REQUESTS FOR PROPOSALS ARCHIVE

Request for Proposals Archive

The Arkansas Development Finance Authority (“ADFA” or the “Authority”) is charged with the responsibility of administering federal low-income housing tax credits (“Housing Credits”) for the State of Arkansas (the “State”). ADFA is also charged with the responsibility of promulgating rules and regulations concerning the allocation of the Arkansas low-income housing tax credit (the “State Housing Credits”) pursuant to Ark. Code Ann. § 26-51-1701 et seq. The Tax Reform Act of 1986 created the Housing Credit to encourage the private sector to invest in the construction and rehabilitation of housing for low and moderate-income individuals and families. Section 42 of the Internal Revenue Code of 1986, as amended (“IRC” or the “Code”), mandates that housing credit agencies adopt a Qualified Allocation Plan (“QAP”) for allocation of the Housing Credit to low-income rental developments throughout their respective states. Low-income housing tax credits shall be allocated in accordance with this plan or any amendments thereto. Part of the QAP addresses the need for an Independent Market Study when dealing with rehabilitation developments and tax-exempt bonds. The requirement for an independent market study is detailed in the 2019 QAP, Section I(C)(6) and I.R.C. Section 42(m)(1)(A)(iii). ADFA would like to solicit proposals from qualified firms to provide the described market studies. Any firm selected pursuant to this RFP shall serve at the pleasure of ADFA, and the professional services of any firm selected may be terminated at the sole discretion of ADFA upon delivery of written notice of such termination to the firm. ADFA reserves the right to select one or more firms to serve as the market study provider. Any firm selected pursuant to this RFP shall serve at the pleasure of ADFA, and the professional services of any firm selected may be terminated at the sole discretion of ADFA upon delivery of written notice of such termination to the firm.

The Arkansas Development Finance Authority (ADFA) is requesting proposals from investment banking firms to serve as senior underwriter for the financing of the Authority's Economic Development Revenue Bond Program. Bonds issued by ADFA will be guaranteed by the ADFA Bond Guaranty Program or the Arkansas Economic Development Commission (AEDC) Bond Guaranty Program.

The Arkansas Development Finance Authority (“ADFA”) seeks proposals from qualified firms to develop a Policies and Procedures Manual for the HOME Investment Partnerships Program (“HOME Program”), a program of the U.S. Department of Housing and Urban Development (“HUD”). The successful firm must demonstrate direct experience providing expertise, consulting services, and technical assistance in all aspects of the HOME Program. Expertise in any of the other federal requirements set forth in 24 CFR 92.350 through 24 CFR 92.358 will be viewed as an added benefit.