Title
Consider recommendation from the Finance/Administrative Committee to approve an amended engagement letter with Kemp Smith for legal services.
Body
RECOMMENDED MOTION:
Move the board approve the amended engagement letter with Kemp Smith for legal services as presented.
SUMMARY:
The purpose of this agenda item is for the board to consider a Finance/Administrative recommendation to approve an amended engagement letter for General Counsel legal services. This proposed amended engagement letter is attached to this summary. The only substantive proposed change is an increase in Kemp Smith’s hourly rates, which were last increased in May 2008. If approved, the new hourly rates will go into effect August 1, 2016.
At the June 28 meeting, the Finance/Administrative Committee voted to recommend the board approve the amended engagement letter with Kemp Smith for legal services as presented.
M/WBE PARTICIPATION:
Kemp Smith is not an M/WBE vendor.
STRATEGIC PLAN REFERENCE:
This agenda item does not relate to a specific goal within the Strategic Plan, but supports the general EAA mission.
FISCAL IMPACT:
Assuming the same level of legal services, increasing Kemp Smith’s hourly rates will result in increase of about 25% over current legal expenses. Funding is available in the 2016 operating budget.