Title
Chief Administrative Office recommending the Board authorize the Purchasing Agent to sign Agreement for Services with Economic & Planning Systems, Inc. (EPS) for the development of a financing plan for Diamond Springs Parkway for a period of one year, in an amount not to exceed $25,000 (General Fund), and adopt recommended findings.
RECOMMENDED ACTION: Approve.
Body
BUDGET SUMMARY:
Total Estimated Cost $25,000
Funding
Budgeted $25,000
New Funding $
Savings $
Other $
Total Funding Available $25,000
Change To Net County Cost $
Fiscal Impact/Change to Net County Cost: Funding is available within the Economic Development budget.
Background/Reason for Recommendation: The county is in need of specialized financial services to outline a funding mechanism for the improvements contained in the Missouri Flat Master Circulation & Funding Plan (MC & FP) that was adopted by the Board approximately eight years ago, with particular emphasis on the construction of the Diamond Springs Parkway (formerly "the Connector).
The consultant will need to review the status of various funding mechanisms presently in place, such as the county's Transportation Impact Mitigation (TIM) fees, sales and property tax revenue generated by existing retail businesses and also the structure, implementation and funding defined in the existing Missouri Flat Community Facilities District (CFD). The consultant will also need to identify other potential funding sources.
The CAO has contacted EPS, who prepared the MC & FP for a scope of services (attached), which outlines a strategy to accomplish the desired work referenced above. Their proposed scope is capped at $25,000 and work will be completed in five phases over a six to eight week timeline depending on the availability of documents from the County dating back to the period of 1998-2000. The contract has been approved by County Counsel and Risk Management...
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