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HomeMy WebLinkAbout062112-A1R1 - General - Contract - Dearmon Analytics LLCFirst Amendment to City of Fort Worth Vendor Services Agreement with Dearmon Analytics Page 1 of 5 FIRST AMENDMENT TO AND RENEWAL OF FORT WORTH CITY SECRETARY CONTRACT NUMBER 62112 Vendor Services Agreement with Dearmon Analytics This FIRST AMENDMENT TO AND RENEWAL OF FORT WORTH CITY SECRETARY CONTRACT NO. 62112 (“First Amendment”) is made and entered into by and between the City of Fort Worth,a home-rule municipal corporation of the State of Texas (“City”), acting by and through its duly authorized Assistant City Manager, and Dearmon Analytics LLC (“Vendor”), acting by and through its duly authorized governing person. WHEREAS, City and Vendor are parties to a Vendor Services Agreement pursuant to which Vendor provides analysis and forecasting of sales and property tax receipts as well as other revenues, the same being City Secretary Contract Number 62112 (“Contract”); and WHEREAS, the Contract provides for an initial term of one year and up to three renewal options of one year each ; and WHEREAS, the parties wish to revise the scope of services to be provided and to renew the Contract for an additional year. NOW, THEREFORE, City and Vendor, do hereby covenant and agree as follows: 1. That Fort Worth City Secretary Contract No. 62112 is hereby renewed and extended for an additional one-year term, commencing October 1, 2025, and ending September 30, 2026 (the “Renewal Term”). 2. That for purposes of the Renewal Term, Exhibits A and B are repealed and replaced with the versions attached to this First Amendment. First Amendment to City of Fort Worth Vendor Services Agreement with Dearmon Analytics Page 2 of 5 3. That all other terms and conditions of Fort Worth City Secretary Contract No. 62112 that are not amended herein shall remain in full force and effect throughout the Renewal Term. IN WITNESS WHEREOF, the parties hereto have executed this First Amendment in Fort Worth, Tarrant County, Texas, this ______ day of ___________________, 2025. CITY OF FORT WORTH DEARMON ANALYTICS LLC ____________________________________________________ ______________Jacob Dearmon Assistant City Manager Governing Person Approved as to Form and Legality: By: ________________________ Denis McElroy Assistant City Attorney Original Contract: No M&C Required Amendment and Renewal: No M&C Required Attest: By: ________________________ Jannette S. Goodall, City Secretary 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: ________________________ S. Brady Kirk, Assistant Director Vendor Services Agreement – Exhibit A Page 3 of 5 EXHIBIT A SCOPE OF SERVICES Deliverable 1: Sales Tax Reports Deliverable 1a: Annual 7-year forecast using long-run annual observations. Provide at least three scenarios or provide a range of possible outcomes. Only for aggregate net payments. First Deliverable Due Date: First draft of 7-year forecast due January 15 Final Deliverable Due Date: Final draft due February 25 Deliverable 1b: Stress testing exercise for aggregate net payments as an alternative modeling process using either FED’s stress testing dataset. Deliverable Due Date: End of the month of April each year Deliverable 1c: Commentary and Presentation Material Deliverable Due Date: As needed basis Deliverable 1d: (Up to times per year (by default December, February, April, June, July, and -months might be moved around depending on the need)) Monthly Sales Tax Forecast – provide month-by-month forecasts. Local Economic Conditions Model – need monthly series data Multiple models Quarterly Sales Tax Forecast – forecast based on quarterly series Fiscal Year Forecast for current and next FY based on monthly forecasts Monthly Forecasts – approximately 20 or so series (should timely data be made available) National, State, Local Economic Indicators – including BLS industry-level local employment and earnings statistics. Other data available upon request. Three monthly scenarios: Baseline, Pessimistic, Optimistic. Deliverable Due Date: Targeting 10 calendar days from the date the monthly sales tax data is made available by the Texas Comptroller or by the City of Fort Worth Deliverable 1e: Brief monthly meeting (as requested by the City with a minimum of a 10-calendar day advance notice) discussing current economic conditions and forecast. Deliverable Due Date: The City may request meetings and presentations to occur on a more or less frequent basis provided the City gives at least a 10-calendar day notice subject to scheduling availability Deliverable 2: Franchise Fees: Forecasting with scenarios (optimistic, base, pessimistic) of franchise fee revenues using payment history, economic indicators (gas, cable, minor telecom, any others), and other pertinent data Vendor Services Agreement – Exhibit A Page 4 of 5 A. Quarterly forecasting for use in current year budget management and next year’s budget planning Deliverable 3: Optional Additional Services A. Analysis and Forecasting B. Optional analysis upon request and billable at prespecified rate Vendor Services Agreement – Exhibit B Page 5 of 5 EXHIBIT B PRICE SCHEDULE The all-inclusive price for the services as described in Exhibit A is as follows: Deliverable 1 series: $35,000 Deliverable 2 series: $7,500 Deliverable 3 series: dependent on hours (not to exceed a total of $42,500) One third (1/3) of the amounts above will be considered due and payable subject to the following conditions: The City receives and accepts all deliverables that are scheduled to be due through the end of the month of February each year Vendor provides an invoice meeting the City’s invoicing requirements Payment will be rendered “net 30” from the date the vendor invoice is received assuming the associated deliverables are accepted by the City The remaining Two-thirds (2/3) of the amounts above will be considered due and payable subject to the following conditions: The City receives and accepts all remaining deliverables Vendor provides an invoice meeting the City’s invoicing requirements Payment will be rendered “net 30” from the date the vendor invoice is received assuming the associated deliverables are accepted by the City With respect to “Optional Additional Services – Analysis and Forecasting”, any additional analysis and forecasting service(s) outside of those described in deliverables 1 and 2 must be agreed to, in writing, by the City and Vendor. The estimated not-to-exceed amount will be based on an estimated number of hours for each task billed at a rate of $225.00 per hour. Any invoice for “Optional Additional Services – Analysis and Forecasting” will be paid net 30 from the date the vendor invoice is received assuming the associated the deliverable(s) are accepted by the City.