File #: 26-0014    Version: 1 Name:
Type: Resolution Status: Agenda Ready
File created: 12/26/2025 In control: City Commission
On agenda: 1/20/2026 Final action:
Title: APPROVAL OF RESOLUTION NO. 07-26 TO APPROVE AN AGREEMENT WITH JPMORGAN CHASE BANK, N.A. FOR BANKING MANAGEMENT SERVICES PURSUANT TO RFP 2025-003 FOR SEVEN (7) YEARS IN THE ESTIMATED AMOUNT OF $167,737.
Sponsors: Finance Department
Attachments: 1. Agenda Cover Report, 2. Res 07-26 Agreement JP Morgan Chase RFP2026-003 Banking Management Services, 3. RFP2026-003 Banking Management Services, 4. Legal Review Agreement RFP2026-003 Banking Management Services, 5. Exhibit A - Agreement RFP2026-003 Banking Management Services, 6. Solicitation 2025-003 Banking Management Services
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TO:                                  Mayor and Commissioners

FROM:                              Henry M. Dachowitz, Chief Financial Officer

THROUGH:                     Terrence R. Moore, ICMA-CM

DATE:                              January 20, 2026

 

Title

APPROVAL OF RESOLUTION NO. 07-26 TO APPROVE AN AGREEMENT WITH JPMORGAN CHASE BANK, N.A. FOR BANKING MANAGEMENT SERVICES PURSUANT TO RFP 2025-003 FOR SEVEN (7) YEARS IN THE ESTIMATED AMOUNT OF $167,737.

Body

Recommended Action:

Recommendation

Motion to approve Resolution No. 07-26 to award an Agreement with JP Morgan Chase Bank, N.A. for Banking Management Services pursuant to Request for Proposal 2025-003 in the total amount of $167,737,

($23,391 yearly) . The term of this Agreement shall remain in effect for a term of five (5) years may be renewed with 2 one-year renewal options.

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Background:

The City of Delray Beach desires to retain JP Morgan Chase Bank, N.A., to provide banking management services in accordance with the city’s Request for Proposal No. 2025-003. The consultant shall provide banking management services pursuant to the specifications accompanying the City’s Request for Proposal, which are incorporated herein by reference. The Contractor shall provide banking management services pursuant to the specifications accompanying the City’s Request for Proposal, the Proposal, and the Account Documentation which are incorporated herein by reference

 

   

RFP 2025-003 Banking Management Services

Initial Term

January20,2026-January19, 2031

$116,955

1st Renewal Option

January20,2031-January19, 2032

$23,391

2nd Renewal Options

January20,2032-Janaury19, 2033

$23,391

Total

$167,737

 

Attachments: 

1.                     Resolution No. 07-26

2.                     RFP Agreement 2025-003

3.                     Legal Review Checklist

4.                     Exhibit A - RFP 2025-003 Banking Management Services

5.                     Solicitation RFP 2025-003 - Banking Management Services

 

 

City Attorney Review:

Approved as to form and legal sufficiency

 

 

Funding Source:

 Cost is $23,391 yearly for a total of $167,737 over the 5 year term of the agreement to come from funds budgeting in account # 001-90-900-519.31-90

 

Timing of Request:

Timely approval is requested.