HomeMy WebLinkAbout5C1 Professional Services Budget Increase (Baker Tilly)CITY OF SOUTHBEND
REDEVELOPMENT COMMISSION
Redevelopment Commission Agenda Item
DATE: January 24, 2019
FROM: David Relos, Property Development Manager
SUBJECT: Professional Services Budget Increase (Baker Tilly)
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST:
On January 24 2019, a professional services agreement with Baker Tilly (formerly Umbaugh &
Associates) was approved to provide analytical services for the proposed TIF Adjustment. These
services included analyzing the assessed value and financial impact of the adjustment.
The analysis included the effects on tax rates, circuit breaker tax credits, projected income with
tax abatement roll off and new projects coming on line, as well as the preparation of an Impact
Statement, analyzing effects on overlapping taxing units, plus attending various meetings and
public hearings.
This analysis was well underway when the Auditor's office updated assessed values for 2019 pay
2020, thereby causing Baker Tilly to have to recalculate their analysis.
Staff requests approval of a $9,000 budget increase to the original $30,000 professional services
agreement.
INTERNAL USE ONLY: Project Code: JOTHER
Total Amount new/change (inc/dec) in budget: ; Breakdown:
Costs: Engineering Amt: ; Other Prof Sery Amt: Fund 324: $4,500, Fund 429: $2,250; Fund 430: $2,250
Acquisition of Land/Bldg (circle one) Amt: ;Street Const Amt ;
Building Imp Amt ; Sewers Amt ; Other (specify) Amt:
Going to BPW for Contracting? N
Is this item ready to encumber now? —Yes_ Existing PO# 250038_ Inc/Dec $_9,000
EXCELLENCE ACCOUNTABILITY! INNOVATION i INCLUSION EMPOWERMENT
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