CHFA-260-RFQ for Multifamily Underwriting Services
| Agency: | Connecticut Housing Finance Authority |
|---|---|
| State: | Connecticut |
| Level of Government: | State & Local |
| Category: |
|
| Opps ID: | NBD15051329064710924 |
| Posted Date: | Sep 12, 2023 |
| Due Date: | Nov 15, 2023 |
| Source: | Members Only |
| RFP | Post Date | Due Date | Additional Documents |
| CHFA-260-RFQ for Multifamily Underwriting Services | 09/11/23 | 11/15/23 4:00 p.m. |
Attachment Preview
Dear Interested Party:
Date: September 11, 2023
REQUEST FOR QUALIFICATIONS FOR MULTIFAMILY
UNDERWRITING SERVICES
The Connecticut Housing Finance Authority (“CHFA”) requests written proposals for
multifamily underwriting services. CHFA will not reimburse for any expenses incurred in
connection with this Request for Qualifications (“RFQ”) including, but not limited to, the cost of
preparing the initial response and any additional information requested or travel expenses
relating to any oral presentation. Please be advised that responses will be considered property of
CHFA, are matters of public record, and may be disclosed by CHFA after the awarding of a
contract.
OVERVIEW
CHFA, a body politic and corporate constituting a public instrumentality and political
subdivision of the State of Connecticut, was created in 1969 and operates pursuant to Chapter
134 of the Connecticut General Statutes, as amended. CHFA’s purpose is to help alleviate the
shortage of affordable housing for low-income and moderate-income families and persons in
Connecticut by providing single family mortgages, financing for rental housing, and mortgages
for the purchase, development and construction of housing.
For additional information about CHFA, please reference CHFA’s website at
www.chfa.org.
SCOPE OF SERVICES
CHFA is seeking qualified individuals and/or firms to provide underwriting and related
services on complex multifamily construction, construction to permanent, permanent, and
rehabilitation loans, Federal Low-Income Housing Tax Credit (LIHTC) and State Housing Tax
Credit Contribution (HTCC) Program applications. Individuals and/or firms must have a
minimum of 10 years’ experience in commercial real estate underwriting, asset management and
multifamily residential financing, as well as real estate and appraisal or appraisal review
experience. Extensive knowledge of and experience with affordable housing funding
programs/sources including LIHTCs, real estate supply and demand factors, appraisal and
market study analysis and real estate financial analysis are essential. Individuals and firms must
also have knowledge in real estate development and construction related matters and knowledge
of various tax credit and bond financing mechanisms including but not limited to, applicable
fractions, eligible basis, and adjusted basis. Transactions contemplate multiple financing sources
in addition to CHFA, experience with a capital stack of public and private financing is required.
Individuals or firms would be expected to underwrite to CHFA standards, and to work with
CHFA staff to support transactions at all stages of the loan life cycle. The ability to prepare and
review budgets, to balance sources and uses, and review construction advances is required.
Individuals and/or firms will be evaluated based on written responses to this RFQ, additional
written information as requested by CHFA and oral interviews, if any, including, but not limited
to, the following criteria:
• Qualifications
• Experience underwriting multifamily housing applications
• Fees
• Commitment to Affirmative Action and/or Diversity, Equity, and Inclusion
• Connecticut presence
• Conflicts or potential conflicts
CHFA may select multiple individuals or firms for the services described herein. No
selected individual or firm is guaranteed or ensured any number of contracts or proportion of
business.
REQUESTED INFORMATION
All individuals or firms must address the following issues and questions:
1. Provide a brief description of yourself or firm and main areas of business, along with key
strengths and qualifications of yourself or firm to provide multifamily underwriting
services to CHFA. (Your response to this question should not exceed one page).
2. If a firm, describe your presence in Connecticut, if any, including corporate existence in
Connecticut, whether formed in Connecticut or authorized to do business in the state.
This may include, but not be limited to, information on the number of offices your firm
maintains in Connecticut, the location of such offices, the number of Connecticut
residents employed in those offices, and payroll and corporate taxes paid in Connecticut.
If your firm currently is not registered with the Connecticut Secretary of State, please
indicate whether your firm will register if your firm is awarded this contract.
3. If a firm, include any participation by your firm in any civic or other non-profit activities,
including any charitable contributions that your firm made in Connecticut.
4. If a firm, provide a brief summary of the professional background of any individuals who
would be assigned to work with CHFA. Please indicate their probable areas of
responsibility and the percentage of their time which would be available to service
CHFA.
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5. Provide the rate or range of rates at which services would be billed. No response shall be
for more than 1,000 hours and/or $50,000 in a single calendar year.
6. If a firm, provide, in tabular form, information on the employee composition of your firm
indicating the total number of employees and the total number and percentages of
minorities and women employed and their titles.
7. If a firm, submit specific information regarding your firm’s commitment to Affirmative
Action and/or Diversity, Equity, and Inclusion. Please include, at a minimum, policies
and practices, including but not limited to hiring practices, and any information that
would demonstrate your firm’s commitment to expanding diversity in the workplace,
including recruiting initiatives, retention and promotion efforts and ongoing assessment
of your firm’s progress with respect to underrepresented groups (e.g., in terms of
ethnicity, gender, sexual orientation, disability, etc.). Please include your firm's most
recent EEO-1 report if required to file.
8. If a firm, describe your firm’s commitment to diversity, education and training of the next
generation of workers in your profession. Please include:
a. A brief description of any internship programs your firm offers and the applicable
percentage of the internships for the underrepresented groups.
b. A brief description of any scholarships your firm provides to students and the
applicable percentage of the underrepresented recipients.
9. If a firm, does your firm have a written policy, program, or initiatives to foster business
relationships with the underrepresented groups? If so, please provide details of the
program and the percentage of business conducted with those groups.
10. Describe any and all material lawsuits, legal or administrative proceedings or
governmental investigations, criminal actions or law enforcement activities (including
those by federal, state or local authorities, or self-regulatory organizations) or non-routine
inquiries or investigations relating to you, your firm, or any of your affiliates, including
any proceedings to which you, your firm, your affiliates or any of their respective
officers, directors or employees are a named party or of which any of such has been the
focus, that have occurred in the last three (3) years or that are currently threatened,
including whether you, your firm, or any of your affiliates, or their respective officers,
directors or employees have been censured by any regulatory body. Describe any such
circumstances and advise whether these investigations or proceedings will affect you or
your firm’s ability to complete the proposed transaction and perform the services in this
RFQ.
11. Describe whether you foresee any potential conflicts of interest arising from providing
multifamily underwriting services to CHFA. If so, describe how your firm would address
potential conflicts of interest.
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12 Have you or your firm ever been removed from an account prior to the expiration of its
contract (i.e., been fired)? If so, please explain. If you wish, list the name of a third party
with whom CHFA could discuss this termination.
13. Describe your knowledge of and past experience with CHFA.
14. Please provide a minimum of two references with whom you have provided similar
services. Please include the name of the person to contact, his or her phone number and
email address. Please include as references any other State of Connecticut agencies or
departments that have engaged or employed you or your firm to perform services.
15. Selected persons or firms must comply with CHFA and State Ethics requirements, laws
and regulations. Persons or firms seeking to do business with CHFA are required to
comply with the ethics statement, attached hereto on Exhibit C, and the applicable
provisions of the Code of Ethics and Code of Ethics for Lobbyists incorporated therein by
reference.
16. Selected persons and/or firms will be required to execute and submit with the proposals,
qualifications and with any agreement or contract awarded in accordance herewith all
applicable representations and certifications set forth on Exhibit A, attached hereto and
made a part hereof, regarding:
• Whistleblowing; Connecticut General Statutes §4-61dd
• Gift and Campaign Contributions; Connecticut General Statutes §4-252, as
amended by Public Act 21-76
• Entities Making Investments in Iran; Connecticut General Statutes §4-252a, as
amended by Public Act 21-76
• Nondiscrimination; Connecticut General Statutes §4a-60 & Connecticut General
Statutes §4a-60a, as amended by Public Act 21-76
• Consulting Agreements; Connecticut General Statutes §4a-81
• Campaign Financing Contributions; Connecticut General Statutes §9-612, as
amended by Public Act 21-76
• Occupational Safety & Health; Connecticut General Statutes §31-57b
All of the above are attached hereto in full and incorporated herein on Exhibit C.
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FREEDOM OF INFORMATION ACT
Please be advised that all information submitted in a proposal or in response to a request
for additional information is subject to disclosure under the Connecticut Freedom of Information
Act, as amended and judicially interpreted. If an individual or firm believes that its response
contains financial, trade secrets or other data that it claims should not be public (“Confidential
Information”), the individual or firm must identify specifically the pages and portions of its
proposal or additional information that contain the claimed Confidential Information by visibly
marking all such pages and portions. An entire response marked Confidential Information will
not be accepted. If CHFA receives a request for an applicant’s Confidential Information, it will
use its best efforts to notify the firm of such request and provide the applicant with a copy of any
written disclosure request, provided, CHFA will not be liable to the individual or firm or any
other party for any failure to act as described herein. The individual or firm may provide written
consent to the disclosure or may object to the disclosure by notifying CHFA in writing,
identifying in the notice the basis for its objection, including the appropriate statutory
exemption(s) from disclosure. The individual or firm shall be responsible for defending any
complaint brought in connection with the nondisclosure, including, but not limited to, appearing
before the Freedom of Information Commission, providing witnesses and documents as
appropriate, and for payment of CHFA’s costs and expenses, including attorney fees.
SUBMISSION OF RESPONSES
The following requirements must be observed in the preparation and submission of a proposal:
1. All inquiries should be directed to Shelly Mondo at RFP.RFQ@chfa.org no later than
October 15, 2023. Firms submitting a proposal should not contact members of the
CHFA’s Board of Directors or CHFA staff, which may be grounds for elimination from
consideration.
2. The entire proposal must not exceed 20 single-sided pages, exclusive of cover letter and
exhibits.
3. Submissions must be sent electronically (not to exceed 25 MB) to RFP.RFQ@chfa.org
no later than 4:00 p.m. on November 15, 2023. Faxed responses will not be considered.
4. If a firm, responses must include a cover letter signed by an individual authorized to enter
into an agreement with CHFA on behalf of the firm which shall specify that the firm is
responding to the RFQ for Multifamily Underwriting. Please also remember to include
completed Exhibit A (Representations and Certifications), and Exhibit B (OPM
Form 1 and SEEC Form 10).
5. Selected individuals and firms must comply with all state and federal laws applicable to
CHFA including, but not limited to, ethics requirements, laws, procedures, and
regulations and must execute CHFA statutory provisions, certifications and affidavits
attached hereto.
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