File #: RES 20-215    Name: a. Approve Amendment No. 4 to Management Agreement No. A-12923 with The John Stewart Company to continue to provide property management services at Kents Court, Request for Proposals (RFP) #10528, to extend the expiration date of the Agreement for six (6)
Type: BoS Resolution Status: Passed - RMA Administration
File created: 11/24/2020 In control: Board of Supervisors
On agenda: 12/8/2020 Final action: 12/8/2020
Title: Adopt a resolution to: a. Amendment No. 4 to Management Agreement No. A-12923 with The John Stewart Company to continue to provide property management services at Kents Court to extend the expiration date of the Agreement for six (6) additional months through June 30, 2021 for a revised term from October 1, 2015 to June 30, 2021; b. Authorize the use of rental income funds to serve as working capital and a disbursement of $14,000 per month for six (6) additional months through June 30, 2021; and c. Authorize the Housing and Community Development Director or his designee to execute Amendment No. 4 to Management Agreement No. A-12923 and up to one (1) future amendment to the Agreement where the amendment does not significantly alter the scope of work or increase the approved dispersal amount of $14,000 per month.
Attachments: 1. Board Report, 2. Attachment A - Summary of Management Agreement, 3. Attachment B - A4 to MA with The John Stewart Company for Kents Court 120220, 4. Attachment C - Resolution, 5. Attachment D - MA with The John Stewart Company 100115, 6. Attachment E - Board Order Increasing the Amount of Working Capital, 7. Attachment F - A1 to MA with John Stewart - Renewal Ltr 2018-19, 8. Attachment G - A2 to MA with John Stewart - Renewal Ltr 2019-20, 9. Attachment H - A3 to MA with John Stewart - Renewal Ltr Exp. 123120, 10. Item No. 75 Completed Board Order and Resolution
Title
Adopt a resolution to:
a. Amendment No. 4 to Management Agreement No. A-12923 with The John Stewart Company to continue to provide property management services at Kents Court to extend the expiration date of the Agreement for six (6) additional months through June 30, 2021 for a revised term from October 1, 2015 to June 30, 2021;
b. Authorize the use of rental income funds to serve as working capital and a disbursement of $14,000 per month for six (6) additional months through June 30, 2021; and
c. Authorize the Housing and Community Development Director or his designee to execute Amendment No. 4 to Management Agreement No. A-12923 and up to one (1) future amendment to the Agreement where the amendment does not significantly alter the scope of work or increase the approved dispersal amount of $14,000 per month.

Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Adopt a resolution to:
a. Approve Amendment No. 4 to Management Agreement No. A-12923 with The John Stewart Company to continue to provide property management services at Kents Court to extend the expiration date of the Agreement for six (6) additional months through June 30, 2021 for a revised term from October 1, 2015 to June 30, 2021;
b. Authorize the use of rental income funds to serve as working capital and a disbursement of $14,000 per month for six (6) additional months through June 30, 2021; and
c. Authorize the Housing and Community Development Director or his designee to execute Amendment No. 4 to Management Agreement No. A-12923 and up to one (1) future amendment to the Agreement where the amendment does not significantly alter the scope of work or increase the approved dispersal amount of $14,000 per month.

SUMMARY:
Kents Court is a nineteen (19) unit affordable housing project in Pajaro that is owned by the County of Monterey as the Successor Housing Agency to the Redevelopment Agency for the County of Monterey. The property has been managed by The John Stewart ...

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