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Basic Information

Reference Number

0000213948

Issuing Organization

City of Loveland

Solicitation Type

RFP - Request for Proposal (Formal)

Solicitation Number

2019-45

Title

Tax Exempt Financing 2019

Source ID

PU.AG.USA.1245.C5833751

Details

Location

United States, Colorado, Larimer County

Piggyback Contract

Description

The City desires to obtain a commitment from a qualified financial institution for an up to twenty (20) year, six-hundred-seventy-five thousand dollar ($675,000) bond, loan, or line-of-credit to be secured by tax increment revenues deposited in the City’s special fund for the Downtown Development Authority to finance capital improvements and other eligible improvements for a project to be located on the northeast corner of 4th and Garfield. Construction of the all capital improvements may take up to two years. Proceeds from the financing will be applied to the project at certification of occupancy of the building. Please refer to the project description in the attachments.

In addition to the institutional bond, loan, or line of credit solicited herein, the City is evaluating other financing techniques for similar projects in the Downtown Development Authority in the upcoming months. The City will pursue the most advantageous financing option, or combination of financing options, available. More than one financial institution may be selected through this competitive process.

Dates

Publication

04/24/2019 11:22 AM MDT

Bid Intent

Not Available

Question Acceptance Deadline

05/09/2019 05:00 PM MDT

Questions are submitted online

Closing Date

05/16/2019 02:00 PM MDT

Prebid Conference

05/09/2019 02:30 PM MDT

Contact Information

Alan Krcmarik

alan.krcmarik@cityoflovelanbd.org

Pre-Bidding Events

Event Type

Prebid Conference

Attendance

Recommended

Event date

05/09/2019 02:30 PM MDT

Location

Council Chambers at 500 E. 3rd St. Loveland, CO 80537

Event Note

The City will hold a pre-bid meeting on May 9 at 2:30 p.m. at City Council Chambers, 500 E. 3rd Street Loveland, Colorado, to allow proposers an opportunity to ask questions prior to the submission of proposals. This meeting is not mandatory. Proposals may be submitted without being represented at the meeting.

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Bid Submission Process

Bid Submission Type

Physical Bid Submission

Additional Bidding Instructions

The proposal must be enclosed in a sealed envelope and clearly labeled “Proposal for Tax-exempt Financing” with the institution’s name. The proposal must be received by the Loveland City Clerk’s Office, Loveland Civic Center, 500 East Third Street, Suite 230, Loveland, CO 80537 on or before 2:00 p.m. on Thursday, May 16, 2019. The City will receive, date, and time stamp all proposals. Proposals that are not received by the deadline set forth above, as determined by the City Clerk’s Office, will not be considered. The City is not responsible for delays occasioned by the U.S. Postal Service, the City’s internal mail delivery system, or any other means of delivery employed by the institution.