July 13, 2012
Kentucky Housing Corporation
Request for Proposal (RFP)
Program and Management Advisory Services
Kentucky Housing Corporation (“KHC”) is requesting proposals from multi-disciplinary firms to
provide program and management advisory services to KHC from the date of execution of the
engagement letter to Sunday, June 30, 2013. KHC is the state housing finance agency and a
political subdivision of the Commonwealth of Kentucky. Created by the General Assembly in
1972, KHC’s mission is to provide safe, quality, affordable housing opportunities for very low-,
low-, and moderate-income Kentuckians.
The firm selected will develop a comprehensive plan to provide safe, quality, affordable
multifamily housing for Kentuckians and issue a written report containing the plan. The
comprehensive plan will provide risk/reward analyses of potential multifamily housing programs
and financing options, including the various stages of a multifamily housing project (i.e.,
construction and in service) and the financing vehicles available. The comprehensive plan will
include timelines for a potentially multifaceted program implementation, and comprehensive
communications and marketing plans.
Scope of Work
The firm engaged to perform program and management advisory services for KHC will be
responsible for making program recommendations and issuing a final report that includes:
A. Considering the available federal resources, such as the Housing and Urban
Development (HUD) risk sharing and MAP lending programs in the analysis
of KHC’s options.
B. Partnering with public or private entities to develop multifamily properties or
finance multifamily properties.
C. Identifying targets of opportunity, e.g., single parent, military personnel,
elderly, inner city, rural, etc., with an appropriate strategy for each.
D. Assessing KHC’s strengths and weaknesses specific to recommended
new/expanded multifamily housing programs.
E. Identifying start up costs, equity needs, financing options, financial and
operational risks, personnel requirements, documentation requirements, and
compliance requirements needed for the various program options.
F. Advising KHC on needed policies, procedures, forms, risk mitigation
strategies, and, if necessary, legislative changes to implement the
G. Encompassing detailed timelines for the implementation phases.
H. Incorporating a comprehensive communications plan and marketing strategy.
The comprehensive plan must consider all facets of multifamily project development and
financing, and be flexible enough to apply to geographically and population diverse areas of the
Commonwealth. Acceptable projects could include rehabilitation and new construction; be it
stand-alone or part of a larger development.
The successful party will provide analyses of trends in multifamily housing (project size, scope,
form, population, unit configuration, financing, etc.) that demonstrates knowledge of current and
foreseeable needs, and make recommendations to KHC that reflect the analyses’ conclusions
combined with an understanding of KHC’s mission and resources.
The comprehensive plan report must provide comparisons/best practices of other affordable
multifamily housing providers and provide examples of how KHC might apply these practices in
developing and implementing a comprehensive multifamily housing program.
Upon the award of the contract, the vendor will meet with KHC to discuss the project, interview
key staff, and present a work plan for preparing the comprehensive plan. The vendor will
identify third parties to interview in performing its analysis and notify KHC in advance of the
parties to be interviewed. The vendor will meet periodically with KHC to discuss progress in
preparing its report and will present KHC with a draft report for review, clarification, and
comments before finalizing the report. The vendor will present its final written comprehensive
plan report to KHC management and Board of Directors, and be available for questions on its
findings and recommendations.
Please note, the services to be provided are not related to a specific issuance of bonds nor are the
fees payable from the proceeds of bonds. The services to be provided are not intended to be of
the nature of a “financial advisor,” as described under the Commonwealth of Kentucky’s
procurement statutes, although the Securities and Exchange Commission definition of
“municipal advisor” may apply.
Payment of fees for the services provided will require execution of a Personal Services Contract.
CRITERIA FOR SELECTION:
Required Components of Proposal
Each response to the RFP must include and address the following items. Failure to comply
with the requirements of the RFP will result in the firm’s response not being evaluated by
1. Identify specific individuals who will be assigned to work with KHC and describe
their experience with housing finance/development. Include résumés for each
person, as well as name, address, and telephone number of the contact person.
Should KHC elect to conduct oral interviews and the Offeror is selected for an oral
presentation, only those individuals listed may participate. KHC must approve any
changes in the staff assigned to perform work under the Personal Service Contract.
2. List finance or housing related authorities for which Offeror has performed similar
work as a consultant. List any significant accomplishments or contributions worth
noting that Offeror made as a result of the engagement.
3. Disclose whether Offeror is registered as a Municipal Advisor with the Securities
and Exchange Commission and the Municipal Securities Rulemaking Board.
4. Provide examples of how Offeror has performed the items listed above under Scope
of Work in other engagements, and how Offeror would achieve these requirements
5. Indicate how Offeror would handle potential conflicts of interest in matters
involving other clients, e.g., underwriters or developers, participating or planning to
participate with KHC in a proposed financing.
6. Indicate any ‘other costs’ that KHC could anticipate, other than those listed under
Fee Proposal below, if Offeror is selected.
7. Describe Offeror’s availability and degree of accessibility to KHC.
8. Detail any criminal investigation, indictment, prosecution, or other proceeding that
has ever been brought against Offeror (provide attachments, if necessary). Also
describe any civil litigation pending or concluded within the last three years against
Offeror that would impair the firm’s ability to program and management advisory
services to KHC (please provide attachments, if necessary).
9. Provide three references with whom Offeror has worked and the relevance of the
reference to KHC. Please indicate name, position, address, phone and fax, or e-mail
addresses of the reference, and how this reference provides strength to your
10. Provide a list of professional organizations/associations in which Offeror or a
principal is an active member and which benefit KHC.
11. Indicate why you think Offeror would be the best choice to provide program and
management advisory services to KHC.
1. Verification that Offeror is licensed to perform business in the Commonwealth and
operates an office located in the Commonwealth. Offeror must be active and in good
standing with the Secretary of State for KHC to enter into a contract with Offeror.
Respondent must provide evidence of certification that the respondent is qualified to do
business in the Commonwealth of Kentucky. For more information regarding registered
agent and registered office see http://www.sos.ky.gov.
2. Disclose any prior commitment of Offeror, which could interfere with or result in a
conflict of interest for Offeror, should Offeror be engaged to perform program and
management advisory services for KHC.
3. As part of the application certification, Offeror acknowledges that the application and all
materials submitted constitute public records within the meaning of the Kentucky Open
Records Act (Kentucky Revised Statutes 61.870 to 61.884). Offeror further
acknowledges and agrees, as part of the application certification, that KHC will not treat
any part of the application and submissions as a record that is not subject to release to the
public, unless such material is segregated and clearly designated (by Offeror) as eligible
for an exemption pursuant to Kentucky Revised Statutes § 61.878. Otherwise, KHC will
make such material available for inspection and/or copying upon the written request of
any person. As part of the application certification, Offeror further acknowledges and
agrees that even material which is so segregated and designated may become subject to
release upon a successful challenge by a member of the public.
4. Submit a Completed “Certification of Independent Contractor” form (included below).
5. Funding Out Provision: KHC may terminate this contract if funds are not appropriated or
are not otherwise available for the purpose of making payments without incurring any
obligation for payment after the date of termination, regardless of the terms of the
contract. KHC will provide Offeror 30 calendar days’ written notice of termination of
6. Access to Records: Offeror agrees that KHC, the Finance and Administration Cabinet,
the Auditor of Public Accounts, and the Legislative Research Commission, or their duly
authorized representatives, shall have access to any books, documents, papers, records, or
other evidence, which are directly pertinent to this contract for the purpose of financial
audit or program review. Records and other prequalification information confidentially
disclosed as part of the bid process shall not be deemed as directly pertinent to the
contract and shall be exempt from disclosure as provided in KRS 61.878(1)(c). Offeror
also recognizes that any books, documents, papers, records, or other evidence, received
during a financial audit or program review may be subject to the Kentucky Open Records
Act, KRS 61.870 to 61.884.
7. Violation of tax and employment laws: KRS 45A.485 requires Offeror to reveal to KHC,
prior to the award of a contract, any final determination of a violation by Offeror within
the previous five-year period of the provisions of KRS chapters 136, 139, 141, 337, 338,
341, and 342. These statutes relate to the state sales and use tax, corporate and utility tax,
income tax, wages and hours laws, occupational safety and health laws, unemployment
insurance laws, and workers compensation insurance laws, respectively.
8. To comply with the provisions of KRS 45A.485, Offeror shall report any such final
determination(s) of violation(s) to KHC by providing the following information regarding
the final determination(s): the KRS violated, the date of the final determination, and the
state agency which issued the final determination. KRS 45A.485 also provides that, for
the duration of any contract, Offeror shall be in continuous compliance with the
provisions of those statutes which apply to Offeror's operations, and that Offeror's failure
to reveal a final determination as described above or failure to comply with the above
statutes for the duration of the contract, shall be grounds for KHC's cancellation of the
contract and Offeror's disqualification from eligibility for future state contracts for a
period of two years.
Provide a fee proposal, as an attachment, for work to be performed during the contract period.
The fee proposal is to include a schedule of the different classification of employees to work on
the engagement, their hourly charge and the estimated percent of the engagement each will
perform. Also include a brief narrative of other similar engagements and cost. The firm selected
will be remunerated based on the fee schedule in the engagement letter, which will be based on
the fee schedule submitted in response to this request.
Each response to this RFP must include and address each of the above items. Failure to
comply with the requirements of this RFP will result in the response not being evaluated.
Relative Importance of Particular Qualifications
Relevant Experience 30 Points
Staffing and Technical Support, 50 Points
Availability, Expertise and
Fee Proposal 20 Points
Reservation of Rights
KHC reserves the right to:
A. Request necessary amendments to the RFP.
B. Reject any proposal not meeting mandatory requirements.
C. Reject all proposals, seek new proposals, and/or cancel the RFP according to the
best interests of the Corporation.
D. Make investigations regarding qualifications of any or all respondents as the
Corporation deems necessary.
E. Hold payments for any Personal Service Contract unless or until the individual,
firm, partnership, or corporation awarded the Personal Service Contract submits
its invoice for payment on the form established by the Government Contract
Review Committee. Invoice form will be provided to the selected Offeror(s).
F. KRS 45A.695(7) provides that payments on Personal Service Contracts and
Memoranda of Agreements shall not be authorized for services rendered after
Government Contract Review Committee disapproval, unless the decision of the
Committee is overridden by the Secretary of the Finance and Administration
Cabinet or agency head, if the agency has been granted delegation authority by
G. Reduction in Contract Worker Hours: The Kentucky General Assembly may
allow for a reduction in contract worker hours in conjunction with a budget
balancing measure for some professional and non-professional service contracts.
If, under such authority the agency is required by Executive Order or otherwise to
reduce contract hours, the contract will be reduced by the amount specified in that
In no event shall any obligations of any kind be enforceable against KHC unless and until a
written agreement is entered into.
A. Any resulting Personal Service Contract must comply with all applicable provisions of
KRS Chapter 45A prior to becoming effective.
B. Work performed under this Personal Service Contract will be during the 2013 fiscal year.
A committee will review and evaluate proposal submissions and assign a numerical evaluation to
each proposal submitted. Based upon the outcome of the numerical evaluation, oral interviews
may be conducted with Offeror(s) of the highest-ranking proposals. Following these procedures,
staff recommendations will be presented to KHC’s Board of Directors for their consideration and
Any questions posed by respondents prior to the interview phase of the process must be
submitted in writing or by electronic mail to KHC’s Chief Financial Officer, Donna E. Duncan
(email@example.com), who will determine whether the response could have a material
effect on the respondent’s proposals. If so, both the question and response will be posted on
KHC’s Web site; therefore, offerors are advised to regularly check www.kyhousing.org for
updates. If the response is not deemed to have a material effect on the respondent’s proposals,
the response will be made only to the questioner. In either case, the file will be documented to
reflect the result.
Once a Personal Service Contract is executed, the contract will be processed through the
Government Contract Review Committee of the Legislative Research Commission in accordance
with KRS 198A.040(22).
Review committee members and RFP respondents shall have no contact, verbal or written,
regarding the RFP prior to the interview phase of the process except as provided above.
KHC shall not be liable for:
A. Any costs incurred by the Offeror in the preparation of any proposal.
B. Any costs incurred by the Offeror in connection with any interview or negotiation
relating to this RFP, i.e., travel, accommodations, etc.
C. Any disclosure, whether by negligence or otherwise, of any material or information in
any form submitted by any Offeror in response to this RFP.
Five copies of your proposal must be received at KHC’s corporate office by 12 noon, ET, on
August 3, 2012. Proposals received after the stated deadline will NOT be accepted. Faxed
or electronic copies will NOT be accepted.
Please direct the proposals to the attention of:
Donna E. Duncan
Chief Financial Officer
Kentucky Housing Corporation
1231 Louisville Road
Frankfort, Kentucky 40601
ATTACHMENT: Kentucky Housing Corporation Certification of Independent Contractor
KENTUCKY HOUSING CORPORATION
CERTIFICATION OF INDEPENDENT CONTRACTOR
I hereby certify that the information contained in these qualifications and any attachments is true
and correct and may be viewed as an accurate representation of proposed services to be provided
by this organization. I acknowledge that I have read and understood the requirements and
provisions of the RFP.
I ________________________________ am the __________________________________ of
(Type name of signatory authority) (Title or position)
the corporation, partnership, association, or other entity named as company and respondent
herein, and I am legally authorized to sign this and submit it to Kentucky Housing Corporation
on behalf of said organization.
Signed: ________________________________ Date: ________________________________
Name: ________________________________ Title: ________________________________
Firm name: __________________________________________________________________
Violation of tax and employment laws:
KRS 45A.485 requires the contractor to reveal to the Commonwealth, prior to the award of a
contract, any final determination of a violation by the contractor within the previous five-year
period of the provisions of KRS chapters 136, 139, 141, 337, 338, 341, and 342. These statutes
relate to the state sales and use tax, corporate and utility tax, income tax, wages and hours laws,
occupational safety and health laws, unemployment insurance laws, and workers compensation
insurance laws, respectively.
To comply with the provisions of KRS 45A.485, the contractor shall report any such final
determination(s) of violation(s) to the Commonwealth by providing the following information
regarding the final determination(s): the KRS violated, the date of the final determination, and
the state agency which issued the final determination.
KRS 45A.485 also provides that, for the duration of any contract, the contractor shall be in
continuous compliance with the provisions of those statutes which apply to the contractor's
operations, and that the contractor's failure to reveal a final determination as described above or
failure to comply with the above statutes for the duration of the contract, shall be grounds for the
Commonwealth's cancellation of the contract and the contractor's disqualification from eligibility
for future state contracts for a period of two years.
Contractor must check one:
_____ The contractor has not violated any of the provisions of the above statutes within the
previous five-year period.
______ The contractor has violated the provisions of one or more of the above statutes within
the previous five-year period and has revealed such final determination(s) of violation(s). A list
of such determination(s) is attached.