Draft Scope of Work_20_.pdf

EXHIBIT A

SCOPE OF WORK

Third-Party Property Management Services

City Plaza – 133 Trinity Avenue SW, Atlanta, GA 30303

1. Purpose

The City of Atlanta (“City”) seeks professional third-party property management services for the mixed-use development known as City Plaza. The selected Property Management Firm (“Manager”) shall provide full-service residential and retail in accordance with industry best practices, applicable laws, and City requirements.

2. Property Overview

2.1 Residential Component

• Total units: 164 apartments o 69 one-bedroom units (approx. 707 sq. ft. to 777 sq. ft.)

o 95 two-bedroom units (approx. 967 sq. ft. to 1,200 sq.ft.)

• Net rentable area: approx. 143,000 sq. ft.

• Building 1 (Central & Mitchell St.): 92 units, currently 86.6% occupied

• Affordable units: 37 designated units

• Unit features include:

o Stainless steel appliances o Ceramic tile backsplash o Faux-granite countertops o Faux-wood flooring

2.2 Retail Component

• Ground-floor retail: 28,192 sq. ft.

o City of Atlanta agencies: 25,629 sq. ft.

o American Deli: 2,563 sq. ft.

2.3 Parking Facilities

• 274-space parking garage

• 52-space surface lot

• Parking is professionally managed by an existing third-party provider, Lanier Parking, which administers payments and provides monthly reporting to the City’s Department of Enterprise

Asset Management – Real Estate Division.

• Parking is not included in residential leases; residents receive one discounted-rate vehicle.

2.4 Current Operating Snapshot

• Property vacancy: 14.60%

• Estimated stabilized monthly income: $276,658

• Average monthly operating expenses: $188,371

3. Term of Agreement

• Initial term: Five (5) years

• Option: One (1) additional five-year renewal at the City’s discretion

4. Scope of Services

4.1 General Property Management

The Manager shall:

• Oversee day-to-day operations of the residential and retail spaces

• Ensure compliance with federal, state, and local regulations

• Enforce lease agreements and property rules

• Maintain accurate records and provide all required reporting

• Uphold safety, security, and customer service standards

4.2 Leasing & Marketing

• Develop and execute a comprehensive leasing and marketing strategy

• Maintain occupancy levels in alignment with City performance goals

• Conduct market analyses, rent studies, and competitive assessments

• Manage affordable unit compliance and lease-up requirements

• Maintain a digital and physical presence (website listings, signage, outreach marketing)

4.3 Maintenance & Facility Operations

• Conduct routine, preventive, and emergency maintenance

• Maintain all building systems, equipment, and common areas

• Manage work orders, vendor coordination, and procurement

• Implement and maintain a capital improvements plan (as directed by City)

4.4 Financial Management

• Prepare annual operating budgets, forecasts, and variance reports

• Manage rent collection, accounts payable, and receivables

• Provide monthly, quarterly, and annual financial statements

• Ensure compliance with generally accepted accounting principles (GAAP) and City standards

• Monitor and report on operating income, expenses, and cash flow performance

4.5 Resident Relations

• Maintain responsive communication channels with residents

• Address service requests, complaints, and resident concerns promptly

• Coordinate community engagement activities when appropriate

• Ensure application of consistent, fair-housing-compliant procedures

4.6 Retail Tenant Management

• Manage tenant relations for the retail tenants not directly overseen by the City

• Enforce lease terms, coordinate vendor access, and support compliance matters

• Monitor and report on tenant performance and space utilization

4.7 Parking Coordination

• Coordinate with Lanier Parking to ensure:

o Accurate reporting o Resident discount management o Communication regarding garage operations, maintenance, and revenue

4.8 Reporting Requirements

Manager shall submit the following to the City:

• Monthly operational reports, including occupancy, traffic, leasing, and delinquency

• Monthly financial statements and rent roll

• Quarterly performance reports

• Annual operating budget proposals

• Any additional reports requested by the Department of Enterprise Asset Management

5. Performance Standards

The Manager shall meet or exceed the following expectations:

• Maintain occupancy aligned with market conditions and City targets

• Maintain high resident satisfaction levels

• Keep delinquencies within acceptable thresholds

• Ensure property is maintained in high-quality condition at all times

• Comply with all affordability program requirements

• Meet all reporting deadlines

6. City Responsibilities

The City will:

• Provide access to existing property information, systems, and records

• Coordinate as needed with Lanier Parking regarding parking operations

• Review and approve budgets, contracts, and financial submissions

• Provide oversight through the Department of Enterprise Asset Management – Real Estate

Portfolio Division

7. Deliverables

The Manager must deliver:

• Monthly Operations Report

• Monthly Financial Package

• Annual Budget and Capital Improvement Plan

• Leasing and Marketing Plan

• Compliance and Affordable Housing Reporting (as applicable)

• Incident, safety, and emergency reports

• Other deliverables as requested

8. Compensation

Compensation structure shall be negotiated separately and formalized in the Management Agreement, including:

• Management fees

• Incentive fees (if applicable)

• Reimbursable expenses

• Capital project management fees (if applicable)

END OF SCOPE