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Civic Center <br />835 East 14th Street <br />San Leandro, California <br />City of San Leandro <br />Draft Minutes <br />Finance Committee <br />Mayor Pauline Russo Cutter <br />Councilmember Ed Hernandez <br />Councilmember Benny Lee <br />5:30 PM City Hall, Sister Cities GalleryTuesday, November 13, 2018 <br />CALL TO ORDER1. <br />5:30pm <br />Attendance1.A. <br />Committee Members: Mayor Cutter, Councilmember Hernandez <br />Absent: Councilmember Lee <br />City Staff: City Manager Kay, Finance Director Baum, Budget & Compliance <br />Manager Perini, Police Business Manager Koll <br />Public: Bill Dennehy <br />Announcements1.B. <br />DISCUSSION ITEMS2. <br />2.A.18-587 Continued Discussion on Divestiture from Wells Fargo Bank Due to its <br />Funding of the Dakota Access Pipeline (DAPL) Project <br />City Manager Kay introduced the continued discussion of the divesture from <br />Wells Fargo as previously discussed at a past Finance Committee meeting as <br />well as Council. Staff has prepared a Request for Proposals (RFP) and is ready <br />to send out. There will be a discussion of the criteria but it is a judgement call. <br />Staff will bring the results to public forum for further discussion and City <br />Council for determination <br />Finance Director Baum stated that Wells Fargo has done a great job for a good <br />price however agreed that it is a good time to go out and do a RFP. Mr. Baum <br />stated that responses will be due after January 1st, due to the Holidays. Will <br />come back to committee on recommendations as well as review criteria <br />Mayor Cutter stated that social issues not part of criteria of the RFP. Council <br />will discuss and determine the requirements on social issues but agrees that <br />we do not want to put too many restrictions as we want all qualified banks to <br />respond. <br />Mr. Baum stated that the RFP critieria does include some social issues such as <br />environmental sustainability and community involvement and reinvestment. <br />Page 1City of San Leandro Printed on 12/11/2018