CPA Services for Expiring LIHTC Projects

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) is soliciting proposals through a Request for Proposals (RFP) for Certified Public Accountant (CPA) services to evaluate expiring Low-Income Housing Tax Credit (LIHTC) projects. The Agency seeks qualified firms or individuals to provide two primary service categories on an as-needed basis: (1) QCP review services to determine the reasonableness and accuracy of Qualified Contract Prices submitted by project owners requesting to opt out of the LIHTC Program, with no minimum or maximum number of reviews specified during the contract period, and (2) consulting services regarding the Agency's Qualified Contract Procedures. Bidders must submit firm fixed-price proposals that are all-inclusive of direct costs, indirect costs, overhead, labor, and all other expenses, with pricing components including a per-QCP review fee, turnaround time per review, and an hourly rate for consulting services. The RFP evaluation criteria weight qualifications and personnel at 20 percent, proposed services at 30 percent, sample QCP analysis at 30 percent, and cost at 20 percent. Mandatory qualifications and insurance requirements include professional liability insurance of at least $1,000,000, general liability insurance of at least $1,000,000 per occurrence, and cyber liability insurance of at least $1,000,000. The question period runs from March 6, 2026 at 11:00 AM EST through March 13, 2026 at 2:00 PM EDT, with all proposals due electronically through the NJHMFA Bonfire Hub portal by April 7, 2026 at 11:00 AM EDT. The contract will be awarded for an initial three-year term with the potential for two additional one-year extensions upon mutual written consent.

The Agency encourages participation from Small Business Enterprises (SBE), Disabled Veteran-owned businesses, Minority-owned Business Enterprises (MBE), and Women-owned Business Enterprises (WBE) as both prime contractors and subcontractors, and vendors must comply with New Jersey business registration, prevailing wage and equal employment opportunity laws, and political contribution disclosure requirements under Chapter 51 of New Jersey law. A bid guarantee of 10 percent of the total bid price (not exceeding $20,000) is required, along with performance and payment bonds equal to 100 percent of the contract value upon award. Bidders must submit Exhibits A through I, including mandatory compliance forms such as equal employment opportunity certifications, three professional references, political contribution disclosures, Iran and Russia/Belarus investment compliance certifications, and ownership disclosure statements. The Agency reserves the right to award contracts to one or more qualified contractors if determined to be in the Agency's best interest, and will make payment within 60 calendar days of receipt of undisputed invoices or acceptance of services. No specific funding amount or budget range is disclosed in the solicitation documents, as pricing is determined on a firm fixed-price basis with no price increases permitted during the contract period unless circumstances or applicable law change. Electronic submission through the official Procurement Portal is mandatory, with no bids accepted after the April 7, 2026 deadline.