City Council

(33) 24-0710 ADMINISTRATIVE EXEMPTION and COMMUNICATION FROM THE COMMUNITY INVESTMENT DEPARTMENT (CID) relative to expanding the Contract Financing Pilot Program (CFP); and executing a contract with Merriwether and Williams Insurance Services, Inc.; and related matters. Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: 1. AUTHORIZE the CID to expand the scope of the Contract Financing Program, as proposed in the CID report dated September 8, 2026, attached to the Council file. 2. DETERMINE that this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Article II, Section 2.f of the Los Angeles CEQA guidelines. 3. AUTHORIZE the CID to utilize the remaining available balance from a donation from Banc of California for implementation of the Contract Financing Program, currently deposited in the Economic Development Trust Fund No. 62L, in an interest bearing Account No. 22A5AQ. 4. AUTHORIZE the General Manager, CID, or designee, to negotiate and execute a contract with Merriwether and Williams Insurance Services, Inc., a HUB International Company, for up to $425,000 to provide professional services for the Contract Financing Program. The contract term is for one year, from October 1, 2026 through September 30, 2027, with an option to renew for one additional year through September 30, 2028, subject to the availability of funds, and to disburse payments in accordance with the contract terms. The contract will also be subject to the approval of the City Attorney as to form. 5. AUTHORIZE the General Manager of CID, or designee, to make technical corrections to transactions included in this report, subject to the approval of the City Administrative Officer, to carry out Mayor and City Council intentions, as necessary; and, REQUEST the Controller to implement those instructions. Fiscal Impact Statement: The CID reports that there is no fiscal impact on the General Fund as a result of the report. The Contract Financing Program will be funded through the initial donation from the Banc of California.