HomeMy WebLinkAboutR-92-0795J-9/2 844
1.2/9 i92
RESOLUTION
A RESOLUTION AUTHORIZTNG ` liE CITY MANAGER 'IC) EXECUTE
AN AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY, FOR A rIjgD-YEAR PERIOD WITH PEOPLES NATIONAL
BANK FOR THE PURPOSE OF ESTABLISHING A SPECTAL
DEPOSITORY BANK ACCOTtU.
WHEREAS, the City of Miami lia:_. a Minority and Warren -owned Procurc-lneni:
Program to further the goal of increasing the total annual volume- of all
procurement expenditures to minorit\.r and wan -van -owned business enterprises,
authorizing a minority and wDnx�n-ownicd business enterprise procurement-. set--
- aside for use by the City Manager as he may deem advisable; and
WHEREAS, the City Manager has identified revenue sources to be deposited
in three separate bank accounts wl-ien received by -the City and to be
subsequently wire -transferred within five (5) working days into the City's
main depository account; and
WHEREAS, the City currently has contracts for special. depository
accounts with minority ban}cs which are due to expire;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the preamble to this
Resolution are hereby adopted by reference thereto and incorporated herein as
if fully set forth in this Se tion.
CITE' COI�U41SSION
FIE - OIG OF
D in1092
I cl, o..aicn l,;o.
92-- 785
Section 2 . The City Manag >>_ is he.i-eby autllori-ze-d� / to an
agreement., in a form acceptable to t:he City Att=orney, for a L-wiD-W-ar period,
starting on or alxxut January 1, 1.99 with Peoples National. Bank for the
purpose of establishing a special depository bank account as stated in the
Request for Proposals.
Section 3. This Resolution sliall become effective immediately upon its
adoption.
PASSED AND ADOPTED this
A.hI'ES :
• o
MATIq HIRAI, CITY CLERK -
PREPARED AND APPROVED BY:
RAFAEL 0. DIAZ — — --
DEPUTY CITY
APPROVED AS TO FORM AND CORRECTNESS:
QUPOCITY
ROD: cs1c:3
loth day of _ DeZVinbe 1992.
AVIER L. SU Z, MA-0 --
l� The herein authorization is further subject to compliance with
all requirements that may be imposed by the City Attorney as
prescribed by applicable City Code provisions.
-2-
TO
Honorable Mayor
Members of the
FROM
Cesar H. Odio
City Manager
RECOMMENDATION:
CITY 0[ MIAMI], f LCHIf)h
INTER-oUICE ME-M0fl/\NDLIM
and DATE 1�
City Commission
SURJECT Agenda Item --
Minority Banks
REFERENCES.
ENCLOSURES
FILE
It is respectfully recommended that the attached resolution
authorizing the City Manager to execute agreements in a form
acceptable to the City Attorney, for a two year period with
Transatlantic Bank and Peoples National Bank for establishing
special depository bank accounts, be adopted.
BACKGROUND:
Since 1987 the City has had a set -aside program for minority
banks. The program intends to place a separate bank account with
each of the three groups covered by the City's Minority and Women
Business Affairs and Procurement Program; blacks, Hispanics and
- women.
The City received four proposals to the RFP previously approved
by the City Commission from the following banks:
Commercial Bank of Florida
Ocean Bank
The Hemisphere National Bank
Transatlantic Bank
A selection committee was appointed by the City Commission as
follows:
Juan Enjamio Mayor Suarez
Dewey Knight, III Vice Mayor DeYurre
Elba Morales Commissioner Dr. Alonso
James Simmons Commissioner Dawkins
Randy Holtz Commissioner Plummer
Agenda Item
Minority Bunks
Page --2-
WI-ap nic aank
The selection committee ranked the proposals as follows:
First place: The Hemisphere National Bank
Second place: Transatlantic Bank
Third place: Ocean Bank
The proposal from Commercial Bank was disallowed because they are
not minority or women owned.
The committee recommended that the Community Development Block
Grant account be given to The Hemisphere National Bank as the
Hispanic Bank.
Additionally the committee required that the bank chosen through
the selection process submit documentation as to compliance with
the following:
Community Reinvestment Act (CRA)
Public Depository Qualification
Minority Ownership
Hemisphere National Bank has not been reviewed for CRA compliance
by the U. S. Treasury and therefore was not able to meet the
selection committee requirement of CPA compliance. Therefore,
the second ranked bank, Transatlantic, which has submitted the
above documentation is hereby recommended to receive the
Community Development Block Grant Account.
Black Bank
At the time that the request for proposals was advertised the
previously black owned bank, Peoples National Bank of Commerce
was not eligible to compete due to their relationship with
Southeast/First Union. Peoples is now a Black owned bank that
meets the criteria, with the exception that as a new bank they
have not yet been reviewed and rated for Community Reinvestment
Act purposes. It is recommended that Peoples National Bank
receive the Half Cent Sales Tax Account.
Female Owned Bank
No proposals were received from women owned bank. The Finance
Department has no knowledge of any female -owned banks in Dade
County.
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