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Request for Proposals for Banking Services

About Minnehaha Creek Watershed District

The Minnehaha Creek Watershed District (“MCWD”) is a local unit of government responsible for managing and protecting the water resources in one of the largest and most heavily-used urban watersheds in Minnesota.

The MCWD is responsible for 181 square miles that drain into the Minnehaha Creek and ultimately the Mississippi River. The watershed includes Minnehaha Creek, Lake Minnetonka, the Minneapolis Chain of Lakes, and Minnehaha Falls. There are eight major creeks, 129 lakes, and thousands of wetlands within the MCWD. The MCWD also includes all or part of 27 cities and two townships in Hennepin and Carver counties.

The MCWD uses scientific research and monitoring, public education, grant programs, permitting, and collaborative initiatives with local governments, agencies, and residents, to protect the region’s lakes, rivers, and streams. Protecting and managing these resources is important for recreation, fish and wildlife, the environment, and property values.

Established in 1967, the MCWD was created under the Minnesota Watershed District Act. The 1955 act charged watershed districts with integrating water management efforts among city, county, and state agencies. Districts receive funding through local property taxes.

The MCWD is governed by a seven-member Board of Managers, which is appointed by the boards of Hennepin and Carver counties.

The annual operating and capital budget total approximately $15 million. The MCWD’s cash management systems require an MCWD operating fund checking account, a repo (insurance cash sweep account) for operating reserves, a surety checking account and a surety savings account.

Summary of the RFP

The MCWD is seeking proposals from qualified financial institutions interested in providing comprehensive banking services. The MCWD intends to maintain all banking services with one institution in order to maximize its cash flow as well as to minimize its administrative costs. The primary objective of requesting proposals is for the MCWD to determine which bank can offer the highest quality of service at the most reasonable cost. This process also provides MCWD the opportunity to explore alternative procedural methods that could improve its banking, cash management and customer service capabilities including automating or providing electronic commerce opposed to paper processes.

The complete Request for Proposals provides further information on requested services and submission requirements.  Proposals shall be submitted electronically to admin@minnehahacreek.org by 4:00 p.m. on September 6, 2019. Responses must address all of the items listed in the request for proposal.  

Questions or request for clarification may be directed to Cathy Reynolds, Operations Manager, at 952-641-4503 or email address at creynolds@minnehahacreek.org.

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