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City Seeks $10 Million Standby Letter of Credit from Wells Fargo

City of Miami logoCity of Miami
Disclosed value
SBLC up to $10,000,000.00; annual fee not to exceed $104,500.00
From agenda
Document date
Apr 23, 2026

The 30-second brief

What it covers

Miami intends to obtain a standby letter of credit of up to $10 million from Wells Fargo Bank, N.A. in favor of the Florida Department of Environmental Protection to satisfy deed restriction obligations. The facility will carry an annual fee capped at $104,500, subject to negotiated agreements.

Who holds it

Wells Fargo Bank NA holds this financial services contract with City of Miami. Its other public contracts on record include work for City of Rio Hondo and City of Coachella.

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Contract details

Contract type
Financial Services
Amount
SBLC up to $10,000,000.00; annual fee not to exceed $104,500.00
Document date
April 23, 2026
Vendor
Wells Fargo Bank NA
Agency
City of Miami
Source document
City of Miami Commission Meeting Agenda April 23, 2026 (Agenda)

Wells Fargo Bank NA's other public contracts

City of Rio Hondo, TexasRio Hondo Considers Wells Fargo Municipal Accounts · Oct 25, 2026UndisclosedCity of Coachella, CaliforniaWells Fargo Holds Coachella Fiscal Funds · Oct 23, 2026UndisclosedShasta Community Serv Dist, CaliforniaOffice Copier Leased Through Wells Fargo Bank · Oct 20, 2026UndisclosedDenton County Transit Authority, TexasDCTA Recommends Wells Fargo Depository Agreement · Oct 19, 2026Denton County Transit Authority, TexasDCTA Considers Wells Fargo Depository Agreement · Oct 19, 2026All Wells Fargo Bank NA contractsVendor profile

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Questions about this contract

Who was awarded the financial services contract by City of Miami?

Wells Fargo Bank NA was awarded this financial services contract by City of Miami, as recorded on April 23, 2026. The contract value is SBLC up to $10,000,000.00; annual fee not to exceed $104,500.00.

How much is the Wells Fargo Bank NA contract with City of Miami worth?

The Wells Fargo Bank NA contract with City of Miami is valued at SBLC up to $10,000,000.00; annual fee not to exceed $104,500.00, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Miami Commission Meeting Agenda April 23, 2026 (Agenda), dated April 23, 2026 from City of Miami. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Wells Fargo Bank NA hold?

Wells Fargo Bank NA may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Miami currently buying?

Explore City of Miami's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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