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HomeMy WebLinkAboutCC 14 PETERS CYN S.P. 02-06-84CONSENT CALENDAR NO. 14 2-6-84 AGENOA Ill~: FIRST AIMENDI~NT TO JOINT STUDY AGREEMENT - PETERS CANYON SPECIFIC PLAN AND ERST llJSTIN SPECIFIC PLAN CONSULTING AGREEMENT: STANLEY R. NOFFNRN ASSOCIATES BACKGROUND: These agre~ents cover the substitution of Stanley R. Hoffman Associates in place of David Strong & Associates. RECOMME NDAT I ON: Authorize the Ma~or and City Clerk to execute subject agreements. DATE: 1/23/84 Inter-Corn FROH: SUBJECT: ~GHT, ASSOCIATE PLANNER jAMEs G. ROURKE, CITY ATTORNEY EAST TUSTIN SPECIFIC PLAN CONSULTING AGREEMENT: STANLEY R. HOFFMAN ASSOCIATES Enclosed is the original and two copies of the First Amendment to Joint Study Agreement, Peters Canyon'Specific Plan, which has been executed by The Irvine Company. This Amendment covers the substitution of Stanley R. Hoffman Associates in place of David Strong & Associates. Please have these executed on behalf of the City and return one executed copy to t~is office in order that we may furnish it to The Irvine Company. One of the other copies will be for your office and one should be given to Mary Wynn. JGR:se~D:l/24/84(67)' *2/6/84 Enclosures W. Huston D. Lamm M. Wynn DATE: /3 /84 lnte -Com TO: FROM: SUBJECT: ~,4~kRy WYNN, CITY CLERK JAMES G. ROURKE, CITY ATTORNEY EAST TUSTIN SPECIFIC PLAN: FISCAL CONSULTANT Enclosed are three copies of the agreement between the city and Stanley R. Hoffman Associates, Fiscal Consultant, each of which have been executed by Mr. Hoffman. Please have these executed on behalf of the City and return two copies to this office, the other copy being for the City's files. JGR:se:D:l/31/84(18) '2/14/84 Enclosure cc: E. Knight D. Lamm W. Huston FIRST AMENDMENT TO JOINT STUDY AGREEMENT PETERS CANYON SPECIFIC PLAN THIS FIRST AMENDMENT TO THE JOINT STUDY AGREEMENT, PETERS CANYON SPECIFIC PLAN is made and entered into as of , 198 , by and betwen the CITY OF TUSTIN, a municipal corporation within the County of Orange, State of California (the "City"), and THE IRVINE COMPANY, a Michigan corporation (the "Company"). RECITALS A. The City and the Company have entered into that certain Joint Study Agreement, Peters Canyon Specific Plan dated August 23, 1983 (the "AGreement") regarding the City's employment of certain consultants to assist in preparation of the Peters Canyon Specific Plan. B. Pursuant to Paragraph 3 of the AGreement, the City may discharge a consultant and a replacement consultant may be employed upon the written agreement of the City and the Company. C. The City has discharged Strong Associates and · David Strong and now wishes to employ Stanley Hoffman and Associates 'and Stanley Hoffman as consultants under the AGreement. D. The Company and the City wish to enter this Agreement to confirm the employment of Stanley Hoffman and Associates and Stanley Hoffman and to amend the Agreement in certain respects related to that employment. AGREEMENT NOW, THEREFORE, IN CONSIDERATION of the above recitals and the covenants and conditions contained herein, the City and the Company hereby agree as follows: 1. Employment of Replacement Consultant. Pursuant 'to Paragraph 3 of the AGreement, the parties hereto agree that Stanley Hoffman and Associates and Stanley Hoffman (the "Replace- ment Consultants") shall be employed by the City pursuant to that certain AGreement between the City and the Replacement Consultants which is attached hereto as Exhibit 1. The City and the Company acknowledge and agree that the Replacement Consultants shall be employed for the purpose of participatinG in the preparation of the Peters Canyon Specific Plan and such employment shall be subject to the conditions to employment of "Consultants" as provided in the AGreement as hereinafter amended. 2. Amendment of AGreement. The Agreement is hereby amended as follows: (a) Employment Agreement. Ail reference to Strong Associates and David Strong and to Exhibit "E" to the Agreement is hereby deleted and reference to Stanley Hoffman and Associates and Stanley Hoffman and to Exhibit 1 attached hereto are hereby inserted in replacement thereof as though fully set forth in the Agreement and incorporated therein by this reference. Exhibit 1 attached hereto shall be in the place and stead of Exhibit "E" attached to the Joint Study Agreement, Peters Canyon Specific Plan and shall become the new Exhibit "E" to the Joint Study Agreement, Peters Canyon Specific Plan. (b) Amendment of Reimbursement Schedule. The parties acknowledge that employment of the Replacement Consultants has caused an increase of $12,998 in the consulting fees to be reimbursed to City by the Company. To acknowledge such increase and to provide for reimbursement thereof, Paragraph 3 of the Agreement shall be amended to read, in its entirety, as follows: "3. Company shall reimburse City for all of the fees and costs of the planning services described in the Planning Agreements. Company shall deliver to City for deposit with the City Treasurer Two Hundred Fifty-Seven Thousand Nine Hundred Fifty-Six Dollars ($257,956.00) in monthly installments with the first installment to be paid forthwith upon execution of this Agreement bY both pa~ties and the subsequent installments to be paid to the City at thirty (30) day intervals there- after as follows: Payment No. Amount of Payment 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 $ 23,000.00 23,000.00 23,000.00 26,000.00 26,000.00 26,000.00 26,000.00 12.000.00 12,000.00 12,000.00 6,000.00 6,000.00 6,000.00 6,000.00 18,956.00 $257,956.00 City agrees that the total liability of the Company which may arise from this Agreement shall not exceed Two Hundred Fifty-Seven Thousand Nine Hundred Fifty-Six Dollars ($257,956.00). Company shall not be obligated to pay for any increase in the scope of planning services described in the Planning Agreements for the lands described in those agreements, unless the increase in the scope of work is approved by Company in writing, in 'advance. If City in its judgment determines that any one or more of the Consultants is not fulfilling its contractual obligations, City may take any and all actions it deems appropriate to insure performance by any of the Consultants, including discharge of any one or more of the Consultants. In the event that City in the exercise of its reasonable judgment determines that a Consultant may withhold payment to the Consultant and in such event City shall advise Company of such fact and the aforesaid payments to be.made by Company shall be deferred in an amount commensurate with the withheld payment or payments. The employment of any replacement Consultants shall be upon written agreement between City and Company." 3. Full Force and Effect. The parties acknowledge and agree that the Agreement, as hereby amended, remains in full force and efect in accordance with its terms. IN WITNESS W~EREOF, the parties hereto have executed this Agreement as of the date first above written. CITY OF TUSTIN, a municipal corporation ATTEST: By Mary Wynn, City Clerk APP~~RM: THE IRVINE COMPANY, a Michigan corporation By STATE OF CALIFORNIA ) ) ss. COUNTY OF ORANGE ) On this day of , 198 , before me, , the undersigned Notary Public, personally appeared RONALD HOESTEREY personally known to me, or proved to me on the basis of satisfactory evidence, to be the pereson who executed the within instrument as Mayor, and MARY WYNN personally known to me, or proved to me on the basis of satisfactory evidence, as City Clerk, on behalf of the City of Tustin, and acknowledged.to me that the City of Tustin executed it. WITNESS my hand and official seal. Notary Public in and for the State of California STATE OF CALIFORNIA ) ) ss. COUNTY OF ORANGE ) On this /~ day of ~' , 198~~, before me, ~g,~----~.~.{;~...~.~j~ ,, th~e~und.ersigned Notary Public, pers~ai~y appeared --~~3~~3 , personally known to me, or proved to me on the basis of satisfactory evidence, ~to be the person who executed the within instrument as ~/~~~ on behalf of The Irvine Company, a Michigan corporation, and acknowledged to me that said corporation executed it. WITNESS my hand and official seal. N~tary Public in and for the State of California JGR:cjs:D:12/29/83(45) · ~ OFFICIAL SEAL " JANEAN D, McCRUM '" ~.~¢ NOTARY PUBLIC · c,AL)FQRNIA q PRINCIPAL OFFicE IN ORANGE COUNTY MY COMMISSION EXPIRES OCT. lB, 1984 EXHIBIT 1 AGREEMENT EAST TUSTIN SPECIFIC PLAN FISCAL CONSULTANT THIS AGREEMENT is made and entered into this day of 1983, by and between CITY OF TUSTIN, a municipal corporation (hereinafter referred to as "City") and STANLEY R. HOFFMAN ASSOCIATES and STANLEY R. HOFFMAN, 11661 San Vicente Boulevard, suite 203, Los Angeles, California 90049 (hereinafter referred to as "Fiscal Consultant"). WI TNE S SETH WHEREAS, City desires to employ a consultant to furnish the necessary fiscal analysis for the development and preparation of the EAST TUSTIN SPECIFIC PLAN in City of Tustin, which shall hereinafter be referred to as the "Project", and WHEREAS, Fiscal Consultant has indicated its willingness to furnish said Project services to the City; and WHEREAS, Fiscal Consultant has submitted to City a proposal.dated February 22, 1983, and an amended proposal dated October 7, 1983, copies of which are attached hereto marked Exhibit "A" and are by this reference incorporated herein as though set forth in full hereat (the "Proposal"); and WHEREAS, Fiscal Consultant will retain Angus' McDonald & Associates as a' subconsultant for specified tasks delineated hereinafter; NOW, THEREFORE, City agrees to employ and does hereby employ Fiscal Consultant to provide fiscal analysis for the Project and City and Fiscal Consultant, for the consideration hereinafter set forth, agree as follows: A. Scope of Fiscal Co.eultant's' Services 1. Fiscal Consultant agrees to prepare and furnish City, following receipt of written authority to proceed, fiscal analysis for Project. These services shall include all of the services to be performed in the manner described in the proposal and shall include, but not be limited to, the following=. Task 1. Description of Alternative Development Plans Alternative plans for development of the specific plan area will be quantified in terms of variables required for estimation of City costs and revenues. Subtasks: 1.1. Specify staging of land uses'for each development alternative, including annual cumulative acreages of residential, commercial, industrial, public park and other uses. 1.2. Specify annual levels of population and housing by subarea for each alternative development plan. 1.3. Estimate annual numbers of commercial and industrial businesses and employees by subarea for each alternative development plan. 1.4. Specify staging of circulation improvements, including street lengths by type of street, length and type of medians and parkways, number of street trees and traffic signals. 1.5. Identify public facility infrastructure requirements, phasing and costs. Task i Product: o Description of alternative development plans in terms of variables affecting City costs and revenues Task 2. Development and Implementation of Methodology for Estimating City Public Service Requirements and Costs Data on existing land uses.and public infrastructure in the City of Tustin will be used as inputs for determining public service demands and associated costs. The analysis will utilize a combination of case study interviews and incremental and average costs measures. Incremental costs will be estimated whenever possible. Estimates of average costs will be based on current service standards, and historic trends. Also, cost sharing arrangements with the County of Orange, the City of Irvine, and special districts, for the provision of selected services will be examinad. Subtasks: 2.1, Identify range of City public services to be analyzed, including: 1. Public safety (police patrol and investigative services); 2. Public works (street maintenance, park maintenance, tree maintenance, building maintenance, refuse collection); 3. Community services (sports, classes, cultural arts, youth services, human services, senior citizen services); 4. Community development (planning and building); 5. Legislative, administrative and non-departmental services. 2.2. Through case study interviews, analysis of service standards and budgetary data, determine service levels required for each of the serviceS identified in subtask 2.1. 2.3. Through case study interviews, incremental and average cost estimates, determine per unit recurring costs for each of the service requirements identified in subtask 2.2. 2.4. Examine service requirements Of special districts and school districts resulting from alternative land use plans. Task 2 Products: o Methodology for determining City service requirements by type of service for a range of development alternatives o Methodology for converting City service requirements by type of service to recurring costs Task 3. Development and Implementation of Methodology for Estimating City Public Revenues Public revenue functions will be developed for land uses in Tustin. The revenue estimation techniques will simulate the manner in which individual revenue sources are actually generated in California, and the. way in which revenues are shared among jurisdictions. The methodology for estimating revenues will be dlosely coordinated with that of the cost estimates so that consistent estimates of balances for key City funds can be generated. Subtasks: 3.1. On the basis of property valuations, and allocations of property tax to jurisdictions, develop factors for projecting property taxes accruing to the City of Tustin. 3.2. Develop factors for estimating taxable sales generation for retial and other sales tax-generating land uses in Tustin. 3.3. Develop factors for estimating, on the basis of land uses, other recurring revenues, including business license tax, franchise fees and transient occupancy taxes. 3.4. Develop factors, for estimating, on the basis of population and/or land uses, other recurring revenues, including state subventions, federal grants and miscellaneous revenue sources. 3.5. Develop factors for estimating, on the basis of land uses, one- time fees and charges accruing to the City of Tustin. Task 3 Products= O .Report on methodology for projecting City public revenues from all sources o Report on fiscal and financial opportunities and constraints Task 4. Development of Fiscal Impact Model Methods, data and factors developed in tasks 2 and 3 will be used in development of a computer-based fiscal impact model (hereinafter referred to as "Model") for the City of Tustin. The Model will project recurring City costs and revenues resulting from alternative development plans for the East'Tustin Specific Plan Area. In addition, a series of reports will be developed to facilitate comparison of key revenue and cost variables between development alternatives. Subtasks: 4.1. Based on methods developed in tasks 2 and 3, develop Model for projecting recurring costs and revenues from alternative development plans for the East Tustin Specific Plan Area. 4.2. Design and implement a computer program for providing a series of reports for.comparing fiscal impacts of alternative development plans.. Reports will show key v&riables for each development alternative and will also present the differences in key variables between development alternatives. Key variables include: 1. Net cost/revenue streams; 2. Present value of net cost/revenue streams; and 3. Fiscal cost-effectiveness of alternative development plans in terms of tradeoffs between different land use types. 4.3. Evaluate the sensitivity of cost/revenue streams to development phasing, mix of land uses and service standards. 4.4. Prepare a user's manual for the fiscal impact Model and comparative analysis programs. Task 4 Products: Computerized Model for projecting and comparing recurring fiscal impacts to the City of Tustin from alternative development plans for the East Tustin Specific Plan Area o User's manual documenting the computer Model and its operation Task 5. Testing and Evaluation of Fiscal Impacts of Development Alternatives The fiscal impact Model and reporting programs from task 4 will be used to evaluate the alternative development plans for the East Tustin Specific Plan Area. The focus will be on identifying development plans which yield positive fiscal flows to the City. Subtasks: 5.1. Using the fiscal Model developed in task 4, determine the fiscal impacts of each development alternative in terms of recurring costs and revenues to the City of Tustin. 5.2. Using the evaluative indicators developed in task 4, prepare a comparative evaluation of the fiscal impacts of the development alternatives. 5.3. Document evaluation of each development alternative. Task 5 Product: o Report on fiscal evaluation of development alternatives Task 6. Testing and Evaluation of the Fiscal Impacts of the Specific Plan The fiscal impacts of the specific plan will be tested with the fiscal impact Model developed in task 4 according to the procedures developed in task 5. This task will also identify public service and fiscal issues which require mitigation. Subtasks: 6.1 Test the specific plan for fiscal impacts using the Model developed in task 4. 6.2. Evaluate the fiscal impacts of the specific plan using the computer program and indicators developed in task 4. 6.3. Identify public service and fiscal issues requiring mitigation. 6.4. Document the fiscal impacts and evaluation of the specific plan. Task 6 Product': o Report presenting and evaluating the fiscal impacts to the City of Tustin of the East Tustin Specific Plan Task 7. Coordination and Liason Necessary coordination and liason will be maintained with the City of Tustin staff, the Irvine Company staff, the project coordinator and other consultant teams. Special attention will be given in three tasks: ~ 1. In task ~, special coordination will' be required with the consultant teams preparing the land use and public facilities plans. 2. Results of the evaluation of alternative development plans, carried out in task 5, will be presented to the project coordinator, the City of Tustin staff and the Irvine Company staff. 3. Results of task 6, concerning fiscal impacts of the specific plan and public service and fiscal issues requiring mitigation, will be presented to the project coordinator, the City of Tustin staff and The Irvine Company staff. Task 8. Review .of Preferred Infrastructure Plan The preferred infrastructure plan will be reviewed and financing requirements for different components of required public facilities and infrastructure will be specified. Coordination will be maintained with the consultant team preparing the community facilities and infrastructure plan. Subtasks= 8.1. From the preferred infrastructure plan, derive phasing and costs of required public facilities. 8.2. Specify financing requirements for each public facility. Task 8 Products o Report showing phasing, costs and financing requirements for the preferred public facilities and infrastructure plan Task 9. Evaluation of Alternative Financing Methods Major financing alternatives will be evaluated in this task, including general fund financing, special benefit assessments, tax increment financing and formation of a Mello-Roos Community Facilities District. The evaluation will also review Tustin's existing financing practices and will identify leading candidates among techniques of financing for each of the major capital improvements. Emphasis will be placed on identifying the final burden of financing alternatives. Subtasks: 9.1. Compare the major elements of the proposed infrastructure plan, as evaluated in task 8, with the alternative financing techniques available. 9.2. Based on discussions with the City of Tustin and The Irvine Company representatives, as appropiate, identify financing techniques which should not be considered further. 9.3. Identify benefits and quantify financing burdens for each major capital improvement. Task 9 Products: o Report chapter on financial opportunities and constraints Task 10. Testing of Alternative Financing Mechanisms and Recommendation of Preferred Mechanisms Alternative sets of financing mechanisms and alternative ways to spread,the financial burden will be tested against criteria related to financial adequacy and equity. A test will also be made of the extent to.which apparently adequate plans will affect the profitability and feasibility of development in the East Tustin Specific Plan Area. Subtasks: 10.1. Test alternative sets of financing mechanisms and alternative ways to spread the finacial burden against the criteria of financial adequacy and equity. 10.2. Test the extent to which adequate financing plans will affect the profitability and feasibility of development in the area. 10.3. Recommend financing mechanisms preferred for implementation. Task 10 Product: A written evaluation, using specific land areas and types of developments, showing actual dollar results of different financing mechanisms over the development period. Comparative documentation in sufficient detail to allow choices and planning decisions to be be made. Recommendation of the financing mechanisms which, in the Fiscal Consultants' judgment, will most effectively service the East Tustin Specific Plan Area. '7 Task 11. Methodology for Establishing Recommended Financing Mechanisms This task will prepare a financing plan for the specific plan. The financing plan will be based on the evaluation and testing of alternative financing mechanisms in tasks 9 and 10. The financing plan will include methods for implementing financing mechanisms and will be tested for its ability to withstand future economic fluctuations. Finally, after a period of review and comment on the specific-plan, a final methodology for financing public infrastructure will be prepared. Sub=asks: 11.1. -Prepare a proposed financing plan for the specific plan, based on the evaluation and testing of financing mechanisms in tasks 9 and 10. 11.2. Specify methods for implementing financing mechanisms. 11.3. Test the financing plan for its ability to withstand economic fluctuations. 11.4. Modify the financing plan, as necessary, on the basis of public hearings on the specific plan. Task 11 Product= o A written plan for financing the public facilities and infrastructure requirements of the East Tustin Specific Plan Area. Task 12. Coordination and Liason Key coordination and liason efforts include: 1. Task 8 will require.inputs from the consultant team preparing the public facilities and infrastructure plan. 2. At the conclusion of task 9, meetings with representatives of the City and The Irvine Company will be required to identify funding mechanisms which should not be considered further. 3. At the conclusion of task 10, financing recommendations will be made to representatives of the City of Tustin, The Irvine C~upany and the project coordinator. 4. At the conclusion of task 11, the financing methodology will be presented to representatives of the City of Tustin, The Irvine Company and the project coordinator. 8 B. Schedule of Compensation 1. The compensation to be paid under this Agreement shall be as follows: Task 1. Task 2. Task 3. Task 4. Task 5. Task 6. Task 7. Task 8. Task 9. Task 10. Task 11. Task 12. Description of Alternative Development Plans Methodology for Estimating City Public Service Requirements and Costs Methodology for Estimating City Public Revenues Fiscal Impact Model Fiscal Impacts of Development Alternatives Fiscal Impacts of Specific Plan Coordination and Liaison Review of Preferred Infrastructure Plan Evaluation of Alternative Financing Methods Testing of Alternative Financing Mechanisms and Recommendation of Preferred Mechanisms Methodology for Establishing Recommended Financing Mechanisms Coordination and Liaison Total Labor Total Cost Expenses CoSts $1,760 $50 $1,810 $2,380 $70 $2,450 $1,600 $50 $1,650 $2,000 $200 $2,200 $3,000 $210 $3,210 $2,000' $200 $2,200 $1,560 $250 $1,810 $1,000 $50 $1,050 $2,260 $70 $2,330 $4,000 $250 $4,250 $3,000 $240 $3,240 $2,040 $360 $2,400 $26,600 $2,000 $28,600 C. Miscellaneous Provisione 1. City and Fiscal Consultant further agree to the following conditions: a. City, by notifying Fiscal Consultant. in writing, shall have the right to terminate any or all of the services and work covered by this Agreement at any time at least fifteen days from the date said notice is given to Fiscal Consultant. If this Agreement is terminated by the City as provided herein, Fiscal Consultant shall be entitled to all reimbursement of costs and compensation for services to the effective date of said termination. b. Fiscal Consultant agrees that it shall proceed immediately and diligently to perform the services provided for in this Agreement upon receipt of notice from City to proceed therewith. c. The terms and provisions of this Agreement shall extend to and be binding upon and inure to the benefits of heirs, executors, adminstrators, successors and assigns of the respective parties hereto. d. Fiscal Consultant shall perform the services hereunder as an independent contractor and under no circumstances shall Fiscal Consultant and/or any of its agents, servants or employees be considered as an employee or agent of City or The Irvine Company. e. Fiscal Consultant shall perform all services required under this Agreement in a careful, diligent and professional manner and shall be responsible for all of its negligent and willful errors and omissions. Fiscal Consultant, as a material part of this Agreement, hereby waives on its behalf and on behalf of all others claiming through Fiscal Consultant, all claims and demands against City and The Irvine Company, their agents, employees, successors and assigns, for all loss, damage, injury, sickness or death of any person resulting from the performance of this agreement by Fiscal Consultant, only if such performance contains negligent and willful errors and omissions, and agrees to idemnify, defend and hold City and The Irvine Company, their agents, employees, successors and assigns harmless from any loss, damage, injury, sickness, death or other claim made by other persons and from all costs, expenses and charges arising from any of Fiscal Consultant's negligent and willful errors and omissions. Fiscal Consultant shall maintain in full force and effect during the term of this Agreement its existing policies of insurance for which certificates of insurance have heretofore been delivered to City and The Irvine Company. f. Fiscal Consultant shall carry and pay for such compensation insurance as is necessary to fully Protect Fiscal Consultant and its employees under California Worker's Compensation and Safety Laws, to relieve City and The Irvine Company from all responsibility 10 under said laws in connection with this Agreement, and upon the execution of this Agreement to file with City a certificate certifying to said protection, if any such protection is required. g. Fiscal Consultant certifies that there shall be no discrimination against any employee who is employed in the work covered by this Agreement or against any application for such employment because of race, religion,color, sex, or national origin, including but not limited to, the following: employment, upgrading, demotion or transfer, recruitment or recruitment advertising, layoff or termination, rate of pay or other form of compensation, and selection for training, including apprenticeship. h. Fiscal Consultant will retain Angus McDonald & Associates, Inc. as a subconsultant to assist in performance of tasks 8, 9, 10, 11, and 12 in the Scope of Work set forth herein above. i. The computer Model will run on a computer of the Fiscal Consultant's choice, and the City and third parties acting on the City's behalf, may have unlimited access to the Model for costs of computer operation. Any transfer of the Model to the City's computer or a computer of the City's choice will be a separate task and upon terms and conditions for the use thereof to be agreed upon between the City and the Fiscal Consultant in a separate agreement, or City may itself implement such transfer or provide for such transfer through services of another contractor. j. The grant herein by Fiscal Consultant to the City allowing the City access to the Model referred to in this Agreement shall not confer-on the City any proprietary rights in the programming contained therein, but only a non-exclusive license to use such programming in accordance with the terms of this agreement. Such license will not include the right to sell or otherwise transfer the Model or the programs contained therein to others without the written consent of the Fiscal Consultant. Title to the programs contained in the Model will remain with the Fiscal Consultant, who shall have the exclusive right to protect same by copyright or otherwise, and to reproduce, sell and distribute the same to any other customer. k. In recognition of the Fiscal Consultant's aforesaid property rights, the City shall give credit to the Fiscal Consultant for the development and proprietary right to the Model in a form furnished by the Consultant to the city with the Model. Such credit shall be given to Fiscal Consultant in any use made of the Model by the City. 1. The City hereby agrees to indemnify and hold Fiscal Consultant harmless from any liability, loss, damages, costs or expense, including reasonable attorney's fees and costs of suit, which Fiscal Consultant may incur, suffer or be required to pay by reason of its .. use of the Model and the programs contained therein in fulfilling the Scope of Work set forth herein above, provided such use contains no negligent and willful errors and omissions, or in any applications ll beyond the scope of this Agreement by the city or other third parties who receive access to the Model directly or indirectly from the City. m. Fiscal Consultant shall provide City monthly with a detailed invoice, containing an itemization of all work performed, time spent, and the fees, costs and charges accrued thereon, in complete and sufficient detail to fully apprise City thereof. n. Upon presentation of monthly invoices by Fiscal Consultant specifying costs and percentages of completion by tasks, the City will make timely payment to the Fiscal Consultant in accordance with the schedule of compensation set forth in this Agreement. o. In the event of any arbitration or litigation arising out of or related to this Agreement, the prevailing party shall be entitled to reasonable attorneys' fees and reimbursement of costs of suit, to be paid by the losing party. IN WITNESS WHEREOF, this Agreement was executed by the parties on the day and year first above written. CITY.. CITY OF TUSTIN, a municipal corporation ATTEST: BY.' Mayor City Clerk APPROVED AS TO FORM.. James G. Rourke City Attorney FISCAL CONSULTANT: STANLEY R. HOFFMJ%N ASSOCIATES AND STANLEY R. HOFFMAN BY: Stanley R. Hoffman 12 EXHIBIT "A" FISCAL IMPACT ANALYSIS AND FINANCING ALTERNATIVES FOR THE PETERS CANYON SPECIFIC PLAN ANEA A Proposal to the City of Tustin Submitted by: Stanley R. Hoffman Associates in association with: Angus McDonald & Associates February 22, 1983 PLANNING AND DEVELOPMENT SERVICES 11661 San Vicenle Boulevar(:t, Sui[e 203 Los Angeles, Calilornia 90049 (2'13) 820-2680 STANLEY R.HOFFMAN A S S O C ~ A I E S 2. TECHNICJ~. APPROACH Phase 1: Fiscal Impact Analysis The major objectives of phase 1 are: To develop a methodology to estimate revenues and costs for a mix of land uses and implement this methodology as a computer-based fiscal impact model; and 2. 'To evaluate alternative'land uses and the specific plan, with the aid of a fiscal impact model, leading to a specific plan that will provide a positive fiscal flow to the City. In addition to projecting overall levels of costs and revenues for alternative development patterns, the fiscal impact analysis will focus on the differences in service costs and the differences in revenues between two or more alternatives. Public costs reflect decisi.ons about levels of staffing and'service. Actual incremental'costs, in any individual circumstance, are als0 highly sensitive to details such as remaining capacity or cumulative impacts of other proposed developments both within Tustin and the neighboring city of Irvine. Interviews with knowledgable City of Tustin and special district staff members will be the primary approach in determining the current levels of service and associated costs, as well as the incremental costs associated with the proposed changes in land uses. While a historic trend analysis of the City's budget will also be undertaken to determine average cost factors, average costs will be applied only if it is clear that no significant incremental effects are likely. Local government revenues depend largely on taxable value of property, location of retail sales and statutory formulae controlling the allocation of various state and federal revenue sources. Projections of local revenues will be made through of formal forecasting models that respond to these factors, and will be updated to reflect the most recent changes iA state and federal laws that affect the various revenue sources. The fiscal impact model, and associated evaluation of alternatives, will clearly distinguish between capital costs and ongoing operations and maintenance costs. Similarly, separate projections will be made for recurring revenues, such as property and sales taxes, and one-time fees and charges. -3- Phase I work will include a sensitivity analysis that tests the effects of changes in economic conditions, development assumptions, and City service standards on the City's projected fiscal position. This analysis will provide the City with a picture of the fiscal impacts of a marginal change of each of the variables, and will identify those variables most critical in determining long-term fiscal viability for the City. This sensitivity analysis will be extended into the evaluation of the selected land use and specific plan alternatives. Of concern is not only that a land use alternative have fiscal viability under the stated assumptions, but that fiscal viability be maintained even under a range of worst-case assumptions about future economic and fiscal conditions. The work program has assumed that three major land use alternatives and one specific plan alternative will be tested. Several refinements of specific aspects of the land uses may also be tested within the proposed budget. Finally, the fiscal impact model will be implemented and documented so that the City will retain the capability after completion of the project. This is important given the changing economic climate. Both firms have operating computer-based models which can be tailored to the City's needs. Additionally, Stanley R. Hoffman Associates has implemented a fiscal impact model for The Irvine Company, and the framework of this computer system .could be adapted to the City's requirements. Phase 2: Financing Alteraatives The major objectives of phase 2 are: 1. To evaluate and develop specific recommendations regarding financing mechanisms; and 2. To develop a methodology to form assessment districts and implement other recommended financing approaches. Phase 2 will examine the range of financing options available to implement the preferred infrastructure plan. Existing techniques that will be considered include: general fund financing, special benefit assessments, development fees and exactions, and federal and state sources. Additionally, the feasibility of innovative financing options will be examined, such as the Mello-Roos Community Facilities Act of 1982. While tax increment financing and the use of a redevelopment authority will also be examined, the consultant team is aware of legislation that has recently'been introduced in the California legislature that may lead to significant changes in redevelopment law, including a stricter definition of what constitutes blight and restrictions on certain vacant or -5- agricultural lands that may restrict the use of redevelopment financing. These potential changes will be monitored and, where appropriate, legal opinions will be obtained to determine whether redevelopment financing can be applied in of the Peters Canyon Specific Plan Area. Two major related issues must be dealt with if a financing plan as comprehensive as that required for the Peters Canyon Area is actually to be implemented. These issues concern equity and acceptability. Equity must be evaluated in terms of relative rights and responsibilities for landowners, developers, and future residents in the study area, compared to equivalent groups elsewhere in the county. Also, the equity iss.ue must consider relative financial responsibility for differently situated owners, developers, and occupants within the study area itself. The financing plan must bear an observable relationship to benefit conferred, and must, within the constraints of past history, appear to be reasonable, compared to experience in other parts of the county. At the same time, the provisions and terms of the proposed financing plan must be acceptable to the participants and economically realistic. The capability to quickly and economically test the impacts of' alternative financing approaches is very important in this regard. The implications of different financing alternatives for different parties can be illustrated in very concrete terms. Sensitivity analysis will be performed to indicate the extent to which alternative financing plans could be compromised by short-term economic fluctuations. At the same time, 'the feasibility of staging the facility plan to reduce vulnerability to economic, shifts wilt be tested. Coordination Meetings and Public itearlngs Because of the number of parties to be directly involved in the project, coordination with the project coordinator, other project teams, the City of Tustin staff and The Irvine Company staff will require careful attention. As project director for. the fiscal/financial consulting team, Stanley R. Hoffman will assume this role, with assistance from Angus N. McDonald. The project budget provides for seven major coordination meetings between the project coordinator, the fiscal/financial consultants, and the other consultant teams as appropriate. In addition, two meetings are assumed where the members of the consultant team will receive public review and comment. Finally, individual task budgets will support extensive day- to-day coor¢ination. 3. SCOPE OF WORK Phase 1. Fiscal Impact Anal~vsts Task 1. Description. of Alternative Development Plans This task will involve the description of alternative development plans in terms of variables required for estimation of City costs and revenues. Coordination will be required with the consultant teams preparing the land use and public facility plans. The bulk of this task will consist of assembling data and land use alternatives developed by other consultants. Subtasks: Specify staging of land uses for .each development alternative, including annual cumulative acreages of residential, commercial, industrial, public park and other uses. Specify annual levels of population 'and housing by subarea for each alternative development plan. Estimate annual numbers of commerical and industrial businesses and employees by subarea for each alternative development plan. Specify staging of circulation improvements, including street lengths by type of street, length and type of medians and parkways, number of street trees and traffic signals. Identify public facility infrastructure requirements, phasing and costs. Task 1 Product: · Description of alternative development plans in terms of variables affecting City costs and revenues. Task 2. Develo;mmnt and Imple~mntation of Methodology for Estimating City Public Service Requirements and Costs This task will use data from task 1 as inputs for determining public service demands and associated costs. The analysis will utilize a combination of case study interviews and incremental and average cost measures. I~cremental costs will be estimated whenever possible. Estimates of average costs will be based on current service standards, and historic trends. Also, cost sharing arrangements with the County of -6- -7- Orange, the City of Irvine, and special districts, for the provision of selected services will be examined. Subtasks: 2.1. Identify range of City public services to be analyzed, including: 1. Public safety {police patrol and investigative services); 2. Public works {street maintenance, park maintenance, tree maintenance, refuse collection); 3. Community services (sports, classes, cultural arts, youth services, human services, senior citizen services); 4. Legislative, administrative and non-departmental services; and 5. Citywide maintenance and engineering services. 2.2. Through case study interviews, analysis of service standards and budgetary data, determine service levels required for' each of the services identified in subtask 2.1 for each alternative development plan from task 1. 2.3. Through case study interviews, incremental and average cost estimates, determine per unit recurring costs for each of the service requirements identified in subtask 2.2. 2.4. Examine service requirements of special districts and school districts resulting from alternative land use plans. Task 2 Products: Methodology for determining City service requirements by type of service for a range of development alternatives. · Methodology for converting CitYlservice requirements by type of service to recurring costs. Task 3. Development and ImpleL, ntation of Methodology for Estimating City Public Revenues This task will estimate public revenues on the basis of the year-by-year- development schedules prepared in task 1. Revenue estimation algorithms developed by McDonald & Associates will be used to prepare these revenue estimates. These algorithms simulate the manner in which individual revenue sources are actually generated in California., and the way in which revenues are shared among jurisdictions. -8- The methodology for estimating revenues will be closely coordinated with that of the cost estimates so that consistent estimates of balances for key City funds can be generated. Subtasks: 3.1. On the basis of development phasing, existing and projected property valuation', and allocations of property tax to jurisdictions, project the property tax accruing to the City of Yustin under each development alternative. 3.2, On the basis of phasing of commercial development and assumed taxable sales generation, project the sales tax accruing to the City of Tustin under each development alternative. 3.3. Project other recurring revenues collected by the City of Tustin, including business license taxes and transient occupancy taxes. 3.4, Project recurring revenues from other sources, including state subventions and federal grants. 3.5. Project one-time fees and charges accruing to the City of Tustin. Task 3 Product: · Methodology for projecting City public revenues from all sources for the alternative development pl. ans. Task 4. Development of Fiscal Impact Model This task will utilize the methods developed in tasks 2 and 3 in development of a computer-based fiscal impact model for the City of Tustin. The model will project recurring City costs and revenues resulting from alternative development plans for the Peters Canyon Specific Plan Area. In addition, a series of reports will be developed to facilitate comparison of key revenue and cost variables between development alternatives. Subtasks: Based on methods developed in tasks 2 and 3, develop a model for projecting recurring costs and revenues from alternative development plans for the Peters Canyon Specific Plan Area. 4.2. Design-and implement a computer program for providing a series of reports for comparing fiscal impacts of alternative development -9- plans. Reports will show key variables for each development alternative and will also present the differences in key variables between development alternatives. Key variables include: 1. Net cost/revenue streams; 2. Present value of net cost/revenue streams; and 3. Fiscal cost-effectiveness of alternative development plans in terms of tradeoffs between different land use types. 4.3. 'Evaluate the sensitivity of.cost/revenue streams to development phasing, mix of land uses and service standards. 4.4. Prepare a user's manual for the fiscal impact model and comparative analysis programs. Task 4 Products Computerized model for projecting and comparing recurring fiscal 'impacts to the City of Tustin from alternative development plans .for the Peters Canyon Specific Plan Area. User's manual documenting the computer model and its operation. Task 5. Testing and Evaluation of Fiscal Impacts of Development Alternatives This task will utilize the fiscal impact model and reporting programs from task 4 to evaluate the alternative development plans for the Peters Canyon Specific Plan Area. The focus will be on identifying development plans which yield positive fiscal flows to the City. Subtasks: 5.1. Using the fiscal impact model developed in task 4, determine the fiscal impacts of each development alternative in terms of recurring costs and revenues to the City of Tustin. 5.2. Using the evaluative indicators developed in task 4, prepare a comparative evaluation of the fiscal impacts of the development alternatives. · 5.3. Document evaluation of each development alternative. -10- Task 5 Product: · Report on fiscal evaluation of development alternatives. Task 6. Testing and Evaluation of the Fiscal Impacts of the Specific Plan This task will involve testing fiscal impacts of the specific plan, according to the procedures developed in task 5. This task will also identify public service and fiscal issues which require mitigation. Subtasks: 6.1. Test the specific plan for fiscal impacts using the model~ developed in task 4. 6.2. Evaluate the fiscal impacts of the specific plan using the computer p. rogram and indicators developed in task 4. 6.3. Identify public service and fiscal issues requiring mitigation. 6.4. Document the fiscal impacts and evaluation of the specific plan. Task 6 Product: · , Report presenting and evaluating the fiscal impacts to the City of Tustin of the Peters Canyon Specific Plan. Task 7. Coordination and Liaison This task will provide necessary coordination and liaison with the City of Tustin staff, The Irvine Company staff, the project coordinator and other consultant teams. While coordination and liaison will be required throughout phase 1, special attention will be given in three tasks:. In task 1, special coordination will be required with the consultant teams preparing the land use and public facilities plans. Results of the evaluation of alternative development plans, carried out in task 5, will be presented to the project coordinator, the City of Tustin staff and The 1trine Company staff. e Results of task 6, concerning fiscal impacts of the specific plan and public service and fiscal issues requiring mitigation, will be presented ~o the project coordinator, the City of Tustin staff and The Irvine Company staff. -11- Phase 2. Financing Alternatives Task 8. Review of Preferred Infrastructure Plan This task will involve the review of the preferred infrastructure plan and specification of financing requirements for different components of required public facilities and infrastructure. This task will require coordination with the consultant team preparing the community facilities' and ,infrastructure plan. Subtasks: 8.1. From the preferred infrastructure plan, derive phasing and costs of required public facilities. 8.2. Specify financing requirements for each public facility. Task 8 Product: · Report showing phasing, costs and financing requirements for the preferred public facilities and infrastructure plan. Task g. Evaluation of Alternative Financing Methods Major financing alternatives will be evaluated in this task, including general fund financing, special benefit assessments, tax increment financing and formation of a Mello-Roos Con~nunity Facilities District. The intent of the evaluation is to identify leading candidates among techniques of financing for each of the major capital improvements. Emphasis will be placed on identifying the final burden of the financing alternatives. Subtasks: Compare the major elements of the proposed infrastructure plan, as evaluated in task 8, with the alternative financing techniques available. 9.2. Based on discussions with City of Tustin and The Irvine Company representatives, as appropriate, identify financing techniques which should not be considered further. 9.3. Identi{y benefits and quantify financing burdens for each major capital improvement. Task 9 Product: ® Report on evaluation of alternative financing mechanisms. Task 10. Testing of Alternative Financing Mechanisms and Recommendation of Preferred Mechanisms Alternative sets of financing mechanisms and alternative ways to spread the financial burden will be tested against criteria related to financial adequacy and equity. A test will also be made of the extent to which apparently adequate plans will affect the profitability and feasibility of development in the Peters Canyon Specific Plan Area. Subtasks: 10.1. Test alternative sets of financing mechanisms and alternative ways to spread the financial burden against criteria of financial adequacy and equity. 10.2. Test the extent to which adequate financing plans will affect the profitability and feasibility of development in the area. 10.3. Recon~end financing mechanisms preferred for implementation. Task 10 Product: · Report presenting evaluation of alternative financing mechanisms and recommendations for implementation. Task 11. Methodology for Establishing Recmmended Financing Mechanisms This task will prepare a financing plan for the specific plan. The financing plan will be based on the evaluation and testing of alternative financing mechanisms in tasks g and 10. The financing plan will include methods for implementing financing mechanisms and will be tested for its ability to withstand future economic fluctuations. Finally, after a period of review and comment on the specific plan, a final methodology for financing public infrastructure will be prepared. Subtasks: 11.1. Prepare a proposed financing plan for the specific plan, based on the evaluation and testing of financing mechanisms in tasks 9 and 10. 11.2. Specify methods for implementing financing mechanisms. -13- 11.3. Test the financing plan for its ability to withstand economic fluctuations. 11.4. Modify the financing plan, as necessary, on the basis'of public hearings on the specific plan. Task 11 Product: · Financing plan specifying methods to implement financing of public facilities and infrastructure for the specific plan. Coordination ~nd Liaison Key phase 2 coordination and liaison efforts include: 1. Ta~k 8 will require inputs from the consultant team preparing the public facilities and infrastructure plan. e At the conclusion of task g, meetings with representatives of the City and The Irvine Company will be required to identify funding mechanisms which should not be considered further. At the conclusion of task 10, financing recommendations will be made to representatives of the City of Tustin, The Irvine Company and the project coordinator. At the conclusion of task 11, the financing methodology will be presented to representatives of the City of Tustin, The Irvine Company and the project coordinator. PLANNING AND DEVELOPMENT SERVICES 11661 San Vicenle Boulev&rct, Suile 203 Los Angeles. Calilornia 90049 (213) 820-2680 STANLEY R_:.HO FFMAN A S $ 0 C I A T E $ October 7, 1983 Mr. J. Larry Webb Principal O.L. Webb Planning 14751 Plaza Drive, Suite M Tustin, California 92680 Dear Larry, Stanley R. Hoffman Associates, in association with Angus McDonald & Associates, is pleased to 'submit this letter proposal for professional planning services to assist the City of Tustin and llne Irvine Company in preparing the fiscal impact analysis and financing alternatives for the East Tustin Specific Plan. We would like to thank you and EdKnight for meeting with us last Tuesday to explain the current project objectives and schedule. This letter proposal supplements and revises our proposal of February 22, 1983. Scope of Work and Technical Approach Based on our discussion of October 4, 1983, the proposed scope of work is supplemented to include an analysis of fiscal and financial opportunities and constraints. In order to meet your required date of October 20, 1983, our approach will be to conduct interviews with all department heads before that time and to present on October 20 a verbal report with an accompanying sunmary memorandum. Our report and memorandum will cover the following l topics: 1. The methodology that we will apply in projecting fiscal impacts of alternative land use plans; 2. Identification of fiscal opportunities and constraints associated with different land uses; 3. Identification of both newer and traditional-financing mechanisms for public capital facilities and services. The opportunities and constraints analysis is intended to assist the land use planning consultant in identifying land use alternatives which'will be fiscally sound for the City, as well as financially feasible. Stanley R. Hoffman Associates October 7, 1983 Mr. J. Larry Webb page two The analysis of opportunities and constrailnts will be included as part of task 2 {methodology for estimating City service requirements and costs), task 3 {methodology for estimating City revenues), and task 9 {evaluation of alternative financing mechanisms). The opportunities and constraints analysis will identify the revenue- and cost-generating characteristics of various categories of residential, retail, office, and industrial land uses ~and will provide an assessment of alternative financing mechanisms for 'implementing development plans and phasing prograns. Our ~pproach will e~amine each source of City revenues and costs in terms of components that could influence its change. For example, interviews with City department heads will focus on distinguishing between line costs that can be expected to increase in proportion to land~development,~ as opposed to overhead functions which would not be so affected. This analysis would also be sensitive to unique site factors,.:such as distance from existing service locations and topography. The development of the fiscal impact model will be facilitated by our ongoing work in central Orange County. We currently have. fiscal impact models operating on a micro-computer {IBM PC) and a mainframe computer (DEC 1170). Utilization of the mainframe computer model may be the most effective approach.for this project, but it should benoted that · communication can be established between the IBM PC and the DEC 1170 I would also like to stress the capabilities of'our team in financial. analysis. In addition to our work in analyzing the formation of Con~nunity Facilities Districts under the new Mello-Roos Act, Angus McDonald & Associates brings a wealth of experience throughout California in preparing financial plans. We will study the potential for use of traditional mechansims concurrently with the newer approaches. For analysis of school financing, our team includes Jack Swoboda, a specialist in' this field. Schedule The schedule, as shown in Attachment 1, is revised to'reflect the current project schedule. Tasks 2, 3 and g will be initiated immediately, with .- completion of the preliminary report on opportunities:and constraints by . October 20, 1983, and full completion of the tasks by November 21, 1983.. Development of the fiscal impact model {task 4) and testing of the alternative land use plans [task 5} will be completed 'over the period from December 1, 1983 to January 30, 1984. Fiscal impacts~of~the-specif~c -.. plan (task 6) will be evaluated over the period April-June, 1984., Review of the preferred infrastructure plan (task 8), financing recommendations {task 10) and development of the financing methodology'(~ask I1) will be carried out during the months of April, May and June 198¢.. Coordination and liaison {tasks 7 and 12), including response to comments will be carried out throughout t~e project. ~=='~'~ ~ =_ ~ ." Stanley R. Hoffman Associates October 7, 1983 Mr. J. Larry Webb page three Budget The proposed budget is reduced to $28,600, with $26,600 allocated to professional fees and $2,000 allocated to expenses. The budget is presented by task in Attachment 2. In part, this reduction reflects our ~assumption that some efficiencies in task 2, methodology for estimating City service requirements and costs, can be derived from review of the materials already developed by Strong Associates. However, the main sources for these cost savings are efficiencies expected to be realized throdgh our extensive and ongoing work in preparing fiscal impact reports for major developments in the central Orange County area, as well as recent financial analyses which have assessed a range of financing techniques. · · While both of our firms are relatively small, we pride ourselves on high ..... quality work, efficiency, and timely performance. We understand that entering the specific plan process at this date puts added pressure on us. We are prepared to work with you, the project team and the City staff in meeting your schedule and developing a feasible and imptementable specific plan for East Tustin. Should you desire any further information regarding this letter, proposal, please do not hesitate to contact me. Very truly yours, ~.STANLEY R. ~~ES Principal SRH: sc Attachments (2) Stanley R. Hoffman Associates October 7, 1983 East Tustin Specific Plan ATTACHMENT 1 PROPOSED ~CHEDULE FOR FISCAL IMPACT ANALYSIS AND FINANCING ALTERNATIVES Phase 1. Fiscal Impact Analysis Task 1. Description of Alternative Development Plans Task 2. Methodology for Estimating City Public Service Requirements and Costs Task 3. Methodology for Estimating City Public Revenues Task 4. Fiscal Impact Model Task 5, Fiscal Impacts of Development Alternatives Task 6. Fiscal Impacts of Specific Plan Task 7. Coordination and Liaison Period of Performance December 1 - December 15, 1983 October 12 - November 21, 1983 October 12 - November 30, 1983 December 1, 1983 - January 30, 1984 December 1, 1983 - January 30, 1984 April - June, 1984 Ongoing Phase2. Task 8. Task 9. Task 10. Task 11. Task 12. Financing Alternatives Review of Preferred Infrastructure Plan Evaluation of Alternative Financing Methods Testing of Alternative Financing Mechanisms and Recommendation of Preferred Mechanisms Methodology for Establishing Recommended Financing Mechanisms Coordination and Liaison April - June, 1984 October 12 - November 30, 1983 April - June, 1984 April - Ju6e, 1984 Ongoing Stanley R. Hoffman Associates October 7, 1983 East Tustin Specific Plan ATTACHMENT 2 PROPOSED BUDGET FOR FISCAL IMPACT ANALYSIS AND FINANCING ALTERNATIVES Phase 1. Task 1. Task 2. Task 3. Task 4. Task 5. Task 6. Task 7. Labor Total Percent Cost ExPenses Costs of Total Fiscal Impact Analysis Description of Alternative Development Plans $1,760 $50 $1,810 6.3% Methodology for Estimating City Public Service Requirements and Costs $2,380 $70 $2,450 8.6 Methodology for Estimating City Public Revenues $1,600 $50 $1,650 5.8 Fiscal Impact Model $2,000 $200 $2,200 7.7 Fiscal Impacts of Development Alternatives $3,000 $210 $3,210 11.2 FisCal Impacts of Specific Plan $2,000 $200 $2,200 7.7 Coordination and Liaison $1,560 $250 $1,810 6.3 Phase 2. Task 8. Task 9. Task 10. Task 11. Task 12. Financing Alternatives Review of Preferred Infrastructure Plan Evaluation of Alternative Financing Methods Testing of Alternative Financing Mechanisms and Recommendation of Preferred Mechanisms Methodology for Establishing Recommended Financing Mechanisms Coordination and Liaison Total $1,000 $50 $1,050 3.7 $2,260 $70 $2,330 8.1 $4,000 $250 $4,250 14.9 $3,000 $240 $3,240 11.3 $2,040 $360 $2,400 8.4 $26,600 $2,000 $28,600 100.0%