Title
Financial Advisory Services - RFQu 26-0189 - Request for Award (Ordinance S-53161) - Citywide
Description
Request to authorize the City Manager, or the City Manager's designee, to enter into contracts with Frasca & Associates, LLC; PFM Financial Advisors LLC; Stifel, Nicolaus & Company, Incorporated; Columbia Capital, LLC; CSG Advisors Incorporated; Hilltop Securities Inc.; Montague DeRose and Associates, LLC; Piper Sandler & Co.; Sperry Capital Inc.; Tierra Financial Advisors, LLC; Public Resources Advisory Group, Inc.; Fieldman, Rolapp & Associates, Inc.; and Meeder Public Funds, Inc. to provide financial advisory services on an as-needed basis for the Finance Department. Further request to authorize the City Controller to disburse all funds related to this item. The total combined value of the contracts will not exceed $250,000. Request to apportion the total combined value among the contract awardees based on City needs and resources at the discretion of the City Manager or his designee.
Report
Summary
These contracts will provide financial, municipal, and investment advisory services to the Finance Department on an as-needed basis. Financial advisory services help to ensure that the City has access to expert guidance and specialized support, enabling more informed decision-making and strengthening the City’s financial management, capital planning, and issuance of debt.
Procurement Information
A Request for Qualifications was processed in accordance with Administrative Regulation 3.10 to establish a Qualified Vendor List (QVL).
Fourteen offerors submitted proposals and thirteen were deemed to be responsive and responsible. An evaluation committee of City staff evaluated those offers based on the following criteria with a maximum possible point total of 1,000:
- Experience and Knowledge (600 points)
- Personnel (200 points)
- Service Category Experience (200 points)
After reaching consensus, the evaluation committee recommends award to the following vendors:
- Frasca & Associates, LLC
- PFM Financial Advisors LLC
- Stifel, Nicolaus & Company, Incorporated
- Columbia Capital, LLC
- CSG Advisors Incorporated
- Hilltop Securities Inc.
- Montague DeRose and Associates, LLC
- Piper Sandler & Co.
- Sperry Capital Inc.
- Tierra Financial Advisors, LLC
- Public Resources Advisory Group, Inc.
- Fieldman, Rolapp & Associates, Inc.
- Meeder Public Funds, Inc.
Contract Term
The agreement will begin on or about October 1, 2026, for a five-year term with no options to extend.
Financial Impact
The aggregate value of the contracts will not exceed $250,000. Funding is available through various departments' budgets.
Department
Responsible Department
This item is submitted by Assistant City Manager Ginger Spencer and the Finance Department.