City Council

7. AUTHORIZATION TO ENTER INTO A CONTRACT WITH MORGAN STANLEY INSTITUTIONAL INVESTMENT ADVISORS LLC DBA HYAS GROUP FOR FINANCIAL ADVISOR SERVICES RELATED TO THE CITY’S DEFERRED COMPENSATION PROGRAM FOR AN AMOUNT NOT-TO-EXCEED $185,000 (Finance Dept.) Recommendation: It is recommended that the City Council: (1) Find that the action proposed in the agenda report is covered by the “Common Sense” exemption set forth in the State of California Environmental Quality Act (“CEQA”) Guidelines Section 15061(b)(3) that CEQA only applies to projects that may have a significant effect on the environment; and (2) Authorize the City Manager to enter into a contract, as a result of a competitive selection process, as specified in Section 4.08.047 of the Pasadena Municipal Code, with Morgan Stanley Institutional Investment Advisors LLC DBA Hyas Group (Hyas Group) for financial advisor services related to the City’s Deferred Compensation Program in an amount not-to-exceed $185,000 for five years. Competitive bidding is not required pursuant to City Charter Section 1002(F), contracts for professional or unique services.