Title
Resolution to Approve Renewal and Amendment No. 1 the Professional Services Agreement with PFM Group Consulting LLC for Development Proposal, Economic and Financial Analysis ($100,000.00 increase, total contract not-to-exceed $175,000.00)
Memorandum
Attached for your review and consideration is a resolution approving Renewal and Amendment No. 1 to the Professional Services Agreement with PFM Group Consulting LLC for Development Proposal, Economic and Financial Analysis, which increases the contract amount, and adds tasks to the list of potential work statements to be performed pursuant of the Agreement.
In August 2023, the City entered into a two-year sole-source agreement with PFM Group Consulting to perform as needed financial and economic analysis associated with City participation in proposed developments. To date the City has spent approximately $75,000.00 on analyses related to the Arbor South Development.
On April 7, 2025, City Council approved #R-25-118, which directed the City Administrator to Negotiate City Participation in the Arbor South Project, including potentially owning, operating, and bonding for parking decks. To continue the due diligence related to the development and to comply with #R-25-118 additional analyses are required. Therefore, we are seeking to increase the contract amount by $100,000.00 for a total contract amount not-to-exceed $175,000.00 and to exercise the option to renew the agreement for a one-year period.
Budget/Fiscal Impact: The amount expended under the Agreement will vary based on the analyses that are conducted. Staff are estimating an additional $100,000.00 for purposes of completing the due diligence related to the Arbor South Development. Funding is available in the approved FY 26 General Fund Budget.
Staff
Prepared by: Marti Praschan, Chief Financial Officer
Reviewed by: Michelle Landis, Senior Assistant City Attorney
Approved by: Milton Dohoney Jr., City Administrator
Body
Whereas, In Aug...
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