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Trust approves revised Alliance professional services agreement, moves more cost to TIF funding
Summary
The trust approved the Alliance for Economic Development—s annual professional services fee with adjustments to scope and an increase in the base contract of about 3%; staff said the contract reallocated costs from general fund additional services to TIF-funded base services.
The Oklahoma City Economic Development Trust approved the Alliance for Economic Development—s annual professional services agreement on May 20 after staff described scope clarifications and funding adjustments.
Joanna McSpadden, finance department, said staff clarified some ambiguous scope items and added specific tasks the Alliance has been performing, such as map development. She told trustees the contract reduced the additional-services line (saving general fund dollars) and increased the base contract that is funded by TIF and other non-general-fund sources. “Their base contract was increased by 3%,” McSpadden said.
Trustees moved and passed the resolution with no recorded amendments; staff said the funding realignment better matched the Alliance—s work with the appropriate funding sources.
The action formally authorizes the Alliance—s revised scope and funding for the coming fiscal year.
