SUBJECT/RECOMMENDATION:
Title
Award an agreement to Public Resources Advisory Group, Inc, for Financial Advisory services through September 30, 2027, in accordance with Clearwater Code of Ordinances Section 2.563(1)(c), Piggyback, and authorize the appropriate officials to execute same. (consent)
Body
SUMMARY:
The current agreement with Public Resources Advisory Group (PRAG) was awarded in February 2019 per a competitive RFP process and expires February 18, 2024.
Staff is requesting permission to piggy-back off of a Hillsborough County RFP process that was completed in September 2022, to contract with PRAG for financial advisory services through September 30, 2027.
PRAG has been consistently ranked as one of the top financial advisory firms in the nation for the past two decades. They have a very strong local Florida team that has consistently exceeded expectations with the quality and timeliness of services provided to the City.
The City’s financial advisor primarily assists with debt issuances and the cost of those services will be paid from the proceeds of the financing.
APPROPRIATION CODE AND AMOUNT:
Financial advisor costs will be paid from proceeds of future bond issuances.
STRATEGIC PRIORITY:
Strategic Priority: 1.3 Adopt responsive levels of service for public facilities and amenities, and identify resources required to sustain that level of service.
