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HomeMy WebLinkAbout7712RESOLUTION NO. 7712 A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE FIRM OF LELAND CONSULTANTS AND THE CITY OF PUEBLO, A MUNICIPAL CORPORATION, FOR PROFESSIONAL SERVICES IN CONJUNCTION WITH THE ECONOMIC DEVELOPMENT ADMINISTRATION 302(a) PLANNING PROGRAM, AND AUTHORIZING THE PRESIDENT OF THE COUNCIL TO EXECUTE SAME BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PUEBLO, COLORADO, that: SECTION 1 An agreement dated September 25, 1995, between the firm of Leland Consultants and the City of Pueblo, a Municipal Corporation, to provide professional services in connection with a market analysis for downtown Pueblo, Colorado, in conjunction with the Economic Development Administration 302(a) Planning Program, a copy of which is attached and incorporated, having been approved as to form by the City Attorney, is hereby approved. SECTION 2 Funds for these services will be drawn from Account No. 144 -1995- 037 - 000 -040- 0020 in the amount of $4,500.00. SECTION 3 The President of the City Council is hereby authorized to execute said contract on behalf of Pueblo, a Municipal Corporation, and the City Clerk shall affix the Seal of the City thereto and attest same. INTRODUCED: SEPTEMBER 25, 1995 BY: John Califano COUNCIL PERSON APPROVED: VICE PRESIDENT OF THE CITY COUNCIL ATTEST: CITY CLERK L HISTORIC ARKANSAS RIVER PROJECT DOWNTOWN MARKET ANALYSIS WORK SCOPE Phase I: Downtown Market Analysis Work Tasks Review with City Planning staff the work scope proposed here to discuss any necessary refinements, additions or deletions • Meet with Cathy Green to: • review work for the Downtown Pueblo business plan; • coordinate data collection efforts; and • integrate business plan work tasks into the HARP market analysis • Review additional documentation, studies, and analyses relating to downtown Pueblo and the HARP site • Determine the potential trade area for downtown Pueblo and the HARP project • Evaluate historical and projected economic and demographic data within the trade area, including: • Population and household growth • Per capita and household income levels • Employment growth • Labor force characteristics • Consumer expenditure patterns • Retail sales /leakage patterns • Tourism activity pattems /impacts • Review existing and future residential, retail commercial, office commercial, lodging, restaurant and other market conditions in the downtown Pueblo trade area to verify the following: • Commercial lease /rental rates • Residential sale prices /rent levels • Hotel room rates • Building /land prices • Vacancy rates • Space absorption • Status of competitive projects (existing, planned and proposed) Timing • Approximately 3 weeks Professional Fees • $4,500 (Includes Expenses) 1 LELAND CONSULTING GROUP L: LELAND CONSULTING GROUP STANDARD ENGAGEMENT TERMS AND CONDITIONS Our report(s) submitted to you will be based on estimates, assumptions and other information developed from research of the market, our knowledge of the real estate industry and meetings during which you will provide certain information. The sources of information and basis of the estimates and assumptions will be stated in the appropriate sections of our report(s). The terms of this engagement are such that we will have no obligation to revise our report(s) or the projected market and /or prospective financial analysis to reflect events or conditions which occur subsequent to the last day of our field work. However, we will be available to discuss the necessity for revision in view of changes in the economic or market factors affecting the proposed project. We will not ascertain the legal and regulatory requirements applicable to this project. Further, no effort will be made to determine the possible effect on this project of future federal, state, or local legislation including any environmental, growth restrictions, or ecological matters or interpretations thereof. We will not investigate the presence or issue of toxic material, asbestos or other pollutants in, on, or adjacent to the subject property. We recommend that an experienced specialist investigate these matters. With respect to market demand analysis, our work will not include any analysis of the potential impact of possible energy shortages. Since our market analysis will be based on estimates and assumptions, which are inherently subject to variation depending upon evolving events, we will not represent them as results that will actually be achieved. This proposed Scope of Services and professional fees are valid for a period of sixty (60) days from the date of this engagement letter. Our report is intended for internal use by you, the client. Otherwise, neither our report not its contents may be included, referred to or quoted in any offering circular, registration statement, prospectus, appraisal, loan application or other agreement or document in whole or in part without the written consent of Leland Consulting Group. From time to time, and /or at your request, we may issue a draft report, discussion outline or other interim document(s). This /these draft report(s) and documents are not to be relied upon to make management/ investment decisions nor are they to be presented to a third party in summary, in part, or in total. This /these draft report(s) and other interim documents are to be used for internal discussion purposes only. In the event that the client or Leland Consulting Group elects to terminate this agreement, the initiating party must notify the other in writing. In such event, the client agrees to pay Leland Consulting Group for all professional fees and expenses incurred up to and through the date of receipt of notification to terminate this agreement. Leland Consulting Group reserves the right to withhold delivery of any report document until any outstanding invoices are paid in full. The client agrees that Leland Consulting Group cannot be held responsible for any delays caused by the client, agents acting on behalf of the client, acts of nature, or the actions of others from whom the completion of this engagement depends. This agreement may be amended only in writing executed by both Leland Consulting Group and the client:. We will abide by the Economic Development Administration Stanaaras, terms and Conditions and attached hereto. LELAND CONSULTING GROUP LELAND CONSULTING GROUP L ' ACCEPTANCE OF PROPOSAL Thank you for the opportunity to submit this proposal. In order to initiate our services according to attached work scope, please sign below and return a copy of this contract to us at the address below. Sincerely, CONSULTING GROUP v �l Anne B.R. Tan kersley Principal m 7r. James F. Munch Date Director, Department of Planning and Development City of Pueblo, Colorado Mr. Christian L. Weaver President, Pueblo City Council Date 1429LarimerSquare Denver, CO 80202 TEL 303.893.1616 FAX 303.893.0618 ■ Real Estate Economics • Development Advisory Services • Project Management .� /4-0/QOw�iL_- 10-3-95 325 Nortbwest 22nd Portland, OR 97210 TEL 503.222.1600 FAX 503.222.5078