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