Title
Affordable Housing Financial Advisory Services (Ordinance S-45562)
Description
Request to authorize the City Manager, or his designee, to enter into contracts with CSG Advisors Incorporated, Economic & Planning Systems, Inc., and Rounds Consulting Group, Inc. to provide financial advisory consulting in affordable housing development, redevelopment, and U.S. Department of Housing and Urban Development programs in various services related to the development of affordable housing and sustainability of housing programs for the Housing Department. Further request authorization for the City Controller to disburse all funds related to his item. There is no impact to the General Fund. Funds will come from federal grant resources.
Report
Summary
The Housing Department will use financial advisory services to evaluate how cities successfully create affordable housing, analyze and assess market conditions, formulate development strategies/tools and implementation plans, affordable housing program strategies and implementation plans, propose and/or create possible financing options and mechanisms, underwriting guidelines, provide developer insights, and create/assist in the creation of additional affordable housing units and/or commercial and retail uses in Phoenix.
Procurement Information
RFP FY19-086-06 Financial Advisory Services was conducted in accordance with Administrative Regulation 3.10. The solicitation was e-mailed to 545 vendors and posted on the City of Phoenix website. Three offers were received by the Housing Department on Feb. 14, 2019.
The proposals were scored by a three-member evaluation committee based on the following criteria: Service Methodology, Organizational Capacity, and Price (1,000 total points possible). The proposers and their scores are as follows:
CSG Advisors Incorporated: 785
Economic & Planning Systems, Inc.: 785
Rounds Consulting Group, Inc.: 740
Staff recommends that the offers from CSG Advisors Incorporated, Economic & Planning Systems, Inc., and Rounds Consulting Group, Inc., be accepted as the highest scored, responsive and responsible offers that are most advantageous to the City. Each of the three contractors offers varying areas of financial and economic expertise and will be utilized based on the individual needs of specific projects.
Contract Term
The contract terms will be for five years, beginning on or about June 1, 2019 and end on May 31, 2024.
Financial Impact
The aggregate contract value will not exceed $200,000 (including applicable taxes). There is no impact to the General Fund. Funds will come from federal grant resources.
Department
Responsible Department
This item is submitted by Deputy City Manager Mario Paniagua and the Housing Department.