New_London_90%_CD_03-03-26_Timothy_Tracy.pdf

This is a design professional services agreement from the City of New London, Connecticut, for the Water Street Parking Garage Expansion Project. The document outlines the engagement of an outsourced controller to provide financial management and oversight services for the garage expansion initiative. The project involves the expansion of the existing Water Street Garage from approximately 1,000 parking spaces to 1,250 spaces to support the anticipated 300,000+ annual visitors expected from the new Coast Guard Museum opening in August 2027. Construction is anticipated to begin in summer 2027, with completion expected 12 to 18 months thereafter. The controller services are critical to managing project finances, budgeting, and fiscal controls throughout the design and construction phases of this significant municipal infrastructure project.

The engagement is structured to provide comprehensive financial oversight and control services through the project lifecycle. This outsourced controller arrangement addresses the City's need for dedicated financial expertise and administrative capacity management during a complex, multi-phase development tied directly to one of New London's most significant capital investments. The controller will be responsible for maintaining fiscal accountability, financial reporting, and budget management to ensure the parking garage expansion remains on schedule and within approved budget parameters during a period when the city will be simultaneously managing the Coast Guard Museum opening and preparation for substantially increased visitor volumes and parking demand.