HomeMy WebLinkAboutExhibit 1 02-24-11Term Sheet for the Award and Execution of a Professional Services Agreement
in Response to RFP 245238 for Financial Advisory Services
Contract Type:
Parties:
Subject Matter:
Term:
Termination
Provisions:
Fee Structure:
Budgetary Ceiling:
Hold Harmless/
Indemnification:
Compliance with All
Laws:
Licenses and Permits:
Insurance:
Special Provisions:
Special Provisions:
Special Provisions:
Professional Services Agreement (PSA)
City of Miami and the PFM Group
Financial Advisory Services
One year term, with four one-year renewal options. In the event that Provider
is engaged in a Project(s) on the agreement expiration date, then the
agreement shall remain in effect until completion or termination of said
Project(s). No new projects may be assigned after the agreement expiration
date.
By the City Manager, for convenience, with five business days written notice.
In the event of default, by the City Manager without notice.
Attachment B of the PSA details compensation and fee structure (attached).
$500,000.00 (Covers the one-year term and all four one-year renewal options).
Section 11 of PSA (City Boilerplate Language)
Section 10 of PSA (City Boilerplate Language)
Professionals must be licensed as required by law.
Per Exhibit D of the PSA. General Liability: $1M/$2M/$1M; Auto Liability S1M;
Errors and Omissions $1M/$1M; Workers' Compensation
All specifications requirements identified in RFP 245238 will be physically
attached and incorporated by reference into the PSA.
PFM's Proposed Approach to Providing the Services is Exhibit A of the PSA.
Accounting/Administrative records are to be available for audit and inspection
and are to be retained for 36 months after termination of PSA (Section 7 of
PSA).
PSG 444Ac4ireet4
PPR 6retotp
TIAcHMENT A - FEE PROPOSAL
Proposers shall fully complete and r5111711 this Attachment with their Proposal Response.
Failure to so complete and realm the same shall disqualify Proposer. Additionally;
PrOPOSCY may describe services and fees in ..Jetail along with this Attachment A.
Description
Bond Issues:
• Established Debi Program Transaction Fee.
Stated in Dollars (3) per Bond Terms:
First $10,000,000.00
Second $10,000,000.00
Next.. 820,000,000.00
Over $40;000,000.00
• New Debt Program Transaction Fee
Stated in Dollars (S) per Bond Terms:
First $10,000000.00
Second $10,000,000.00
Next $20,000,000.00
Over $40,000;000.00
Separate Task Assignment:
Fee
$ 2.00
$ 0.85
$ 0.75
0_60
$ 2.00 .
$ 0.85
$ 0.75
$ 0 . 60
Hourly Rate Scale.by Class/Type (Principal/Partner, Officer, Associate, Para -
Professional, etc.)
Title: Managing Director Hourly Rate: $ 175.00
Title: Senior managing Consultant Hourly Rate: $ 150.00
Title: Consul t ant Hourly Rate: $ 1.00.00
Title: Administrative Hourly Rate: . $ 50 • DO
Title: Hourly Rate: $
Title: Hourly Rate: $
Name of Proposer: Public Financial Management, Inc.
Authorized Signature:
Date: ,./7//2---r4'‘;
T e.rm Sheet for the Award and Execution of a Professional Services Agreement
in Response to RFP 245238 for Financial Advisory Services
Contract Type: Professional Services Agreement (PSA)
Parties: City of Miami and Firs Southwest
Subject Matter: Financial Advisory Services
Term: One year term, with four one-year renewal options. In the event that Provider
is engaged in a Project(s) on the agreement expiration date, then the
agreement shall remain in effect until completion or termination of said
Project(s). No new projects may be assigned after the agreement expiration
date.
Termination
Provisions:
By the City Manager, for convenience, with five business days written notice.
In the event of default, by the City Manager without notice.
Fee Structure: Attachment B of the PSA details compensation and fee structure (attached).
Budgetary Ceiling: $500,000.00 (Covers the one-year term and all four one-year renewal options).
Hold Harmless/
Indemnification: Section 11 of PSA (City Boilerplate Language)
Compliance with All
Laws:
Section 10 of PSA (City Boilerplate Language)
Licenses and Permits: Professionals must be licensed as required by law.
Insurance: Per Exhibit D of the PSA. General Liability: $1M/$2M/$1M; Auto Liability $1M;
Errors and Omissions $1M/$1M; Workers' Compensation
Special Provisions: All specifications requirements identified in RFP 245238 will be physically
attached and incorporated by reference into the PSA.
Special Provisions: PFM's Proposed Approach to Providing the Services is Exhibit A of the PSA.
Special Provisions:
Accounting/Administrative records are to be available for audit and inspection
and are to be retained for 36 months after termination of PSA (Section 7 of
PSA).
Rif 54-S'o
ATTACHMENT A - FEE PROPOSAL
Proposers sha l fuliv complete and rei m tills Attachment with then, Proposal Response.
Failure to so complete and return Ills same snali disqualify Proposer. `.ddit10ilalil',
Proposer nia'y' describe services and fees in detail along with this Attachment A.
Description Fee
Bond Issues:
Established Debt Program Transaction Fee
Stated in Dollars (S) per Bond Terms:
First S10,000,000.00 $ 1.00
Second S10,000,000.00 $ 0.95
Next S20,000,000.00 S 0.90
Over S40,000,000.00 $ 0.70
Minimum Fee of $17,500.00
i New Debt Program Transaction Fee
Stated in Dollars (S) per Band Terms:
First S10,000,000.00
Second S10,000,000.00
Next S20,000,000.00
Over S40,000,000.00
x Minimum Fee of $17,500.00
Separate Task Assignment:
$ '•.00
$ 0.95
$ 0.90
$ 0.70
Hourly Rate Scale by Class/Type (Principal/Partner, Officer, Associate, Para -
Professional, etc.)
Title: senior vice President and bbove Hourly Rate: S 195.00
Title: Vice President Hourly Rate: $ 185.00
Title: Assistant Vice President Hourly Rate: $ 150 . 00
Title: Associate Hourly Rate: $ 100 . 00
Title: Analyst Hourly Rate: S 75.00
— =Tale'— ministsa�i've ST:ati
Name of Proposer: f a
Hourly Rate: $ 50.00
F.Jej'1
Authorized Signature: r—c5=t! 44 Date: /6
1
C-Y OF hMi.AW, FLORIDA
INTER -OFFICE MEMORANDUM
O:
Ken.neth Robertson, Director
Purchasing Deoai=ent
FROM:
.i anu.'z- �' 'J 0 1
DATE: =1_:
S1UBJ=CT : R jec?ion of the Evaluation
ComTninee's Recommendation for
RFP 24238 — Financial Advisory
Tony E. Craap, Jr.
City ivianaae:
REFERENCES . '" '1Ga5
ENCLOSURES:
The attached letter is the recommendation of the Evaluation Committee for RFP 245238 for
Financial Advisory Services, which was approved by former City Manager Carlos A. Migoya on
November 18, 2010. The City of Miami Procurement Code, Section 18-86(c)(6)(a)(2), states:
"_Sher reviewing the evaluation committee's recommendation, the City MRnauer may reject the
evaluation committee's recommendation and instruct the evaluation committee to re-evaluate
and make further recommendations."
PIease be advised that I am rejecting the attached recommendation of the Evaluation Cornm+ittee
as presented and am instructing the Evaluation Committee to make further recommendations.
Historically, the City of Miami has awarded multiple contracts for these services.
January 25.2011
City of Miami
Attn: Tony E. Crapp, Jr., City Manager
444 S.W. 2"v Ave., 10' Floor
Miami. FL 33130
RE: Recommendation of the Evaluation Committee for RFP
245238 — Financial Advisory Services
Mr, Crapp:
As Chairperson of the Evaluation Committee ("Committee") for the above services for the City of Miami, it is my
responsibility to offer the findings and recommendation of the Committee.
The City issued RFP 245238 for Financial Advisory Services on October 14, 2010, and the four (4) Proposals
received on November 1, 2010. were deemed responsive. The Evaluation Committee ('Committee'), appointed by
the City Manager, met on November 9, 2010, and was comprised of the following individuals:
1. Carol Gardner, TEDC
2. Manuel J. Vadillo, Esq., TorresNadillo LLP
3. Pablo Acosta. Esq., Law Offices of Pablo Acosta. P.A. (Chair)
Following discussion, evaluation and deliberation of the four proposals received, the Committee ranked the firms as
follows:
1. The PFM Group (273 points)
2. FirstSouthwest (258 points)
3. Estrada Hinojosa & Company, Inc. (224 points)
4. Public Resources Advisory Group (222 points)
The Evaluation Committee recommends that the City negotiate contracts with the top two -ranked firms, The PFM
Group and FirstSouthwest, respectively. The Evaluation Committee further recommends that: 1) should negotiations
fail with one of these firms. that the City finalize negotiations for only one contract for these services, as the
Proposers ranked third and fourth, respectively, are not recommended for negotiations; and 2) should negotiations
fail with both of these firms, that the Purchasing Department issue a new Request for Proposal.
Upon successful contract negotiations. the recommendation from the City Manager to the City Commission seeking
permission 10 authorize and execute professional services agreements wit be presented at the next available
meeting.
Your signature below represen pproval of the Committee's recommendation.
APPROVED:
Tony E. Crapp. an
er
DATE:
ii f 2 s///