Title
Approving a professional services agreement with Valley View Consulting, LLC, not to exceed $12,000.00 for the purpose of financial investment consulting and authorizing the Executive Director to execute the same.
Summary
The PCDC has received services from Valley View Consulting for the past 18 months, and we have budgeted $12,000 for this professional services agreement in FY24. The only edit from the previous contract apart from the expired period is to include the ‘$12,000.00 annual maximum’ as highlighted below to reflect the budgeted amount:
“In consideration for the services rendered by Advisor, it is understood and agreed that its fee will be an annual fee of six basis points (0.06%) of the total portfolio’s average quarter end book value, with a $5,000.00 annual minimum and $12,000.00 annual maximum. Said fee shall be prorated and due and payable at the end of each investment quarter. “
This Agreement shall remain in effect until December 31, 2025, with the option of the Investor to extend this Agreement in additional one or two-year increments. However, the PCDC may terminate this agreement within 30 days with written notiifcation.
Prior Action:
On May 18th 2022, PCDC Board took action to authorize the Executive Director to enter into an agreement with Valley View Consulting, LLC., not to exceed $12,000, for the purpose of financial investment consulting which expired in December 2023.
Supporting Documents:
Valley View Contract Agreement 2024 01 08 PCDC Final Doc
Attorney Review Required: _X__Yes ___No Date Reviewed: 2/22/2024
Staff Recommendation
Approve
Drafter
Amy Madison, Executive Director