HomeMy WebLinkAbout2026-27 Keyser Marston Associates, Inc (KMA) - Hotel Economic Development Consulting Services- GEM of the DESERT
CITY OF LA QUINTA
SHORT -FORM SERVICES AGREEMENT
1. PARTIES AND DATE. This Agreement is made and entered into as of the 3rd day of March, 2026,
("Effective Date") by and between the City of La Quinta ("City"), a California Municipal Corporation and
Charter City organized under the Constitution and laws of the State of California with its principal place of
business at 78495 Calle Tampico, La Quinta, California 92253, and Keyser Marston Associates, Inc., a
California Corporation, with its principal place of business at 777 S. Figueroa St., Suite 2555, Los
Angeles, CA 90017 ("Vendor"). City and Vendor are sometimes individually referred to as "Party" and
collectively as "Parties" in this Agreement.
2. TERMS AND CONDITIONS. The Parties shall comply with the terms and conditions in the attached
Exhibit "A."
3. SCOPE AND SCHEDULE OF SERVICES. Vendor shall provide to City the services pursuant to the
date(s) and schedule(s) described in accordance with the schedule set forth in Exhibit "B."
4. TERM. The term of this Agreement shall be from March 23, 2026, to June 30, 2027, unless earlier
terminated as set forth in the attached Terms and Conditions. This Agreement may not extend beyond a
period of five (5) years, unless under the City's Fiscal Policies and Procedures this Agreement is exempt
from the five (5) year limitation.
5. COMPENSATION. Vendor shall receive compensation for services rendered under this Agreement
at the rates and schedule set forth in the attached Exhibit "C" but in no event shall Vendor's compensation
exceed Thirty Five Thousand Dollars ($35,000) for the life of the agreement without written amendment.
6. FORCE MAJEURE. The time period specified for performance of the services rendered pursuant to
this Agreement shall be extended because of any delays due to unforeseeable causes beyond the control
and without the fault or negligence of Vendor including, but not restricted to, acts of God or of the public
enemy, fires, earthquakes, floods, epidemic, quarantine restrictions, riots, strikes, freight embargoes, acts
of any governmental agency other than City, and unusually severe weather, if Vendor shall within ten (10)
days of the commencement of such delay notify the City in writing of the causes of the delay. The City
shall ascertain the facts and the extent of delay and extend the time for performing the Services for the
period of the forced delay when and if in their judgment such delay is justified, and the City's determination
shall be final and conclusive upon the parties to this Agreement. Extensions to time periods for
performance of services, which are determined by the City to be justified pursuant to this Section, shall not
entitle the Vendor to additional compensation unless City expressly agrees to an increase in writing.
1
7. COUNTERPARTS. This Agreement may be executed in counterparts, each of which shall be deemed
to be an original, and such counterparts shall constitute one and the same instrument.
8. INSURANCE. In accordance with Section 4 of Exhibit "A," Vendor shall, at its expense, procure and
maintain for the duration of the Agreement such insurance policies as checked below and provide proof of
such insurance policies to the City. Vendor shall obtain policy endorsements on Commercial General
Liability Insurance that name Additional Insureds as follows: The City of La Quinta, its officers,
officials, employees and agents.
Commercial General Liability Insurance:
N
$1,000,000 per occurrence/$2,000,000 aggregate OR
$2,000,000 per occurrence/$4,000,000 aggregate
® Additional Insured Endorsement naming City of La Quinta
® Primary and Non -Contributory Endorsement
Automobile Liability:
® $1,000,000 combined single limit for bodily injury and property damage
Auto Liability Additional Insured
Workers' Compensation:
N
N
Statutory Limits / Employer's Liability $1,000,000 per accident or disease
Workers' Compensation Endorsement with Waiver of Subrogation
Professional Liability (Errors and Omissions):
® Errors and Omissions liability insurance with a limit of not less than $1,000,000 per claim
2
IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed on the
day and year first above written.
CITY OF LA QUINTA
a California Municipal Corporation,
and Charter City
KEYSER MARSTON ASSOCIATES, INC.
a California Corporation
SIGNED IN COUNTERPART
J c LEN KEVIN ENGSTROM,
City Manager Vice President
Dated: 3/24/2026
ATTEST:
MONIKA RADEVA, City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
WILLIAM H. IHRKE, City Attorney
City of La Quinta, California
3
Dated:
IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed on the
day and year first above written.
CITY OF LA QUINTA
a California Municipal Corporation,
and Charter City
SIGNED IN COUNTERPART
JON McMILLEN
City Manager
KEYSER MARSTON ASSOCIATES, INC.
a California Corporation
KEVIN ENGSTROM,
Vice President
Dated: Dated:
ATTEST:
SIGNED IN COUNTERPART
MONIKA RADEVA, City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
SIGNED IN COUNTERPART
WILLIAM H. IHRKE, City Attorney
City of La Quinta, California
3
3/26/2026
EXHIBIT "A"
TERMS AND CONDITIONS
1. Compensation. Vendor shall be paid on a time and
materials or lump sum basis, as may be set forth in
Exhibit "C", within 30 days of completion of the Work
and approval by the City.
2. Compliance with Law. Vendor shall comply with all
applicable laws and regulations of the federal, state
and local government. Vendor shall assist the City, as
requested, in obtaining and maintaining all permits
required of Vendor by Federal, State and local
regulatory agencies. Vendor is responsible for all costs
of clean up and/or removal of hazardous and toxic
substances spilled as a result of his or her Work. In
explanation of the forgoing and not by way of limitation.
3. Standard of Care. The Vendor shall perform the
Work in accordance with generally accepted
professional practices and principles and in a manner
consistent with the level of care and skill ordinarily
exercised by members of the profession practicing
under similar conditions.
4. Insurance. The Vendor shall take out and maintain,
during the performance of all work under this
Agreement: A. Commercial General Liability Insurance
in the amounts specified in Section 8 of the Agreement
for bodily injury, personal injury and property damage,
at least as broad as Insurance Services Office
Commercial General Liability coverage (Occurrence
Form CG 0001), and if no amount is selected in
Section 8 of the Agreement, the amounts shall be
$1,000,000 per occurrence/$2,000,000 aggregate; B.
Automobile Liability Insurance for bodily injury and
property damage including coverage for owned, non -
owned and hired vehicles, of at least $1,000,000 per
accident for bodily injury and property damage, at least
as broad as Insurance Services Office Form Number
CA 0001 (ed. 6/92) covering automobile liability, Code
1 (any auto); C. Workers' Compensation in
compliance with applicable statutory requirements and
Employer's Liability Coverage of at least $1,000,000
per accident or disease. Vendor shall also submit to
City a waiver of subrogation endorsement in favor of
city, and D. Professional Liability (Errors and
Omissions) coverage, if checked in Section 8 of the
Agreement, with a limit not less than $1,000,000 per
claim and which shall be endorsed to include
contractual liability. Insurance carriers shall be
authorized by the Department of Insurance, State of
California, to do business in California and maintain an
agent for process within the state. Such insurance
carrier shall have not less than an "A"; "Class VI I"
according to the latest Best Key Rating unless
otherwise approved by the City.
A-1
4.1 Pass Through Clause. Vendor agrees to ensure
that its sub -consultants, sub -contractors, and any other
party involved with the project who is brought onto or
involved in the project by Vendor, provide the same
minimum insurance coverage and endorsements
required of Vendor. Vendor agrees to monitor and
review all such coverage and assumes all
responsibility for ensuring that such coverage is
provided in conformity with the requirements of this
section. Vendor agrees that upon request, all
agreements with consultants, subcontractors, and
others engaged in the project will be submitted to
Agency for review.
5. Indemnification. The Vendor shall indemnify and
hold harmless the City, its Council, members of the
Council, agents and employees of the City, against any
and all claims, liabilities, (including liability related to
exposure to communicable diseases, illnesses, or
viruses), expenses or damages, including responsible
attorneys' fees, for injury or death of any person, or
damage to property, or interference with use of
property, or any claim of the Vendor or subcontractor
for wages or benefits which arise in connection with the
performance of this Agreement, except to the extent
caused or resulting from the active negligence or willful
misconduct of the City, its Council, members of the
Council, agents and employees of the City. The
foregoing indemnity includes, but is not limited to, the
cost of prosecuting or defending such action with legal
counsel acceptable to the City and the City's attorneys'
fees incurred in such an action.
6. Laws and Venue. This Agreement shall be
interpreted in accordance with the laws of the State of
California. If any action is brought to interpret or
enforce any term of this Agreement, the action shall be
brought in a state or federal court situated in the County
of Riverside, State of California.
7. Termination. The City may terminate the services
procured under this Agreement by giving 10 calendar
days written notice to Vendor. In such event, the City
shall be immediately given title and possession to any
original field notes, drawings and specifications, written
reports and other documents produced or developed
for the services. The City shall pay Vendor the
reasonable value of services completed prior to
termination. The City shall not be liable for any costs
other than the charges or portions thereof which are
specified herein. Vendor shall not be entitled to
payment for unperformed services, and shall not be
entitled to damages or compensation for termination of
work. Vendor may terminate its obligation to provide
services under this Agreement upon 30 calendar days'
written notice to the City only in the event of City's
failure to perform in accordance with the terms of this
Agreement through no fault of Vendor.
8. Agreement Terms. Nothing herein shall be
construed to give any rights or benefits to anyone other
than the City and the Vendor. The unenforceability,
invalidity or illegality of any provision(s) of this
Agreement shall not render the other provisions
unenforceable, invalid or illegal. Notice may be given
or delivered by depositing the same in any United
States Post Office, certified mail, return receipt
requested, postage prepaid, addressed to the parties
to the addresses set forth in the Agreement. Vendor
shall not assign, sublet, or transfer this Agreement or
A-2
any rights under or interest in this Agreement without
the written consent of the City, which may be withheld
for any reason. Vendor is retained as an independent
contractor and is not an employee of the City. No
employee or agent of Vendor shall become an
employee of the City. The individuals signing this
Agreement represent that they have the authority to
sign on behalf of the parties and bind the parties to this
Agreement. This is an integrated Agreement
representing the entire understanding of the parties as
to those matters contained herein, and supersedes and
cancels any prior oral or written understanding or
representations with respect to matters covered
hereunder. This Agreement may not be modified or
altered except in writing signed by both parties hereto.
EXHIBIT "B"
SCOPE AND SCHEDULE OF SERVICES
SEE ATTACHED
C-1
EXHIBIT "B"
SCOPE AND SCHEDULE OF SERVICES
Qualifications to Provide
Economic Development
Services
City of La Quinta
March 2026
/?•
KEYSER MARSTON
ASSOCIATES
City of La Quinta 1 Qualifications: Economic Development — On -Call Services March 2026
Table of Contents
1 Statement of Qualifications 1
A. Proposed Project Personnel 1
B. Firm Overview 8
C. KMA Service Areas 9
D. Experience with Similar Work, including
Municipal Governmental Agencies
10
2 Fee Schedule 15
City of La Quinta 1 Qualifications: Economic Development — On -Call Services March 2026 1
1. STATEMENT OF QUALIFICATIONS
A. Proposed Project Personnel
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.
Kevin Engstrom
Senior Principal
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.
Kathleen Head
President &
Managing Principal
Ms. Head has been with KMA since 1983, and she manages the housing related services per-
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.
Julie Romey
Senior Principal
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.
Tim Bretz
Senior Principal
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-
nity benefits, and reuse analyses for residential, mixed -use, hotel, office, and industrial projects.
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.
Courtney Holt
Manager
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
and nexus analyses, market and demographic studies, HOME Program policies and procedures,
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.
Ryan Koyanagi
Associate
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 I 2
KEYSER MARSTON
ASSOCIATES
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 I 3
KEYSER MARSTON
ASSOCIATES
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 I 4
Allk
iti
1 '6' V
KEYSER MARSTON
ASSOCIATES
Years in
the Industry
30+
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).
JULIE ROMEY
Julie Romey 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
program. Other funding sources Julie has experience with are low- and moderate -income housing
asset funds (LMIHAF), HOME funds, No Place Like Home, tax-exempt bonds, and other State of
California housing programs.
Affordable Housing Strategies/Programs
Julie works with Cities to ensure their housing programs are SB 341 compliant, including drafting a
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
Anaheim, Fullerton, and Huntington Beach with the ongoing monitoring of their affordable housing
projects and qualifying homebuyers.
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.
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 I 5
KEYSER MARSTON
ASSOCIATES
Years in
the Industry
15+
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
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 I 6
KEYSER MARSTON
ASSOCIATES
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 I 7
KEYSER MARSTON
ASSOCIATES
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 & WISEPIace
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 1 Qualifications: Economic Development — On -Call Services March 2026 8
B. Firm Overview
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:
Real Estate A• visory
Enhanced
Infrastructure
Financing Districts
IAffordable Land Use
Housing Economics
Fiscal and
Economic Impacts
Economic
Development
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.
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 multi-
ple consultants.
Commitment
KMA offers the commitment of principals who are recognized leaders in real estate advisory services throughout Califor-
nia. Our philosophy and structure results in clients having maximum direct contact with the firm's principals.
City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 I 9
C. KMA Service Areas
Descriptions of KMA's real estate and economic devel-
opment consulting services that are pertinent to the City
engagement follow:
REAL ESTATE SERVICES
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.
Prnivrt Finnririnl Fynhintn
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
Consultina
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.
.onomic 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.
Develoament 4areements/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.
City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 I 10
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 Strateaie.
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
1 .-,..-
KMA's 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. KMA's
services have assisted public sector clients in formulating
policies that maximize future public revenue potential
while maintaining an appropriate land use balance.
D. Experience with Similar Work, including
Municipal Governmental Agencies
Examples of KMA's long standing relationships with clients
for whom we provide similar services are presented on the
following pages.
As described in the firm overview, the majority of KMA's
hundreds of clients - including the projects described on
the following pages - are municipal governmental agencies.
City of La Quinta 1 Qualifications: Economic Development — On -Call Services March 2026 11
Economic Services for Commercial and Residential Projects
City of Long Beach, CA
Contact
Mary Frances Torres, SR/WA
Real Estate Development Bureau
Manager
Economic Development Dept
411 W. Ocean Blvd. 10th Floor
Long Beach, CA 90802
562.570.6846
Mary.Torres@longbeach.gov
Meggan Sorensen
Bureau Manager
Community Development
Housing & Neighborhood Services
Bureau
411 W. Ocean Blvd., 3rd Floor
Long Beach, CA 90802
562.570.5269
Meggan.Sorensen@longbeach.gov
KMA provides ongoing assistance to the City on a variety of real estate
projects ranging from large scale retail entertainment projects, repositioning
of retail centers, industrial and marina ground leases and hotels. KMA served
as the real estate member of the negotiating team for the development of
the Pike retail project at Queensway Bay. The Pike was developed by Oliver
McMillan and Developer Diversified Realty. The development is on a State
Tidelands lease and development assistance was provided through a public
financing of the parking structure.
KMA has assisted the City evaluating the financial feasibility of numerous
hotel projects, including a review of market projections, development costs,
operating parameters, public revenue projections and feasibility gaps. Working
with the City, the findings of the KMA analyses were utilized to structure
subsidy programs to promote project feasibility. The City also has a large
holding of leased properties in the Tidelands, Alamitos Bay, around Long
Beach Airport and at other locations in the City. KMA works with the Economic
& Property Development Department to evaluate the leases, participate in the
rent renegotiation process and evaluate lease extension requests. Projects are
as diverse as office building complexes, industrial 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.
City of La Quinta I Qualifications: Economic Development — On -Call Services I March 2026 I 12
On-Call/General Services
City of Anaheim and the Successor Agency to the Anaheim Redevelopment Agency, CA
Contact
Sergio M. Ramirez
Economic Development Director
City of Anaheim
200 S. Anaheim Boulevard
Anaheim, CA 92805
714.765.4627
sramirez@anaheim.net
KMA has provided ongoing advisory services to the City since the late 1970's
for a variety of real estate and capital improvement projects, as well as
economic development and affordable housing consulting.
Services to the City include market evaluation and feasibility analyses for a
variety of land uses. In recent years KMA evaluated market opportunities for
Anaheim's major corridors, including a review of residential, office, retail and
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 I 13
Real Estate and Housing Services
City of Palm Desert, CA
Contact
Martin Alvarez
Director of Economic Development
73510 Fred Waring Drive
Palm Desert, CA 92260
760.776.6384
malvarez@palmdesert.gov
KMA provides ongoing assistance to the City on a variety of real estate projects
ranging from large scale entertainment projects, repositioning of retail centers,
mixed use developments, residential and hotels. KMA has assisted the City
evaluating the financial feasibility of numerous hotel projects, including a review
of market projections, development costs, operating parameters, public revenue
projections and feasibility gaps. Recent projects include the Desert Surf Wave
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 1 Qualifications: Economic Development — On -Call Services March 2026 14
2. COST PROPOSAL
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.
Keyser Marston Associates, Inc
2025/26 Hourly Rates
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
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.
EXHIBIT "C"
COMPENSATION FOR SERVICES
Compensation for Services rendered under this Agreement at the rates set forth in the attached
Exhibit "B" shall not exceed Thirty Five Thousand Dollars ($35,000) for the life of this Agreement.
Any month in which Vendor wishes to receive payment, Vendor shall submit to City no later than
the 10th working day of such month, in the form approved by the City's Finance Director, an
invoice for services rendered prior to the date of the invoice. Such invoice shall (1) describe in
detail the services provided, including time and materials, and (2) specify each staff member who
has provided services and the number of hours assigned to each such staff member. Such invoice
shall contain a certification by a principal member of Vendor specifying that the payment
requested is for services performed in accordance with the terms of this Agreement. Upon
approval in writing by the Contract Office, or assigned designee, the City will pay Vendor for all
items stated thereon which are approved by the City pursuant to this Agreement no later than 30
days after invoices are received by the City's Finance Department.
Account No. 101-1002-60103 Professional Services
C-1