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File Number: 19-481 <br />2.B. 19-195 <br />Staff Report on results of Banking Request for Proposals (RFP) <br />Finance Director Baum shared the results of the Banking Request for Proposals (RFP). <br />There were three submittals: Wells Fargo, JP Morgan Chase, and Bank of the West. <br />Upon reviewing and rating the submittals, staff concluded that it would be in the best <br />interest to stay with Wells Fargo as the City of San Leandro's bank. <br />Mayor Cutter shared thoughts from Councilmember Lee that indicated that he was not <br />pleased with the outreach of the RFP to all banks as he knew of a couple that would have <br />participated had they known. Councilmember Lee stated that he only found out about the <br />RFP 6 days prior to the deadline and asked that the RFP be re-issued . <br />City Manager Kay stated going out with a new RFP is an option. City Manager Kay also <br />stated that he was not aware of any bank in San Leandro that was unaware of the RFP. <br />Finance Director Baum explained how staff reached out to banks, including taking calls <br />from banks that heard about the RFP. Director Baum agreed that staff can re-issue the <br />RFP and allow the three banks that participated to resubmit, including changing their <br />pricing. <br />Mayor Cutter stated that she would like to find out which banks were interested in <br />submitting a proposal. An important objective was to choose a bank that has an office <br />within the City. Therefore, if the banks that Councilmember Lee referenced have branches <br />within the City of San Leandro, then she would request staff to re-issue the RFP. <br />However, if the banks did not have a branch within city limits, she would prefer to stand <br />with what we have. <br />Councilmember Hernandez requested to see the matrix of the RFP, including the ranking <br />criteria and costs. <br />Committee asked staff to come back with the evaluation matrix and it will be determined <br />whether or not the banks Councilmember Lee knew of have offices in San Leandro <br />3. PUBLIC COMMENTS <br />Maureen Forney stated that the RFP pre-dated the new language of the investment policy, <br />which includes environmental/climate investment control. She asked that the City not stay <br />with Wells Fargo as the City has already stopped investing in Wells Fargo and they were <br />Page 3 City of San Leandro Printed on 9/11/2019 <br />35