Title
a. Approve and authorize the Housing Program Manager or her designee to execute Amendment #3 to the Agreement No. A-12923 between the County of Monterey and The John Stewart Company to extend the Agreement to provide Property Management Services at Kent's Court through December 31, 2020; and
b. Authorize the use of rental income funds to serve as working capital and a disbursement of $14,000 per month through December 31, 2020.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve and authorize the Housing Program Manager or her designee to execute Amendment #3 to the Agreement No. A-12923 between the County of Monterey and the John Stewart Company to extend the Agreement to provide Property Management Services at Kent's Court through December 31, 2020; and
b. Authorize the use of rental income funds and a disbursement of $14,000.00 per month to serve as working capital through December 31, 2020.
SUMMARY/DISCUSSION:
Kents Court is a 19-unit affordable housing project in Pajaro that is owned by the County of Monterey. The property has been managed by the John Stewart Company since October 2015. On August 25, 2015, the Board of Supervisors approved Agreement No. A-12923 between the County of Monterey and the John Stewart Company to provide professional property management services for a three (3)-year term and the option to extend the Agreement for up to two (2) additional one (1)-year terms. This Agreement has been amended two (2) times with the latest amendment extending the term through September 30, 2020.
The Housing and Economic Development Division is now requesting an extension to the Agreement to allow enough time to complete a new Request for Proposals (RFP) to solicit property management proposals. The RFP process has been delayed due to the recent COVID-19 and local fire events.
Approval of the recommended actions will enable the County to ensure that the management of Kents Court is uninterrupted.
OTHER AGE...
Click here for full text