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HomeMy WebLinkAboutRFP - 7428 ON-CALL FINANCIAL SERVICESCity®f Financial Services `�( Purchasing Division 215 N. A58000805221oor Flirt Collmins FOBCollins, 100�g 970.221.6775 Purchasin � 970.221.6707 fcgov.com1puom/purchasing REQUEST FOR PROPOSAL 7428 ON -CALL FINANCIAL SERVICES The City of Fort Collins is requesting proposals from qualified firms to provide independent financial analyses for development projects seeking tax increment financing (TIF) on an as -needed basis. Proposals may be submitted by E-mail in Microsoft Word or PDF format. E-mail submittals shall be e-mailed to: purchasing(&fcgov.com. If submitting hard copy proposals, five (5) copies, will be received at the City of Fort Collins' Purchasing Division, 215 North Mason St., 2nd floor, Fort Collins, Colorado 80524. Proposals will be received before 3:00 p.m. (our clock), October 4, 2012 and referenced as Proposal No. 7428. If delivered, they are to be sent to 215 North Mason Street, 2nd Floor, Fort Collins, Colorado 80524. If mailed, the address is P.O. Box 580, Fort Collins, 80522-0580. The City encourages all disadvantaged business enterprises to submit proposals in response to all requests for proposals and will not be discriminated against on the grounds of race, color, national origin for all proposals for negotiated agreements. Questions concerning the scope of the project should be directed to Project Managers, Megan Bolin, at (970) 221-6342 or mbolin(a)fcgov.com, and/or Josh Birks, at (970) 221- 6324 or jbirks@fcgov.com. Questions regarding bid submittal or process should be directed to Jim O'Neill, CPPO, FNIGP at (970) 221-6779 orjoneill@fcgov.com. A copy of the Proposal may be obtained as follows: 1. Download the Proposal/Bid from the BuySpeed Webpage, www.fcqov.com/eprocurement The City of Fort Collins is subject to public information laws, which permit access to most records and documents. Proprietary information in your response must be clearly identified and will be protected to the extent legally permissible. Proposals may not be marked `Proprietary' in their entirety. Information considered proprietary is limited to material treated as confidential in the normal conduct of business, trade secrets, discount information, and individual product or service pricing. Summary price information may not be designated as proprietary as such information may be carried forward into other public documents. All provisions of any contract resulting from this request for proposal will be public information. RFP 7428 Urban Renewal Authority On -Call Financial Services Page 1 of 16 be used as a guide. Written notice of renewal shall be provided to the Professional and mailed no later than ninety (90) days prior to contract end. 5. Early Termination by City/Notice. Notwithstanding the time periods contained herein, the City may terminate this Agreement at any time without cause by providing written notice of termination to the Professional. Such notice shall be delivered at least fifteen (15) days prior to the termination date contained in said notice unless otherwise agreed in writing by the parties. All notices provided under this agreement shall be effective when mailed, postage prepaid and sent to the following address: Professional: City: With Copy to: City of Fort Collins City of Fort Collins Attn: Attn: Purchasing PO Box 580 PO Box 580 Fort Collins, CO 80522 Fort Collins, CO 80522 In the event of any such early termination by the City, the Professional shall be paid for services rendered prior to the date of termination subject only to the satisfactory performance of the Professional's obligations under this Agreement. Such payment shall be the Professional's sole right and remedy for such termination. 6. Design, Protect Insurance and Insurance Responsibility. The Professional shall be responsible for the professional quality, technical accuracy, timely completion and the coordination of all services rendered by the Professional, including but not limited to designs, plans, reports, specifications, and drawings and shall, without additional compensation, promptly remedy and correct any errors, omissions, or other deficiencies. The Professional shall indemnify, save and hold harmless the City its officers and employees, in accordance with Colorado law, from all damages whatsoever claimed by third parties against the City and for the City's costs and reasonable attorney's fees arising directly or indirectly out of the Professional's negligent performance of any of the services furnished under this Agreement. The Professional shall maintain commercial general liability insurance in the amount of $500,000 combined single limits and errors and omissions insurance in the amount of RFP 7428 Urban Renewal Authority On -Call Financial Services Page 2 of 16 7. Compensation. In consideration of services to be performed pursuant to this Agreement, the City agrees to pay Professional on a time and reimbursable direct cost basis designated in Exhibit "B", consisting of ( ) page(s), attached hereto and incorporated herein by this reference. At the election of the City, each Work Order may contain a maximum fee, which shall be negotiated by the parties hereto for each such Work Order. Monthly partial payments based upon the Professional's billings and itemized statements are permissible. The amounts of all such partial payments shall be based upon the Professional's City -verified progress in completing the services to be performed pursuant to the Work Order and upon approval of the Professional's direct reimbursable expenses. Final payment shall be made following acceptance of the work by the City. Upon final payment, all designs, plans, reports, specifications, drawings, and other services rendered by the Professional shall become the sole property of the City. 8. City Representative. The City will designate, prior to commencement of work, its project representative who shall make, within the scope of his or her authority, all necessary and proper decisions with reference to the project. All requests for contract interpretations, change orders, and other clarification or instruction shall be directed to the City Representative. 9. Project Drawings. Upon conclusion of the project and before final payment, the Professional shall provide the City with reproducible drawings of the project containing accurate information on the project as constructed. Drawings shall be of archival, prepared on stable mylar base material using a non -fading process to provide for long storage and high quality reproduction. "CD" disc of the as -built drawings shall also be submitted to the owner in and AutoCAD version no older then the established city standard. 10. Monthly Report. Commencing thirty (30) days after Notice to Proceed is given on any Work Order and every thirty days thereafter, Professional is required to provide the City Representative with a written report of the status of the work with respect to the Work Order, RFP 7428 Urban Renewal Authority On -Call Financial Services Page 3 of 16 Work Schedule and other material information. Failure to provide any required monthly report may, at the option of the City, suspend the processing of any partial payment request. 11. Independent Contractor. The services to be performed by Professional are those of an independent contractor and not of an employee of the City of Fort Collins. The City shall not be responsible for withholding any portion of Professional's compensation hereunder for the payment of FICA, Workers' Compensation, other taxes or benefits or for any other purpose. 12. Personal Services. It is understood that the City enters into this Agreement based on the special abilities of the Professional and that this Agreement shall be considered as an agreement for personal services. Accordingly, the Professional shall neither assign any responsibilities nor delegate any duties arising under this Agreement without the prior written consent of the City. 13. Acceptance Not Waiver. The City's approval of drawings, designs, plans, specifications, reports, and incidental work or materials furnished hereunder shall not in any way relieve the Professional of responsibility for the quality or technical accuracy of the work. The City's approval or acceptance of, or payment for, any of the services shall not be construed to operate as a waiver of any rights or benefits provided to the City under this Agreement. 14. Default. Each and every term and condition hereof shall be deemed to be a material element of this Agreement. In the event either party should fail or refuse to perform according to the terms of this agreement, such party may be declared in default. 15. Remedies. In the event a party has been declared in default, such defaulting party shall be allowed a period of ten (10) days within which to cure said default. In the event the default remains uncorrected, the party declaring default may elect to (a) terminate the Agreement and seek damages; (b) treat the Agreement as continuing and require specific performance; or (c) avail himself of any other remedy at law or equity. If the non -defaulting party commences legal or equitable actions against the defaulting party, the defaulting party RFP 7428 Urban Renewal Authority On -Call Financial Services Page 4 of 16 shall be liable to the non -defaulting party for the non -defaulting party's reasonable attorney fees and costs incurred because of the default. 16. Binding Effect. This writing, together with the exhibits hereto, constitutes the entire agreement between the parties and shall be binding upon said parties, their officers, employees, agents and assigns and shall inure to the benefit of the respective survivors, heirs, personal representatives, successors and assigns of said parties. 17. Law/Severability. The laws of the State of Colorado shall govern the construction, interpretation, execution and enforcement of this Agreement. -In the event any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision of this Agreement. 18. Prohibition Against Employing Illegal Aliens. Pursuant to Section 8-17.5-101, C.R.S., et. seq., Professional represents and agrees that: a. As of the date of this Agreement: 1. Professional does not knowingly employ or contract with an illegal alien who will perform work under this Agreement; and 2. Professional will participate in either the e-Verify program created in Public Law 208, 104th Congress, as amended, and expanded in Public Law 156, 108th Congress, as amended, administered by the United States Department of Homeland Security (the "e-Verify Program") or the Department Program (the "Department Program"), an employment verification program established pursuant to Section 8-17.5-102(5)(c) C.R.S. in order to confirm the employment eligibility of all newly hired employees to perform work under this Agreement. b. Professional shall not knowingly employ or contract with an illegal alien to perform work under this Agreement or knowingly enter into a contract with a subcontractor that knowingly employs or contracts with an illegal alien to perform work under this Agreement. C. Professional is prohibited from using the e-Verify Program or Department Program procedures to undertake pre -employment screening of job applicants while this Agreement is being performed. RFP 7428 Urban Renewal Authority On -Call Financial Services Page 5 of 16 d. If Professional obtains actual knowledge that a subcontractor performing work under this Agreement knowingly employs or contracts with an illegal alien, Professional shall: 1. Notify such subcontractor and the City within three days that Professional has actual knowledge that the subcontractor is employing or contracting with an illegal alien; and 2. Terminate the subcontract with the subcontractor if within three days of receiving the notice required pursuant to this section the subcontractor does not cease employing or contracting with the illegal alien; except that Professional shall not terminate the contract with the subcontractor if during such three days the subcontractor provides information to establish that the subcontractor has not knowingly employed or contracted with an illegal alien. e. Professional shall comply with any reasonable request by the Colorado Department of Labor and Employment (the "Department") made in the course of an investigation that the Department undertakes or is undertaking pursuant to the authority established in Subsection 8-17.5-102 (5), C.R.S. f. If Professional violates any provision of this Agreement pertaining to the duties imposed by Subsection 8-17.5-102, C.R.S. the City may terminate this Agreement. If this Agreement is so terminated, Professional shall be liable for actual and consequential damages to the City arising out of Professional's violation of Subsection 8-17.5-102, C.R.S. g. The City will notify the Office of the Secretary of State if Professional violates this provision of this Agreement and the City terminates the Agreement for such breach. 19. Special Provisions. Special provisions or conditions relating to the services to be performed pursuant to this Agreement are set forth in Exhibit "C", consisting of ) page(s), attached hereto and incorporated herein by this reference. RFP 7428 Urban Renewal Authority On -Call Financial Services Page 6 of 16 THE CITY OF FORT COLLINS, COLORADO James B. O'Neill II, CPPO, FNIGP Director of Purchasing & Risk Management Date: ATTEST: City Clerk APPROVED AS TO FORM: Assistant City Attorney [Insert Professional's name] or [Insert Partnership Name] or [Insert individual's name] or Doing business as [insert name of business] At Title: CORPORATE PRESIDENT OR VICE PRESIDENT Date: ATTEST: Corporate Secretary (Corporate Seal) RFP 7428 Urban Renewal Authority On -Call Financial Services Page 7 of 16 EXHIBIT "A" WORK ORDER FORM PURSUANT TO AN AGREEMENT BETWEEN THE CITY OF FORT COLLINS AND DATED: Work Order Number: Purchase Order Number: Project Title: Commencement Date: Completion Date: Maximum Fee: (time and reimbursable direct costs): Project Description: Scope of Services: User Acceptance Professional agrees to perform the services identified above and- on the attached forms in accordance with the terms and conditions contained herein and in the Professional Services Agreement between the parties. In the event of a conflict between or ambiguity in the terms of the Professional Services Agreement and this work order (including the attached forms) the Professional Services Agreement shall control. The attached forms consisting of _ (_) pages are hereby accepted and incorporated herein, by this reference, and Notice to Proceed is hereby given. Professional By: Date: City of Fort Collins By: James B. O'Neill II, CPPO, FNIGP Director of Purchasing and Risk Management (over $60,000.00) Date: RFP 7428 Urban Renewal Authority On -Call Financial Services Page 8 of 16 Sales Prohibited/Conflict of Interest: No officer, employee, or member of City Council, shall have a financial interest in the sale to the City of any real or personal property, equipment, material, supplies or services where such officer or employee exercises directly or indirectly any decision -making authority concerning such sale or any supervisory authority over the services to be rendered. This rule also applies to subcontracts with the City. Soliciting or accepting any gift, gratuity favor, entertainment, kickback or any items of monetary value from any person who has or is seeking to do business with the City of Fort Collins is prohibited. Collusive or sham proposals: Any proposal deemed to be collusive or a sham proposal . will be rejected and reported to authorities as such. Your authorized signature of this proposal assures that such proposal is genuine and is not a collusive or sham proposal. The City of Fort Collins reserves the right to reject any and all proposals and to waive any irregularities or informalities. Sincerely, James B. O'Neill II, CPPO, FNIGP Director of Purchasing & Risk Management RFP 7428 Urban Renewal Authority On -Call Financial Services Page 2 of 16 7428 ON -CALL FINANCIAL SERVICES SCOPE OF SERVICES BACKGROUND The City of Fort Collins Economic Health Office (EHO) and Urban Renewal Authority (URA) seek a qualified consultant to provide on -call analyses for projects requesting business incentives and/or tax increment financing (TIF) assistance. The Fort Collins URA was created to prevent and eliminate blighted conditions through the use of TIF. Property owners looking to develop and/or redevelop within an established TIF District can apply to the URA to receive reimbursements for eligible improvements. Applications are evaluated on a case -by -case basis, taking into account the public benefits provided by the project as well as the financial condition and need for TIF assistance. The URA's policy states that assistance will only be considered for projects that cannot proceed "but for" TIF. Additionally, the URA aims to ensure that TIF is being used responsibly and does not unnecessarily enrich the project. URA staff is committed to providing financial analysis services for smaller projects, but provides applicants with larger projects the option to use an independent financial analyst. Consequently, the URA seeks an on -call consultant to conduct detailed analyses for certain projects. Although the contract will be with the URA, the cost of the analysis will be paid by the applicant. The City's EHO is responsible for administering other incentives, e.g., manufacturing use tax rebates or personal property tax rebates, to enhance business retention and expansion assistance. When financial incentives are being considered for a business, it is done on a case -by -case basis based on the characteristics and needs of the company. As such, it is essential for the City and public to understand the economic impacts that company has on the community, particularly if tax revenue is rebated. In addition to financial analyses for development projects, a consultant is sought to conduct periodic fiscal and economic impact analysis reports for individual business investment projects on an on -call basis. SCOPE OF WORK Financial Analysis for Development Projects A qualified consultant is sought to provide independent financial analyses for development projects seeking tax increment financing (TIF) on an as -needed basis. The analyses should include but are not limited to the following outcomes: ■ Analyze Development Pro Forma — Complete a thorough review of the applicant's pro forma on both an un-leveraged and leveraged basis (assuming TIF is awarded). The analysis should resolve the following questions: a. Are the assumptions accurate and based on the most current market conditions and unique characteristics of the development? Questionable assumptions include: i. Rent RFP 7428 Urban Renewal Authority On -Call Financial Services Page 3 of 16 ii. Vacancy rate iii. Capitalization rate iv. Internal Rate of Return (IRR) v. Operating/maintenance costs b. If assumptions are reasonable, is the project financially viable? c. Can the project proceed successfully on an un-leveraged basis? Another way of asking this is whether the project can be built "but -for" TIF assistance? d. Is the applicant making a reasonable equity investment in the project? e. Is the applicant's IRR reasonable based on the characteristics of the project? f. Does the amount of TIF required match eligible uses of such funds? ■ Meet with Applicant and Staff —Compile sufficient information as necessary to provide an accurate financial analysis through phone and/or in -person meetings with the applicant and/or URA staff. Fiscal and Economic Impact Analysis for Business Investment Projects The consultant should also possess the ability to conduct periodic fiscal and economic impact analysis reports for individual business investment projects on a case -by -case basis. The analyses should include but are not limited to the following outcomes: ■ Analyze Fiscal and Economic Impacts — Complete a thorough review of the company in terms of direct and indirect economic impacts, e.g., jobs and wages, which result from the investment being made by the company. The fiscal impacts should also be documented in terms of revenue gained by the City in relation to the financial assistance offered by the City. Deliverables The scope of work will include the following deliverables: ■ Financial Analysis (on an as -needed basis) — Assess the financial feasibility of a project on a leveraged and un-leveraged basis. This should be a written summary with assumptions and rationale clearly articulated and documented. ■ Fiscal and Economic Impact Analysis (on an as -needed basis) — Assess the fiscal and economic impacts of a company's investment. This should be a written summary with assumptions and rationale clearly articulated and documented. AREAS OF EXPERTISE An individual and/or team is sought that possess expertise in development financial analysis and fiscal and economic impact analysis in order to assist in achieving the above outcomes. All submissions should demonstrate a clear understanding, experience, and capability in the following areas: RFP 7428 Urban Renewal Authority On -Call Financial Services Page 4 of 16 ■ Development Finance Analysis The consultant(s) should possess demonstrated experience conducting analyses for a variety of development and redevelopment projects. Knowledge of and access to current market conditions is essential, along with the ability to comprehend pro formas and make conclusions as to the project's financial feasibility. ■ Tax Increment Financing (TIF) Key personnel should possess knowledge and experience working with Urban Renewal Authorities and/or Redevelopment Agencies and understand the purpose and use of TIF. ■ Fiscal and Economic Impact Analysis The consultant(s) should possess demonstrated experience conducting impact analyses for a variety of businesses. Knowledge of and access to current impact ratios and/or models is essential, along with the ability to understand and evaluate the characteristics of a variety of business markets. FORM OF SUBMISSION All submissions shall include the following items: ■ Consultant background — a brief history and background of the consultant company(ies); ■ Project approach — a brief description of the consultant's approach to delivering the outcomes described in this Request for Proposals; ■ Scope of work — a brief outline and discussion of the proposed scope of work, relating the work to the outline provided above and any changes, modifications, or enhancements; ■ List of deliverables — a brief list of the key deliverables associated with the proposed scope of work, all deliverables will be the property of the URA; ■ Relevant experience — at least three examples of similar work conducted for either public or private clients, ideally within the last five years. Each should include a description, list of deliverables, out comes, and references; ■ Project team roles and responsibilities — a matrix, chart, or table describing the roles and responsibilities of each key team member; please tie this to the areas of expertise listed above; ■ Project manager — the response should name the primary project manager on the team; ■ Project budget — a matrix, chart, or table describing the estimated cost and allocation of resources for each key team member; ■ Resumes of key personnel — a resume of the key personnel anticipated to work on the project; and RFP 7428 Urban Renewal Authority On -Call Financial Services Page 5 of 16 ■ Additional material — any additional material that differentiates the consultant from potential competition; please limit additional material in recognition of staff time. FEES These on -call services will be awarded based on a Not -to -Exceed Time and Reimbursable Direct Cost Basis Agreement. Upon the selection of the consultant, the final fee will be negotiated with input from the consultant based upon the negotiated scope of services stipulated in the contract. Historically, 1-2 financial analyses are conducted on an annual basis. PROPOSAL REVIEW & CONSULTANT SELECTION The City intends to select a consultant based on the written proposal evaluation, but reserves the right to interview the highest ranked firms. SCHEDULE ■ Submittal Deadline: ■ Submittal Review & Vendor Selection ■ Contract Negotiation & Execution: ■ On -call services commencement: RELEVANT INFORMATION October 4, 2012 Week of October 8, 2012 October 15 - 31, 2012 Approx. November 1, 2012 ■ Fort Collins Urban Renewal Authority website: www.renewfortcollins.com ■ URA Annual Report: http://renewfortcollins.com/imq/site specific/uploads/URA annual online.pdf ■ URA Policies: http://renewfortcollins.com/imq/site specific/uploads/2010URA PoliciesFINAL 1. pdf ■ City of Fort Collins website: www.fcqov.com/business ■ Colorado Urban Renewal Law, Colorado Revised Statutes (C.R.S.) § 31-25-101 et seq.: http://www.lexisnexis.com/hottopics/Colorado/ ■ City of Fort Collins Economic Health website: www.fcgov.com/business ■ Economic Health Strategic Plan: http://www.fcgov.com/business/pdf/final- economic-health-strategic-plan. pdf? 1343240783 RFP 7428 Urban Renewal Authority On -Call Financial Services Page 6 of 16 REVIEW AND ASSESSMENT CRITERIA Professional firms will be evaluated on the following criteria. These criteria will be the basis for review of the written proposals and optional interview session. At discretion of the City, interviews of top rated firms may be held. The rating scale shall be from 1 to 5, with 1 being a poor rating, 3 being an average rating, and 5 being an outstanding rating. WEIGHTING QUALIFICATION STANDARD FACTOR Does the proposal show an understanding of the 2.0 Scope of Proposal project objective, methodology to be used and results that are desired from the project? Do the persons who will be working on the project 2.0 Assigned Personnel have the necessary skills? Are sufficient people of the requisite skills assigned to the project? Can the work be completed in the necessary time? Can the target start and completion dates be met? 1.0 Availability Are other qualified personnel available to assist in meeting the project schedule if required? Is the project team available to attend meetings as required by the Scope of Work? 1.0 Motivation Is the firm interested and are they capable of doing the work in the required time frame? Do the proposed cost and work hours compare 2.0 Cost and favorably with the project Manager's estimate? Are Work Hours the work hours presented reasonable for the effort required in each project task or phase? Does the firm have the support capabilities the 2.0 Firm Capability assigned personnel require? Has the firm done previous projects of this type and scope? RFP 7428 Urban Renewal Authority On -Call Financial Services Page 7 of 16 REFERENCE EVALUATION CRITERIA(TOP RATED FIRM) The project Manager will check references using the following criteria. The evaluation rankings will be labeled Satisfactory/Unsatisfactory. QUALIFICATION STANDARD Overall Performance Would you hire this Professional again? Did they show the skills required by this project? Timetable Was the original Scope of Work completed within the specified time? Were interim deadlines met in a timely manner? Was the Professional responsive to client needs; did the Completeness Professional anticipate problems? Were problems solved quickly and effectively? Budget Was the original Scope of Work completed within the project budget. a) If a study, did it meet the Scope of Work? Job Knowledge b) If Professional administered a construction contract, was the project functional upon completion and did it operate properly? Were problems corrected quickly and effectively? RFP 7428 Urban Renewal Authority On -Call Financial Services Page 8 of 16 SAMPLE PROFESSIONAL SERVICES AGREEMENT (FOR REVIEW ONLY) PROFESSIONAL SERVICES AGREEMENT WORK ORDER TYPE THIS AGREEMENT made and entered into the day and year set forth below by and between THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as the "City" and WITNESSETH: hereinafter referred to as 'Professional'. In consideration of the mutual covenants and obligations herein expressed, it is agreed by and between the parties hereto as follows: 1. Scope of Services. The Professional agrees to provide services in accordance with any project Work Orders for , issued by the City. A blank sample of a work order is attached hereto as Exhibit "A", consisting of ( ) pages and is incorporated herein by this reference. The City reserves the right to independently bid any project rather than issuing a Work Order to the Professional for the same pursuant to this Agreement. 2. The Work Schedule. The services to be performed pursuant to this Agreement shall be performed in accordance with the Work Schedule stated on each Work Order. 3. Time of Commencement and Completion of Services. The services to be performed pursuant to this Agreement shall be initiated as specified on each Work Order. Time is of the essence. Any extensions of any time limit must be agreed upon in writing by the parties hereto. 4. Contract Period. [Option 1j This Agreement shall commence 20 and shall continue in full force and effect until , 20 , unless sooner terminated as herein provided. In addition, at the option of the City, the Agreement may be extended for additional one year periods not to exceed ( ) additional one year periods. Renewals and pricing changes shall be negotiated by and agreed to by both parties. The Denver Boulder Greeley CPIU published by the Colorado State Planning and Budget Office will RFP 7428 Urban Renewal Authority On -Call Financial Services Page 1 of 16