Board of Estimate & Contract:
RESOLVED, that a resolution adopted by the City Council on August 14, 2025, and signed by the Mayor on August 15, 2025, authorizing the Extension of the Agreement with Capital Markets Advisors, LLC for Financial Strategic Planning Services and Authorizing Related Budget Transfer - (Capital Markets Advisors, LLC shall be compensated in the total amount of Forty-Five Thousand Nine Hundred Dollars ($45,900), payable in three installments as follows:
* $15,300 due September 15, 2025;
* $15,300 due November 15, 2025;
* $15,300 due upon delivery of the final plans.
The expenditure shall be charged to Budget Line A1315.405 - Contracted Services. A budget transfer of $15,000 from Budget Line A1316.498 - C.P.A. Audit Fees to Budget Line A1315.405 - Contracted Services; be, and the same is hereby approved.
City Council:
AN ORDINANCE AUTHORIZING THE EXTENSION
OF THE AGREEMENT WITH CAPITAL MARKETS
ADVISORS, LLC FOR FINANCIAL STRATEGIC
PLANNING SERVICES AND AUTHORIZING A
RELATED BUDGET TRANSFER
Whereas, in correspondence dated August 5, 2025, the Comptroller formally requested authorization for the Comptroller to extend the City's agreement with Capital Markets Advisors, LLC to provide the additional financial strategic planning services described herein; and
Whereas, the City of Mount Vernon has engaged Capital Markets Advisors, LLC as its financial advisor for over a decade, benefiting from their technical expertise and guidance on a wide range of fiscal matters; and
Whereas, ongoing financial challenges, evolving economic conditions, and the recommendations outlined in the recent audit report by the New York State Office of the State Comptroller underscore the urgent need for a comprehensive, strategic approach to long-term financial planning; and
Whereas, the Comptroller recommends extending the City's agreement with Capital Markets Advisors, LLC t...
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