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PROPOSED CONTRACT
Department(s): Office of the General Superintendent
Vendor: Giraffe Financial, Inc., Sacramento, California
Request: Authorization for the Forest Preserves of Cook County (the "Forest Preserves") to enter into and execute
Good(s) or Service(s): Tax credit services
Contract Value: Not to exceed $10,000.00. This contract is primarily revenue generating, with revenue anticipated to be upwards of $100,000.00. Amount payable by the Forest Preserves not to exceed 10% of revenue generated.
Contract Period: One (1) year from date of execution
Estimated Fiscal Impact: FY 2026, $10,000.00
Accounts: General Revenue 51001.411467; and Professional Services 51001.520840
Contract Number(s): #74000017349
Concurrences: The Chief Financial Officer has approved this item. Final contract is subject to legal review and approval.
District(s): Districtwide
Summary: Tax credits are available for qualifying governmental and tax-exempt entities undertaking specific energy-related projects. To claim these credits, the Internal Revenue Service ("IRS") requires pre-filing registration for each eligible project, along with proper documentation and compliance procedures. This opportunity supports both the environmental and financial priorities of the Forest Preserves. Given the complexity of the filings and the importance of accurate compliance, staff recommends engaging outside expertise to provide professional tax advisory services, assist with documentation, and support the preparation and submission of the necessary IRS filings.
To ensure due diligence and to obtain competitive pricing for the required tax services, staff contacted four (4) qualified tax services providers with experience in elective direct pay fillings. Of the firms solicited, Giraffe Financial, Inc. was the sole responder within the response timeframe. Staff recommends proceeding with Giraffe Financial, Inc. to ensure the Forest Preserves is positioned to claim all eligible...
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