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South Bend Redevelopment Commission <br />Regular Meeting –February 5, 2010 <br /> <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />I. Other <br /> <br />(2) Master Service Agreement with Crowe <br />Horwath. (Accounting, Financial and <br />Other Consulting Assistance) <br /> <br />Mr. Inks noted in the past we have individual <br />service agreements with Crowe. This year <br />we expect to contract with Crowe numerous <br />times and have decided that a Master Service <br />Agreement would be appropriate. The <br />proposed Master Service Agreement will <br />provide for accounting, financial and other <br />consulting assistance. Accounting assistance <br />is not to exceed $15,000. Financial advisory <br />services relate to debt financing and will <br />typically not exceed $40,000 per issuance. <br />Other consulting assistance is not to exceed <br />$45,000 and may include items such as TIF <br />Neutralization Worksheets, New Market Tax <br />Credits and analysis of TIF parcels in various <br />TIF areas. <br /> <br />In a typical year, we have Crowe do the TIF <br />Neutralization Worksheets. Occasionally we <br />may have Crowe do some TIF parcel analysis <br />or work on a bond issue. These projects have <br />always been done, as needed, under a <br />specific project proposal. <br /> <br />This year we anticipate we may have several <br />projects requiring services from Crowe and <br />believe a Master Service Agreement would <br />be appropriate. In addition to the projects <br />noted above, we may also need assistance <br />with Recovery Zone Economic Development <br />Bonds and Recovery Zone Facility Bonds. <br />Related to the Erskine Commons and Erskine <br />Village developments, we may need <br />assistance paying down bonds prior to <br /> 26 <br /> <br />