1176366 - Community Development Financial Institution

The County intends to partner with an experienced Community Development Financial Institution (CDFI) organization to administer the ECE Facility Fund per the guidance from the Core Strategies CDFI Final Report submitted in February 2024 (Link).  

The County intends to award one (1) contract under this Request for Proposal (RFP). The estimated FY25 amount of the award will be $4,480,000. The successful Offeror will manage and maintain the County’s capital improvement project fund that supports the ECE as well as offer extensive business supports to early care and education programs. This funding allocation includes $4 million earmarked for loans, with an additional $480,000 which is the estimated contract award resulting from this RFP, for fund administration, fund marketing, and business support services for child care providers. The $4 million earmarked for loans is a one-time funding and will be gradually replenished in subsequent years through the loan payments. The $480,0000 administrative funding will be dependent upon County Council appropriations. Subcontractors will not be permitted for this project under this RFP.