Memorandum
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The memorandum discusses a recommendation to adopt a resolution authorizing the Housing Director to negotiate and execute a Third Amendment to the Standard Consultant Agreement with CSG Advisors Incorporated. This amendment aims to increase compensation by $250,000, bringing the total maximum compensation to $1,000,000 for consulting services related to housing finance and development advisory, with the term ending June 30, 2027. The amendment is necessary to support the City's housing programs and project financial feasibility work, reflecting an expanded scope of work.
Key points
- The memorandum is addressed to the Mayor and City Council.
- It recommends adopting a resolution for a Third Amendment to the Standard Consultant Agreement with CSG Advisors Incorporated.
- The amendment proposes an increase in compensation by $250,000, totaling a maximum of $1,000,000.
- The services include housing finance and development advisory and housing policy consulting.
- The contract term is set to end on June 30, 2027.
- CSG Advisors has been providing support since 2001 and was selected through a competitive procurement process.
- The increase in compensation is due to a growing workload in housing project feasibility analysis and policy development.
- No follow-up action with the City Council is expected at this time.
- The contract increase will be funded through the Low- and Moderate-Income Housing Asset Fund.
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