Request for Proposal received January 3, 2019 for S33-T26570 - Approve an ordinance awarding a professional services contract to JPMorgan Chase Bank, N.A. in the amount not to exceed $1,597,453.97 for the Depository Banking Services for the Controller’s Office.
Specific Explanation:
The Houston City Controller and the Chief Procurement Officer recommend that City Council approve an ordinance awarding a three-year professional services contract, with two one-year options to JPMorgan Chase Bank, N.A. in the amount not to exceed $1,597,453.97 for the Depository Banking Services for the Controller’s Office. The Houston City Controller and/or The Chief Procurement Officer may terminate this contract at any time upon thirty (30) days written notice to the contractor.
The scope of work requires the contractor to provide cash management and safekeeping services for City’s Investment System. The key objectives are to maintain approximately twenty- six (26) accounts for the City, as part of the City’s Cash Management System. Services included, but not limited to:
- Maintain the City’s concentration account
- Transfer City deposits
- Fund all City accounts daily from the City’s Concentration Account
- Maintain twenty-six (26) deposit accounts
- Accept Automated Clearing House (ACH) payments
The Request for Proposal (RFP) was advertised in accordance with the requirements of the State of Texas bid laws. As a result, proposals were received from: JPMorgan Chase Bank, N.A., Bank of America, NA and Cadence Bank. The evaluation committee consisted of members from the Controller’s Office, Administrative and Regulatory Affairs (ARA) Houston Airport System, Finance and Houston Public Works department.
The proposals were evaluated based upon the following criteria:
- Responsiveness
- Technical Competence
- Price Proposal
After a detailed evaluation, JPMorgan Chase Bank, N.A. received the highest overall score and is well qualified to perform the required services as outlined in the RFP.
M/WBE Subcontracting:
The RFP solicitation was advertised with an 11% goal for M/WBE participation. JPMorgan Chase Bank, N.A. has designated the below named companies as its certified MWBE subcontractors.
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SUBCONTRACTOR
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TYPE OF WORK
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%
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Bates & Coleman PC
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Professional & Staff Services
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3.67%
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Cersonsky, Rosen & Garcia PC
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Professional & Staff Services
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3.67%
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TGE Resources
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Loan Services
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3.67%
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Pay or Play Program:
The proposed contract requires compliance with the City's 'Pay or Play' ordinance regarding health benefits for employees of City contractors. In this case, the contractor will provide health benefits to eligible employees in compliance with City policy.
Hire Houston First (HHF):
The proposed contract requires compliance with the City's 'Hire Houston First' ordinance that promotes economic opportunity for Houston businesses and supports job creation. In this case JPMorgan Chase Bank, N.A. does not meet the requirement for HHF designation, but they were the successful awardee without application of the HHF preference.
Fiscal Note:
Funding for this item is included in the FY 2020 Adopted Budget. Therefore, no Fiscal Note is required as stated in the Financial Policies.
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_______________________________________
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___________________________________
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Jerry Adams, Chief Procurement Officer
Finance/Strategic Procurement Division
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Department Approval Authority
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Estimated Spending Authority
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DEPARTMENT
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FY2020
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OUT YEARS
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TOTAL
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Houston Public Works
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$112,000.00
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$862,416.92
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$974,416.92
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Finance Department
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$79,872.69
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$319,490.80
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$399,363,.49
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Controller’s Office
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$41,539.80
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$166,159.22
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$207,699.02
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Houston Airport System
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$3,194.91
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$12,779.63
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$15,974.54
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| TOTAL
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$236,607.40
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$1,360,846.57
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$1,597,453.97
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