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File #: Item # 2019-23    Version: 1 Name:
Type: Resolution Status: Passed
File created: 1/9/2019 In control: Town Council
On agenda: 1/16/2019 Final action: 1/16/2019
Title: A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF CUTLER BAY, FLORIDA, AUTHORIZING THE ISSUANCE OF A REQUEST FOR QUALIFICATIONS (RFQ) FOR FINANCIAL ADVISORY SERVICES; AND PROVIDING FOR AN EFFECTIVE DATE.
Attachments: 1. Manager Memo-Issuance of RFQ Financial Advisory Services, 2. Resolution-Issuance of RFQ Financial Advisory Services, 3. Resolution-Exhibit A-RFQ Financial Advisory Services



M E M O R A N D U M

To: Honorable Mayor and Town Council

From: Rafael G. Casals, ICMA-CM, CFM, Town Manager

Date: January 16, 2019

Re: Issuance of Request for Qualifications (RFQ) #19-02: Financial Advisory Services


REQUESTtitle

A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF CUTLER BAY, FLORIDA, AUTHORIZING THE ISSUANCE OF A REQUEST FOR QUALIFICATIONS (RFQ) FOR FINANCIAL ADVISORY SERVICES; AND PROVIDING FOR AN EFFECTIVE DATE.
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BACKGROUND AND ANALYSIS

The Town previously selected a financial advisory firm pursuant to RFQ #14-02. The contract provided for a three (3) year term with two (2) one-year renewal options (at the Town's discretion). The Town exercised the first renewal option effective January 5, 2018 but has declined to exercise the second renewal option. Given the competitive market conditions for these services, Town Staff believes it would be in the best interest of the Town to re-bid these services and issue a Request for Qualifications (RFQ) to identify qualified professional Financial Advisory Consulting firms.

The Town anticipates that the selected financial advisory firm assist the Town with financing, investment and other financial resource management projects that may arise from time to time. Such projects may include, but are not limited to, assisting the Town with the refinancing of its long-term debt, assisting the Town in developing a formal investment policy and analyzing and recommending potential investments, and assisting the Town in developing short, mid and long-term financing scenarios to help guide the Town in implementing its development and operating plans. Prior to releasing the RFQ, Town Ordinance No. 06-22 requires the Town Manager to seek authorization from the Town Council to advertise the solicitation for bids or proposals.

In order to comply with our procurement process, staff has developed a Request for Qualifications in which it is anticipated that the top three (3) technically qua...

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