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Council recommends David Drown & Associates as municipal advisor after RFP
Summary
Staff reported four proposals for municipal advisory services and recommended David Drown & Associates based on cost and local presence; the recommendation was placed on the consent agenda and approved by the committee.
City staff told the Committee of the Whole that an RFP for municipal-advisory services drew four proposals and that David Drown & Associates offered the lowest estimated fee in an example $4 million bond scenario ($22,000). Bill Sonmore said Baker Tilly, the incumbent advisor, did not submit a proposal and staff recommended contracting with David Drown & Associates, with Jason Murray named as the city's municipal advisor and as an existing TIF consultant.
Staff representatives said committee and mayoral review led to an invitation for Jason Murray to meet the investment committee, and references checked favorably. Council members moved the recommendation to the consent agenda and the committee approved that consent item by voice vote.
Staff noted the decision could generate savings on future financing work and allow the city to coordinate TIF consulting and municipal advisory services under one firm.
The consent agenda action approved the recommendation; staff will place the item on the formal Monday council consent agenda if required for final administrative processing.
