Open Bidding Process
As the Trust and the City are eager to improve the lives of our City’s residents by providing additional tools to Chicago property owners and tenants for financing energy efficiency and renewable energy upgrades to their buildings, the Trust is proceeding to an Open Bidding Process on this proposal. Any party that wishes to offer its proposal for PACE is invited to do so at email@example.com by June 26, 2014 at 5 PM CDT.
It is recommended, but not necessary, that the proposal include at least one (1) financial partner who is capable of financing PACE transactions. Interested financial partners may also respond independently to this proposal if they choose, but should list any restrictions they may have on engineering / contracting partners whose projects they are willing to finance. Interested financial partners should indicate whether they are willing to finance PACE projects through traditional debt and/or more novel methods such as variable-payment ESAs (Energy Savings Agreements), PPAs (Power Purchase Agreements), leases, or performance contracts. Please refer to this ESA Diagram for more information on the ESA structure.
If the Trust receives additional proposals from other interested parties as a result of this Open Bidding Process, it will select the best proposal(s) from the pool of interested parties. All interested parties are encouraged to apply and to clearly state their capabilities and qualifications for participating in such a program. Learn more.