Loading...
HomeMy WebLinkAboutCVRC Reso 2007-003 CVRC RESOLUTION NO. 2007-003 RESOLUTION OF THE CHULA VISTA REDEVELOPMENT CORPORATION RECOMMENDING THE WAIVER OF THE FORMAL CONSULTANT SELECTION PROCESS AND THE APPROVAL OF THE FIRST AMENDMENT TO THE AGREEMENT WITH HARRELL & COMPANY ADVISORS, LLC., THE WAIVER OF THE FORMAL CONSULTANT SELECTION PROCESS AND THE APPROVAL OF THE SECOND AMENDMENT TO THE AGREEMENT WITH ECONOMIC AND PLANNING SYSTEMS, INC., AND THE WAIVER OF THE FORMAL CONSULTANT SELECTION PROCESS AND THE APPROVAL OF THE FIRST AMENDMENT TO THE AGREEMENT WITH STRADLING, YOCCA, CARLSON & RAUTH, AND RECOMMENDING THE APPROPRIATION OF THE NECESSARY FUNDS WHEREAS, the Redevelopment Agency of the City ofChula Vista (Agency) and Harrell & Company Advisors, LLC (Harrell) entered into an Agreement dated January 10, 2006 for financial consulting services related to the development of tax increment projections and cash flow plans that address the funding of economic development projects of the Agency and the City ofChula Vista (City); and WHEREAS, the Agency and Economic and Planning Systems, Inc. (EPS) entered into an Agreement dated June 28, 2005 (Original Agreement) where EPS agreed to provide independent economic advice in support of future dealings regarding economic and fiscal relationships among the San Diego Unified Port District (Port), prospective lessees of Port-controlled lands, private owners of property within the Bayfront Master Plan area, and the City; and WHEREAS, the City and EPS entered into the First Amendment to the Original Agreement dated January 10, 2006, where EPS agreed to develop a Fiscal Impact Model to analyze the fiscal impacts of new development within the Bayfront Master Plan area; and WHEREAS, the Agency and the City are in negotiations with Gaylord Entertainment Corporation (Gaylord) for the proposed development of a hotel and convention center in the Bayfront Redevelopment Project Area; and WHEREAS, the City and Stradling, Yocca, Carlson & Rauth (Attorneys) entered into a Legal Services Agreement dated May 12, 2006 for legal advise and assistance regarding the proposed development by Gaylord; and WHEREAS, to further the negotiations with Gaylord, staff recommends that Harrell develop tax increment projections and cash flow analysis that address the funding of the proposed Gaylord development, that EPS analyze the financial feasibility of the proposed Gaylord development using its Fiscal Impact Model and conduct a peer review on the Economic Research Associates fiscal model and pro forma, and that the Attorneys advise and assist the Agency and the City with more detailed and complex negotiations with Gaylord; and WHEREAS, staff recommends the Agency waive the formal consultant selection process outlined in Municipal Code section 2.56.110 because the proposed scopes of work for the CVRC Resolution No. 2007-003 Page 2 amendments to the agreements for Harrell, EPS, and Attorneys are a natural extension of their on-going work for the Agency and the City, making it impractical to solicit proposals. NOW THEREFORE, BE IT RESOLVED that the Chula Vista Redevelopment Corporation recommends the waiver of the formal consultant selection process and the approval of the First Amendment to the agreement with Harrell & Company Advisors, LLC., the waiver of the formal consultant selection process and the approval of the Second Amendment to the agreement with Economic and Planning Systems, Inc., and the waiver of the formal consultant selection process and the approval of the First Amendment to the agreement with Stradling, Y occa, Carlson & Rauth. BE IT FURTHER RESOLVED that the Chula Vista Redevelopment Corporation recommends the appropriation of the necessary funds. Prese ed by 01 - Mari Kachadoonan Finance Director Approved as to form by ~~~~\\ General Counsel PASSED, APPROVED, and ADOPTED by the Chula Vista Redevelopment Corporation of the City ofChula Vista, California, this 8th day of March 2007, by the following vote: AYES: Directors: McCann, Ramirez, Rindone, and Cox NAYS: Directors: None ABSENT: Directors: None ABSTAIN: Directors: Castaneda Cheryl CQ ,<,:0 \..A III S r. cF~ * E CVRC '"\ * \~6/15/2001 B ~ 00??oo<' & O,bME 1 CO~ I, Dana M. Smith, Secretary of the Chula Vista Redeve tion of the City of Chula Vista, California, do hereby certify that the foregoing CVR eso ution No. 2007-003 was duly passed, approved, and adopted by the Chula Vista Redevelopment Corporation at a regular meeting of the Chula Vista Redevelopment Corporation held on the 8th day of March 2007. C/Z14~!/( ~ Dana M. Smith, Secretary ~x STATE OF CALIFORNIA COUNTY OF SAN DIEGO CITY OF CHULA VISTA ) ) ) Executed this 8th day of March 2007.