I guess the Half-Million+ staff the mayor currently has isn’t cutting it (Item #6, Consent Agenda, Sub-Item, 16);

Professional Services Agreement to Provide Financial Advisory Services, PFM Financial Advisors, LLC, Establish Pricing

So is this about actual financing? Read the agreement;

The purpose of this letter (this “Engagement Letter”) is to confirm our agreement that PFM Financial Advisors LLC (“PFM”) will act as financial advisor to the City of Sioux Falls (the “City”). PFM will provide, upon request of the City, services related to financial planning, budget and strategic advice and planning, policy development and services related to debt issuance, as applicable and set forth in Exhibit A to this Engagement Letter. Most tasks requested by the City will not require all services provided for in Exhibit A and as such the specific scope of services for such task shall be limited to just those services required to complete the task.

If you look further down on the agreement you will see this is about advising the city thru a bond agreement and the advisor gets paid according to the size of the bond. So what is the city planning to bond for? Is this about the convention center or something else? And whatever happened to the policy body advising the city on bonding and finances? Shouldn’t this be coming from the council? Oh, my bad, forgot they work for the mayor now 🙁

PLANNING MEETING HAS SOME INTERESTING TIDBITS

Including a conditional use permit for alcohol on the consent agenda (I think it is just a catering kitchen so there is likely NO alcohol served on-site just used in recipes) but it would be unusual for an alcohol license to be on consent even if it is harmless. Oh, and Mr. Hahn decided to come back to the city to re-zone more of his rental houses into office space. Wonder if he will tell the truth this time or just stack up some more lies. Really doesn’t matter I guess. In this town you can lie thru your teeth to city officials, get caught, still approve your plan, and a couple months later take another shot at it. Can’t make this crap up.

6 Thoughts on “City of Sioux Falls to hire a Financial Advisor

  1. joe swan on April 1, 2024 at 1:15 pm said:

    what is their pay package? do they get points of the investments and a salary? I bet it’s not even a fiduciary.

  2. Fear & Loathing in Sioux Falls on April 1, 2024 at 3:03 pm said:

    Will he or she be called the Minister of Finance? Because I already know we have a Minister of Cultural Affairs. #Hari-BourgeoisieNord

  3. We have several items on the wish list at City Hall, but my guess is the relocation of the Convention Center is at the top of the list.

    Unlike the last Admin, we won’t have the cooked studies so it can be decided the way the Mayor’s former employer wants. Also the CVB isn’t going to be muzzled on it, they are all for an expanded & improved facility downtown. The Stu led Argus is no longer a factor. It’s a new ballgame and hopefully we can make the right call this time around when it goes to the polls.

  4. RobertaK on April 2, 2024 at 7:29 pm said:

    Can’t have pritchett run the IT department AND finance. Ridiculous

  5. scott on April 2, 2024 at 8:12 pm said:

    i’m pretty sure a new convention center will also double as a way to solve the work force shortage. people will need to get a second job to be able to pay their property taxes.

  6. Further Fear & Loathing on April 2, 2024 at 9:36 pm said:

    Brilliant idea: Get a second job to help solve the worker shortage, and then use those additional funds to pay for your rising property taxes. #ThatsTheTicket!
    #GOPPlatform

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