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SUBJECT: PRELIMINARY ASSESSED VALUATION <br />DATE: SEPTEMBER 19, 2022 PAGE 2 OF 2 <br />On July 14, 2020, the City Council approved an option to extend the investment <br />management services contract with Chandler for an additional one year. Although the <br />contract allows another one-year extension, there has been no formal Council approval <br />to do so. <br />Staff is recommending that the Council authorize approval of a new two-year agreement <br />(with three one-year options to renew) with Chandler Asset Management for Investment <br />Management Services. Upon approval from the Finance Committee, staff will bring <br />forward to the full City Council for approval. <br />A copy of the proposed contract is attached to this communication. There is no additional <br />fiscal impact to the new contract. The current fee schedule is the same that went into <br />effect in 2010. <br />CITY COUNCIL COMMUNICATION <br />15 <br />