HomeMy WebLinkAboutContract 55012 CSC No. 55012
PROFESSIONAL SERVICES AGREEMENT—PROPERTY TAX ANALYSIS AND
FORECASTING
This PROFESSIONAL SERVICES AGREEMENT("Agreement")is made and entered into by
and between the CITY OF FORT WORTH ("City"), a home rule municipal corporation of the State of
Texas, acting by and through its duly authorized Deputy City Manager, and Dearmon Analytics LLC
("Vendor"),an Oklahoma limited liability company,acting by and through its Governing Person. City and
Vendor may each be individually referred to as a"party"and collectively referred to as the"parties."
WHEREAS,City has received funding through the Coronavirus Relief Fund("CARES Funds"),
Title V of the Coronavirus Aid,Relief,and Economic Security Act("CARES Act"), to pay for necessary
expenditures that are incurred due to the public health emergency posed by the COVID-19 pandemic and
that meet eligibility criteria; and
WHEREAS,closings and other restrictions enacted in an attempt to curtail the spread of the virus
cause direct economic impacts to those businesses and facilities that are subject to restrictions and indirect
impacts to other businesses and individuals associated with the restricted businesses and facilities, such as
suppliers,customers,and employees; and
WHEREAS,these ongoing negative economic impacts have already affected the City's sales tax
revenues and are anticipated to impact property values and associated tax revenue in the both near and
intermediate term; and
WHEREAS, because the COVID-caused economic impacts are not typical or routine in nature,
the City's traditional economic forecasting models for revenues and expenditures cannot be relied upon for
estimating the financial repercussions of the pandemic; and
WHEREAS, accurate projections are critical to ensuring the City complies with Texas
constitutional requirements while providing necessary services to its citizens; and
WHEREAS, the City finds that forecasting COVID-19's projected impacts is a necessary
expenditure caused by and needed to respond to the current wave of the COVID-19 pandemic; and
WHEREAS,this necessary cost will be incurred between March 1 and December 30,2020; and
WHEREAS,funds for this cost were not included in the City's most recently adopted budget as of
the date on which the CARES Act was enacted; and
WHEREAS, Vendor possesses the necessary training and skills to perform the professional
services associated with the proposed analysis and forecasting; and
WHEREAS,the parties wish to enter into this Agreement to memorialize the terms of the contract
between them.
NOW,THEREFORE,City and Vendor agree as follows:
1. Scope of Services. Vendor shall provide analysis and forecasting regarding the impact of
COVID-19 on City revenues. Exhibit"A,"-Scope of Services more specifically describes the services to
be provided hereunder and the responsibilities of the Vendor and the City with respect thereto.
OFFICIAL RECORD
Professional Services Agreement CITY SECRETARY page 1 of 12
FT. WORTH, TX
2. Term. This Agreement shall begin on the date signed by the Assistant City Manager below
("Effective Date")and shall expire on December 30,2020("Expiration Date"),unless terminated earlier in
accordance with this Agreement("Initial Term"). City shall have the option,in its sole discretion,to extend
this Agreement under the same terms and conditions for up to 180 days.
3. Compensation.
3.1 Fee&Payment Terms
i. As full and complete compensation, Vendor shall be paid an amount equal to Thirty-One
Thousand Dollars($31,000.00) following acceptance of the final report by the City as outlined in
Exhibit"A." Vendor shall not perform any additional services not identified in Exhibit"A"unless
City requests and approves in writing the additional costs for such services in advance. Vendor
shall not receive payment for any travel or other expenses under this Agreement.
ii. Along with the invoice,the Vendor shall provide the City with documentation sufficient to
substantiate the invoice. If the City requires additional reasonable documentation, it shall request
the same promptly after receiving the supporting documentation,and the Vendor shall provide such
additional reasonable documentation to the extent the documentation is available.
iii. On full and final completion of the services,Vendor shall submit a final invoice,and City
shall pay any balance due within 30 days of receipt of such invoice. Vendor shall invoice the City
electronically via email to: supplierinvoicesAfortworthtexas.gov. The invoice must contain the
complete City issued Purchase Order number and must be in PDF or TIFF format. The invoice
image quality must be at least 300 DPI(dots per inch) and must be sent as an attachment (i.e. no
invoice in the body of the email).
iv. In the event of a disputed or contested billing, only the portion being contested will be
withheld from payment,and the undisputed portion will be paid. City will exercise reasonableness
in contesting any bill or portion thereof. No interest will accrue on any contested portion of the
billing until the contest has been mutually resolved.
V. For contested billings,the City shall make payment in full to Vendor within 60 days of the
date the contested matter is resolved.
4. Termination.
4.1. Written Notice. City or Vendor may terminate this Agreement at any time and for
any reason by providing the other party with 7 days' written notice of termination.
4.2 Non-appropriation of Funds. In the event no funds or insufficient funds are
appropriated by City in any fiscal period for any payments due hereunder, City will notify Vendor
of such occurrence and this Agreement shall terminate on the last day of the fiscal period for which
appropriations were received without penalty or expense to City of any kind whatsoever,except as
to the portions of the payments herein agreed upon for which funds have been appropriated.
4.3 Duties and Obligations of the Parties. In the event that this Agreement is
terminated prior to the Expiration Date,City shall pay Vendor for services actually rendered up to
the effective date of termination,and Vendor shall continue to provide City with services requested
by City and in accordance with this Agreement up to the effective date of termination. Upon
termination of this Agreement for any reason, Vendor shall provide City with copies of all
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completed or partially completed documents prepared under this Agreement. In the event Vendor
has received access to City Information or data as a requirement to perform services hereunder,
Vendor shall return all City provided data to City in a machine readable format or other format
deemed acceptable to City.
5. Disclosure of Conflicts and Confidential Information.
5.1 Disclosure of Conflicts.Vendor hereby warrants to City that Vendor has made full
disclosure in writing of any existing or potential conflicts of interest related to Vendor's services
under this Agreement.In the event that any conflicts of interest arise after the Effective Date of this
Agreement,Vendor hereby agrees immediately to make full disclosure to City in writing.
5.2 Confidential Information.Vendor,for itself and its officers,agents and employees,
agrees that it shall treat all information provided to it by City ("City Information") as confidential
and shall not disclose any such information to a third party without the prior written approval of
City.
5.3 Public Information Act. City is a government entity under the laws of the State of
Texas, and all documents held or maintained by City are subject to disclosure under the Texas
Public Information Act. In the event there is a request for information marked Confidential or
Proprietary, City shall promptly notify Vendor. It will be the responsibility of Vendor to submit
reasons objecting to disclosure.A determination on whether such reasons are sufficient will not be
decided by City, but by the Office of the Attorney General of the State of Texas or by a court of
competent jurisdiction.
5.3 Unauthorized Access.Vendor shall store and maintain City Information in a secure
manner and shall not allow unauthorized users to access,modify, delete or otherwise corrupt City
Information in any way. Vendor shall notify City immediately if the security or integrity of any
City Information has been compromised or is believed to have been compromised,in which event,
Vendor shall, in good faith, use all commercially reasonable efforts to cooperate with City in
identifying what information has been accessed by unauthorized means and shall fully cooperate
with City to protect such City Information from further unauthorized disclosure.
6. Right to Audit. Vendor agrees that City shall,until the expiration of three(3)years after
final payment under this Agreement,or the final conclusion of any audit commenced during the said three
years,have access to and the right to examine at reasonable times any directly pertinent books,documents,
papers and records, including, but not limited to, all electronic records, of Vendor involving transactions
relating to this Agreement at no additional cost to City. Vendor agrees that City shall have access during
normal working hours to all necessary Vendor facilities and shall be provided adequate and appropriate
work space in order to conduct audits in compliance with the provisions of this section. City shall give
Vendor reasonable advance notice of intended audits.
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7. Independent Contractor. It is expressly understood and agreed that Vendor shall operate
as an independent contractor as to all rights and privileges and work performed under this Agreement, and
not as agent, representative, or employee of City. Subject to and in accordance with the conditions and
provisions of this Agreement, Vendor shall have the exclusive right to control the details of its operations
and activities and be solely responsible for the acts and omissions of its officers, agents, servants,
employees,contractors and subcontractors.Vendor acknowledges that the doctrine of respondeat superior
shall not apply as between City, its officers, agents, servants, and employees on the one hand and the
Vendor,its officers,agents,employees,servants,separate contractors,and subcontractors on the other hand.
Vendor further agrees that nothing herein shall be construed as the creation of a partnership or joint
enterprise between City and Vendor. It is further understood that City shall in no way be considered a Co-
employer or a Joint employer of Vendor or any officers, agents, servants, employees, or subcontractors of
Vendor. Neither Vendor nor any officers, agents, servants, employees or subcontractors of Vendor shall
be entitled to any employment benefits from City. Vendor shall be responsible and liable for any and all
payment and reporting of taxes on behalf of itself and of any of its officers,agents,servants, employees,or
subcontractors.
8. Liability and Indemnification.
8.1 LIABILITY- VENDOR SHALL BE LIABLE AND RESPONSIBLE FOR ANY
AND ALL PROPERTY LOSS, PROPERTY DAMAGE AND/OR PERSONAL INJURY,
INCLUDING DEATH, TO ANY AND ALL PERSONS, OF ANY KIND OR CHARACTER,
WHETHER REAL OR ASSERTED, TO THE EXTENT CAUSED BY THE NEGLIGENT
ACT(S) OR OMISSION(S), MALFEASANCE OR INTENTIONAL MISCONDUCT OF
VENDOR, ITS OFFICERS, AGENTS, SERVANTS, EMPLOYEES, OR SEPARATE
CONTRACTORS OR SUBCONTRACTORS.
8.2 GENERAL INDEMNIFICATION- VENDOR HEREBY COVENANTS AND
AGREES TO INDEMNIFY, HOLD HARMLESS AND DEFEND CITY, ITS OFFICERS,
AGENTS,SERVANTS,AND EMPLOYEES FROMAND AGAINST ANYAND ALL CLAIMS
OR LAWSUITS OFANYKIND OR CHARACTER, WHETHER REAL OR ASSERTED,FOR
EITHER PROPERTYDAMAGE OR LOSS(INCL UDINGALLEGED DAMAGE OR LOSS TO
VENDOR'S BUSINESS AND ANY RESULTING LOST PROFITS) AND/OR PERSONAL
INJURY, INCLUDING DEATH, TO ANY AND ALL PERSONS, ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT, TO THE EXTENT CAUSED BY THE
NEGLIGENT ACTS OR OMISSIONS OR MALFEASANCE OF VENDOR,ITS OFFICERS,
AGENTS, SERVANTS, EMPLOYEES, OR SEPARATE CONTRACTORS OR
SUBCONTRACTORS.
8.3 INTELLECTUAL PROPERTY INDEMNIFICATION — Vendor agrees to
defend, settle, or pay, at its own cost and expense, any claim or action against City for
infringement of any patent, copyright, trade mark, trade secret, or similar property right
arising from City's use of any Vendor-provided software and/or documentation in
accordance with this Agreement,it being understood that this agreement to defend,settle or
pay shall not apply if City modifies or misuses the software and/or documentation. So long as
Vendor bears the cost and expense of payment for claims or actions against City pursuant to
this section, Vendor shall have the right to conduct the defense of any such claim or action
and all negotiations for its settlement or compromise and to settle or compromise any such
claim; however, City shall have the right to fully participate in any and all such settlement,
negotiations, or lawsuit as necessary to protect City's interest, and City agrees to cooperate
with Vendor in doing so. In the event City, for whatever reason, assumes the responsibility
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for payment of costs and expenses for any claim or action brought against City for
infringement arising under this Agreement, City shall have the sole right to conduct the
defense of any such claim or action and all negotiations for its settlement or compromise and
to settle or compromise any such claim; however, Vendor shall fully participate and
cooperate with City in defense of such claim or action. City agrees to give Vendor timely
written notice of any such claim or action,with copies of all papers City may receive relating
thereto. Notwithstanding the foregoing, City's assumption of payment of costs or expenses
shall not eliminate Vendor's duty to indemnify City under this Agreement. If the software
and/or documentation or any part thereof is held to infringe and the use thereof is enjoined
or restrained or,if as a result of a settlement or compromise,such use is materially adversely
restricted,Vendor shall, at its own expense and as City's sole remedy,either: (a)procure for
City the right to continue to use the software and/or documentation; or (b) modify the
software and/or documentation to make it non-infringing, provided that such modification
does not materially adversely affect City's authorized use of the software and/or
documentation; or (c) replace the software and/or documentation with equally suitable,
compatible,and functionally equivalent non-infringing software and/or documentation at no
additional charge to City; or (d)if none of the foregoing alternatives is reasonably available
to Vendor, terminate this Agreement and refund all amounts paid to Vendor by City,
subsequent to which termination City may seek any and all remedies available to City under
law.
9. Assignment and Subcontracting.
9.1 Assignment. Vendor shall not assign or subcontract any of its duties, obligations
or rights under this Agreement without the prior written consent of City. If City grants consent to
an assignment, the assignee shall execute a written agreement with City and Vendor under which
the assignee agrees to be bound by the duties and obligations of Vendor under this Agreement.
Vendor and assignee shall be jointly liable for all obligations of Vendor under this Agreement prior
to the effective date of the assignment.
9.2 Subcontract. If City grants consent to a subcontract, subcontractor shall execute a
written agreement with Vendor referencing this Agreement under which subcontractor shall agree
to be bound by the duties and obligations of Vendor under this Agreement as such duties and
obligations may apply. Vendor shall provide City with a fully executed copy of any such
subcontract.
10. Insurance. Vendor shall provide City with certificate(s) of insurance documenting
policies of the following types and minimum coverage limits that are to be in effect prior to commencement
of any work pursuant to this Agreement:
10.1 Coverage and Limits
(a) Commercial General Liability:
$1,000,000- Each Occurrence
$2,000,000- Aggregate
(b) Automobile Liability:
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Automobile liability coverage is not required under this professional services
agreement as the work will be done remotely and will not require use of an
automobile.
(c) Worker's Compensation:
Workers' Compensation coverage is not required under this Agreement as
Vendor's Governing Person/sole owner will perform all work directly.
(d) Professional Liability(Errors&Omissions):
$750,000- Each Claim Limit
$750,000- Aggregate Limit
Professional Liability coverage may be provided through an endorsement to the
Commercial General Liability (CGL) policy, or a separate policy specific to
Professional E&O. Either is acceptable if coverage meets all other requirements.
Coverage shall be claims-made,and maintained for the duration of the contractual
agreement and for two (2) years following completion of services provided. An
annual certificate of insurance shall be submitted to City to evidence coverage.
10.2 General Requirements
(a) The commercial general liability shall name City as an additional insured
thereon, as its interests may appear. The term City shall include its employees,
officers,officials,agents,and volunteers in respect to the contracted services.
(b) A minimum of thirty (30) days' notice of cancellation or reduction in
limits of coverage shall be provided to City. Ten (10) days' notice shall be
acceptable in the event of termination or cancellation due to non-payment of
premium.Notice shall be sent to the Risk Manager,City of Fort Worth,200 Texas
Street, Fort Worth, Texas 76102, with copies to the Fort Worth City Attorney at
the same address.
(c) The insurers for all policies must be licensed and/or approved to do
business in the State of Texas. All insurers must have a minimum rating of A-VII
in the current A.M.Best Key Rating Guide,or have reasonably equivalent financial
strength and solvency to the satisfaction of Risk Management. If the rating is
below that required,written approval of Risk Management is required.
(d) Any failure on the part of City to request required insurance
documentation shall not constitute a waiver of the insurance requirement.
(e) Certificates of Insurance evidencing that Vendor has obtained all required
insurance shall be delivered to the City prior to Vendor proceeding with any work
pursuant to this Agreement.
11. Compliance with Laws,Ordinances,Rules and ReEulations. Vendor agrees that in the
performance of its obligations hereunder, it shall comply with all applicable federal, state, and local laws,
ordinances, rules, and regulations and that any work it produces in connection with this Agreement will
also comply with all applicable federal, state, and local laws, ordinances, rules, and regulations. If City
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notifies Vendor of any violation of such laws, ordinances, rules or regulations, Vendor shall immediately
desist from and correct the violation.
12. Non-Discrimination Covenant. Vendor, for itself, its personal representatives, assigns,
subcontractors,and successors in interest,as part of the consideration herein,agrees that in the performance
of Vendor's duties and obligations hereunder, it shall not discriminate in the treatment or employment of
any individual or group of individuals on any basis prohibited by law. IF ANY CLAIM ARISES FROM
AN ALLEGED VIOLATION OF THIS NON-DISCRIMINATION COVENANT BY VENDOR,ITS
PERSONAL REPRESENTATIVES, ASSIGNS, SUBCONTRACTORS, OR SUCCESSORS IN
INTEREST, VENDOR AGREES TO ASSUME SUCH LIABILITY AND TO INDEMNIFY AND
DEFEND CITY AND HOLD CITY HARMLESS FROM SUCH CLAIM.
13. Notices. Notices required pursuant to the provisions of this Agreement shall be
conclusively determined to have been delivered when (1) hand-delivered to the other party, its agents,
employees, servants or representatives, (2) delivered by facsimile with electronic confirmation of the
transmission,or(3)received by the other party by United States Mail,registered,return receipt requested,
addressed as follows:
To CITY: To VENDOR:
City of Fort Worth Jacob Dearmon, Governing Person/Sole Owner
Attn: Assistant City Manager for Finance Dearmon Analytics LLC
200 TEXAS ST 436 NW 16TH ST
FORT WORTH TX 76102-6314 OKLAHOMA CITY OK 73103-3423
With copy to Fort Worth City Attorney's Office at
same address
14. Solicitation of Employees. Neither City nor Vendor shall, during the term of this
Agreement and additionally for a period of one year after its termination,solicit for employment or employ,
whether as employee or independent contractor, any person who is or has been employed by the other
during the term of this Agreement, without the prior written consent of the person's employer.
Notwithstanding the foregoing,this provision shall not apply to an employee of either party who responds
to a general solicitation of advertisement of employment by either party.
15. Governmental Powers. It is understood and agreed that by execution of this Agreement,
City does not waive or surrender any of its governmental powers or immunities.
16. No Waiver. The failure of City or Vendor to insist upon the performance of any term or
provision of this Agreement or to exercise any right granted herein shall not constitute a waiver of City's or
Vendor's respective right to insist upon appropriate performance or to assert any such right on any future
occasion.
17. Governine Law/Venue. This Agreement shall be construed in accordance with the laws
of the State of Texas. If any action,whether real or asserted, at law or in equity,is brought pursuant to this
Agreement, venue for such action shall lie in state courts located in Tarrant County, Texas or the United
States District Court for the Northern District of Texas,Fort Worth Division.
Professional Services Agreement Page 7 of 11
18. Severability. If any provision of this Agreement is held to be invalid, illegal or
unenforceable,the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired.
19. Force Maieure. City and Vendor shall exercise their best efforts to meet their respective
duties and obligations as set forth in this Agreement,but shall not be held liable for any delay or omission
in performance due to force majeure or other causes beyond their reasonable control, including, but not
limited to, compliance with any government law, ordinance or regulation, acts of God, acts of the public
enemy, fires, strikes, lockouts, natural disasters, wars, riots, material or labor restrictions by any
governmental authority,transportation problems and/or any other similar causes.
20. Headings not Controlling. Headings and titles used in this Agreement are for reference
purposes only, shall not be deemed a part of this Agreement, and are not intended to define or limit the
scope of any provision of this Agreement.
21. Review of Counsel. The parties acknowledge that each party and its counsel have
reviewed and revised this Agreement and its exhibit and that the normal rules of construction to the effect
that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation
of this Agreement or any exhibit thereto.
22. Amendments/Modifications/Extensions. No amendment, modification, or extension
of this Agreement shall be binding upon a party hereto unless set forth in a written instrument, which is
executed by an authorized representative of each party.
23. Counterparts; Electronic Signatures. This Agreement may be executed in one or more
counterparts and each counterpart shall, for all purposes,be deemed an original,but all such counterparts
shall together constitute one and the same instrument. Electronically reproduced signatures transmitted by
facsimile or electronic mail shall be treated as originals for all purposes hereof.
24. Warranty of Services. Vendor warrants that its services will be of a high quality and
conform to generally prevailing industry standards. City must give written notice of any breach of this
warranty within thirty(30) days from the date that the services are completed. In such event, at Vendor's
option,Vendor shall either(a)use commercially reasonable efforts to re-perform the services in a manner
that conforms with the warranty, or (b) refund the fees paid by City to Vendor for the nonconforming
services.
25. Immigration Nationality Act. Vendor shall verify the identity and employment eligibility
of its employees who perform work under this Agreement, including completing the Employment
Eligibility Verification Form(I-9). Upon request by City,Vendor shall provide City with copies of all I-9
forms and supporting eligibility documentation for each employee who performs work under this
Agreement. Vendor shall adhere to all Federal and State laws as well as establish appropriate procedures
and controls so that no services will be performed by any Vendor employee who is not legally eligible to
perform such services. VENDOR SHALL INDEMNIFY CITY AND HOLD CITY HARMLESS
FROM ANY PENALTIES, LIABILITIES, OR LOSSES DUE TO VIOLATIONS OF THIS
PARAGRAPH BY VENDOR, VENDOR'S EMPLOYEES, SUBCONTRACTORS, AGENTS, OR
LICENSEES. City, upon written notice to Vendor, shall have the right to immediately terminate this
Agreement for violations of this provision by Vendor.
26. Ownership of Work Product. City shall be the sole owner of the report produced in
conjunction with the services rendered in Exhibit A (collectively, "Work Product"). If and to the extent
such Work Product, or any part thereof, is not considered a "work-made-for-hire" within the meaning of
Professional Services Agreement Page 8 of 11
the Copyright Act of 1976,as amended,Vendor hereby expressly assigns to City right,title and interest in
and to the Work Product,and all copies thereof without further consideration,free from any claim,lien for
balance due, or rights of retention thereto on the part of City. Vendor retains ownership of the report
template and procedures.
27. Signature Authority. The person signing this Agreement hereby warrants that he/she has
the legal authority to execute this Agreement on behalf of the respective party and that such binding
authority has been granted by proper order,resolution,ordinance,or other authorization of the entity. Each
party is fully entitled to rely on these warranties and representations in entering into this Agreement or any
amendment hereto.
28. Change in Company Name or Ownership. Vendor shall notify City's Purchasing
Manager, in writing, of a company name, ownership, or address change for the purpose of maintaining
updated City records.The president of Vendor or authorized official must sign the letter.A letter indicating
changes in a company name or ownership must be accompanied with supporting legal documentation such
as an updated W-9, documents filed with the state indicating such change, copy of the board of director's
resolution approving the action, or an executed merger or acquisition agreement. Failure to provide the
specified documentation may adversely impact future invoice payments.
29. No Boycott of Israel. If Vendor has fewer than 10 employees or this Agreement is for
less than $100,000, this section does not apply. Vendor acknowledges that in accordance with Chapter
2270 of the Texas Government Code,the City is prohibited from entering into a contract with a company
for goods or services unless the contract contains a written verification from the company that it: (1)does
not boycott Israel;and(2)will not boycott Israel during the term of the contract. The terms"boycott Israel"
and "company" shall have the meanings ascribed to those terms in Section 808.001 of the Texas
Government Code. By signing this contract,Vendor certifies that Vendor's signature provides written
verification to the City that Vendor: (1)does not boycott Israel; and(2)will not boycott Israel during
the term of the contract.
Professional Services Agreement Page 9 of 11
30. Entirety of Agreement. This instrument, including the exhibit, contains the entire
understanding and agreement between City and Vendor,their assigns and successors in interest, as to the
matters contained herein. Any prior or contemporaneous oral or written agreement is hereby declared null
and void to the extent in conflict with any provision of this Agreement.
IN WITNESS WHEREOF,the parties hereto have executed this Agreement in multiples.
ACCEPTED AND AGREED:
CITY OF FORT WORTH: VENDOR: DEARMON ANALYTICS LLC
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By: Jesus Chapa(Dec 6,202013:37 CST) By: Jacob Dearmon(Dec 8,202016:47 CST)
Name: Jesus"Jay"Chapa Name: Jacob Dearmon
Title: Deputy City Manager Title: Governing Person/Sole Owner
Date: Dec 9, 2020 Date: D2C 8, 2020
APPROVAL RECOMMENDED:
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By: Reginald Zeno(Dec 9,20201333 CS-0
Name: Reginald Zeno
Title: Director Financial Management Services
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kl-IFOA94 60&M 2ef a� 9'01By: 'forRonaldP.Gonzales(Dec9,202016:32CST) A—o° odd 0.
oName: Mary Kayser *° *�d
Title: City Secretary �aa 000000000 a
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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.
By:
Name: John Samford
Title: City Treasurer
APPROVED/AS/T/O FORM AND LEGALITY:
By
Name: Denis McElroy
Title: Assistant City Attorney
CONTRACT AUTHORIZATION: No M&C Required OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
Professional Services Agreement Page 10 of 11
Exhibit A - Scope of Services
Requests:
• Request 1: Aggregate property tax forecast
• Request 2: Commercial property tax breakdown by industry
• Request 3: Contextual evidence such as building permits
• Request 4: Sensitivity analysis
• Request 5: Condensed time frame-less than a month
Data Requested
The proposal contained in this document hinges on the timely delivery of the following datasets:
• Data Request 1: For the aggregate property tax forecast, I will need annual historical
certification data going back to the 1980's as well as sub-components if available.
• Data Request 2: For the commercial property tax breakdown by industry, I'll need Tarrant
County Appraisal District data going back to 2005 with property types classified by industry.
In the future, we may consider including Denton, Parker and Wise counties in the analysis.
• Data Request 3: Historical files that contain commercial certified values for Fort Worth in
Tarrant County to ensure a reasonable match with the TAD files from Data Request 2.
• Data Request 4: Building permit data.
Cost
The cost for this expedited service is$31,000, which includes a $7,500 stress testing exercise.
The deliverable will be a report that includes the components listed below.
Outline of Steps Involved
Request 1: Aggregate Analysis (4.5 days total).
• Step 1: Load in aggregate data available from Data Request 1. (0.25 day)
• Step 2: Construct appropriate views for analysis (0.25 days)
• Step 3: Statistical Modeling and Results (2.5 days)
• Step 4: Visualization and Reporting in Tableau (1.5 days)
Request 2: TAD's Commercial Property Tax Breakdown (11 days total)
• Step 1: Load in each year's dataset(2 days- many very large files)
• Step 2: Create extensive views to link years and accounts together(2 days)
• Step 3: Statistical Modeling (4 days forecasting for numerous industry types)
• Step 4: Visualization and Reporting in Tableau (3 days)
Request 3: Contextual Evidence(1.25 day total)
• Step 1: Load in building permit data—probably many files, need to write a script(0.5 day)
• Step 2: Construct appropriate views for analysis; write mapping for new construction (0.5
days)
• Step 3: Visualization and Reporting in Tableau (.25 days)
Request 4: Sensitivity Analysis
• Two basic sensitivity analyses-No additional time beyond what is mentioned above.
o Different Recession Lengths: Through 2021Q1, Q2, Q3, Q4.
o Hierarchical Approach: Comparison across different levels of aggregation.
• Stress Testing: I will conduct a stress testing exercise of the aggregate, long-run certified
values using an annualized version of the Comprehensive Capital Analysis and Review
(CCAR)dataset(available here: https://www.federaireserve.gov/supervisionreg/ccar-
2020.htm) recently released by the Fed back on September 17tn
Request 5: Condensed Time Frame
• A preliminary version of the report will be delivered on or before 12/21/2020.
• City of Fort Worth comments on the report will be due by end of day 12/28/2020.
• Final draft will be provided by the end of day on 12/29/2020.
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