Documents › Board of Education, 2026-08-27

bid 1 page

Also attached to this agenda item: CMA Response to RFP 2025-26 R03 for Fiscal Advisor... Capital Markets Advisors 2026-2027 Bid Award, RFP 2025-26 R03 Croton Harmon CSD 8.26.26 CMA (161 KB) Fiscal Advisor RFP 2025-26 R03 Tally sheet rfp opening (73 KB)

Capital Markets Advisors, LLC 1 To: Kelly Lent Croton Harmon Schools From: Richard Tortora Re: Agreement Between Croton-Harmon Schools and CMA Date: August 20, 2026 On our call earlier today, you requested clarification of the services covered, and not covered, under the retainer option in CMA’s response to the District’s RFP, as well as a breakdown of the hours spent in the District’s 2026 fiscal year on the District’s Multi-Year Capital Plan and for State aid assistance provided by CMA personnel. As we discussed, the “Cost Proposal” section of CMA’s proposal dated May 21, 2026, contained the following language: “CMA proposes the following two options as compensation for its services: Service Years 1 and 2 2026-27 & 2027-28 Years 3, 4 and 5 2028-29, 2029-30 & 2030-31 Bond Issues (per issuance) $8,500 base + $0.50 per $1,000 bonds issued over $3 million $8,650 base + $0.52 per $1,000 bonds issued over $3 million Note Issues (per issuance/sale) $4,900 base + $0.25 per $1,000 notes issued over $3 million $5,000 base + $0.25 per $1,000 notes issued over $3 million Capital Leases (per transaction) $6,250 base + $0.50 per $1,000 $6,250 base + $0.50 per $1,000 Continuing Disclosure (annual)* $2,200 $2,300 Hourly Rate (other services $195 $200 *Including Material Events OR • An annual retainer of twenty thousand ($20,000) dollars paid quarterly on the 15th of September, December, March and June, each year, in the amount of five thousand ($5,000) dollars for all bond, note and lease financings and Continuing Disclosure. The retainer does not include special projects, such as State aid assistance.” As stated above, the $20,000 annual retainer would compensate CMA in each of the District’s next five, fiscal years, commencing in FY2027, for all bond, note and lease financings issued by the District, as well as all required Continuing Disclosure filings made on the MSRB’s EMMA website by CMA on behalf of the District. The annual retainer would not include special projects worked on by CMA personnel during the five-year term of the agreement, such as completion of the District’s Multi-Year Financial Plan, and State Aid assistance, which includes updating the District’s Debt and Aid Model. CMA would be compensated for those services at the hourly rates stated above. There would be an increase to the retainer commencing in the District’s 2029 fiscal year based on the Consumer Price Index for the prior, calendar year. In FY2026, CMA spent 8 hours on the District’s Multi-Year Financial Plan and 16 hours providing State aid assistance including updating the District’s Debt and Aid Model. I hope that the foregoing is helpful. Please contact me if you have additional questions. My colleagues and I look forward to working with you and your associates at the District in the coming months. 11 Grace Avenue, Suite 308 Great Neck, NY 11021 Phone: 516-487-9815 rtortora@capmark.org