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  5. ›RFP#061826 - Funding: Vinton War Memorial Remodel

Town of Vinton·Virginia

RFP#061826 - Funding: Vinton War Memorial Remodel

Closes 7/20/2026$25k – $150kRequest for Proposal
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Description

The Town of Vinton is seeking proposals to obtain a direct bank loan, backed by a Tax‑Exempt or Taxable General Obligation Bond, up to $2.5 million to fund capital improvements to the Vinton War Memorial building and grounds. The proceeds must be used and expended within twelve months of the loan closing, and the town will also cover issuance costs. This financing opportunity is open to qualified lenders or financial institutions willing to structure the bond‑backed loan and manage the associated funding flow. • Total financing requested: up to $2,500,000 in bond‑backed loan form. • Project scope: capital renovations and site improvements for the War Memorial; all work must be completed and funds expended within 12 months. • Timeline: solicitation posted July 8 2026, proposals due July 20 2026; project completion expected within a year of closing. • Primary contact: Tiffany Stewart (town‑level point of contact). • No site visits, pre‑bid meetings, or Q&A deadlines are provided.

Attached files

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Contact

Tiffany Stewart

Key dates

Opened
7/8/2026
Closes
7/20/2026
Duration
12 months

Last updated

Details

Type
Request for Proposal
Industry
Financial Services
NAICS
522310
Solicitation №
RFP-123933

Budget estimate

$25,000 – $150,000

The bond‑backed loan is capped at $2.5 million. Typical loan origination fees for municipal financing range from 0.5% to 2% of the principal, and annual interest earnings for the lender may range from 3% to 5% on the outstanding balance. Assuming a 1% upfront fee, the client could earn about $25,000 immediately. If the loan is held for a year at 3–5% interest, earnings could be $75,000–$125,000. Therefore a reasonable estimate for total compensation (fees plus interest) lies between $25,000 and $150,000, depending on fee structure and interest rate.

AI estimate from the solicitation

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