Loading...
HomeMy WebLinkAboutAGENDA REPORT 2005 0921 CC REG ITEM 10FrrEM 10. F. CITY OF MOORPARK, CALIFORNIA City Council Meeting aoo6- AC11ON: /-— a d3tdoa MOORPARK CITY COUNCIL AGENDA REPORT TO: Honorable City Council FROM: Hugh R. Riley, Assistant City Manager DATE: September 9, 2005 (City Council Meeting of 9/21/05) SUBJECT: Rescind Decision to Approve Professional Services with General Government Management Services as Special Tax Consultant Relating to the Formation, Financing and Annual Administration of Moorpark Highlands and Moorpark Vista Community Facilities Assessment Districts DISCUSSION On September 15, 2004 the City Council authorized the City Manager to enter into a Professional Services Agreement with General Government Management Services (GGMS) to provide services as a Special Tax Consultant in connection with the proposed Moorpark Highlands and Moorpark Vista Community Facilities Assessment Districts ( "the Districts "), Although GGMS completed some preliminary work on the Districts, the agreement was never finalized. It is typical for consulting work on proposed Community Facilities Districts to be performed by special tax consultants, bond underwriters, bond counsel and financial advisors with no guarantee the Districts will be formed or their services ultimately needed. The Special Tax Consultant establishes the Special Tax formula for the collection of the District payments allocates the costs among the parcels and prepares the maps for the Districts. The consultant will also provide annual administration services for the Districts. Staff obtained an alternate proposal for professional services from MuniFinancial, a firm qualified to serve as the City of Moorpark`s Special Tax Consultant for the formation, financing and annual administration of the Districts. The City Council approved an Agreement with MuniFinancial on September 7. Fees for these services are paid from the bond proceeds that finance the Districts. The attached professional service agreement with MuniFinancial provides a detailed scope of work as well as costs for each service. 000442 Honorable City Council September 21, 2005 Page 2 STAFF RECObMNDATION Rescind September 15, 2005 action to approve agreement for professional services with General Government Management Services. 000443