Report to Mayor and City Council
Tuesday, July 05, 2022
Consent
SUBJECT:
Title
CONSIDER CONTRACT AMENDMENT NO. 2 WITH NBS GOVERNMENT FINANCE GROUP TO PROVIDE COMMUNITY FACILITIES DISTRICT(S) CONSULTING SERVICES (CITY COUNCIL)
Body
I. SUMMARY
On August 7, 2018, the City and NBS Government Finance Group ("NBS") entered into an agreement for Community Facilities District ("CFD") formation services (Exhibit No. 1). NBS's scope of services consists of four components: (1) initial CFD formation for the City-wide future annexation area; (2) fiscal impact analysis to establish the tax rates for new residential and industrial projects; (3) future CFD annexation services for new projects/developments; and (4) ongoing administration of CFD. The term of the Original Agreement was August 7, 2018 to June 30, 2019 with a total contract sum of not-to-exceed $78,500. On June 16, 2019, the Agreement was amended to extend the term for three years and increase the maximum contract amount by $273,000 to cover the additional three-year term (Exhibit No. 2).
Staff is now requesting an approval of the proposed Amendment No. 2 (Exhibit No. 3) to make minor adjustments to the schedule of compensation, make changes to the designated personnel Consultant will use to perform the Services, and extend the Term of the Agreement by an additional two years in lieu of the two one-year extensions originally provided for in the Agreement. If approved as recommended, the maximum contract amount would remain at $351,500 from the original approval date to June 30, 2024. Most of the costs are paid for by planning deposits for new development projects and from CFD proceeds. This amendment is necessary to continue adding new annexations to the Citywide CFD and to administer the Citywide CFD going forward.
II. RECOMMENDATION
Recommendation
TAKE the following actions:
1. APPROVE Amendment No. 2 to the contract with NBS extending the term through June 30, 2024 in the current not-to-exceed amou...
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