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MEETING NOTICE /AGENDA
FINANCE COMMITTEE
COUNCIL CONFERENCE ROOM
43200 BUSINESS PARK DRIVE
TEMECULA, CALIFORNIA
TUESDAY, MAY 11, 2010
5:30 P.M.
ROLL CALL: Council Member Maryann Edwards
Council Member Michael S. Naggar
PUBLIC COMMENTS
A total of 15 minutes is provided so members of the public may address the Committee
on items that are not listed on the agenda. Speakers are limited to two (2) minutes
each. If you desire to speak to the Committee on an item not listed on the agenda, a
"Request to Speak" form should be filled out and filed with the staff liaison.
When you are called to speak, please come forward and state your name for the record.
For all Public Hearing /Committee Business matters on the agenda, a "Request to
Speak" form must be filed with the staff liaison prior to the Committee addressing that
item. There is a five - minute (5) time limit for individual speakers.
COMMITTEE BUSINESS
1. Establishing a Local Vendor Preference Program
2. Automatic Teller Machine (ATM) at the new Civic Center
3. City Banking Services
4. Point of Sale Designations for Sales Tax Revenue
ADJOURNMENT
S - 5
Date Michaela A. Ballreich
Deputy City Clerk
NOTICE TO THE PUBLIC
The Agenda will be available for viewing, prior to the meeting, at the Main Reception at City Hall — 43200
Business Park Drive, Temecula, 8:00 — 5:00 PM as well as on the City's website — www.cityoftemecula.org
Any staff report/written material pertaining to this meeting will be available, prior to the meeting, for public
review at the Main- Reception and at the respective meeting. Any Supplemental Material distributed to a
majority of the Committee Members regarding any item on the Agenda, after the posting of the Agenda, will
be available for public review at the Main Reception. In addition, such material will be made available for
review at the respective meeting.
If you have any questions regarding any item of business on the Agenda for this meeting, please contact
City Hall — 951 - 694 -6444.
CITY OF TEMECULA
FINANCE DEPARTMENT
MEMORANDUM
TO: Mike Naggar, Finance Committee Member
Maryann Edwards, Finance Committee Member
FROM: Genie Roberts, Director of Finance
Roberto Cardenas, Fiscal Services Manager
DATE: May 11, 2010
SUBJECT: Local Vendor Preference Program
Annually, the City of Temecula spends a considerable amount purchasing supplies, equipment,
materials, maintenance services, public projects, and professional services. A substantial
portion of.the funds used to make these purchases come from taxes and fees derived from local
businesses. Whenever feasible, funds generated from the local community should be funneled
back into the local economy, thus slowing the economic export to other municipalities and
increasing the financial productivity of every taxpayer dollar. Given the nation's current
economic condition, cities are increasingly being asked by local businesses to establish
preferences for local businesses as a means to encourage, promote, stimulate, preserve, and
grow the local economy.
Local Vendor Preference - Materials, Supplies, Equipment
Preferences typically provide Local Vendors' a percentage preference for purchases that
require competitive bidding. More specifically, if a Local Vendor submits a bid within a certain
percentage (typically :1 % to 3 %) of the lowest bid, said local Vendor is awarded the bid.
Local Vendor Preference — Public Projects
Since "Public Projects" (i.e. construction) must be awarded to the lowest responsive,
responsible bidder per the California Public Contract Code, municipalities typically do not
include Local Vendor preferences for Public Project solicitations. However, since the City of
Temecula has adopted the Uniform Public Construction Cost Accounting Act ( "The Act "), Public
Projects under $30,000 may be included in a Local Vendor Preference program.
Local Vendor Preference — Services
For solicitations that are based on evaluation criteria other than lowest price (i.e. Professional
Services), a percentage (typically 3 %) is added to the final scores, thereby giving the Local
Vendor a 3% advantage in the selection.
Pros and Cons
Opponents argue that if the Local Vendor Preference program is not properly implemented, it
will limit competition from outside competitors. In addition, opponents argue that the quality of-
services from Local Vendors accustomed to relying on said preference is diminished.
Proponents, on the other hand, argue that said concerns can be mitigated with a solid
implementation and oversight program.
1 "Local Vendor" means a vendor, contractor, or consultant who has a valid physical business address located within the boundaries of the City
of Temecula, at least six months prior to bid or proposal opening date, from which the vendor, contractor, or consultant operates or performs
business on a day -to -day basis, and holds a valid business license issued by the City of Temecula and designates, for sales tax purposes, the City
of Temecula as the point of sale for retail transactions. Post office boxes are not verifiable and shall not be used for the purpose of establishing
such physical address.
R:IFinance Committee MeetingslFinance Committee Memo - Local Vendor Preference. docx
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Local Municipalities
A survey of local municipalities reveals active Local Vendor Preferences, as follows:
Exhibit C
Public Entity Preference Criteria
City of Lake Elsinore 3% For urchases subject to sales tax
City of Murrieta 3% Excludes Public Projects
City of Wildomar 1 % For purchases subject to sales tax
County of Riverside* 5% Applied to the total rice during evaluation of the responses
Count of San Diego r - 1 - 4 -
Excludes Public Projects
Staff Recommendation
Given the economic climate and the City's desire to collaborate with local businesses, staff
recommends that the City create a Local Vendor Preference program to support responsive and
responsible Local Vendors under the following purchasing guidelines:
Purchase Item PurcHaset Limits Preference Notes
Materials, Supplies, and Equipment Purchases over $ 5,000 3% See Ex. A
Public Projects Purchases over $30,000 3% See Ex. A
Services (professional and maintenance Purchases over $30,000 3% See Ex. B
Staff recommends that the City award the bid to the local Vendor only if said entity is
willing to reduce its bid to the lowest bid amount.
RAFinance Committee MeetingslFinance Committee Memo - Local Vendor Preference. docx `
CITY OF TEMECULA
FINANCE DEPARTMENT
MEMORANDUM
TO: Mike Naggar, Finance Committee Member
Maryann Edwards, Finance Committee Member
FROM: Genie Roberts, Director of Finance
Roberto Cardenas, Fiscal Services Manager
DATE: May 11, 2010
SUBJECT: Automatic Teller Machine (ATM) at the New Civic Center
Staff has been requested to review the potential location of an Automatic Teller Machine (ATM) at
the new Civic Center.
Providing ATM services involves service agreements to administer and repair schedules to
maintain. Therefore, cities interested in providing ATMs typically do so via a Request for Proposal
(RFP) competitive solicitation process. The goal of the solicitation is to enter into an agreement
with a full - service ATM Provider rather than an outright purchase. The solicitation process
focuses on the ATM Provider's ability to adhere to the following requirements:
• Installation /Construction Permanent ATMs must be bolted to the concrete floor (or
constructed into the wall), connected to a dedicated phone line, and plugged into a
standard 110V / AC outlet.
• Management/Maintenance ATMs must be maintained, repaired, and replenished with
cash on a consistent schedule.
• Minimum Annual Guarantee (MAG) ATM providers must be financially capable to provide
the City a reasonable MAG - the minimum dollar amount (revenue) the provider must pay
the City for the right to install, operate, maintain, and manage the ATM at City Hall.
• Service Fees Charges Customer fees for use of these third -party ATM are generally
higher than the normal bank ATM.
A limitation to providing an ATM at City Hall includes the need to implement additional security
measures for user safety and ATM tampering, providing customer service to address
maintenance issues, and the potentially higher transaction fees to the customer (typically $1.75 to
$2.50) in addition to the user's bank fees (typically $2.00 to $2.50). However, an ATM at City Hall
would provide convenient access to cash for both the public at large and City employees and is a
potential source of revenue for the City.
RAFinance Committee MeetingslFinance Committee Memo - ATM.docx
CITY OF TEMECU A
FINANCE DEPARTMENT
MEMORANDUM
TO: Mike Naggar, Finance Committee Member
Maryann Edwards, Finance Committee Member
FROM: Genie Roberts, Director of Finance
Rudy J. Graciano, Revenue Manager
DATE: May 11, 2010
SUBJECT: City Banking Services
On December 11, 2007, the City approved a five -year contract extension for banking services with
Union Bank of California, with an expiration date of December 31, 2012. Union Bank offers a full
range of banking services enjoyed by the City, including trust and custodial services, transmission of
direct deposit and benefit reimbursements to employees, and Automatic Clearing House processing
of electronic fund transfers. Additionally, the City utilizes Union Bank's positive pay system for
accounts payable check disbursements which shields the City from potential fraud or defalcation on
the City's account.
Union Bank assisted Staff in expanding its services to the City enabling the City to develop
efficiencies in some of its business processes. Some of these business process improvements
include:
• Implementing electronic deposit of all checks received by the cashiers. This new feature
allows the City to deposit its check receipts with the bank more timely, resulting in their
immediate investment to maximize interest earnings. This new feature also allows the City
to electronically retain copies of its checks received, eliminating the need for paper copies
and further promoting the City's "going green" efforts.
• Assisted with implementing merchant banking for new on line services provided to our
citizens and business community. Union Bank was instrumental in allowing the City to
begin offering on -line payment of business license renewals, recreation program
enrollment, and library fines and fees. These new services provide our citizens and
business community and expanded customer convenience, as well as for a more timely
receipt of monies available for investment.
• Facilitated an automatic check clearing service, whereby Union Bank transmits accounts
payable check data electronically, which are then batch cleared against the City's accounts
payable system. This new program has enhanced the City's completion of its monthly
bank reconciliation processes.
From both a customer service and technology standpoint, Union Bank has provided good service and
they put us in direct contact with their experts. Staff has been satisfied with the quality and its
dedication to customer service. Staff has been in contact with Union Bank to request additional
information as to expanded banking services and programs that they are making available to the
residents of the City of Temecula.
RAFinance Committee MeetingslFinance Committee Memo - Banking Services.doc
Judy McNabb
From: Genie Roberts
Sent: Tuesday, May 11, 2010 2:23 PM
To: Mike Naggar; Maryann Edwards
Cc: Shawn Nelson; Rudy Graciano; Judy McNabb
Subject: FW: UNION BANK and Temecula - CRA rating- Outstanding
Attachments: header. htm
Mike,
Below is the information regarding the Union Bank participation in the community with business and home loans. It is
rather lengthy but does include the figures for lending to the business and residential community. The bank also stated
that they did not receive any Federal Stimulus monies. Please let me know if you need any additional information prior
to our meeting today.
Genie
From: Eileen Perez [ mailto :Eileen.Perez @unionbank.com]
Sent: Tuesday, May 11, 2010 1:52 PM
To: Rudy Graciano; Genie Roberts
Subject: FW: UNION BANK and Temecula - CRA rating- Outstanding
l.iell Rody .; d Genie
'lease see my ans ver below in your email string as well as this detailed response:
Thank you for the opportunity to response to the City of Temecula's request regarding Union Bank's commitment to the
communities it serves. Union Bank is the second largest full service commercial bank headquartered in California with
strong credit ratings by Moody's Investor Service, Standard & Poor's and Fitch. All deposits will be held by the Bank as
public agency deposits and fully collateralized in accordance with California Government Code. The City's treasury
relationship is managed by Eileen
Perez and you may contact her at 213.236.7589 for any concerns. The local Temecula branch is managed by Ms. Nancy
Wilson, VP at 26470 Ynez Road and she can be reached at 951 - 296 -5381. Ms. Wilson and the local branch are involved
with Temecula Noon Rotary, The Temecula Chamber, Junior Achievement, Boys and Girls Club, and the Temecula Valley
Balloon and Wine Festival.
Community Involvement and CRA Rating- OUTSTANDING - A Pledge Fulfilled: Serving the Community
We take pride in being a supportive presence in the locations in which we operate. Guided by solid strategies that make
the best use of donation dollars, the Bank's giving programs have had a significant impact on many communities in need.
Our giving program is carefully focused on eliminating the underlying causes of social problems, including lack of job
opportunities, inadequate school funding, and low rates of home ownership. The Bank seeks to enrich areas that support
an economically and culturally vibrant community: small businesses, non - profit organizations, health and human services
functions, at -risk youth activities, scholarship programs, diversity development, and the arts. Our annual charitable
donations equal two percent of net after -tax profits income, one of the largest commitments of its kind in the country.
Community Reinvestment
Our efforts in the community go beyond charitable giving. By providing opportunities to low- and moderate - income
individuals and geographies, we fully embrace both the letter and the spirit of the Community Reinvestment Act (CRA).
The Bank's commitment has been acknowledged by the Office of the Comptroller of the Currency (OCC) with an
"Outstanding" CRA rating. This is the second "Outstanding" rating the Bank has received in recent years, demonstrating
1
our sustained commitment to low- and moderate - income communities in the categories of lending, investment and
service. In granting Union Bank this rating, the OCC also recognized the Bank's leadership in community development
lending, a core competency for which the Bank has become recognized within its industry.
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In 2008, Union Bank directed 7.9% of average annual assets to CRA- related loans and activities. The chart above
shows a breakdown of the amount.
Going forward, we have set even higher benchmarks to measure and ensure our support of the CRA. In July 2005, we
increased our 10 -year community commitment from 4.5 percent of the prior year's average annual assets, to a generous
6.5 percent in support of CRA - related loans and activities. This includes loans for affordable housing, financial education,
and small business lending, with the focus placed on the most underserved. Support of "green" initiatives demonstrates a
proactive and creative approach to our community commitment.
Balanced Support
Yet not all of Union Bank's corporate and foundation giving is channelled through its administrative programs or CRA -
related lending. A spirit of social responsibility can be felt throughout the corporate culture, and volunteer work is
supported. In 2008, Bank employees performed 11,500 hours of volunteer service, and raised more than $640 thousand
for designated charities.
As specialists in financial management, we consider it our responsibility to help those who, for whatever reasons, may
lack the knowledge or skills to effectively control their personal finances. We are a founding member of Bank on
California, a consortium of banks, NGOs, and regulatory agencies working together to address problems in low and
moderate - income communities, which several Union Bank executives helped organize and which officially launched on
December 12, 2008. One of the main goals of the program is to boost financial education, to help those without a bank
open starter accounts, begin saving, build a credit history, negotiate affordable credit, avoid excessive fees, and invest for
their future.
Currently, the Bank is launching a new volunteer program for the more than 4,000 employees in our branch banking
organization that will give them up to 8 hours of paid time off to perform CRA - qualified service to nonprofits organizations.
As a prominent member of California's corporate community, Union Bank works hard to foster economic, social, and
environmental sustainability within the scope of our business reach. Wherever possible, our actions promote financial
prosperity for our customers and our company, foster socio- cultural equity and diversity, and preserve natural resources
to maintain or improve our environmental life- support system for the welfare of present and future generations.
2
CRA Rating and Other Community Involvement —
More than 140 years ago, our founders offered services that were integral to the development of their communities.
Today, Union Bank honors that history with a commitment to superior service to our customers, employees, and
shareholders, as well as the communities we serve. Community and social commitment go beyond basic corporate
citizenship at Union Bank. Our programs for corporate social responsibility have a significant impact on the communities
we serve.
• In 2009, our community development loans and activities totaled $3.568 billion, which equates to a generous 5.9
percent of average annual assets. This amount is one of the most generous programs of its kind in the country.
• A sense of community giving is ingrained in our corporate culture. Last year, Bank employees donated more than
11,500 hours of time to help improve the lives of their neighbors. A study by the Independent Sector, a coalition of
major charities and foundations, published in the Chronicle of Philanthropy determined that in 2008, volunteer time
was worth an average of $20.25 per hour. At that rate, Union Bank's volunteer time equated to almost $233,000.
• Union Bank volunteers find many opportunities to give back through our People Applauding Life Service (P.A.L.S.)
program. In addition, the P.A.L.S. "Invest in Life" employee giving campaign raised more than $640,000 in pledges
and donations, including a matching grant from the Bank for employees' chosen charities.
• We are keenly aware of our responsibilities as stewards of the environment, and have established a company -wide
target to reduce greenhouse gas emissions by 9% by 2013.
Small Business Lending
In 2009 Union Bank made 115 Small Business /Small Farm CRA reportable loans totaling $6,712,000 in Temecula
In 2008 Union Bank made 109 Small Business /Small Farm CRA reportable loans totaling $5,450,000 in Temecula
Overall for Riverside County:
In 2008 Union Bank made 1072 Small Business /Small Farm loans totaling $65,701,000 to Riverside County businesses.
In 2009 Union Bank made 1019 Small Business /Small Farm loans totaling $57,306,000 to Riverside County businesses.
Home Mortgage Lending
In 2009 Union Bank made 6 Home Mortgage loans totaling $2,682,000 in Temecula
In 2008 Union Bank made 10 Home Mortgage loans totaling $6,229,000 in Temecula
Overall for Riverside County:
In 2008 Union Bank made 149 Home Mortgage loans totaling $118,976,000 in Riverside County.
In 2009 Union Bank made 126 Home Mortgage loans totaling $74,386,000 in Riverside County.
Charitable Donations
In 2009 Union Bank donated $5,000 to Temecula non - profits
In 2008 Union Bank donated $6,500 to Temecula non - profits
Overall for Riverside County:
In 2008 Union Bank donated $ 234,750 to Riverside County non - profits.
In 2009 Union Bank donated $ 174,375 to Riverside County non - profits.
Community Development
In 2008 Union Bank made 4 Community Development loans totaling $840,000 in Riverside County.
In 2009 Union Bank made 2 Community Development loans totaling $1,212,915 in Riverside County.
Overall Goals for 2009: In accordance with the bank's renewed 10 -Year Commitment, beginning July 1, 2005 and
annually thereafter for a period of ten years, Union Bank has committed a minimum of 6.5% of assets in CRA - related loan
commitments and activities. As set forth in the ten -year commitment, annual goals are set within a Community Service
Action Plan (CSAP),'and performance is measured against the average annual asset balance from the prior year. Based
upon the bank's average balance sheet for 2008, average annual assets reported at year -end equated to $60.908
3
Billion" making the 2009 commitment $3.976 Billion. The bank's overall CRA- related loans and activities for 2009 totaled
$3.568 billion, which equates to 5.9% of 2008 average annual assets, or 89.7% of the targeted goal as depicted in Figure
A below. ( 21
Figure A Onion Hank de,3ieated $3.6 million inCRl1 rQlatef Danz and adivitie%fae
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The banking industry experienced extraordinary pressure from bank failures, record home foreclosures and increased
regulatory scrutiny in 2009. The collective result of the overall economic climate created a very challenging year for CRA -
related lending activities — stricter credit environment, less appetite for tax credit investments, etc. When analyzed on a
stand -alone basis, the bank did not meet its goals for 2009; however, given the nature of the commitment as a ten -year
community commitment, we have evaluated our performance since the start of the renewed commitment period in July,
2005.
From the inception of the renewed commitment, our targeted 6.5% of average annual assets equated to an aggregate
goal of $15.19 Billion; however, Union Bank has dedicated $15.82 Billion in CRA - related loans and activities since July,
2005 — representing 104.1 % of the combined commitment. Whereas we will always aim to exceed our targets on an
annual basis, we are firmly committed to exceed the commitment in the aggregate.
Eileen L. Perez, Vice President
Local Government Markets
Direct 213.236.7589 1 Fax 213.236.7152
Cell 310.920.98891 Alt 800.358.8956
Union Bank 1 445 South Figueroa Street, 8th Floor
MC G08 -2741 Los Angeles, CA 90071
Eileen. Perezc@unionbank.com I unionbank.com
UnionBchnk
4
From: Rudy Graciano [ma i Ito: Rudy .Graciano @cityoftemecula.org]
Sent: Tuesday, May 11, 2010 9:00 AM
To: Eileen Perez
Cc: Genie Roberts; Kathy Goldberg
Subject: RE: Question- Temecula Home Mortgages
Thank you for your response, Eileen.
Can you also respond to the additional following inquiries:
1.What business lending has Union Bank done to assist the business community of Temecula? See response above.
2. How many residential and commercial loans has Union Bank made to assist the residential and business communities
of Temecula in the past 6, 12, and 18 month? Union Bank has provided the 2008 and 2009 figures (see above CRA
response); however the 2010 are not yet available to the public.
3. Has /did Union Bank received any Federal stimulus money? If so, how much has /did Union Bank received?
Unlike many major banks that participated in the TARP program, Union Bank did not participate nor were we subject to
the Bank Stress Test Review administered by the government. Please refer to our First Quarter 2010 Financial Update
regarding deposits and assets.
I would appreciate it if you or a member of your team could respond to these additional inquires no later than 2:00 pm
this afternoon.
Thank you, again, for your help.
Rudy J. Graciano
City of Temecula
From: Eileen Perez [ mailto :Eileen.Perez @unionbank.com]
Sent: Monday, May 10, 2010 9:30 AM
To: Rudy Graciano
Cc: Genie Roberts; Kathy Goldberg
Subject: RE: Question- Temecula Home Mortgages
Rudy and Genie:
For any Union Bank foreclosures or delinquencies loans in the City of Temecula, we offer loss mitigation
programs and alternative solutions. As such, Union Bank offers solution options for any problem loan in any
geographical areas of California it serves under the rules of .Fair Lending Act. For 2009, Union Bank made
$2.7 millions in home loans for the Temecula area.
Union Bank has a foreclosure rate and delinquency rate far below the state industry average. Our foreclosure
rate is currently 1.03% and the Californian Industry Prime Loan foreclosure rate is 4.31 % and for all California
Loans the industry average is 5.36 %. Union Bank's 30 Day Delinquency rate is 2.17% and the industry rate on
California Prime Loans is 14.01 % and for all California Loans the industry average is 16.90 %. We do not have
any subprime or option ARM residential mortgage loans in our portfolio and, for its first quarter 2010, net loans
charge -off in our residential mortgage portfolio, which averaged $16.8 billion were just $10 million, or 0.24
percent annualized. Union Bank's underwriting standards, conservative product array coupled with our loss
mitigation strategies are designed to benefit the Bank and the communities we serve.
5
Please refer to our website for additional information:
https: / /www.un ion bank. com /personal /hidden /payment challenges.isp
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mu_st made available upon request:`
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If you have additional questions, please call me. Thank you.
Eileen L. Perez, Vice President
Local Government Markets
Direct 213.236.7589 l Fax 213.236.7152
Cell 310.920.98891 Alt 800.358.8956
Union Bank 1 445 South Figueroa Street, 8th Floor
6
MC G08-2741 Los Angeles CA 90071
Eileen. Perez(d)unionbank.com |unionUankzom
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From: RudyGxaciano [ma i|to: Rudy. Gradano@citvoftenmecu|a.org]
Sent: Thursday, May 06, 2010 10:46 AM
To: Eileen Perez
Cc: Genie Roberts
Subject: Question
Hi Eileen:
Can you please respond on what Union Bank is doing for the community of Temecula and its residents to address the
issues of home foreclosures, home loan modifications, and other home loan assistance?
I would appreciate it if you or a member of your team could respond to the above inquiry no later than Monday, May
10^^ a�noon
' .
Thanks for your help.
Rudy ].Graciano
City ofTemecula
This communication (iuoIodiug any attachments) may contain privileged or
confidential information intended for a specific individual and purpose,
and is protected by law. If you are not the intended recipient, you should
delete this communication and/or shred the materials and any attachments and
are hereby notified that any disclosure, copying, or distribution of this
communication, or the taking of any action based on it, is strictly prohibited.
Thank you.
Per Financial Highligh (Form 84906, Rev 03/2009) publis by Investor Relations.
[q While they will be discussed separately in accordance with the Bank's CSAP agreement, due 0n some overlap in Community Deve / Affordable
Housing lending and the Non-Profit segment, the two have been combined into one unit for the pie chart, thereby, avoiding double counting.