Board delays decision on hiring Cruz and Associates for financial modeling, asks for presentation in January
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Summary
The director recommended entering an agreement with Cruz and Associates for a financial master plan and annual advisory services; board members asked for more background and asked that RT Taylor from Cruz present qualifications at the January meeting before any award is made.
Director (Speaker 4) presented a proposal from Cruz and Associates to update the authority's financial model and provide financial advisory services. The director said Cruz offered an annual retainer alternative and that RT Taylor would be the contact on the account.
Several board members said they were uncomfortable making a decision without additional information about Cruz, given the authority's existing relationship with Davenport. "I'm just not comfortable making a decision like this today," Speaker 6 said, asking for a qualifications package and a presentation. Speaker 8 suggested the board include background on the firm's years in business, team composition and the specific staff who would work with the authority.
Speaker 4 agreed to invite RT Taylor and bring a qualifications package to the January meeting and the board tabled the award decision. No contract was signed at the Dec. 2 meeting.
Next steps: Staff will request a qualifications package from Cruz and Associates, schedule RT Taylor to present at the January board meeting and return the item for formal consideration.