Banking Service for City of New Haven

The City of New Haven, Connecticut, is issuing a solicitation for comprehensive banking services designed to support its financial operations, including cash management, investment activities, and treasury functions. The contract aims to establish a partnership with a banking institution capable of providing a broad range of services such as commercial banking, treasury management, and investment services, all in compliance with applicable local, state, and federal regulations. The procurement, identified as solicitation number 2025-RFP-176, was posted on March 5, 2025, with a response deadline of April 1, 2025. The contract size is estimated to range between $500,000 and $2,000,000, reflecting the scope and importance of the services required. The contractual framework will incorporate standard terms and conditions for professional or technical services, emphasizing compliance with federal and state laws, including equal employment opportunity, anti-kickback rules, and nondiscrimination policies. It will also address personnel requirements, dispute resolution, and reporting obligations, ensuring that the selected banking partner adheres to the City’s policies on minority business enterprise participation and labor standards. The agreement will formalize the relationship through a detailed scope of work, compensation structure, and performance timelines, with provisions for revisions, approvals, and termination. The primary point of contact for the solicitation is Shawn Garris, reachable via email and phone, and further details can be accessed through the City’s procurement portal.