Title/Name/Summary
SB Friedman Development Advisors as needed Consulting Services 2024 - Downtown Orland Park
History
SB Friedman has, and continues to assist the Village in various economic development matters. Key areas of work include, forecasting incremental property tax revenue, forecasting sales tax revenue, forecasting business district sales and/or hotel tax revenues, reviewing developer pro formas and requests for Village financial support, providing term sheet, economic incentive agreement and/or redevelopment agreement negotiation support and participating in calls with Village and developers. Staff is requesting to continue the ongoing engagement for an hourly as needed services agreement for Downtown Orland Park with SB Friedman, in an amount not to exceed $40,000.
The original agreement is available in case 2024-0076.
Financial Impact
Funding will be made available in 3100000 432800.
Recommended Action/Motion
I move to approve a contract with SB Friedman in the amount not to exceed $40,000, as outlined;
AND
Authorize the Village Manager to execute all related contracts, subject to Village Attorney review.