Residential Utility Underground Loan Program

The City of Newport Beach is seeking qualified financial institutions, banks, or credit unions to design, fund, administer, and offer a private residential loan program to support property owners in financing utility undergrounding improvements. The program must operate entirely independent of City funding, guarantees, or credit support, with proposers responsible for all financial risk and operational execution. The City intends to enter into one or more non-exclusive Memorandums of Understanding with selected proposers, reserving the right to award multiple agreements if it serves the public interest. Proposals must be submitted electronically through the Bonfire platform or as a hard copy by the deadline of June 5, 2026, and no bid bond is required. The solicitation number is 26-50, and the North American Industry Classification System code is 522291. The Finance Department of the City of Newport Beach is the contracting office, with Jennifer Anderson as the primary point of contact. The program's success will be measured by alignment with municipal objectives, accessibility to eligible property owners, and the proposer’s ability to deliver a fully functional loan system including origination, underwriting, and servicing without City involvement. No specific performance metrics, evaluation factors, inspection criteria, or contract value estimates are provided in the available documentation, and no standard Federal Acquisition Regulation clauses or certification requirements are referenced. The Place of Performance is not specified beyond California, and no funding sources, payment terms, invoicing methods, or contracting officer details are identified.