Revolving Line of Credit Services and Loan Administration Re-issue

H-GAC, on behalf of the Corporation for Regional Excellence (the “Borrower”), is soliciting proposals to obtain the most advantageous terms to secure a line of credit that will provide short-term financing to cover gaps in funding due to reimbursement-based grant cycles, contract payments and other operational needs. The selected financial institution will offer a competitive interest rate, flexible repayment terms and a streamlined process for accessing funds. The Borrower seeks a revolving line of credit in the aggregate amount of up to $10 million for a period of two (2) to five (5) years.

The Houston-Galveston Area Council (H-GAC) is the region-wide voluntary association of 133 local governments and local elected officials in the 13-county Gulf Coast Planning region of Texas. Local elected officials organized H-GAC in 1966 after authorization by State enabling legislation. Its service area is 12,500 square miles and includes more than 7-million residents. H-GAC is governed by a 36-member Board of Directors composed of local elected officials, who serve on the governing bodies of member local governments. All H-GAC programs are carried out under the policy direction of its Board of Directors. H-GAC’s mission is to serve as the instrument of local government cooperation, promoting the region’s orderly development and the safety and welfare of its residents. H-GAC is the regional organization through which local governments consider issues and cooperate in solving area-wide problems. Agency programs emphasize local government concerns, such as transportation, air and water quality, criminal justice, demographic analysis, mapping programs, and intergovernmental purchasing. H-GAC also serves its citizens through workforce development programs, services to the aging and elderly, and small business finance programs.