The Office of the City Treasurer ("CTO") is requesting proposals from qualified institutions to serve as Municipal Advisors ("MAs") for the City of Philadelphia (the "City"). The City would like to se...

The City of Philadelphia's Office of the City Treasurer is soliciting proposals from qualified institutions to serve as Municipal Advisors, with questions due November 12, 2026 and proposals due by 5:00 p.m. Philadelphia time on December 14, 2026. Local-business status is a significant evaluation factor, and the Office of Economic Opportunity has set zero percent participation ranges for SBEs and LBEs, but respondents must still document best and good faith efforts to include them.

Respondents must complete the Solicitation & Participation Form (Appendix B (2)), listing every SBE and LBE solicited, the scope assigned, dollar allocations, and supporting quotations. Failure to submit the form may result in rejection as non-responsive, and listed SBEs and LBEs must be certified at contract award. Applicants may request local consideration by certifying as a Local Business Entity under Mayoral Executive Order 04-12 (Appendix D) or by committing to employ City residents and perform the work within the City. Completing the LGBTQ Applicant Opportunity Data Form (Appendix E) is voluntary.

The scope covers advisory support for General Obligation Bonds, Tax and Revenue Anticipation Notes, other tax-supported bonds, Philadelphia Water Department revenue bonds, Philadelphia Gas Works revenue bonds, and Department of Aviation airport revenue bonds and commercial paper. Firms must be registered with the MSRB and the SEC. A broker/dealer must fully separate its advisory practice from brokerage operations, and selection precludes underwriting for the selected credits. Applicants must submit fixed-price fee proposals confirming fees will not increase over four years, and the contract will carry a maximum compensation amount. The initial term runs July 1, 2027 through June 30, 2028, with the City holding options for up to four additional one-year terms. Required insurance includes professional liability with minimum limits of $1,000,000. Contracts exceeding $250,000 require equal benefits for employees' life partners, and contractors must comply with the 21st Century Minimum Wage and Benefits Standard.

Evaluation criteria include ability to meet requirements, relevant experience, quality of proposed solutions, skill and reputation, local impact or LBE status, and cost. Answers to questions post November 23, 2026, selection is anticipated the week of February 22, 2027, and work begins July 1, 2027. Submissions go through the eContractPhilly portal and must include Appendix C (Tax and Regulatory Status and Clearance Statement) and a Statement of Financial Capacity.