Title
Recommendation to Authorize the City Manager to Execute a Five-Year Agreement with NBS Government Finance Group, Inc. for Administration Services of Alameda's Non-Bonded Special Financing Districts for an Amount Not-to-Exceed $285,951. (Public Works 27641530)
Body
To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
The City of Alameda (City) has several types of special financing districts: Island City Landscape & Lighting District (LLD) 84-2, Marina Cove Maintenance Assessment District (MAD) 01-01, and several non-bonded Community Facilities Districts (CFDs). The City utilizes a financial consulting firm for various administrative and levy collection support services for these districts, which is a necessary administrative function to continue to levy these assessments and taxes. Staff recently completed a solicitation for a new, five-year agreement for these services. The scope of work includes preparation and presentation of the Engineer's Reports for the LLD and MAD, and submittal of the property owner levy for the special districts. As a result of the competitive solicitation, staff recommends a new five-year agreement with NBS Government Finance Group (NBS).
BACKGROUND
Special assessment districts are a funding mechanism under the California Streets and Highway Code that fund improvements such as landscape and maintenance. Special benefit districts are additional funding mechanisms that provide local governments with flexile funding alternatives. The City has several types of special districts: Non-bonded assessment districts (Island City Landscape and Lighting District LLD 84-2 and Maintenance Assessment Districts MAD 01-01), and Community Facilities Districts which are special tax districts (CFD 03-01/Bayport Municipal Services district, CFD 13-2/Alameda Landing Municipal Services District, CFD 14-1/Marina Cove II, and CFD 17-1/Alameda Point Municipal Services District).
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