Financial Advisory Services

The vendor is required to provide a consultant to perform financial advisory services to support authority finance department.
- Services include but are not limited to:
• Assist authority in the review of existing financial and debt policies and administrative procedures and suggest any appropriate changes.
• Review current debt structure, identifying strengths and weaknesses of structure so that future debt issues can be designed to maximize ability to finance future capital needs
• This will include, but not be limited to, reviewing existing debt for the possibility of refunding that debt to provide authority with savings.
• Analyze future debt capacity to determine authority ability to raise future debt capital
• Assist authority in the development of authority capital improvement program by identifying sources of capital funding, including but not limited to, traditional long-term and short-term debt instruments, federal programs such as the transportation infrastructure finance and innovation act (TIFIA), bank loans and leases.
• Assist authority with the development of authority financial planning efforts and process by assessing capital needs, identifying potential revenue sources, analyze financing alternatives such as pay-as-you-go, lease and purchasing, short- term vs. long-term financings, assessments, user fees, impact fees, developer contributions, public/private projects and grants, and provide analysis of each alternative as required as to the budgetary and financial impact.
• Review the reports of accountants, independent engineers and other project feasibility consultants to ensure that such studies adequately address technical, economic, and financial risk factors affecting the marketability of any proposed revenue debt issues.
• Provide bond market assumptions necessary for financial projections included in these studies; attend all relevant working sessions regarding the preparations, review and completion of such independent studies; and provide written comments and recommendations regarding assumptions, analytic methods, and conclusions contained therein.
• Develop, manage and maintain computer models for long-term capital planning which provide for variable inputs regarding various revenues and expenses growth rates, timing, magnitude and cost of debt issuance, and project operating and capital balances, selected operating and debt ratios and other financial performance measures as may be determined by authority.
• Conduct strategic modeling and planning and related consulting in consideration of best practices and experience gained from other mass transit entities.
• Assist with the preparation of cash flow forecasts related to proposed transactions; addressing debt service requirements, potential sources of funding and consideration of arbitrage rebate implications, it being specifically understood that arbitrage rebate calculations will be performed under a separate engagement.
• Undertake financial planning and policy development assignments made by authority regarding financing, and financial policy including budget, tax, cash management issues and related fiscal policy and programs.
• Assist authority in preparing financial presentations for public hearings and/ or referendums.
• Assist authority in the development and execution of an investor outreach program, including preparations of a “roadshow” to potential investors.
• Provide advice and/or assistance on the investment of financing proceeds.
• Advise on financial tools designed to reduce risk and assist authority in safeguarding its financial assets, including but not exclusive to, interest rate swaps recognizing that execution of any derivative engagement will fall under a separate engagement
• Assist authority in the solicitation, evaluation, and implementation of financial services contracts.
- Services related to debt and financing transactions (includes short-term financings, notes, loans, letters of credit, line of credit and bonds); provided that if the transaction is competitive, the services of the financial advisor will be modified to reflect that process:
• Analyze financial and economic factors to determine if the issuance of bonds is appropriate.
• Develop a financing plan in concert with authority staff which would include recommendations as to the timing and number of series of bonds to be issued
• Assist authority by recommending the best method of sale, either as a competitive sale or as a negotiated sale, private placement or a public sale. in a public sale, make recommendations as to the determination of the best bid
• The event of a negotiated sale, assist in the solicitation, review and evaluation of any investment banking proposals, and provide advice and information necessary
• Upon pricing of bond transactions, provide the authority with the final cashflows or “DBC packet” which includes such standard items such at true interest cost (tic), all-in tic, average coupon, average life, form 8038 statistics, debt service tables and in the case of refunding, net present value (NPV) savings and escrow statistics such as cost and sufficiency as well as final negative arbitrage
• Prepare and distribute closing memorandum and closing book/transaction summary.
• Develop alternatives related to debt transactions including evaluation of revenues available (to include transit-oriented development (TOD) revenue), maturity schedule and cash flow requirements.
• Provide a detailed cost of issuance listing for each transaction and assist authority in the procurement of other services relating to debt issuance such as printing, paying agent, registrar, etc.
• The requirements and submit analysis to bond insurers, rating agencies and other professionals as they pertain to authority obligation.
• As applicable, advise authority on the condition of the bond market at the time of sale, including volume, timing considerations, competing offerings, and general economic considerations. provide requested indicative pricing upon request.
• Advise on post-closing back-office mechanics of transactions such as those related to commercial paper draws, fees and payoffs and accounting issues and questions related to the booking of transactions.
• Provide debt services schedules and profile upon the completion of transactions and at the end of each fiscal year (September 30th) and beginning of each fiscal year (October 1st).
- Contract Period/Term: 3 years
- Pre-Proposal Meeting (Mandatory) Date: April 02, 2025
- Questions/Inquires Deadline: April 07, 2025