Maryville Maryville #1276

Maryville, MO Seeks Bank-Qualified Tax-Exempt Financing for Building Project

The City of Maryville, Missouri is seeking proposals from financial institutions for bank-qualified, tax-exempt financing to support the acquisition and renovation of a city-owned building. - Government Buyer: - City of Maryville, Missouri - Finance Department, Assistant Finance Director (Cheyenne Murphy) - Requested Service: - Bank-Qualified Tax-Exempt Financing for approximately $350,000 (acquisition: $250,000; renovations: up to $100,000) - Financing to refinance eligible acquisition and renovation costs after project completion and updated appraisal - Fixed interest rate commitment required for at least 90 days after commitment letter - Proposals must detail fees, rate lock conditions, and closing costs - Assistance with documentation, closing, and funding required - No specific OEMs or product vendors are involved, as this is a financial services procurement - Notable Requirements: - Minimum 90-day rate lock on interest rate - 10-year proposed loan term - Financing must be bank-qualified and tax-exempt - City reserves the right to reject any or all proposals

Description

The City of Maryville, Missouri is seeking proposals from qualified financial institutions for Bank-Qualified Tax-Exempt Financing related to the acquisition and renovation of a City-owned building. The City purchased the property for $250,000 and plans to invest up to $100,000 in renovations. After project completion and an updated appraisal, the City intends to refinance eligible acquisition and renovation costs through this financing arrangement. Proposals must be submitted by June 16, 2026, at 10:00 a.m.

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