Rudolph Clarke Attorneys Advise on Successful Sewer Authority Bid
Rudolph Clarke Managing Partner Michael Clarke, assisted by Attorney Lauren Gallagher, worked with the Firm’s client, the Borough of Conshohocken Authority, for the past several months analyzing information, preparing qualifications and ultimately submitting a successful bid to enable the Borough of Conshohocken Authority to purchase the West Conshohocken Borough sewer conveyance system.
Working with the Authority Board of Directors and Executive Director, Steve Clark, Mike and Lauren helped assemble the team that put together the successful proposal.
The team included the Authority’s Consulting Engineer Fred Ebert of Ebert Engineering Inc.; Russ McIntosh, a utility valuation expert and Vice President of HRG, Inc.; Financial Advisor William J. Carlin, Jr. of Boenning & Scattergood; and Bond Counsel David Nasatir of Obermayer Rebmann Maxwell & Hippel LLP.
Mike and Lauren first submitted information on behalf of the Authority to demonstrate that the Authority is financially secure and qualified to bid on the West Conshohocken Borough sewer conveyance system.
Mike and Lauren then worked closely with Russ McIntosh and Steve Clark to arrive at an appropriate price for the sealed bid. Russ analyzed the system’s worth based on current customers and potential for future development. Russ then outlined a range of possible bid scenarios. Mike and Lauren advised Authority staff, the Finance Committee and the Authority’s Board of Directors as bid documents were prepared and submitted. The Authority’s winning bid was $9,500,500.
Over the last several months Mike and Lauren worked closely with the Authority’s Finance Committee, Board Members Carol Smith and Janene Reilly, as well as Authority Executive Director Steve Clark and Finance Director Angela Madle-Long, to advise the Authority. The Authority’s Board of Directors, composed of Chairman Felix Raimondo, Vice Chair Carol Smith and Board members Kyle Elliott, Anita Barton and Janene Reilly, unanimously approved the purchase price.
In the coming months, Mike and Lauren will assist the Authority with the purchase of the West Conshohocken Borough sewer conveyance system assets, compile deed transfers and work with Bond Counsel. Ultimately, the Firm anticipates closing on the West Conshohocken property in June or July 2017.