REQUEST FOR LEGISLATIVE ACTION
Description (e.g., Contract Authorization for Information Services):
title
Request to extend Albany County’s contract with Capital Market Advisors (CMA) for one additional year of ARPA services
body
Date: November 12, 2024
Department: Management & Budget
Attending Meeting: Lucas Rogers
Submitted By: Kate Pauly
Title: Grants Specialist
Phone: 518-447-5566
Purpose of Request: Contract Authorization Enter text.
CONTRACT TERMS/CONDITIONS:
Party Names and Addresses:
Capital Market Advisors, LCC 11 Grace Avenue, Suite 308, Great Neck, NY 11021
Term: (Start/end date or duration) January 1, 2025-December 31, 2025
Amount/Raise Schedule/Fee: $54,000
BUDGET INFORMATION:
Is there a Fiscal Impact: Yes ☒ No ☐
Anticipated in Budget: Yes ☐ No ☒
Spreadsheet attached: Yes ☒ No ☐
Source of Funding - (Percentages)
Federal: 100% County: Enter text.
State: Enter text. Local: Enter text.
County Budget Accounts:
Revenue Account and Line: CM95001C.04089Z.ARP24
Revenue Amount: Enter text.
Appropriation Account and Line: CM95001C.44046Z
Appropriation Amount: Enter text.
ADDITIONAL INFORMATION:
Mandated Program/Service: Yes ☐ No ☒
If Mandated, Cite Authority: Enter text.
Request for Bids / Proposals:
Competitive Bidding Exempt: Yes ☐ No ☒
# of Response(s): Enter text.
# of MWBE: Enter text.
# of Veteran Business: Enter text.
Bond Resolution No.: Enter text.
Apprenticeship Program Yes ☐ No ☒
Previous requests for Identical or Similar Action:
Resolution/Law Number and Date: 2022-176, May 9, 2022; 2024-363, June 10, 2024
DESCRIPTION OF REQUEST: (state briefly why legislative action is requested)
Request to extend Albany County's contract with CMA for one additional year to administer services related to ARPA funding. This renewal comes at a lower rate than the previous contract, as in-house Albany County grants staff have taken on some of the original responsibilities. CMA is still needed to manage the ARPA portal utilized by sub-recipients and aid in the submission of the quarterly and annual Treasury performance reports.