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Res 2021-117/approving an agreement with P3Works, LLC for Public Improvement District administration services in connection with Whisper South Public Improvement District; authorizing the City Manager or his designee to execute the said agreement
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Res 2021-117/approving an agreement with P3Works, LLC for Public Improvement District administration services in connection with Whisper South Public Improvement District; authorizing the City Manager or his designee to execute the said agreement
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10/22/2021 1:43:27 PM
Creation date
7/28/2021 3:48:31 PM
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City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
2021-117
Date
7/6/2021
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EXHIBIT A <br />SERVICES TO BE PROVIDED <br /> <br />PID FORMATION, SERVICE AND ASSESSMENT PLAN PREPARATION, AND BOND <br />ISSUANCE SUPPORT SERVICES <br /> <br /> <br /> <br />4¨³«¤ (®´±«¸ 2 ³¤ <br />- ¦¨¦ Partner $250 <br />6¨¢¤ 0±¤²¨£¤³ $185 <br />3¤¨®± !²²®¢¨ ³¤ $160 <br />Associate $135 <br />Administrative $75 <br /> annually to reflect increased costs of labor and/or <br />adding/reclassifying titles. Travel times will be billed at hourly rates. <br /> <br />District Due Diligence and Preparation of PID Plan of Finance <br />1. P3Works will review project information and prepare a plan of finance for the proposed <br />transaction, including <br />2. Assessed value schedules, value to lien analysis, and overall structuring to achieve City goals and <br />objectives <br />3. Identify areas of risk and solutions to mitigate the risks, <br />4. Bond sizing and bond phasing by improvement area, <br />5. Sources and uses of funds by improvement area, <br />6. Debt service schedules, and; <br />7. Assessment allocation and associated estimated annual installment by lot type for each <br />improvement area. <br /> <br />Preparation of Service and Assessment Plan <br />1. P3Works will prepare a complete and final Service and Assessment Plan to be adopted by City <br />Council and included in the Official Statement for the Bonds based on the Plan of Finance. <br />2. P3Works will present the Service and Assessment Plan to City Council and request approval of <br />Assessment Roll. <br /> <br />Bond Issuance Support <br />1. P3Works will ensure bond documents, including the PID financing agreement, bond indenture, <br />and official statement are all consistent with the Service and Assessment Plan. <br />2. P3Works will provide ad-hoc analysis as requested by the underwriter in preparation of the <br />preliminary official statement. <br /> <br />Participation in Presentations to City Council or other Public Forums <br />1. P3Works will prepare and present information as requested to the City Council or any other <br />public forum. <br /> <br /> <br />Version 05.18.2021 5 <br /> <br /> <br />
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