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P26000513 Credit Facility for Bond Recycling of Multifamily T.E. Loans

General Information
Solicitation Number
P26000513
Status
Released
Department
Business, Economic Development, & Tourism
Division
Hawaii Housing Finance and Development Corporation
Islands (where the work/delivery is to be performed)
Statewide
Category
Services
Release Date
09/12/2025
Offer Due Date & Time
10/31/2025 04:00 PM
Description
The Hawaii Housing Finance and Development Corporation ("HHFDC"), a body
corporate and public instrumentality of the State of Hawaii, is soliciting proposals
from qualified financial institutions to provide a revolving credit facility to support
the recycling of private activity bond proceeds originally used for short-term
multifamily tax-exempt loans.

The purpose of this credit facility (the "Facility") is to maximize the use of
Hawaii's private activity bond volume cap by enabling HHFDC to re-use proceeds
from repaid loans for new multifamily housing loans, in accordance with federal
tax regulations and Act 253, SLH 2023.

Borrowings under the Facility will occur at the time of repayment of certain loans
made under HHFDC’s tax-exempt lending programs. The cash repayments will
be deposited in a segregated pledged account that will secure a related
borrowing under the Facility. The Facility is under HHFDC’s General Obligation.
Please see Appendix B for a chart further describing the purpose and use of the
Facility.

This RFP may be amended, postponed, or canceled at any time if determined to
be in the best interest of HHFDC. HHFDC also reserves the right to reject any
and all submissions.
Contact Person
Rapoza, Jon
Email
jonathan.rapoza@hawaii.gov
Phone
808-587-3455
General Comments
Fore more information download the RFP Packet and Attachments.
Procurement Officer
Dean Minakami
Attachments
RFP 26 002 FIN-RFP 26 002 FIN Document.pdf
AG-008 103D General Conditions (1.10.23).pdf

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Direct all questions regarding this Solicitation, and any questions or Issues relating to the accessibility of this Solicitation (Including the appendices and exhibits to this Document, and any other document related to this Solicitation), to: Rapoza, Jon.

P26000513 Credit Facility for Bond Recycling of Multifamily T.E. Loans

Line Items
#
Title
Quantity
Unit of Measure
Commodity Code
 

1
Grand Total Quote
1
JOB
522292 

Code Table
Commodity Code Description
522292 Real estate credit lending
General
Quantity
1
Unit of Measure
JOB
Title
Grand Total Quote
Description
Total Bid Amount
Attachments

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Direct all questions regarding this Solicitation, and any questions or Issues relating to the accessibility of this Solicitation (Including the appendices and exhibits to this Document, and any other document related to this Solicitation), to: Rapoza, Jon.

P26000513 Credit Facility for Bond Recycling of Multifamily T.E. Loans

Instructions
  • QUESTIONS ABOUT THIS SOLICITATION: Unless otherwise indicated, questions regarding this solicitation must be directed to the Buyer listed.
  • TRANSACTION FEES: The awarded vendor shall pay a transaction fee of 0.75% (.0075) of the award, not to exceed $5,000 for each award. This transaction fee shall be based on the original award amount and the awarded vendor shall be responsible for payment of the fee to Tyler Hawaii, the vendor administering the HIePRO. Payment must be made to Tyler Hawaii within thirty (30) days of receipt of invoice. The invoice is generated based on the date the award is posted.
  • RESPONSE TO THIS SOLICITATION: Only responses submitted through HIePRO shall be considered for award.
  • VENDOR REGISTRATION IN HAWAII COMPLIANCE EXPRESS (HCE) : Vendors can register at https://vendors.ehawaii.gov/hce via an annual subscription fee and should subscribe prior to responding to a solicitation. For more information visit the HCE Section of the FAQs at http://spo.hawaii.gov/faqs/#tabs-4.
  • VENDOR COMPLIANCE – PAPER DOCUMENTS : Vendors not utilizing HCE shall provide paper certificates that must be valid at the time of award. All applications for applicable clearances are the responsibility of the vendor, who must be compliant pursuant to HRS§103D-310(c) with the chapters 1) Chapter 237, General Excise Tax Laws; 2) Chapter 382, Hawaii Employment Security Law; 3)Chapter 386, Worker’s Compensation Law; 4) Chapter 392, Temporary Disability Insurance; 5)Chapter 393, Prepaid Health Care Act; and 6) §103D-310(c), Certificate of Good Standing (COGS) for entities doing business in the State. Upon receipt of compliance paper documents (A-6, LIR#27, COGS), the purchasing agency reserves the right to verify their validity with the respective issuing agency.
  • OFFER DEEMED FIRM/AUTHORITY TO SUBMIT OFFER: Submission of an electronic response to the State of Hawaii constitutes and shall be deemed an offer to sell the specified goods and/or services to the State of Hawaii at the price shown in the response and under the State's Terms and Conditions. The electronic response submitter certifies that he/she is authorized to sign the response for the submitting vendor and that the response is made without connection with any person, firm, or corporation making a response for the same goods and/or services and is in all respects fair and without collusion or fraud.
  • COMPLIANCE AND DOCUMENTATION: Vendors are required to be compliant with all appropriate state and federal statutes. Proof of compliance is required through HCE or via paper documentation.
  • ADDITIONAL FEES AND CHARGES: Vendors shall include all applicable fees, charges, surcharges, shipping/handling, delivery, or any other charges associated with this solicitation in the price submitted.
  • VENDOR NON-COMPLIANCE : NON-COMPLIANCE may result in a vendor not receiving an award, delay of payment, or cancellation of award. If the vendor does not maintain timely compliance, which is the vendor’s responsibility, an offer otherwise deemed responsive and responsible may not be awarded. State agencies may check for compliance at any time.
  • HAWAII GENERAL EXCISE TAX (GET): Unless otherwise stated in this solicitation, vendors shall include all applicable taxes in the price submitted. The Hawaii General Excise Tax (GET) shall not exceed 4.712% for the islands of Oahu, Kauai , Hawaii, and Maui.