TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Scott Agajanian, Director of Economic Development
PREPARED BY: Martha Samaniego, Management Analyst
SUBJECT:
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Professional Services Agreement - Market Research and Analysis
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RECOMMENDATION
recommendation
Authorize the City Manager to enter into a two-year agreement for market research and analysis services with up to three one-year optional extensions with The Retail Coach, LLC, in a form acceptable to the City Attorney. The total contract sum shall not exceed $137,500.00 over the entire contract term.
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PRIOR ACTION/VOTE
None.
CITY COUNCIL GOAL
Aggressively pursue economic development.
BACKGROUND
The City of Murrieta (City) released a Request for Proposals (RFP) for Market Research and Analysis on February 5, 2024. This RFP closed at 2 p.m. on March 7, 2024, and the City received three (3) proposals. Of the proposals received, the lowest and most responsive proposal was selected. The Retail Coach, LLC., has provided professional services in this capacity for the City, and the City has been satisfied with the services provided.
|
Proposal Received - Company Name |
Cost Proposal |
Total Cost |
|
ECOnorthwest |
Consisted of a per-year fee range |
Range from $133,500 - $220,000 |
|
Retail Strategies |
1st Year - $82,000 2nd Year - $80,000 |
$183,500 for 2 years |
|
The Retail Coach |
Annual cost - $25,000 (plus $2,500 in reimbursable expenses) |
$55,000 for 2 years |
FISCAL IMPACT
Funding for this Agreement is available in General Ledger Account 1114100-63120 in the Fiscal Year 2023/24 and 2024/25 Operating Budgets. The cost for future years of the Agreement will be included in subsequent Biennial budgets. The Retail Coach proposal's annual cost is $25,000 (plus $2,500 in reimbursable expenses) for a total of $55,000 for a two-year period.
ATTACHMENTS
1. The Retail Coach Agreement