Broker Services

The Vendor is required to provide broker services as a one-time service for the marketing and facilitation of the transfer of voluntary cleanup tax credits (VCTCS) received under the department voluntary cleanup tax credit program.
- Broker services may include, but are not limited to: identifying and coordinating with qualified purchasers; facilitating the transfer and/or sale of tax credits; preparing and/or coordinating required transaction documentation; submitting required transfer filings to the State; and coordinating the receipt and transfer of funds to the City.
- Services
•    Provide an initial strategy for the sale of the city’s tax credit(s), including recommended timeline and pricing guidance based on current market conditions.
•    Prepare and distribute marketing materials to qualified purchasers and conduct outreach to a broad pool of potential buyers.
•    Manage purchaser communications and questions, and maintain documentation of the outreach list and results.
•    Solicit, receive, and evaluate offers, then provide an offer comparison showing price, fees, terms, contingencies, and proposed timeline.
•    Recommend best value to the city with the goal of maximizing net proceeds.
•    Support negotiations with the selected purchaser(s) to secure the best overall terms, including price, conditions, and closing schedule.
•    Coordinate the transaction from award through closing, including due diligence coordination, schedule management, and coordination of required transaction documents.
•    Provide a closing checklist and ensure required deliverables are completed by the agreed deadlines.
•    Disclose any actual or potential conflicts of interest, including relationships with potential buyers, and confirm independence.
•    Maintain confidentiality of city information and comply with public records requirements as applicable.
•    Provide status updates at intervals requested by the city.
•    Deliver a post-closing recap including final net proceeds and an itemized accounting of all fees and costs charged and/or deducted from proceeds.
•    Provide reasonable post-closing support, including responses to city questions and assistance with administrative follow-up requests related to the transaction.