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Packet 20230710 Special
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Last modified
3/21/2024 5:53:26 PM
Creation date
7/12/2023 11:20:17 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
7/10/2023
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Term: <br />•10 or 15-year base <br />•Extension options <br />Term: <br />•10-year base <br />•Five, 1 -year extension <br />options <br />KEY BUSINESS TERMS <br />15 <br />Current Proposed <br />Compensation: <br />•Annual index rate adjustments <br />•No cap on annual adjustments, <br />however, Council approval <br />required if increase exceeds <br />10% <br />Compensation: <br />•Annual index rate adjustments <br />•2-3 cost-based rate <br />adjustments during base term <br />•Caps on annual adjustments <br />Special Rates: <br />•Senior rate – Pending legal <br />review
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