Laserfiche WebLink
<br />COUNCIL COMMUNICATION <br /> <br />TO: <br />FROM: <br />DATE: <br /> <br />MAYOR AND CITY COUNCIL <br />MALCOLM FLEMING, CITY MANAGER <br />APRIL 19, 2010 <br />UPDATE ON BANKING SERVICES PROCUREMENT PROCESS <br /> <br />SUBJECT: <br /> <br />ORIGINATING <br />DEPARTMENT: <br /> <br />SUMMARY: <br /> <br />FINANCE <br /> <br />On November 2, 2009, the Finance Department issued a Request for Proposals for Banking Services <br />document (RFP) to all banks that have a full service branch within the City of Louisville. <br /> <br />On November 23, 2009, the Finance Department held a pre-bid conference for prospective bidders. <br />Attendance at the pre-bid conference exceeded expectations with 17 individuals representing 7 different <br />banks. <br /> <br />The deadline for asking questions or requesting clarifications of the RFP was extended from November <br />23 to November 25, 2009. In addition to the questions asked at the pre-bid conference, the Finance <br />Department received over 50 written questions by the deadline. These questions and answers have <br />been placed on the City's Website and have been e-mailed to all who attended the pre-bid conference. <br /> <br />On or before the deadline of December 7, 2009, the City received Letters of Intent from 6 banks. The <br />only bank attending the pre-bid conference that declined to bid was US Bank. On or before January 4, <br />2010, the City received proposals from all banks that submitted a Letter of Intent: <br /> <br />. Bank of the West <br />. First National Bank <br />. Great Western Bank <br />. JP Morgan Chase Bank <br />. Key Bank <br />. Wells Fargo <br /> <br />On January 12, 2010, all proposers were notified that the Schedule of Events in the RFP would be <br />delayed due to unforeseen events and other priorities. <br /> <br />An Evaluation Committee consisting of Kevin Watson, Finance Director, Penney Bolte, Tax Manager, <br />and Barb Kelley, Accounting Manager reviewed and evaluated each proposal. Selection criteria <br />included: <br />. The ability to meet current and projected service requirements over the term of the banking <br />agreement; <br />. The quality level of services to be performed and the proposed approach to cost control, service <br /> <br />IE <br /> <br />SUBJECT <br /> <br />UPDATE ON BANKING SERVICES <br />PROCUREMENT PROCESS <br /> <br />AGENDA ITEM <br /> <br />6 <br />