One Sansome St., Suite 3500 San Francisco, CA 94104 phone: 949.660.7300 fax: 949.474.8773 www.fieldman.com June 13, 2024
Ms. Wendy Collazo
Financial Services Director
City of Redondo Beach
415 Diamond Street, Door 1
Redondo Beach, CA 90277
Re: Financial Calculations for General Obligation Bond Measure Dear Ms. Collazo,
Fieldman, Rolapp & Associates, Inc. (“Fieldman”) is pleased to submit the proposed scope of services outlined in Exhibit A and related compensation to the City of Redondo Beach (the “City”) for municipal advisory services related to financial calculations pertaining to a potential general obligation bond measure in 2024 (the “Project”). Fieldman will serve the City as an independent registered municipal advisor in a fiduciary capacity under the meaning established by the Securities and Exchange Commission with respect to the Project.
We propose an hourly not-to-exceed fee of $5,000 plus $750 for out-of-pocket expenses, for the municipal advisory services performed in connection with the Project. Additionally, for services related to materials associated with the ballot, such as the Tax Rate Statement, we propose an hourly not-to-exceed fee of $2,500. Our hourly fee schedule is provided in Exhibit B. Please note these are our best estimates of the time involved in these tasks based upon similar types of engagements for other clients.
We will provide a thoughtful, rigorous and quantitatively based approach in assisting the City with the Project. If the proposed scope of services and compensation is acceptable to the City, please sign in the space below. Thank you for this opportunity and we look forward to assisting the City with this important assignment.
Sincerely,
FIELDMAN, ROLAPP & ASSOCIATES
James V. Fabian
Principal
AUTHORIZATION TO PROCEED
City of Redondo Beach
By:
Title:
Date:
Exhibit A
Scope of Services
Our scope of services includes, among others, the following specific tasks:
1. Develop comprehensive financial projections considering various scenarios.
Tasks may include:
a. Gather necessary data, inputs and assumptions such as the City’s historical assessed valuation information, to develop the financial analysis. b. Develop key assumptions for the financial model based on historical data and City input.
c. Conduct scenario analysis to assess the financial impact of various scenarios. d. Provide ongoing support and updates to the financial analysis, including any revisions as needed.
2. Assist with the preparation of a Tax Rate Statement, if requested by the City.
3. Attend virtual meetings and conference calls as necessary and as requested by the City.
Assist staff in the preparation of reports or materials to City Council.
4. Collaborate closely with City departments, project stakeholders, and external partners to ensure alignment and coordination of efforts.
Exhibit B
Hourly Fee Schedule
SCHEDULE OF HOURLY RATES
EFFECTIVE JANUARY 1, 2024
Executive Officer $415 Per Hour
Principal $405 Per Hour
Senior Vice President $394 Per Hour
Vice President $336 Per Hour
Assistant Vice President $310 Per Hour
Senior Associate $279 Per Hour
Associate $247 Per Hour
Analyst $137 Per Hour
Administrative Assistant $100 Per Hour