Request for Proposals Low Income Housing Tax Credit Accounting and Compliance Services

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1 Request for Proposals Low Income Housing Tax Credit Accounting and Compliance Services Due September 7, :15 am HOUSING AUTHORITY of The CITY of PASSAIC 52 Aspen Place Passaic, New Jersey (973) (973) Fax

2 Legal Advertisement REQUEST FOR PROPOSALS The Housing Authority of the City of Passaic is seeking proposals for Low Income Housing Tax Credit Accounting and Compliance Services. All services must be in accordance with the existing laws, rules, orders, directives and regulations governing these services. Interested parties should Lismarie Guerrero at or call in order to receive a copy of the formal Request for Proposals. The RFP specifies the scope of the services and the requirements for submitting proposals. Proposals are due in an original and two copies submitted to the office of the Housing Authority of the City of Passaic, 52 Aspen Place, Passaic, New Jersey on or before 10:15 am (prevailing time) Wednesday, September 7, NO LATE PROPOSALS WILL BE ACCEPTED. All proposals should be submitted in three (3) copies and must be enclosed in a properly sealed envelope bearing on the outside the name of the bidder and the words: "RFP LIHTC Accounting and Compliance Services. The Housing Authority reserves the right to reject any and all proposals and to waive any informality. No proposal may be withdrawn for a period of sixty (60) days without written consent of the Authority. This solicitation is being made in accordance with the New Jersey Local Unit Pay to Play law (NJSA 19:44A 20.4 et seq.) as a fair and open process. Date: August 17, 2016 By: Lismarie Guerrero For: Victor Cirilo Executive Director

3 INTRODUCTION The Housing Authority of the City of Passaic will accept informal proposals from qualified companies for Low Income Housing Tax Credit Accounting and Compliance Services for its senior citizen housing stock. Passaic Senior Housing LLC is a limited liability company managed by the Housing Authority of the City of Passaic. The Housing Authority is seeking proposal from an experienced company in low income housing tax credits (LIHTC) accounting and Federal/State tax credit compliance to perform these functions for Passaic Senior Housing LLC. The housing stock consists of 130 units scattered at three (3) sites. Harry K. Hecht Apartments located at 299 Gregory Avenue, John J. Murphy Apartments located at East Monroe Street and Maurice Miller Apartments located at Ascension Street. Harry K. Hecht Apartments and John J. Murphy Apartments are 50 unit high rise buildings. Maurice Miller Apartments is a 30 unit low rise. I. QUALIFICATIONS REQUIREMENTS FOR FEE ACCOUNTANT 1. Firms submitting a proposal must provide the Authority with resumes of the individuals, which would be involved with Authority accounting business. 2. Firm/Individual must be a Certified Public Accountant (C.P.A.) licensed by the State of New Jersey. 3. Firm/Individual must submit a statement indicating that the firm/individual is not debarred, suspended or otherwise prohibited from professional practice by any federal, state or local agency. 4. Provide at least three (3) references including contact person, telephone numbers of Housing Authority s for which similar services have been performed. 5. Knowledge of Tenmast Software or similar automated accounting system.

4 II. GENERAL INFORMATION 1. Conventional Operation Number of Units 130 Total Operating Expenses $ 1,000,000 approx. 2. Approximately 5 full time employees 3. Conventional Units located in three (3) sites within the City of Passaic The Finance Department of the Housing Authority includes a Director of Finance, a bookkeeper, one payroll clerk, and one computer specialist. III. SCOPE OF SERVICE 1. The Consultant will provide all accounting services necessary to prepare and timely provide Federal and state tax returns. 2. The Consultant may provide hourly general accounting services beyond the tasks described above, if and as requested and mutually agreed-upon. 3. Assist in the preparation of monthly financial reports as needed. 4. Assist in preparing annual operating budget and required revisions including all schedules as needed. 5. Assist in the preparation of the State operating budget introduced and approved budget as needed.. 6. Other duties as requested by the Executive Director IV. FEE 1. Submit an hourly rate for services $ Hourly Rate Expected Reimbursements:

5 EVALUATION PROCESS The Housing Authority of the City of Passaic will evaluate all timely responses on the following criteria and weights: Points A. Experience 0-40 B. Fee/Hour 0-50 C. Proximity to the PHA 0 05 D. MBE Status 0-05 Total 100

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