Approve Modification No. 2 to Contract No. 4400002685 with Hilltop Securities Inc., an as-needed contract, for services. (Planning and Budget Office) (Commissioner Travillion)
Staff Report & Agenda Item Details
On July 30, 2015, Travis County issued Request for Qualifications No. 1507-016-AW to seek qualified organizations to provide financial advisory services for the Travis County Corporations. Hilltop Securities Inc. was the highest scoring organization based on experience and qualifications. Contract No. 4400002685 was awarded to Hilltop on December 22, 2015; the initial term of the agreement was one year beginning on December 22, 2015, with five additional one-year automatic renewals ending September 30, 2021. On May 11, 2021, the agreement was amended to add an extension for one year ending September 30, 2022, with four additional one-year automatic renewals ending September 30, 2026.<br><br>This modification adds a second extension for two years ending September 30, 2028. The fees related to the services remain the same during this second extension. Travis County Corporations will request a solicitation for financial advisory services after a strategic plan for the Corporations has been approved by its Board.<br> <br><strong>Contract Information: </strong><br>Contract No.: 4400002685<br>Contractor Name: Hilltop Securities Inc.<br>Contract Modification Amount: As needed<br>Contract Period: October 1, 2026 – September 30, 2028<br><br><strong>Current Contract Expenditures: </strong>Within the last 12 months, $55,150.00 has been spent against this contract.<br><br><strong>Previous Contract and Modification Activity:</strong><br>On May 11, 2021, the Commissioners Court approved Modification No. 1 to extend the contract from October 1, 2021, to September 30, 2022.<br><br>On December 22, 2015, the Board of Directors of the Travis County Housing Finance Corporation approved the initial contract on an as needed basis.