CCP 06-10-2014 - Laserfiche WebLink

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Of Report Number 14 -153 Agenda Section VI -15 the Vity drat works for you Council Meeting Date June 10, 2014 REQUEST FOR COUNCIL CONSIDERATION ITEM DESCRIPTION: Consideration of Agreement with Ehlers and Associates to prepare the 's Tax Increment F Annual Renortinu Forms for 2013. DEPARTMENT HEAD'S APPROVAL: " I rV CITY MANAGER'S APPROVAL: No comments to supplement this repor�',eO� Comments attached Recommendation: Approve the agr6dnent with Ehlers to prepare the City's annual TIF reports for 2013. Legislative History: Ehlers has been the City's Financial Advisor since 2009. Financial Impact: Ehlers has submitted a quote of $205 per hour to prepare the City's annual TIF reports. The City had 20 TIF Districts and 8 Pooled Debt issues at December 31, 2013. The estimated time to prepare each report is 6.5 hours. Ehlers also estimates one additional hour to publish the Annual Disclosure in the City's designated newspaper and submit the reports to the Office of The State Auditor (OSA). The total cost is estimated to be $37,515. All time billed for TIF reporting is considered to be an administrative expense which can be charged directly to the TIF Districts. Explanation: The City of New Brighton's Finance Department has always prepared the annual TIF reports since they were first required in 1995. The OSA requires them to be submitted on or before August 1, 2014. The Finance Department is shorthanded due to the retirement of the Finance Director and the FMLA absence of the Utility Billing Clerk. In order to ensure the reports are submitted by the August 1St due date, the Finance Department is requesting assistance from Ehlers. They have substantial knowledge of the City's TIF Districts due their preparation of the "Tax Increment Financing Districts Management Review and Analysis" reports they prepare for Community Development. Kevin Mannetter Interim Finance Director