RFP:Commercial Property Assessed Clean Energy (PACE) RFP for Financial Services Provider

Written by: Heather Flournoy on Mar 29th 2014
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RFP:Commercial Property Assessed Clean Energy (PACE) RFP for Financial Services Provider

Energy Improvement Corp, NY-Commercial Property Assessed Clean Energy (PACE) RFP for Financial Services Provider

Request for Proposals Related to Participation as Financing Services Provider as Underwriter, Placement Agent, Direct Investor, or Lender.

The Energy Improvement Corporation (“EIC”) of New York, a New York Local Development Corporation, has established a Commercial Property Assessed Clean Energy Program (“PACE”) to provide financing to property owners in participating municipal member jurisdictions throughout New York State. EIC acts as a constituted authority on behalf of its municipal members pursuant to a municipal agreement and is charged with the administration of the PACE Program, including the issuance of debt to permanently fund eligible loans to property owners. PACE financing is available to eligible commercial, industrial, manufacturing, agricultural, multifamily (>4 units) and institutional property owners for eligible energy improvements that are permanently affixed to their privately owned existing structures.

EIC manages Energize New York (ENY) which is a community-based energy program offered to its municipal members and funded through the Department of Energy (“DOE”) and New York State Energy Research and Development Authority (“NYSERDA”) grants and through revenue generated from financing activities. The ENY (Commercial PACE) Program is exclusively available to commercially owned properties at this time.

EIC intends to issue tax charge secured bonds to finance these loans and is seeking responses from underwriters / placement agents / lenders / investors interested in providing capital for this Program.

Date of Issue: 03/07/2014

Due date: 04/10/2014 3:00 PM (EDT)

LINK for documentation, contact and addendums. A log-in will be required.