HomeMy WebLinkAboutRDA O3 PROP MGMNT SVCS 02-20-01AGENDA R ,P ORT
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RDA NO. 05
02-20-01
MEETING DATE'
TO'
'FROM'
SUBJECT:
FEBRUARY 20, 2001
WILLIAM A. HUSTON, EXECUTIVE DIRECTOR
REDEVELOPMENT AGENCY STAFF
APPROVAL OF AMENDMENT TO CONSULTING SERVICES AGREEMENT
FOR PROPERTY MANAGEMENT SERVICES
SUMMARY
Agency approval is requested for an amendment to the Consulting Services Agreement
with Preferred Real Estate Management, Inc. for property management of the Agency
owned properties located at 14741 and 14751 Newport Avenue.
RECOMMENDATION
Staff recommends the Redevelopment Agency take the following actions'
1. Authorize the Assistant City Manager to execute an amendment to the Agreement
extending the term of the Agreement for an additional one-year period.
FISCAL IMPACT
Payment to the consultant under the Agreement is made from the gross monthly
receipts from the properties and will .otherwise have no direct fiscal impact on the
Agency.
BACKGROUND/DISCUSSION
On February 7, 2000 the Agency entered into a Consulting Services Agreement with
Preferred Real Estate Management for property management of the Agency-owned
properties located at 14741 and 14751 Newport Avenue. The term of the Agreement
was for one year. The request amendment would provide an additional year under the
Agreement with all other provisions under the Agreement to remain unchanged.
Staff will be available at the Agency meeting to answer any questions the Agency may
havb..
Christine Shingleton
Assistant City Manager
¢g'mes D ra.~..g~o n
Senior Project Manager
Attachment
AMENDMENT NO. 1
TO THE AGREEMENT FOR CONSULTING SERVICES
DATED FEBRUARY 7, 2000, FOR PROPERTY
MANAGEMENT SERVICES AT 14721 AND 14751 NEWPORT AVENUE
This Amendment No. 1 is entered into by and between the Tustin Community
Redevelopment Agency, hereinafter referred to as "Agency", and Preferred Real Estate
Management, Inc., hereinafter referred to as "Consultant."
·
RECITALS
1. The Agency and Consultant previously entered into the Agreement for consulting
services for property management at 14741 and 14751 Newport Avenue, Tustin,
California, dated February 7, 2000 (the "Agreement").
2. The Agency and Consultant desire to amend the Agreement to authorize an
extension of the term of the Agreement.
NOW, THEREFORE, based on the promises and mutual covenants herein, the
parties agree as follows'
AGREEMENT
1. Section 3.4 of the Agreement is hereby amended to add'
Unless earlier terminated in accordance with Section 7.7 of the Agreement, services
provided for under the Agreement shall be extended to continue in full force and
effect for a period not exceeding one (1) year from the date of this Amendment No.
1, unless extended by mutual written agreement of the parties.
2. Except as amended herein, all other terms of the Agreement remain in full force and
effect and are not modified by this Amendment No. 1.
In Witness Whereof, the parties hereto have executed this Amendment No. 1 to be
effective as of February 7, 2001.
Dated'
"Agency"
Tustin Community Redevelopment Agency
By:
Christine Shingleton
Assistant City Manager
APPROVED AS TO FORM'
By'
Lois E. Jeffrey, City Attorney
"Consultant"
Preferred Real Estate Management, Inc.
By:
Nancy Schaaf, CPM