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Include your bank's understanding of the work to be performed. Additionally, state <br />why your bank believes it is the best qualified to perform the services requested. <br />Include the Management Contact (Representative authorized to sign an agreement <br />for your financial banking institution) and the Project Manager (person responsible <br />for the day -to -day management of the project). <br />October 14, 2016 <br />City of Santa Ana <br />Purchasing Division <br />Attn: Eva Goods, Buyer <br />20 Civic Center Plaza, Room 429 <br />Santa Ana, CA 92701 <br />RE: RFP# 16 -111 <br />Dear Ms. Goods: <br />On behalf of J.P. Morgan, we sincerely thank you for the opportunity to bid on the City of <br />Santa Ana's Banking Services RFP. We view this proposal as an opportunity to reconfirm <br />our understanding of Santa Ana's ( "City") objectives, as well as to reaffirm our banking <br />services commitment to the City. As your incumbent banking partner, we have solid <br />performance with the requirements outlined in the Scope of Work. <br />Kerwin Deese, Jason Johnson and Marilyn Hardney will continue to serve as your <br />dedicated relationship team, primarily based out of the firm's Southern California <br />headquarters located in Irvine. J.P. Morgan's Government Banking teams currently <br />support more than 2,350 active State, County and Municipal customer relationships in <br />more than 28 states and your local banking team will continue to draw on personal and <br />firm -wide knowledge to consultatively serve the City. <br />We have updated our pricing to ensure that we remain as competitive as possible with <br />reductions to key services provided by the bank. Increasing costs within the industry <br />have necessitated increases to two line items involving nonstandard cash processing, <br />however we believe these can be successfully mitigated so that the City may receive a <br />reduction in overall fees. Additionally, J.P. Morgan is pleased to provide the City with a <br />service fee credit of $10,000'to be applied to analysis for use over the initial (3) year <br />contract period, as well as an enhanced managed earnings credit rate of o.6o %2, which <br />is significantly higher than the bank's current Earnings Credit Rates. <br />Page H J P. Morgan <br />