Salt Lake City Request for Proposals SLCI26083 Arbitrage Compliance Computation Services

Salt Lake City Corporation and the Community Reinvestment Agency of Salt Lake City seek a qualified contractor to provide arbitrage compliance computation services for tax-exempt bonds issued by the City, Department of Public Utilities, and Community Reinvestment Agency in accordance with IRS regulations. The primary deliverables include determining bond funds subject to arbitrage rebate, collecting and analyzing investment data, calculating bond yield on a fiscal year basis (July 1 through June 30), calculating arbitrage rebate liability under Section 148(f) of the Internal Revenue Code, preparing IRS Form 8038-T with transmittal letters, and performing anniversary arbitrage rebate calculations throughout the agreement term. The contractor must provide detailed reports with supporting documentation, executive summaries, and schedules identifying critical information by bond issue; verify rebate requirement applicability; identify and account for gross proceeds including transferred proceeds and commingled funds; provide legal opinions or CPA assurance letters regarding calculation results; maintain cumulative records for three years after final bond maturity; and coordinate with bond trustees while training City staff on arbitrage matters. Additional services include refund requests, swap analysis and monitoring, private use monitoring, investment of bond proceeds, and GIC bidding analysis as requested. Mandatory qualifications include a client list demonstrating arbitrage compliance services provided since January 1, 2025, certification that no retainer or minimum annual fee will be charged if services are not utilized in a given fiscal year, compliance with ethics standards, and registration with the Utah State Division of Corporations and Commercial Code prior to contract execution. The City will conduct a two-stage evaluation process with Stage 1 eliminating non-responsive submissions and Stage 2 ranking responsive submissions by perceived qualification; interviews or presentations may be established before final selection. Responses must be submitted electronically through the Utah Public Procurement Place (U3P) website by May 11, 2026, with no late submissions accepted.

The solicitation does not specify set-aside designations or restrictions limiting responses to particular entity types or disadvantaged enterprises. No incumbent vendors or current contractors are identified in the procurement documents. The contract excludes services for the Department of Airports and encompasses bonds issued by multiple City entities with total outstanding debt of approximately $1.36 billion across five debt categories as of June 30, 2026, providing a clear indication of the scope and complexity of the work required. The resulting contract will be awarded to a single responsive and responsible offeror and carries a five-year initial term commencing July 1, 2026, with the City retaining discretionary authority to extend for an additional four months through mutual written agreement. The contractor must guarantee pricing for the entire duration of the agreement, and cost information will not be accepted with initial proposals but will be negotiated separately following selection; all prices must remain firm for the full contract term. The total contract amount shall not exceed $75,000.00. The contractor must maintain comprehensive insurance coverage including workers' compensation, commercial general liability with a $1,000,000 per occurrence limit and $2,000,000 general aggregate, commercial automobile liability, and professional liability insurance with $1,000,000 per occurrence and annual aggregate limits for three years following completion of work.