Memorandum
Date: February 4, 2025
To: The Honorable E.J. Crandell, Chair, Lake County Board of Supervisors
From: Jenavive Herrington, Auditor-Controller/Clerk
Subject: ADDENDUM - Approve Amendment One to Agreement with KNN Public Finance for Municipal Advisor Services related to the Sheriff Facility Project Financing for an increase of $112,500 and authorize Department Head to sign
Executive Summary:
KNN Public Finance, LLC has served as a trusted financial consultant and municipal advisor to Lake County since November 2023. In April 2024, the county made a significant decision to move forward with the construction of a new sheriff facility. Given KNN's established relationship with the county and their expertise in municipal finance, it is both prudent and advantageous to engage their services for this specific project.
The proposed amendment to the existing agreement, which is attached for review, will authorize KNN to provide specialized municipal advisory services related to the Lake County Public Financing Authority 2024 Lease Revenue Bonds. This amendment ensures that KNN can be appropriately compensated for their professional guidance and support throughout the bond issuance process, which is important for financing the sheriff facility project.
Continuing to leverage KNN's expertise, Lake County can benefit from their in-depth understanding of the local financial landscape and their proven track record in municipal advisory services. This strategic partnership will help ensure the successful financing and implementation of the sheriff facility project, ultimately serving the best interests of Lake County and its residents.
If not budgeted, fill in the blanks below only:
Estimated Cost: ________ Amount Budgeted: ________ Additional Requested: ________ Future Annual Cost: ________
Purchasing Considerations (check all that apply): ? Not applicable
? Fully Article X.- and/or Consultant Selection Policy-Compliant (describe process undertaken in ...
Click here for full text