Written Inquiries and Answers RFP 2027000050_th11.6.docx
DOCX document 28 KB Posted
- Attached to
- Tax Increment Financing Analysis Consultant
- Solicitation number
- RFP EDAA 2027000050 2
- Issued by
- Denver County, Denver City, Colorado
About this file
This is a Written Inquiries and Answers document for RFP 2027000050, a Tax Increment Financing Analysis Consultant opportunity issued by the Colorado Office of Economic Development and International Trade (OEDIT). The RFP seeks to contract with an economic consulting firm to provide Tax Increment Financing (TIF) analysis services supporting Colorado's state sales tax increment financing program established under HB26-1065. The consultant will deliver two phases of work: Phase 1 involves preparing baseline growth rate estimates and economic analysis reports for proposed Transit Investment Areas, while Phase 2 consists of comprehensive economic analysis reports for Transit Investment Projects selected for advancement. OEDIT anticipates receiving approximately six pre-applications during the first year, with projections of six to 12 pre-applications over two calendar years. Phase 1 work will be contracted directly between OEDIT and the selected consultant, while Phase 2 work will be performed under separate contracts between the consultant and local government applicants. Proposals must not exceed 20 pages, excluding cover pages, tables of contents, and section dividers, and must include one year of financial statements from the firm.
Pricing is capped at $7,500 per Phase 1 report and $60,000 per Phase 2 report, with evaluation of pricing proposals occurring only after the committee assesses qualifications, approach, previous work examples, and key personnel experience. The consultant will attend EDC meetings virtually for Phase 1 and one in-person meeting for Phase 2, with costs included in the fixed prices. A conflict of interest restriction prohibits the selected firm from performing economic analysis work related to any Transit Investment Area or Transit Investment Project applying for this state program. The consultant must maintain professional liability insurance of $1,000,000 and Protected Information Insurance to handle confidential state sales tax data provided by the Department of Revenue. OEDIT reserves the right to award to multiple offerors if necessary to meet program timelines. Local governments will determine payment terms and schedules directly with the consultant for Phase 2 work, with standard contract remedies for non-payment applied at the local level.
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Other files
| File | Type | Posted |
|---|---|---|
| Attachment 3 - Vendor Accessibility Checklist Affirmation.doc | DOC document | |
| Attachment 2 - RFP Affirmation Page.doc | DOC document | |
| RFP EDAA 2027000050 - Modification 1, Published 11.6.2026..docx | DOCX document | |
| Base Pricing Sheet 10.20.docx | DOCX document | |
| Exhibit C - Insurance Information for Vendors.doc | DOC document | |
| Attachment 5 - Vendor Performance Disclosure Form.doc | DOC document | |
| RFP EDAA 2027-2027000050 -- published 10.20.pdf | ||
| Attachment 1 - Signature & Attestation Page.doc | DOC document | |
| Exhibit A and B - Main Contract and Task Order.pdf | ||
| Base Pricing Sheet Modification 11.6.docx | DOCX document | |
| Exhibit D - Vendor RFP Checklist.doc | DOC document | |
| Attachment 4 - W-9.pdf |
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RFP 2027000050 Title: Tax Increment Financing Analysis Consultant Question & Answer
| 1. | Do a cover page, table of contents, and section dividers count toward the 20-page limit? | ||
| Answer: | |||
| No, the cover page, table of contents and section dividers do | not count toward the 20-page limit. |
2. Conflict of interest. Attachment 1 states, “The Offeror may not be performing economic analysis or other related work that will be used to complete a pre-application of a Transit Investment Area or an application of a Transit Investment Project.”
| 1) | Does this restriction apply to work completed before contract award? | |||||||
| Answer: | ||||||||
| The restriction applies if the firm was hired to perform economic analysis | work to prepare for a pre-application or Transit Investment Project | application for this state sales tax increment financing program established | by HB26-1065. | |||||
| 2) | Does it apply to TIF, special district, or other public finance work for Colorado | |||||||
| local governments that is unrelated to this program? | ||||||||
| Answer: | ||||||||
| No. | ||||||||
| 3) | Does it apply to financing or bond-related services for a Transit Investment | Project after the EDC approves it? | ||||||
| Answer: | ||||||||
| Yes. | ||||||||
| There will be a conflict of interest if a firm performs economic analysis for | this state sales tax increment financing program and then provides financing | and bond-related services to an awarded applicant and/or their partners, if | the tax increment financing is being used in the financing and bonding. The | reason is the cost to bond, or finance awarded Projects is an eligible cost for | the tax increment financing. Therefore, the firm could financially benefit from | their work performing the economic analysis for OEDIT. Further there could | be the appearance of a quid pro quo. |
3. Scope of the restriction. Does the restriction apply only to the Transit Investment Areas for which the consultant prepares a Phase 1 assessment or Phase 2 report, or to all Transit Investment Areas statewide?
| Answer: | |||
| The selected firm may not perform economic analysis work for any | proposed Transit Investment Area or potential Transit Investment Project for | any and all applicants or their partners that are submitting an application for | this state sales tax increment financing program. |
4. Phase 2 contracting and payment. Section 4.6.C states that local government applicants will pay the consultant directly for Phase 2.
| 1) | Will each Phase 2 engagement be issued as a task order under the OEDIT | contract, or will the consultant sign a separate contract with each local |
| government? |
| Answer: | |||||||||||
| The OEDIT contract will be set up as a cooperative agreement with local | governments, providing the local governments with the authority to contract | with the economic consultant firm that OEDIT hires will satisfy the local | government solicitation process. The local government will create a contract | with the economic consultant firm separately for work on phase 2 for | their | Transit Investment Project. The local government contract will | refer to the | OEDIT contract on scope of work to cover the economic analysis | elements the State needs information on. That local government contract | may also include additional work, such as a presentation to the local | government elected leaders. |
| 2&3) | If a local government does not pay for a completed report, what remedy will | the consultant have? Will OEDIT require a local government to pay a deposit | |||||||||
| before Phase 2 work begins? |
| Answer: | |||||
| The contract with the local government paying for the economic analysis | on their specific project will identify how and when payment(s) are made and | include standard remedies | in their contracts for non-payment. The economic | consultant will have the opportunity to discuss payment terms for phase 2 | work with the local governments. |
5. Assignment of work. Section 5.5.A states that OEDIT may award to multiple Offerors. In that case, how will each Phase 1 and Phase 2 engagement be assigned?
| Answer: | |||
| OEDIT intends to award this RFP to one (1) Offeror but reserves the right to | award to multiple Offerors. | ||
| If OEDIT chooses to award contracts to multiple offerors, OEDIT will do so | based on the need to get the baseline growth rate estimates and economic | analysis work completed in a timely fashion, such that the process will | continue smoothly and efficiently. |
| In this case, OEDIT would release the pre-applications and/or full project | proposals to the economic analysis firms based on the method that will | result in meeting the program schedule. |
6. Pricing. Section 3.7 caps the budget at $7,500 per Phase 1 report and $60,000 per Phase 2 report. Section 5.2.E.i.e states that pricing is not part of the initial evaluation but “will be considered part of the overall proposal submission,” and the Pricing Sheet identifies both fixed prices as determinant factors for award. How and when will pricing be considered? Will a fixed price below the cap be considered more favorably?
| Answer: |
| The evaluation committee will not view the Offeror’s price proposal until |
| after the committee has evaluated each firm’s capability to perform the |
| work, approach to the Scope of Work, the examples of previous work, and |
| the experience and training of Key Personnel. This process allows the |
| evaluation committee to evaluate a firm’s qualifications first and foremost and then consider the price proposal. A fixed price below the cap could make a difference between two or more highly qualified Offerors. |
7. EDC meetings. The Pricing Sheet states that the fixed prices include attending EDC meetings virtually or in person. Section 3.4.H also requires attendance at a minimum of two EDC meetings, while the Pricing Sheet states up to two. How many EDC meetings per report are included in each fixed price?
1) May the consultant choose to attend virtually?
| Answer: | ||
| Yes, Offerors will attend the EDC meetings virtually, for Phase 1. | ||
| The plan is for the EDC to evaluate all baseline growth rates at the same | meeting, if possible. It is possible that a second virtual meeting will be | necessary if the EDC has further questions on any of the Project reports. |
| The Offeror will meet in person for one (1) EDC during Phase 2. | ||
| OEDIT recommends | budgeting for attending two in-person meetings. |
For the economic analysis report on Transit Investment Projects, EDC plans to host a public hearing for the applicants to make a brief presentation about their projects. The economic consulting firm should plan to listen to the presentations at that meeting, by attending the meeting virtually.
8. Phase 2 report scope. Section 4.5.E.ii.a.1 asks how the Offeror will calculate net fiscal impacts and how its model will evaluate debt service coverage. Section 3.2.B.ii does not list either among the contents of the Economic Analysis report. Must the report include a net fiscal impact analysis? Must it include a debt service coverage analysis?
| Answers: |
| No, and No. |
**This Section has been modified. See Modification 1 posted 11/6/2026.
9. Sales tax data. Section 3.2.A.ii states that the work may include conversations with the Department of Revenue and local governments to obtain data.
1) Will the Department of Revenue provide the consultant with state sales tax data by business location?
Answer:
| Yes, section 39-21-113(40), C.R.S. permits the Department of | Revenue to share return information with OEDIT and the consultant providing the economic analysis work. The Department of Revenue will share this information upon request, after the economic consultant firm is under contract Pursuant to 39-21-113(40)(b), C.R.S. that information remains confidential tax information in the | hands of OEDIT and its analyst. Protected information insurance is not a requirement but is an option. |
| 2) | If so, will the State treat that data as Tax Information? Will the consultant need | Protected Information insurance? |
| Answer: | ||
| Yes, Protected Information Insurance will be required. |
10. Page limit. Do the cover page and table of contents count toward the twenty-page limit?
Answer:
See answer for question #1.
| 11. Financial statements. Section 3.3.A.iv requires financial statements with the | |||||
| proposal, while Section 5.5.D requires Offerors recommended for award to provide | financial information upon request. | ||||
| 1) | Must financial statements be submitted with the proposal, or only upon | request? | |||
| Answer: | |||||
| Financial statements are required to be submitted with the | proposal. |
| 2) | How many years of statements are required? | |
| Answer: | ||
| One (1) last to the current year. | ||
| 3) | Must the statements be audited? | |
| Answer: | ||
| No. |
Section 4, 5.E.iv. has been added to include financial statement submission requirements.
Please see document titled Modification #1, posted 11/6/2026 *Offerors must acknowledge one (1) RFP modification on Attachment 1.
11. Credit rating. Section 5.5.D also requires “a credit rating by a rating service.” What will satisfy this requirement for a privately held firm?
| Answer: | ||
| This is an after-Award-related situation. Should this information be needed, | OEDIT intends to use the financial information submitted with the RFP that | was a mandatory requirement. |
12. Professional liability insurance. Exhibit C requires a $2,000,000 aggregate limit for professional liability insurance, while Exhibit A, Section 10.E requires $1,000,000. Which governs?
| Answer: | |
| The correct amount for professional liability insurance is | $1,000,000 in Exhibit A, Section 10.E. |
13. How many pre-applications for Transit Investment Areas does OEDIT anticipate receiving?
| Answer: | ||||||
| OEDIT anticipates approximately six pre-applications during the first year. | ||||||
| #2 HB26-1065 allows the Colorado Economic Development Commission to | award three Transit Investment Projects per calendar year and a total of six | projects, meaning there will be at least two rounds of applications. This is a | new program approved at the end of May 2026 with a unique financing | mechanism. Therefore, it is impossible to accurately predict how many pre- | applications will be submitted. OEDIT is estimating that six to 12 pre- | applications will be submitted over the next two calendar years. |
14. Please clarify how the consultant will be paid for work associated with Phase 2. Will the consultant have separate contracts with local governments for the work associated with Phase 2.
| Answer: |
| Please see question #4 and the Answer. |
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