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HomeMy WebLinkAbout2017 CON SA NHA Advisors - Municipal Advisory Services - Amendment #1FIRST AMENDMENT TO AGREEMENT - BY AND BETWEEN THE SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY AND NHA ADVISORS, LLC, FOR MUNICIPAL ADVISORY SERVICES THIS FIRST AMENDMENT TO AGREEMENT is entered into this 7th day of February, 2017, by and between the Successor Agency to the Community Development Commission as the National City Redevelopment Agency, a political subdivision of the State of California (the "SUCCESSOR AGENCY") and NHA ADVISORS, LLC, a California limited liability company (the "CONSULTANT'). RECITALS A. The SUCCESSOR AGENCY, at their meeting of January 17, 2017, authorized the Executive Director to execute an Agreement with NHA Advisors, LLC, to provide municipal advisory services through December 31, 2019, with two additional one-year options; and B. The parties have agreed to amend Subsections "A" and "C" of Section 17 of the Agreement pertaining to Professional Liability and Commercial General Liability insurance coverage, and to add Subsection "J" to Section 17 of the Agreement pertaining to the periodic adjustment of limits of insurance coverage. NOW, THEREFORE, THE PARTIES HERETO AGREE that the Agreement entered into on January 17, 2017, shall be amended as follows: '1. Section A of Section 17, Insurance, is amended to read as follows: A. /ZI If checked, Professional Liability Insurance (errors and omissions) with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate. 2. Subsection C of Section 17, Insurance, is amended to read as follows: C. Commercial General Liability Insurance, with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate, covering all bodily injury and property damage arising out of its operations under this Agreement. The policy shall name the SUCCESSOR AGENCY and its officers, agents, employees, and volunteers as additional insureds, and a separate additional insured endorsement shall be provided. The general aggregate limit must apply solely to this "project" or "location". 3. Subsection J is added to Section 17, Insurance, to read as follows: J. The Executive Director or their designee may periodically review the insurance coverage required to be carried by the CONSULTANT. If the Executive Director or their designee determines that higher limits are necessary to protect the interests of the SUCCESSOR AGENCY or the Additional Insureds, the CONSULTANT shall be so notified and shall obtain the additional limits of insurance at its sole cost and expense. THE PARTIES FURTHER AGREE that with the foregoing exceptions, each and every provision of the Agreement entered into on January 17, 2017, shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to Agreement on the date and year first above written. SUCCESSOR AGENCY TO THE NHA ADVISORS, LLC COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY By: By on Morrison, Chairman APPROVED AS TO FORM: imp George H. Eiser, III Interim Successor Agency Counsel Craig Hill, Principal First Amendment to 2017 Agreement 2 Successor Agency Advisory Services and NHA Advisors RESOLUTION NO. 2017 — 86 RESOLUTION OF THE SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY AUTHORIZING THE CHAIRMAN TO EXECUTE A FIRST AMENDMENT TO AGREEMENT WITH NHA ADVISORS, LLC, FOR MUNICIPAL ADVISORY SERVICES FOR THE PERIOD JANUARY 17, 2017 THROUGH DECEMBER 31, 2019 WITH TWO ADDITIONAL ONE-YEAR OPTIONS WHEREAS, the Board of the Successor Agency to the Community Development Commission as the National City Redevelopment Agency, adopted Resolution No. 2017-82 at their meeting of January 17, 2017, authorizing the Executive Director to execute an Agreement with NHA Advisors, LLC, to provide municipal advisory services through December 31, 2019, with two additional one-year options; and WHEREAS, the parties have agreed to amend Subsections "A" and "C" of Section 17 of the Agreement pertaining to Professional Liability and Commercial General Liability insurance coverage, and to add Subsection "J" to Section 17 of the Agreement pertaining to the periodic adjustment of limits of insurance coverage. NOW, THEREFORE, BE IT RESOLVED that the Successor Agency to the Community Development Commission as the National City Redevelopment Agency hereby authorizes the Chairman to execute a First Amendment to Agreement with NHA Advisors, LLC, to amend Subsections "A" and "C" of Section 17 of the Agreement pertaining to Professional Liability and Commercial General Liability insurance coverage, and to add Subsection "J" to Section 17 of the Agreement pertaining to the periodic adjustment of limits of insurance coverage. PASSED and ADOPTED this 7th day of February . Morrison, Chairman ATTEST: s/ Mic ael R. Dalla, ity Clerk as Secretary to the Successor Agency APPROVED AS TO FORM: George H. Eiser, III Interim Successor Agency Counsel 0 Passed and adopted by the Successor Agency to the Community Development Commission as the Redevelopment Agency of the City of National City, California, on February 7, 2017 by the following vote, to -wit: Ayes: Boardmembers Cano, Mendivil, Morrison, Rios, Sotelo-Solis. Nays: None. Absent: None. Abstain: None. AUTHENTICATED BY: RON MORRISON Chairman of the Successor Agency to the Community Development Commission as the Redevelopment Agency of the City of National City, California City Clerk Servinas Secretary to the Successor Agency By: Deputy I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 2017-86 of the Successor Agency to the Community Development Commission as the Redevelopment Agency of the City of National City, California, passed and adopted on February 7, 2017. City Clerk Serving as Secretary to the Successor Agency By: Deputy THE SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY AGENDA STATEMENT MEETING DATE: February 7, 2017 AGENDA ITEM NO. 4 ITEM TITLE: Resolution of the Successor Agency to the Community Development Commission as the National City Redevelopment Agency 1) authorizing the Chairman to execute the First Amendment to the Agreement by and between the Successor Agency and NHA Advisors, LLC for municipal advisory services, decreasing the minimum required limits for commercial general liability insurance and professional liability ("errors and omissions") insurance to $1 million per occurrence and $2 million aggregate with the provision the Successor Agency reserves the right to review and require higher professional liability insurance limits for certain engagements; and 2) directing staff to submit the agreement to the Oversight Board for its consideration and approval. PREPARED BY: Mark Roberts, Director of Finance DEPARTMENT: Succ r A PHONE: 619-336-4265 APPROVED BY• EXPLANATION: The Successor Agency entered into an agreement with NHA Advisors LLC on January 17, 2017 for municipal advisory services for the Successor Agency. The minimum commercial general liability insurance limits required to be maintained by NHA Advisors by the agreement are $2 million per occurrence and $4 million aggregate. The minimum professional liability ("errors and omissions") insurance limit required is $5 million per occurrence. After additional review of the agreement, staff has determined the required insurance limits stated are incorrect. Therefore, staff seeks to amend the agreement to decrease each of the minimum required limits to $1 million per occurrence and $2 million aggregate with the provision the Successor Agency reserves the right to review and require higher professional liability insurance limits for engagements deemed by the Successor Agency to pose greater than normal risk. FINANCIAL STATEMENT: ACCOUNT NO. APPROVED: MIS See attached staff report. Expenses may be paid from various accounts. ENVIRONMENTAL REVIEW: This is not a project and, therefore, not subject to environmental review. APPROVED: L7,17.4.4 X41.444 Finance ORDINANCE: INTRODUCTION: FINAL ADOPTION: STAFF RECOMMENDATION: Adopt the resolution, authorizing the Chairman to execute the First Amendment to the Agreement with NHA Advisors, LLC and directing staff to submit the First Amendment to the Agreement to the Oversight Board for its consideration and approval. BOARD / COMMISSION RECOMMENDATION: NA ATTACHMENTS: 1. NHA Advisors, LLC agreement amendment 2. Resolution i%R.saA,VNItou iso• aa%II- %6 FIRST AMENDMENT TO AGREEMENT BY AND BETWEEN THE SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY AND NHA ADVISORS, LLC, FOR MUNICIPAL ADVISORY SERVICES THIS FIRST AMENDMENT TO AGREEMENT is entered into this 7th day of February, 2017, by and between the Successor Agency to the Community Development Commission as the National City Redevelopment Agency, a political subdivision of the State of California (the "SUCCESSOR AGENCY") and NHA ADVISORS, LLC, a California limited liability company (the "CONSULTANT"). RECITALS A. The SUCCESSOR AGENCY, at their meeting of January 17, 2017, authorized the Executive Director to execute an Agreement with NHA Advisors, LLC, to provide municipal advisory services through December 31, 2019, with two additional one-year options; and B. The parties have agreed to amend Subsections "A" and "C" of Section 17 of the Agreement pertaining to Professional Liability and Commercial General Liability insurance coverage, and to add Subsection "J" to Section 17 of the Agreement pertaining to the periodic adjustment of limits of insurance coverage. NOW, THEREFORE, THE PARTIES HERETO AGREE that the Agreement entered into on January 17, 2017, shall be amended as follows: 1. Section A of Section 17, Insurance, is amended to read as follows: A. ® If checked, Professional Liability Insurance (errors and omissions) with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate. 2. Subsection C of Section 17, Insurance, is amended to read as follows: C. Commercial General Liability Insurance, with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate, covering all bodily injury and property damage arising out of its operations under this Agreement. The policy shall name the SUCCESSOR AGENCY and its officers, agents, employees, and volunteers as additional insureds, and a separate additional insured endorsement shall be provided. The general aggregate limit must apply solely to this "project" or "location". 3. Subsection J is added to Section 17, Insurance, to read as follows: J. The Executive Director or their designee may periodically review the insurance coverage required to be carried by the CONSULTANT. If the Executive Director or their designee determines that higher limits are necessary to protect the interests of the SUCCESSOR AGENCY or the Additional Insureds, the CONSULTANT shall be so notified and shall obtain the additional limits of insurance at its sole cost and expense. THE PARTIES FURTHER AGREE that with the foregoing exceptions, each and every provision of the Agreement entered into on January 17, 2017, shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to Agreement on the date and year first above written. SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY By: Ron Morrison, Chairman APPROVED AS TO FORM: George H. Eiser, III Interim Successor Agency Counsel NHA ADVISORS, LLC By: Craig Hill, Principal First Amendment to 2017 Agreement 2 Successor Agency Advisory Services and NHA Advisors RESOLUTION NO. 2017 — RESOLUTION OF THE SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION AS THE NATIONAL CITY REDEVELOPMENT AGENCY AUTHORIZING THE CHAIRMAN TO EXECUTE A FIRST AMENDMENT TO AGREEMENT WITH NHA ADVISORS, LLC, FOR MUNICIPAL ADVISORY SERVICES FOR THE PERIOD JANUARY 17, 2017 THROUGH DECEMBER 31, 2019 WITH TWO ADDITIONAL ONE-YEAR OPTIONS WHEREAS, the Board of the Successor Agency to the Community Development Commission as the National City Redevelopment Agency, adopted Resolution No. 2017-82 at their meeting of January 17, 2017, authorizing the Executive Director to execute an Agreement with NHA Advisors, LLC, to provide municipal advisory services through December 31, 2019, with two additional one-year options; and WHEREAS, the parties have agreed to amend Subsections "A" and "C" of Section 17 of the Agreement pertaining to Professional Liability and Commercial General Liability insurance coverage, and to add Subsection "J" to Section 17 of the Agreement pertaining to the periodic adjustment of limits of insurance coverage. NOW, THEREFORE, BE IT RESOLVED that the Successor Agency to the Community Development Commission as the National City Redevelopment Agency hereby authorizes the Chairman to execute a First Amendment to Agreement with NHA Advisors, LLC, to amend Subsections "A" and "C" of Section 17 of the Agreement pertaining to Professional Liability and Commercial General Liability insurance coverage, and to add Subsection "J" to Section 17 of the Agreement pertaining to the periodic adjustment of limits of insurance coverage. PASSED and ADOPTED this 7th day of February, 2017. Ron Morrison, Chairman ATTEST: Michael R. Dalla, City Clerk as Secretary to the Successor Agency APPROVED AS TO FORM: George H. Eiser, III Interim Successor Agency Counsel CITY OF NATIONAL CITY Office of the City Clerk 1243 National City Blvd., National City, California 91950-4397 619-336-4228 Michael R. Dalla, CMC - City Clerk February 21, 2017 Mr. Craig Hill NHA Advisors, LLC 4040 Civic Center Drive, Suite 200 San Rafael, CA 94903 Dear Mr. Hill, On February 7th, 2017, Resolution No. 2017-86 was passed and adopted by the Successor Agency to the Community Development Commission as the National City Redevelopment Agency, authorizing execution of a First Amendment to an Agreement with NHA Advisors, LLC. We are enclosing for your records a certified copy of the above Resolution and a fully executed original Amendment. Sincerely, Michael R. Dallla, CMC City Clerk Enclosures