REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on Amendment No. 2 to the Agreement as Amended with J.S. Held LLC for Consulting Services for the Santa Clara Stadium Authority [Board Pillar: Ensure Compliance with Measure J and Manage Levi's Stadium]
Report
BACKGROUND
On September 20, 2018, the Stadium Authority (Authority) entered into an agreement with Hagen, Streiff, Newton, & Oshiro Accountants, P.C. (HSNO), to provide the Authority with litigation consulting services by performing a review of the financial statements and supporting documents provided by the San Francisco Forty-Niners and providing the Authority with a review and analysis of the financial statements. The agreement was amended on April 9, 2019, to update the scope of services, increase the contract amount, and extend term of agreement. On February 27, 2020, the City entered into a Consent to Assignment Agreement with J.S. Held LLC after the company acquired HSNO. J.S. Held LLC will continue to provide the services to the Authority under the Original Agreement as Amended with HSNO.
DISCUSSION
The Authority has engaged J.S. Held LLC to provide litigation consulting services and to perform an analysis of the Non-NFL Event Revenues and Expenses, the Construction Fund expense and cost allocation, and other stadium related business transactions or contracts identified by the Authority. The current contract with J.S. Held LLC has a total not-to-exceed amount of $200,000 and terminates on December 31, 2020. The total year-to-date expenditures paid to J.S. Held LLC is $ $183,720. Staff is recommending Amendment No. 2 to extend the termination date to December 31, 2022 and increase the compensation by $225,000 for a revised not-to-exceed amount of $425,000. The additional funding is needed due to unanticipated costs incurred from delays in obtaining supporting documents. The consultant's work has been challenged by the effort necessary to obtain the necessary supporting documents and the ...
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