450 Capitol Avenue Hartford, CT 06106 Page 1 of 31

Request for Proposals (RFP)

RFP Name: Connecticut Career Accelerator Program: Program Administration RFP #: 27ECD2530b

OWS is soliciting proposals to implement the Connecticut Career Accelerator Program: a program designed to support individual learners pursuing training to obtain credentials and workforce training of value through Outcomes-Based Loans.

Please see the attached materials for additional proposal information.

Proposals Deadline: Monday, November 23, 2026, 5pm EST

Special Submission Instructions: All proposals must be submitted to the Agency Official Contact. No proposals submitted via CTSource will be considered.

The Agency is an Equal Opportunity/Affirmative Action Employer.

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TABLE OF CONTENTS

1) Overview of OWS ......................................................................................................................................................................Page 3

2) Overview of the Request for Proposal ......................................................................................................................Page 3

3) Service Provider and Scope of Work .........................................................................................................................Page 4

4) Funding Source & Timeline ..............................................................................................................................................Page 9

5) Eligibility & Expectations of Entities .............................................................................................................................Page 10

6) Number of Awards .................................................................................................................................................................Page 10

7) Contact & Submission Information ............................................................................................................................Page 10

8) Proposal Information ............................................................................................................................................................Page 13

9) Budget Proposal .......................................................................................................................................................................Page 17

10) Other Documents .................................................................................................................................................................Page 18

11) Evaluation, Contract Selection, and Execution ...............................................................................................Page 19

12) Rights Reserved by the State of Connecticut ..................................................................................................Page 21

13) Statutory and Regulatory Compliance ................................................................................................................Page 22

EXHIBIT A: Acronyms & Definitions......................................................................................................................................Page 26

EXHIBIT B: Documents Required of Proposer ..............................................................................................................Page 29

EXHIBIT C: Cover Page & Acknowledgement .............................................................................................................Page 30

EXHIBIT D: Statement of Assurances ................................................................................................................................Page 31

EXHIBIT E: CT CAP RFP Budget Template ................... Please see downloadable document on CTSource

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PROPOSAL INFORMATION

1) OVERVIEW OF OWS

The Office of Workforce Strategy (OWS), created under Governor Lamont’s leadership, provides strategic direction and coordinates workforce development policy and programming among state agencies, education institutions and industry throughout the state. Its primary goal is to ensure that all state residents have equitable access to quality jobs, and all Connecticut businesses have the talent they need to innovate and grow. OWS is an executive branch agency that provides staff to the Governor’s Workforce Council (GWC).

OWS is responsible for developing the Connecticut Career Accelerator Program (CT CAP), pursuant to Conn. Gen. Stat. § 4-124mm (as amended by Public Act 23-75 and Public Act 26- 85). Under these legislative mandates, OWS has designed CT CAP to focus on training individuals for high-need, living wage jobs in Connecticut with the advice of a competitively procured consultant. OWS now seeks an organization(s) to administer CT CAP across the following service areas: (1) Program Management and (2) Origination and Servicing, with implementation of CT CAP to begin by July 1, 2027.

2) OVERVIEW OF THE REQUEST FOR PROPOSAL

Through this Request for Proposals (RFP), OWS is sourcing an organization(s) to lead the implementation of CT CAP across the following service areas: (1) Program Management and (2) Origination and Servicing.

CT CAP will provide Outcomes-Based Loans (OBLs) and living stipends to individual learners pursuing training and thereby enable them to obtain credentials and workforce training of value.

An OBL is a specialized type of loan designed to protect borrowers. Such loans tie repayment obligations to the achievement of predefined, measurable outcomes such as program completion or post-program earnings. OBLs also generally include low or no interest, no up-front fees, no collections, no cosigners, and no required minimum credit score. Details on the OBLs for CT CAP are provided below in Section 3.

Through legislative requirements and landscaping and research, OWS has identified the following priority career pathways: commercial truck driving (CDL), licensed practical nursing (LPN) training, and paramedic training. OWS has also identified eligible training providers and will have provided a preliminary term sheet to Selected Training Providers before the start of the contract period. Such term sheets will describe the terms under which learners enrolled with the Selected Training Providers can apply for and receive an OBL to cover costs related to training.

Upon onboarding, the Program Manager will draft and execute legal agreements with the Selected Training Providers. The Originator and Servicer will work side-by-side with the Program Manager to originate OBLs for students enrolled in vetted programs at Selected Training

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Providers and service those loans. The Program Manager will also be responsible for establishing project planning and developing operational processes and core documentation for the CT CAP Fund Vehicle (the Fund). The Program Manager shall additionally manage living stipend disbursements, outcomes monitoring, and periodic reporting to OWS.

3) SERVICE PROVIDERS AND SCOPE OF WORK

a) Structure of Scope of Services The scope of services for CT CAP is organized across two service areas: (1) Program Management; and (2) Origination and Servicing. Respondents to this RFP are welcome to submit proposals for one or both service areas. For coordination purposes, OWS prefers to work with a single proposer across both service areas (or a single proposer who has established relationships with relevant subcontractors to undertake both service areas). However, OWS may instead select a Program Manager under one proposal and an Originator/Servicer under a separate proposal, who together would administer CT CAP as described herein.

The contractor(s) selected will be referred to as the Program Manager and the Originator/Servicer, respectively. The Program Manager and the Originator/Servicer shall be subject to all applicable federal and state student lending laws, regulations, and policies.

If a Program Manager and a separate Originator/Servicer are selected for this work, the Program Manager will serve as the lead contractor for CT CAP and may be asked to subcontract with the selected Originator/Servicer. The Program Manager will be responsible for coordinating the work among the service areas so that data, documentation and operational processes can flow effectively across all contractors as needed. Please note that while this is the anticipated structure, OWS is open to considering alternative contracting structures in the proposals submitted.

b) Parameters of the anticipated outcomes-based loans OBLs for CT CAP are designed to offer learner-friendly terms for learners enrolled in eligible short-term training programs. Depending upon the occupational area, OBLs will cover tuition and fees for training programs and/or living expenses for enrolled learners. OBLs will carry 0% interest and no up-front fees, and because they are not credit-based, they will not require cosigners or co-borrowers.

OBL repayment schedules will be based on a borrower’s income following the completion of a Selected Training Program. Borrowers who earn less than a defined minimum income threshold will be eligible to apply for income-based deferment, ensuring repayment obligations remain contingent on workforce outcomes and financial capacity. In addition to OBLs, borrowers may also receive nonrepayable living stipends, which shall be coordinated by the Program Manager and are described further in the Program Management section below.

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OWS estimates that a total of ~400 outcome-based loans will be disbursed during the deployment period of three years across all three career pathways. Loans will have a grace period of 1-3 months and a 36-60-month repayment period, depending on loan size. The average loan size is estimated to be $8,000, with some loans closer to $4,000 and most closer to $12,000.

The parameters of the CT CAP program are subject to change at the discretion of OWS.

c) Service Area 1: Program Management OWS seeks a Program Manager to lead the overall implementation of CT CAP and coordinate the work of both service areas. The Program Manager should have an extensive track record in managing and deploying capital for a student lending program and have experience managing borrower and training provider relationships. Prior experience with managing public funding is also required.

1. Creating and Administering the Fund Vehicle The Program Manager shall establish and administer the Fund, which shall be a standalone legal entity segregated from the Program Manager’s other assets and financed by deposits from the State of Connecticut, and designated to own and hold the OBLs. Starting in 2027 and continuing for the next 5 years, the State will grant the Fund up to $4,840,000, which must be used to implement CT CAP and cover all Fund expenses. The Program Manager shall ensure the Fund can receive such deposits within thirty (30) calendar days of executing the contract with OWS.

The Program Manager shall establish and maintain a governance structure for CT CAP, including a recurrent meeting to review Fund performance, capital deployment, and any material risks or compliance issues. OWS shall have final approval over all activities of CT CAP and will exercise this oversight through the governance structure put in place. The Program Manager’s ongoing management of the Fund shall be subject to the oversight of OWS and shall include but not be limited to managing and tracking deposits to the Fund; tracking outbound loans and stipends and inbound repayments from borrowers based on information provided by the Originator/Servicer; and ensuring accurate reporting and accounting of all capital.

2. Deploying Capital to Borrowers The Program Manager shall manage the deployment of Fund capital to finance OBLs for multiple cohorts of borrowers. In addition to OBLs, CT CAP may offer nonrepayable living stipends to help student borrowers successfully persist through their training program. The Program Manager would be responsible for ensuring stipends are disbursed to eligible students who opt-in to receive the funds. The Fund shall redeploy repaid OBL amounts to finance future OBLs for future cohorts of learners.

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3. Engagement with Selected Training Providers

Pending approval by OWS, the Program Manager will enter into contracts with the Selected Training Providers setting forth the goals and expectations they must meet to remain a Selected Training Provider. The Program Manager shall maintain an ongoing working relationship with each Selected Training Provider, including conducting ongoing oversight;

coordinating the execution and maintenance of legal agreements; setting up and implementing a system for tracking outcomes provided by the Selected Training Providers;

serving as the primary point of contact; and monitoring each Selected Provider's compliance with CT CAP. The Program Manager may, in coordination with OWS, also identify and onboard additional training providers if needed.

4. Engagement with Employers

In collaboration with OWS and Selected Training Providers, the Program Manager may provide support in formalizing partnerships with employers to establish job placement pathways for program completers across the priority sectors. Where possible, this may also include identifying employer partners willing to assist with a learner’s OBL repayment obligation.

5. Recruiting Borrowers The Program Manager shall provide guidance to Selected Training Providers for identifying learners who may be eligible to participate in CT CAP. In consultation with OWS, Training Provider, and Originator/Servicer, the Program Manager shall assemble the OBL eligibility criteria that learners must meet to qualify for an outcomes-based loan. The Program Manager shall also provide standardized guidance to Selected Training Providers regarding how to responsibly inform learners interested in CT CAP OBLs about the lending terms, including consumer protections and borrowers’ rights and responsibilities. The Program Manager may be asked by OWS to engage in marketing CT CAP, in partnership with and led by Selected Training Providers, Career ConneCT, workforce development boards, and other state entities.

6. Managing the Fund for its Lifespan The Program Manager shall manage the Fund on an ongoing basis, including measurement and reporting of CT CAP performance, management and redeployment of Fund capital, management of Fund residuals, and planning for the eventual sunset of the Fund, as follows:

• Performance Measurement and Reporting. The Program Manager shall track and report to OWS on Fund and CT CAP performance on an ongoing basis using data collected by the Originator and the Servicer. At a minimum, performance reports should include: OBL origination volume; repayment, default, and forbearance rates; borrower demographics (such as zip code, age, gender, income, employment status, ethnicity, etc.); and completion and employment placement outcomes for borrowers.

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• Management of Fund Residuals. The Program Manager shall develop, in consultation with OWS, a policy for managing OBL repayments that can be recycled and redeployed to new borrowers.

• Fund Sunset and Wind-Down. The Program Manager shall develop, in consultation with OWS, a wind-down plan addressing the orderly conclusion of the Fund and the steps required for Fund dissolution. This shall include disposition of repaid residuals that can no longer be recycled or redeployed to new borrowers.

• Independent Audit. The Program Manager may be required to engage an independent auditor to audit the Fund on an annual basis. The Program Manager should reference the State Single Audit Act to determine if they are subject to an audit: Chapter 55b - Single Audits and Program-Specific Audits for Recipients of State Financial Assistance.

Completed audits shall be submitted to the Connecticut Office of Policy and Management - Electronic Audit Reporting System no later than six months after the end of the audit period.

d) Service Area 2: Origination and Servicing The Originator/Servicer shall be responsible for origination and servicing of the OBLs, subject to all federal and state lending laws, regulations and policies. The selected Originator/Servicer may select to perform these functions directly or through a subcontractor, in accordance with the Use of Subcontractors section below.

In its capacity as originator, the Originator/Servicer shall screen individual applicants to confirm they meet the OBL eligibility criteria. The Originator/Servicer will also be responsible for drafting the application, promissory note, and all required disclosures; the form of which documents shall be subject to approval by OWS. The Originator/Servicer shall offer and approve the OBLs and shall disburse OBL funds to borrowers.

In its capacity as servicer, the Originator/Servicer shall service the OBLs following disbursement and perform all repayment activities including monitoring repayment, collecting scheduled repayments, default aversion activities, incentives to improve repayment compliance, and administering annual certification of income to determine each borrower’s income-based repayment amount for the subsequent year. OWS intends that the Originator/Servicer will engage in little to no formal collections activities, nor shall engage third-party entities to collect overdue balances or litigate with borrowers.

The Originator/Servicer and any subcontractor engaged to perform servicing functions must be licensed by the Connecticut Department of Banking as a student loan servicer pursuant to Connecticut General Statutes §§ 36a-846 to 36a-856 and shall be subject to periodic management reviews and reporting requirements by OWS to ensure compliance with all applicable federal and State lending laws, regulations, and policies, as well as with best practices for borrower protection standards in servicing student loans. Failure to comply with these laws, regulations, policies, and best practices shall subject the Originator/Servicer to https://www.cga.ct.gov/current/pub/chap_055b.htm https://www.cga.ct.gov/current/pub/chap_055b.htm https://www.cga.ct.gov/current/pub/chap_055b.htm https://ears.opm.ct.gov/ https://ears.opm.ct.gov/ https://ears.opm.ct.gov/

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e) Requirements Applicable to Both Service Areas:

• Insurance and Data Security: Each contractor awarded a service area shall maintain adequate, industry standard insurance coverage and shall implement, or demonstrate existing, data security policies and practices commensurate with the sensitivity of the personally identifiable information (PII) handled during the course of program execution.

• Use of Subcontractors: An organization awarded a service area may, at its discretion, perform all of the functions of a given service area directly or engage one or more subcontractors. Any respondent proposing to deliver a given service area may thus propose a subcontractor to deliver the remaining service area. For example, a respondent proposing to directly deliver program management services may include a subcontractor(s) to provide origination and servicing components of this RFP. The contractor engaging a subcontractor remains fully and solely responsible to OWS for the performance of any subcontractor, including compliance with all applicable federal and State lending laws, regulations, and policies, and for any deliverables, reporting, and outcomes described in this RFP or the resulting contract. The use of a subcontractor shall not relieve the contractor of any obligation, liability, or fiduciary duty under its contract.

f) Deliverables:

1. Fund Formation (Program Manager): Executed fund formation documents and documented governance and investment policy statements — completed prior to first OBL disbursement, by July 1, 2027.

2. Selected Training Provider Agreements (Program Manager): Fully executed legal agreements with each Selected Training Provider – beginning after fund formation and concluded within six months.

3. OBL Origination and Disbursements (Originator/Servicer): Borrower application form and promissory note template – beginning after fund formation and concluded within six months.

4. OBL Servicing and Borrower Support (Originator/Servicer): Borrower communication templates and correspondence records – beginning after OBL origination and disbursement.

5. Outcomes tracking and KPI monitoring (Program Manager, with data from the Originator/Servicer): Monthly status reports and KPI dashboard, covering, at a minimum, borrower demographics, enrollment, completion, placement with salary, repayment, compliance and deferment rates – beginning after OBL origination and disbursement.

6. Financial and outcomes reporting (Program Manager, with data from the Originator/Servicer): Quarterly financial reports (balance sheet, income statement, fund activity summary) and monthly outcomes reports submitted to OWS, with audit-ready supporting documentation maintained throughout – beginning after OBL origination and disbursement.

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7. Fund recyclability and wind-down (Program Manager): Written capital recycling policy and, at fund close, a wind-down plan documenting final OBL disposition and fund dissolution steps – beginning after fund disbursements have occurred for 3 years.

4) FUNDING SOURCE & TIMELINE

a) Source. The funding source for this program is public capital directed to OWS by the State of

Connecticut’s Bond Commission.

b) Use of Funds. Funding provided through this contract are to be used for (1) OBLs to cover related tuition, fees or living expenses for allowable training programs as approved by OWS;

(2) living stipends for borrowers as described in Section 3, and (3) all costs related to Fund management, including Program Manager and Originator/Servicer fees, costs related to any subcontractors, and any other administrative costs for the Program Manager and Originator/Servicer that may be incurred in executing CT CAP.

c) Disbursement Timeline. Funding shall be deployed to the Program Manager on a drawdown schedule to be agreed upon during the contracting stage.

d) Total Amount Available. The total amount of funding available for distribution to the successful proposer(s) is $4,840,000. This amount covers both administrative costs (Program Management and Origination/Servicing) and programmatic costs (OBLs and living stipends). Of this total, OWS expects administrative costs over the five-year base term not to exceed $750,000 for both service areas. This figure is a maximum, not a target or required expected bid. Proposers are encouraged to explain the cost of their services in a manner consistent with delivering the scope of work, and all proposals will be evaluated competitively.

OWS anticipates that program management costs will be proposed on a level of effort basis for dedicated program staff, and that origination and servicing costs will be proposed on a per loan basis. Other cost structures will be considered if accompanied by a reasonable justification.

As directional guidance only, OWS anticipates that total administrative costs will peak in the first three (3) years, then decline in subsequent years as operations shift from fund formation and origination to servicing and repayment. Proposers are not required to structure their proposed budget in this manner but must provide a rationale for the breakdown of costs across the contract period for each service area proposed.

e) Contract Term: OWS intends to award the contract(s) for a base term of five (5) years, corresponding to the anticipated OBL deployment and initial servicing period for CT CAP. CT

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CAP is designed as a longer-horizon program: the OBL deployment period is expected to last three (3) years, followed by a two (2) year period focused on initial servicing, repayments management, and outcomes reporting; and up to five (5) years of ongoing servicing, repayments and data reporting, resulting in a total anticipated program horizon of approximately ten (10) years. While the contract(s) covers the expected five-year base term, OWS anticipates that management of CT CAP will continue through the repayment period.

OWS may, at its sole discretion and subject to the availability of funds, satisfactory performance, and applicable procurement requirements, extend or renew this contract(s) or separately procure services for the remainder of the full program period for CT CAP. Nothing in this RFP shall be construed as a commitment to extend, renew, or award any contract beyond the initial base term (five years), or to guarantee any funding beyond amounts already appropriated.

5) ELIGIBILITY & EXPECTATIONS OF ENTITIES

a) Eligibility. Non-governmental firms, including non-profit and for-profit entities, possessing appropriate licensure to undertake the proposed activities in the State of Connecticut.

b) Awardee Expectations (for Program Manager respondents only).

a. Experience in supporting workforce development and education career pathways.

b. Experience managing and reporting on the use of public funds.

c) Awardee Expectations (for Originator/Servicer respondents only).

a. Experience managing outcomes-based loans and/or student loans throughout their lifecycle, as described herein.

d) Data Collection Requirements. OWS shall provide a template for collecting and guidance for uploading information on the borrowers receiving OBLs and on Selected Training Providers.

6) NUMBER OF AWARDS

1. Awards. This contract shall be awarded to up to two contractors, and more than one service area may be awarded to the same respondent. The awardees will be selected based on the score of the proposal and consideration for how the proposal best meets the needs of OWS as outlined in this Request for Proposal.

7) CONTACT & SUBMISSION INFORMATION

1. Contacts. All questions and proposal submissions shall be made to

Name Grace Suh Address 450 Capitol Avenue, Hartford, CT 06106 Phone 917-226-1854 Email grace.suh@ct.gov

OWS has designated the individual above as the Official Contact for purposes of this RFP. The Official Contact is the only authorized contact for this procurement and, as such, handles all related communications on behalf of OWS. Proposers, prospective proposers, and other mailto:grace.suh@ct.gov

Hartford, CT 06106 Page 11 of 31 interested parties are advised that any communication with any other OWS employee(s) (including appointed officials) or personnel under contract to OWS about this RFP is strictly prohibited. Proposers or prospective proposers who violate this instruction may risk disqualification from further consideration.

Please ensure that e-mail screening software (if used) recognizes and accepts e-mails from the Official Contact.

b. Deadlines (Procurement Schedule)

• RFP Released: Monday, October 19, 2026

• RFP Conference: Tuesday, October 27, 2026, 12 pm – 1 pm EDT o Register here: https://us02web.zoom.us/meeting/register/IvjL_WKeQXi7Y4LViMd4Gg

• Questions Deadline: Monday, November 2, 2026, 5pm EST

• Answers Deadline: Friday, November 6, 2026, 5pm EST o Questions will be reviewed by the OWS team, answered, and provided back to the proposers in the form of an appendix that must be signed by the proposer. The appendix will also be posted online.

• Proposals Deadline: Monday, November 23, 2026, 5pm EST

The Official Contact is the only authorized recipient of proposals submitted in response to this RFP.

Proposals must be received by the Official Contact on or before the due date and time established in the Procurement Schedule.

Proposals received after the due date and time will be ineligible and will not be evaluated.

OWS will send an official letter alerting late respondents of ineligibility.

An acceptable submission must include the following:

1. One (1) conforming electronic copy of the original proposal.

The proposal must be complete, properly formatted and outlined, and ready for evaluation by the Evaluation Review Committee.

2. Registering with State Contracting Portal. Respondents must register with the State of CT contracting portal at https://portal.ct.gov/DAS/CTSource/Registration if not already registered. Respondents shall submit the following information pertaining to this application to this portal (on their supplier profile), which will be checked by OWS.

1. Secretary of State recognition – Click on appropriate response

2. Non-profit status, if applicable

3. Notification to Bidders, Parts I-V

4. Campaign Contribution Certification (OPM Ethics Form 1):

https://portal.ct.gov/OPM/Fin-PSA/Forms/Ethics-Forms https://us02web.zoom.us/meeting/register/IvjL_WKeQXi7Y4LViMd4Gg https://portal.ct.gov/DAS/CTSource/Registration https://portal.ct.gov/OPM/Fin-PSA/Forms/Ethics-Forms https://portal.ct.gov/OPM/Fin-PSA/Forms/Ethics-Forms

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3. RFP Information. The RFP, amendments to the RFP, and other information associated with this procurement are available in electronic format from the Official Contact or from the Internet at the following locations:

• State Contracting Portal (go to CTsource bid board, filter by Office of Workforce Strategy): https://portal.ct.gov/DAS/CTSource/BidBoard

It is strongly recommended that any proposer or prospective proposer interested in this procurement check the Bid Board for any solicitation changes. Interested proposers may receive additional e-mails from CTsource announcing addendums that are posted on the portal. This service is provided as a courtesy to assist in monitoring activities associated with State procurements, including this RFP.

4. Inquiry Procedures. All questions regarding this RFP or OWS’s procurement process must be directed, in writing, electronically (e-mail), to the Official Contact before the deadline specified in the Procurement Schedule. The early submission of questions is encouraged.

Questions will not be accepted or answered verbally – neither in person nor over the telephone. All questions received before the deadline(s) will be answered. However, OWS will not answer questions when the source is unknown (i.e., nuisance or anonymous questions).

Questions deemed unrelated to the RFP or the procurement process will not be answered. At its discretion, OWS may or may not respond to questions received after the deadline. OWS may combine similar questions and give only one answer. All questions and answers will be compiled into a written amendment to this RFP. If any answer to any question constitutes a material change to the RFP, the question and answer will be placed at the beginning of the amendment and duly noted as such.

OWS will release the answers to questions on the date(s) established in the Procurement Schedule. OWS will publish any and all addendums and amendments to this RFP on the State Contracting Portal and, if available, on OWS’s RFP Web Page. At its discretion, OWS may distribute any addendums and amendments to this RFP to prospective proposers who submitted a Letter of Intent or attended the RFP Conference (if applicable).

5. Conference. An RFP conference will be held to answer questions from prospective proposers on Tuesday, October 27, 2026 at 12 pm Eastern. The conference will be a one-hour virtual session to answer questions regarding this RFP. To register, click here:

https://us02web.zoom.us/meeting/register/IvjL_WKeQXi7Y4LViMd4Gg

6. Multiple Proposals. The submission of multiple proposals is not an option for this procurement. While respondents can offer to perform one or both service areas in the scope of work, each respondent is limited to one proposal submission.

https://portal.ct.gov/DAS/CTSource/BidBoard https://us02web.zoom.us/meeting/register/IvjL_WKeQXi7Y4LViMd4Gg

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8) PROPOSAL INFORMATION

1. The following provides an outline of the proposal requirements including a description, the maximum length of the section, and the weight of the section. All pages must be no less than .5” margins and a reasonable readable font size (11-12 pt Times New Roman or Calibri recommended).

Section Item Description Length

(pages) I Cover Page / Signed Proposal (see Exhibit C) 1 II Table of Contents 1 III Executive Summary 1 IV Organization Profile and Demonstrated Experience (Program managers and Originators/Servicers should answer questions applicable to their experience and may skip questions pertaining to services they do not anticipate providing to CT CAP.)

• Describe the organization (nonprofit or for-profit), organizational mission and values, years of operation, the type of services the proposer provides and the organization’s main area of expertise.

• Describe any experience managing or deploying capital through OBLs, income-contingent financing, or workforce training finance programs, including, if applicable, experience originating, underwriting, or servicing OBLs, income-contingent loans, or comparable workforce training finance instruments.

• Describe the organization’s experience managing and reporting on the use of public funds, including, prior experience receiving, deploying, and accounting for public or philanthropic capital in support of workforce training finance or income-contingent lending programs.

• Describe the organization’s experience supporting workforce development and education career pathways, including prior work with underemployed, low-income, or other populations with barriers to employment seeking credentials or skills training, and understanding of OWS’ equity goals.

• Describe at least two past clients, projects or funds wherein the organization has performed similar fund management services as is requested in this RFP. Describe the scope of work and results.

Attachments (samples of prior OBL, income-contingent, or workforce training finance program documentation, agreements, or reporting templates) are accepted in an appendix and do not count toward the page limitation.

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Scope of Services Describe the organization’s implementation approach for each service area it is proposing to deliver: Program Management and/or Origination/Servicing. A proposal covering more than one service area must address each area under its own heading and clearly delineate its approach for each so that the Review Committee can evaluate each area on its own merits. For each service area, respondents should explain how the services detailed in the scope of work will be implemented and the timeframes involved. Specifically, the response should address the following:

Program Management (if applicable)

• How the proposer would approach fund formation, governance structure, and legal documentation for CT CAP.

• How the proposer would approach relationship management of training providers and employers.

• How the proposer will manage residual funds at the end of fund life that can no longer be recycled and deployed to new borrowers.

• The type of data collection and management approach for program outcomes. KPIs will include but not limited to number of individuals who seek, enroll, and complete training, and attain gainful employment.

Origination and Servicing (if applicable)

• How the proposer will screen applicants against the OBL eligibility criteria and underwrite new OBLs.

• How the proposer will disburse OBL funds and manage application and borrower experience during the application process.

• Describe the key components of the application, promissory note and required disclosures.

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• How the proposer will service the OBLs, including repayment monitoring and default aversion activities.

• The types of guidelines and operational processes the proposer will implement to ensure income verification and equitable deferment and forbearance.

• How the Servicer will support borrowers throughout repayment.

Both Service Areas (if applicable)

• The proposed collaboration or subcontracting, if any, with other entities to fulfil the requirements of the contract resulting from this

RFP.

• If proposing an alternative to the contracting structure described in Section 3, please describe your proposed approach and how accountability to OWS would be preserved.

• Any anticipated program implementation risks and how the proposer would foresee mitigating and managing such risks.

Staffing Plan Provide an overview of the staffing plan, identifying each role within the scope of this project and the percentage of time each staff member will dedicate to the project on an annual basis. Identify all Key Personnel, describe their roles within the scope of the project, and provide their resumes. If subcontractors will be used for any service area, please provide: (1) the name of key contacts of the subcontractor, (2) any details about the existing relationship with the subcontractor, and (3) a brief overview of their past work and credentials. Resumes are accepted in an appendix and do not count toward the page limitation.

Data and Technology If applicable, please describe any platforms or systems the organization will use to manage deal flow, KPIs and/or reporting.

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Work Plan Please provide a workplan for each service area proposed, setting out the proposed tasks, milestones, and schedule of deliverables for the full contract period. For Years 1-2, the timeline should be presented on a monthly basis; Years 3-5 may be presented on an annual basis.

The work plan must address each deliverable listed in the Deliverables section above (Section 3) that is assigned to a service area and must clearly identify the point in the timeline at which each deliverable will be completed.

At a minimum, the work plan should incorporate the following baseline milestones:

• Establishment of all legal and logistical frameworks required to onboard and engage with Selected Training Providers and participating employers by January 1, 2027, designed to be applied consistently across all three priority career pathways (Relevant to Program Management service area); and

• Launch of commercial driver’s license (CDL) career pathway within six months. (Relevant to all service areas.)

• Launch of licensed practical nursing (LPN) and paramedic training career pathways in Year 1, to the extent enrollment dates for these programs allow. To support rapid onboarding of Selected Training Providers and launch of all three career pathways, indicative term sheets will have been provided to Selected Training Providers prior to the start of the contract period. Where a career pathway cannot be launched in Year 1, due to enrollment timing or other constraints outside of the Fund Manager’s control, the Fund Manager should provide an approach and indicative sequencing for its launch in Year 2.

(Relevant to all service areas.)

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Budget Narrative The Budget Narrative should detail estimated administrative costs for CT CAP on an annual basis, presented separately for each service area proposed. For the proposed service area, the Narrative should include all costs associated with executing activities described in the Scope of Work and any anticipated third-party costs.

The Budget Narrative should also discuss how the proposer would fund its services during the repayment period (up to five years during the final half of the full CT CAP program), including whether costs could be covered by OBL repayments recycled into CT CAP or by other sources. The Budget Narrative should provide an indicative, non-binding estimate of annual repayment-period costs for the proposed service area. OWS is not committing to fund these amounts through this contract; this information is requested for planning purposes.

V Financial Standing and Compliance To demonstrate that the proposer is in Good Standing, please provide information related to the proposer’s fiscal stability, including its three most recent annual audits or financial statements. See Exhibit A, Key Definitions, for description of Good Standing.

VI Other Documents The following documents will be considered as Attachments and will not count toward the page limit of the Main Proposal section.

• Resumes of Key Personnel

• Up to two (2) examples of previous relevant work to support “Organizational

Profile and Demonstrated Experience” section.

• Three (3) references from clients reflecting previous work.

• Declaration of Confidential Information

• Conflict of Interest – Disclosure Statement

• Statement of Assurances (Exhibit D)

9) BUDGET PROPOSAL

1. Proposals must include a budget as a separate attached excel file in line with the Budget Narrative. The budget must present costs on an annual basis for each of the five (5) base-term years and must separately itemize direct and indirect costs, and present costs separately for each service area proposed. Proposers should use the attached budget template provided (See Exhibit E). Proposers should use additional worksheets to show build up to the final budget proposal amount.

2. Program Management: The budget should be proposed on a level of effort basis for dedicated program staff. For each year, the respondents should identify the staff role, the hours or percentage of time they will dedicate to CT CAP annually and the cost of that time.

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3. Origination and Servicing: The budget for origination and servicing should be proposed on a per loan basis. Separate fees for origination and servicing or a single combined fee may be provided. Respondents should disclose whether fees vary by loan volume or by the stage of the loan. To prepare the budget proposal, respondents should refer to the estimated number of loans and loan size provided in Section 3.b: “Parameters of the anticipated outcomes-based loans”.

4. Other Cost Structures: Respondents may submit an alternative cost structure for either service area, provided it is accompanied by a reasonable justification.

5. Proposers should note that their estimate of costs for the 5-year repayment period should not be included in the budget proposal.

10) OTHER DOCUMENTS

1. Declaration of Confidential Information. Proposers are advised that all materials associated with this procurement are subject to the terms of the Freedom of Information Act (FOIA), the Privacy Act, and all rules, regulations and interpretations resulting from them. If a proposer deems that certain information required by this RFP is confidential, the proposer must label such information as CONFIDENTIAL prior to submission. The proposer must reference where the information labeled CONFIDENTIAL is located in the proposal. EXAMPLE: Section G.1.a. For each subsection so referenced, the proposer must provide a convincing explanation and rationale sufficient to justify an exemption of the information from release under the FOIA. The explanation and rationale must be stated in terms of (a) the prospective harm to the competitive position of the proposer that would result if the identified information were to be released and (b) the reasons why the information is legally exempt from release pursuant to C.G.S. § 1-210(b). If the proposer has no information it deems confidential, the proposer must affirm such and acknowledge their understanding of applicable rules in the disclosure statement. Example: “[name of proposer] understands that all materials associated with this procurement are subject to the terms of the Freedom of Information Act, the Privacy Act, and all rules, regulations, and interpretations resulting from them. No information provided in this proposal is confidential.”

2. Conflict of Interest - Disclosure Statement. Proposers must include a disclosure statement concerning any current business relationships (within the last three (3) years) that pose a conflict of interest, as defined by C.G.S. § 1-85. A conflict of interest exists when a relationship exists between the proposer and a public official (including an elected official) or State employee that may interfere with fair competition or may be adverse to the interests of the State. The existence of a conflict of interest is not, in and of itself, evidence of wrongdoing. A conflict of interest may, however, become a legal matter if a proposer tries to influence, or succeeds in influencing, the outcome of an official decision for their personal or corporate benefit. OWS will determine whether any disclosed conflict of interest poses a substantial advantage to the proposer over the competition, decreases the overall competitiveness of this procurement, or is not in the best interests of the State. In the absence of any conflict of interest, a proposer must affirm such in the disclosure statement. Example: “[name of

Hartford, CT 06106 Page 19 of 31 proposer] has no current business relationship (within the last three (3) years) that poses a conflict of interest, as defined by C.G.S. § 1-85.”

3. Statement of Assurances (Exhibit D). Place after Conflict of Interest Disclosure Statement. Sign and return.

11) EVALUATION, CONTRACT SELECTION, AND EXECUTION

1. Evaluation Process. It is the intent of OWS to conduct a comprehensive, fair, and impartial evaluation of proposals received in response to this RFP. When evaluating proposals, negotiating with successful proposers, and awarding contracts, OWS will conform with its written procedures for POS and PSA procurements (pursuant to C.G.S. § 4-217) and the State’s Code of Ethics (pursuant to C.G.S. §§ 1-84 and 1-85). Final funding allocation decisions will be determined during contract negotiation.

2. Evaluation Review Committee. OWS will designate a Review Committee to evaluate proposals submitted in response to this RFP. The Review Committee will be composed of individuals, OWS staff or other designees as deemed appropriate. The contents of all submitted proposals, including any confidential information, will be shared with the Review Committee. Only proposals found to be responsive (that is, complying with all instructions and requirements described herein) will be reviewed, rated, and scored. Proposals that fail to comply with all instructions will be rejected without further consideration. The Review Committee shall evaluate all proposals that meet the Minimum Submission Requirements by score and rank ordered and make recommendations for awards. The Chief Workforce Officer will make the final selection. Attempts by any proposer (or representative of any proposer) to contact or influence any member of the Review Committee may result in disqualification of the proposer.

3. Evaluation Criteria (and Weights). Proposals meeting the Minimum Submission Requirements will be evaluated according to the established criteria. Each service area proposed will be evaluated separately against the criteria below. OWS prefers a single organization capable of performing both service areas, however, proposal quality and the ability to execute will be prioritized. OWS may award any service area to the respondent whose proposal for that area is strongest. The criteria are the objective standards that the Review Committee will use to evaluate the technical merits of the proposals. Only the criteria listed below will be used to evaluate proposals.

Evaluation Category

Key Evaluation Factors Weight

Organization Profile and

Demonstrated Experience

• Organization’s mission and value are aligned with CT CAP and its aim to support low-income, underemployed or disadvantaged individuals to access career training and credentials.

• Demonstrated track record (in each service area

20%

Hartford, CT 06106 Page 20 of 31 proposed) of managing capital for, originating, underwriting, or servicing outcome based-loans, income-contingent financing or similar workforce training financing programs.

Scope of Services

• Clarity and feasibility of proposed approach to each service area proposed, program management, origination, and/or servicing.

30%

Staffing Plan

• Staffing structure clearly aligns with scope of work for each service area proposed, with named key personnel, defined roles, and specified time commitments for each position.

10%

Data and Technology

• Adequacy of platforms and management information system for KPI tracking and reporting to OWS (program management).

• Adequacy of OBL origination system and/or servicing system, if applicable, to support borrower applications, repayment tracking, and ensure and audit-ready documentation.

10%

Work Plan

• Tasks and deliverables are clearly and realistically sequenced for each service area, including handoffs across areas, and demonstrate an understanding of the project objectives required in the scope of work.

10%

Budget and Budget Narrative

• Budget for each service area proposed is reasonable and sufficient to carry out program activities, with staffing and third-party costs clearly itemized.

• Demonstrates strong fiscal stewardship of program resources.

20%

4. Proposer Selection. Upon completing its evaluation of proposals, the Review Committee will submit the rankings of all reviewed proposals to the Chief Workforce Officer. The final selection of a successful proposer is at the discretion of the Chief Workforce Officer. Any proposer selected will be so notified and awarded an opportunity to negotiate a contract with OWS. Such negotiations may, but will not automatically, result in a contract. Any resulting contract will be posted on the State Contracting Portal. All unsuccessful proposers will be notified by e-mail or U.S. mail, at OWS’ discretion, about the outcome of the evaluation and proposer selection process. OWS reserves the right to decline to award contracts for activities in which the Chief Workforce Officer considers there are not adequate respondents.

5. Debriefing. Within ten (10) days of receiving notification from OWS, unsuccessful proposers may contact the Official Contact and request information about the evaluation and proposer selection process.