Burbank Planet bids #FN-2026-002

Municipal advisory services for Burbank library and civic center bond financing

The City of Burbank is seeking an independent municipal advisor for financing the New Central Library and Civic Center project. - Government buyer: City of Burbank, Financial Services Department, working through Procurement Services. - Procurement: Municipal advisory services for an anticipated approximately $150 million lease revenue bond issuance. The City estimates total project costs of $188–$191 million and cites a Moody’s Aa1 rating. - Scope: Analyze financing alternatives, affordability, credit and market conditions; recommend financing structure and repayment; support ratings and market preparation; coordinate the financing team; review financing and disclosure documents; and assist with the bond sale, pricing, closing, meetings, presentations, and project management. - Post-issuance support: The fixed fee must include 36 months of assistance with debt service, covenants, disclosure and reporting, bond-proceeds investment, cash flow, expenditures, and arbitrage/rebate considerations. Additional authorized work may be billed at hourly rates; an ongoing retainer is optional. - Named prospective bidders: Floral Park Consulting LLC, KNN Public Finance, LLC, and Omnicap Group LLC. They are identified as prospective bidders, not selected awardees. - Term: Three years, with two optional one-year extensions. The bond issuance is expected after the project’s guaranteed maximum price is established; service commencement is anticipated after that point. - Product quantities: No physical products or quantities are specified. The service is identified as FN-2026-002. - Estimated advisory contract value: Not stated in the provided materials; the bond issuance amount is not the advisor’s contract value.

Description

The City of Burbank is seeking proposals from qualified firms to provide municipal financial advisory services, including debt issuance planning, financing analysis, bond transaction support, and post-issuance advisory services. The work will support a debt issuance for the New Central Library and Civic Center project, funded from City capital project funds budgeted for that project. Ongoing financial advisory support may also be provided on an as-needed basis. The agreement term is three years, with two optional one-year extensions; proposals will be evaluated using best-value criteria established in the RFP.

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