The vendor is required to provide financial consulting services to assist the city in achieving a successful metro district service plan review process.
- The financial review and associated deliverables must include the following items, at a minimum:
1. Compliance review
• Financial plan validation: Verify alignment with the model service plan requirements under §13-2100, including debt capacity calculations, mill levy limitations (50 mills max for residential districts), and 35-year repayment terms.
• Material modifications: Assess compliance with §13-3102 for any deviations from approved service plans, such as changes to debt schedules, mill levy pledges, or reimbursement agreements.
• Regional improvement mill levy: Ensure adherence to §13-2101, including proper authorization and remittance of the regional improvement mill levy for projects approved after January 1, 2023.
2. Financial assessment
• Debt structuring: Evaluate debt issuance schedules, interest rates (max 12%), and underwriting discounts (max 3%) as per §13-2101.
• Reimbursement agreements: Scrutinize developer reimbursement terms to confirm they do not exceed 80% of actual public improvement costs or $25,000 for organizational expenses (§13-2100).
• Assessed valuation: Validate financial projections against market-based assumptions, including a 4% biennial growth cap on completed structures (§13-3101).
3. Public benefit analysis
• Extraordinary public benefits: Quantify benefits per §13-1000, such as infrastructure exceeding city standards or addressing strategic priorities.
4. Reporting and deliverables
• Findings report: Detailed analysis of compliance gaps, financial risks, and recommended corrective actions.
• Public hearing support: Prepare summaries for council review under §13-3101, including comparisons to the city’s model service plan.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: May 20, 2025