HomeMy WebLinkAboutContract 51128 CITY SECRETARY
CONTRACT W. rJ I a g
Agreement for Impact DashBoard Model
This agreement (the "Agreement") is made between Impact DataSource, LLC,
4709 Cap Rock Drive, Austin, Texas 78735, (the "Consultant") and the City of Fort
Worth (the "Client"), 200 Texas Street, Fort Worth, TX 76102, to prepare and
provide access to an economic impact model to the Client.
Purpose of this Agreement
The purpose of this Agreement is to state the terms and conditions, under which
the Consultant will prepare and provide access to an economic and fiscal impact
computer model, to the Client.
Computer Model and Related Services to be Provided
The Consultant will prepare and provide a custom Impact DashBoard T" economic
and fiscal impact analysis computer model for use by the Client. Access to the
model, a customized web-based application, will be provided to the Client for
one year and be renewable for unlimited one-year periods.
The model will be designed to project the economic and fiscal impact of
economic development and other projects for which the Client must respond
with incentive proposals and for other projects.
Tax rates and other community information for the community will be collected
and loaded into the model, along with RIMS II multipliers. The model will include
RIMS II regional indirect multipliers so that indirect jobs and earnings may be
automatically calculated for each prospect firm or project based on the firm's
NAICS.
After entering some information about a firm or project, such as the firm's
investment, the number of workers, average salaries, and other inputs, the model
will produce a DashBoard summary and a detailed report showing the results of
the impact analysis.
OFFICIAL RECORD
RECEIVED CITY SECRETARY
AUG 2 12018 FT.WORTH TX
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Economic Impacts
The model will produce a report showing the direct and indirect economic impact
of a firm or project for a ten-year period, including:
• Number of new direct and indirect jobs created in the community,
• Salaries paid to these workers,
• Number of new workers who move to the community
• Number of new residents,
• Number of new school students, and
• Additional taxable sales in the community.
Fiscal Impacts
Further, these economic impacts will be translated in a report into annual
revenues over a ten-year period for the city, county, school district, and other
local taxing districts including the following:
• Sales taxes,
• Property tax on new residential property and commercial property added
on local tax rolls,
• Utilities,
• Utility franchise fees,
• Other taxes and user fees.
In addition, costs for applicable local districts from the prospective firm and its
workers will be calculated, including infrastructure costs or the costs of providing
public services, if any, to new residents and the firm.
With these costs and benefits, the net benefits over ten years will be calculated
for the prospective firm or economic development project.
Other Services
Impact DataSource will prepare and provide data sheets for the Client to collect
information from a prospect firm or project.
The model will calculate property taxes that may be abated and rates of return on
investment along with payback period for other incentives being considered by
the Client. Plus, the model will also allow the Client to do what-if scenarios on
possible levels of incentives that may be offered to prospect firms.
2 :'e : IMPACT
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The Consultant will provide unlimited training on using the model in
GoToMeeting sessions.
The Consultant will also provide unlimited technical assistance by phone or email,
as the Client uses the model during the subscription year so that the Client can
produce reports to assess the economic impact of a firm or project and to make
informed decisions on incentives to offer a firm or project.
Completion Date
The Consultant will complete and provide the impact analysis model within three
(3) weeks of the time that the Consultant receives approval from the Client to
prepare the model.
Confidentiality
The Consultant will keep confidential economic and other data obtained from the
Client to develop the model, as well as information on other economic
development projects that may be reasonably considered confidential by the
Client.
The Client's Responsibility
The Client will provide information and assistance, as needed, for the Consultant
to develop the model or put the Consultant in touch with appropriate local
government departments to obtain data needed for the model.
Compensation
The Consultant requires compensation of $7,500 to prepare and provide the
economic impact analysis model to the Client and subscription agreement for the
Client to use the model for one year from the date that a finished model is
provided for use to the Client.
The model's subscription agreement may be renewed for unlimited additional
years, with an annual subscription fee of $7,500 for the initial year increased by
5%.
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An invoice for preparing the economic impact analysis model will be submitted
to the Corporation at the time that the completed model is provided to the
Corporation. Payment for the invoice will be mailed within three weeks to:
Impact DataSource, LLC
4709 Cap Rock Drive
Austin, Texas 78735
Additional Services
The Consultant will be available for on-site consulting, board and city council
presentations and in-person training, for an additional fee of $500 per day plus
travel expenses.
The Client can request to have the Consultant review a Client-prepared analysis in
detail to certify that it conforms to impact modeling convention and appears
reasonable in their estimation, for an additional fee of $250. Pending review and
agreement, the Consultant will assign an "Economist Reviewed" badge to the
report so that the report clearly states the project was reviewed by Impact
DataSource for reasonableness.
The Client can request that the Consultant compile an Economic Development
Organization Performance Report that summarizes the combined impact of
multiple projects over a year, for an additional fee. As of 2016, the fee is $3,000.
EDO Performance Reports that summarize the combined impact of multiple
projects over multiple years can be provided for a larger fee, to be determined by
the time period and project count.
Terms of this Agreement
The term of this Agreement shall commence upon its signing and continue in
effect as long as the Consultant's subscription agreement with the Client for
using the model is in force.
Governing Law, Entirety of Agreement, and Partial Invalidity
The laws of the State of Texas shall govern this Agreement and any disputes
regarding this Agreement will be settled in Travis County, Texas. The Agreement
constitutes the entire Agreement between the parties regarding its subject
matter. If any provision in this Agreement is held by any court to be invalid, or
unenforceable, the remaining provisions shall nevertheless continue in full force.
4 : IMPACT
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Texas Department of Public Safety,Memorandum of Understanding
Texas Statewide Interoperability Channel Plan
Contract Compliance Manager:
By signing I acknowledge that I am the person responsible
for the monitoring and administration of this contract, including
ensuring all performance and reporting requirements.
'56-
Steve Streiffert
Assistant Director, IT Solutions Department
Submission of this Agreement
Impact DataSource, LLC submits this agreement to complete an economic and
fiscal impact analysis of the Client's Facilities. Acceptance of this agreement by
the Client forms a contract under which both parties to this agreement must
perform.
Submitted: Accepted:
Impact DataSource, LLC City of Fort Worth
J? __-
Paul Scheuren, Principal S Alanis
200 Texas Street,
Fort Worth, TX 76102
August 10, 2018
Contact information:
Paul Scheuren
Impact DataSource
4709 Cap Rock Drive APPROVED S TO FORM AND LEGALITY:
Austin, Texas 78735
512.524.0892
Fax 512.892.2569 AITYAORN th
paul@impactdatasource.com
www.im actdatasource.c SRT
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Attested by: `'' _ OFFICIAL RECORD
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* ' * CITY SECRETARY
FT.WORTH,TIC
Mary i , Secre
3. IMPACT
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1295: `''
Texas Department of Public Safety,Memorandum of Understanding
Texas Statewide Interoperability Channel Plan
Contract Compliance Manager:
By signing I acknowledge that I am the person responsible
for the monitoring and administration of this contract, including
ensuring all performance and reporting requirements.
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teve Streiffert
Assistant Director, IT Solutions Department