Project Information

Bid Title

Financial Advisor

Issuing Agency

New Providence borough

Location

New Jersey

Published Date

Mar 25, 2026

Closing Date

Apr 21, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

Bid Title:	Financial Advisor
Category:	Request for Qualifications
Status:	Open

Description: The BOROUGH OF NEW PROVIDENCE (the "BOROUGH") is soliciting Qualification Statements from interested persons and/or firms for the provision of financial Advisory services as outlined herein for calendar year 2026, as more particularly described herein. Publication Date/Time: 3/25/2026 12:00 AM Closing Date/Time: 4/21/2026 10:00 AM Related Documents: Financial Advisory Services 2026- 2028

Attachment Preview

BOROUGH OF NEW PROVIDENCE

REQUEST FOR QUALIFICATIONS

FINANCIAL ADVISOR

ISSUE DATE: March 25, 2026

SUBMISSION DEADLINE: April 21, 2026

ADDRESS ALL QUALIFICATION STATEMENTS TO:

OFFICE OF THE BOROUGH CLERK

Municipal Building

360 Elkwood Avenue

NEW PROVIDENCE, NEW JERSEY 07974

GENERAL INFORMATION & SUMMARY

ORGANIZATION REQUESTING QUALIFICATIONS

BOROUGH OF NEW PROVIDENCE

360 ELKWOOD AVENUE

NEW PROVIDENCE, NEW JERSEY 07974

CONTACT PERSON

BERNADETTE CUCCARO, ADMINISTRATOR

908-665-1400

PURPOSE OF REQUEST

The BOROUGH OF NEW PROVIDENCE (the "BOROUGH") is soliciting Qualification

Statements from interested persons and/or firms for the provision of financial Advisory services

as outlined herein for calendar year 2026, as more particularly described herein. Through a

Request for Qualification process described herein, persons and/or firms interested in assisting

the BOROUGH with the provision of such services must prepare and submit a Qualification

Statement in accordance with the procedure and schedule in this RFQ. The BOROUGH will

review Qualification Statements only from those persons and/or firms that submit a Qualification

Statement which includes all the information required to be included as described herein, as

determined in the sole and absolute discretion of the BOROUGH. The BOROUGH intends to

qualify persons and/or firms that (a) possess the professional, financial and administrative

capabilities to provide the proposed services, and (b) will agree to work under the compensation

terms and conditions determined by the BOROUGH to provide the greatest benefit to the

taxpayers of New Providence. The services of successful Respondents may be procured as soon

as May 1, 2026.

DEFINED TERMS

The following definitions shall apply to and are used in this Request for Qualifications:

"BOROUGH" - refers to the BOROUGH OF NEW PROVIDENCE.

"Qualification Statement" - refers to the complete responses to this RFQ submitted by the

Respondents.

"Qualified Respondent" - refers to a Respondent who (in the sole and absolute discretion of

the BOROUGH) has satisfied the qualification criteria set forth in this RFQ.

"RFQ" - refers to this Request for Qualifications, including any amendments thereof or

supplements thereto.

"Respondent" or "Respondents" - refers to the interested persons and/or firm(s) that submit a

Qualification Statement.

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CONTRACT FORM

If selected, a respondent shall be required to execute the BOROUGH’S form contract,

which includes, among other things, indemnification, insurance, termination, and licensing

provisions. A complete copy of a draft BOROUGH form contract is available upon request.

It is also agreed and understood that the acceptance of the final payment by a vendor shall

be considered a release in full of all claims against the BOROUGH arising out of, or by reason

of, the work done and materials furnished under the contract.

REQUIREMENTS OF THE QUALIFICATION STATEMENTS

FOR INSURANCE BROKERAGE SERVICES

1. BOROUGH OF NEW PROVIDENCE FACTS AND FIGURES – The BOROUGH

OF NEW PROVIDENCE is a legal, governmental entity. The BOROUGH was incorporated in

1899 and operates under N.J.S.A 40A:60-1, et seq., the borough form of government. The

BOROUGH is governed by a mayor and borough council. The Borough Council sets policy,

adopts the operating and capital budgets for the BOROUGH, enacts ordinances and sets the

direction of how the BOROUGH OF NEW PROVIDENCE will provide government services.

The Mayor is elected and is the chief executive. The Borough Administrator carries out the

policies adopted by the Mayor and Borough Council.

The BOROUGH's population is approximately 14,000 and it consists of approximately

4 square miles of area. The BOROUGH provides a full range of municipal services.

The BOROUGH's operating budget is approximately $28,000,000.

The BOROUGH has approximately 65 full-time employees and approximately 100

volunteers and part-time employees.

2. NATURE/ SCOPE OF SERVICES – The BOROUGH hereby solicits Qualification

Statements from Respondents that have expertise in providing financial advisory services,

including without limitation consultations with and advice to the Borough Council, assist

Borough staff on matters regarding analysis of proposed capital projects and capital expenditure

budgets; review professional reports and feasibility studies to insure financing issues have been

adequately addressed; develop cash flow models to project the effects of various financing

strategies for proposed projects or programs; review and evaluate innovative financing and/or

investment; assist the Borough staff regarding the Borough’s credit rating for both upgrading

and/or maintaining the current credit ratings; assist Borough staff regarding the issuance of debt

and preparation of official statements and evaluation of proposals. Assist with bond arbitrage

calculations. Respondents must demonstrate that they satisfy all professional requirements and

will have the continuing capabilities to perform these services.

3. SUBMISSION REQUIREMENTS – Respondents must have a minimum of five (5)

years of experience in the practice of the specific services described herein. Each Qualification

Statement must clearly indicate the position(s) sought. Respondents should submit a

Qualification Statement that contains the following:

A. The name of the Respondent, the principal place of business and, if different, the

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place where the services will be provided;

B. A description of Respondent's overall experience in providing the type of services

sought in the RFQ. At a minimum, the following information on past experience

should be included as appropriate to the RFQ: (i) description and scope of work

by Respondent; (ii) explanation of perceived relevance of the experience to the

RFQ; and (iii) the education, qualifications, experience, and training of all persons

who would be assigned to provide services along with their names and titles;

C. A narrative statement of the Respondents’ understanding of the BOROUGH's

needs and goals;

D. A listing of all other engagements where services of the types being proposed

were provided in the past five (5) years. This should include other municipal

governments and other levels of government. Contact information for the

recipients of the similar services must be provided. The BOROUGH may obtain

references from any of the parties listed;

• A listing of all immediate relatives of the principal(s) of Respondent who are

BOROUGH employees or elected officials of the BOROUGH. For purposes

of the above, "immediate relative" means a spouse, parent, stepparent, brother,

sister, child, stepchild, direct-line aunt or uncle, grandparent, grandchild, and

in-laws;

• A statement that neither the firm nor any individuals assigned to this

engagement are suspended, or otherwise prohibited from professional practice

by any federal, state, or local agency;

• An Affirmative Action Statement (sample language attached);

• A completed Non-Collusion Affidavit (copy of form attached);

• A completed Owner Disclosure Information form (copy of form attached);

• A statement that the Respondent will comply with the General Terms and

Conditions required by the BOROUGH and enter into the BOROUGH's

standard Professional Services Contract;

• A copy of the Respondent's Business Registration Certification; and

• A completed Disclosure Statement (copy of form attached).

4. COST PROPOSAL – Respondents should submit a cost proposal that would include

any proposed retainer, the services to be provided for the retainer, if services will be provided at

a flat rate, if all or any services will be billed through hourly rates and what are the established

rate(s). Further, the proposal shall include commission arrangements with the various companies

the respondent conducts business with. The BOROUGH does not provide payment for

reimbursement for travel expenses.

5. EVALUATION – The BOROUGH has structured a procurement process that seeks to

obtain the desired results described herein, while establishing a competitive process to assure that

each person and/or firm is provided an equal opportunity to submit a Qualification Statement in

response to the RFQ. The BOROUGH will select the most advantageous proposal(s), if any and

as determined in its sole and absolute discretion, based on all of the evaluation factors set forth at

the end of this RFQ. The BOROUGH will make the award(s), if any, that is in the best interest of

the BOROUGH.

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Qualification Statements will be reviewed and evaluated by the BOROUGH and its legal

and/or financial advisors (collectively, the "Review Team"). The Qualification Statements will

be reviewed to determine if the Respondent has met the minimum professional, administrative

and financial areas and other requirements described in this RFQ. Each Respondent must satisfy

the objectives and requirements detailed in this RFQ. The successful Respondent shall be

determined by an evaluation of the total content of the Qualification Statement submitted. Under

no circumstances will a member of the Review Team review responses to an RFQ for an

appointment that he/she or his/her firm submitted a response. Based upon the totality of the

information contained in the Qualification Statement, including information about the reputation

and experience of each Respondent, the BOROUGH will (in its sole and absolute discretion)

determine which Respondents are qualified from a professional, administrative and financial

perspective. Each Respondent that meets the requirements of the RFQ (determined in the sole

and absolute discretion of the BOROUGH) will be designated as a Qualified Respondent and

may then be given an opportunity to provide services to the BOROUGH.

The RFQ process commences with the issuance of this RFQ. It is anticipated that certain

Qualified Respondents will be selected to begin providing services to the BOROUGH as soon as

May 1, 2026. There can be no assurance, however, that any Qualified Respondent will be

selected.

All communications concerning this RFQ or the RFQ process shall be directed, in writing,

to the BOROUGH's designated contact person:

Bernadette Cuccaro, Borough Administrator

BOROUGH OF NEW PROVIDENCE

360 Elkwood Avenue, New Providence, New Jersey 07974

6. RESERVATION OF RIGHTS – The BOROUGH reserves the right to:

a. Not select any of the proposals;

b. Select only portions of a particular Respondent's proposal for further

consideration (however, Respondents may specify portions of a proposal that they

consider "bundled");

c. To supplement, amend or otherwise modify the RFQ through issuance of addenda

to all prospective Respondents who have received a copy of this RFQ, if

necessary;

d. To change or alter the schedule for any events called for in this RFQ upon the

issuance of notice to all prospective Respondents who have received a copy of

this RFQ;

e. To conduct investigations of any or all of the Respondents, as the BOROUGH

deems necessary or convenient, to clarify the information provided as part of the

Qualification Statement and to request additional information to support the

information included in any Qualification Statement; and

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Commodity Codes

• NAICS 541611Administrative Management and General Management Consulting Services

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