INVITATION TO BID

TCB004277

DELINQUENT MUNICIPAL TAX LIENS SALES

CITY OF BRIDGEPORT

DEPARTMENT OF PUBLIC PURCHASES

999 BROAD STREET

BRIDGEPORT CT 06604

Submission Deadline:

Wednesday, July 29, 2026 by 2:00 pm

Table Of Contents

1. Introduction

2. Scope of Work

3. Submission Requirements

4. Submission Instructions

5. Evaluation and Award

6. Terms and Conditions

7. Provisions Applicable to Successful Submitter

8. Contract

9. Tax Exemption

10. Lein Information

11. Price of Delinquent Tax Liens

12. Vendor Questionnaire & Submission

Attachments:

A - 2024 DELINQUENT TAX LIENS SALE

B - General_Statutes_of_Connecticut_§12-195(h)_ (1)

1. Introduction

The City of Bridgeport seeks bids for DELINQUENT MUNICIPAL TAX LIENS SALES.

The City of Bridgeport, Connecticut (the "City") is requesting written sealed submissions from interested parties (the "Purchaser/s") for the purchase of part of the City's delinquent municipal tax liens ("Delinquent Tax Liens") primarily relating to Grand List 2024 and certain other miscellaneous tax liens pursuant to the provisions of the General Statutes of Connecticut §12-

195(h) attached as Exhibit A (the "Act"), in accordance with the terms of this invitation.

The selected awardee must meet all municipal, State and Federal practices and requirements.

1.1. City Background

Bridgeport, the most populous city in Connecticut and the fifth-most populous in New England, is situated in eastern Fairfield County at the mouth of the Pequonnock River on Long Island

Sound. With a population of 148,654 in 2020, it is 60 miles from Manhattan and 40 miles from

The Bronx, forming part of the New York metropolitan area. The city borders Trumbull to the north, Fairfield to the west, and Stratford to the east. Bridgeport is a significant part of the

Greater Bridgeport Planning Region and the Bridgeport-Stamford-Norwalk-Danbury metropolitan statistical area, the second largest in Connecticut.

Since the early 21st century, Bridgeport has seen extensive redevelopment in its downtown and other neighborhoods. Bridgeport is home to several educational institutions, including the

University of Bridgeport, Housatonic Community College, Paier College, and part of Sacred

Heart University, as well as the state's only zoo, Connecticut's Beardsley Zoo. The city is also nicknamed "Park City" for its 35 public parks, covering 1,300 acres, including two large parks.

Despite not being headquartered in the city, over a dozen Fortune 500 companies are based in the metropolitan area shared with Stamford.

Bridgeport is a culturally vibrant city with three museums, numerous parks, and significant venues like Seaside Park, the Total Mortgage Arena, and the Hartford HealthCare Amphitheater.

The Barnum Museum and Connecticut's Beardsley Zoo are notable attractions, enhancing the city's cultural and recreational appeal. Recognized for its diversity, Bridgeport is consistently ranked among the 25 most ethnically and culturally diverse cities in the United States.

2. Scope of Work

The City intends to assign a portion of its Delinquent Tax Liens to a third party in accordance with the provisions contained herein and pursuant to Title 12-195h of the Connecticut General

Statutes (C.G.S.).

The Purchaser agrees to incorporate the conditions required of them by the City in this invitation in any future sale or assignment of said Delinquent Tax Liens as authorized by the City. The provisions of this bid and all future agreements between the Purchaser and the City shall be binding upon both parties, their heirs, successors and assigns.

2.1. Additional Liens and Additional Interest

Upon mutual consent bet The City intends to assign a portion of its Delinquent Tax Liens to a third party in accordance with the provisions contained herein and pursuant to Title 12-195h of the Connecticut General Statutes (C.G.S.).

The Purchaser agrees to incorporate the conditions required of them by the City in this invitation in any future sale or assignment of said Delinquent Tax Liens as authorized by the City. The provisions of this bid and all future agreements between the Purchaser and the City shall be binding upon both parties, their heirs, successors and assigns.

ween The City and awarded vendor, the City reserves the right to add any additional Delinquent

Tax Liens to this lien assignment up until September 30, 2026. The City does not anticipate any material change to the original listing. All submitters shall agree that any and all statutory interest required to be charged by the City on all accounts listed on the Schedule shall accrue on all such accounts between the bid date and the Closing date and shall be included as part of the total amount required to be paid at Closing.

2.2. Withdrawal of Liens

The City reserves the right to withdraw any Delinquent Tax Lien from the Report prior to the date of the award. Any lien so withdrawn by the City, in accordance with this section, shall be deleted from the Report and shall be excluded altogether from the sale of the Delinquent Tax

Liens and the purchase price reduced by the proportion that such lien bears to all liens to be assigned.

Subsequent to award, further withdrawals by the City will be permitted during the interim between selection of the winning submission and compilation of the final schedule of Delinquent

Tax Liens to be assigned (the "Schedule") only in the event of an agreement between the City and the Purchaser, as defined herein, that any lien on the Report is legally unenforceable under any state or federal law or in the event that all taxes due are paid by the delinquent taxpayer prior to closing date. Any item on the report may be withdrawn in the event a suit or claim in respect of that item is filed. In the event of any further withdrawal, the purchase price shall be reduced by the proportion that such lien bears to all liens to be assigned. The Purchaser agrees to indemnify, defend, and hold harmless the City for any and all legal actions arising out of, resulting from, or related to, the assignment of liens.

Notice of the Schedule shall be confirmed by authorized signatures of both parties on the closing date, as contained in Section 4 herein, and shall be deemed final and binding. Said Schedule shall be incorporated into the form of the Assignment of Delinquent Tax Liens (the

"Assignment"). No further withdrawal of Delinquent Tax Liens from the Schedule shall be permitted except in the event that any Delinquent Tax Lien on the Schedule was incorrectly recorded by the City, in which case appropriate adjustments will be made within a reasonable time of discovery.

The amount of the lien for those taxes which have been paid in full or in part prior to closing will be adjusted by the City, if necessary, and deducted from the final aggregate price and, if paid in full, the Delinquent Tax Lien will be released and removed from the Schedule. The Purchaser's submission may be adjusted only in the event of a full or partial payment on any lien listed in the

Report.

2.3. Administration of Accounts

The Purchaser will be required to collect all accounts at its cost.

The City prefers to resolve delinquent tax collection matters through payment arrangements rather than foreclosure whenever possible. Accordingly, taxpayers shall be given an opportunity to enter into a payment arrangement before a foreclosure action is commenced. A foreclosure action should be initiated only if the taxpayer either (i) fails to enter into a payment arrangement after being afforded the opportunity to do so, or (ii) defaults on the payment arrangement by failing to make two installment payments.

The Purchaser shall provide the City with a report, monthly, which lists all accounts on the

Schedule and the status of each as to collection ("Monthly Report"). Each submission shall include an example of the Monthly Report.

2.4. Right of First Refusal for Purchase of Future Tax Liens

The Purchaser, its heirs, successors, and assigns, at their option, shall notify the City of their intent to exercise the right of first refusal for the purchase of any future tax liens on the next

2025 Grand List and subsequent Grand Lists of properties listed on the final Schedule only

("Future Tax Liens"), for consideration not less than the full amount of all taxes, interest, and fees due the City. The city will assess a 1% administrative processing fee for each subsequent assignment.

In FY2027 and all subsequent years, notice of intent to purchase said Future Tax Liens must be received by April 1st, with payment in full on said Future Tax Liens to be made within forty-five

(45) days after the City files the Lien Continuation Certificate.

In the event a Future Tax Lien is not purchased in accordance with this section, the Purchaser agrees that such Future Tax Liens, when retained by the City, shall have priority over all

Delinquent Tax Liens previously sold to the Purchaser and that the City shall retain the right to enforce any such Future Tax Liens in any manner provided by law. Any payment received by the

Purchaser of Delinquent Tax Liens must be paid over to the City in satisfaction of any such

Future Tax Liens retained by the City, until such Future Tax Liens are paid in full and released.

Liens that will be filed on the current 2024 Grand List are not considered Future Tax Liens for the purpose of this invitation and are inclusive in the amounts provided in the Report.

The terms of this invitation and all subsequent agreements between the Purchaser, its heirs, successors or assigns, and the City shall also apply to the sale of Future Tax Liens.

3. Submission Requirements

3.1. Requirements for Submissions

Each respondent shall submit a cover letter, addressed to the Purchasing Agent of the City of

Bridgeport, signed by an authorized agent of the Purchaser, which provides an overview of the

Purchaser's submission, as well as the name, title and phone number of the person to whom the

City may direct questions concerning the submission. The letter should also include a statement by the Purchaser accepting all terms and conditions contained in this invitation. The submission shall include as a minimum:

a. Title Page

b. Table of Contents

c. Transmittal Letter

d. Firm Qualifications

e. Individual Staff Qualifications

f. Disclosure of Principals

g. Similar Engagements with Other Government Entities

The City shall provide the Purchaser with the name of the taxpayer, grand list number, property address and amount due and such information shall be provided in an excel spreadsheet furnished through E-Mail. Each submission shall include an aggregate amount for the liens listed on the Report relating to the 2024 Grand List and shall include the amount necessary to reimburse the City for administrative and legal costs as set forth in the Report. All submissions will be considered final. The City is soliciting submissions solely for the full amount of taxes, interest, and fees due the City at time of Closing.

The City is requiring a submission on at least one of the following two separate options from each submitter: The first submission (Submission 1) should be for the best price the submitter is willing to pay for all accounts listed with this invitation, stated in both total dollars and in percentage terms. The second submission (Submission 2) should provide a list all accounts for which the submitter is willing to pay a premium for all taxes, interest and lien fees, and the submission for such list stated in both total dollars and in percentage terms.

Submitters may submit on at least one, and if desired, on both submission options. The

City shall determine the winning submitter or submitters based upon a dollar and percentage value comparison for each category of submission made by each submitter.

Should the City decide, based upon the value comparison, that the winning submitter choose Submission 2 option with fewer than 100% of the accounts listed, in lieu of a

Submission 1 option, all remaining tax lien accounts not opted for by the winning Option 2 submitter shall be offered to whomever the City determines is the next highest responsive submitter based upon either submission option.

Each submission shall be accompanied by a certified check, acceptable to the City, in the amount of $50,000.00, payable to the “City of Bridgeport”. The check shall be returned to each submitter following the award of the submission to the successful submitter.

The submission must specify the amount being submitted for the outstanding liens in absolute dollars specifying the tax amount and the percentage that the submission represents relative to the total amounts being offered for assignment. If a premium is being submitting which causes the purchase price to exceed the total dollars offered for assignment, it should be detailed separately.

Each submission shall identify officers or agents of the Purchaser who will be responsible for concluding this transaction with the City and include information pertinent to an evaluation by the City that the Purchaser has the requisite experience, financial capacity, skills and qualifications to conclude its purchase of the Delinquent Tax Liens, including two years financial statements.

Each submission shall also address the scope of administrative support the Purchaser will have in place to facilitate the collection, execution, payment, accounting, allocation, distribution, release and recording of release assigned Delinquent Tax Liens and Future Tax Liens.

Each submission shall include a description of the level of maintenance that will be provided to those properties to which the purchaser takes title.

The Purchaser will be required to include with the Assignment appropriate representation to the effect that there is no legal disability or litigation pending or threatened against the Purchaser which would adversely affect its performance of any duties or obligations incurred pursuant to this transaction.

The City reserves the right to require such additional representations and warranties of the selected Purchaser as it reasonably deems necessary.

The City retains the right to withdraw, extend, re-offer or amend this invitation at any time or to reject any or all submissions and to withdraw from the sale any Delinquent Tax Liens, all at its sole and absolute discretion. The City will not be liable for any costs incurred in the preparation of a response to this invitation.

Non-Discrimination: No person shall be denied or subjected to discrimination on account of any services, or activities made possible by or resulting from the agreement on the grounds of sex, race, color, creed, national origin, age (except minimum age and retirement provision), marital status or the presence of this agreement and shall be grounds for cancellation, termination or suspension in whole or in part of the agreement by the City contracts. The proposer shall at all times in the submission and contract process comply with applicable City, State and Federal anti-discrimination laws, rules, regulations and requirements thereof.

4. Submission Instructions

4.1. Submission Instructions

All submissions must be submitted via the procurement portal.

Special Submission Circumstances: The procurement portal, OpenGov, is the electronic bid submission process of choice for City of Bridgeport purchases. In the event, a bidder is unable to submit electronically through the city’s procurement portal, bids can be submitted, by mail, as outlined below. Non-electronic submissions are accepted on an exception only basis.

4.2. Contacting the City of Bridgeport

The exclusive means by which all prospective respondents may obtain ITB packages, direct inquires, request and receive addenda and supplemental information, and submit proposals shall be through the City of Bridgeport’s bidding platform.

The City of Bridgeport has made it possible for vendors to view our solicitations, download bid packages and ask questions, free of charge.

Instructions to do so are as follows:

1. Go to the procurement portal, OpenGov https://procurement.opengov.com/portal/bridgeportct

2. Click on any bid you see. It will take you that bid’s page.

3. On the right-hand side of the page, click on Register now for free!

4. After you register, you'll be able to view/download or ask questions on any bid you have interest in.

If you have any trouble registering, please contact OpenGov using the chat feature or send an email to procurement-support@opengov.com

General Information: All inquiries regarding this bid must be presented in writing and may be posted directly on the procurement portal, OpenGov. All answers will be published in the form of addenda on the procurement portal.

Addenda Notification: Respondents are required to register on the procurement portal, OpenGov. Once the respondent has completed registration, they will receive addenda notifications in their email. Ultimately, it is the sole responsibility of each respondent to periodically check the site for any addenda.

Late Submissions: The City of Bridgeport will not assume responsibility if a submission is misdirected, or its delivery is delayed. The city will not accept late submission. It shall be the sole responsibility of the submitter to pay for any type of delivery service charge, and to see that the Office of the Purchasing Agent receives his/her submission on time. The clock used shall be the Purchasing Agent’s official date and time stamp clock. The City does not assume financial responsibility for late deliveries by the U.S. Postal System or any other delivery service.

4.3. Electronic Submission Instructions

THIS METHOD IS PREFERRED.

https://procurement.opengov.com/portal/bridgeportct mailto:procurement-support@opengov.com

The City of Bridgeport is accepting electronic bid submissions. Bidders shall create a FREE account with OpenGov Procurement by signing up at https://procurement.opengov.com/signup.

Once you have completed account registration, browse back to this page, click on "Submit

Response", and follow the instructions to submit the electronic bid.

4.4. Paper Submission Instructions

SPECIAL SUBMISSION CIRCUMSTANCES ONLY

SEALED ONE (1) ORIGINAL, THREE (3) COPIES AND ONE (1) ELECTRONIC VIA

THUMBDRIVE MUST BE SUBMITTED.

Bid Submission: Sealed submissions must be received and time-stamped by the Department of

Public Purchases prior to ITB closing time. No submission received after closing time will be considered. The opening will be in the City of Bridgeport Department of Public Purchases’

Conference Room. To ensure proper handling and avoid misdirected delivery, please mark your

ITB envelope as follows:

TCB004277 DELINQUENT MUNICIPAL TAX LIENS SALES

If your envelope is not marked accordingly, the City will not assume responsibility for late delivery or deliver to the incorrect location.

Mail your submissions to:

Jennifer Krajnak City of Bridgeport Department of Public Purchases 2nd floor, 999 Broad Street Bridgeport, CT 06604

ITB submissions are due:

Wednesday, July 29, 2026 no later than 2:00 pm Eastern Standard Time (EST)

Late Submissions: The City of Bridgeport will not assume responsibility if a submission is misdirected, or its delivery is delayed. The city will not accept late submission. It shall be the sole responsibility of the submitter to pay for any type of delivery service charge, and to see that the Office of the Purchasing Agent receives his/her submission on time. The clock used shall be the Purchasing Agent’s official date and time stamp clock. The City does not assume financial responsibility for late deliveries by the U.S. Postal System or any other delivery service.

NOTE: IF THE MARGARET E. MORTON GOVERNMENT CENTER, 999 BROAD STREET

BRIDGEPORT, CT IS CLOSED FOR ANY UNFORESEEN EVENT, BIDS WILL BE DUE AT

THE SAME TIME ON THE NEXT BUSINESS DAY THAT THE MARGARET E. MORTON

GOVERNMENT CENTER IS OPEN.

4.5. Submission Compliance

https://procurement.opengov.com/signup

Certificates of Insurance: Certificates of insurance will be required from the awarded contractor prior to the commencement of any work and shall be furnished to the Department of

Public Purchases, Margaret E. Morton Government Center, Second Floor, 999 Broad Street, Bridgeport, Connecticut 06604 and must be shown to the City of Bridgeport as an additional insured with thirty (30) days’ notice for cancellation or non-renewal of policy. A copy of the endorsement insurance will also be required for this project.

No Conflicts | Disclosure: the awarded contractor must accurately complete and submit the No

Conflicts/Disclosure Form when it receives a Notice of Intent to Award. Failure to submit the No

Conflicts within three (3) business days of receipt of the Notice of Intent may result in the loss of the award.

Addendums: all bidders shall check the procurement portal regularly to see if any addendums are issued.

Contract Award Requirements: the contract award will require that the successful will require that the successful vendor have a valid SAM, DUNS, CT, and Federal Tax ID numbers prior to commencing work.

4.6. Reservation of Rights

This solicitation is for an “Invitation to Bid (ITB) only”. This invitation to bid is not to be construed as a specific proposal or an offer to buy any products or services. Notwithstanding anything else herein to the contrary, the City expressly reserves all rights in its sole discretion and in the best interests of the City at any time prior to the selection of a preferred respondent and purchase order:

Bid Rejection: The City of Bridgeport reserves the right to reject any and all bids in whole or in part or to accept any bid, in its sole discretion if doing so deemed to be in the best interest of the

City of Bridgeport. This includes the right to reject any or all bids or to decline to make an award. Further, the City of Bridgeport reserves the right to make an award to more than one bidder or make awards not based solely on low bid when time is of the essence.

Expenses: The City shall not be responsible for and/or shall not pay any costs associated with the preparation, submission, or presentation of any submission, or costs incurred by the responding firms during the interview and negotiations phase of the solicitation process

Information and Materials: Any information or materials submitted to this ITB shall become the property of the City of Bridgeport and will not be returned. All submitted materials will be available for public review.

MSDS: The City of Bridgeport may request MSDS (Material Safety Data Sheets) or additional product information and literature or samples on any brands or products proposed as equivalents to those listed herein prior to award or to be included with shipment.

Tax Delinquency: The City of Bridgeport reserves the right to ensure bidders are not delinquent on any City real estate and personal property taxes, ate the time of bid opening.

Purchase Order: No work of deliveries shall be performed under the contract award until a

Purchase Order has been issued by the Purchasing Department.

Contract Award: The City of Bridgeport reserves the right to award a purchase order to the responsible bidder whose bid, conforming to the solicitation, will be most advantageous to the

City of Bridgeport in terms of cost. Other factors such as lead time, equipment, availability and other factors specified in this solicitation may be considered.

Bid Dates: The City of Bridgeport reserves the right to modify any dates other terms of the ITB upon posting notice. Please keep in mind dates are estimates only and are subject to change.

Liability: The City of Bridgeport is not liable to any Respondent for damages of any type, however arising.

Title: vendors are prohibited from assigning, transferring, conveying, subletting, or otherwise disposing of the ultimate contract award or its rights, title or interest therein or its power to execute such agreement to any other person, company or corporation without the prior consent and approval in writing by the City.

Taxes: bidders should not include any taxes in their quotation for which the city is not liable. The City of Bridgeport will issue tax-exempt certificates covering the work upon request.

5. Evaluation and Award

5.1. Evaluation and Award

The City may award the contract to the Respondent whose submission is deemed to be in the best financial interests of the City.

As a guaranty of good faith, the Purchaser shall, at the time of award, tender a certified or cashier’s check drawn upon a solvent bank or trust company payable to the order of the "City of

Bridgeport", in the amount of $150,000.00, to be retained as a non-refundable partial payment for the Delinquent Tax Liens on the final Schedule.

The parties will execute and deliver the Assignment and all other closing documents required by the City on the Closing Date in return for the aggregate submission for the Delinquent Tax Liens, as adjusted in accordance with Section 2 hereof and as adjusted by the payment of any liens prior to closing (the "Purchase Price"). The submitters agree that all statutory interest shall be charged to all accounts on the Schedule between the invitation opening date and the closing date and shall accrue and shall be included in the total adjusted amount to be paid at closing, pursuant to

Section 2.

The Purchase Price will be paid in Federal Wire Transfer to the City's account as directed or by certified, immediately negotiable, check made payable to the "Tax Collector - City of

Bridgeport", on the Closing Date.

It is anticipated that a final award will be made no later than July 31, 2026, and respondents must agree to hold firm until both date of award and final Closing date.

It is expected that the Assignment of Delinquent Tax Liens and payment in full of the Purchase

Price in accordance with this Section will be no earlier than September 1, 2026 and no later than

September 30, 2026

6. Terms and Conditions

All City of Bridgeport contracture terms, conditions, and requirements apply.

6.1. Terms and Conditions

The Purchaser shall be responsible for the due diligence of evaluating any risk that may be associated with any Delinquent Tax Lien or any property listed on the Report. The City makes no representations or warranties as to the condition of property, title of any property or as to the collectability of any Delinquent Tax Lien on the Report. All property is sold "as is", subject to any and all liens, Choate liens, inchoate liens and any legal interest as recorded on the City land records.

The Purchaser may retain any firm, partnership, corporation or other entity ("Collectors") to collect any and all of Delinquent Tax Liens and Future Tax Liens assigned by the City. Such

Collector shall provide the City with any and all information required by the Purchaser under this invitation.

The Purchaser agrees to comply with all relevant state and federal laws and regulations pertaining to collection practices and procedures, including, but not limited to, provisions of the

Connecticut General Statutes governing tax collection and the statutory rate of interest.

Purchaser agrees to comply with the terms set within Section Two (Scope of Services) herein.

6.2. Errors and Omissions

Once a response is submitted, the City of Bridgeport may consider requests by any contractor to correct errors or omissions but shall retain sole discretionary authority to determine the outcome of such a request.

6.3. Collusion

By offering a response to this ITB the supplier certifies that no attempt has been made or will be made by the consultant to induce any other person or firm to submit or not to submit a proposal for the purpose of restricting competition. All persons interested in this project, principal or principals being named therein, and no other person have an interest in this project or in the

Agreement which they may participate in. No person or agency has been employed or retained to solicit or secure this Agreement upon an agreement or understanding for a commission, percentage, brokerage, or contingent fee, excepting legitimate employees or established commercial agencies maintained by the consultant for the purpose of doing business. All firms interested in this project (including the firm's employees, representatives, agents, lobbyists, attorneys and subconsultants) will refrain, under penalty of disqualification, from direct or indirect contact for the purpose of influencing the selection or creating bias in the selection process with any person who may play a part in the selection process, including the evaluation panel and other administrative staff. The policy is intended to create a level playing field for all potential firms; assure that contract decisions are made in public and to protect the integrity of the selection process.

6.4. Suspension and Debarment

The City will not participate in contracts with parties that have been debarred, suspended or excluded from Federal assistance programs per 2 CFR part 180 and part 1532 and 40 CFR part

31.35. Further, the respondent is required to verify that the respondent, or its principals, as defined at 49 CFR 19.995, or affiliates, as defined at 49 CFR 29.905, are excluded or disqualified as defined at 49 CFR 29.40 and 29.945.

The respondent is required to comply with 49 CFR 29, Subpart C and must include the requirement to comply with 49 CFR 29, Subpart C in any lower-tier covered transaction it participates in., By signing and submitting its bid or proposal, the respondent or proposer certifies as follow:

The certification in this clause is a material representation of fact relied upon by the City if it is later determined that the respondent or proposer knowingly rendered an erroneous certification, in addition to remedies available to the City the Federal Government may pursue available remedies, including but not limited to suspension and/or debarment. The respondent or proser agrees to comply with the requirements of 49 CFR 29, Subpart C while this offer is valid and throughout the period of any contract that may arise from this offer. The respondent or proposer further agrees to include a provision requiring such compliance in its lower-tier cover transactions.

7. Provisions Applicable to Successful Submitter

A. Payment of Purchase Price. The terms and conditions relating to the manner of payment of the purchase price shall be determined by the Seller. Notwithstanding any such payment mechanism elected by the Seller, the Purchaser shall be required to fund the entire purchase price at closing by federal wire transfer into an account or accounts designated by the Seller. The

Closing payment date shall be chosen by the City for this lien assignment agreement (Closing

Date) and such Closing Date for this lien sale shall be within the month of September

2026. Following the Closing Date, all interest and penalties shall be for the account of the

Purchaser collected on account of the purchase of the tax liens.

B. Abandoned Properties. Purchaser will agree to maintain any and all abandoned properties which Purchaser or its affiliate acquires through the exercise of foreclosure of any particular tax lien. Such maintenance shall be in accordance with reasonable property management techniques and the Purchaser shall be required to designate a property manager with an address in the State of Connecticut to manage such properties.

C. Servicing. Purchaser shall be required to demonstrate that it has the ability and experience to provide comprehensive collection and administration of the tax liens. Such ability and experience shall include: (a) satisfactory accounting procedures; (b) demonstrated experience in other municipalities involving comprehensive responsibility for collection and administration of tax liens secured by real estate; and (c) such other experience as the Seller deems appropriate.

D. Modification of Invitation. The City reserves the right to modify any or all provisions of this invitation.

E. Priority of Future Tax Liens. Purchaser and its successors and assigns will agree to subordinate the priority of its tax liens to future city real property tax liens in the event that

Purchaser is in violation of its obligations under the Agreement of Purchase and Sale or in the event that the term of such Agreement is not extended beyond the initial term plus all renewal options available to the Purchaser.

F. Prohibitions on Assignment. With respect to the tax liens which the Purchaser purchases pursuant to this invitation, the Purchaser will agree that such tax liens will be held for its own account and will not sell, transfer, assign or convey such tax liens to any other person or entity and will agree not to sell or securitize such tax liens unless prior consent to such a sale or transfer is obtained from the Seller; provided, however, notwithstanding the foregoing, the Purchaser shall be entitled to conditionally pledge a security interest in such tax liens in order to finance the

Purchaser's acquisition of such tax liens provided that such pledge is to an affiliate of

Purchaser. Furthermore, nothing herein shall prohibit the Purchaser from designating an affiliate to take title to properties acquired through foreclosure or deed in lieu of foreclosure.

8. Contract

8.1. Contract

Any successful submission shall be subject to the signing and certified filing of a definitive Delinquent Lien

Assignment Agreement within five days of the Closing date satisfactory in all respects to the successful submitter and the City incorporating the provisions of this invitation, such other provisions as the City may reasonably require and the following specific representations and undertaking of the Purchaser, its heirs, successors, and assigns:

A. Be duly organized and in good standing under the laws of the State of Connecticut, or, if organized in another state, then qualified to do business in the State of Connecticut.

B. Authorize the Secretary of State to accept service on its behalf.

C. Represent that the transactions of assignment or resale, if any, shall be in compliance with all appropriate state and federal securities laws, or that such transactions shall be exempt from such securities laws.

D. Agree upon execution of the Delinquent Lien Assignment Agreement to indemnify and hold harmless the

City, its employees, agents and officials, including any of the foregoing sued as individuals, from any lawsuit, counterclaim, or administrative proceeding seeking money damages, refund or discharge of taxes, equitable or other relief of any kind, arising from or in connection with (i) the exercise of powers and the authority granted by this invitation over the Delinquent Tax Liens, (ii) any collection efforts by the Purchaser, (iii) the institution of foreclosure of any of the Delinquent Tax Liens, (iv) any violation or purported violation of any state or federal securities or blue sky law, statute, rule or regulation or, (v) any other acts of Purchaser (including its agent and assigns) to collect amounts secured by the Delinquent

Tax Liens or any other transaction contemplated by this bid. Indemnification shall include payment of any judgment, legal fees, and costs.

E. In the event that the Purchaser commences a foreclosure action to enforce any delinquent Tax Lien, it shall give notice to the City in the same manner as required to any interest in any other foreclosure action in order to afford the City adequate opportunity to take any necessary or appropriate action to preserve its interest therein. The Purchaser further agrees to indemnify the City for the loss of any interest the City would otherwise have in its unassigned Future Tax Liens, but for the foreclosure action. In no event shall the Purchaser name the City as a defendant in such action to foreclose any subsequent tax liens. However, the Purchaser will agree to name the Water

Pollution Control Authority as an additional plaintiff and will foreclose Water Pollution Control

Authority Liens. The purchaser shall allow the City Attorney’s Office to file an appearance in addition and allow the City Attorney’s Office to move for a deficiency judgment on behalf of any unpaid Water Pollution Control Authority Lien which is unsatisfied.

F. Keep on file with the Tax Collector and Town Clerk a corporate, partnership, or LLC resolution of the

Purchaser which sets forth the current address of the Purchaser for payment purposes. Such resolution shall (if a corporate resolution) be accompanied by a Secretary’s certificate and seal, or (if a partnership or LLC) certification containing the notarized signatures of all partners or members of an LLC.

9. Tax Exemption

9.1. Tax Exemption

The City Federal Tax Exemption number is 06-6001865. The City is exempt from State Sales

Tax under State General Statutes Chapter 219, Section 12-412 Subsection A. No exemption certificates are required and none will be issued.

10. Lein Information

10.1. Lein Information

The listing of liened properties for the Sale is available from:

Office of the Tax Collector City of Bridgeport 45 Lyon Terrace Room 123 Bridgeport, CT 06604

To the best knowledge of the City, any properties which fall into the following categories have been eliminated from the list.

• Tax Abatement Requests

• EPA Liens

• City Foreclosure

• City Payment Plan

• Pending Tax Appeals

• Elderly Parcels

The City does not warrant that every parcel so conditioned has been removed, but has performed to the best of our information and belief. A sample page is attached to the cover letter for format purposes.

11. Price of Delinquent Tax Liens

BID-A (FULL POOL BID)

Lien List listed as Attachment A.

Line Item Description Unit of Measure Unit Cost

1 Redemptive Value Cost

2 Redemptive Value Percentage

BID-B (PARTIAL POOL - PAR+ BID)

Lien List listed as Attachment A

Line Item Description Unit of Measure Unit Cost

1 Redemptive Value Cost

2 Redemptive Value Percentage

12. Vendor Questionnaire & Submission

1. Federal I.D. Number or Social Security Number:*

*Response required

2. No Conflicts-Disclosure Form*

Please download the below documents, complete, and upload.

• NO_CONFLICTS_FORM_10-2018_a...

*Response required

3. Additional Vendor Documents (optional)

Vendor can upload additional documents relevant to solicitation.

https://government-project.s3.us-west-2.amazonaws.com/280090/a9ac8499-da9f-4611-9972-aa1314d28031_NO_CONFLICTS_FORM_10-2018_and_02-2025.pdf