Financial Services -Brownfields Revolving Loan Fund

CVRPC is seeking a qualified financial institution to provide comprehensive financial services for its newly established Brownfields Revolving Loan Fund, capitalized by a $1 million FY25 EPA grant under the Infrastructure Investment and Jobs Act. The fund will support the remediation and redevelopment of brownfield sites across Vermont by offering discounted, flexible loan terms—supplementing grants—to municipalities, nonprofits, and for-profit entities with limited financial capacity or development experience. The primary goals include reducing exposure to environmental contaminants, creating affordable housing, generating employment, building flood resilience, and establishing public open spaces, with a strong emphasis on projects that would not be feasible without accessible financing. The selected institution will be responsible for loan underwriting, credit analysis, loan agreement preparation, servicing of repayments, delinquency management, and producing quarterly and annual financial statements, all tailored to accommodate the diverse financial literacy and risk profiles of borrowers. The financial services will be combined with legal support to ensure compliance with federal and state regulations, including Uniform Guidance (2 CFR Part 200), CERCLA §104(k), NEPA, NHPA, ESA, and Vermont’s Standard Contract and Grant Provisions, while safeguarding the fund’s financial and legal integrity. The contract calls for a financial institution to propose compensation through flexible models such as no fee, retainer, per-loan flat fee, or percentage of loan value, while a separate legal provider must submit detailed billable rates, estimated hours, and projected expenses. Proposals are evaluated using a weighted system: 35% for experience and capabilities, 35% for cost, and 30% for management approach and project methodology, with selection made by a committee of CVRPC staff and consultants and approved by the Board of Commissioners’ Executive Committee. Performance is tied to a grant period spanning May 16, 2025, through September 30, 2030, during which all deliverables—including loan documents, policy revisions, audit support, and financial reports—must be submitted in Microsoft Word and PDF format and become the sole property of CVRPC. Contractors must be registered with the Vermont Secretary of State, provide proof of insurance including $1 million general liability, $1 million professional liability, and $1 million motor vehicle coverage, complete federal and state debarment certifications, and submit a W-9. All submissions are public record unless proprietary elements are clearly marked under 1 V.S.A. Chapter 5, and proposals must be emailed to Eli Toohey