HomeMy WebLinkAbout15837RESOLUTION NO. 15837 A RESOLUTION APPROVING AND AUTHORIZING THE PURCHASING AGENT TO EXECUTE A PROFESSIONAL SERVICES AGREEMENT IN THE AMOUNT NOT TO EXCEED $107,480 BETWEEN THE CITY OF PUEBLO, A COLORADO MUNICIPAL CORPORATION, AND FINANCIAL CONSULTING SOLUTIONS GROUP, INC, D.B.A. FCS GROUP, FOR FINANCIAL EVALUATION OF THE WASTEWATER ENTERPRISE WITH RESPECT TO THE WIFIA AND SRF LOAN APPLICATIONS AND THE RATE ASSESSMENT IN 2025 AND TRANSFERRING $107,480 FROM WW1705 TO WW2304 FOR THE PURPOSES THEREOF. BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that SECTION 1. The agreement between Financial Consulting Solutions, d/b/a FCS Group, the City of Pueblo, a Colorado Municipal Corporation attached hereto, having been approved as to form by the City Attorney, is hereby approved. The Purchasing Agent is hereby authorized to execute said contract on behalf of the City of Pueblo, a Colorado Municipal Corporation, and the City Clerk shall affix the seal of the City thereto and attest the same. SECTION 2. Funds in the amount of $107,480 are hereby transferred from account Project WW1706 into account Project WW2304, Secondary Clarifier Project. SECTION 3. The officers and staff of the City are authorized and directed to perform any and all acts consistent with the intent of this Resolution and the attached Agreement to effectuate the policies and procedures described herein. SECTION 4. This Resolution shall become effective immediately upon passage and approval. INTRODUCED: December 9, 2024 BY: Brett Boston MEMBER OF CITY COUNCIL APPROVED: __________________________ PRESIDENT OF CITY COUNCIL ATTESTED BY: ________________________ CITY CLERK City Clerk's Office Item # M3 Background Paper for Proposed Resolution COUNCIL MEETING DATE: December 9, 2024 TO: President Mark Aliff and Members of City Council CC: Mayor Heather Graham VIA: Marisa Stoller, City Clerk FROM: Andra Ahrens, Director Wastewater SUBJECT: A RESOLUTION APPROVING AND AUTHORIZING THE PURCHASING AGENT TO EXECUTE A PROFESSIONAL SERVICES AGREEMENT IN THE AMOUNT NOT TO EXCEED $107,480 BETWEEN THE CITY OF PUEBLO, A COLORADO MUNICIPAL CORPORATION, AND FINANCIAL CONSULTING SOLUTIONS GROUP, INC, D.B.A. FCS GROUP, FOR FINANCIAL EVALUATION OF THE WASTEWATER ENTERPRISE WITH RESPECT TO THE WIFIA AND SRF LOAN APPLICATIONS AND THE RATE ASSESSMENT IN 2025 AND TRANSFERRING $107,480 FROM WW1705 TO WW2304 FOR THE PURPOSES THEREOF. SUMMARY: This Resolution approves an agreement between the City and our Rate Consultant of Record, FCS Group, for professional services providing financial consultation in applying for SRF and WIFIA loans and using that financial information in the rate assessment in 2025. PREVIOUS COUNCIL ACTION: Ordinance No. 10429 awarded an agreement between the City of Pueblo and Financial Consulting Solutions Group, Inc., DBA FCS Group, Inc. and named Financial Consulting Solutions Group, Inc., DBA FCS Group, as the Rate Consultants of Record for the Pueblo Wastewater Department, on April 12, 2023. BACKGROUND: The James R. DiIorio Water Reclamation Facility was issued a groundwater discharge permit that requires the facility to be in compliance with the manganese and selenium limits. To meet these requirements, three new clarifiers need to be built above the groundwater level, so groundwater does not need to be pumped into the Arkansas River. This project will cost an estimated $55 million. Most of the project will need to be financed through government loan programs. FCS Group, Inc. will prepare the financial information needed to apply for these loans. The information needed for both the rate evaluation and the loan application includes information on financial forecasting and the revenue requirements for the loans. The income that is needed covers the cost of the loan repayment and the cost of maintaining the collection system and treatment facility. the loan applications. FINANCIAL IMPLICATIONS: Project WW1706 Bessemer Ditch Crossing has been completed and has a balance remaining of $116,068. The funds in the amount of $107,480 are being transferred from Project WW1705 to WW2304 Secondary Clarifier project. BOARD/COMMISSION RECOMMENDATION: Not applicable STAKEHOLDER PROCESS: None ALTERNATIVES: None RECOMMENDATION: Approval of the Resolution. ATTACHMENTS: 1. 12-09-24 Rate Study FCS SOW 2. 12-09-24 Rate Study 23-030 FCS Agmt Rate Study 2025