Active SLED Opportunity · VERMONT · VERMONT
AI Summary
CVRPC seeks a financial institution to provide loan underwriting, servicing, and financial product design advice for a $1 million EPA-funded Brownfields Revolving Loan Fund to support environmental remediation and redevelopment projects in Vermont.
CVRPC secured a $1 million FY25 Revolving Loan Fund (RLF) Grant from EPA under the Infrastructure Investment and Jobs Act (IIJA), which will capitalize a permanent fund for the remediation and redevelopment of eligible brownfield sites within the region. This RLF will fund cleanup projects that benefit residents by reducing exposure to contaminants, create safe and affordable housing, generate job opportunities in newly created or retained commercial space, incorporate flood resilience, or create public open space. While all eligible projects will be considered, CVRPC will use its RLF to provide discounted and flexible loan terms (in addition to grants) to meet these goals, prioritizing projects that provide clear tangible public benefits and would not be possible without advantageous financing. CVRPC is issuing this Request for Proposals with the intent of selecting a qualified financial institution to provide loan underwriting, loan servicing, and advice in financial product design for the CVRPC Brownfields Revolving Loan Fund. The selected financial institution will provide guidance and financial oversight that considers the differing needs and capabilities of RLF loan applicants, which may include municipalities, nonprofits, and for-profit entities; unique and sometimes limited financial assets; varying levels of financial risk; and a range of experience in real estate development, environmental remediation, and financial management. A successful RLF program will serve all these needs and remain flexible to accomplish its goals.
SLED stands for State, Local, and Education. These are solicitations issued by state governments, counties, cities, school districts, utilities, and higher education institutions — as opposed to federal agencies.
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