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OaklandRedevelopmentSuccessorAgencyAndCityCouncil,2013-12-10,"* Special Concurrent Meeting of the
Meeting Minutes
December 10, 2013
Oakland Redevelopment
Successor Agency/City Council
S-21
Subject:
Contracts For Banking And Custodial Services
From:
Office Of The City Administrator
Recommendation: The Following Pieces Of Legislation:
1) A Resolution Authorizing The City Administrator To: (1) Negotiate And Execute An
Agreement With J.P. Morgan Chase, N.A. Or Wells Fargo Bank, N.A. To Provide Primary
Depository Services For The City At An Estimated Annual Cost Amount Of $275,000 For A
Three-Year Period With Two One-Year Options To Renew, And (2) Negotiate With J.P.
Morgan Chase, N.A. Or Wells Fargo Bank, N.A. For Such Additional Banking Services As She
May From Time To Time Deem Appropriate, At Costs She Deems Reasonable; And Waiving
The Requirements Of The Living Wage Ordinance [TITLE CHANGE]; And
13-0202
A motion was made by Councilmember Schaaf, seconded by President Pro
Tempore Kaplan, that this matter be Adopted as Amended. The motion
carried by the following vote:
Votes: ORAICouncilmember Abstained: 1 - Councilmember Kalb
ORA)Councilmember Absent: 1 - Vice Mayor Reid
ORAICouncilmember Noes: 1 - Councilmember Brooks
ORAICouncilmember Ayes: 5 - Councilmember Gallo, Councilmember Gibson
McElhaney, President Pro Tempore Kaplan, Councilmember Schaaf and
Council President Kernighan
Council approved the service agreement with J.P. Morgan Chase, directed staff
to bring the agreement back to Council after three years for review, and include
the following:
Add 5th Whereas paragraph: ""WHEREAS, banking institutions completed the
supplemental questionnaire on their lending, services and investments as part
of the RFP process; and""
Add 6th Whereas paragraph: ""WHEREAS, banking information disaggregate to
the neighborhood level is needed by the City in order to plan for economic
development and promote positive health, economic, and other outcomes for its
residents; and""
Add 4th Further Resolved paragraph, ""FURTHER RESOLVED, that contract
with the financial institution shall require that the financial institution continue
to provide information on their lending, services and investment activities,
specific to Oakland, especially in low and moderate income communities
including business loans, home loans, media outreach and branch locations for
historically undeserved communities; and be it""
Add 5th Further Resolved paragraph, ""FURTHER RESOLVED, that the
contract with the financial institution shall require the financial institution to
deliver by the end of the second year of agreement information on the census
City of Oakland
Page 30
Printed on 1/9/14",30,OaklandRedevelopmentSuccessorAgencyAndCityCouncil/2013-12-10.pdf