Report to Mayor and City Council
Tuesday, March 16, 2021
Consent
SUBJECT:
Title
CONSIDER APPROVAL OF AMENDMENT NO. 4 TO AGREEMENT WITH KOSMONT & ASSOCIATES INC. (C-17-014) FOR ENHANCED INFRASTRUCTURE FINANCING DISTRICT CONSULTING SERVICES (CITY COUNCIL)
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I. SUMMARY
Since 2017, Kosmont & Associates Inc., has provided Enhanced Infrastructure Financing District (EIFD) Consulting Services to the City. The current contract is scheduled to expire on June 30, 2021. With the County's recent willingness to participate in the Carson EIFD, certain formation steps would have to be retaken. These formation steps will take several months to complete and will go beyond the June 30, 2021 contract expiration date. The proposed Kosmont Contract Amendment ("Amendment No. 4") extends the term at no additional costs to the City from an end date of June 30, 2021 to June 30, 2022. The additional time is needed due to extended negotiations with the County. The extension would also provide the City with EIFD consulting services necessary to complete the EIFD formation. Staff anticipates the EIFD formation process to be completed in the 2021 calendar year, however, is requesting a contract end date of June 30, 2022 to account for unexpected delays. Lastly, Amendment No. 4 does not add any additional tasks to the existing scope.
II. RECOMMENDATION
Recommendation
TAKE the following actions:
1. APPROVE Amendment No. 4 to the Contract Agreement with Kosmont & Associates, extending the term by one-year through June 30, 2022 at no additional to the cost to the City and;
2. AUTHORIZE the Mayor to execute the Agreement, following approval as to form by the City Attorney.
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III. ALTERNATIVES
TAKE any other action the City Council deems appropriate.
IV. BACKGROUND
Original Kosmont Contract (EIFD Feasibility Evaluation Phase)
In February 2017, the City entered into an agreement with Kosmont & Associates to evaluate the feasibility of establishing an Enhanced Infrastruct...
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