurrence of any of the following events:
(a) BREACH OF AGREEMENT - Thirty (30) days after the receipt
of notice by either party to the other specifying in detail a
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material breach of this Agreement, if such breach has not been
cured within said thirty (30) day period; or if such breach is of
a nature that it cannot be cured within said thirty (30) day period
but can be cured within a reasonable time thereafter, if efforts to
cure such breach have not commenced and /or such efforts are not
proceeding and being continued diligently both during and after
such thirty (30) day period prior to the breach being cured..
HOWEVER, the breach of any obligation of either party hereunder to
pay any monies to the other party under the terms of this Agreement
shall be deemed to be curable within thirty (30) days.
(b) FAILURE TO ACT, ETC. - In the event any insurance
required of PV or HMA is not maintained or it is alleged or charged
that the Premises, or any portion thereof, or any act or failure to
act by PV or HMA, with respect to the Premises, fails to comply
with any law or regulation, or any order or ruling of any public
authority, and that the action or position of either party hereto
or their representatives, with respect thereto, may result in
damage or liability to either party, or disciplinary proceeding
with respect to HMA's license. Such termination shall not release
the indemnities of the parties to one another as set forth herein.
(c) EXCESSIVE DAMAGE - Upon the destruction of, substantial
damage to, or loss of the Premises by force majeure, eminent domain
or such other cause, in any case making it impossible or
impracticable to continue operation of the Premises.
(d) INADEQUATE INSURANCE - If HMA or PV deems that the
liability insurance obtained by the other as required by the terms
hereof, is not reasonably satisfactory to protect its interest
under this Agreement. If PV and /or HMA cannot agree as to adequate
insurance, either party shall have the right to cancel this
Agreement upon the service of 60 day written notice to the other.
19.3 PV RESPONSIBLE FOR PAYMENTS
Upon termination of or withdrawal from this Agreement, PV
shall assume the obligations and responsibilities of any contract
or the payment of any outstanding bill properly undertaken by HMA
under this Agreement for and on behalf Park Vista. HMA shall
deliver to PV, within ten (10) days after the termination of this
Agreement: all monies due Park Vista in addition to tenant security
deposits being held by HMA with respect to the Premises; a final
accounting reflecting the balance of income and expenses with
respect to the Premises as of the date of termination; all records,
contracts, leases, receipts for deposits, and other papers and /or
documents which pertain to the Premises.
Section 20 INDEMNIFICATION suRVIVEs TERMINATION
All representations and wdrranties of the parties contained
herein shall survive the termination of the Agreement. All
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provisions of the Agreement that require the parties to insure,
indemnify or hold harmless one another shall survive any
termination; and if HMA, PV or PV Board of Directors becomes
involved in any proceeding or litigation by reason of the matters
contained in this Agreement, such provisions shall apply as if this
Agreement were still in effect.
Section 21 READINGS AND ATTACHMENTS
All headings and subheadings employed within this Agreement
and in the accompanying List of Provisions are inserted only for
convenience and ease of reference and are not to be considered in
the construction or interpretation of any provision of this
Agreement. However, PVBD's request for proposal is incorporated
herein by this reference except as to those matters that have been
altered or specifically deleted by the terms of this Agreement.
Section 22 FORCE MAJ IRE
Any delays in the performance of any obligation of either of
the parties hereto under the terms of this Agreement shall be
excused to the extent that such delays are caused by wars, national
emergencies, natural disasters, strikes, utility failures,
governmental regulations, riots, adverse weather, and other similar
causes not within the control of Agent, and any time periods
required for performance shall be extended accordingly.
Section 23 COMPLETE AGREEMENT
This Agreement, including any specified attachments and the
PARK VISTA, EL SEGUNDO, CA: PROPOSAL FOR MANAGEMENT SERVICES
referred to above shall constitute the entire agreement between PV
and HMA with respect to the management and operation of the
Premises and supersedes and replaces any and all previous
management agreements entered into the parties relating to the
Premises covered by this Agreement. No change to this Agreement
shall be valid unless made by supplemental written agreement
executed and approved by PV and HMA in writing. Each party to this
Agreement hereby acknowledges and agrees that the other party has
made no warranties, representations, covenants, or agreements,
express or implied, to such party, other than those expressly set
forth herein, and that each party, in entering into and executing
the Agreement, has relied upon no warranties, representations,
covenants, or agreements, express or implied, to such party, other
than those expressly set forth herein.
Section 24 RIGHTS CUMULATIVE; NO WAIVER
No right or remedy herein conferred upon or reserved to either
of the parties to this Agreement is intended to be exclusive of any
other right or remedy, and each and every right and remedy shall be
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cumulative and in addition to any other right or remedy given under
this Agreement or now or hereafter legally existing upon the
occurrence of an event of default under this Agreement. The failure
of either party to this Agreement to insist at any time upon the
strict observance or performance of any of the provisions of the
Agreement, or to exercise any right or remedy as provided in this
Agreement, shall not impair any such right or remedy or be
construed as a waiver or relinquishment of such right or remedy
with respect to subsequent defaults, Every right and remedy given
by this Agreement to the parties to it may be exercised from time
to time and as often as may be deemed expedient by those parties.
Section 25 APPLICABLE LAW AND PARTIAL INVALIDITY
The execution, interpretation, and performance of this
Agreement shall in all respects be controlled and governed by the
laws of the State of California. If any part of this Agreement
shall be declared invalid or unenforceable, then the Agreement
shall remain in full force and effect exclusive of such
unenforceable provision.
Section 26 NOTICES
Any notices, demands, consents, and reports necessary or
provided for under this Agreement shall be in writing and shall be
addressed as follows, or at such other address as PVBD and HMA
individually may hereafter specify in writing:
Housing Management Associates
20675 S. Western Ave., #206
Torrance, CA 90501 -1809
Park Vista Board of Directors
c/o Darold Verch
1210 E. Mariposa Ave.
E1 Segundo, CA 90245
Such Notice or other communication may be mailed by United States
registered or certified -mail, return receipt requested, postage
prepaid, and may be deposited in a U.S. Post Office or a depository
for the receipt of mail regularly maintained by the Post Office.
Such notices, demands consents and reports may also be delivered by
hand or by any other accepted method or means permitted by law.
For purposes of the Agreement, notices shall. be deemed to have been
"given" or "delivered' upon personal delivery thereof or three
business days after having been deposited in the U.S. mails as
provided herein.
14
Section 27 AGREEMENT BINDING UPON SUCCESSORS AND ASSIGNS
This Agreement shall be binding upon the parties hereto and
their respective personal representatives, heirs, administrators,
executors, successors, administrators, trustees and assigns.
IN WITNESS WHEREOF, the parties hereto have affixed their
respective signatures this 1st day of February, 1994.
EL SEGUNDO SENIOR CITIZENS
HOUSING CORPORATION aka
PARR VISTA
By:
Wrold Verch, President
HOUSING MANAGEMENT ASSOCIATES
By:
Alan C. Mosk, General Manager
15
01/15/1997 14:33 213 - 765 -9623 HOUSING
EL SEGUNDO NIOR HOUSING BOARD
AGENDA ITEM S4ATEMENT FROM HOUSING MANAGEMENT ASSOCIATES,
MANAGING AGENT FOR BOARD MEETING OF JANUARY 22,1997
AGENDA HEADING: ;I
REQUEST TO ADD PROCEDURES FOR PARKING IN GARAGE TO BOARD HANDBOOK
AGENDA DESCI
Same as above.
RECOMMENDED BO ACTION: parking e and issuance of card keys.
Confirtnation of pro sed procedures for arkin in garage
BRIEF SUMMARY:
Handbook: I{
1. That each resident (family) be Authorized to park only one (1) car in the garage subject to the availability of
spaces.
2. That each family be i�sued only one (1) card key for access to the garage.
3. That when a resident authorized to park in the garage is unable to utilize their parking space in the garage
temporarily because of illness or some other cause, that the resident must give the space back to management until
the resident is again able to utilize the space. Management will offer the space to the resident at the top of the
Waiting List and allow that resident to use the space temporarily until the original resident is able to resume using
the space. if the original resident is unable to resume using the space after six (6) months, that that resident must
relinquish the use of the !pace and the other resident will be given the use of the space on a regular basis.
recommends the following procedures be confirmed in writing in the Board
ATTACHED SUPPOR�'ING DOCUMENTS: Board Handbook (not attached)
FISCAL IMPACT: Y
ORIGI
49n C. Mos0
ACTION TAKEN:
No X
k one) operating Budget
,tin& Budget Line Item:
uit Requested:
Budgeted YTA:
Spent YTD:
mt Remaining in Budget
Replacement Budget Capital Improv. Budget:
Date: January 15, Ivy
Supervisor, [lousing Management Associates, Managing Agent