PUBLIC FINANCIAL MANAGEMENT - 2008

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February 25,2008 Francisco Gutierrez Executive Drrector Finance & Management Services City of Santa Ana 20 Civic Center Plaza Santa Ana, CA 92701 Re: Proposal to Review and Evaluate Potential Cell Tower Financing Opportunities for the City of Santa Ana, CA Dear Mr. Gutierrez: In accordance with your request, we are pleased to have this opportunity to submit for your consideration this proposal to assist the City of Santa Ana (herein, the "City") in evaluating the financial viability of cell tower financing options. We will evaluate proposals submitted to the City by various firms. Based on the results of our own independent financial review, we will provide to the City: • An independent analysis of the potential savings/benefit of each opportunity Review the (validity of) the assumptions used in the proposals • Define a framework for evaluating each opportunity Provide specific recommendations regarding deal structure, key legal provisions, and counterparty compensation The scope of this engagement will likely require several financial projections. We anticipate participating in conference calls with City staff and elected officials, upon short notice. We will prepare a short 2-3 page executive memorandum and PowerPoint presentation materials to summarize our conclusions and recommendations. In addition, we will present our findings to City Staff and the City Council in an oral presentation. We anticipate that this engagement will be comnleted within 90 days. I will be the primary consultant assigned to this engagement and will assume overall responsibility for the staffing and resources allocated to this engagement and for controlling the quality of the analysis that the City receives. We anticipate that this engagement will require the investment of approximately 40-60 hours of professional staff time, which would result in an estimated fee for the services of approximately $]0,000 to $15,000.