Title
City of Gainesville General Government Banking Services (B)
Explanation
On August 10, 2016 the City’s Purchasing Division solicited a request for proposals for City of Gainesville General Government Banking Services beginning October 1, 2017 for a term of five years, with a single five year extension permissible. Three banking firms submitted proposals by September 26, 2016. Staff reviewed and scored the written proposals on October 12, 2016, then had all three firms make oral presentations on November 10, 2016. The final ranking of the proposers is as follows:
1st - SunTrust Bank
2nd - TD Bank
3rd - Wells Fargo Bank
Fiscal Note
Banking Services fees for the City are included in the Fiscal Year 2017 City Budget.
Recommendation
The City Commission: 1) accept the Banking Services selection in order of proposer ranking; 2) authorize the City staff to initiate contract negotiations with SunTrust Bank as the Banking Services provider for City of Gainesville General Government. Should City staff be unable to negotiate a satisfactory contract with the top ranked Banking Services proposer, authorize City staff to terminate negotiations with that proposer and initiate negotiations with the second ranked proposer, and so on until a satisfactory contract is negotiated; and 3) authorize the City Manager to execute all related documents, including contract amendments and extensions.