RFP2500281 - Timnath Recreation Center Project Certificates of Participation Underwriter

Purpose:
The Town of Timnath requests Proposals from qualified Contractors to serve as underwriter for the upcoming issuance of certificates of participation for the new community recreation center.

Overview:
In November 2025, voters in the Town of Timnath (the “Town”) approved a 1.25% sales and use tax increase dedicated to funding the construction, equipping, and operation of a new community recreation center. This facility will serve the growing needs of the local community and provide expanded recreational programming and amenities for residents.

The total project cost is estimated at $98 million. The Town has accumulated approximately $8 million in impact fees that will be applied to the project, leaving a financing need of approximately $90 million. Currently, the Town anticipates leasing the to be built rec center as the leased property for these proposed Certificates of Participation (COPs).

The Town is seeking qualified underwriting firms to serve as underwriter for this transaction. See the Recreation Center Underwriter RFP Attachment for full details and requirements.