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Legislation #: 180530 Introduction Date: 7/19/2018
Type: Resolution Effective Date: none
Sponsor: None
Title: Directing the City Manager to consider certain criteria in future requests for proposals for, and in relationships with, banking institutions to ensure that the City selects and engages responsible banking institutions that support our community needs.

Legislation History
DateMinutesDescription
7/19/2018 Filed by the Clerk's office
7/19/2018 Referred to Finance and Governance Committee
7/25/2018 Immediate Adoption
7/26/2018 Adopted

View Attachments
FileTypeSizeDescription
180530.pdf Authenticated 46K Authentication
180530 Ordinance.pdf Other 46K Ordinance
180530 No Fact Sheet.pdf Other 3K No Fact Sheet

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RESOLUTION NO. 180530

 

Directing the City Manager to consider certain criteria in future requests for proposals for, and in relationships with, banking institutions to ensure that the City selects and engages responsible banking institutions that support our community needs.

 

WHEREAS, the financial security and stability of the City of Kansas City’s deposits and investments is a fundamental priority of the City Council; and

 

WHEREAS, the City Council desires to ensure that public funds are invested in responsible banking institutions that support our community; and

 

WHEREAS, in 2012, the City Council passed Resolution No. 120113 directing the City Manager to consider certain criteria in future requests for proposals for banking institutions to ensure that the City selects banks that are responsive to our community needs and do not engage in predatory lending; and

 

WHEREAS, periodic review and refinement of the criteria is critical to ensure that the City’s procurement processes consider evolving issues that shape socially responsible banking practices; and

 

WHEREAS, restatement, refinement, and enhancement of that criteria is now appropriate, NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

That the City Manager is directed to consider the following criteria in future requests for proposals for, and in relationships with, banking institutions:

 

a.            Community investment, including financial literacy education; and

b.            Annual Low to Moderate-Income (LMI) tax credit investments; and

c.            Willingness to provide affordable home loans; and

d.           Absence of predatory lending and investments; and

e.            Number and locations of branches and services provided at each branch; and

f.             Diversity in vendor engagement; and

g.            Willingness to disclose metrics evidencing lending activities in LMI census tracts areas.

 

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