CAEATFA01-26_-_Addendum_No._2__05-06-26_.pdf
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- Attached to
- CAEATFA01-26 - Trustee Services for the Property Assessed Clean Energy (PACE) Loss Reserve Program
- Solicitation number
- 0000039038
- Issued by
- California
About this file
This is Addendum Notice No. 2 to Request for Proposals CAEATFA01-26 issued by the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA), a state entity comprising the State Treasurer, State Controller, Director of Finance, Chair of the Energy Commission, and President of the Public Utilities Commission. The RFP seeks a qualified trustee firm to provide trustee services for the Property Assessed Clean Energy (PACE) Loss Reserve Program, including fund management, investment direction, and claims payment processing. The addendum, issued on May 6, 2026, addresses clarifications regarding key personnel effort percentages, current trustee information, and governing documents. Notably, the deadline for submitting questions regarding the RFP has passed at the time of this addendum's publication.
The addendum clarifies that "Percent of Effort %" in Attachment 4 refers to the anticipated workload percentage for each key personnel member performing the Scope of Work as detailed in the Sample Contract, Exhibit D, Section 15. The incumbent trustee is Zions Bancorporation, National Association, which was awarded Contract No. CAEATFA01-23 and has served since July 1, 2023. CAEATFA will not provide a draft of the main governing documents to prevent potential fraud; however, transaction details and trustee duties are outlined in the RFP's Scope of Work Section A.4. Two primary governing mechanisms include investment direction via written authority to invest in Government Code Section 16430-compliant vehicles and claim payment instructions through written Requisitions for Disbursement submitted by CAEATFA to the Trustee as needed. Justin Gustafson serves as the contact person for clarifications regarding this RFP.
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Other files
| File | Type | Posted |
|---|---|---|
| CAEATFA01-26_-_Addendum_No._1__05-05-26_.pdf | ||
| CAEATFA01-26_-_FINAL_RFP__04-24-26_.pdf |
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Text version
MEMBERS
FIONA MA, CPA, CHAIR
State Treasurer
MALIA M. COHEN
State Controller
JOE STEPHENSHAW
Director of Finance
DAVID HOCHSCHILD
Chair
Energy Commission
JOHN REYNOLDS
President
Public Utilities Commission
EXECUTIVE DIRECTOR
Christina Sarron
P.O. Box 942809 Sacramento, CA 94209 p (916) 651-8157 caeatfa@treasurer.ca.gov www.treasurer.ca.gov/caeatfa
CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED
TRANSPORTATION FINANCING AUTHORITY
CALIFORNIA ALTERNATIVE ENERGY
AND ADVANCED TRANSPORTATION
FINANCING AUTHORITY (CAEATFA)
REQUEST FOR PROPOSALS-Secondary
CONTRACT NO. CAEATFA01-26
Trustee Services for the Property Assessed Clean Energy (“PACE”)
Loss Reserve Program
ADDENDUM NOTICE No. 2
May 6, 2026
The following information is provided in response to questions received by CAEATFA regarding Request for Proposals (RFP) No. CAEATFA01-26, as shown below:
Responses to Questions:
1. In Attachment 4, Key Personnel & Experience, what does “Percent of Effort %” mean, and is it a percentage of time spent on the client by the firm?
Answer:
Yes. In Attachment 4, Key Personnel & Experience, the “Percent of Effort %” should reflect the anticipated workload percentage to perform the Scope of Work under the Contract for each of the Key Personnel listed, as described in the Sample Contract, Exhibit D, Section 15.
2. Who is the current Trustee for the PACE Loss Reserve Program?
Answer:
Contract No. CAEATFA01-23, Trustee Services for the Property Assessed Clean Energy (“PACE”) Loss Reserve Program was awarded to Zions Bancorporation, National Association, and has been in service since July 1, 2023.
3. Can you provide a draft of the actual main governing document that describes the transaction and sets forth detailed duties?
Answer:
No. To avoid potential fraud, we will not post a draft letter. The transactions and duties are detailed in the Scope of Work, RFP Section A.4.
There are two main governing documents:
Investment direction. As set forth in Section A.4.a.iii, the Authority will direct the Trustee, in writing, to invest monies in the Program Fund to an investment permitted by Government Code Section 16430.
At contract commencement, CAEATFA anticipates that the selected Trustee will recommend permissible investment vehicles from which to select.
Claim payment instruction. On an as-needed basis, CAEATFA will submit a written Request for Disbursement (“Requisition”) to the Trustee which conforms to the specifications set forth in Section A.4.b.i., with space for confirmation by the Trustee.
The date for submitting questions regarding RFP Number CAEATFA01-26 has passed. Should you require any clarifying information regarding this addendum, the contact person for this RFP is:
Justin Gustafson California Alternative Energy and
Advanced Transportation Financing Authority P.O. Box 942809
Sacramento, CA 94209 caeatfa@treasurer.ca.gov
Please note that no verbal information provided will be binding upon the State unless such information is issued in writing as an official addendum. Thank you.
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