Title
Approving and Authorizing the Execution of Municipal Advisory Services Agreements with the Financial Service Firms of Baker Tilly, Ehlers, and PFM Financial Advisors LLC, Citywide.
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") is a public body corporate and politic established pursuant to the provisions of Minnesota Statutes, Section 469.001, et seq. (the “Act”); and
WHEREAS, the HRA has the power to engage in development or redevelopment activities under Minnesota law and the HRA is authorized to engage in activities relating to (a) housing projects and development, (b) removal and prevention of the spread of conditions of blight or deterioration, (c) bringing substandard buildings and improvements into compliance with public standards, (d) disposition of land for private redevelopment, and (e) improving the tax base and the financial stability of the community, and to engage in the aforementioned activities when these needs cannot be met through reliance solely upon private initiative and which can also be undertaken in targeted neighborhoods; and is authorized to create redevelopment projects as defined in Minn Stat Section 469.002, Subd. 14; and
WHEREAS, Baker Tilly (formerly Springsted, Inc.), Ehlers and PFM Financial Advisors LLC each currently provide financial advisory services for the HRA under a joint contract between the HRA and the City of Saint Paul (the “City”), for development and redevelopment activities, and each of these contracts expires at the end of the year; and
WHEREAS, the City and HRA, along with the Port Authority, jointly issued a Request for Proposals (RFP) for Municipal Advisory Services concerning the provision of services related to financial planning, capital budgeting, debt issuances, economic development financial services and other related services; and
WHEREAS, the HRA has utilized financial advisory services primarily for consulting services tied t...
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