DATE:
July 18, 2023
TO:
Mayor and City Council Members
Chair and Board Members, Hesperia Water District
FROM:
Rachel Molina, City Manager
BY:
Casey Brooksher, Assistant City Manager
SUBJECT:
Amend Agreement with Fieldman, Rolapp & Associates for Financial Advisory Services
RECOMMENDED ACTION
It is recommended that the City Council and Board of Directors of the Hesperia Water District authorize the City Manager to amend the current agreement with Fieldman, Rolapp & Associates in the amount of $34,200 for financial advisory services related to assessing the financial capacity needed for funding and operating a wastewater treatment plant, for a total not-to-exceed contract amount of $84,200.
BACKGROUND
The City currently contracts with Fieldman, Rolapp & Associates for financial advisory services related to the Silverwood/Tapestry development project, including fiscal impact analysis services related to the California Municipal Finance Authority (CMFA) Bond Opportunities for Land Development (BOLD) program, and the related services Community Facilities District (CFD), for which the cost of these services (BOLD/CFD) will be reimbursed by the developer.
ISSUES/ANALYSIS
An amendment to the agreement with Fieldman, Rolapp & Associates is needed for separate financial advisory services related to the development of a financial pro-forma to determine the financial capacity needed to operate a wastewater treatment plant, along with projecting the debt service that could result from the construction of a treatment plant.
FISCAL IMPACT
Funding for these services will be included as part of the FY 2023-24 First Quarter Budget Amendment for the Sewer Operating Fund.
ALTERNATIVE(S)
Provide alternative direction to staff.
ATTACHMENT(S)
None
City of Hesperia STAFF REPORT City of Hesperia STAFF REPORT City of Hesperia
STAFF REPORT
City of Hesperia
STAFF REPORT
Staff Report to the Mayor and City Council Members
Amendment to Agreement with NBS
June 20, 2023