Title
Awarding Request for Proposal for Arbitrage Rebate Services.
Body
Summary: The City issued an RFP for arbitrage rebate services with the new agreement to begin at the conclusion of the five-year term on the current agreement with Arbitrage Compliance Specialists (ACS). The current term expires on September 30, 2023.
Responses to the latest RFP for arbitrage rebate services were due on September 18, 2023. A notice to proposers was published in the Pasadena Citizen on August 30th, September 6th and continuously on the City's website. Three (3) firms responded as follows: Arbitrage Compliance Specialists, Hilltop Securities, and Eide Bailly. The following evaluation criteria was applied to analyze and score the responses with the greatest emphasis on qualifications, experience, and technical ability:
30 points Technical ability
30 points Qualifications and experience
15 points Thoroughness of response
15 points References
10 points Pricing
100 points Total
The goal of the RFP process was to select a qualified firm to perform the City's arbitrage rebate services for fiscal years 2024 through 2026, with an option to extend the agreement in each of the two successive years through fiscal year 2028. The selected firm must be able to, accurately and on a timely basis, complete all necessary arbitrage rebate computations and reporting. Because these are specialized services that are not typically handled in-house, this involves effective communication with the City in order to establish a timeline for reporting deadlines and to then obtain the required data for the computations. The firm should be available to respond to questions related to arbitrage rebate at any time including questions that may arise during the bond issuance process.
The responses were reviewed and scored by the Director of Finance, Accounting Supervisor and Assistant City Manager. All firms that responded have experience providing arbitrage rebate services. Based on th...
Click here for full text