Title
Financial Modeling for Transit and Transportation
Action
Action:
A. Authorize the City Manager to negotiate and execute a contract with InfraStrategies, LLC for funding and financial modeling for transportation services for an initial term of three years, and
B. Authorize the City Manager to renew the contract for one, three-year term with possible price adjustments and to amend the contract consistent with the purpose for which the contract was approved.
Body
Staff Resource(s):
Liz Babson, City Manager's Office
Brent Cagle, CATS
Explanation
* As part of advancing the mobility priority, the City of Charlotte will continue to have a need to utilize strategic funding and financing modeling services.
* InfraStrategies LLC, has supported the city with strategic funding and financing modeling services since 2021.
* Their services include:
* Updating capital and operating cost estimates for transit and/or transportation programs,
* Testing various program definitions,
* Testing and adjusting program scenarios, prioritization, and phasing,
* Updating factors such as revenue growth rates, cost escalation, financing strategies, and
* Incorporating new or adjusted federal financing mechanisms, updating funding formulas and other funding opportunities into mobility program assumptions.
* Additional work items under this contract may include supporting a Metropolitan Transportation Plan update and for future transit projects, with strategic modeling, related engagement, and financial planning, as well as other transit and transportation planning processes.
* Waiver of a competitive solicitation process for services may be granted on a limited basis when deemed appropriate and in the city's best interest.
* A waiver has been approved for these services based on continuity of service, unique experience and understanding of Federal Transit Administration requirements as well as the city organization, and the vendor's experience and understanding of the local fun...
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