CONTRACT 5766 On Call AgreementAgreement No. 5766
Agreement No.
AGREEMENT FOR ON-CALL PROFESSIONAL
ECONOMIC AND REAL ESTATE ADVISORY SERVICES
BETWEEN THE CITY OF EL SEGUNDO AND
KOSMONT & ASSOCIATES, INC.
This AGREEMENT is entered into this 27th day of August, 2019, by and between
the CITY OF EL SEGUNDO, a general law city and municipal corporation ("CITY") and
KOSMONT & ASSOCIATES, Inc., doing business as KOSMONT COMPANIES a
California Corporation ("CONSULTANT").
1. CONSIDERATION,
A. As partial consideration, CONSULTANT agrees to perform the work listed
in the SCOPE OF SERVICES, below;
B. As additional consideration, CONSULTANT and CITY agree to abide by the
terms and conditions contained in this Agreement;
C. As additional consideration, CITY agrees to pay CONSULTANT for
CONSULTANT's services. CONSULTANT acknowledges that it will be paid
with funds received by the CITY from the Developer and/or Applicant
associated with each project for which CONSULTANT performs services on
behalf of the CITY.
2. SCOPE OF SERVICES.
A. CONSULTANT will perform services listed in the attached Exhibit "A," which
is incorporated by reference.
B. CONSULTANT will, in a professional manner, furnish all of the labor,
technical, administrative, professional and other personnel, all supplies and
materials, equipment, printing, vehicles, transportation, office space and
facilities, and all tests, testing and analyses, calculation, and all other means
whatsoever, except as herein otherwise expressly specified to be furnished
by CITY, necessary or proper to perform and complete the work and provide
the professional services required of CONSULTANT by this Agreement.
3. PERFORMANCE STANDARDS. While performing this Agreement,
CONSULTANT will use the appropriate generally accepted professional standards of
practice existing at the time of performance utilized by persons engaged in providing
similar services. CITY will continuously monitor CONSULTANT's services. CITY will notify
CONSULTANT of any deficiencies and CONSULTANT will have 15 days after such
notification to cure any shortcomings to CITY's satisfaction. Costs associated with curing
the deficiencies will be borne by CONSULTANT.
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4. PAYMENTS. CONSULTANT understands and acknowledges that the only funds
paid by CITY to CONSULTANT pursuant this Agreement will be from a
Developer/Applicant-reimbursement account. For CITY to pay CONSULTANT as
specified by this Agreement, CONSULTANT must submit a detailed invoice to CITY that
lists the hours worked and hourly rates for each personnel category and reimbursable
costs (all as set forth in Exhibit B) the tasks performed, the percentage of the task
completed during the billing period, the cumulative percentage completed for each task,
the total cost of that work during the preceding billing month and a cumulative cash flow
curve showing projected and actual expenditures versus time to date. If the CITY agrees
with all of the information listed in the invoice, CITY will then pay CONSULTANT from the
Developer/Applicant account created for the project. In the event that the Developer /
Applicant account does not have sufficient funds for payment of CONSULTANT's
services, CITY will notify CONSULTANT in writing to suspend any further work under this
Agreement until the account is replenished by the Developer/Applicant. The CITY is not
responsible to pay the cost of any of CONSULTANT's services after the date of such
written notice, unless and until the Developer/Applicant account is replenished by the
Developer/Applicant with sufficient funds. This Agreement will cover only those costs
incurred for which Developer / Applicant funds are available.
The rates set forth in Exhibit "B" may be adjusted annually to reflect CONSULTANT's
standard billable rates and charges. Such rate adjustments must be approved by both
parties pursuant to written amendment to this Agreement.
5. POLITICAL REFORM ACT. CONSULTANT and CITY acknowledge and agree
that CONSULTANT will provide real estate and economic advisory services on a limited
number of projects for the CITY, and that CONSULTANT will not provide any duties that
would otherwise be performed by an individual holding a position specified on the CITY's
Conflict of Interest Code. In addition, CONSULTANT will not perform any of the actions
listed in Title 2, California Code of Regulations Section 18700.3(a)(1). For these reasons,
CONSULTANT will not be considered a "consultant" subject to the CITY's Conflict of
Interest Code for purposes of this Agreement. In the event, however, that the nature of
CONSULTANT's services become regular and the same or substantially the same as
duties which would otherwise be performed by an individual holding a position specified
in the CITY's Conflict of Interest Code, CITY may designate CONSULTANT as a
"consultant" subject to the CITY's Conflict of Interest Code.
CONSULTANT agrees and warrants that it has no financial interests which may be
materially affected by the project(s) for which it is performing services. Such financial
interests may include, without limitation, interests in business entities, real property, or
sources of income exceeding $500 received within the past year. CONSULTANT further
warrants that, before executing this Agreement, it reviewed the Political Reform Act of
1974 and the Fair Political Practices Commission regulations, including, without limitation,
Chapter 7 of Title 2 of the California Code of Regulations, Section 18700, et seq., in order
to determine whether any conflict of interest would require CONSULTANT to refrain from
performing the services or in any way attempting to use its official position to influence
the governmental decisions underlying the subject project(s).
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6. FAMILIARITY WITH WORK.
A. By executing this Agreement, CONSULTANT agrees that it has:
Carefully investigated and considered the scope of services to be
performed;
ii. Carefully considered how the services should be performed; and
iii. Understands the facilities, difficulties, and restrictions attending
performance of the services under this Agreement.
B, If services involve work upon any site, CONSULTANT agrees that
CONSULTANT has or will investigate the site and is or will be fully
acquainted with the conditions there existing, before commencing the
services hereunder. Should CONSULTANT discover any latent or unknown
conditions that may materially affect the performance of the services,
CONSULTANT will immediately inform CITY of such fact and will not
proceed except at CONSULTANT's own risk until written instructions are
received from CITY.
KEY PERSONNEL.
CONSULTANT's key personnel assigned to perform work under this Agreement
and their level of responsibility are as follows but is not limited to:
Larry J. Kosmont, Chairman & CEO
Ken K. Hitra, Pesident
Felicia Williams, Senior Vice President
Tom Jirovsky, Senior Vice President
Fernando Sanchez, Vice President
Steve Masura, Senior Advisor
Robert Valenti, Senior Project Analyst
The resume of each of the individuals identified in this Section are attached to this
Agreement, collectively, as Exhibit "D," and incorporated by reference.
In the event CITY objects to the continued involvement with this Agreement by any
of the persons listed in this Section, or any other person selected by
CONSULTANT to perform services under this AGREEMENT,
CONSULTANT agrees that it will replace such persons with individuals that
are agreed to by CITY.
8. TERM. The term of this Agreement will start on the Effective Date and end on
December 31, 2024. Unless otherwise determined by written amendment between the
parties, this Agreement will terminate in the following instances:
A. Completion of the work specified in Exhibit "A";
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B. Termination as stated in Section 15.
9. TIME FOR PERFORMANCE.
A. CONSULTANT will not perform any work under this Agreement until:
CONSULTANT furnishes proof of insurance as required under
Section 22 of this Agreement; and
CITY gives CONSULTANT a written notice to proceed.
B. Should CONSULTANT begin work on any phase in advance of receiving
written authorization to proceed, any such professional services are at
CONSULTANT's own risk.
10. CONSISTENCY. In interpreting this Agreement and resolving any ambiguities, the
main body of this Agreement takes precedence over the attached Exhibits; this
Agreement supersedes any conflicting provisions. Any inconsistency between the
Exhibits will be resolved in the order in which the Exhibits appear below:
Exhibit A: Scope of Work.
Exhibit B: Budget
Exhibit C: Resumes
11. CHANGES. CITY may order changes in the services within the general scope of
this Agreement, consisting of additions, deletions, or other revisions, and the contract
sum and the contract time will be adjusted accordingly. All such changes must be
authorized in writing, executed by CONSULTANT and CITY. The cost or credit to CITY
resulting from changes in the services will be determined in accordance with written
agreement between the parties.
12. TAXPAYER IDENTIFICATION NUMBER. CONSULTANT will provide CITY with
a Taxpayer Identification Number.
13. PERMITS AND LICENSES. CONSULTANT, at its sole expense, will obtain and
maintain during the term of this Agreement, all necessary permits, licenses, and
certificates that may be required in connection with the performance of services under
this Agreement.
14. WAIVER. CITY's review or acceptance of, or payment for, work product prepared
by CONSULTANT under this Agreement will not be construed to operate as a waiver of
any rights CITY may have under this Agreement or of any cause of action arising from
CONSULTANT's performance. A waiver by CITY of any breach of any term, covenant, or
condition contained in this Agreement will not be deemed to be a waiver of any
subsequent breach of the same or any other term, covenant, or condition contained in
this Agreement, whether of the same or different character.
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15. TERMINATION,
A. Except as otherwise provided, CITY may terminate this Agreement at any
time with or without cause.
B. CONSULTANT may terminate this Agreement at any time with CITY's
mutual consent. Notice will be in writing at least thirty (30) days before the
effective termination date.
C, Upon receiving a termination notice, CONSULTANT will immediately cease
performance under this Agreement unless otherwise provided in the
termination notice. Except as otherwise provided in the termination notice,
any additional work performed by CONSULTANT after receiving a
termination notice will be performed at CONSULTANT's own cost; CITY will
not be obligated to compensate CONSULTANT for such work.
D. Should termination occur, all finished or unfinished documents, data,
studies, surveys, drawings, maps, reports and other materials prepared by
CONSULTANT will, at CITY's option, become CITY's property, and
CONSULTANT will receive just and equitable compensation for any work
satisfactorily completed up to the effective date of notice of termination, not
to exceed the total costs under Section 1(C).
E. Should the Agreement be terminated pursuant to this Section, CITY may
procure on its own terms services similar to those terminated.
F. By executing this document, CONSULTANT waives any and all claims for
damages that might otherwise arise from CITY's termination under this
Section.
16. OWNERSHIP OF DOCUMENTS. All documents, data, studies, drawings, maps,
models, photographs and reports prepared by CONSULTANT under this Agreement are
CITY's property. CONSULTANT may retain copies of said documents and materials as
desired but will deliver all original materials to CITY upon CITY's written notice. CITY
agrees that use of CONSULTANT's completed work product, for purposes other than
identified in this Agreement, or use of incomplete work product, is at CITY's own risk.
17. PUBLICATION OF DOCUMENTS. Except as necessary for performance of
service under this Agreement, no copies, sketches, or graphs of materials, including
graphic artwork, prepared pursuant to this Agreement, will be released by CONSULTANT
to any other person or public CITY without CITY's prior written approval. All press
releases, including graphic display information to be published in newspapers or
magazines, will be approved and distributed solely by CITY, unless otherwise provided
by written agreement between the parties.
18. INDEMNIFICATION.
A. CONSULTANT agrees to the following:
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Indemnification for Professional Services. CONSULTANT will save
harmless and indemnify and at CITY's request reimburse defense
costs for CITY and all its officers, volunteers, employees and
representatives from and against any and all suits, actions, or claims,
of any character whatever, brought for, or on account of, any injuries
or damages sustained by any person or property resulting or arising
from any negligent or wrongful act, error or omission by
CONSULTANT or any of CONSULTANT's officers, agents,
employees, or representatives, in the performance of this
Agreement, except for such loss or damage arising from CITY's sole
negligence or willful misconduct.
Indemnification for other Damages. CONSULTANT indemnifies and
holds CITY harmless from and against any claim, action, damages,
costs (including, without limitation, attorney's fees), injuries, or
liability, arising out of this Agreement, or its performance, except for
such loss or damage arising from CITY's sole negligence or willful
misconduct. Should CITY be named in any suit, or should any claim
be brought against it by suit or otherwise, whether the same be
groundless or not, arising out of this Agreement, or its performance,
CONSULTANT will defend CITY (at CITY's request and with counsel
satisfactory to CITY) and will indemnify CITY for any judgment
rendered against it or any sums paid out in settlement or otherwise.
B. For purposes of this section "CITY" includes CITY's officers, officials,
employees, agents, representatives, and certified volunteers.
C. It is expressly understood and agreed that the foregoing provisions will
survive termination of this Agreement for claims and lawsuits filed within two
years following the expiration of this Agreement.
D. The requirements as to the types and limits of insurance coverage to be
maintained by CONSULTANT as required by Section 22, and any approval
of said insurance by CITY, are not intended to and will not in any manner
limit or qualify the liabilities and obligations otherwise assumed by
CONSULTANT pursuant to this Agreement, including, without limitation, to
the provisions concerning indemnification.
19. ASSIGNABILITY. This Agreement is for CONSULTANT's professional services.
CONSULTANT's attempts to assign the benefits or burdens of this Agreement without
CITY's written approval are prohibited and will be null and void.
20. INDEPENDENT CONTRACTOR. CITY and CONSULTANT agree that
CONSULTANT will act as an independent contractor and will have control of all work and
the manner in which it is performed. CONSULTANT will be free to contract for similar
service to be performed for other employers while under contract with CITY.
CONSULTANT is not an agent or employee of CITY and is not entitled to participate in
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any pension plan, insurance, bonus or similar benefits CITY provides for its employees.
Any provision in this Agreement that may appear to give CITY the right to direct
CONSULTANT as to the details of doing the work or to exercise a measure of control
over the work means that CONSULTANT will follow the direction of the CITY as to end
results of the work only.
21. AUDIT OF RECORDS. CONSULTANT will maintain full and accurate records with
respect to all services and matters covered under this Agreement. CITY will have free
access at all reasonable times to such records, and the right to examine and audit the
same and to make transcript therefrom, and to inspect all program data, documents,
proceedings and activities. CONSULTANT will retain such financial and program service
records for at least 3 years after termination or final payment under this Agreement.
22. INSURANCE.
A. Before commencing performance under this Agreement, and at all other
times this Agreement is effective, CONSULTANT will procure and maintain
the following types of insurance with coverage limits complying, at a
minimum, with the limits set forth below:
Tvoe of Insurance
Commercial general liability:
Professional Liability
Business automobile liability
Workers compensation
Limits
$2,000,000 (aggregate)
$1,000,000
$1,000,000 (hired and non -
owned)
Statutory requirement
B. Commercial general liability insurance will meet or exceed the requirements
of the most recent ISO -CGL Form. The amount of insurance set forth above
will be a combined single limit per occurrence for bodily injury, personal
injury, and property damage for the policy coverage. Liability policies will be
endorsed to name CITY, its officials, and employees as "additional
insureds" under said insurance coverage and to state that such insurance
will be deemed "primary" such that any other insurance that may be carried
by CITY will be excess thereto. Such endorsement must be reflected on
ISO Form No. CG 20 10 11 85 or 88, or equivalent. Such insurance will be
on an "occurrence," not a "claims made," basis and will not be cancelable
or subject to reduction except upon 30 days prior written notice to CITY.
C. Professional liability coverage will be on an `occurrence basis" if such
coverage is available, or on a "claims made" basis if not available. When
coverage is provided on a "claims made basis," CONSULTANT will continue
to renew the insurance for a period of 3 years after this Agreement expires
or is terminated. Such insurance will have the same coverage and limits as
the policy that was in effect during the term of this Agreement and will cover
CONSULTANT for all claims made by CITY arising out of any errors or
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omissions of CONSULTANT, or its officers, employees or agents during the
time this Agreement was in effect.
D. Automobile coverage will be written on ISO Business Auto Coverage Form
CA 00 01 06 92, including symbol 1 (Any Auto).
E. CONSULTANT will furnish to CITY duly authenticated Certificates of
Insurance evidencing maintenance of the insurance required under this
Agreement and such other evidence of insurance or copies of policies as
may be reasonably required by CITY from time to time. Insurance must be
placed with insurers with a current A.M. Best Company Rating equivalent
to at least a Rating of "A:VII."
F. Should CONSULTANT, for any reason, fail to obtain and maintain the
insurance required by this Agreement, CITY may obtain such coverage at
CONSULTANT's expense and deduct the cost of such insurance from
payments due to CONSULTANT under this Agreement or terminate
pursuant to Section 05.
23. USE OF SUBCONTRACTORS. CONSULTANT must obtain CITY's prior written
approval to use any sub -consultants while performing any portion of this Agreement. Such
approval must approve of the proposed consultant and the terms of compensation.
24. NOTICES. All communications to either party by the other party will be deemed
made when received by such party at its respective name and address as follows:
CITY:
EI Segundo Planning & Building Safety Dept
350 Main Street
EI Segundo, CA 90245-3813
Attention: Gregg McClain, Planning Manager
Phone: 310-524-2393
gmcclain@elsegundo.org
CONSULTANT:
Kosmont Companies.
1601 N. Sepulveda Blvd., #382
Manhattan Beach, CA 90266
Attention: Larry J. Kosmont, CEO
Phone: 424-297-1070
Ikosmont@kosmont.com
Any such written communications by mail will be conclusively deemed to have been
received by the addressee upon deposit thereof in the United States Mail, postage
prepaid and properly addressed as noted above. In all other instances, notices will be
deemed given at the time of actual delivery. Changes may be made in the names or
addresses of persons to whom notices are to be given by giving notice in the manner
prescribed in this paragraph.
25. CONFLICT OF INTEREST. CONSULTANT will comply with all conflict of interest
laws and regulations including, without limitation, CITY's conflict of interest regulations.
26. SOLICITATION. CONSULTANT maintains and warrants that it has not employed
nor retained any company or person, other than CONSULTANT's bona fide employee, to
solicit or secure this Agreement. Further, CONSULTANT warrants that it has not paid nor
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has it agreed to pay any company or person, other than CONSULTANT's bona fide
employee, any fee, commission, percentage, brokerage fee, gift or other consideration
contingent upon or resulting from the award or making of this Agreement. Should
CONSULTANT breach or violate this warranty, CITY may rescind this Agreement without
liability.
27. THIRD PARTY BENEFICIARIES. This Agreement and every provision herein is
generally for the exclusive benefit of CONSULTANT and CITY and not for the benefit of
any other party. There will be no incidental or other beneficiaries of any of
CONSULTANT's or CITY's obligations under this Agreement.
28. INTERPRETATION. This Agreement was drafted in and will be construed in
accordance with the laws of the State of California, and exclusive venue for any action
involving this agreement will be in Los Angeles County.
29. COMPLIANCE WITH LAW. CONSULTANT agrees to comply with all federal,
state, and local laws applicable to this Agreement.
30. ENTIRE AGREEMENT. This Agreement, and its Exhibit(s), sets forth the entire
understanding of the parties. There are no other understandings, terms or other
agreements expressed or implied, oral or written. This Agreement will bind and inure to
the benefit of the parties to this Agreement and any subsequent successors and assigns.
31. RULES OF CONSTRUCTION. Each Party had the opportunity to independently
review this Agreement with legal counsel. Accordingly, this Agreement will be construed
simply, as a whole, and in accordance with its fair meaning; it will not be interpreted strictly
for or against either Party.
32. SEVERABILITY. If any portion of this Agreement is declared by a court of
competent jurisdiction to be invalid or unenforceable, then such portion will be deemed
modified to the extent necessary in the opinion of the court to render such portion
enforceable and, as so modified, such portion and the balance of this Agreement will
continue in full force and effect.
33. AUTHORITY/MODIFICATION. The Parties represent and warrant that all
necessary action has been taken by the Parties to authorize the undersigned to execute
this Agreement and to engage in the actions described herein. This Agreement may be
modified by written amendment.
34. ACCEPTANCE OF ELECTRONIC SIGNATURES. The Parties agree that this
Agreement, agreements ancillary to this Agreement, and related documents to be entered
into in connection with this Agreement will be considered signed when the signature of a
party is delivered by electronic (.pdf) or facsimile transmission. Such electronic or
facsimile signature will be treated in all respects as having the same effect as an original
signature.
35. CAPTIONS. The captions of the paragraphs of this Agreement are for convenience
of reference only and will not affect the interpretation of this Agreement.
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36. TIME IS OF ESSENCE. Time is of the essence for each and every provision of
this Agreement.
37. FORCE MAJEURE. Should performance of this Agreement be prevented due to
fire, flood, explosion, acts of terrorism, war, embargo, government action, civil or military
authority, the natural elements, or other similar causes beyond the Parties' reasonable
control, then the Agreement will immediately terminate without obligation of either party
to the other.
38. STATEMENT OF EXPERIENCE. By executing this Agreement, CONSULTANT
represents that it has demonstrated trustworthiness and possesses the quality, fitness
and capacity to perform the Agreement in a manner satisfactory to CITY. CONSULTANT
represents that its financial resources, surety and insurance experience, service
experience, completion ability, personnel, current workload, experience in dealing with
private consultants, and experience in dealing with public agencies all suggest that
CONSULTANT is capable of performing the proposed contract and has a demonstrated
capacity to deal fairly and effectively with and to satisfy a public CITY.
[Signatures on next page]
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Agreement No. 5766
IN WITNESS WHEREOF the parties hereto have executed this Agreement the day
and year first hereinabove written.
CITY OF EL SEGUNDO KOSMONT & ASSOCIATES, INC.
(doing business as KOSMONT
COMPANIES)
cott Mitnick, Larry J. Kosmont
City Manager Chairman & CEO
ATTEST:
Tracy Weaver,
City Clerk
APPROVED AS TO FORM:
Mark D. Hensley,
City Attorney
0
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Agreement No. 5766
EXHIBIT A
Scope of Work
Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
BACKGROUND
The City of EI Segundo has received several development proposals for the Smoky Hollow Specific Plan area that are
seeking relief from development standards (FAR and height limits) in exchange for community benefit packages as
allowed in the Specific Plan. Kosmont has extensive experience working development projects in EI Segundo.
Past economic work in the City of EI Segundo includes the Los Angeles Lakers gross fiscal impact and economic
benefits analysis for the proposed headquarters, Raytheon/Mar Ventures fiscal impact and economic impact analysis
for the proposed South Campus redevelopment, and a fiscal benefit analysis for Plaza EI Segundo (Federal Realty).
SCOPE
Kosmont envisions the following Scope of Work to assist the City. It is important to note that valuing the requested
variance and identified community benefits can be challenging without a detailed understanding of the proposed
leasing plan, construction cost estimates for each component of the Project.
Task 1: Project Orientation
Kosmont will review the Smoky Hollow Specific Plan relative to Tier 1 and Tier 2 Review. Kosmont will thoroughly
review the development proposal, floor plan and building design and financial pro forma (assume it will be available).
Kosmont will also meet with City staff to understand the City's perspective on various development components to
confirm which are to be considered community benefits as opposed to standard development requirements. For
example:
• Landscape street and walkways (A community benefit or standard project requirement?
• Striking architectural design (do we compare construction cost premium vs. a stucco building fagade?)
• Neighborhood appropriate design (is not this a standard requirement?)
• Rooftop amenities (seems to be a public benefit — rather a private benefit)
• Slurry coat the alley to Franklin Ave (maybe some public benefit and some part normal maintenance
requirement)
• 12 outdoor dining seats serving small cafe (part private benefit and part public?)
• Pedestrian connection to alley (Is this a benefit??)
Task 2: Value Add Analysis
Kosmont will do high level market analysis to establish baseline assumptions for financial pro forma model that
Kosmont will develop that will analyze stabilized value of baseline and proposed Project development scenarios, to
understand impact of City requests on residual land value / developer profit.
For example, a proposed 10,000 SF increase in building area would require an analysis of the marginal increase in
supportable investment value, less the marginal costs of construction.
Task 3: Community Benefit Value Analysis
Kosmont will review proposed Project with City staff to confirm project elements that are eligible as a community
benefit. Kosmont will then do high level analysis to estimate the value of those, based on developer pro forma,
interview with independent construction contractors or City building department staff assistance.
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
k Ion www.kosmont.com
Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
Task 4: Fiscal/Economic Analysis
Kosmont will analyze the proposed project to estimate construction period jobs, as well as stabilized operation jobs
and labor income, and General Fund tax revenues (i.e. property tax, sales tax, business taxes, etc.). In order to
quantify the value of economic benefits for comparison to the building value add, Kosmont will use a discounted cash
flow approach assuming a 20-30 year useful life.
Task 5: Report
Kosmont will prepare a draft summary memorandum outlining our analysis and value conclusions. Kosmont will be
available to discuss the findings and make necessary adjustments.
BUDGET & TIMELINE
Based on the information provided, Kosmont estimates the typical cost for the economic analyses to be $7,000 to
$11,000 per project, based on our standard public agency billing rates found on the following page. A draft report
can be completed within three weeks assuming all relevant information is provided. Because there is significant
upfront time required to apply project relevant local market conditions, understand the City's intended application of
Specific Plan community benefit rules as well as selection of appropriate and defensible valuation methodologies,
Kosmont believes the fee for the first two Projects may be in the higher end of the range.
DISCLOSURES
Past economic work in the City of EI Segundo includes the Los Angeles Lakers gross fiscal impact and economic
benefits analysis for the proposed headquarters, Raytheon/Mar Ventures fiscal impact and economic impact analysis
for the proposed South Campus redevelopment, and a fiscal benefit analysis for Plaza EI Segundo (Federal Realty).
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
www.kosmont.com
ko mon
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Agreement No. 5766
EXHIBIT B
Budget
HOURLY FEE SCHEDULE
Professional Services
Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
Chairman & CEO
$375.00/hour
President
$345.00/hour
Senior Vice President/Senior Advisor
$305.00/hour
Vice President
$210.00/hour
Senior Project Analyst
$195.00/hour
Project Analyst/Project Research
$165.00/hour
Assistant Project Analyst/Assistant Project Manager
$125.00/hour
GIS Mapping/Graphics Service
$ 95.00/hour
Clerical Support
$ 60.00/hour
• Additional Expenses
In addition to professional services (labor fees):
1) An administrative fee for in-house copy, fax, phone and postage costs will be charged, which will be
computed at four percent (4.0 %) of monthly Kosmont Companies professional service fees incurred; plus
2) Out-of-pocket expenditures, such as travel and mileage, professional printing, and delivery charges for
messenger and overnight packages will be charged at cost.
3) If Kosmont retains Third Party Vendors) for Client (with Client's advance approval), fees and cost will be
billed to Client at 1.1X (times) fees and costs.
4) Consultant's attendance or participation at any public meeting requested by Client will be billed at the
professional services (hourly) fees as shown on this rate sheet.
• Comes for Court/Deposition/Expert' i► Vitness-Related Appearances
Court -related (non -preparation) activities, such as court appearances, depositions, mediation, arbitration,
dispute resolution and other expert witness activities, will be charged at a court rate of 1.5 times
scheduled rates, with a 4 -hour minimum.
Rates shall remain in effect until December 31, 2019.
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
wwwAosmont.com
os .
Agreement No. 5766
EXHIBIT C
Resumes
Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
iMr. Larry J. Kosmont, CRE® is Chairman and CEO of Kosmont Companies,
which he founded in 1986. Kosmont Companies is an industry leader in
public/private real estate transactions and economic development. In 1990, he
founded Kosmont Realty, a real estate brokerage firm. In 2015, he launched
�'"^'' Kosmont Transactions Services which sources financing for public/private
��4 projects, P3 initiatives, and infrastructure funding. He is a co -principal,
California Golden Fund, a USCIS approved EB -5 Regional Center.
Mr. Kosmont's 40 -year career encompasses public/private financial structuring, negotiation,
development, and management of real estate and public finance transactions exceeding $12B. He
has assisted hundreds of local government agencies in public finance and real estate matters
ranging from large-scale economic development programs to site-specific real estate strategies
and projects. He has guided over 1,000 private sector projects in obtaining public approvals,
structuring deal terms, and securing public/private financing.
I Mr. Kosmont served as Interim City Administrator for the City of Montebello, CA from May 2011 to March 2012
which focused on a significant financial turnaround strategy and redevelopment dissolution. From 1975 to 1986, Mr.
Kosmont served as a City Manager, Director of Community Development, and Redevelopment Director in the cities of
Santa Monica, Seal Beach, Bell Gardens, and Burbank.
LICENSES/AFFILIATIONS: Mr. Kosmont is a Municipal Advisor Representative having achieved the MSRB Series 50
professional qualification, and is duly registered with the U.S. Securities and Exchange Commission. Mr. Kosmont is a
licensed real estate broker in California (DRE No. 01182660), a designated Counselor of Real Estate, CRE®, and has
served on or is serving on:
• City of Manhattan Beach Economic Dev. Advisory Council — Chairman
• MWD Board (represented City of L.A.)
• State Commissioner— CA Economic Dev. Commission
• USC Exec. Education — Board of Directors
• L.A. City Commissioner - Industrial Development Authority
• CA Assoc. of Local Economic Dev. (CALED) — Board Advisor
• Los Angeles Business Federation (BIZFED) - Board Member
EDUCATION: Mr. Kosmont holds a Masters of Public Administration Degree from USC and a B.A. in Political Science
from the State University of New York — Binghamton.
AWARDS: Mr. Kosmont is the recipient of the 2016 California Business Properties Association (CBPA) Champion of
the Industry Award for his service in real estate and economic development, and the John H. Nail Award from the
League of California Cities. Kosmont Companies is the recipient of the California Association for Local Economic
Development (CALED) 2017 Award of Excellence for Economic Development Partnerships — Redondo Beach Marine
Ave Hotels Project and the CALED 2015 Award of Excellence - South Gate azalea Retail Center Project.
4
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
www.kosmont.com
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Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
Mr. Ken K. Hira serves as President for Kosmont Companies. An expert in
real estate and economic development, Mr. Hira brings over 25 years of varied
experience in virtually every aspect of acquisition, entitlement, development,
financing, asset management, disposition, downtown revitalization, and
strategic plans. His strengths include a keen understanding of retail trends,
business retention/attraction, negotiating public-private transactions and
implementing blended -use projects that revitalize communities and assist in
economic development/tax generation programs.
A former Executive Vice President of the Irvine -based developer, Pacific Century Commercial,
Mr. Hira managed a portfolio of over $100 million of retail sites, while operating the commercial
division of the company. Prior to this, as a Managing Director of Acquisitions for Westrust and a
Vice President of Development at Lewis Retail Centers, he evaluated and underwrote hundreds of
acres of land, successfully captured and negotiated anchor tenant commitments creating $60
million of value in ground -up development and redevelopment, and was responsible for 800,000
square feet of retail entitlement, design and development. As Vice President of GMS Realty, Mr.
Hira entitled one million square feet of retail development projects, as well as led the acquisition
of 24 neighborhood and community shopping centers, totaling 3.3 million square feet and valued
at $375 million, and organized a $287 million recapitalization.
LICE NSES/'AFF1 LI'ATIONS:
Mr. Hira is an active volunteer leader of the International Council of Shopping Centers. He was nominated and serves
as the Co -Chair of the ICSC P3 Retail Advisory Board, nationally advocating public-private partnerships, while
previously serving as the ICSC Western Division P3 Retail Co -Chair, Southern California State Director, Program
Committee Chair and Alliance Co -Chair.
EDUCATION:
Mr. Hira holds a Bachelor degree in Economics and Business from UCLA.
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
www.kosmont.com
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Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
IF Ms. Felicia Williams is a Senior Vice President at Kosmont Companies and
assists municipal clients with a comprehensive approach to economic
development and climate action, in addition to identifying funding sources for
key projects. She has a background in public finance, economic development,
and sustainability. Most recently she worked for PFM Financial Advisors LLC
helping local governments finance environmental projects. Her prior experience
includes originating PACE loans at CleanFund Commercial PACE Capital;
corporate finance at Edison International / Southern California Edison; fixed
income investment banking at RBC Capital Markets, First Albany Capital, and
Goldman Sachs; and real estate / economic development consulting at Kosmont
Companies.
Specifically for Kosmont clients, Ms. Williams provides financial feasibility analysis for various types of
infrastructure and tax increment financing districts, fiscal impact analysis, Specific / General Plan land use
analysis, and Climate Action Plan implementation and project financing.
LICE NSES/AFALIATIO�NS:
Ms. Williams is a Municipal Advisor Representative having achieved the MSRB Series 50 professional qualification, and
is duly registered with the U.S. Securities and Exchange Commission.
EDUCATION:
Ms. Williams received her M.B.A. in Finance from the University of Michigan Ross School of Business, her M.A. in
Urban Planning from UCLA, and her B.A. in Public Policy from Stanford University.
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
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www.kosmont.com
Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
IF Mr. Thomas Jirovsky is a Senior Advisor with Kosmont Companies providing
real estate development feasibility, fiscal and economic impact, and asset
management to public agencies, land owners and developers. He is a former
Senior Managing Director with CBRE, and headed their national land use and
economic consulting practice. Prior to joining CBRE in 2000, he was CFO and
principal with Kotin, Regan & Mouchly, Inc.
Throughout his 30 -year career he has specialized in the areas of market and financial
feasibility analysis with particular emphasis on master planned communities, economic
development, land secured financing strategies, asset management, and public/private joint
ventures for small urban infill projects to large residential/commercial projects.
IF While at CBRE he developed a fiscal impact model for the City of EI Segundo to help in evaluating
changes to General Plan land use. He has managed fiscal and economic impact studies for Disneyland's 50th
anniversary, as well as a fiscal impact study for the Disney's California Adventure expansion and the
redevelopment of the Grand Central Business Center in Glendale.
He has extensive experience in transit oriented development, having worked for the past 15 years on numerous joint
development projects for the Metro Red Line and Blue Line, the San Francisco BART system and the Honolulu High
Capacity Transit Corridor projects.
He specializes in financial feasibility analysis for high-rise residential, hotel and mixed-use projects in downtown Los
Angeles. He has assisted a wide range public agencies throughout California in evaluating recreational, commercial,
and residential development projects, tax increment and infrastructure financing and in the negotiation of
development agreements for reuse plans for MCAS EI Toro, Hunter's Point Naval Shipyard and Concord Naval
Weapons Station.
LICENSE'S/AFFILIATIONS: Mr. Jirovsky is a LEED Accredited Professional and a member of the International Council of
Shopping Centers (ICSC) and Urban Land Institute (ULI).
EDUCATION: Mr. Jirovsky graduated with honors, receiving a B.S. in Architecture from the University of Southern
California and a MBA in Finance from the University of Southern California.
KOSMONT COMPANIES
!A 1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
www.kosmont.com
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Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
Mr. Steve Masura is a Senior Advisor with Kosmont Companies with diverse
public agency and consulting experience in economic development,
redevelopment, and planning. He has served in many capacities, including
Community Development Director and Assistant Executive Director, for
71r4lwuthern California cities and large redevelopment agencies.
Mr. Masura has been instrumental in successful project management of a
wide range of complex and award winning commercial, industrial, and
residential development and public facilities/infrastructure projects. His
continued success has been achieved through innovative public/private
transactions and finance, focus on sustainability, creative enabling planning and
land use policies, effective community engagement, and a unique ability to
bring together diverse interests for common purposes. He has been involved
with all aspects of development from feasibility and fiscal impact, RFPs, land
acquisition/assembly and disposition, development agreement structuring and
negotiations to entitlements, community meetings, and construction. Mr.
Masura has managed tax increment district formations, administration, and
bond financing.
LICENSES/AFFILIATIONS:
Mr. Masura is certified as an Economic Development Finance Professional by the National Development
Council/International Economic Development Council.
EDUCATION:
Mr. Masura holds a Master of Planning degree from the University of Southern California, a Master of Business
Administration degree from the College of William and Mary, and a Bachelor of Science degree in
Computer/Electrical Engineering from Lawrence Technological University.
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
www.kosmont.com
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Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
Companies
Mr. Fernando Sanchez is a Vice President with Kosmont Com
p
assisting public and private sector clients with market and economic analyses,
strategic planning, and real estate development advisory. His recent work
includes market supply and demand analysis, prioritization of strategic
opportunity sites for retail and future development, analysis of potential
development uses, and geospatial analysis of boundaries and funding and
financing feasibility studies of new infrastructure financing districts such as
Enhanced Infrastructure Financing Districts (EIFDs) and Community
Revitalization and Investment Authorities (CRIAs).
Prior to joining Kosmont Companies, Mr. Sanchez also worked as an Analyst for Entertainment and
Culture Advisors, a Los Angeles -based economic consulting firm specializing in the entertainment and
attractions industry. Other previous experience includes working as an Analyst and Project Manager for
JDT International Inc., a residential real estate developer in Philadelphia, and working as a
Transportation Planner with the City of Philadelphia Mayor's Office of Transportation and Utilities.
LICENSES/AFFILIATIONS:
Mr. Sanchez is a member of the American Planning Association and the Urban Land Institute. He also serves as the
Treasurer of the Princeton Club of Southern California.
EDUCATION:
Mr. Sanchez holds a Master of City Planning degree from the University of Pennsylvania, where he focused on public
and private real estate development. He also holds a Bachelor of Arts in Sociology with minors in Urban Studies,
Latin American Studies, and Spanish from Princeton University.
LANGUAGES:
Mr. Sanchez is fluent in English and Spanish.
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
www.kosmont.com
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Agreement No. 5766
CITY OF EL SEGUNDO
Real Estate/Economic Consulting Services
Mr. Robert Valenti is a Senior Project Analyst with Kosmont Companies,
supporting public and private sector clients with market and economic
analyses, strategic planning, and real estate development advisory. Prior to
joining Kosmont Companies, Mr. Valenti served as a principal economic and
policy analyst for Rhode Island's Office of Management and Budget. While
with OMB, Mr. Valenti was responsible for conducting economic and
regulatory impact analyses, managing analytic projects that cut across
multiple agencies, and providing strategic support for complex and sensitive
policy issues.
EDUCATION:
Mr. Valenti holds a Master of Public Policy degree from Brown University. He also holds a
Bachelor of Arts degree in political science from the College of the Holy Cross in Worcester, MA.
KOSMONT COMPANIES
1601 N. Sepulveda Blvd., #382 1 Manhattan Beach, CA 90266 1 424.297.1070
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www.kosmont.com
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