Banking and Investment Services

Sacramento Housing and Redevelopment Agency is requesting proposals for comprehensive banking and investment services to support the secure and efficient management of public funds across its housing programs, with proposals due September 17, 2026 at 3:00 PM via OpenGov platform.

SHRA is a joint powers agency serving the City of Sacramento, County of Sacramento, Housing Authority of the City of Sacramento, and Housing Authority of the County of Sacramento. Prospective financial institutions must be qualified public depositories with FDIC insurance, Federal Reserve System membership, federal or California state charter status, good regulatory standing, and adequate capitalization to meet the Agency's banking needs. Four accounts require executed HUD Form 51999 General Depository Agreements without modification; the depository must fully collateralize deposits as required by HUD. Section 3 compliance applies, requiring 25 percent or more of total labor hours performed by Section 3 workers (low or very low-income persons with annual income not exceeding $72,050) and 5 percent or more by Targeted Section 3 workers.

The scope encompasses depository services, cash management capabilities, interest-bearing accounts, fraud protection tools, electronic payment services, HUD-compliant investment options, and treasury management functionality across approximately 30 bank accounts including operating, payroll, program, tenant security deposit, reserve, and savings accounts. Required integrations include Yardi property management system with BAI2 file delivery via SFTP, ABR Bill Pay ACH and virtual card capabilities, lockbox services compatible with Rent Cafe and Yardi portals, positive pay fraud prevention, and dual custody controls. Services include account setup and closure, wire transfers, ACH origination and receipt, internal transfers, check imaging, electronic reporting, transaction search, remote deposit support, and lockbox services.

The contract term is five years with no renewal options, though SHRA reserves discretion to extend based on contractor performance. Evaluation is two-stage: technical proposals are scored on qualifications and stability (25 points), quality of banking services (15 points), implementation schedule (10 points), references (10 points), and fee schedule (10 points), with a minimum 70 percent score required for consideration. Proposers must submit three references from public entities served for a minimum of three years and a detailed fee schedule covering ACH fraud filters, ACH origination and receipt, basic banking transfers, branch services, electronic deposit services, general account services, wire transfers, reporting, positive pay, returned items, lockbox, and implementation support. A non-mandatory pre-proposal meeting is scheduled September 1, 2026 at 10:00 AM via Zoom. The Request for Information deadline is September 9, 2026 at 4:00 PM, with any addendum issued by September 11, 2026 at 4:00 PM. Notice of Intent to Award is anticipated September 30, 2026, with Notice of Award anticipated October 8, 2026.