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Resolution No. 9322I RESOLUTION NO. 9322 2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF 3 VERNON APPROVING AND AUTHORIZING THE EXECUTION OF A CONSULTING AGREEMENT BY AND BETWEEN THE CITY OF 4 VERNON AND THE ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY REGARDING AN ECONOMIC IMPACT 5 STUDY 6 WHEREAS, on July 3, 2002, the City Council of the City of 7 Vernon approved Resolution No. 8021 approving an Agreement with the 8 Economic Development Corporation of Los Angeles County ("LAEDC") to 9 provide an economic impact study to quantify Vernon's economic impact 10 on the Southern California region; and 11 WHEREAS, the City desires LAEDC to prepare a new economic 12 impact study to quantify Vernon's economic impact on the Los Angeles 13 region; and 14 WHEREAS, on May 8, 2007, the Finance Committee section of 15 the City Council approved the retention of the LAEDC to prepare the 16 economic impact study, subject to the Council's approval of an 17 agreement for said services; and 18 WHEREAS, the City Council of the City of Vernon has 19 determined that, pursuant to the provisions of subsection (a) of 20 Section 2.27 of the Vernon City Code, it is in the public interest and 21 necessity to enter into an agreement with LAEDC. 22 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE 23 CITY OF VERNON AS FOLLOWS: 24 SECTION 1: The City Council of the City of Vernon hereby 25 finds and determines that the recitals contained hereinabove are true 26 and correct. 27 SECTION 2: The City Council of the City of Vernon hereby 28 approves the Consulting Agreement with LAEDC, a copy of which is 1 2 3 4 5 6 7 8 9 10 11 12 131 14 15 16 17 18 19' 20 21 22 23 24 25 26 27 28 attached hereto as Exhibit A and incorporated by reference. SECTION 3: The City Council of the City of Vernon hereby authorizes the Mayor or Mayor Pro-Tem to execute said Agreement for, and on behalf of, the City of Vernon and the City Clerk is hereby authorized to attest thereto. SECTION 4: The City Council of the City of Vernon hereby directs the City Clerk, or her designee, to send one fully executed Agreement to: Los Angeles County Economic Development Corporation Attn. Nancy D. Sidhu, Vice President/Senior Economist 444 S. Flower St., 34th Floor Los Angeles, CA 90071 SECTION 5: The City Clerk of the City of Vernon shall certify to the passage of this Resolution, and thereupon and thereafter the same shall be in full force and effect. APPROVED AND ADOPTED this 21St day of May, 2007._ i TEST: z MPMUELA GIVON, Cl�ty Clerk Name: LEONIS C. MALBURG Title: Mayor / XXX XXRl0�?(-UOX)X - 2 - I STATE OF CALIFORNIA ) ss 2 COUNTY OF LOS ANGELES ) 3 4 I, MANUELA GIRON, City Clerk of the City of Vernon, do 5 hereby certify that the foregoing Resolution, being Resolution No. 6 9322, was duly adopted by the City Council of the City of Vernon at a 7 regular meeting of the City Council duly held on Monday, May 21, 2007, 8 and thereafter was duly signed by the Mayor or Mayor Pro-Tem of the 9 City of Vernon. 10 MANUELI�-GIJRON, City Clerk 11 12 ( SEAL) 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - 3 - EXHIBIT 0 CONSULTING AGREEMENT This Agreement, executed in duplicate at Los Angeles, California, is made by and between the CITY OF VERNON, CALIFORNIA, hereinafter referred to as the "Client", and the ECONOMIC DEVELOPMENT CORPORATION OF LOS ANGELES COUNTY, a California non-profit corporation, hereinafter referred to as "LAEDC". Recitals Whereas the Client and the LAEDC have entered into an Agreement that authorizes the LAEDC to provide certain services, Now therefore, in consideration of the mutual covenants and premises contained herein, the Client and LAEDC agree as follows: Agreement 1. Statement of Work and Schedule The LAEDC shall perform and provide services on a task -by -task basis. The services t4 be provided and the payment terms are set forth in the Statement of Work and Schedule and any amendments thereto, which is attached hereto as Attachment I and by this reference incorporated herein. The rights and obligations of the parties to this Agreement shall be subject to and governed by said Statement of Work and Schedule as well as by the general provisions herein. 2. Payment to the LAEDC The Client shall pay LAEDC $35,000.00, plus the cost of compiling the employee residence survey results, for complete and 'satisfactory performance of the terms of this Agreement. LAEDC will present Client with monthly invoices. Payment is due within 10 business days after submission of the invoice. 3. Time of Performance The term of this Agreement shall commence on May 15, 2007 and continue until November 15, 2007. LAEDC — City of Vernon Contract Page 1 of 9 4. Termination This Agreement may be terminated for the convenience of the LAEDC or Client, without cause, upon giving 30 days written notice to the other party or parties. If this Agreement is so terminated, then the LAEDC shall cease further work as of the date of termination and shall be paid for the services satisfactorily performed to the date of termination, based on the payment terms outlined in Section 2 of the Agreement. LAEDC must also deliver all work product, data and other information compiled or developed to the date of termination. This Agreement may be terminated immediately by either party for cause. Cause includes, but is not limited to, instances of professional incompetence, serious misconduct of a professional, ethical, or legal nature, moral turpitude, or physical incapacity or medical disability that prevents performance of essential functions of the job even with accommodations. 5. Amendments to Agreement Any change in the terms of this Agreement, including changes in the services to be performed by the LAEDC and any increase or decrease in the amount of compensation that is agreed to by the Client and LAEDC shall be incorporated into this Agreement by a written amendment properly executed by both parties. 6. Permits and Licenses The LAEDC shall hold valid permits, licenses, certificates and other documents as are required by the State, County, City, or other governmental or regulatory body to legally engage in and perform the services to be provided under this Agreement. LAEDC shall pay for any such permit or license fees. 7. Independent Contractor Status The parties agree that the LAEDC is an independent contractor subject to prevailing jurisdictional statutes and the terms and conditions of this Agreement only. Applicable Federal, State and local taxes shall be the responsibility of the LAEDC as an independent contractor and not as an employee of Client. 8. Assignment or Transfer or Interest Neither party shall assign nor transfer any interest in this Agreement without prior written consent of the other party to this Agreement. 9. Discrimination Prohibited The LAEDC does not discriminate against nor harass anyone because of race, color, religion, sex, age, national origin, sexual preference, or physical or mental condition, nor engage in any other discrimination prohibited by applicable law. LAEDC — City of Vernon Contract Page 2 of 9 10. Notices Notices to be given between the LAEDC and Client shall be in writing and may be served by depositing such notices in the United States Mail with postage prepaid, registered or certified mail, addressed as follows: To LAEDC: Los Angeles County Economic Development Corporation 444 South Flower Street, 30 Floor Los Angeles, CA 90071 Attention: Nancy D. Sidhu To Client: City of Vernon Redevelopment Agency Attention: Robert J. Toering, Executive Director 4305 Santa Fe Avenue Vernon, CA 90058 11. Indemnity, Liability, and Insurance Requirements The Client agrees to hold harmless the LAEDC, its officers, employees and assigns, against any and all claims arising from acts, omissions, or negligence of the Client, its officers or employees. The LAEDC shall carry general liability insurance in the minimum amount of one million dollars ($1,000,000.00) prior to the commencement of performance under this Agreement. Such coverage shall be maintained currently effective until the termination of this Agreement. Such policies must be kept current during the entire period of this Agreement at the sole cost of the LAEDC. 12. Compliance with Statutes and Regulations In the performance of this agreement, the LAEDC shall obey all laws of the United States, the State of California and the ordinances, regulations, policies, Code and Charter provisions of the City of Los Angeles, including, but not limited to provisions pertaining to hours of employment and compensation therefor, and the nondiscrimination provision of the Los Angeles Administrative Code, Section 10.8, or any other applicable city code provisions. 13. Ownership of Documents LAEDC agrees that the task worksheets and any components thereof shall belong to and be the sole property of the Client. Upon completion of the project or termination of this Agreement, pursuant to Section 4 of this Agreement, the LAEDC shall deliver to the Client copies of all back-up materials used in the project that are not already in the Client's possession. LAEDC — City of Vernon Contract Page 3 of 9 14. Accounting Records The LAEDC shall keep complete, accurate, and detailed accounts of all time, costs, expenses and expenditures pertaining in any way to the rendering of services by the LAEDC under this Agreement in a manner consistent with generally accepted accounting procedures. 15. Access to Work Product The Client shall have access at all times to the work product of the LAEDC hereunder, whenever it is in preparation and progress. 16. Schedule Project schedules are an important factor and the LAEDC agrees to make every reasonable effort to maintain the proposed schedule in proper balance with professional conduct and the reliability and accuracy of the technical work. 17. Complete Agreement This Agreement contains the full and complete Agreement between the two parties. No verbal agreement or conversation with any officer or employee of either party shall affect or modify any of the terms and conditions of this Agreement. 18. Unenforceable Provisions In the event that a court or other tribunal of competent jurisdiction shall hold any of the provisions of this Agreement to be unenforceable, the remaining portions of this Agreement shall remain in full force and effect. The failure of either party to enforce at any time, or for any period of time, the provisions hereof shall not be construed to be a waiver of such provisions or of the right of such party to enforce each such provision. 19. Jurisdiction This Agreement is to be governed by California law; provided, however, that the terms of this Agreement shall be interpreted in accordance with their fair and common meaning, and not automatically against any parry. LAEDC — City of Vernon Contract Page 4 of 9 IN WITNESS THEREOF, the LAEDC and Client have caused this Agreement to be executed by their duly authorized representatives. Executed this.?.Day of...M , 2007 Executed this ...... Day of ................ 2007 FOR: LAEDC By: _ 0A. William C. Allen, Pres' ent & CEO Internal Revenue Service FEIN: 95-3643339 LA City Business License: 139439-84 FOR: City of Vernon Leonis C. Malburg, Mayor Attest: Eric Fresch, **1iWCity Administrator Approved as to Form: Jeff Harrison, City Attorney LAEDC — City of Vernon Contract Page 5 of 9 ATTACHMENT I - STATEMENT OF WORK Professional Services Agreement Between Economic Development Corporation of Los Angeles County And City of Vernon, California PROJECT DESCRIPTION The Consulting Practice of the Los Angeles County Economic Development Corporation (LAEDC) is pleased to submit this proposal to prepare an economic impact study that addresses these questions: (1) "What is the economic impact of the activities carried on by the business firms, employees —both public and private —and the government of the City of Vernon?" and (2) "Where is the impact of employee spending most likely to be felt?" The LAEDC will assemble appropriate baseline statistical data, and perform the necessary research and analysis to describe and quantify Vernon's economic impact on the Los Angeles region. In addition, LAEDC will analyze the responses to an upcoming Chamber of Commerce - sponsored survey of Vernon employers to describe where employees who work in the City reside, and thereby to determine where they are likely to spend much of the incomes they earn within the City of Vernon. PROJECT APPROACH LAEDC's proposal includes seven separate tasks, outlined below: 1. Industry profile. The regional economic impacts of individual industries located in Vernon differ depending on: i. How much firms in the industry spend locally on purchases of needed materials and supplies, ii. How many workers they employ, and iii. How much these workers earn on an annual basis. Using employment -by industry data from City records, the LAEDC will analyze Vernon's industry profile, identifying the most important industries in the City. Details for each industry will include the appropriate NAICS codes, number of firms/establishments in Vernon, and number of employees. We will place Vernon's industry profile in a regional context by estimating Vernon's employment share of Los Angeles County's industry clusters. 2. Economic impact. Using a specially customized version of LAEDC's proprietary in- house model, the LAEDC will estimate the direct and indirect economic impact of Vernon's major industries and in total. The direct impact refers to the impact of each industry's activities on other Los Angeles County industries that supply Vernon - based firms with materials, components, transportation services, etc. The indirect impact measures the impact of spending by employees who work in Vernon and those employed by the suppliers. LAEDC's impact estimates will include the following measures: the number of direct, indirect, and total jobs that are attributable to the activities of firms based in Vernon, the wage and salary incomes LAEDC — City of Vernon Contract Page 6 of 9 earned by the direct and indirect workers, and their estimated spending on sales - taxable goods and services. 3. Construction impacts. Using City permit value data, the LAEDC will estimate the economic impacts of privately -funded construction projects taking place in Vernon. We will estimate the total number of employees associated (directly or indirectly) with these projects, their wages and salaries, and their total sales -taxable spending. We will also estimate the personal income and sales taxes generated directly and indirectly with these projects. [Note: construction projects generate one -time -only economic impacts and so are considered separately from the ongoing impacts estimated in Tasks 2 and 4.] 4. City government impacts: In addition to the private sector, the activities of Vernon's city government also generate economic impacts. Assuming the City can provide the appropriate data to use as input to the analysis, the LAEDC will include these impacts in its research results. The information required to perform the analysis includes: the number of workers employed by the City and the size of the City's total payroll in dollars, the number of city electric utility workers and their payroll, the size of the City's total budget broken down by major function, and the amounts spent by the City on construction projects (both ordinary maintenance & repair and special projects). 5. Tax revenue impacts. LAEDC will utilize its in-house revenue model to estimate the amounts paid by all of the direct and indirect workers found in Tasks 2, 3, and 4 in personal income taxes to the State of California as well as the amounts paid in sales taxes to the state, and to county and municipal governments. 6. Special analysis —impact eography: The Vernon Chamber of Commerce is sponsoring a questionnaire survey asking its employer -members for ZIP code information on the homes of their employees. Employees typically spend a large fraction of their incomes where they reside. These cities receive tax revenues associated with the employees' off -work activities, including property taxes on owner -occupied homes and the local government share of retail sales taxes. When the Chamber's survey has been completed, the LAEDC will analyze the survey responses and describe the results in the project report. NOTE: Residence locations of City of Vernon employees will be included in the results if the City provides the appropriate ZIP code level information for them. 7. Reports. The LAEDC will deliver to the City of Vernon two thoroughly updated reports presenting the results of the aforementioned research and analysis. The first or core report will describe the economic and revenue impacts generated by activities of Vernon's business firms, its government, and their employees on the Los Angeles region (i.e., Tasks 1 through 5).. The second report will describe the results of the employee residence survey, indicating which cities contain the bulk of Vernon's employees and therefore receive the tax benefits associated with their activities (i.e., LAEDC — City of Vernon Contract Page 7 of 9 Task 6). We will also prepare a new Workforce Residence map for inclusion in the Report and as a separate file. The second report will contain two appendices. Appendix A will list all of the cities and communities in the five metro area counties (Los Angeles, Orange, Riverside, San Bernardino, and Ventura) along with the number of Vernon employees in each community. Appendix B will identify the ZIP code composition of each city/community. In each Appendix, we will break the City of Los Angeles down into its constituent communities and districts. [For your information, 36 such areas were identified in the City of Los Angeles as part of LAEDC's 2002 report.] DATA REQUIREMENTS LAEDC's proposal assumes that the City of Vernon and the Vernon Chamber will be able to provide the following information in usable format (preferably as Excel files): 1. Number of firms and employees located in Vernon, sortable by NAICS code. 2. Construction permit values (in dollars) for privately -funded projects permitted in Vernon during the last 2-3 years. 3. Vernon city_ government spending by purpose (employee wage and salaries, outside contract services, purchased supplies, capital equipment, etc.) during the latest complete fiscal year. Separate figures for the General Fund, Marburg electric plant operations, and "other" would be helpful. (See Table 11 on page 12 of the 2002 report for the detail LAEDC presented last time.) 4. Number of City employ during the latest fiscal year. 5. ZIP code locations of Vernon city employees. Assuming City employees are to be included in the Vernon employee residence survey. 6. ZIP code locations of employees working for Vernon -based firms. I.e., the results of the Chamber of Commerce employer survey. TIMELINE LAEDC estimates that completing this study will require at least two months, depending on how long it takes for the Chamber to complete the employer survey. Collecting and compiling the government, construction, and industry -level information into the Industry Profile format will take two -three weeks. Another two weeks will be needed to customize LAEDC's in-house models for Vernon and to "exercise" them with the City's specific industry information. Analysis of the models' results as well as those of the employer survey —when it has been completed —will each require at least two more weeks. Preparation of the final reports will require another two weeks. LAEDC understands the City's desire for prompt access to our research results, and we will endeavor to complete these tasks as soon as possible. However, delays in providing any of the initial data described above may extend the time it takes for LAEDC to perform the work required. LAEDC — City of Vernon Contract Page 8 of 9 COST ESTIMATE The total cost of this study will be US$35,000 plus the cost of compiling the employee residence survey results into usable format (Excel). The LAEDC anticipates hiring temporary workers to perform the data entry work. [The total cost cannot be determined in advance. However, one agency quoted us a rate of $20.00/hour for data entry work. We estimate at least five days of work will be required, perhaps more.] AGREED: FOR: LAEDC By: Date:_ / 7 -Zoo FOR: City of Vernon Date: LAEDC — City of Vernon Contract Page 9 of 9 SUPPORTING DOCUMENTS 4305 Santa Fe Avenue, Vernon, California 90058 Telephone (323) 583-8811 June 13, 2007 Ms. Nancy D. Sidhu Vice President/Senior Economist Los Angeles County Economic Development Corporation 444 S. Flower St., 34th Floor Los Angeles, CA 90071 Re: Consulting Agreement - Economic Impact Study Dear Ms. Sidhu: Transmitted herewith is a fully executed consulting services agreement as referenced above, approved by City Council on May 21, 2007, through Resolution No. 9322. If you have any questions regarding this matter, please call Mr. Robert Toering, at (323) 583-8811 ext. 277. Very truly yours, lily' Gi City Cler NG:dr c: Sharon Duckworth Resolution No. 9322 Agreement File No. 07-052 E ,cfusivefy Industiiaf June 6, 2007 Ms. Marisa Olguin Executive Director Vernon Chamber of Commerce 3801 Santa Fe Avenue Vernon, CA 90058 Re: Services Agreement - Economic Impact Study Dear Ms. Olguin: Transmitted herewith is a fully executed services agreement as referenced above, relating to the Los Angeles County Economic Development Corporation (LAEDC) agreement approved by City Council on May 21, 2007, through Resolution No. 9322. If you have any questions regarding this matter, please call Mr. Robert Toering, at (323) 583-8811 ext. 277. Very truly yours, NellY G City Clerk NG:dr c: Robert Toering Resolution No. 9322 Agreement File No. 07-052 Eicc(usivefy Industfiaf rn CONTRACTUAL AGREEMENT OF SERVICES This Agreement is executed and made effective as of the 24TH day of May of 2007, by and between Vernon Chamber of Commerce, 3801 Santa Fe Avenue, Vernon, California 90058 ("CHAMBER"), and the City of Vernon, 4305 Santa Fe Ave., Vernon, California 90058 ("CITY"). Whereas: The CHAMBER is interested in assisting the CITY in the effort to update the economic impact study, being performed by the Los Angeles Economic Development Corporation ("LAEDC"), by developing an up to date list of the residence zip codes for the individuals currently employed by the businesses operating within the CITY, and... This project directly supports the mission and objectives of the CHAMBER in its goal to improve the Vernon businesses community's economic vitality and promote the Vernon's industrial base and 44,000 jobs that thrive in Vernon, and... The CHAMBER actively collects economic data and tracks industry trends in Vernon on an ongoing basis. The CHAMBER is capable and willing to work with all Vernon businesses to collect zip codes for employees who live within the surrounding region and provide that data to the CITY for its use. One use of which will be the separately funded study with the LAEDC, and... The CITY desires to retain the services of the CHAMBER, under the terms and conditions stated here under. Therefore, the parties agree as follows: A. DESCRIPTION OF SERVICES: CHAMBER will work with its existing relationships with HR Professionals and Owners/Plant Managers to collect employee zip code information. Outline: 1. Letter mailed to all businesses with directions on how to return confidential data. 2. Work with Company leadership and payroll service companies (ADP / Paychex) to initiate reports and return to Chamber. 3. Intense follow-up by Vernon Chamber staff via e-mail, fax, and phone. B. DESCRIPTION OF DELIVERABLES: CHAMBER will deliver to CITY the following: 1. A list, in Zip Code order, indicating quantities of Vernon employed individuals residing in each zip code. 2. A more complex list, sorted by SIC or NAIC code, showing the quantities of Vernon employed individuals residing in each zip code and working in each particular business coded activity. C. LEVEL OF SUPPORT COMMITMENT: The CHAMBER will employ two staff members to lead this project within a 45-day turnaround and/or coincide with pending CITY and LAEDC timelines. Intense follow-up will be conducted and the CHAMBER's goal is to have a higher rate of return than the percentage that was gathered in the previous study. D. PAYMENT: CITY will pay to CHAMBER the amount of $15,000.00 for the efforts and deliverables described in this contract. E. RIGHTS TO INFORMATION: The information discovered or identified by CHAMBER in the conduct of this contracted service to the CITY, shall be the property of CITY. CHAMBER may utilize the information for continued CHAMBER activities, but may not sell or otherwise distribute the data to a third party without the express written consent of CITY. F. CONTINGENT SUPPORT: Immediately following execution of this Agreement, CITY will provide CHAMBER with copies of all available information/records on the businesses currently located in Vernon indicating their respective SIC or NAIC codes. G. TERM / TERMINATION: This Agreement shall be effective for three (3) months from the effective date noted in the first sentence of this agreement, or until all deliverables identified in B have been delivered, which ever occurs first. Should CHAMBER fail to provide the specific level of support identified in paragraph C, or the deliverables specified in paragraph B, CITY may terminate this Agreement for cause, prior to expiration, by providing written notice to CHAMBER. H. RELATIONSHIP OF PARTIES: It is understood by the parties that CHAMBER is an independent contractor with respect to CITY, and not an employee of CITY. CHAMBER shall not receive any other compensation from the CITY or participate in or receive benefits under any of the CITY's employee fringe benefit programs or receive any other fringe benefits from the CITY on account of services hereunder (including without limitation health, disability, life insurance, retirement, pension and profit sharing benefits), except for the amount set forth in Paragraph D. ASSIGNMENT: This Agreement shall not be assignable by either party. 2 J. NOTICES: Any notice required or permitted to be given under this Agreement shall be deemed properly given if in writing and delivered by hand and receipt is acknowledged by the party to whom said notice shall be directed, or if mailed by certified or registered mail, postage prepaid with return receipt requested, or sent by express courier service, charges prepaid by shipper, to the addresses of each party stated above (or to such other address as a party is directed pursuant to written notice from the other party). K. ENTIRE AGREEMENT: This Agreement contains the entire agreement of the parties regarding the Services and Deliverables described in Paragraphs A and B and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties. L. AMENDMENT: This Agreement may be modified or amended if the amendment is made in writing and is signed by both parties. M. SEVERABILITY: If any provision of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited. N. WAIVER OF CONTRACTUAL RIGHT: The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. O. APPLICABLE LAW: This Agreement shall be governed by the laws of the State of California. P. HEADINGS: The headings of the Paragraphs are for convenience only and shall not control or affect the meaning or construction or limit the scope or intent of any of the provisions of this Agreement. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. L 9 CHAMBER: date or: Vernon Chamber`"( 3801 Santa Fe Avenue Vernon, CA 90058 CITY: `� date For: City of Vernon, 4305 Santa Fe Ave. Vernon, California 90058 APPROVED TO FORM: U' 1 Jef . H ison, City Attorney 4 4305 Santa Fe Avenue, Vernon, California 90058 Telephone (323) 583-8811 May 24, 2007 Los Angeles County Economic Development Corporation Attn: Nancy D. Sidhu, Vice President/Senior Economist 444 S. Flower St., 34th Floor Los Angeles, CA 90071 Re: Professional Consulting Services Agreement Dear Ms. Sidhu: In accordance with Section 11 of the above -referenced agreement, you are to furnish the City with proof of insurance as set forth. Please submit your insurance documents to Willard Yamaguchi, Risk Manager, for review and approval. Upon approval of said documentation, this office will forward to you a fully executed duplicate original agreement. If you have any questions regarding this matter, please contact Mr. Willard Yamaguchi at 323/583-8811 ext. 175. V y truly yours, Y Ne y Ai on City Clerk NG:dr CC: Willard Yamaguchi Robert Toering Karina Rueda Resolution No. 9322 Agreement File No. 07-052 E rfusivefy Industriaf RISK MANAGEMENT OFFICE INTER -DEPARTMENT MEMORANDUM DATE: June 13, 2007 TO: Nelly Giron City Clerk FROM: Willard G. Yamaguchi Chief Deputy City Attorney/Risk Manager RE: Los Angeles County Economic Development Corporation Please be advised that the above referenced has provided acceptable insurance coverage. Attached for your retention are original insurance certificates and related policies, declarations and/or endorsements for the above -referenced insured that were issued by: • Great American Insurance (General Liability, Automobile Liability, and Excess/Umbrella Liability) • Everest National Insurance (Workers' Compensation) This concerns Resolution No. 9322, Agreement No.07-052. WY/kr cc: Robert Toering AOORD CERTIFICATE OF LIABILITY, INSURANCE O P ECONO-5 DATE(MNUDD/YY 06 -07 07 PRODUCER Grosslight Insurance, Inc. Carla Ames 1333 Westwood Blvd. Ste. 200 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. Los Angeles CA 90024 Phone:310-473-9611 Fax:310-312-4993 INSURERS AFFORDING COVERAGE NAIC# INSURED INSURER A: Great American Insurance 16691 INSURERS: Everest National Insurance CloIO120 Economic Development Corp. of Los Angeles County 444 S. Flower St. 34th Floor Los Angeles CA 90671 INSURERC: INSURERD: INSURER E: COVERAGES THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSRLTR NSR TYPE OF INSURANCE POLICY NUMBER DATEY/EFFECTIVE POLICYEXPIRATION DD/W N LIMITS A GENERAL LIABILITY X COMMERCIAL GENERAL LIABILITY CLAIMS MADE a OCCUR PAC1016 3 4 3 09/01/06 09/01/07 EACH OCCURRENCE $ 1, 0 0 0, 0 0 0 PREMISES (Ea occurence) $ 10 0, 0 0 0 MED EXP (Any one person) $ 5 , 0 0 0 PERSONAL & ADV INJURY $ 1, 0 0 0, 0 0 0 GENERAL AGGREGATE s2,000,000 GENT AGGREGATE LIMIT APPLIES PER: X POLICY PRO LOC JECT PRODUCTS - COMP/OP AGG $ 2 , 0 0 0 , 0 0 0 A AUTOMOBILE LIABILITY ANY AUTO ALL OWNED AUTOS SCHEDULED AUTOS HIRED AUTOS NON -OWNED AUTOS PAC1016343 09/01/06 09/01/07 COMBINED SINGLE LIMIT (Ea accident) $ $1, 000, 000 BODILY INJURY (Per person) $ X BODILY INJURY (Per accident) $ X PROPERTY DAMAGE (Per accident) $ GARAGE LIABILITY ANY AUTO AUTO ONLY - EA ACCIDENT $ OTHER THAN EA ACC AUTO ONLY: AGG $ $ A EXCESSIUMBRELLA LIABILITY X I OCCUR CLAIMSMADE DEDUCTIBLE X RETENTION $10 , 0 0 0 UMB1016344 09/01/06 09/01/07 EACH OCCURRENCE $ 5, 0 0 0, 0 0 0 AGGREGATE $ 5, 000, 000 $ $ B WORKERS COMPENSATION AND EMPLOYERS' LIABILITY ANY PROPRIETOR/PARTNERlEXECUTIVE OFFICER/MEMBER EXCLUDED? If yes, describe under SPECIAL PROVISIONS below CA20010934071 06/08/07 06/08/08 X TORY OMITS ER E.L. EACH ACCIDENT $ 1, 000, 000 E.L. DISEASE - EA EMPLOYEE — $ 1, 0 0 0 , 0 0 0 E.L. DISEASE - POLICY LIMIT $ 1, 0 0 0 , 0 0 0 OTHER DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES / EXCLUSIONS ADDED BY ENDORSEMENT / SPECIAL PROVISIONS Certificate holder is included as additional insured under the general liability policy but only as respects liability arising out of operations of the named insured. *Except 10 days notice of cancellation for non-payment of premium. CERTIFICATE HOLDER CANCELLATION CITYVER SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL 3 0 * DAYS WRITTEN City of Vernon NOTICE TO THE CERTIFICATE HOLDER NANED TO THE LEFT, BUT FAILURE TO DO SO SHALL Attn: Risk Management 4305 Santa Fe Avenue IMPOSE NO OBLIG ION OR LWf ILITY NY KIND UPON THE INSURER, ITS AGENTS OR Vernon CA 90058 REPRESENTATIV ACORD 25 (2001108) 1 © ORD CORPORATION 1988 VAUn VVG/ VVD r ax berver 2001 EcOnomic :DevelopmeM of Los Angeles: County Rcsli�y Nut�t�r:,FACiQ�63h31� bI �IAtleHtr PiUM3t "1' O PCB. ft&4ft MAD IT CAPOULY. We OUR MMIA Rwd AW k�Wrr : PrV4d#d # -JW sett tom. M*WL SLnTCojnM#.%PAW amp 3. its ftv6wkv. is:addre# to amm it Vum rownt t* of - IF - wmxwo ferdnd 1iY1t:. 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X3. 3 sty o!. qMuns Policy Number, ARCitl1W312 wvk` duo : t4' ,a Omowd for *4 p&*w .a ae on: aw kIdLA'd .h xr�l" x faw waft onwim ++w "Wit ar.apeseasIftn s:p+E?OM 'bv or a .15"f psi is aww: lindW4 of sly MftvM"_ .*W 04rwd rs or ice'; i�� ftC C/O11'Or` .a p�',!peio a r�raoefa ��. dwets at f�fvar�low Wwd!cxft pAikwMan of w4tifi4 in my. n to widdrs S .pMmla i!#rlvaol;.:cx Server EConomic Deveiopmoot of kiss Angel" Gvunty �. >' ink t�liAe�bt rr; 11�ti�» a° al>a� tf' dlw�s4gr: t'tt�;t�iSQf orn ift" A I" draww J i y'�d�rat�ws�ltnl', 'air 7t N>Plrl. kxw'rrru. APOLISOL, MMALSA44 gamy lam. 1plQti�+ V - DMfI�IF: iHNtt �I,. 'fa r!pliq�d W�IIx' *111colft. ftrf Mwo of rjss�r, > :or ditMMNa�, t 401 t�f i POP - soft waodly l"w sibs pn.atr.: tt+atr+i Wit: rnOOft. k+ it WOM MOW k%WY. rx Muck• *WAUT 4: Apr d1aA�wi. to ht.par�ctn lk :�CA'ilo ts'70N. t1E - � � 1* loL'M* ANM it r+lpid' by gut 1o*wft 1+]ilsW Ok- i4+M.pr �li�i1.�°d+a.drs�tw at: _ a. i►i0. a` fit. TM stoat *~.let DOd**kxw f" &%ftet 15cpi MM Ll4 n iR � �0"A1�Ct4'I< [s:at#J1� sa; Mt:li� i�e�a: G. !►l�Yst� bi rvr�lutitid lajr ah. p� o! tip cwwvt ft t of by tseten k :is:ropbow whir Policy. Number: PA00-1163,4312 14 1.'alfdul. to- I.Ip`: FM hM PAMd 10 Y40 UMiik:;tom 6 wit *V w4w ca"W p 4 : bwauft-of" ra ctl► :lrtrirptt* AM. vow bdk*4L or Itt fir• 44M. 6A** Y. dnd aoe*o whu at ift ii�Mr. 'r 7f siYl. o . am tzk A#Ct1M PAO" To YIW k fdoiMd by _et! +arawba DOnW t.pronlowis RAT*:You r VIM �a its Pr k " 3itrftd TO v UM4.� ihi watt v -f fdr 004"t. or, ftsni w » Aw tau Una L prWAtiolt ' ialbj t'ta ti�.i t�rilit �l� ~ 4WINWRAMM C. ""A OMWAUDs- tai�at 3o flat. a� v- VLAM A 11110". # it Ak� XW r by#*.'*' Wobt* Of:t* i:lr*! or �tetdonsenteeL OUrnXM 'A11lY': PAYMOM A. 1n . LJYt+lttrA�rtt !�►"fl+lt 8 . COVOIRAO":�4:.�nd� wo (,lp va'swo f awdt:.a4 bo btu vrt w t applfrOL do VVkxio: cnprio tro :rr�ri a k'arra vo Zfias" Of flee V-ft :00 02 24 Od.: 1IM1 XS ; 4 of ..4) * ;;Sl*09/06106*PAC1016343-1.2 C 0694819 Administrative Office CG 74 00 (E d 07 / 01 580 Walnut Street R������ Cincinnati, Ohio 45202 MERICAN. Tel: 1-613-369-5000 IMIURU6E"OuP - Po I icy: PAC 101 - 63 - 43 12 BUSINESSPRO GENERAL LIABILITY COVERAGE PART DECLARATION PAGE NAMED INSURED: ECONOMIC DEVE-LOPMENT CORP. POLICY PERIOD: OF LOS ANGELES COUNTY 9/01l2006to 09/01l2007 LIMITS OF INSURANCE: General Aggregate Limit (Other Than Products - Completed Operations) $ 2,000,00.0 Products - Completed Operations Aggregate Limit $ 2,000,000 Personal and Advertising Injury Limit $ 1,000,.000 Each Occurrence Limit $ 1,000,00 ,Damage to Premises Rented to You Limit Medical Expense Limit: $ 100,000 Any One Premise 5,000 Any One Person FORM OF BUSINESS: CORPORAT[ON TOTAL ESTIMATED PREMIUM: $12,169.00 Products/Completed Operations $ S All Other 12,189.0.0 oc.ation: 0001 Building: 0001 444 S FLOWER STREET LOS ANGELES, CA 90071 ocaton: 0003 Building: 0001 350 S FIGUERQA ST., STE 172 LOS ANGELES,, CA 90071' Location: 0002 Building: 0001 1 WORLD TRADE CENTER, STE 410 LONG BEACH, CA 90831 'ODE NUMBER: 44444- PREMI Uiill BA51S: MANUAL KA I tU - IVU19- -lassification: PREMISES/OPERATIONS AND PRODUCTS/COMPLETED OPERATIONS - NOC CG 74 00 Products/Completed Operations All Other EXPOSURE: EXPOSURE: IF ANY RATE: RATE: PREMIUM: $0..00 PREMIUM: $123.00 BUSINESSPRO (Reg.. U.S. Pat. Off.) 07/01 (Page 1 of 4 ) XOMWOTME41VE UNTS A Administrative Offi CG 88 01 (Ed.1 1 /85 1 580 Walnut Street Cincinnati, Ohio 457 GREAT Tel: 1-513-399-5000 INSURANCE Mc OUP Po I iy: PAC 101 -63-43 12 BUSINESSPRO FORMS AND ENDORSEMENTS SCHEDULE J.-Az. t- 0694819 It is hereby understood and agreed the following forms and endorsements are attached to and are a part of this policy: Date Added* or Form and Edition Date Deleted Form Description 1. CG0001 12104 COMML GENERAL LIABILITY COVERAGE 2. CGO067 03/05 EXC-VIOLATION OF STATUTES .3. C G2116 07/-98 EXCL-DESIGNATED PROFESSIONAL SERV 4. CG2144 07/98 LIMITATION TO DESIGNATED PREM/RROJ 5i CG2147 07f98 EMPLOYMENT RELATED PRACTICES EXCL 6. CG2171 12/'02 LTD TERROR: EXCL(O/t CE.RTIF.IE,D)CAP L 7. GG2176 11/02 EXCL OF PUN DAMAGES RELATED TO TERR 0. CG2426 07t04 AMENDMENT OF INSURED CONTRACT DEFIN 9. CG3234 01/05 CALIFORNIA CHANGES 10. CG7400 07/01 GENERAL LIABILITY DEC PAGE 111. CG7518 03t90 EMPLOYEE BENEFITS DEC 12. CG7519 10/03 EMPLOYEE BENEFITS COVERAGE 13. CG7625 12/04 EXCL-TOTAL POLLUTION WIHOSTILE 14. CG7794 07/98 EXCL-LIABILITY ARISING OUT OF LEAD 15. CG8224 12/01 SOCIAL SERVICE AGCY GL BROADENING 16. CG8361 02/05 SILICA OR DUST RELATED EXCL 17. SDM557 12/04 NOTICE TO POLICYHOLDER * IF NOT AT INCEPTION [,-CG -88 01 11/85 (Page 1 of 1 ) Best's Rating Center - Company Information for Great American Insurance Companies Page I of 2 Industry Research Ratings Defrcttioris ► Search Bests Ratings Press Releases Related Products ►1 Industry & Regional Country Risk How to Get Rated Contact an Analyst View Ratings Financlal.Strength tssuer_Credit Securities Advanced Search. Great American Insurance Companies Other Web Centei (a member of Great American P& C_ Insurance Grp) Assigned to companies that A.M.Best #: 06990 have, in our opinion, an ; Stock Ticker: New York Stock Exchange NYSE AFG The Nasdaq Stock Market NASDAQ AFG excellent ability to meet their ongoing obligations to Address: 580 Walnut Street, Phone: 513-369-5000 policyholders. - 12th Floor Fax: 513-369-3600 Cincinnati, OH 45202 Web: www.areatamericaninsurance.com Best's Ratings Financial Strength Ratings View Definitions Rating: A (Excellent) Financial Size Category: XIV ($1.5 Billion to $2 Billion) Outlook: Stable Action: Affirmed Effective Date: November 28, 2006 * Denotes Under Review Best's Ratings Reports and News Visit our NewsRoom for the latest news an_ d_press releases for this company and its A.M. Best Grou f Bests Corn ny__R ort - includes Best's Financial Strength Rating and rationale along witl analytical commentary, detailed business overview and key financial data. Report Revision Date: 11 /28/2006 (represents the latest significant change). Historical Reports are available in Bests _Company -Re eortArchive. Best's Executive Summary Reports (Financial Overview) - available in three versions, th, `✓� style reports feature balance sheet, income statement, key financial performance tests incluc liquidity and reserve analysis. Data Status: 2007 Best's Statement File - P/C, US. Contains data compiled as of 5/31/2007 Checked). • Single Company - five years of financial data specifically on this company. • Comparison - side -by -side financial analysis of this company with a peer group of up to companies you select. • Composite - evaluate this company's financials against a peer group composite. Report average and total composite of your selected peer group. Note: Adobe Reader is required to view the reports listed above. This software is available fi Systems Inc. An Excel export option is also available once the report has been opened usinc Best's Key_Rating_Guide Presentation_Report- includes Bests Financial Strength Rating as provided in Best's Key Rating Guide products. Data Status: 2005 Financial Data (Quality Cross Checked). Financial and Analytical Products Best's Property/Casualty _Center - Premium. Data & Reports Best's Key Paling Guide- P/C, US &_Canada Best's Statement File - P/C, US Best's Statement File - Global http://www3.ambest.comlratingsIFullProfile.asp?BI=O&AMBNum=5990&A1tSrc=l&AItN... 6/5/2007