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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PROPOSED SCOPE OF SERVICES FOR CONTRACT EXTENSION The proposed draft language for Exhibit A is consistent in approach and specificity with the language the COSB used in prior contracts with Five/Four Advisors. EXHIBIT A Scope of Services 1. Continue to assist with implementation of the City's strategy to leverage external community development financing based on the business plan Five/Four Advisors completed in December for the COSB, including: - Managing the formation of the legal entity to be known initially as CDFI Friendly South Bend (subject to the approval of the Board of Directors of the entity), - Ensuring the transition from public (City) management of the process to private operations as a 501.c.3 nonprofit corporation governed by an independent Board of Directors, - Forming, recruiting and advising the initial Board of Directors based on community input and a matrix of desired skills and representations, - Assisting in raising operational funding and investment capital as recommended in the business plan, - Leading communications, marketing, and branding during the implementation phase, - Hiring a permanent, full-time Executive Director, and - Matching demand for CDFI and other forms of financing in South Bend to providers of appropriate, affordable financing from CDFI and other sources outside and within South Bend. 2. Provide technical assistance to ensure that implementation is consonant with knowledge gained during earlier phases of the CDFI Friendly South Bend work and in line with the priorities and goals identified by participated in that process. BACKGROUND TO SCHEDULE A To ensure mutual agreement and understanding, we want to provide specific information about the work described in the proposed Exhibit A. In addition, we are providing a Gantt chart detailing the workplan and timeline. We envision seven interrelated components to the implementation stage of this project: I. Legal Formation Working with the City Attorney, we will create and file the paperwork necessary to form a private sector corporate entity, thus separating CFSB from the City of South Bend. We will draft Articles of Incorporation and proposed Bylaws for Board review, refinement and approval. We will begin the process of applying for nonprofit 501c3 status. Lead: Sonja; Secondary: Adina Timeframe: January to March 2020 and any necessary follow up on 501c3 application 2 1 l a a , t y