Amendment No 2 to PSA - Implement CDFI Friendly South Bend Contract Board and Additional Program Management - MPinsky, LLC dba Five Four Advisors

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Re: CDFI Friendly South Bend Implementation Stage Proposed Scope of Work To: Kacey Gergely, Chief of Staff to Mayor James Mueller, City of South Bend Denise Riedl, Chief Innovation Officer Brian Donoghue, Director of Civic Innovation From: Mark Pinsky & Adina Abramowitz, CDFI Friendly America January 9, 2019 Kacey, Denise & Brian, The purpose of this memo is to recommend an updated Scope of Work with which to extend the contract originally signed November 13, 2018, between the City of South Bend's Board of Public Works and Five/Four Advisors. The proposed scope of work presented below would serve as Exhibit A to the contract extension. INTRODUCTION Thank you for the opportunity to offer ongoing consulting services to CDFI Friendly South Bend (CFSB) in 2020. To continue the positive momentum on this project under the amended agreement between the City of South Bend and MPinsky LLC d/b/a Five/Four Advisors, we recommend a six-month implementation stage of consulting to include all the necessary steps to establish and make operational the independent nonprofit corporation, form the initial Board of Directors, seek and receive funding commitments, initial branding and marketing, and hiring of the permanent Executive Director. Throughout this timeframe, we will also manage CFSB and make appropriate matches between those in COSB seeking non -conforming capital and those who can provide it, particularly but not only CDFls, banks, and credit unions. MPinsky LLC is continuing its work on CDFI Friendly strategies through a new entity, CDFI Friendly America LLC, a partnership between MPinsky LLC and Adina Abramowitz. In addition, to further the purposes of CFSB by making its implementation clearly independent of the COSB, as planned, Sonja Karnovsky will leave her post at COSB and join CDFI Friendly America LLC to serve as Interim Executive Director of CFSB. In that role she will manage the day-to-day work to stand up the company including but not limited to making matches between capital supply and demand. When the Board of Directors of CFSB hires a full-time Executive Director and determines it no longer requires an interim Executive Director, Sonja will step down as Interim Director. Mark will be the principal lead on the fundraising, marketing and communications efforts. Adina will lead the efforts to form and assist the initial Board of Directors, and the hiring effort for the initial Executive Director. Sonja will manage day-to-day operations, staff the Board of Directors, and provide continuity in strategy. We assume that responsibility for this contract will transfer from the City of South Bend to the new entity when it is chartered, formed, and funded with remaining funds from the City and other sources.