Reference Number: 22018099
Request ID:
Date First Offered12/01/2006
Title:Financial Advisor/Amendment

Agency Reference Number:IFA0900060
Agency:IFA - Illinois Finance Authority
Purchasing Agency:IFA - Illinois Finance Authority
Purchasing Agency SPO:Janis Sinisi

Status: Closed


Description and Specifications:
For a period of approximately 45 days, IFA desires to increase the volume and scope of work and price to be commensurate with scope. IFA initially had two vendors performing the task of Senior Financial Advisor. Other vendor contract ended 9/30/09 and also ceased doing business. IFA intends to procure new vendors via new solicitation by 12/31/09.

This procurement is time-sensitive and critical to the mission of the agency as the financial advisor provides the Member of the Board with detailed information about future and existing projects to be considered for approval at the November and December Board meetings. Until additional Financial Advisors can be secured, through a new solicitation, which has been approved by CMS and is awaiting GOMB approval, the current vendor can readily assume the large volume of work and projects that require the attention of a Senior Financial Advisor. These changes are germane to the current contract and reasonable in scope and cost in relation to the original contract. This is an extension through 12/31/09 to include time, scope and value.
Vendor currently responsible for: Healthcare, Energy, Housing, Cultural & Social Services in addition to special projects.
For amendment, vendor will assume the following projects: review agendas and credit sessions, financial advisor services for review for the following projects: participation loans and project restructuring, local government bond and loan issues including the anticipated November, 2009 local government bond pool, agricultural guarantees and all non-healthcare 501(c)(3) conduit bonds and leases.
The old contract amount was for $124,000. Additional amount for $30,000. IFA currently has an average of 7 projects for review each month.

Key Information

Notice Type:Sole Economically Feasible Source
Notice Stage:
<Select Notice Stage>

Notice Expiration Date:11/11/2009
Sole Source Only Justification:Through a previous solicitation IFA contracted with two vendors as Senior Financial Advisor.
This vendor was one of two originally selected through a solicitation process in 2006. The contract of the other vendor recently ended and the vendor also went out of business.

This vendor is very familar with IFA projects and can readily assume the additional scope and projects for a period of 45 days until a new vendor can be procured through a new solicitation which is already in process.
Without a Financial Advisor, the Board will be unable to consider projects for the next two meetings as it will not have a financial advisor to provide financial status for new and existing projects.
Accordance with Admin Rule:Critical changes to existing contract are necessary and best accomplished by contract holder

Professional & Artistic:Yes
Small Business Set-Aside:No

Does this solicitation contain a BEP or DBE requirement?:No

Does this solicitation contain a Veteran requirement?:

Relevant Category:General Services

Total Amount of Award:$373,427.00 (Total Dollar Value Only/Includes Any Renewal Options)
Estimated/Actual Value Description:$30,000 additional allowance.
Length of Initial Term:2
Contract Begin Date:11/11/2009
Contract End Date:12/31/2009
Renewal Terms:N/A


Number of Responding Bidders:1
Number of Unsuccessful Bidders:0
Total Number Awarded:1

Listing of All Bidders/Offerors Considered But Not Selected:
Source Selection:N/A

Vendor(s) Selected for Award
Vendor NameAmount of Award BEP Goal % DBE Goal %
Scott Balice$30,000.00

Notice Contact
Name: Janis Sinisi
Street Address:180 N. Stetson,
Suite 2555
Zip Code:60601
Phone: 312/651-1318
Fax Number:312/651-1350

Class Code

Class Codes:S240 Financial Services & Credit Reporting Services


NIGP Commodity/Service Code:


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