Loading...
HomeMy WebLinkAboutR26-177 RESOLUTION NO. R26-177 1 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON 2 BEACH, FLORIDA, AWARDING REQUEST FOR PROPOSAL NO. 26-053R 3 FOR STRATEGIC P3 FINANCIAL ADVISORY SERVICES TO PFM 4 FINANCIAL ADVISORS LLC, AND APPROVING AN AGREEMENT 5 BETWEEN THE CITY AND PFM FINANCIAL ADVISORS LLC IN AN 6 ANNUAL NOT-TO-EXCEED AMOUNT OF $600,000; AND FOR ALL 7 OTHER PURPOSES. 8 9 WHEREAS, on November 18, 2025, the City Commission adopted Ordinance No. 25-036, 10 creating Section 2-60 of the City Code of Ordinances entitled "Public-Private Partnerships," 11 establishing procedures for public-private partnerships and unsolicited proposals, and aligning 12 the City Code with Section 255.065, Florida Statutes, as amended by Florida HB 781 (2024); and 13 WHEREAS,following the adoption of Ordinance No. 25-036, the City has begun to receive 14 public-private partnership proposals from private entities; and 15 WHEREAS, Section 255.065, Florida Statutes, and Section 2-60 of the City Code obligate 16 the City to independently evaluate the financial merits of any public-private partnership proposal, 17 to conduct value-for-money analyses as required, and to make certain financial determinations 18 prior to approving any interim or comprehensive agreement; and 19 WHEREAS, the City requires independent financial advisory and analytical services to 20 support these obligations, and the City Commission finds that such analysis is more appropriately 21 performed by an independent outside firm having no role in developing, sponsoring, or 22 administering the projects it reviews; and 23 WHEREAS, on April 6, 2026, the City advertised Request for Proposals ("RFP") No. 26-053R 24 for Strategic P3 Financial Advisory Services, which closed on April 29, 2026; and 25 WHEREAS, three (3) proposals were received from Altus Group Limited, PFM Financial 26 Advisors LLC of Coral Gables, Florida, and Taft Infrastructure Advisors in response to the 27 solicitation, each of which passed compliance review and was determined responsive to the 28 requirements of the Request for Proposals; and 29 WHEREAS, an Evaluation Committee reviewed, scored, and ranked the proposals at 30 publicly noticed meetings held on June 16, 2026, and June 26, 2026, and ranked PFM Financial 31 Advisors LLC ("Consultant") as the highest-ranked proposer; and RESOLUTION NO. R26-177 32 WHEREAS, the City conducted a publicly noticed negotiation meeting on August 7, 2026, 33 and requested a Best and Final Offer, which PFM Financial Advisors LLC submitted on that date; 34 and 35 WHEREAS, the City Commission, upon the recommendation of staff, has deemed it in the 36 best interests of the City's citizens and residents to award RFP No. 26-053R for Strategic P3 37 Financial Advisory Services to PFM Financial Advisors LLC, and approve an Agreement between 38 the City and PFM Financial Advisors LLC in an annual not-to-exceed amount of $600,000. 39 40 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOYNTON 41 BEACH, FLORIDA, THAT: 42 SECTION 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as 43 being true and correct and are hereby made a specific part of this Resolution upon adoption. 44 SECTION 2. The City Commission of the City of Boynton Beach, Florida, does hereby 45 award RFP No. 26-053R for Strategic P3 Financial Advisory Services to PFM Financial Advisors LLC. 46 SECTION 3. The City Commission of the City of Boynton Beach, Florida, does hereby 47 approve an Agreement for RFP No. 26-053R for Strategic P3 Financial Advisory Services between 48 the City and PFM Financial Advisors LLC in an annual not-to-exceed amount of $600,000 (the 49 "Agreement"), in form and substance similar to that attached as Exhibit A. 50 SECTION 4. The City Commission of the City of Boynton Beach, Florida, hereby 51 authorizes the Mayor to execute the Agreement. The Mayor/City Manager are further authorized 52 to execute any ancillary documents required under the Agreement or necessary to accomplish the 53 purposes of the Agreement, including any term extensions as provided in the Agreement, 54 provided such documents do not modify the financial terms or material terms. 55 SECTION 5. The City Commission of the City of Boynton Beach, Florida, hereby 56 authorizes the City Manager to execute any Task Orders in accordance with the City's procurement 57 policy thresholds; and 58 SECTION 6. The City Clerk shall retain the fully executed Agreement as a public record 59 of the City. A copy of the fully executed Agreement shall be provided to Andrew Rozwadowski to RESOLUTION NO. R26-177 60 forward to the Consultant. 61 SECTION 7. This Resolution shall take effect in accordance with the law. 62 [SIGNATURES ON THE FOLLOWING PAGE] 63 RESOLUTION NO. R26-177 \\ 64 PASSED AND ADOPTED this \(p day of `>QC�'CP m \Qv- 2026. 65 CITY OF BOYNTON BEACH, FLORIDA 66 YES NO 67 Mayor- Rebecca Shelton V 68 69 Vice-Mayor-Thomas Turkin ✓ 70 71 Commissioner-Angela Cruz ✓ 72 73 Commissioner- Mack McCray ✓ 74 75 Commissioner-Aimee Kelley 76 77 VOTE - 01 78 ATTEST: 79 80 2C, /_/ 81 Tammy Stanz,�one, CMC v ebecca Shelton 82 City Clerk NroN``�4 Mayor 83 = ov 84 f�� 1.•��..P...... •�f%1 APPROVED AS TO FORM: 85 (Corporate Seal gt; - • cl 86 SEAL % 87 � ;INCORPORATED; i kAaigt i gine 1920 88 � Shawna G. Lamb 89 '\, FLOR\OP= City Attorney TERM AGREEMENT - PROFESSIONAL SERVICES CONSULTANT STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) RFP No. 26-053R G, • W. NIR 1111111111111111t'''' Z o Cl To N RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 1 STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) RFP No. 26-053R AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND PFM FINANCIAL ADVISORS LLC,FOR CONTINUING STRATEGIC P3 FINANCIAL ADVISORY CONSULTING/PROFESSIONAL SERVICES This Agreement is made as of this day of ,2026,by and between PFM Financial Advisors LLC, a limited liability company authorized to transact business in the State of Florida,with a principal address of 2222 Ponce de Leon Boulevard,3rd Floor,Coral Gables,Florida 33134,hereinafter referred to as"Consultant," and the City of Boynton Beach,a municipal corporation organized and existing under the laws of Florida,with a business address of 100 East Ocean Avenue,Boynton Beach,Florida 33435,hereinafter referred to as"City." In consideration of the mutual benefits,terms, and conditions hereinafter specified,the Parties agree as set forth below. WHEREAS, on November 18, 2025,the City Commission adopted Ordinance No.25-036 on second and final reading, creating Section 2-60 of the City Code of Ordinances, entitled "Public-Private Partnerships," which establishes the City's procedures for receiving,evaluating,and acting upon public-private partnership ("P3")and unsolicited proposals and aligns the City Code with Section 255.065, Florida Statutes;and WHEREAS, Section 2-60 of the City Code does not merely permit the City to consider P3 proposals, but imposes affirmative analytical obligations upon the City and upon the City Commission;and WHEREAS,Section 2-60(g)of the City Code requires a value-for-money analysis for any qualifying project with estimated costs of $50,000,000 or more, comparing the P3 approach to traditional procurement, and further provides that the City Manager or the City Commission may require a value-for-money analysis for a project of any size,regardless of cost;and WHEREAS, Section 2-60(e)(2) of the City Code provides that the evaluation committee established to review and rank P3 proposals may include subject matter experts and consultants in addition to City staff;and WHEREAS,Section 2-60(f)of the City Code permits the City Commission to proceed with an unsolicited proposal outside the competitive process only after two duly noticed public meetings and the publication of a public-interest determination addressing, among other factors, the financial structure and economic efficiencies of the proposal;and WHEREAS, Section 2-60(h) of the City Code requires the City Commission, before approving any comprehensive agreement,to make eight affirmative determinations,several of which are financial in nature, including that the private entity possesses appropriate qualifications and financial capacity and a reasonable finance plan,that adequate safeguards exist to protect against additional public costs or service disruption in the event of material default or cancellation,and that the project cost is reasonable in corn parison to similar facilities;and WHEREAS,each of the foregoing determinations rests upon financial analysis that the City is not presently equipped to produce internally,and the financial advisory services procured under this Agreement supply the analytical basis upon which the City Manager and the City Commission may make them;and WHEREAS, the City issued Solicitation No. 26-053R, Strategic P3 Financial Advisory Services (the "Solicitation"),pursuant to state and local law to solicit proposals for Strategic P3 Financial Advisory Services (the"Services"),which Solicitation was advertised and released on April 6,2026;and RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 2 WHEREAS, Addendum No. 1 to the Solicitation was issued on April 22, 2026, responding to proposer inquiries;and WHEREAS, the Solicitation closed on April 29, 2026 at 3:00 p.m., and three (3) proposals were received, from Altus Group Limited, PFM Financial Advisors LLC of Coral Gables, Florida, and Taft Infrastructure Advisors; and WHEREAS, Procurement Services conducted a compliance review of each submission, and all three (3) proposals passed compliance and were determined responsive to the requirements of the Solicitation; and WHEREAS, a three-member Evaluation Committee was appointed to review, score, and rank the proposals in accordance with the evaluation criteria published in the Solicitation,with Procurement Services conducting the compliance review and scoring the Local Business Preference criterion; and WHEREAS, a Pre-Evaluation Meeting was held on June 16,2026,which meeting was publicly noticed and open to the public, and at which the Evaluation Committee was oriented to the scope of the Solicitation, the evaluation criteria,and the requirements of the Sunshine Law and the City's procurement integrity provisions; and WHEREAS, an Evaluation Meeting was held on June 26, 2026, which meeting was publicly noticed and open to the public, and at which the Evaluation Committee evaluated and ranked all three (3) proposals, ranked PFM Financial Advisors LLC first,and authorized staff to enter into negotiations with the highest-ranked firm;and WHEREAS, a Negotiation Meeting was held on August 7, 2026, at which the City and Consultant negotiated hourly rates,phase pricing,reimbursable expense limits,and contract terms,and at which the City requested a Best and Final Offer, which meeting was publicly noticed and closed to the public and was recorded in its entirety for the record,consistent with the competitive-solicitation negotiation exemption under Section 286.0113(2), Florida Statutes;and WHEREAS, Consultant responded to the Solicitation by submitting its Proposal dated April 29, 2026, as supplemented by its updated Best and Final Offer dated August 7, 2026, reflecting the negotiated terms (collectively,the"Proposal"); and WHEREAS, following evaluation of all proposals received, the City Commission determined that Consultant is the best qualified to provide the Services; and WHEREAS, on September 16, 2026, the City Commission awarded Solicitation No.26-053R to Consultant by Resolution No. R26-i'll;and WHEREAS, the City desires to engage Consultant to provide such Services to the City on an as-needed basis according to the terms and subject to the conditions set forth in this Agreement. NOW THEREFORE,for and in consideration of the mutual covenants and promises as hereinafter set forth and of the faithful performance of such covenants and conditions, the City and Consultant do hereby agree as follows: 1. SERVICES AND METHOD OF ORDERING SERVICES. Services. Consultant shall provide the type of services described in the Scope of Services attached hereto as Exhibit A(which services are hereinafter referred to as the"Services"). Consultant may be RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 3 requested to provide specific Services for various tasks or projects.The Consultant shall render the Services in a diligent, careful, thorough, and professional manner, consistent with sound business practices, and shall at all times provide the City with the most sound and reasonable recommendations and advice. The standard of care for all Services performed or furnished by the Consultant under this Agreement will be the care and skill ordinarily used by members of the Consultant's profession practicing under similar circumstances or at the same time and in the same locality.Consultant acknowledges that this is an as-needed agreement,and that award of this Agreement to Consultant does not guarantee work will be requested by City,and City's election not to issue Task Order(s)shall not be deemed a breach of this Agreement, nor shall Consultant be entitled to any claim for lost profits,lost opportunities,or other damages based on the City's decision to obtain similar or identical services from others or not to issue Task Orders. Method of Ordering Services.Services will be rendered in response to periodic written Task Orders (each a"Task Order")issued by the City on an as-needed basis.For each task or assignment,the City shall request the Consultant to develop for review by the City: A scope of services; a. An estimate of fees and costs based on the hourly rates established in this Agreement with sufficient detail to identify the various elements of costs, which amount shall constitute a guaranteed maximum and shall not be exceeded without the prior written approval of City; b. A task/deliverable schedule;and c. A payment schedule based on deliverables,which may not be front-loaded. d. The Consultant and City shall execute a written Task Order upon mutual agreement of the scope of services,fees and costs,task/deliverable schedule,and payment schedule.City shall not be liable to pay for any Services provided without a properly executed Task Order. Upon complete execution of a Task Order and issuance of a Purchase Order, Consultant shall provide all Services described in the Task Order, including all necessary, incidental, and related activities required for the full and complete performance of such Services.The form of the Task Order is attached hereto as Exhibit B. Any Task Order exceeding the then-current procurement policy threshold shall require approval from the City Commission.. e. Use of Subconsultants. Consultant shall utilize only the subconsultants identified in a Task Order to provide the Services. Consultant shall obtain written approval of the City before changing or modifying any subconsultants, which shall be automatically updated upon such written approval. Consultant shall bind in writing every approved subconsultant to the terms stated in this Agreement and the applicable Task Order, provided that this provision shall not,in and of itself, impose the insurance requirements set forth in Article 23 on Consultant's subconsultants. f. Correction of Deficiencies: Non-Compensable Rework. Consultant shall,without additional compensation, promptly correct any errors, omissions, deficiencies, or negligent acts in the Services, including any Deliverables, documents, or work product. Consultant shall be responsible for all costs associated with corrections, redesign, revisions, or other remedial services required due to Consultant's or its subconsultants' failure to comply with the professional standard of care outlined in this Agreement. Failure to correct deficiencies within a reasonable time,as determined by the City,shall constitute a material breach of this Agreement. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 4 2. TERM. This Agreement shall be for an initial term of THREE(3)years,commencing as identified on the cover page and approved by the Mayor and City Commission and shall remain in effect for THREE (3)years unless otherwise terminated or extended as provided in this Agreement.The City reserves the right to renew the Agreement for ONE (1) additional TWO (21-YEAR TERM ("Extension Term") on the same terms and conditions stated in this Agreement, subject to Consultant's satisfactory performance as determined by the City,and determination by the City that renewal will be in the best interest of the City. The Initial Term and any Extension Term(s) are collectively referred to as the "Term."The City Manager is authorized to execute the term extension amendment(s). If Consultant requests a rate change at the time of renewal, such change shall not become effective until a written amendment is approved by the City Commission and duly executed by the Parties. 3. TIME FOR PERFORMANCE. A. COMMENCEMENT OF WORK. Services under the Agreement and any applicable Task Order shall commence upon the City giving written notice to the Consultant to proceed,along with a purchase order.Consultant shall perform all Services and provide all deliverables required pursuant to this Agreement and each Task Order.Time is of the essence for the Consultant's performance of the duties, obligations, and responsibilities required by this Agreement. B. DELAYS; UNTIMELY PERFORMANCE. a Delays: No Fault of Consultant. If Consultant is unable to timely complete all or any portion of the Services because of delays resulting from untimely review by the City or other governmental agencies having jurisdiction over the project and such delays are not the fault of Consultant, or because of delays caused by factors outside the control of Consultant, the City shall grant a reasonable extension of time for completion of the Services. It shall be the responsibility of the Consultant to notify the City in writing whenever a delay in approval by a governmental agency is anticipated or experienced and whenever a delay has been caused by factors outside of the Consultant's control and to inform the City of all facts and details related to the delay. Consultant must provide such written notice to the City within three (3) business days after the occurrence of the event causing the delay. b. Delays Due to Consultant. If Consultant fails to substantially complete the Services in whole or in part on or before the date established in each Task Order, Consultant shall pay City its proportional share of any claim for damages arising from the delay.This section shall not affect either Party's indemnification rights or obligations otherwise outlined in this Agreement. C. IF TASK ORDER CONTINUES BEYOND TERM. Consultant shall complete each executed Task Order without regard to whether such completion would cause Services to be performed after the expiration date of this Agreement.Any Task Order for which performance extends beyond the Term may be amended after that expiration date, provided that any additional Services,time,and compensation are permitted under this Agreement.The terms and conditions of this Agreement shall continue to govern Task Orders notwithstanding the expiration of this Agreement. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 5 4. AMOUNT AND METHOD OF COMPENSATION. a. Compensation.As compensation for Services rendered by Consultant to the City pursuant to a duly executed Task Order,the City shall pay the Consultant an annual amount not to exceed Six Hundred Thousand and 00/100 Dollars ($600,000.00) ("Fee") calculated based on the anniversary date of complete execution of the Agreement. The Fee is based on the Hourly Rates outlined in the Fee Schedule attached hereto as Exhibit C and incorporated into this Agreement by reference. The Fee shall be the sole compensation paid to Consultant in connection with the rendition of the Services and the performance of any and all of its other obligations under this Agreement and shall include any out-of-pocket or other expenses,including travel expenses, incurred by Consultant. b. Subconsultant Fees. If subconsulting is permitted, the Consultant shall bill the City for subconsultant fees with no markup and within any applicable maximum not-to-exceed amount. 5. NOTICES. All Notices to the City shall be in writing by certified mail return receipt requested, or customarily used overnight transmission with proof of delivery,sent to: City: Daniel Dugger,City Manager City of Boynton Beach P.O.Box 310 Boynton Beach,Florida 33425 Telephone:(561)742-6010/Facsimile:(561)742-6090 Copy: Shawna G. Lamb,City Attorney City of Boynton Beach P.O.Box 310 Boynton Beach,Florida 33425 Telephone:(561)742-6010/Facsimile:(561)742-6090 Consultant: PFM Financial Advisors LLC Attn:Sergio Masvidal,Managing Director 2222 Ponce de Leon Boulevard,3rd Floor Coral Gables, Florida 33134 Telephone:786.671.7480 Email: masvidals@pfm.com 6. INVOICES AND PAYMENT. Invoices must identify the PO number and Task Order project description,and should be emailed to: COBBInvoicesabbfLus Invoice Requirements and Supporting Documentation. Invoices shall show the nature of the service and the dates of service. Invoices based on hourly rates shall show the actual hours worked,the person performing services,the nature of the service,the hourly rate, and the dates of service.All invoices shall be accompanied by detailed supporting documentation, including labor categories, subconsultant invoices, receipts for reimbursable expenses (if allowed), and other records reasonably required by the City.Invoices may be submitted after such services are performed;however,all services rendered before RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 6 September 30th of any given year must be invoiced by September 30th of that year. Consultant shall provide a W-9 with the first invoice. Disallowed Costs.Withholding Payment. Consultant shall not invoice the City for(i) costs incurred to correct errors, omissions, or deficiencies; (ii) costs resulting from unauthorized work; (iii) internal administrative costs not directly attributable to performance of the Services. The City may withhold payment of any invoice lacking sufficient backup documentation until such documentation is provided. Additionally,the City may withhold payment,in whole or in part,for unsatisfactory performance,failure to meet schedule requirements, failure to correct deficiencies, or reasonable concerns regarding compliance with the Agreement. Payment. Payment shall be made only for services actually performed and completed under a duly executed Task Order and this Agreement. The Fee shall be paid based on receipt of a proper invoice in accordance with the invoice schedule indicated above. Payment will be made within 45 days of receipt of a proper invoice in accordance with the Local Government Prompt Payment Act, Section 218.70, et al., Florida Statutes. No payment made under this Agreement shall be conclusive evidence of the performance of this Agreement by Consultant,either wholly or in part,and no payment shall be construed to be an acceptance of or to relieve Consultant of liability for the defective,faulty,or incomplete rendition of the Services. 7. TAX EXEMPT. Prices applicable to the City do not include applicable state and local sates, use, and related taxes.The City is exempt from state and local sales and use taxes and shall not be invoiced for the same.The City will provide the Consultant with proof of tax-exempt status upon request. 8. SOVEREIGN IMMUNITY. Nothing contained in this Agreement nor contained herein shall be considered nor construed to waive the City's rights and immunities under the common law or section 768.28, Florida Statutes, as may be amended. 9. ATTORNEY'S FEES. If either Party brings suit to enforce the Agreement,each Party shall bear its own attorney's fees and court costs.This does not apply to Consultant's indemnification obligations. io. PUBLIC RECORDS. The City is a public agency subject to Chapter 119, Florida Statutes. The Consultant shall comply with Florida's Public Records Law.Specifically,the Consultant shall: a Keep and maintain public records required by the City to perform the service when utilizing non-City- owned equipment; h Upon request from the City's custodian of public records,provide the City with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in Chapter 119, Fla.Stat.,or as otherwise provided by law; c Ensure that public records that are exempt or that are confidential and exempt from public record disclosure requirements are not disclosed except as authorized by law for the duration of the contract Term and, following completion of the contract, Consultant shall destroy all copies of such confidential and exempt records remaining in its possession once the Consultant transfers the records in its possession to the City;and d Upon completion of the contract,Consultant shall transfer to the City,at no cost to the City,all public records in Consultant's possession.All records stored electronically by Consultant must be provided RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 7 to the City, upon request from the City's custodian of public records, in a format compatible with the City's information technology systems. IF THE CONSULTANT HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE CONSULTANT'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS: CITY CLERK'S OFFICE 100 E. OCEAN AVENUE BOYNTON BEACH, FLORIDA, 33435 561-742-6060 CitvClerk@bbfl.us 11. DISCRIMINATORY VENDOR AND SCRUTINIZED COMPANIES LISTS; COUNTRIES OF CONCERN. Consultant represents that it has not been placed on the "discriminatory vendor list" as provided in Section 287.134,Florida Statutes,and that it is not a"scrutinized company"pursuant to Sections 215.473 or 215.4725,Florida Statutes.Consultant represents and certifies that it is not,and for the duration of the Term,will not be, ineligible to contract with City on any of the grounds stated in Section 287.135, Florida Statutes.Consultant represents that it is,and will remain for the duration of the Term,in compliance with Section 286.101,Florida Statutes. 12. E-VERIFY. Consultant shall comply with Section 448.095, Fla. Stat., "Employment Eligibility," including registering and using the E-Verify system to verify the work authorization status of employees. Failure to comply with Section 448.095, Fla. Stat., shall result in termination of this Agreement. Any challenge to termination under this provision must be filed in the Circuit Court no later than 20 calendar days after the termination date. If this Agreement is terminated for the Consultant's violation of the statute, the Consultant may not be awarded a public contract for one(1)year after the termination date. 13. ENTITIES OF FOREIGN CONCERN. The provisions of this section apply only if Consultant or any subconsultant will have access to an individual's personal identifying information under this Agreement.Consultant represents and certifies:(i) Consultant is not owned by the government of a foreign country of concern;(ii)the government of a foreign country of concern does not have a controlling interest in Consultant;and(iii)Consultant is not organized under the laws of and does not have its principal place of business in,a foreign country of concern.On or before the effective date of this Agreement, Consultant and any subconsultant that will have access to personal identifying information shall submit to City executed affidavit(s) under penalty of perjury, in a form approved by City, attesting that the entity does not meet any of the criteria in Section 287.138(2), Florida Statutes. Compliance with the requirements of this section is included in the requirements for a proper invoice, as outlined in Section 6.Terms used in this section that are not otherwise defined in this Agreement shall have the meanings ascribed to such terms in Section 287.138, Florida Statutes. 14.ANTI-HUMAN TRAFFICKING. On or before the effective date of this Agreement,Consultant shall provide City with an affidavit attesting that the Consultant does not use coercion for labor or services, in accordance with Section 787.06(13), Florida Statutes. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 8 15. PUBLIC ENTITY CRIME ACT. Consultant represents that it is familiar with the requirements and prohibitions under the Public Entity Crime Act, Section 287.133, Florida Statutes, and represents that its entry into this Agreement will not violate that Act. Consultant further represents that there has been no determination that it committed a "public entity crime" as defined by Section 287.133, Florida Statutes, and that it has not been formally charged with committing an act defined as a "public entity crime" regardless of the amount of money involved or whether Consultant has been placed on the convicted vendor list. 16. CONTINGENCY FEE. Consultant represents and warrants that it has not employed or retained any person or entity, other than a bona fide employee working solely for Consultant,to solicit or secure this Agreement and that it has not paid or agreed to pay any person or entity, other than a bona fide employee working solely for Consultant, any fee,commission, percentage,gift,or other consideration contingent upon or resulting from the award or making of this Agreement. 17.TRUTH-IN-NEGOTIATION REPRESENTATION. Consultant's compensation under this Agreement is based upon its representations to City. Consultant certifies that the wage rates, factual unit costs, and other information supplied to substantiate Consultant's compensation, including, without limitation, in the negotiation of this Agreement, are accurate, complete, and current as of the date Consultant executes this Agreement. Consultant's compensation may be reduced by City, in its sole discretion, to correct any inaccurate, incomplete, or noncurrent information provided to City as the basis for Consultant's compensation in this Agreement. 18. DULY LICENSED. Consultant represents that it is duly licensed to perform the Services under this Agreement and will continue to maintain all licenses and approvals required to conduct its business. 19. FORCE MAJEURE. If the performance of this Agreement, or any obligation hereunder, is prevented by reason of hurricane, earthquake, or other casualty caused by nature, epidemic, pandemic, or other public health emergency, or by labor strike,war,or by a law,order, proclamation,regulation,ordinance of any governmental agency (collectively, "Force Majeure Event"),the Party so affected, upon giving prompt notice to the other Party, shall be excused from such performance to the extent of such prevention, provided that the affected Party shall first have taken reasonable steps to avoid and remove such cause of non-performance and shall continue to take reasonable steps to prevent and remove such cause, and shall promptly notify the other Party in writing and resume performance hereunder whenever such causes are removed; provided, however, that if such inability to perform due to the Force Majeure Event exceeds sixty(60) consecutive days, the Party that was not prevented from performance by the Force Majeure Event has the right to terminate this Agreement upon written notice to the other Party. This section shall not supersede or preclude the exercise of any right either Party may otherwise have to terminate this Agreement. 2o.VENUE, JURISDICTION, WAIVER OF JURY TRIAL. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. Any legal action, suit, or proceeding arising out of or relating to this agreement shall be instituted in the appropriate state court in Palm Beach County,Florida,and each Party irrevocably submits to the exclusive jurisdiction of such court in any such action, suit, or proceeding. Any disputes that arise between the parties regarding the performance of this agreement and cannot be resolved through negotiations shall be submitted to a court of competent jurisdiction exclusively in Palm Beach County, Florida.This Agreement shall be construed under Florida Law. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY, AND RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 9 INTENTIONALLY WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION OR LEGAL PROCEEDING RELATED TO THIS AGREEMENT OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS(WHETHER VERBAL OR WRITTEN), OR ACTIONS OF EITHER PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AGREEMENT. 21.SUSPENSION AND TERMINATION. A. TERMINATION. 1. Termination for Convenience. The City may terminate this Agreement for convenience upon fourteen (14)calendar days of written notice. In this event,the Consultant shall be compensated for services performed through the termination date, including services reasonably related to termination. 2. Termination for Cause. In addition to all other remedies available to the aggrieved Party, this Agreement shall be subject to cancellation by either Party for cause, should the other Party neglect or fail to perform or observe any of the terms, provisions, conditions, or requirements herein contained, if such neglect or failure shall continue for thirty (30) calendar days after receipt by the defaulting Party of written notice of such neglect or failure. 3. TERMINATION TO PROTECT HEALTH,SAFETY,OR WELFARE The City Manager may also terminate this Agreement upon such notice as the City Manager deems appropriate under the circumstances in the event the City Manager determines that termination is necessary to protect the public health, safety, or welfare. REMEDIES No remedy herein conferred upon any party is intended to be exclusive of any other remedy, and each such remedy shall be cumulative and shall be in addition to every other remedy given hereunder now or hereafter existing at law,or in equity,by statute or otherwise. No single or partial exercise by any party of any right, power, or remedy hereunder shall preclude any other or further exercise thereof. B. FUNDING OUT This result of this Agreement shall remain in full force and effect only if the expenditures provided for in the Agreement have been appropriated by the City Commission of the City of Boynton Beach in the annual budget for each fiscal year of this Agreement and is subject to termination based on lack of funding. C. NOTICE OF TERMINATION Notice of termination shall be provided in accordance with the "Notices" section of this Agreement, except that notice of termination by the City Manager, which the City Manager deems necessary to protect the public health, safety, or welfare may be verbal notice that shall be promptly confirmed in writing in accordance with the"Notices"section of this Agreement. In the event of termination, the City shall compensate the Consultant for all authorized work satisfactorily performed through the termination date under the payment terms contained in this Agreement.Consultant shall immediately deliver all documents,written information,electronic data, RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 10 and other materials concerning City projects in its possession to the City and shall cooperate in transitioning its consulting duties to appropriate parties at the direction of the City. Upon termination,this Agreement shall have no further force or effect,and the Parties shall be relieved of all further liability hereunder,except that the provisions of this section and the provisions regarding property rights, insurance, indemnification, governing law, litigation, confidential information and generative artificial intelligence, data security, audit and records, rights in documents and work, limitation of liability,and any other provisions that by their nature are intended to survive,shall survive termination of this Agreement and remain in full force and effect. D. SUSPENSION OF WORK. Suspension for Convenience.The City may,at any time and for any reason,suspend all or any portion of the Services by providing written notice to Consultant. Upon such notice, Consultant shall immediately discontinue performance,take reasonable steps to minimize costs, and protect all work product. Compensation Upon Suspension. Consultant shall be compensated for Services satisfactorily performed through the effective date of suspension. No compensation shall be paid for Services performed after suspension unless expressly authorized in writing by the City. Resumption. If the City directs Consultant to resume work, Consultant shall promptly recommence performance. Consultant shall not be entitled to an adjustment in compensation or schedule due to the suspension unless expressly authorized in a written amendment. 22. INDEMNIFICATION. Consultant shall indemnify and hold harmless the City and its elected and appointed officers, agents, assigns and employees, consultants, separate Consultants, any of their subconsultants, or sub- subconsultants (collectively, "Indemnified Party"), from and against claims, demands, or causes of action whatsoever,and the resulting losses,damages,costs,and expenses,including but not limited to attorneys' fees, including paralegal expenses, liabilities, damages, orders, judgments, or decrees, sustained by the Indemnified Party arising out of or resulting from (A) Consultant's performance or breach of Agreement, (B) negligent or intentionally wrongful acts or omissions, by Consultant's, its agents,employees,subcontractors,subconsultants,participants,and volunteers,and(C)Consultant's failure to take out and maintain insurance as required under this Agreement. Consultant shall pay all claims and losses in connection therewith and shall investigate and defend all claims, suits, or actions of any kind or nature against an Indemnified Party, where applicable, including appellate proceedings, and shall pay all costs,judgments,and attorneys'fees which may issue thereon.The obligations of this section shall survive indefinitely regardless of termination of the Agreement. If, in the opinion of the City and the City Attorney, it is necessary, the City may retain any sums due the Consultant under this Agreement until all claims subject to this indemnification obligation have been settled or otherwise resolved.Any amount withheld shall not be subject to payment of interest by the City. 23. INSURANCE. At the time of execution of this Agreement, the Consultant shall provide the City with a copy of Consultant's insurance certificate evidencing the required coverage set forth in Exhibit D. Consultant shall maintain insurance in the amounts as required in Exhibit D during the entire Term of the Agreement. The Certificate of Insurance shall name the City of Boynton Beach and its officers, employees,and agents as additional insured. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 11 24. LIMITATION OF LIABILITY. Notwithstanding any provision of the Agreement to which it is applicable, City shall not be liable or responsible to Consultant beyond the amount remaining due to Consultant under the Agreement, regardless of whether said liability be based in tort,contract,indemnity,or otherwise;and in no event shall City be liable to Consultant for punitive or exemplary damages or lost profits or consequential damages. 25. INDEPENDENT CONTRACTOR. The Agreement does not create an employee/employer relationship between the Parties. The Parties intend that Consultant is an independent contractor under this Agreement and shall not be considered the City's employee for any purpose. Consultant shall not have the right to bind City to any obligation not expressly undertaken by City under this Agreement 26.COMPLIANCE WITH LAWS. Consultant hereby warrants and agrees that at all times material to the Agreement, Consultant shall comply with all applicable federal,state,and local laws,rules,and regulations,including section 501.171, Florida Statutes. Non-compliance may constitute a material breach of the Agreement. 27. BREACH OF REPRESENTATIONS. Consultant acknowledges that City is materially relying on the representations, warranties, and certifications of Consultant stated in its Proposal and this Agreement,and City shall be entitled to exercise any or all of the following remedies if any such representation, warranty, or certification is untrue: (a) recovery of damages incurred;(b)termination of this Agreement without any further liability to Consultant; (c)set off from any amounts due Consultant the total amount of any damage incurred;and (d)debarment of Consultant. 28.ASSIGNMENT. If this Agreement and any interests granted herein shall be assigned, transferred, or otherwise encumbered under any circumstances by Consultant, Consultant must gain prior written consent from City thirty (30) business days before such transfer. If Consultant assigns or transfers this Agreement without the City's written consent,the Agreement shall,at the City's option,become null and void. 29. NO LIEN. The Consultant shall not at any time permit any lien, attachment, or any other encumbrance under the laws of the State of Florida, or otherwise, by any person or persons whomsoever to be filed or recorded against the City,against any City property,or money due or to become due for any work done or materials furnished under this Agreement by Consultant. 3o.AGREEMENT SUBJECT TO FUNDING. The Agreement shall remain in full force and effect only as long as the expenditures provided for in the Agreement have been appropriated by the City Commission of the City of Boynton Beach in the annual budget for each fiscal year of this Agreement,and is subject to termination based on lack of funding. 31. NON-EXCLUSIVE. This Agreement is non-exclusive.City may retain additional entities to perform the same or similar work. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 12 32. REPRESENTATION OF AUTHORITY. Consultant represents and warrants that this Agreement constitutes the legal, valid, binding, and enforceable obligation of Consultant and that neither the execution nor performance of this Agreement constitutes a breach of any agreement that Consultant has with any third party or violates applicable law. Consultant further represents and warrants that execution of this Agreement is within Consultant's legal powers, and each individual executing this Agreement on behalf of Consultant is duly authorized by all necessary and appropriate action to do so on behalf of Consultant and does so with full legal authority. 33.CONFIDENTIAL INFORMATION; GENERATIVE ARTIFICIAL INTELLIGENCE; AND DATA SECURITY. A. CONFIDENTIAL INFORMATION AND GENERATIVE ARTIFICIAL INTELLIGENCE. Unless expressly authorized in this Agreement, in a Task Order, or in writing in advance by the City, Consultant is strictly prohibited from disclosing, uploading, or otherwise making available to third parties, directly, or indirectly, including but not limited to through utilization of generative artificial intelligence tools, any exempt, confidential, sensitive security, or personal information of City. Consultant must ensure that any use of generative artificial intelligence tools by Consultant or its subconsultants does not involve the disclosure of exempt,confidential,sensitive security,or personal information, including, without limitation, for large language model learning or training. Consultant must implement and maintain appropriate technological and operational safeguards to ensure compliance with the obligations of this section. B. DATA SECURITY; CYBERSECURITY REQUIREMENTS. Consultant shall implement and maintain administrative, technical, and physical safeguards that comply with industry best practices and all applicable laws to protect City data from unauthorized access, disclosure, alteration, and destruction. Consultant shall notify the City in writing within 24 hours of discovering any actual or suspected security incident, breach, or unauthorized access involving City data. Consultant shall cooperate fully with the City in investigating, mitigating, and remediating the incident at Consultant's sole cost. Consultant shall ensure that all subconsultants comply with the requirements of this section. 34. RIGHTS IN DOCUMENTS AND WORK. A. OWNERSHIP. Any and all videos, photographs, documents, materials, data,or other work created by Consultant in connection with performing services, whether finished or unfinished ("Documents and Work"), shall be owned by City, and Consultant hereby transfers to City all right, title, and interest, including any copyright or other intellectual property rights, in or to the Documents and Work. B. INTELLECTUAL PROPERTY WARRANTY; INFRINGEMENT INDEMNITY. 1. IP Warranty. Consultant represents and warrants that all Documents and Work provided under this Agreement are(i)original to Consultant, or(ii) properly licensed for use and reuse by the City.Consultant shall provide copies of all applicable licenses to the City upon request. 2. Infringement Indemnity. Consultant shall indemnify, defend, and hold harmless the City from and against any and all claims, damages, losses, liabilities, and expenses, including attorneys' fees, arising out of any actual or alleged infringement of any patent, copyright, RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 13 trademark, trade secret, or other proprietary right related to the Documents and Work provided by Consultant or its subconsultants. 3. Correction of Infringing Work. If any portion of the Documents and Work is held to infringe, Consultant shall, at its sole expense and without delay: (i) secure for the City the right to continue using the Documents and Work; (ii) replace the Documents and Work with non- infringing equivalents acceptable to the City;or(iii)modify the Documents and Work to make them non-infringing while retaining equivalent functionality. a. Deliverables Upon Conclusion of Task Order. Consultant shall deliver to the City for approval and acceptance, and before being eligible for final payment of any amounts due under any Task Order, all documents and materials prepared for the City in connection with the Task Order. All such documents and records shall be provided within a reasonable time at no additional cost. Such documents may be provided electronically. b. Delivery Upon Expiration or Termination of Agreement. Upon expiration or termination of this Agreement,the Documents and Work shall become the property of City and shall be delivered by Consultant to City within seven (7) days after expiration or termination.Any compensation due to Consultant may be withheld until all Documents and Work are received as provided in this Agreement. Consultant shall ensure that the requirements of this section are included in all agreements with all subconsultant(s). c. Reuse of Project Documents.City may,at its option, reuse(in whole or in part)the resulting end-product or deliverables resulting from Consultant's Services (including, but not limited to, drawings, specifications, other documents, and services as described herein and in the applicable Scope of Services for any Task Order);and Consultant agrees to such reuse in accordance with this provision. d. Prohibition on Sale or Commercialization of City Information. Consultant shall not sell, lease, license, distribute, commercialize, or otherwise monetize any City data, information, documents, or materials obtained or created in connection with this Agreement, including but not limited to confidential information, proprietary data,records,databases,or any other information belonging to or relating to the City, its operations, or its constituents, and shall not use any City information for any commercial purpose unrelated to the performance of Services under this Agreement. This prohibition shall survive the expiration or termination of this Agreement, and Consultant shall include substantially similar restrictions in all agreements with subconsultants who may have access to City information. 35.CONSULTANT'S STAFF. Consultant will provide the key staff identified in its Proposal as long as they are in Consultant's employment. Consultant acknowledges that the City selected Consultant based in part on the qualifications and experience of the key personnel identified in Consultant's Proposal. Consultant shall not remove,reassign,or replace any key personnel without the City's prior written approval.The City may deny approval if the proposed replacement lacks equivalent qualifications or experience, based on reasonable standards. Consultant shall be solely responsible for any delays or additional costs resulting from changes to key personnel.If City desires to request the removal of any of Consultant's staff,City shall first meet with Consultant and provide reasonable justification for said removal; upon such reasonable justification,Consultant shall use good faith efforts to remove or reassign the staff at issue. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 14 36.AUDIT AND RECORDS. A. MAINTENANCE OF RECORDS. Consultant shall maintain complete and accurate books, documents, accounting records, financial records, project files, correspondence, subconsultant files, and other evidence relating to performance of the Services ("Records"). Records shall be maintained in accordance with generally accepted accounting principles and industry standards. B. RETENTION. Consultant shall retain all Records for a period of five (5) years after the latest of: (i) final payment under this Agreement,(ii)expiration of the Agreement,or(iii)resolution of any dispute arising from this Agreement. C. AUDIT RIGHTS. The City and its duly authorized representatives may audit,inspect,examine,and copy the Records at any time during normal business hours upon reasonable notice. Such audits may include review of direct and indirect costs, overhead, multipliers, subconsultant invoices, and supporting documentation. D. COSTS DISALLOWED. If an audit reveals overcharges, unallowable costs, or other amounts improperly invoiced, the Consultant shall promptly refund such amounts to the City. The City may withhold payment, offset against future invoices, or pursue any legal remedy to recover disallowed costs. E. COOPERATION. Consultant shall cooperate fully with all audit activities and shall ensure that subconsultants comply with the requirements of this article. 37.THIRD-PARTY BENEFICIARIES. Neither Consultant nor City intends to primarily or directly benefit a third party by this Agreement. Therefore,the Parties acknowledge that there are no third-party beneficiaries to this Agreement and that no third party shall be entitled to assert a right or claim against either of them based upon this Agreement. 38. MATERIALITY AND WAIVER OF BREACH. Each requirement, duty, and obligation set forth in this Agreement was bargained for at arm's length and is agreed to by the Parties. Each requirement,duty,and obligation set forth in this Agreement is substantial and essential to the formation of this Agreement, and each is,therefore, a material term. City's failure to enforce any provision of this Agreement shall not be deemed a waiver of such provision or a modification of this Agreement. A waiver of any breach shall not be deemed a waiver of any subsequent breach and shall not be construed as a modification of this Agreement.To be effective, any waiver must be in writing and signed by an authorized signatory of the Party granting the waiver. 39. COUNTERPARTS AND MULTIPLE ORIGINALS. This Agreement may be executed in multiple originals and may be executed in counterparts, whether signed physically or electronically,each of which shall be deemed to be an original,but all of which,taken together,shall constitute one and the same agreement. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 15 40. HEADINGS. The headings contained in this Agreement are for the convenience of reference only and shall not affect the interpretation of this Agreement. 41. NON-DISCRIMINATION. Consultant and any subconsultants shall not discriminate on the basis of race, color, sex, religion, national origin,disability,age, marital status,political affiliation,sexual orientation,pregnancy,or gender identity and expression in the performance of this Agreement. 42. PROHIBITION ON USE OF CITY'S NAME IN MARKETING Consultant shall not use the City's name,logo,seal,or any reference to this Agreement in any advertising, marketing materials, client lists, press releases, or public statements without the City's prior written approval. 43. CONFLICT OF INTEREST. Consultant warrants that, to the best of its knowledge, no conflict of interest exists with respect to the performance of this Agreement. Consultant shall promptly disclose any actual or potential conflict of interest to the City in writing.The City may terminate this Agreement if, in its sole discretion, a conflict of interest exists that cannot be adequately mitigated. 44. CONTRACT DOCUMENTS. The following documents constitute the Contract Documents and are incorporated into this Agreement by reference in their entirety as though fully set forth herein: a. This Agreement,together with all Exhibits and Attachments hereto; b. Exhibit A—Scope of Services and; c. Exhibit B—Form of Task Order; d. Exhibit C—Fee Schedule/Hourly Rates; e. Exhibit D—Insurance Advisory; f. Attachment A — Request for Proposals No. 26-053R, Strategic P3 Financial Advisory Services, together with Addendum No.1 issued April 22,2026(the"Solicitation"); g. —Consultant's Proposal dated April 29,2026,together with Consultant's Best and Final Offer dated August 7,2026(collectively,the"Proposal" h. Each Task Order issued and duly executed by the Parties under this Agreement. Attachment A and Attachment B are attached to this Agreement and are also on file with Procurement Services, City of Boynton Beach, and available for public inspection. Exhibit A summarizes the Scope of Services;the complete Scope of Services is set forth in Attachment A and Attachment B. Except as to the Scope of Services, no provision of Attachment A or Attachment B shall be construed to alter the compensation set forth in Exhibit C or to modify any term of this Agreement, and any conflict among the Contract Documents shall be resolved in the order of precedence set forth below. 45. CONTROLLING PROVISIONS. Except as otherwise explicitly provided herein,in the event of any conflict between the specific provisions of this Agreement and the requirements or provisions of the Solicitation, any Task Order and/or the Proposal,the provisions shall be given precedence in the following order:(1)this Agreement,together with its Exhibits; (2) the Solicitation (Attachment A); (3) the applicable Task Order; and (4) the Proposal (Attachment B).Wherever possible,the provisions of the documents shall be construed in such a manner as to avoid conflicts between the provisions of the various documents. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 16 46. ENTIRE AGREEMENT. The Agreement, including the Exhibits, the Attachments, and any Task Orders identified in the Contract Documents section above and incorporated into this Agreement in their entirety, embody the entire agreement and contemporaneous agreements and understandings,oral or written,relating to said subject matter. This Agreement may only be modified by a written amendment executed by the City and Consultant. 47.SEVERABILITY. If any provision of this Agreement or application thereof to any person or situation shall, to any extent, be held invalid or unenforceable,the remainder of this Agreement and the application of such provisions to persons or situations other than those as to which it shall have been held invalid or unenforceable, shall not be affected thereby and shall continue in full force and effect, and be enforced to the fullest extent permitted by law. 48. NO CONSTRUCTION AGAINST DRAFTER. The Parties acknowledge that they have both participated in the negotiation and preparation of this Agreement. Accordingly, this Agreement shall not be construed more strictly against either Party, regardless of which Party was responsible for its preparation. 49. FEDERAL GRANT COMPLIANCE. If any Task Order involves work funded in whole or in part by federal funds, the Consultant shall comply with all federal requirements applicable to the funding source,including, but not limited to, procurement, reporting, record retention, audit access, and prohibited telecommunications equipment requirements. In the event of any conflict between this Agreement and the federal requirements, the federal requirements will govern and control. 50. PURCHASE ORDER REQUIRED: The City will not accept any goods delivered or services performed unless a duly authorized purchase order has been issued for said goods and/or services.The purchase order number must appear on all invoices, packing slips, and all correspondence concerning the order. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 17 IN WITNESS WHEREOF,the Parties hereto have executed this Agreement on the day and year set forth below. CITY OF BOYNTON BEACH: CONSULTANT: PFM Financial Advisors LLC By: �11� By: Print Name:Rebecca Shelton Print Name:Sergio Masvidal Title: Mayor Title: Managing Director Date: � /„).6 Date: 09/08/2026 ATTEST: Tammy Stanzi• e,City Cler City Attorn: 's Office Approve•ls�t'o FormF By: k IGU(/�/G oI of BOy41•‘ �N�y.•'•CORp •••JO�11 /NCO�� •:mai 5, l92 R4T4, D 1111 A, •••.••••••• i/ 4)/DA RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 19 Y o� o 0 U City of Boynton Beach --,01•1°`c Procurement Services EXHIBIT A SCOPE OF SERVICES This is a summary of the Scope of Services—All Scope of Services are covered in the RFP and resulting Proposal from PFM to the RFP. Consultant shall provide independent financial advisory and analytical services to assist the City in evaluating and structuring Public-Private Partnership (P3) proposals and initiatives, on an as-needed,Task Order basis. Services include, but are not limited to,the following: • Statutory compliance review under Section 255.065, Florida Statutes,and Section 2-60 of the City Code of Ordinances. • Financial feasibility analysis of proposed P3 projects, including projected project costs, revenue assumptions,operating expenses, and lifecycle costs. • Financial modeling and scenario analysis, including validation of capital structure, debt financing, operating costs, escalation factors, and revenue forecasts submitted by private entities, and sensitivity analysis. • Review of P3 delivery structures, including concession, lease,design-build-operate-maintain(DBOM), and design-build-finance-operate-maintain (DBFOM)models. • Risk identification,quantification,and allocation between the public and private sectors. • Value-for-Money (VfM) and public sector comparator analysis, including analyses required under Section 2-60(g)of the City Code. • Compliance and regulatory review of P3 submissions under applicable federal, state, and local law. • Financial due diligence on proposers and development teams, including financial capacity, funding sources, and creditworthiness. • Market sounding and investor/developer engagement support. • Financial advisory support during procurement, negotiation,and financial close. • Ongoing advisory support relating to amendments, financial restructuring, or changes to proposed partnerships during project development. • Preparation of analyses, reports, and presentations supporting the determinations the City Commission must make under Section 2-60(h) of the City Code prior to approving any interim or comprehensive agreement. Independence and Communication Restrictions. Consultant shall act as an independent financial advisor to the City and shall disclose any actual or potential conflict of interest. Consultant shall not communicate directly or indirectly with any proposer, developer, investor, contractor, lender, or other private entity associated with a P3 submission unless expressly authorized in writing by the City's Project Manager or Procurement Division. Consultant shall immediately disclose to the City any attempted contact from a proposer or its representatives, and shall not provide advice, financial guidance, or strategic information to any private entity regarding a P3 submission to the City during the Term. Consultant shall ensure that all employees, subconsultants, and affiliated advisors adhere to the same restrictions.Violation of this provision may be treated as a material breach. City of Boynton Beach Procurement Services EXHIBIT B FORM OF TASK ORDER 1Y OF ION CITY OF BOYNTON BEACH Strategic P3 Financial Advisory Continuing Consulting/Professional Services Task Order Consultant: Procurement: 1. Task/Proiect. 2. Agreement Reference.This Task Order shall be performed under the terms and conditions described within the Strategic P3 Financial Advisory Continuing Consulting/ Professional Services Agreement ("Agreement"), dated , by and between the City of Boynton Beach and PFM Financial Advisors LLC. 3. Scone of Services. The scope of services and all required deliverables under this Task Order are attached as Exhibit A.This Task Order is issued in accordance with Section 1(b)of the Agreement. 4. Project Schedule.Consultant shall deliver to the City the deliverables specified[within days after the date of Notice to Proceed for such services]or[pursuant to the time periods specified in the Project Schedule included in Exhibit A said time periods shall commence from the date of the Notice to Proceed for such services]. 5. Compensation. Payment for the services authorized by this Task Order shall be in accordance with Article 6 of the Agreement.The total Fee to be paid to the Consultant under this Task Order shall not exceed$ , based on the detailed fee schedule attached as Exhibit B,which shall be based on the Hourly Rates established in the Agreement. 6. Insurance. Consultant shall maintain insurance coverages in accordance with the Agreement and hereby confirms that Certificate(s)of Insurance evidencing current policies meeting the requirements of the Agreement are on file with the City as of the date of this Task Order. 7. Exhibits.All attached Exhibits are incorporated fully into this Task Order and the Agreement. 8. Notice to Proceed. Consultant's receipt of a fully executed copy of this Task Order and a PO issued by the City shall serve as the"Notice to Proceed" under this Task Order, effective as of the date the fully executed Task Order and PO were emailed to the Consultant. 9. Incorporation;No Modification.The terms and conditions of the Agreement are hereby incorporated into this Task Order.Nothing contained in this Task Order shall alter,modify,or change in any way the terms and conditions of the Agreement with the City. CONSULTANT: CITY OF BOYNTON BEACH City of Boynton Beach r Procurement Services By: By: Name: Print Name: Title: Date: ,20_ Date: ,20_ Attest: City Clerk City Attorney's Office Approved as to form and legality By: �Op 6 Z 0 V City of Boynton Beach "'01.1 0�P Procurement Services EXHIBIT C FEE SCHEDULE/HOURLY RATES The following rates and fees are established by Consultant's Best and Final Offer dated August 7, 2026 and shall remain fixed for the Initial Term.All Services are issued by Task Order and are subject to the annual not- to-exceed amount set forth in this Agreement. Table 1 —Hourly Rates Personnel Classification Hourly Rate Lead Financial Advisor/Principal $450.00 Infrastructure/P3 Specialist $450.00 Senior Advisor/Director $360.00 Legal/Compliance Advisor $360.00 Financial Model Specialist $315.00 Senior Analyst $270.00 Financial Analyst $270.00 Administrative Support $135.00 Table 2—Phase-Based Pricing(per P3 project) Project Description Fee Phase Phase 1 Project Initiation and Financial Feasibility Analysis $25,000 Phase 2 Financial Modeling and Market Sounding $20,000 Phase 3 Procurement Support and RFP Development $15,000 Phase 4 Proposal Evaluation and Financial Analysis $25,000 Phase 5 Negotiations and Financial Close Support $75,000 Subtotal Phase-Based Pricing per P3 project $160,000 Table 3—Scenario Pricing(authorized only by Task Order) Scenario Description Cost Scenario A Alternative delivery structure analysis $25,000 Scenario B Additional financial feasibility study $20,000 Scenario C Additional negotiation support with proposer $10,000 Scenario D Additional financial model revisions $15,000 Table 4—Reimbursable Expenses(require prior written City approval) Expense Category Not-to-Exceed Travel(if approved by the City) $3,000 Data acquisition/market data I $5,000 Printing/document production I $1,000 Other(pre-approved in writing) $1,000 Table 5—Optional Services Optional Service I Pricing Method I Rate/Cost Additional FinancialAnalysis Hourly $500.00 Additional Procurement Support Hourly $500.00 Additional Negotiation Support Hourly $500.00 Additional Stakeholder Presentations Per Meeting $500.00 c z � U City of Boynton Beach `'°�°` Procurement Services Notes: (1) Rates are fixed for the Initial Term; any rate change at renewal requires a written amendment approved by the City Commission. (2) Subconsultant fees shall be billed at cost with no markup. (3)The City is exempt from Florida sales and use tax; no sales tax shall be invoiced.(4)Total compensation in any contract year shall not exceed$600,000.00. 'CitY of Boynton Beach Procurement Services EXHIBIT D INSURANCE ADVISORY If a Consultant is providing a service under this Agreement, then the Consultant shall, at its sole expense, always maintain in full force and effect during the life of this Agreement, insurance coverages, and limits(including endorsements), as required by the City. These requirements shall not in any manner limit or qualify the liabilities and obligations assumed by the Consultant under this Agreement. All coverages shall be provided on a primary basis with the City endorsed as an Additional Insured as follows: "The City of Boynton Beach".The Consultant shall provide the City with a Certificate of Insurance evidencing such coverages prior to the commencement of any services and within a time frame specified by the City (normally within 2 working days after request). Failure to maintain the required insurance shall be considered a default of the Agreement. It shall be the responsibility of the Consultant to maintain workers'compensation insurance, professional liability, property damage liability insurance, and vehicular liability insurance; during the time any of his/her personnel are working on City of Boynton Beach property. Loss by fire or any other cause shall be the responsibility of the Consultant until such time as the items and/or work have been accepted by the City.The Consultant shall furnish the City with a certificate of insurance after award has been made prior to the start of any work on City property. Said insured companies must be authorized to do business in the State of Florida and the City will not accept any company that has a rating less than B+ in accordance with A.M. Best's Key Rating Guide, latest edition. m z m � City of Boynton Beach "'m�° Procurement Services ATTACHMENT A REQUEST FOR PROPOSALS NO.26-053R Strategic P3 Financial Advisory Services, including Addendum No. 1 issued April 22,2026 [The Solicitation follows this page and is incorporated into this Agreement in its entirety.] REQUEST FOR PROPOSALS (RFP) SOLICITATION OVERVIEW 0 Request for Proposal (RFP): No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services(Consultant) PUBLISH DATE: ALL QUESTIONS DUE: April 6, 2026 April 17, 2026 by 5:00 PM NON-MANDATORY PRE- PROPOSAL DUE AND OPENING PROPOSAL CONFERENCE: DATE: N/A April 29, 2026 at 3:00 PM Where to Deliver the Proposal Boynton-beach.bidsandtenders.net bids&tenders Online Submission Only Advertisement Date: April 7, 2026 YOB O 2 O City of Boynton Beach 47 Procurement Services TABLE OF CONTENTS 26-053R REQUEST FOR PROPOSALS STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) SOLICITATION OVERVIEW 1 TABLE OF CONTENTS 1 SECTION I — INTRODUCTION 8 1.1 BACKGROUND OF CITY 8 1.2 PURPOSE OF RFP 8 1.3 CONTRACT OVERVIEW 8 1.4 GOALS AND OBJECTIVES 8 1.5 DEFINITIONS 2 "Addenda" 2 "Agreement" 2 "City"or"Owner" 2 "Contract Administrator" 2 "Contract Documents" 2 "Consultant" 2 "Defective" 2 "Effective Date of the Agreement" 2 "Evaluation/Selection Committee" 2 "Interested parties" 2 "Notice to Proceed" 2 "Online e-procurement system"or"e-procurement system" 2 "Procurement Services" 2 "Proposer/Offeror/Responder" 2 "Request for Proposals(RFP)" 2 "Sub-Consultant" 2 "Responsible Proposer" 2 "Responsive Proposer" 2 "Written Amendment" 2 "Unit Price or Hourly Wage Work" 3 "Project,Services,or Program" 3 SECTION II — INSTRUCTION TO PROPOSERS 4 2.1 PROCUREMENT CONTACT 4 2.2 LOBBYING /CONE OF SILENCE: 4 2.3 SCHEDULE OF EVENTS 4 2.4 PRE-PROPOSAL CONFERENCE 4 2.5 EXAMINATION OF CONTRACT DOCUMENTS 4 2.6 INTERPRETATIONS 5 RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 1 •�R _ p City of Boynton Beach Procurement Services 2.7 FAMILIARITY AND COMPLIANCE WITH LAWS, CODES AND REGULATIONS: 5 2.8 LEGAL CONDITIONS 5 2.9 ELIGIBILITY OF PROPOSER 5 2.10 VENDOR REGISTRATION 5 2.11 E-PROCUREMENT SYSTEM 6 2.12 REQUEST FOR INFORMATION/QUESTIONS AND ADDENDA 6 A. Questions & Communications 6 B. Addenda 6 2.13 EARLY SUBMISSIONS 6 2.14 TRADE SECRET 6 2.15 INFORMATION AND DESCRIPTIVE LITERATURE 7 2.16 COSTS 7 2.17 PUBLIC RECORDS 7 2.18 MISTAKES WITHIN RFP 7 2.19 CONFLICT OF INTEREST DISCLOSURE 7 A. ANTI-KICKBACK AFFIDAVIT 7 B. NON-COLLUSION 8 C. CONFLICT OF INTEREST/GIFT POLICY 8 D. ORGANIZATIONAL CONFLICT OF INTEREST: 8 E. GIFT POLICY 8 2.21 CONFLICT OF INTEREST: 8 2.22 SUBMISSION AND FORMAT OF THE PROPOSAL 8 2.23 PROPOSAL VALIDITY PERIOD 9 2.24 NO SUBMITTAL 9 2.25 REJECTION OF PROPOSALS 9 2.26 CITY'S RESERVED RIGHTS 9 2.27 CAUSES FOR REJECTION 9 2.28 WITHDRAWAL OF PROPOSALS 10 2.29 DISQUALIFICATION OF PROPOSER 10 2.30 PROTEST PROCEDURE 10 2.31 CONFIRMATION OF MINORITY-OWNED BUSINESS 10 SECTION III —MINIMUM QUALIFICATIONS (SERVICES) 11 3.1 MINIMUM MANDATORY STANDARDS OF PROPOSER 11 3.2 CERTIFICATIONS, LICENSES, AND PERMITS 11 3.3 MINIMUM QUALIFICATIONS 12 A. Licensing Requirements 12 B. Years of Experience 12 C. Expertise of Proposer 12 D. Minimum Project Experience 12 SECTION IV— SCOPE OF WORK (SERVICES) 13 4.1 GENERAL 13 4.2 SCOPE OF SERVICES 13 RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 2 City of Boynton Beach Procurement Services 4.3 DETAILED TASKS/RESPONSIBILITIES 13 A. Financial Feasibility Analysis 13 B. Financial Modeling and Scenario Analysis 14 C. Review of Public-Private Partnership Structures 14 D. Compliance and Regulatory Review 14 E. Due Diligence and Financial Validation 14 F. Value-for-Money (VfM) and Comparative Analysis 14 G. Advisory Services and Strategic Recommendations 14 H. Support During Negotiations 15 I. Ongoing Advisory Services 15 J. Conflict of Interest and Independence Requirements 15 K. Independent Financial Advisory Certification 15 L. Financial Disclosure and Due Diligence Requirements for P3 Submissions 16 4.4 PERFORMANCE STANDARDS 16 4.5 REPORTING AND PRESENTATION REQUIREMENTS 16 4.6 MEETINGS AND COORDINATION 16 4.7 EXPECTED TIMELINE BY THE CITY 16 4.8 TERM OF PROFESSIONAL SERVICES CONSULTANT CONTRACT 17 4.9 AGREEMENT TERM AND OPTIONAL AMENDMENT EXTENSION 17 4.10 CITY RESPONSIBILITY 17 A. Designated Project Manager 17 B. Access to Information and Documentation 17 C. Coordination with City Departments 17 D. Review and Feedback on Deliverables 17 E. Decision-Making Authority 18 F. Meeting and Presentation Coordination 18 G. Access to Stakeholders 18 H. Procurement and Contract Administration 18 I. Inspection and Acceptance of Work Produced 18 J. Performance Review Evaluation 18 SECTION V—SUBMISSION OF PROPOSALS 20 5.1 GENERAL REQUIREMENTS 20 5.2 DETAILS OF PROPOSAL 20 A. Letter of Interest 20 B. Proposer's Qualifications: Company Culture/Structure and Experience 20 C. Technical/ Operational Proposal 20 D. Financial Proposal Requirements 21 E. Litigation Disclosure Requirement: 22 F. References 22 5.3 EXCEPTIONS BY PROPOSER 23 5.4 SUB-CONSULTING 23 5.5 DIGITAL FORMS TO BE COMPLETED WITH EACH PROPOSAL 23 RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 3 mA m = O V City of Boynton Beach "'°N O`' Procurement Services 5.6 FORMS THAT MUST BE UPLOADED TO THE DOCUMENT UPLOAD SECTION 24 5.7 PRICE PROPOSAL SHEET 24 5.8 AGREEMENT 24 SECTION VI - EVALUATION OF PROPOSALS 25 6.1 EVALUATION METHODOLOGY 25 6.2 EVALUATION COMMITTEE 25 6.3 EVALUATION CRITERIA TABLE 26 A. Local Business Preference 27 6.4 GUIDELINES FOR ASSIGNING AWARD POINTS AND EVALUATION SCORING 27 6.5 SHORTLISTING 28 6.6 CITY'S RIGHT TO USE ORDINAL RANKING 29 6.7 ADDITIONAL CLARIFICATION 29 6.8 ORAL INTERVIEWS/PRESENTATIONS (IF REQUIRED) 29 6.9 BEST AND FINAL OFFER 30 6.10 NEGOTIATIONS 30 6.11 FINAL SELECTION 30 SECTION VII -CONTRACT AWARD PROCESS 32 7.1 NOTICE OF INTENT TO AWARD 32 7.2 CONTRACT NEGOTIATIONS 32 7.3 CONTRACT EXECUTION 32 7.4 COMMISSION APPROVAL 32 7.5 ISSUANCE OF PURCHASE ORDER 33 SECTION VIII - STANDARD GENERAL TERMS AND PROVISIONS 34 8.1 DISPUTES 34 8.2 COMPLIANCE WITH OCCUPATIONAL SAFETY AND HEALTH 34 8.3 PALM BEACH COUNTY INSPECTOR GENERAL: 34 8.4 OTHER AGENCIES 34 8.5 VENUE AND GOVERNING LAW: 34 8.6 NON-DISCRIMINATION & EQUAL OPPORTUNITY EMPLOYMENT 34 8.7 INDEPENDENT CONTRACTOR RELATIONSHIP: 35 8.8 OMISSION OF DETAILS 35 8.9 LEGAL EXPENSES: 35 8.10 NO THIRD-PARTY BENEFICIARIES. 35 8.11 DISCRIMINATORY VENDOR LIST 36 8.12 NON-EXCLUSIVE 36 8.13 BUSINESS INFORMATION 36 8.14 FEDERAL AND STATE TAX: 36 8.15 ON PUBLIC ENTITY CRIMES 36 8.16 PROHIBITED TELECOMMUNICATIONS EQUIPMENT 36 8.17 PROHIBITION AGAINST CONSIDERING SOCIAL, POLITICAL, OR IDEOLOGICAL INTERESTS IN GOVERNMENT CONTRACTING 36 8.18 RIGHTS IN DATA 37 RFP No 26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 4 • O V City of Boynton Beach �' ` Procurement Services 8.19 DOCUMENTATION OF COSTS 37 8.20 DRUG-FREE WORKPLACE 37 8.21 ENDORSEMENTS 37 SECTION IX—SPECIAL PROVISIONS/SPECIAL CONDITIONS 38 9.1 ENUMERATION OF PRECEDENCE OF CONTRAC I DOCUMENTS 38 9.2 COMMUNICATION RESTRICTIONS AND PROCUREMENT INTEGRITY 38 9.3 CHANGES TO SCOPE AND ADDITIONAL SERVICES 38 9.4 PERFORMANCE DURING EMERGENCY 39 SECTION X— PRICE PROPOSAL FORM 40 Table 1 — Personnel Rate Card 40 Table 2— Phase-Based Pricing (Typical P3 Advisory Phases) 40 Table 3— Financial Model Development and Support Error! Bookmark not defined. Table 4— Scenario Pricing (For Major Project Changes) 40 Table 5—Subconsultant Costs (if applicable) 41 Table 6— Reimbursable Expenses 41 Table 7— Optional Services (Hourly or Task-Based) 41 Table 8— Summary of Total Proposed Cost Error! Bookmark not defined. SECTION XI —SAMPLE TERM AGREEMENT— PROFESSIONAL SERVICES CONSULTANT 42 1. SERVICES AND METHOD OF ORDERING SERVICES. 43 2. TERM. 44 3. TIME FOR PERFORMANCE 44 A. COMMENCEMENT of Work 44 B. DELAYS; UNTIMELY PERFORMANCE. 45 C. IF TASK ORDER CONTINUES BEYOND TERM. 45 4. AMOUNT AND METHOD OF COMPENSATION. 45 5. NOTICES. 45 6. INVOICES AND PAYMENT. 46 7. TAX EXEMPT. 47 8. SOVEREIGN IMMUNITY. 47 9. ATTORNEY'S FEES. 47 10. PUBLIC RECORDS. 47 11. DISCRIMINATORY VENDOR AND SCRUTINIZED COMPANIES LISTS: COUNTRIES OF CONCERN 47 12. E-VERIFY 48 13. ENTITIES OF FOREIGN CONCERN. 48 14. ANTI-HUMAN TRAFFICKING. 48 15. PUBLIC ENTITY CRIME ACT. 48 16. CONTINGENCY FEE 48 17. TRUTH-IN-NEGOTIATION REPRESENTATION. 48 18. DULY LICENSED 49 19. FORCE MAJEURE. 49 20. VENUE, JURISDICTION, WAIVER OF JURY TRIAL. 49 RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 5 City of Boynton Beach "'�N 94, Procurement Services 21. SUSPENSION AND TERMINATION. 49 A. TERMINATION. 49 B. FUNDING OUT 50 C. NOTICE OF TERMINATION 50 D. SUSPENSION OF WORK. 50 22. INDEMNIFICATION. 51 23. INSURANCE. 51 24. LIMITATION OF LIABILITY. 51 25. INDEPENDENT CONTRACTOR. 51 26. COMPLIANCE WITH LAWS. 51 27. BREACH OF REPRESENTATIONS 51 28. ASSIGNMENT. 52 29. NO LIEN. 52 30. AGREEMENT SUBJECT TO FUNDING. 52 31. NON-EXCLUSIVE. 52 32. REPRESENTATION OF AUTHORITY. 52 33. CONFIDENTIAL INFORMATION; GENERATIVE ARTIFICIAL INTELLIGENCE; AND DATA SECURITY. 52 A. CONFIDENTIAL INFORMATION AND GENERATIVE ARTIFICIAL INTELLIGENCE. 52 B. DATA SECURITY; CYBERSECURITY REQUIREMENTS. 52 34. RIGHTS IN DOCUMENTS AND WORK 53 A. OWNERSHIP 53 B. INTELLECTUAL PROPERTY WARRANTY; INFRINGEMENT INDEMNITY. 53 35. CONSULTANT'S STAFF. 54 36. AUDIT AND RECORDS 54 A. MAINTENANCE OF RECORDS 54 B. RETENTION. 54 C. AUDIT RIGHTS. 54 D. COSTS DISALLOWED. 54 E. COOPERATION. 54 37. THIRD-PARTY BENEFICIARIES. 54 38. MATERIALITY AND WAIVER OF BREACH 54 39. COUNTERPARTS AND MULTIPLE ORIGINALS. 55 40. HEADINGS. 55 41. NON-DISCRIMINATION. 55 42. PROHIBITION ON USE OF CITY'S NAME IN MARKETING 55 43. CONFLICT OF INTEREST. 55 44. CONTROLLING PROVISIONS 55 45. ENTIRE AGREEMENT. 55 46. SEVERABILITY 55 47. NO CONSTRUCTION AGAINST DRAFTER. 55 48. FEDERAL GRANT COMPLIANCE. 56 RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 6 '-;;27" City of Boynton Beach Procurement Services 49. PURCHASE ORDER REQUIRED: 56 RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 7 ft City of Boynton Beach Procurement Services SECTION I — INTRODUCTION RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) PROCUREMENT SERVICES make a real difference in our community. Our Purpose: The City of Boynton Beach's Additionally, we anticipate that our vendors will Procurement Services is dedicated to collaborate with us as a team and maintain the fostering equitable and fair competition in our highest standards of integrity in all interactions solicitations through a transparent with the city's offices and departments. These are procurement process.We actively collaborate expectations and standards we hold all our with local vendors to ensure that every vendors to. participant has an equal opportunity to secure government contracts. Our commitment to Diligence in fulfilling the requirements of this fairness and transparency is unwavering. solicitation will significantly enhance the overall A Message to our Vendors: quality of services delivered to our community. Your work as a vendor is not just about delivering The City seeks a firm that embodies these products and services. It's about enhancing the principles in its work, and the successful overall value of our services to our residents. We candidates will be evaluated against the expect high-quality products and efficient performance standards detailed in this services, delivered on time and as specified, to solicitation. 1.1 BACKGROUND OF CITY The City of Boynton Beach serves an area of approximately 16.5 square miles with a population of approximately 80,000. The City provides services to its citizens in many areas, such as law enforcement, emergency medical services, fire control, water and sewer, library services, refuse collection, a municipal golf course, and various park sites and recreational services. The City was incorporated in 1920 and has operated under a Commission-Manager form of government. 1.2 PURPOSE OF RFP The City of Boynton Beach ("City") is soliciting sealed qualifications from experienced and qualified financial consultant firms ("Consultant") to provide financial advisory, feasibility, modeling, and compliance support for Public-Private Partnership (P3) projects, in accordance with Florida Statute §255.065 and the City of Boynton Beach's P3 ordinance. 1.3 CONTRACT OVERVIEW Florida Statute §255.065 authorizes local governments to engage in P3 projects for public infrastructure and facilities. The statute requires feasibility analysis, value-for-money analysis, financial modeling, risk allocation, transparency, and public notice. The City intends to issue a term contract for these professional services for Three-years with one two-year renewal. 1.4 GOALS AND OBJECTIVES The selected Consultant(s) shall provide as-needed, task-order-based financial advisory services, including but not limited to: • Statutory compliance with §255.065 • Financial modeling and feasibility on P3 Projects • Risk analysis and allocation ■ Proposal evaluation support RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 8 o r o u City of Boynton Beach '''om.47 Procurement Services ■ Negotiation and transaction support • Required reporting and deliverables can be flexed based on P3 project. • Any other service that is needed for the evaluation of a P3 project. 1.5 DEFINITIONS Whenever the following terms appear in the RFP or Proposal, the intent and meaning shall be interpreted as follows: "Addenda" "Notice to Proceed" Written or graphic instruments issued before opening A written notice given by the City to the Consultant fixing the solicitations that clarify, correct, or change the solicitation date on which the contract time will commence to run and on requirements or the contract document. which the Consultant shall start to perform the Consultant's "Agreement" obligations under the Contract Documents. Such Notice is to The written agreement between the City and the Consultant be issued by the project Contract Administrator. covering the scope of work to be performed,including other "Online e-procurement system" or "e-procurement Contract Documents attached to the Agreement and made a system" part thereof The words"Agreement"and"Contract"are used The City of Boynton Beach's solicitation management system is interchangeably. "bids&tenders." "City"or"Owner" "Procurement Services" The City of Boynton Beach,Florida,a municipal corporation Procurement Services is located within the Finance of the State of Florida Department at the City of Boynton Beach. "Contract Administrator" "Proposer/Offeror/Responder" The Department's Director or some other employee expressly Any individual,firm,or corporation submitting a proposal for designated as Contract Administrator in writing by the this project, acting directly or through a duly authorized Director,who is the representative of the City concerning the representative. For the purpose of this solicitation, the terms Contract Documents. "Offeror," "Proposer," and "Responder" are used "Contract Documents" interchangeably and have the same meaning. The Contract Documents consist of this Agreement,conditions "Request for Proposals(RFP)" of the contract (General, Supplementary, and other A Request for Proposal (RFP) is a method of procurement Conditions), drawings, specifications of this solicitation, all permitting discussions with responsible offerors and revisions addenda issued prior to, all modifications issued after to proposals prior to the award of a contract. The Proposer's execution of this Agreement, Notice of Award, Notice to qualifications, experience, and price will be factors in the Proceed,Certificate(s)of Insurance,Bonds and any additional evaluation. Price is not a primary evaluation factor. An RFP modifications and supplements, Change Orders and Work provides for the negotiation of all terms,including price,prior directive changes issued on or after the effective date of the to contract award. This procurement methodology includes a Contract.These Contract Documents form the Agreement,and provision for the negotiation of best and fmal offers. all are as fully a part of the Agreement if attached to this Proposals will be evaluated by an evaluation committee based Agreement or repeated therein. on the criteria set forth in SECTION VI. "Consultant" "Sub-Consultant" The individual or firm that successfully receives the award for Any person, firm, entity, or organization, other than the work to be completed as defined by this solicitation. Also employees of the Consultant, who contracts with the referred to as the Successful Proposer. Consultant to furnish labor, or labor and materials, in "Defective" connection with the work or services to the City, whether An adjective which,when modifying the Work,refers to Work directly or indirectly,on behalf of the Consultant. that is unsatisfactory,faulty,or deficient,does not conform to "Responsible Proposer" the Contract Documents,or does not meet the requirements of This means a person or firm capable of fully performing the any inspection,reference standard,test,or approval referred to requirements in the RFP and agreement and having the in the Contract Documents. tenacity, perseverance, experience, integrity, reliability, "Effective Date of the Agreement" capacity,facilities,equipment,and credit to ensure good faith The date indicated in the Agreement on which it becomes performance. effective,but if no such date is indicated,it means the date on "Responsive Proposer" which the Agreement is signed and delivered by the last of the This means a Person or firm who has submitted a Proposal that two parties to sign and deliver. conforms in all material respects to the requirements outlined "Evaluation/Selection Committee" in this RFP. City Staff and/or outside consultants or subject matter experts "Written Amendment" who are assigned to evaluate the submitted proposals. A written amendment of the Contract Documents, signed by "Interested parties" the City and the Consultant on or after the Effective Date of the Firms or proposers interested in the solicitation and plan to Agreement and typically dealing with non-technical aspects eventually become proposers. rather than strictly work-related aspects of the Contract Documents. RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 2 Cityof Boynton Beach Y Procurement Services "Unit Price or Hourly Wage Work" Work to be paid for based on unit prices outlined within the RFP. "Project.Services.or Program" All matters that will be required to be done by the Consultant in accordance with the Scope of Work,Terms and Conditions, and Special Provisions of this RFP RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consuttant 3 Cityof Boynton ` BeachProcurement Services SECTION II — INSTRUCTION TO PROPOSERS RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) The following instructions are given to guide Proposers in adequately preparing their response. These directions have equal force and weight with the specifications, and strict compliance is required with all provisions. 2.1 PROCUREMENT CONTACT All correspondence regarding this solicitation should be communicated through Bids&Tenders. The procurement agent assigned to this solicitation is: Andrew Rozwadowski— 561-742-6322 — RozwadowskiAna-bbfl.us 2.2 LOBBYING /CONE OF SILENCE: Consistent with the requirements of Chapter 2,Article VIII, Lobbyist Registration, of the Palm Beach County Code of Ordinances, Boynton Beach imposes a Cone of Silence. A cone of silence shall be imposed upon each competitive solicitation as of the deadline to submit the proposal, response and shall remain in effect until the City Commission awards or approves a contract, the City rejects all responses or otherwise takes action that ends the solicitation process. While the cone of silence is in effect, no proposer or its agent shall directly or indirectly communicate with any member of the City Commission or their staff,the Manager,or any employee of Boynton Beach authorized to act on behalf of Boynton Beach in relation to the award of a particular contract or member of the Selection Committee in reference to the solicitation, with the exception of the Procurement Services Director or designee. (Section 2-355 of the Palm Beach County Code of Ordinances.)Failure to abide by this provision may serve as grounds for disqualification for award of contract to the proposer. Further, any contract that violates the cone of silence shall render the transaction voidable. The cone of silence shall not apply to oral communications at any public proceeding, including pre- proposal conferences, oral presentations before Selection Committees, contract negotiations during any public meeting, presentations made to the City Commission, and protest hearings. Further, the cone of silence shall not apply to contract negotiations between any employee and the intended awardee, any dispute resolution process following the filing of a protest between the person filing the protest and any employee, or any written correspondence with Boynton Beach as may be permitted by the competitive solicitation.Additionally,the cone of silence shall not apply to any purchases made in an amount less than the competitive solicitation threshold set forth in the Purchasing Manual. 2.3 SCHEDULE OF EVENTS 2.4 PRE-PROPOSAL CONFERENCE The City may hold an in-person and or Virtual, non-mandatory pre-proposal conference for this project,which will be noted on the first page of the RFP. The purpose of this meeting is to provide a forum for all concerned parties to discuss the proposed contract, answer questions on the solicitation document, review the qualifications requested, provide instructions for submitting proposals, and discuss other relevant issues. 2.5 EXAMINATION OF CONTRACT DOCUMENTS Before submitting a Proposal, each Offeror must understand the entire scope of work for the professional service that could affect cost or performance of the work; must consider federal, state, grant requirements(if Applicable)and local laws,ordinances, rules and regulations that may in any manner affect cost or performance of the work, must carefully compare the Offeror's observations RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 4 o City of Boynton Beach `'°�°` Procurement Services made during site visits or in review of applicable laws with the Proposal Documents; and must promptly notify the Procurement Agent of all conflicts, errors and discrepancies, if any, in the Proposal Documents. The Offeror, by and through the submission of a Proposal, agrees that it shall be held responsible and is familiar with the nature and extent of the work and any local conditions that may affect it, and is familiar with the materials, parts, and labor required to perform the scope of work successfully. 2.6 INTERPRETATIONS To ensure fair consideration for all Proposers, the City prohibits communication to or with any department, officer,or employee during the solicitation process as described in the Cone of Silence except as otherwise specified. If the Proposer should be in doubt as to the meaning of any of the solicitation documents or believes that the plans and/or specifications contain errors, contradictions, or reflect omissions, the Proposer shall direct questions to the Procurement representative through the e-procurement solicitation system only by clicking on the "Submit a Question" button for this solicitation, no later than ten (10) days prior to the solicitation deadline. 2.7 FAMILIARITY AND COMPLIANCE WITH LAWS, CODES AND REGULATIONS: Before submitting a proposal to this RFP, proposers shall comply with all federal, state, and local laws, ordinances, and regulations applicable to the services contemplated herein, including those applicable to conflict of interest and collusion. Proposers must familiarize themselves with all federal, state, and local laws, ordinances, codes, and regulations that may in any way affect the goods/services offered and any other applicable federal requirements now in effect or imposed in the future. Lack of knowledge by the Proposer shall not be a cause for relief from responsibility. 2.8 LEGAL CONDITIONS Proposers are notified to familiarize themselves with the provisions of the law of the State of Florida relating to the hours of labor on municipal work and with the provisions of the laws of the State of Florida and the Charter and Ordinances of the City of Boynton Beach Proposer shall comply with all Federal, State, County, and City laws, ordinances, rules, and regulations that in any manner affect the items covered herein apply. Lack of knowledge by the Proposer will in no way be a cause for relief from responsibility. 2.9 ELIGIBILITY OF PROPOSER • No e-submission will be accepted from, nor will any contract be awarded to, any person who is in arrears to the City of Boynton Beach upon any debt or contract or who has defaulted, as surety or otherwise, upon any obligations to the City, or who has been deemed irresponsible or unreliable to the City. • The City is not required to award any jobs to a Consultant based solely on their lowest e-submission price. • Awards will be based on past performance and quality of work, in addition to the Consultant's RFP response. • If selected for a contract, all Consultants must perform to the satisfaction of the City before being considered for award of additional contracts. • Consultants whose performance is unsatisfactory shall be subject to debarment or suspension. 2.10 VENDOR REGISTRATION To receive email updates on this solicitation, Proposers must create a vendor account and register as a plan taker at Boynton-beach.bidsandtenders.net. This is especially important for Proposers who obtained the solicitation through a third party. RFP No 26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant •oR m = o � City of Boynton Beach m`• Procurement Services 2.11 E-PROCUREMENT SYSTEM The City of Boynton Beach utilizes an online e-procurement platform (bids&tenders) to distribute and manage solicitation documents. All materials are available exclusively at Boynton-beach.bidsandtenders.net. Documents may be previewed prior to registration; however, they will display a Preview Watermark. Submission timing is based on when the e-procurement system receives the file, not when the proposer initiates upload. A confirmation email is issued upon successful submission. Proposers who do not receive confirmation must contact bids&tenders support at support(a�bidsandtenders.net. at least twenty-four (24) hours before the deadline. 2.12 REQUEST FOR INFORMATION/QUESTIONS AND ADDENDA A. Questions & Communications All questions must be submitted in writing through the e-procurement system (Boynton-beach.bidsandtenders.net) via the "Submit a Question" button. Only written responses issued as addenda are valid. Verbal discussions with City employees carry no authority. Only written communications from Procurement Services, and written submissions from Proposers through bids&tenders, are considered duly authorized. B. Addenda The City may issue addenda to clarify or modify Contract Documents. All addenda are posted in the e-procurement system, and Proposers are solely responsible for reviewing and acknowledging all addenda prior to the closing deadline. Proposers should check the system regularly up until the closing time to confirm no new addenda have been issued. 2.13 EARLY SUBMISSIONS If a proposal is submitted before the closing deadline and an addendum is subsequently issued, the system will automatically withdraw the submission and mark it as Incomplete. Proposers can monitor this status in the "MY BIDS" section and must revise and resubmit prior to the deadline. 2.14 TRADE SECRET Any language contained in the Proposer's proposal purporting to require confidentiality of any portion of the Proposal, except to the extent that certain information is, in the City's opinion, a Trade Secret pursuant to Florida law, shall be void. If a Proposer submits any documents or other information to the City that the Proposer claims are Trade Secret information and exempt from Florida Statutes Chapter 119.07 (Public Records Laws), the Proposer shall clearly designate that it is a Trade Secret and that it is asserting that the document or information is exempt. The Proposer must specifically identify the exemption being claimed under Florida Statutes 119.07. The City shall be the final arbiter of whether any information contained in the Proposer's proposal constitutes a Trade Secret. The City's determination of whether an exemption applies shall be final, and the Proposer agrees to defend, indemnify, and hold harmless the City its officers, employees, volunteers, and agents, against any loss or damages incurred by any person or entity as a result of the City's treatment of records as public records. Proposals purporting to be subject to copyright protection in full or in part will be rejected. EXCEPT FOR CLEARLY MARKED PORTIONS THAT ARE BONA FIDE TRADE SECRETS PURSUANT TO FLORIDA LAW. DO NOT MARK YOUR PROPOSAL AS RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 6 Y p� s Z o � City of Boynton Beach Procurement Services PROPRIETARY OR CONFIDENTIAL. DO NOT MARK YOUR PROPOSAL OR ANY PART THEREOF AS COPYRIGHTED. 2.15 INFORMATION AND DESCRIPTIVE LITERATURE The Proposer must furnish all information requested in the spaces provided on the proposal submission form. Further, as may be specified elsewhere, each Proposer may need to submit cuts, sketches, descriptive literature, and technical specifications covering the products or services offered for proposal evaluation. Reference to literature submitted with a previous submittal or on file with the City will not satisfy this provision. 2.16 COSTS All costs associated with preparing and submitting a proposal are the sole responsibility of the Proposer. 2.17 PUBLIC RECORDS Sealed documents received by the City in response to a Request for Proposals are exempt from public records disclosure until thirty (30) calendar days after the opening of the RFP unless the City announces intent to award sooner, in accordance with Florida Statutes 119.071. The Consultant agrees that copies of any and all property, work product, documentation, reports, computer systems and software, schedules, graphs, outlines, books, manuals, logs, files, deliverables, photographs, videos, tape recordings, or data relating to the Agreement which have been created as a part of the vendor's services or authorized by the City as a reimbursable expense, whether generated directly by the Consultant, or by or in conjunction or consultation with any other party whether or not a party to the Agreement, whether or not in privity of contract with the City or the Consultant, and wherever located shall be the property of the City. Any material submitted in response to this solicitation is considered a public document in accordance with Section 119.07, F.S. All submitted information that the responding Proposer believes to be confidential and exempt from disclosure (i.e., a trade secret or as provided for in Section 119.07, Chapter 688, and Section 812.081, F.S.) must be specifically identified as such. Upon receipt of a public records request for such information, a determination will be made as to whether the identified information is, in fact, confidential. See provision in the sample agreement. 2.18 MISTAKES WITHIN RFP Proposers are cautioned to examine all terms, conditions, specifications, scope of work, exhibits, addenda, delivery instructions, and special conditions pertaining to the solicitation. Failure to examine all pertinent documents shall not entitle the proposer to any relief from the conditions imposed in the Agreement and may lead to the rejection of a proposal. 2.19 CONFLICT OF INTEREST DISCLOSURE A. ANTI-KICKBACK AFFIDAVIT Each Proposer shall complete the Anti-Kickback Affidavit Form and shall submit this form with their Proposal. The City considers the failure of the Proposer to submit this document to be a major irregularity and may be cause for rejection of the Proposal. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant o = City of Boynton Beach "'oma Procurement Services B. NON-COLLUSION Proposer shall not collude, conspire, connive, or agree, directly or indirectly, with any other proposer, firm, or person to submit a collusive or sham response in connection with the work for which the response has been submitted or to refrain from responding in connection with such work or have in any manner, directly or indirectly, sought by a person to fix the price or prices in the proposal submission form or of any other proposer, or to fix any overhead profit, or cost elements of the proposal price of any other responder, or to secure through any collusion, conspiracy, connivance, or unlawful agreement any advantage against any other proposer, or any person interested in the proposed work. The proposer certifies there has been no collusion with any other firm or employees from any other firm who will be submitting a proposal on the same project. C. CONFLICT OF INTEREST /GIFT POLICY The award is subject to all conflict-of-interest provisions of the City of Boynton Beach, Palm Beach County, of the State of Florida. Through the submission of a proposal, the Proposer represents that it presently has no interest and shall acquire no interest, either direct or indirect, which would conflict in any manner with the performance of services required hereunder, as provided for in Chapter 112, Part III, Florida Statutes. All Proposers shall disclose the name of any City employee or relative of a City employee who owns, directly or indirectly, an interest of ten percent (10%) or more in the Proposer's firm or any of its branches. D. ORGANIZATIONAL CONFLICT OF INTEREST: Through the submission of a proposal, the Proposer acknowledges that they do not have activities or relationships (a) causing the Proposer to be unable, or potentially unable, to render impartial assistance or advice to the City; (b) impairing the Proposer's objectivity in performing the contract work; or (c) resulting in an unfair competitive advantage. E. GIFT POLICY No Proposer who is a party to, or receives a benefit from, this Agreement shall offer a gratuity, favor, or anything of monetary value to any officer, employee, or agent of the City. Further, no officer, employee, or agent of the City shall solicit or accept a gratuity, favor, or anything of monetary value from a Proposer who is a party to, or receives a benefit from, this Agreement. 2.21 CONFLICT OF INTEREST: No employee, officer, or agent of the City may participate in the selection, award, or administration of a contract supported by a federal award if he or she has a real or apparent conflict of interest. Such a conflict of interest would arise when the employee, officer, agent, any member of his or her immediate family, his or her partner, or an organization that employs or is about to employ any of the parties indicated herein, has a financial or other interest in or may receive a tangible personal benefit from a proposer considered for a City contract. In addition, the Proposer shall disclose to City in writing all federal criminal law violations involving fraud, bribery, or gratuity that potentially affect the award of this solicitation. Failure to make the required disclosures can result in withheld payments, award termination, suspension, or debarment of the proposer. 2.22 SUBMISSION AND FORMAT OF THE PROPOSAL A. The Proposer is responsible for ensuring that the proposal is submitted electronically by or at the proper time and date before the solicitation deadline. The RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 8 V°A • z ° V City of Boynton Beach Procurement Services e-procurement solicitation system does not permit late submission responses. Proposals must be submitted in English, priced in U.S. Dollars, and remain valid for 120 days following the closing date. B. The Proposer should submit a response to the solicitation (RFP) on the proposal submission forms provided. All proposal submissions, prices, amounts, and descriptive information must be entered into the e-procurement system, bids&tenders. C. The Proposer must state the price and the time of delivery for which they propose to deliver the equipment or service requested. The Proposer must be licensed to do business as an individual, partnership, or corporation in the State of Florida. D. All proposal submission forms should be executed and submitted for easy identification. Responses not submitted on proposal submission forms may be rejected. E. All proposal submissions are subject to the conditions specified in this solicitation document. Submittals that do not comply with these conditions may be rejected. See Section V– Submission of Proposal for all requirements 2.23 PROPOSAL VALIDITY PERIOD The proposal submission and pricing are valid for ONE HUNDRED TWENTY (120) days and may not be withdrawn after such date and time. 2.24 NO SUBMITTAL A NO SUBMITTAL response can be submitted online through bids&tenders the e- procurement system. 2.25 REJECTION OF PROPOSALS The City reserves the right to reject any proposal where the Proposer fails to demonstrate sufficient qualifications to fulfill the obligations and complete the contemplated scope of work. All proposals may be rejected upon reasonable belief that collusion exists among Proposers. A proposal may further be deemed irregular and rejected for material omissions, unauthorized alterations or additions, conditions, or irregularities of any kind. 2.26 CITY'S RESERVED RIGHTS The City reserves the right, at its sole discretion, to: A. Reject, cancel, or reissue any or all proposals at any stage of the procurement process. B. Extend the RFP deadline, procure any item through alternative means, or adjust the specified quantity or add it to the scope of services. C. Waive any defect, informality, technical deviation, or minor non-conformance, and accept any portion of a proposal deemed most advantageous to the City. D. Consider an alternate proposal that best serves the City's interests. E. Determine the most advantageous proposal based on price, quantifiable factors, and qualitative considerations—including but not limited to: Scope of Work, Price Proposal, timely delivery, service capabilities, adherence to required schedules, and past performance with the City or other government entities. Additional evaluation criteria are detailed in Section VI – Evaluation of Proposals. 2.27 CAUSES FOR REJECTION No response will be canvassed, considered, or accepted which, in the opinion of the City's evaluation committee, is incomplete, informal, or unbalanced or contains inadequate documentation as required herein. Any alteration, erasure, interlineations, or failure to RFP No 26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 9 •°A ° z O City of Boynton Beach Procurement Services specify a response for all items called for in the schedule may render the proposal invalid. 2.28 WITHDRAWAL OF PROPOSALS Any Responder may, without prejudice to themself, withdraw its response at any time prior to the expiration of the time during which responses may be submitted. Such withdrawal request must be in writing and signed in the same manner and by the same person who signed the response through bids&tenders. After the expiration period for receiving responses, no proposal can be withdrawn. 2.29 DISQUALIFICATION OF PROPOSER More than one Proposal from an individual, firm, partnership, corporation, or association under the same or different names shall not be considered. All proposals shall be rejected if there is reason to believe collusion exists between proposers. Automatic disqualifiers are as follows: A. Not being licensed to perform the required work by the Consultant. B. Not being eligible to submit a proposal due to violations listed under "Public Entity Crimes." C. Not completing all required forms outlined in this RFP. 2.30 PROTEST PROCEDURE Protest procedures are provided in the City of Boynton Beach Purchasing Policy. Protests shall be submitted in writing, addressed to the Purchasing Director, via hand delivery, or mail, along with a protest cash bond in an amount equal to 5% of the submittal price or $5,000, whichever is less. The bond will be refunded to a protester if the protest is upheld. The protest must identify the solicitation, specify the basis for the protest, and be received by the Procurement Services within the deadlines as follows: A. If the protest relates to a Request for Proposal, must be received before the solicitation submittal deadline date. B. If the protest relates to any other matter relating to the solicitation, including the intent to award of an agreement, the protest must be received no later than THREE 111 regular business days after the date of the intent to award notification of award by a member of the purchasing staff. Failure to file a protest as outlined in the City of Boynton Beach's Purchasing Policy shall constitute a waiver of proceedings. 2.31 CONFIRMATION OF MINORITY-OWNED BUSINESS It is the desire of the City of Boynton Beach to increase the participation of minority-owned businesses in its contracting and procurement programs. While the City does not have any preference or set-aside programs in place, it is committed to a policy of equitable participation for these firms. Therefore, each Proposer shall complete the Confirmation of Minority-Owned Business Form and shall submit the form with its submission. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 10 °A • z O U City of Boynton Beach "T°� Procurement Services SECTION III — MINIMUM QUALIFICATIONS (SERVICES) RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) 3.1 MINIMUM MANDATORY STANDARDS OF PROPOSER Proposals will only be considered from firms engaged in providing services as described in this RFP and who can provide evidence that they have established a satisfactory performance record in meeting the qualification requirements established in the RFP. Emphasis should be placed on the qualifications and experience of key personnel who will be directly involved in the work. Any sub-Consultants proposed for collaboration shall be identified. The responder should submit the following information with a statement of qualifications outlined in SECTION V—SUBMISSION OF PROPOSALS. The City will use this information, along with any other data, to determine whether the responder is qualified to provide the professional service to the City. Factors to be considered in determining whether the standard of responsibility has been met include whether a prospective Proposer has the following: A. The appropriate financial, material, equipment, facility, and personnel resources and expertise, or the ability to obtain such, necessary to indicate its capability to meet all contractual requirements. B. A satisfactory record of performance. C. A satisfactory record of integrity. D. Qualified legally to contract within the State of Florida and the City of Boynton Beach. E. Supplied all necessary information in connection with the inquiry concerning responsibility. 3.2 CERTIFICATIONS, LICENSES, AND PERMITS A. Unless otherwise directed by the City, the Proposer should provide a copy of all applicable certificates of Competency or Licenses issued by the State of Florida or the Palm Beach County Licensing Board in the name of the Proposer. B. If applicable, the Proposer shall also maintain a current Local Business Tax Receipt(Occupational License)for the County and all permits required to complete the contractual service at no additional cost to the City. C. A County Local Business Tax Receipt (Occupational License) is required unless specifically exempted by law. It shall be the responsibility of the Consultant to obtain all certifications, licenses, and permits, if required, to complete the services at no additional cost to the City. D. It is the responsibility of the Proposer to ensure all required certifications, licenses, and permits are maintained and are current throughout the term of the Agreement, inclusive of any renewals. E. Licenses and permits shall be readily available for review by the City as needed, F. Failure to meet this requirement may be considered a default of the Agreement. RFP Na 26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 11 p U City of Boynton Beach "'per Procurement Services 3.3 MINIMUM QUALIFICATIONS Respondents must demonstrate the following: A. Licensing Requirements Qualified professional staff (MBA, CPA, etc.) B. Years of Experience Minimum three (3) years of P3 advisory experience or equivalent C. Expertise of Proposer Florida Statute §255.065 expertise D. Minimum Project Experience Three (3) relevant P3 or equivalent infrastructure finance projects Failure to meet these minimum qualifications may result in disqualification. RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 12 • z City of Boynton Beach " N 647 Procurement Services SECTION IV — SCOPE OF WORK (SERVICES) RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) 4.1 GENERAL The City of Boynton Beach is procuring expert advisory services to support its Public- Private Partnership (P3) strategy. The selected Consultant will deliver independent financial analysis and structured advisory support to help the City evaluate, negotiate, and execute P3 initiatives with confidence and fiscal responsibility. The Consultant is expected to be fully self-sufficient— providing all necessary personnel, oversight, expertise, and resources — and to operate as a trusted independent voice throughout the process. The City retains full authority to negotiate contract terms, conditions, and fee structures that best serve the interests of Boynton Beach and its residents 4.2 SCOPE OF SERVICES The selected Consultant(s) shall provide independent financial advisory and analytical services to assist the City in evaluating and structuring Public-Private Partnership (P3) proposals and initiatives. Services may include financial feasibility analysis, financial modeling, risk evaluation, and compliance review to support informed decision-making by City leadership. The selected Consultant(s) shall provide as-needed, task-order-based financial advisory services, including but not limited to: • Statutory compliance with §255.065 • Financial modeling and feasibility on P3 Projects • Risk analysis and allocation • Proposal evaluation support • Negotiation and transaction support • Required reporting and deliverables can be flexed based on P3 project. • Any other service that is needed for the evaluation of a P3 project. The successful proposer will be referred to as Consultant. 4.3 DETAILED TASKS/RESPONSIBILITIES At a minimum, the Consultant shall perform the following responsibilities: A. Financial Feasibility Analysis • Conduct comprehensive financial feasibility reviews of proposed P3 projects submitted to the City. • Evaluate projected project costs, revenue assumptions, operating expenses, and lifecycle costs. • Assess the financial sustainability of proposed project structures under various economic scenarios. • Identify potential financial risks and opportunities associated with the proposed partnership structure. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 13 ��R • _ v City of Boynton Beach �*oma Procurement Services B. Financial Modeling and Scenario Analysis • Develop and/or review detailed financial models related to proposed P3 projects. • Validate financial assumptions provided by proposers, including capital structure, debt financing, operating costs, escalation factors, and revenue forecasts. • Perform sensitivity analysis and scenario modeling to evaluate financial viability under varying conditions. • Provide independent verification of financial projections submitted by private entities. C. Review of Public-Private Partnership Structures • Analyze proposed partnership structures, including concession agreements, lease agreements, design-build-finance-operate-maintain (DBFOM) structures, or other P3 delivery models. • Evaluate allocation of financial risk between the public and private sectors. • Assess financial terms, including revenue sharing, availability payments, financing mechanisms, and return on investment structures. D. Compliance and Regulatory Review • Review submissions to ensure compliance with applicable federal, state, and local statutes governing public-private partnerships. • Evaluate financial disclosures, funding structures, and financial guarantees to confirm compliance with regulatory and municipal requirements. • Identify any financial compliance issues or potential legal/contractual risks associated with proposed P3 structures. E. Due Diligence and Financial Validation • Perform financial due diligence on proposers and development teams, including review of financial capacity, funding sources, and creditworthiness where applicable. • Verify financial documentation, funding commitments, and economic assumptions included in submissions. • Provide recommendations regarding the financial credibility and capability of proposing entities. F. Value-for-Money (VfM) and Comparative Analysis • Conduct Value-for-Money analyses comparing P3 delivery models with traditional public procurement approaches when requested by the City. • Evaluate long-term financial implications for the City, including lifecycle cost impacts and potential fiscal exposure. • Provide comparative assessments of alternative financial structures or proposals. G. Advisory Services and Strategic Recommendations • Provide professional recommendations regarding financial structure, fiscal impacts, and risk mitigation strategies related to P3 proposals. • Assist City staff in identifying financially advantageous partnership structures. • Provide guidance on best practices in municipal P3 financing and financial structuring. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 14 r�./Y OA 1 ` • \� City of Boynton Beach Procurement Services H. Support During Negotiations • Provide financial advisory support during negotiations with private sector partners when requested by the City. • Assist in evaluating revised financial proposals and financial terms during negotiations. • Provide recommendations regarding financial safeguards and protections for the City. Ongoina Advisory Services • Provide ongoing financial advisory support related to P3 initiatives as requested by the City. • Assist in evaluating amendments, financial restructuring, or changes to proposed partnerships during project development. J. Conflict of Interest and Independence Requirements To maintain the integrity of the evaluation process, the Consultant shall operate as an independent financial advisor to the City and must disclose any actual or potential conflicts of interest. • The Consultant shall disclose any existing or past financial, contractual, or advisory relationships with any proposer, developer, investor, lender, contractor, or affiliated entity involved in a P3 submission to the City. • The Consultant shall certify that it does not currently represent, and will not represent during the term of the engagement, any private entity submitting or planning to submit a proposal related to the City's P3 project. • The Consultant shall notify the City immediately if a potential conflict of interest arises during the course of the engagement. • The City reserves the right to determine whether a disclosed relationship constitutes a conflict that would impair the Consultant's independence. • The Consultant shall provide advisory services solely in the best interest of the City and shall not participate in any activity that could reasonably create the appearance of bias or influence. K. Independent Financial Advisory Certification The Consultant shall serve exclusively as the City's independent financial advisor and shall provide objective, professional financial analysis and recommendations. • The Consultant shall certify that its financial analyses, feasibility evaluations, and modeling reviews are conducted independently and without influence from any proposer or private partner. • All financial models, assumptions, and analyses provided by the Consultant must be transparent, documented, and reproducible. • The Consultant shall maintain complete documentation of methodologies, financial assumptions, and analytical approaches used in evaluating P3 submissions. • Upon request, the Consultant shall provide the City with all underlying financial models, spreadsheets, and supporting documentation necessary for the City to independently review the analysis. • The Consultant shall provide recommendations that prioritize the long-term fiscal interests and risk protection of the City. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 15 Y°R ° 4 City of Boynton Beach `'°N Procurement Services L. Financial Disclosure and Due Diligence Requirements for P3 Submissions The Consultant shall assist the City in evaluating the financial credibility and financial capacity of proposers by reviewing financial disclosures and conducting appropriate due diligence. • The Consultant shall review financial statements, financing commitments, funding structures, and capital sources submitted by proposers. • The Consultant shall verify the financial capability of proposers to deliver, finance, operate, and maintain the proposed project. • The Consultant shall evaluate the financial strength, creditworthiness, and capitalization of development teams, including key project partners and guarantors. • The Consultant shall identify any material financial risks, funding gaps, or unrealistic financial assumptions contained in P3 submissions. • The Consultant shall provide recommendations regarding the adequacy of proposed financial guarantees, security instruments, or performance assurances intended to protect the City. 4.4 PERFORMANCE STANDARDS CONSULTANT shall be fully responsible for performing all the work necessary to meet City standards in a safe, neat, and good workmanlike manner, using only generally accepted methods in carrying out the work and complying with all federal and state laws and all ordinances and codes of the City relating to such work. Failure on the part of the submitting Proposer to comply with the conditions, terms, specifications, and requirements of the RFP shall be cause for cancellation of the RFP award, notwithstanding any additional requirements enumerated in the Special Conditions herein relating to performance-based contracting. The City may, by written notice to the Responding Firm, terminate the Agreement for failure to perform. The date of termination shall be stated in the notice. The City shall be the sole judge of nonperformance. 4.5 REPORTING AND PRESENTATION REQUIREMENTS • Prepare written financial advisory reports summarizing findings, analyses, and recommendations. • Develop financial summaries and executive-level reports suitable for City leadership and elected officials. • Present findings to City staff, advisory committees, or the City Commission as requested. 4.6 MEETINGS AND COORDINATION Facilitate monthly C-suite briefings to assess the current standing of all active projects, ensuring alignment with the City's strategic priorities and financial objectives. These sessions will provide senior leadership with a comprehensive performance review, surfacing critical risks, emerging opportunities, and key milestones requiring executive attention. Each meeting will drive accountability across project stakeholders, enabling informed, data-driven decisions that keep initiatives on schedule, within budget, and positioned for long-term success. 4.7 EXPECTED TIMELINE BY THE CITY The City would like plans to award this contract in Spring 2026. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 16 W," City of Boynton Beach *omaProcurement Services 4.8 TERM OF PROFESSIONAL SERVICES CONSULTANT CONTRACT The City intends to issue a term contract for these professional services for Three-years with one two-year renewal. 4.9 AGREEMENT TERM AND OPTIONAL AMENDMENT EXTENSION The City reserves the right to extend this Agreement for a period not to exceed six (6) months in order to ensure uninterrupted services while a new contract is solicited, evaluated, and/or awarded. Such extension shall be effectuated only by mutual agreement, evidenced through a written Amendment notice executed by the Consultant and filed with the City's Procurement Department, without the need for further City Commission action. This temporary extension shall be deemed an additional term of the Agreement and shall obligate the Consultant to continue providing services in accordance with all existing terms and conditions. 4.10 CITY RESPONSIBILITY The City shall provide reasonable cooperation, information, and access necessary for the Consultant to perform the services described in this solicitation. The City's responsibilities may include, but are not limited to, the following: A. Designated Project Manager The City shall designate a Project Manager who will serve as the primary point of contact between the City and the Consultant. The Project Manager will coordinate communications, facilitate access to City staff and information, and review deliverables. B. Access to Information and Documentation The City shall provide the Consultant with available information necessary to perform the requested services, including but not limited to: • Relevant project documentation • Financial and budget information • Capital Improvement Program (CIP) data • Existing studies, reports, or feasibility analyses • Applicable City policies, ordinances, and regulations • Information submitted by P3 proposers The City does not guarantee the completeness or accuracy of all information provided, but will make reasonable efforts to supply available data. C. Coordination with City Departments The City will facilitate coordination with appropriate departments and staff necessary for project evaluation, including but not limited to Finance, Procurement, Legal, Engineering, Planning, and other relevant departments. D. Review and Feedback on Deliverables The City shall review reports, financial models, and other deliverables prepared by the Consultant and provide timely feedback, comments, or direction necessary for the completion of the work. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 17 r�A e = o � City of Boynton Beach pa°"' Procurement Services E. Decision-Making Authority The City retains full decision-making authority regarding the evaluation, acceptance, rejection, or negotiation of any P3 proposal or project structure. Recommendations provided by the Consultant shall be advisory in nature. F. Meetina and Presentation Coordination The City may request the Consultant to attend meetings with City staff, advisory committees, or the City Commission. The City will coordinate scheduling and provide reasonable notice for such meetings. G. Access to Stakeholders When necessary, the City may facilitate communication between the Consultant and relevant stakeholders, including City staff, external advisors, and proposers, subject to procurement and legal requirements. H. Procurement and Contract Administration All procurement activities, communications with proposers, and contract administration activities shall remain under the authority of the City in accordance with applicable procurement policies, ordinances, and regulations. Inspection and Acceptance of Work Produced The City has the right to review, require correction, if necessary, and accept the work produced by the Consultant. Such review(s) shall be carried out within thirty (30) calendar days to not impede the work of the Consultant. Any product of work shall be deemed accepted as submitted if the City does not issue written comments and/or required corrections within thirty (30) calendar days from the date of receipt of such product from the Consultant. The Consultant shall make any required corrections promptly at no additional charge and return a revised copy of the work requested to the City within seven (7) business days of notification or a later date if extended by the City. Failure by the Consultant to proceed with reasonable promptness to make necessary corrections shall be a default. If the Consultant's submission of corrected work remains unacceptable, the City may terminate the resulting contract (or the task order involved) or reduce the contract price or cost to reflect the reduced value of services received. J. Performance Review Evaluation The awarded Consultant may receive a performance evaluation by City Staff during the course of the term contract. The City's Project Manager or Contract Administrator shall complete performance evaluations at the first year of the contract or more frequent intervals as required by the Agreement and at the time of the end of the term contract. Should the services provided by the Consultant fail to meet the expectations of the City's Project Manager, the Consultant shall have a period of ten (10)working days from the date notice is given to the Consultant by the City to correct all deficiencies in the under the contract. All corrections shall be made to the satisfaction of the City Project Manager. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 18 m = City of Boynton Beach '�� Procurement Services Inability to correct all deficiencies within the specified ten days shall be good and sufficient cause to immediately terminate the contract without the City being liable for any and all future obligations under the Agreement as determined by the City at its sole discretion. The City, in its judgment, may elect to compensate the Consultant for any accepted work product through the date of termination of an authorized Purchase Order, provided it is in a form sufficiently documented and organized to allow subsequent utilization in completing the work product. The City's Project Manager shall contact a Procurement representative to advise of any performance issues so that Procurement can assist with bringing performance back to acceptable standards. It is equally important to complete the "Consultant Performance Evaluation Form whenever any of the performance indicators are either"marginal" or"unsatisfactory". In the event the Average Rating Score is "marginal" or "unsatisfactory" even after reasonable efforts have been taken by the City to improve performance, the City's Project Manager shall coordinate with Procurement to determine what action needs to be taken under the circumstances. The Contract Performance Evaluation Form enclosed within this document illustrates a sample evaluation form to be used by the City for the various types of services provided by the City. The Consultant shall not communicate directly with proposers or private entities regarding P3 submissions unless authorized by the City. THE REMAINDER OF THIS PAGE WAS LEFT BLANK INTENTIONALLY RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 19 Y p! ° z p V City of Boynton Beach "'per Procurement Services SECTION V — SUBMISSION OF PROPOSALS RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) 5.1 GENERAL REQUIREMENTS The purpose of the Technical Proposal is to demonstrate the qualifications, competence, and capacity of an independent financial advisory and analytical services to assist the City in evaluatina and structurina Public-Private Partnership(P3) proposals and initiatives. The City will evaluate the substance of the Proposal over its length, form, or presentation style. 5.2 DETAILS OF PROPOSAL Each section listed below shall be added to the corresponding upload section and completed online via the e-procurement system. All detailed proposal requests outlined below, along with the required forms, shall be submitted online. A. Letter of Interest The Letter of Interest to the Evaluation Committee summarizes the Proposer's primary qualifications and a firm commitment to provide the proposed services. B. Proposer's Qualifications: Company Culture/Structure and Experience Proposer shall complete and submit the Proposer's Qualification Statement. a Company Profile Number of years in business, ownership structure, and number of employees. tz Organizational Structure Submit an organizational chart illustrating reporting lines and the division of responsibilities for all staff assigned to this engagement. For each team member, provide a detailed description of their role, responsibilities, relevant professional experience, and educational background. c SUNBIZ Proof of authorization (SUNBIZ) from the Florida Secretary of State to transact business in the State from the Proposer. d Relevant Experience Outlined in the Scope of Work. e. Applicable Insurance Submit current proof of General and Professional Liability Insurance Certificate of Insurance (COI). C. Technical / Operational Proposal a. Sample Work Product: Proposer shall provide a comparable redacted engagement that demonstrates a value-for-money analysis or financial model summary. b. Understanding of the Scope of Work: - Proposer needs to demonstrate its understanding of the City's specific P3 objectives, challenges, and RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 20 Y�! Y City of Boynton Beach 4,0M•`• Procurement Services procurement environment. This separates firms that read the RFP carefully from those submitting boilerplate responses. c. Technical Approach & Methodology a detailed narrative of how the firm will approach each core service area, including value-for-money and public sector comparator analysis, risk identification, quantification, and allocation framework, financial modeling and deal structure evaluation, market sounding and investor/developer engagement support, and procurement and contract negotiation advisory. d. Proposed Work Plan & Schedule: Proposer shall provide a phased work plan tied to the City's anticipated procurement timeline, including key milestones, deliverables by phase, and how the firm will adapt if the schedule shifts. e. Key Personnel & Staffing Plan: Proposer shall submit profiles for all personnel proposed for this engagement, their specific roles and responsibilities, their availability and commitment percentage throughout the engagement, and an organizational chart showing team structure and the City's primary points of contact. In addition, include a current one-page résumé for each individual. f. Subcontractors & Teaming Arrangements: Proposer shall identify any subconsultants, their specific roles, and how the prime firm will oversee and integrate their work to ensure quality and accountability. g. Quality Control & Project Management: Proposer shall show how the firm manages internal review of financial models and deliverables, handles version control and document management, and maintains consistent communication with City staff throughout the engagement. h. Conflicts of Interest Disclosure: Proposer shall provide a full disclosure of any relationships with P3 investors, developers, lenders, or operators that could create a conflict, along with the firm's policy for managing conflicts if they arise mid- engagement. D. Financial Proposal Requirements The purpose of the Financial Proposal is to establish the Proposer's financial responsibility, stability, and capacity under the Agreement. a Financial Statements • Proposers are encouraged to submit audited financial statements for the most recent two (2) fiscal years, including a balance sheet, income statement, and statement of cash flows. • If audited statements are not available, the City will accept compiled or reviewed financial statements prepared by a licensed Certified Public Accountant (CPA), accompanied by the firm's notes and disclosures. • In the absence of the above, the City may accept the last two (2) years of federal tax returns, with all personal identifiers redacted, as alternative documentation of financial stability. • The City will also consider other reasonable documentation that demonstrates the proposer's financial capacity, recognizing that small businesses may have different forms of records. tx Proof of Financial Stability • Letter of Creditworthiness or Bank Reference Letter • Disclosure of Bankruptcy or Insolvency proceedings within the last five (5) years. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 21 r�R O V City of Boynton Beach `'°•°` Procurement Services E. Litigation Disclosure Requirement: Proposers are required to disclose all litigation, claims, or legal proceedings—past or pending—filed within the last fifteen (15) years involving the proposing firm, its principals, owners, officers/directors, or any related entities. This disclosure must include all companies in which the proposer, or any partner/officer/director thereof, has held an ownership interest or has been listed as a Registered Agent or Officer/Director in the Florida Division of Corporations (SUNBIZ). This includes all related parties listed in SUNBIZ. The proposer shall identify each such entity by the following: • Legal name • FEI/EIN Number • Document number, • Registered Agent Name & Address • Business address • Principal Address • Mailing Address If any litigation has taken place under the Entity Name, Proposer shall provide a summary of each case, including the nature of the dispute, jurisdiction, case number, and final disposition or current status. Failure to disclose any such litigation or to identify all affiliated entities as defined herein shall be presented to the evaluation committee, and any omissions will be subject to review of the evaluation committee to be determined non-responsive. The City reserves the right to verify SUNBIZ records and other public filings to confirm compliance with this requirement. All information will be verified by the Procurement Division to ensure compliance with this requirement. F. References At least 3 recent/current Consultant contracts with contact information. Provide a list of three (3) references or similar contracts for which the Proposer has completed or is in progress within the past ten (10) years with the following information: • Name of Agency • Address • Contact Name, Email Address • Telephone Number The City is interested in learning about other firms' or government agencies' experiences with your firm; as such, please do not list the City of Boynton as a reference. Contact persons must be informed that they are being used as a reference and that the City or their designee will be contacting them for information. Selection Committee Members or designee may email or call each reference up to three (3) times. If there is no answer after the third attempt, the City may apply no points for that contract experience. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 22 on o � City of Boynton Beach Procurement Services 5.3 EXCEPTIONS BY PROPOSER A. Incorporation in a proposal of exceptions to any portion(s) of the Contract Documents may invalidate the proposal. Exceptions to the Scope of Work and/or Special Provisions shall be clearly and specifically noted in the submitted proposal on a separate sheet marked "EXCEPTIONS TO THE SPECIFICATIONS." which shall be attached to the proposal. B. Any exceptions taken to the terms and conditions of the solicitation or the City's Agreement shall be considered a part of the Proposer's solicitation response and will be considered by the City in its evaluation. Any exception not specifically stated is deemed waived. Submission of any exceptions does not denote acceptance by the City. Furthermore, taking exceptions to the City's terms and conditions may be viewed unfavorably by the City/evaluation committee and ultimately may impact the overall evaluation of a Proposer's submittal. C. The use of the Proposer's standard forms or the inclusion of the manufacturer's printed documents shall not be construed as constituting an exception within the intent of the Contract Documents. 5.4 SUB-CONSULTING A. If a Proposer utilizes sub-consultants for any portion of the Agreement for any reason, the Proposer should state the name and address of the sub-consultant and the name of the person to be contacted on the online form within the e- procurement system under "Schedule of Sub-consultant." B. The City of Boynton Beach reserves the right to accept or reject any or all proposals wherein a sub-consultant is named and to make the award to the Consultant, who, in the opinion of the City, will be in the best interest of and/or most advantageous to the City. C. The City also reserves the right to reject a submission of any Proposer if the solicitation names a sub-consultant who has previously failed to perform an award properly or failed to deliver on-time contracts of a similar nature or who cannot perform correctly under this award. D . The City reserves the right to inspect all facilities of any sub-consultant to determine the foregoing. E. The sub-Consultant will be equally responsible for meeting all requirements specified in this Request for Proposals (RFP). F. Proposers are encouraged to seek participation from minority and women-owned business enterprises in subcontracting opportunities. The City reserves all rights to determine the foregoing. 5.5 DIGITAL FORMS TO BE COMPLETED WITH EACH PROPOSAL A. Certification H. Firm's Primary Ownership B. Vendor Drug-Free Workplace I. Local Boynton Beach C. Offeror's Qualification Preference Statement J. Palm Beach Inspector General D. References Acknowledgement E. Scrutinized Companies List K. Proposer Acknowledgement F. E-Verify Compliance L. Sub-Consultant's Form if G. Sub-Contractor Form applicable RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 23 Y�n e T o � City of Boynton Beach 647 Procurement Services 5.6 FORMS THAT MUST BE UPLOADED TO THE DOCUMENT UPLOAD SECTION Document Upload 1: A. Letter of Interest and B.Proposer's Qualifications: Company Culture/Structure and Experience Document Upload 2: C. Technical / Operational Proposal and Proposer's Qualification Statement (includes all items in Section V — Submission of Proposals Document Upload 3: D. Financial Proposal Requirements (includes all items requested in Section V— Submission of Proposals D.) Document Upload 4: E. Litigation Disclosure Requirement (includes all items requested in Section V—Submission of Proposals E.) Document Upload 5. Non-Collusion Affidavit, Anti-Human Trafficking Affidavit, Scrutinized Companies, E-Verify Affidavits, Foreign Entity Affidavit, and Anti-Kickback Affidavit Document Upload 6: Sample of Certificate of Insurance per the Requirements Document Upload 7: Proof of State Certified or Professional Licenses Document Upload 8: Proof of Local Boynton Beach Business Status Document Upload 9: Optional others Proposer may want to include 5.7 PRICE PROPOSAL SHEET A separate document where Proposers will input the pricing. 5.8 AGREEMENT Proposer agrees that by submitting a proposal that is accepted by the City of Boynton Beach, a binding Agreement is formed in accordance with the City's terms, conditions, and specifications as set forth in the purchase order, unless otherwise agreed by the City and the Proposer. The Proposer certifies that the proposal has been made by an officer or employee having the authority to bind the Proposer. THE REMAINDER OF THIS PAGE WAS LEFT BLANK INTENTIONALLY RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 24 r oe o z o � City of Boynton Beach Procurement Services SECTION VI — EVALUATION OF PROPOSALS RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) 6.1 EVALUATION METHODOLOGY A preliminary evaluation of each Proposal will be conducted through the City's electronic e-procurement system Bovnton-beach.bidsandtenders.net by the City's assigned Procurement Agent or Designee. This evaluation determines if the Proposal is responsive to the solicitation requirements as outlined in this document based on the submission. A responsive Proposal follows the solicitation requirements, includes all documentation, is submitted in the format outlined in this solicitation, is of timely submission, and has the appropriate signatures as required on each document. Failure to comply with these requirements may result in the Proposal being deemed non-responsive. The selection of the best-qualified Respondent(s) will be based on whether the Respondent(s) are responsible and responsive, which means a Firm that has submitted a proposal that conforms in all material respects to the requirements in this RFP. The criteria provided in SECTION V – SUBMISSIONS OF PROPOSALS is provided to assist the Proposer in the allocation of their time and efforts during the submission process. 6.2 EVALUATION COMMITTEE The City will convene an Evaluation Committee composed of qualified City staff and, where appropriate, external consultants with relevant expertise. The Committee may also include a non-voting Financial Resource member to provide specialized insight into proposers' financial documentation and fiscal standing. The Evaluation Committee will conduct its review and scoring in a manner that upholds the best interests of the City and the residents it serves. While the proposal price submission will be considered as part of the overall evaluation, it shall not serve as the sole or determinative basis for selection. The Evaluation Committee will operate in accordance with the following procedures: • Qualification Review — The Committee will review all written submissions to determine whether each proposer is qualified to deliver the required services in compliance with applicable State regulations and the requirements set forth in this RFP. • Evaluation Framework — Proposals may be assessed using a weighted criteria matrix, which serves as the Committee's scoring framework throughout both the shortlisting and final evaluation phases, or through the option of ordinal ranking. • Public Meeting — All Evaluation Committee review meetings will be publicly noticed and open to attendance by any interested party. Individual scores should be electronically opened and read aloud for deliberation among Committee members. • Clarifications and Presentations —The Committee reserves the right, at its sole discretion, to request discussions, interviews, presentations, or additional information from any proposer to clarify or supplement their submission. RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 25 t�P s T o � City of Boynton Beach '°" Procurement Services • Equal Time Standards — Where interviews or presentations are conducted, the Committee may establish uniform time limits for all firms to ensure consistency and fairness throughout the evaluation process. Presentation scores will be incorporated into the final rankings upon conclusion. • Award Recommendation — Upon completion of final rankings, the Evaluation Committee should formally motion a recommendation for contract award, which will provide the final ranking and allow the team to begin negotiations. • Contract Execution— Following negotiations and the City Commission approval, the City's authorized representative will execute an Agreement based on the draft contract accompanying this RFP, incorporating all negotiated terms and conditions. • Reserved Rights — The City reserves the right to incorporate additional contractual provisions as determined to be in the City's best interest, at the City's sole discretion. Q CONE OF SILENCE—IMPORTANT NOTICE Q Any contact with City of Boynton Beach personnel other than the designated Procurement Representative during the solicitation, evaluation, and award process is strictly prohibited and may result in immediate disqualification from the selection process. All inquiries must be directed exclusively to the Procurement Representative in the manner prescribed in this RFP. 6.3 EVALUATION CRITERIA TABLE These criteria serve as the evaluation framework used by the Evaluation Committee during both the scoring and, if applicable, the shortlisting process. No. Evaluation Description Max Weight Criteria Points (%) Experience and Firm's organizational structure, P3 and public o 1' Qualifications finance experience, key personnel qualifications, 0-20 20/o and capacity to perform the scope of services. Technical / Proposed methodology, understanding of the 2. Operational Plan City's P3 objectives, work plan, schedule, quality 0-20 25% and Proposal control, and staffing approach. Firm's financial health and capacity to sustain the Financial engagement, including supporting documentation o 3. Stability and disclosure of any bankruptcy or insolvency 0-20 20/o proceedings. P3 Market Depth of P3 market knowledge, investor and developer relationships, innovative deal o 4. Knowledge & structuring, and ability to add strategic value 0-20 25/o Innovation beyond standard advisory services. Strength and relevance of references, 5. References particularly from municipal or similarly scaled 0-20 10% operations. Local Business Proposer is a registered business with a physical 6. Preference address in the City of Boynton Beach. 0 or 5 5% Documentation must be provided. Total –Written Proposal II 105 II 100% RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 26 •oe m z o � City of Boynton Beach '��•`P Procurement Services No. Evaluation Description Max Weight Criteria Points (%) Presentations Presentations to be evaluated separately by the 0 -7. 25% (If Requested) Evaluation Committee if deemed necessary. 100 A. Local Business Preference The City of Boynton Beach Administrative Policy No. 10.16.01 provides for a local business preference. "For all acquisitions made pursuant to Requests for Proposals, Requests for Qualifications, or Requests for Letters of Interest, the solicitation shall include a criterion for Local Businesses of five percentage points (5%) of the total points in the evaluation criteria published in the solicitation. Local Preference shall not be applied when its application would result in an award that exceeds the otherwise lowest responsive, responsible proposer by 5% or $5,000 whichever is lower. For all acquisitions made pursuant to Requests for Proposals, Requests for Qualification, or Requests for Letters of Interest, where the solicitation includes a qualitative ranking rather than a quantitative selection, the evaluation criteria shall include a Local Business preference, as reasonably determined by the Procurement Services, consistent with the intent of this Policy. Each such solicitation shall clearly define the application of the Local Business preference." Respondents must include the Local Business Status Certification Form with their RFP submissions to be considered for a local business preference. Failure to submit this form at the time of RFP submittal will result in the Respondent being found ineligible for the local business preference for this solicitation and will receive zero (0) points for that criterion. If the Respondent meets the requirements of a local business as defined by the preference, the proposal will be awarded the total 5 points allotted by each evaluation committee member. Firms not meeting the Preference requirements will receive zero points in this evaluation criterion. To receive this preference: • Respondents must submit the Local Business Status Certification Form with their proposal. • Failure to submit this form at the time of submittal will result in zero (0) points awarded for this criterion. • Qualifying firms will receive 5 points from each Evaluation Committee member. • Firms not meeting the requirements will receive zero (0) points. Note: This preference is not applicable where prohibited by local, state, or federal grant funding. 6.4 GUIDELINES FOR ASSIGNING AWARD POINTS AND EVALUATION SCORING Each Evaluation Committee Member shall assign a score from 0 to 20 for each criterion based on their individual assessment of the Proposer's response. The following qualitative guidelines are intended to standardize scoring and ensure consistent evaluations across committee members: 18-20 — Outstanding Response RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 27 r o o T O Y City of Boynton Beach "'��••` Procurement Services A highly comprehensive and exceptional submission that exceeds all stated requirements. The proposal is detailed, insightful, and demonstrates authoritative expertise. It may include innovative recommendations or value-added elements not specifically requested but beneficial to the City. 15-17 – Excellent Response A well-developed and thoughtful response that fully meets all RFP requirements. The proposal reflects strong experience, understanding, and preparedness relevant to the category, and offers meaningful insights. 11-14– Good Response A solid and complete submission that meets all requirements. The response is clear, logical, and demonstrates a good grasp of the subject matter, with no significant weaknesses. 6-10 – Fair Response An adequate submission that meets the basic expectations but lacks depth or detail. While compliant, the proposal provides limited insight or added value and reflects only a moderate understanding of the subject. 1-5– Inadequate Response A minimal or insufficient response that barely meets the criteria. The proposal lacks clarity, completeness, and understanding of the RFP requirements. 0 – Failed or No Response The proposer failed to address the evaluation criterion or did not provide a response at all. 6.5 SHORTLISTING Following the initial review and scoring of all submitted proposals, the Evaluation Committee reserves the right to shortlist the most qualified proposers prior to conducting presentations, interviews, or entering into negotiations. Shortlisting allows the City to focus its evaluation resources on those proposers whose submissions most closely align with the City's objectives, requirements, and evaluation criteria as outlined in this RFP. The shortlisting process may be based on, but is not limited to, the following considerations: • Threshold Compliance — Only proposals that meet all mandatory submittal requirements and minimum qualifications as specified in this RFP will be eligible for shortlisting consideration. • Evaluation Scores — Proposals will be ranked based on their cumulative scores as assessed by the Evaluation Committee, with the highest-scoring firms advancing to the shortlist. ■ Qualifications and Experience — Demonstrated expertise, relevant project experience, and the overall capacity of the proposing firm to successfully deliver the required scope of services. • Approach and Methodology — The strength, clarity, and innovation of the proposer's technical approach, work plan, and understanding of the project's goals and challenges. ■ Value and Feasibility — The reasonableness and competitiveness of the proposed pricing, timeline, and overall feasibility of the proposed solution. The City reserves the right to determine the number of proposers to be shortlisted based on the quality and competitiveness of the submissions received. Shortlisted proposers may be invited to participate in oral presentations, interviews, or clarification sessions as determined by the Evaluation Committee prior to final ranking and selection. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 28 JY�R • \ Z City of Boynton Beach ��`'�� Procurement Services 6.6 CITY'S RIGHT TO USE ORDINAL RANKING The Evaluation Committee reserves the right to employ an Ordinal Ranking methodology, whereby all submitted proposals are ranked collectively in order of preference — from most to least favorable — based on a holistic assessment of overall quality, innovation, and feasibility. This approach provides the Committee with a structured, comparative framework for evaluating the relative merit of competing proposals. Should Ordinal Ranking be utilized, the vendor whose proposal receives the highest collective ranking will be formally recommended for contract award. The City will then enter into direct negotiations with the top-ranked proposer to finalize the terms, conditions, and scope of the contract. Upon successful conclusion of negotiations, the finalized contract will be presented to the City Commission for review and approval before execution. 6.7 ADDITIONAL CLARIFICATION The City reserves the right to seek clarification from any or all Proposers if the information received during the evaluation process requires further explanation. Clarifications may be requested either before or after shortlisting, depending on what the Evaluation Committee determines to be in the best interest of the City. 6.8 ORAL INTERVIEWS/PRESENTATIONS (IF REQUIRED) If presentations are requested: • Each shortlisted proposer may be asked to present to the Evaluation Committee. • Presentations will be scored from 0 to 100 points, weighted at 25% of the overall evaluation. • The Committee may choose to waive presentations if a clear top-ranked proposer is evident from the written responses. 90-100 – Outstanding Presentation A highly polished and exceptional presentation that exceeds all stated expectations. The content is comprehensive, insightful, and demonstrates authoritative expertise. The presenter(s) communicate clearly and confidently, using strong visuals, storytelling, or other engaging methods. May include innovative recommendations or value-added elements not specifically requested but beneficial to the City. 80-89 – Excellent Presentation A well-structured and professional presentation that fully meets the requirements. The content reflects strong knowledge, understanding, and preparedness. The delivery is confident and engaging, supported by effective visuals and meaningful insights that add value. 70-79 – Good Presentation A solid and complete presentation that meets the requirements. The information is clear, logical, and demonstrates a good grasp of the subject matter. Visuals and delivery are competent, though not particularly memorable. No significant weaknesses are present. 60-69 – Fair Presentation An adequate presentation that meets the basic expectations but lacks depth, detail, or engagement. While compliant, the presentation provides limited insight or added value. Delivery may be uneven, and visuals may be generic or underdeveloped. 50 and Below– Inadequate Presentation RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 29 Y�R U City of Boynton Beach Procurement Services A minimal or insufficient presentation that barely meets the criteria. The content is unclear, incomplete, or poorly organized, with little evidence of understanding. Delivery is weak, visuals are ineffective, and the presentation fails to demonstrate preparedness. 6.9 BEST AND FINAL OFFER A process requested from one proposer or short-listed proposers for their best price(s) for a specific solicitation before determining a contract award. This shall be at the discretion of the Evaluation Committee. Proposers shall be accorded fair and equal treatment with respect to any opportunity for discussion and revision of proposals, and such revisions may be permitted after submissions. The City reserves the right to request Best and Final Offers from any or all Proposers if it is determined that further revisions to the proposal, including the proposed price, are necessary. 6.10 NEGOTIATIONS Following the Evaluation Committee's determination of the top-ranked or top-scoring proposer(s), the City reserves the right to enter into negotiations with the highest- ranked/scoring firm to establish final contract terms, conditions, pricing, and scope of services. The City's negotiating team will be authorized to discuss and refine all elements of the proposal to ensure the resulting agreement reflects the best value and serves the public interest. Negotiations will be conducted in good faith by both parties and may address, but are not limited to, the following: • Scope of Services — Clarification, modification, or expansion of the proposed scope to align with the City's operational needs and objectives. • Pricing and Compensation — Review and negotiation of proposed fees, rates, and payment structures to ensure fiscal responsibility and market competitiveness. • Performance Standards and Deliverables — Establishment of measurable benchmarks, timelines, and deliverable requirements to ensure accountability throughout the contract term. • Terms and Conditions— Negotiation of contractual terms, including but not limited to insurance requirements, indemnification, termination provisions, and compliance obligations. If the City and the top-ranked proposer are unable to reach a mutually acceptable agreement within a reasonable timeframe as determined by the City, the City reserves the right to terminate negotiations and initiate the same process with the next highest-ranked proposer. This process may continue until a satisfactory agreement is reached or the City elects to reject all proposals. All negotiations shall remain confidential and are not subject to public disclosure until a final contract has been executed or the procurement process has concluded. The City is not obligated to accept any proposal and reserves the right to cancel the negotiation process at any time without liability. 6.11 FINAL SELECTION Upon the successful conclusion of negotiations, a final contract reflecting all agreed-upon terms, conditions, pricing, and scope of services will be prepared and presented to the RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 30 �A City of Boynton Beach "'°N Procurement Services City Commission for review and final approval. No agreement shall be deemed binding or effective until such approval has been granted by the City Commission and the contract has been duly executed by all authorized parties. Upon the City Commission's approval of the negotiated contract, the selected proposer will be formally notified of their award and designated as the City's contracted vendor for the specified scope of services. This notification shall constitute the City's final selection and will serve as the basis for contract execution. The final selection and contract award are contingent upon the satisfaction of all applicable conditions, including but not limited to: • Commission Approval — Formal authorization by the City Commission through the adoption of an authorizing resolution or motion. • Contract Execution — Full execution of the negotiated contract by all authorized parties, including the selected vendor and the appropriate City officials. • Compliance Verification — Confirmation that the selected proposer remains in compliance with all applicable licensing, insurance, bonding, and regulatory requirements as stipulated in this RFP. • Background and Reference Verification — Satisfactory completion of any required background checks, reference verifications, or financial reviews as deemed necessary by the City. The City reserves the right to rescind a selection or withdraw a contract award at any time prior to full approval and execution if the selected proposer fails to meet any of the foregoing conditions, is found to have misrepresented information in their proposal, or if circumstances arise that are not in the best interest of the City or the public. The City's decision regarding final selection shall be final and conclusive. All proposers may be notified of the outcome of the selection process in accordance with applicable public records and procurement regulations. Unsuccessful proposers may request a debriefing to discuss the evaluation of their proposal, which the City may provide at its discretion. THE REMAINDER OF THIS PAGE WAS LEFT BLANK INTENTIONALLY RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Profess)onal Services Consultant 31 •oF, q( City of Boynton Beach "'� Procurement Services SECTION VII — CONTRACT AWARD PROCESS RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) 7.1 NOTICE OF INTENT TO AWARD Upon completion of the evaluation process, the City of Boynton Beach's Procurement Services will issue a Notice of Intent to Award ("NOIA") to the highest-ranked, responsible Proposer whose proposal is deemed most advantageous to the Issuer, price, and other factors considered. The NOIA will be posted to the City's e-procurement system. The issuance of a Notice of Intent to Award does not constitute a binding contract or guarantee of final award. The Issuer reserves the right to cancel the NOIA, reject any or all proposals, or re-solicit at any time before the execution of a final written contract, without liability to any Proposer. 7.2 CONTRACT NEGOTIATIONS Upon issuance of the Notice of Intent to Award, the CITY reserves the right to enter into contract negotiations with the highest-ranked, responsive, and responsible Proposer prior to final Commission approval and award. The purpose of such negotiations is to clarify and finalize the scope of services, contract terms and conditions, deliverables, performance standards, and compensation structure in a manner that best serves the interests of the Issuer. Negotiations shall be conducted by the designated Procurement Agent and a negotiation team and shall commence shortly after the posting of the Notice of Intent to Award. Both parties shall negotiate in good faith with the objective of executing a mutually acceptable contract. The Issuer reserves the right to extend this period at its sole discretion. If the CITY and the highest-ranked Proposer are unable to reach a mutually acceptable agreement within the allotted negotiation period, the CITY reserves the right to terminate negotiations with that Proposer without liability and commence negotiations with the next highest-ranked, responsive, and responsible Proposer. This process may continue until a satisfactory agreement is reached or the CITY elects to re-solicit proposals. 7.3 CONTRACT EXECUTION Upon successful completion of contract negotiations, the selected Proposer("Contractor") shall execute the contract and return all required documentation to the City of Boynton Beach ("City")within at least five (5)calendar days of receipt of the final contract. Required documentation shall include, but not be limited to, executed contract counterparts, evidence of required insurance coverage, performance and payment bonds(if applicable), and any other documents specified by the City as a condition of award. 7.4 COMMISSION APPROVAL Once the Contractor has executed the contract and submitted all required documentation, the City shall present the fully executed contract to the City Commission for final approval and award. The contract shall not be deemed effective or binding upon the City until it has been approved by the City Commission and subsequently executed by all authorized RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 32 (�.Ir o m �� e Z City of Boynton Beach "'°°°`P Procurement Services signatories of the City. No work shall commence, and no costs shall be incurred on behalf of the City, prior to full contract execution by all parties and the issuance of a written Notice to Proceed. 7.5 ISSUANCE OF PURCHASE ORDER A. Authorization. No services shall be performed, and no costs shall be incurred, authorized, or obligated by the Contractor until the City of Boynton Beach ("City") has issued a fully executed Purchase Order to the Consultant. The Purchase Order shall constitute the City's official authorization to proceed and shall be issued in accordance with the City's procurement policies, applicable ordinances, and the terms and conditions of this Agreement. B. No Work Without Purchase Order. The Contractor expressly acknowledges that the City shall have no obligation to compensate the Contractor for any services performed or expenses incurred prior to or in the absence of a duly issued Purchase Order. Verbal authorizations, emails, or other informal communications shall not constitute authorization to proceed and shall not be binding upon the City. C. Amendments to Purchase Order. Any modification to an issued Purchase Order, including changes to the scope, amount, or performance period, must be made through a written amendment executed by an authorized representative of the City. No such modification shall be effective unless made in accordance with this Section and the City's applicable procurement regulations. D. Compliance with City Procurement Requirements. All Purchase Orders issued under this Agreement shall be subject to and governed by the City of Boynton Beach's procurement code, administrative policies, and any applicable requirements under Florida law, including but not limited to Chapter 287, Florida Statutes, where applicable. REP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 33 • r ° V City of Boynton Beach °'°N Procurement Services 01-Y 8.3 PALM BEACH COUNTY INSPECTOR GENA G x The ERProposer and, if awarded °� P Consultant, is aware that the Inspector ETON � General of Palm Beach County has the SECTION VIII — STANDARD authority to investigate and audit matters relating to the negotiation and GENERAL TERMS AND performance of any Agreement resulting from this solicitation and, in furtherance PROVISIONS thereof, may demand and obtain records STRATEGIC P3 FINANCIAL and testimony from the Consultant and ADVISORY SERVICES its sub-consultant and lower-tier sub- consultants. Professional Services The Consultant understands and agrees (Consultant) that in addition to all other remedies and RFP No. 26-053R consequences provided by law, the failure of the Consultant or its sub- consultants or lower-tier sub-consultants Unless otherwise agreed to by the City of to fully cooperate with the Inspector Boynton Beach ("City"), the following Standard General when requested may be Terms and Conditions are applicable to this deemed by the municipality to be a solicitation and the resulting Agreement. The material breach of this Agreement term "vendor," as used below, may collectively justifying its termination. apply to vendors, bidders, proposers, 8.4 OTHER AGENCIES consultants, contractors, subcontractors, and Any Agreement(s) resulting from this subconsultants. RFP and from this submitted proposal 8.1 DISPUTES may, upon mutual agreement, permit any municipality or other governmental In case of any doubt or difference of agency to participate in the Agreement opinion as to the items to be furnished under the same prices, terms, and hereunder, the decision of the City conditions if agreed to by both parties. Manager shall be final and binding on both parties. It is understood that at no time will any 8.2 COMPLIANCE WITH OCCUPATIONAL city, county, municipality,or other agency SAFETY AND HEALTH: be obligated to place an order for any other city, county, municipality, or The Proposer certifies that all material, agency, nor will any city, county equipment, etc., contained in this municipality, or agency be obligated for proposal meets all O.S.H.A. any bills incurred by any other city, requirements. Proposer further certifies county, municipality, or agency. that if awarded as the Consultant, and the material equipment, etc. delivered is Further, it is understood that each subsequently found to be deficient in any agency will issue its own purchase order O.S.H.A. requirement in effect on the or contract to the awarded Proposer(s). date of delivery, all costs necessary to bring the materials, equipment, etc., into 8.5 VENUE AND GOVERNING LAW: compliance with the aforementioned Any and all legal actions arising from or requirements shall be borne by the necessary to enforce this solicitation and Proposer. resulting Agreement will be held Proposer certifies that all employees, exclusively in Palm Beach County and subcontractors, agents, etc. shall comply shall be interpreted according to the laws of Florida. with all O.S.H.A. and State safety regulations and requirements. 8.6 NON-DISCRIMINATION & EQUAL RFP No 26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 34 Y°R ° Z O U City of Boynton Beach Procurement Services OPPORTUNITY EMPLOYMENT a material breach of this A. The City is committed to solicitation and the resulting assuring equal opportunity in agreement/contract and may awarding orders/contracts and result in termination of the complies with all laws prohibiting agreement/contract, discrimination. disqualification, or debarment of B. During the performance of the the company from participating Agreement, the Consultant and in City contracts, or other its sub-consultants shall not sanctions. discriminate against any 8.7 INDEPENDENT CONTRACTOR employee or applicant for RELATIONSHIP: employment because of race, The Proposer and, if awarded color, sex, including pregnancy, Consultant, is, and shall be, in the religion, age, national origin, performance of all work, services, and ancestry, marital status, political activities under this solicitation and the affiliation, familial status, sexual resulting Agreement, an independent orientation, gender identity, Contractor and not an employee or agent expression, or disability if of the City.All persons engaged in any of qualified. the work or services performed pursuant C. The Consultant will take to the Agreement shall, at all times and in affirmative action to ensure that all places, be subject to the Consultant's employees and those of its sub- sole direction, supervision, and control. consultants are treated during The Consultant shall exercise control employment, without regard to over the means and manner in which it their race, color, sex, including and its employees perform the work, and pregnancy, religion, age, in all respects, the Consultant's national origin, ancestry, marital relationship, and the relationship of its status, political affiliation, familial employees, to the City shall be that of an status, sexual orientation, independent contractor and not as gender identity, expression, or employees or agents of the City. disability if qualified. 8.8 OMISSION OF DETAILS D. Such actions must include, but not be limited to, the following: Omission of any essential details from employment, promotion; the terms or specifications contained demotion or transfer; recruitment herein will not relieve the responding or recruitment advertising, layoff Firm of supplying such product(s) or or termination; rates of pay or service as specified. other forms of compensation; 8.9 LEGAL EXPENSES: and selection for training, including apprenticeship. The City shall not be liable to a Proposer E. The Consultant and its sub- for any legal fees, court costs, or other consultants shall agree to post in legal expenses arising from the conspicuous places, available to interpretation or enforcement of the its employees and applicants for Agreement, or any other matter employment, notices to be generated by or relating to the provided by the contracting Agreement. officer setting forth the provisions 8.10 NO THIRD-PARTY BENEFICIARIES: of this nondiscrimination clause. F. The Consultant further agrees No provision of this RFP or that they will ensure that all sub- agreement/contract to follow with consultants, if any, will be made Consultant is intended to, or shall be aware of and will comply with this construed to, create any third-party nondiscrimination clause. beneficiary or to provide any rights to any G. The Consultant understands and person or entity not a party to the agrees that a material violation of agreement/contract, including but not this section shall be considered limited to any citizen or employees of the City and/or Proposer. RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 35 it City of Boynton Beach ~'O' 4' Procurement Services 8.11 DISCRIMINATORY VENDOR LIST An entity or affiliate who has been placed 8.15 ON PUBLIC ENTITY CRIMES on the discriminatory vendor list may not: All Request for Proposals as defined by obtain an agreement/contract to provide Section 287.012(11), Florida Statutes, goods or services to a public entity; requests for proposals as defined by construct or repair of a public building or Section 287.012(16), Florida Statutes, public work; lease real property to a and any contract document described by public entity; award or perform work as a vendor, supplier, or vendor under Section 287.058, Florida Statutes, shall agreement/contract with any public contain a statement informing persons of entity; nor transact business with any the provisions of paragraph (2)(a) of public entity. The Florida Department of Section 287.133, Florida Statutes, which Management Services is responsible for reads as follows: maintaining the discriminatory vendor list "A person or affiliate who has been and intends to post the list on its website. placed on the convicted vendor list Questions regarding the discriminatory following a conviction for public entity vendor list may be directed to the Florida crime may not submit a proposal on a Department of Management Services, Office of Supplier Diversity at (850) 487- contract or provide any goods or services 0915. to a public entity, may not submit a proposal on a contract with a public entity 8.12 NON-EXCLUSIVE for the construction or repair of a public building or public work, may not submit As may be applicable, the City reserves proposals on leases of real property to a the right to acquire some or all of these public entity, may not be awarded or goods and services through a State of perform work as a contractor, supplier, Florida contract pursuant to the City's subcontractor, vendor, or consultant Procurement Policy, provided the State under a contract with any public entity, of Florida contract offers a lower price for and may not transact business with any the same goods and services. This public entity in excess of the threshold reservation applies both to the initial amount provided in Section 287.017, for award of this solicitation and to CATEGORY TWO for a period of 36 acquisition after an agreement/contract months from the date of being placed on may be awarded. the convicted vendor list". Additionally, the City reserves the right to 8.16 PROHIBITED award other agreements for goods and TELECOMMUNICATIONS services falling within the scope of this EQUIPMENT solicitation and resultant Agreement when the specifications differ from this Proposer represents and certifies that solicitation or resultant Agreement, or for Proposer and all Sub-consultants do not goods and services specified in this use any equipment, system, or service solicitation when the scope substantially that uses covered telecommunications differs from this solicitation or resultant equipment or services as a substantial or Agreement. essential component of any system or as critical technology as part of any system, 8.13 BUSINESS INFORMATION as such terms are used in 48 CFR §§ If a proposing firm is a Joint Venture for 52.204-24 through 52.204-26. Proposer the goods/services described herein, the represents and certifies that Proposer Proposer shall, upon request of the City, and all Sub-consultants shall not provide provide a copy of the Joint Venture or use such covered telecommunications Agreement signed by all parties. equipment, system, or services during the Term. 8.14 FEDERAL AND STATE TAX: 8.17 PROHIBITION AGAINST CONSIDERING SOCIAL, POLITICAL, The City of Boynton Beach is exempt OR IDEOLOGICAL INTERESTS IN from Federal and state taxes. RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 36 Wuz City of Boynton Beach Procurement Services GOVERNMENT CONTRACTING taken against employees for violations of such prohibition. Proposers are hereby notified of the g Inform employees about the provisions of section 287.05701, Florida dangers of drug abuse in the Statutes, as amended, that the City will workplace, the Proposer's policy not request documentation of or consider of maintaining a drug-free a Proposer's social, political, or workplace, any available drug ideological interests when determining if counseling, rehabilitation, and the Proposer is a responsible Consultant. employee assistance programs, Proposers are further notified that the and the penalties that may be City's governing body may not give imposed upon employees for preference to a Proposer based on the drug abuse violations. Proposer's social, political, or ideological C. Give each employee engaged in interests. providing the services that are under contract a copy of the 8.18 RIGHTS IN DATA statement specified in Item A above. Except if otherwise agreed to in writing, D. In the statement specified in Item the City shall have exclusive ownership A above, notify the employees of, all proprietary interest in, and the right that, as a condition of providing to full and exclusive possession of all the services that are under information, materials, and documents contract, the employee will abide discovered or produced by Proposer by the terms of the statement pursuant to the terms of this solicitation, and will notify the Proposer of including but not limited to reports, any conviction of, or plea of guilty memoranda or letters concerning the or nolo contendere to, any research and reporting tasks required. violation of Chapter 893, Florida Statutes, or of any controlled 8.19 DOCUMENTATION OF COSTS substance law of the United States or any state, for a All costs submitted shall be supported by violation occurring in the properly executed payrolls,time records, workplace no later than five (5) invoices, vouchers, or other official calendar days after such documentation evidencing in proper conviction or plea. detail the nature and propriety of the E. Impose a sanction on or require charges. All checks, payrolls, invoices, satisfactory participation in a contracts, vouchers, orders, or other drug abuse assistance or accounting documents pertaining in rehabilitation program, if such is whole or in part to the resulting available in the employee's contract/agreement shall be clearly community, for any employee pleo is so convicted or so identified and regularly accessible and pleads. provided to the City upon request. F. Make a good faith effort to 8.20 DRUG-FREE WORKPLACE continue to maintain a drug-free workplace through the The Consultant shall implement and implementation of Section maintain a drug-free workplace program 287.087, Florida Statutes of at least the following items: A Publish a statement notifying 8.21 ENDORSEMENTS employees that the unlawful No endorsements by the City of the manufacture, distribution, goods and/or services will be used by dispensing, possession, or use the Proposer in any way, manner, or of a controlled substance is form. prohibited in the workplace and specifying the actions that will be RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 37 •�R ° City of Boynton Beach ""'° . Procurement Services SECTION IX — SPECIAL PROVISIONS/SPECIAL CONDITIONS RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) 9.1 ENUMERATION OF PRECEDENCE OF CONTRACT DOCUMENTS If any portion of the Contract Documents appears to conflict with any other portion, the various documents comprising the Contract Documents shall govern in the following order of precedence: The Fully Executed Agreement The Scope of Work (Services) The Special Provisions/ Specials Conditions The Instructions to Proposers Standard General Terms and Conditions Proposer's Proposal 9.2 COMMUNICATION RESTRICTIONS AND PROCUREMENT INTEGRITY To preserve the integrity, fairness, and transparency of the procurement and evaluation process, the Consultant shall adhere to strict communication protocols regarding Public- Private Partnership (P3) submissions. The Consultant shall not communicate directly or indirectly with any proposer, developer, investor, contractor, lender, or other private entity associated with a P3 submission, unless such communication is expressly authorized in writing by the City's designated Project Manager or Procurement Division. All communications related to proposals, financial information, project structure, or evaluation matters shall be conducted solely through the City's authorized representatives to ensure compliance with applicable procurement procedures and to maintain an equitable and impartial evaluation process. The Consultant shall also comply with the following requirements: • The Consultant shall avoid any ex-parte communications with proposers or their representatives regarding any P3 project under evaluation. • The Consultant shall immediately disclose to the City any attempted contact or communication from proposers or their representatives related to the solicitation or evaluation process. • The Consultant shall not provide advice, financial guidance, or strategic information to any private entity regarding a P3 submission to the City during the term of the engagement. • The Consultant shall ensure that all employees, subcontractors, and affiliated advisors engaged in this project adhere to the same communication restrictions. • Any violation of these requirements may be considered a material breach of contract and may result in termination of the engagement and other remedies available to the City. Nothing in this section shall prevent the Consultant from participating in meetings, workshops, interviews, or discussions with proposers when such participation is coordinated and authorized by the City as part of the formal evaluation or negotiation process. 9.3 CHANGES TO SCOPE AND ADDITIONAL SERVICES A. Either party may request modifications to the Scope of Work outlined in Section IV, including increases, decreases, or other adjustments to the services to be RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 38 ��R 1� City of Boynton Beach '�� Procurement Services provided under this Agreement. All such modifications must comply with the City's Code of Ordinances and be memorialized in a written amendment executed by both parties with the same formality, equality, and dignity as this Agreement. No deviation from the terms of this Agreement — including the initiation of any additional or extra work — shall be authorized or commence prior to such execution. B. The Consultant shall continue performing all authorized services during the pendency of any change order request. Any services rendered beyond the authorized scope of this Agreement — without prior authorization by written amendment or approved change order—are performed solely at the Consultant's risk. In no event shall the Consultant be compensated for any services not described herein or authorized by a separate written amendment or change order. C. The City reserves the right to acquire additional hours or quantities of the services requested in this solicitation at the unit prices proposed herein. If a proposer is unable or unwilling to extend pricing beyond the specified quantities, the price proposal sheet must be clearly noted: "PROPOSAL IS FOR SPECIFIED QUANTITY ONLY." 9.4 PERFORMANCE DURING EMERGENCY The Consultant agrees and promises that immediately preceding, during, and after a public emergency, disaster, hurricane, flood, or act of God, the City shall be given "first priority" for all goods and/or services under the Agreement. The Consultant agrees to provide all goods and/or services to City immediately preceding, during, and after a public emergency, disaster, hurricane, flood, or act of God, at the terms, conditions, and prices as provided in this solicitation on a "first priority" basis. The Consultant shall furnish a 24-hour phone number to the City. Failure to provide the goods and/or services to the City on a first priority basis immediately preceding, during, and after a public emergency, disaster, hurricane, flood, or act of God, shall constitute a breach of Agreement and subject the Consultant to sanctions from doing further business with the City. RFP No 26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services Consultant 39 r ep m T o � City of Boynton Beach Procurement Services SECTION X — PRICE PROPOSAL FORM RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) * PRICE PROPOSAL WILL BE INPUT INTO THE E-PROCUREMENT SYSTEM — BIDS & TENDERS* Table 1 — Personnel Rate Card (To be used for time-and-materials work or additional services) Personnel Classification Name (if)Hourly Rate Years of� known) II($) Experience Lead Financial Advisor/ Principal Senior Advisor/ Director Financial Model Specialist Infrastructure / P3 Specialist Senior Analyst Financial Analyst Legal / Compliance Advisor (i1 applicable) Administrative Support Note: Rates shall remain fixed for the initial contract term unless otherwise negotiated. Table 2 — Phase-Based Pricing (Typical P3 Advisory Phases) Project Phase'Description I Proposed Fee ($)I Phase 1 IProject Initiation and Financial Feasibility Analysis Phase 2 IFinancial Modeling and Market Sounding Phase 3 IProcurement Support and RFP Development Phase 4 IProposal Evaluation and Financial Analysis Phase 5 INegotiations and Financial Close Support Total Phase-Based Cost: $ Table 3 — Scenario Pricing (For Major Project Changes) This table helps the City understand cost impacts if the project scope chan les. Scenario IIDescription IIEstimated Cost ($)l Scenario AIIAlternative delivery structure analysis II Scenario BilAdditional financial feasibility study �I I Scenario CIIAdditional negotiation support with proposerll Scenario Additional financial model revisions II I RFP No.26-053R-STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 40 r oe e = O V City of Boynton Beach "r ra 0- Procurement Services Table 4 — Subconsultant Costs (if applicable) Subconsultant Firm Services Provided Estimated Cost ($) Total Subconsultant Cost: $ Table 5 — Reimbursable Expenses Expense Category Estimated Cost ($) Travel (if approved by the City) Data acquisition / market data Printing / document production Other (specify) Total Reimbursable Expenses: $ Table 6 — Optional Services (Hourly or Task-Based) Optional Service Pricing Method Rate / Cost ($) Additional Financial Analysis Hourly Additional Procurement Support Hourly Additional Negotiation Support Hourly Additional Stakeholder Presentations Per Meeting RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 41 V�A `P V City of Boynton Beach Procurement Services APPENDIX'A' SECTION XI — SAMPLE TERM AGREEMENT — PROFESSIONAL SERVICES CONSULTANT STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) RFP No. 26-053R Y OA% o V TON RFP No.26-053R—STRATEGIC P3 FINANCIAL ADVISORY SERVICES Consultant 42 4#01 e = City of Boynton Beach "'�N Procurement Services STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) RFP No. 26-053R AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND , FOR CONTINUING CONSULTING/PROFESSIONAL SERVICES This Agreement is made as of this_day of 20 , by and between a , with a principal address of , hereinafter referred to as "Consultant," and the City of Boynton Beach, a municipal corporation organized and existing under the laws of Florida,with a business address of 100 East Ocean Avenue, Boynton Beach,Florida 33435,hereinafter referred to as "City." In consideration of the mutual benefits,terms, and conditions hereinafter specified,the Parties agree as set forth below. WHEREAS,the City issued Solicitation No. (the"Solicitation")pursuant to state and local law to solicit proposals for (the "Services");and WHEREAS, Consultant responded to the Solicitation by submitting its Proposal dated (the "Proposal"),and WHEREAS, following evaluation of all proposals received, the City Commission determined that Consultant is the best qualified to provide the Services;and WHEREAS, on . 202_, the City Commission awarded Solicitation No. to Consultant by Resolution No. ;and WHEREAS, the City desires to engage Consultant to provide such Services to the City on an as-needed basis according to the terms and subject to the conditions set forth in this Agreement. NOW THEREFORE,for and in consideration of the mutual covenants and promises as hereinafter set forth and of the faithful performance of such covenants and conditions,the City and Consultant do hereby agree as follows: 1. SERVICES AND METHOD OF ORDERING SERVICES. a. Services. Consultant shall provide the type of services described in the Scope of Services attached hereto as Exhibit A (which services are hereinafter referred to as the "Services"). Consultant may be requested to provide specific Services for various tasks or projects. The Consultant shall render the Services in a diligent, careful, thorough, and professional manner, consistent with sound business practices,and shall at all times provide the City with the most sound and reasonable recommendations and advice. The standard of care for all Services performed or furnished by the Consultant under this Agreement will be the care and skill ordinarily used by members of the Consultant's profession practicing under similar circumstances or at the same time and in the same locality. Consultant acknowledges that this is an as-needed agreement, and that award of this Agreement to Consultant does not guarantee work will be requested by City, and City's election not to issue Task Order(s) shall not be deemed a breach of this Agreement,nor shall Consultant be entitled to any claim for lost profits, lost opportunities,or other damages based on the City's decision to obtain similar or identical services from others or not to issue Task Orders. Continuing Consulting Services Template 12.8.25(SRW) 43 City of Boynton Beach Procurement Services b. Method of Orderine Services. Services will be rendered in response to periodic written Task Orders (each a "Task Order")issued by the City on an as-needed basis. For each task or assignment,the City shall request the Consultant to develop for review by the City: a. A scope of services; b. An estimate of fees and costs based on the hourly rates established in this Agreement with sufficient detail to identify the various elements of costs, which amount shall constitute a guaranteed maximum and shall not be exceeded without the prior written approval of City; c. A task/deliverable schedule;and d. A payment schedule based on deliverables,which may not be front-loaded. The Consultant and City shall execute a written Task Order upon mutual agreement of the scope of services, fees and costs,task/deliverable schedule,and payment schedule.City shall not be liable to pay for any Services provided without a properly executed Task Order. Upon complete execution of a Task Order and issuance of a Purchase Order, Consultant shall provide all Services described in the Task Order, including all necessary,incidental,and related activities required for the full and complete performance of such Services.The form of the Task Order is attached hereto as Exhibit B.Any Task Order exceeding the then-current procurement policy threshold shall require approval from the City Commission. c. Use of Subconsultants. Consultant shall utilize only the subconsultants identified in a Task Order to provide the Services.Consultant shall obtain written approval of the City before changing or modifying any subconsultants,which shall be automatically updated upon such written approval.Consultant shall bind in writing every approved subconsultant to the terms stated in this Agreement and the applicable Task Order, provided that this provision shall not, in and of itself, impose the insurance requirements set forth in Article 23 on Consultant's subconsultants. d. Correction of Deficiencies: Non-Compensable Rework. Consultant shall, without additional compensation, promptly correct any errors,omissions, deficiencies, or negligent acts in the Services, including any Deliverables, documents, or work product.Consultant shall be responsible for all costs associated with corrections, redesign, revisions, or other remedial services required due to Consultant's or its subconsultants'failure to comply with the professional standard of care outlined in this Agreement. Failure to correct deficiencies within a reasonable time, as determined by the City, shall constitute a material breach of this Agreement. 2. TERM. This Agreement shall be for an initial term of ( )years,commencing on ,20 , and shall remain in effect through ,20 ("Initial Term"), unless otherwise terminated or extended as provided in this Agreement. The City reserves the right to renew the Agreement for one (1) additional two-year term ("Extension Term") on the same terms and conditions stated in this Agreement, subject to Consultant's satisfactory performance as determined by the City,and determination by the City that renewal will be in the best interest of the City. The Initial Term and any Extension Term(s) are collectively referred to as the "Term." The Mayor is authorized to execute the term extension amendment(s). If Consultant requests a rate change at the time of renewal,such change shall not become effective until a written amendment is approved by the City Commission and duly executed by the Parties. 3. TIME FOR PERFORMANCE. A. COMMENCEMENT of Work. Services under the Agreement and any applicable Task Order shall commence upon the City giving written notice to the Consultant to proceed,along with a purchase order.Consultant shall perform Continuing Consulting Services Template 12.8.25(SRW) 44 m (- � , � City of Boynton Beach Procurement Services all Services and provide all deliverables required pursuant to this Agreement and each Task Order. Time is of the essence for the Consultant's performance of the duties, obligations, and responsibilities required by this Agreement. B. DELAYS: UNTIMELY PERFORMANCE. a Delays: No Fault of Consultant. If Consultant is unable to timely complete all or any portion of the Services because of delays resulting from untimely review by the City or other governmental agencies having jurisdiction over the project and such delays are not the fault of Consultant, or because of delays caused by factors outside the control of Consultant, the City shall grant a reasonable extension of time for completion of the Services. It shall be the responsibility of the Consultant to notify the City in writing whenever a delay in approval by a governmental agency is anticipated or experienced and whenever a delay has been caused by factors outside of the Consultant's control and to inform the City of all facts and details related to the delay. Consultant must provide such written notice to the City within three(3) business days after the occurrence of the event causing the delay. b Delays Due to Consultant. If Consultant fails to substantially complete the Services in whole or in part on or before the date established in each Task Order, Consultant shall pay City its proportional share of any claim for damages arising from the delay. This section shall not affect either Party's indemnification rights or obligations otherwise outlined in this Agreement. C. IF TASK ORDER CONTINUES BEYOND TERM. Consultant shall complete each executed Task Order without regard to whether such completion would cause Services to be performed after the expiration date of this Agreement.Any Task Order for which performance extends beyond the Term may be amended after that expiration date, provided that any additional Services, time, and compensation are permitted under this Agreement. The terms and conditions of this Agreement shall continue to govern Task Orders notwithstanding the expiration of this Agreement. 4. AMOUNT AND METHOD OF COMPENSATION. a. Compensation. As compensation for Services rendered by Consultant to the City pursuant to a duly executed Task Order, the City shall pay the Consultant an annual amount not to exceed ($ ) ("Fee") calculated based on the anniversary date of complete execution of the Agreement. The Fee is based on the Hourly Rates outlined in the Fee Schedule attached hereto as Exhibit C and incorporated into this Agreement by reference.The Fee shall be the sole compensation paid to Consultant in connection with the rendition of the Services and the performance of any and all of its other obligations under this Agreement and shall include any out- of-pocket or other expenses, including travel expenses, incurred by Consultant. b. Subconsultant Fees. If subconsulting is permitted, the Consultant shall bill the City for subconsultant fees with no markup and within any applicable maximum not-to-exceed amount. 5. NOTICES. All Notices to the City shall be in writing by certified mail return receipt requested, or customarily used overnight transmission with proof of delivery, sent to: Continuing Consulting Services Template 12.8.25(SRW) 45 Y pR pWU City of Boynton Beach Procurement Services City: Daniel Dugger,City Manager City of Boynton Beach P.O. Box 310 Boynton Beach, Florida 33425 Telephone: (561)742-6010/Facsimile:(561) 742-6090 Copy: Shawna G. Lamb, City Attorney City of Boynton Beach P.O. Box 310 Boynton Beach, Florida 33425 Telephone: (561)742-6010/Facsimile:(561) 742-6090 Consultant: Telephone: Email: 6. INVOICES AND PAYMENT. Invoices must identify the PO number and Task Order project description, and should be emailed to: AP( bbfl.us Invoice Requirements and Supporting Documentation. Invoices shall show the nature of the service and the dates of service. Invoices based on hourly rates shall show the actual hours worked, the person performing services,the nature of the service,the hourly rate,and the dates of service.All invoices shall be accompanied by detailed supporting documentation, including labor categories, subconsultant invoices, receipts for reimbursable expenses(if allowed),and other records reasonably required by the City. Invoices may be submitted after such services are performed;however,all services rendered before September 30th of any given year must be invoiced by September 30th of that year. Consultant shall provide a W-9 with the first invoice. Disallowed Costs, Withholding Payment. Consultant shall not invoice the City for (i) costs incurred to correct errors, omissions, or deficiencies; (ii) costs resulting from unauthorized work; (iii) internal administrative costs not directly attributable to performance of the Services. The City may withhold payment of any invoice lacking sufficient backup documentation until such documentation is provided. Additionally,the City may withhold payment, in whole or in part,for unsatisfactory performance,failure to meet schedule requirements,failure to correct deficiencies, or reasonable concerns regarding compliance with the Agreement. Payment. Payment shall be made only for services actually performed and completed under a duly executed Task Order and this Agreement. The Fee shall be paid based on receipt of a proper invoice in accordance with the invoice schedule indicated above. Payment will be made within 45 days of receipt of a proper invoice in accordance with the Local Government Prompt Payment Act,Section 218.70,et al.,Florida Statutes. No payment made under this Agreement shall be conclusive evidence of the performance of this Agreement by Consultant,either wholly or in part, and no payment shall be construed to be an acceptance of or to relieve Consultant of liability for the defective,faulty,or incomplete rendition of the Services. Continuing Consulting Services Template 12.8.25(SRW) 46 m City of Boynton Beach "'mom 047 Procurement Services 7. TAX EXEMPT. Prices applicable to the City do not include applicable state and local sales, use,and related taxes.The City is exempt from state and local sales and use taxes and shall not be invoiced for the same. The City will provide the Consultant with proof of tax-exempt status upon request. 8. SOVEREIGN IMMUNITY. Nothing contained in this Agreement nor contained herein shall be considered nor construed to waive the City's rights and immunities under the common law or section 768.28,Florida Statutes,as may be amended. 9. ATTORNEY'S FEES. If either Party brings suit to enforce the Agreement,each Party shall bear its own attorney's fees and court costs.This does not apply to Consultant's indemnification obligations. 10. PUBLIC RECORDS. The City is a public agency subject to Chapter 119, Florida Statutes. The Consultant shall comply with Florida's Public Records Law.Specifically,the Consultant shall: Keep and maintain public records required by the City to perform the service when utilizing non-City-owned equipment; a. Upon request from the City's custodian of public records, provide the City with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in Chapter 119, Fla. Stat., or as otherwise provided by law; b. Ensure that public records that are exempt or that are confidential and exempt from public record disclosure requirements are not disclosed except as authorized by law for the duration of the contract Term and, following completion of the contract, Consultant shall destroy all copies of such confidential and exempt records remaining in its possession once the Consultant transfers the records in its possession to the City; and c. Upon completion of the contract, Consultant shall transfer to the City, at no cost to the City, all public records in Consultant's possession. All records stored electronically by Consultant must be provided to the City,upon request from the City's custodian of public records, in a format compatible with the City's information technology systems. IF THE CONSULTANT HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE CONSULTANT'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS: CITY CLERK'S OFFICE 100 E. OCEAN AVENUE BOYNTON BEACH, FLORIDA, 33435 561-742-6060 CitvClerk@bbfl.us 11. DISCRIMINATORY VENDOR AND SCRUTINIZED COMPANIES LISTS; COUNTRIES OF CONCERN. Consultant represents that it has not been placed on the"discriminatory vendor list"as provided in Section 287.134, Florida Statutes, and that it is not a "scrutinized company" pursuant to Sections 215.473 or 215.4725, Florida Statutes. Consultant represents and certifies that it is not, and for the duration of the Term, will not be, ineligible to contract with City on any of the grounds stated in Section 287.135, Florida Continuing Consulting Services Template 12.8.25(SRW) 47 City of Boynton Beach Procurement Services Statutes.Consultant represents that it is,and will remain for the duration of the Term, in compliance with Section 286.101, Florida Statutes. 12. E-VERIFY. Consultant shall comply with Section 448.095,Fla.Stat.,"Employment Eligibility,"including registering and using the E-Verify system to verify the work authorization status of employees. Failure to comply with Section 448.095,Fla.Stat.,shall result in termination of this Agreement.Any challenge to termination under this provision must be filed in the Circuit Court no later than 20 calendar days after the termination date. If this Agreement is terminated for the Consultant's violation of the statute, the Consultant may not be awarded a public contract for one(1)year after the termination date. 13. ENTITIES OF FOREIGN CONCERN. The provisions of this section apply only if Consultant or any subconsultant will have access to an individual's personal identifying information under this Agreement.Consultant represents and certifies: (i)Consultant is not owned by the government of a foreign country of concern; (ii)the government of a foreign country of concern does not have a controlling interest in Consultant;and(iii)Consultant is not organized under the laws of and does not have its principal place of business in,a foreign country of concern.On or before the effective date of this Agreement, Consultant and any subconsultant that will have access to personal identifying information shall submit to City executed affidavit(s) under penalty of perjury, in a form approved by City,attesting that the entity does not meet any of the criteria in Section 287.138(2), Florida Statutes. Compliance with the requirements of this section is included in the requirements for a proper invoice,as outlined in Section 6.Terms used in this section that are not otherwise defined in this Agreement shall have the meanings ascribed to such terms in Section 287.138,Florida Statutes. 14. ANTI-HUMAN TRAFFICKING. On or before the effective date of this Agreement, Consultant shall provide City with an affidavit attesting that the Consultant does not use coercion for labor or services, in accordance with Section 787.06(13), Florida Statutes. 15. PUBLIC ENTITY CRIME ACT. Consultant represents that it is familiar with the requirements and prohibitions under the Public Entity Crime Act, Section 287.133, Florida Statutes, and represents that its entry into this Agreement will not violate that Act. Consultant further represents that there has been no determination that it committed a "public entity crime" as defined by Section 287.133, Florida Statutes, and that it has not been formally charged with committing an act defined as a "public entity crime" regardless of the amount of money involved or whether Consultant has been placed on the convicted vendor list. 16. CONTINGENCY FEE. Consultant represents and warrants that it has not employed or retained any person or entity,other than a bona fide employee working solely for Consultant,to solicit or secure this Agreement and that it has not paid or agreed to pay any person or entity, other than a bona fide employee working solely for Consultant, any fee,commission,percentage,gift,or other consideration contingent upon or resulting from the award or making of this Agreement. 17. TRUTH-IN-NEGOTIATION REPRESENTATION. Consultant's compensation under this Agreement is based upon its representations to City. Consultant certifies that the wage rates,factual unit costs,and other information supplied to substantiate Consultant's compensation,including,without limitation, in the negotiation of this Agreement,are accurate,complete, and current as of the date Consultant executes this Agreement.Consultant's compensation may be reduced Continuing Consulting Services Template 12.8.25(SRW) 48 v°e ,�` City of Boynton Beach '`'ona Procurement Services by City, in its sole discretion,to correct any inaccurate, incomplete, or noncurrent information provided to City as the basis for Consultant's compensation in this Agreement. 18. DULY LICENSED. Consultant represents that it is duly licensed to perform the Services under this Agreement and will continue to maintain all licenses and approvals required to conduct its business. 19. FORCE MAJEURE. If the performance of this Agreement, or any obligation hereunder, is prevented by reason of hurricane, earthquake,or other casualty caused by nature,epidemic, pandemic,or other public health emergency,or by labor strike, war, or by a law, order, proclamation, regulation, ordinance of any governmental agency (collectively, "Force Majeure Event"),the Party so affected, upon giving prompt notice to the other Party, shall be excused from such performance to the extent of such prevention, provided that the affected Party shall first have taken reasonable steps to avoid and remove such cause of non-performance and shall continue to take reasonable steps to prevent and remove such cause, and shall promptly notify the other Party in writing and resume performance hereunder whenever such causes are removed; provided, however, that if such inability to perform due to the Force Majeure Event exceeds sixty (60) consecutive days, the Party that was not prevented from performance by the Force Majeure Event has the right to terminate this Agreement upon written notice to the other Party. This section shall not supersede or preclude the exercise of any right either Party may otherwise have to terminate this Agreement. 20. VENUE, JURISDICTION, WAIVER OF JURY TRIAL. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida.Any legal action, suit, or proceeding arising out of or relating to this agreement shall be instituted in the appropriate state court in Palm Beach County, Florida,and each Party irrevocably submits to the exclusive jurisdiction of such court in any such action,suit,or proceeding.Any disputes that arise between the parties regarding the performance of this agreement and cannot be resolved through negotiations shall be submitted to a court of competent jurisdiction exclusively in Palm Beach County, Florida. This Agreement shall be construed under Florida Law. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION OR LEGAL PROCEEDING RELATED TO THIS AGREEMENT OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS(WHETHER VERBAL OR WRITTEN), OR ACTIONS OF EITHER PARTY.THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AGREEMENT. 21. SUSPENSION AND TERMINATION. A. TERMINATION. 1. Termination for Convenience. The City may terminate this Agreement for convenience upon fourteen (14) calendar days of written notice. In this event, the Consultant shall be compensated for services performed through the termination date, including services reasonably related to termination. 2. Termination for Cause. In addition to all other remedies available to the aggrieved Party,this Agreement shall be subject to cancellation by either Party for cause, should the other Party neglect or fail to perform or observe any of the terms, provisions, conditions, or requirements herein contained, if such neglect or failure shall continue for thirty (30) calendar days after receipt by the defaulting Party of written notice of such neglect or failure. 3. TERMINATION TO PROTECT HEALTH, SAFETY, OR WELFARE Continuing Consulting Services Template 12.8.25(SRW) 49 City of Boynton Beach Procurement Services The City Manager may also terminate this Agreement upon such notice as the City Manager deems appropriate under the circumstances in the event the City Manager determines that termination is necessary to protect the public health,safety,or welfare. REMEDIES No remedy herein conferred upon any party is intended to be exclusive of any other remedy, and each such remedy shall be cumulative and shall be in addition to every other remedy given hereunder now or hereafter existing at law, or in equity, by statute or otherwise. No single or partial exercise by any party of any right, power, or remedy hereunder shall preclude any other or further exercise thereof. B. FUNDING OUT This result of this Agreement shall remain in full force and effect only if the expenditures provided for in the Agreement have been appropriated by the City Commission of the City of Boynton Beach in the annual budget for each fiscal year of this Agreement and is subject to termination based on lack of funding. C. NOTICE OF TERMINATION Notice of termination shall be provided in accordance with the "Notices" section of this Agreement, except that notice of termination by the City Manager,which the City Manager deems necessary to protect the public health, safety, or welfare may be verbal notice that shall be promptly confirmed in writing in accordance with the "Notices" section of this Agreement. In the event of termination,the City shall compensate the Consultant for all authorized work satisfactorily performed through the termination date under the payment terms contained in this Agreement. Consultant shall immediately deliver all documents, written information, electronic data, and other materials concerning City projects in its possession to the City and shall cooperate in transitioning its consulting duties to appropriate parties at the direction of the City. Upon termination,this Agreement shall have no further force or effect,and the Parties shall be relieved of all further liability hereunder, except that the provisions of this section and the provisions regarding property rights, insurance, indemnification, governing law, litigation, confidential information and generative artificial intelligence, data security, audit and records, rights in documents and work, limitation of liability, and any other provisions that by their nature are intended to survive,shall survive termination of this Agreement and remain in full force and effect. D. SUSPENSION OF WORK. Suspension for Convenience. The City may, at any time and for any reason, suspend all or any portion of the Services by providing written notice to Consultant. Upon such notice, Consultant shall immediately discontinue performance,take reasonable steps to minimize costs,and protect all work product. Compensation Upon Suspension. Consultant shall be compensated for Services satisfactorily performed through the effective date of suspension. No compensation shall be paid for Services performed after suspension unless expressly authorized in writing by the City. Resumption.If the City directs Consultant to resume work,Consultant shall promptly recommence performance.Consultant shall not be entitled to an adjustment in compensation or schedule due to the suspension unless expressly authorized in a written amendment. Continuing Consulting Services Template 12.8.25(SRW) 50 s = o � City of Boynton Beach Procurement Services 22. INDEMNIFICATION. Consultant shall indemnify and hold harmless the City and its elected and appointed officers,agents,assigns and employees, consultants, separate Consultants, any of their subconsultants, or sub-subconsultants (collectively, "Indemnified Party"),from and against claims, demands,or causes of action whatsoever,and the resulting losses, damages, costs, and expenses, including but not limited to attorneys' fees, including paralegal expenses, liabilities,damages,orders,judgments, or decrees,sustained by the Indemnified Party arising out of or resulting from(A)Consultant's performance or breach of Agreement,(B)acts or omissions, negligence, recklessness, or intentional wrongful conduct by Consultant's, its agents, employees, subcontractors, subconsultants, participants, and volunteers, and (C) Consultant's failure to take out and maintain insurance as required under this Agreement. Consultant shall pay all claims and losses in connection therewith and shall investigate and defend all claims, suits, or actions of any kind or nature against an Indemnified Party, where applicable, including appellate proceedings, and shall pay all costs, judgments, and attorneys' fees which may issue thereon. The obligations of this section shall survive indefinitely regardless of termination of the Agreement. If, in the opinion of the City and the City Attorney, it is necessary, the City may retain any sums due the Consultant under this Agreement until all claims subject to this indemnification obligation have been settled or otherwise resolved. Any amount withheld shall not be subject to payment of interest by the City. 23. INSURANCE. At the time of execution of this Agreement,the Consultant shall provide the City with a copy of Consultant's insurance certificate evidencing the required coverage set forth in Exhibit D. Consultant shall maintain insurance in the amounts as required in Exhibit D during the entire Term of the Agreement.The Certificate of Insurance shall name the City of Boynton Beach and its officers, employees, and agents as additional insured. 24. LIMITATION OF LIABILITY. Notwithstanding any provision of the Agreement to which it is applicable, City shall not be liable or responsible to Consultant beyond the amount remaining due to Consultant under the Agreement, regardless of whether said liability be based in tort,contract, indemnity,or otherwise;and in no event shall City be liable to Consultant for punitive or exemplary damages or lost profits or consequential damages. 25. INDEPENDENT CONTRACTOR. The Agreement does not create an employee/employer relationship between the Parties. The Parties intend that Consultant is an independent contractor under this Agreement and shall not be considered the City's employee for any purpose. Consultant shall not have the right to bind City to any obligation not expressly undertaken by City under this Agreement 26. COMPLIANCE WITH LAWS. Consultant hereby warrants and agrees that at all times material to the Agreement,Consultant shall comply with all applicable federal, state, and local laws, rules, and regulations, including section 501.171, Florida Statutes. Non-compliance may constitute a material breach of the Agreement. 27. BREACH OF REPRESENTATIONS. Consultant acknowledges that City is materially relying on the representations, warranties, and certifications of Consultant stated in its Proposal and this Agreement, and City shall be entitled to exercise any or all of the following remedies if any such representation, warranty, or certification is untrue: (a) recovery of damages incurred;(b)termination of this Agreement without any further liability to Consultant; (c)set off from any amounts due Consultant the total amount of any damage incurred; and (d)debarment of Consultant. Continuing Consulting Services Template 12.8.25(SRW) 51 City of Boynton Beach Procurement Services 28. ASSIGNMENT. If this Agreement and any interests granted herein shall be assigned,transferred,or otherwise encumbered under any circumstances by Consultant, Consultant must gain prior written consent from City thirty (30) business days before such transfer. If Consultant assigns or transfers this Agreement without the City's written consent,the Agreement shall,at the City's option,become null and void. 29. NO LIEN. The Consultant shall not at any time permit any lien,attachment,or any other encumbrance under the laws of the State of Florida,or otherwise,by any person or persons whomsoever to be filed or recorded against the City,against any City property,or money due or to become due for any work done or materials furnished under this Agreement by Consultant. 30. AGREEMENT SUBJECT TO FUNDING. The Agreement shall remain in full force and effect only as long as the expenditures provided for in the Agreement have been appropriated by the City Commission of the City of Boynton Beach in the annual budget for each fiscal year of this Agreement,and is subject to termination based on lack of funding. 31. NON-EXCLUSIVE. This Agreement is non-exclusive.City may retain additional entities to perform the same or similar work. 32. REPRESENTATION OF AUTHORITY. Consultant represents and warrants that this Agreement constitutes the legal, valid, binding, and enforceable obligation of Consultant and that neither the execution nor performance of this Agreement constitutes a breach of any agreement that Consultant has with any third party or violates applicable law. Consultant further represents and warrants that execution of this Agreement is within Consultant's legal powers, and each individual executing this Agreement on behalf of Consultant is duly authorized by all necessary and appropriate action to do so on behalf of Consultant and does so with full legal authority. 33. CONFIDENTIAL INFORMATION; GENERATIVE ARTIFICIAL INTELLIGENCE; AND DATA SECURITY. A. CONFIDENTIAL INFORMATION AND GENERATIVE ARTIFICIAL INTELLIGENCE. Unless expressly authorized in this Agreement,in a Task Order,or in writing in advance by the City, Consultant is strictly prohibited from disclosing,uploading,or otherwise making available to third parties,directly,or indirectly,including but not limited to through utilization of generative artificial intelligence tools, any exempt, confidential, sensitive security, or personal information of City. Consultant must ensure that any use of generative artificial intelligence tools by Consultant or its subconsultants does not involve the disclosure of exempt, confidential, sensitive security, or personal information,including,without limitation,for large language model learning or training. Consultant must implement and maintain appropriate technological and operational safeguards to ensure compliance with the obligations of this section. B. DATA SECURITY: CYBERSECURITY REQUIREMENTS. Consultant shall implement and maintain administrative, technical, and physical safeguards that comply with industry best practices and all applicable laws to protect City data from unauthorized access,disclosure,alteration,and destruction.Consultant shall notify the City in writing within 24 hours of discovering any actual or suspected security incident, breach, or unauthorized access involving City data. Consultant shall cooperate fully with the City in investigating, mitigating, and remediating the incident at Consultant's sole cost.Consultant shall ensure that all subconsultants comply with the requirements of this section. Continuing Consulting Services Template 12.8.25(SRW) 52 Y�! s z O � City of Boynton Beach "'�� Procurement Services 34. RIGHTS IN DOCUMENTS AND WORK. A. OWNERSHIP. Any and all videos,photographs,documents, materials,data, or other work created by Consultant in connection with performing services,whether finished or unfinished ("Documents and Work"), shall be owned by City,and Consultant hereby transfers to City all right,title,and interest,including any copyright or other intellectual property rights, in or to the Documents and Work. B. INTELLECTUAL PROPERTY WARRANTY: INFRINGEMENT INDEMNITY. 1. IP Warranty. Consultant represents and warrants that all Documents and Work provided under this Agreement are (i) original to Consultant, or (H) properly licensed for use and reuse by the City.Consultant shall provide copies of all applicable licenses to the City upon request. 2. Infringement Indemnity.Consultant shall indemnify, defend, and hold harmless the City from and against any and all claims, damages, losses, liabilities, and expenses, including attorneys'fees,arising out of any actual or alleged infringement of any patent,copyright, trademark, trade secret, or other proprietary right related to the Documents and Work provided by Consultant or its subconsultants. 3. Correction of Infringing Work. If any portion of the Documents and Work is held to infringe, Consultant shall,at its sole expense and without delay:(i)secure for the City the right to continue using the Documents and Work; (H) replace the Documents and Work with non-infringing equivalents acceptable to the City; or(Hi) modify the Documents and Work to make them non-infringing while retaining equivalent functionality. a. Deliverables Upon Conclusion of Task Order.Consultant shall deliver to the City for approval and acceptance, and before being eligible for final payment of any amounts due under any Task Order, all documents and materials prepared for the City in connection with the Task Order.All such documents and records shall be provided within a reasonable time at no additional cost.Such documents may be provided electronically. b. Delivery Upon Expiration or Termination of Agreement. Upon expiration or termination of this Agreement, the Documents and Work shall become the property of City and shall be delivered by Consultant to City within seven(7)days after expiration or termination. Any compensation due to Consultant may be withheld until all Documents and Work are received as provided in this Agreement. Consultant shall ensure that the requirements of this section are included in all agreements with all subconsultant(s). c. Reuse of Proiect Documents.City may, at its option, reuse (in whole or in part) the resulting end-product or deliverables resulting from Consultant's Services (including, but not limited to, drawings, specifications, other documents, and services as described herein and in the applicable Scope of Services for any Task Order); and Consultant agrees to such reuse in accordance with this provision. d. Prohibition on Sale or Commercialization of City Information. Consultant shall not sell,lease,license,distribute,commercialize,or otherwise monetize any City data, information, documents, or materials obtained or created in connection with this Agreement, including but not limited to confidential information, proprietary data, records, databases, or any other information belonging to or relating to the City, its operations,or its constituents,and shall not use any City information for any commercial purpose unrelated to the performance of Services under this Agreement. This prohibition shall survive the expiration or termination of this Agreement, and Consultant shall include substantially similar Continuing Consulting Services Template 12.8.25(SRW) 53 s z p U City of Boynton Beach "'po p"C Procurement Services restrictions in all agreements with subconsultants who may have access to City information. 35. CONSULTANT'S STAFF. Consultant will provide the key staff identified in its Proposal as long as they are in Consultant's employment.Consultant acknowledges that the City selected Consultant based in part on the qualifications and experience of the key personnel identified in Consultant's Proposal. Consultant shall not remove, reassign,or replace any key personnel without the City's prior written approval.The City may deny approval if the proposed replacement lacks equivalent qualifications or experience, based on reasonable standards. Consultant shall be solely responsible for any delays or additional costs resulting from changes to key personnel. If City desires to request the removal of any of Consultant's staff, City shall first meet with Consultant and provide reasonable justification for said removal; upon such reasonable justification, Consultant shall use good faith efforts to remove or reassign the staff at issue. 36. AUDIT AND RECORDS. A. MAINTENANCE OF RECORDS. Consultant shall maintain complete and accurate books,documents,accounting records,financial records, project files, correspondence, subconsultant files, and other evidence relating to performance of the Services("Records").Records shall be maintained in accordance with generally accepted accounting principles and industry standards. B. RETENTION. Consultant shall retain all Records for a period of five(5)years after the latest of: (i)final payment under this Agreement, (ii) expiration of the Agreement, or (iii) resolution of any dispute arising from this Agreement. C. AUDIT RIGHTS. The City and its duly authorized representatives may audit,inspect,examine,and copy the Records at any time during normal business hours upon reasonable notice.Such audits may include review of direct and indirect costs, overhead, multipliers, subconsultant invoices, and supporting documentation. D. COSTS DISALLOWED. If an audit reveals overcharges, unallowable costs, or other amounts improperly invoiced, the Consultant shall promptly refund such amounts to the City.The City may withhold payment,offset against future invoices,or pursue any legal remedy to recover disallowed costs. E. COOPERATION. Consultant shall cooperate fully with all audit activities and shall ensure that subconsultants comply with the requirements of this article. 37. THIRD-PARTY BENEFICIARIES. Neither Consultant nor City intends to primarily or directly benefit a third party by this Agreement. Therefore, the Parties acknowledge that there are no third-party beneficiaries to this Agreement and that no third party shall be entitled to assert a right or claim against either of them based upon this Agreement. 38. MATERIALITY AND WAIVER OF BREACH. Each requirement, duty, and obligation set forth in this Agreement was bargained for at arm's length and is agreed to by the Parties.Each requirement,duty, and obligation set forth in this Agreement is substantial and essential to the formation of this Agreement, and each is, therefore, a material term. City's failure to enforce any provision of this Agreement shall not be deemed a waiver of such provision or a modification of this Agreement.A waiver of any breach shall not be deemed a waiver of any subsequent breach and shall not be construed as a modification of this Agreement. To be effective, any waiver must be in writing and signed by an authorized signatory of the Party granting the waiver. Continuing Consulting Services Template 12.8.25(SRW) 54 Y�A (d. U City of Boynton Beach °~'ON Procurement Services 39. COUNTERPARTS AND MULTIPLE ORIGINALS. This Agreement may be executed in multiple originals and may be executed in counterparts,whether signed physically or electronically,each of which shall be deemed to be an original,but all of which,taken together, shall constitute one and the same agreement. 40. HEADINGS. The headings contained in this Agreement are for the convenience of reference only and shall not affect the interpretation of this Agreement. 41. NON-DISCRIMINATION. Consultant and any subconsultants shall not discriminate on the basis of race, color,sex, religion, national origin, disability, age, marital status, political affiliation, sexual orientation, pregnancy, or gender identity and expression in the performance of this Agreement. 42. PROHIBITION ON USE OF CITY'S NAME IN MARKETING Consultant shall not use the City's name, logo, seal, or any reference to this Agreement in any advertising, marketing materials, client lists, press releases, or public statements without the City's prior written approval. 43. CONFLICT OF INTEREST. Consultant warrants that, to the best of its knowledge, no conflict of interest exists with respect to the performance of this Agreement. Consultant shall promptly disclose any actual or potential conflict of interest to the City in writing. The City may terminate this Agreement if, in its sole discretion, a conflict of interest exists that cannot be adequately mitigated. 44. CONTROLLING PROVISIONS. Except as otherwise explicitly provided herein, in the event of any conflict between the specific provisions of this Agreement and the requirements or provisions of the Solicitation, any Task Order and/or the Proposal, the provisions shall be given precedence in the following order: (1) this Agreement, (2) the Solicitation; (3)the applicable Task Order; and (4)the Proposal. Wherever possible, the provisions of the documents shall be construed in such a manner as to avoid conflicts between the provisions of the various documents. 45. ENTIRE AGREEMENT. The Agreement, including the Solicitation, the Proposal, any Task Orders, and the Exhibits that are incorporated into this Agreement in their entirety, embody the entire agreement and contemporaneous agreements and understandings, oral or written, relating to said subject matter.This Agreement may only be modified by a written amendment executed by the City and Consultant. 46. SEVERABILITY. If any provision of this Agreement or application thereof to any person or situation shall,to any extent, be held invalid or unenforceable, the remainder of this Agreement and the application of such provisions to persons or situations other than those as to which it shall have been held invalid or unenforceable, shall not be affected thereby and shall continue in full force and effect, and be enforced to the fullest extent permitted by law. 47. NO CONSTRUCTION AGAINST DRAFTER. The Parties acknowledge that they have both participated in the negotiation and preparation of this Agreement. Accordingly, this Agreement shall not be construed more strictly against either Party, regardless of which Party was responsible for its preparation. Continuing Consulting Services Template 12.8.25(SRW) 55 City of Boynton Beach Procurement Services 48. FEDERAL GRANT COMPLIANCE. If any Task Order involves work funded in whole or in part by federal funds, the Consultant shall comply with all federal requirements applicable to the funding source, including, but not limited to, procurement, reporting,record retention,audit access,and prohibited telecommunications equipment requirements. In the event of any conflict between this Agreement and the federal requirements,the federal requirements will govern and control. 49. PURCHASE ORDER REQUIRED: The City will not accept any goods delivered or services performed unless a duly authorized purchase order has been issued for said goods and/or services. The purchase order number must appear on all invoices, packing slips, and all correspondence concerning the order. Continuing Consulting Services Template 12.8.25(SRW) 56 Y o,A ( a \ z oV City of Boynton Beach `'`' Procurement Services IN WITNESS WHEREOF,the Parties hereto have executed this Agreement on the day and year set forth below. CITY OF BOYNTON BEACH: CONSULTANT: [Consultant Legal Name] By: By: Print Name: Print Name: Title: Title: Date: Date: ATTEST: Maylee De Jesus, MMC,City Clerk City Attorney's Office Approved as to Form By: Continuing Consulting Services Template 12.8.25(SRW) 57 City of Boynton Beach Procurement Services EXHIBIT A SCOPE OF SERVICES v., m z , City of Boynton Beach Procurement Services EXHIBIT B FORM OF TASK ORDER Y o� o 4p tiT ON 0 CITY OF BOYNTON BEACH Continuing Consulting/Professional Services Task Order Consultant: Procurement: 1. Task/Project. 2. Aereement Reference.This Task Order shall be performed under the terms and conditions described within the Continuing Consulting / Professional Services Agreement ("Agreement"), dated , by and between the City of Boynton Beach and 3. Scope of Services.The scope of services and all required deliverables under this Task Order are attached as Exhibit A.This Task Order is issued in accordance with Section 1(b)of the Agreement. 4. Project Schedule.Consultant shall deliver to the City the deliverables specified [within days after the date of Notice to Proceed for such services] or [pursuant to the time periods specified in the Project Schedule included in Exhibit A said time periods shall commence from the date of the Notice to Proceed for such services]. 5. Compensation.Payment for the services authorized by this Task Order shall be in accordance with Article 6 of the Agreement. The total Fee to be paid to the Consultant under this Task Order shall not exceed $ based on the detailed fee schedule attached as Exhibit B,which shall be based on the Hourly Rates established in the Agreement. 6. Insurance. Consultant shall maintain insurance coverages in accordance with the Agreement and hereby confirms that Certificate(s) of Insurance evidencing current policies meeting the requirements of the Agreement are on file with the City as of the date of this Task Order. 7. Exhibits.All attached Exhibits are incorporated fully into this Task Order and the Agreement. 8. Notice to Proceed. Consultant's receipt of a fully executed copy of this Task Order and a PO issued by the City shall serve as the"Notice to Proceed" under this Task Order,effective as of the date the fully executed Task Order and PO were emailed to the Consultant. 9. Incorporation: No Modification.The terms and conditions of the Agreement are hereby incorporated into this Task Order. Nothing contained in this Task Order shall alter, modify, or change in any way the terms and conditions of the Agreement with the City. CONSULTANT: CITY OF BOYNTON BEACH City of Boynton Beach ' Procurement Services By: By: Name: Print Name: Title: Date: 20_ Date: ,20_ Attest: City Clerk City Attorney's Office Approved as to form and legality By: j City of Boynton Beach '-"''o..'47 Procurement Services EXHIBIT C FEE SCHEDULE/HOURLY RATES City of Boynton Beach "r Procurement Services EXHIBIT D INSURANCE ADVISORY If a Consultant is providing a service under this Agreement, then the Consultant shall, at its sole expense, always maintain in full force and effect during the life of this Agreement, insurance coverages,and limits(including endorsements),as required by the City. These requirements shall not in any manner limit or qualify the liabilities and obligations assumed by the Consultant under this Agreement. All coverages shall be provided on a primary basis with the City endorsed as an Additional Insured as follows: "The City of Boynton Beach". The Consultant shall provide the City with a Certificate of Insurance evidencing such coverages prior to the commencement of any services and within a time frame specified by the City(normally within 2 working days after request).Failure to maintain the required insurance shall be considered a default of the Agreement. It shall be the responsibility of the Consultant to maintain workers' compensation insurance, professional liability, property damage liability insurance, and vehicular liability insurance; during the time any of his/her personnel are working on City of Boynton Beach property. Loss by fire or any other cause shall be the responsibility of the Consultant until such time as the items and/or work have been accepted by the City. The Consultant shall furnish the City with a certificate of insurance after award has been made prior to the start of any work on City property. Said insured companies must be authorized to do business in the State of Florida and the City will not accept any company that has a rating less than B+ in accordance with A.M. Best's Key Rating Guide, latest edition. The City of Boynton Beach Finance/Procurement Services 100 E. Ocean Avenue f r" Boynton Beach, FL 33435 o o\;. P.O. Box 310 �rON Boynton Beach, Florida 33425-0310 Telephone:(561) 742-6310 ADDENDUM No. 1 Wednesday,April 22, 2026 26-053R -STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services(Consultant) Closing Date: Wednesday,April 29, 2026, 3:00 PM This addendum to the drawings, specifications, and/or contract documents is issued to provide additional information and clarification to the original solicitation specifications and proposal form and is hereby declared a part of the original drawings, specifications and/or contract documents. In case of a conflict, this Addendum shall govern. Words in strike-through type are deletions from existing text. Words in bold, underlined and/or r-•u type are additions to existing text. Question 1: Can you provide a list of the recent P3 projects completed in the past few years and the private partner/developer involved? Answer 1: The City has not completed a true P3. We have in the past received unsolicited proposals but have not taken to completion. We are anticipating three to four P3's in the next three to six months and that is reason for this solicitation. Question 2: Which department will be the primary point of contact for the Consultant? Answer 2: Finance Department,Alan Lawson,CFO Question 3: Do you have a list of City-owned properties? Answer 3: Please use Palm Beach County Property Appraiser(PBC PAPA)website to obtain the list of all City owned properties. Question 4: I cannot find the following documents, on the RFP package or online on the submission process: Offerors Qualification statement, Firms Primary Ownership, and Palm Beach Inspector General Acknowledgement. Are these forms needed? Or are these just portions of the RFP that need to be separated and submitted? Answer 4:See below 1. Offerors Qualification Statement= Proposers Qualification Statement 2. Firm's Primary Ownership is in the specifications 3. Palm Beach Inspector General Acknowledgement is in the specifications If you have any further questions or require additional clarification, please submit to the Purchasing representative through the Solicitation System only by clicking on the "Submit a Question" button for this specific Solicitation. Sincerely, City of Boynton Beach Financial Services V O. rr O \ _ City of Boynton Beach "'°' 047 Procurement Services ATTACHMENT B CONSULTANT'S PROPOSAL Proposal of PFM Financial Advisors LLC dated April 29,2026, and Best and Final Offer dated August 7, 2026 [The Proposal follows this page and is incorporated into this Agreement in its entirety.] 26-053R - STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) Opening Date:April 6, 2026 6:08 PM Closing Date:April 29, 2026 3:00 PM Vendor Details Company Name: PFM Financial Advisors LLC 2222 Ponce De Leon Address: 05-109 Coral Gables, FL 33134 Contact: Dorrena Davis Email: davisd@pfm.com Phone: 407-406-5770 HST#: Submission Details Created On: Tuesday April 07, 2026 12:14:48 Submitted On: Wednesday April 29,2026 09:49:59 Submitted By: Dorrena Davis Email: davisd@pfm.com Transaction#: 43adc91d-3d68-4798-b5d3-47c31164331f Submitter's IP Address: 10.13.1.8 Schedule of Prices The Bidder hereby Bids and offers to enter into the Contract referred to and to supply and do all or any part of the Work which is set out or called for in this Bid, at the unit prices,and/or lump sums, hereinafter stated. *Denotes a"MANDATORY"field Do not enter$0.00 dollars unless you are providing the line item at zero dollars to the Owner(unless otherwise specified). If the line item and/or table is"NON-MANDATORY"and you are not bidding on it, leave the table and/or line item blank.Do not enter a $0.00 dollar value. Table 1 — Personnel Rate Card The undersigned declares that Proposer has carefully examined the specifications and is thoroughly familiar with its provisions and with the quality,type,and grade of service required. The undersigned proposes to deliver the service in accordance with the specifications for "STRATEGIC P3 FINANCIAL ADVISORY SERVICES." *Note: The City of Boynton Beach will hold all Proposals and Proposal guarantees for a period not to exceed one-hundred twenty(120) days after the RFP opening date. Note: Rates shall remain fixed for the initial contract term unless otherwise negotiated.THE CITY WILL NEGOTIATE ALL RATES Years of Personnel Classification Name(if known) Hourly Rate ($) Experience Lead Financial Advisor/Principal Sergio Masvidal $500.0000 15 James"Jay"Glover Senior Advisor/Director I unknown at this time 1$400.0000 110 Financial Model Specialist 'unknown at this time 1$350.0000 15 Infrastructure/P3 Specialist Kevin Plenzler $500.0000 15 Ryan Conway Scott Shearer Senior Analyst 'unknown at this time 1$300.0000 15 Financial Analyst I unknown at this time 1$300.0000 15 Legal/Compliance Advisor(if unknown at this time $400.0000 10 applicable) Administrative Support 'unknown at this time 1$150.0000 110 Table 2 — Phase-Based Pricing (Typical P3 Advisory Phases) The undersigned declares that Proposer has carefully examined the specifications and is thoroughly familiar with its provisions and with the quality, type, and grade of service required. The undersigned proposes to deliver the service in accordance with the specifications for "STRATEGIC P3 FINANCIAL ADVISORY SERVICES." *Note: The City of Boynton Beach will hold all Proposals and Proposal guarantees for a period not to exceed one-hundred twenty(120) days after the RFP opening date. Note: Rates shall remain fixed for the initial contract term unless otherwise negotiated.THE CITY WILL NEGOTIATE ALL RATES Project Phase Description I Proposed Fee($) ' N 1 Phase 1 Project Initiation and Financial Feasibility Analysis I$25,000.0000 2 Phase 2 Financial Modeling and Market Sounding I$20,000.0000 3 Phase 3 Procurement Support and RFP Development I$15,000.0000 4 Phase 4 Proposal Evaluation and Financial Analysis I$25,000.0000 5 Phase 5 Negotiations and Financial Close Support I$75,000.0000 Table 3 — Scenario Pricing (For Major Project Changes) The undersigned declares that Proposer has carefully examined the specifications and is thoroughly familiar with its provisions and with the quality,type, and grade of service required. The undersigned proposes to deliver the service in accordance with the specifications for "STRATEGIC P3 FINANCIAL ADVISORY SERVICES." *Note: The City of Boynton Beach will hold all Proposals and Proposal guarantees for a period not to exceed one-hundred twenty(120) days after the RFP opening date. Note: Rates shall remain fixed for the initial contract term unless otherwise negotiated.THE CITY WILL NEGOTIATE ALL RATES This table helps the City understand cost impacts if the project scope changes # I Scenario I Description I Proposed Cost($) 1 I Scenario A 'Alternative delivery structure analysis I$25,000.0000 2 I Scenario B 'Additional financial feasibility study I$20,000.0000 3 I Scenario C I Additional negotiation support with proposer 1$10,000.0000 4 I Scenario D I Additional financial model revisions I$15,000.0000 Table 4 — Reimbursable Expenses The undersigned declares that Proposer has carefully examined the specifications and is thoroughly familiar with its provisions and with the quality,type,and grade of service required. The undersigned proposes to deliver the service in accordance with the specifications for "STRATEGIC P3 FINANCIAL ADVISORY SERVICES." *Note:The City of Boynton Beach will hold all Proposals and Proposal guarantees for a period not to exceed one-hundred twenty(120) days after the RFP opening date. Note: Rates shall remain fixed for the initial contract term unless otherwise negotiated.THE CITY WILL NEGOTIATE ALL RATES This table helps the City understand cost impacts if the project scope changes # Expense Category Proposed Cost($) * 1 Travel (if approved by the City) $3,000.0000 2 I Data acquisition/market data I$5,000.0000 3 I Printing/document production I$1,000.0000 4 I Other I$1,000.0000 Table 5 — Optional Services (Hourly or Task-Based) The undersigned declares that Proposer has carefully examined the specifications and is thoroughly familiar with its provisions and with the quality,type,and grade of service required. The undersigned proposes to deliver the service in accordance with the specifications for "STRATEGIC P3 FINANCIAL ADVISORY SERVICES." *Note:The City of Boynton Beach will hold all Proposals and Proposal guarantees for a period not to exceed one-hundred twenty(120) days after the RFP opening date. Note: Rates shall remain fixed for the initial contract term unless otherwise negotiated.THE CITY WILL NEGOTIATE ALL RATES This table helps the City understand cost impacts if the project scope changes # Optional Service Pricing Method Rate/Cost($)* 1 Additional Financial Analysis Hourly $500.0000 2 I Additional Procurement Support I Hourly I$500.0000 3 I Additional Negotiation Support I Hourly I$500.0000 4 I Additional Stakeholder Presentations I Per Meeting I$500.0000 CERTIFICATION We(I),the undersigned, hereby agree to furnish the item(s)/service(s)described in the Request for Proposal. We(I)certify that we(I) have read the entire document, including the Scope of Work,Additional Requirements, Supplemental Attachments, Instructions to Proposers,Terms and Conditions, and any Addenda issued. We agree to comply with all of the requirements of the entire Request for Proposals. # Description Response Options 1 Company Name PFM Financial Advisors LLC 2 Address 2222 Ponce De Leon, 3rd Floor 3 Telephone 786.671.7480 4 City Coral Gables 5 State Florida 6 Zip Code 33134 7 Contractor's License Number FL License Number: M16000004976 8 Federal Tax ID Number 181-1642787 9 Email address for above signer Imasvidals@pfm.com 10 Indicate which type of organization from Limited Liability Company Limited Liability the list in the Options Column VENDOR DRUG FREE WORKPLACE Preference may be given to vendors submitting a certification with their bid/proposal certifying they have a drug-free workplace in accordance with Section 287.087, Florida Statutes. This requirement affects all public entities of the State and becomes effective January 1, 1991. The special condition is as follows: IDENTICAL TIE BIDS- Preference may be given to businesses with drug-free workplace programs.Whenever two or more bids that are equal with respect to price, quality, and service are received by the State or by any political subdivision for the procurement of commodities or contractual services, a bid received from a business that certifies that it has implemented a drug-free workplace program shall be given preference in the award process. Established procedures for processing tie bids will be followed if none of the tied vendors have a drug-free workplace program. In order to have a drug-free workplace program, a business shall: Publish a statement notifying employees that the unlawful manufacture, distribution,dispensing, possession, or use of a controlled substance is prohibited in the workplace and specifying the actions that will be taken against employees for violations of such prohibition. 1. Inform employees about the dangers of drug abuse in the workplace,the business's policy of maintaining a drug-free workplace, any available drug counseling, rehabilitation,and employee assistance programs, and the penalties that may be imposed upon employees for drug abuse violations. 2. Give each employee engaged in providing the commodities or contractual services that are under bid a copy of the statement specified in subsection (1). 3. In the statement specified in subsection (1), notify the employees that, as a condition of working on the commodities or contractual services that are under bid, the employee will abide by the terms of the statement and will notify the employer of any conviction of,or plea of guilty or nolo contendere to, any violation of chapter 893 or of any controlled substance law of the United States or any state, for a violation occurring in the workplace no later than five (5)days after each conviction. 4. Impose a section on, or require the satisfactory participation in a drug abuse assistance or rehabilitation program if such is available in the employee's community, by any employee who is so convicted. 5. Make a good faith effort to continue to maintain a drug-free workplace through implementation of this section.As the person authorized to sign the statement, I certify that this form complies fully with the above requirements. # 1 Description 1 Response 1 I Hereby Acknowledge the Drug Free Information Above and Will Yes Abide by Everything in this Section. PROPOSERS'S QUALIFICATION STATEMENT # Description Response 1 How many years has your organization been in business under its present 10 name? 2 If Vendor is operating under Fictitious Name, submit evidence of compliance N/A with Florida Fictitious Name Statute. 3 Under what former name (s)had your business operated?Also list former Public Financial address(es)of that business, if any. Management, Inc. 4 Have you ever been disbarred or suspended from doing business with any No governmental entity? If Yes,explain. • 5 Are you licensed? If Yes,attach copy of license to submission package. 1 Yes 6 I Has your company ever declared bankruptcy? If Yes, explain. I No SCRUTINIZED COMPANIES DETERMINATION By submission of this qualification package and if selected by the City as the CONSULTANT, execution of this Agreement, in accordance with the requirements of F.S. 287.135 and F.S. 215.473, CONSULTANT, certifies that CONSULTANT is not participating in a boycott of Israel. CONSULTANT further certifies that CONSULTANT is not on the Scrutinized Companies that Boycott Israel list, not on the Scrutinized Companies with Activities in Sudan List, and not on the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List, nor has CONTRACTOR been engaged in business operations in Syria. Subject to limited exceptions provided in state law, the CITY will not contract for the provision of goods or services with any scrutinized company referred to above. Submitting a false certification shall be deemed a material breach of contract. The CITY shall provide notice, in writing, to the CONSULTANT of the CITY's determination concerning the false certification. CONSULTANT shall have five (5)days from receipt of notice to refute the false certification allegation. If such false certification is discovered during the active contract term, CONSULTANT shall have ninety (90) days following receipt of the notice to respond in writing and demonstrate that the di:.: of false certification was made in error. If CONSULTANT does not demonstrate that the City's determination of false certification was made in error, then the City shall have the right to terminate the contract and seek civil remedies pursuant to Section 287.135, Florida Statutes, as amended from time to time. Description Response 1 I Hereby Acknowledge the Scrutinized Companies- Florida Statute ' Yes 287.135 and 215.473 Information Above and Will Abide by Everything No Outlined in this Section. E-VERIFY As a condition precedent to entering into this Agreement, and in compliance with Section 448.095, Fla. Stat., Contractor and its subcontractors shall register with and use the E-Verify system to verify work authorization status of all employees hired after January 1, 2021. Contractor shall require each of its subcontractors to provide Contractor with an affidavit stating that the subcontractor does not employ, contract with, or subcontract with an unauthorized alien. Contractor shall maintain a copy of the subcontractor's affidavit as part of and pursuant to the records retention requirements of this Agreement. City, Contractor, or any subcontractor/subconsultant who has a good faith belief that a person or entity with which it is contracting has knowingly violated Section 448.09(1), Fla. Stat. or the provisions of this section shall terminate the contract with the person or entity. City, upon good faith belief that a subcontractor knowingly violated the provisions of this section; but Contractor otherwise complied, shall promptly notify Contractor and Contractor shall immediately terminate the contract with the subcontractor. An agreement or contract terminated under the provisions of this section is not a breach of contract and may not be considered such. Any agreement or contract termination under the provisions of this section may be challenged pursuant to Section 448.095(2)(d), Fla. Stat. Contractor acknowledges that upon termination of this Agreement by the City for a violation of this section by Contractor, Contractor may not be awarded a public contract for at least one (1) year. Contractor further acknowledges that Contractor is liable for any additional costs incurred by the City as a result of termination of any contract for a violation of this section. Contractor or subcontractor shall insert in any subcontracts the clauses set forth in this section; requiring the subcontractors to include these clauses in any lower tier subcontracts. Contractor shall be responsible for compliance by any subcontractor or lower tier subcontractor with the clauses set forth in this section. # Description Response 1 I Hereby Acknowledge the E-VERIFY Information Above and Will • Yes Abide By Everything in this Section. No Confirmation of Minority Owned Business A requested form to be made a part of our files for future use and information. Please fill out and indicate in the appropriate spaces provided which category best describes your company. Return this form to make it an official part of with your Proposal responses. We will not be submitting for Confirmation of Minority Owned Business Description Response Comments Is your company a Minority Owned business? Please select the appropriate response Do you possess a certification qualifying your business as a Minority Owned business? Issuing organization name Date of Issuance Local Business Status Certification LOCAL BUSINESS PREFERENCE The City of Boynton Beach Administrative Policy No. 10.16.01 provides for a local business preference. A valid business tax receipt issued by the City for at least one(1)year prior to solicitation. "For all acquisitions made pursuant to Requests for Proposals, Requests for Qualifications, or Requests for Letters of Interest, the solicitation shall include a criterion for Local Businesses of five percentage points (5%) of the total points in the evaluation criteria published in the solicitation. Local Preference shall not be applied when its application would result in an award that exceeds the otherwise lowest responsive, responsible Proposer by 5%or$5,000 whichever is lower. For all acquisitions made pursuant to Requests for Proposals, Requests for Qualification, or Requests for Letters of Interest, where the solicitation includes a qualitative ranking rather than a quantitative selection, the evaluation criteria shall include a Local Business preference, as reasonably determined by the Purchasing Division, consistent with the intent of this Policy. Each such solicitation shall clearly define the application of the Local Business preference." Respondents must include the Local Business Status Certification acknowledgement with their RFP submissions to be considered for a local business preference. Failure to submit this form at the time of RFP submittal will result in the Respondent being found ineligible for the local business preference for this solicitation and will receive zero(0)points for that criterion. If the Respondent meets the requirements of a local business as defined by the preference, the proposal will be awarded the total 5 points allotted by each evaluation committee member. Firms not meeting the Preference requirements will receive zero points in this evaluation criterion. We will not be submitting for Local Business Status Certification Is the business located Does the business have a Is the business registered Number of years in Business license within the City limits of business tax receipt issued with the Florida Division business number Boynton Beach, Florida? in the current year? of Corporations? Yes Yes Yes No No No PALM BEACH COUNTY INSPECTOR GENERAL The Proposer, if awarded Contractor, is aware that the Inspector General of Palm Beach County has the authority to investigate and audit matters relating to the negotiation and performance of any Agreement resulting from this solicitation and, in furtherance thereof, may demand and obtain records and testimony from the Consultant and its sub-consultants. Description Response* 1 I Hereby Acknowledge the Palm Beach County Inspector General Yes Information Above and Will Abide by Everything in this Section. FIRM'S PRIMARY OWNERSHIP Complete this ownership information. If Other Please Enter Information Here: If NONE # Description Response Enter the Word NONE. 1 Does your firm employ more than 50 Yes persons(including full-time and part- time employees) 2 I Is your firm a construction firm I No 3 If you are a construction firm, is the No NOT APPLICABLE - Portal required response. average annual gross revenue for your firm for the past three years greater than$9 million? 4 Which of the following best describes Male PFM Financial Advisors LLC is a wholly-owned the gender of your firm's primary owner subsidiary of a holding company known as PFM II, LLC. (at least 51%ownership) This holding company is 100%owned by the firm's 46 Managing Directors. No individual Managing Director owns 51%of PFM II, LLC. 5 Which of the following best describes Other PFM Financial Advisors LLC is a wholly-owned the ethnicity of your firm's primary subsidiary of a holding company known as PFM II, LLC. owner(at least 51%) This holding company is 100%owned by the firm's 46 Managing Directors. No individual Managing Director owns 51%of PFM II, LLC. 6 Please select the current certification SBE NOT APPLICABLE -Portal required response. PFM your firm holds: (Note: Proof of Financial Advisors LLC is a wholly-owned subsidiary of Certification must be included in a holding company known as PFM II, LLC. This holding Document Upload Section) company is 100%owned by the firm's 46 Managing Directors. No individual Managing Director owns 51%of PFM II, LLC. 7 Indicate the agency or agencies that Other NOT APPLICABLE-Portal required response, - PFM have granted the certification to your Financial Advisors LLC is a wholly-owned subsidiary of firm. a holding company known as PFM II, LLC. This holding company is 100%owned by the firm's 46 Managing Directors. No individual Managing Director owns 51%of PFM II, LLC. References 1. References — Past Performance Provide a list of three (3)governmental agency references or similar contracts for which the Proposer has completed or is in progress within the past ten (10)years, with the following information: a. Name of Agency b.Address c. Contact Name, Email Address d. Telephone Number e. Scope of Work f. Date project was completed or is anticipated to be completed g. Total dollar value of project or contract The City is interested in learning about other firms'or government agencies'experiences with your firm; as such, please do not list the City of Boynton as a reference. Contact persons must be informed that they are being used as a reference and that the City or their designee will be contacting them for information. Selection Committee Members or designee may email or call each reference up to three (3) times. If there is no answer after the third attempt,the City may apply no points for that project experience. Reference 1 -Completed or In Reference 2 -Completed or In Reference 3-Completed or In Description Progress Progress Progress Agency Name City of Fort Lauderdale, FL Miami-Dade County, FL City of Vero Beach, FL Address 100 N.Andrews Ave., 6th floor 111 N.W. 1st Street, Suite 2550 1053 20th Place Fort Lauderdale, FL 33301 Miami, FL 33128-1929 Vero Beach, FL 32961 Contact Name I Linda Logan-Short I Arlesa Wood, Director I Jason H. Jeffries,AICP Email Address I LShort@fortlauderdale.gov I arlesa.wood@miamidade.gov I jjeffries@covb.org Telephone Number I(954)828-5267 1(305)375-5147 I(772)978-4522 Scope of Work Financial Advisory, Long-Term Financial Advisory, Long-Term : Financial Advisory, Long-Term Planning, Debt Structuring and Planning, Debt Structuring and Planning, Debt Structuring and Optimization, Credit Rating Optimization, Credit Rating Optimization, Credit Rating Management, P3 Advisory Management, P3 Advisory Management, P3 Management Date project was Utility Concession (DBOM) Miami Dolphins Stadium Real Estate Redevelopment completed or is Improvements (DBOMF) (DBF) anticipated to be completed Total dollar value of $300,000 $40,000 $350,000 project or contract Subcontractors The Bidder shall state all Subcontractor(s)and type of Work proposed to be used for this project. Bidders shall not indicate"TBD"(To Be Determined)or"TBA" (To Be Announced)or similar wording and shall not indicate multiple choices of Subcontractor names for any Subcontractor category in their list of Subcontractors. Schedule of Sub-Consultants The Undersigned Respondent proposes the following major subcontractors for the major areas of work for the Project. The Respondent is further notified that all sub-contractors shall be properly licensed, bondable and shall be required to furnish the City with a Certificate of Insurance in accordance with the contract general conditions.This page may be reproduced for listing additional sub-contractors, if required. If not applicable or if no-subconsultants will be used in the performance of this Work,write"Not-Applicable"or"NONE"across the form. By clicking here I confirm that there are no Subcontractor(s)/Subconsultant(s)and the Bidder shall perform the project with their "OWN FORCES". Name of Sub- Address of Sub- Percentage(%)of License No. Contract Amount Consultant Consultant Contract 1 NONE NONE NONE NONE NONE Documents Ensure your submission document(s) to the following: Documents should NOT have a security password, as City of Boynton Beach may not be able to open the file. It is your sole responsibility to ensure that the uploaded document(s)are not either defective, corrupted or blank and that the documents can be opened and viewed by City of Boynton Beach. If you need to upload more than one (1)document for a single item, you should combine the documents into one zipped file. If the zipped file contains more than one(1)document, ensure each document is named, in relation to the submission format item responding to. For example, if responding to the Marketing Plan category save the document as"Marketing Plan." If the attached file(s)cannot be opened or viewed, your Bid Call Document may be rejected. SECTION V — SUBMISSION OF PROPOSALS RFP No.26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services(Consultant) 1. GENERAL REQUIREMENTS The purpose of the Technical Proposal is to demonstrate the qualifications, competence, and capacity of an independent financial advisory and analytical services to assist the City in evaluating and structuring Public-Private Partnership (P3) proposals and initiatives.The City will evaluate the substance of the Proposal over its length,form,or presentation style. 2. DETAILS OF PROPOSAL Each section listed below shall be added to the corresponding upload section and completed online via the e-procurement system. All detailed proposal reauests outlined below.along with the required forms. shall be submitted online A. Letter of Interest The Letter of Interest to the Evaluation Committee summarizes the Proposer's primary qualifications and a firm commitment to provide the proposed services. B. Proposer's Qualifications: Company Culture/Structure and Experience Proposer shall complete and submit the Proposer's Qualification Statement. Company Profile Number of years in business,ownership structure,and number of employees. Organizational Structure Submit an organizational chart illustrating reporting lines and the division of responsibilities for all staff assigned to this engagement. For each team member,provide a detailed description of their role, responsibilities, relevant professional experience,and educational background. SUNBIZ Proof of authorization (SUNBIZ)from the Florida Secretary of State to transact business in the State from the Proposer. Relevant Experience Outlined in the Scope of Work. Applicable Insurance Submit current proof of General and Professional Liability Insurance Certificate of Insurance(COI). c.Technical / Operational Proposal Sample Work Product: Proposer shall provide a comparable redacted engagement that demonstrates a value-for-money analysis or financial model summary. Understanding of the Scope of Work:-Proposer needs to demonstrate its understanding of the City's specific P3 objectives, challenges,and procurement environment.This separates firms that read the RFP carefully from those submitting boilerplate responses. Technical Approach&Methodology a detailed narrative of how the firm will approach each core service area,including value-for-money and public sector comparator analysis,risk identification,quantification,and allocation framework,financial modeling and deal structure evaluation,market sounding and investor/developer engagement support, and procurement and contract negotiation advisory. Proposed Work Plan &Schedule: Proposer shall provide a phased work plan tied to the City's anticipated procurement timeline, including key milestones, deliverables by phase,and how the firm will adapt if the schedule shifts. Key Personnel &Staffing Plan: Proposer shall submit profiles for all personnel proposed for this engagement, their specific roles and responsibilities,their availability and commitment percentage throughout the engagement, and an organizational chart showing team structure and the City's primary points of contact. In addition, include a current one-page résumé for each individual. Subcontractors&Teaming Arrangements: Proposer shall identify any subconsultants,their specific roles, and how the prime firm will oversee and integrate their work to ensure quality and accountability. Quality Control& Project Management: Proposer shall show how the firm manages internal review of financial models and deliverables, handles version control and document management, and maintains consistent communication with City staff throughout the engagement. Conflicts of Interest Disclosure: Proposer shall provide a full disclosure of any relationships with P3 investors, developers, lenders, or operators that could create a conflict, along with the firm's policy for managing conflicts if they arise mid- engagement. D. Financial Proposal Requirements The purpose of the Financial Proposal is to establish the Proposer's financial responsibility, stability, and capacity under the Agreement. E. Financial Statements • Proposers are encouraged to submit audited financial statements for the most recent two(2)fiscal years, including a balance sheet, income statement, and statement of cash flows. • If audited statements are not available,the City will accept compiled or reviewed financial statements prepared by a licensed Certified Public Accountant(CPA), accompanied by the firm's notes and disclosures. • In the absence of the above,the City may accept the last two(2)years of federal tax returns. with all personal identifiers redacted, as alternative documentation of financial stability. • The City will also consider other reasonable documentation that demonstrates the proposer's financial capacity, recognizing that small businesses may have different forms of records. b. Proof of Financial Stability • Letter of Creditworthiness or Bank Reference Letter • Disclosure of Bankruptcy or Insolvency proceedings within the last five(5)years. E. Litigation Disclosure Requirement: Proposers are required to disclose all litigation, claims, or legal proceedings—past or pending—filed within the last fifteen (15) years involving the proposing firm, its principals,owners, officers/directors,or any related entities. This disclosure must include all companies in which the proposer,or any partner/officer/director thereof, has held an ownership interest or has been listed as a Registered Agent or Officer/Director in the Florida Division of Corporations(SUNBIZ). This includes all related parties listed in SUNBIZ. The proposer shall identify each such entity by the following: • Legal name • FEI/EIN Number • Document number, • Registered Agent Name&Address • Business address • Principal Address • Mailing Address If any litigation has taken place under the Entity Name, Proposer shall provide a summary of each case, including the nature of the dispute,jurisdiction, case number, and final disposition or current status. Failure to disclose any such litigation or to identify all affiliated entities as defined herein shall be presented to the evaluation committee, and any omissions will be subject to review of the evaluation committee to be determined non- responsive. The City reserves the right to verify SUNBIZ records and other public filings to confirm compliance with this requirement.All information will be verified by the Procurement Division to ensure compliance with this requirement. F. References At least 3 recent/current Consultant contracts with contact information. Provide a list of three (3)references or similar contracts for which the Proposer has completed or is in progress within the past ten (10)years with the following information: • Name of Agency • Address • Contact Name, Email Address • Telephone Number The City is interested in learning about other firms'or government agencies'experiences with your firm; as such, please do not list the City of Boynton as a reference. Contact persons must be informed that they are being used as a reference and that the City or their designee will be contacting them for information. Selection Committee Members or designee may email or call each reference up to three(3)times. If there is no answer after the third attempt,the City may apply no points for that contract experience. 3. EXCEPTIONS BY PROPOSER Incorporation in a proposal of exceptions to any portion(s)of the Contract Documents may invalidate the proposal. Exceptions to the Scope of Work and/or Special Provisions shall be clearly and specifically noted in the submitted proposal on a separate sheet marked "EXCEPTIONS TO THE SPECIFICATIONS;'which shall be attached to the proposal. Any exceptions taken to the terms and conditions of the solicitation or the City's Agreement shall be considered a part of the Proposer's solicitation response and will be considered by the City in its evaluation.Any exception not specifically stated is deemed waived. Submission of any exceptions does not denote acceptance by the City. Furthermore, taking exceptions to the City's terms and conditions may be viewed unfavorably by the City/evaluation committee and ultimately may impact the overall evaluation of a Proposer's submittal. The use of the Proposer's standard forms or the inclusion of the manufacturer's printed documents shall not be construed as constituting an exception within the intent of the Contract Documents. 4. SUB-CONSULTING If a Proposer utilizes sub-consultants for any portion of the Agreement for any reason,the Proposer should state the name and address of the sub-consultant and the name of the person to be contacted on the online form within the e-procurement system under"Schedule of Sub-consultant." The City of Boynton Beach reserves the right to accept or reject any or all proposals wherein a sub-consultant is named and to make the award to the Consultant,who, in the opinion of the City,will be in the best interest of and/or most advantageous to the City. The City also reserves the right to reject a submission of any Proposer if the solicitation names a sub-consultant who has previously failed to perform an award properly or failed to deliver on-time contracts of a similar nature or who cannot perform correctly under this award. The City reserves the right to inspect all facilities of any sub-consultant to determine the foregoing. The sub-Consultant will be equally responsible for meeting all requirements specified in this Request for Proposals(RFP). Proposers are encouraged to seek participation from minority and women-owned business enterprises in subcontracting opportunities. The City reserves all rights to determine the foregoing. 5. DIGITAL FORMS TO BE COMPLETED WITH EACH PROPOSAL Certification Vendor Drug-Free Workplace Offeror's Qualification Statement References Scrutinized Companies List E-Verify Compliance Sub-Contractor Form Firm's Primary Ownership Local Boynton Beach Preference Palm Beach Inspector General Acknowledgement Proposer Acknowledgement Sub-Consultant's Form if applicable 6. FORMS THAT MUST BE UPLOADED TO THE DOCUMENT UPLOAD SECTION Document Upload 1 A. Letter of Interest and B. Proposer's Qualifications: Company Culture/Structure and Experience Document Upload 2: C.Technical/Operational Proposal and Proposer's Qualification Statement(includes all items in Section V—Submission of Proposals Document Upload 3: D. Financial Proposal Requirements(includes all items requested in Section V—Submission of Proposals D.) Document Upload 4: E. Litigation Disclosure Requirement 'includes all items requested in Section V—Submission of Proposals E.) Document Upload 5. Non-Collusion Affidavit,Anti-Human Trafficking Affidavit, Scrutinized Companies, E-Verify Affidavits, Foreign Entity Affidavit, and Anti-Kickback Affidavit Document Upload 6: Sample of Certificate of Insurance per the Requirements Document Upload 7: Proof of State Certified or Professional Licenses Document Upload 8: Proof of Local Boynton Beach Business Status Document Upload 9: Optional others Proposer may want to include 7. PRICE PROPOSAL SHEET A separate document where Proposers will input the pricing. 8. AGREEMENT Proposer agrees that by submitting a proposal that is accepted by the City of Boynton Beach, a binding Agreement is formed in accordance with the City's terms, conditions, and specifications as set forth in the purchase order, unless otherwise agreed by the City and the Proposer. The Proposer certifies that the proposal has been made by an officer or employee having the authority to bind the Proposer. • Document Unload 1:A. Letter of Interest and B.Pr000ser's Qualifications:Company Culture/Structure and Experience- Document upload 1_Letter of Interest and B_Proposer Qualifications.pdf-Wednesday April 29, 2026 09:35:56 • Document Upload 2: C. Technical/Operational Proposal and Proposer's Qualification Statement(includes all items in Section V —Submission of Proposals-Document upload 2_C_Technical Operational Proposal and PROPOSERS QUALIFICATION STATEMENT.pdf-Wednesday April 29,2026 09:36:12 • Document Upload 3: D. Financial Proposal Reauirements(includes all items reauested in Section V—Submission of Proposals D.1-Document upload 3_PFM II Financials 2022_2023_2024_Credit Letter.pdf-Tuesday April 28,2026 09:35:37 • Document Upload 4: E. Litigation Disclosure Reouirement(includes all items reauested in Section V—Submission of Proposals -Document upload 4_LITIGATION AND LEGAL HISTORY DISCLOSURE REQUIREMENT.pdf-Tuesday April 28, 2026 09:35:22 • Document Upload 5. Non-Collusion Affidavit,Anti-Human Trafficking Affidavit. Scrutinized Companies, E-Verify Affidavits, Foreign Entity Affidavit. and Anti-Kickback Affidavit-Document upload 5_Required forms.pdf-Tuesday April 28, 2026 12:14:27 • Document Upload 6: Sample of Certificate of Insurance per the Requirements-Document upload 6_2025-2026 Statement and Evidence of Coverage_GL_PL_Cyber_PFMFA.pdf-Tuesday April 28,2026 09:35:06 • Document Upload 7: Proof of State Certified or Professional Licenses-Document upload 7_Licenses.pdf-Tuesday April 28, 2026 09:34:53 • Document Upload 8: Proof of Local Boynton Beach Business Status-Document upload 8_Proof of Local Boynton Beach Business Status—Not Applicable.pdf-Tuesday April 28,2026 12:02:17 • Document Upload 9: Optional others Proposer may want to include- Document upload 9_City of Boynton Beach Strategic P3 FA Services_Final Submitted by PFM Financial Advisors LLC.pdf-Wednesday April 29, 2026 09:37:30 • Additional Document(optional) Addenda & Declarations SCOPE OF WORK (SERVICES) RFP No.26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services(Consultant) GENERAL The City of Boynton Beach is procuring expert advisory services to support its Public-Private Partnership(P3)strategy.The selected Consultant will deliver independent financial analysis and structured advisory support to help the City evaluate, negotiate,and execute P3 initiatives with confidence and fiscal responsibility. The Consultant is expected to be fully self-sufficient—providing all necessary personnel, oversight, expertise, and resources— and to operate as a trusted independent voice throughout the process. The City retains full authority to negotiate contract terms, conditions, and fee structures that best serve the interests of Boynton Beach and its residents 2 SCOPE OF SERVICES The selected Consultant(s)shall provide independent financial advisory and analytical services to assist the City in evaluating and structuring Public-Private Partnership(P3)proposals and initiatives. Services may include financial feasibility analysis, financial modeling, risk evaluation, and compliance review to support informed decision-making by City leadership. The selected Consultant(s)shall provide as-needed,task-order-based financial advisory services, including but not limited to: • Statutory compliance with§255.065 • Financial modeling and feasibility on P3 Projects • Risk analysis and allocation • Proposal evaluation support • Negotiation and transaction support • Required reporting and deliverables can be flexed based on P3 project. • Any other service that is needed for the evaluation of a P3 project. The successful proposer will be referred to as Consultant. 3. DETAILED TASKS/RESPONSIBILITIES At a minimum,the Consultant shall perform the following responsibilities: 4 Financial Feasibility Analysis • Conduct comprehensive financial feasibility reviews of proposed P3 projects submitted to the City. • Evaluate projected project costs, revenue assumptions,operating expenses, and lifecycle costs. • Assess the financial sustainability of proposed project structures under various economic scenarios. • Identify potential financial risks and opportunities associated with the proposed partnership structure. B. Financial Modeling and Scenario Analysis • Develop and/or review detailed financial models related to proposed P3 projects. • Validate financial assumptions provided by proposers, including capital structure, debt financing,operating costs, escalation factors, and revenue forecasts. • Perform sensitivity analysis and scenario modeling to evaluate financial viability under varying conditions. • Provide independent verification of financial projections submitted by private entities. c. Review of Public-Private Partnership Structures • Analyze proposed partnership structures, including concession agreements, lease agreements,design-build-finance-operate- maintain (DBFOM)structures, or other P3 delivery models. • Evaluate allocation of financial risk between the public and private sectors. • Assess financial terms, including revenue sharing, availability payments,financing mechanisms, and return on investment structures. D. Compliance and Regulatory Review • Review submissions to ensure compliance with applicable federal, state, and local statutes governing public-private partnerships. • Evaluate financial disclosures,funding structures, and financial guarantees to confirm compliance with regulatory and municipal requirements. • Identify any financial compliance issues or potential legal/contractual risks associated with proposed P3 structures. E. Due Diligence and Financial Validation • Perform financial due diligence on proposers and development teams, including review of financial capacity,funding sources, and creditworthiness where applicable. • Verify financial documentation,funding commitments, and economic assumptions included in submissions. • Provide recommendations regarding the financial credibility and capability of proposing entities. F. Value-for-Money (VfM) and Comparative Analysis • Conduct Value-for-Money analyses comparing P3 delivery models with traditional public procurement approaches when requested by the City. • Evaluate long-term financial implications for the City, including lifecycle cost impacts and potential fiscal exposure. • Provide comparative assessments of alternative financial structures or proposals. G. Advisory Services and Strategic Recommendations • Provide professional recommendations regarding financial structure, fiscal impacts, and risk mitigation strategies related to P3 proposals. • Assist City staff in identifying financially advantageous partnership structures. • Provide guidance on best practices in municipal P3 financing and financial structuring. H Support During Negotiations • Provide financial advisory support during negotiations with private sector partners when requested by the City. • Assist in evaluating revised financial proposals and financial terms during negotiations. • Provide recommendations regarding financial safeguards and protections for the City. I. Ongoing Advisory Services • Provide ongoing financial advisory support related to P3 initiatives as requested by the City. • Assist in evaluating amendments,financial restructuring,or changes to proposed partnerships during project development. J. Conflict of Interest and Independence Requirements To maintain the integrity of the evaluation process,the Consultant shall operate as an independent financial advisor to the City and must disclose any actual or potential conflicts of interest. • The Consultant shall disclose any existing or past financial,contractual,or advisory relationships with any proposer,developer, investor,lender,contractor,or affiliated entity involved in a P3 submission to the City. • The Consultant shall certify that it does not currently represent,and will not represent during the term of the engagement,any private entity submitting or planning to submit a proposal related to the City's P3 project. • The Consultant shall notify the City immediately if a potential conflict of interest arises during the course of the engagement. • The City reserves the right to determine whether a disclosed relationship constitutes a conflict that would impair the Consultant's independence. • The Consultant shall provide advisory services solely in the best interest of the City and shall not participate in any activity that could reasonably create the appearance of bias or influence. K. Independent Financial Advisory Certification The Consultant shall serve exclusively as the City's independent financial advisor and shall provide objective,professional financial analysis and recommendations. • The Consultant shall certify that its financial analyses,feasibility evaluations,and modeling reviews are conducted independently and without influence from any proposer or private partner. • All financial models,assumptions,and analyses provided by the Consultant must be transparent,documented,and reproducible. • The Consultant shall maintain complete documentation of methodologies,financial assumptions,and analytical approaches used in evaluating P3 submissions. • Upon request,the Consultant shall provide the City with all underlying financial models,spreadsheets,and supporting documentation necessary for the City to independently review the analysis. • The Consultant shall provide recommendations that prioritize the long-term fiscal interests and risk protection of the City. L. Financial Disclosure and Due Diligence Requirements for P3 Submissions The Consultant shall assist the City in evaluating the financial credibility and financial capacity of proposers by reviewing financial disclosures and conducting appropriate due diligence. • The Consultant shall review financial statements,financing commitments,funding structures,and capital sources submitted by proposers. • The Consultant shall verify the financial capability of proposers to deliver,finance,operate,and maintain the proposed project. • The Consultant shall evaluate the financial strength,creditworthiness,and capitalization of development teams, including key project partners and guarantors. • The Consultant shall identify any material financial risks,funding gaps,or unrealistic financial assumptions contained in P3 submissions. • The Consultant shall provide recommendations regarding the adequacy of proposed financial guarantees,security instruments, or performance assurances intended to protect the City. 4. PERFORMANCE STANDARDS CONSULTANT shall be fully responsible for performing all the work necessary to meet City standards in a safe, neat, and good workmanlike manner, using only generally accepted methods in carrying out the work and complying with all federal and state laws and all ordinances and codes of the City relating to such work. Failure on the part of the submitting Proposer to comply with the conditions,terms, specifications, and requirements of the RFP shall be cause for cancellation of the RFP award, notwithstanding any additional requirements enumerated in the Special Conditions herein relating to performance-based contracting. The City may, by written notice to the Responding Firm, terminate the Agreement for failure to perform. The date of termination shall be stated in the notice.The City shall be the sole judge of nonperformance. 5. REPORTING AND PRESENTATION REQUIREMENTS • Prepare written financial advisory reports summarizing findings, analyses, and recommendations. • Develop financial summaries and executive-level reports suitable for City leadership and elected officials. • Present findings to City staff, advisory committees, or the City Commission as requested. 6. MEETINGS AND COORDINATION Facilitate monthly C-suite briefings to assess the current standing of all active projects, ensuring alignment with the City's strategic priorities and financial objectives. These sessions will provide senior leadership with a comprehensive performance review, surfacing critical risks,emerging opportunities, and key milestones requiring executive attention. Each meeting will drive accountability across project stakeholders, enabling informed, data-driven decisions that keep initiatives on schedule,within budget, and positioned for long-term success. 7. EXPECTED TIMELINE BY THE CITY The City would like plans to award this contract in Spring 2026. 8 TERM OF PROFESSIONAL SERVICES CONSULTANT CONTRACT The City intends to issue a term contract for these professional services for Three-years with one two-year renewal. 9 AGREEMENT TERM AND OPTIONAL AMENDMENT EXTENSION The City reserves the right to extend this Agreement for a period not to exceed six(6)months in order to ensure uninterrupted services while a new contract is solicited, evaluated, and/or awarded. Such extension shall be effectuated only by mutual agreement, evidenced through a written Amendment notice executed by the Consultant and filed with the City's Procurement Department,without the need for further City Commission action. This temporary extension shall be deemed an additional term of the Agreement and shall obligate the Consultant to continue providing services in accordance with all existing terms and conditions. 10. CITY RESPONSIBILITY The City shall provide reasonable cooperation, information, and access necessary for the Consultant to perform the services described in this solicitation. The City's responsibilities may include, but are not limited to, the following: A. Designated Project Manager The City shall designate a Project Manager who will serve as the primary point of contact between the City and the Consultant.The Project Manager will coordinate communications,facilitate access to City staff and information, and review deliverables. B Access to Information and Documentation The City shall provide the Consultant with available information necessary to perform the requested services, including but not limited to: • Relevant project documentation • Financial and budget information • Capital Improvement Program (CIP)data • Existing studies, reports,or feasibility analyses • Applicable City policies,ordinances, and regulations • Information submitted by P3 proposers The City does not guarantee the completeness or accuracy of all information provided, but will make reasonable efforts to supply available data. A. Coordination with City Departments The City will facilitate coordination with appropriate departments and staff necessary for project evaluation, including but not limited to Finance, Procurement, Legal, Engineering, Planning, and other relevant departments. A. Review and Feedback on Deliverables B. Decision-Making Authority c. Meeting and Presentation Coordination D. Access to Stakeholders E Procurement and Contract Administration F Inspection and Acceptance of Work Produced G. Performance Review Evaluation The City shall review reports,financial models, and other deliverables prepared by the Consultant and provide timely feedback, comments,or direction necessary for the completion of the work. The City retains full decision-making authority regarding the evaluation, acceptance, rejection, or negotiation of any P3 proposal or project structure. Recommendations provided by the Consultant shall be advisory in nature. The City may request the Consultant to attend meetings with City staff, advisory committees, or the City Commission. The City will coordinate scheduling and provide reasonable notice for such meetings. When necessary,the City may facilitate communication between the Consultant and relevant stakeholders, including City staff, external advisors, and proposers, subject to procurement and legal requirements. All procurement activities, communications with proposers, and contract administration activities shall remain under the authority of the City in accordance with applicable procurement policies,ordinances, and regulations. The City has the right to review, require correction, if necessary,and accept the work produced by the Consultant. Such review(s)shall be carried out within thirty(30)calendar days to not impede the work of the Consultant. Any product of work shall be deemed accepted as submitted if the City does not issue written comments and/or required corrections within thirty(30) calendar days from the date of receipt of such product from the Consultant. The Consultant shall make any required corrections promptly at no additional charge and return a revised copyof the work requested to the City within seven (7)business days of notification or a later date if extended by the City. Failure by the Consultant to proceed with reasonable promptness to make necessary corrections shall be a default. If the Consultant's submission of corrected work remains unacceptable, the City may terminate the resulting contract(or the task order involved)or reduce the contract price or cost to reflect the reduced value of services received. The awarded Consultant may receive a performance evaluation by City Staff during the course of the term contract. The City's Project Manager or Contract Administrator shall complete performance evaluations at the first year of the contract or more frequent intervals as required by the Agreement and at the time of the end of the term contract. Should the services provided by the Consultant fail to meet the expectations of the City's Project Manager,the Consultant shall have a period of ten (10)working days from the date notice is given to the Consultant by the City to correct all deficiencies in the under the contract. All corrections shall be made to the satisfaction of the City Project Manager. Inability to correct all deficiencies within the specified ten days shall be good and sufficient cause to immediately terminate the contract without the City being liable for any and all future obligations under the Agreement as determined by the City at its sole discretion. The City, in its judgment, may elect to compensate the Consultant for any accepted work product through the date of termination of an authorized Purchase Order, provided it is in a form sufficiently documented and organized to allow subsequent utilization in completing the work product. The City's Project Manager shall contact a Procurement representative to advise of any performance issues so that Procurement can assist with bringing performance back to acceptable standards. It is equally important to complete the "Consultant Performance Evaluation Form whenever any of the performance indicators are either"marginal"or"unsatisfactory". In the event the Average Rating Score is"marginal"or"unsatisfactory"even after reasonable efforts have been taken by the City to improve performance,the City's Project Manager shall coordinate with Procurement to determine what action needs to be taken under the circumstances. The Contract Performance Evaluation Form enclosed within this document illustrates a sample evaluation form to be used by the City for the various types of services provided by the City. The Consultant shall not communicate directly with proposers or private entities regarding P3 submissions unless authorized by the City. THE REMAINDER OF THIS PAGE WAS LEFT BLANK INTENTIONALLY STANDARD GENERAL TERMS AND PROVISIONS STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services(Consultant) RFP No.26-053R Unless otherwise agreed to by the City of Boynton Beach("City"),the following Standard Terms and Conditions are applicable to this solicitation and the resulting Agreement. The term"vendor,"as used below, may collectively apply to vendors, bidders, proposers, consultants, contractors, subcontractors, and subconsultants. 1. DISPUTES In case of any doubt or difference of opinion as to the items to be furnished hereunder,the decision of the City Manager shall be final and binding on both parties. 2. COMPLIANCE WITH OCCUPATIONAL SAFETY AND HEALTH: The Proposer certifies that all material, equipment, etc., contained in this proposal meets all O.S.H.A. requirements. Proposer further certifies that if awarded as the Consultant, and the material equipment, etc. delivered is subsequently found to be deficient in any O.S.H.A. requirement in effect on the date of delivery, all costs necessary to bring the materials, equipment, etc., into compliance with the aforementioned requirements shall be borne by the Proposer. Proposer certifies that all employees, subcontractors, agents. etc. shall comply with all O.S.H.A. and State safety regulations and requirements. 3. PALM BEACH COUNTY INSPECTOR GENERAL: The Proposer and, if awarded Consultant, is aware that the Inspector General of Palm Beach County has the authority to investigate and audit matters relating to the negotiation and performance of any Agreement resulting from this solicitation and, in furtherance thereof, may demand and obtain records and testimony from the Consultant and its sub-consultant and lower-tier sub-consultants. The Consultant understands and agrees that in addition to all other remedies and consequences provided by law, the failure of the Consultant or its sub-consultants or lower-tier sub-consultants to fully cooperate with the Inspector General when requested may be deemed by the municipality to be a material breach of this Agreement justifying its termination. 4. OTHER AGENCIES Any Agreement(s)resulting from this RFP and from this submitted proposal may, upon mutual agreement, permit any municipality or other governmental agency to participate in the Agreement under the same prices,terms, and conditions if agreed to by both parties. It is understood that at no time will any city, county, municipality, or other agency be obligated to place an order for any other city, county, municipality, or agency, nor will any city,county municipality, or agency be obligated for any bills incurred by any other city, county, municipality, or agency. Further, it is understood that each agency will issue its own purchase order or contract to the awarded Proposer(s). 5. VENUE AND GOVERNING LAW: Any and all legal actions arising from or necessary to enforce this solicitation and resulting Agreement will be held exclusively in Palm Beach County and shall be interpreted according to the laws of Florida. 6. NON-DISCRIMINATION & EQUAL OPPORTUNITY EMPLOYMENT The City is committed to assuring equal opportunity in awarding orders/contracts and complies with all laws prohibiting discrimination. During the performance of the Agreement,the Consultant and its sub-consultants shall not discriminate against any employee or applicant for employment because of race, color, sex, including pregnancy, religion, age, national origin, ancestry, marital status, political affiliation,familial status, sexual orientation, gender identity, expression, or disability if qualified. The Consultant will take affirmative action to ensure that employees and those of its sub-consultants are treated during employment,without regard to their race, color,sex, including pregnancy, religion, age, national origin, ancestry, marital status, political affiliation,familial status, sexual orientation, gender identity, expression, or disability if qualified. Such actions must include, but not be limited to, the following: employment, promotion; demotion or transfer; recruitment or recruitment advertising, layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. The Consultant and its sub-consultants shall agree to post in conspicuous places, available to its employees and applicants for employment, notices to be provided by the contracting officer setting forth the provisions of this nondiscrimination clause. The Consultant further agrees that they will ensure that all sub-consultants, if any,will be made aware of and will comply with this nondiscrimination clause. The Consultant understands and agrees that a material violation of this section shall be considered a material breach of this solicitation and the resulting agreement/contract and may result in termination of the agreement/contract, disqualification,or debarment of the company from participating in City contracts, or other sanctions. 7. INDEPENDENT CONTRACTOR RELATIONSHIP: The Proposer and, if awarded Consultant, is, and shall be, in the performance of all work, services, and activities under this solicitation and the resulting Agreement, an independent Contractor and not an employee or agent of the City.All persons engaged in any of the work or services performed pursuant to the Agreement shall, at all times and in all places, be subject to the Consultant's sole direction, supervision, and control.The Consultant shall exercise control over the means and manner in which it and its employees perform the work, and in all respects, the Consultant's relationship, and the relationship of its employees, to the City shall be that of an independent contractor and not as employees or agents of the City. 8. OMISSION OF DETAILS Omission of any essential details from the terms or specifications contained herein will not relieve the responding Firm of supplying such product(s)or service as specified. 9. LEGAL EXPENSES: The City shall not be liable to a Proposer for any legal fees, court costs, or other legal expenses arising from the interpretation or enforcement of the Agreement, or any other matter generated by or relating to the Agreement. 10. NO THIRD-PARTY BENEFICIARIES: No provision of this RFP or agreement/contract to follow with Consultant is intended to, or shall be construed to, create any third-party beneficiary or to provide any rights to any person or entity not a party to the agreement/contract, including but not limited to any citizen or employees of the City and/or Proposer. 11. DISCRIMINATORY VENDOR LIST An entity or affiliate who has been placed on the discriminatory vendor list may not: obtain an agreement/contract to provide goods or services to a public entity; construct or repair of a public building or public work; lease real property to a public entity;award or perform work as a vendor, supplier, or vendor under agreement/contract with any public entity; nor transact business with any public entity. The Florida Department of Management Services is responsible for maintaining the discriminatory vendor list and intends to post the list on its website. Questions regarding the discriminatory vendor list may be directed to the Florida Department of Management Services, Office of Supplier Diversity at(850)487-0915. 12. NON-EXCLUSIVE As may be applicable,the City reserves the right to acquire some or all of these goods and services through a State of Florida contract pursuant to the City's Procurement Policy, provided the State of Florida contract offers a lower price for the same goods and services. This reservation applies both to the initial award of this solicitation and to acquisition after an agreement/contract may be awarded. Additionally, the City reserves the right to award other agreements for goods and services falling within the scope of this solicitation and resultant Agreement when the specifications differ from this solicitation or resultant Agreement,or for goods and services specified in this solicitation when the scope substantially differs from this solicitation or resultant Agreement. 13. BUSINESS INFORMATION If a proposing firm is a Joint Venture for the goods/services described herein, the Proposer shall, upon request of the City, provide a copy of the Joint Venture Agreement signed by all parties. 14. FEDERAL AND STATE TAX: The City of Boynton Beach is exempt from Federal and state taxes. 15. ON PUBLIC ENTITY CRIMES All Request for Proposals as defined by Section 287.012(11), Florida Statutes, requests for proposals as defined by Section 287.012(16), Florida Statutes, and any contract document described by Section 287.058, Florida Statutes, shall contain a statement informing persons of the provisions of paragraph (2)(a)of Section 287.133, Florida Statutes,which reads as follows: "A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crime may not submit a proposal on a contract or provide any goods or services to a public entity, may not submit a proposal on a contract with a public entity for the construction or repair of a public building or public work, may not submit proposals on leases of real property to a public entity, may not be awarded or perform work as a contractor, supplier, subcontractor, vendor, or consultant under a contract with any public entity, and may not transact business with any public entity in excess of the threshold amount provided in Section 287.017,for CATEGORY TWO for a period of 36 months from the date of being placed on the convicted vendor list". 16. PROHIBITED TELECOMMUNICATIONS EQUIPMENT Proposer represents and certifies that Proposer and all Sub-consultants do not use any equipment, system, or service that uses covered telecommunications equipment or services as a substantial or essential component of any system or as critical technology as part of any system, as such terms are used in 48 CFR§§52.204-24 through 52.204-26. Proposer represents and certifies that Proposer and all Sub-consultants shall not provide or use such covered telecommunications equipment, system, or services during the Term. 17, PROHIBITION AGAINST CONSIDERING SOCIAL, POLITICAL, OR IDEOLOGICAL INTERESTS IN GOVERNMENT CONTRACTING Proposers are hereby notified of the provisions of section 287.05701, Florida Statutes, as amended,that the City will not request documentation of or consider a Proposer's social, political, or ideological interests when determining if the Proposer is a responsible Consultant. Proposers are further notified that the City's governing body may not give preference to a Proposer based on the Proposer's social, political, or ideological interests. 18. RIGHTS IN DATA Except if otherwise agreed to in writing,the City shall have exclusive ownership of, all proprietary interest in, and the right to full and exclusive possession of all information, materials, and documents discovered or produced by Proposer pursuant to the terms of this solicitation, including but not limited to reports, memoranda or letters concerning the research and reporting tasks required. 19. DOCUMENTATION OF COSTS All costs submitted shall be supported by properly executed payrolls,time records, invoices, vouchers, or other official documentation evidencing in proper detail the nature and propriety of the charges. All checks, payrolls, invoices, contracts, vouchers, orders,or other accounting documents pertaining in whole or in part to the resulting contract/agreement shall be clearly identified and regularly accessible and provided to the City upon request. 20. DRUG-FREE WORKPLACE The Consultant shall implement and maintain a drug-free workplace program of at least the following items: A. Publish a statement notifying employees that the unlawful manufacture, distribution, dispensing, possession, or use of a controlled substance is prohibited in the workplace and specifying the actions that will be taken against employees for violations of such prohibition. A. Inform employees about the dangers of drug abuse in the workplace,the Proposer's policy of maintaining a drug-free workplace, any available drug counseling,rehabilitation,and employee assistance programs,and the penalties that may be imposed upon employees for drug abuse violations. B. Give each employee engaged in providing the services that are under contract a copy of the statement specified in Item A above. C. In the statement specified in Item A above, notify the employees that,as a condition of providing the services that are under contract,the employee will abide by the terms of the statement and will notify the Proposer of any conviction of,or plea of guilty or nolo contendere to,any violation of Chapter 893, Florida Statutes,or of any controlled substance law of the United States or any state,for a violation occurring in the workplace no later than five(5)calendar days after such conviction or plea. D. Impose a sanction on or require satisfactory participation in a drug abuse assistance or rehabilitation program, if such is available in the employee's community,for any employee who is so convicted or so pleads. E. Make a good faith effort to continue to maintain a drug-free workplace through the implementation of Section 287.087, Florida Statutes ENDORSEMENTS No endorsements by the City of the goods and/or services will be used by the Proposer in any way, manner,or form 21. PROHIBITED TELECOMMUNICATIONS EQUIPMENT Proposer represents and certifies that Proposer and all Sub-consultants do not use any equipment,system,or service that uses covered telecommunications equipment or services as a substantial or essential component of any system or as critical technology as part of any system, as such terms are used in 48 CFR§§52.204-24 through 52.204-26. Proposer represents and certifies that Proposer and all Sub-consultants shall not provide or use such covered telecommunications equipment,system,or services during the Term. 22. PROHIBITION AGAINST CONSIDERING SOCIAL, POLITICAL,OR IDEOLOGICAL INTERESTS IN GOVERNMENT CONTRACTING Proposers are hereby notified of the provisions of section 287.05701, Florida Statutes,as amended,that the City will not request documentation of or consider a Proposer's social, political,or ideological interests when determining if the Proposer is a responsible Consultant. Proposers are further notified that the City's governing body may not give preference to a Proposer based on the Proposer's social,political,or ideological interests. 23. RIGHTS IN DATA Except if otherwise agreed to in writing,the City shall have exclusive ownership of,all proprietary interest in,and the right to full and exclusive possession of all information,materials,and documents discovered or produced by Proposer pursuant to the terms of this solicitation, including but not limited to reports, memoranda or letters concerning the research and reporting tasks required. 24.DOCUMENTATION OF COSTS All costs submitted shall be supported by properly executed payrolls,time records,invoices,vouchers,or other official documentation evidencing in proper detail the nature and propriety of the charges.All checks, payrolls, invoices,contracts,vouchers,orders,or other accounting documents pertaining in whole or in part to the resulting contract/agreement shall be clearly identified and regularly accessible and provided to the City upon request. 25. PUBLIC RECORDS Sealed documents received by the City in response to a Request for Proposals are exempt from public records disclosure until thirty (30)calendar days after the opening of the RFP unless the City announces intent to award sooner, in accordance with Florida Statutes 119.071. The Consultant agrees that copies of any and all property,work product,documentation, reports,computer systems and software, schedules,graphs,outlines, books, manuals, logs,files,deliverables, photographs,videos,tape recordings,or data relating to the Agreement which have been created as a part of the vendor's services or authorized by the City as a reimbursable expense,whether generated directly by the Consultant,or by or in conjunction or consultation with any other party whether or not a party to the Agreement,whether or not in privity of contract with the City or the Consultant,and wherever located shall be the property of the City. Any material submitted in response to this solicitation is considered a public document in accordance with Section 119.07, F.S. All submitted information that the responding Proposer believes to be confidential and exempt from disclosure (i.e., a trade secret or as provided for in Section 119.07, Chapter 688, and Section 812.081, F.S.) must be specifically identified as such. Upon receipt of a public records request for such information, a determination will be made as to whether the identified information is,in fact,confidential. The City is a public agency subject to Chapter 119, Florida Statutes. The Consultant shall comply with Florida's Public Records Law. Specifically, the Consultant shall: A. Keep and maintain public records required by the City to perform the service. B. Upon request from the City's custodian of public records, provide the City with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in chapter 119, Fla. Stat. or as otherwise provided by law. C. Ensure that public records that are exempt or that are confidential and exempt from public record disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and, following completion of the Agreement, Consultant shall destroy all copies of such confidential and exempt records remaining in its possession once the Consultant transfers the records in its possession to the City; and D. Upon completion of the Agreement, Consultant shall transfer to the City, at no cost to the City, all public records in Consultant's possession.All records stored electronically by consultant must be provided to the City, upon request from the City's custodian of public records, in a format that is compatible with the information technology systems of the City. E. Failure of the Consultant to comply with the requirements of this Section, and other applicable requirements of state or federal law, shall be a material breach of the resulting Agreement. The City shall have the right to exercise all remedies available to it for breach of agreement/contract, including but not limited to,the right to terminate for cause. IF THE CONSULTANT HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE CONSULTANT'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS AGREEMENT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS: CITY CLERK'S OFFICE 100 EAST OCEAN AVENUE BOYNTON BEACH, FLORIDA, 33435 561-742-6060 CityClerk@bbfl.us 26. SOVEREIGN IMMUNITY Nothing contained herein is intended to serve as a waiver of sovereign immunity by the City or as a waiver of limits of liability or rights the City may have under the doctrine of sovereign immunity or under Section 768.28, Florida Statutes. THE REMAINDER OF THE PAGE IS INTENTIONALLY LEFT BLANK SPECIAL PROVISIONS/SPECIAL CONDITIONS RFP No. 26-053R STRATEGIC P3 FINANCIAL ADVISORY SERVICES Professional Services (Consultant) 1. ENUMERATION OF PRECEDENCE OF CONTRACT DOCUMENTS If any portion of the Contract Documents appears to conflict with any other portion,the various documents comprising the Contract Documents shall govern in the following order of precedence: The Fully Executed Agreement The Scope of Work(Services) The Special Provisions/Specials Conditions The Instructions to Proposers Standard General Terms and Conditions Proposer's Proposal 2. COMMUNICATION RESTRICTIONS AND PROCUREMENT INTEGRITY To preserve the integrity,fairness, and transparency of the procurement and evaluation process,the Consultant shall adhere to strict communication protocols regarding Public-Private Partnership(P3) submissions. The Consultant shall not communicate directly or indirectly with any proposer, developer, investor, contractor, lender, or other private entity associated with a P3 submission, unless such communication is expressly authorized in writing by the City's designated Project Manager or Procurement Division. All communications related to proposals,financial information, project structure, or evaluation matters shall be conducted solely through the City's authorized representatives to ensure compliance with applicable procurement procedures and to maintain an equitable and impartial evaluation process. The Consultant shall also comply with the following requirements: • The Consultant shall avoid any ex-parte communications with proposers or their representatives regarding any P3 project under evaluation. • The Consultant shall immediately disclose to the City any attempted contact or communication from proposers or their representatives related to the solicitation or evaluation process. • The Consultant shall not provide advice, financial guidance,or strategic information to any private entity regarding a P3 submission to the City during the term of the engagement. • The Consultant shall ensure that all employees, subcontractors, and affiliated advisors engaged in this project adhere to the same communication restrictions. • Any violation of these requirements may be considered a material breach of contract and may result in termination of the engagement and other remedies available to the City. Nothing in this section shall prevent the Consultant from participating in meetings,workshops, interviews, or discussions with proposers when such participation is coordinated and authorized by the City as part of the formal evaluation or negotiation process. 3. CHANGES TO SCOPE AND ADDITIONAL SERVICES Either party may request modifications to the Scope of Work outlined in Section IV, including increases,decreases, or other adjustments to the services to be provided under this Agreement. All such modifications must comply with the City's Code of Ordinances and be memorialized in a written amendment executed by both parties with the same formality, equality, and dignity as this Agreement. No deviation from the terms of this Agreement—including the initiation of any additional or extra work— shall be authorized or commence prior to such execution. The Consultant shall continue performing all authorized services during the pendency of any change order request.Any services rendered beyond the authorized scope of this Agreement—without prior authorization by written amendment or approved change order—are performed solely at the Consultant's risk. In no event shall the Consultant be compensated for any services not described herein or authorized by a separate written amendment or change order. The City reserves the right to acquire additional hours or quantities of the services requested in this solicitation at the unit prices proposed herein. If a proposer is unable or unwilling to extend pricing beyond the specified quantities,the price proposal sheet must be clearly noted: "PROPOSAL IS FOR SPECIFIED QUANTITY ONLY." 4. PERFORMANCE DURING EMERGENCY The Consultant agrees and promises that immediately preceding, during, and after a public emergency, disaster, hurricane, flood, or act of God,the City shall be given"first priority"for all goods and/or services under the Agreement. The Consultant agrees to provide all goods and/or services to City immediately preceding, during, and after a public emergency, disaster, hurricane,flood,or act of God, at the terms, conditions, and prices as provided in this solicitation on a"first priority"basis. The Consultant shall furnish a 24-hour phone number to the City. Failure to provide the goods and/or services to the City on a first priority basis immediately preceding, during, and after a public emergency, disaster, hurricane,flood,or act of God, shall constitute a breach of Agreement and subject the Consultant to sanctions from doing further business with the City. I/We have the authority to bind the Company and submit this Bid on behalf of the Bidder. - Sergio Masvidal, Managing Director, PFM Financial Advisors LLC The bidder shall declare any potential or actual conflict of interest that could arise from Bidding on this Bid. Do you have a conflict of interest? Yes No The Bidder acknowledges and agrees that the addendum/addenda below form part of the Bid Document Please check the box in the column"I have reviewed this addendum"below to acknowledge each of the addenda. I have reviewed the below addendum and File Name Pages attachments (if applicable) Addenda No. 1 Wed April 22 2026 05:10 PM pfm City of Boynton Beach , FL Request for Proposal for Strategic P3 Financial Advisory Services RFP# 26-053R GN? Y 0k Q t 411. s4 April 29, 2026 PFM Financial Advisors LLC 2222 Ponce De Leon 200 South Orange Avenue 3rd FL Suite 760 Coral Gables, FL 33134 Orlando, FL 32801 Sergio Masvidal James "Jay" Glover Managing Director Managing Director Email: masvidals©pfm.com Email: gloverj©pfm.com Office: 786.671.7480 Office: 407.406.5760 Fax No.: N/A Fax No.: 407.648.1323 April 29, 2026 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services RFP# 26-053R Table of Contents I. Technical Proposal 1 Minimum Qualifications 1 B. Proposer's Qualifications: Company Culture/Structure and Experience 6 C. Technical/Operational Proposal 13 D. Financial Proposal Requirements 32 E. Litigation Disclosure Requirement 33 F. References 34 Exceptions by Proposer 35 Sub-Consulting 36 Digital Forms to be Completed with each Proposal 36 Forms that must be uploaded to the document upload section 36 Price Proposal Sheet 37 PFM Financial 2222 Ponce De Leon Blvd. 786.671.7480 Advisors LLC 3rd Floor pfm.com Coral Gables, Florida 33134 ABOUT PFM PFM is the marketing name for a group of affiliated companies providing a range of services. All services are provided through separate agreements with each company. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation. Financial advisory services are provided by PFM Financial Advisors LLC, a registered municipal advisor with the Securities and Exchange Commission (SEC)and the Municipal Securities Rulemaking Board (MSRB) under the Dodd-Frank Act of 2010. Swap advisory services are provided by PFM Swap Advisors LLC which is registered as a municipal advisor with both the MSRB and SEC under the Dodd-Frank Act of 2010, and as a commodity trading advisor with the Commodity Futures Trading Commission. Additional applicable regulatory information is available upon request. Consulting services are provided through PFM Group Consulting LLC. PFM's financial modeling platform for strategic forecasting is provided through PFM Solutions LLC. For more information regarding PFM's services or entities, please visit www.pfm.com. April 29, 2026 Andrew Rozwadowski City of Boynton Beach Procurement Department 1481 West 15th Street Riviera Beach, FL 33404 RE: Request for Proposal for Strategic P3 Financial Advisory Services— RFP# 26-053R Dear Ms. Williams: PFM Financial Advisors LLC (PFM) is pleased to submit our proposal to serve as a strategic P3 Advisor to the City of Boynton Beach (the City). As the top ranked financial advisor in Florida and nationally, as well as serving as the City's financial advisor since 2013, we pf m believe that PFM is the optimal choice for the City's P3 Advisor. We prioritize Florida and provide services from our local offices in Coral Gables and Orlando. Our extensive experience working with you, your peer cities, and other municipalities in South Florida and our significant resources enable us to serve as a proactive extension of your staff. As a 2222 Ponce De Leon Blvd. P3 advisor, we have worked or are currently working on several projects similar to those 3`°Floor Coral Gables, FL 33134 under consideration by the City, such as a municipal complex redevelopment (Fort 786.671.7480 Lauderdale, Miami), Hotel and Housing redevelopment (Miami Beach, Pompano Beach), affordable housing (Palm Beach County, Miami), and real estate and economic 200 South Orange Avenue redevelopment (Vero Beach, Port St. Lucie, Riviera Beach). Suite 760 Orlando, Florida 32801 407.648 2208 Team Overview. PFM's roots in the municipal finance industry go back over 50 years.' As a firm that focuses on strategic insight and forward-thinking execution, we understand the pfm.com importance of a strong partnership. Our team is dedicated to delivering innovative and results-driven solutions, ensuring that your objectives are met with precision and efficiency. We believe that our deep industry knowledge combined with our local presence positions us to provide tailored expertise that no other firm offers. PFM's team includes dedicated Florida municipal and P3 experience with the resources and expertise of a large firm. Sergio Masvidal, Managing Director, who leads PFM's coverage of South Florida projects across all sectors,will serve as day-to-day contact and ensure that Riviera Beach is a firm-wide priority client. Sergio will have the full breadth of PFM's P3 and municipality groups including Jay Glover, Managing Director, Ryan Conway, Managing Director, Kevin Plenzler, Director in PFM's Real Estate practice, Scott Shearer, Managing Director leading PFM Utility P3 practice, Pete Varona, Senior Managing Consultant, and Alex Theissen, Director in PFM's P3 practice. Alternative Delivery and P3 Experience. PFM has worked with municipal clients on alternative delivery or P3 implementation on a wide variety of asset types. More importantly to the City, PFM views each project holistically. Unlike traditional P3 advisors, PFM evaluates multiple project delivery methods and custom-tailor's solutions for our issuer clients to meet the City's objectives. We have applied our methodology to various projects, including, but are not limited to: utility concessions, commercial office, retail, athletic facilities, hospitality, parking, and market rate, workforce, and affordable housing. PFM has clients throughout the United States and many within Florida to which we have provided this expertise. Further information and case studies are provided in section I. Public Financial Management, Inc. (PFM, Inc.)was founded in 1975 and as of June 1, 2016, the registered municipal advisory services historically offered through former affiliate PFM,Inc.are now offered through PFM Financial Advisors LLC(PFM) City of Boynton Beach 110 April 29, 2026 Page 2 Select PFM Florida Municipal P3 Clients2 Ft. Lauderdale West Palm Miami Beach St. Petersburg Beach Vero Beach Daytona Delray Beach Jacksonville Beach Dania Pompano Homestead Port St. Lucie Miami Boca Raton North Port Alachua County Project Understanding Our proactive approach and market presence both nationally and locally means we anticipate project needs in advance.We work to create a strong partnership with our clients which enables us to assist the City with specific requests to potential private partners, as the more specific the request is the more likely the City is to receive proposals that match its objectives. Additionally, we view plans of finance through a broad lens and utilize our market experience to craft strategies most applicable to the project and the public sector partner. We leverage data-driven analysis to optimize performance and drive long- term success for our governmental partners. PFM is experienced in providing the full scope of P3 services for projects, including economic forecasting,cash flow modeling, ROI and VfM calculations, project and participant qualifications, and can deliver the scope necessary for the City to properly evaluate opportunities. Value Proposition. PFM has ranked as the#1 ranked financial advisor in the country for the last 31 years and in Florida for the last 26 years. The depth of our expertise in the municipal sector complements our experience with P3 and alternative delivery projects. Our public sector clients have relied on PFM for sound financial advice over the last three decades. We propose that this comprehensive understanding of the sector means that we can deliver the best value to the public partner. We do not believe in innovation for the sake of innovation. We work with our public sector partners to ensure that the objectives are priority and not driven towards a specific outcome for the sake of innovation. Our value proposition resides in the strength of our firm, our long history supporting the public sector, and the technical expertise we have amassed over the last five decades. We are prepared and enthusiastic about the opportunity to provide P3 Advisory Services for the City. We are ready to start today! Sincerely, PFM Financial Advisors LLC n If4 Sergio Masvidal Ja es "Jay" Glover Managing Director Managing Director 786-671-7480/masvidals( ofm.com 407-406-5760/aloveri(a ofm.com 2222 Ponce De Leon Blvd., 3rd Floor 200 S. Orange Avenue, Suite 760 Coral Gables, FL 33134 Orlando, FL 32801 'Select client list as of March 15,2026,is for informational purposes only and does not represent an endorsement or testimonial by clients of PFM's financial advisory services. I. Technical Proposal Minimum Qualifications Respondents must demonstrate the following: A. Licensing Requirements Qualified professional staff(MBA, CPA, etc.) Municipal Advisor Registration Documentation PFM is registered as a municipal advisor with the Securities Exchange Commission (SEC) and Municipal Securities Rulemaking Board (MSRB)and is aware and undertakes requirements for individual professional registrations as well. Provided below is a link to the Security Exchange Commission's EDGAR system where both the Form MA(for the Firm) and Form MA-I's (for individual MA Representatives) can be retrieved. https://www.sec.uov/cci-bin/browse- edciar?company=&match=&CIK=0001669517&filenum=&State=&Country=&SIC=&owner=exclude&Find= Find+Companies&action=cetcompanv Registered Rep File Number Film Number Sergio Masvidal 868-05146 23822788 James"Jay" Glover 868-05146 25576926 Pedro"Pete"Varano 868-05146 25525103 Kevin Plenzler 868-05146 23568056 Mara Lugo Varona 868-05146 25521611 James "Jay" Kineon 868-05146 241530683 Scott Shearer 868-05146 23820958 Ryan Conway 868-05146 23820508 Alex Theissen 868-05146 231007262 PFM's registration numbers are SEC File No: 867-02030 and MSRB ID Number K1162, Financial Advisor. PFM Financial Advisors LLC is licensed to do business in Florida under document number M16000004976. 1 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R B. Years of Experience Minimum three (3) years of P3 advisory experience or equivalent National Practice We believe that PFM's leading qualifications are evident in our ranking as the nation's top financial advisor in number of transactions and dollar amount for 31 consecutive years. Over the last 3 years, we served as financial advisor on 2,138 publicly offered bond transactions totaling over$264 billion. P3 Advisory projects with a public financing component, either through direct or conduit issuance, are included within our rankings. Additional P3 projects that solely relied on private sector financing would be in addition to these figures and further detailed herein. 2023 -2025 Overall Municipal New Issues Municipal Financial Advisor Ranking- Full Credit to Each Financial Advisor Source Ipreo ti Issues 5 in Millions PFM Financial Advisors LLC 2,138 INEMEll 264,074 Public Resources Advisory Group Inc 419 ;,_ 180.783 Hilltop Securities Inc 1,810 99.043 Frasca&Associates LLC 113 1111111111111B4 79.842 Acacia Financial Group Inc 349 IIIIIIP 46.124 Estrada Hinojosa&Co Inc 166 am 43491 Ranked#1 for Municipal Capital Markets Group Inc 66 min 43 066 Kaufman Hall&Associates Inc 176 _ 39.442 31 Piper Sandler&Co 510 =11 31.990 consecutive Caine Mitter&Associates Inc 319 MN 29058 years 'Rs»kM by l�.,rn rornrx M pa,»rmnrl soot Decanter 31 2025 Florida Practice PFM has the largest financial advisory group in Florida and has been ranked #1 for 26 consecutive years. We have continued to grow our Florida practice, adding clients each year while maintaining the high level of service to our clients. Over the last 3 years,we served as financial advisor on 195 Florida publicly offered long-term bond issues totaling over$25.6 billion. Similar to our National top-ranking, PFM's Florida practice includes a specific focus on P3 projects. We have advised on some of the largest P3 projects in the state, for example: the Port of Miami Tunnel and Prospect Lake Water Treatment Plant, among others. 2023 -2025 Florida Municipal New Issues Municipal Financial Advisor Ranking- Full Credit to Each Financial Advisor 443 Source:Ipreo 14 Issues $in Millions PFM Financial Advisors LLC 195 25,678 Public Resources Advisory Group Inc 53 4.421 Kaufman Hall&Associates Inc 12 3 986 Hilltop Securities Inc 23 _ 2.801 Ford&Associates Inc 22 pi 2 283 Caine Mitter&Associates Inc 16 " 1.670 Ranked#1 Raymond James&Associates 4 . 1.619 in Florida for Janney Montgomery Scott LLC 2 1 862 26 Acacia Financial Group Inc 1 g 772 Building Hope Services LLC 19 583 consecutive years 'Peaked by Ipreo a,Miro a rax-E50050 Pet...me as o/December 31 2025 2 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R 0 C. Expertise of Proposer Florida Statute§255.065 expertise Florida Statute§255.065,which governs Public-Private Partnerships(P3s), places significant emphasis on the proposer's demonstrated expertise as a core evaluation criterion. PFM has a track record of successfully working with our issuer clients in developing the necessary requests for proposals/qualifications should the City determine that an unsolicited proposal has merit and chooses to start the clock on receiving competing proposals. Our experience is certainly focused on the financial analysis, including evaluation of the method of financing and capital stack. However, we also have experience guiding issuers through the full spectrum of P3 considerations, including a clear understanding of lifecycle cost analysis, risk allocation,and long-term asset performance. Our experience aligns with the statute's intent to ensure that private entities bring not just capital,but also technical proficiency,operational discipline,and innovation to public infrastructure delivery.This includes assembling multidisciplinary teams, navigating regulatory frameworks, and executing projects that meet both performance benchmarks and public interest objectives. In essence, our expertise supports the City in meeting the statute's goal of delivering value-driven, efficiently managed projects through capable and accountable proposers. 3 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R S D.Minimum Project Experience Three(3)relevant P3 or equivalent infrastructure finance projects Delivery Model Project Outcome • Project Name and (e.g.DBFOM, Role(s)of Team Project Value Scope of Wo Location DBF, Members and Timeline Performed- (e.g.on-time delivery, Concession) - perational status,key innovation) City of Fort DBOM P3 Advisor& Approximately Replacement of Water The City closed the P3 Lauderdale,FL Financial Advisor $300,000. Treatment Plant via transaction approximately Linda Short,Finance Timeline:24 months competitive P3 procurement. 18 months after bid date. Director PFM's tasks included Funding phase 1 closed in evaluation of unsolicited October 2023($500mm). 954.828.5267 proposal as well as additional The transaction was proposals received during the awarded"Best P3 Utility IshortiSifortlauderdale open 90-day period;review Project of 2023"by the P3 .goy of proposed plan of finance, Bulletin. negotiating with the private equity lender and syndicate banking team regarding terms of financing;structuring the financing plan to be consistent with existing lending covenants;and ultimately assisting the City with its component of the financing. City of Vero Beach, DBF P3 Advisor and Approximately P3 procurement for PFM reviewed the FL Financial Advisor $350,000 redevelopment of proposed redevelopment Jason H Jeffries. Timeline:ongoing decommissioned utility plant plan,conducted market AICP g g located on the intercoastal studies to determine the waterway feasibility of the plan. Planning and provided recommendations Development Four primary tasks.Analysis to modify the plan which Directoreof marketability and financial were accepted by the feasibility,lead RFQ and ITN, Client and advised on the 772.978.4552 lead prequalification process; request for information. effnes(o cvob.ora support analysis of developer PFM continues to assist the proposals in response to City in the advancement of RFQ/ITN. its proposed P3. 4 City of Boynton Beach,FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R George Mason DBFOM P3 Advisor Approximately The University owns the land PFM served as financial University $500,000 underlying the project and advisor to George Mason Gene Crouch Timeline:30 months entered into a ground lease University on this$232 with a private developer. The million Public-Private Vice President and University has leased back a partnership for a Treasurer portion of the project from the collaborative research developer. building. PFM's role 703.463-0305 included,but was not wcrouch2na amu.edu limited to,advising on the: procurement of potential private development partners,evaluation of various ownership and financing structures, review,comment and negotiation of key business terms included in all legal agreements establishing the partnership;review and negotiation of the project budget and pro forma,and; approval from various key stakeholders.Reached financial close in Fall 2022. 5 City of Boynton Beach,FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R B. Proposer's Qualifications: Company Culture/Structure and Experience Proposer shall complete and submit the Proposer's Qualification Statement. a. Company Profile Number of years in business, ownership structure, and number of employees. PFM was founded in 1975 with the mission of providing independent financial advice to state and local governments, governmental agencies and authorities in the debt issuance process and undertaking capital planning and budgeting.3 Today, PFM has one of the largest financial advisory teams in the public finance industry, maintaining an expansive national presence. PFM currently has more than 300 employees located in 30 offices and locations across the United States.° PFM maintains the largest financial advisory practice in Florida, with 18 financial advisory professionals, which include 6 Managing Directors/Partners, 4 Directors, 3 Senior Managing Consultants, and 5 Analysts. This means we will continue to provide the resources to be effective partners in the areas of importance to the City. And specifically leverage the experience of our project managers with the expertise of our Public-Private Partnership practice to provide the City with a comprehensive advisory approach. This local experience and knowledge supplement our national practice, allowing us to continue to bring best-in-class service to the City of Boynton Beach. • •—• • — •ji• • . • -land • - OVER 300 • • EMPLOYEES PFM's Coral Gables office will have full responsibility for the engagement with Boynton Beach, and the City will also have access to PFM's extensive national resources as needed. Offices to Provide Service: Corporate Headquarters: Coral Gables Orlando Philadelphia PFM Financial Advisors LLC PFM Financial Advisors LLC PFM Financial Advisors LLC 2222 Ponce De Leon Blvd. 200 South Orange Avenue 1735 Market Street, 42nd Floor 3rd Floor Suite 760 Philadelphia, PA 19103 Coral Gables, FL 33134 Orlando, FL 32801 'Public Financial Management. Inc. (PFM, Inc.) was founded in 1975 and as of June 1, 2016, the registered municipal advisory services historically offered through former affiliate PFM,Inc.are now offered through PFM Financial Advisors LLC(PFM). Number of employees.offices and locations estimated as of March 15,2026. 6 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Independent P3 Advice from your Fiduciary As clients' needs have evolved and expanded, PFM has developed a wide range of specialized services to assist clients. Importantly, PFM specifically operates as the leading municipal advisor that understands municipal finance, with a specialization in Public Private Partnerships. For the City, this means that we will weigh all of your options for project delivery, rather than being solely focused on a PPP approach even if that isn't the optimal approach. This is very different from our competitors. PFM's goal is to serve as Riviera Beach's strategic partner to help achieve your specific goals, inclusive of a wholistic view of the opportunities available to the City. • PFM has extensive experience in designing and executing creative financing structures, including Public Private Partnerships (P3). These transactions utilize combinations of special assessments, tax increments, and impact fees to achieve performance and lower costs.We have pioneered synthetic sales taxes called Public Improvement Fees (PIF) to help fund infrastructure for hotels and other commercial projects. PFM is currently working on P3s with Miami Beach(hotel),Vero Beach(waterfront redevelopment), Boca Raton (city hall/downtown)and Daytona Beach (fire station). A couple of years ago we assisted Riviera Beach with evaluating P3 financing alternatives for Fire Stations #86 and #88, ultimately concluding that the City would save significant money by leveraging the City's access to low-cost funding through the capital markets to fund the projects, rather than utilizing a P3 partner for financing.This again speaks to our comprehensive approach to project delivery. • PFMGC's Economic and Real Estate Consulting practice provides a broad range of services, including special assessment methodology(such as ad valorem, non-ad valorem,stormwater,and fire), market feasibility, economic forecasting, economic impact analysis, and fiscal impact analysis. PFM is working with the City of West Palm Beach in the evaluation of an unsolicited P3 proposal for a land swap and development of a municipal asset by a private developer. PFM is working with the City of Fort Lauderdale to review private bids to redevelop a municipal parking lot. PFM's work includes an evaluation of each respondent's proposed project plan, and the financial impact to the City. PFM is also working with the City on the redevelopment of a new City Hall building. As described above, our work with the City includes a full evaluation of delivery options, including P35. 'Services provided by PFM affiliates are offered pursuant to separate agreements,including separate scope and fees City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services RFP#26-053R b. Organizational Structure Submit an organizational chart illustrating reporting lines and the division of responsibilities for all staff assigned to this engagement. For each team member, provide a detailed description of their role, responsibilities, relevant professional experience, and educational background. PFM Financial Advisors LLC and its affiliates are indirect, wholly-owned subsidiaries of a holding company known as PFM II, LLC. This holding company is 100% owned by the firm's Managing Directors, who set the firm's strategic direction and manage specific practice areas. The core financial advisory services will be provided by PFM Financial Advisors LLC and will consist of capital planning, transaction management, debt portfolio optimization, rating strategy, and debt and financial policy development, among other services. The County will also have access to the affiliates of PFM that provide additional services as outlined below.6 PFM PFM Financial Advisors LLC PFM Group Consulting LLC PFM Swap Advisors LLC PFM Solutions LLC • Financial Advisory • Fiscal Planning&Budgeting • Swap&Derivatives Products • Synano Software • Debt Management and Bond • Organizational Turnarounds Advisory • Synopsis Software Pricing Optimization • Workforce Strategies • SwapViewer • Capital Structure Consulting • Retirement and Post-Employment • Risk Management Advisory Consulting • Rating Agency/Credit • Health and Human Services Enhancement Advisory Consulting • Public-Private Partnerships • Equity in Budgeting • SLGS • Justice&Safety Finance • Investor Relations • K-12 Schools Consulting Treasury Consulting • Organizational Treasury Review • Banking Program Evaluation 'Services provided by PFM affiliates are offered pursuant to separate agreements,scope,and fees 8 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R �WiLIu�.Vildruitu YYUIIWWIWIriIli�J4,Y�iiJ,.�.1�IV�l1J✓il�Llif� c. SUNBIZ Proof of authorization (SUNBIZ)from the Florida Secretary of State to transact business in the State from the Proposer. 2025 FOREIGN LIMITED LIABILITY COMPANY AMENDED ANNUAL FILED REPORT Jun 25. 2025 DOCUMENT#M16000004976 Secretary of State Entity Name:PFM FINANCIAL ADVISORS LLC 5911655028CC Current Principal Place of Business: 1735 MARKET STREET 42ND FLOOR PHILADELPHIA. PA 19103 Current Mailing Address: 1735 MARKET STREET 42ND FLOOR PHILADELPHIA, PA 19103 US FEI Number:81-1 642 78 7 Certificate of Status Desired: No Name and Address of Current Registered Agent: REGISTERED AGENT SOLUTIONS INC 2894 REMINGTON GREEN LANE SUITE A TALLAHASSEE Fl. 32308 US The elbow mimeo en*srbm:ess gatertrn;tor.Ye purpose ce chargr 9 es reysered office or reysteee<ageee or both n the Side of Ronde SIGNATURE Electron#Sagnature of Registered Apse Date Authorized Person(s)Detail: Tee PRESIDENT Tele SECRETARY Name HARTMAN DANIEL Name MADDOX.CHERYL Address 1735 MARKET STREET Address 1735 MARKET STREET 42TC FLOOR 42ND FLOOR City-State-Do PHILADELPHIA PA 19103 CeyState-Zp PHILADELPHIA PA 19103 Tele CEO Tele MANAGER Name CARTER.JOANNE Name GLOVER.JAMES W Address 1735 MARKET STREET Address 1735 MARKET STREET 4200 FLOOR 42ND FLOOR Cory-State-Zp PHILADELPHIA FA 19103 Coy-State-Zp PHILADELPHIA PA 19103 Tote MANAGER Tele MANAGER Name MASNADAL.SERGIO Name SCARPINATO,HOPE Add•ess 1735 MARKET STREET Address 1735 MARKET STREET 4211)FLOOR 42ND FLOOR C yStae-Zp PHILADELPHIA PA 19103 City-State-Zip PHILADELPHIA PA 19103 Tale MANAGER Tale MANAGER Name NIEDFELDT.JEREMY Name WILDER BRENT D Address 1735 MARKET STREET Address 1735 MARKET STREET 42n0 FLOOR 42ND FLOOR Coy-Stale-Ze PHILADELPHIA PA 19103 Ci y-Stae-Zp PHILADELPHIA PA 19103 Continues on page 2 , Ta ne..e-noea,,wc.ee r Om WOO a,.en4Z+nn Term,a enc„r rcee re.+amu T,raicfl%e ira a n,.tan^1r sere rw rlrr u,race were eon Tai a.•r#maim•s+enree a'trap.•ceee e..te meat,mnmar,or tr rerene w ennree a neeee ea a emo t Ott reae1 a,re4N ee It c-LEn eu',ens.:woes see Ta ,nese.titan*cove we,ar sew'um.r«aAlt.Dew,.v.v..mea SIGNATURE CHERYL MADDOX SECRETARY 06/25/2025 Electronic Srpnatute of Spnry ikettoized Person(s)Deni Date Authorized Person(s)Detail Continued: True MANAGER Tele CHIEF ADMINISTRATWE OFFICER Name CASE.W1ll1Ak1 Name BERKE MONIOUE P Address 1735 MARKET STREET Address 1735 MARKET STREET 42ND FLOOR 42ND FLOOR Crcy-State-Z:c PH'LADELPHIA PA 19'03 Cy-sate-Z,p. PHILADELPHIA PA 19103 9 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R d. Relevant Experience Following are Florida case studies that demonstrate our experience negotiating with private partners.' Each case study serves as evidence of PFM's attention and eagerness to support clients whether developing or reacting to solutions that best serve their needs. CASE STUDY: Vero Beach Redevelopment Plan. s „�F . � ,. PFM serves as financial advisor to Vero Beach, and . our affiliate, PFM Group Consulting LLC's Real Estate -7 , . ; � , -e- Group was retained to provide an opinion on the ' marketability and financial feasibility of the City's$150 e. �.00'r; -;,. 1 „ million redevelopment plan for a 38-acre waterfront I ,, '�, .1. property which was the site of an electric utility plant. -,d:i ,'. ,.. ,,..:.. } We assisted the Cit in the RFP to procure a . i.p. ' r' Y P C !� ,sem ,� - development partner and are currently working with Py:04 = `.`*` the City to analyze the four proposals. All of the ,;, d i .A1:4", �=' designs keepelements of the historicpowerplant in -• - .. ,N,-.7.:!-..,-4.' (et', 9 ''��� ,�, place and include a hotel, restaurants, retail, and ---•-:•4,2',. public space. The four proposers recently made presentations to the City and PFM representatives. CASE STUDY: City of Fort Lauderdale, FL. Public-Private Partnership. Prospect Lake Water Treatment Plant. PFM has served as the Financial Advisor to the City of Fort Lauderdale, FL since 2018. In the course of our engagement with the City, PFM assisted with the evaluation of proposals to construct a new Water Treatment Plant via a Public-Private Partnership. Ultimately this resulted in a unique agreement that provides all of the benefits of an alternative delivery structure with lower cost of capital than traditional P3s. The City's FiveAsh Water Treatment Plant had reached its useful life and the City was seeking alternative means to upgrade its infrastructure. The City had evaluated a number of traditional alternatives when it was approached by a private consortium seeking to provide a Design-Build-Operate-Finance-Maintain ("DBOFM") alternative to the City. Following Florida's Public-Private Partnership ("P3") statutes, the City received proposals from four (4) teams of private firms seeking to engage in a long-term P3 arrangement. The City proactively determined its priorities and criteria for evaluating each of the proposals, including the experience and capacity of each team, the risk transfer profile, technical aspects and financial terms. Such analysis included a holistic comparison to the City's in-house project delivery option. Once the City determined the project delivery alternative and selected the proposer to move forward with the negotiation phase, PFM actively worked alongside the City and its outside counsel to evaluate and negotiate the risk transfer and details of the financial terms with the selected proposer. The private consortium intended to finance the project using a combination of their own balance sheet and debt lenders. However, when compared with the City's own cost of capital, the private financing option suggested a higher projected cost of capital. Additionally, while P3 alternatives are sometimes characterized as "off balance sheet" financing, PFM identified the treatment within GASB, credit agency guidance, and how this agreement would fit within the existing Master Bond Resolution. Effectively, any extended contractual arrangement between a governmental entity and an operator is treated as a debt obligation and the credit agencies / auditors incorporate such payments into debt ratios in their analysis. Understanding the significant cost differential as well as this treatment, PFM assisted the City in negotiating revised financing terms for the agreement. The goal was to maintain the risk transfer aspects of the project 'Case studies provided throughout this proposal are for informational purposes only and do not represent an endorsement or testimonial by clients of PFM's financial advisory services. Case study results were dependent upon the client's circumstances and market conditions at the time of the transactions and are not a guarantee of future performance results 10 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R that were important to the City, such as cost certainty, construction timing, and operational delivery, while lowering the financing cost and ultimate rate payer impact by using the City's strong credit rating and tax- exempt status. Further, negotiating the financing to be within the City's control also removed a potential point for additional return on equity. Key aspects of the revised P3 structure include: • City financing 75% of the project cost up-front and 25% of the remaining project costs at the point that the new Water Treatment Plant was operational and passed all water quality checks from regulatory agencies and City officials. o 75%was financed using the City's existing Water and Sewer Revenue Bond lien at a TIC of 4.80% based on Aa1/AA+ credit ratings. • 25%of the project cost is maintained by the private sector,and upon final approval of the completed project, a 30-year taxable subordinate note will be issued to the project team with a 6.00% taxable fixed-rate coupon. This eventual note is subordinate to the City's Water and Sewer Revenue Bond lien. The subordinate note is optionally callable at par at any time. • The entirety of the Availability Payment (all components of the Design-Build-Operate-Maintain costs) were subordinated to the City's existing Water and Sewer Bonds. This was a vast improvement from the initial proposal to include the Availability Payment CAP") as an operating expense. Doing so would have decreased the Net Revenues and required greater rate increases in order to provide debt service coverage on the existing bonds (125% rate covenant). Instead, the City only needs to set rates to comply with 125% coverage on Senior Bonds, and to meet all remaining subordinate obligations (including the AP). The P3 agreement was signed in March of 2023 and the private consortium immediately began work on the new Water Treatment Plant. The City reached financial close on the Series 2023 Bonds in October of 2023. The new Water Treatment Plant is expected to be in operation in 2026. In November of 2023, the transaction was awarded as "Best P3 Utility Project of 2023" by the P3 Bulletin. CASE STUDY City of Miami Beach and Miami Beach Redevelopment Agency—Convention Center Hotel Public-Private Partnership The City of Miami Beach, Florida (the "City") entered into a Development and Ground Lease Agreement (the "Lease")with MB Mixed Use Investment, LLC (the"Developer") in 2018 for the private development of an 800-key hotel associated with the convention center(the "Project"). After the Lease was executed, the market environment for "Big Box" hotels was challenged due to COVID-19, increased interest rates and inflationary pressures on construction costs, which resulted in the Developer asserting an economic force majeure. In 2024, the Developer requested a grant from the Miami Beach Redevelopment Agency (the "RDA")in order to achieve financial close. At that time, PFM was engaged to review the Developer's Project pro-forma, confirm certain operating assumptions and identify opportunities for the RDA to be reimbursed for a potential grant. Upon review, PFM determined that the Developer's assumptions related to hotel occupancy, Annual Daily Rate ("ADR") and revenue per available room ("RevPAR") were consistent with data for comparable hotels. Assumptions throughout the pro-forma were generally consistent with what other convention center hotels were experiencing. PFM also reviewed the plan of finance proposed by the Developer, which included a construction loan and equity. The projected return requirements, primarily related to the equity's cash on cash return, were determined to be reasonable and supported their conclusion that there was a need for additional capital in order to achieve financial close. Finally, PFM advised the City and RDA on negotiations with the Developer to provide financial return to the RDA for providing the grant. PFM's review of the pro-forma helped to identify capacity for the Project to provide annual payments to the RDA for a period of time after stabilization, as well as the inclusion of a capital event participation fee to the RDA in the event the Developer sold the Project to a third party during the term of the ground lease. Negotiations among the parties were successful, and the project achieved groundbreaking in May 2025 with an anticipated open in late 2027. 11 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R e. Applicable Insurance Submit current proof of General and Professional Liability Insurance Certificate of Insurance (COI). Insurance Statement PFM Financial Advisors LLC ("PFM") has a complete insurance program, including property, casualty, general liability, automobile liability and workers compensation. PFM maintains Professional (E&O)/Cyber Liability coverage which total $5 million single loss/aggregate. Our Professional/Cyber Liability policies are a "claims made" policy and our General Liability policy claims would be made by occurrence. Deductibles/SIR: Automobile $100 comprehensive & $1,000 collision General Liability$0 Professional (E&O)/Cyber Liability $250,000 Crime $50,000 Insurance Company & AM Best Rating Professional Liability (E&O) AIG Specialty Insurance Company; (A; Stable) Cyber Liability AIG Specialty Insurance Company (A; Stable) Crime Berkley Regional Insurance Company; (A+; Stable) General Liability The Phoenix Insurance Company; (A++ Stable) Automobile Liability St. Paul Protective Insurance Company (A++ Stable) Excess/Umbrella Liability Travelers Property Casualty Company of America; (A++ Stable) Workers Compensation Travelers Casualty Ins Co of America; (A++ Stable) & Employers Liability PFM's Evidence of Insurance has been uploaded in the portal under Document upload 6. 12 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R C. Technical / Operational Proposal a. Sample Work Product: Proposer shall provide a comparable redacted engagement that demonstrates a value-for-money analysis or financial model summary. Please find redacted samples of the VfM /financial model work products in Document Upload 2. b. Understanding of the Scope of Work: - Proposer needs to demonstrate its understanding of the City's specific P3 objectives, challenges, and procurement environment. This separates firms that read the RFP carefully from those submitting boilerplate responses. Our team has a clear and practical understanding of the City's objectives in procuring independent P3 advisory services. Similar to our other issuer clients, the City is not seeking a transactional supporter, but rather an experienced, technically rigorous advisor that assists the administration to safeguard public interests while enabling well-structured partnerships. We recognize that the City's priority is to evaluate P3 opportunities with discipline, ensuring each project demonstrates financial feasibility, appropriate risk transfer, and long-term value to residents; all while maintaining full control over procurement, negotiations, and final decision-making.The City of Boynton Beach is not simply seeking a vendor to run financial models. From our experience serving issuers in Florida and nationally, the City is seeking a trusted, independent voice that can stand with the City to evaluate proposals from sophisticated private sector counterparties, protect the public interest, and help City leadership make consequential decisions with confidence. We have read this RFP carefully, and we understand several things that a boilerplate response would miss: First, the independence requirement is paramount. The RFP uses the word "independent" repeatedly and deliberately. We interpret this as the City desiring an advisor without business development interests tied to any private developer, lender, or P3 sponsor who might submit proposals. PFM approaches every engagement holistically, through the lens of our public sector clients, and evaluates them not with the goal of entering into a P3 agreement, but rather with the goal of achieving the City's objectives at a cost-efficient manner. Our recommendations are never colored by a an end-goal to "Create a P3" or desire to please a future fee-paying client on the private side of the table. Second, the task-order structure reflects long-term relationship. The as-needed, task-order-based model signals that Boynton Beach would like a comprehensive P3 evaluation framework, not just a single deal, PFM is currently assisting the City of Fort Lauderdale to create just that. The City would be best served by an advisor with institutional knowledge of Boynton Beach's financial position, priorities, and risk tolerance. Third, §255.065 compliance is a threshold requirement. Florida's P3 statute creates specific procedural, disclosure, and reporting obligations that govern how municipalities may solicit, evaluate, and execute P3 agreements. Any financial advisor serving Boynton Beach must be thoroughly versed in this framework. This begins with the unsolicited proposal process, the required public interest determination, and the mandatory financial and performance oversight provisions. P3's tend to be competitive by nature, and compliance failures can expose the City to legal challenge or political liability. The table below provides a summary outline of our understanding of each component within the scope of services. 13 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Section A: We recognize that P3 proposers arrive with financial projections optimized to Financial make their proposals look attractive. Our role is to serve as the City's "stress- Feasibility Analysis tester," independently validating projected revenues, scrutinizing operating cost assumptions, and evaluating lifecycle cost estimates against comparable municipal projects. The goal of this service is to arm the City with its own financial model to measure a project. Section B: Best practice relies on more than a single-point forecast. Following on the Financial Modeling financial feasibility analysis, we work with the City to develop independent and Scenario scenario frameworks such as a base case and stress scenarios that illuminate Analysis how each proposed P3 structure performs under varying assumptions. The sensitivity analyses should identify which variables pose the greatest fiscal risk to the City. Section C: Review The City may encounter a range of deal structures—ground leases, of P3 Structures concession agreements, availability payment models, DBFOM arrangements, and hybrid structures. We understand the financial mechanics and risk profiles of each. Critically, we know from experience that the structure a private partner proposes is rarely the structure that most benefits the City. We will use a holistic lens to reframe or renegotiate terms to align with the objectives of the City stakeholders. Section D: Our team includes professionals with direct experience advising Florida Compliance and municipalities on P3 statutory compliance. We understand that financial Regulatory Review compliance review is not simply a checklist exercise and that it requires coordinated analysis of funding structures, financial disclosures, and contractual guarantees to identify potential exposure points. Section E: Due Private sector partners vary enormously in financial strength, equity depth, and Diligence and creditworthiness. We will assist the City to assess each proposer's financial Financial capacity. We routinely work with the City's auditing team to review financial Validation statements, evaluate funding commitments, assess the creditworthiness of equity sponsors and lenders, and identify any red flags that a proposed financing structure may pose. Section F: Value- A P3 structure is generally measured on its ability to deliver better value than for-Money Analysis traditional public procurement. We will work alongside the City to conduct transparent VfM analyses that compare the risk-adjusted cost of P3 delivery against a more traditional public sector solution. Ultimately this should provide City leadership with a defensible, documented basis for the chosen delivery method. Section G: We see our advisory role as proactive, not reactive. Beyond analyzing what is in Advisory and front of the City, we will bring market intelligence about how comparable Florida Strategic municipalities have structured similar deals, what terms are market-standard Recommendations versus developer-favorable, and where the City has negotiating leverage. Section H: When the City sits across the table from a private partner's legal and financial Negotiation team, it deserves equally sophisticated support. We will provide real-time Support financial analysis during negotiations, evaluate the implications of revised proposals, and help City staff distinguish between concessions that are acceptable and those that shift unacceptable long-term risk onto the public. 14 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Our Understanding of Boynton Beach's Specific Context Boynton Beach is a growing South Florida municipality navigating the opportunities and complexities that come with that growth. The City's Development Portfolio published by the Economic Development Division provides context for the City's current growth profile. P3 structures are being pitched to all of our South Florida issuer clients with a similar profile as a suggested means of (1) spurring economic development projects, such as the City's Town Square project, and (2) providing solutions to manage infrastructure demands against constrained capital budgets. However, P3 projects should not be viewed as a one-size- fits-all solution and should be measured against all of the options available to a highly-rated City such as Boynton Beach. • The City's residents and Commission expect fiscal prudence and transparency in how public assets and revenues are leveraged • The South Florida development market is active and sophisticated, meaning private proposers will be well-represented and financially capable • The City requires an advisor who can communicate complex financial analysis clearly to elected officials, City staff, and the public. Not just to the financial professionals. • Flexibility in deliverables, as noted in the RFP, reflects the City's pragmatic recognition that each P3 project will have unique characteristics. PFM is prepared to tailor our work product accordingly. Our position is that P3 agreements have a place in the municipal space for certain project types and cases. And in the instances that a P3 solution may merit consideration, the components of the agreement (each of the DBFOM) need to be evaluated against their individual and specific risk transfer and ability to provide the City with a streamlined solution.We approach each analysis from the issuer's perspective. For example, does a specific method of project delivery achieve the City's objective at the highest value from financial profile to quality of product to speed of delivery. If a P3 arrangement is under consideration, we recommend that issuer's consider each component discretely: Design Finally, we do not submit this response as a template. We submit it as a demonstration that we have read the City of Boynton Beach's RFP with the same care we will bring to every task order. PFM will approach this engagement in our fiduciary capacity to you, the City. We understand that the scope requires an integrated advisory approach that aligns statutory compliance, City objectives, and market realities. This includes developing defensible financial models that test lifecycle costs, revenue assumptions, and sensitivity scenarios; conducting rigorous risk identification and allocation frameworks to avoid unfavorable long-term obligations; and providing objective proposal evaluations that distinguish between technically compliant and truly value-driven submissions. Equally important,we recognize the City's need for real-time, task-order-based support that can flex across multiple P3 initiatives, each with different asset classes, revenue structures, and stakeholder considerations. PFM's broad experience supported by a team with sector-specific expertise will serve the City in this capacity. 15 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R c. Technical Approach & Methodoloav a detailed narrative of how the firm will approach each core service area, including value-for-money and public sector comparator analysis, risk identification, quantification, and allocation framework, financial modeling and deal structure evaluation, market sounding and investor/developer engagement support, and procurement and contract negotiation advisory. PFM evaluates value-for-money by assessing alternative project delivery, financing, and operating models against a public sector comparator baseline. Our analysis considers the full life-cycle cost of a project, including upfront capital investment, operating and maintenance costs, financing costs, and residual value. We evaluate traditional public delivery structures alongside alternatives such as leasing, design-build, and public-private partnerships to determine whether alternative approaches can deliver efficiencies without introducing disproportionate risk. The public sector comparator analysis is tailored to the municipalities accounting standards, governance structure, and credit profile. PFM incorporates rating agency and accounting treatment considerations to ensure that apparent savings are not offset by unfavorable balance sheet or credit impacts. Sensitivity analysis is used to test assumptions around cost escalation, timing, and demand to assess the robustness of value-for-money conclusions. Several of the case studies provided below are related to higher education projects, as they have been at the forefront of P3 engagement and we find this experience relevant to all governmental issuers. Key Performance Indicator Taraets- University of New Enaland: PFM has been financial advisor to the University of New England("UNE) j UNE UNIVERSITY OF ENGLAND since 2019. The University has three campus – Biddeford (Maine). Portland (Maine) and Tangier (Morocco). In 2020, PFM worked with the University to update its Financial Strategic Plan ("FSP").The FSP establishes Key Performance Indicators ("KPI) targets, approved by the Board, that are monitored each year when assembling capital and operating budgets. To come up with the KPI targets PFM worked with the University to run and stress test multi-year projections. PFM performed stress testing across baseline, underperformance, and overperformance scenarios, identifying potential areas of financial volatility and illustrating how key metrics could perform under varying economic conditions. Following the FSP, the University established new KPIs focused on operating margin and balance sheet targets. In 2021, following the completion of the FSP, PFM worked with the University on debt financing involving a $100 mm project to relocate the University medical school. In 2023, based on strong operating performance and a growing balance sheet the University received an upgrade in its Moody's rating from A2 to Al. In 2024 PFM underwent a refresh of the FSP with a focus on FY 2025-29. This refresh of the FSP was more heavily weighted toward the expected increase in capital spending over the next 5 years. Once again, PFM partnered with the University to stress test the University's projections under different scenarios. Based on the updated FSP the University modified its KPIs(reducing the targeted operating margin,adding an EBIDA target). In 2025 the University issued $60 mm in bonds for additional capital projects for the Portland and Biddeford campuses. Risk Identification, Quantification, and Allocation Framework PFM applies a structured risk framework to identify,quantify, and allocate risks across major initiatives. Our approach deconstructs projects into core components—governance, design and delivery, operations, and finance—and evaluates risks within each category. These include construction risk, demand and revenue risk, operating cost variability, financing risk, regulatory considerations, and long-term asset condition. 16 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services i RFP# 26-053R 0 PFM quantifies identified risks through scenario analysis and stress testing within financial models. We assess which party is best positioned to manage each risk and evaluate whether proposed structures result in meaningful risk transfer or retained exposure.This framework allows stakeholders to clearly understand tradeoffs between risk, cost, and control and supports informed decisions regarding procurement and contract structure. II. Financial Modeling and Deal Structure Evaluation PFM develops bespoke financial models to evaluate project feasibility and alternative deal structures. Our models are designed to reflect institution-specific assumptions and incorporate income statement, balance sheet, cash flow, and liquidity impacts. We assess the implications of different ownership, financing, and operating structures on key credit metrics and internal performance indicators. Scenario analysis is integral to our approach. PFM models base-case, downside, and upside scenarios to evaluate affordability, resilience, and sensitivity to changes in key assumptions such as interest rates, construction timing,operating costs, and demand.All assumptions are documented to ensure transparency and to allow management to update and refine the model over time as conditions evolve. Relevant PFM client engagements include: M&A/ Non-Profit Conversion — University of Idaho Universityofldaho In 2023, the University of Idaho ("Uofl") entered into an asset purchase agreement for the purpose of affiliating with the University of Phoenix("UofP")through a newly formed non- profit corporation(Fourth Three Education, Inc or"43E"),of which the Uofl would be the sole member. PFM served as financial advisor to the Uofl and 43E. The agreed upon purchase price for the acquisition was $550M,which did not take into consideration$200M in cash that would remain on the balance sheet at 43E upon closing of the transaction. The ability to close under the asset purchase agreement was subject to several conditions precedent, including the ability of 43E to issue approximately $685M to fund the acquisition price, required reserves and costs of issuance through a leveraged buy-out. After execution of the asset purchase agreement, both Uofl and UofP's accreditors affirmed their accreditations of the respective institutions under the potential change in control, and the Department of Education conducted an Abbreviated Pre-Acquisition Review ("APAR"). The working group was successful in developing financial documents to the point where 43E was able to receive a private rating from one of the major rating agencies. Ultimately, the transaction was not consummated due to legal and political challenges with the State of Idaho's legislature and attorney general. In our role as financial advisor, PFM advised on the proposed ownership and finance structure of the affiliation. PFM provided analysis to the State Board of Education related to the potential financial risks of the transaction and potential implications of the University's credit ratings and was available to respond to questions from the State legislature. PFM provided financial analysis of the proposed affiliation and led the efforts for the proposed acquisition financing. Real Estate Acquisition—The University of North Carolina at Charlotte/The Edae In 2024, PFM was engaged to advise the University on the acquisition of a 15- acre parcel of land adjacent to campus that included 720 beds of purpose-build if CHARLOTTE student housing. The property was owned by a private developer, who engaged CBRE as listing agent. PFM advised the University on the advantages and considerations of the acquisition, detailing valuation approaches to support a purchase price, identifying UNC System policies that impacted how the University could effectuate a purchase, and crafting a plan of finance for the acquisition. The Foundation of the University of North Carolina at Charlotte, Inc. purchased the property, which it financed with a bank loan hedged by a fixed payor swap. 17 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R III. Market Sounding and Investor/ Developer Engagement Support PFM supports market sounding efforts to inform project structuring and procurement strategy. Drawing on our experience and national network, we assist clients in assessing investor and developer appetite, understanding return requirements, and identifying potential barriers to market participation. This engagement may include informal outreach or structured market feedback processes, as appropriate. PFM evaluates financial proposals and provides financial diligence on prospective partners, focusing on alignment with the institution's objectives, risk tolerance, and long-term value. Market feedback is incorporated into the financial analysis to ensure proposed structures are achievable while maintaining competitive tension and protecting public-sector interests. IV. Procurement and Contract Negotiation Advisory PFM provides advisory support throughout procurement and contract negotiation processes. Our role includes assisting with the development of procurement documents, evaluating financial components of proposals, and advising during negotiations on key commercial and financial terms. We focus on ensuring consistency between modeled assumptions and contractual obligations, particularly with respect to risk allocation, payment mechanisms, and performance standards. During negotiations, PFM advises on provisions that may impact long-term financial exposure, liquidity, accounting treatment, or credit metrics. Our objective is to support the client in achieving contractual outcomes that are financially sustainable, operationally practical, and aligned with institutional governance and policy constraints. 18 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services 1 RFP#26-053R 0 d. Proposed Work Plan &Schedule: Proposer shall provide a phased work plan tied to the City's anticipated procurement timeline, including key milestones, deliverables by phase, and how the firm will adapt if the schedule shifts. Below is a sample workflow for P3 transactions. •Determination of City Objective(s),Identification and Evaluation of Potential Project(s),First- Stakeholder level Financial Analysis of Project(s) Baseline: •Determination with City Administration of available project delivery methods.Evaluation based Project Delivery on type of project,timing constraints,lifecycle costs,and risk transfer. Method: *Work with City Administration to determine the appropriate procurement methodology(RFP, RFQ,LOI)for City-initiated project(s). Assist with the technhnical specs for said procurement.For Procurement unsolicited proposals,cycle back to baseline discussion and determine if proposal fits within City Methodolo objectives.If so, proceed to evaluate within the framewwork of§255.065. gy: •For either solicited or unsolicited proposals(that advance to the open-competition window), work alongside City Administration to notice the Request,create and populate the data room. For certain projects this stage may include a City-driven education process whereby City officials Procurement provide potential proposers with an opportunity to discuss the project in-person and refine the Phase: technical specs based on private-sector feedback. •Facilitate the financial analysis of proposals. Create customized cash flow models based on City objectives.Work with City stakeholders to summarize and outline key proposal points,financial Evaluation of impact to the project,financial impact to the City,and achievement of core objective(s). Proposals: •Successful implementation of the P3 agreement.Alongside City Administration and other team members, PFM will facilitate review and finalization of documents,maintaining the integrity of Transaction financial margins during negotiation,ensuring appropriate risk transfer provisions,as applicable. Closing: 19 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R e. Key Personnel & Staffing Plan: Proposer shall submit profiles for all personnel proposed for this engagement, their specific roles and responsibilities, their availability and commitment percentage throughout the engagement, and an organizational chart showing team structure and the City's primary points of contact. In addition, include a current one-page résumé for each individual. Our approach to the City's engagement will begin with our lead engagement manager and co-engagement managers. The beginning of this approach ensures that we are always at-the-ready with a combination of local and project expertise. Secondarily, the lead engagement manager will make certain that the appropriate sector experts across our platform are involved in specific City projects, dependent on the type(s) of expertise necessary. Our approach is tailored to meet the City's objectives on a case-by-case basis. As such, we will be available to the City at all times, on short-notice, and in person. Finally, you will also have the full support of our co-engagement managers for each project. PFM will serve as the City's partner and agent in helping to achieve its project delivery objectives. We believe that alternative delivery options can provide governments with the opportunity to hasten completion, as well as provide budget and timing certainty, encourage design and management innovation boost investment and share construction/operational/revenue risk with the private sector. Given the stress on governmental agencies' resources, along with the infrequency of opportunities to consider non-traditional delivery strategies, access to experience reinforced by a fiduciary obligation to provide impartial advice is paramount to helping ensure appropriate transaction structuring. Working with the City, we will identify the delivery structure that optimizes value while minimizing risk. We will help ensure that the chosen alternative secures the optimal cost strategy while remaining consistent with the City's broader policy and financial objectives. We will provide a forum for discussing ideas, an environment for challenging the conventional wisdom and an opportunity to maximize and leverage the performance of the City's resources.As an AD/P3 consultant, PFM is prepared to manage the procurement process and execute transactions with full transparency, objectiveness and efficiency. As Florida's and the Nation's leading financial advisor, PFM offers the City of Boynton Beach unparalleled resources and a seamless transition. PFM's core team leaders, led by Sergio Masvidal, are prepared to begin work immediately, focusing on the City's capital improvement program with priorities in general infrastructure and economic redevelopment, among other needs. Our sector experts, such as Kevin Plenzler for real estate, economic analysis, and assessments, will augment the experience of our core team. An overview of the PFM team and detailed resumes are provided at the end of this section. PFM's resources are committed to the City ensure timely responses to all of the City's needs. We lead the data gathering and analysis process guided by the City's direction and preferences. PFM works as a team with our clients by drafting recommendations, presentations and agenda memos for our client's review and shoulder as much preparation as possible. Emails and phone calls are usually returned within an hour and analytical requests for routine numbers are typically provided the same day. PFM's goal is to be as involved with the City as possible,with communication as frequently as the City would like.Sergio Masvidal is located in Coral Gables, covers all of South Florida. Members of our team committed to the City are always available on short notice either in person or virtually, particularly given our proximity The PFM team has the time, availability, and resources to provide prompt, sound, and quality financial advisory services for Riviera Beach, as evidenced by our high level of staffing and years of service to Riviera Beach and throughout Florida. Your dedicated project manager, Sergio Masvidal, will assemble teams for each assignment for the City based on the type of project and expertise needed, providing expertise for the highest levels of service and availability. Our approach ensures personalized client coverage, and we would be pleased for the City to reach out to our client references to confirm this based on their firsthand experience. PFM has been solely focused on municipalities for fifty years, and we continue to grow our team and available capacity to serve you. 20 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R TYO 1110©01: I V rO N PFM Financial Advisors LLC Engagement Manager (Day-to-Day Contact) Sergio Masvidal Managing Director Senior Project Support Kevin Plenzler Director Real Estate/Economic Development Analytical &Technical Support Pedro "Pete"Varona James"Jay"Kineon Senior Managing Consultant Analyst Sector Specific Experts as needed Scott Shearer Alex Theissen Managing Director Director Utility and P3 clusters Alternative finance solutions Ryan Conway Managing Director Alternative delivery(P3) 'Services provided by PFM s affiliates are offered pursuant to separate agreement and fees 21 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services RFP# 26-053R 0 Core Financial Advisory Team Sergio Masvidal, Managing Director in PFM's Coral Gables office, will serve as Engagement Manager/ Day-to-Day Contact for this relationship. Sergio has extensive experience, having actively managed over $20 billion of bond transactions over 22 years. His clients include a variety of cities, counties, community redevelopment agencies, utilities, special taxing authorities and transportation authorities. Sergio's experience also includes technical evaluation of Alternative Delivery methods and Public-Private Partnership models across the spectrum of credits. Sergio is a Municipal Advisor Representative (Series 50). James"Jay" Glover Managing Director in PFM's Orlando office will serve as Senior Project Support for this relationship. He has been providing financial advisory services to Florida local governments for over 24 years. As the Engagement Manager, Jay will lead the delivery of the financial advisory services and be responsible for review of all work products completed by PFM. He will also coordinate the inclusion of sector experts depending on the services requested of PFM by the City. He specializes in Florida municipal finance for cities, counties, school districts, and a variety of authorities. Jay is a Municipal Advisor Representative (Series 50)and Municipal Advisor Principal (Series 54).As a Series 54 holder, Mr. Glover oversees PFM's compliance efforts for the Florida team. Sector Specific Experts Kevin Plenzler, Director in the Orlando office, will serve as advisor on any Real Estate or Economic Development project as requested by the City. Kevin has nearly 20 years of experience, specializing in real estate and economic redevelopment, providing pro forma analysis for all types of real estate projects, including residential, non-residential, mixed-use and industrial projects. Kevin is a Municipal Advisor Representative (Series 50). Scott Shearer, Managing Director in the Harrisburg office, has over 20 years of experience. He is a member of the firm's national utility and Public-Private Partnership (P3) clusters. His expertise will assist in identifying and executing monetization opportunities. With a focus on utilities, Scott led the first of its kind procurement process for the concession lease successfully completed in Allentown in August 2013 for its water and wastewater systems. Ryan Conway, Managing Director in the Charlotte office has over 21 years of professional experience and focuses on alternative delivery ("P3") projects for public sector clients across the country. Since January 1, 2018, Mr. Conway's experience working on P3 projects includes, among others, the University System of Georgia, Oregon University, University of Illinois, Auburn University, University System of Hew Hampshire,Western Michigan University, Kent State University, New College of Florida and the Fort Worth Independent School District. Mr. Conway's professional experience prior to 2018 includes serving as the director of capital markets for a private developer of P3s, and as a finance professional for the University of Virginia8. Alex Theissen, Director in PFM's financial advisory business focused on alternative financing solutions related to P3 project finance. Alex has experience in both credit research as well as public finance investment banking. Analytical Support Team Pete Varona, Senior Managing Consultant in the Coral Gables office and James "Jay" Kineon, Analyst in the Orlando office, will provide Analytical and Technical Support for the project team. They have provided the transaction management services and technical support for many of the firm's Florida clients over the last 13 years, with a focus on Central and South Florida. Both are Registered Municipal Advisor Representatives(Series 50). 8 Client list is for informational purposes only and does not represent an endorsement or testimonial by clients of PFM's financial advisory services. 22 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R 0 Sergio Masvidal, Managing Director PFM Financial Advisors LLC Sergio Masvidal is a managing director in the Miami office. He is primarily 114 responsible for leading and providing technical financial advisory services to clients throughout Florida and the Southeast,with a primary focus in South Florida.Sergio is one of the most active financial advisors in Florida in terms of both total par amount and number of transactions completed. He has extensive experience, having actively managed over $20 billion of bond transactions over the last 23 years.9 Sergio's clients include a variety of Counties, Cities, School Districts, Special Taxing Districts, Utilities and Transportation Agencies. Office Location 2222 Ponce De Leon Blvd.,3rd Floor In his role as project manager, Sergio devotes a significant amount of time Coral Gables,FL 33134 providing financial advisory services to cities in South Florida and along the east coast. Sergio has expertise in project financing, having helped develop long-term Contact Information financing plans that create innovative and cost-effective structures. Part of this masvidalsPofm.com process includes a comprehensive evaluation of available security pledges and 786.671.7480(office) complicated strategic issues, as well as providing guidance on credit structures and developing the credit agency approach for issuers. Education Bachelor of Arts in Psychology Sergio has extensive experience assisting clients to develop financing strategies Muhlenberg College for long-term capital improvement programs. In his role as advisor to issuers with Professional Designations or Licenses special taxes, transit funding, and general government financings, he has advised both competitive and negotiated public offerings, direct bank placements, as well Municipal Advisor Representative(Series as TIFIA/WIFIA funding. 50) Years with PFM Sergio is the chairman of PFM's Board of Directors. In the community,Sergio has served as a volunteer at the Kendall Boys&Girls Club, Miami-Dade Public Schools 21 Years Listeners/Oyentes Program, and has served as a volunteer speaker on the Years of Experience Resilient Cities Network 100RC "Living with Water" subcommittee. He is a registered Municipal Advisor Representative (Series 50). 21 Years Source:PFM Internal Records 23 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R James "Jay" Glover, Managing Director PFM Financial Advisors LLC Jay Glover is a Managing Director in PFM's Orlando, Florida office. Jay has assumed an active role in providing project management services to clients throughout the Southeast. He has taken an active role in working with clients on new money issuances, refundings, pooled financings, conduit borrowings, derivative products analyses, and innovative financing solutions. The clients that Jay serves are located primarily in Florida and include cities, counties, school districts, and a variety of authorities. His project finance experience includes water and sewer,economic development,transportation,sports venues,education, public power, solid waste, pension bonds and special assessment programs. Local governments for which Jay currently serves as project manager are the counties of Brevard, Volusia, Lake, Seminole, Sarasota, Orange, Marion, Flagler, St. Johns, and St. Lucie; the Office Location cities of Port St. Lucie, Marco Island, Melbourne, Titusville, Cocoa Beach, St. Petersburg, 200 S.Orange Avenue Gainesville, Boca Raton, Boynton Beach, Ormond Beach, Delray Beach, Coral Gables, Suite 760 Winter Garden and Winter Park; the School Districts of Volusia County, Sarasota County, Orlando. FL 32801 and Seminole County'. Contact Information Mr. Glover has expertise in conducting competitive bond sales and negotiating pricings for aloveriCftfm.corn both tax-exempt and taxable new money and refunding bond issues. Since joining PFM in 407.406.5760(office) 2000, Mr. Glover has served as project manager on over 500 transactions with a total par amount of over$15 billions'. Education Mr. Glover has worked with Orange County, Florida to help improve its implied general Master of Business obligation ratings to AAA from Fitch and Kroll, its tourist development tax ratings to Administration University of South Carolina AA/Aa2/AA- from Fitch, Moody's and S&P and its water and sewer system ratings to AAA from S&P and Fitch. Bachelor of Science in Business Administration Jay is a past speaker for the Florida Association of Counties, Florida School Finance Officers College of Charleston Association, Florida Government Finance Officers Association and other industry consortia. He is a Municipal Advisor Representative(Series 50)and Municipal Advisor Principal(Series Professional Designations or 54). Licenses Municipal Advisor Representative(Series 50) Municipal Advisor Principal (Series 54) Years with PFM 25 Years Years of Experience 25 Years '°Client list as of April 15. 2025,is for informational purposes only and does not represent an endorsement or testimonial by clients of PFM's financial advisory services "Source PFM internal records 24 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Pete Varona, Senior Managing Consultant PFM Financial Advisors LLC Pete Varona is a Senior Managing Consultant in the Coral Gables Office. Mr. Varona works in the general financial advisory sector, providing technical and quantitative project support for various clients,with a strong focus on the South Florida market. His present duties include structuring, sizing, and pricing new money and refunding municipal bond issues, including providing project management for various South Florida entities as well as support for engagement managers for various clients. He is also involved in assessing municipal issuer's outstanding Office Location debt and performing analysis of refunding opportunities. 2222 Ponce De Leon Blvd.,3rd Floor Coral Gables, FL 33134 Mr. Varona graduated from the University of Florida with a Master of Arts in International Business, as well as a Bachelor of Science in Economics. He is a registered Municipal Advisor Representative (Series 50). Contact Information varonaoaofm.com 786.671.7481 (office) Education Bachelor of Science in Economics University of Florida Master of Arts in International Business University of Florida Professional Designations or Licenses Municipal Advisor Representative (Series 50) Years with PFM 13 Years Years of Experience 13 Years 25 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R Kevin Plenzler, Director PFM Financial Advisors LLC Kevin joined PFM in 2019 via acquisition of Fishkind and Associates, Inc. in Orlando, Florida. His current responsibilities include providing financial advisory and assessment consulting services associated with PFM's Community Development District practice within PFM Group Consulting, LLC. In addition to financial advisory services associated with PFM's special district practice, Kevin provides economic and real estate consulting services such as transportation toll and revenue studies, highest and best use market studies, affordable housing analysis, and tax increment finance analysis. Office Location 3501 Quadrangle Blvd. Prior to PFM, Kevin worked as an associate with Fishkind and Associates, Inc. Suite 270 within its real estate consulting group. Kevin has relevant experience in fiscal Orlando, FL 32817 impact analyses, detailed pro forma analysis associated with real estate transactions, and economic impact analyses in Florida and the Southeastern Contact Information United States. olenzlerk anpfm.corn 407.723.5933(office) Education Bachelor of Science in Environmental Engineering Technology University of Dayton Master of Business Administration Warrington College of Business University of Florida Professional Designations or Licenses Municipal Advisor Representative (Series 50) Years with PFM 6 Years Years of Experience 20 Years 26 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R 0 Mara Lugo, Senior Managing Consultant PFM Financial Advisor LLC Mara Lugo joined PFM in 2018 and is based in the Coral Gables office. In this role, she provides technical and quantitative analytical support for client engagements and works with city and county issuers throughout the southeast. Mara will provide Analytical and Technical Support for the engagement. She has experience with tax-exempt and taxable municipal bonds, bank loans, lines of credit, commercial paper programs, liquidity and interim financing alternatives, and variable rate debt. Her present duties include structuring, sizing and pricing new money and refunding municipal bond Office Location issues, as well as performing analysis of refunding opportunities. She also provides multi-year financial modeling for strategic planning, capacity 2222 PonceDe Leon Blvd.,3rd Floor Coral Gables,FL 33134 analyses, and ratings support to a variety of issuers. She has been involved in executing debt transactions totaling over$7 billion.12 Contact Information ii.momapfm.com Mara holds a Master of Business Administration from the Crummer School 407.406.5765(office) of Business at Rollins College and a Bachelor of Arts in Journalism from the University of Richmond. Mara is a Municipal Advisor Representative(Series 50). James "Jay" Kineon, Analyst PFM Financial Advisor LLC Jay Kineon is a dedicated transportation analyst with PFM Financial Advisors. He is based in PFM's Orlando office. He provides quantitative and transactional support for transportation issuers. His experience includes financial modeling, debt structuring, document review, and proposal analysis for clients located throughout the country. Office Location 200 South Orange Avenue.,Suite 760 Jay holds a Master of Business Administration from the Crummer School of Orlando,FL 32801 Business at Rollins College and a Bachelor of Arts in Economics from Rollins College. Jay is a Municipal Advisor Representative (Series 50). Contact Information kineoni( ofm.com 407.406.5762(office) '2 Source PFM Internal Records. 27 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R 0 Scott Shearer, Managing Director PFM Financial Advisors LLC Scott joined PFM in 1998. In his tenure at PFM, he has worked on more than 1,600 transactions for local governments and other issuers primarily in1111114 Pennsylvania. He oversees approximately 250 clients comprised of municipal authorities, industrial development authorities, school districts, cities, counties, townships, and the Commonwealth. He is a member of the firm's national utility and Public-Private Partnership (P3) clusters. His expertise includes the structuring of both tax-exempt and taxable fixed-rate bond issues, variable-rate bond pool financings, bank loans, and interest rate swap derivatives. In this capacity, he assists local governments in the areas of capital planning, financial analysis, refinancing opportunities, debt Office Location structuring analysis, budget forecasting, credit rating agency relations, investor relations,and identifying and executing monetization opportunities. Keystone Plaza 100 Market Street Scott has led project teams for very significant economic development Harrisburg,PA 17101 financings including the Allentown Neighborhood Improvement Zone Development Authority in Pennsylvania and many other Tax Increment Contact Information Financings that have generated over $lbillion of economic development shearerseofm.corn projects.With a focus on monetization and regionalization of utilities, Scott 717.231.6262(office) led the first of its kind procurement process for the concession lease successfully completed in Allentown in August 2013 for its water and Education wastewater systems. Since then, Scott is active in many other engagements that involve exploring or implementing asset monetization B.S.in Actuarial Science Pennsylvania State and regionalization efforts for various asset classes. University Professional Designations or Licenses Municipal Advisor Representative(Series 50) Years with PFM 37 Years Years of Experience 37 Years 28 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Ryan Conway, Managing Director PFM Financial Advisors LLC Ryan leads PFM's national coverage of alternative delivery ("P3")financing solutions. Since 2001, Ryan has led the financing process on over 100 transactions in excess of$10 billion. His prior experience structuring financings as a private developer _ of P3 projects, university official, investment banker and financial advisor gives him a unique perspective and understanding of all parties involved in a public-private partnership. Ryan began his career at PFM in 2001, where he worked as a financial advisor until 2004, and returned in the beginning of 2018. Most recently prior to his return, Ryan was Office Location vice president, capital markets for a private developer, where he was responsible for Calhoun Building structuring financing solutions for public-private partnerships, managing relationships 11605 North Community House with institutional investors,rating agencies and financial institutions. He led negotiations Road Suite 500 with university officials on the operative legal agreements that governed all aspects of Charlotte, NC 28277 the long-term partnership and oversaw the development of the project pro forma. conwavr(a�pfm com Ryan's prior experience also includes serving as director of capital markets finance for 856.425.7817 cell the University of Virginia and director in Wells Fargo Securities' public finance investment banking group. Education Ryan has been an industry leader in providing insights on alternative delivery projects, B.A.in Public Policy including leading the panel"Lesson's Learned in P3s"for the Treasury Institute's annual cAdministration with a Symposium in 2019, and authoringthe white paper "GASB Proposes Updated Local Government in State and p p p p Local Government and Guidance on P3s— Potential Impact on Public Colleges and Universities" in July 2019. Economics University of North Carolina at Chapel Hill Ryan earned his Bachelor of Arts in Public Policy Administration with a concentration in State and Local Government and Economics from the University of North Carolina at Professional Designations or Chapel Hill and is a Municipal Advisor Representative (Series 50). Licenses Municipal Advisor Representative (Series 50) Years with PFM 24 Years Years of Experience 24 Years 29 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services RFP#26-053R Alex Theissen, Director PFM Financial Advisors LLC Alex is a director in PFM's financial advisory business focused on alternative financing solutions for higher education clients, specifically related to P3 project finance. Alex has experience in both higher education credit research as well as public finance investment banking for the higher education sector. Alex joins PFM from Raymond James & Associates, where he served as an investment banker for higher education clients, responsible for capital markets and financing solutions, debt management and credit rating analysis. He Office Location managed relationships with investors, institutions, issuers, rating agencies and Boo0 1High Stre20rd Floor ston,MA 022Street 11023rd other parties involved in capital markets transactions. Alex previously worked at Putnam Investments on the tax-exempt investment management team and the theissena@pfm.com structured fixed income investment management team, where he was 617.502.5646 office responsible for various roles in the investment decision process including credit Education analysis, financial modeling, portfolio construction and securities trading. B.S. in Management with a concentration in Finance Boston College Years with PFM 7 years Years of Experience 18 Years 30 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R f. Subcontractors & Teaminca Arrangements: Proposer shall identify any subconsultants, their specific roles, and how the prime firm will oversee and integrate their work to ensure quality and accountability. None g. Quality Control & Proiect Management: Proposer shall show how the firm manages internal review of financial models and deliverables, handles version control and document management, and maintains consistent communication with City staff throughout the engagement. All work products are crafted by the assigned project team and reviewed by Project Manager(s). Typically draft versions are prepared for review and discussion with the client prior to finalizing. h. Conflicts of Interest Disclosure: Proposer shall provide a full disclosure of any relationships with P3 investors, developers, lenders, or operators that could create a conflict, along with the firm's policy for managing conflicts if they arise mid-engagement. PFM knows of no existing or potential conflicts that may affect our engagement with the City of Boynton Beach FL in any manner or degree. 31 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services 1 RFP#26-053R ,(r. . PROPOSER'S QUALIFICATION STATEMENT THIS PAGE IS TO BE COMPLETED AND UPLOADED ONLINE The undersigned certifies under oath the truth and correctness of all statements and all answers to questions made hereinafter: SUBMITTED TO: City of Boynton Beach Procurement Services 100 E. Ocean Avenue Boynton Beach, Florida 33435 Check One Submitted By: Corporation Name: PFM Financial Advisors LLC Partnership Address: 2222 Ponce De Leon,3rd Floor Individual CITY, State, Zip: Coral Gables,FL 33134 Other X Limited Liability Telephone No.: 786.671.7480 - Company Fax No.: Email Address.: masvidals@pfm.com 1. State the true, exact, correct, and complete name of the partnership, corporation, trade, or fictitious name under which you do business and the address of the place of business. The correct name of the Proposer is: PFM Financial Advisors LLC The address of the principal place of business is: 1735 Market Street,42nd Floor Philadelphia,PA 19103 2. If Proposer is a corporation, answer the following: a. Date of Incorporation: b. State of Incorporation: c. President's name: d. Vice President's name: e. Secretary's name: f. Treasurer's name: g. Name and address of Resident Agent: 3. If Proposer is an individual or a partnership, answer the following: a. Date of organization: 1/15/2016 b. Name, address and ownership units of all partners: PFM II, LLC Ultimate Parent 100%. c. State whether general or limited partnership: Limited Liability Company- Partnership 4. If Proposer is other than an individual, corporation, or partnership, describe the organization and give the name and address of principals: 5. If Proposer is operating under a fictitious name, submit evidence of compliance with the Florida Fictitious Name Statute. 6. How many years has your organization been in business under its present business name? 10 Under what other former names has your organization operated? Public Financial Management Inc. 7. Indicate registration, license numbers, or certificate numbers for the businesses or professions, which are the subject of this Bid. Please attach the certificate of competency and/or state registration. PFM's registration numbers are SEC File No:867-02030 and MSRB ID Number K1162,Financial Advisor.PFM Financial Advisors LLC is licensed to do business in Florida under document number M16000004976. 8. Did you attend the Pre-Proposal Conference if any such conference was held? YES NO x 9. Have you ever failed to complete any work awarded to you? If so, state when, where, and why: No 10. List the pertinent experience of the key individuals of your organization (continue on insert sheet, if necessary) Sergio Masvidal:22 years of financial advisory services to municipalities,lead advisor to over$18B of municipal financings. Jay Glover:25 years of financial advisory services to municipalities,lead advisor to over$20B of municipal rmancings. Please see full resumes in prnprsl 11. State the name of the individual who will have personal supervision of the work: Sergio Masvidal,Managing Director 12. State the name and address of the attorney, if any, for the business of the Proposer: N/A 13. State the names and addresses of all businesses and/or individuals who own an interest of more than five percent(5%)of the Proposer's business and indicate the percentage owned of each such business and/or individual: PFM II, LLC Ultimate Parent 100%. No individuals own more than 5%. 14. State the names, addresses, and the type of business of all firms that are partially or wholly owned by Proposer: None. 15. State the name of the Surety Company which will be providing the bond (if applicable), and the name and address of the agent: Not applicable 16. Annual Average Revenue of the Proposer for the last three years as follows: I Revenue Index Number_ I a. I Government Related Work I I b. I Non-Governmental Related Work I I I Total Work(a+b): I io• *PFMFA 2025 total revenue is:$96.2M.Accounting is not able to pull numbers based off the exact number of contracts that is categorized as government versus non government. Revenue Index Number 1. Less than$100,000 2. $100,000 to less than$250,000 3. $250,000 to less than $500,000 4. $500,000 to less than $1 million 5. $1 million to less than$2 million 6. $2 million to less than$5 million 7. $5 million to less than$10 million 8. $10 million to less than $25 million 9. $25 million to less than $50 million 10. $50 million or greater 17. Bank References: Bank Address Telephone M&T Bank One Liberty Place,Suite 3150 Nora Perry,Relationship Liaison Supervisor, 1650 Market Street Asst.VP Philadelphia,PA 19103 (215)419-6580 18. Describe policies and methods for project monitoring and budgeting control as well as adherence to project schedule (continue on insert sheet, if necessary). All projects are managed and supervised by the Project Manager(s). 19. Provide descriptions of quality assurance/quality control management methods (continue on insert sheet, if necessary): All work products are crafted by the assigned project team and reviewed by Project Manager(s). Typically draft versions are prepared for review and discussion with the client prior to finalizing. 20. Is the financial statement submitted with your proposal (if applicable)for the identical organization named on page one? YES NO X 21. If not, explain the relationship and financial responsibility of the organization whose financial statement is provided (e.g., parent-subsidiary). The enterprise of PFM provides a consolidated audited financial statement. which includes PFM Financial Advisors LLC along with other subsidiaries. 22. What will be your turnaround time for written responses to City inquiries? The usual turnaround time is 24 hours. 23. List and describe all bankruptcy petitions (voluntary or involuntary)which have been filed by or against the Proposer, its parent or subsidiaries, or predecessor organizations during the past five(5)years. Include in the description, the disposition of each such petition. None The Proposer acknowledges and understands that the information contained in response to this Qualification Statement shall be relied upon by the owner in awarding the contract and such information is warranted by Proposer to be true. The discovery of any omission or misstatement that materially affects the Proposer's qualifications to perform under the contract shall cause the owner to reject the proposal,and if after the award, to cancel and terminate the award and/or contract. Serio 7 iz.s'LUIb1 7, 04/28/2026 10:31 AM EDT (Signed) J Managing Director (Title) STATE OF Florida COUNTY OF Broward The foregoing document was acknowledged before me, by means of 0 physical presence or Vnline notarization, this 28th day of April , 2026 by Sergio Masvidal , as Managing Director of PFM Financial who is persteally kng�v to me or who has produced /') Advisors LLC as identification. Cyrtt{ua Silk 904 04/28/2026 10:34 AM EDT CYMlNA SLLYA Mug Public-Slob d Florida Notary Public(Signature) •'k _ Commission:NN 603263 Cynthia Silva Commission HH603763 " Aq Comm Expires Mr II,2028 My Commission Expires: 11/11/2028 Online Notary This notarial act involved the use of online audio/video communication technology. Notarization facilitated by SIGNiX® Municipal Entity _ Concessionaire ,• Existing Amortization" Hybrid Equity Summary of Results Outstanding Tax-Exempt Debt $155,765 $0 $0 S0 Tax-Exempt Refunding Debt $152.730 $150,090 $0 $0 Taxable Refunding Debt $0 $165,595 $397,947 $418,858 Tax-Exempt New Debt $119.190 $119 015 §.Q EL Total Debt $427,685 $434,700 $397.947 $418,658 Equity $0 $0 $70,225 $73,880 Total Capital Raise $427,685 $434,700 $468,172 $492,538 Debt/Equity(%) 100/0 100/0 85/15 85/15 Weighted Average Cost of Capital 3.68'/. 3.72% 5.96% 6.91% Average Life(years) 14.8 21.0 20.6 24.7 Equity IRR N/A N/A 9.33% 9.25% Total Equity Distributions N/A N/A $482,465 $600,376 Total Residual Cash Flow to Municipal Institutions $1,616,209 $1,490,031 $1,109,334 $736,432 NPV Residual Cash Flow to Municipal Institutions $612,209 $599,523 $300,414 $164,609 Minimum Projected DSCR 1.09x 1.49x 1.55x 1.47x Ability to Meet Municipality Protect Goals Municipality Control of Student Affordability Capital Raise Off Municipality Balance Sheet x Concessionaire Liability for Asset Financial Performance ' • Availability of Residual Cash Flow to Institutions Private Sector Expertise in Facility Management Risk of Financial Close Assumptions Financing Assumptions Primary Source of Lender Security Lease appropriation credit of Lease appropriation credit of First priority lien on project First priority lien on project Municipality Municipality revenue with Municipal revenue Debt Amortization 32 years 32 years 32 Years 35 Years Assumed Credit Rating Al Al Al Baa3 Borrowing Index AAA MMD US Treasuries 30Y US Treasury 30Y US Treasury Spread to Index 50 45-143 bps 143 bps 275 bps Equity Yield Requirement in Stabilized Year NA NA 6 50% 6.50% DSCR Requirement in Stabilized Year NA NA NA 1.30X DS Structure After Stabilized Year New Money.Level Debt Level Debt Service Level Debt Service 2%DS Growth for 8 years. Service Level DS after DSRF Requirement NA NA NA 50%MADS O&M Reserve NA NA NA 2 months OPEX Capitalized Interest Fund 1.20x DSC through NA NA NA stabilized year Operation Account Liquidity NA NA NA 2 months OPEX Capital Repair and Replacement Account $175 bed funded annually $175 bed funded annually $175 bed funded annually $175 bed funded annually 'All 5's shown as 5000 Economic Development Project Financial Proforma ' 2026 2027 2028 2029 2030 Oeys Open 365 365 365 366 365 365 %umber of Rooms 794 794 794 794 794 794 Rooms Available 289,810 289,810 289,810 290,604 289,810 289,810 Rooms Sold 238,590 238,590 238,590 239,244 238,590 238,590 Occupancy% 82.3% 82.3% 82.3% 823% 82.3% 82.3% Average Room Ran $324.11 5333.83 $343.85 $354.16 $364.79 $375.73 9ev060 $266.83 5274.83 5283.08 5291.57 5300.32 5309.33 Revenue Revenue 77,329,770 79,649,663 82,039,153 84,731,835 87,035,337 89,646,397 Total F&B Revenue I 42,340,432 43,610,645 44,918,965 46,266,534 47,654,530 49,084,166 Real Estate Taxes 3,019,403 3,094,888 3,172,260 3,260,475 3,332,856 3,416,177 Ground Lease l%Total Rev) 3,263,216 3,361,112 3,461,946 3.571,592 3,672,778 3,782,962 IMF 0 0 0 0 0 0 ash Flow to Owner 39,865.304 41,176,625 42,530,170 43,992,075 45,369,328 46,857,746 -- 81014 45,086,449 46,554,405 48,069,283 49,706,622 51,245,773 52,920,485 City CBA Debt City CBA Debt 501c3 Developer Debt (Gross Funded) (Net Funded) (A2 Rating) Par Amount 206,490,000.00 199,020,000.00 237,505,000.00 Premium 16,688,547.10 16,085,058.55 14,903,930.85 Project Fund 223,176,000.00 215,104,520.49 217,850,520.49 Project Fund Earnings 8.071.479.51 8.071.479.51 Project Fund Total 223,176,000.00 223,176,000.00 225,922,000.00 Cap-I - - 34,554,353.53 All-in TIC 4.33% 4.33% 4.70% Total Net Debt Service 399,204,929.17 384,763,391.67 473,138,056.25 Final Maturity 7/1/2056 7/1/2056 9/30/2059 Termination Calculation(10-Years Example) Redemption Cost @ 10-Years 168,630,000.00' 162,525,000.00' 166,988,000.002 Interest Through 10-Years jnet of Cao-l) 90.722.429.17 87.440.391.67 78.363.400.00 Total Cost(Interest+Pay Down) 259,352,429.17 249,965,391.67 245,351,400.00 (1)Redeemed at 100%of per(2)Redeemed at 80%of par.Assumes 3.5%reinvestment rate PFM II, LLC Consolidated Financial Statements December 31, 2024 and 2023 • , _ ur, Kreischer Miller PFM II, LLC December 31,2024 and 2023 Contents INDEPENDENT AUDITORS' REPORT CONSOLIDATED FINANCIAL STATEMENTS Consolidated Balance Sheets 1 Consolidated Statements of Operations 2 Consolidated Statements of Changes in Members' Equity 3 Consolidated Statements of Cash Flows 4 Notes to Consolidated Financial Statements 5-28 Kreischer Miller ihAdvisory I Audit&AccountingTax Independent Auditors' Report The Board of Directors and Members PFM II, LLC Opinion We have audited the consolidated financial statements of PFM II, LLC and its subsidiaries and affiliate, which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of operations, changes in members' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements. In our opinion,the accompanying consolidated financial statements present fairly,in all material respects, the financial position of PFM II, LLC and its subsidiaries and affiliate as of December 31, 2024 and 2023, and the results of their operations and their cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of PFM II, LLC,and to meet our other ethical responsibilities,in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation,and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement,whether due to fraud or error. In preparing the consolidated financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about PFM II, LLC's ability to continue as a going concern for one year after the date that the consolidated financial statements are issued. 100 Witmer Road,Suite 350,Horsham,PA 19044-2369 215-441-4600 I fax:215-672-8224 I www.kmco.com Auditors'Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted In accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,forgery,intentional omissions,misrepresentations,or the override of internal control. Misstatements are considered material if there is a substantial likelihood that,individually or in the aggregate,they would influence the judgment made by a reasonable user based on the consolidated financial statements. In performing an audit in accordance with GAAS, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error,and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of PFM II, LLC's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the consolidated financial statements. • Conclude whether, in our judgment,there are conditions or events,considered in the aggregate, that raise substantial doubt about PFM II, LLC's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit,significant audit findings, and certain internal control-related matters that we identified during the audit. /((11:4Cek"(Aga( Horsham, Pennsylvania April 8,2025 PFM H, LLC Consolidated Balance Sheets December 31,2024 and 2023 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 10,969,740 $ 5,894,647 Accounts receivable, net of reserve of$415,352 and$315,352, respectively 10,199,119 10,827,683 Work-in-process, net of reserve of$1,175,611 and$1,125,611,respectively 9,469,576 9,049,197 Prepaid expenses and other current assets 2,141,492 2,136,112 Total current assets 32,779,927 27,907,639 Equipment and improvements,net 2,776,730 3,486,882 Right of use assets,net-operating 8,737,403 10,254,460 Intangible assets, net 19,056 118,611 Other assets 910,549 1,107,279 Goodwill,net 10,367,518 11,834,830 Total assets $ 55,591,183 $ 54,709,701 LIABILITIES AND MEMBERS'EQUITY Current liabilities: Line of credit $ 7,000,000 $ - Current portion of long-term debt,net - 965,129 Current portion of subordinated notes payable 1,135,714 651,786 Current portion of lease liabilities-operating 3,010,825 3,145,158 Current portion of accounts payable and accrued expenses 22,457,104 17,279,374 Current portion of deferred revenue 1,825,376 1,776,064 Total current liabilities 35,429,019 23,817,511 Long-term debt, net - 6,938,816 Subordinated notes payable, net of current portion 2,912,500 2,488,214 Lease liabilities, net of current portion-operating 7,694,290 9,339,968 Accounts payable and accrued expenses,net of current portion 1,059,520 1,135,128 Deferred revenue,net of current portion 21,055 21,055 Total liabilities 47,116,384 43,740,692 Members'equity: Members'equity 8,552,375 11,014,361 Non-controlling interest (77,576) (45,352) Total members' equity 8,474,799 10,969,009 Total liabilities and members'equity $ 55,591,183 $ 54,709,701 See accompanying notes to consolidated financial statements. -1- PFM II, LLC Consolidated Statements of Operations For the Years Ended December 31,2024 and 2023 2024 2023 Revenues: Professional and other fees $ 109,178,873 $ 94,665,781 Expenses: Salaries,incentive compensation, and employee benefits 81,032,662 68,186,442 General and administrative 23,029,033 24,566,366 104,061,695 92,752,808 Other income(expense): Interest income 418,831 157,661 Interest expense (807,837) (906,488) Income taxes (1,065,500) (787,839) (1,454,506) (1,536,666) Net income 3,662,672 376,307 Net loss attributable to non-controlling interest 32,224 524 Net income attributable to controlling interest $ 3,694,896 $ 376,831 See accompanying notes to consolidated financial statements. -2- PFM II, LLC Consolidated Statements of Changes in Members' Equity For the Years Ended December 31,2024 and 2023 Non- Total Members' Controlling Members' Equity Interest Equity Balance, December 31, 2022 $ 15,076,598 $ (41,711) $ 15,034,887 Members' contributions 1,993,000 - 1,993,000 Equity-based compensation expense 341,400 - 341,400 Members'distributions (3,973,285) - (3,973,285) Members' redemptions (2,800,183) (3,117) (2,803,300) Net income(loss) 376,831 (524) 376,307 Balance,December 31, 2023 11,014,361 (45,352) 10,969,009 Members'contributions 1,600,000 - 1,600,000 Equity-based compensation expense 421,400 - 421,400 Members'distributions (6,178,282) - (6,178,282) Members' redemptions (2,000,000) - (2,000,000) Net income(loss) 3,694,896 (32,224) 3,662,672 Balance, December 31, 2024 $ 8,552,375 $ (77,576) $ 8,474,799 See accompanying notes to consolidated financial statements. -3- PFM II,LLC Consolidated Statements of Cash Flows For the Years Ended December 31,2024 and 2023 2024 2023 Cash flows from operating activities: Net income $ 3,662,672 $ 376,307 Adjustments to reconcile net income to net cash provided by operating activities: Change in fair value of contingent consideration (115,808) (452,152) Change in fair value of deferred consideration - 181,725 Depreciation and amortization 2,773,638 3,234,722 Amortization of debt issuance costs 177,335 120,208 Amortization of Implementation costs 205,746 205,746 Net change in lease activity-operating (262,954) (257,261) Change in accounts receivable reserve 421,997 170,331 Change in work-in-process reserve 1,086,807 1,352,146 Equity-based compensation expense 421,400 341,400 (Increase)decrease in: Accounts receivable 206,567 (2,075,694) Work-In-process (1,507,186) (3,131,445) Prepaid expenses and other current assets (86,660) 119,888 Other assets (9,016) 87,947 Increase(decrease)in: Accounts payable and accrued expenses 5,217,930 4,131,933 Deferred revenue 49,312 (71,8401 Net cash provided by operating activities 12,241,780 4,333.961 Cash flows from Investing activities: Purchases of equipment and improvements (496,619) (426,836) Acquisition of Mello&Company LLC - (800.0001 Net cash used in investing activities (496,619) (1,226,8361 Cash flows from financing activities: Net advances on line of credit 7,000,000 - Repayments of long-term debt (8,000,000) (1,000,000) Repayments of subordinated notes payable (691,786) (260,000) Members'contributions 1,600,000 1,993,000 Members'distributions (6,178,282) (3,893,285) Members'redemptions (400,0001 (443,3001 Net cash used In financing activities (6.670,068) (3,603,585) Net increase(decrease)in cash and cash equivalents 5,075,093 (496,460) Cash and cash equivalents,beginning of year 5,894,647 6,391,107 Cash and cash equivalents,end of year $ 10,969,740 $ 5,894,647 Supplemental disclosure of cash flow information: Cash paid during the year for: Interest $ 630.502 $ 786.280 Supplemental disclosure of noncash investing and financing activities: The Company accrued distributions of$2,040,000 as of December 31,2024 and 2023. During 2024 and 2023,the Company issued subordinated notes payable for member redemptions of$1,600,000 and$7,360,000,respectively. During 2024,the Company disposed of$2,914,726 of fully depreciated equipment and improvements. In connection with the 2023 acquisition of Mello&Company LLC described in Note 3,PFM Financial Advisors LLC recorded contingent consideration with an acquisition date fair value of$729,000. Supplemental disclosure of lease activity: During 2024 and 2023,the Company recorded lease liabilities-operating and right of use assets-operating of$1,563,202 and$783,204,respectively. See accompanying notes to consolidated financial statements. -4- PFM II, LLC Consolidated Financial Statements December 31, 2023 and 2022 (( Kreischer Miller PFM II, LLC December 31,2023 and 2022 Contents INDEPENDENT AUDITORS' REPORT CONSOLIDATED FINANCIAL STATEMENTS Consolidated Balance Sheets 1 Consolidated Statements of Operations 2 Consolidated Statements of Changes in Members' Equity 3 Consolidated Statements of Cash Flows 4 Notes to Consolidated Financial Statements 5-29 Kreischer Miller Advisory Audit&Accounting Tax Independent Auditors' Report The Board of Directors and Members PFM II, LLC Opinion We have audited the consolidated financial statements of PFM II, LLC and its subsidiaries and affiliate, which comprise the consolidated balance sheets as of December 31, 2023 and 2022, and the related consolidated statements of operations, changes in members' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements. In our opinion,the accompanying consolidated financial statements present fairly, in all material respects, the financial position of PFM II, LLC and its subsidiaries and affiliate as of December 31, 2023 and 2022, and the results of their operations and their cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of PFM II,LLC,and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation,and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement,whether due to fraud or error. In preparing the consolidated financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about PFM II, LLC's ability to continue as a going concern for one year after the date that the consolidated financial statements are issued. 100 Witmer Road,Suite 350,Horsham,PA 19044-2369 215-441-4600 I fax:215-672-8224 I www.kmco.com Auditors'Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement,whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error,as fraud may involve collusion,forgery,intentional omissions,misrepresentations,or the override of internal control. Misstatements are considered material if there is a substantial likelihood that,individually or in the aggregate,they would influence the judgment made by a reasonable user based on the consolidated financial statements. In performing an audit in accordance with GAAS,we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error,and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of PFM II, LLC's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management,as well as evaluate the overall presentation of the consolidated financial statements. • Conclude whether, in our judgment,there are conditions or events,considered in the aggregate, that raise substantial doubt about PFM II, LLC's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit,significant audit findings, and certain internal control-related matters that we identified during the audit. /(1.1/ Ce (/(Zell/1 Horsham,Pennsylvania April 12,2024 PFM II,LIC Consolidated Balance Sheets December 31,2023 and 2022 2023 2022 ASSETS Current assets: Cash and cash equivalents $ 5,894,647 $ 6,391,107 Accounts receivable,net of allowance of$315,352 and$345,352, respectively 10,827,683 8,922,320 Work-in-process,net of allowance of$1,125,611 and$621,247,respectively 9,049,197 7,269,898 Prepaid expenses and other current assets 2,136,112 2,335,124 Total current assets 27,907,639 24,918,449 Equipment and improvements,net 3,486,882 4,531,567 Right of use assets,net-operating 10,254,460 12,165,004 Intangible assets, net 118,611 402,500 Other assets 1,107,279 1,400,972 Goodwill, net 11,834,830 11,785,142 Total assets $ 54,709,701 $ 55,203,634 LIABIUTIES AND MEMBERS'EQUITY Current liabilities: Current portion of long-term debt,net $ 965,129 $ 965,129 Current portion of subordinated notes payable 651,786 160,000 Current portion of lease liabilities-operating 3,145,158 2,746,458 Current portion of accounts payable and accrued expenses 17,279,374 13,141,942 Current portion of deferred revenue 1,776,064 1,847,904 Total current liabilities 23,817,511 18,861,433 Long-term debt,net 6,938,816 7,897,732 Subordinated notes payable, net of current portion 2,488,214 880,000 Lease liabilities,net of current portion-operating 9,339,968 11,906,473 Accounts payable and accrued expenses, net of current portion 1,135,128 602,054 Deferred revenue, net of current portion 21,055 21,055 Total liabilities 43,740,692 40,168,747 i Members'equity: Members'equity 11,014,361 15,076,598 Non-controlling interest (45,352) (41,711) Total members'equity 10,969,009 15,034,887 Total liabilities and members'equity $ 54,709,701 $ 55,203,634 See accompanying notes to consolidated financial statements. -1- PFM II, LLC Consolidated Statements of Operations For the Years Ended December 31,2023 and 2022 2023 2022 Revenues: Professional and other fees $ 94,665,781 $ 86,597,524 Expenses: Salaries,incentive compensation, and employee benefits 68,186,442 60,047,751 General and administrative 24,566,366 25,127,154 92,752,808 85,174,905 Other income(expense): Interest income 157,661 - Interest expense (906,488) (470,434) Income taxes (787,839) (740,491) (1,536,666) (1,210,925) Net income 376,307 211,694 Net loss attributable to non-controlling interest 524 89,083 Net income attributable to controlling interest $ 376,831 $ 300,777 See accompanying notes to consolidated financial statements. -2- PFM II, LLC Consolidated Statements of Changes in Members'Equity For the Years Ended December 31,2023 and 2022 Non- Total Members' Controlling Members' Equity Interest Equity Balance, December 31,2021 $ 16,410,833 $ 47,372 $ 16,458,205 Members'contributions 2,700,000 - 2,700,000 Equity-based compensation expense 180,000 - 180,000 Members'distributions (3,315,012) - (3,315,012) Members' redemptions (1,200,000) - (1,200,000) Net income(loss) 300,777 (89,083) 211,694 Balance,December 31, 2022 15,076,598 (41,711) 15,034,887 Members'contributions 1,993,000 - 1,993,000 Equity-based compensation expense 341,400 - 341,400 Members'distributions (3,973,285) - (3,973,285) Members' redemptions (2,800,183) (3,117) (2,803,300) Net income(loss) 376,831 (524) 376,307 Balance,December 31, 2023 $ 11,014,361 $ (45,352) $ 10,969,009 See accompanying notes to consolidated financial statements. -3- PFM II,LLC Consolidated Statements of Cash Flows For the Years Ended December 31,2023 and 2022 2023 2022 Cash flows from operating activities: Net Income $ 376,307 $ 211,694 Adjustments to reconcile net income to net cash provided by(used in)operating activities: Change in fair value of contingent consideration (452,152) • Change In fair value of deferred consideration 181,725 • Depreciation and amortization 3,234,722 3,014,720 Amortization of debt issuance costs 120,208 115,073 Loss on disposal of equipment and improvements 234,777 Amortization of implementation costs 205,746 205,746 Net change in lease activity-operating (257,261) (743,367) Change in accounts receivable reserve (30,000) 30,000 Change in work-in-process reserve 504,364 Equity-based compensation expense 341,400 180,000 (Increase)decrease in: Accounts receivable (1,875,363) (1,838,146) Work-in-process (2,283,663) (465,140) Prepaid expenses and other current assets 119,888 (310,969) Other assets 87,947 460,196 Increase(decrease)in: Accounts payable and accrued expenses 4,131,933 (2,688,306) Deferred revenue (71,840) (65,439) Net cash provided by(used in)operating activities 4,333,961 (1,159,161) Cash flows from investing activities: Proceeds from disposition of equipment and improvements - 171,417 Purchases of equipment and improvements (426,836) (1,113,653) Acquisition of Mello&Company LLC (800,000) Net cash used in investing activities (1,226,836) (942,236) Cash flows from financing activities: Repayments of long-term debt (1,000,000) (1.000,000) Repayments of subordinated notes payable (260,000) Payment of deferred consideration (1,708,273) Members'contributions 1,993,000 3,710,000 Members'distributions (3,893,285) (2,105,012) Members'redemptions (443,300) (80,000) Net cash used In financing activities (3,603,585) (1,183,285) Net decrease in cash and cash equivalents (496,460) (3,284,682) Cash and cash equivalents,beginning of period 6,391,107 9,675,789 Cash and cash equivalents,end of period $5,894,647 $6,391,107 Supplemental disclosure of cash flow information: Cash paid during the year for: Interest 5 786.280 S 322,722 Supplemental disclosure of noncash investing and financing activities: The Company accrued distributions of$2,040,000 and S1,960,000 as of December 31,2023 and 2022,respectively. In connection with the 2023 acquisition of Melio&Company LLC described in Note 3,PFM Financial Advisors LLC recorded contingent consideration with an acquisition date fair value of$729,000 During 2023,the Company issued subordinated notes payable for member redemptions of$2,360,000. During 2022,the Company issued subordinated notes payable for member redemptions of$1,040,000 and also accrued$80,000 payable in cash. During 2022,the Company recorded tenant improvements totaling$543,495 which reduced right of use assets-operating. Supplemental disclosure of lease activity: During 2023 and 2022,the Company recorded lease liabilities-operating and right of use assets-operating of 5783,204 and$2,409,270,respectively. See accompanying notes to consolidated financial statements. -4- 1735 Market Street 215 567-6100 42''Floor 215 567-4180 fax 1' ' \ Ff m Philadelphia,PA 19103 www.pfm.com PFM FINANCIAL ADVISORS LLC CREDIT INFORMATION Company Information: PFM Financial Advisors LLC Type of Business: Financial Advisory Services 1735 Market Street,42"d Floor Established: January 15, 2016 (Delaware) Philadelphia, PA 19103 Form of Business: Limited Liability Company T: (215) 567-6100 Federal Tax ID#: 81-1642787 F: (215) 567-4180 Dun & Bradstreet#:08-054-4391 Executive Officers: JoAnne Carter, CEO Daniel Hartman, President Cheryl D. Maddox, Secretary Accounts Payable Representative: Alfreda Twyman (Philadelphia Office) T: (215)557-1928 Accounts Receivable Representative: Hilda Marin (Philadelphia Office) T: (215)557-1453 Payment Mailing Address Banking Contact Information PFM Financial Advisors LLC Nora Perry, Relationship Liaison Supervisor, Asst. VP PO Box 65117 M&T Bank Baltimore, MD 21264-5117 One Liberty Place, Suite 3150 1650 Market Street M&T Bank ABA# Philadelphia, PA 19103 022000046 (Wires) T: (215)419-6580 031302955 (ACH) Acct.#9865883681 Credit Reference(s): Foliage Design System Kreischer Miller Granite Federal Express A Muse Mint LLC 100 Witmer Road, Telecommunication 1201 N. Market Street PO Box 7 Suite 350 100 Newport Ave Ext. Wilmington, DE 19801 Cordova, TN 38088 Horsham, PA 19044-2369 Quincy, MA 02171 Contract: Craig Burns T: (901-386-3791 T: (215)441-4600 Contact:Alex Gresham T: (800 )622-1147 T: (877) 847-550 LITIGATION AND LEGAL HISTORY DISCLOSURE REQUIREMENT A. Scope of Disclosure All Proposers must disclose all "material" litigation, claims, legal proceedings, or cases—whether filed, pending, or resolved—during the last five (5) years prior to the solicitation response due date. This requirement applies to: 1. The proposing firm/entity 2. Any parent company, subsidiary, or predecessor organization of the Proposer 3. All principals, owners, officers, directors, or partners of the Proposer 4. Any proposed subcontractors or subconsultants who will perform work under this contract 5. All companies in which the Proposer, or any principal/officer/director thereof, has held an ownership interest or has been listed as a Registered Agent or Officer/Director in the Florida Division of Corporations(SUNBIZ) B. Definition of"Material" Cases A case is considered "material" if it relates, in whole or in part, to any of the following: 1. A similar type of work that the Proposer is seeking to perform for the City under this solicitation 2. An allegation of fraud, negligence, errors and omissions, malpractice, or breach of fiduciary duty against the Proposer or any of its principals or agents who would be performing work under this solicitation 3. The Proposer's default, termination, suspension, failure to perform, or improper performance in connection with any public or private contract 4. The financial condition of the Proposer, including any bankruptcy petition (voluntary or involuntary), receivership, or insolvency proceedings 5. Any criminal proceeding or administrative hearing concerning business-related offenses in which the Proposer or its principals (including officers and directors) were/are defendants or respondents 6. Any cases involving the City of Boynton Beach and Proposer, its principals or agents, or any of the Proposer's proposed subcontractors or subconsultants C. Entity Identification Requirements For the Proposer and each affiliated entity subject to disclosure under Section A above, provide the following information: 1. Company Legal Name 2. Florida Division of Corporations Document Number (SUNBIZ) 3. Federal Employer Identification Number (FEI/EIN) 4. Authorized Persons: Full names and titles of all corporate officers and directors, including President (P), Vice-President (V), Director (D), Trustee (TR), Chairman or Chief Executive Officer (CEO), Secretary (S), and Treasurer (T). If any individual holds multiple positions, indicate each title. Include all surnames and married names for accurate identification. 5. Copies of all Amendments filed with the Florida Division of Corporations (SUNBIZ) reflecting any changes in officers, registered agent, or other material changes 6. Current SUNBIZ Status (must be "Active") 7. Principal Business Address 8. Mailing Address (if different) 9. Registered Agent Name and Address D. Litigation Disclosure Requirements For each material case identified under Section B, the Proposer must provide the following information using the Litigation History Form attached: 1. Party name(s) and relationship to Proposer 2. Case number, case name,and date filed 3. Name of court or administrative tribunal and jurisdiction 4. Type of case (bankruptcy, civil, criminal, administrative) 5. Nature of the dispute or allegations 6. Current status or final disposition 7. Copy of any judgment, settlement agreement,or final order Confidentiality: Redactions of confidential portions of settlement agreements are permitted only upon certification by the Proposer that such redactions are required under the express terms of a pre-existing confidentiality agreement or provision. E.Joint Ventures and Subcontractors 1. If the Proposer is a joint venture, the disclosure requirements apply to the joint venture entity and each constituent member of the joint venture. 2. The Proposer must disclose any and all material cases that exist between the City of Boynton Beach and Proposer, its principals or agents, or any proposed subcontractors or subconsultants during the last five (5)years. F. Compliance and Verification 1. The City reserves the right to audit and verify SUNBIZ records, court records, and other public filings to confirm compliance with this requirement. 2. All information will be verified by the Procurement Division and presented to the evaluation committee as part of the evaluation process. 3. The City will consider a Proposer's litigation history in its review and determination of responsibility. 4. The entity MUST maintain"Active" status in SUNBIZ to be eligible for contract award. G. Consequences of Non-Disclosure 1. Failure to disclose any material case as defined herein, or failure to identify all affiliated entities and provide all requested information, may result in the Proposer being deemed non-responsive and disqualified from consideration. 2. Discovery of any omission,incomplete disclosure,or misrepresentation after contract award may result in immediate contract termination and/or pursuit of other legal remedies available to the City. 3. All disclosures and any omissions will be presented to and reviewed by the evaluation committee. H.Timing of Submission The completed Litigation History Form(s) must be submitted with the Proposer's initial response. If not included with the initial submittal, the Proposer must provide the completed form(s) within three (3) business days of the City's request. Failure to comply within the stated timeframe may result in the Proposer being deemed non-responsive. CERTIFICATION STATEMENT By signing below,the undersigned affirms under penalty of perjury that: 1. All information provided in response to this Litigation and Legal History Disclosure Requirement is true,complete,and accurate to the best of their knowledge. 2. The undersigned has disclosed all material cases and all affiliated entities as defined in this requirement. 3. The undersigned has disclosed all companies in which they, or any partner, principal, officer, or director of the proposing entity, have held ownership interest or have been listed as a Registered Agent or Officer/Director in the State of Florida(SUNBIZ)during the applicable disclosure period. 4. The undersigned understands that failure to fully disclose such information, or the discovery of any omission or misrepresentation, may result in immediate disqualification, contract termination,and/or other remedies as determined by the City. ❑There are no material cases to disclose for this Proposer. ® Material case(s)are disclosed in the attached Litigation History Form(s). Authorized Signature: Sergio Masvidal Printed Name: Managing Director Title: Date: April 27. 2026 CITY OF BOYNTON BEACH LITIGATION HISTORY FORM INSTRUCTIONS: The completed form(s) must be returned with the Proposer's submittal. If not provided with the submittal, the Proposer must submit within three (3) business days of the City's request. Proposer may be deemed non-responsive for failure to fully comply within stated timeframes. Complete one form for each material case.Attach additional forms as necessary. DISCLOSURE STATEMENT(check one): ❑There are no material cases for this Proposer; OR ® Material Case(s) are disclosed below and on attached forms PROPOSER INFORMATION: Proposer Legal Name: PFM Financial Advisors LLC Florida Division of Corporations Document Number(SUNBIZ): M16000004976. Federal Employer Identification Number (FEI/EIN): 81-1642787 I Is this for a: (check type) I If Yes, name of Parent/Subsidiary/Related Entity/Predecessor: ❑ Parent, ❑ Subsidiary, ❑ Other Or No Related Entity, or ❑ Predecessor Firm? I Party I N/A Case Number, Name, N/A—Administrative/Regulatory and Date Filed Name of Court or other N/A tribunal Type of Case Bankruptcy ❑ Civil ❑ Criminal ❑ Administrative/Regulatory Claim or Cause of Action and Brief description of each Civil administrative matter Count Brief description of the Subject Matter and Project see attached Involved Disposition of Case I Pending ❑ Settled ® Dismissed ❑ Relationship to City Solicitation (Attach copy of any applicable Judgment Proposer's Favor ❑ Judgment Against Proposer ❑ Judgment, Settlement Agreement and Satisfaction If Judgment Against, is Judgment Satisfied? ❑ Yes ❑ No of Judgment.) Opposing Counsel Name: Email: N/A Telephone Number: I Proposer Name: PFM Financial Advisors LLC City of Boynton Beach Procurement Division, Revised: October 2025 PFM Financial Advisors LLC is not subject to any current or pending litigation, claims, or legal proceedings. PFM Financial Advisors LLC ("PFMFA") is one of many financial services firms and municipal advisory firms affected by the Securities and Exchange Commission (SEC) investigations of off-channel communications. The firm voluntarily and thoroughly cooperated with the SEC's investigation. On September 17, 2024 the SEC issued an Administrative Order regarding PFMFA(among 11 other municipal advisory firms) for use of text messaging to conduct business, which was not a PFMFA approved electronic communications method and, accordingly, was not captured by PFMFA's systems for recordkeeping purposes. To settle this civil administrative matter, PFMFA agreed, among other things, to pay a fine of $250,000 and to certain undertakings involving written procedures and employee training. None of the violations are for breach of PFMFA's fiduciary duty or involve client services. PFMFA was not required to undertake any further compliance or regulatory actions and is pleased to have this matter resolved and concluded with regard to the firm. GNTY OR. G U c ti TON NON-COLLUSION AFFIDAVIT AND CERTIFICATION OF PROPOSER THIS PAGE IS TO BE COMPLETED AND UPLOADED ONLINE State of Florida County Of Broward Sergio Masvidal , being first duly sworn, deposes and says that: 1) He/She is Managing Director of PFM Financial Advisors LLC , the proposer that (Title) (Name of Corporation or Integrator) has submitted the attached BID: 2) He/She is fully informed respecting the preparation and contents of the attached submittal and of all pertinent circumstances respecting such submittal; 3) By signing and submitting this bid, the BIDDER certifies that this bid is made independently and free from collusion; 4) Further,the said bidder nor any of its officers, partners, owners, agents, representatives, employees or parties in interest, including this affiant, has in any way colluded, conspired, connived, or agreed, directly or indirectly with any other Bidder, integrator or person to submit a collusive or sham BID in connection with the Contract for which the attached BID has been submitted or to refrain from bidding in connection with such Contract, or has in any manner, directly or indirectly, sought by agreement or collusion or communications or conference with any other bidder, integrator or person to fix the price or prices in the attached BID or of any other bidder, or to fix any overhead, profit or cost element of the BID price or the BID price of other proposer or to secure through any collusion, conspiracy, connivance or unlawful agreement any advantage against the City of Boynton Beach or any person interested in the proposed Contract; and 5) The price or prices quoted in the attached bid are fair and proper and are not tainted by any collusion, conspiracy, connivance, or unlawful agreement on the part of the bidder or any of its agents, representatives, owners, employees, or parties in interest, including this affiant. 6) BIDDER shall disclose below, to their best knowledge, any City of Boynton Beach officer or employee, or any relative of any such officer or employee as defined in Section 112.3135(1) (c), Florida Statutes (2022), who is an officer of director or, or has a material interest in, the BIDDER's business,who is in a position to influence this procurement. Any City of Boynton Beach officer or employee who has any input into the writing of specifications or requirements, solicitation of offers, decision to award, evaluation of offers, or any other activity pertinent to this procurement is presumed, for purposes hereof, to be in a position to indirectly own any of the total assets or capital stock of any business entity owned or operated by the BIDDER, or if they otherwise stand to personally gain if the contract is awarded to this BIDDER. 7) Failure to submit this executed statement as part of the bid shall make the bid non-responsive and not eligible for award consideration. In the event the BIDDER does not indicate any names, the CITY shall interpret this to mean that the BIDDER has indicated that no such relationships exist. Failure of a BIDDER to disclose any THIS PAGE IS TO BE SUBMITTED ALONG WITH THE BID FOR THE BID PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE relationship described herein shall be reason for termination of bid or award,whichever is applicable, with no time to cure. NAME RELATIONSHIP Witnesses: BIDDER: (W27/212610-115/01E1 SP��ru �'1as✓i�ul 7.yi o+rnnozsmnAM Et Signed: Typed name:Omar Charbanou Sergio Masvidal Name: lkrrenaB.Davis TiOg, %R7f20261O26AMEt Title: Managing Director Typed name:Dorrena B. Davis STATE OF Florida COUNTY OF Broward The foregoing instrument was acknowledged before me, by means of 0 physical presence or Vonline notarization, this 27th day of April , 2026, by Sergio Masvidal , who is personally known to me or who has produced as identification. Subscribed and sworn to before me This 27th day of April , 20 26 i�'1 CYNTHIA SILVA ?�"� ^`: Nota y NLNc-wf.d vlonm L .�i'. �' Commbdon f NN 60)763 �u�/rlQ St(✓U 0427,2026 10 31 AM Et `OM1' My Comm.Espf.s Nov 11,2026 Notary Public(Signature) Online OnliNotary Public.This notarial as Involved the Cynthia Silva Commission HH60 763 use ofonlin..uude/v communication technology. November 11, 2028 Notarization facilitated by SIGNiXE9 My Commission Expires: THIS PAGE IS TO BE SUBMITTED ALONG WITH THE BID FOR THE BID PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE to e2 4,0,.....O AFFIDAVIT OF COMPLIANCE WITH ANTI-HUMAN TRAFFICKING LAWS TO BE COMPLETED AND UPLOADED ONLINE In accordance with section 787.06 (13), Florida Statutes, the undersigned, on behalf of the entity listed below("Entity"), hereby attests under penalty of perjury that: Entity does not use coercion for labor or services as defined in Section 787.06, Florida Statutes, entitled "Human Trafficking." Ser9w 91lasvidat 1113 04327/1026 10 17 AM El Date: April 27, . 20 26 Signed: Entity: PFM Financial Advisors LLC Name: Sergio Masvidal Title: Managing Director STATE OF Florida COUNTY OF Broward The foregoing instrument was acknowledged before me, by means of ❑ physical presence or 6/online notarization, this 27th day of April , 2026 , by Sergio Masvidal , as Managing Director for PFM Financial Advisors LLC , who is personally known to me or who has produced as identification. Notary Public Signature: (yr/ha S`l�a OeQ7Q0261031AMEl State of Florida at Large (Seal) Print Name: Cynthia Silva Commission HH603763 T i;i11 f CYNTHIA SUVA i!it FFr Notary Public-State of Florida ; -( Convnission a NH 603763 "v.—' My Comm.Expires Nov tl,2026 My commission expires: November 11,2028 Online Notary Public This notanel act involved the use of online audio/video communication technology Notarization facilitated by SIGNIXQ l_ CERTIFICATION PURSUANT TO FLORIDA STATUTE§287.135 TO BE COMPLETED AND UPLOADED ONLINE Sergio Masvidal, Managing Director , on behalf of PFM Financial Advisors LLC certify Print Name and Title Company Name that PFM Financial Advisors LLC does not: Company Name 1. Participate in a boycott of Israel; and 2. Is not on the Scrutinized Companies that Boycott Israel List; and 3. Is not on the Scrutinized Companies with Activities in Sudan List; and 4. Is not on the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List; and 5. Has not engaged in business operations in Syria. Submitting a false certification shall be deemed a material breach of contract.The City shall provide notice, in writing,to the Vendor of the City's determination concerning the false certification.The Vendor shall have ninety (90) calendar days following receipt of the notice to respond in writing and demonstrate that the determination of false certification was made in error. If the Vendor does not demonstrate that the City's determination of false certification was made in error then the City shall have the right to terminate the contract and seek civil remedies pursuant to Florida Statute§ 287.135. Section 287.135, Florida Statutes, prohibits the City from: 1)Contracting with companies for goods or services if at the time of bidding on, submitting a proposal for, or entering into or renewing a contract if the company is on the Scrutinized Companies that Boycott Israel List, created pursuant to Section 215.4725, F.S. or is engaged in a boycott of Israel; and 2) Contracting with companies, for goods or services that are on either the Scrutinized Companies with activities in the Iran Petroleum Energy Sector List, created pursuant to s. 215.473, or are engaged in business operations in Syria. As the person authorized to sign on behalf of the Vendor, I hereby certify that the company identified above in the section entitled 'Vendor Name" does not participate in any boycott of Israel, is not listed on the Scrutinized Companies that Boycott Israel List, is not listed on either the Scrutinized Companies with activities in the Iran Petroleum Energy Sector List, and is not engaged in business operations in Syria. I understand that pursuant to section 287.135, Florida Statutes, the submission of a false certification may subject the company to civil penalties, attorney's fees, and/or costs. I further understand that any contract with the City for goods or services may be terminated at the option of the City if the company is found to have submitted a false certification or has been placed on the Scrutinized Companies with Activities in Sudan List or the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List. PFM Financial Advisors LLC SeTo 9Nas°&L 0 0C27rz02e tO n AM EI COMPANY NAME SIGNATURE Sergio Masvidal Managing Director PRINT NAME TITLE April 27, 2026 DATE State of Florida Broward County The foregoing instrument was acknowledged before me, by means of ❑ physical presence orVonline notarization, this 27th day of April 2026 by Sergio Masvidal who is personally known to me or who has produced as identification. Subscribed and sworn to before me This 27th day of April , 2026 / -'L it'-'' ;' CYNTHIA$IIVA CyrNhla SCI�a. ', 0 1272026 10 31 AM El ' Notary Public-State of Florida 'i%-d Commission a HH 603763 My Comm.Expires Nov 11,20281 it Notary Public(Signature) Cynthia Silva Commission HH603763 Online Notary Public.This notarial act Involved the use ofonline audio/M.communication technolopy. November 11, 2028 Notarization facilitated by SIGNIXb- My Commission Expires: E-VERIFY FORM UNDER SECTION 448.095, FLORIDA STATUTES TO BE COMPLETED AND UPLOADED ONLINE Project Name: STRATEGIC P3 FINANCIAL ADVISORY SERVICES Solicitation No.: RFP No. 26-053R 1. Definitions: "CONTRACTOR"means a person or entity that has entered or is attempting to enter into a contract with a public employer to provide labor, supplies, or services to such employer in exchange for salary, wages, or other remuneration. "CONTRACTOR" includes, but is not limited to, a vendor or consultant. "SUB-CONTRACTOR"means a person or entity that provides labor, supplies, or services to or for a CONTRACTOR or another SUB-CONTRACTOR in exchange for salary,wages, or other remuneration. "E-Verify system" means an Internet-based system operated by the United States Department of Homeland Security that allows participating employers to electronically verify the employment eligibility of newly hired employees. 2. Effective January 1, 2021, CONTRACTORS, shall register with and use the E-Verify system in order to verify the work authorization status of all newly hired employees. CONTRACTOR shall register for and utilize the U.S. Department of Homeland Security's E-Verify System to verify the employment eligibility of: a) All persons employed by a CONTRACTOR to perform employment duties within Florida during the term of the contract; and b) All persons (including sub-vendors/sub-consultants/sub-CONTRACTORS) assigned by CONTRACTOR to perform work pursuant to the contract with the City of Boynton Beach. The CONTRACTOR acknowledges and agrees that registration and use of the U.S. Department of Homeland Security's E-Verify System during the term of the contract is a condition of the contract with the City of Boynton Beach; and c) Should vendor become the successful CONTRACTOR awarded for the above-named project, by entering into the contract, the CONTRACTOR shall comply with the provisions of Section 448.095, Fla. Stat., "Employment Eligibility,"as amended from time to time. This includes, but is not limited to registration and utilization of the E-Verify System to verify the work authorization status of all newly hired employees.CONTRACTOR shall also require all SUB-CONTRACTORS to provide an affidavit attesting that the SUB-CONTRACTOR does not employ, contract with, or subcontract with, an unauthorized alien. The CONTRACTOR shall maintain a copy of such affidavit for the duration of the contract. 3. Contract Termination a) If the City has a good faith belief that a person or entity with which it is contracting has knowingly violated s. 448.09(1) Fla. Stat., the contract shall be terminated. b) If the City has a good faith belief that a SUB-CONTRACTOR knowingly violated s. 448.095 (2), but the CONTRACTOR otherwise complied with s. 448.095 (2) Fla. Stat., shall promptly notify the CONTRACTOR and order the CONTRACTOR to immediately terminate the contract with the SUB-CONTRACTOR. c) A contract terminated under subparagraph a) or b) is not a breach of contract and may not be considered as such. d) Any challenge to termination under this provision must be filed in the Circuit Court no later than 20 calendar days after the date of termination. e) If the contract is terminated for a violation of the statute by the CONTRACTOR, the CONTRACTOR may not be awarded a public contract for a period of 1 year after the date of termination. Company Name: PFM ����F��Financial Advisors LLC Se (o .AfaSYl(1ld� Yob' OW7,2020 1017 MEI Authorized Signature: '� Print Name: Sergio Masvidal Title Managing Director Date: 4/27/26 Phone: 786.671.7480 STATE OF Florida ) COUNTY OF Broward ) The foregoing instrument was acknowledged before me by means of o physical presence or q/online notarization, this 27th day of April 2026by Sergio Masvidal on behalf of PFM Financial Advisors LLC He/she is personally known to me or has produced as identification. Cynthia �) �}/��.{ &&h 3—/ 01(27120261031 MI El ... CYNTHIA \� NOTARY PUBLIC Notary Public-Stat.of Florida 4.M1 Commission I NN 603763 Ny Comm.Eapkaa Nw,,,2021 Cynthia Silva HH 603763 °nem Notary Public.This notarial ad invdvad the (Name of Notary Typed, Printed or Stamped) us*of online audio/video communication tachnolopy. Notarization facilitated by SIGNiX40 Title or Rank Serial number, if any firr J AFFIDAVIT OF COMPLIANCE WITH FOREIGN ENTITY LAWS TO BE COMPLETED AND UPLOADED ONLINE The undersigned, on behalf of the entity listed below("Entity"), hereby attests under penalty of perjury as follows: 1. Entity is not owned by the government of a foreign country of concern as defined in Section 287.138, Florida Statutes. (Source: §287.138(2)(a), Florida Statutes) 2. The government of a foreign country of concern does not have a controlling interest in Entity. (Source: §287.138(2)(b), Florida Statutes) 3. Entity is not organized under the laws of, and does not have a principal place of business in, a foreign country of concern. (Source: § 287.138(2)(c), Florida Statutes) 4. The undersigned is authorized to execute this affidavit on behalf of Entity. Bayo, atiskial1,1 04/172020 1017 AM El Date: April 27, , 20 Signed: Entity: PFM Financial Advisors LLC Name: Sergio Masvidal Title: Managing Director STATE OF Florida COUNTY OF Broward The foregoing instrument was acknowledged before me, by means of❑ physical presence oil/online notarization, this 27th day of April , 20 26 , by Sergio Masvidal as Managing Director for PFM Financial Advisors LLC , who is personally kQQyvn to me or who has produced as identification. Cynthia 5 V ,ru 0472720261031AMEf Notary Public Signature: State of Florida at Large (Seal) Print Name: Cynthia Silva HH 603763 .444-2k1 . CYNTHIA SILVA � Notary PubH3 aTCon S NA 653766 A0'Comm.Expires Nov 1 t,20311 OnlinoNohry Public.This nobnel act involved dl. My commission expires: November 11,2028 N .ofn.ntim.f.aours vad,do cSmaon t.h000g. 01'1,0,, °:-;-_17 ,t' O titon 06 ANTI-KICKBACK AFFIDAVIT TO BE COMPLETED AND UPLOADED ONLINE STATE OF FLORIDA ) : SS COUNTY OF PALM BEACH ) I, the undersigned hereby duly sworn, depose and say that no portion of the sum herein submitted will be paid to any employees of the City of Boynton Beach as a commission, kickback, reward of gift, directly or indirectly by me or any member of my integrator or by an officer of the corporation. S.'- (i A'L %t1, 0426,2026 10.31 AM EDT By: y NAME - SIGNATURE STATE OF Florida ) COUNTY OF Broward ) The foregoing document was acknowledged before me, by means of ❑ physical presence or° online notarization, this 28th day of April , 20 26 by Sergio Masvidal , as Managing Director of PFM Financial Advisors LLC Who is personally known to me or who has produced as identification. Sworn and subscribed before me this r 28th day of April , 20 26 Printed Information: ;i! CY11THIASILVA Sergio Masvidal ' ^t'^fi. Hotery Public-State of Florida fie Commission d HH 603763 NAME My Comm.Expire Nov 11,2028 Online Notary Public.This notarial act involved the use of online a"di°"""°communication technology Managing Director Notarization facilitated by SIGNiXQ TITLE Cyia Si(.Ja 083 D 04,28,2026 1033 AM EDT J ,/ NOTARY PUBLIC, State of Florida at Large Cynthia Silva Commission HH603763 PFM Financial Advisors LLC COMPANY "OFFICIAL NOTARY SEAL" STAMP pfm Insurance Statement PFM Financial Advisors LLC ("PFM")has a complete insurance program, including property, casualty, general liability, automobile liability and workers compensation. PFM maintains Professional (E&O)/Cyber Liability coverage which total $5 million single loss/aggregate. Our Professional/Cyber Liability policies are a "claims made" policy and our General Liability policy claims would be made by occurrence. Deductibles/SIR: Automobile $100 comprehensive & $1,000 collision General Liability$0 Professional (E&O)/Cyber Liability $250,000 Crime $50,000 Insurance Company&AM Best Rating Professional Liability (E&O) AIG Specialty Insurance Company; (A; Stable) Cyber Liability AIG Specialty Insurance Company(A; Stable) Crime Berkley Regional Insurance Company; (A+; Stable) General Liability The Phoenix Insurance Company; (A++ Stable) Automobile Liability St. Paul Protective Insurance Company (A++ Stable) Excess /Umbrella Liability Travelers Property Casualty Company of America; (A++ Stable) Workers Compensation Travelers Casualty Ins Co of America; (A++ Stable) & Employers Liability ACOR Er CERTIFICATE OF LIABILITY INSURANCE DATE(MMIDD/VVYY) 12n/2026 12/5/2025 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER,AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER Lockton Companies,LLC a/tem PFMCertRequests DBA Lockton Insurance Brokers,LLC in CA PHONE I FAX CA license#0F 15767 (AIC,No,Ext): (AIC.No): E-MAIL PFMCertRe uests lockton.com 1185 Avenue of the Americas,Ste.2010 ADDRESS: q New York NY 10036 NBURER(S)AFFORDING COVERAGE I NAIC f (646)572-7300 INSURER A:The Phoenix Insurance Comnanv I 25623 INSURED PFM Financial Advisors LLC INSURER B:St. Paul Protective Insurance Company I 19224 1735 Market St F142 INSURER c:Travelers Property Casualty Company of America 25674 Philadelphia PA 19103 INSURER D:Travelers Casualty Ins Co of America 19046 INSURER E:AIG Specialty Insurance Company 26883 INSURER F: COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: XXXXXXX THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES.LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. ITNSR POLICY EXP (NSD gyp R TYPE OF INSURANCE DL SUER POLICY NUMBER I jM/DD /YOLICY YYYI (MMIDOIYYYY) LIMITS A X COMMERCIAL GENERAL LIABILITY H-630-B9715676-PHX-25 12/7/2025 12/7/2026 EACH OCCURRENCE $ 1,000,000 ' DAMAGE TO RENTED CLAIMS-MADE 1 X OCCUR ', PREMISES Ea occurrence) $ 1,000,000 MED EXP(Any one person) $ 5,000 PERSONAL&ADV INJURY $ 1,000,000 GENII AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $ 2.000.000 X POLICY X CT X LOC PRODUCTS-COMP/OP AGG j $ 2,000,000 OTHER: B AUTOMOBILE LIABIUTY BA-B97 1 70 1 8-25-N2-G 12/7/2025 12/7/2026 COMBINED SINGLE LIMIT $ Ea aecidenn 1,000,000 X ANY AUTO I BODILY INJURY(Per person) $ XXXXXXX OWNED SCHEDULED BODILY INJURY(Per accident)'$ AUTOS ONLY AUTOS XXXXXXX HIRED NON-OWNED PROPERTY DAMAGE $ XXXXXXX AUTOS ONLY AUTOS ONLY (Per accident) sXXXXXXX c X UMBRELLA LIAB X OCCUR CUP-B9793549-25-N2 12/7/2025 12/7/2026 EACH OCCURRENCE $ 20,000,000 EXCESS LIAB CLAIMS-MADE AGGREGATE $ 20.000.000 DED RETENTION$ $ XXXXXXX WORKERS COMPENSATION PER 17 X I STATUTE TRH- AND EMPLOYERS'LIABILITY YIN UB-B9717817 1/1/2026 1/1/2027 ANY PROPRIETOR/PARTNER/EXECUTIVEN NIA I E.L.EACH ACCIDENT $ 1,000,000 OFFICER/MEMBER EXCLUDED? (Mandatory In NH) E.L.DISEASE-EA EMPLOYEE $ 1,000,000 If yes,describe under r1FSCRIPTIfIN OF f1PFR4TIMIS M4gp E.L.DISEASE-POLICY LIMIT $ 1.000.000 E Cyber/lech E&O 01-420-47-31 12/7/2025 12/7/2026 Llimit:$ M $250K DESCRIPTION OF OPERATIONS I LOCATIONS/VEHICLES (ACORD 101,Additional Remarks Schedule,may be attached If more space Is required) CERTIFICATE HOLDER CANCELLATION See Attachments SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. EVIDENCE OF COVERAGE f�(7����y1�—( AUTHORIZED REPR(�St.�i I ATIVE 1-. �C.%'-' 1 \ ©1988-2015 ACORD CORPORATION.'I rights reserved. ACORD 25(2016/03) The ACORD name and logo are registered marks of ACORD UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 OFFICE OF THE SECRETARY May 4,2016 IN THE MA 1"1ER OF: ORDER GRANTING PFM Financial Advisors LLC REGISTRATION PURSUANT Two Logan Square, Suite 1600 TO SECTION 15B(a)(2)OF 18th&Arch Streets THE SECURITIES EXCHANGE Philadelphia,PA 19103-2700 ACT OF 1934 SEC FILE NO.: 867-02030 Application Completion Date: May 3,2016 The above-named Applicant has completed its application with the Commission for registration as a municipal advisor pursuant to Section 15B(a)(2)of the Securities Exchange Act of 1934(the"Act")on the above-referenced application completion date. The Commission finds that the application contains the information prescribed under Section 15B(a)(2)of the Act and the rules thereunder. The Commission has not passed on the accuracy or adequacy of the information, and the effectiveness of Applicant's registration does not imply Commission approval or disapproval of Applicant's registration. Accordingly, it is ORDERED,pursuant to Section 15B(a)(2)of the Act, that the Applicant's registration be,and hereby is, granted,effective forthwith. For the Commission, by the Office of Compliance Inspections and Examinations, pursuant to delegated authority. Brent J.Fields, Secretary MSRB Registration-Form A-12: Preview TYPE OF FORM FILING Amendment FIRM/SOLE PROPRIETORSHIP IDENTIFIERS MSRB ID: K1162 Firm's Legal Name: PFM Financial Advisors LLC Doing-Business-As(DBA)Name: Municipal Advisor SEC ID: 867-02030 CRD Number: Legal Entity Identifier: Are you a successor firm?If so,please provide prior SEC and MSRB identification number,as applicable.: No SEC ID: MSRB ID: BUSINESS INFORMATION Firm Address: 1735 Market Street,42nd Floor City: Philadelphia State: PA Zip: 19103 Firm Website: www.pfm.com TYPE OF ORGANIZATION Organization Type: Limited Liability Company(LLC)City: Wilmington State: DE BUSINESS ACTIVITIES Municipal Advisor I`j Issuance Advice Guaranteed Investment Contracts Advice t{Investment Advice-Proceeds of Municipal Securities Eo-Investment Advice-Funds of Municipal Entity E Municipal Derivatives Advice Ir4 Solicitation of Business-Investment Advisory Municipal Escrow Investment Advice L. Municipal Escrow Investment Brokerage re,Solicitation of Business-Other than Investment Advisory r Municipal Advisor/Underwriter Selection Advice DESIGNATED CONTACTS Master Account Administrator Name Phone Email Gloria Wells (215)567-6100 wellsg@pfm.com Primary Regulatory Contact for Municipal Advisors Name Phone Email JoAnne Carter (215)567-6100 carter)@pfm.com Billing Contact Name Phone Email Alfreda Twyman (215)557-1928 twymana@pfm.com Compliance Contact Name Phone Email Cheryl D.Maddox (215)557-6100 Ext. 1239 maddoxc@pfm.com Primary Data Quality Contact Name Phone Email Gloria Wells (215)567-6100 wellsg@pfm.com Optional Regulatory Contact for Municipal Advisors Name Phone Email Daniel Hartman (215)567-6100 hartmand@pfm.com Optional Data Quality Contact No contact designated. Optional Technical Contact No contact designated. ©2025 Municipal Securities Rulemaking Board (10.0.1.71) State of Florida Department of State I certify from the records of this office that PFM FINANCIAL ADVISORS LLC is a Delaware limited liability company authorized to transact business in the State of Florida, qualified on June 21, 2016. The document number of this limited liability company is M16000004976. I further certify that said limited liability company has paid all fees due this office through December 31, 2022, that its most recent annual report was filed on April 27, 2022, and that its status is active. I further certify that said limited liability company has not filed a Certificate of Withdrawal. Given under my hand and the Great Seal of the State of Florida at Tallahassee,the Capital, this the Twenty-fourth day of April, 2023 w �= Secretary o f State Tracking Number:0171749571CU To authenticate this certificate,visit the following site,enter this number,and then follow the instructions displayed. https://services.sunbiz.org/Filings/CertificateOfStatus/CertificateAuthentication ff..'_ cs.56,; A .4Z . . FLORIDA DEPARTMENT OF STATE Division of Corporations June 22, 2016 CORPORATE ACCESS, INC. , Qualification documents for PFM FINANCIAL ADVISORS LLC were filed on June 21, 2016, and assigned document number M16000004976. Please refer to this number whenever corresponding with this office. Your limited liability company is authorized to transact business in Florida as of the file date. To maintain "active" status with the Division of Corporations, an annual report must be filed yearly between January 1st and May 1st beginning in the year following the file date or effective date indicated above. If the annual report is not filed by May 1st, a $400 late fee will be added. A Federal Employer Identification Number (FEI/EIN) will be required when this report is filed. Apply today with the IRS online at: https://sa.www4.irs.gov/modiein/individual/index.jsp. Please notify this office if the limited liability company address changes. Should you have any questions regarding this matter, please contact this office at the address given below. Stacey M Warren Regulatory Specialist II Registration/Qualification Section Division of Corporations Letter Number: 616A00013115 www.sunbiz.org Division of Corporations - P.O. BOX 6327 -Tallahassee, Florida 32314 Proof of Local Boynton Beach Business Status — Not Applicable 1 pfm City of Boynton Beach , FL Request for Proposal for Strategic P3 Financial Advisory Services RFP# 26-053R Y O p\, - V ~TOefr N April 29, 2026 PFM Financial Advisors LLC 2222 Ponce De Leon 200 South Orange Avenue 3rd FL Suite 760 Coral Gables, FL 33134 Orlando, FL 32801 Sergio Masvidal James "Jay" Glover Managing Director Managing Director Email: masvidals©pfm.com Email: gloverj©pfm.com Office: 786.671.7480 Office: 407.406.5760 Fax No.: N/A Fax No.: 407.648.1323 April 29, 2026 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services RFP# 26-053R Table of Contents I. Technical Proposal 1 Minimum Qualifications 1 B. Proposer's Qualifications: Company Culture/Structure and Experience 6 C. Technical/Operational Proposal 13 D. Financial Proposal Requirements 32 E. Litigation Disclosure Requirement 33 F. References 34 Exceptions by Proposer 35 Sub-Consulting 36 Digital Forms to be Completed with each Proposal 36 Forms that must be uploaded to the document upload section 36 Price Proposal Sheet 37 PFM Financial 2222 Ponce De Leon Blvd. 786.671.7480 Advisors LLC 3rd Floor pfm.com Coral Gables, Florida 33134 ABOUT PFM PFM is the marketing name for a group of affiliated companies providing a range of services. All services are provided through separate agreements with each company. This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation. Financial advisory services are provided by PFM Financial Advisors LLC, a registered municipal advisor with the Securities and Exchange Commission (SEC)and the Municipal Securities Rulemaking Board (MSRB)under the Dodd-Frank Act of 2010. Swap advisory services are provided by PFM Swap Advisors LLC which is registered as a municipal advisor with both the MSRB and SEC under the Dodd-Frank Act of 2010, and as a commodity trading advisor with the Commodity Futures Trading Commission. Additional applicable regulatory information is available upon request. Consulting services are provided through PFM Group Consulting LLC. PFM's financial modeling platform for strategic forecasting is provided through PFM Solutions LLC. For more information regarding PFM's services or entities, please visit www.Dfm.com. April 29, 2026 Andrew Rozwadowski City of Boynton Beach Procurement Department 1481 West 15th Street Riviera Beach, FL 33404 RE: Request for Proposal for Strategic P3 Financial Advisory Services— RFP# 26-053R Dear Ms. Williams: PFM Financial Advisors LLC (PFM) is pleased to submit our proposal to serve as a strategic P3 Advisor to the City of Boynton Beach (the City). As the top ranked financial advisor in Florida and nationally, as well as serving as the City's financial advisor since 2013, we pf m believe that PFM is the optimal choice for the City's P3 Advisor. We prioritize Florida and provide services from our local offices in Coral Gables and Orlando. Our extensive experience working with you, your peer cities, and other municipalities in South Florida and 2222 Ponce De Leon Blvd. our significant resources enable us to serve as a proactive extension of your staff. As a 3'Floor P3 advisor, we have worked or are currently working on several projects similar to those Coral Gables, FL 33134 under consideration by the City, such as a municipal complex redevelopment (Fort 786.671.7480 Lauderdale, Miami), Hotel and Housing redevelopment (Miami Beach, Pompano Beach), affordable housing (Palm Beach County, Miami), and real estate and economic 200 South Orange Avenue redevelopment (Vero Beach, Port St. Lucie, Riviera Beach). Suite 760 Orlando. Florida 32801 407.648 2208 Team Overview. PFM's roots in the municipal finance industry go back over 50 years.' As a firm that focuses on strategic insight and forward-thinking execution, we understand the pfm.com importance of a strong partnership. Our team is dedicated to delivering innovative and results-driven solutions, ensuring that your objectives are met with precision and efficiency. We believe that our deep industry knowledge combined with our local presence positions us to provide tailored expertise that no other firm offers. PFM's team includes dedicated Florida municipal and P3 experience with the resources and expertise of a large firm. Sergio Masvidal, Managing Director,who leads PFM's coverage of South Florida projects across all sectors, will serve as day-to-day contact and ensure that Riviera Beach is a firm-wide priority client. Sergio will have the full breadth of PFM's P3 and municipality groups including Jay Glover, Managing Director, Ryan Conway, Managing Director, Kevin Plenzler, Director in PFM's Real Estate practice, Scott Shearer, Managing Director leading PFM Utility P3 practice, Pete Varona, Senior Managing Consultant, and Alex Theissen, Director in PFM's P3 practice. Alternative Delivery and P3 Experience. PFM has worked with municipal clients on alternative delivery or P3 implementation on a wide variety of asset types. More importantly to the City, PFM views each project holistically. Unlike traditional P3 advisors, PFM evaluates multiple project delivery methods and custom-tailor's solutions for our issuer clients to meet the City's objectives. We have applied our methodology to various projects, including, but are not limited to: utility concessions, commercial office, retail, athletic facilities, hospitality, parking, and market rate, workforce, and affordable housing. PFM has clients throughout the United States and many within Florida to which we have provided this expertise. Further information and case studies are provided in section I. Public Financial Management, Inc. (PFM, Inc.)was founded in 1975 and as of June 1, 2016, the registered municipal advisory services historically offered through former affiliate PFM.Inc.are now offered through PFM Financial Advisors LLC(PFM) City of Boynton Beach April 29, 2026 Page 2 Select PFM Florida Municipal P3 Clients2 Ft. Lauderdale West Palm Miami Beach St. Petersburg Beach Vero Beach Daytona Delray Beach Jacksonville Beach Dania Pompano Homestead Port St. Lucie Beach Miami Boca Raton North Port Alachua County Project Understanding. Our proactive approach and market presence both nationally and locally means we anticipate project needs in advance.We work to create a strong partnership with our clients which enables us to assist the City with specific requests to potential private partners, as the more specific the request is the more likely the City is to receive proposals that match its objectives. Additionally, we view plans of finance through a broad lens and utilize our market experience to craft strategies most applicable to the project and the public sector partner. We leverage data-driven analysis to optimize performance and drive long- term success for our governmental partners. PFM is experienced in providing the full scope of P3 services for projects,including economic forecasting,cash flow modeling, ROI and VfM calculations, project and participant qualifications, and can deliver the scope necessary for the City to properly evaluate opportunities. Value Proposition. PFM has ranked as the#1 ranked financial advisor in the country for the last 31 years and in Florida for the last 26 years. The depth of our expertise in the municipal sector complements our experience with P3 and alternative delivery projects. Our public sector clients have relied on PFM for sound financial advice over the last three decades. We propose that this comprehensive understanding of the sector means that we can deliver the best value to the public partner. We do not believe in innovation for the sake of innovation. We work with our public sector partners to ensure that the objectives are priority and not driven towards a specific outcome for the sake of innovation. Our value proposition resides in the strength of our firm, our long history supporting the public sector, and the technical expertise we have amassed over the last five decades. We are prepared and enthusiastic about the opportunity to provide P3 Advisory Services for the City. We are ready to start today! Sincerely, PFM Financial Advisors LLC iAagtrii Sergio Masvidal Ja es "Jay" Glover Managing Director Managing Director 786-671-7480/masvidalseofm.com 407-406-5760/aloveriaofm.com 2222 Ponce De Leon Blvd., 3rd Floor 200 S. Orange Avenue, Suite 760 Coral Gables, FL 33134 Orlando, FL 32801 25elect client list as of March 15,2026,is for Informational purposes only and does not represent an endorsement or testimonial by clients of PFM's financial advisory services. I. Technical Proposal Minimum Qualifications Respondents must demonstrate the following: A. Licensing Requirements Qualified professional staff(MBA, CPA, etc.) Municipal Advisor Registration Documentation PFM is registered as a municipal advisor with the Securities Exchange Commission (SEC) and Municipal Securities Rulemaking Board (MSRB)and is aware and undertakes requirements for individual professional registrations as well. Provided below is a link to the Security Exchange Commission's EDGAR system where both the Form MA(for the Firm) and Form MA-I's (for individual MA Representatives) can be retrieved. https://www.sec.aov/ca i-bin/browse- edaar?company=&match=&CIK=0001669517&filenum=&State=&Country=&SIC=&owner=exclude&Find= Find+Companies&action=aetcompanv Registered Rep File Number Film Number Sergio Masvidal 868-05146 23822788 James "Jay" Glover 868-05146 25576926 Pedro "Pete"Varano 868-05146 25525103 Kevin Plenzler 868-05146 23568056 Mara Lugo Varona 868-05146 25521611 James "Jay" Kineon 868-05146 241530683 Scott Shearer 868-05146 23820958 Ryan Conway 868-05146 23820508 Alex Theissen 868-05146 231007262 PFM's registration numbers are SEC File No: 867-02030 and MSRB ID Number K1162, Financial Advisor. PFM Financial Advisors LLC is licensed to do business in Florida under document number M16000004976. 1 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R B. Years of Experience Minimum three (3) years of P3 advisory experience or equivalent National Practice We believe that PFM's leading qualifications are evident in our ranking as the nation's top financial advisor in number of transactions and dollar amount for 31 consecutive years. Over the last 3 years, we served as financial advisor on 2,138 publicly offered bond transactions totaling over$264 billion. P3 Advisory projects with a public financing component, either through direct or conduit issuance, are included within our rankings. Additional P3 projects that solely relied on private sector financing would be in addition to these figures and further detailed herein. 2023 -2025 Overall Municipal New Issues Municipal Financial Advisor Ranking- Full Credit to Each Financial Advisor # 1 Source'lore() a1 Issues bin Millions PFM Financial Advisors LLC 2.138 264,074 Public Resources Advisory Group Inc 419 - 180 783 Hilltop Securities Inc 1,810 99,043 / Frasca&Associates LLC 113 - 79,842 Acacia Financial Group Inc 349 _ 46.124 Estrada Hinojosa&Co Inc 166 MEM 43.491 Municipal Capital Markets Group Inc 66 MIMI 43.066 Ranked#r for Kaufman Hall&Associates Inc 176 ' - 39.442 31 Piper Sandler&Co 510 31,990 consecutive Caine Mitter&Associates Inc 319 29.058 years 'RsskM fry IMnr,s,terms nl na,armnnl as of December 31 2025 Florida Practice PFM has the largest financial advisory group in Florida and has been ranked #1 for 26 consecutive years. We have continued to grow our Florida practice, adding clients each year while maintaining the high level of service to our clients. Over the last 3 years,we served as financial advisor on 195 Florida publicly offered long-term bond issues totaling over$25.6 billion. Similar to our National top-ranking, PFM's Florida practice includes a specific focus on P3 projects. We have advised on some of the largest P3 projects in the state, for example: the Port of Miami Tunnel and Prospect Lake Water Treatment Plant, among others. 2023 -2025 Florida Municipal New Issues Municipal Financial Advisor Ranking- Full Credit to Each Financial Advisor Source'Ipreo #Issues $in Millions PFM Financial Advisors LLC 195 25,678 Public Resources Advisory Group Inc 53 4421 Kaufman Hall&Associates Inc 12 3 986 Hilltop Securities Inc 23 , 2,801 Ford&Associates Inc 22 id 2,283 Caine Mitter&Associates Inc 16 1111 1,670 Ranked#1 Raymond James& Associates 4 ■ 1,619 in Florida for Janney Montgomery Scott LLC 2 a 862 26 Acacia Financial Group Inc 1 1772 Building Hope Services LLC 19 I 583 consecutive years 'Ranked by Ipreo,',terms of lax-{.05W par er,o,pl as of Davonaxer 31.2025 2 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services 1 RFP# 26-053R 0 C. Expertise of Proposer Florida Statute§255.065 expertise Florida Statute§255.065,which governs Public-Private Partnerships(P3s), places significant emphasis on the proposer's demonstrated expertise as a core evaluation criterion. PFM has a track record of successfully working with our issuer clients in developing the necessary requests for proposals/qualifications should the City determine that an unsolicited proposal has merit and chooses to start the clock on receiving competing proposals. Our experience is certainly focused on the financial analysis, including evaluation of the method of financing and capital stack. However, we also have experience guiding issuers through the full spectrum of P3 considerations, including a clear understanding of lifecycle cost analysis, risk allocation, and long-term asset performance. Our experience aligns with the statute's intent to ensure that private entities bring not just capital,but also technical proficiency,operational discipline,and innovation to public infrastructure delivery.This includes assembling multidisciplinary teams, navigating regulatory frameworks, and executing projects that meet both performance benchmarks and public interest objectives. In essence, our expertise supports the City in meeting the statute's goal of delivering value-driven, efficiently managed projects through capable and accountable proposers. 3 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R 11101 D.Minimum Project Experience Three(3)relevant P3 or equivalent infrastructure finance projects Delivery Model Project Outcome Project Name and (e.g.DBFOM, Role(s)of Team Project Value Scope of Work Location DBF, Members and Timeline Performed (e.g.on-time delivery, Concession) operational status,ke)" innovation) City of Fort DBOM P3 Advisor& Approximately Replacement of Water The City closed the P3 Lauderdale,FL Financial Advisor $300,000. Treatment Plant via transaction approximately Linda Short,Finance Timeline 24 months competitive P3 procurement. 18 months after bid date. PFM's tasks included Funding phase 1 closed in Director evaluation of unsolicited October 2023($500mm). 954.828.5267 proposal as well as additional The transaction was proposals received during the awarded"Best P3 Utility IshorUBdortlauderdale open 90-day period;review Project of 2023"by the P3 of proposed plan of finance: Bulletin. negotiating with the private equity lender and syndicate banking team regarding terms of financing;structuring the financing plan to be consistent with existing lending covenants;and ultimately assisting the City with its component of the financing. City of Vero Beach, DBF P3 Advisor and Approximately P3 procurement for PFM reviewed the FL Financial Advisor $350.000 redevelopment of proposed redevelopment Jason H Jeffries, Timeline ongoing decommissioned utility plant plan.conducted market AICP g g located on the intercoastal studies to determine the waterway. feasibility of the plan, Planning and provided recommendations Development Four primary tasks:Analysis to modify the plan which Director of marketability and financial were accepted by the feasibility;lead RFO and ITN; Client and advised on the 772.978.4552 lead prequalification process. request for information. iieffnes(o)cvob.orc support analysis of developer PFM continues to assist the proposals in response to City in the advancement of RFQ/ITN. its proposed P3. 4 City of Boynton Beach,FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R S George Mason DBFOM P3 Advisor Approximately The University owns the land PFM served as financial University $500,000 underlying the project and advisor to George Mason entered into a ground lease University on this$232 Gene Crouch Timeline:30 months with a private developer. The million Public-Private Vice President and University has leased back a partnership for a Treasurer portion of the project from the collaborative research developer building. PFM's role 703.463-0305 included,but was not wcrouch2na omu.edu limited to,advising on the: procurement of potential private development partners,evaluation of various ownership and financing structures: review,comment and negotiation of key business terms included in all legal agreements establishing the partnership;review and negotiation of the project budget and pro forma,and; approval from various key stakeholders.Reached financial close in Fall 2022. 5 City of Boynton Beach,FL Request for Proposal for Strategic P3 Financial Advisory Services(RFP#26-053R B. Proposer's Qualifications: Company Culture/Structure and Experience Proposer shall complete and submit the Proposer's Qualification Statement. a. Company Profile Number of years in business, ownership structure, and number of employees. PFM was founded in 1975 with the mission of providing independent financial advice to state and local governments, governmental agencies and authorities in the debt issuance process and undertaking capital planning and budgeting.3 Today, PFM has one of the largest financial advisory teams in the public finance industry, maintaining an expansive national presence. PFM currently has more than 300 employees located in 30 offices and locations across the United States.4 PFM maintains the largest financial advisory practice in Florida, with 18 financial advisory professionals,which include 6 Managing Directors/Partners, 4 Directors, 3 Senior Managing Consultants, and 5 Analysts. This means we will continue to provide the resources to be effective partners in the areas of importance to the City. And specifically leverage the experience of our project managers with the expertise of our Public-Private Partnership practice to provide the City with a comprehensive advisory approach. This local experience and knowledge supplement our national practice, allowing us to continue to bring best-in-class service to the City of Boynton Beach. • • •.•i• • du ma an • OVER 300 EMPLOYEES PFM's Coral Gables office will have full responsibility for the engagement with Boynton Beach, and the City will also have access to PFM's extensive national resources as needed. Offices to Provide Service Corporate Headquarters Coral Gables Orlando Philadelphia PFM Financial Advisors LLC PFM Financial Advisors LLC PFM Financial Advisors LLC 2222 Ponce De Leon Blvd. 200 South Orange Avenue 1735 Market Street, 42"d Floor 3'd Floor Suite 760 Philadelphia, PA 19103 Coral Gables, FL 33134 Orlando, FL 32801 'Public Financial Management, Inc. (PFM, Inc.) was founded in 1975 and as of June 1, 2016, the registered municipal advisory services historically offered through former affiliate PFM.Inc.are now offered through PFM Financial Advisors LLC(PFM) i Number of employees.offices and locations estimated as of March 15.2026. 6 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R 0 Independent P3 Advice from your Fiduciary As clients' needs have evolved and expanded, PFM has developed a wide range of specialized services to assist clients. Importantly, PFM specifically operates as the leading municipal advisor that understands municipal finance,with a specialization in Public Private Partnerships. For the City,this means that we will weigh all of your options for project delivery, rather than being solely focused on a PPP approach even if that isn't the optimal approach.This is very different from our competitors. PFM's goal is to serve as Riviera Beach's strategic partner to help achieve your specific goals, inclusive of a wholistic view of the opportunities available to the City. • PFM has extensive experience in designing and executing creative financing structures, including Public Private Partnerships (P3). These transactions utilize combinations of special assessments, tax increments,and impact fees to achieve performance and lower costs.We have pioneered synthetic sales taxes called Public Improvement Fees (PIF) to help fund infrastructure for hotels and other commercial projects. PFM is currently working on P3s with Miami Beach(hotel),Vero Beach(waterfront redevelopment), Boca Raton(city hall/downtown)and Daytona Beach (fire station). A couple of years ago we assisted Riviera Beach with evaluating P3 financing alternatives for Fire Stations #86 and #88, ultimately concluding that the City would save significant money by leveraging the City's access to low-cost funding through the capital markets to fund the projects, rather than utilizing a P3 partner for financing.This again speaks to our comprehensive approach to project delivery. • PFMGC's Economic and Real Estate Consulting practice provides a broad range of services, including special assessment methodology(such as ad valorem,non-ad valorem,stormwater,and fire), market feasibility, economic forecasting,economic impact analysis,and fiscal impact analysis. PFM is working with the City of West Palm Beach in the evaluation of an unsolicited P3 proposal for a land swap and development of a municipal asset by a private developer. PFM is working with the City of Fort Lauderdale to review private bids to redevelop a municipal parking lot. PFM's work includes an evaluation of each respondent's proposed project plan, and the financial impact to the City. PFM is also working with the City on the redevelopment of a new City Hall building. As described above, our work with the City includes a full evaluation of delivery options, including P35. 'Services provided by PFM affiliates are offered pursuant to separate agreements,including separate scope and fees. City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R b. Organizational Structure Submit an organizational chart illustrating reporting lines and the division of responsibilities for all staff assigned to this engagement. For each team member, provide a detailed description of their role, responsibilities, relevant professional experience, and educational background. PFM Financial Advisors LLC and its affiliates are indirect, wholly-owned subsidiaries of a holding company known as PFM II, LLC. This holding company is 100% owned by the firm's Managing Directors, who set the firm's strategic direction and manage specific practice areas. The core financial advisory services will be provided by PFM Financial Advisors LLC and will consist of capital planning, transaction management, debt portfolio optimization, rating strategy, and debt and financial policy development, among other services. The County will also have access to the affiliates of PFM that provide additional services as outlined below.6 PFM PFM Financial Advisors LLC PFM Group Consulting LLC PFM Swap Advisors LLC PFM Solutions LLC • Financial Advisory • Fiscal Planning&Budgeting • Swap&Derivatives Products • Synario Software • Debt Management and Bond • Organizational Turnarounds Advisory Synopsis Software Pricing Optimization • Workforce Strategies • SwapViewer • Capital Structure Consulting • Retirement and Post-Employment • Risk Management Advisory Consulting • Rating Agency/Credit • Health and Human Services Enhancement Advisory Consulting • Public-Private Partnerships • Equity in Budgeting • SLGS • Justice&Safety Finance • Investor Relations • K-12 Schools Consulting Treasury Consulting • Organizational Treasury Review • Banking Program Evaluation 'Services provided by PFM affiliates are offered pursuant to separate agreements.scope,and fees 8 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R c. SUNBIZ Proof of authorization (SUNBIZ)from the Florida Secretary of State to transact business in the State from the Proposer. 2025 FOREIGN LIMITED LIABILITY COMPANY AMENDED ANNUAL FILED REPORT Jun 25. 2025 DOCUMENT#M16000004976 Secretary of State Entity Name:PFM FINANCIAL ADVISORS LLC 591 1655028CC Current Principal Place of Business: 1735 MARKET STREET 42ND FLOOR PHILADELPHIA PA 19103 Current Mailing Address: 1735 MARKET STREET 42ND FLOOR PHILADELPHIA PA 19103 US FEI Number:81-1642787 Certificate of Status Desired: No Name and Address of Current Registered Agent: REGISTERED AGENT SOLUTIONS INC 2894 REMINGTON GREEN LANE SUITE A TALLAHASSEE.FL 32308 US The oboe named erviy stbnrts We starenKni kr the purpose d dwyng a regsereo office a regsterea agent a tote in Re Sure of Fiords SIGNATURE Electrorrc Spnature of Regrstred Agent Date Authorized Person(s)Detail: Tete PRESIDENT Tete SECRETARY Name HARTMAN DANIEL Name MADDOX.CHERYL Address 1735 MARKET STREET Address 1735 MARKET STREET 42ND FLOOR 42ND FLOOR Coy-Stare-Zp PHILADELPHIA PA 19103 Cary-State-2v PHILADELPHIA PA 19103 The CEO Tele MANAGER Name CARTER JOANNE Name GLOVER.JAMES W Address 1735 MARKET STREET Address 1735 MARKET STREET 421413 FLOOR 42ND FLOOR CeyStare•Zp PHILADELPHIA PA 19103 Cay-State-ZIp PHILADELPHIA PA 10103 Tele MANAGER Tele MANAGER Name MASV1DAL SERGIO Name SCARPINATO HOPE Address 1735 MARKET STREET Address 1735 MARKET STREET 42ND FLOOR 42ND FLOOR Crty-State-Zp PHILADELPHIA PA 19103 CrtyState-Zp PHILADELPHIA PA 19103 Tele MANAGER Tele MANAGER Name NIEDFELDT.JEREMY Name WILDER BRENT D Address 1735 MARKET STREET Address 1735 MARKET STREET 4211)FLOOR 42ND FLOOR Cey State-Zp PHILADELPHIA PA 19103 Cay-Stere-Zed PHILADELPHIA PA 19103 Continues on page 2 I rent,QTY Mir Te eeom.r e+aocaec a ms TO&T a t.CKmeM TOOL a true a a aceuem a+o M ry e nrenc swwe aur haw the ssme ego ORO as a rwwe✓oe, be M sea',wawa reem*er er manage,ype R+Nee meat,carom,a N rece,e-a tutee eweerese set e.t.a*M TDM as pew..ee OrNOer tot,ft.*Resort ate M m�Now MOM,eeTt.a 0,•,etc Mrem r!e.Oeut'Mt 1.Y...TO SIGNATURE CHERYL MADDOX SECRETARY 06/252025 Bectronc SlartattreorSwengAuhonzedPersuedsiDetall Date Authorized Personls)Detail Continued: Tr ie MANAGER Trde CHIEF ADMINISTRATIVE OFFICER Name CASE.WILLIAM Nan,* BERKE MONIQUE P Address 1735 MARKET STREET Address 1735 MARKET STREET 4243 FLOOR 42ND FLOOR Crry-State-Lp: PHILADELPHIA PA 10.03 Crry-State-Ler PHILADELPHIA PA 19103 9 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R d. Relevant Experience Following are Florida case studies that demonstrate our experience negotiating with private partners.' Each case study serves as evidence of PFM's attention and eagerness to support clients whether developing or reacting to solutions that best serve their needs. CASE STUDY: Vero Beach Redevelopment Plan. ... - PFM serves as financial advisor to Vero Beach, and ^'-" "K our affiliate, PFM Group Consulting LLC's Real Estate "a , ,�<Y� - Group was retained to provide an opinion on the '' • �"' Y : r marketability and financial feasibility of the City's$150 ,. , million redevelopment plan for a 38-acre waterfronti‘si.44.L. - �' ,. ' -�a '•. `` -q„q `. ,.;� ', {sro ertwhich was the site of an electric utilit lant. . .- ' We assisted the City in the RFP to procure a Ji. eo`• ,�;.Y%' development partner and are currently working with ` _. ',Cr;•ys?'f ` ,-' by the City to analyze the four proposals. All of the , � �� �� , designs keep elements of the historic power plant in �..e place and include a hotel, restaurants, retail, and N -..,, t, public space. The four proposers recently made presentations to the City and PFM representatives. CASE STUDY: City of Fort Lauderdale, FL. Public-Private Partnership. Prospect Lake Water Treatment Plant. PFM has served as the Financial Advisor to the City of Fort Lauderdale, FL since 2018. In the course of our engagement with the City, PFM assisted with the evaluation of proposals to construct a new Water Treatment Plant via a Public-Private Partnership. Ultimately this resulted in a unique agreement that provides all of the benefits of an alternative delivery structure with lower cost of capital than traditional P3s. The City's FiveAsh Water Treatment Plant had reached its useful life and the City was seeking alternative means to upgrade its infrastructure. The City had evaluated a number of traditional alternatives when it was approached by a private consortium seeking to provide a Design-Build-Operate-Finance-Maintain ("DBOFM") alternative to the City. Following Florida's Public-Private Partnership ("P3") statutes, the City received proposals from four (4) teams of private firms seeking to engage in a long-term P3 arrangement. The City proactively determined its priorities and criteria for evaluating each of the proposals, including the experience and capacity of each team, the risk transfer profile,technical aspects and financial terms. Such analysis included a holistic comparison to the City's in-house project delivery option. Once the City determined the project delivery alternative and selected the proposer to move forward with the negotiation phase, PFM actively worked alongside the City and its outside counsel to evaluate and negotiate the risk transfer and details of the financial terms with the selected proposer. The private consortium intended to finance the project using a combination of their own balance sheet and debt lenders. However, when compared with the City's own cost of capital, the private financing option suggested a higher projected cost of capital. Additionally, while P3 alternatives are sometimes characterized as "off balance sheet" financing, PFM identified the treatment within GASB, credit agency guidance, and how this agreement would fit within the existing Master Bond Resolution. Effectively, any extended contractual arrangement between a governmental entity and an operator is treated as a debt obligation and the credit agencies / auditors incorporate such payments into debt ratios in their analysis. Understanding the significant cost differential as well as this treatment, PFM assisted the City in negotiating revised financing terms for the agreement. The goal was to maintain the risk transfer aspects of the project 'Case studies provided throughout this proposal are for informational purposes only and do not represent an endorsement or testimonial by clients of PFM's financial advisory services. Case study results were dependent upon the client's circumstances and market conditions at the time of the transactions and are not a guarantee of future performance results 10 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R that were important to the City, such as cost certainty, construction timing, and operational delivery, while lowering the financing cost and ultimate rate payer impact by using the City's strong credit rating and tax- exempt status. Further, negotiating the financing to be within the City's control also removed a potential point for additional return on equity. Key aspects of the revised P3 structure include: • City financing 75%of the project cost up-front and 25%of the remaining project costs at the point that the new Water Treatment Plant was operational and passed all water quality checks from regulatory agencies and City officials. o 75%was financed using the City's existing Water and Sewer Revenue Bond lien at a TIC of 4.80% based on Aa1/AA+credit ratings. o 25%of the project cost is maintained by the private sector,and upon final approval of the completed project, a 30-year taxable subordinate note will be issued to the project team with a 6.00%taxable fixed-rate coupon. This eventual note is subordinate to the City's Water and Sewer Revenue Bond lien. The subordinate note is optionally callable at par at any time. • The entirety of the Availability Payment (all components of the Design-Build-Operate-Maintain costs) were subordinated to the City's existing Water and Sewer Bonds. This was a vast improvement from the initial proposal to include the Availability Payment("AP")as an operating expense. Doing so would have decreased the Net Revenues and required greater rate increases in order to provide debt service coverage on the existing bonds (125% rate covenant). Instead, the City only needs to set rates to comply with 125% coverage on Senior Bonds, and to meet all remaining subordinate obligations (including the AP). The P3 agreement was signed in March of 2023 and the private consortium immediately began work on the new Water Treatment Plant. The City reached financial close on the Series 2023 Bonds in October of 2023. The new Water Treatment Plant is expected to be in operation in 2026. In November of 2023, the transaction was awarded as "Best P3 Utility Project of 2023" by the P3 Bulletin. CASE STUDY City of Miami Beach and Miami Beach Redevelopment Agency—Convention Center Hotel Public-Private Partnership The City of Miami Beach, Florida (the "City") entered into a Development and Ground Lease Agreement (the"Lease")with MB Mixed Use Investment, LLC (the"Developer")in 2018 for the private development of an 800-key hotel associated with the convention center(the "Project"). After the Lease was executed, the market environment for"Big Box" hotels was challenged due to COVID-19, increased interest rates and inflationary pressures on construction costs, which resulted in the Developer asserting an economic force majeure. In 2024, the Developer requested a grant from the Miami Beach Redevelopment Agency (the "RDA")in order to achieve financial close. At that time, PFM was engaged to review the Developer's Project pro-forma, confirm certain operating assumptions and identify opportunities for the RDA to be reimbursed for a potential grant. Upon review, PFM determined that the Developer's assumptions related to hotel occupancy, Annual Daily Rate ("ADR") and revenue per available room ("RevPAR")were consistent with data for comparable hotels. Assumptions throughout the pro-forma were generally consistent with what other convention center hotels were experiencing. PFM also reviewed the plan of finance proposed by the Developer, which included a construction loan and equity. The projected return requirements, primarily related to the equity's cash on cash return, were determined to be reasonable and supported their conclusion that there was a need for additional capital in order to achieve financial close. Finally, PFM advised the City and RDA on negotiations with the Developer to provide financial return to the RDA for providing the grant. PFM's review of the pro-forma helped to identify capacity for the Project to provide annual payments to the RDA for a period of time after stabilization, as well as the inclusion of a capital event participation fee to the RDA in the event the Developer sold the Project to a third party during the term of the ground lease. Negotiations among the parties were successful, and the project achieved groundbreaking in May 2025 with an anticipated open in late 2027. 11 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R e. Applicable Insurance Submit current proof of General and Professional Liability Insurance Certificate of Insurance (COI). Insurance Statement PFM Financial Advisors LLC ("PFM") has a complete insurance program, including property, casualty, general liability, automobile liability and workers compensation. PFM maintains Professional (E&O)/Cyber Liability coverage which total $5 million single loss/aggregate. Our Professional/Cyber Liability policies are a "claims made" policy and our General Liability policy claims would be made by occurrence. Deductibles/SIR: Automobile $100 comprehensive &$1,000 collision General Liability$0 Professional (E&O)/Cyber Liability$250,000 Crime $50,000 Insurance Company & AM Best Rating Professional Liability (E&O) AIG Specialty Insurance Company; (A; Stable) Cyber Liability AIG Specialty Insurance Company (A; Stable) Crime Berkley Regional Insurance Company; (A+; Stable) General Liability The Phoenix Insurance Company; (A++ Stable) Automobile Liability St. Paul Protective Insurance Company (A++ Stable) Excess/Umbrella Liability Travelers Property Casualty Company of America; (A++ Stable) Workers Compensation Travelers Casualty Ins Co of America; (A++ Stable) & Employers Liability PFM's Evidence of Insurance has been uploaded in the portal under Document upload 6. 12 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R C. Technical / Operational Proposal a. Sample Work Product: Proposer shall provide a comparable redacted engagement that demonstrates a value-for-money analysis or financial model summary. Please find redacted samples of the VfM /financial model work products in Document Upload 2. b. Understanding of the Scope of Work: - Proposer needs to demonstrate its understanding of the City's specific P3 objectives, challenges, and procurement environment. This separates firms that read the RFP carefully from those submitting boilerplate responses. Our team has a clear and practical understanding of the City's objectives in procuring independent P3 advisory services. Similar to our other issuer clients, the City is not seeking a transactional supporter, but rather an experienced, technically rigorous advisor that assists the administration to safeguard public interests while enabling well-structured partnerships. We recognize that the City's priority is to evaluate P3 opportunities with discipline, ensuring each project demonstrates financial feasibility, appropriate risk transfer, and long-term value to residents; all while maintaining full control over procurement, negotiations, and final decision-making.The City of Boynton Beach is not simply seeking a vendor to run financial models. From our experience serving issuers in Florida and nationally, the City is seeking a trusted, independent voice that can stand with the City to evaluate proposals from sophisticated private sector counterparties, protect the public interest, and help City leadership make consequential decisions with confidence. We have read this RFP carefully, and we understand several things that a boilerplate response would miss: First, the independence requirement is paramount. The RFP uses the word "independent" repeatedly and deliberately. We interpret this as the City desiring an advisor without business development interests tied to any private developer, lender, or P3 sponsor who might submit proposals. PFM approaches every engagement holistically, through the lens of our public sector clients, and evaluates them not with the goal of entering into a P3 agreement, but rather with the goal of achieving the City's objectives at a cost-efficient manner. Our recommendations are never colored by a an end-goal to "Create a P3" or desire to please a future fee-paying client on the private side of the table. Second, the task-order structure reflects long-term relationship. The as-needed, task-order-based model signals that Boynton Beach would like a comprehensive P3 evaluation framework, not just a single deal. PFM is currently assisting the City of Fort Lauderdale to create just that. The City would be best served by an advisor with institutional knowledge of Boynton Beach's financial position, priorities, and risk tolerance. Third, §255.065 compliance is a threshold requirement. Florida's P3 statute creates specific procedural, disclosure, and reporting obligations that govern how municipalities may solicit, evaluate, and execute P3 agreements. Any financial advisor serving Boynton Beach must be thoroughly versed in this framework. This begins with the unsolicited proposal process,the required public interest determination, and the mandatory financial and performance oversight provisions. P3's tend to be competitive by nature, and compliance failures can expose the City to legal challenge or political liability. The table below provides a summary outline of our understanding of each component within the scope of services. 13 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Section A: We recognize that P3 proposers arrive with financial projections optimized to Financial make their proposals look attractive. Our role is to serve as the City's "stress- Feasibility Analysis tester," independently validating projected revenues, scrutinizing operating cost assumptions, and evaluating lifecycle cost estimates against comparable municipal projects. The goal of this service is to arm the City with its own financial model to measure a project. Section B: Best practice relies on more than a single-point forecast. Following on the Financial Modeling financial feasibility analysis, we work with the City to develop independent and Scenario scenario frameworks such as a base case and stress scenarios that illuminate Analysis how each proposed P3 structure performs under varying assumptions. The sensitivity analyses should identify which variables pose the greatest fiscal risk to the City. Section C: Review The City may encounter a range of deal structures—ground leases, of P3 Structures concession agreements, availability payment models, DBFOM arrangements, and hybrid structures. We understand the financial mechanics and risk profiles of each. Critically, we know from experience that the structure a private partner proposes is rarely the structure that most benefits the City. We will use a holistic lens to reframe or renegotiate terms to align with the objectives of the City stakeholders. Section D: Our team includes professionals with direct experience advising Florida Compliance and municipalities on P3 statutory compliance. We understand that financial Regulatory Review compliance review is not simply a checklist exercise and that it requires coordinated analysis of funding structures, financial disclosures. and contractual guarantees to identify potential exposure points. Section E: Due Private sector partners vary enormously in financial strength, equity depth, and Diligence and creditworthiness. We will assist the City to assess each proposer's financial Financial capacity. We routinely work with the City's auditing team to review financial Validation statements. evaluate funding commitments, assess the creditworthiness of equity sponsors and lenders, and identify any red flags that a proposed financing structure may pose. Section F: Value- A P3 structure is generally measured on its ability to deliver better value than for-Money Analysis traditional public procurement. We will work alongside the City to conduct transparent VfM analyses that compare the risk-adjusted cost of P3 delivery against a more traditional public sector solution. Ultimately this should provide City leadership with a defensible, documented basis for the chosen delivery method. Section G: We see our advisory role as proactive, not reactive. Beyond analyzing what is in Advisory and front of the City, we will bring market intelligence about how comparable Florida Strategic municipalities have structured similar deals, what terms are market-standard Recommendations versus developer-favorable, and where the City has negotiating leverage. Section H: When the City sits across the table from a private partner's legal and financial Negotiation team, it deserves equally sophisticated support. We will provide real-time Support financial analysis during negotiations, evaluate the implications of revised proposals, and help City staff distinguish between concessions that are acceptable and those that shift unacceptable long-term risk onto the public. 14 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R 0 Our Understanding of Boynton Beach's Specific Context Boynton Beach is a growing South Florida municipality navigating the opportunities and complexities that come with that growth.The City's Development Portfolio published by the Economic Development Division provides context for the City's current growth profile. P3 structures are being pitched to all of our South Florida issuer clients with a similar profile as a suggested means of (1) spurring economic development projects, such as the City's Town Square project, and (2) providing solutions to manage infrastructure demands against constrained capital budgets. However, P3 projects should not be viewed as a one-size- fits-all solution and should be measured against all of the options available to a highly-rated City such as Boynton Beach. • The City's residents and Commission expect fiscal prudence and transparency in how public assets and revenues are leveraged • The South Florida development market is active and sophisticated, meaning private proposers will be well-represented and financially capable • The City requires an advisor who can communicate complex financial analysis clearly to elected officials, City staff, and the public. Not just to the financial professionals. • Flexibility in deliverables, as noted in the RFP, reflects the City's pragmatic recognition that each P3 project will have unique characteristics. PFM is prepared to tailor our work product accordingly. Our position is that P3 agreements have a place in the municipal space for certain project types and cases. And in the instances that a P3 solution may merit consideration, the components of the agreement (each of the DBFOM)need to be evaluated against their individual and specific risk transfer and ability to provide the City with a streamlined solution.We approach each analysis from the issuer's perspective. For example, does a specific method of project delivery achieve the City's objective at the highest value from financial profile to quality of product to speed of delivery. If a P3 arrangement is under consideration,we recommend that issuer's consider each component discretely: Design Finally, we do not submit this response as a template.We submit it as a demonstration that we have read the City of Boynton Beach's RFP with the same care we will bring to every task order. PFM will approach this engagement in our fiduciary capacity to you, the City. We understand that the scope requires an integrated advisory approach that aligns statutory compliance, City objectives, and market realities. This includes developing defensible financial models that test lifecycle costs, revenue assumptions, and sensitivity scenarios;conducting rigorous risk identification and allocation frameworks to avoid unfavorable long-term obligations; and providing objective proposal evaluations that distinguish between technically compliant and truly value-driven submissions. Equally important,we recognize the City's need for real-time, task-order-based support that can flex across multiple P3 initiatives, each with different asset classes, revenue structures, and stakeholder considerations. PFM's broad experience supported by a team with sector-specific expertise will serve the City in this capacity. 15 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R c. Technical Approach & Methodology a detailed narrative of how the firm will approach each core service area, including value-for-money and public sector comparator analysis, risk identification, quantification, and allocation framework, financial modeling and deal structure evaluation, market sounding and investor/developer engagement support, and procurement and contract negotiation advisory. PFM evaluates value-for-money by assessing alternative project delivery, financing, and operating models against a public sector comparator baseline. Our analysis considers the full life-cycle cost of a project, including upfront capital investment, operating and maintenance costs, financing costs, and residual value. We evaluate traditional public delivery structures alongside alternatives such as leasing, design-build, and public-private partnerships to determine whether alternative approaches can deliver efficiencies without introducing disproportionate risk. The public sector comparator analysis is tailored to the municipalities accounting standards, governance structure, and credit profile. PFM incorporates rating agency and accounting treatment considerations to ensure that apparent savings are not offset by unfavorable balance sheet or credit impacts. Sensitivity analysis is used to test assumptions around cost escalation, timing, and demand to assess the robustness of value-for-money conclusions. Several of the case studies provided below are related to higher education projects, as they have been at the forefront of P3 engagement and we find this experience relevant to all governmental issuers. Key Performance Indicator Targets- University of New Enaland: UNIVERSITY OF PFM has been financial advisor to the University of New England("UNE) !UNE.] NEW ENGLAND since 2019. The University has three campus – Biddeford (Maine), Portland (Maine)and Tangier (Morocco). In 2020, PFM worked with the University to update its Financial Strategic Plan ("FSP").The FSP establishes Key Performance Indicators ("KPI) targets, approved by the Board, that are monitored each year when assembling capital and operating budgets. To come up with the KPI targets PFM worked with the University to run and stress test multi-year projections. PFM performed stress testing across baseline, underperformance, and overperformance scenarios, identifying potential areas of financial volatility and illustrating how key metrics could perform under varying economic conditions. Following the FSP, the University established new KPIs focused on operating margin and balance sheet targets. In 2021, following the completion of the FSP, PFM worked with the University on debt financing involving a $100 mm project to relocate the University medical school. In 2023, based on strong operating performance and a growing balance sheet the University received an upgrade in its Moody's rating from A2 to Al. In 2024 PFM underwent a refresh of the FSP with a focus on FY 2025-29. This refresh of the FSP was more heavily weighted toward the expected increase in capital spending over the next 5 years. Once again, PFM partnered with the University to stress test the University's projections under different scenarios. Based on the updated FSP the University modified its KPIs(reducing the targeted operating margin,adding an EBIDA target). In 2025 the University issued $60 mm in bonds for additional capital projects for the Portland and Biddeford campuses. I Risk Identification, Quantification, and Allocation Framework PFM applies a structured risk framework to identify,quantify, and allocate risks across major initiatives. Our approach deconstructs projects into core components—governance, design and delivery, operations, and finance—and evaluates risks within each category. These include construction risk, demand and revenue risk, operating cost variability, financing risk, regulatory considerations, and long-term asset condition. 16 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R PFM quantifies identified risks through scenario analysis and stress testing within financial models. We assess which party is best positioned to manage each risk and evaluate whether proposed structures result in meaningful risk transfer or retained exposure. This framework allows stakeholders to clearly understand tradeoffs between risk, cost, and control and supports informed decisions regarding procurement and contract structure. IL Financial Modeling and Deal Structure Evaluation PFM develops bespoke financial models to evaluate project feasibility and alternative deal structures. Our models are designed to reflect institution-specific assumptions and incorporate income statement, balance sheet, cash flow, and liquidity impacts. We assess the implications of different ownership, financing, and operating structures on key credit metrics and internal performance indicators. Scenario analysis is integral to our approach. PFM models base-case, downside, and upside scenarios to evaluate affordability, resilience, and sensitivity to changes in key assumptions such as interest rates, construction timing, operating costs, and demand.All assumptions are documented to ensure transparency and to allow management to update and refine the model over time as conditions evolve. Relevant PFM client engagements include: M&A/ Non-Profit Conversion — University of Idaho Universityofldaho In 2023, the University of Idaho ("Uofl") entered into an asset purchase agreement for the purpose of affiliating with the University of Phoenix("UofP")through a newly formed non- profit corporation (Fourth Three Education, Inc or"43E"), of which the Uofl would be the sole member. PFM served as financial advisor to the Uofl and 43E. The agreed upon purchase price for the acquisition was $550M, which did not take into consideration$200M in cash that would remain on the balance sheet at 43E upon closing of the transaction. The ability to close under the asset purchase agreement was subject to several conditions precedent, including the ability of 43E to issue approximately $685M to fund the acquisition price, required reserves and costs of issuance through a leveraged buy-out. After execution of the asset purchase agreement, both Uofl and UofP's accreditors affirmed their accreditations of the respective institutions under the potential change in control, and the Department of Education conducted an Abbreviated Pre-Acquisition Review ("APAR"). The working group was successful in developing financial documents to the point where 43E was able to receive a private rating from one of the major rating agencies. Ultimately, the transaction was not consummated due to legal and political challenges with the State of Idaho's legislature and attorney general. In our role as financial advisor, PFM advised on the proposed ownership and finance structure of the affiliation. PFM provided analysis to the State Board of Education related to the potential financial risks of the transaction and potential implications of the University's credit ratings and was available to respond to questions from the State legislature. PFM provided financial analysis of the proposed affiliation and led the efforts for the proposed acquisition financing. Real Estate Acquisition— The University of North Carolina at Charlotte / The Edae In 2024, PFM was engaged to advise the University on the acquisition of a 15- acre parcel of land adjacent to campus that included 720 beds of purpose-build CHARLOTTE student housing. The property was owned by a private developer, who engaged CBRE as listing agent. PFM advised the University on the advantages and considerations of the acquisition, detailing valuation approaches to support a purchase price, identifying UNC System policies that impacted how the University could effectuate a purchase, and crafting a plan of finance for the acquisition. The Foundation of the University of North Carolina at Charlotte, Inc. purchased the property, which it financed with a bank loan hedged by a fixed payor swap. 17 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R III. Market Sounding and Investor/ Developer Engagement Support PFM supports market sounding efforts to inform project structuring and procurement strategy. Drawing on our experience and national network, we assist clients in assessing investor and developer appetite, understanding return requirements, and identifying potential barriers to market participation. This engagement may include informal outreach or structured market feedback processes, as appropriate. PFM evaluates financial proposals and provides financial diligence on prospective partners, focusing on alignment with the institution's objectives, risk tolerance, and long-term value. Market feedback is incorporated into the financial analysis to ensure proposed structures are achievable while maintaining competitive tension and protecting public-sector interests. IV. Procurement and Contract Negotiation Advisory PFM provides advisory support throughout procurement and contract negotiation processes. Our role includes assisting with the development of procurement documents, evaluating financial components of proposals, and advising during negotiations on key commercial and financial terms. We focus on ensuring consistency between modeled assumptions and contractual obligations, particularly with respect to risk allocation, payment mechanisms, and performance standards. During negotiations, PFM advises on provisions that may impact long-term financial exposure, liquidity, accounting treatment, or credit metrics. Our objective is to support the client in achieving contractual outcomes that are financially sustainable, operationally practical, and aligned with institutional governance and policy constraints. 18 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R 0 d. Proposed Work Plan &Schedule: Proposer shall provide a phased work plan tied to the City's anticipated procurement timeline, including key milestones, deliverables by phase, and how the firm will adapt if the schedule shifts. Below is a sample workflow for P3 transactions. •Determination of City Objective(s),Identification and Evaluation of Potential Project(s),First- Stakeholder level Financial Analysis of Project(s) Baseline: •Determination with City Administration of available project delivery methods.Evaluation based Project Delivery on type of project,timing constraints,lifecycle costs,and risk transfer. Method: •Work with City Administration to determine the appropriate procurement methodology(RFP, RFQ, LOI)for City-initiated project(s). Assist with the technhnical specs for said procurement.For Procurement unsolicited proposals,cycle back to baseline discussion and determine if proposal fits within City Methodolo objectives.If so,proceed to evaluate within the framewwork of§255.065. gy: •For either solicited or unsolicited proposals(that advance to the open-competition window), work alongside City Administration to notice the Request,create and populate the data room. For certain projects this stage may include a City-driven education process whereby City officials Procurement provide potential proposers with an opportunity to discuss the project in-person and refine the Phase: technical specs based on private-sector feedback. •Facilitate the financial analysis of proposals. Create customized cash flow models based on City objectives.Work with City stakeholders to summarize and outline key proposal points,financial Evaluation of impact to the project,financial impact to the City,and achievement of core objective(s). Proposals: •Successful implementation of the P3 agreement.Alongside City Administration and other team members,PFM will facilitate review and finalization of documents,maintaining the integrity of Transaction financial margins during negotiation,ensuring appropriate risk transfer provisions,as applicable. Closing: 19 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R e. Key Personnel & Staffing Plan: Proposer shall submit profiles for all personnel proposed for this engagement, their specific roles and responsibilities, their availability and commitment percentage throughout the engagement, and an organizational chart showing team structure and the City's primary points of contact. In addition, include a current one-page résumé for each individual. Our approach to the City's engagement will begin with our lead engagement manager and co-engagement managers. The beginning of this approach ensures that we are always at-the-ready with a combination of local and project expertise. Secondarily, the lead engagement manager will make certain that the appropriate sector experts across our platform are involved in specific City projects, dependent on the type(s) of expertise necessary. Our approach is tailored to meet the City's objectives on a case-by-case basis. As such, we will be available to the City at all times, on short-notice, and in person. Finally, you will also have the full support of our co-engagement managers for each project. PFM will serve as the City's partner and agent in helping to achieve its project delivery objectives. We believe that alternative delivery options can provide governments with the opportunity to hasten completion, as well as provide budget and timing certainty, encourage design and management innovation boost investment and share construction/operational/revenue risk with the private sector. Given the stress on governmental agencies' resources, along with the infrequency of opportunities to consider non-traditional delivery strategies, access to experience reinforced by a fiduciary obligation to provide impartial advice is paramount to helping ensure appropriate transaction structuring. Working with the City, we will identify the delivery structure that optimizes value while minimizing risk. We will help ensure that the chosen alternative secures the optimal cost strategy while remaining consistent with the City's broader policy and financial objectives. We will provide a forum for discussing ideas, an environment for challenging the conventional wisdom and an opportunity to maximize and leverage the performance of the City's resources.As an AD/P3 consultant, PFM is prepared to manage the procurement process and execute transactions with full transparency, objectiveness and efficiency. As Florida's and the Nation's leading financial advisor, PFM offers the City of Boynton Beach unparalleled resources and a seamless transition. PFM's core team leaders, led by Sergio Masvidal, are prepared to begin work immediately, focusing on the City's capital improvement program with priorities in general infrastructure and economic redevelopment, among other needs. Our sector experts, such as Kevin Plenzler for real estate, economic analysis, and assessments, will augment the experience of our core team. An overview of the PFM team and detailed resumes are provided at the end of this section. PFM's resources are committed to the City ensure timely responses to all of the City's needs. We lead the data gathering and analysis process guided by the City's direction and preferences. PFM works as a team with our clients by drafting recommendations, presentations and agenda memos for our client's review and shoulder as much preparation as possible. Emails and phone calls are usually returned within an hour and analytical requests for routine numbers are typically provided the same day. PFM's goal is to be as involved with the City as possible,with communication as frequently as the City would like.Sergio Masvidal is located in Coral Gables, covers all of South Florida. Members of our team committed to the City are always available on short notice either in person or virtually, particularly given our proximity The PFM team has the time, availability, and resources to provide prompt, sound, and quality financial advisory services for Riviera Beach, as evidenced by our high level of staffing and years of service to Riviera Beach and throughout Florida. Your dedicated project manager, Sergio Masvidal, will assemble teams for each assignment for the City based on the type of project and expertise needed, providing expertise for the highest levels of service and availability. Our approach ensures personalized client coverage, and we would be pleased for the City to reach out to our client references to confirm this based on their firsthand experience. PFM has been solely focused on municipalities for fifty years, and we continue to grow our team and available capacity to serve you. 20 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R G:1"( O*. p Ui- _ ATO N PFM Financial Advisors LLC Engagement Manager (Da -to-Da Contact Sergio Masvidal Managing Director Senior Project Support Kevin Plenzler Director Real Estate/Economic Development Analytical & Technical Support Pedro"Pete"Varona James"Jay"Kineon Senior Managing Consultant Analyst Sector Specific Experts as needed Scott Shearer Alex'Meissen Managing Director Director Utility and P3 clusters Alternative finance solutions Ryan Conway Managing Director Alternative delivery(P3) 'Services provided by PFMs affiliates are offered pursuant to separate agreement and fees 21 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R Core Financial Advisory Team Sergio Masvidal, Managing Director in PFM's Coral Gables office, will serve as Engagement Manager/ Day-to-Day Contact for this relationship. Sergio has extensive experience, having actively managed over $20 billion of bond transactions over 22 years. His clients include a variety of cities, counties, community redevelopment agencies, utilities, special taxing authorities and transportation authorities. Sergio's experience also includes technical evaluation of Alternative Delivery methods and Public-Private Partnership models across the spectrum of credits. Sergio is a Municipal Advisor Representative (Series 50). James "Jay" Glover Managing Director in PFM's Orlando office will serve as Senior Project Support for this relationship. He has been providing financial advisory services to Florida local governments for over 24 years. As the Engagement Manager, Jay will lead the delivery of the financial advisory services and be responsible for review of all work products completed by PFM. He will also coordinate the inclusion of sector experts depending on the services requested of PFM by the City. He specializes in Florida municipal finance for cities, counties, school districts, and a variety of authorities. Jay is a Municipal Advisor Representative (Series 50) and Municipal Advisor Principal (Series 54). As a Series 54 holder, Mr. Glover oversees PFM's compliance efforts for the Florida team. Sector Specific Experts Kevin Plenzler, Director in the Orlando office, will serve as advisor on any Real Estate or Economic Development project as requested by the City. Kevin has nearly 20 years of experience, specializing in real estate and economic redevelopment, providing pro forma analysis for all types of real estate projects, including residential, non-residential, mixed-use and industrial projects. Kevin is a Municipal Advisor Representative (Series 50). Scott Shearer, Managing Director in the Harrisburg office, has over 20 years of experience. He is a member of the firm's national utility and Public-Private Partnership (P3) clusters. His expertise will assist in identifying and executing monetization opportunities. With a focus on utilities, Scott led the first of its kind procurement process for the concession lease successfully completed in Allentown in August 2013 for its water and wastewater systems. Ryan Conway, Managing Director in the Charlotte office has over 21 years of professional experience and focuses on alternative delivery ("P3") projects for public sector clients across the country. Since January 1, 2018, Mr. Conway's experience working on P3 projects includes, among others, the University System of Georgia, Oregon University, University of Illinois, Auburn University, University System of Hew Hampshire, Western Michigan University, Kent State University, New College of Florida and the Fort Worth Independent School District. Mr. Conway's professional experience prior to 2018 includes serving as the director of capital markets for a private developer of P3s, and as a finance professional for the University of Virginia8. Alex Theissen, Director in PFM's financial advisory business focused on alternative financing solutions related to P3 project finance. Alex has experience in both credit research as well as public finance investment banking. Analytical Support Team Pete Varona, Senior Managing Consultant in the Coral Gables office and James "Jay" Kineon, Analyst in the Orlando office, will provide Analytical and Technical Support for the project team. They have provided the transaction management services and technical support for many of the firm's Florida clients over the last 13 years, with a focus on Central and South Florida. Both are Registered Municipal Advisor Representatives (Series 50). 8 Client list is for informational purposes only and does not represent an endorsement or testimonial by clients of PFM's financial advisory services 22 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R 0 Sergio Masvidal, Managing Director PFM Financial Advisors LLC Sergio Masvidal is a managing director in the Miami office. He is primarily responsible for leading and providing technical financial advisory services to clients throughout Florida and the Southeast,with a primary focus in South Florida.Sergio is one of the most active financial advisors in Florida in terms of both total par amount and number of transactions completed. He has extensive experience, k, having actively managed over $20 billion of bond transactions over the last 23 years.9 Sergio's clients include a variety of Counties, Cities, School Districts, Special Taxing Districts, Utilities and Transportation Agencies. Office location 2222 Ponce De Leon Blvd.,3rd Floor In his role as project manager, Sergio devotes a significant amount of time Coral Gables,FL 33134 providing financial advisory services to cities in South Florida and along the east coast. Sergio has expertise in project financing, having helped develop long-term Contact Information financing plans that create innovative and cost-effective structures. Part of this masvidalsPofm.com process includes a comprehensive evaluation of available security pledges and 786.671.7480(office) complicated strategic issues, as well as providing guidance on credit structures and developing the credit agency approach for issuers. Education Bachelor of Arts in Psychology Sergio has extensive experience assisting clients to develop financing strategies Muhlenberg College for long-term capital improvement programs. In his role as advisor to issuers with Professional Designations or licenses special taxes, transit funding, and general government financings, he has advised both competitive and negotiated public offerings, direct bank placements, as well Municipal Advisor Representative(Series as TIFIA/WIFIA funding. 50) Years with PFM Sergio is the chairman of PFM's Board of Directors. In the community,Sergio has served as a volunteer at the Kendall Boys&Girls Club, Miami-Dade Public Schools 21 Years Listeners/Oyentes Program, and has served as a volunteer speaker on the Years of Experience Resilient Cities Network 100RC "Living with Water" subcommittee. He is a registered Municipal Advisor Representative (Series 50). 21 Years 9 Source.PFM Internal Records 23 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R James "Jay" Glover, Managing Director PFM Financial Advisors LLC Jay Glover is a Managing Director in PFM's Orlando, Florida office. Jay has assumed an active role in providing project management services to clients throughout the Southeast. He has taken an active role in working with clients on new money issuances, refundings, ,A00 pooled financings, conduit borrowings, derivative products analyses, and innovative financing solutions. The clients that Jay serves are located primarily in Florida and include cities, counties, school districts, and a variety of authorities. His project finance experience includes water and sewer,economic development,transportation,sports venues,education, public power, solid waste, pension bonds and special assessment programs. Local governments for which Jay currently serves as project manager are the counties of Brevard, Volusia, Lake, Seminole, Sarasota, Orange, Mahon, Flagler, St. Johns, and St. Lucie; the Office Location cities of Port St. Lucie, Marco Island, Melbourne, Titusville, Cocoa Beach, St. Petersburg, 200 S.Orange Avenue Gainesville, Boca Raton, Boynton Beach, Ormond Beach, Delray Beach, Coral Gables, Suite 760 Winter Garden and Winter Park; the School Districts of Volusia County, Sarasota County, Orlando, FL 32801 and Seminole County'. Contact Information Mr. Glover has expertise in conducting competitive bond sales and negotiating pricings for aloveriaofm.com both tax-exempt and taxable new money and refunding bond issues. Since joining PFM in 407.406.5760(office) 2000, Mr. Glover has served as project manager on over 500 transactions with a total par amount of over$15 billion". Education Mr. Glover has worked with Orange County, Florida to help improve its implied general Master of Business obligation ratings to AAA from Fitch and Kroll, its tourist development tax ratings to AdministrationuharoinUniversity of South Carolina AA/Aa2/AA-from Fitch, Moody's and S&P and its water and sewer system ratings to AAA from S&P and Fitch. Bachelor of Science in Business Administration Jay is a past speaker for the Florida Association of Counties, Florida School Finance Officers College of Charleston Association, Florida Government Finance Officers Association and other industry consortia. He is a Municipal Advisor Representative(Series 50)and Municipal Advisor Principal(Series Professional Designations or 54). Licenses Municipal Advisor Representative(Series 50) Municipal Advisor Principal (Series 54) Years with PFM 25 Years Years of Experience 25 Years i'Client list as of April 15, 2025,is for informational purposes only and does not represent an endorsement or testimonial by clients of PFM's financial advisory services "Source PFM internal records. 24 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R Pete Varona, Senior Managing Consultant PFM Financial Advisors LLC Pete Varona is a Senior Managing Consultant in the Coral Gables Office. Mr. Varona works in the general financial advisory sector, providing technical and quantitative project support for various clients, with a strong focus on the South ;\ Florida market. )4* His present duties include structuring, sizing, and pricing new money and refunding municipal bond issues, including providing project management for various South Florida entities as well as support for engagement managers for various clients. He is also involved in assessing municipal issuer's outstanding Office Location debt and performing analysis of refunding opportunities. 2222 Ponce De Leon Blvd.,3rd Floor Coral Gables,FL 33134 Mr. Varona graduated from the University of Florida with a Master of Arts in International Business, as well as a Bachelor of Science in Economics. He is a registered Municipal Advisor Representative (Series 50). Contact Information varonao(a)ofm.com 786.671.7481 (office) Education Bachelor of Science in Economics University of Florida Master of Arts in International Business University of Florida Professional Designations or Licenses Municipal Advisor Representative (Series 50) Years with PFM 13 Years Years of Experience 13 Years 25 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RF P#26-053R Kevin Plenzler, Director PFM Financial Advisors LLC Kevin joined PFM in 2019 via acquisition of Fishkind and Associates, Inc. in Orlando, Florida. His current responsibilities include providing financial advisory ‘11‘, and assessment consulting services associated with PFM's Community Development District practice within PFM Group Consulting, LLC. In addition to financial advisory services associated with PFM's special district practice, Kevin provides economic and real estate consulting services such as transportation toll and revenue studies, highest and best use market studies, affordable housing analysis, and tax increment finance analysis. Office Location 3501 Quadrangle Blvd. Prior to PFM, Kevin worked as an associate with Fishkind and Associates, Inc. Suite 270 within its real estate consulting group. Kevin has relevant experience in fiscal Orlando, FL 32817 impact analyses, detailed pro forma analysis associated with real estate transactions, and economic impact analyses in Florida and the Southeastern Contact Information United States. olenzlerk anofm.com 407.723.5933(office) Education Bachelor of Science in Environmental Engineering Technology University of Dayton Master of Business Administration Warrington College of Business University of Florida Professional Designations or Licenses Municipal Advisor Representative (Series 50) Years with PFM 6 Years Years of Experience 20 Years 26 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R 0 Mara Lugo, Senior Managing Consultant PFM Financial Advisor LLC Mara Lugo joined PFM in 2018 and is based in the Coral Gables office. In this role, she provides technical and quantitative analytical support for client F. engagements and works with city and county issuers throughout the southeast. Mara will provide Analytical and Technical Support for the engagement. `` She has experience with tax-exempt and taxable municipal bonds, bank loans, lines of credit, commercial paper programs, liquidity and interim financing alternatives, and variable rate debt. Her present duties include structuring, sizing and pricing new money and refunding municipal bond Office Location issues, as well as performing analysis of refunding opportunities. She also provides multi-year financial modeling for strategic planning, capacity 2222 Ponce De Leon Blvd.,3rd Floor Coral Gables,FL 33134 analyses, and ratings support to a variety of issuers. She has been involved in executing debt transactions totaling over$7 billion.12 Contact Information luaomnofm.com Mara holds a Master of Business Administration from the Crummer School 407.406.5765(office) of Business at Rollins College and a Bachelor of Arts in Journalism from the University of Richmond. Mara is a Municipal Advisor Representative(Series 50). James "Jay" Kineon, Analyst PFM Financial Advisor LLC Jay Kineon is a dedicated transportation analyst with PFM Financial Advisors. He is based in PFM's Orlando office. He provides quantitative and transactional support for transportation issuers. His experience includes financial modeling, debt structuring, document review, and proposal analysis for clients located throughout the country. Office Location 200 South Orange Avenue.,Suite 760 Jay holds a Master of Business Administration from the Crummer School of Orlando,FL 32801 Business at Rollins College and a Bachelor of Arts in Economics from Rollins College. Jay is a Municipal Advisor Representative (Series 50). Contact Information kineoni(r ofm.com 407.406.5762(office) 12 Source:PFM Internal Records. 27 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Scott Shearer, Managing Director PFM Financial Advisors LLC Scott joined PFM in 1998. In his tenure at PFM. he has worked on more than 1,600 transactions for local governments and other issuers primarily in Pennsylvania. He oversees approximately 250 clients comprised of municipal authorities, industrial development authorities, school districts, cities, counties, townships, and the Commonwealth. He is a member of the firm's national utility and Public-Private Partnership (P3) clusters. His expertise includes the structuring of both tax-exempt and taxable fixed-rate bond issues. variable-rate bond pool financings, bank loans, and interest rate swap derivatives. In this capacity, he assists local governments in the areas of capital planning, financial analysis, refinancing opportunities, debt Office Location structuring analysis, budget forecasting, credit rating agency relations, investor relations, and identifying and executing monetization opportunities. Keystone Plaza 100 Market Street Scott has led project teams for very significant economic development Harrisburg, PA 17101 financings including the Allentown Neighborhood Improvement Zone Development Authority in Pennsylvania and many other Tax Increment Contact Information Financings that have generated over $lbillion of economic development shearersCa�ofrn.corn projects. With a focus on monetization and regionalization of utilities, Scott 717.231.6262(office) led the first of its kind procurement process for the concession lease successfully completed in Allentown in August 2013 for its water and Education wastewater systems. Since then, Scott is active in many other engagements that involve exploring or implementing asset monetization B.S.in Actuarial Science Pennsylvania State and regionalization efforts for various asset classes. University Professional Designations or Licenses Municipal Advisor Representative(Series 50) Years with PFM 37 Years Years of Experience 37 Years 28 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Ryan Conway, Managing Director PFM Financial Advisors LLC Ryan leads PFM's national coverage of alternative delivery ("P3")financing solutions. Since 2001, Ryan has led the financing process on over 100 transactions in excess of$10 billion. His prior experience structuring financings as a private developer ) ' of P3 projects, university official, investment banker and financial advisor gives him a unique perspective and understanding of all parties involved in a public-private partnership. fr Ryan began his career at PFM in 2001, where he worked as a financial advisor until 2004, and returned in the beginning of 2018. Most recently prior to his return, Ryan was Office Location vice president, capital markets for a private developer, where he was responsible for Calhoun Building structuring financing solutions for public-private partnerships, managing relationships 11605 North Community House with institutional investors, rating agencies and financial institutions. He led negotiations Road Suite 500 with university officials on the operative legal agreements that governed all aspects of Charlotte, NC 28277 the long-term partnership and oversaw the development of the project pro forma. conwavrofm corn Ryan's prior experience also includes serving as director of capital markets finance for 856.425.7817 cell the University of Virginia and director in Wells Fargo Securities' public finance investment banking group. Education Ryan has been an industry leader in providing insights on alternative delivery projects, B.A.in Public Policy including leading the panel"Lesson's Learned in P3s"for the Treasury Institute's annualAdministration with a concentration in State and Symposium in 2019, and authoring the white paper "GASB Proposes Updated Local Government and Guidance on P3s— Potential Impact on Public Colleges and Universities" in July 2019. Economics University of North Carolina at Chapel Hill Ryan earned his Bachelor of Arts in Public Policy Administration with a concentration in State and Local Government and Economics from the University of North Carolina at Professional Designations or Chapel Hill and is a Municipal Advisor Representative (Series 50). Licenses Municipal Advisor Representative (Series 50) Years with PFM 24 Years Years of Experience 24 Years 29 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Alex Theissen, Director PFM Financial Advisors LLC Alex is a director in PFM's financial advisory business focused on alternative financing solutions for higher education clients, specifically related to P3 project finance. Alex has experience in both higher education credit research as well as public finance investment banking for the higher education sector. Alex joins PFM from Raymond James & Associates, where he served as an investment banker for higher education clients, responsible for capital markets and financing solutions, debt management and credit rating analysis. He Office Location managed relationships with investors, institutions, issuers, rating agencies and Boston,MA 021100rd other parties involved in capital markets transactions. Alex previously worked at Putnam Investments on the tax-exempt investment management team and the theissenapfm.com structured fixed income investment management team, where he was 617.502.5646 office responsible for various roles in the investment decision process including credit Education analysis, financial modeling, portfolio construction and securities trading. B.S. in Management with a in Finance Boston College Years with PFM 7 years Years of Experience 18 Years 30 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP## 26-053R 0 f. Subcontractors & Teaming Arrangements: Proposer shall identify any subconsultants, their specific roles, and how the prime firm will oversee and integrate their work to ensure quality and accountability. None g. Quality Control & Proiect Management: Proposer shall show how the firm manages internal review of financial models and deliverables, handles version control and document management, and maintains consistent communication with City staff throughout the engagement. All work products are crafted by the assigned project team and reviewed by Project Manager(s). Typically draft versions are prepared for review and discussion with the client prior to finalizing. h. Conflicts of Interest Disclosure: Proposer shall provide a full disclosure of any relationships with P3 investors, developers, lenders, or operators that could create a conflict, along with the firm's policy for managing conflicts if they arise mid-engagement. PFM knows of no existing or potential conflicts that may affect our engagement with the City of Boynton Beach FL in any manner or degree. 31 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R 0 D. Financial Proposal Requirements The purpose of the Financial Proposal is to establish the Proposer's financial responsibility, stability, and capacity under the Agreement. a. Financial Statements PFM's last two audited financial statements have been uploaded to Document Upload 3 in the portal b. Proof of Financial Stability Letter of Creditworthiness or Bank Reference Letter Disclosure of Bankruptcy or Insolvency proceedings within the last five (5) years. PFM's Credit Reference letter has been uploaded to Document Upload 3 in the portal 32 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R E. Litigation Disclosure Requirement Proposers are required to disclose all litigation, claims, or legal proceedings—past or pending— filed within the last fifteen (15) years involving the proposing firm, its principals, owners, officers/directors, or any related entities. This disclosure must include all companies in which the proposer, or any partner/officer/director thereof, has held an ownership interest or has been listed as a Registered Agent or Officer/Director in the Florida Division of Corporations (SUNBIZ). This includes all related parties listed in SUNBIZ. PFM Financial Advisors LLC is not subject to any current or pending litigation, claims, or legal proceedings. PFM Financial Advisors LLC("PFMFA")is one of many financial services firms and municipal advisory firms affected by the Securities and Exchange Commission (SEC)investigations of off-channel communications. The firm voluntarily and thoroughly cooperated with the SEC's investigation. On September 17, 2024 the SEC issued an Administrative Order regarding PFMFA (among 11 other municipal advisory firms)for use of text messaging to conduct business, which was not a PFMFA approved electronic communications method and, accordingly, was not captured by PFMFA's systems for recordkeeping purposes. To settle this civil administrative matter, PFMFA agreed, among other things, to pay a fine of$250,000 and to certain undertakings involving written procedures and employee training. None of the violations are for breach of PFMFA's fiduciary duty or involve client services. PFMFA was not required to undertake any further compliance or regulatory actions and is pleased to have this matter resolved and concluded with regard to the firm. On May 21, 2018, Public Financial Management, Inc., a former affiliate of PFM Financial Advisors LLC, was one of several defendants, including law firms, an investment bank, and an engineering consultant, named in a complaint related to advisory services provided more than 10 years ago on an incinerator project in Harrisburg, PA. 33 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RF P#26-053R F. References At least 3 recent/current Consultant contracts with contact information. Provide a list of three (3) references or similar contracts for which the Proposer has completed or is in progress within the past ten (10)years with the following information: • Name of Agency •Address • Contact Name, Email Address •Telephone Number The City is interested in learning about other firms' or government agencies' experiences with your firm; as such, please do not list the City of Boynton as a reference. Project Manager: Sergio Masvidal City of Fort Lauderdale, FL Services Provided: Financial Advisory, Long-Term 100 N. Andrews Ave., 6th floor C"% Planning, Debt Structuring and Optimization, Credit Fort Lauderdale, FL 33301 ; 4 Rating Management, P3 Advisory Linda Logan-Short szoRiOn Project Type: Utility Concession (DBOM) (954) 828-5267 LShortafortlauderdale.aov Value/Length: $300,000/24 mos Dates of Service: 2018 to Present Engagement Manager: Sergio Masvidal Miami-Dade County, FL Services Provided: Financial Advisory, Long-Term 111 N.W. 1st Street, Suite 2550 MIAMIDADE Planning, Debt Structuring and Optimization, Credit Miami, FL 33128-1929 Rating Management, P3 Advisory Arlesa Wood, Director Project Type: Miami Dolphins Stadium Division of Bond Administration Improvements (DBOMF) (305) 375-5147 arlesa.wood(a,miamidade.aov Value/Length: $40,000 /9 mos Dates of Service: 2001 to Present Engagement Manager: Jay Glover City of Vero Beach, FL VERO BEACH Services Provided: Financial Advisory, Lon Term 1053 20th Place Planning, Debt Structuring and Optimization, Credit Vero Beach, FL 32961 Rating Management, P3 Management Jason H. Jeffries, AICP Project Type: Real Estate Redevelopment (DBF) Planning and Development Director (772) 978-4522 lieffriescovb.orq Value/Length: 6350,000/Ongoing (12+ mos) Dates of Service: 2021 to Present 34 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R 0 Exceptions by Proposer Should PFM Financial Advisors LLC be awarded the engagement,we respectfully request to negotiate the items referenced below. Some of these suggestions relate to regulatory matters and others clarify certain aspects of the contract PFM Contract Terms If PFM Financial Advisors LLC is awarded the engagement, we respectfully request the inclusion of certain provisions in the resulting contract that are regulatory requirements driven by our status as a municipal advisor registered with the Securities and Exchange Commission("SEC")and with the Municipal Securities Rulemaking Board("MSRB")(e.g., municipal advisor description;the scope of MA services,form and basis of compensation,termination or withdrawal of the client relationship, conflicts of interest disclosure,and our disclosure of any legal and disciplinary events). SAMPLE TERM AGREEMENT 22. INDEMNIFICATION Consultant shall indemnify and hold harmless the City and its elected and appointed officers, agents, assigns and employees, consultants, separate Consultants, any of their subconsultants, or sub- subconsultants (collectively, "Indemnified Party"), from and against claims, demands, or causes of action whatsoever,and the resulting losses,damages,costs, and expenses, including but not limited to attorneys' fees, including paralegal expenses, liabilities, damages, orders, judgments, or decrees, sustained by the Indemnified Party arising out of or resulting from(A)Consultant's performance or breach of Agreement, (B) negligent or intentionally wrongful acts or omissions, ___ '.::•.9Rfloaal—wrongful sendust—by Consultant's, its agents, employees, subcontractors, subconsultants, participants, and volunteers, and (C) Consultant's failure to take out and maintain insurance as required under this Agreement. Consultant shall pay all claims and losses in connection therewith and shall investigate and defend all claims, suits, or actions of any kind or nature against an Indemnified Party, where applicable, including appellate proceedings, and shall pay all costs,judgments, and attorneys' fees which may issue thereon.The obligations of this section shall survive indefinitely regardless of termination of the Agreement. If, in the opinion of the City and the City Attorney, it is necessary, the City may retain any sums due the Consultant under this Agreement until all claims subject to this indemnification obligation have been settled or otherwise resolved.Any amount withheld shall not be subject to payment of interest by the City. Explanation: PFM Financial Advisors LLC respectfully requests the opportunity to negotiate the indemnification language in any resulting agreement so that PFM Financial Advisors LLC's obligation to indemnify is limited to circumstances in which its performance has been wrongful, which would include negligent or intentionally wrongful acts. SECTION XI—SAMPLE TERM AGREEMENT - Exhibit D—Insurance Advisory All coverages ,except for Professional Liability, shall be provided on a primary basis with the City endorsed as an Additional Insured as follows:"The City of Boynton Beach".The Consultant shall provide the City with a Certificate of Insurance evidencing such coverages prior to the commencement of any services and within a time frame specified by the City (normally within 2 working days after request). Failure to maintain the required insurance shall be considered a default of the Agreement. Explanation: The professional liability policy only acts as primary in the absence of any other valid and collectible insurance. Industry standards prohibit the inclusion of additional insureds on professional liability. 35 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R Sub-Consulting None Digital Forms to be Completed with each Proposal Certification Vendor Drug-Free Workplace Offeror's Qualification Statement References Scrutinized Companies List E-Verify Compliance Sub-Contractor Form Firm's Primary Ownership Local Boynton Beach Preference Palm Beach Inspector General Acknowledgement Proposer Acknowledgement Sub-Consultant's Form if applicable Forms that must be uploaded to the document upload section Document Upload 1: A. Letter of Interest and B. Proposer's Qualifications: Company Culture/Structure and Experience Document Upload 2: C. Technical/Operational Proposal and Proposer's Qualification Statement (includes all items in Section V—Submission of Proposals Document Upload 3: D. Financial Proposal Requirements (includes all items requested in Section V— Submission of Proposals D.) Document Upload 4: E. Litigation Disclosure Requirement (includes all items requested in Section V— Submission of Proposals E.) Document Upload 5. Non-Collusion Affidavit, Anti-Human Trafficking Affidavit, Scrutinized Companies, E- Verify Affidavits, Foreign Entity Affidavit, and Anti-Kickback Affidavit Document Upload 6: Sample of Certificate of Insurance per the Requirements Document Upload 7: Proof of State Certified or Professional Licenses Document Upload 8: Proof of Local Boynton Beach Business Status Document Upload 9: Optional others Proposer may want to include 36 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP# 26-053R Price Proposal Sheet A separate document where Proposers will input the pricing. PFM's price proposal has been inputted into the portal. 37 City of Boynton Beach, FL Request for Proposal for Strategic P3 Financial Advisory Services I RFP#26-053R