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Home My WebLink About2015-02-09-Meeting Mintues Finance Committee Meeting Commission Chamber - 2/9/2015 ATTENDANCE: Present: Hons. Guilfoyle, Chairman; Sias, Vice Chairman; Harris and Hasan, members. Absent: Hon. Hardie Davis, Jr., Mayor. FINANCE 1. Motion to approve the selection of Raymond James to perform bond underwriting services for the Augusta Regional Airport as approved by the Augusta Aviation Commission at their January 29, 2015 meeting. (RFP 15-124) Item Action: Approved Motions Motion Type Motion Text Made By Seconded By Motion Result Approve Motion to approve. Motion Passes 4-0. Commissioner Sammie Sias Commissioner Ben Hasan Passes 2. Discuss/approve the use of surplus budget funds for the demolition of dilapidated houses. (Requested by Commissioner Fennoy) Item Action: Approved Motions Motion Type Motion Text Made By Seconded By Motion Result Approve Motion to approve tasking the Planning & Development Director to develop a demolition package with 30 houses coming from Districts 1 and 2 and bring back an estimate for the cost of the work to this committee. Commissioner Sammie Sias Dies for lack of Second Motions Motion Type Motion Text Made By Seconded By Motion Result Approve Substitute motion to approve receiving this item as information. Motion Passes 4-0. Commissioner Ben Hasan Commissioner Louis Harris Passes 3. Motion to approve the minutes of the Finance Committee held on January 26, 2015. Item Action: Approved Motions Motion Type Motion Text Made By Seconded By Motion Result Approve Motion to approve. Motion Passes 4-0. Commissioner Sammie Sias Commissioner Louis Harris Passes 4. Presentation by Mr. Peter Appleby regarding the establishment of a program to handle property tax collection on a monthly basis as opposed to a yearly payment. Item Action: Approved Motions Motion Type Motion Text Made By Seconded By Motion Result Delete Motion to approve deleting this item from the agenda. Motion Passes 4-0. Commissioner Sammie Sias Commissioner Louis Harris Passes 5. Request for refund for Joshalun Young on property owned by Mamie L.F. Young, located at 2833 Wheeler Road, Map/Parcel# 033-2-001-00-0, for tax years 2010, 2011, 2012 and 2013 in the amounts of $204.25 (2013), $197.40 (2012), $216.69 (2011) and $227.88 (2010). Item Action: Approved Motions Motion Type Motion Text Made By Seconded By Motion Result Motion to approve for the tax years 2011 Commissioner Commissioner www.augustaga.gov Approve through 2013. Motion Passes 4-0. Sammie Sias Ben Hasan Passes 6. Presentation by Mr. Vincent McClain regarding a request for quote issued by First Vehicle Services to tow county vehicles. Item Action: Rescheduled Motions Motion Type Motion Text Made By Seconded By Motion Result Approve Motion to approve receiving this item as information. Commissioner Louis Harris Commissioner Ben Hasan Other No action is taken on this motion due to the passage of the substitute motion. Motions Motion Type Motion Text Made By Seconded By Motion Result Defer Substitute motion to refer this item back to the committee for further discussion and review. Motion Passes 4-0. Commissioner Sammie Sias Commissioner Ben Hasan Passes Finance Committee Meeting 2/9/2015 1:15 PM Attendance 2/9/15 Department: Caption: Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: Request for Proposal Request for Proposals will be received at this office until Friday, January 23, 2015 @ 11:00 a.m. for furnishing: RFP Item #15-124 Airport Refunding Revenue Bonds, Series 2015 for Augusta Regional Airport RFPs will be received by: The Augusta Commission hereinafter referred to as the OWNER at the offices of: Geri A. Sams, Director Augusta Procurement Department 535 Telfair Street - Room 605 Augusta, Georgia 30901 RFP documents may be viewed on the Augusta Georgia web site under the Procurement Department ARCbid. RFP documents may be obtained at the office of the Augusta, GA Procurement Department, 535 Telfair Street – Room 605, Augusta, GA 30901. All questions must be submitted in writing by fax to 706 821-2811 or by email to procbidandcontract@augustaga.gov to the office of the Procurement Department by Friday, January 16, 2015 @ 5:00 P.M. No RFP will be accepted by fax, all must be received by mail or hand delivered. No RFP may be withdrawn for a period of 90 days after time has been called on the date of opening. Request for proposals (RFP) and specifications. An RFP shall be issued by the Procurement Office and shall include specifications prepared in accordance with Article 4 (Product Specifications), and all contractual terms and conditions, applicable to the procurement. All specific requirements contained in the request for proposal including, but not limited to, the number of copies needed, the timing of the submission, the required financial data, and any other requirements designated by the Procurement Department are considered material conditions of the bid which are not waiveable or modifiable by the Procurement Director. All requests to waive or modify any such material condition shall be submitted through the Procurement Director to the appropriate committee of the Augusta, Georgia Commission for approval by the Augusta, Georgia Commission. Please mark RFP number on the outside of the envelope. Proponents are cautioned that acquisition of RFP documents through any source other than the office of the Procurement Department is not advisable. Acquisition of RFP documents from unauthorized sources places the proponent at the risk of receiving incomplete or inaccurate information upon which to base his qualifications. GERI A. SAMS, Procurement Director Publish: Augusta Chronicle January 13, 15, 19, 20, 2015 Metro Courier January 14, 2015 Revised: 3/5/2013 UNOFFICIAL VENDORS Attachment B E-Verify # SAVE Form Original 7 Copies Raymond James 951 E Byrd St., Suite 930 Richmond, VA 23219 Yes 754848 Yes Yes Yes Blaylock Beal Van, LLC 600 Lexington Ave New York, NY 10022 Piper Jaffray 800 Nicollet Mall, J12NPF Minneapolis, MN 55042 Yes 19959 Yes Yes Yes Siebert Brandford Shank 100 Wall Street, 18th Flr. New York, NY 10005 Yes 230556 Yes Yes Yes Stifel, Nicolaus & Co. 3060 Peachtree Rd., NW Suite 1700 Atlanta, GA 30305 Yes 237409 Yes Yes Yes IFS Securities 3414 Peachtree Rd., NE Suite 1020 Atlanta, GA 30326 Yes 749629 Yes Yes Yes Non-Compliant Only submitted a letter Total Number Specifications Mailed Out: 19 Mandatory Pre-proposal/Telephone Conference Attendees: N/A Total packages submitted: 6 Total Noncompliant: 1 Proposal Opening RFP Item #15-124 Airport Refunding Revenue Bonds Series 2015 for Augusta, Georgia - Augusta Regional Airport RFP Due: Friday, January 23, 2015 @ 11:00 a.m. Fee Proposal Yes Yes Yes Yes Yes Page 1 of 1 Evaluation Criteria Points Raymond James 951 E Byrd St., Suite 930 Richmond, VA 23219 Piper Jaffray 800 Nicollet Mall, 1747 Pennsylvania Ave. NW Third Floor Washington, DC 20096 Siebert Brandford Shank 100 Wall Street, 18th Flr. New York, NY 10005 Stifel, Nicolaus & Co. 3060 Peachtree Rd., NW Suite 1700 Atlanta, GA 30305 IFS Securities 3414 Peachtree Rd., NE Suite 1020 Atlanta, GA 30326 1. Experience & capabilities of firm and personnel 25 24.5 24.5 20.25 19.75 13.75 2. Location & accessibility of assigned personnel • Within Richmond County 10 points • Within CSRA 8 points • Within Georgia 6 points • Within SE United States (includes AL, TN, NC, SC, FL, KY,LA,MS) 4 points • All Others 2 points 10 2 2 2 6 6 3. Ability of the marketing & distribution plan to deliver the lowest interest cost 25 24.5 22.5 19.5 21.25 14.25 4. Underwriting capacity and willingness 20 18.25 17.75 14.75 18 13.5 5. Adequacy and completeness of the proposal 10 10 10 9.25 9.75 8.25 6. Cost and value of services 10 2 4 8 6 10 Total Points 100 81.25 80.75 73.75 80.75 65.75 Cumulative Evaluation Sheet - RFP Item #15-124 Airport Refunding Revenue Bonds Series 2015 for Augusta, Georgia - Augusta Regional Airport ATTN: JOHN COAN/EDMUND J. WALL PIPER JAFFRAY & CO. 1747 PENNSYLVANIA AVENUE, NW 2ND FLOOR WASHINGTON, DC 20006 ATTN: MATT TIPPETT ARBITRAGE MANAGEMENT GROUP 3223 GARDNER PARK DR. GASTONIA, NC 28054 ATTN: G. POWERS ROWLAND ARBITRAGE MANAGEMENT GROUP 3223 GARDNER PARK DR GASTONIA, NC 28054 ATTN: JUSTIN T. O’SHEA EDWARDJONES 12555 MANCHESTER ROAD ST. LOUIS, MO 63131 ATTN: D. J. MEHIGAN/GABE AGAN RAYMOND JAMES 951 E. BYRD STREET, SUITE 930 RICHMOND, VA 23219 ATTN: ANGELA AVERY/RILEY SIMMONS, II IFS SECURITIES MONARCH PLAZA 3414 PEACHTREE RD, SUITE 1020 ATLANTA, GA 30326 ATTN: TOM WOODWARD STIFEL, NICOLAUS & COPANY, INC 3630 PEACHTREE RD, NE STE 400 ATLANTA, GA 30326 ATTN: BRYCE W. HOLCOMB, JR CITI PINNACLE BUILDING 3455 PEACHTREE ROAD, STE 620 ATLANTA, GA 30326 ATTN: TODD BARNES ROBERT W. BAIRD 3060 PEACHTREE ROAD, STE 1815 ATLANTA, GA 30305 ATTN: BILL JOHNSTON/LYMAN WRAY STEPHENS, INC. 3344 PEACHTREE ROAD, NE, STE 1650 ATLANTA, GA 30326 ATTN: BRUCE GOW BLAYLOCK BEAL VAN LLC 1100 PEACHTREE STREET, STE 200 ATLANTA, GA 30309 ATTN: JONATHAN KIRN/SARAH SNYDER SIEBERT BRANDFORD SHANK & CO. LLC 1025 CONNECTICUT AVENUE, STE 1202 WASHINGTON, DC 20036 ATTN: CHERYL THOMAS STRICKLAND STIFEL, NICOLAUS & CO., INC. 3399 PEACHTREE ROAD, STE 800 ATLANTA, GA 30326 ATTN: CONSTANCE WOODS MORGAN STANLEY 5565 GLENRIDGE CONNECTOR SUITE 1900 ATLANTA, GA 30342 ATTN: KATHY POSEY THE PFM GROUP 600 PEACHTREE STREET, STE 3770 ATLANTA, GA 30308 ATTN: DIANNE MCNABB THE PFM GROUP 600 PEACHTREE STREET, STE 3770 ATLANTA, GA 30308 ATTN: JIM PLUNKETT SHEPARD PLUNKETT HAMILTON & BOUDREAUX, LLP 429 WALKER STREET, UPPER LEVEL AUGUSTA, GEORGIA 30901 ATTN: PAMELA EVERETTE FREEMAN MATHIS & GARY, LLP 661 FOREST PARKWAY, STE E FOREST PARK, GA 30297 ATTN: TERESA P. FINISTER MURRAY BARNES FINISTER LLP 3525 PIEDMONT ROAD 5 PIEDMONT CENTER, SUITE 515 ATLANTA, GA 30305 Risa Bingham Augusta Regional Airport Yvonne Gentry LSBOP Gary LeTellier Augusta Regional Airport RFP 15-124 Airport Refunding Revenue Bonds Series 2015 mailed January 7, 2015 RFP 15-124 Airport Refunding Revenue Bonds Series 2015 For Augusta Regional Airport RFP Due: Fri. 1/23/15 @ 11:00 a.m. PAGE 1 OF 1 RFP 15-124 – Airport Refunding Revenue Bonds Series 2015 Finance Committee Meeting 2/9/2015 1:15 PM Augusta Regional Ariport Bond Underwriter Selection Department:Augusta Regional Airport Caption:Motion to approve the selection of Raymond James to perform bond underwriting services for the Augusta Regional Airport as approved by the Augusta Aviation Commission at their January 29, 2015 meeting. (RFP 15-124) Background:In 2005, Augusta-Richmond Country and Augusta Aviation Commission authorized the issuance of bonds not to exceed $14,500,000 aggregate principal amount of its Airport Passenger Facility Charge and General Revenue Bonds, Series A and Series B Bonds and a third not to exceed $7,000,000 aggregate principal amount of its Airport General Revenue Bonds, Series C. The Bond covenants require the bonds to be redeemed and provide that the first Optional Redemption can take place beginning January 1, 2015. Based on the preliminary financial analysis conducted by the Airport staff, we believe that it is in the best interest of the Augusta Aviation Commission the Bonds during 2015 be redeemed due to the current market conditions and the Airport’s financial position. The Airport advertised for bid to perform underwriting services for the aforementioned Bonds through the County’s Procurement Process and received five compliant responses: Raymond James, Piper Jaffray, Siebert Branford Shank, Stifel, Nicolaus & Co., and IFS Securities. Analysis:An Evaluation Committee met on Tuesday, January 27, 2015. Upon careful review and discussion, the committee unanimously selected the firm of Raymond James. Financial Impact:Expense is part of the bond issuance cost. Alternatives:Deny request. Recommendation:Approve the selection fo Raymond James as the bond underwriter for the Augusta Regional Airport. Funds are Available in the Following Accounts: No impact on airport budget. REVIEWED AND APPROVED BY: Finance. Procurement. Law. Administrator. Clerk of Commission Finance Committee Meeting 2/9/2015 1:15 PM Demolition of Delapidated Houses Department:Clerk of Commission Caption:Discuss/approve the use of surplus budget funds for the demolition of dilapidated houses. (Requested by Commissioner Fennoy) Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: Finance Committee Meeting 2/9/2015 1:15 PM Minutes Department:Clerk of Commission Caption:Motion to approve the minutes of the Finance Committee held on January 26, 2015. Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: Finance Committee Meeting 2/9/2015 1:15 PM Peter M. Appleby Department:Clerk of Commission Caption:Presentation by Mr. Peter Appleby regarding the establishment of a program to handle property tax collection on a monthly basis as opposed to a yearly payment. Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: Finance Committee Meeting 2/9/2015 1:15 PM REFUND REQUEST- YOUNG, MAMIE M/P#033-2-001-00-0 Department:Tax Assessors Office Caption:Request for refund for Joshalun Young on property owned by Mamie L.F. Young, located at 2833 Wheeler Road, Map/Parcel# 033-2-001-00-0, for tax years 2010, 2011, 2012 and 2013 in the amounts of $204.25 (2013), $197.40 (2012), $216.69 (2011) and $227.88 (2010). Background:In 2009, the property appraiser reviewed the property at 2833 Wheeler Road, Map/Parcel# 033-2-001-00-0. Central heating and air conditioning was changed to reflect space heaters in the home, effective year built from 1977-1983; the condition of the house ranged from average to fair and two 1-story fireplaces were added. The appraiser changed the house condition due to the extensive wood rot around the house and the lact of maintenance and repairs. Due to a computer error (conversion tables) in 2009, the changes were not converted and remained through the years 2010, 2011, 2012, 2013 and current tax year 2014. Tax refund is requested for prior years, for the error, for tax years 2010 through 2013. Analysis:N/A Financial Impact:N/A Alternatives:N/A Recommendation:APPROVE refund request and pay to Joshalun Young, in the amounts of $204.25 for tax year 2013; $197.40 for tax year 2012; $216.69 for tax year 2011; and $227.88 for tax year 2010. Funds are Available in the Following Accounts: N/A REVIEWED AND APPROVED BY: Finance. Law. Administrator. Clerk of Commission Finance Committee Meeting 2/9/2015 1:15 PM Vincent McClain Department:Clerk of Commission Caption:Presentation by Mr. Vincent McClain regarding a request for quote issued by First Vehicle Services to tow county vehicles. Background: Analysis: Financial Impact: Alternatives: Recommendation: Funds are Available in the Following Accounts: REVIEWED AND APPROVED BY: