HomeMy WebLinkAboutR-87-0451J-87-412 f --�'_
4/24/87 RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
NEGOTIATE AND ENTER INTO A CONTRACT FOR
A
TWO-YEAR PERIOD WITH M HANK FOR
ESTABLISHING A SPECIAL DEPOSITORY ACCOUNT.
WHEREAS, the City of Miami has a Minority and Women -
Owned Procurement Program to further the goal of increasing the
total annual volume of all procurement expenditures to minority
and women -owned business enterprises, authorizing for a minority
and women -owned business enterprise procurement set -aside for use
by the City Manager as may deem advisable; and
WHEREAS, the City has its regular banking services
under contract until December, 1987; and
WHEREAS, the City Manager has identified three revenue
sources to be deposited in three separate bank accounts when
received by the City and to be subsequently wire -transferred
within five (5) working days into the City main depository
account; and
WHEREAS, Resolution 87-124 authorized the City I-lanager
to enter into contracts with Black and Women -Owned banks for
establishing special depository accounts;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The City Manager is authorized to negotiate
and enter into a contract for a two year period starting on June
1, 1987, for a special depository bank account, as stated in the
Request for Proposals approved by Resolution 86-999, with
M BANK , a Hispanic bank.
Section 2. Implementation of this resolution is subject
to positive confirmation from regulatory agencies of information
provided by the bank in its proposal for these services to the
City of Miami.
PASSED AND ADOPTED this 14th day of _ Ma�, 1987.
j ATTEST:
M
I
K/MATTY HIRAI
CITY CLERK
r
XAYIER L. REZ
MAY OR
Ecrry Cc�i�ssu
MEETING OF
MAY 14 1987
vIN , W-45
rL
APPROVED BY: BUDGET REVIEW:
ROBERT F. CLARK MANOHAR S. RANA, DIRECTOR
CHIEF DEPUTY CITY ATTORNEY MANAGEM&I & BUDGET DEPT.
APPROV ,0" AS' TO FORM FINANCE REVIEW:
AND ORRECTNESS:
CARLO E. GARCIA, DIRECTOR
LUCIA A. DOUGH RTY DEPARTMENT OF FINANCE
CITY ATTORNEY
117--451.
a
CITY OF MIAM1, FLORIDA
INTER -OFFICE MEMORANDUM
TO. Honorable Mayor and Members DATE: MAY 0 6198 7 FILE:
of the City Commission
FROM:
Cesar H. Odio
City Manager
SU1lJECT: Resolution Authorizing
City Manager to Enter
Into a Contract with
a Hispanic Bank
REFERENCErMeeting of 5/14/87
ENCLOSURES:
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the
attached resolution authorizing the City Manager to enter into a
contract with a Hispanic Bank for establishing a special bank
account for a period of two years starting on June 1, 1987.
BACKGROUND:
The City Commission adopted Resolution 86-999 authorizing the
City Manager to request proposals from Minority and Women -Owned
Banks for Establishing Special Bank Accounts for a period of two
years.
Resolution No. 87-124, passed and adopted on February 12, 1987,
authorized the City Manager to enter into two year contracts with
a Black, and Female -Owned banks, A Hispanic Bank had not been
recommended at that time, pending receipt of the following
additional information from the proposer banks:
Specific Ownership
Recent Affirmative Action (AA) and Equal Employment
Opportunity (EEO) Report.
Compliance Information Related to the Community Reinvestment
Act.
The Department of Finance and General Services Administration
have evaluated the proposals and supplementary information and
have ranked and recommended the top three proposals as follows:
First Choice: Banco Pedroso
Second Choice: M Bank
Third Choice: Consolidated Bank
Attached is a brief evaluation of the banks that responded to the
original Request for Proposal and to the request for
supplementary information.
8 rWL
r
EVALUATION OF RESPONDING BANKS
Banco Pedroso
It provided the best
response
to all
elements, and it
clearly documented that
over 51%
of the
stock is Hispanic
owned. The EEO Policy was
provided and specific
indications of the results of
their
investment in the
Hispanic community in
the S.
W. 8th
Street area were
provided, along with
their Community
Reinvestment Act
Statement and Notice.
The bank is
located in Coral
Gables with a drive-in
facility
in Miami.
M Bank
It documented its Hispanic ownership, over 51%, but did
not provide an WEED Policy Statement. In addition to
their Community Reinvestment Act and Notice, they
indicated that approximately 60% of their loan portfolio
was minority loans. The bank is located within the City
of Miami.
Consolidated Bank
It provided a good EEO Policy and Community Reinvestment
Statement, but neglected to indicate any tangible results
of their reinvestment. Other than a statement in their
letter, Consolidated did not document their Hispanic
ownership and management, indicated to be 99.5%. Main
office located in Hialeah with branches in Miami.
Capital nand,
It is listed on the U. S. Treasury Department's Roster of
Minority Banks and the information provided indicated
that three U. S. Citizens of Hispanic origin are the
majority owners. Hispanics account for approximately
twelve percent (12%) of the managerial and seven percent
(7%) of the professional staff at Capital. It did not
provide any tangible documentation of their reinvestment
activities, particularly as they related to the Hispanic
community. The main office is located in North Bay
Village, with several branches in Miami.
Alliance National Bank
It has forty-five percent (45%) Hispanic ownership,
therefore, it is not considered to qualify as having
Hispanic majority ownership under this set -aside program.
Only documentation provided on their Community Reimburse-
ment activity was a second mortgage for an Allapattah
business. No AA/EEO was provided. The bank seems to be
located in unincorporated Dade County adjacent to the
Miami city limits.
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87-451