Title
The Board of Water Commissioners for the City of Detroit, Water and Sewerage Department authorizes the Director to approve DWSD Contract 6007647 with PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc., a piggyback off the Great Lakes Water Authority Requisition No. REQ-0002876, for financial asset management services, for an initial contract amount not-to-exceed $150,000.00 for a term of 3 years, with two 1-year renewal options at $50,000.00, for a total contract not-to-exceed amount of $250,000.00. This also authorizes the Director to take such other action as may be necessary to accomplish the intent of this vote.
Body
Agenda of January 21, 2026
Item No. 2026-2
Contract No.: 6007647
Contractor: PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc.
Address: 213 Market St., Harrisburg, PA, 17101
Initial Contract Amount: $150,000.00
Two Year Renewal Total Contract Amount: $250,000.00
Tentative Contract Term: 2/1/2026 - 11/2/2028, with two 1-year renewal options
TO: The Honorable
Board of Water Commissioners
City of Detroit, Michigan
FROM: Gary Brown, Director
Detroit Water and Sewerage Department
RE: Proposed DWSD Contract No. 6007647
Financial Asset Investment Services
PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc.
MOTION
Upon recommendation of Marqaicha Welch Procurement Manager, the Board of Water Commissioners for the City of Detroit, Water and Sewerage Department, authorizes the Director to approve DWSD Contract 6007647 with PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc., a piggyback off the Great Lakes Water Authority Requisition No. REQ-0002876, for financial asset management services, for an initial contract amount not-to-exceed $150,000.00 for a term of 3 years, with two 1-year renewal options at $50,000.00, for a total contract not-to-exceed amount of $250,000.00. This also authorizes the Director to take such other action as ma...
Click here for full text