Title
MOTION TO ADOPT PROPOSED RESOLUTION NO. 2025-R-32.
PROPOSED RESOLUTION NO. 2025-R-32 IS A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF PEMBROKE PINES, FLORIDA, APPROVING THE FIRST AMENDED AGREEMENT WITH FORD & ASSOCIATES, INC., FOR MUNICIPAL ADVISORY SERVICES; AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. Ford & Associates, Inc. (the “Municipal Advisor”) and the City of Pembroke Pines (“City”) are parties to that certain Professional Services Agreement dated June 6, 2022 (the “Original Agreement”).
2. The Parties desire to enter into this First Amendment in order to alter the assignment clause and to add a section, based on current Florida law.
3. Administration recommends that the City Commission approve the First Amendment to the Original Agreement, and authorize the City Manager to execute the First Amendment.
4. The First Amendment to the Original Agreement is in the best interests of the health, safety, and welfare of the citizens and residents of the City of Pembroke Pines.
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Initial Cost: There is no cost related to the assignment of the contract. Costs are determined based on the size and type of the bond issue/financing, in accordance with the contract and is included as part of the amount borrowed. By Ordinance, the City Commission must authorize each bond issue/financing prior to being issued.
b) Amount budgeted for this item in Account No: Not Applicable
c) Source of funding for difference, if not fully budgeted: Not Applicable.
d) 5 year projection of the operational cost of the project Not Applicable.
e) Detail of additional staff requirements: Not Applicable
FEASIBILITY REVIEW:
A feasibility review is required for the award, renewal and/or expiration of all function sourcing contracts. This analysis is to determine the financial effectiveness of function sourcing services.
a) Was a Feasibility Review/Cost Analysis of Out-Sourcing vs. In-House Labor Conducted for this service? Not Applicable.
b) If Yes, what is the total cost or total savings of utilizing Out-Sourcing vs. In-House Labor for this service? Not Applicable.