HomeMy WebLinkAboutMINUTES - 02251992 - IO.3 I0-3
TO: BOARD OF SUPERVISORS �E,s.•-
Contra
FROM: INTERNAL OPERATIONS COMMITTEE „ ! Costa n. S L
o:
County
'Qy.• J�
DATE: February 10, 1992
SUBJECT: DESIGNATION OF REDEVELOPMENT AGENCY TAX ALLOCATION BOND
FINANCIAL ADVISERS
SPECIFIC REQUESTS)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS:
As the Redevelopment Agency of the County of Contra Costa:
1 . Designate the following firms as Investment Banker Senior
Manager and Co-Manager, respectively for the Redevelopment
Agency 1992 Bond Issue:
Stone & Youngberg as Senior Manager
Artemis Capital as Co-Manager (A Woman-owned business)
2 . Designate the following firm as Bond Counsel for the
Redevelopment Agency 1992 Bond Issue:
Jones, Hall, Hill & White
BACKGROUND:
The Board of Supervisors has directed that a specific process be
followed in designating Investment Bankers and Bond Counsel for
County and Redevelopment Agency bond issuances .
As is outlined in the attached memoranda from the Deputy
Redevelopment Agency Director, that process has been followed and
various firms have been interviewed for the 1992 Bond Issue for
the County' s Redevelopment Agency. The interview panel has
presented the above recommendations to our Committee, with which
we concur. It is, therefore, recommended that the Board of
Supervisors acting as the Redevelopment Agency of the County of
Contra Costa, make the above recommended designations .
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
RECOMMENDATION_ OF C INISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE R
SIGNATURE(S): R DER AS11'.N. WRIGHT McPEAK
ACTION OF BOARD O - ebruary 25, 1992 APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE
X UNANIMOUS(ABSENT ) AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
County Administrator
CC: Community Development Director ATTESTED
Deputy Redevelopment Director
County Counsel PHIL BATCHELOR,CLERK F THE BOARD OF
Auditor-Controller SUPERVISORS AND COUNTY ADMINISTRATOR
Treasurer-Tax Collector
Deputy County Administrator-
hwz��
M382 (10/88) BY ,DEPUTY
Capital Projects
CONTRA COSTA COUNTY REDEVELOPMENT AGENCY
Date: February 7 , 1992
To: INTERNAL OPERATIONS COMMITTEE
-Supervisor Robert I. Schroder
-Supervisor Su right McPeak
From: Jim Ken
Deput Direct r-R evelopment
Subject: s ' ation of Redevelopment Tax Allocation Bond Financial Advisors
Your committee was previously provided with background on the process being
utilized to designate "Qualified Advisors" for the Redevelopment Agency' s
1992 Tax Allocation Bond Financing (January 28, 1992 memo attached) .
A committee comprised of the County Auditor, Deputy County Administrator-Capita
Projects, and Agency staff interviewed candidates for Investment Banker &
Bond Counsel . This committee recommends the following designations :
Investment Bankers .
Stone & Youngberg - Senior Manager
Artemis Capital - Co-Manager (WBE)
. Bond Counsel
Jones, Hall , Hill & white
cc : Claude Van Marter
Ken Corcoran
De Bell
Carole Norris
Beth Lee
File C3 . 3 (b) ( 1 )
CONTRA COSTA COUNTY REDEVELOPMENT AGENCY
DATE: January 28, 1992
TO: Internal Operations Committee
- Supervisor Robert Schroder
Supervisor a Wright McPeak
FROM: Jim Kenn
Deputy erector development
SUBJECT: Redevelop t Agency Financial Advisors
On January 22, 1991, the Board of Supervisors designated "Qualified Advisors" for
future redevelopment bond financings. The "Qualified Advisors" list included 20
investment banking firms, 16 bond counsel firms, and 4 financial advisors.
The Redevelopment Agency expects to conduct an issuance of bonds in 1992.
Issuance is likely to occur in the 2nd quarter of the year. Pursuant to Board of
Supervisors procedures, staff has solicited proposals from investment bankers and
bond counsel. (Staff opted not to incur additional expenses by having an independent
financial advisor. Staff believes it can obtain the necessary technical/market advise
from the investment banker and bond counsel.)
Proposals were received from 14 investment banking firms and 11 bond counsel
firms. A "short list" of 4 investment bankers and 4 bond counsel firms have been
selected for interviews. These interviews will be on February 5, 1992, therefore, staff
will provide its recommendations at your February 10, 1991 meeting. Firms on the
"short list" are:
Investment Bankers Bond Counsel
Artemis Capital Arnelle & Hastie
Goldman Sachs Jones, Hall, Hill & White
J. P. Morgan Richards, Watson & Gershon
•Stone & Youngberg Robinson & Pearman
Criteria used to evaluate firms include experience, quality of proposal, availability,
references, price, and the County's MBE/WBE goals.
JK/jb
cc: Claude Van Marter
File C3.3(b)(1 )
SRA22/iofinadv.mem