DATE: October 8, 2024
TO: Mayor and City Council
FROM: Director of Public Works
SUBJECT
Title
Adopt a Resolution Authorizing the City Manager to Execute Amendment No. 1 to the Professional Services Agreement with NHA Advisors, LLC, and Increase the Contract Amount by $65,000, for a Total Not-to-Exceed Amount of $150,000, for Water Infrastructure Finance and Innovation Act (WIFIA) Loan Application and Financial Consulting Services Related to the Water Resource Recovery Facility (WRRF) Improvements - Phase II Project
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RECOMMENDATION
Recommendation
That Council adopts the attached resolution (Attachment II) authorizing the City Manager to execute Amendment No. 1 to the Professional Services Agreement (PSA) with NHA Advisors, LLC to increase the contract amount by $65,000 for a total not-to-exceed (NTE) amount of $150,000 for Water Infrastructure Finance and Innovation Act (WIFIA) Loan Application and financial consulting services related to the Water Resource Recovery Facility (WRRF) Improvements - Phase II Project (Phase II Project).
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SUMMARY
On March 15, 2024, the City entered into an agreement with NHA Advisors, LLC for professional services related to Water Infrastructure Finance and Innovation Act (WIFIA) loan application preparation and related consulting services, in an amount not-to-exceed $85,000. Staff now requires additional support related to developing a long-term financing strategy and expanded financial modeling for the Phase II Project WIFIA loan application and recommends that Council authorize the City Manager to increase the PSA with NHA Advisors by $65,000 for a total NTE $150,000.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution