Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Executive
Robert Manchia, Chief Financial Officer
Subject: Amendment to the County’s Agreement with KeyAnalytics
RECOMMENDATION:
title
Adopt a resolution authorizing an amendment to the agreement with KeyAnalytics, to provide cumulative financial tracking and recording of Parking Structure 2, Cordilleras Mental Health Facility, County Office Building 3 and SMMC Master Plan Campus Renovation for an amount not to exceed $141,833.97.
body
BACKGROUND:
This Board and the County of San Mateo Joint Powers Authority (the Authority) have authorized the issuance of lease revenue bonds for financing of construction on major County facilities. KeyAnalytics (previously known as California Financial Services, CFS) has been a key strategic financial advisor and partner to the County and the Authority in the issuance of the multiple financings.
DISCUSSION:
The issuance of financings for major capital construction requires unique financial advisory and record keeping expertise. KeyAnalytics is assisting the County of San Mateo in major capital construction financing matters associated to the record keeping and compliance reporting for the terms of the current financings. The current projects are, although not limited to: Parking Structure 2, County Office Building 3, SMMC Master Plan Campus Renovation, and Cordilleras Mental Health facility.
FISCAL IMPACT:
The amendment adds $141,833.97 to the existing agreement a total agreement obligation of $541,833.97. The additional $141,833.97 is budgeted in each of the respective project bond financings.