APA 2026-03 Financial Advising Services

This procurement solicits Statements of Qualifications from Municipal Advisory firms to provide comprehensive financial advising services to Utah Charter Academies, Inc. (UCA), one of Utah's largest and most complex charter networks currently operating seven schools with an eighth in development, all serving 5,451 students. The procurement is conducted by the State of Utah Division of Purchasing on behalf of UCA under Utah Procurement Code 63G-6a Part 15 using a value-based selection methodology. The selected firm will provide fiduciary advisory services for three major capital initiatives totaling approximately $53.4 million, including the Eagle Mountain Campus ($19.5 million K-6 facility), West Valley 2 Expansion ($20.5 million auditorium and classroom complex), and Salem Campus Expansion ($13.4 million addition for grades 10-12 and additional elementary classrooms). Required services include strategic planning and funding source analysis incorporating bonds and bank loans, rating agency strategy development, feasibility reporting with pro forma projections, regulatory compliance management including MSRB Rule G-42 disclosures, and expertise with UCA's Master Indenture Series 2015 and 2018 Bond covenants and the Amended and Restated Custodial Agreement with Zions Bancorporation. The evaluation criteria prioritize experience with large Utah networks at 45 percent weight, personnel and continuity of the lead advisor at 35 percent, technical approach to UCA's pledged schools financing structure at 10 percent, and references from large-scale Utah charter boards at 10 percent. Submissions must be submitted via Bonfire or by email to dsharette@apamail.org by the April 8, 2026 deadline, with no pricing information included in the qualifications submissions.

The procurement documents indicate no specific set-asides or restrictions limiting respondent eligibility based on disadvantaged enterprise status or organizational type, suggesting the opportunity is open to all qualified Municipal Advisory firms. No incumbent vendors or current contractors are identified in the available materials. The vendor selected as highest-ranked will be invited to negotiate a contract at compensation determined to be fair and reasonable; if negotiations fail with the top-ranked vendor, the state reserves the right to proceed with the next highest-ranked firm. Specific budget ranges or award values are not disclosed in the procurement materials; pricing is to be negotiated following selection based on qualifications and technical approach. The selected advisor must demonstrate mastery of large-scale system financing and deep historical context of UCA's existing bond obligations, including the complex pledged versus non-pledged revenue structure that distinguishes UCA's financing model. All standard State of Utah contracting terms and conditions apply, including requirements for workers' compensation insurance, commercial general liability insurance of no less than $1,000,000 per occurrence and $3,000,000 aggregate, compliance with E-Verify employment verification, and six-year record retention with audit rights reserved to the state.