Long Beach, CA
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File #: 14-1058    Version: 1 Name: FM - Financial Consulting Svcs
Type: Contract Status: CCIS
File created: 12/1/2014 In control: City Council
On agenda: 12/16/2014 Final action: 12/16/2014
Title: Recommendation to adopt Specifications No. RFP FM15-013 and award a contract to Michael M. Palmieri, a sole proprietorship, of Napa, CA, to provide Civic Center financial consulting services, in an amount of $450,000, and authorize a 10 percent contingency in the amount of $45,000, for a total not to exceed contract amount of $495,000, for a period of two years, with the option to renew for three additional one-year periods, at the discretion of the City Manager. (District 2)
Sponsors: Financial Management
Indexes: Contracts
Attachments: 1. 121614-R-21sr.pdf
Related files: 33723_000, 33651_000, 16-0214, 33651_001
TITLE
Recommendation to adopt Specifications No. RFP FM15-013 and award a contract to Michael M. Palmieri, a sole proprietorship, of Napa, CA, to provide Civic Center financial consulting services, in an amount of $450,000, and authorize a 10 percent contingency in the amount of $45,000, for a total not to exceed contract amount of $495,000, for a period of two years, with the option to renew for three additional one-year periods, at the discretion of the City Manager. (District 2)

DISCUSSION
Should the City Council decide on December 9, 2014 to proceed with the Civic Center project, City Council approval is being requested to enter into a contract with Michael M. Palmieri for providing financial consulting services for the Civic Center project. Projects of this nature and complexity require the expertise of a professional financial consultant who is an expert in Public-Private Partnerships as well as in municipal financing. The consultant will assist the City in developing and negotiating the complex contracts needed to ensure the design, construction, financing, and operation and maintenance of the public portion of the Civic Center and to help ensure the appropriate transfer of risk and costs to the private partner.

A Request for Proposals (RFP) was advertised in the Press-Telegram on November 10, 2014, and 3,376 potential proposers specializing in professional, architectural, and technical services were notified of the RFP opportunity. Of those potential bidders, 57 downloaded the RFP document via the City’s electronic bid system. The RFP document was made available from the Purchasing Division, located on the seventh floor of City Hall and the Division’s website at 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-owned business groups. Eight proposals were received on November ...

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