HomeMy WebLinkAbout8 Munifinancial Contracts Agenda Item # �f
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To: Board of Directors
From: Peter Holzmeister
Date: November 14, 2003
Subject: MuniFinancial contracts
Why this matter is before the board: This matter involves changing two contracts that
had been approved by the board. The board would be the appropriate body to amend
the contracts.
History: We employed the services of MuniFinancial to perform two studies. One study
was preparation of a Donner Lake Equalization Fee. This fee will be used to initiate an
assessment for any vacant parcel that develops which benefits from the reconstructed
Donner Lake water system. The fee makes sure that new development pays its fair
share of the Donner Lake assessment.
The second study is the Finance Master Plan. You are already familiar with the Master
Plan; it was the subject of a workshop and is being used in conjunction with preparation
of the budget for 2004.
The contract amount for the Master Plan is $50,390 and for the Equalization Fee is
$15,500, for a total of $65,890.
New information: As it turns out, MuniFinancial has overspent its contact amount on the
Master Plan Study and has underspent its contract on the Donner Lake Equalization Fee
Study. MuniFinancial has asked that we transfer $10,500 from the Equalization Fee
Study to the Master Plan Study. There is no change in the total authorization.
The Master Plan Study has been most helpful to us. We worked closely with
MuniFinancial on the study and asked them to make several revisions to early drafts.
These revisions and refinements resulted in the extra time they spent on the project.
Recommendation: I recommend that the board amend the MuniFinancial contracts as
follows:
1. The contract amount for the Donner Lake Equalization Fee Study is reduced
from $15,500 to $5,000.
2. The contract amount for the Finance Master Plan Study is increased from
$50,390 to $60,890.