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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET <br /> PROJECT TITLE: 1, <br /> Accept the Banking RFP Committee's Consent COUNCIL BILL# <br /> recommendation and authorize the X Action Originating Department <br /> Mayor to execute a contract and terms First Reading Contact Person Councilman Ron <br /> of service agreement for banking Gipson <br /> services with Bank of America Second Reading Phone Number X8703 <br /> Third Reading FOR AGENDA OF August 4, 2004 <br /> Public Hearing <br /> Initialed by: <br /> Department Head <br /> CAA <br /> Council President <br /> Location Preceding Action Attachments Department(s)Approval <br /> Banking RFP Committee Score Sheet <br /> Review RFP Ranking Criteria <br /> (Terms of Service <br /> Booklet is available in <br /> Council Office) <br /> Council approval of this agenda item authorizes a budget revision in the additional amount requested. <br /> Expenditure Required $ -0- Account Number(s): <br /> Amount Budgeted $ -0- <br /> Additional Required $ -0- <br /> I <br /> DETAILED SUMMARY STATEMENT: <br /> The City of Everett issued a Request for Proposals (RFP) for Banking Services in March of 2004. Six banks <br /> submitted responsive proposals, which the Review Committee evaluated based on the criteria established in <br /> the RFP. The RFP evaluation criteria includes cost, branch in the CBD, years of municipal banking <br /> experience, number of customer service staff assigned to the account, community reinvestment and <br /> involvement, and customer service reference responses. <br /> Bank of America received the most points according to the Committee's evaluation and is recommended for <br /> City Council's approval as the most advantageous responder. <br /> RECOMMENDATION (Exact action requested of Council): <br /> Accept the Banking RFP Committee's recommendation and authorize the Mayor to execute a contract and <br /> terms of service agreement for banking services with Bank of America. <br /> . 4 <br />