Summary of Specifications:
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov PROCUREMENT DIVISION PUBLIC NOTICE Tel: 305-673-7490, Fax: 786-394-4002
FOR INVESTMENT ADVISORY SERVICES
Request for Proposals (RFP) No. 11-08/09
Scope of Services
The City is seeking proposals from firms interested in providing investment advisory services to manage and direct the City’s investments. The successful firm would manage and direct the investment of excess funds in accordance with the City’s investment objectives as set forth in City of Miami Beach’s Investment Policy. The key objectives of the City’s investment policy are safety of capital, sufficient liquidity to meet requirements and attaining market–average rates of return. Excess funds are defined as funds not required to meeting short term expenditures of the City. Currently, funds available for investment consist of approximately $400 million which include: $225 million from operating funds, $114 million from various bond proceeds, and $66 million from the Miami Beach Redevelopment Agency (RDA).
The City expects its investment advisor to be highly experienced, a leader and innovator in the management of investments, and able to provide comprehensive investment advisory services. The firm selected as the investment advisor and its affiliates will be restricted from selling to the City, or buying from the City, any securities to or from that firm’s own inventory or account. The investment advisor will also be restricted from placing into the City’s portfolio any securities for which it, or an affiliate, is the issuer. Investment advisors will not provide custodial services or security safekeeping. All City investments, except for swap agreements must be held in an independent custodial account.
Fees for such services are competitive and would be paid from additional investment earnings.
It is anticipated that the successful proposer will negotiate with the City for a term contract with an initial term of three (3) years, with an option to renew for an additional two (2) one-year extensions at the City’s sole discretion.
Sealed proposals will be received until 3:00 PM on January 30, 2009 at the following address:
City of Miami Beach City Hall Procurement Division - Third Floor 1700 Convention Center Drive Miami Beach, Florida 33139
Any proposal received after 3:00 PM on January 30, 2009 will be returned to the proposer unopened. The responsibility for submitting proposals before the stated time and date is solely the responsibility of the proposer.
The City will not be responsible for delays caused by mail, courier service, including U.S. Mail, or any other occurrence.
A Pre-Proposal Submission Meeting is scheduled for January 15, 2009, at 10:00 A.M. at the following address: City of Miami Beach City Hall – Fourth Floor 1700 Convention Center Drive City Manager’s Large Conference Room Miami Beach, Florida 33139
The City of Miami Beach is using RFP Depot, a central notification system which provides bid notification services to interested vendors. RFP Depot allows for vendors to register online and receive notification of new bids, amendments and awards. Vendors with Internet access should review the registration options at the following website: www.rfpdepot.com.
If you do not have Internet access, please call the RFP Depot’s vendor support group at 801-765-9245.
Attendance (in person or via telephone) to this Pre-Proposal submission meeting is encouraged and recommended as a source of information, but is not mandatory. Proposers interested in participating in the pre-Proposal submission meeting via telephone must follow these steps:
(1) Dial the TELEPHONE NUMBER: 1-800-915-8704 (Toll-free North America)
(2) Enter the MEETING NUMBER: *2659980* (note that number is preceded and followed by the star (*) key).
Proposers who are interested in participating via telephone, please send an e-mail to mariaestevez@miamibeachfl.gov expressing your intent to participate via telephone at least one business day in advance of the meeting.
THE CITY OF MIAMI BEACH RESERVES THE RIGHT TO ACCEPT ANY PROPOSAL DEEMED TO BE IN THE BEST INTEREST OF THE CITY OF MIAMI BEACH, OR WAIVE ANY INFORMALITY IN ANY PROPOSAL. THE CITY OF MIAMI BEACH MAY ALSO REJECT ANY AND ALL PROPOSALS.
YOU ARE HEREBY ADVISED THAT THIS REQUEST FOR PROPOSALS IS SUBJECT TO THE FOLLOWING ORDINANCES/RESOLUTIONS, WHICH MAY BE FOUND ON THE CITY OF MIAMI BEACH WEBSITE: http://web.miamibeachfl.gov/procurement/
• CONE OF SILENCE -- ORDINANCE NO. 2002-3378 • CODE OF BUSINESS ETHICS -- RESOLUTION NO. 2000-23879. • DEBARMENT PROCEEDINGS -- ORDINANCE NO. 2000-3234. • PROTEST PROCEDURES -- ORDINANCE NO. 2002-3344. • LOBBYIST REGISTRATION AND DISCLOSURE OF FEES -- ORDINANCE NO. 2002-3363. • CAMPAIGN CONTRIBUTIONS BY VENDORS - ORDINANCE NO. 2003-3389.
• REQUIREMENT FOR CITY CONTRACTORS TO PROVIDE EQUAL BENEFITS FOR DOMESTIC PARTNERS - ORDINANCE NO. 2005-3494
Sincerely, Gus Lopez, CPPO Procurement Director
Statewide