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Keyser Marston Associates,%0 Develop ors.iif%oc As BERKELEY LOS ANGELES SAN DIEGO SAN RAFAEL KEYSER MARSTON A S S O C I A T E S March 22, 2026 Oscar Mojica, Deputy City Clerk City of La Quinta 78495 Calle Tampico La Quinta, California 92253 RE: RFQ— On -Call Economic Development Consulting Services Dear Mr. Mojica: Keyser Marston Associates, Inc. (KMA) is pleased to submit our qualifications to provide on call Economic Development Services to the City of La Quinta. Since 1973, KMA has provided a full range of real estate advisory services to public and private sector participants in real estate development. For purposes of both the response to the RFQ and as Principal -in -Charge of this assignment, the firm's primary contact will be: Kevin Engstrom, Senior Principal Keyser Marston Associates, Inc. 777 South Figueroa St., Suite 2555 Los Angeles, CA 90017 (213) 622-8095 ken gstrom @keysermarston. com KMA has offices in San Diego, Los Angeles, Berkeley, and Larkspur. Staff in the Los Angeles office would perform work for the City of La Quinta. All information and pricing provided in this proposal is valid for at least ninety (90) days. Any individual who will perform work for the City is free of any conflict of interest. We look forward to the opportunity to assist the City in the future. If you require any additional information, please do not hesitate to contact us. Sincerely, KEYSER MARSTON ASSOCIATES, INC. )9 Kevin Engstrom 777 S. FIGUEROA STREET, SUITE 2555 0 LOS ANGELES, CA 90017 9 (213) 622-8065 9 WWW.KEYSERMARSTON.COM City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 Table of Contents Cover Letter 1 Firm Background and Statement of Qualifications 1 2 Experience and References 5 3 Pricing 8 4 Complementary Services 8 5 Staffing and Project Organization 9 6 Subcontracting Services 16 7 Disclosures 16 8 Explanation of Methodology 16 9 Required Forms and Standard Agreement Acknowledgement of Insurance Requirements Non -Collusion Affadavit Acknowledgement of Addenda 22 23 24 25 City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 1. FIRM BACKGROUND AND STATEMENT OF QUALIFICATIONS Firm Background KMA is a full -service real estate, financial, housing, and economic consulting firm specializing in real estate advisory and evaluation services, and financial analyses. The firm's public -sector clients include nearly every major municipality in California, as well as counties, ports, special districts, universities, and former military bases. KMA is known for its full range of real estate services providing creative, pragmatic solutions to complex urban develop- ment challenges. Our practice areas include: The majority of KMA's assignments involve long-standing client relationships. Current notable public sector clients include the Cities of Palm Desert, San Bernardino, Los Angeles, Long Beach, Anaheim, Manhattan Beach, Torrance, Palo Alto, San Francisco, and San Diego, among many others. KMA provides consulting services on projects of differing scales including the negotiation of some of the most catalyt- ic projects in California: the Metropolis Project in Los Angeles, Anaheim Convention Center Hotels, DSRT Surf in Palm Desert, Oracle Park in San Francisco, and the Grand Avenue Joint Powers Authority Mixed Use Project. KMA is equally effective in projects of smaller scale including an analysis of development opportunities for the Civic Center redevelop- ment in El Segundo, Anaheim Packing House, the Shoppes at Chino Hills and the redevelopment of the VallCo Center in Cupertino. In addition, the firm has conducted market and fiscal analyses for cities, counties, Universities, water districts and private entities throughout the Coachella Valley, Los Angeles County, Orange County and the Inland Empire. The increased complexities of real estate and ground lease transactions demand a strong technical understanding of real estate and financing markets as well as a keen understanding of California laws that affect the disposition of public property. The firm is unique among other real estate consulting firms by possessing this specific combination of skills. The combined knowledge and expertise in these areas has resulted in KMA's ability to provide services which not only comply with the current policies and practices pertaining to local development, but which are also based on a funda- mental understanding of real estate markets, valuation, and financing. For more information about KMA, please visit our website at www.keysermarston.com. City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 Experience KMA has over 50 years of experience assisting clients throughout the West in real estate market and evaluation services, negotiation services, structuring public/private transactions, community benefits analyses, affordable housing policies, and project implementation services. Cost Effectiveness KMA is able to be cost effective for our clients given our ability to provide comprehensive services relating to market and financial feasibility, economic analysis, direct implementation experience and public finance without the need for multiple consultants. Commitment KMA offers the commitment of principals who are recog- nized leaders in real estate advisory services throughout California. Our philosophy and structure results in clients having maximum direct contact with the firm's principals. Requested Information (a) Number of years in business: 53 (b) Taxpayer identification number: 94-2363741 (c) Number of years providing economic development consulting: 53 (d) Resumes of the Project Manager and key personnel who will be responsible for performance if any agreement results from this RFQ: A list of staff and their resumes are provided in Section 5, Staffing. (e) Firm ownership and if incorporated, list the state in which the firm is incorporated and the date of incorpora- tion: KMA was incorporated in the State of California in 1976. It is a corporation, wholly owned by principals of the firm. (f) If the firm is a subsidiary of a parent company, identify the parent company: NA (g) Experience with similar work, including specific pro- jects) names and related references: KMA's service areas and examples of relevant project experience are provided on the following pages of this section. (h) Experience with municipal governmental agencies: As described on the following pages, the majority of KMA's hundreds of clients are municipal governmental agencies. City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 Statement of Qualifications KMA Services Areas Descriptions of KMA's real estate and economic devel- opment consulting services that are pertinent to the City engagement follow: 1.11e1(IN 111:1111414C,V/14*1 Market Feasibility Assessment KMA has undertaken real estate feasibility studies to help clients identify the market demand for specific or alter- native land uses. This analysis is utilized as an essential component in a client's strategic land planning process. Specifically, the Los Angeles office has prepared numerous commercial, industrial, retail, and housing market oppor- tunity assessments, and has assisted public agencies in the identification and implementation of mid- to long-term revitalization plans. Many of these analyses have been conducted in support of specific plan activities. Project Financial Evaluation KMA's formidable expertise in pro forma analysis has been employed by clients to evaluate the financial feasibility of a wide range of projects. Financial feasibility analysis pro- vides clients with a clear perspective on private sector de- velopment economics for proposed projects. This service is a key factor in identifying the need for, and extent of, public investment. Land uses within our expertise include a variety of mixed -use projects, hotel, office, all forms of re- tail, industrial, airport -related commercial, market -rate and affordable housing, automobile dealerships, entertainment oriented sports and convention centers, and transit orient- ed regional and local uses. As appropriate, these analyses include both static and discounted cash flow approaches. Disposition/Owner Participation/Ground Lease Consulting KMA's disposition services include assisting clients with the preparation of developer solicitation documentation, analysis of development proposals, developer selection, participation in negotiations, and assistance with transac- tion structuring. If requested, KMA takes an active role in the negotiation process, a role which has led to hundreds of final Disposition and Development Agreements, Owner Participation Agreements, and Development Agreements. KMA also advises clients regarding financial structuring utilizing its expertise in the deployment of public revenue funding sources, including Mello -Roos financing, parking revenue bonds, Certificates of Participation, Section 108 loans, and other grants and loans, including the use of developer advances. KMA also has unparalleled experience in the negotiation of ground leases between the public and private sectors. Fiscal Impact Analyses KMA has developed extensive experience in fiscal/econom- ic impact analysis, specifically in the assessment of revenue and cost impacts to public entities as a result of proposed development or implementation plans. The analyses eval- uate capital costs, and annual ongoing revenue and service cost impacts, as well as an evaluation of employment and income effects. KMA has completed a number of assign- ments evaluating the financial consequences of public vs. private ownership of public facilities, and other infrastruc- ture improvements. Economic Benefit and Site -Specific Revenue Analysis KMA's array of services includes assessment of site -spe- cific public revenues which can also include evaluations of population, employment, and income effects. KMA has provided site -specific revenue analyses for projects rang- ing from small infill developments to significant catalytic redevelopment projects. City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 4 Development Agreements/Entitlement Strategies KMA assists clients in the creation of specific plans, down- town plans, and incentive zoning programs. As part of this process, KMA assists jurisdictions in preparing value enhancement analyses to be used as one metric in the imposition of community benefits requirements on proper- ties being considered for zoning modifications. Disposition Documentation Reports KMA utilizes its knowledge and technical skills to prepare the specific analyses required by the California Govern- ment Code (Code). Code Sections 52201 and 53083 specify the reporting requirements when public agencies dispose of properties for economic development purposes or pro- vide financial assistance to projects. KMA provides clients with a financial analysis that identifies the reuse valuation of public land holdings and/or costs and benefits associat- ed with financial assistance. KMA then prepares a written analysis that meets the requirements of Code Sections 52201 and 53083 and is frequently utilized in support of presentations to executive boards and City Councils. Specialized Services Targeted to Product Types KMA has extensive experience in analyzing the usual product types of residential, commercial, industrial, and hospitality uses. In addition, KMA also has a long track record providing financial analysis services for transit -ori- ented development projects, a wide -range of mixed -use projects, airport -related commercial, automobile dealer- ships, parking garages, and entertainment -oriented sports and convention centers, as well as transit -oriented regional and local uses. ECONOMIC DEVELOPMENT SERVICES Revitalization Strategies KMA has undertaken numerous revitalization studies for public clients. Based on sound and in-depth analysis of market conditions, KMA develops strategies that empha- size implementation. The analyses of market conditions include demographic trends, employment patterns, com- mercial activities and leakage of retail sales to neighboring communities. From these analyses, KMA is able to assist clients in formulating and implementing economic revital- ization strategies through the development of a targeted industry retention and attraction program. Business Incentive Programs KMA has evaluated various business retention mecha- nisms, including sales tax rebates, property tax rebates, utility tax discounts, and direct financial assistance. KMA also advises Business Improvement Districts (BIDS) on commercial revitalization programs through the design of positioning and repositioning strategies, through the iden- tification of market potential and niche opportunities, and strategies to retain and attract specific tenants. We assist in negotiations with property owners, brokers, prospective retailers, and local officials, as well as assisting with the structuring of funding programs. Tenant Identification and Recruitment Based upon an in-depth analysis of market potential and representation of existing tenants, KMA assists public agencies in formulating strategic tenant recruitment plans. Through the contacts KMA has established from our pri- vate sector clients, KMA can identify tenant interests and assess their potential fit in the marketplace. Strategic Plans for Retail, Commercial & Industrial Uses KMXs economic development services include identifying the optimal mix of retail, commercial, and industrial uses. Our expertise in this area has been particularly effective for defense and military base conversion projects, as well as industrial use conversions. KMA advised the City of Long Beach with respect to the conversion of a 260-acre former manufacturing facility to modern commercial uses (Douglas Park) and is working with the City of Los Angeles to preserve and retain its industrial economic base. KMNs services have assisted public sector clients in formulating policies that maximize future public revenue potential while maintaining an appropriate land use balance. City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 2. EXPERIENCE AND REFERENCES Examples of KMA's long standing relationships with clients for whom we provide similar services are presented on the following pages, along with references for the work. Economic Services for Commercial and Residential Projects City of Long Beach, CA Contact KMA provides ongoing assistance to the City on a variety of real estate projects Mary Frances Torres, SR/WA ranging from large scale retail entertainment projects, repositioning of retail Real Estate Development Bureau centers, industrial and marina ground leases and hotels. KMA served as the real Manager estate member of the negotiating team for the development of the Pike retail Economic Development Dept project at Queensway Bay. The Pike was developed by Oliver McMillan and 411 W. Ocean Blvd. 10th Floor Developer Diversified Realty. The development is on a State Tidelands lease and Long Beach, CA 90802 development assistance was provided through a public financing of the parking 562.570.6846 structure. Mary.Torres@longbeach.gov KMA has assisted the City evaluating the financial feasibility of numerous hotel Meggan Sorensen projects, including a review of market projections, development costs, operating Bureau Manager parameters, public revenue projections and feasibility gaps. Working with the City, Community Development the findings of the KMA analyses were utilized to structure subsidy programs to Housing & Neighborhood Services promote project feasibility. The City also has a large holding of leased properties in Bureau the Tidelands, Alamitos Bay, around Long Beach Airport and at other locations in 411 W. Ocean Blvd., 3rd Floor the City. KMA works with the Economic & Property Development Department to Long Beach, CA 90802 evaluate the leases, participate in the rent renegotiation process and evaluate lease 562.570.5269 extension requests. Projects are as diverse as office building complexes, industrial Meggan.Sorensen@longbeach.gov buildings, flight operation buildings, yacht clubs, marine service yards as well as retail, restaurant and hotel projects (e.g. Breakers Hotel, American Life Hotel). KMA also works with the City's Housing Department to evaluate and negotiate transactions in the downtown area and throughout the City. Most recently, KMA conducted an inclusionary housing feasibility study for the City, which included evaluating the financial feasibility of on -site and in -lieu fee requirements and the impacts created by the imposition of affordable housing requirements. Vim- 0 City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 On-Call/General Services City of Anaheim and the Successor Agency to the Anaheim Redevelopment Agency, CA Contact KMA has provided ongoing advisory services to the City since the late 1970's Sergio M. Ramirez for a variety of real estate and capital improvement projects, as well as Economic Development Director economic development and affordable housing consulting. City of Anaheim 200 S. Anaheim Boulevard Services to the City include market evaluation and feasibility analyses for a Anaheim, CA 92805 variety of land uses. In recent years KMA evaluated market opportunities for 714.765.4627 Anaheim's major corridors, including a review of residential, office, retail and sramirez@anaheim.net hotel market conditions which identify the types of development best suited for the area given immediate and long-term demand. KMA then prepared a series of development programs that included a mix of commercial and residential prototypes, and evaluated the feasibility of projects at varying levels of development intensity. The analysis identified the density levels required to effectuate the development and redevelopment of catalytic sites along the Corridors. KMA has recently been assisting the City in the disposition process for parcels that are subject to the Surplus Land Act. The KMA role is to assist the City in identifying a strategy for the site's development, preparing the exemption resolution, the Notice of Availability and the Request for Proposals. KMA also assists in evaluating the proposals that are submitted, and participates in the negotiations process with the selected developer. A small sample of additional recent projects includes the preparation of a community based specific plan for the West Anaheim area, the Gardenwalk, JW Marriott Hotel, the Anaheim Doubletree Hotel, the Packing House Redevelopment and Residential Project, Downtown Anaheim and the ARTIC station. For these projects, KMA reviewed the projected development costs, operating costs and operating parameters, and assisted the City throughout the negotiation process. KMA acted as the principal real estate advisor to City, helping to structure public -private partnerships which included providing financial assistance to the projects. City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 Real Estate and Housing Services City of Palm Desert, CA Contact KMA provides ongoing assistance to the City on a variety of real estate projects Martin Alvarez ranging from large scale entertainment projects, repositioning of retail centers, Director of Economic Development mixed use developments, residential and hotels. KMA has assisted the City 73510 Fred Waring Drive evaluating the financial feasibility of numerous hotel projects, including a review Palm Desert, CA 92260 of market projections, development costs, operating parameters, public revenue 760.776.6384 projections and feasibility gaps. Recent projects include the Desert Surf Wave malvarez@palmdesert.gov Park where KMA evaluated the feasibility of a proposed wave park, luxury hotel and residential development. The analysis included a review of development costs, operating costs and return requirements for the wave park, hotel and for -sale residential in the development. Other recent projects have included a fiscal analysis of a proposed large-scale annexation by the City, public revenue projections for in support of community facility districts, and hotel feasibility analyses. Included in these projects is the recently opened El Paseo Hotel, where KMA evaluated the underlying market conditions, prepared cost estimates, evaluated project feasibility, prepared public revenue projections and helped structure a subsidy program to implement the development of a luxury hotel that opened adjacent to the City's El Paseo retail district. KMA also works with the City's Housing Authority to evaluate and negotiate affordable housing transactions throughout the City. Most recently, KMA conducted several financial gap analyses for multifamily projects that requested below market rate land transactions and/or low and moderate income housing asset funds for financial assistance. KMA also assisted with the construction loan and land transaction closings for two recent projects that are under construction. City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 8 3. PRICING The fee schedule provided below is the standard KMA hourly fee schedule for the staff members proposed to conduct work for the City of La Quinta. Chairman, President, Managing Principals* $305 Senior Principals* $295 Principals* $275 Managers* $245 Senior Associates $205 Associates $185 Senior Analysts $170 Analysts $145 Technical Staff $105 Administrative Staff $90 4. COMPLEMENTARY SERVICES Directly related job expenses not included in the above rates are: auto mileage, parking, air fares, hotels and motels, meals, car rentals, taxis, telephone calls, delivery, electronic data processing, graphics and printing. Directly related job expenses will be billed at 110% of cost. Monthly billings for staff time and expenses incurred during the period will be payable within thirty (30) days of invoice date. * Rates for individuals in these categories will be increased by 50% for time spent in court testimony. KMXs offers the following services, as detailed in our Firm Background, in Section 1. The fee schedule listed above ap- plies to all of KMA's work, in all services areas. City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 5. STAFFING AND PROJECT ORGANIZATION KMA's Los Angeles office is managed by Kathleen Head and includes three additional Senior Principals. Each KMA prin- cipal has a specific area of expertise that allows the firm to provide services in all aspects of public finance, real estate consulting, economic development, and affordable housing services. Summaries of the KMA Los Angeles staff members that may assist the City are provided below, with full resumes following. Mr. Engstrom specializes in real estate market feasibility and financial feasibility services. For • over 25 years, Mr. Engstrom has assisted numerous public agencies with a full range of services • • • relating to hotel development, strategic planning, market analyses, ground leases, reuse analy- ses, highest and best use studies, and developer selection services. Ms. Head has been with KMA since 1983, and she manages the housing related services per - Kathleen Head formed by the Los Angeles office. Ms. Head also provides public sector clients with real estate economic analyses for a wide variety of land uses. Ms. Head's specific areas of expertise are affordable housing transaction structuring and program creation; community benefits analyses • • • • related to projects requesting zoning modifications; and public/private joint development trans- actions. Ms. Romey has over 30 years of real estate and affordable housing experience. Ms. Romey has had a role in structuring development agreements, affordable housing strategies, HOME Pro- gram policies and procedures manuals, preparing HOME Layering Analyses, and monitoring af- fordability restrictions and loan agreements. She also assists Successor Agencies with shut down, long range property management plans, and SB 341 issues. In addition, she assisted Pasadena and Glendale with structuring transactions that utilize the New Markets Tax Credit program in financing residential ownership projects. Mr. Bretz has been with KMA since 2008. He has assisted a number of public agencies with real estate and economic analysis assignments. Mr. Bretz has performed feasibility, market, commu- Tim Bretz benefits, and reuse analyses for residential, mixed -use, hotel, office, and industrial projects. Senior• • He analyzes residential projects with affordability components and is familiar with Tax Credits, Tax -Exempt Bonds, Property Tax Increment Housing Set -Aside funds, and HCD affordable housing funding sources. Ms. Holt joined KMA in 2017 with a background in asset management, economic and market analysis, and land use planning. Ms. Holt's work at KMA focuses on affordable housing studies Courtneyand nexus analyses, market and demographic studies, HOME Program policies and procedures, Manager and affordable housing monitoring and compliance review. Prior to joining KMA, she assisted public sector clients in the creation of hybrid zoning codes and enhanced development standards to spur economic revitalization. • Mr. Koyanagi has been with KMA since March 2022. He has assisted with market studies and • affordable housing feasibility studies for several jurisdictions across California. City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 10 KEYSER MARSTON g S S o c I A T Years in the Industry 25+ KEVIN ENGSTROM Mr. Engstrom is a Senior Principal in KMA's Los Angeles office. For 20 years, he has provided public and private clients with real estate and financial expertise. Key Role Mr. Engstrom has provided public and private clients with real estate and financial expertise including market and financial feasibility studies, fiscal impact analyses, economic revitalization consulting, financial modeling, developer selection, and disposition consulting. Market and Feasibility Studies Mr. Engstrom has conducted a number of market and feasibility studies for cities throughout California, including the counties of Orange, Los Angeles, Riverside, San Bernardino, Ventura, and Fresno. For these analyses, Mr. Engstrom assessed current market conditions; projected future demand for residential, retail, office, industrial, and hotel development; tested the financial feasibility of prototypical projects; prepared fiscal impact projections; and created implementation strategies. Projects have included general plan updates, specific plans, master plans, corridor studies, economic development strategies, and highest and best use analyses. Disposition Consulting Mr. Engstrom has consulted in all areas of the disposition process for surplus properties for public agencies. His experience includes project planning, preparing and evaluating Requests for Proposals/Qualifications, developer selection, negotiation support, and financial feasibility analyses for cities throughout Southern California, including Los Angeles, Anaheim, Brea, Glendale, Long Beach, Poway, Pasadena, Moorpark, Palm Desert, San Juan Capistrano, and San Bernardino. Market and Financial Services for Hotel Projects Mr. Engstrom has provided consulting services for over 75 hotel projects throughout California, including the Olympic North Hotels, Beverly Hills Montage, Huntington Beach Grand Hyatt, Anaheim Doubletree, and the Glendale Embassy Suites. The analyses have included market assessments, financial feasibility analyses, public revenue projections, review of EB-5 financing strategies, and the development of financial assistance programs. Professional Credentials Mr. Engstrom earned his Bachelor's degree from Villanova University and his Master's degree from the University of Arizona. For over five years, Mr. Engstrom instructed the Basic Pro and Advanced Pro Forma Class at the CRA's Redevelopment Institute in Southern California. He has taught at the American Planning Association California annual conference and has also served as an instructor at California State University -Fullerton in the Geography department. City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 11 KEYSER MARSTON A S S O C I A T E S Years in the Industry 40+ KATHLEEN H. HEAD Ms. Head is the President of Keyser Marston Associates, Inc. and the Managing Principal of the Los Angeles office. She joined the firm in 1983, and she provides public and private clients with real estate economic analyses for a wide variety of land uses. Key Role Ms. Head plays a key role in structuring affordable housing transactions, strategy development, policy analyses, and program creation for housing successors to former redevelopment agencies, cities, and counties throughout California. She also actively participates in crafting California legislative housing initiatives. During her tenure at KMA, Ms. Head has assisted more than 100 public sector clients throughout California, including Long Beach, Anaheim, Burbank, Culver City, Los Angeles, Pasadena, Huntington Beach, Santa Ana, and Costa Mesa. Affordable Housing Ms. Head advises clients in structuring a wide variety of affordable housing projects, with transactions ranging from the complex leveraging and layering of multiple funding sources for multi -phased mixed -use projects to the simple acquisition and rehabilitation of single buildings. Her involvement ranges from the initial creation of RFP/Qs for developer solicitation to the negotiation and implementation of the Affordable Housing Agreement that will guide the development. Development Agreements and Entitlement Strategies Ms. Head advises clients on development agreements and entitlement strategies for surplus properties and underutilized properties. She assists clients in the creation of specific plans, downtown plans, and incentive zoning programs. As part of this process, she assists jurisdictions in preparing value enhancement analyses to be used as one metric in the imposition of community benefits requirements for properties being considered for zoning modifications. Public/Private Commercial Development Ms. Head is recognized as an expert in real estate advisory services related to public/ private joint development transactions. She has assisted public sector clients throughout Southern California in the analysis and implementation of commercial, office, industrial, hotel, and mixed -use projects. Ms. Head's role in the disposition of properties includes project planning, preparation of RFQs/RFPs, developer selection, and transaction structuring. Professional Credentials Ms. Head holds Master's degrees in Business Administration and Urban Planning from UCLA and a Bachelor's degree in History from UCLA. She has taught courses related to Disposition and Development Agreements, the developer selection process, Advanced Affordable Housing and Inclusionary Housing, and is a frequent speaker at League of Cities, American Planning Association, and National Association of Housing and Redevelopment conferences. City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 12 JULIE ROMEY Julie Ramey is a Senior Principal in the Los Angeles office of Keyser Marston Associates, Inc. Julie provides public and private clients with real estate economic analysis, and with expertise in market rate and affordable housing in California. Key Role For more than 30 years, Julie has analyzed real estate projects on a market and site -specific level. In KMA's Los Angeles office, Julie has a role in structuring development agreements for projects in Anaheim, Brea, Irvine, Fullerton, Los Angeles, Long Beach, Pasadena, Carson, Huntington Beach, and Compton. Affordable Housing Transactions Throughout her career, Julie has been involved in analyzing residential projects with affordability components, with a majority of these projects utilizing the federal low income housing tax credit C I A T E program. Other funding sources Julie has experience with are low- and moderate -income housing A S S O A KEYSER N asset funds (LMIHAF), HOME funds, No Place Like Home, tax-exempt bonds, and other State of S California housing programs. Affordable Housing Strategies/Programs Julie works with Cities to ensure their housing programs are SB 341 compliant, including drafting a Years in template for the annual report that is used by most Housing Successors across the State of California. She has helped clients develop efficient homebuyer approval processes. She has assisted the Cities of the Industry Anaheim, Fullerton, and Huntington Beach with the ongoing monitoring of their affordable housing projects and qualifying homebuyers. 30+ Project Management Services Julie provides understaffed clients with project management services such as training housing department staff on affordable housing processes, assist at various levels of involvement with construction and permanent closings, including final underwriting, lender calls, managing the legal document process. Professional Credentials Julie holds a master's degree in real estate finance from Cornell University and a bachelor's degree in business administration from San Diego State University. She co -taught the "Planning and Economic Development Finance" class in the School of Policy, Planning and Development at USC for two years. She is a member of the Cornell Real Estate Council and a board member of California Association of Local Housing Finance Agencies (CAL-ALHFA). Ground Lease Transactions Julie has reviewed and negotiated ground leases for various jurisdictions. She has worked with developers, lenders and policy decision makers to establish terms that satisfy the requirements of all parties. In particular, Julie has assisted the City and County of Los Angeles to create policies for ground leasing affordable housing sites. Developer Selection Julie has reviewed numerous development proposals on behalf of governmental entities such as LACDA, LAHD, and the cities of Fullerton, Huntington Beach, Placentia, and Long Beach. Her role in the developer selection process includes preparing the RFP/RFQ/NOFA, reviewing the financial proposal and pro forma submitted by the proposers, scoring development proposals based on the RFP requirements, taking part in developer interviews, developing deal term sheets, attending negotiation meetings with staff, reviewing draft development agreements, and preparing financial analyses and presentations for decision makers. CSU Chancellor's Office Julie provided financial modeling services to CSU Monterrey Bay during the ground lease negotiations for a large mixed use project on campus. She is currently working with CSUF that analyzes the feasibility of providing employee affordable housing. Julie has also worked with CSUC in determining the feasibility of developing a site partially owned by the Campus and the City of Chico. City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 13 KEYSER MARSTON O C I A I E S Years in the Industry TIM BRETZ Tim Bretz is a Senior Principal in the Los Angeles office of Keyser Marston. Since joining the firm in 2008, Tim has provided public sector clients with real estate advisory services and economic analyses for a wide variety of land uses. Tim plays an active role in the firm's affordable housing practice. Key Role Tim is actively involved in the structuring of public -private real estate transactions, the selection of development teams for publicly -funded real estate projects, fiscal and economic impact analyses, project feasibility analyses, and affordable housing nexus studies. Tim also provides project management services to a number of clients. During his tenure in the Keyser Marston Los Angeles office, Tim has assisted more than 50 public sector clients including Anaheim, Long Beach, Los Angeles, Pomona, San Bernardino County, San Diego, Santa Ana, and West Hollywood. Real Estate Advisory Services Tim provides real estate advisory services to public sector clients throughout Southern California. These services involve a variety of land uses including residential, retail, office, hotel, industrial and mixed -use projects. Tim conducts market analyses, and prepares financial feasibility and value enhancement analyses. Tim provides advisory support to clients during the negotiations process for both disposition and development agreements, and ground leases. Community Benefits / Value Capture Analysis 15+ Tim assists jurisdictions in preparing value enhancement analyses to be used as one metric in the imposition of community benefits requirements on properties being considered for zoning modifications. Tim has prepared value enhancement analyses for residential, mixed -use, hotel and commercial projects throughout Southern California. Disposition Services Tim regularly assists clients in the disposition of publicly -owned properties. His involvement includes creating RFP/Q's, evaluating developer responses, interviewing development teams, and analyzing financial information. This assistance includes ensuring that the public agency's disposition process complies with Surplus Land Act requirements. Affordable Housing Services Tim has extensive experience advising clients on the structuring of a wide variety of residential and mixed -use projects with an affordable housing component. This expertise includes analyzing project feasibility for a range of project types, including projects that require the complex leveraging and layering of multiple funding sources. In addition, Tim prepares both residential and non-residential affordable housing nexus studies that comply with the Mitigation Fee Act. Professional Credentials Tim holds a Master of Planning degree from the University of Southern California and a Bachelor of Science degree in Biology from the University of California at San Diego. Tim teaches courses related to the structuring of public -private real estate transactions and affordable housing finance. He has also been engaged as an expert witness on affordable housing disposition and finance issues. City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 14 KEYSER MARSTON A T E 5 Years in the Industry 10+ COURTNEY HOLT Courtney Holt is a Manager in the Los Angeles office of Keyser Marston Associates, Inc. (KMA). She joined KMA in 2017 with a background in asset management, economic and market analysis, and land use planning. Key Role Ms. Holt's work at KMA focuses on affordable housing and nexus analyses, compliance with local, state and federal housing programs, market and demographic studies, and inclusionary housing studies and agreements for public sector clients. Affordable Housing Programs & Strategies Ms. Holt has assisted in the analysis of numerous affordable housing projects and studies in Los Angeles, Monterey, and Orange County. Past projects include the physical and financial assessment of public housing developments in the City and County of Los Angeles, affordable housing monitoring and compliance review, writing requests for proposals (RFP's) for the sale of City -owned properties, and reviewing and scoring affordable housing projects serving special needs populations for a variety of Los Angeles County funding sources, including the No Place Like Home Program, the Mental Health Housing Program, Section 8 Project -Based Vouchers, and Project -based Veterans Affairs Supportive Housing Vouchers. In addition, she has assisted cities with compliance to the regulatory requirements applicable to HOME -funded projects and written HOME Program Policies & Procedures manuals for the Cities of Orange and San Bernardino. Project Management Services Ms. Holt provides public sector clients with project management services for construction and permanent loan closings, including financial underwriting, management of the legal document process, participation in lender calls on behalf of the client, and assisting clients with unanticipated issues that arise during the closing process. Market Studies Ms. Holt has participated in preparing market demand analyses, economic studies, and demographic profiles for public sector clients around the Southern California region, including the cities of Anaheim, Irvine, Long Beach, San Bernardino, Whittier and Los Angeles, as well as Los Angeles and San Bernardino Counties. Professional Credentials Ms. Holt holds a Master of Planning degree and Real Estate Development certificate from the University of Southern California, and a Bachelor of Arts degree in International Studies from the University of Washington. She is currently a member of the American Planning Association (APA) and the Young Professionals Group at the Urban Land Institute (ULI), and previously served on ULI's Transit- Oriented Development Committee. City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 15 KEYSER MARSTON A S S O C I A T E S RYAN TUONG AN KOYANAGI Ryan Tuong An Koyanagi is an Associate in the Los Angeles office. He joined KMA in 2022 and has worked on a variety of projects ranging from permanent supportive housing to general plan updates. Areas of Specialization Economic Development Assist local governments and universities in identifying avenues for future growth through the preparation of studies evaluating existing conditions, opportunities and constraints in retail, office, industrial, residential and hospitality markets. Recent relevant projects include: • City of Chino — General Plan Update • City of Chico/California State University, Chico —Lost Park Redevelopment • California State University, Fullerton — 2039 Master Plan (Faculty Housing Plan) Real Estate Advisory Assist local governments in drafting and evaluating Requests for Proposals/ Qualifications for the development of surplus land. Recent relevant projects include: • City of Placentia —Baker Street Scattered Sites RFP/Q & Developer Selection • City of Beverly Hills— City Sites Affordable Housing RFP Evaluation Affordable Housing Assist local governments and agencies in tasks necessary for the development of affordable housing projects including the evaluation of developer pro formas, drafting of subsidy layering reviews, loan closing for affordable housing projects as well as evaluating the feasibility of inclusionary housing programs. Recent relevant projects include: • City of Redlands— Inclusionary Housing Evaluation • City of Santa Ana —Housing Authority Services (Westview House & WISE Place Permanent Supportive Housing) Professional Credentials Ryan has a B.A. in Geography and a Geographic Information Systems Certificate from California State University, Fullerton. City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 16 6. SUBCONTRACTING SERVICES KMA does not plan to utilize any subcontractors for the proposed work. 7. DISCLOSURES KMA is not involved in any significant prior or ongoing agreement failure, nor any civil or criminal litigation pending or within the last 5 years. 8. EXPLANATION OF METHODOLOGY KMA has developed a methodology and approach to ensure quality control for its real estate advisory services. A hall- mark of KMA's service delivery is the direct and constant involvement of the firm's principals in all KMA assignments. KMA has designated Kevin Engstrom as Principal -in -Charge for contract coordination and in the delivery of all services under this RFP. KMA's other principals will be available, as their special areas of expertise may be required. KMA will en- sure that all work products will be delivered on a timely basis, within the parameters dictated by accessibility to needed information. The following outlines KMINs methodology for approaching each project, including choosing the key personnel to work on each task and ensuring that all milestones are met: Each assignment is headed by one of the firm's experienced principals, selected based upon the particular skill set required for the assignment. The appropriate principal will review all work before submitting it to the client. For projects where a variety of skill sets are required (for example, a mixed use project that includes both affordable and market rate housing and a retail component), KMA will bring consulting principals within the firm with the particular expertise required for the assignment. The firm has created subgroups which include selected principals and senior staff, to ensure that the best practices and analytical tools are made available firmwide. These specialty groups meet on a regularly scheduled basis and include such areas as ground lease structuring, public finance, and affordable housing. KMA has developed a series of proprietary computer models to ensure a uniformity of approach and analysis. City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 17 Following is an outline of the steps that KMA may undertake in order to complete work that may be requested by the City. Please note that these steps are based on a typical scope of work and may be subject to change based on the nature of each analysis, the number of properties or sites identified by the City for analysis, the number of key staff dedicated to the project, and any additional services or meetings requested by the City in order to complete the project. A pro forma analysis is conducted to evaluate the feasibilty of a proposed project. The analysis includes an evalua- tion of project costs, revenues and anticipated returns. Based on the relationship of these factors, the feasibility of a project can be measured. If the feasibility of a project is in question, KMA will work with the City to identify implemen- tation opportunities for the proposed project. Land uses within KMA's expertise include mixed -use, retail, industrial, market rate and affordable housing, office, and hotel. This scope of work may include the following tasks: • Review project site plans and elevations to gain an understanding of the proposed development program • Identify comparable projects in the region to assess proposed quality level • Review project costs • Compare project costs to similar quality projects in the region • Estimate project costs, including direct/hard construction costs, indirect/soft costs and capitalized financing costs • Identify potential project tenants • Conduct market research to identify reasonable pricing and programming assumptions • Estimate project rents, sales prices and vacancy levels • Estimate project operating costs based on similar projects in the region • Evaluate project feasibility utilizing appropriate return hurdles • Identify appropriate method for measuring returns, including: Internal Rate of Return (IRR), Discounted Cash Flow Analysis, Stabilized Return on Costs and/or Return on Equity • Summarize project feasibility. If project is not feasible, KMA will: • Identify implementation tools to incentivize development and maintain economic health of the City • Evaluate the impact of alternative funding sources, including New Market Tax Credits, EB-S financing, Commu- nity Development Block Grant and other relevant opportunities • Identify opportunities for City and developer to engage in a public/private partnership • Assist in briefing senior management and/or preparation for City Council Meetings as requested • Meet with City Staff as requested • Provide other related services as requested by City City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 KMA will evaluate and summarize the market conditions effecting development opportunities in La Quinta. By collecting information from appropriate sources, KMA will have the data necessary to assess market demand and prepare accurate pro forma analyses of proposed projects. The market research allows KMA to participate in planning efforts, identify key land uses/industries with market support and provide the City with recommendations on feasible techniques and methods for financing real estate projects. This scope of work includes the following: • Summarize the existing socio-economic and business/employment characteristics of the market area population • Identify current productivity levels (e.g. retail sales) • Prepare surplus leakage analysis identifying retail tenant opportunities • Collect rent, vacancy and inventory data from industry sources • Collect land and building sales data for commercial properties • Contact brokers active in the market area to gain insights into potential tenants and real estate data • Identify rents, sales prices and vacancy levels for existing for -sale and rental residential • Summarize the characteristics of new residential projects including unit sizing, pricing, inventory and absorption schedules • Prepare demand projections for retail, office, industrial, residential and hotel uses • Identify potential tenants and market area voids • Identify key opportunity sites • Evaluate physical issues affecting viability of opportunity sites • Overall, KMA will help the City to understand existing market conditions, which will allow the City to best identify the strengths, weaknesses and opportunities for key development sites • Assist in briefing senior management and/or preparation for City Council Meetings as requested • Meet with City Staff as requested • Provide other related services as requested by City City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 19 A market analysis provides the basis for highest and best use analyses, in which KMA evaluates a range of land use alternatives and provides recommendations focused on maximizing economic viability of a site or opportunity area. Particular attention is given to identifying voids in the marketplace and the potential overbuilding of some types of spaces. For these analyses, KMA may consider a range of residential and non-residential uses as requested by the City. This scope of work includes the following: • Summarize the existing socio-economic and business/employment characteristics of the market area population • Conduct a detailed market study of the City and the market area's retail, office, industrial and residential markets, including demand projections and identification of near to mid-term development opportunities for various land uses • Contact brokers active in the market area to gain insights into potential tenants and real estate data • Identify potential tenants and market area voids • Identify key opportunity sites • Review existing economic, physical and regulatory barriers to identify potential development limitations and issues • Evaluate a range of land use alternatives for key opportunity sites under both existing and revised zoning condi- tions • Determine depth of market demand, likely development configurations, and potential mix of products and tenant types under various land use scenarios • Provide recommendations for the opportunity sites focusing on maximizing economic viability and compatibility with current surrounding land uses • Assist in briefing senior management and/or preparation for City Council Meetings as requested • Meet with City Staff as requested • Provide other related services as requested by City City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 20 Financial Analysis & Negotiation Services involve the review, evaluation and/or preparation of various real estate analy- ses and the review and evaluation of comparable sale or lease transaction structures and key business and legal provi- sions. Financial Services also require an understanding of, as appropriate, seller's or buyer's goals, objectives and return requirements. As requested, KMA will review and evaluate any or all of the above and summarize them as part of the assisting in the negotiation and completion of the City acquisition or disposition transactions. Major tasks include the following: • Evaluate development costs • Identify approriate method for measuring returns, including: Internal Rate of Return (IRR), Discounted Cash Flow Analysis, Stabilized Return on Costs and/or Return on Equity • Review debt and equity requirements • Preparation of cash flow projections • Preparing return analyses reflecting the appropriate metrics • As necessary, as part of an evaluation, prepare market analyses, pro forma analyses and development feasibility analyses to confirm or reject developer offers • Review lease and sale transaction documents to assist City in establishing provisions for rent or sale price, rent adjustments, reappraisals, evidence of financing, assignment and transfer requirements, etc. • Assist and advise City in establishing negotiating strategy related to scope of development, lease term, financial terms and schedule of performance and other items • Prepare alternative cash flow projection scenarios to measure impact of proposed negotiating positions • Assist and advise City in sale and lease negotiations • Prepare staff or consultant reports related to the transaction • Assist with drafting of key financial elements of legal documents • Review legal documents to ensure the veracity of the financial conditions • Prepare requests for qualifications and/or proposals and assist in developer selection process • Assist in briefing senior management and/or preparation for City Council Meetings as requested • Meet with City Staff as requested • Provide other related services as requested by City City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 The economic and financial impact of a project is important to understand for the purposes of directing the City's re- sources. To that end, major tasks KMA will undertake include: • Ensure the project is economically feasible through a review of market conditions • Evaluate the on -site City revenues generated by a project including, but not limited to, sales tax, property tax and other relevant revenue sources • Estimate on -site employment generated by a project • Estimate the potential City service costs associated with a proposed project, including public safety, public works, city management and other relevant costs • Estimate the direct, indirect and induced economic impact of a project utilizing the appropriate multipliers • Estimate direct, indirect and induced employment generated by a proposed project • Estimate construction employment generated by a project • Review the financial capability of developers to ensure they have the financial wherewithal to undertake the pro- posed development • Review tenant, brand and operator agreements to ensure the quality of the proposed development is consistent with City expectations • Consider impact of existing and new entitlements on project feasibility and City's opportunities for community benefits if new entitlements are pursued • Identify opportunities for City and developer to engange in a public/private partnership • Assist in briefing senior management and/or preparation for City Council Meetings as requested • Meet with City Staff as necessary • Provide other related services as requested by the City The disposition/ valuation services will rely on financial and pro forma analyses, evaluation of project area comparables sales, review of appraisals and other relevant factors. The analysis includes an evaluation of project costs, revenues and anticipated returns. Based on the relationship of these factors, the value of a site can be measured. To this end, KMA will undertake the following tasks: • Review project site plans and elevations to gain an understanding of the proposed development program • Estimate project costs, including: direct/hard construction costs, indirect/soft costs and capitalized financing costs • Estimate project rents, sales prices and vacancy levels. • Estimate project operating costs based on similar projects in the region • Evaluate site value assuming developer returns based on current and anticipated market conditions • Review market area land and building comps to assist in evaluating value • Assist City in negotiating appropriate transaction terms • Provide expert witness testimony • Assist in briefing senior management and/or preparation for City Council Meetings as requested • Meet with City Staff as necessary • Provide other related services as requested by the City City of La Quinta I Qualifications: Economic Development —On-Call Services I March 2026 1 22 9. REQUIRED FORMS AND STANDARD AGREEMENT The Insurance Requirements Acknowledgment, Non Collusion Affidavit and Acknowledgment of Receipt of Addenda forms are provided in the following pages. We would like to request the following change to the City's standard agreement (requested additions are noted in bold, underlined text): 7.3 Ownership of Documents. All drawings, specifications, maps, designs, photographs, studies, surveys, data, notes, computer files, reports, records, documents, and other materials plans, drawings, estimates, test data, survey results, models, renderings, and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings, digital renderings, or data stored digitally, magnetically, or in any other medium prepared or caused to be pre- pared by Contracting Party, its employees, subcontractors, and agents in the performance of this Agreement (the "Doc- uments and Materials") shall be the property of City and shall be delivered to City upon request of the Contract Officer, or assigned designee, or upon the expiration or termination of this Agreement, and Contracting Party shall have no claim for further employment or additional compensation as a result of the exercise by City of its full rights of ownership use, reuse, or assignment of the Documents and Materials hereunder. Contractor shall retain ownership of its proprietary computer models used in the performance of services under this Agreement, provided the City is granted a non-exclu- sive perpetual license to use the outputs and deliverables generated by such models for the purposes of the Project and any related future work. Any use, reuse or assignment of such completed Documents and Materials for other proj- ects and/or use of uncompleted documents without specific written authorization by Contracting Party will be at City's sole risk and without liability to Contracting Party, and Contracting Party's guarantee and warranties shall not extend to such use, revise, or assignment. Contracting Party may retain copies of such Documents and Materials for its own use. Contracting Party shall have an unrestricted right to use the concepts embodied therein. All subcontractors shall provide for assignment to City of any Documents and Materials prepared by them, and in the event Contracting Party fails to secure such assignment, Contracting Party shall indemnify City for all damages resulting therefrom. f City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 23 ATTACHMENT 2 INSURANCE REQUIREMENTS ACKNOWLEDGEMENT Must be executed by proposer and submitted with the proposal Heather Greco Keyser Marston Associates, Inc. (name) hereby acknowledge and confirm that (name of company) has reviewed the City's indemnification and minimum insurance requirements as listed in Exhibits E and F of the City's Agreement for Contract Services (Attachment 1); and declare that insurance certificates and endorsements verifying compliance will be provided if an agreement is awarded. I am Business Manager of Keyser Marston Associates, Inc. (Title) (Company) Commercial General Liability (at least as broad as ISO CG 0001): ® $1,000,000 per occurrence/$2,000,000 aggregate OR ❑ $2,000,000 per occurrence/$4,000,000 aggregate ❑ $5,000,000 per occurrence/$5,000,000 aggregate Must include the following endorsements: General Liability Additional Insured General Liability Primary and Non-contributory Commercial Automobile Liability (at least as broad as ISO CA 0001): ® $1,000,000 combined single limit for bodily injury and property damage ® Auto Liability Additional Insured Workers' Compensation (per statutory requirements): ® Statutory Limits / Employer's Liability $1,000,000 per accident or disease Must include the following endorsements: Workers' Compensation Endorsement with Waiver of Subrogation; OR Workers' Compensation Declaration of Sole Proprietor (if applicable) Professional Liability (Errors and Omissions): ® Errors and Omissions liability insurance with a limit of not less than $1,000,000 per claim Cyber Liability ❑ $1,000,000 per occurrence/$2,000,000 aggregate Page 9 of 11 City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 24 NON -COLLUSION AFFIDAVIT FORM Must be executed by proposer and submitted with the proposal I, Kevin E I am Senior Principal (Title) ATTACHMENT (name) hereby declare as follows: of Keyser Marston Associates, Inc. (Company) the party making the foregoing proposal, that the proposal is not made in the interest of, or on behalf of, any undisclosed person, partnership, company, association, organization, or corporation; that the proposal is genuine and not collusive or sham; that the proposer has not directly or indirectly induced or solicited any other proposer to put in a false or sham proposal, and has not directly or indirectly colluded, conspired, connived, or agreed with any proposer or anyone else to put in a sham proposal, or that anyone shall refrain from proposing; that the proposer has not in any manner, directly or indirectly, sought by agreement, communication, or conference with anyone to fix the proposal price of the proposer or any other proposer, or to fix any overhead, profit, or cost element of the proposal price, or of that of any other proposer, or to secure any advantage against the public body awarding the agreement of anyone interested in the proposed agreement; that all statements contained in the proposal are true; and, further, that the proposer has not, directly or indirectly, submitted his or her proposal price or any breakdown thereof, or the contents thereof, or divulged information or data relative hereto, or paid, and will not pay, any fee to any corporation, partnership, company, association, organization, proposal depository, or to any member or agent thereof to effectuate a collusive or sham proposal. I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct. Proposer Signature: Proposer Name: Kevin Engstrom Proposer Title: Senior Principal Company Name: Keyser Marston Associates, Inc. Address: 777 S. Figueroa St., Suite 2555, Los Angeles, CA 90017 Page 10 of 11 City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 1 ATTACHMENT 4 ACKNOWLEDGEMENT OF RECEIPT OF ADDENDA Must be executed by proposer and submitted with the proposal; If no addenda has been issued, mark "N/A" under Addendum No. indicating Not Applicable and sign ADDENDUM NO. SIGNATURE INDICATING RECEIPT NA Page 11 of 11