I. RECOMMENDATION:
Authorize City Manager to approve and sign agreement with RSG Solutions to prepare the FY2024-25 Housing Successor Agency Expenditure Report
II. BACKGROUND:
Since 2018, RSG Solutions has provided the City with reporting and advisory services to comply with Senate Bill 341, Assembly Bill 1793, and related legislation for the Housing Successor Agency.
The City serves as the Housing Successor Agency to the former Coalinga Redevelopment Agency (“RDA”). The City inherited three vacant properties and 57 First-Time Homebuyer and Rehabilitation Loans from the former RDA.
- Property 1: 180 Pierce Street is currently hosting a community garden
- Property 2: Located on Elm Ave and is a part of the new affordable housing development
- portions assumed by new affordable housing development
- portions make up City-maintained asbestos site
- portions included in City trail system
- Property 3: Sold to Self-Help Enterprises on July 2024 and part of the 'Build your own home' project.
III. DISCUSSION:
As Housing Successor Agency, the City is responsible for developing or disposing of properties, administering loan agreements, and spending money generated by former RDA housing assets within limits set by the law. The City is also required to prepare an annual report that details compliance with expenditure limitations, describes property disposition efforts, provides an inventory of homeownership units, and reports on other items. The report is due by April 1 annually to the California Department of Housing and Community Development (“HCD”) with the City’s Housing Element Annual Progress Report.
SCOPE OF SERVICES
The Report will include the following information for Fiscal Year 2024-25 as required by law:
• The amounts deposited into the Low-and-Moderate Income Housing Asset Fund (“Housing Asset Fund”)
• A statement of the balance of the Housing Asset Fund
• A description of Housing Asset Fund expenditures by category
• The statutory value of real property and loans receivable
• A description of funds transferred to the Housing Successor Agency
• A description of projects that receive funding through the ROPS, if any
• The status of efforts to develop or dispose of former RDA properties transferred to the Housing Successor
• An update on inclusionary and replacement housing obligations remaining from the former RDA, if any
• Compliance with expenditures limitations within a five-year compliance period
• The percentage of senior deed-restricted units assisted in the last 10 years
• The amount of excess surplus
• An inventory of homeownership units assisted by the former RDA or Housing Successor
• The amounts received from repayment of any City loans to the former RDA through the ROPS
IV. ALTERNATIVES:
None
V. FISCAL IMPACT:
FEE ESTIMATE
The not-to-exceed fee for this engagement is $5,500, charged on a time-and-materials basis as detailed in the following table. Generally, these fees may be charged to the administrative budget of the Housing Successor Agency.
Any services in excess of the quoted amounts will be conducted with City staff’s authorization and may require a contract amendment. Our services for this engagement would be charged on a time-and-materials basis using the billing rates below.
Fee Schedule
Principal $305
Director $295
Senior Associate $250
Associate $205
Senior Analyst $185
Analyst $170
Research Assistant $145
Technician $120
Clerical $100
Reimbursable Expenses Cost plus 10% |