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HomeMy WebLinkAboutSIGNET PARTNERS - CONTRACT - RFP - 20450 P947 SLEEPY WILLOW CAPITOL IMPROVEMENTSPROFESSIONAL SERVICES AGREEMENT THIS AGREEMENT made and entered into the day and year set forth below, by and between THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as the "City" and Signet Partners hereinafter referred to as "Professional". W ITNESSETH: In consideration of the mutual covenants and obligations herein expressed, it is agreed by and between the parties hereto as follows: 1. Scope of Services. The Professional agrees to provide services in accordance with the scope of services attached hereto as Exhibit "A", consisting of two (2) pages, and incorporated herein by this reference. 2. The Work Schedule. The services to be performed pursuant to this Agreement shall be performed in accordance with the Work Schedule attached hereto as Exhibit "B", consisting of one (1) page, and incorporated herein by this reference. 3. Time of Commencement and Completion of Services. The services to be performed pursuant to this Agreement shall be initiated within five (5) days following execution of this Agreement. Services shall be completed no later than October 15, 2004. Time is of the essence. Any extensions of the time limit set forth above must be agreed upon in writing by the parties hereto. 4. Early Termination by City. Notwithstanding the time periods contained herein, the City may terminate this Agreement at any time without cause by providing written notice of termination to the Professional. Such notice shall be delivered at least fifteen (15) days prior to the termination date contained in said notice unless otherwise agreed in writing by the parties. All notices provided under this Agreement shall be effective when mailed, postage prepaid and sent to the following addresses: Professional: City: With Copy to: Signet Partners City of Fort Collins City of Fort Collins Attn: Jerry Anderson Attn: Maurice Head Attn: Purchasing 7400 E. Crestline Cir Ste 150 281 N. College Ave. PO Box 580 Greenwood Village, CO 80111 Fort Collins, CO 80524 Fort Collins, CO 80522 In the event of any such early termination by the City, the Professional shall be paid for services rendered prior to the date of termination, subject only to the satisfactory performance of the Professional's obligations under this Agreement. Such payment shall be the Professional's sole right and remedy for such termination. 5. Design, Project Indemnity and Insurance Responsibility. The Professional shall be responsible for the professional quality, technical accuracy, timely completion and the coordination of all services rendered by the Professional, including but not limited to designs, plans, reports, specifications, and drawings and shall, without additional compensation, promptly remedy and correct any errors, omissions, or other deficiencies. The Professional shall indemnify, save and hold harmless the City, its officers and employees in accordance with Colorado law, from all damages whatsoever claimed by third parties against the City; and for the City's costs and reasonable attorneys fees, arising directly or indirectly out of the Professional's negligent performance of any of the services furnished under this Agreement. The Professional shall maintain commercial general liability insurance in the amount of $500,000 combined single limits, and errors and omissions insurance in the amount of N/A. 6. Compensation. In consideration of the services to be performed pursuant to this Agreement, the City agrees to pay Professional on a time and reimbursable direct cost basis according to the following schedule: Hourly billing rates: Senior Professional $200.00/hr Manager $160.00/hr Professional $120.00/hr Jr. Professional $ 80.00/hr Administrative Asst. $ 40.00/hr Clerical/Support $ 20.00/hr Reimbursable direct costs: as billed with maximum compensation (for both Professional's time and reimbursable direct costs) not to exceed Twelve Thousand Dollars ($12,000). Monthly partial payments based upon the Professional's billings and itemized statements of reimbursable direct costs are permissible. The amounts of all such partial payments shall be based upon the Professional's City -verified progress in completing the services to be performed pursuant hereto and upon the City's approval of the Professional's reimbursable direct costs. Final payment shall be made following acceptance of the work by the City. Upon final payment, all designs, plans, reports, specifications, drawings and other services rendered by the Professional shall become the sole property of the City. 7. City Representative. The City will designate, prior to commencement of work, its project representative who shall make, within the scope of his or her authority, all necessary and proper decisions with reference to the project. All requests for contract interpretations, change orders, and other clarification or instruction shall be directed to the City Representative. 8. Monthly Report. Commencing thirty (30) days after the date of execution of this Agreement and every thirty (30) days thereafter, Professional is required to provide the City Representative with a written report of the status of the work with respect to the Scope of Services, Work Schedule, and other material information. Failure to provide any required monthly report may, at the option of the City, suspend the processing of any partial payment request. 9. Independent Contractor. The services to be performed by Professional are those of an independent contractor and not of an employee of the City of Fort Collins. The City shall not be responsible for withholding any portion of Professional's compensation hereunder for the payment of FICA, Workers' Compensation, other taxes or benefits or for any other purpose. 10. Personal Services. It is understood that the City enters into this Agreement based on the special abilities of the Professional and that this Agreement shall be considered as an agreement for personal services. Accordingly, the Professional shall neither assign any responsibilities nor delegate any duties arising under this Agreement without the prior written consent of the City. 11. Acceptance Not Waiver. The City's approval of drawings, designs, plans, specifications, reports, and incidental work or materials furnished hereunder shall not in any way relieve the Professional of responsibility for the quality or technical accuracy of the work. The City's approval or acceptance of, or payment for, any of the services shall not be construed to operate as a waiver of any rights or benefits provided to the City under this Agreement. 12. Default. Each and every term and condition hereof shall be deemed to be a material element of this Agreement. In the event either party should fail or refuse to perform according to the terms of this agreement, such party may be declared in default. 13. Remedies. In the event a party has been declared in default, such defaulting party shall be allowed a period of ten (10) days within which to cure said default. In the event the default remains uncorrected, the party declaring default may elect to (a) terminate the Agreement and seek damages; (b) treat the Agreement as continuing and require specific performance; or (c) avail himself of any other remedy at law or equity. If the non -defaulting party commences legal or equitable actions against the defaulting party, the defaulting party shall be liable to the non -defaulting party for the non -defaulting party's reasonable attorney fees and costs incurred because of the default. 14. Binding Effect. This writing, together with the exhibits hereto, constitutes the entire agreement between the parties and shall be binding upon said parties, their officers, employees, agents and assigns and shall inure to the benefit of the respective survivors, heirs, personal representatives, successors and assigns of said parties. 15. Law/Severability. The laws of the State of Colorado shall govern the construction, interpretation, execution and enforcement of this Agreement. In the event any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision of this Agreement. THE CITY OF FORT COLLINS, COLORADO ames B. O'Neill II, CPPO, FNIGP Dire of Purchasing & Risk Management t t, DATE: 7 2 b y ., ,®ill his City Clerk //�� e)az " J APPRO\A7MTOAFORM: Sig VICE PRESIDENT Date: `% - 15> -11:57±� ATTEST: 119 GLc«d Q 7t— (Corporate Seal) Corp rate Secretary EXHIBIT "A" Scope A. Determine the capital improvement needs for Sleepy Willow over the next five years. Identify cost effective improvements that could immediately increase the curb appeal, marketability and occupancy levels for Sleepy Willow to place it on par with other similar projects. Provide an itemized list of these improvements in priority ranking. The consultant will complete this task first, and provide the City a separate report on the findings. Also, consultant will establish a replacement reserve schedule over the next twenty (20) years to insure adequacy of the annual deposit to meet the needs of the project. It should be noted that in addition to the physical needs of the project, it is important to understand how the project is viewed by the community. If the project has a bad reputation, consultant will take action to change the perception from negative to positive. B. Develop a spreadsheet inventory of seven or eight competitive projects that compete with Sleepy Willow and evaluate Sleepy Willow in relation to these projects, in terms of rent structures, deposit requirements, services and amenities on site, location to transit, shopping and elementary and secondary schools, occupancy levels and other factors that might give a project the competitive edge in attracting and retaining tenants. In addition to the spreadsheet, consultant will provide narrative explanations for areas of concern or areas where improvements could me made for the subject project to become more competitive. C. The consultant will review property management and marketing/operations and make recommendations, if appropriate, that could improve the occupancy levels of the project. The consultant will look at the screening process of potential tenants, record keeping, organization, activities programs, vacancy history, and management's ability to work effectively with few dollars for project functions. Additionally, the consultant will interview management, management employees, tenants and responsible agencies to understand any deficiencies or to determine that management is in fact doing a good job of managing the project. D. The consultant will perform rent structure analysis as compared to other competing projects and make recommendations to the City and Housing Authority that could improve the financial performance of the project. E. The consultant will perform a financial analysis entailing the income, debt service, operating cost, cash flow, and break even point necessary for Sleepy Willow to be financially successful. The financial analysis will entail the past three years audited financials, current YTD financials and the replacement reserve analysis. Included in the analysis the consultant will contact all utilities, insurance agencies and taxing authorities to recognize any changes anticipated in the near future for the project. In addition, consultant will trend expenses and acknowledge one time expense items so they do not impact future expense analysis, and question any items that are "out of line" with projects of like size and complexity (examples of this may be the employments of 3 maintenance personnel when like projects operate with 2). In addition, consultant will review the O & M portion of the expenses to determine if "Capital' improvements are being made from Operations rather than through the Replacement Reserve for the project. After consultant is satisfied that the financials are representative of the project, consultant will determine the adequacy of NOI (Net Operating Income) for debt service purposes. Consultant will also determine appropriate debt service and amount of debt the project can support. F. Explore other creative approaches that would give Sleepy Willow the competitive edge over similar projects, such as converting one apartment unit for on -site day care, or community room with internet access and computers for tenants, or for on -site in -take and management or consider the construction of a 1500 square foot additional community room for tenant activities (the Housing Authority will provide cost estimates for the addition). The consultant will perform a cost -benefit analysis of each option and make recommendations for the option that could have the most impact on improving occupancy levels for Sleepy Willow. Consultant will conduct analysis of the market and competitive projects and make recommendations concerning the addition of a community room or the establishment of a Neighborhood Network for the project and investigate additional alternatives and additions that would serve to improve the projects appeal and vacancy. Consultant will investigate the possibility of receiving funds from outside sources for the Neighborhood Network or even the potential for sharing facilities with other surrounding projects. G. Explore the need for resident social services on site, such as case management, life skill activities, projects to improve standards of living for tenants and provide for services that could be of benefit for job placement or skills training. Additionally, consultant will investigate various services that are available and potential funding sources for such services. H. Research and provide national information on tenant preferences, specifically for affordable housing projects. Also, hold focus group meetings with Sleepy Willow residents and other tenants that declined this apartment complex, in order to get a better understanding of tenant preferences at Sleepy Willow. (Housing Authority will provide tenant lists). The consultant will evaluate tenant preferences at Sleepy Willow and make recommendations for a course of action. Consultant will work with the City and Housing Authority to develop a meaningful survey so meeting could be conducted in a manner that is not only informative but productive. I. Consultant will give weekly updates and project status to the City and Housing Authority both verbally and in writing. The format of this reporting will be determined via discussions with the City and Housing Authority. EXHIBIT "B" Work Schedule The timeframe expressed in the RFP of 30-45 days is aggressive for the scope of work required. It is our opinion that 60-75 days would be necessary in order to accomplish a thorough and accurate scope. Signet Partners will provide a "Draft" report NLT September 20, 2004. The timeframes below will be estimates for the "Draft" completion only. Please note that the tenant survey portion of the proposal may take a longer timeframe for completion 1. Determine Capital needs — 30 Days 2. Develop inventory of competitive projects with analysis — 45 days 3. Review Property management — 30 days 4. Perform rent structure analysis — 45 days 5. Perform financial analysis — 30 days 6. Explore alternative improvements to attract tenants — 60 days 7. Perform tenant surveys — 60 days The above timeframes are to complete analysis in "Draft" format, 15 to 30 days should be added for the "Final' presentation to the City and Housing Authority with appropriate changes via discussions with the City and Housing Authority. NOTE: Every effort will be made to complete the tenant surveys and focus groups within a 45 day timeframe.