COUNCIL AGENDA ITEM
SUBJECT:
title
Utility Rate Study Services Agreement - Raftelis Financial Consultants, Inc. - Addendum #5
body
DEPARTMENT:
Finance
SUMMARY:
In 2015, the City broadcast a Request for Proposals (RFP 15-FIN-004) for Utility Rate Study Services. On March 2, 2015, Council awarded the contract for Utility Rate Studies to Public Resources Management Group, Inc. (PRMG) for an initial 5-year term, expiring on March 2, 2020. The Agreement included five (5) one (1) year renewal options.
On July 1, 2019, Raftelis Financial Consultants, Inc acquired all of PRMG's assets. The City and Raftelis agreed to an assignment of the PRMG contract including all terms and conditions.
On November 11, 2019, Council approved the first one-year contract extension, extending the contract to March 2, 2021.
On November 4, 2020, Council approved the second one-year contract extension extending the contract to March 2, 2022.
On November 1, 2021, Council approved the third one-year contract extension extending the contract to March 2, 2023.
At the September 12, 2022 meeting, Council approved funding in the amount of $15,500 for additional services related to review of Stormwater rate structures, billing methods and mitigation credits as well as the update of two rate design alternatives for the water & sewer minimum bill. The additional services also included additional staff meetings and council meeting presentation on the data.
On December 5, 2022, Council approved the fourth one-year contract extension extending the contract to March 2, 2024.
Both parties wish to utilize the option to renew the contract for an additional 1 year which would be Addendum No. 5 and extend the contract to March 2, 2025 and would be the final renewal available.
The contract price was locked in per the RFP in the amount of $26,000 for years 2020 to 2024.
A total amount is budgeted in the proposed FY24 budget under line codes:
440-5555-580.31-10 - $20,689
447-5555-580.31-10 - $7,089 a...
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