Loading...
HomeMy WebLinkAbout2007/02/06 Item 13 CITY COUNCIL AGENDA STATEMENT 02/06/2007 Item 13 ITEM TITLE: Resolution of the City Council amending the Fiscal Year 2006-2007 City Council Budget in accordance with the Budget Transfer Policy; approving, in concept, the selection of Economic & Planning Systems (EPS) as the consultant to perform an Independent Financial Review of the City of Chula Vista; and directing the City Manager to proceed with contract negotiations. SUBMITTED BY: INDEPENDENT FINANCIAL REVIEW SUBCOMMITTEE (MAYOR COX AND MEMBER CASTANEDA) COUNCIL COUNCIL 4/STHS VOTE: YES 0 NO D BACKGROUND At the December 5, 2006 Council Meeting Mayor Cox presented her 10-point action plan. Her first point of action was: "An Independent Financial Review of the City's finances, to first put the City's financial house in order, to accomplish the many projects that lie ahead and achieve our goals for our community" In consultation with the Independent Financial Review Council Subcommittee, the Interim City Manager issued a Request for Proposal (RFP) dated January 4, 2007. The completed proposals were due by January 16,2007 at 5 P.M. The RFP indicated that the proposals would be analyzed and the award would be made to the most responsive and responsible bidder whose proposal, in the opinion of the Council subcommittee, best meets or exceeds the requirements in the Scope of Work and is considered to be most advantageous to the City. ENVIRONMENTAL REVIEW Not applicable. 13-1 02/06/2007 Item Jl Page 2 of3 RECOMMENDATION That Council adopt the resolution amending the Fiscal Year 2006-2007 City Council Budget by transferring $40,000 from the personnel category to the supplies and services category to provide the funding for the Independent Financial Review; approving, in concept, the selection of Economic & Planning Systems to perform an Independent Financial Review of the City of Chula Vista for a not to exceed cost of $40,000; and directing the City Manger to proceed with contract negotiations and contract execution. BOARDS/COMMISSION RECOMMENDATION Not Applicable. DISCUSSION The Scope of Work for the Independent Financial Review (Review) is intended to provide a baseline assessment of the current and medium term financial health of the City of Chula Vista and its Redevelopment Agency, particularly in assessing current implications of the past use of financial resources (e.g. MODs, use of redevelopment funds), the current fmancial direction, and recommended course changes in light of debt, obligations, and expenditure levels relative to revenue sources that include but are not limited to fees, property and sales tax, tax increment, and developer impact fees. The City's accounting procedures have been audited and are not a subject of this Review. If, however, during the course of the Review, financial issues of accounting procedures relative to the City's fmancial health are discovered, these shall be identified. The Review should use existing financial materials and reports provided by the City (including, but not limited to, three years of Comprehensive Annual Financial Reports (CAFRs), audits, budgets and mid-period reviews, bond statements, state mandated annual redevelopment reports and any financial forecasts and assessments performed by staff or consultants) to prepare an assessment of the City's current fmancial condition and a five-year forecast. Desired results: · A summary of the current approach used by the City in managing its finances; · A review of the current state of City's financial condition relative to trends in revenues and expenditures, use of debt, development and demographic changes, sufficiency of reserves, and identify opportunities and threats; · A determination of and focus on the most pressing factors on the City's financial condition, to include best case, worst case, and most likely scenarios for the operating budget over a five to ten-year period; 13-2 02/06/2007 Item~ Page 3 of3 . A review of capital, infrastructure, and maintenance commitments and spending; . A review of the past and current use and capability oftax increment financing as a means of promoting redevelopment; . An assessment of the financial implications of unfunded retirement liability; and · Recommendations for strengthening Chula Vista's financial condition with respect to long-term sustainability. The finished product should provide the City Council, City staff and the incoming City Manager with a baseline assessment of how the City of Chula Vista is positioned financially for the present and near future. A fiscal forecast of five to ten years, forecasting revenues and expenditures and balancing them against the last year (e.g., year 2012) of the forecast should reflect the anticipated facilities and major expenditures during the five and ten-year periods. DECISION MAKER CONFLICT Not Applicable. Staff has reviewed the decision contemplated by this action and has determined that it is not site specific and consequently the 500 foot rule found in California Code of Regulations section 1 8704.2(a)(1) is not applicable to this decision. FISCAL IMPACT Approval of this resolution will result in no net impact to the General Fund. The $40,000 proposed to fund the Independent Financial Review is available based on anticipated savings within the City Council's operating budget from reducing the Coastal Environmental Land Use Consultant position from full-time to half-time. ATTACHMENTS A. Request for Proposal of an Independent Financial Review B. Economic & Planning Systems Proposal Prepared by: Dan Forster, Chief of Staff, Mayor's Office 13-3 ~Vt- ~ ~~?"~ AAachmen+A em' OF CHULA VlSfA OFFICE OF THE CITY MANAGER January 4, 2007 REQUEST FOR PROPOSAL INDEPENDENT FINANCIAL REVIEW The City of Chula Vista is requesting proposals for an Independent Financial Review intended to provide a baseline assessment of the City ofChula Vista's current and future fmancial health in accordance with the enclosed Scope of Work, and the City ofChula Vista Standard Terms and Conditions. A sample of the City's standard two party agreement is included for informational purposes. (Agreement to be completed after award.) This is an informal bid with an anticipated value of$30,000. Proposals will be analyzed and award will be made to the most responsive and responsible bidder whose proposal, in the opinion of the Council subcommittee, best meets or exceeds the requirements in the Scope of Work and is considered to be most advantageous to the City. Price and other factors will be considered including the operational requirements of the City and any other factors which will result in the optimum economic benefit to the City. Completed proposals to be received by the City on or before January 16,2007 at 5:00 PM. Point of contact is Finance DirectorlTreasurer Maria Kachadoorian. Questions should be submitted in writing via email: E-mail address: rnkachadoorian@ci.chula-vista.ca.us Telephone number: 619-691-5051 Ex!. 3119 Thank you for your interest in working with the City of ChuIa Vista. .U/~ ~~ ~omson lnteriro City Manager 276 FOURTH AVENUE. CHULA VISTA. CA,I~~R,/'lIA 91910. (619) 691-5031 . (619) 409-5884 @ Post.consu~r Re~led Paper SCOPE OF WORK: INDEPENDENT FINANCIAL REVIEW This Scope of Work for an Independent Financial Review (Review) is intended to provide a baseline assessment of the current and medium term financial health of the City of Chula Vista and its Redevelopment Agency, particularly in assessing current implications of the past use of financial resources (e.g., MOUs, use of redeveiopment funds), the current financial direction, and recommended course changes in light of debt, obligations, and expenditure levels relative to revenue sources that include but are not limited to fees, property and sales tax, tax increment, and developer impact fees. The City's accounting procedures have been audited and are not a subject of this Review. If, however, during the course of the Review, financial issues of accounting procedures relative to the City's financial health are discovered, these shall be identified. The Review should use existing financial materials and reports provided by the City (including, but not limited to, three years of Comprehensive Annual Financial Reports (CAFRs), audits, budgets and mid-period reviews, bond statements, state mandated annual redevelopment reports and any financial forecasts and assessments performed by staff or consuitants) to prepare an assessment of the City's current financial condition and a five-year forecast. Desired results: . A summary of the current approach used by the City in managing its finances; . A review of the current state of City's financial condition relative to trends in revenues and expenditures, use of debt, development and demographic changes, sufficiency of reserves, and Identify opportunities and threats; . A determination of and focus on the most pressing factors on the City's financial condition, to include best case, worst case, and most likely scenarios for the operating budget over a five or ten-year period . A discussion of the financial implications of current and additional support for continued residential and commercial development in newer areas and il) supporting projects such as the baytront and urban core; . A review of capital, infrastructure, and maintenance commitments and spending; . A review of the past and current use and capability of tax increment financing as a means of promoting redevelopment; . An assessment of the financial implications of unfunded retirement liability; and . Recommendations for strengthening Chula Vista's financial condition with respect to long term sustainability. The finished product should provide the City Council, City staff and the incoming City Manager with a baseline assessment of how the City of Chula Vista is positioned financially for the present and near future. A fiscal forecast of five to ten years, forecasting revenues and expenditures and balancing them against the last year (e.g., year 2012) of the forecast should reflect the anticipated facilities and major expenditures during the five- and ten-year periods. Products: . Final report with an executive summary, key findings, conclusions, and 2 13-5 recommendations in MS Word and/or Excel format . Oral presentation of findings and recommendations with accompanying graphics suitable for presentation (e.g.. PowerPoint) to the City Council and to the community in a public meeting. City staff are committed to being immediately available to the reviewer/s and responsive to reviewer/s' requests for information. Documents including the CAFRs. Redevelopment Agency financial statements, quarterly reports, rating agency reports, draft form for infrastructure needs. and bond documents are currently being assembled in a single location for the Review. The consultant's point of contact is City Treasurer Maria Kachadoorian. m kachadoorian lalci.chu la-vista.ca. us. Response to this scope of work shall be received by the City on or before January 16. 2007 at 5:00 PM. Duration of project: 45 - 60 days Estimated cost, including expenses: $30.000 The City reserves the right further to negotiate the proposed work scope and/or method and amount of compensation. 3 13-6 TERMS AND CONDITIONS 1. Upon acceptance oftbe bid, the City will purchase materials and/or services as descnbed herein for prices set forth on the order, and in accordance with all specifications. 2. V cndar shall not assign nor delegate duties or responsibilities under this agreement, in whole or in part, without prior written approval of the City. 3. Vendor shall abide by all Federal, State and Local Laws, Ordinances, Regulations, and Statutes, as may be related to the performance of duties under this agreement. In addition, all applicable pemrits and licenses required shall be obtained by the vendor, at vendor's sole expense. 4. The terms and conditions contained herein constitute the entire agreement between both parties and supersede all previous communications, whether oral or written. The terms and conditions of this agreement shall prevail over any conflicting. additional, or other terms and conditions appearing on any writing or acknowledgment by the vendor. No change to this agreement shall be valid unless made in writing and sigued by both parties. 5. The detailed requirements of the specifications shall supersede any general reference made within this agreement. Specific brand names, manufacturers, and model numbers referenced shall be provided unless prior explicit approval has been obtained from the City. 6. In the event that anyone or more of the provisions of this agreement shall be found to be invalid, illegal, or unenforceable, the remaining provisions shall remain in effect and enforceable. 7. Prompt payment discounts offered of less than fifteen (15) calendar days will not be considered in evaluating bids for award. However, offered discounts of less than fifteen (15) days may be taken if payment is made within the discount period. In the absence of discount terms, invoices shall be net thirty (30) days from the date ofmateriaVservice acceptance or invoice receipt, whichever is later. 8. Unless otherwise specified, acceptance will be at destination and will be made by an authorized employee or representative of the City. Until delivery and acceptance, risk of loss is the vendor's responsibility. 9. Should work be required on City premises, vendor shall provide proof of liability and property damage insurance prior to performance of duties. Coverage shall be from a company authorized to transact business in the State of California and shall be in an amount not less than $1,000,000 combined single limit (CSL). The City of Chula Vista shall be named as an additional insured and thirty (30) days notice of cancellation shall be indicated. Worker's compensation covemge for each employee engaged in work on City premises is required. Vendor is solely responsible for all insurance premium payments. 10. Vendor shall defend, indemnify, protect and bold harmless the City, its elected and appointed officers, employees, and agents, from and against all claims for damages, liability, and expenses (including attorney's fees) arising out of this agreement and/or vendor's performance hereunder, except as to damages, liability, and expenses due to the sole negligence or willful acts of the City, its officers, employees, or agents. 11. Any information deemed confidential or proprietary by the vendor shall be clearly identified. Such information will be protected and treated with confidentiality only to the extent pemritted by law. Otherwise, information provided shall be considered public record. 12. In the event of a dispute, both parties agree to discuss the issue, ascertain the facts, and work together in good faith to arrive at an equitable and mutually acceptable solution. 13. The City may temrinate this agreement and be relieved of any consideration to the vendor should vendor fail to perform in the manner herein described. Furthermore, the City may terminate this agreement for any reason, without penalty, upon giving thirty (30) days written notice to the vendor. In the event of termination, the full extent of City liability shall be limited to payment for materials and/or services authorized by and received to the satisfaction of the City. 14. This agreement shall be governed by and interpreted according to the laws of the State of California, County of San Diego. 4 13-7 Parties and Recital Page(s)1 Agreement between City of Chula Vista and [Name of Consultant]2 for [type of services, i.e., Sewer Consulting Services] This agreement ("Agreement")), dated for the purposes of reference only, and effective as of the date last executed unless another date is otherwise specified in Exhibit A, Paragraph I, is between the City-related entity as is indicated on Exhibit A, Paragraph 2, as such ("City"), whose business form is set forth on Exhibit A, Paragraph 3, and the entity indicated on the attached Exhibit A, Paragraph 4, as Consultant, whose business form is set forth on Exhibit A, Paragraph 5, and whose place of business and telephone numbers are set forth on Exhibit A, Paragraph 6 ("Consultant"), and is made with reference to the following facts: Recitals4 Whereas, ; and, Whereas, ; and, Whereas, Consultant warrants and represents that they are experienced and staffed in a manner such that they are and can prepare and deliver the services required of Consultant to City within the time frames herein provided all in accordance with the terms and conditions of this Agreement; (End of Recitals. Next Page starts Obligatory Provisions.) 1. This page will need to be special for each contract. 2. Brackets are a prompt to imply that a substitution of information is called for. 3. Use this parenthetical technique to define terms or concepts to shorten references to them later in the Agreement. 4. Use the recitals to define terms or concepts to shorten references to them later in the Agreement. If property is involved in the agreement, a typical "whereas" clause may be included: "Whereas, the property which is the subj ect matter ofthis Agreement is commonly lmown as , and is legally described as set forth in the attached Exhibit ("Property"); and," ,- 13-8 Page 1 Obligatory Provisions Pages NOW, THEREFORE, BE IT RESOLVED that the City and Consultant do hereby mutually agree as follows: 1. Consultant's Duties A. General Duties Consultant shall perform all of the services described on the attached Exhibit A, Paragraph 7, entitled "General Duties"; and, B. Scope of Work and Schedule In the process of perfOlming and delivering said "General Duties", Consultant shall also perform all of the services described in Exhibit A, Paragraph 8, entitled "Scope of Work and Schedule", not inconsistent with the General Duties, according to, and within the time frames set forth in Exhibit A, Paragraph 8, and deliver to City such Deliverables as are identified in Exhibit A, Paragraph 8, within the time frames set forth therein, time being of the essence of this agreement. The General Duties and the work 8lld deliverables required in the Scope of Work and Schedule shall be herein referred to as the "Defined Services". Failure to complete the Defmed Services by the times indicated does not, except at the option of the City, operate to terminate this Agreement. C. Reductions in Scope of Work City may independently, or upon request from Consultant, from time to time reduce the Defined Services to be perfonned by the Consultant under tIns Agreement. Upon doing so, City 8lld Consultant agree to meet in good faith and confer for the purpose of negotiating a cOlTesponding reduction in the compensation associated with said reduction. D. Additional Services In addition to performing the Defined Services herein set forth, City may require Consultant to perform additional consulting services related to the Defined Services ("Additional Services"), and upon doing so in writing, if they are within the scope of services offered by Consultant, COnSUlt8llt shall perform same on a time and materials basis at the rates set fortll in the "Rate Schedule" in Exhibit A, Paragraph lO(C), unless a separate fixed fee is otherwise agreed upon. All compensation for Additional Services shall be paid montllly as billed. E. Standard of Care Consultant, in performing any Services under tins agreement, whether Defined Services or Additional Services, shall perform in a manner consistent witll that level of care and skill ordinarily exercised by members of tile profession currently practicing under similar conditions 8lld in similar locations. 13-9 Page 2 F. Insurance Consultant must procure insurance against claims for injuries to persons or damages to property that may arise from or in connection with the performance of the work under the contract and the results of that work by the Consultant, his agents, representatives, employees or subcontractors and provide documentation of same prior to commencement of work. The insurance must be maintained for the duration of the contract. Minimum Scope of Insurance Coverage must be at least as broad as: (I) Insurance Services Office Commercial General Liability coverage (occurrence Form CGOOOl). (2) Insurance Services Office Form Number CA 0001 covering Automobile Liability, Code I (any auto). (3) Workers' Compensation insurance as required by the State ofCalifomia and Employer's Liability Insurance. (4) Professional Liability or ElTors & Omissions Liability insurance appropriate to the Consultant's profession. Architects' and Engineers' coverage is to be endorsed to include contractual liability. Minimum Limits of Insurance Contractor must maintain limits no less than: I. General Liability: (Including operations, products and completed operations, as applicable) 2. Automobile Liability: 3. Workers' Compensation Employer's Liability: 4. Professional Liability or Errors & Omissions Liability: $1,000,000 per occurrence for bodily injury, personal injury and property damage. If Commercial General Liability insurance with a general aggregate limit is used, either the general aggregate limit must apply separately to this project/location or the general aggregate limit must be twice the required occurrence limit. $1,000,000 per accident for bodily injury and property damage. Statutory $1,000,000 each accident $1,000,000 disease-policy limit $1,000,000 disease-each employee $1,000,000 each occurrence Deductibles and Self-Insured Retentions 13-10 Page 3 Any deductibles or self-insured retentions must be declared to and approved by the City. At the option ofthe City, either the insurer will reduce or eliminate such deductibles or self-insured retentions as they pertain to the City, its officers, officials, employees and volunteers; or the Consultant will provide a financial guarantee satisfactory to the City guaranteeing payment of losses and related investigations, claim administration, and defense expenses. Other Insurance Provisions The general liability, automobile liability, and where appropriate, the worker's compensation policies are to contain, or be endorsed to contain, the following provisions: (I) The City of Chula Vista, its officers, officials, employees, agents, and volunteers are to be named as additional insureds with respect to liability arising out of automobiles owned, leased, hired or borrowed by or on behalf ofthe Consultant, where applicable, and, with respect to liability arising out of work or operations performed by or on behalf of the Consultant, including providing materials, parts or equipment furnished in comlection with such work or operations. The general liability additional insured coverage must be provided in the fornl of an endorsement to the contractor's insurance using ISO CG 2010 (11/85) or its equivalent. Specifically, the endorsement must not exclude Products/Completed Operations coverage. (2) The Consultant's General Liability insurance coverage must be primary insurance as it pertains to the City, its officers, officials, employees, 'agents, and volunteers. Any insurance or self-insurance maintained by the City, its officers, officials, employees, or volunteers is wholly separate from the insurance of the contractor and in no way relieves the contractor from its responsibility to provide insurance. (3) The insurance policy required by tlus clause must be endorsed to state that coverage will not be canceled by either party, except after thirty (30) days' prior written notice to the City by certified mail, return receipt requested. (4) Coverage shall not extend to any indemnity coverage for the active negligence of the additional insured in any case where an agreement to indemnify the additional insured would be invalid under Subdivision (b) of Section 2782 of the Civil Code. (5) Consultant's insurer will provide a Waiver of Subrogation in favor of the City for each required policy providing coverage during the life of this contract. If General Liability, Pollution and/or Asbestos Pollution Liability and/or Errors & Omissions coverage are written on a claims-made form: (1) The "Retro Date" must be shown, and must be before the date of the contract or the begim1ing of the contract work. (2) Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after completion of the contract work. 13-11 Page 4 (3) If coverage is canceled or non-renewed, and not replaced with another claims-made policy form with a "Retro Date" prior to the contract effective date, the Consultant must purchase "extended reporting" coverage for a minimum of five (5) years after completion of contract work. (4) A copy of the claims repOliing requirements must be submitted to the City for review. Acceptability of Insurers Insurance is to be placed with licensed insurers admitted to transact business in the State of Califomia with a current A.M. Best's rating of no less than A V. If insurance is placed with a surplus lines insurer, insurer must be listed on the State ofCalifomia List of Eligible Surplus Lines Insurers ("LESLI") with a current A.M. Best's rating of no less than A X. Exception may be made for the State Compensation Fund when not specifically rated. V erification of Coverage Consultant shall fumish the City with Oliginal certificates and amendatory endorsements effecting coverage required by this clause. The endorsements should be on insurance industry forms, provided those endorsements or policies confonn to the contract requirements. All certificates and endorsements are to be received and approved by the City before work conunences. The City reserves the right to require, at any time, complete, certified copies of all required insurance policies, including endorsements evidencing the coverage required by these specifications. Subcontractors Consultants must include all sub consultants as insureds under its policies or fumish separate certificates and endorsements for each subconsultant. All coverage for subconsultants are subject to all of the requirements included in these specifications. G. Security for Performance (1) Performance Bond In the event that Exhibit A, at Paragraph 18, indicates the need for Consultant to provide a Perfonnance Bond (indicated by a check mark in the parenthetical space immediately preceding the subparagraph entitled "Performance Bond"), then Consultant shall provide to the City a perfoID1ance bond in the fonn presclibed by the City and by such sureties which are authorized to transact such business in the State of Califomia, listed as approved by the United States Department of Treasury Circular 570, http://,,,^,vw.fms.treas.gov/c570, and whose underwriting limitation is sufficient to issue bonds in fue amount required by the agreement, and which also satisfy the requirements stated in Section 995.660 of the Code of Civil Procedure, except as provided otl1erwise by laws or regulations. All bonds signed by an agent must be accompanied by a certified copy of such agent's authority to act. Surety companies must be duly licensed or authorized in the jurisdiction in which the Project is located to issue bonds for the 13-12 Page 5 limits so required. Foml must be satisfactory to the Risk Manager or City Attorney which amount is indicated in the space adjacent to the term, "Performance Bond", in said Exhibit A, Paragraph 18. (2) Letter of Credit In the event that Exhibit A, at Paragraph 18, indicates the need for Consultant to provide a Letter of Credit (indicated by a check mark in the parenthetical space immediately preceding the subparagraph entitled "Letter of Credit"), then Consultant shall provide to the City an irrevocable letter of credit callable by the City at their unfettered discretion by submitting to the bank a letter, signed by the City Manager, stating that the Consultant is in breach of the terms of this Agreement. The letter of credit shall be issued by a bank, and be in a form and amount satisfactory to the Risk Manager or City Attorney which amount is indicated in the space adjacent to the term, "Letter of Credit", in said Exhibit A, Paragraph 18. (3) Other Security In the event that Exhibit A, at Paragraph 18, indicates the need for Consultant to provide security other than a Performance Bond or a Letter of Credit (indicated by a check mark in the parenthetical space immediately preceding the subparagraph entitled "Other Security"), then Consultant shall provide to the City such other security therein listed in a form and amount satisfactory to the Risk Manager or City Attorney. H. Business License Consultant agrees to obtain a business license from the City and to otherwise comply with Title 5 of the Chula Vista Municipal Code. 2. Duties of the City A. Consultation and Cooperation City shall regularly consult the Consultant for the purpose of reviewing the progress of the Defined Services and Schedule therein contained, and to provide direction and guidance to achieve the obj ectives of this agreement. The City shall permit access to its office facilities, files and records by Consultant throughout the teml of the agreement. In addition thereto, City agrees to provide the infOlmation, data, items and materials set forth on Exhibit A, Paragraph 9, and with the further understanding that delay in the provision ofthese materials beyond thirty (30) days after authorization to proceed, shall constitute a basis for the justifiable delay in the Consultant's performance of this agreement. B. Compensation Upon receipt of a properly prepared billing from Consultant submitted to the City periodically as indicated in Exhibit A, Paragraph 17, but in no event more frequently than monthly, on the day of the period indicated in Exhibit A, Paragraph 17, City shall compensate Consultant for all services rendered by Consultant according to the terms and conditions set forth 13-13 Page 6 in Exhibit A, Paragraph 10, adjacent to the governing compensation relationship indicated by a "checkmark" next to the appropriate arrangement, subject to the requirements for retention set forth in Paragraph 18 of Exhibit A, and shall compensate Consultant for out of pocket expenses as provided in Exhibit A, Paragraph 11. All billings submitted by Consultant shall contain sufficient infonnation as to the propriety of the billing to permit the City to evaluate that the amount due and payable thereunder is proper, and shall specifically contain the City's account number indicated on Exhibit A, Paragraph 17(C) to be charged upon malong such payment. 3. Administration of Contract Each party designates the individuals ("Contract Administrators") indicated on Exhibit A, Paragraph 12, as said party's contract administrator who is authorized by said party to represent them in the routine administration of this agreement. 4. Term This Agreement shall terminate when the Parties have complied with all executory provisions hereof. 5. Liquidated Damages The provisions of this section apply if a Liquidated Damages Rate is provided in Exhibit A, Paragraph 13. It is acknowledged by both parties that time is of the essence in the completion of this Agreement. It is difficult to estimate the amount of damages resulting from delay in perfomlance. The parties have used their judgment to arrive at a reasonable amount to compensate for delay. Failure to complete the Defined Services within the allotted time period specified in tins Agreement shall result in the following penalty: For each consecutive calendar day in excess of the time specified for the completion of tile respective work assignment or Deliverable, the Consultant shall pay to the City, or have withlleld from monies due, the sum of Liquidated Damages Rate provided in Exlnbit A, Paragraph 13 ("Liquidated Damages Rate"). Time extensions for delays beyond the Consultant's control, other tllan delays caused by the City, shall be requested in writing to the City's Contract Administrator, or designee, prior to the expiration of the specified time. Extensions of time, when granted, will be based upon tile effect of delays to the work and will not be granted for delays to minor portions of work unless it can be shown that such delays did or will delay the progress of the work. 6. Financial Interests of Consultant A. Consultant is Designated as an FPPC Filer 13-14 Page 7 If Consultant is designated on Exhibit A, Paragraph 14, as an "FPPC filer", Consultant is deemed to be a "Consultant" for the purposes of the Political Reform Act conflict of interest and disclosure provisions, and shall report economic interests to the City Clerk on the required Statement of Economic Interests in such reporting categories as are specified in Paragraph 14 of Exhibit A, or if none are specified, then as determined by the City Attorney. B. Decline to Participate Regardless of whether Consultant is designated as an FPPC Filer, Consultant shall not make, or participate in making or in any way attempt to use Consultant's position to influence a govemmental decision in which Consultant knows or has reason to know Consultant has a financial interest other than the compensation promised by this Agreement. C. Search to Determine Economic Interests Regardless of whether Consultant is designated as an FPPC Filer, Consultant warrants and represents that Consultant has diligently conducted a search and inventory of Consultant's economic interests, as the term is used in the regulations promulgated by the Fair Political Practices Commission, and has detemlined that Consultant does not, to the best of Consultant's knowledge, have an economic interest which would conflict witll Consultant's duties under this agreement. D. Promise Not to Acquire Conflicting Interests Regardless of whether Consultant is designated as an FPPC Filer, Consultant further warrants and represents that Consultant will not acquire, obtain, or assume an economic interest during the term ofthis Agreement which would constitute a conflict of interest as prohibited by the Fair Political Practices Act. E. Duty to Advise of Conflicting Interests Regardless of whether Consultant is designated as an FPPC Filer, Consultant further warrants and represents that Consultant will immediately advise the City Attorney of City if Consultant leams of an economic interest of Consultant's that may result in a conflict of interest for the purpose of the Fair Political Practices Act, and regulations promulgated thereunder. F. Specific Warranties Against Economic Interests Consultant warrants and represents that neither Consultant, nor Consultant's immediate family members, nor Consultant's employees or agents ("Consultant Associates") presently have any interest, directly or indirectly, whatsoever in any property which may be tlle subject matter of the Defined Services, or in any property within 2 radial miles from the exterior boundaries of any property which may be the subject matter of the Defmed Services, ("Prohibited Interest"), other than as listed in Exhibit A, Paragraph 14. Consultant further warrants and represents that no promise of future employment, remuneration, consideration, gratuity or other reward or gain has been made to Consultant or 13-15 Page 8 Cc}UsultantAssociates in cOlmection with Consultant's performance of this Agreement. Consultant promises to advise City of any such promise that may be made during the Teml of this Agreement, or for twelve months thereafter. Consultant agrees that Consultant Associates shall not acquire any such Prohibited Interest within the Term of this Agreement, or for twelve months after the expiration of this Agreement, except with the written permission of City. Consultant may not conduct or solicit any business for any party to this Agreement, or for any third party that may be in conflict with Consultant's responsibilities under this Agreement, except with the written pelmission of City. 7. Hold Hannless Consultant shall defend, indemnify, protect and hold harmless the City, its elected and appointed officers and employees, from and against all claims for damages, liability, cost and expense (including without limitation attorneys fees) arising out of or alleged by third parties to be the result of the negligent acts, errors or omissions or the willful misconduct of the Consultant, and Consultant's employees, subcontractors or other persons, agencies or finns for whom Consultant is legally responsible in cOlmection with the execution of the work covered by this Agreement, except only for those claims, damages, liability, costs and expenses (including without limitations, attorneys fees) arising from the sole negligence or sole willful misconduct of the City, its officers, employees. Also covered is liability arising from, connected with, caused by or claimed to be caused by the active or passive negligent acts or omissions of the City, its agents, officers, or employees which may be in combination with the active or passive negligent acts or omissions of the Consultant, its employees, agents or officers, or any third party. With respect to losses arising from Consultant's professional errors or omissions, Consultant shall defend, indemnify, protect and hold hannless the City, its elected and appointed officers and employees, from and against all claims for damages, liability, cost and expense (including without linlitation attomeys fees) except for those claims arising from the negligence or willful misconduct of City, its officers or employees. Consultant's indemnification shall include any and all costs, expenses, attorneys fees and liability incurred by the City, its officers, agents or employees in defending against such claims, whether the same proceed to judgment or not. Consultant's obligations under this Section shall not be limited by any prior or subsequent declaration by the Consultant. Consultant's obligations under this Section shall survive the termination of this Agreement. For those professionals who are required to be licensed by the state (e.g. architects and engineers), the following indemnification provisions should be utilized: (1) Indemnification and Hold Harmless Agreement With respect to any liability, including but not limited to claims asserted or costs, losses, attomey fees, or payments for injury to any person or property caused or claimed to be caused by the acts or omissions of the Consultant, or Consultant's employees, agents, and officers, aJising 13-16 Page 9 out of any services perfomled involving tillS project, except liability for Professional Services covered under Section x'Z, the Consultant agrees to defend, indemnify, protect, and hold harmless the City, its agents, officers, or employees from and against all liability. Also covered is liability alising from, cormected with, caused by, or claimed to be caused by the active or passive negligent acts or omissions of the City, its agents, officers, or employees which may be in combination wim the active or passive negligent acts or onllssions ofthe Consultant, its employees, agents or officers, or any tlllrd party. The Consultant's duty to indemnify, protect and hold hmnless shall not include any claims or liabilities arising from the sole negligence or sole willful misconduct of me City, its agents, officers or employees. This section in no way alters, affects or modifies tile Consultant's obligation and duties under Section Exhibit A to tillS Agreement. (Z) Indemnification for Professional Services. As to me Consultant's professional obligation, work or services involving this Project, the Consultant agrees to indemnify, defend alld hold harmless the City, its agents, officers and employees from and against any and all liability, claims, costs, and dalTIages, including but not limited to, attomeys fees, losses or payments for injury to my person or property, caused directiy or indirectly from tile negligent acts, errors or onllssions of tile Consultal1t or Consultmt's employees, agents or officers; provided, however, that the Consultmt's duty to indemnify shall not include any claims or liability msing from tile negligence or willful nllsconduct of me City, its agents, officers and employees. 8. Termination of Agreement for Cause If, through allY cause, Consultant shall fail to fulfill in a timely alld proper mmer Consultallt's obligations under this Agreement, or if Consultant shall violate any of tile COVenallts, agreements or stipulations of this Agreement, City shall have me right to terminate tills Agreement by giving written notice to Consultant of such tem1ination and specifying tile effective date thereof at least five (5) days before the effective date of such tem1ination. In tilat event, all finished or unfinished documents, data, studies, surveys, drawings, maps, reports and other materials prepal"ed by Consultant shall, at tile option of the City, become the property of tile City, and Consultant shall be entitled to receive just and equitable compensation for any work satisfactorily completed on such documents and omer materials up to the effective date of Notice ofTemlination, not to exceed the alTIounts payable hereunder, alld less my dalTIages caused City by Consultmt's breach. 9. En-ors and Omissions In the event tilat me City Administrator detennines mat tlle Consultmts' negligence, elTors, or omissions in the perfonnance of work under tillS Agreement has resulted in expense to City greater thm would have resulted if there were no such negligence, elTors, onllssions, Consultant shall reimburse City for my additional expenses incmred by the City. Nothing herein is intended to limit City's rights under other provisions of this agreement. 10. Temllnation of Agreement for Convenience of City 13-17 Page 10 City may terminate this Agreement at any time and for any reason, by giving specific written notice to Consultant of such termination and specifying the effective date thereof, at least thirty (30) days before the effective date of such temlination. In that event, all finished and unfinished documents and other materials described hereinabove shall, at the option of the City, become City's sole and exclusive property. lithe Agreement is terminated by City as provided in this paragraph, Consultant shall be entitled to receive just and equitable compensation for any satisfactory work completed on such documents and otller materials to the effective date of such tennination. Consultant hereby expressly waives any and all claims for damages or compensation arising under tlus Agreement except as set forth herein. 11. Assignability The services of Consultant are personal to the City, and Consultant shall not assign any interest in this Agreement, and shall not transfer any interest in the same (whether by assignment or novation), without prior written consent of City. City hereby consents to tile assigmnent of the portions of tile Defined Services identified in Exhibit A, Paragraph 16 to the subconsultants identified thereat as "Permitted Subconsultants". 12. Ownerslup, Publication, Reproduction and Use of Material All reports, studies, information, data, statistics, forms, designs, plans, procedures, systems and any other materials or properties produced under tlus Agreement shall be the sole and exclusive property of City. No such materials or properties produced in whole or in part under tlus Agreement shall be subject to private use, copyrights or patent rights by Consultant in the Uluted States or in any other country without tile express written consent of City. City shall have unrestricted authority to publish, disclose (except as may be limited by the provisions of the Public Records Act), distribute, and otherwise use, copyright or patent, in whole or in part, any such repOlis, studies, data, statistics, forms or other materials or properties produced under this Agreement. 13. Independent Contractor City is interested only in the results obtained and Consultant shall perform as an independent contractor with sole control of tile mamler and means of performing the services required under this Agreement. City maintains tile right only to reject or accept Consultant's work products. Consultant and any ofthe Consultant's agents, employees or representatives are, for all purposes under tlus Agreement, an independent contractor and shall not be deemed to be an employee of City, and none of tllem shall be entitled to any benefits to which City employees are entitled including but not limited to, overtime, retirement benefits, worker's compensation benefits, injury leave or other leave benefits. Therefore, City will not withhold state or federal income tax, social security tax or any other payroll tax, and Consultant shall be solely responsible for the payment of same and shall hold the City harmless Witll regard thereto. 14. Adnlinistrative Claims Requirements and Procedures 13-18 Page 11 No suit or arbitration shall be brought arising out of this agreement, against the City unless a claim has first been presented in writing and filed with the City and acted upon by the City in accordance with the procedures set forth in Chapter 1.34 of the Chuhl. Vista Municipal Code, as same may from time to time be amended, the provisions of which are incorporated by tIns reference as if fully set forth herein, and such policies and procedures used by the City in the implementation of same. Upon request by City, Consultant shall meet and confer in good faith with City for the purpose of resolving any dispute over tIle terms of this Agreement. 15. Attorney's Fees Should a dispute arising out of tIns Agreement result in litigation, it is agreed that tIle prevailing party shall be entitled to a judgment against fue other for an amount equal to reasonable attomey's fees and court costs incurred. The "prevailing party" shall be deemed to be the party who is awarded substantially tIle relief sought. 16. Statement of Costs In tIle event that Consultant prepares a report or document, or participates in tIle preparation of a report or document in performing tIle Defmed Services, Consultant shall include, or cause the inclusion of, in said report or document, a statement of the numbers and cost in dollar amounts of all contracts and subcontracts relating to the preparation of the report or document. 17. Miscellaneous A. Consultant not authorized to Represent City Unless specifically authorized in writing by City, Consultant shall have no authority to act as City's agent to bind City to any contractual agreements whatsoever. B. Consultant is Real Estate Broker and/or Salesman If the box on Exhibit A, Paragraph 15 is marked, fue Consultant and/or their principals is/are licensed with tIle State of California or some other state as a licensed real estate broker or salesperson. Otherwise, Consultant represents that neither Consultant, nor their principals are licensed real estate brokers or salespersons. C. Notices All notices, demands or requests provided for or permitted to be given pursuant to tllis Agreement must be in writing. All notices, demands and requests to be sent to any party shall be deemed to have been properly given or served if personally served or deposited in the United States mail, addressed to such party, postage prepaid, registered or certified, witIl return receipt requested, at the addresses identified herein as the places of business for each of the designated parties. 13-19 Page 12 D. Entire Agreement This Agreement, together with any other written document referred to or contemplated herein, embody the entire Agreement and understanding between the parties relating to the subject matter hereof. Neither this Agreement nor any provision hereof may be amended, modified, waived or discharged except by an instrument in writing executed by the party against which enforcement of such amendment, waiver or discharge is sought. E. Capacity of Parties Each signatory and party hereto hereby warrants and represents to the other party that it has legal authority and capacity and direction from its principal to enter into this Agreement, and that all resolutions or other actions have been taken so as to enable it to enter into this Agreement. F. Governing Law/Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of California. Any action arising under or relating to this Agreement shall be brought only in the federal or state courts located in San Diego County, State of Califomia, and if applicable, the City of Chula Vista, or as close thereto as possible. Venue for this Agreement, and performance hereunder, shall be the City of Chula Vista. (End of page. Next page is signature page.) 13-20 Page 13 Signature Page to Agreement between City of Chula Vista and [N ame of Consultant] for IN WITNESS WHEREOF, City and Consultant have executed this Agreement thereby indicating that they have read and understood same, and indicate their full and complete consent to its terms: Dated: City of Chula Vista By: Stephen Padilla, Mayor Attest: Susan Bigelow, City Clerk Approved as to fmm: Ann Moore, City Attorney Dated: [Name of Consultant] By: [Name of Person, Title] By: [Name of Person, Title] Exhibit List to Agreement ( ) Exhibit A. 13-21 Page 14 Exhibit A to Agreement between City of Chula Vista and [Nan1e of Consultant] 1. Effective Date of Agreement: 2. City-Related Entity: ) City ofChula Vista, a municipal chartered corporation of the State of California ) Redevelopment Agency of the City of Chula Vista, a political subdivision of the State of California ( ) Industrial Development Authority of the City ofChula Vista, a ( ) Other: , a [insert business form] ("City") 3. Place of Business for City: City of Chula Vista 276 FOUlih Avenue Chula Vista, CA 91910 4. Consultant: 5. Business F orn1 of Consultant: ( ) Sole ProPlietorship ( ) Partnership ( ) Corporation 6. Place of Business, Telephone and Fax Number of Consultant: [Address] [City], California 9 Voice Phone: (619) Fax Phone: (619) 13-22 Page 15 7. General Duties) 8. Scope of Work and Schedule: A. Detailed Scope ofWork:2 B. Date for Commencement of Consultant Services: ( ) Same as Effective Date of Agreement ( ) Other: C. Dates or Time Limits for Delivery of Deliver abIes: Deliverable No.1: Deliverable No.2: Deliverable No.3: D. Date for completion of all Consultant services: 1. In a clear and straight forward fashion, describe what you want the Consultant to do on what project, or on what aspect of what project. E.g.: Consultant shall design a bridge across the Otay River at the point where Otay Valley Road crosses said river, which design shall be to the specifications herein below provided or to standards set by the Public Works Director, and Consultant shall provide construction administration services if and when the bridge is eventually let for construction according to said design. 2. Do not include simply a letter or proposal from the consultant at this point because it will probably contain gratuitous comments or references to duties that will contradict the obligatory provisions of the standard agreement. List the detailed method by which you want the Consultant to accomplish the general duties. 13-23 Page 16 9. Materials Required to be Supplied by City to Consultant: 10. Compensation: A. ( ) Single Fixed Fee Arrangement.] For performance of all of the Defined Services by Consultant as herein required, City shall pay a single fixed fee in the amounts and at the times or milestones or for the Deliverables set forth below: Single Fixed Fee Amount: , payable as follows: Milestone or Event or Deliverable Amount or Percent of Fixed Fee ) 1. Interim Monthly Advances. The City shall make interim monthly advances against the compensation due for each phase on a percentage of completion basis for each given phase such that, at the end of each phase only the compensation for that phase has been paid. Any payments made hereunder shall be considered as interest free loans that must be returned to the City if the Phase is not satisfactorily completed. If the Phase is satisfactorily completed, the City shall receive credit against the compensation due for that phase. The retention amount or percentage set forth in Paragraph 19 is to be applied to each interim payment such that, at the end of the phase, the full retention has been held back from the compensation due for that phase. Percentage of completion of a phase shall be assessed in the sole and unfettered discretion by the Contracts Administrator designated herein by the City, or such other person as the City Manager shall designate, but only upon such proof demanded by the City that has been provided, but in no event shall such interim advance payment be made unless the Contractor shall have represented in writing that said percentage of completion of the phase has been performed by the Contractor. The practice of making interim monthly advances shall not convert this agreement to a time and materials basis of payment. B. ( ) Phased Fixed Fee An'angement. For the performance of each phase or portion of the Defrned Services by Consultant as are separately identified below, City shall pay the fixed fee associated with each phase of Services, 3. The difference between a single fixed fee amount with phased payments and a phased fixed fee amount is that, in a single fixed fee amount all of the work is required for all of the compensation. Payments are phased to help with consultant cash flow. In a phased fixed fee alTangement, the City has the authority to cancel or require perfonnance under subsequent phases, so that the compensation is due just for the phase of work required, and not for the total amount. 13-24 Page 17 in the amounts and at the times or milestones or Deliverables set forth. Consultant shall not commence Services under any Phase, and shall not be entitled to the compensation for a Phase, unless City shall have issued a notice to proceed to Consultant as to said Phase. Phase 1. Fee for Said Phase 2. $ $ $ " .J. ( ) 1. Interim Monthly Advances. The City shall make interim monthly advances against the compensation due for each phase on a percentage of completion basis for each given phase such that, at the end of each phase only the compensation for that phase has been paid. Any payments made hereunder shall be considered as interest free loans that must be returned to the City if the Phase is not satisfactorily completed. If the Phase is satisfactorily completed, the City shall receive credit against the compensation due for that phase. The retention amount or percentage set forth in Paragraph 19 is to be applied to each interim payment such that; at the end of the phase, the full retention has been held back from the compensation due for that phase. Percentage of completion of a phase shall be assessed in the sole and unfettered discretion by the Contracts Administrator designated herein by the City, or such other person as the City Manager shall designate, but only upon such proof demanded by the City that has been provided, but in no event shall such interim advance payment be made unless the Contractor shall have represented in writing that said percentage of completion of the phase has been performed by the Contractor. The practice of maldng interim monthly advances shall not convert this agreement to a time and materials basis of payment. C. ( ) Hourly Rate Arrangement For performance ofthe Defined Services by Consultant as herein required, City shall pay Consultant for the productive hours of time spent by Consultant in the performance of said Services, at the rates or amounts set forth in the Rate Schedule hereinbelow according to the following terms and conditions: (1) ( ) Not-to-Exceed Limitation on Time and Materials Arrangement Notwithstanding the expenditure by Consultant of time and materials in excess of said Maximum Compensation amount, Consultant agrees that Consultant will perform all of the Defined Services herein required of Consultant for $ including all Materials, and other "reimbursables" ("Maximum Compensation"). (2) ( ) Limitation without Further Authorization on Time and Materials Arrangement 13-25 Page 18 At such time as Consultant shall have incurred time and materials equal to ("Authorization Limit"), Consultant shall not be entitled to any additional compensation without further authorization issued in writing and approved by the City. Nothing herein shall preclude Consultant from providing additional Services at Consultant's own cost and expense. Category of Employee Rate Schedule4 Name of Consultant Hourly Rate $ $ $ $ $ ) Hourly rates may increase by 6% for services rendered after [month], 20_, if delay in providing services is caused by City. II. Materials Reimbursement Arrangement For the cost of out of pocket expenses incurred by Consultant in the perfonnance of services herein required, City shall pay Consultant at the rates or anlounts set forth below: ( ) None, the compensation includes all costs. Cost or Rate $ $ $ $ $ $ $ $ $ $ () Reports, not to exceed $ () Copies, not to exceed $ () Travel, not to exceed $ () Printing, not to exceed $ () Postage, not to exceed $ () Delivery, not to exceed $ () Long Distance Telephone Charges, not to exceed $ () Other Actual Identifiable Direct Costs: , not to exceed $ , not to exceed $ 4. Tins section should be completed in all cases--ifthe main compensation scheme is a "time and materials arrangement" or for the purposes of requiring Additional Services. 13-26 Page 19 12. Contract Administrators: C. 5 lty: Consultant: 6 13. Liquidated Damages Rate: ( ) $ ( ) Other: per day. 14. Statement of Economic Interests, Consultant Reporting Categories, per Conflict of Interest Code: ( ) Not Applicable. Not an FPPC Filer.7 ( ) FPPC Filer ( ) Category No.1. Investments and sources of income. ( ) Category No.2. Interests in real property. ( ) Category No.3. Investments, interest in real property and sources of income subject to the regulatory, permit or licensing authority of the department. ( ) Category No.4. Investments in business entities and sources of income that engage in land development, construction or the acquisition or sale of real property. ( ) Category No.5. Investments in business entities and sources of income of the type which, within the past two years, have contracted with the City ofChula Vista 5. Sample Completion: Marilyn Poseggi, EnvirolIDlental Review Coordinator, Public Services Building, 276 Fourth Avenue, Chula Vista, CA 91910, (619) 691-5104. 6. Sanle as address etc. on Exh. A, p.l, plus name of lead contact. 7. If Consultant, in the performance of its services under this agreement: (1) conducts research and arrives at conclusions with respect to its rendition of information, advice, recommendations or counsel independent of the control and direction of the City or of any City official, other than normal contract monitoring; and (2) possesses no authority with respect to any City decision beyond the rendition of information, advice, recommendations or counsel, Consultant should not be designated as an FPPC Filer. 13-27 Page 20 (Redevelopment Agency) to provide services, supplies, materials, machinery or equipment. ( ) Category No.6. Investments in business entities and sources of income ofthe type which, within the past two years, have contracted with the designated employee's department to provide services, supplies, materials, machinery or equipment. ( ) Category No.7. Business positions. ) List "Consultant Associates" interests in real property within 2 radial miles of Project Property, if any: 15. ( ) Consultant is Real Estate Broker and/or Salesman 16. Permitted Subconsultants: 17. Bill Processing: A. Consultant's Billing to be submitted for the following period of time: ( ) Monthly ( ) Quarterly ( ) Other: B. Day of the Period for submission of Consultant's Billing: ( ) First of the Month ( ) 15th Day of each Month ( ) End of the Month ( ) Other: C. City's Account Number: 13-28 Page 21 ; 18. Security for Perfonnance ( ) Perfonnance Bond, $ ( ) Letter of Credit, $ ( ) Other Security: Type: Amount: $ ) Retention. If this space is checked, then notwithstanding other provisions to the contrary requiring the payment of compensation to the Consultant sooner, the City shall be entitled to retain, at their option, either tile following "Retention Percentage" or "Retention Amount" until the City detelmines that the Retention Release Event, listed below, has occurred: ( ) Retention Percentage: ( ) Retention Amount: $ % Retention Release Event: ( ) Completion of All Consult31lt Services ( ) Other: .I:\Attomey\CINDYMc\2PTY14 Consultant Ins Rev 9 2\ 06 (FINAL).doc 13-29 Page 22 Atto.vh[))en+- "B January 16, 2007 Economic & Planning Systems &al Estate E:tmomia: Regional E:OIWm.ia PublicF'm.an.ce Land UuPolic)' Jim Thompson. Interim City Manager 276 Fourth Avenue Chula Vista, California 91910 Subject: Transmittal of Proposal, Chula Vista Financial Review; EPS #17006 Dear Mr. Thompson: 1 am pleased to have the opportunity, on behalf of Economic & Planning Systems, Inc. (BPS,) to prepare the attached proposal for conducting a financial review for the City of Chula Vista. As you are aware, EPS has been serving the City in a number of capacities in recent years including work on the Growth Management Program, the Urban Core Specific Plan financing, and the Bayfront negotiations. This body of experience provides us with an understanding of circumstances in Chula Vista as well as good working relationships with key staff that will need to be involved. . We understand that the financial review is intended to be a "high-level" effort focusing on the strategic issues involved with Chula Vista's fiscal affairs and financing in the corning years. However, the scope of the financial review, even at a high level, is daunting. Many complex issues are involved, such as anticipating uncertain future events, detailed and complex financing histories, actuarial analysis, and complex relationships between land use and municipal costs and revenues. A disciplined effort will be required to stay on task and avoid unnecessary" drilling" into details, while at the same time providing meaningful analysis. We estimate that the budget for this effort will be $40,340, above the limit set forth in the Request for Proposals, but necessary in our view to produce a responsive analysis. This is an exciting time in Chula Vista and we are pleased to have the opportunity to help the City set a course for its future fiscal and financial well-being. We have tried our best to articulate an appropriate approach to the financial review and will be happy to discuss the matter further with you and your staff. Sincerely, ECONOMIC & PLANNING SYSTEMS, lNc. (N~~V' Walter F. Kieser Managing Principal BERKELEY 2501 Ninth St., Suite 200 Phone: 510.841-9190 :tlerkc:ley, CA 94710-2515 Fax: 510.841-9208 www.epsys.com V' SACRAMENTO Phone: 9Hi-649-8010 Fax: 916-649-2070 DENVER Phone: 303-623-3557 Fax: 303-623-9049 . 13-30 Draft Work Pragram Chula Vista Financial Review January 16, 2007 PROJECT UNDERSTANDING The City of Chula Vista finds itself at a threshold. For the past two decades, the City has enjoyed rapid urban development on its eastside, creating new, highly desirable neighborhoods and adding to the vitality of the City as a whole. However, the horizon for completion of eastside development is in view. At the same time regional market conditions have shifted, creating demand for higher density urban development located wit,hin the existing older portions of the City including the downtown core and bayfront areas. Over time, as the absolute amount of "greenfield" development diminishes, the City's emphasis will shift from "building" to "sustaining" and "restoring" the City's urban fabric. Anticipating these changes, the Request for Proposals (RFP) identifies seven topics to be addressed: . Description of the City's current approach to managing its finances . Review of the City's current financial condition . Identification of "the most pressing (financing) factors" facing the City . Evaluation of the fiscal performance and financial implications of new development . Review of capital expenditures and financing . . Review of the use of tax increment financing . Assessment of the City's "unfunded retirement liability" These seven financing topics are each weighty in their own regard; each could be a separate project, requiring special expertise and a budget higher than what is currently proposed for the overall study. Moreover, City staff, supported by consulting expertise, has continuously undertaken considerable effort over the years to address each of these topics in one form or another. For example, the Finance Department maintains a sophisticated fiscal forecasting capability, which is used, as it is understood, to inform annual Budget decisions. The City's Growth Management Program provides detailed analysis of the City's groWtl1 trends and potential. The Development Impact Fee program tracks millions of dollars of capital investment and related allocation of impact fee revenue and related sources of funds. Accordingly, it is expected that considerable involvement of City staff will be necessary to assure that prior and ongoing financial analysis, data, and controls are properly recognized. The financial review will begin with an evaluation of the nature of the aforementioned "shift" of emphasis in the City's development patterns. It will be followed with an assessment of current financial conditions, liabilities, practices, and capacities in view of expected changes in the pattern, quality, and quantity of development, along with baseline trends regarding municipal government costs and revenues including ever-increasing defined benefit retirement program liabilities and expected trends at the State level affecting local government financing. . Finally, the financial review will provide five- and ten-year fiscal forecasts and a. related set of conclusions and actions for all seven financing topics, which will be presented to the City Council following a round of technical review. Given constraints of budget and time, additional, more specific analysis may be required for some topics to resolve critical questions tl1at arise br to map a sound way forward. 1 M: \PropilSlll5 \ 17000s \17006chlllA_rist~ \ 17006ptext.dac 13-31 J),-aft Work Program Chula Vista Financial Review January 16,2007 TECHNICAL APPROACH Given the broad scope and complexity of issues involved in the financial review, care will need to be taken to avoid" data traps" or excessive analysis, at least in the first stage of the effort. Accordingly, the assignment will be conducted as a high-level analysis involving review of relevant information, policy, and data that can be provided by the City staff, construction of a straightforward analytical framework for budget forecasting, and formulation of conclusions and actions_ These actions may address issues identified under each financing topic or, as has been mentioned, call for additional analysis to clarify or quantify an issue. . Review of existing data and analysis. The Consultant has completed several assignments in Chula Vista in recent years and gained general familiarity with the City and its budgeting and financial practices, at least in general. Existing documentation, including current and prior budgets, Comprehensive Annual Financial Reports (CAFRs), audits, bond official statements, and other formal reporting provide a wealth of information regarding the Oty's financial position. These existing documents provided by the Oty will form the basis of the fiscal and financial analysis . Collaboration with Ci1;y staff. While the analysis will be independent, close collaboration with City staff will be necessary to assure completeness and clarity regarding fiscal and financial documentation. Collaboration will occur through a series of project meetings with senior staff members and one-on-one interviews where more in-depth information is required. . . Focus upon key "change indicators". The broad scope of the assignment requires a "high- level" approach to quickly identify the major" change indicators", those factors likely to influence the City's fiscal and financial position in the future. The analysis will explore how the City can, starting now, respond to these factors. . Preparation of technical analysis. Technical analysis will build upon prior and ongoing futancial analysis and modeling efforts conducted by the City staff in recent years. A straightforward fiscal/financial model is proposed to identify and illustrate future budget conditions in five and ten year horizons. . Arriving at conclusions and action steps. The independent financial review will focus on quickly and efficiently identifying potential problems and actions to avert such problems. As such, the effort, when completed, will constitute a strategy composed of a series of discrete actions directed at problems that have been identified. 2 M: \ PropoSJIIs \ 170005 \ 1700tidlldll_lIisl1l \17006pte::rt.doc 13-32 Draft Wo,-k Program Chula Vista Financial Review January 16, 2007 WORK PROGRAM TASK 1- PROJECT INITIATION WORKSHOP Initially, a comprehensive data request will be assembled for City staff_ Following receipt and review of the requested data, the Consultant will conduct a daylong workshop with City staff to discuss the financial review topics and make inquiries regarding data provided. This workshop will assure that the Consultant has a complete set of relevant information from City staff and that the staff has an opportunity to explain and elaborate on the topics, as may be necessary. The workshop would be structured according to the financial review topics, with the relevant, knowledgeable staff members joining the workshop as necessary to elaborate on the topic and explore any issues. A memorandum will be prepared following the workshop that summarizes what has been discussed and agreed upon, including the production of documents and data, any revisions or specifications of the work program, and the ongoing roles and relationships between the Consultant and staff as the review proceeds. TASK 2 - CITY BUDGET ANALYSIS AND FORECAST Over the past two decades of growth and development, the City of Chula Vista has enjoyed steady growth in its revenue base, while at the same time service costs needed to maintain and improve service standards have continued to increase. The City has managed this process successfully up to this date. All the normal indicators appear positive and sound, despite the continuing challenges presented by an unstable State/local government fiscal regime, continuing demands for improved employee benefits, and the vagaries of national economic cycles. As a part of this analysis, the standard indicators of fiscal soundness will be explored including current (mid-year) budget conditions, evaluation of recent CAFRs, and forecasting that is prepared by the City as a part of its budget preparation. However, the key in this analysis will be the identification of the major trends, expected events, or changes that will influence the budget in the future. This major trends include endogenous factors such as reduced levels of development as the City nears "buildout", socio- economic and demographic shifts, impacts of increasing defined benefit retirement obligations and increasing maintenance expenditures, as well as exogenous factors such as changing regional market conditions, expected changes in State law affecting municipal finance, and national economic cycles. Given uncertainties regarding, these factors it will be important to use "sensitivity analysis" to explore variations in these assumptions. A straightforward fiscal modeling framework will be prepared to test and evaluate these anticipated changes, set against a backdrop of the City's existing budget forecasting efforts. This analytical effort will result in a quantitative assessment of fiscal trends at a five- and ten- 3 M:\Propasals\1700Ds\17DD6chulIUlisill\17005pte:ct.doc 13-33 Draft Work Program Chula Vista Financial ReV1."ew January 16, 2007 year time horizon, as required in the RFP. The analysis will also be directed to evaluate the "marginal" impacts of key sub-areas of the City including the Bayfront, the urban core, and the remaining eastside development. The fiscal analysis will be conducted in three phases. First, basic financial documents will be obtamed and reviewed. Conclusions regarding budget review will be documented in a summary memorandum. This will be followed by identification of the major trends, expected events, or changes that will influence the budget in the future and circulated in memorandum form for review and comment. Finally, the budget forecast will be prepared, given likely dynamics and reflecting a range of possibillties so that a "best case" and a "worst case" can be identified. As noted above, this. analytical effort will be compatible with the City's ongoing budget forecasting efforts. TASK 3 - CAPITAL IMPROVEMENT ANALYSIS The City has engaged in substantial capital investments during the past two decades including capital projects associated with providing municipal facilities and services to the developing eastside neighborhoods and major City-serving facilities including the City library, police administration building, and City Hall reconstruction. This task will include an evaluation of the current capital improvement program focusing upon the adequacy of funding to meet capital requirements. Additionally, the growing needs of the City to maintain and reconstruct infrastructure as this infrastructure ages will be evaluated. The development impact fees paid by new development created a substantial amount of funding over the past two decades tQ build existing infrastructure. However, maintaining and J;econstructing this infrastructure will fall pJ:imarily upon Citywide sources. It may be necessary to adopt a "life-cycle" approach to capital financing to assure that adequate funding, consistent with appropriate accounting standards, are raised and set aside to fund these future costs. TASK 4 - ASSESSMENTOF TAX INCREMENT FINANCING The City has established a redevelopment agency, which has the authority to issue "tax increment financing" - bonds secured by a pledge of property taxes otherwise accruing to local (and state) government units. Chula Vista has had an active redevelopment program for many years with a number of project areas created to reduce blight and provide for urban revitalization. While redevelopment activities are rarely without controversy, the agency has successfully completec\ many projects. We are also aware that the Community Development Department; which administers the redevelopment agency, has recently undergone some managementreview and reorgimizing efforts, including tile creation of an oversight nonprofit corporation. The redevelopment agency review will focus on an assessment of current capacities and liabilities - the status of the project areas with respect to anticipated increment, liabilities, and 4 1I1;\Propasals\17000s\17005chllla_vistli\17006pte:J..i.dot: 13-34 Draft W~71"k Program Chula Vista Financial Review January 16, 2007 funding capacity. Regarding capacity, it will be important to review management practices regarding how costs and revenues are applied. Finally, it will be important to identify pending projects and what expectations exist for redevelopment resources. In Chula Vista, as is the case elsewhere, there is a tendency to assume that resources are greater than they actually are, that the resources "belong" to the project that generates them, and that there are no costs associated (e.g., losses to the City's General Fund). Accordingly, it will be valuable to establish criteria for allocation of redevelopmentresources, including remaining unallocated tax increment flows and flows expected from subsequent agency actions (e.g., new projects). TASK 5 - RETffiEMENT SYSTEM LIABILITIES The topic of retirement system liabilities is of substantial concern for many local governments because current decisions and commitme,nts regarding public employee retirement benefits will, as a continuing contractual obligation, affect budgets for years to come. Continued pressure to ,improve benefits, the "defined" nature of these systems combined with volatility in financial markets, and expected longevity of those receiving retirement benefits all make analysis, let alone meeting these obligations, challenging. Public employee retirement systems that have not responded positively to those pressures have caused significan~ financial difficulty for municipallties around the State. Documentation regarding the City's current retirement obligations will be obtained, including financial statements, collective bargaining agreements, PERS data, etc. Interviews will be conducted with key staff people (finance and human resources) following this review to reveal or better understand issues that )1lay exist. A memorandum will be prepared documenting the resUlts of this inquiry. If significant issues are revealed that suggest significant unfunded liabilities in the future, a more thorough actuarial analysis may need to be conducted to measure the actual size of the liability. TASK 6 ~ CONCLUSIONS & RECOMMENDATIONS At the conclusion of the technical efforts, the interim results documented in technical memoranda will be assembled and a set of over arching conclusions and recommendations articulated. As noted previously, this overall analysis is intended to be "high-level" rather that overly detailed,focusing on the potentially big issues that will influence the City's fiscal and financial well-being in coming decades. Recommendations will focus on changes that can be made presently'to manage expected problems. However, in some instances, additional, more detailed analysis may be required before a clear path forward can be articulated, especially given the sensitivity of tllese problems (e.g., unfunded retirement system liabilities). The conclusions and recommendations will be prepared in summary presentation format for presentation and discussion with the City's senior management, the Mayor, and City Council members. ' 5 10.1; \PTapl1SllI. \17000.' 17006chuIa_tJ~~tl/ \ 17006pfal.Joc 13-35 Dl"ajt Work Pragl"am Chula Vista Fin.ancial Review January 16, 2007 PROPOSED STAFFING, BUDGET & SCHEDULE Senior EPS staff, including Walter Kieser, Managing Principal, and Richard Berkson, Principal, will conduct the proposed financial review. Paul Shabsis will assist Mr. Berkson and Mr. Kieser with research and modeling efforts. Mr. Kieser will serve as Principal-in-Charge; Mr. Berkson will serve as day-to-day Project Manager. As noted in the technical proposal, the financial review is viewed as a collaborative effort. It is expected that a significant effort will be required on the part of staff, including senior staff, to assist with document assembly and assessment and provide necessary guidance. It also may be the case that existing contractors serving the City, auditors, retirement specialists, etc. may also provide helpful information and insights. The budget for the financial review is estimated to be $40,340. This is above the $30,000 suggested in the RFP; however, careful consideration of the tasks involved, the need for effective liaison and communication, and foreknowledge of the circumstances in Chula Vista all suggest that more resources will be required. Moreover, it may be the case that additional detailed analysis, beyond the scope of the financial review, will be indicated by the financial review. Examples of potential additional analysis include preparation of detailed "life cycle cost" analysis for public facilities maintained by the City, actuarial analysis of retirement liabilities, and tax increment forecasts based upon detailed market absorption analysis. Meeting the 45 to 60 day schedule set forth in the RFP will require a concerted effort on the part of the Consultant and the City staff. Key to meeting this schedule will be conducting the project initiation workshop immediately following the establishment of the consulting contract and expeditious collection and delivery of the necessary data and background information so that the review effort can get underway. 6 M:\PropoSlllo\1.70D0s\!7006chu1l1_tliSIIl\17006pta~doc 13-36 Economic & Planning Systems I'llb/J.' j:ll"I'I<C Rl'<J1 f'Si<lll! !:cond1l1i($ Rq;itltJ<J1 rrOtWmii~ l.IW'/ l'~" t'"lit)' EDUCATION PAUL SHABSIS Research Analyst As a Research Analyst at EPS, Paul Shabsis has worked at the firm for over one year. He has academic and professional experience in areas of real estate market analysis, fiscal and economic impact analysis, affordable housing, and incorporation analysis. Bachelor of History, University of California, Berkeley, 2005 AFFILIATIONS SPUR member SELECTED PROJECT EXPERIENCE c Real Estate Market Analysis Mr. Shabsis has academic experience studying the evolution of commercial and residential development in the western United States. He has analyzed a variety of real estate product types, including residential, retail/commercial, office, industrial, and multi-use markets. Fiscal and Economic Impact Analysis Mr. Shabsis has developed models to evaluate the fiscal and economic impacts of a variety of projects. Some have assisted local jurisdictions in assessing the potential fiscal and economic benefits of redevelopment projects. Affordable Housing Mr. Shabsis has experience in affordable housing development impact fee analysis, including jobs-housing linkage fee analysis. Housing Needs Assessment Mr. Shabsis has experience in housing needs assessment at the county level. lhis involves quantifying supply and demand for housing across the economic spectrum, with a focus on the need for affordable housing. Incorporation Analysis Mr. Shabsis is currently completing an incorporation study. This involves projecting municipal cost and revenues and determining the financial feasibility of the proposed municipality. It also involves evaluating the impacts of incorporation upon agencies presently providing services to the area. BE R K E LEY :!;':Oi NillfnSlr.eel,'inite2\){J Rerkel~y, C;\ 94711) www,'m~Y$ l'nm SAC RAM E N T 0 DEN V E R pht.nt- 51 i)_~.ll ..'>1 '-"! fa~ 5 i [Hi.~1.~'2(l:i "",.." V" pht'tJl' <1j,<_fd"_il<1j(, i~, ,-,. i (;-;,--19-2')7{' ph"'h; Ie) '_h~1. \.~~-; LIX )i',l_(,-'.i,'iU_l'; M:\RESUME\ Rf'Sum~s07\ShIl/15is07 ..gelleral.doc 13-37 EDUCATION Bachelor of Arts degree in Environmental Studies and Biology from Sonoma State University (SSU) in 1974. Graduate course work in economics and public administration at SSU and the University of California, Berkeley. AFFILIATIONS American Planning Association, Member California Association of Local Agency Formation Commissions, Associate Member HONORS + AWARDS FTAlFfWVAlAPA "Transportation Planning Excellence Award" 2004 - Valiey Metro Rail Station Development Opportunities and Strategies, Phoenix, AZ California APA "Award of Merit for Planning implementation" 2002- Sonoma County Housing Element, Sonoma County, CA BERKELEY 2'~\1! N'T;;mSiT'l'lr,~;]nF ~f){l HLil);T'(e_\',l.\Y.HIiJ-;515 Economic i6- Planning Systems Pulllit h'''I>JCf' RMJ fH~h Ikp"ornh.. RrgitFtal fll"'''mii~ {,wd (!,~ P,;!itr WALTER F. KIESER Managing Principal Mr. Kieser is a Founder, Managing Principal, and President of Economic & Planning Systems, Inc., an urban economics consulting firm with offices in Berkeley, Sacramento, and Denver. The firm serves public and private sector clients throughout the United States. EXPERTISE Urban and Regional Planning Participated in the preparation of numerous comprehensive and specific plans for cities and COlIDties, with emphasis on demographic and economic forecasts, real estate market analyses, land use analyses, and policies and programs related to growth management, transportation, urban revitalization, recreation and open space, public services and infrastructure, and housing. Economic Development and Revitalization Assisted cities with preparing economic development and revitalization strategies associated with downtown business areas, visitor-seIVing resort development, and retail shopping centers. These strategies have involved. the use of traditional redevelopment techniques, public/private partnerships, and implementation of transit-oriented mixed use development. Resource Conservation Participated in numerous programs and projects designed to preserve open space and natural habitats, preserve agricultural lands, and ensure productive and sustainable use of natural resources. These programs applied creative regulatory mechanisms (planning and zoning), compensatory regulations, and public acquisition techniques. Government Organization Prepared numerous governance feasibility studies addressing municipal incorporation, major annexations, special district formations and consolidations, and inter-governmental agreements. These feasibility studies typically involved preparation of detailed pro forma operational and capital budgets, and analysis of impacts of reorganization upon existing agencies. Negotiated Agreements Managed and participated in numerous real estate developments, infrastructure financing, and intergovernmental negotiations involving public and private participants. These negotiations have resulted in successful agreements, including mitigation and tax sharing agreements, intergovernmental agreements, development agreements, owner participation agreements, and real estate disposition agreements. SACRAMENTO DENVER p!lmH' ,I ! (,-6.~\)~fiC) i () f;n 91r,.',.f'l-.:r"'i i'~'H'~ ~(lj-(1.:~-.L'57 t~1 < l o"l _1.2 J -'.1).1 'J "''''10.' i'.;'~'.',;,n...' f~!'"<l s:n"lI-<l.,-.j..'lj I \... );th~41._\)211,! M;\RESUME\Resullu:s07\KiestrOl )OIlg.doc 13-38 WALTER F. KIESER 12 ECONOMIC & PLANNING SYSTEMS Fiscal and Economic Impact Analysis Prepared detailed fiscal and economic impact analysis on a wide variety of land use plans, development projects, government reorganization proposals, infrastructure projects and initiative ballot measures. These quantitative analyses have focused on determining potential fiscal and financial impacts, the costs of growth, and ensuring successful implementation of public policy objectives. Public Finance Prepared numerous public financing strategies and plans for a wide variety of public services and infrastructure projects, including development project- related infrastructure, area-wide capital improvement programs, open space and conservation projects and specific infrastructure projects, Financing techniques applied have included formulation of area-specific and facility- specific development impact fees, special tax bonds, and redevelopment tax increment financing. M:\RE.SUMEIResumes07\Kiest107 _lung.doc 13-39 EDUCATION Master of Public Policy, University of California, Berkeley, 1982 Bachelor of Arts in Social Science, University of California, Berkeley, 1980 Undergraduate study in Engineering, Massachusetts Institute of Technology, 1976-1977 PREVIOUS EMPLOYMENT Research Associate, Angus McDonald and Associates (1981-1983) 8 E R K E L. E Y :!5Ui Nimh Slfcel, Sni:el11l) Herkeky, C A 947111 www.~I'~Y$ cow Economic <3- Planning Systems J'ld}li~' l'in"HII'1' R"lll Ii,'are f:,Ull;Il!I/,,, J{"gi<lll<l{ tf{"'l)rni(~ r<1I1,1 t"-'l! Pwlhr RICHARD L. BERKSON Principal Richard L. Berkson, an EPS founding partner, has substantial experience in fiscal and budgetary forecasting, and evaluating the market and financial analysis of land use plans, capital improvement programs, local government reorganization proposals, and real estate projects. His work includes conducting budget analysis, market studies and detailed pro forma cash flow analyses of public/private development proposals. SELECTED PROJECT MANAGEMENT EXPERIENCE Alameda Development Services Department Budget Reorganization and Analysis, Alameda, CA The Development Services Department of the City of Alameda retained EPS to reorganize the structure and format of its departmental budget consisting primarily of restricted funds. These funding sources included property tax increment, lease revenues, Commuility Development Block Grant (CDBG), and HOME funds. The reorganized budget provided a basis for developing a budget forecast for the department, which dearly outlined future revenues, project commitments, debt service obligations, and available net balance. The budget forecast helped to better inform policy decisions about the department's future goals and commitments. Kansas City Investment Sustainabllity, Kansas City, MO Kansas City historically has provided substantial incentives to encourage economic development, job creation, housing and business retention. However, the City's concerns about the potential impacts of incentives, revenue diversions and tax abatements on the City's budget and services prompted a study of its incentive policies. EPS, as part of a consulting team,. worked with City staff to develop a fiscal model to evaluate the short and long-term effects of incentives, abatements, and debt service guarantees and to propose alternative policies. Treasure Island Redevelopment, San Francisco, CA Since 1995, EPS has provided services to the Treasure Island Development Authority (TIDA) and the City of San Francisco. Projects have included financial and market analysis of waterfront development, evaluation of infrastructure financing for the Treasure Island reuse plan. lease negotiations with developers, pro forma cash flow analyses, development strategy and planning for the Business Plan and Economic Development Conveyance (EDC) Application for NSTI, and EDC Negotiations with the Navy. SAC RAM E N T 0 DENVER ~")? I'h'\1)(" "1,;.f)4,...j-l(Jj(' t'nx _)\6_1_..),)..:;:1)71, phl'n>: l(, ;..,i~:l I." L\\ \('j.6.:'J."\!~\l plwn~ 5iU-ll")].,'l"" ja," 51')-8,ll-"2(l.') M:\RESUME\Resumes07\B~lcson07 -pub.doc 13-40 RESOLUTION NO. 2007- RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AMENDING THE FISCAL YEAR 2006-2007 CITY COUNCIL BUDGET IN ACCORDANCE WITH THE BUDGET TRANSFER POLICY; APPROVING, IN CONCEPT THE SELECTION OF ECONOMIC & PLANNING SYSTEMS (EPS) AS THE CONSULTANT TO PERFORM AN INDEPENDENT FINANCIAL REVIEW OF THE CITY OF CHULA VISTA; AND DIRECTING THE CITY MANAGER TO PROCEED WITH CONTRACT NEGOTIATIONS WHEREAS, on December 5, 2007, Mayor Cox presented her 10-point action plan, which included as its first point of action an Independent Financial Review (IFR) of the City's finances; and WHEREAS, on January 4, 2007, in consultation with the 1FR Council Subcommittee, consisting of Mayor Cox and Councilman Castaneda, the City Manager issued a Request for Proposals (RFP) in order to identifY a third-party consultant to conduct the IFR; and WHEREAS, Economic & Planning Systems (BPS) submitted a proposal in response to the RFP and the 1FR Council Subcommittee has determined EPS to be the most responsive and responsible bidder with the proposal that best meets, or exceeds, the requirements of the Scope of Work included in the RFP, and is considered to be the most advantageous to the City; and WHEREAS, the cost of retaining EPS to conduct the IFR will be in an amount not-to- exceed $40,000, and will require a budget transfer between budgetary categories within the City Council's operating budget; and WHEREAS, the City Council Policy on Financial Reporting and Transfer Authority indicates that any transfers between budgetary categories (personnel Services, Supplies and Services, Other Expenses and Capital) over $15,000 requires City Council approval; and WHEREAS, it is anticipated that sufficient savings exists within the City Council Budget due to reducing the Coastal Environmental Land Use Consultant position from full-time to half- time; and WHEREAS, the anticipated contract with EPS will be under the maximum dollar amount of contracts which the City Manager is authorized to enter into on the City's behalf, pursuant to the City's Municipal Code. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula Vista hereby approves, in concept, the selection of Economic & Planning Systems to perform an Independent Financial Review of the City; amends the Fiscal Year 2006/2007 budget by transferring $40,000 from the Personnel Services category to the Supplies and Services category 13-41 02/06/2007 Item - Page 2 of2 to fund the Independent Financial Review; and directs the City Manager to proceed with contract negotiations, accordingly. Presented by Approved as to form by gc~au :J;;! ore ~i~ ttomey Maria Kachadoorian Director of Finance 13-42