Item 25 - Approve Consultant Agreement with Avenu Insights

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c. CONSULTANT shall furnish at its own expense all labor, materials, equipment and other items necessary to carry out the terms of this Agreement. 2. COMPENSATION Upon execution of this Agreement, CITY will pay CONSULTANT as outlined in EXHIBIT C (CONSIDERATION), which is attached hereto and incorporated by reference. CONSULTANT shall invoice CITY quarterly on a City fiscal year basis for all charges for services performed pursuant to this Agreement. Except however, that pursuant to a duly executed Change Order mutually agreed to by the parties in accordance with Section 3-22 of this Agreement, a different invoicing period may be specified for the particular services provided in accordance with the terms of such Change Order. Payment by City shall be made within forty-five (45) days following receipt of proper invoice evidencing work performed, subject to CITY accounting procedures and proof of insurance as set forth in section 3-9 (insurance). Payment need not be made for work that fails to meet the standards of performance set forth in the Recitals that may reasonably be expected by CITY. 2.1 Annual Compensation Cap Compensation for each yearly period (February 1 through January 31) of services provided under this Agreement, including optional contract extension periods, shall be capped by City fiscal year period (July 1 through June 30) as follows: 2020-21 $42,500 $90,000 $132,500 2021-22 $85,000 $47,000 $132,000 2022-23 $85,000 $47,000 $132,000 2023-24 $85,000 $47,000 $132,000 2024-25 $85,000 $47,000 $132,000 2025-26 $42,500 $47,000 $ 89,500 750 000 Provided however, that pursuant to a duly executed Change Order mutually agreed to by the parties in accordance with Section 3-22 of this Agreement, unspent contingency amounts authorized for a preceding City fiscal year period may be carried forward by written order of the Executive Director of Finance and Management Services to cover expenses for work or services agreed to by the parties but exceeding the annual CITY fiscal year compensation amount cap initially specified for such subsequent period under the provisions of this section. 2.2 Maximum Contract Compensation Maximum compensation payable to CONSULTANT for all services rendered by CONSULTANT to CITY, inclusive of all amounts payable for optional and contingency services shall not exceed $750,000 unless an increase in maximum contract compensation shall be agreed to by the parties pursuant to duly executed amendment to this Agreement.