Request for Proposal for a Non Bank-Qualified Loan - Okaloosa County RFP-BCC 24-11

Okaloosa County » RFP-BCC 24-11

The information below is a summary of solicitation number RFP-BCC 24-11 posted by Okaloosa County.  As a reminder, this solicitation is closed and responses are no longer being accepted.

Request for Proposal for a Non Bank-Qualified Loan

Date Issued: 04/08/2011

Deadline: 04/25/2011  prior to 2:00 PM   C.D.T.

Requisition Number:

Delivery Point: Crestview, FL

Delivery Date: NA

Type of Purchase: Term: Unspecified

Construction Related: No

Type of Response Allowed: Hard Copy Only

Issuing Agency: Okaloosa County

Using Department: Board of County Commissioners

Special Notices: All or None Award

ACCEPTING VENDOR QUESTIONS:

Due Date: 4/18/2011 4:00:00 PM C.D.T.

Primary Contact Name: Mr. Mark Galvin

Title: Sr. Vice President FirstSouthwest

Email: mark.galvin@firstsw.com

SUMMARY OF SPECIFICATIONS:

A. PURPOSE The purpose of this Request for Proposal (RFP) is to identify the institution that can provide Okaloosa County, Florida (the “County”) with a “Non-Bank Qualified” loan in the principal amount not exceeding $3,600,000 at the lowest overall borrowing cost, pursuant to certain conditions.  The County shall accept and review proposals from qualified financing institutions for a “Non-Bank Qualified” (Tax-Exempt) Fixed Rate bank loan based upon the proposed financing structure below. The County will select the proposal that provides the lowest overall borrowing cost to the County and meets the financing requirements of the County. FirstSouthwest, Orlando, Florida, as the County’s Financial Advisor, will assist with reviewing/arranging a fixed rate bank loan with a financial institution. B. THE PROJECT The proceeds of the loan will be used to fund a portion of the cost associated with the acquisition and renovation of approximately 28,800 sq. feet of office space located at 302 North Wilson Street, Crestview, Florida 32536 on approximately .964 acres. The building consist of a two (2) story section built as a bank building in 1967 with 8,999 sq. ft. and a three (3) story section built as an addition in 1982 with 19,600 sq. ft. The County currently occupies the 3 story section with the offices for the County’s Clerk of Court, the Supervisor of Elections and the Board of County Commissioners. With the acquisition of the building and renovation of the two story section the County will also house the offices of the Tax Collector along with providing additional storage space for the County. 

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