Title
a. Approve and Authorize the Director of Health, or Assistant Director of Health to execute an Agreement with Novogradac & Company LLP (Novogradac) for consulting services related to the funding of Health Department's New Markets Tax Credit (NMTC)-financed facility for a contract amount of $99,800 and a term of 24 months from the date of final execution by both parties; and
b. Authorize the Director of Health or Assistant Director of Health to sign up to three (3) future amendments to this Agreement where the amendments do not exceed 10% of the contract amount and do not significantly change the scope of work.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve and Authorize the Director of Health, or Assistant Director of Health to execute an Agreement with Novogradac & Company LLP (Novogradac) for consulting services related to the funding of Health Department's New Markets Tax Credit (NMTC)-financed facility for a contract amount of $99,800 and a term of 24 months from the date of final execution by both parties; and
b. Authorize the Director of Health or Assistant Director of Health to sign up to three (3) future amendments to this Agreement where the amendments do not exceed 10% of the contract amount and do not significantly change the scope of work.
SUMMARY/DISCUSSION:
The Health Department Clinic Services Bureau (Clinic Services) operates ten community clinic sites designated as Federally Qualified Health Centers (FQHCs) which provide preventive, primary, and specialty medical care services.
The New Markets Tax Credit (NMTC) Program was established by Congress in 2000 to encourage investment in low-income communities by providing federal tax incentives for investments in distressed communities that conventional investors otherwise often avoid. The NMTC Program permits investors, usually large banks with community banking divisions, to receive a credit against federal taxes for making qualified equity investments ...
Click here for full text