KBRA Monitoring Service 26-27

The State of Illinois, through the Illinois Housing Development Authority (IHDA), is procuring a KBRA Monitoring Service subscription renewal for the fiscal year 2026-2027. This procurement is for the continuation of the KFI Lite monitoring service provided by KBRA Analytics, which delivers financial institution monitoring and analytics capabilities to support IHDA's oversight and regulatory compliance functions. The service includes access to KFI Scores, summary regulatory data and metrics, snapshot reports covering approximately 10,000 institutions, a company screener tool, and KFI Insights, with capacity for up to three registered users. Key deliverables include continuous access to real-time and historical financial institution data, regulatory metrics, and analytical tools necessary for monitoring the performance and compliance of financial institutions within IHDA's portfolio. The subscription will renew automatically on July 1, 2026, for a 12-month term unless IHDA provides written notice of termination to KBRA Analytics by June 1, 2026. The contract posting date was May 11, 2026, with the same date serving as the due date for submissions. Vendors must comply with the State of Illinois Standard Terms and Conditions (Version 23.2), including mandatory general commercial liability insurance of $1,000,000 per occurrence and $2,000,000 annual aggregate, workers' compensation insurance as required by law, and all applicable federal, state, and local laws.

The procurement does not indicate specific set-aside designations for disadvantaged enterprises, though the State's standard terms and conditions require a $15 minority contractor initiative fee for contracts valued at $1,000 or more to be deducted from the first payment. KBRA Analytics is the identified incumbent vendor and current service provider for this monitoring subscription. The contract requires integration with IHDA's existing infrastructure and processes, as IHDA has maintained a continuous subscription relationship with KBRA Analytics for the KFI Lite service. The annual subscription fee for the KFI Lite package is $9,850, with invoices to be delivered by mail to IHDA's address at 111 East Wacker Drive, Suite 1000, Chicago, Illinois 60601. Invoices for services through June 30 must be submitted by July 31 in accordance with the Illinois Prompt Payment Act. The contract is subject to Illinois law, and disputes fall under the exclusive jurisdiction of the Illinois Court of Claims. The State retains the right to terminate the contract for cause immediately or for convenience with thirty days' notice and reserves the right to terminate without penalty if appropriated funds are insufficient or withheld by the Illinois General Assembly.