RFP for Services related to the preparation of an application for an allocation of New Market Tax Credits

The Heartland Regional Investment Fund, LLC (“HRIF”) is a certified Community Development Entity, created by the St. Louis Economic Development Partnership (the “Partnership”), the Southwestern Illinois Development Authority, and the City of St. Charles, Missouri. Organized in 2010, HRIF was created to be a catalyst for equitable and inclusive community development within St. Louis’ highly distressed suburban low-income communities just beyond the urban core – specifically, St. Louis County and the City of St. Charles in Missouri; and Madison, St. Clair, Clinton, and Bond counties in Illinois (the “Service Area”).

Scope of Services

The firm selected would work closely with and at the direction of Partnership staff in providing the Application Services. Generally, the Application Services would require the successful firm or firms to (1) assist with the preparation of HRIF’s application for the 21st NMTC Application Round, including: accurate responses to all elements of the application form; summaries of prior performance and investments; projected business activities, investment, and development strategies; forecasts for new investments, economic activity, and job creation; anticipated community impact; strategy for program compliance; capitalization strategy; letters of support; investment commitments; and all other information and supporting documents necessary to secure a NMTC allocation; and (2) advise HRIF, as needed, on a variety of other issues that may enhance its application for the 21st NMTC Application Round, including: appropriate products, services and investment criteria; appropriate type and mix of Qualified Low Income Community Investments; targeted investment areas; potential pipeline projects; flexible and innovative investment strategies; additional development incentives and other sources of financing that may be available.

More specifically, the Application Services to be provided pursuant to this RFP may include, but are not necessarily limited to, the following:

NMTC Consultation: Post-winning 2021 Award and 21st Round Application Strategy
Consult on community needs, project/pipeline selection, framing and messaging strategy to help translate and implement HRIF investment strategy into strong 21st Round NMTC application.
Key tasks may include, but are not limited to, the following:

  • Review winning 2021 allocation to provide ongoing consultation and support for selection of projects “in process,” in order to implement narrative and investment strategy and strengthen application for the 20th NMTC Application Round.
  • Build/refine HRIF messaging strategy to incorporate findings and strategic threads to highlight track record, pipeline, and impact throughout entire application.
  • Consult with Partnership staff on NMTC business strategy and pipeline considerations to craft an application that accomplishes CDFI and HRIF economic development objectives.
  • Advise/assist Partnership staff to contextualize data and impact.
  • Provide immediate and ongoing consultation throughout application process as needed; generally, weekly conference calls to share/discuss findings.

Strategic Communications/Content Development and Support

Provide tactical communications support to include narrative writing, editing, and/or interviewing, as needed, to strengthen strategic direction and provide resource support.

Key tasks may include, but are not limited to, the following:

  • Serve as liaison on behalf of HRIF to collect insight or data from third parties via interviews or other forums to help inform project selection and/or strengthen the application narrative for the 21st NMTC Application Round.
  • Write narrative sections for the application (e.g., Executive Summary; key responses from Sections 1 or 2, draft new responses to implement 21st Round NMTC business and framing strategy as determined with Partnership staff and writing schedule).
  • Content review and editorial updates on Sections 3-5 of the application to ensure consistency with messaging, business strategy, and pipeline.
  • Review and proofread entire application in a timely manner, as requested by Partnership staff, to ensure consistency in content, data, voice, and message.

Project Management
Lead, manage, and facilitate all 21st Round NMTC application related activities.
Key tasks may include, but are not limited to, the following:

  • Organize, schedule, and facilitate weekly or biweekly update calls with Partnership staff.
  • Create a project schedule and generate a “to-do” list of needed materials and information required of Partnership staff. This list should be updated regularly.

See full RFP here.

Proposals Due By:
Friday, June 14, 2024 by 3:00 PM Heartland Regional Investment Fund, LLC
c/o St. Louis Economic Development Partnership
Attn: Missy DeMarco
120 S. Central Ave, Suite 200
Saint Louis, Missouri 63105
[email protected]