CR 91-259 Extension Contract Westrbooke NeighborhoodNovember 12, 1991
Supporting Information
Council Report 91 -259
EXTENSION OF CONTRACT WITH SPRINGSTED INCORPORATED REGARDING
WESTBROOKE NEIGHBORHOOD
Proposed Action
Staff recommends adoption of the following motion: Move to
authorize the City Manager and Mayor to extend the current
contract with Springsted Incorporated for a period of 60
days from the receipt of the requested information, but not
to exceed 90 days from the original contract expiration
date.
Adoption of this motion will allow the City Manager and the
Mayor to execute an extension to the original contract with
Springsted to conduct a rehabilitation financing analysis of
the Westbrooke neighborhood.
Overview
In August, the City entered into a contract with Springsted
Incorporated to conduct a Rehabilitation Financing Analysis
for the Westbrooke neighborhood. The original contract
called for the study to be completed within 90 days.
On August 21, 1991 the initial project meeting was held at
which time Springsted requested several items from the
managers of the Westbrooke associations, including budgets,
Bylaws and Articles of Incorporation. As of November 4,
1991 Springsted had not received any of the information
initially requested.
As a result, they are now requesting an extension to the
contract, allowing them an additional 60 days from the time
they receive the requested information to complete the
study. Staff is recommending that the extension is granted,
however, with the additional language "but not to exceed 90
days from the original contract expiration date ". This is
to encourage Springsted to obtain the requested information
from the associations.
Primary Issues to Consider
o Is the extension necessary?
o Have the associations indicated when the requested
information will be forwarded?
Let • Springsted Incorporated A %Ole/ .r A6Li‘i
Ke (sten - E1v - um, Housing Coordinator
Page 2
Council Report 91 -259
Springsted Study
Primary Issues to Consider
The City Council has the following issues to consider:
o Is the extension necessary?
At this time, Springsted's analysis of the financing options
is incomplete. Springsted feels that it is mandatory to
receive the requested information in order to proceed with
the analysis. If an extension is not granted the end
product will most likely be of little value to the
associations or to the City.
o Have the associations indicated when the requested
information will be forwarded?
Since requesting the extension, two of the three managers
have forwarded the required information to Springsted. The
third has indicated that it will be sent within one week.
Alternatives
The City Council has the following alternatives:
o Approve extension as recommended by staff.
o Deny request for contract extension.
o Table item for further consideration.
16655 West Biuemound Road
Suite 290
Brookfield, WI 53005 -5935
(414) 782 -8222
Fax: (414) 782 -2904
2739 Second Avenue S.E.
Cedar Rapids, IA 52403 -1434
(319) 363 -2221
Fax: (319) 363 -6999
November 4, 1991
Dear Kersten:
Ms. Kersten Elverum, Housing Coordinator
City of Hopkins
1010 First Street South
Hopkins, MN 55343
sms /Minneapolis Office
cc: Ms. Kathleen Aho, Springsted
Enclosures
SPRINGSTED
PUBLIC FINANCE ADVISORS
85 East Seventh Place
Suite 100
Saint Paul, MN 55101 -2143
(612) 223 -3000
Fax: (612) 223 -3002
6800 College Boulevard
Suite 600
Overland Park, KS 66211-1533
(913) 345 -8062
Fax: (913) 345 -1770
222 South Ninth Street
Suite 2825
Minneapolis, MN 55402 -3368
(612) 333 -9177
Fax: (612) 333 -2363
As a follow -up to our recent phone conversation regarding the status of the Westbrooke
Rehabilitation Financing Analysis, I have enclosed copies of letters sent to the property
managers for the various Westbrooke Homeowners Associations. I hope this written
notification will help expedite the process.
1 would also like to request at this time that, due to the delays in receiving information, the City
extend the time frame for the analysis. Our proposal indicated that we would complete our
analysis within 90 days of contract execution. We would like to revise that time frame to within
60 days of receipt of all Westbrooke Condominium Budgets, Bylaws and Articles of
Incorporation.
Please let me know if this request is acceptable to you. 1 will keep you informed of our
progress in receiving the information.
Sincerely,
Rebecca D. Yanisch
Vice President