REQUEST FOR LEGISLATIVE ACTION
Description (e.g., Contract Authorization for Information Services):
title
Contract Authorization with CMA Capital Markets Advisors, LLC for American Recovery Plan Act Advisory Services
body
Date: 4/22/2022
Submitted By: Lucas Rogers
Department: County Executive
Title: Analyst
Phone: 518-447-5566
Department Rep.
Attending Meeting: Lucas Rogers/David Reilly
Purpose of Request:
☐ Adopting of Local Law
☐ Amendment of Prior Legislation
☐ Approval/Adoption of Plan/Procedure
☐ Bond Approval
☐ Budget Amendment
☒ Contract Authorization
☐ Countywide Services
☐ Environmental Impact/SEQR
☐ Home Rule Request
☐ Property Conveyance
☐ Other: (state if not listed) Click or tap here to enter text.
CONCERNING BUDGET AMENDMENTS
Increase/decrease category (choose all that apply):
☒ Contractual
☐ Equipment
☐ Fringe
☐ Personnel
☐ Personnel Non-Individual
☒ Revenue
Increase Account/Line No.: A9 8020 44046
Source of Funds: Federal Stimulus
Title Change: Click or tap here to enter text.
CONCERNING CONTRACT AUTHORIZATIONS
Type of Contract:
☐ Change Order/Contract Amendment
☐ Purchase (Equipment/Supplies)
☐ Lease (Equipment/Supplies)
☐ Requirements
☒ Professional Services
☐ Education/Training
☐ Grant
Choose an item.
Submission Date Deadline Click or tap to enter a date.
☐ Settlement of a Claim
☐ Release of Liability
☐ Other: (state if not listed) Click or tap here to enter text.
Contract Terms/Conditions:
Party (Name/address):
Capital Markets Advisors, LLC
11 Grace Avenue, Suite 308
Great Neck, NY 11021
Additional Parties (Names/addresses):
Click or tap here to enter text.
Amount/Raise Schedule/Fee: $180,000
Scope of Services: Click or tap here to enter text.
Bond Res. No.: Click or tap here to enter text.
Date of Adoption: Click or tap here to enter text.
CONCERNING ALL REQUESTS
Mandated Program/Service: Yes ☐ No ☒
If Mandated Cite Authority: Click or tap here to enter text.
Is there a Fiscal Impact: Yes ☒ No ☐
Anticipated in Current Budget: Yes ☐ No ☒
County Budget Accounts:
Revenue Account and Line: A9 8020 44046
Revenue Amount: $60,000
Appropriation Account and Line: A4 1340 04962
Appropriation Amount: $ 60,000
Source of Funding - (Percentages)
Federal: 100
State: Click or tap here to enter text.
County: Click or tap here to enter text.
Local: Click or tap here to enter text.
Term
Term: (Start and end date) 5/15/2022 - 4/14/2024
Length of Contract: Two Years
Impact on Pending Litigation Yes ☐ No ☒
If yes, explain: Click or tap here to enter text.
Previous requests for Identical or Similar Action:
Resolution/Law Number: Click or tap here to enter text.
Date of Adoption: Click or tap here to enter text.
Justification: (state briefly why legislative action is requested)
The County Executive, Legislature, and Comptroller are requesting authorization to enter into a contract with CMA Capital Markets Advisors, LLC for American Recovery Plan Act (ARPA) Advisory Services. In 2022 Albany County will receive a $29.6 million disbursement of American Recovery Plan Act State and Local Fiscal Recovery Funds that must be expended by December 31, 2026.
An RFP was issued for ARPA services including (1) Public Engagement; (2) Project Prioritization and Determination of Eligibility; (3) Plan Development; (4) Project Management and Compliance Support. Three strong bids were reviewed and graded by representatives from the Office of the County Executive, County Legislature, Office of Management and Budget, and Office of the Comptroller. Bidders were graded on cost, experience, and the strength of their proposal and CMA was selected based on those criteria. The selected consultant will work with County leadership and staff to determine the best ways to solicit stakeholder input, prioritize funding, and ensure timely and accurate reporting.