Bid Detail

17-062 - RFP: Fund Administrator for Downtown Dining District

INTRODUCTION


In an effort to strengthen the Downtown Springfield economy, the City of Springfield has invested heavily to improve the quality of the physical environment. The City has made and will continue to make significant downtown infrastructure improvements including the installation of new decorative light poles, repairing streets and sidewalks, hanging flower baskets. The City plans to continue maintaining its physical improvements in the coming years in order to provide a physical environment attractive to residents, workers, students, and visitors.

The City takes pride in the ability to provide a live-work-play environment for people of all ages. Currently, nearly $3 billion in economic activity of all types is occurring in Springfield including the $950 million MGM Springfield project, the redevelopment of historic Union Station, and the construction of a new railcar assembly plant by a Chinese company, CRRC.

Construction of MGM Springfield is designed to attract thousands to Downtown Springfield each day, to attend sporting events, concerts, and conventions. The City plans to couple this investment with a strong regional marketing campaign that aims to attract visitors to Springfield, its museums and its entertainment venues and thereby stimulate investment and business opportunities in the Downtown Dining District.

Despite Springfield’s past successes, more work needs to done to achieve the quality, density and variety of the restaurants needed in the Downtown Dining District that meets the needs of local residents and has the potential to attract new visitors. A core of quality restaurants has succeeded, and a sustained effort is underway to continue to attract new and exciting restaurants to add to that core in Downtown Springfield.

The need identified for this program is for a financing mechanism that can provide an incentive for experienced restaurateurs to upgrade or locate a quality establishment in Downtown Dining District.

As such, the city is pursuing approval from the United States Department of Housing & Urban Development (HUD) to operate a $1.5 million fund to attract restaurants into a targeted district focused on Springfield’s “Transformative Development Initiative” district, outlined in the attached information.

The selected Fund Administrator for the Downtown Dining District Fund (DDD Fund) will provide services for the program in the following areas:

• Providing technical assistance to the City of Springfield, the DDD Fund Borrowers, and the DDD Fund Applicants, including – but not limited to – underwriting, implementation of standard commercial banking practices, project feasibility analysis and any other financial analysis which may assist in decision making;
• Ensuring Applicant/Borrower compliance with applicable HUD Regulations;
• Preparing a comprehensive financial loan application package;
• Administering the DDD Fund loan approval process;
• Administering all the DDD Fund loans until fully repaid;
• Serving as document custodian for all Section 108 HUD documents related to the funds;
• Ensuring accurate and timely use and transfer of HUD funds to Borrower, and return of those funds to city upon repayment.

Questions and Answers

All questions must be received by the Office of Procurement on November 9, 2016 at close of business. You may fax your questions to 413-787-6295 or email at lstabilo@springfieldcityhall.com

In order to be considered for selection, signed proposals should arrive at the Office of Procurement, City Hall, Room 307, 36 Court Street, Springfield, MA 01103 by Wednesday, November 16, 2016 AT 2:00PM (local time). Prospective Fund Administrators who are mailing proposals should allow for normal mail delivery time to ensure timely receipt of their proposals.

The City of Springfield shall bear no responsibility for any proposals that arrive, by any means, beyond the Response Date indicated in this RFP.

The Chief Procurement Officer reserves the right to waive any informality in the proposal, to reject any or all proposals or to accept any proposal which it deems to be in the best interest of the City.

A pre-proposal meeting will not be held for this project.

Proposers are asked to mail or hand-deliver one (1) unbound original and four (4) bound copies of both the non-price (technical) and price (cost) proposals. All proposals to be considered must be prepared in accordance with the requirements as specified in this Request for Proposals (herein “Fund Administrator DDD- Bid 17-062”) dated November 16, 2016.

Available Solicitations

As of 6:04 am Wednesday, April 24, 2024

24-236 - Interior Painting at Rebecca Johnson Elementary School
End date: Tuesday May 14, 2024 at 2 p.m.

24-235 - Interior Painting at Milton Bradley Elementary School
End date: Tuesday May 14, 2024 at 2 p.m.

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End date: Monday May 13, 2024 at 2 p.m.

24-234 - Window Shade Replacement at the High School of Commerce
End date: Friday May 10, 2024 at 2 p.m.

24-233 - Fire Escape Repairs at Old Homer St. School
End date: Thursday May 9, 2024 at 2 p.m.

24-232 - Site Improvements at Arthur T. Talmadge Elementary School
End date: Thursday May 9, 2024 at 2 p.m.

24-231 - Site Improvements at Brightwood-Lincoln Elementary School
End date: Thursday May 9, 2024 at 2 p.m.

24-221 - Mary O. Pottenger School Parking Lot Improvement Project
End date: Thursday May 2, 2024 at 2 p.m.

24-220 - Frank H Freedman School Parking Lot Improvement Project
End date: Thursday May 2, 2024 at 2 p.m.

24-219 - Daniel B. Brunton School Parking Lot Improvement Project
End date: Thursday May 2, 2024 at 2 p.m.

24-180 - Roadway & Sidewalk Improvements - Arterial and Residential Streets including Sidewalks
End date: Wednesday May 1, 2024 at 2 p.m.

24-205 - Request for Proposals for Springfield's 2024 Public Mural Program
End date: Monday April 29, 2024 at 2 p.m.

24-226 - Flooring Installation at Mary O. Pottenger Elementary School
End date: Friday April 26, 2024 at 2 p.m.

24-225 - Abatement at Mary O. Pottenger Elementary School
End date: Thursday April 25, 2024 at 2 p.m.

24-224 - Abatement at Samuel Bowles Elementary School
End date: Thursday April 25, 2024 at 2 p.m.

24-223 - Abatement at Springfield Public Day Middle School
End date: Thursday April 25, 2024 at 2 p.m.

24-203 - RFP: Review and Update of Historical District Guidelines, Policies and Procedures
End date: TODAY Wednesday April 24, 2024 at 2 p.m.

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