Title
Value Line Publishing - Requirements Contract - EXC 22-005 (Ordinance S-47840)
Description
Request to authorize the City Manager, or his designee, to enter into a contract with Value Line Publishing, LLC to provide access to Value Line's Research Center, an on-line database that Library patrons can use to search for information about stocks, mutual funds, options and convertibles for the Phoenix Public Library. Further request authorization for the City Controller to disburse all funds related to this item. The aggregate contract value will not exceed $110,000.
Report
Summary
The Phoenix Public Library has Value Line in print format at a few libraries and would like to expand its offerings to include this on-line database, Value Line's Library Research Center, which will be available to all customers with a library card from any computer or mobile device. The Library Research Center gives access to stocks (approximately 1,700 large and 1,700 small and mid-cap company reports), mutual funds, exchange traded funds, and options - all utilizing their proprietary Ranking System for Timeliness, Performance, and Safety. The Library Research Center streamlines company information and its financial data so users can quickly make an evaluation.
Procurement Information
In accordance with Administrative Regulation 3.10, normal competition was waived as a result of an approved Determination Memo which stated that Value Line Publishing, LLC is the sole developer and authorized source of the Value Line Research Investment Survey, Small/Mid Cap Survey, and other digital investment information services. The database is not available through any other company. The subscription service is necessary for the Phoenix Public Library to offer current and accurate materials and services on investing to Library customers in a timely and cost-efficient manner. The on-line subscription service will expand the Library's offerings, provide the service in real time, save money over providing the same information in printed format by reducing Library staff handling labor, and eliminate the need to discard out-of-date printed materials.
The Assistant Finance Director recommends that the contract with Value Line Publishing, LLC be accepted.
Contract Term
The five-year contract term will begin on or about Sept. 15, 2021.
Financial Impact
The aggregate contract value will not exceed $110,000, and funds are available in the Library Department's budget.
Department
Responsible Department
This item is submitted by Deputy City Manager Inger Erickson and the Library Department.