HomeMy WebLinkAboutItem JJune 26, 2000
STAFF REPORT
To: Mayor and Members of the City Council
Thru: Keith R. Till, City Manager
From: Stephen G. Badum, Director of Public Works /City Engineer
Subject: AWARD PROFESSIONAL SERVICES AGREEMENT —
FINANCIAL ENGINEERING CONSULTING SERVICES
FOR BIXBY OLD RANCH TOWNE CENTER PROJECT
SUMMARY OF REQUEST
The proposed action will execute a professional services agreement in the amount of $79,000
to retain Harris & Associates to perfonn financial engineering in conjunction with the proposed
Community Facilities District (CFD) for the Bixby Old Ranch Towne Center project.
DISCUSSION:
As a condition of the approved development agreement between the City and Bixby Ranch
Company, it was agreed that a landscape maintenance district be established for the purposes
of maintaining the proposed landscaped medians for the Bixby Old Ranch Towne Center
project.
City Staff has solicited a proposal from a qualified financial engineering firm, Harris &
Associates to provide the necessary services to form a CFD. The scope of services has been
separated into four phases of work including: 1) Cost apportionment Study to determine
project costs and the appropriate cost sharing for each property within the district, 2) District
Formation Services which will provide the documentation, maps, and legal processes necessary
to form the CFD; 3) Acquisition Audit Services which will establish the methodology and
procedures for setting reimbursement eligibility and confirmed costs; and 4) Annual
Administration Services in connection with the required preparation of the annual tax levy.
FISCAL IMPACT:
There is no cost to the City, since all costs to form and maintain the CFD are included
within the levied assessments.
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AGENDA ITEM
i
Award Professiona /Services Agreement
City Council Staff Report
June 26, 2000
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to execute a professional
services agreement with Harris & Associates to perform financial engineering in conjunction
with the proposed Community Facilities District (CFD) for the Bixby Old Ranch Towne
Center project at a cost not to exceed $79,000.
BY:
Stephen G. Badum, P.E., Director
Public Works Department
NOTED AND APPROVED:
Keith R. Till
City Manager
AGENDA ITEM_