Co-appoint Ehlers, Inc. as city's financial advisor. 

Motion to co-appoint Ehlers, Inc. as the city's municipal financial advisor.

The City has contracted with Baker Tilly (formerly Springsted) over the past several decades to provide municipal financial advisory services.  The firm has historical knowledge and vast experience working with the city and staff.  However, after consideration and review, staff would like to appoint Ehlers as co-financial advisor to provide the same range of services related to debt issuances, economic and redevelopment, and tax increment financing districts.  Ehlers is well-known and highly regarded for their knowledge of debt issuances, financial planning, community development and economic development/redevelopment.  Ehlers is currently assisting the city with a utility rate study for sewer and surface water funds.

Ehlers brings to the mix:

• Municipal advisors that have a strong balance of bond work, tax increment financing, development expertise.  The team assigned to Shakopee has substantial experience.
• A broad range of experience with similar cities.
• New perspective in terms of development planning and debt portfolio.  Which allows for insight and feedback regarding our current approach.

Fee amounts for the firms are comparable.  This will allow staff to choose the financial advisor on a project specific basis that is the best fit for that project.

Staff reached out to current comparable city clients and received very positive comments.  Specifically in the areas of development/tax increment and customer service.