Monterey Opengov #284330

Monterey Seeks Advisory Services for Enhanced Infrastructure Financing District Formation

The City of Monterey is seeking expert advisory services to evaluate and potentially form an Enhanced Infrastructure Financing District (EIFD) or similar Tax Increment Financing (TIF) district. - Government Buyer: - City of Monterey, City Manager's Office - Scope of Services: - Advisory services for evaluating and forming an EIFD or TIF district - Tasks include boundary evaluation, revenue and bonding capacity analysis, governance structure assessment, implementation timeline development, and presentation of findings - Stakeholder engagement and facilitation - Vendor Requirements: - Minimum three years of public finance advisory experience - Demonstrated expertise in California EIFD or TIF district formation - Must include a Municipal Advisor registered with the SEC and MSRB - Experience with California public agencies and redevelopment dissolution law - Ability to begin work promptly upon contract execution - No specific OEMs or product part numbers are involved, as this is a professional services solicitation - Contract Details: - Initial term of one year, with up to two additional one-year renewal options - Separate fee schedule required for major tasks

Description

The City of Monterey is requesting proposals from qualified firms with experience in municipal public finance and financing district advisory services. The selected firm will assist the City in evaluating and potentially forming a special purpose Tax Increment Financing (TIF) district, such as an Enhanced Infrastructure Financing District (EIFD), to fund critical public infrastructure and facilitate economic development. The scope includes evaluating boundary alternatives, revenue and bonding capacity, governance structure, and stakeholder engagement. The contract term is anticipated to be one year with options to renew.

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