pages: CityCouncil/2010-06-15.pdf, 16
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CityCouncil | 2010-06-15 | 16 | that she has never worked with Mr. Reynolds or Mr. Thimmig before; both firms are highly reputable; that she worked for Westhoff and Martin Financial Services Group in 1993 and 1994; the innuendo that Mr. Holmstedt or Mr. Westhoff would get the deal because of some type of payback is professionally insulting and is not the case; Mr. Holmstedt and Mr. Westhoff would not get any compensation other than for work done; Stone and Youngberg and WCH are the two strongest firms in the market for California dirt bonds; a good structure for a very difficult transaction has been proposed; in the future, staff could start an RFP process for financial advisors; an RFP could be done for investment bankers also; an RFP process would be difficult at this time because of the stringent timeframe. Mayor Johnson stated the City wants to help property owners save money; the savings would be significant for many; that she likes the idea of an RFP process for financial advisors and creating a short list moving forward; the City could move forward with the transaction with parameters. Councilmember Gilmore stated Council needs to have discussions going forward so that everyone is clear; one member of the team got the position without having to compete; everyone is scrambling around looking for jobs and opportunities in today's economy; the appearance of how the City does things is just as important, if not more, than how the City actually does things; the City should be very clear to ensure that everyone gets an opportunity to complete; in the past, opportunities for women and minorities have been based on who the person knew, not how good the person was at what they did; the appearance of the City being accused of not following procedures or not going out for competitive bid is bothersome. The Interim City Manager stated the issue needs to apply to everything across the board and not just isolated cases regarding investment bankers or financial advisors; the issue should be revisited and a menu of different categories should be created. Mayor Johnson stated the City uses a similar process with attorneys. The City Attorney stated Mr. Thimmig is on her list. Mayor Johnson stated brining the matter back for further discussion is a good idea. The Interim City Manager stated local preference was discussed at the last Council meeting; the matter would affect the purchasing ordinance, signatory limits, and how fast things get done. Councilmember Tam stated that she is very uneasy regarding the partnership; one of the partners mentioned that the Interim City Manager worked for Mr. Holmstedt. The Interim City Manager stated that she worked for Westhoff Martin Financial Services Group which is not Westhoff Martin Banking Group. Regular Meeting Alameda City Council June 15, 2010 | CityCouncil/2010-06-15.pdf |