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20250701 LA County Los Angeles City Council Item (58) 19-1235-S1 CONTINUED CONSIDERATION OF ECONOMIC DEVELOPMENT AND JOBS COMMITTEE REPORT relative to confirming the selected consultants will maintain the scope of work and timeline provided in the responses to the Request for Proposals (RFP), and transferring/appropriating funds from the AB 1290 Fund for the Public Bank Feasibility Study Phase 1. Recommendations for Council action, as initiated by Motion (Hernandez, et al. - Yaroslavsky), SUBJECT TO THE APPROVAL OF THE MAYOR: 1. INSTRUCT the Chief Legislative Analyst (CLA) to confirm with the consultants selected to conduct the study, as outlined in Council file No. 19-1235, that the scope of work and timeline provided in the RFP response will be maintained. 2. DIRECT the City Clerk to place on the Council Agenda for July 1, 2025, or soon thereafter as possible, the following recommendations for adoption: a. Appropriate / transfer $15,000 from the AB1290 Fund No. 53P, Account No. 281201 (CD 1 Redevelopment Projects - Services); $15,000 from the AB1290 Fund No. 53P, Account No. 281209 (CD 9 Redevelopment Projects - Services); $15,000 from the AB1290 Fund No. 53P, Account No. 281213 (CD 13 Redevelopment Projects - Services); and $15,000 from the AB1290 Fund No. 53P, Account No. 281214 (CD 14 Redevelopment Projects - Services) [TOTAL: $60,000] to the CLA Fund No. 100-28, Account No. 3040 (Contractual Services) for the Public Bank Feasibility Study Phase I as outlined in Council file No. 19-1235. b. Authorize the CLA to make any corrections, clarifications, or revisions to the above fund transfer instructions, including any new instructions, in order to effectuate the intent of this Motion, and including any corrections and changes to fund or accounts numbers; said corrections / clarifications / changes may be made orally, electronically, or by any other means. Fiscal Impact Statement: Neither the City Administrative Officer nor the CLA has completed a financial analysis of this report. July 01, 2025 LA County Los Angeles City Council Item #58