The City of Albany is seeking proposals for Senior Managing Underwriter, Placement Agent, and Direct Purchaser services for an approximate $16 million revenue anticipation note. Proposals are due by May 29, 2026, at 10:00 AM. The contract is expected to commence in June 2026 and terminate on December 31, 2027, with two one-year extension options. Key requirements include a statement of qualifications, cost proposal, noncollusive proposal certificate, Iran Divestment Act statement, and nondiscrimination/diversity compliance. The city encourages MWBE participation. The evaluation criteria will consider demonstrated capabilities, professional qualifications, experience, financial wherewithal, total proposed cost, and completeness of the proposal, with considerable weight given to experience and track record. The city reserves the right to award based on best value or lowest responsible bidder. Insurance requirements include workers compensation, commercial general liability, errors and omissions, excess/umbrella, and automobile liability. A living wage must be paid to all employees working on the service contract.
Proposals are due by May 29, 2026, at 10:00 AM. The contract period is expected to commence in or about June 2026 and terminate on December 31, 2027, with two one-year extension periods to be exercised at the City's option.
Invoices shall be submitted in a form acceptable to the City and shall include, at a minimum, the contractor's legal name and address, the contract or RFP reference number, invoice number and invoice date, the billing period covered, a clear description of the services performed, the applicable rates or unit prices, and the total amount due. Invoices that do not contain sufficient detail may be returned unpaid. Payment is contingent upon the City's review and approval of the invoice and confirmation that the services were performed in accordance with the contract.
The selection of a proposal will not be based solely on a monetary evaluation. Considerable weight will be given to the experience in the areas required and the track record of the proposers. When evaluating proposals, the City reserves the right to apply either the best value or lowest responsible bidder standard.
Each proposer shall provide a statement of qualifications including a brief history and description of the entity, identification of assigned staff members with their qualifications and availability, evidence of required licenses and certifications, at least three references, a signed cover letter, evidence of experience performing the subject services, evidence of properly trained staff, identification of any subcontracted services, and any additional information that would distinguish the proposer.
Failure to include all required items in the proposal may result in the proposal being considered nonresponsive. If a proposer files a notice of a material and substantial mistake in the preparation of its proposal within twenty-four hours after proposals are opened and demonstrates this to the City's satisfaction, that proposer may withdraw its proposal and will be disqualified from further consideration.
The City is issuing this RFP specifically for senior managing underwriting, placement agent, and/or direct purchaser services for the issuance of approximately 16 million revenue anticipation note for cash flow borrowings.
