Active SLED Opportunity · FLORIDA · CITY OF CAPE CORAL, FL
AI Summary
The City of Cape Coral, FL, requests proposals for Investment Management Services to manage its public funds portfolio, revise investment policies, and ensure compliance with regulatory standards. The opportunity includes detailed evaluation criteria and submission requirements.
The City of Cape Coral was incorporated in 1970 and operates under the Council/City Manager form of government. The City Council has eight members consisting of the mayor and seven members all elected at large on a nonpartisan basis. City Council is responsible for all policy-making functions of the government and retains the services of a City Attorney, City Auditor and City Manager. The City Manager is responsible for all administration of the City, which provides a comprehensive range of municipal services including general government, public safety, community services, public works, planning, utilities, and parks and recreation.
Cape Coral is the 8th largest city by population and the 3rd largest by land mass in Florida. Cape Coral currently has a population of more than 200,000 residents and is experiencing high growth. As a pre-platted community, Cape Coral could have more than 360,000 residents at buildout. The city has a sub-tropical lifestyle with thousands of waterfront residential properties on almost 400 miles of canals. About two-thirds of these canals provide boaters with direct access to the Gulf of Mexico.
The City of Cape Coral, Florida (the "City") is requesting proposals from qualified firms interested in providing Investment Management Services for the City’s investment portfolio, as well as providing recommendations to the City to revise its current investment policy to maximize yield while ensuring liquidity and preservation of principal.
List the Request for Proposal subject, the name of the firm, address, telephone number, email address, contact person, and date of submittal, and who has corporate authority to sign for the Firm.
Stating the proposer’s understanding of the work to be done, the commitment to perform the work, a statement why the firm believes itself to be the best qualified to perform the work, a statement that the proposal is a firm and irrevocable offer for the engagement period. Include the signature of an authorized official of the firm who has been designated as the primary contact.
Confirm your firm adheres to the code of Professional and Ethical Standards as described by AIMR.
Confirm that your firm is completely independent of any financial institution or securities brokerage firm; or fully and continuously disclose any relationships with such financial institution(s) and/or securities brokerage firm(s), and further disclose any commissions, bonuses, or soft-dollar payments resulting from the firm’s relationship with the City.
Include a clear identification of the material included in the submittal by page number.
Background:
A. Describe the organization, date company was founded and ownership of your firm. Identify and explain if the firm experienced a significant change in organizational structure, ownership or management during the past three (3) years.
B. Describe any potential conflicts of interest your firm may have in the management of this account. Include any activities of affiliated or parent organization, brokerage activities, financial advisory, or investment banking activities provided to the City. Include any other pertinent activities, actions, or relationships not specifically outlined in this question, such as soft dollar arrangements with brokers.
C. Identify the types of accounts primarily managed by your firm.
D. Describe any regulatory censure or litigation (including closed cases) involving your firm or the individual that will be providing investment services to the City during the past five (5) years
E. Identify locations of the firm’s office(s) in the State of Florida, including staffing levels, and which office will service the City.
F. Provide your most recent Form ADV, include Part 1 and Part II. If you are exempt from registering with the Securities and Exchange Commission (SEC) under the Investment Advisor’s Act of 1940, please document your reasons.
G. Include your firms SSAE 16, SOC 1, Type II Report. If your firm does not have this report, confirm that you will be able to comply within twelve months of the beginning of the contract term.
H. Describe any SEC, NASD or any other regulatory censure or litigation during the past five (5) years involving your firm and/or the individuals that will be providing investment services to the City. Please provide information beginning with closed cases and their resolution, followed by pending cases and expected outcome.
I. Summarize fidelity bond coverage, errors and omissions, employee dishonesty, fiduciary liability insurance, or other fiduciary coverage your firm carries. Provide a Certificate of Insurance (refer to the Insurance Requirements section of this RFP).
J. Provide a copy of your firm’s two (2) most recent audited financial statements.
K. Clarify whether your firm acts as a broker or as a primary dealer in securities or receives any other form of additional compensation (including soft-dollars) for client transactions aside from the direct fee paid by clients.
L. In the past 10 years, has the manager or any of its related affiliates ever purchased a security on behalf of a client that eventually defaulted while still held in client’s portfolio? If so, please explain.
Experience:
A. Describe your firm’s experience in managing investment portfolios for public funds and governmental entities.
B. Provide a list of three (3) Florida client references for which your firm manages public funds. Include client name, contact information, value of assets managed, and personnel, address, phone number, fax number, length of time you have managed their assets and a list of any other related services provided (e.g. cash flow analysis, etc).
C. Summarize your assets under management (public funds only) over the past five (5) years by the following categories: short-term operating funds (less than one (1) year), medium-term operating funds (one (1) – three (3) years), long-term operating funds (one (1) – five (5) years), long-term operating funds (three (3) – five (5) years), and bond proceeds funds.
D. Describe your firm’s experience in developing investment policies and portfolio management guidelines for government funds.
Personnel:
A. Provide a summary organizational chart showing your proposed project team including analytical investment and research staff, other decision support and back office support. Identify the primary contact and describe the roles of each key person.
B. Provide detailed resumes for all key investment professionals who will be directly responsible for the investment of the City’s funds. Include the following information: title, number of years at your firm, total number of years of experience, professional designations or licenses.
C. Describe your firm’s efforts to keep portfolio managers informed of developments relevant to the management of local government funds. Describe training requirements and frequency.
D. Has there been any turnover of professional staff in the firm, or in the offices that would service the City, in the last three (3) years assigned to public sector clients?
A. Describe the investment accounting and reporting system used by your firm and confirm that it complies with AIMR and the Global Investment Performance Standards.
B. Describe your firm’s knowledge of and ability to assist in compliance with GASB 31, GASB 40, and GASB 72.
C. Describe the frequency and format of reports that you would provide to City (including the methods and formulas used to calculate yield and performance). Sample reports should be included.
D. Describe your firm’s online reporting capabilities and website access information.
E. Provide example of monthly report.
A. Briefly describe your firm’s Investment Management Services philosophy.
B. Describe the primary strategies employed by your firm for adding value to portfolios (e.g. market timing, credit research, etc.).
C. Describe your firm’s process for ensuring investment policy compliance, preventing, and correcting investment policy exceptions and reporting of such compliance issues to the City.
D. In the past has your firm purchased and held any security that was subsequently downgraded below the minimum credit rating required for purchase under the portfolio’s investment policy statement? Please describe in detail your course of action for this situation.
E. Describe the daily procedures for portfolio review and client contact. All City initiated contact should be responded to within 24 hours.
F. Describe how investment ideas are originated and researched, and how the ultimate investment decision is made. Explain how investment decisions are then implemented, monitored and evaluated.
G. How many accounts has the firm gained in the last twelve (12) months?
H. Provide a list of clients that terminated your services in the past two (2) years and the reason for the termination.
I. Provide your firm’s intermediate-term investment (1-3 year) performance for the most recent five (5) years. Please show quarterly returns, gross of all management fees. Please also show quarterly and calendar year reports. All performance numbers must be presented in accordance with the Association for Investment Management Services Research “AIMR” (CFA Institute) standards and the Global Investment Performance Standards.
J. Describe training opportunities for City staff.
Enter your FEIN.
You have read, understand and agree to the General Terms & Conditions listed in the solicitation documents.
You have read, understand and agree to the specifications and requirements listed in the solicitation documents.
Please submit a copy of your registration and the corresponding document number from the website www.sunbiz.org establishing your firm as authorized (including authorized representatives) to conduct business in the State of Florida, as provided by the Florida Department of State, Division of Corporations.
The undersigned respondent affirms that the submittal is genuine and not collusive or sham; that the respondent has not colluded, conspired, connived or agreed, directly or indirectly, with any respondent or person, to put in a sham submittal or to refrain from submitting, and has not in any manner, directly or indirectly, sought by agreement or collusion, or communication or conference, with any person, to fix the submitted price of affiant or of any other respondent, or to fix overhead, profit or cost element of said submitted price, or that of any other respondent, or to secure any advantage against the City of Cape Coral of any person interested in the proposed contract; and that all statements in said proposal or bid are true.
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A person or affiliate who has been placed on the convicted vendor list following a conviction for a public entity crime may not submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; may not submit a bid, proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; may not submit bids, proposals, or replies on leases of real property to a public entity; may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity; and may not transact business with any public entity in excess of the threshold amount provided in s. 287.017 for CATEGORY TWO for a period of 36 months following the date of being placed on the convicted vendor list.
An entity or affiliate who has been placed on the discriminatory vendor list may not submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; may not submit a bid, proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; may not submit bids, proposals, or replies on leases of real property to a public entity; may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity; and may not transact business with any public entity.
Sections 112.313(3) and 112.313(7), FL §, prohibit certain business relationships on the part of public officers and employees, their spouses, and their children. See Part III, Chapter 112, FL §, and/or the brochure entitled "A Guide to the Sunshine Amendment and Code of Ethics for Public Officers, Candidates and Employees" for more details on these prohibitions. However, Section 112.313(12), FL § (1983), provides certain limited exemptions to the above-referenced prohibitions, including one where the business is awarded under a system of sealed, competitive bidding; the public official has exerted no influence on bid negotiations or specifications; and where disclosure is made, prior to or at the time of the submission of the bid, of the official's or his spouse's or child's interest and the nature of the intended business. The Commission on Ethics has promulgated this form for such disclosure, if and when applicable to a public officer or employee.
If this disclosure is applicable request form “INTEREST IN COMPETITIVE BID FOR PUBLIC BUSINESS” (Required by 112.313(12)(b), FL § (1983)) to be completed and returned with solicitation response. It is the respondent's responsibility to disclose this relationship, failure to do so could result in being declared non- responsive.
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The corporate resolution form is utilized to provide names of individuals that are legally authorized to execute agreements on behalf of the corporation, company, partnership, joint venture or entity. This may include signing of bid documents, contracts, forms, and agreements. The corporate resolution form includes the name of individuals, with their signatures and their official title with the entity submitting a bid or proposal.
Respondents must provide either the corporate resolution form or the company’s official letterhead, indicating the authority of the individuals who may sign and legally bind the company in proposals, bids, contracts, and agreements. The authorized individuals name(s) should be shown on the corporate resolution or letterhead with their typewritten name, their official title and actual signatures shown beside their name. The document should be signed and dated by an authorized agent of the company. The document should include the company’s official address and phone number. If the primary qualifying agent is not the owner, an officer, a member, a joint venture managing partner, etc., describe the relationship to the company and provide proof of such relationship and/or license use agreement.
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Florida Statutes Section 112.0455 is the “Drug-Free Workplace Act”. The purpose of the Act is:
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Please download the below documents, complete, and upload. Ensure to include the number of references as stated in the Solicitation Specification section.
See attached Minimum Insurance Requirements form for information relative to insurance requirements, found in this solicitation.
Without limiting its liability under this solicitation, the awarded respondent(s) shall procure and continuously maintain, without interruption, at its own expense, insurance specified on the enclosed form.
Neither approval nor failure to disapprove the insurance furnished by awarded respondent to the City shall relieve the awarded respondent of the awarded respondent's full responsibility to provide insurance, as required by this contract. The awarded respondent shall be responsible for assuring that the insurance remains in force for the duration of the contractual period; included any and all option years that may be granted to that awarded respondent. The certificate of insurance shall contain the provision that the City be given no less than thirty (30) days written notice of cancellation. If the insurance is scheduled to expire during the contractual period, the awarded respondent shall be responsible for submitting new or renewed certificates of insurance to the City at a minimum of fifteen (15) calendar days in advance of such expiration.
By submitting a response to the solicitation, respondent is agreeing to meet the insurance requirements of the project, which are subject to change.
Does your company employ any City of Cape Coral employees? Please indicate "Yes" or "No". If "Yes", note the employees name, department and division.
The City's performance and obligation to pay under this contract is contingent upon an annual appropriation by the City Council. This Contract is not a commitment of future appropriations. Authorization for continuation and completion of work and any associated payments may be rescinded, with proper notice, at the discretion of the City if the City Council reduces or eliminates appropriations.
Please download the below documents, complete and have notarized. An online notarization option will be provided for you when responding.
Please download the below documents, complete and have notarized. An online notarization option will be provided for you when responding.
Upload the Bid Bond of 5% of the base bid.
The City will accept electronic copies of the Bid Bond, or Bid Security, with the raised seal shaded with pencil to show the seal is present. The original bid security, or Bid Bond, will be requested from the awarded respondent prior to contract execution.
Any contract award will be dependent on the original being provided when requested.
For use on projects $200,000 or greater.
Upload a Surety Letter proving proof of bonding capacity.
In accordance with Article VII Division 1 Sections 2-144(a(10) of the City of Cape Coral Ordinance prior to award, a vendor who desires to be considered for local preference for a response must submit sufficient information with its bid/proposal to allow consideration, including a copy of a paid business tax receipt showing a full 12 months in advance of the response submittal date.
If any grants are applicable to this procurement, local vendor preference will not be applicable. Grants may be obtained prior to, during, and after solicitation release.
Per City Ordinance, local vendor preference will not be applied to Utility Extension Projects (UEP) or to projects that exceed $10M.
Are you claiming Local Vendor Preference? If YES, please complete and attach the Local Vendor Preference Establishment form
This solicitation is EXEMPT from Local Vendor Preference.
Per City Ordinance, local vendor preference will not be applied to the Utilities Extension Projects (UEP) or to projects that exceed $10M.
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Confirm you have reviewed and accept the FHWA-1273 requirements.
Confirm you have reviewed and accept the 2 C.F.R Part 200 and Appendix II to Part 200 requirements.
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The firm hereby certifies under the penalties of perjury that the wage rate and other costs used to support its compensation are accurate, complete and current at the time of contracting. The firm agrees that the original contract price and any additions to the contract may be adjusted within one year of completion of the contract to exclude any significant amounts if the City determines that the fee was increased by such amounts due to inaccurate, incomplete or non current wage rates or other costs.
The awarded vendor will be required to sign a Truth-in-Negotiations form after the issuance of the Notice of Intent.
In accordance with Article VII Division 1 Sections 2-144(h(4)c of the City of Cape Coral Ordinance prior to award, a vendor who desires to be considered for local professional designation for a response must submit sufficient information with its response to allow consideration, including a copy of a paid business tax receipt showing a full 12 months in advance of the bid submittal date.
If any grants are applicable to this procurement, local vendor preference will not be applicable. Grants may be obtained prior to, during, and after solicitation release.
Are you claiming Local Professional Designation? If YES, please complete and attach the Local Vendor Preference Establishment form
A certified minority business enterprise is defined by Florida Small and Minority Business Assistance Act of 1985. If applicable, the primary proposing firm should submit the Certified Minority Business (MBE -Minority Business Enterprise/WBE -Women Business Enterprise/SBE -Small Business Enterprise) certification documentation.
During the vendor registration process, you will select all applicable classifications and provide supporting documents. For this solicitation, we will only consider those classifications of the prime firm submitting the proposal. Per City Ordinance, all classifications must be certified from the State of Florida Department of Management Services.
Are you claiming this preference? If so, please attach the applicable State of Florida certification document.
Respondent to submit completed Standard Form SF330.
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The City's Qualified Product list (QPL) can be found at:
This solicitation contains documents (including Exhibits and Attachments) that are not considered public records due to the infrastructure information they contain. The Homeland Security Act protects these records, drawings, maps and specifications from public record and distribution to protect the infrastructure information from becoming public knowledge. By being a Pre-Qualified Public Utilities Instrumentation & Control Services Vendor, you acknowledge and agree to protecting the information contained in this solicitation is confidential and not to be shared or distributed.
This solicitation contains documents (including Exhibits and Attachments) that are not considered public records due to the infrastructure information they contain. The Homeland Security Act protects these records, drawings, maps and specifications from public record and distribution to protect the infrastructure information from becoming public knowledge. In order to view those documents, a confidentiality agreement will need to be signed and a time set up to view those documents at City Hall. Contact the Procurement Professional named on the "Events Detail" Tab to request the confidentiality agreement and to schedule a time to view those documents.
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In order to comply with the requirements of the Jessica Lunsford Act., Level 2 Screening is required of all subcontracted employees who meet one or more of the following requirements.
All costs associated with Level 2 screening shall be borne by the Contractor or subcontractor.
Level 2 screening includes fingerprinting, statewide criminal and juvenile justice records checks through the Florida Department of Law Enforcement (FDLE) and Federal Criminal records checks through the Federal Bureau of Investigation (FBI). Any certificate issued by a Law Enforcement Agency must clearly indicate that the employee has successfully passed a Level 2 Screening background investigation. All costs associated with level 2 screening shall be borne by the Respondent or subcontractor.
Upon completion of Level 2 Screening, any results indicating an employee has been found guilty of, regardless of adjudication or have entered a plea of nolo contendere or guilty to, any crime in Florida Statue 435.04(2), or any other comparable statute of another state, or of the federal government, including, but not limited to, crimes involving moral turpitude, multiple felonies, or crimes against children, shall not be permitted to perform work for the Charter School Authority (AUTHORITY), on the Charter School Campus.
The results of such shall be provided to the City of Cape Coral and the Charter School Administrator or his designee for approval prior to the employee being assigned to the Charter School campus. Furthermore, the Charter School Administrator or his designee has the right, at his sole discretion, to reject any employee deemed incompetent, careless, insubordinate, or in any way objectionable, or any personnel whose actions may be contrary to the public interest or inconsistent with the best interests of the Charter School Authority. In such a case it shall be
the responsibility of the contractor, at no additional cost to the Charter School Authority or the City of Cape Coral, to provide a suitable replacement and documentation of Level 2 Screening for that individual.
Failure to complete Level 2 Screening shall be considered a material breach of Contractor’s duties and responsibilities entitling the Charter School Authority to terminate any business relationship with the Respondent immediately. In addition, all Respondents will be required to indemnify and hold harmless the Charter School Authority, its officers, agents, and employees from any liability in the form of physical injury, death, or property damage resulting from your failure to comply with the requirements of the Jessica Lunsford Act. Contractor employees are required to wear, at all times on any AUTHORITY site, State issued identification badges per AUTHORITY policies and the Jessica Lunsford Act. Employees will not be allowed on any AUTHORITY site without proper badges. Failure to meet this requirement will result in the immediate removal of any employee without a badge from any site. Continued non-compliance with this clause may result in the termination of contract(s). Please note that Contractor(s) must submit all Certificate of Insurance and Licenses before badges can be issued.
Contractor may be required to submit a list of badged employees to AUTHORITY within thirty (30) days after commencement of contract. Any changes during the course of the contract must be updated and submitted immediately.
Contractor employees using badges from another, terminated or retired employee is strictly PROHIBITTED and will be cause for immediate termination of contract.
Contractor must immediately return any and all badges of terminated or retired employees to AUTHORITY. Failure to do so may be cause for termination of contract.
Fingerprinting and badging procedures are subject to change without notification. It will be the Contractor’s responsibility to ensure they meet all State and AUTHORITY requirements.
The City requires all vendors entering into an agreement for this solicitation to undergo a Level 2 Background Screening.
All costs associated with Level 2 screening shall be borne by the Contractor or subcontractor.
Upon completion of Level 2 Screening, any results indicating a vendor has been found guilty of, regardless of adjudication or have entered a plea of nolo contendere or guilty to, any crime in Florida Statue 435.04(2), or any other comparable statute of another state, or of the federal government, including, but not limited to, crimes involving moral turpitude, multiple felonies, or crimes against children, shall not be permitted to perform work for the City of Cape Coral.
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Please download the below documents, complete, and upload.
Upload your current license(s) based on the requirements of the solicitation.
Using the Evaluation Criteria, upload your firms proposal to be reviewed and evaluated.
Include all sections to be completed and returned (00100 through 0481). License(s) are to be included as an attachment with section 00301.
Using the Evaluation Criteria, upload your firms proposal to be reviewed and evaluated.
Upload should contain proposal and pricing, costs or fees.
Proposal only. Upload should not contain pricing, costs or fees. Price Proposal will be uploaded as separate document.
Price Proposal (costs/fees) only. Understanding, Qualifications and Approach will be uploaded as separate document.
Upload should include pricing, fees and any additional requirements as it relates to the quote and based off the requirements stated in this request for quotation.
Upload any additional documents you feel are relevant to this solicitation
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Select the Solicitation type.
Public Construction Bond or Performance & Payment Bonds are required for construction project $200,000 and greater.
Construction - document to use for construction projects. Similar to the Div. 01 version. includes bonding, Contractor Info., Resumes, Affiliates, Organization, Licensing, Financials, Certifications, Experience and Performance.
Design & Consulting - document to use for design & consulting projects. Does not include bonding or financial information.
Standard - standard document to use for Non-Construction or Design & Consulting. Obtains vendors information, bonding, financial references (no financial or legal statements) and experience.
Yes, if Line Items are used for obtaining pricing (e.g. quantity, unit of measure, unit cost).
If solicitation requires the respondent to upload a pricing proposal with their response.
Note: if the Solicitation is ONLY using Line-Items and does not require Respondent to upload separate pricing proposal, answer NO.
Select how you would like to receive the proposal.
Procurement has a standard Reference Survey Form included with the templates. Selection should be based off the following.
Yes - If the supplier needs to complete the standard form and return. Form will automatically populate.
No - if utilizing a separate Reference Form or no Reference Form is needed.
Does the solicitation contain information (drawings or specifications) protected by the Department of Homeland Security? If yes, select one of the following:
Acknowledgement - supplier confirms information is or may be protected and is to keep it confidential.
Agreement - respondent must come to City Hall and sign a Confidentiality Agreement prior to viewing drawings or specifications.
SLED stands for State, Local, and Education. These are solicitations issued by state governments, counties, cities, school districts, utilities, and higher education institutions — as opposed to federal agencies.
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