RFP PR2538-538-26 Financial Consulting Services

Background
The Norfolk Redevelopment and Housing Authority (NRHA) is a political subdivision of Virginia, focused on providing public and affordable housing services to low-income families in Norfolk, VA. NRHA is primarily funded by the U.S. Department of Housing and Urban Development (HUD) and manages a diverse portfolio that includes public housing, housing choice vouchers, mixed-finance properties, and capital fund program investments. The goal of this contract is to secure professional financial consulting services that align with HUD regulations and enhance NRHA's financial sustainability.

Work Details
The selected Financial Consultant will provide strategic, regulatory, and operational financial support through the following scope of work:

1. **Financial Planning & Asset Management**: Develop financial projections at both Authority-wide and Asset Management Project levels; conduct portfolio-level assessments; perform scenario modeling; evaluate cost allocation methodologies.

2. **HUD Compliance & Reporting**: Ensure compliance with HUD regulations including Public Housing Operating Fund Program and Uniform Administrative Requirements; prepare or review Financial Data Schedules; improve REAC financial indicator scores.

3. **Internal Controls & Financial Systems**: Conduct internal controls assessments; recommend improvements in procurement oversight and financial reporting workflows; evaluate existing financial software for enhancements.

4. **Development, RAD & Capital Finance**: Provide advisory for RAD conversions and mixed-finance transactions; assist with development pro formas and debt structuring.

5. **Capital Fund & Infrastructure Planning**: Support CFP planning compliance; assist in preparing Energy Performance Contract financial models.

6. **Cash Flow & Treasury Management**: Develop cash flow projections; monitor liquidity across programs; recommend strategies for optimizing reserves.

7. **Debt, Financing & Partnerships**: Analyze existing debt obligations; structure financing packages involving bonds or loans; support negotiations with lenders.

8. **Audit & Risk Management**: Prepare for annual audits; address audit findings; conduct risk assessments.

9. **Training & Capacity Building**: Provide training on HUD compliance updates and asset management best practices.

Period of Performance
The initial contract period is expected to be between 12 to 24 months, with the possibility of extension for an additional 2 to 3 years based on service needs, contractor performance, and available funding.

Place of Performance
The contract will be performed in Norfolk, Virginia.

Bidder Requirements
Offerors must comply with specific requirements including maintaining insurance coverage throughout the contract duration as specified in the RFP. This includes Workers’ Compensation, Employer’s Liability, Commercial General Liability, Automobile Liability, and Errors and Omissions Liability coverage. Additionally, bidders must provide proof of registration with the Virginia State Corporation Commission if applicable.