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CITY COUNCIL <br />AGENDA ITEM 2A <br /> <br /> <br />STAFF ORIGINATOR: Hannah Lynch, Finance Director <br /> <br />MEETING DATE: July 24, 2023 <br /> <br />TOPIC: Resolution 23-75, Appointment of Municipal Advisor <br /> <br />VOTE REQUIRED: 3/5 <br /> <br /> <br />BACKGROUND <br /> <br />Local governments engage a municipal advisor to assist in the structuring and issuance of bonds. <br />Other MA services include: <br /> <br />• Meeting continuing disclosure requirements <br />• Monitoring existing debt for refunding opportunities <br />• Performing arbitrage rebate calculations <br />• Assist with financial reviews of development proposals and negotiations related to the <br />use of public subsidy <br />• Perform tax increment financing (TIF) analysis and preparation of documents including, <br />but not limited to TIF plans and TIF reports to the State Auditor’s Office <br />• Perform tax abatement analysis, review, recommendations, and preparation of documents <br />• Provide guidance on potential economic development programs and activities <br /> <br />The contract with the city’s current municipal advisor, Baker Tilly, was up for renewal. In order <br />to properly evaluate the renewal fees, services provided, and personnel assigned, the city put out <br />a request for proposals. Staff reviewed the proposals and conducted interviews of three firms. <br />Following the competitive process, staff recommends appointing Ehlers as the City’s Municipal <br />Advisor. <br /> <br />RECOMMENDATION <br /> <br />Staff recommends approving Resolution 23-75, Appointment of Municipal Advisor. <br /> <br />ATTACHMENTS <br /> <br />Resolution 23-75