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.
Set up free email alerts and get notified when new government bids, tenders and procurement opportunities match your industry and location. Choose daily or weekly delivery.