10-Justification Statement - BB26-1.pdf
PDF 172 KB Posted
- Solicitation number
- BB26-1
- Issued by
- Utah
About this file
This is an Award Justification Statement for Solicitation #BB26-1, a Subordinate Shared Appreciation Loan Program issued by the State of Utah, specifically conducted under the Utah Procurement Code. The Request for Proposal (RFP) was a single-source procurement that received only one submission from Utah Dream Fund, L3C, which underwent a three-stage evaluation process. The program involves a $250,000 budget, with $25,000 allocated for program administration and $225,000 designated for awarding Subordinate Loans to Borrowers and Qualified Borrowers.
Utah Dream Fund, L3C was evaluated and scored across six technical criteria, ultimately receiving 111 out of 150 possible points, which exceeded the minimum threshold of 105 points. The organization passed all mandatory minimum requirements, including being authorized to do business in Utah, being a non-profit or partner of a non-profit entity, securing a Letter of Interest/Commitment for matching 3:1 ratio of private funds, demonstrating professional experience in loan provision, and agreeing that the Department shall be the final authority in policy and procedure matters. Based on their comprehensive proposal and scoring, Utah Dream Fund, L3C was determined to offer the best value to the State and was awarded the contract.
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Other files
| File | Type | Posted |
|---|---|---|
| 1-Claim of Business Confidentiality Updated.pdf.pdf | ||
| 2-Vendor Prerequisites - RFP Agency.pdf | ||
| 5-Attachment B - DWS SUPPLEMENTAL TCs 9.11.24.docx | DOCX document | |
| 7-Attachment E - Contractor Questions.docx | DOCX document | |
| 4-Attachment C - Scope of Work.docx | DOCX document | |
| 6-Attachment D - Policy.docx | DOCX document | |
| 3-Attachment A - Agency Contract Terms and Condition GS.docx.docx | DOCX document | |
| 8-Attachment F - Score Sheet.xls | XLS spreadsheet | |
| 9-Award Memo.pdf (1).pdf |
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Award Justification Statement Solicitation #BB26-1
Subordinate Shared Appreciation Loan Program
Results Overall, the evaluation committee determined that the response submitted by Utah Dream Fund, L3C was the highest scoring responsive and responsible proposal and Utah Dream Fund, L3C receive a contract award.
Evaluation Process Proposals were evaluated in accordance the Utah Procurement Code by an Evaluation Committee comprised of representatives from the State. A representative from State Purchasing attended the evaluation committee meetings to assist to ensure that the process outlined in the Procurement Code was followed but was not a voting member of the evaluation committee. A request for statement of qualifications (“RFP”) was conducted under Part 7 of Utah Code 63G- 6a.
Stage 1 Initial Review/Mandatory Minimum Requirements This RFP received one submission. Following evaluation of Stage 1 Initial Review/Mandatory Minimum Requirements, the one offeror passed Stage 1 and was advanced to Stage 2: Technical Proposal Evaluation.
Stage 2 Written Technical Proposal Evaluation For Stage 2: Technical Proposal Evaluation, the final average scores submitted by the evaluation committee for each technical criteria category can be found in Attachment A. Following Stage 2, the one offeror passed the technical scoring threshold and advanced Stage 3 Cost Evaluation.
Stage 3 Cost Evaluation Cost was set and vendor was required to agree with set cost. Cost detail read as: Vendor must agree to the following budget ($250,000 ($25,000 to administer the program, the remaining $225,000 to be used for awarding Subordinate Loans to Borrowers and Qualified Borrowers) as answer to this question.
Conclusion This RFP was conducted as a single award. The methodology or formula that was used to determine the number of contract awards was: It is anticipated that this RFP will result in one contract award. The methodology or formula that will be used to determine the contract awards is: The highest scoring vendor. There are 150 technical points available. The highest scoring vendor that achieves a minimum score of 105 out of 150 technical points will receive a contract.
For total points Utah Dream Fund, L3C received 111 points. Based on the award methodology and total points, the evaluation committee determined Utah Dream Fund, L3C was the highest scoring responsive and responsible proposal and Utah Dream Fund, L3C proposal offered best value to the State and therefore Utah Dream Fund, L3C received a contract award.
Minimum Mandatory Requirements Utah Dream Fund, L3C
Contractor must be authorized to do business in the State of Utah as of the date of your response. Provide an affirmative statement that the Contractor complies with this requirement. PASS
Contractor must be a non-profit or partner of a non-profit entity. PASS
Contractor must have secured a Letter of Interest or Letter of Commitment for matching 3:1 ratio of private funds to Program funds. PASS
Contractor must have demonstrated professional experience providing or purchasing loans that meet the requirements for a Subordinate Loan. PASS
The Contractor must agree that the Department shall be the final authority in matters of policy, procedures and approval of any reports or plans. PASS
Weight Technical Scores Utah Dream Fund, L3C Criteria #1 Total Average Score 4.00
5.0 Criteria #1 - Total Points (Total Possible Points = 25) 20.00 Criteria #2 Total Average Score 2.00
6.0 Criteria #2 - Total Points (Total Possible Points = 30) 12.00 Criteria #3 Total Average Score 4.25
6.0 Criteria #3 - Total Points (Total Possible Points = 30) 25.50 Criteria #4 Total Average Score 3.75
5.0 Criteria #4 - Total Points (Total Possible Points = 25) 18.75 Criteria #5 Total Average Score 5.00
5.0 Criteria #5 - Total Points (Total Possible Points = 25) 25.00 Criteria #6 Total Average Score 3.25
3.0 Criteria #6 - Total Points (Total Possible 15) 9.75 Total Technical Points (Total Possible Points = 150) Minimum Threshold = 105 111.00
Grand Total Points (Total Possible = 150) 111.00
BB26-1 Subordinate Shared Appreciation Loan Program Attachment A
| Schoresheet Summary for Justification Statement.pdf |
| Scoresheet Summary |
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