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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: NOVEMBER 17, 2020 TITLE: APPROVE AN APPROPRIATION ADJUSTMENT AND AMEND AGREEMENT WITH MAGELLAN ADVISORS LLC TO INCREASE THE CONTRACT AMOUNT BY $36,685 FOR THE REMAINING TERM OF THE AGREEMENT FOR CITYWIDE FIBER- OPTIC AND WIRELESS BROADBAND NETWORK CONSULTING SERVICES (PROJECT NO. 18-6065) (NON -GENERAL FUND) /s/ Kristine CITY MANAGER CLERK OF COUNCIL USE ONLY: ❑ As Recommended ❑ As Amended ❑ Ordinance on 1 s' Reading ❑ Ordinance on 2n1 Reading ❑ Implementing Resolution ❑ Set Public Hearing For_ CONTINUED TO FILE NUMBER RECOMMENDED ACTION 1. Approve an appropriation adjustment recognizing the remaining balance of the loan proceeds with the trustee in the amount of $1,475,047 into the Capital Outlay, Miscellaneous Revenue, Prior Year Carry Forward revenue account, and appropriating the same amount into the Capital Outlay, Streetlights, Improvements Other Than Building expenditure account. 2. Authorize the City Manager to execute an amendment to the agreement with Magellan Advisors LLC to increase the contract amount by $36,685, which includes a $33,350 project fee and a 10% contingency of $3,335 for a total contract amount not to exceed $261,685, for the remaining term of the agreement from November 17, 2020 to April 2, 2021, with two one-year extensions exercisable by the City Manager and the City Attorney, to provide citywide fiber- optic and wireless broadband network consulting services subject to non -substantive changes approved by the City Manager and the City Attorney. DISCUSSION On April 3, 2018, the City Council approved the purchase of streetlights from Southern California Edison along with a financing agreement for the purchase in the amount of $7,052,662 through Holman Capital Corporation (Holman). Purchasing the streetlights provided the City the opportunity to meter and upgrade the streetlights from High Pressure Sodium (HPS) light fixtures to energy efficient Light Emitting Diode (LED) fixtures. The City was able to leverage the substantial energy cost savings from the light fixture upgrades to fund the repayment of the loan, upgrade the streetlights, install streetlights in under lit areas, and evaluate the City for a fiber -optics and wireless network. There is a remaining balance of $1,475,047 which staff seeks to appropriate to complete the light fixture upgrades and the purchase of the final streetlights. Additionally, staff seeks to utilize a portion of the appropriation to increase the capacity of the Citywide Fiber-optic Broadband Network 20A-1