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~. ~~ <br />• <br />MMC shall commence the revenue enhancement audits and annual report services within 10 working <br />days of authorization (unless instructed otherwise by the CITY) with the objective of delivering the <br />initial audit reports within 90 to 120 working days. Thereafter, MMC shall provide the CITY with audit <br />progress reports to include, but not be limited to, the following: <br />o Actual revenue produced for the CITY by MMC's service on an annual and cumulative <br />basis. <br />o Projected revenue forthcoming to the CITY as a result of MMC's audit service, <br />specified according to source, timing and one-time payment versus ongoing. <br />o Listing of all errors/omissions detected for the CITY including, for each, the account <br />number, correction status, payment amount received by the CITY, period to which <br />payment is related and payment type (e.g. reallocation, deficiency assessment, etc.). <br />o Status of the work including copies of reports provided by the County addressing each <br />reporting error/omission individually, the Incorrect Parcel Number, Correct Parcel <br />Number, Assessee, Correct TRA assignment, Business ID, Address, Secured and <br />Unsecured Valuation, Exemptions, Net Total Valuation of misallocated assessments. <br />COROLLARY CONSULTING <br />Upon mutual agreement between MMC and the CITY as to the scope of services to be provided, <br />MMC shall provide to CITY such additional consulting services as CITY may request. Consulting <br />services otherwise included in this Addendum will not be subject to MMC's fees for Corollary <br />Consulting as set forth below. <br />COST PROPOSALS <br />MMC performs this work fora 25% contingency fee. This fee applies to reallocations for the fiscal <br />year during which the Date of Correction falls and all eligible prior period revenues corrected. The fee <br />also applies to Corrected Allocations for three (3) subsequent Roll Years from the Date of Correction. <br />Corollary Consulting <br />For any agreed scope of services to be performed by MMC for CITY as Corollary Consulting as <br />provided for herein, MMC shall be compensated on a Time and Materials basis. MMC's standard <br />hourly rates are as follows: <br />Principal - $175/hour <br />Director - $150/hour <br />Manager - $125/hour <br />Senior Analyst - $100/hour <br />Analyst - $75/hour <br />Administrative Support - $50/hour <br />All reimbursable expenses shall receive prior approval from the CITY and shall be reimbursed at cost <br />to MMC. <br />CITY OBLIGATIONS <br />MMC shall invoice CITY for the above fee on no less frequently than a quarterly basis, based on <br />recoveries actually received by CITY. Because MMC's Property Tax Compliance Service may result <br />in collection of deficiencies after termination of the Agreement, CITY's obligation to collect fees and <br />notify MMC, and MMC's right to continue to receive payment, shall survive termination of this <br />Addendum or the Agreement for any reason. <br />