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Home My WebLink AboutExhibit 1 03-24-11Term 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 FirstSouthwest 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). Compensation: The amount of compensation payable by the City to FirstSouthweest shall be. based on the proceeds of bonds issued and in accordance with the fee structure identified in Attachment B of the PSA. 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/$1M; Workers' Compensation Special Provisions: All specifications requirements identified in RFP 245238 will be physically attached and incorporated by reference into the PSA. Special Provisions: FirstSouthwest's Proposed Approach to Providing the Services is Exhibit A of the PSA. Special Provisions: Accounting/Administrative records are to be available for audit and inspection and are to be retained for 36 months after termination of PSA (Section 7 of PSA). 476 7.0-3 701X pS 14 4cAwiaHa .ES Ys4'Si o toJS'4— ATTACHMENT A - FEE PROPOSAL Proposers shall fully complete and return this Attachment with their Proposal Response. Failure to so complete and return the same shall disqualify Proposer. Additionally, Proposer may describe services and fees in detail along with this Attachment A. Description Fee Bond Issues: ® Established Debt Program Transaction Fee * Stated in Dollars ($) per Bond Terms: First SI 0,000,000.00 Second $10,000,000.00 Next S20,000,000.00 Over $40,000,000.00 $ 1.00 $ .85 $ O 00 .75 $ 9-. 70 .60 • New Debt Program Transaction Fee * Stated in Dollars ($) per Bond Terms: First $10,000,000.00 $ 1.00 Second $10,000,000.00 $ . 85 Next $20,000,000.00 $ 0-: 3G .75 Over $40,000,000.00 $ -0--7 0 .60 Separate Task Assignment: Hourly Rate Scale by Class/Type (Principal/Partner, Officer, Associate, Para - Professional, etc.) Title: Senior Vice President and Above Hourly Rate: $-a-95--88- 175.00 Title: vice President Hourly Rate: $ its . 99- 175.00 Title: Assistant Vice President Hourly Rate: $ 150. 00 Title: Associate Hourly Rate: $ 100.00 Title: Analyst Hourly Rate: $ 75.00 Tit1e~—Aamznistrariwe-suit 1--1our-I.y_Rat $._ __ _so__ ilia __. Name of Proposer: ! 02 + w ° S l v)-resie,) Authorized Signature: /iIP(..64224 Date: `c)'2 j J ► 0 Page 41 /eJ%Z -# l0-3 7a)./ Term 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 the PFM Group 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). Compensation: The amount of compensation payable by the City to the PFM Group shall be based on the proceeds of bonds issued and in accordance with the fee structure identified in Attachment B of the PSA. 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/$1M; Workers' Compensation Special Provisions: All specifications requirements identified in RFP 245238 will be physically attached and incorporated by reference into the PSA. Special Provisions: PFM's Proposed Approach to Providing the Services is Exhibit A of the PSA. Special Provisions: Accounting/Administrative records are to be available for audit and inspection and are to be retained for 36 months after termination of PSA (Section 7 of PSA). //o--374/' Authorized Signature: J J J J PSA 4 c4to. enIL- a PPW Grp &tp ATTACHMENT A - FEE PROPOSAL Proposers shall fully complet`. ano return this A ttacho erit with their Proposal Response. Failure to so complete and return the same shall disqualify Proposer. Additionally; Propose: may describe services and fees in detail along with this Attachment A. Description bond Issues. e Established Debi Program Transaction Fee Stated in Dollars ($) per Bond Terms: First SI0,000,000.00 Second $10,000,000.00 Next S20,000,000.00 Over 540,000,000.00 u New Debt Program Transaction Fee Stated in Dollars ($) per Bopd Terms: First S10,000,O00.00 Second $10,000,000.00 Next $20,000,000.00 Over $40,000,000.00 Separate Taslc Assignment: Fee $ 1.00 $ 0 . e5 $ 0.75 $ 0.60 $1.OD $0.85 $0.75 10.60 Hourly Rate Scale by Class/Type (Principal/Partner, Officer, Associate, Para - Professional, etc.) Title: Managing Director Hourly Rate: $175. OD Title: Senior managing Consultant Hourly Rate. $ 150 . 00 Title: Consultant Hourly Rate; $ 140.00 Title: Administrat_ve Hourly Rate:. $ 50.00 Title: Hourly Rate: $ Title: ourly Rate: $ Name of Proposer: Public Financial Management, Inc. Date: /2/2% iew.4//a3 V--6/ cm' 0= f IAMI, FLORIDA. INTER -OFFICE MEMORANDUM To: I(enje'n Robertson. Direa0r /tehasing Deuarrraent DACE SUBJECT : Janl]ary4 201 FILE : Rejection of the EVa1UafO11 Comrrirwe's RecommendatlOn for RFP 245238 - Financial Advisory FRDIi,: RE _RENCES`. Tony E. Crapp, jr. Cny Mans ENG_OSUFL--E: ervlces The attached Letter is the recommendation of the Evaluation Committee for REP 245238 for Financial Advisory Services, which was approVed by former City Manager Carlos A. Migoya on November 18, 2010. The City of Miami Procw-ement Code, Section 18-86(c)(6)(a)(2), states: ":After reviewing the evaluation committee's recommendation, the Ciiy Manager may reject the evaluation committee's recommendation and instruct the evaluation committee to re-evaluate and make further retiom nendations." Please be advised that I am rejecting the attached recommendation of the Evaluation Committee as presented and am instructing the Evaluation Committee to make further reco it enria ions. Historically, the City of Muni has awarded maitiple contacts for these services. APPROVED: •• January 25.2011 City of Miami Ann: Tony E. Crapp, Jr., City Manager 444 S.W. 2n0 Ave., 10' Floor Miami. FL 33130 RE Recommendation of the Evaluation Committee bar RFP 245238 — Financial Advisory Services Mr. Crape: As Chairperson of the Evaluation Committee ('Committee") for the above services for the City of Miami, it is my responsibility 10 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), appobrted by the City Manager, met on November 9. 2010, end was comprised of the following oMividuals: 1. Carol Gardner, TEDC 2, Manuel J. Vadilb, Esq.. TorresNadiEo LLP 3. Pablo Acosta. Esq.. Law Offices of Pablo Acosta. P.A. (Chair) Following discussion, evaluation and de*beretion of the roar proposals received, the Committee ranked the firms as follows: 1. The PFM Group (273 points) 2. FirstSouthwest (258 points) 3. Estrada Nmojosa 8 Company. Ira. (224 points) 4. Public Resources Advisory Group (222 points) The Evaluation Committee recommends that the City negotiate contracts with the top tworanked fines, The PFM Group and FirstSoutmvest, respectively. The Evaluation Committee further recommends that 1) should negotiations fail with one of these 6mts, that the City finalize negotiations for only one contract for these services, as the Proposers ranked third and fourth, respectively. ere not recommended for negotiations', end 2) should negotiations fail with both of these firms, that the Purchasing Department issue a new Request for Proposal. Upon successful contract negotiations. pre recommendation from the City Manager to the Cily Commission seeking permtsslon to authorize and execute professional services agreements will be presented at the nett avertable meeting. Your signature below represen .• .royal of the Committee's recommendation. 2S4i Tony E. Crapp. Jr.. esg' lnager DATE: Rabb • -eta, Esq.