City of Roanoke Redevelopment and Housing Authority, hereinafter referred to as RRHA, will accept sealed bids for Project Number 230702 "Natural Gas Infrastructure Improvements for Jamestown Place, AMP 207". All bids must be accompanied by a negotiable bid guarantee which shall not be less than five percent (5%) of the amount of the bid. The bid guarantee may be a certified check, bank draft, U.S. Government Bonds at par value, or a bid bond secured by a surety company acceptable to the U.S. Government and authorized to do business in the state where the work is to be performed. Certified checks and bank drafts must be made payable to the order of the PHA. The bid guarantee shall insure the execution of the contract and the furnishing of a method of assurance of completion by the successful bidder as required by the solicitation. Failure to submit a bid guarantee with the bid shall result in the rejection of the bid. Bid guarantees submitted by unsuccessful bidders will be returned as soon as practicable after bid opening. Assurance of Completion (applicable to construction and equipment contracts exceeding $100,000) Unless otherwise provided in State law, the successful bidder shall furnish an assurance of completion prior to the execution of any contract under this solicitation. This assurance may be [Contracting Officer check applicable items] A performance and payment bond in a penal sum of 100 percent of the contract price; or, as may be required or permitted by State law; separate performance and payment bonds, each for 50 percent or more of the contract price; [X] (3) a 20 percent cash escrow; a 25 percent irrevocable letter of credit. Comments on specifications or other provisions in this Invitation to Bid must be submitted in writing to Joel Shank or email jshank@rkehousing.org at RRHA's Capital Improvements Office located at Central Office, 2624 Salem Turnpike, NW, Roanoke, VA 24017, before Wednesday, January 3, 2023 at 1:00 P.M., local prevailing time. RRHA reserves the right to reject any and all bids if it is deemed to be in the Authority's best interest. RRHA is prohibited from making any awards to bidders or accepting as bidders or subcontractors any individuals or firms which are on lists of bidders ineligible to receive awards from the United States as furnished by HUD.