City Council

10.d.CONSIDERATION OF NO. 26-020, APPROVING AGREEMENT WITH TIERRA WEST ADVISORS, INC. FOR CONSULTING SERVICES FOR A ECONOMIC DEVELOPMENT STRATEGIES REPORTA consultant is needed to prepare a economic development strategies report to prioritize key city economic development projects and strengthen the City's fiscal resilience. The City has previously engaged Tierra West Advisors (TWA) for economic development services, and the firm possesses unique institutional history and technical expertise regarding South El Monte's specific project needs. Staff recommends entering into this agreement to prepare the economic development strategies report to ensure cost savings, technical continuity, and a streamlined path toward project implementation.RECOMMENDED ACTION: Staff recommends City Council adoptResolution No. 26-020, approving a professional services agreement with Tierra West Advisors, Inc. (TWA) to prepare a Economic Development Strategies Report in an amount not to exceed $38,500.NO. 10.e.CONSIDERATION OF RESOLUTION 26-021, APPROVING AGREEMENT WITH TIERRA WEST ADVISORS, INC. FOR CONSULTING SERVICES FOR ECONOMIC DEVELOPMENT OUTREACHA consultant is needed to provide professional economic development outreach services to effectively communicate municipal initiatives, provide business site and incentive opportunities, and strengthen partnerships with businesses and investors. The City has previously engaged Tierra West Advisors (TWA) for economic development outreach, and the firm possesses unique institutional history and technical expertise regarding South El Monte's specific needs. Staff recommends entering into this agreement to ensure cost savings, technical continuity, and a streamlined path toward enhancing the City's economic engagement.RECOMMENDED ACTION: Staff recommends City Council adoptResolution No. 26-021, approving a professional services agreement with Tierra West Advisors, Inc. (TWA) for Economic Development Outreach Services in an amount not to exceed $25,000.