Description
The Department of Environmental Conservation (DEC) is seeking proposals for financial, administrative, underwriting, and consultation services for the operation and management of loan funds available for three programs: the Underground Storage Tank (UST) Loan Assistance Program, the Vermont Wastewater and Potable Water Revolving Loan Fund, and the Dam Safety Revolving Loan Fund. The selected entity will be responsible for creating loan applications, closing documents, and other forms related to the underwriting, closing, and servicing of loans. They will also establish borrower accounts, create a servicing mechanism, and provide approval letters to applicants. The scope of work includes financial review, underwriting, and loan program startup assistance.
• The UST Loan Assistance Program provides interest-free loans or loans at a 2% interest rate to eligible applicants for the repair or replacement of underground storage tanks.
• The Vermont Wastewater and Potable Water Revolving Loan Fund provides low-cost financing for the repair or replacement of failed septic and water supply systems.
• The Dam Safety Revolving Loan Fund provides loan funding for the reconstruction, repair, removal, or other actions necessary to reduce the threat of an unsafe dam.
• The proposal must include a detailed scope of work, a statement identifying individuals involved in the preparation of the proposal, and a detailed description of the organization's experience with the requested services.
• The selection criteria include capacity to perform the scope of services, experience and qualifications of the institution/staff, experience/ability to work with non-bankable clients, and cost.