Description
The Central Vermont Regional Planning Commission (CVRPC) is soliciting proposals for financial services associated with the management of the CVRPC Brownfields Program’s Revolving Loan Fund. The selected financial institution will provide loan underwriting, loan servicing, and advice in financial product design for the CVRPC Brownfields Revolving Loan Fund. The RLF will fund cleanup projects that benefit residents by reducing exposure to contaminants, create safe and affordable housing, generate job opportunities in newly created or retained commercial space, incorporate flood resilience, or create public open space.
• The RLF program will prioritize projects that provide clear tangible public benefits and would not be possible without advantageous financing.
• The selected financial institution will provide guidance and financial oversight that considers the differing needs and capabilities of RLF loan applicants.
• The financial institution will be responsible for financial servicing functions, including collecting loan repayments and providing quarterly and annual financial statements.
• The institution will also attend CVRPC Brownfields Advisory Committee and Executive Committee meetings to provide financial advice.