TITLE
Recommendation to authorize City Manager to enter into three-year agreements with Frasca & Associates, L.L.C. (Frasca), and Ricondo & Associates, Inc. (Ricondo) for as-needed airport financial consulting services for a total combined annual amount not to exceed $395,000; execute amendments to extend the term for up to two additional two-year terms; increase the maximum authorized amounts; authorize additional services, if required, within the provisions of the contracts; adjust the fee schedules for inflation; and increase appropriations in the amount of $300,000 in the Airport Enterprise Fund (EF 320). (District 5)
DISCUSSION
The Airport advertised a Request for Proposal (RFP) for aviation industry financial consulting services on December 24, 2007. The RFP document was made available from the Purchasing Division, located on the Plaza Level of City Hall, and the division's website: www.longbeach.gov/purchasing. An RFP announcement was also included in the Purchasing Division's weekly update of Open Bid Opportunities, which is sent to 30 local, minority and women's business groups. Of the 78 potential consultants notified of the opportunity, 14 firms downloaded the RFP. Responses were due on January 11, 2008. Four proposals were received and all respondents were interviewed. Based upon consultant presentations, their understanding of the Airport's issues, airport industry experience, financial expertise, airport management team and input from client references, two contracts totaling $95,000 were issued to Frasca, a WBE firm, and Ricondo to assist in a variety of airport financial feasibility studies. Issuing two contracts provides the opportunity to select one of the two firms to perform identified services based on their specific expertise. City Council approval is requested to enter into formal agreements with Frasca and Ricondo for a total combined annual amount of $395,000, which includes the previously issued amount of $95,000, for continued as-nee...
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