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<br />conducts possibly 12-15 trades a year and shared that the City currently pays approximately $40k <br />annually to Chandler for portfolio management services. The annual amount paid to Chandler is <br />based on portfolio size, even if no trades are conducted. A draft Request for Proposal (RFP) for <br />brokerage service should be available late winter/early spring 2007. <br /> <br />Councilmember Starosciak questioned how long the City would retain Chandler's service as a <br />portfolio manager. Baloca stated that he would first like to work with Chandler and determine if <br />he can modify the relationship to a performance based/brokerage relationship, while also <br />retaining some reporting and market trend assistance. <br /> <br />In response to Young's question on choosing brokerage providers, Baloca stated that he would <br />like to retain two to three brokers and would ideally like to keep an investment relationship with <br />Chandler, but at a significantly reduced fee. <br /> <br />In response to Young's question on which brokerage houses would be selected, Baloca said that <br />the selection would be primarily based on the qualifications and personalities of the individual <br />broker, not the company since good people can move between companies/firms and still provide <br />the same service and product. Young commented that the City should try to select companies <br />located in San Leandro. <br /> <br />4. Public Comments <br /> <br />Resident Marianne Camp applauded the way the City is handling the living wage issue. She <br />commented that contracted out positions should not be paid more than City employees. <br /> <br />S. Committee Member Comments <br /> <br />None. <br /> <br />6. Adjourn <br /> <br />Meeting was adjourned at 4:50 p.m. <br />