Draft Scope of Work 6_1.docx

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

· 69 one‑bedroom units (approx. 707 sq. ft. to 777 sq. ft.)

· 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:

· Stainless steel appliances

· Ceramic tile backsplash

· Faux‑granite countertops

· Faux‑wood flooring

2.2 Retail Component

· Ground‑floor retail: 28,192 sq. ft.

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

· 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:

· Accurate reporting

· Resident discount management

· 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