Wilton - Request for Proposals - Interim Financing

Start Date: July 03, 2024
End Date: August 01, 2024
Type: Requests for Proposals (RFP)
Phone: 2076454961
Email: mgreeley@wiltonmaine.org
More Information: Click Here

The Town of Wilton hereby provides notice that it is soliciting proposals from financing institutions for the temporary (interim) financing of up to $7,448,000 to finance a portion of the costs of constructing improvements and upgrades to the Town’s water infrastructure (the “Project”). The total cost of the Project is estimated to be $9,700,000, of which the Town intends to borrow $7,448,000 through a Rural Utilities Service loan issued by the United States Department of Agriculture (“USDA”) and of which $2,252,000 is expected to be funded through a grant awarded by the USDA Rural Utilities Service.  The Town has authorized the borrowing of up to $7,448,000 for the Project by Town Meeting vote on June 20, 2023.

Proposals are due by August 1, 2024 at 3:00 PM and may be submitted by mail or hand-delivery to the following address: 158 Weld Road Wilton, ME 04294. Proposals will be opened publicly at 3:00 PM on August 1, 2024. 
 

The Town reserves the right to accept or reject any or all bids and to award a bid to the acceptable bidder as may be determined solely by the Town.  The Town further reserves the right to waive any informality in the bids and to exercise its judgment in evaluating the bids.  The Town intends to select a financing institution that has experience with financing municipal projects and proposes the lowest interest cost, however, interest cost may not be the sole determining factor in the selection of proposals and the Selectboard shall have the sole discretion to award a bid.

               Questions may be submitted via email to mgreeley@wiltonmaine.org.