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OCII hires PFM for financial modeling and debt support, contract capped at $108,000
Summary
The commission authorized a personal services contract with Public Financial Management (PFM) for up to $108,000 for financial modeling, debt administration support and related advisory work; the two‑year contract includes a one‑year option and passed 4–0 with one absence.
The Commission on Community Investment and Infrastructure voted to authorize a personal services contract with Public Financial Management Inc. (PFM) not to exceed $108,000 for financial advisory services, including financial modeling, debt administration support and policy advice on portfolio administration.
John Degel, OCII debt manager, described the selection as coming from the city’s competitively established financial advisory pool and said staff picked PFM based on depth of staff, experience with post‑dissolution tax allocation bonds and reasonable pricing. Degel outlined the budget as approximately $20,000 for financial modeling, $70,000 for data administration support and an $18,000 contingency.
Degel said the contract term is two years with an optional one‑year extension at the executive director’s discretion. He noted that current regulations require municipalities to receive finance proposals through a financial advisor, which is one reason OCII wants an on‑call advisor for idea screening and model development.
Commissioners asked whether OCII previously had a general financial advisory agreement; staff replied OCII had typically engaged advisors for specific bond transactions but not a standing FAA. A motion to approve the contract (Resolution 37‑2018) passed on a roll‑call vote of four ayes, one absent.
The contract authorization allows staff to finalize scope and enter the agreement with PFM and to return to the commission with any material changes required by negotiation.
