closed🌐 newarknj2024-RFP-Finance

Financial Advisory Services

newarknj / Finance

Description

The City of Newark, NJ will receive RFP responses via the City's e-Procurement Portal for 'Project ID , 'Project Title . RFP responses will be received until 'Proposal Submission Time on 'Proposal Submission Date and then publicly opened. Any proposal received after 'Proposal Submission Time shall not be accepted in the OpenGov system. Only electronic proposals shall be accepted. NOTE: It is important to note that this process should be completed well in advance of the bid deadline / bid opening. DO NOT WAIT UNTIL THE LAST MINUTE. The City's electronic procurement portal will not allow electronic bids to be submitted once the deadline has passed, even if you've already started the process. The deadline is based on the countdown timer found on the OpenGov bid submission page. The Department of Finance of the City of Newark is soliciting Proposals from interested persons and/or firms for the provision of FINANCIAL ADVISORY SERVICES. Through a Request for Proposal process described herein, person(s) and/or firm(s) interested in assisting the Department of Finance with the provision of such services must prepare and submit a Proposal in accordance with the procedure and schedule in this RFP. The Department of Finance will review Proposals only from those firm(s) that submit a Proposal, which includes all the information required to be included as described herein (in the sole judgment of the Department of Finance). The Department of Finance frequently calls upon Financial Advisory Services to assist the City with planning and structuring debt. A description of planned steps to be taken should include information required to complete such a plan, internal and external influences on such a plan, and expected timeline to develop this plan. To assist the City with the planning and structuring of the City, School, and Sewer and Water debt for the Capital Projects. This assistance will include the computation of Qualified Bond coverage ratios and the preparation of applications to the Local Finance Board. In addition, the Advisors will assist the City with the evaluation of the advantages of bond insurance, supervision and verification of bidding procedure, preparation and distribution of the Official Statement, and the design of presentations and attendance at meetings with credit rating agencies or bond and underwriters. To assist the City in the planning and preparation of any issuance of debt, for capital project funding or tax appeal refunding or for any other purpose. To advise the City on other financial project including the review of proposed financing of related agencies, and other projects as assigned by the Director of Finance. To assist the City in planning and meeting with Rating Agencies for purpose of increasing the City’s bond rating. To assist in non-traditional financings, including but not limited to, RAB and RAD, Tax Increment Financings, and Sale Leasebacks. To develop a detailed plan designed to assist the City in improving it underlying bond rating. To assist the City in its analysis of any proposed financing for refunding or restructuring debt. To advise the City on any required presentation before the Local Finance Board and will attend any required meetings.

Details?

Posted: Jul 29, 2024
Response deadline: Aug 30, 2024, 6:00 PM UTC
Status: closed
Buyer: newarknj
Department: Finance
Jurisdiction: newarknj
Reference #: 2024-RFP-Finance

Summary: <p>The City of Newark, NJ will receive RFP responses via the City's e-Procurement Portal for <span class="templateTag mceNonEditable" data-templatevariable="project.financialId"><svg class="codeIcon"
Is Paused: false
Template Title: RFP
Copy Count: 0
Government Organization City: Newark
Government Organization Logo: https://assets.procurement.opengov.com/logos/NewarkNJ.png
Government Organization Name: City of Newark
Government Organization State: NJ
Government Organization Website: https://www.newarknj.gov/
Government Organization Zip Code: 07102
Government Organization Address1: 47-63 Green Street, 1st Level
Government Organization Timezone: America/New_York
Government Organization Country Code: US
Government Organization Phone Country: 1

Contact

(973)733-3776

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Raw record

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RFP responses will be received until <span class=\"templateTag mceNonEditable\" data-templatevariable=\"project.proposalDeadlineTime\"><svg class=\"codeIcon\" xmlns=\"http://www.w3.org/2000/svg\" width=\"14px\" height=\"14px\" viewBox=\"0 0 24 24\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M14.9708 5C15.6167 5 16.2228 5.31193 16.5982 5.83752L21 12L16.5982 18.1625C16.2228 18.6881 15.6167 19 14.9708 19H12V17H14.9708L18.5422 12L14.9708 7H5V10H3V7C3 5.89543 3.89543 5 5 5H14.9708Z\" fill=\"currentColor\"></path><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M6 12C5.44772 12 5 12.4477 5 13V15H3C2.44772 15 2 15.4477 2 16C2 16.5523 2.44772 17 3 17H5V19C5 19.5523 5.44772 20 6 20C6.55228 20 7 19.5523 7 19V17H9C9.55228 17 10 16.5523 10 16C10 15.4477 9.55228 15 9 15H7V13C7 12.4477 6.55228 12 6 12Z\" fill=\"currentColor\"></path></svg>'Proposal Submission Time</span> on <span class=\"templateTag mceNonEditable\" data-templatevariable=\"project.proposalDeadline\"><svg class=\"codeIcon\" xmlns=\"http://www.w3.org/2000/svg\" width=\"14px\" height=\"14px\" viewBox=\"0 0 24 24\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M14.9708 5C15.6167 5 16.2228 5.31193 16.5982 5.83752L21 12L16.5982 18.1625C16.2228 18.6881 15.6167 19 14.9708 19H12V17H14.9708L18.5422 12L14.9708 7H5V10H3V7C3 5.89543 3.89543 5 5 5H14.9708Z\" fill=\"currentColor\"></path><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M6 12C5.44772 12 5 12.4477 5 13V15H3C2.44772 15 2 15.4477 2 16C2 16.5523 2.44772 17 3 17H5V19C5 19.5523 5.44772 20 6 20C6.55228 20 7 19.5523 7 19V17H9C9.55228 17 10 16.5523 10 16C10 15.4477 9.55228 15 9 15H7V13C7 12.4477 6.55228 12 6 12Z\" fill=\"currentColor\"></path></svg>'Proposal Submission Date</span> and then publicly opened. Any proposal received after <span class=\"templateTag mceNonEditable\" data-templatevariable=\"project.proposalDeadlineTime\"><svg class=\"codeIcon\" xmlns=\"http://www.w3.org/2000/svg\" width=\"14px\" height=\"14px\" viewBox=\"0 0 24 24\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M14.9708 5C15.6167 5 16.2228 5.31193 16.5982 5.83752L21 12L16.5982 18.1625C16.2228 18.6881 15.6167 19 14.9708 19H12V17H14.9708L18.5422 12L14.9708 7H5V10H3V7C3 5.89543 3.89543 5 5 5H14.9708Z\" fill=\"currentColor\"></path><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M6 12C5.44772 12 5 12.4477 5 13V15H3C2.44772 15 2 15.4477 2 16C2 16.5523 2.44772 17 3 17H5V19C5 19.5523 5.44772 20 6 20C6.55228 20 7 19.5523 7 19V17H9C9.55228 17 10 16.5523 10 16C10 15.4477 9.55228 15 9 15H7V13C7 12.4477 6.55228 12 6 12Z\" fill=\"currentColor\"></path></svg>'Proposal Submission Time</span> shall not be accepted in the OpenGov system.</p><p><strong>Only electronic proposals shall be accepted.</strong></p><p><strong>NOTE: It is important to note that this process should be completed well in advance of the bid deadline / bid opening. DO NOT WAIT UNTIL THE LAST MINUTE. The City's electronic procurement portal will not allow electronic bids to be submitted once the deadline has passed, even if you've already started the process. The deadline is based on the countdown timer found on the OpenGov bid submission page.</strong></p><p>The Department of Finance of the City of Newark is soliciting Proposals from interested persons and/or firms for the provision of FINANCIAL ADVISORY SERVICES.&nbsp; Through a Request for Proposal process described herein, person(s) and/or firm(s) interested in assisting the Department of Finance with the provision of such services must prepare and submit a Proposal in accordance with the procedure and schedule in this RFP.&nbsp; The Department of Finance will review Proposals only from those firm(s) that submit a Proposal, which includes all the information required to be included as described herein (in the sole judgment of the Department of Finance).</p><p>The Department of Finance frequently calls upon Financial Advisory Services to assist the City with planning and structuring debt. A description of planned steps to be taken should include information required to complete such a plan, internal and external influences on such a plan, and expected timeline to develop this plan.</p><p>To assist the City with the planning and structuring of the City, School, and Sewer and Water debt for the Capital Projects. This assistance will include the computation of Qualified Bond coverage ratios and the preparation of applications to the Local Finance Board. In addition, the Advisors will assist the City with the evaluation of the advantages of bond insurance, supervision and verification of bidding procedure, preparation and distribution of the Official Statement, and the design of presentations and attendance at meetings with credit rating agencies or bond and underwriters.</p><ul><li>To assist the City in the planning and preparation of any issuance of debt, for capital project funding or tax appeal refunding or for any other purpose.</li><li>To advise the City on other financial project including the review of proposed financing of related agencies, and other projects as assigned by the Director of Finance.</li><li>To assist the City in planning and meeting with Rating Agencies for purpose of increasing the City&rsquo;s bond rating.</li><li>To assist in non-traditional financings, including but not limited to, RAB and RAD, Tax Increment Financings, and Sale Leasebacks.</li><li>To develop a detailed plan designed to assist the City in improving it underlying bond rating.</li><li>To assist the City in its analysis of any proposed financing for refunding or restructuring debt.</li><li>To advise the City on any required presentation before the Local Finance Board and will attend any required meetings.</li></ul>",
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  "releaseProjectDate": "2024-07-29T14:32:58.781Z"
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