|For a period of approximately 45 days, IFA desires to increase the volume and scope of work and price to be commensurate with scope. IFA initially had two vendors performing the task of Senior Financial Advisor. Other vendor contract ended 9/30/09 and also ceased doing business. IFA intends to procure new vendors via new solicitation by 12/31/09.|
This procurement is time-sensitive and critical to the mission of the agency as the financial advisor provides the Member of the Board with detailed information about future and existing projects to be considered for approval at the November and December Board meetings. Until additional Financial Advisors can be secured, through a new solicitation, which has been approved by CMS and is awaiting GOMB approval, the current vendor can readily assume the large volume of work and projects that require the attention of a Senior Financial Advisor. These changes are germane to the current contract and reasonable in scope and cost in relation to the original contract. This is an extension through 12/31/09 to include time, scope and value.
Vendor currently responsible for: Healthcare, Energy, Housing, Cultural & Social Services in addition to special projects.
For amendment, vendor will assume the following projects: review agendas and credit sessions, financial advisor services for review for the following projects: participation loans and project restructuring, local government bond and loan issues including the anticipated November, 2009 local government bond pool, agricultural guarantees and all non-healthcare 501(c)(3) conduit bonds and leases.
The old contract amount was for $124,000. Additional amount for $30,000. IFA currently has an average of 7 projects for review each month.