RFP 26-36/AB FINANCIAL ADVISORS

Location:	Virginia
Posted:	Mar 27, 2026
Due:	Apr 21, 2026
Agency:	City of Hampton
Type of Government:	State & Local
Category:	R - Professional, Administrative and Management Support Services
Solicitation No:	26-36
Publication URL:	To access bid details, please log in.

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REQUEST FOR PROPOSALS – PROFESSIONAL SERVICES

ISSUE DATE:

MARCH 24, 2026

RFP #:

26-36/AB

NGIP CODE:

94648

DATE/TIME OF CLOSING:

APRIL 21, 2026 @ 11:00AM EST

BUYER NAME:

ALICIA BROWN

COMMODITY:

FINANCIAL ADVISORS

THE CITY OF HAMPTON IS SEEKING PROPOSALS FROM QUALIFIED OFFERORS TO PROVIDE

PROFESSIONAL FINANCIAL ADVISORY SERVICES.

ACKNOWLEDGE RECEIPT OF ATTACHMENTS: A

(Please initial)

ACKNOWLEDGE RECEIPT OF ADDENDUM (S): 1

(Please initial)

Pre-Proposal Conference – N/A

OFFEROR NAME:

COMPETITIVE NEGOTIATION. This Request for Proposals (“RFP”) is subject to the competitive negotiation provisions outlined

in Virginia Code §2.2-4302.2. In addition, the City requires that proposals be sealed. Sealed proposals will be received in the

Issuing Office or via DemandStar (www.demandstar.com) until Closing Date and Closing Time as specified in this solicitation

including any addenda issued by this office. Proposals received by telephone, email, facsimile, or any other means of electronic

transfer will not be accepted The City of Hampton is not responsible for late delivery by the United States Postal Service or any

other courier. All inquiries for information regarding this RFP are to be directed to the Issuing Office as defined herein.

THIS IS NOT AN ORDER. The City of Hampton, hereafter referred to as “the City”, reserves the right to accept or reject any and all

proposals in whole or in part and waives any informality in the competitive negotiation process. Further, the City reserves the right to

enter into any one or more contracts deemed to be in its best interest. The entire contents of the RFP, and addenda, offeror’s proposal

and negotiated changes shall be incorporated by reference into any resulting contract.

Offeror Information:

Name of Offeror:

Address:

Phone Number:

Fax Number:

Email Address:

State Corporation Commission ID: ______________________

City of Hampton Business Prof. License Tax No.:

Federal Tax Identification Number: ___________________; OR Social Security Number (Sole Proprietor):________________

NOTE: Numbers identified as social security numbers will be redacted in public documents.

Business Classification:

Is Offeror a “minority” business? Yes No

African American

Hispanic American

Native American

Asian American

Other; Please Explain: ______________________________________________________

Is Offeror Woman Owned? Yes

Is Offeror a Small Business? Yes No

Is Offeror a Faith-Based Organization?

Yes No

Is Offeror a Disabled Veteran Business? (for informational purposes only)

Yes

Check One: INDIVIDUAL

PARTNERSHIP

CORPORATION

LLC

State in which Registered or Incorporated _____________________________

By signing this proposal, Offeror certifies, acknowledges, understands, and agrees to be bound by the conditions set forth above,

in the Proposal Terms and Conditions, and General Terms and Conditions as described in Attachment A.

Authorized Signature:

Date:

Printed Name:

Title:

Issuing Office: Wherever used in this Request for Proposal, the Issuing Office Will Be:

Alicia Brown, Senior Buyer

Consolidated Procurement Division

1 Franklin Street, Suite 345

Hampton, Virginia 23669

Phone: 757-727-2196

Email: alicia.brown@hampton.gov

Wherever used in this Request for Proposal, the City Contract Administrator will be:

Karl Daughtrey, Chief Financial Officer

City of Hampton

22 Lincoln Street

Hampton, Virginia 23669

Phone: 757-727-6230

Email: kdaughtrey@hampton.gov

City of Hampton

RFP 26-36/AB

(rev. 12/6/22)

Page 2 of 38

I. BACKGROUND

Hampton, Virginia

Hampton is an independent city located in Virginia. It is on the southern end of the Virginia Peninsula, bordering the

Chesapeake Bay. The City has a total area of 136.2 square miles; 51.8 miles of that is land and 84.4 miles is water, with a

total population of more than 137,000.

The City boasts a strong military and technology presence. The nation’s first air base, Langley Air Force Base, is home of

the First Fighter Wing and continuing to add new missions. As Joint Base Langley-Eustis, it contributes nearly $4 billion

a year to the regional economy. NASA Langley Research Center, where America’s first astronauts were trained, is a

major center for aviation research. In addition, the National Institute for Aerospace, run by a consortium of universities,

conducts research on both manned and unmanned systems. The most recent research center is Huntington Ingalls, which

located its Unmanned Systems Center of Excellence in Hampton to focus on military and business applications for

underwater drones. Virginia Tech has an expanded research center focused on seafood and aquaculture and opened an

office and lab space as part of its Center for Coastal Studies.

In addition to these advanced research centers, higher education opportunities include Hampton University, a pre-eminent

HBCU that offers 90 programs; the Virginia Peninsula Community College; Old Dominion University’s Peninsula

Center; and Bryant & Stratton College.

The City is also home to multiple medical facilities including Sentara Careplex Hospital, the Hampton Veteran’s

Administration Medical Center, the Hampton University Proton Therapy Institute for specialized cancer treatment, centers

affiliated with Riverside Regional Medical Center and the Children’s Hospital of the Kings’ Daughters, as well as military

and retiree care at the Langley base.

Other major employers include Science Systems and Applications, Analytical Mechanics, Howmet, Amsec, Measurement

Specialists Inc., Zel Technologies, Ferguson Enterprises, Registrar, Liberty Source, Old Point National Bank, VersAbility

Resources, and Faneuil. Huntington Ingalls also has employees at another Hampton location (in addition to the Unmanned

Center). Tourism is also an important economic driver.

The City is situated between two airports, each less than 15 miles from downtown: Norfolk International Airport and the

smaller Newport News/Williamsburg International Airport.

Hampton is part of a dynamic metropolitan region. Besides Hampton, the region contains four other cities with

populations greater than 100,000. Hampton Roads now has a population of 1.8 million and is the 37th largest

metropolitan region in the nation.

The city’s public school system has been recognized nationally, and the city’s government has been recognized for its

flooding resilience programs, transparency, use of technology to benefit residents, and extensive citizen engagement.

Hampton is a welcoming and diverse city – large enough to provide a wide variety of festivals, music, arts and culture –

but small enough that people know their neighbors. Hampton is more than 400 years old (the oldest continually occupied

city in the original 13 Colonies) and has a rich history. Approximately half of the residents are African-American, and

37% are white, with the remainder split among multiple races and other categories. About 6% of the population is

Hispanic.

Additional demographic data may be accessed by the hyperlink: http://hampton.gov/90/Demographics

City of Hampton

RFP 26-36/AB

(rev. 12/6/22)

Page 3 of 38

II. PROPOSAL TERMS AND CONDITIONS

A. Contract Documents. This RFP, its addenda(s), Offeror’s proposal, any additional information requested,

negotiated changes, and the final awarded contract will constitute the final contract hereafter referred to as the

“Contract”. These documents will be incorporated by reference into the City Purchase Order(s) that award the

Contract. The Contract shall be governed by the contract documents in the following order of precedence:

1. The final negotiated Contract

2. The RFP, its attachments, and its addenda

3. Any negotiated changes to the foregoing documents

4. Offeror’s proposal

B. Copies of Contract Documents. If Offeror is awarded the Contract, Offeror will receive electronic copies of all

documents. All original documents will be maintained at the Issuing Office. If Offeror requires a certified copy

of any document to which Offeror is entitled, the Issuing Office will accommodate that request.

C. Proposal Binding for One Hundred Twenty (120) Days. Offeror agrees that its proposal shall be binding and

may not be withdrawn for a period of one hundred twenty (120) calendar days after the scheduled closing date of

this RFP.

D. Proprietary Information/Non-Disclosure. Offeror is advised that the Virginia Public Procurement Act (Section

2.2-4342, Code of Virginia, 1950 as amended) shall govern public inspection of all records submitted by Offeror.

1. Offeror may invoke the protections of §2.2-4342 of the Code of Virginia to protect trade secrets,

proprietary information, and other confidential information provided by the Offeror:

i. Invoke the protections of this Section prior to, or upon submission of, the data or other materials.

ii. Provide a statement that identifies the data or other materials to be protected and that states the

reasons why protection is necessary.

iii. Submit trade secrets or other proprietary information under separate cover in a sealed envelope

clearly marked “PROPRIETARY”.

iv. References to the proprietary information may be made within the body of the proposal; however,

all information contained within the body of the proposal shall be public information in

accordance with State statutes.

v. An all-inclusive statement that the entire proposal is proprietary is unacceptable. A statement that

Offeror’s costs and/or proposal pricing are to be protected is unacceptable. Offeror will be

requested to remove any such statement(s) in order to be eligible for further consideration.

2. The City reserves the right to submit such information to the City Attorney for concurrence of the

Offeror’s claim that it is in fact proprietary. Information submitted that does not meet the above

requirements will be considered public information in accordance with the VFOIA.

D. Offeror Obligation. Offeror shall carefully examine the contents of this RFP and any subsequent addenda(s).

Failure to do so shall not relieve the Offeror of its obligation to fulfill the requirements of any contract awarded as

a result of this RFP.

E. Conditions of Work. Offeror shall inform itself fully of the conditions related to services required herein.

Failure to do so will not relieve an Offeror of the obligation to furnish all goods and/or services necessary to carry

out the provisions of the Contract.

F. Cooperative Procurement. Section 2.2-4304 Code of Virginia (VPPA) will apply to this solicitation. Other

Public Bodies may utilize any contract(s) issued pursuant to this solicitation by placing its own order(s) directly

with the Contractor(s) awarded the Contract(s). The City of Hampton acts only as the issuing agent and is not

responsible for placement of orders, payment or discrepancies of other participating Public Bodies.

G. Offeror Representations and Acknowledgements. The attached “Offeror Representations and

Acknowledgements” at Attachment C to this RFP, shall be executed by Offeror and is to be submitted with

Offeror’s Proposal. The requirements set forth on said form shall be considered to be binding terms and

conditions in any contract resulting from this RFP. A contract will not be awarded to an Offeror who has not

signed the Offeror Representations and Acknowledgements.

City of Hampton

RFP 26-36/AB

(rev. 12/6/22)

Page 4 of 38

III. SCOPE OF CONTRACT. The purpose of the Request for Proposal (RFP) is to solicit proposals to establish a

contract, or contracts, with qualified offerors to provide financial advisory services to the City of Hampton.

The term of this contract shall be for three (3) years with the option to renew for four (4) additional one (1) year

periods.

As of June 30, 2025, the City of Hampton had $275.8 million in general obligation bonds and $51.5 million in

revenue bonds. A copy of the 2025 Annual Comprehensive Financial Report (ACFR) can be viewed online at

https://www.hampton.gov/243/Finance.

The City of Hampton prepares a five-year capital improvement and financing plan which shows anticipated funding

sources of $460.4 million for fiscal years 2026 through 2030. A copy of the 2026 operating and capital budgets can

be viewed online at https://www.hampton.gov/1799/Budget-Division

SCOPE OF WORK

The scope of this contract includes but is not limited to:

• Provide pertinent advice and counsel for the City concerning developments in the financial

community in general and municipal finance in particular, to enable the City to remain in the best

possible financial position.

• Prepare credit rating presentation for the bond rating agencies in order to achieve and maintain

the highest bond rating realistically achievable. Coordinate and schedule meetings with bond

rating agencies and accompany City officials in all presentations to the bond rating agencies.

• Review capital projects contemplated by the City and work with City staff in developing options,

plans and strategies for financing planned capital improvements, taking into consideration costs

and the effects that various alternatives have on the City’s financial position and policies.

• Develop a time schedule to assure that all work is begun and accomplished in a timely manner

including all work associated with any financings.

• Analyze and make recommendations with respect to whether the sale of bonds should be a

competitive sale, negotiated sale or direct bank loan financing.

• Analyze and make recommendations to the type of debt financing such as general obligation

bond issues, revenue bond issues, lease financings or other type of appropriate financing options.

• Provide recommendations on ways that the City could enhance its credit ratings.

• Assist the City’s staff in the selection of a group of bond underwriting firms (the “Investment

Bankers”) for the sale of the bonds. The firm’s functions in the regard shall include the following:

o Develop Request for Proposals.

o Conduct a pre-interview conference with City staff to facilitate preparedness in

evaluating the Investment Banker proposals.

o Assist and participate in the interview and selection process.

o Upon selection of the Investment Banking team, assist the City and Bond Counsel in

bringing them on board and up-to-date in as timely a fashion as possible, so that the

City’s ongoing process of issuing bonds will experience no delay or inconvenience.

• Assist and advise in the development of debt service coverage ratios, reserve funds or other

structural components as requested.

• Assist in the procurement and negotiation of credit support mechanisms as needed.

City of Hampton

RFP 26-36/AB

(rev. 12/6/22)

Page 5 of 38

This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.

Bid Number:	26-36
Bid Title:	RFP 26-36/AB FINANCIAL ADVISORS
Category:	Entity: City
Status:	Open

RFP 26-36/AB FINANCIAL ADVISORS

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See also