Explanation
This ordinance authorizes the Director of the Department of Public Utilities to modify a contract with Bricker Graydon LLP for tax advisory services related to the Inflation Reduction Act (IRA).
This modification will add funding to continue the consultant’s services under the contract. These include but are not limited to review of project documents to confirm City project eligibility under the IRA investment tax credit, identification of qualified energy properties to be registered to maximize the investment tax credit, tax filing services, document compliance review, and more. Additionally, this modification will expand contract scope to include the Department of Finance and Management. There is a potential for IRA project eligibility beyond the Department of Public Utilities and therefore it is prudent to allow for advisory services to be utilized by the Department of Finance and Management.
PROCUREMENT:
The Department of Public Utilities (DPU) solicited competitive bids through the Vendor Services and Bonfire websites from October 24, 2023 to November 17, 2023 for tax advisory services in accordance with the relevant provisions of Chapter 329 of City Code (RFQ026167). Two (2) bids, by majority vendors, were received. The bids were deemed responsive and were evaluated on November 28, 2023. The committee recommended that Bricker Graydon LLP be awarded the contract. The committee determined their proposal was best because of their strong project team with well-defined project goals, the team’s broad expertise and experience, and their clear project strategy for taking advantage of the tax credit incentives.
The term of the contract is from date of execution until such time as the need for outside legal counsel concludes. Subsequent terms are contingent upon mutual agreement of the parties, certification of available funds by the City Auditor, and approval by City Council if such amount exceeds $20,000.00
This ordinance authorizes the ...
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