REQUEST FOR PROPOSALS
Financial Advisory Services – Utility Undergrounding
RFP NO. 2009-06
The City of Del Mar (City) is requesting proposals from qualified financial
advisory firms to provide financial advisory services for two undergrounding
assessment districts, the North Hills Undergrounding Assessment District No.
2007-01 and the Sunset Undergrounding Assessment District No. 2007-02.
The required services include the issuance of one or two small debt issues,
assisting with calculation of assessments, refunds if required, and providing
certain financial information to members of the two assessment districts.
Questions related to this RFP must be directed in writing by email to Elle
Collver at firstname.lastname@example.org. Answers to questions will be compiled and
e-mailed in an Addendum to all registered proposal recipients.
Copies of the City's Request for Proposals and the proposed contract as
attached in Attachment A are to be used by all consultants. Consultants may
request the RFP documents to be sent via email, in Adobe PDF format, by
emailing a request to email@example.com. Please include the company
name, company contact, email address, mailing address and phone number.
Submittal Date and Instructions
Proposals must be e-mailed in pdf form to firstname.lastname@example.org by 4 p.m.
September 28, 2009.
E-mails should indicate Proposal Submitted in Response to RFP No. 2009-06
in the subject line.
Proposals received after four o’clock in the afternoon, PST (4:00 p.m., PST)
on Monday, September 28, 2009 will not be considered.
DESCRIPTION OF THE PROJECT
The City is currently in the project bid phase for two utility undergrounding
projects. Bids are being requested for projects on an individual basis, as
well as a combined basis, in the case that the award of both contracts to a
single contractor achieves economies of scale. The two districts are
adjacent, located on the east side of Camino del Mar, beginning at the south
end on Eighth Street with the North Hills District, and extending as far north
as Balboa Street, at the northern edge of the Sunset district. Maps of the
districts are available on the main page of the City’s website at
The North Hills Undergrounding District contains 302 parcels and has a
maximum cost estimate of about $5.5 million. The Sunset Undergrounding
District contains 135 parcels and has a maximum cost estimate of $2.5
million. The North Hills project is scheduled to begin construction in March
2010. Construction will proceed from the north edge of this district
southward until ingress/egress from this district can be established.
Construction may then begin in the Sunset District, which is estimated to
begin in July 2011.
Residents will be given an option to pay their assessment in cash, or have it
financed through a debt issue administered by the City. It is not known at
this time if both districts will be financed with a single debt issue, or if there
will be separate debt issues for each district. In the City’s most recent
undergrounding assessment district, 45 of 80 assessments were paid in
cash, with the rest financed through a debt issue.
Considerable information about the North Hills and Sunset Undergrounding
Assessment Districts can be found at the following location on the City’s
The City has retained Warren Diven of Best Best & Krieger, LLP as bond
counsel for the debt issue(s) and to provide legal advice on the district
formation and bond issuance.
Key Dates for Proposal Evaluation and Selection
Notice of RFP September 3, 2009
Last date for written questions on RFP September 17, 2009 (4 p.m.)
Response date for questions to RFP September 22, 2009
Due date for proposals September 28, 2009 (4 p.m.)
Interviews (if desired by City) Week of September 28, 2009
Selected firm notified Week of September 28, 2009
City Council approval of contract October 5, 2009