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| Originating Department: Finance and Administrative Services |
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| Item Number: 4D | Meeting Date: 5/10/2016 |
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| City Reference Number (C#): C16110 |
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| Item Description:
A Resolution of the City of Sunrise, Florida, approving an agreement between the City of Sunrise and Government Services Group (GSG) for the development of assessment programs to fund the infrastructure improvements within the Metropica Improvement District (MID) and off-site improvements related to the development of the MID. |
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| Funding:
001-0000-115.12-00
When the Metropica Bonds are issued for development of the MID, the City will be reimbursed for all funds paid prior to issuance. |
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| Background:
In September 2014, an agreement was approved in accordance with Resolution 94-175-A enabling the City to contract with GSG for professional services in the amount of $23,500 for the purpose of developing assessment methodology related to the proposed Metropica Improvement District bond issuance. Due to the complexity of the project and changes made regarding development, construction, and financing, additional work is required to determine the assessment methodology appropriate for annual assessment revenue needed to pay the annual debt service. |
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| Department Head Recommendation:
Approval |
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| Person With Additional Information: | | | Name: Wendy Dunbar | Phone: 954-746-3297 |
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| Department Head Name and Title:
Wendy Dunbar, Director of Finance and Administrative Services
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| City Manager:
Authorized for agenda placement |
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