Posting Language
Title
Authorize a contract for a small business interest loan buydown pilot program for Austin Economic Development with Peoplefund, for a term of one year with up to two one-year extension options in an amount not to exceed $1,500,000. Funding: $500,000 is available in the Fiscal Year 2025-2026 Operating Budget of Austin Economic Development. $500,000 is available in the Fiscal Year 2026-2027 Operating Budget of Austin Economic Development. Funding for the remaining contract term is contingent upon available funding in future budgets.
Body
Lead Department
Austin Financial Services.
Client Department(s)
Austin Economic Development.
Fiscal Note
Funding in the amount of $500,000 is available in the Fiscal Year 2025-2026 Operating Budget of Austin Economic Development.
Funding in the amount of $500,000 is available in the Fiscal Year 2026-2027 Operating Budget of Austin Economic Development.
Funding for the remaining contract term is contingent upon available funding in future budgets.
Procurement Language:
Austin Financial Services issued a Request for Qualifications Statements solicitation RFQS 5500 RGW4005 for these services. The solicitation was issued on January 12, 2026, and closed on February 24, 2026. Of the three offers received, the recommended contractor submitted the best evaluated responsive offer. A complete solicitation package, including a log of offers received, is available for viewing on the City’s website. This information can currently be found at https://financeonline.austintexas.gov/afo/account_services/solicitation/solicitation_details.cfm?sid=142937.
MBE/WBE:
This solicitation was reviewed for subcontracting opportunities in accordance with City Code Chapter 2-9B (Minority-Owned and Women-Owned Business Enterprise Procurement Program). For the services required for this solicitation, there were no subcontracting opportunities; therefore, no subcontracting goals were established.
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