PROFESSIONAL_SERVICESAPPROVED

City of Olmos Park Economic Development Corporation Meeting Agenda May 2026

Olmos Park EDC Approves Tax Consulting Agreement With HdL

$6,100.00 annually plus 30% commission on Recovered, Future, and Increased TaxesCity of Olmos ParkHDL COMPANIESMay 3, 2026

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Description

The Olmos Park Economic Development Corporation approved a Consulting Services Agreement with HdL Companies for sales and use tax administration, recovery, and economic development analytics. The contract provides for a $6,100 annual fee plus 30% commission on recovered, future, and increased taxes, beginning May 1, 2026, with automatic annual renewals. The agreement is intended to help maximize revenue and support strategic finance objectives for the City and EDC.

Contract Details

Contract Amount

$6,100.00 annually plus 30% commission on Recovered, Future, and Increased Taxes

Vendor

HDL COMPANIES

Agency

City of Olmos Park, TX

Contract Type

PROFESSIONAL_SERVICES

Document Date

May 3, 2026

Contract Term

Initial term of twelve (12) months commencing May 1, 2026, automatically renewing in twelve (12) month increments unless terminated

Renewal Date

2027-04-30

Renewal Info

Agreement runs for an initial 12-month term starting May 1, 2026, and automatically renews in 12-month increments unless terminated per Section 10. Annual reports and consultation fee may be increased each renewal based on CPI with a 2% minimum and 10% maximum. Commission obligations on Recovered, Future, and Increased Taxes survive termination until all such commissions are paid.