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

Notice to Prospective Proposers

April 24, 2026

You are invited to review and respond to this Request for Proposals (RFP) Number CAEATFA01-26. The California Alternative Energy and Advanced Transportation Financing Authority (“CAEATFA” or the “Authority”), a public instrumentality of the State of California, seeks to retain a qualified firm (“Contractor” or “Trustee”) to serve as trustee to manage funds for the Property Assessed Clean Energy (PACE) Loss Reserve Program. Interested trustee firms are invited to submit proposals in response to this RFP.

Proposals for these services must comply with the instructions included in the RFP. The RFP includes the Sample Standard Agreement the selected firm will be expected to execute. The agreement (“Contract” or “Agreement”) that will be entered into with the State of California (“State”) will include by reference the General Terms and Conditions and Contractor Certification Clauses which may be viewed and downloaded online at:

https://www.dgs.ca.gov/OLS/Resources/Page-Content/Office-of-Legal-Services-Resources-List- Folder/Standard-Contract-Language

The General Terms and Conditions and all Exhibits that are a part of the Sample Standard Agreement are not negotiable. By submitting a proposal, your firm agrees to the terms and conditions stated in this RFP.

In the opinion of CAEATFA, this RFP is complete and without need of explanation. However, if you have questions, or should you need any clarifying information, the contact person for this RFP is:

Justin Gustafson California Alternative Energy and

Advanced Transportation Financing Authority P.O. Box 942809

Sacramento, CA 94209

(916) 653-2635 caeatfa@treasurer.ca.gov

Questions regarding this RFP must be submitted in writing no later than May 1, 2026 at 12:00 p.m. (noon) PT.

Responses to the questions will subsequently be posted on May 5, 2026 in the California State Contracts Register and the CAEATFA website.

Please note that no verbal information provided will be binding upon the State unless such information is issued in writing as an official addendum.

https://www.dgs.ca.gov/OLS/Resources/Page-Content/Office-of-Legal-Services-Resources-List-Folder/Standard-Contract-Language https://www.dgs.ca.gov/OLS/Resources/Page-Content/Office-of-Legal-Services-Resources-List-Folder/Standard-Contract-Language mailto:caeatfa@treasurer.ca.gov

Table of Contents – RFP CAEATFA01-26

A. PURPOSE AND DESCRIPTION OF SERVICES

1. Introduction

2. CAEATFA Background and Overview

3. Property Assessed Clean Energy (PACE) Loss Reserve Program

4. Scope of Work

5. Term of Agreement

B. MINIMUM QUALIFICATIONS FOR PROPOSERS

C. PROPOSAL REQUIREMENTS AND INFORMATION

1. Key Action Dates

2. Questions and Answers

3. Content and Format of Proposals

4. Submission of Proposals

5. Evaluation Process

6. Award and Protest

7. Disposition of Proposals

8. Agreement Execution and Performance

D. PREFERENCE AND INCENTIVE PROGRAMS

1. Small Business or Microbusiness Preference

2. Non-Small Business or Microbusiness Preference

3. Disabled Veteran Business Enterprise (DVBE) Incentive Program

E. REQUIRED ATTACHMENTS

Attachment 1 – Required Attachment Checklist Attachment 2 – Proposal/Proposer Certification Sheet Attachment 3 – Minimum Qualifications Certification Attachment 4 – Key Personnel and Experience Attachment 5 – Proposer References Attachment 6 – Cost Proposal Worksheet Attachment 7 – Payee Data Record (STD 204) Attachment 8 – Contractor Certification Clauses (CCC 04/2017) Attachment 9 – Darfur Contracting Act Certification Attachment 10 – Generative Artificial Intelligence (GenAI) Notification Attachment 11 – Bidder Declaration (GSPD-05-105) Attachment 12 – Small Business or Microbusiness Preference (if applicable) Attachment 13 – Non-Small Business or Microbusiness Preference (if applicable) Attachment 14 – Disabled Veteran Business Enterprise (DVBE) Participation Instructions (if applicable)

F. SAMPLE STANDARD AGREEMENT (STD 213)

Exhibit A – Scope of Work Exhibit A, Attachment 1 – Key Personnel Resumes Exhibit B – Budget Detail and Payment Provisions Exhibit B, Attachment 1 – Cost Proposal Exhibit C – General Terms and Conditions (GTC 02/2025) Exhibit D – Special Terms and Conditions Exhibit E – Additional Provisions

California Alternative Energy and Advanced Transportation Financing Authority Request for Proposals No. CAEATFA01-26

A. PURPOSE AND DESCRIPTION OF SERVICES

1. Introduction

The California Alternative Energy and Advanced Transportation Financing Authority (“CAEATFA” or the “Authority”) seeks proposals from which to select a trustee firm (“Trustee” or “Contractor”) to manage funds for the Property Assessed Clean Energy (PACE) Loss Reserve Program. The Trustee will hold and disburse funds on behalf of CAEATFA and provide monthly account statements and a monthly claim activity summary to CAEATFA.

The selection of the Trustee will be based not only on the reasonableness of the proposed fees, but also on assurances that the selected firm will provide competent and responsive service to CAEATFA in all subject areas described in the Scope of Work (Section A, Item 4), and will meet or exceed the Minimum Qualifications for Proposers (Section B). The firm must be free from actual conflicts of interest not only at the time of selection, but throughout the term of the contract as well. The firm must be immediately available to provide the services that will be set forth in the Contract.

All proposals submitted in response to this RFP must explain the experience and qualifications of the firm which demonstrate the firm’s ability to provide these services. Failure to provide all of the requested information or deviation from the required format may result in disqualification. CAEATFA reserves the right to reject any or all proposals.

CAEATFA anticipates entering into a three-year Contract. The total Contract amount may not exceed $49,000.00 (Forty-Nine Thousand Dollars and Zero Cents) over the entire term of the agreement.

Attached as Section F hereto is a proposed sample Contract for the services to be provided pursuant to this RFP. It includes the STD 213 Standard Agreement and other standard contract provisions to which the Contractor will be bound.

2. CAEATFA Background and Overview

CAEATFA, a public instrumentality, was created in 1980 to assist specified entities by providing credit enhancements, access to low-cost financing through private activity tax-exempt bonds and loans, and other forms of financial assistance.

CAEATFA staff takes direction from its Board in deciding which projects to assist. The Board consists of five members: the State Treasurer, who serves as chairperson of the Authority; the State Controller; the Director of the Department of Finance; the Chairperson of the California Energy Commission (CEC);

and the President of the California Public Utilities Commission (CPUC). The enabling legislation is contained in the California Alternative Energy and Advanced Transportation Financing Authority Act, Division 16 (commencing with Section 26000) of the California Public Resources Code.

3. Property Assessed Clean Energy (PACE) Loss Reserve Program

PACE is a financing method that uses community facility districts or improvement districts to finance the installation of distributed generation renewable energy sources, electric vehicle charging infrastructure, or energy or water efficiency improvements. PACE improvements can be funded by bonds or other sources of capital that are repaid through the property owner’s property tax bill. PACE allows homeowners to finance retrofits for up to 30 years with no money down. Additionally, PACE obligations have lien-priority over other voluntary obligations.

In 2010, the Federal Housing Finance Agency (“FHFA”) issued a pronouncement that PACE programs “present significant safety and soundness concerns” and violate standard mortgage provisions since PACE liens have priority over mortgages. FHFA directed federal mortgage enterprises to adjust their lending criteria in areas with residential PACE programs and to require PACE liens be extinguished before issuing or refinancing a mortgage. Following this directive, most residential PACE programs halted throughout the country, including many of the existing residential PACE programs in California.

In response to FHFA’s concerns and to further support the development of PACE in California, Senate Bill 96 (Committee on Budget and Fiscal Review, Chapter 356, Statutes of 2013) authorized CAEATFA to develop and administer the PACE Loss Reserve Program with an initial allocation of $10 million. The Program seeks to address FHFA’s concerns regarding the senior lien priority of PACE financing by reimbursing first mortgage lenders for specified losses resulting from the existence of a PACE lien on a property during foreclosure or forced sale for unpaid property taxes. To that end, the Loss Reserve covers the following losses:

a. PACE payments paid while a first mortgage lender is in possession of a property subject to a PACE assessment.

b. Any losses to the first mortgage lender up to the amount of outstanding PACE assessments in a forced sale for unpaid taxes or special assessments.

PACE administrators may participate in the Program by applying to CAEATFA and demonstrating that they meet the Program’s eligibility requirements as established in statute and regulation. These regulations can be found at:http://www.treasurer.ca.gov/caeatfa/pace/regulations/index.asp.

Once enrolled, each financing originated by an enrolled PACE administrator and included in its semi-annual reports must be in compliance with the program regulations and may be covered by the loss reserve for its full term, or until the loss reserve is exhausted. Additionally, PACE administrators that applied to the Program on or before June 9, 2014, were allowed to enroll their existing portfolios under the loss reserve to maximize the Program’s effectiveness. To allow new PACE programs (created on or after March 10, 2014) to enroll in the Program without delaying their operations, the loss reserve also covers financings originated up to 30 days before their enrollment date.

Since the Program launched in May 2014, CAEATFA has enrolled 22 PACE programs, of which four remain active (as of December 31, 2022): 1) Sonoma County Energy Independence Program (“SCEIP”),

2) CaliforniaFIRST, 3) Home Run Financing (formerly PACEfunding), and 4) FortiFi CSCDA Program.

The loss reserve currently supports over 72,617 residential PACE financings with an outstanding value of over $1.6 billion as of December 31, 2025.

CAEATFA facilitates financial transactions through the PACE Trustee as needed to fully implement the PACE Loss Reserve Program. This RFP provides the specific tasks and deliverables associated with managing the PACE Loss Reserve Trust Account.

Upon awarding this Trustee contract, CAEATFA will deposit the remaining principal amount of the designated $10 million and any accrued interest in a trust account established by the Trustee. Local PACE programs apply to CAEATFA to participate in the Loss Reserve. Once enrolled, these programs report to CAEATFA semi-annually. If a first mortgage lender incurs an eligible loss as a result of an enrolled PACE financing, the PACE program may submit a claim to CAEATFA. CAEATFA will determine whether the claim is eligible and instruct the Trustee to draw funds from the trust account payable to either the PACE program or the first mortgage lender on the property as directed. The Trustee may only disburse amounts up to the available principal. To date, there have been nine claims on the reserve totaling $593,294.40.

4. Scope of Work

Under the general direction of CAEATFA’s Executive Director or designee, the Contractor agrees to provide services as described below:

a. Establishing the Trust Account:

i. The Trustee will establish, maintain and hold a separate fund designated as the PACE Loss Reserve Trust Account (the “Program Fund”). Upon establishment of the Program Fund, CAEATFA will deposit such funds as determined by its Executive Director or designee.

http://www.treasurer.ca.gov/caeatfa/pace/regulations/index.asp

ii. Any and all established accounts will be interest-bearing demand accounts unless the Trustee is directed by CAEATFA to place funds in another account type, and shall not require any fees or costs to be paid by the Trustee or CAEATFA.

iii. Upon the written direction of the Authority to the Trustee, the monies in the Program Fund will be invested by the Trustee in any investment permitted by Government Code Section 16430.

iv. The Trustee will be authorized and directed in writing by CAEATFA’s Executive Director or designee to transfer, hold, invest and disburse monies in the Program Fund, and future accounts.

b. Funding PACE Loss Reserve Claim Payments:

i. CAEATFA will submit a written Request for Disbursement (“Requisition”) to the Trustee. Each Requisition must contain the following information:

(a) The name of the enrolled PACE program;

(b) The name and address of the entity to which the payment is due;

(c) The purpose for which such payment is to be made;

(d) The amount to be paid;

(e) The date by which such payment is due; and

(f) Certification that the payment directed therein has been properly incurred and is a proper charge against the claim payment.

Each Requisition will be sufficient evidence to the Trustee of the facts stated therein and the Trustee shall have no duty to confirm the accuracy of such facts. Upon receipt of a Requisition signed by CAEATFA, the Trustee shall pay the amount set forth therein as directed by the terms thereof.

ii. The Trustee will disburse the claim payment from the Program Fund. For each claim payment, the Trustee will track activity for reporting purposes.

c. Maintenance of Account(s):

i. The Trustee will hold, maintain and monitor the Program Fund; perform various account-related activities; provide recordkeeping information on all transactions and claim activity; and provide monthly statements (by the 15th day of the following month) to CAEATFA.

ii. The monies deposited in the Program Fund held by the Trustee are the property of CAEATFA, but held for the benefit of the enrolled PACE programs.

iii. CAEATFA may provide written direction to the Trustee to remit any monies in the Program Fund to CAEATFA.

iv. At such time as CAEATFA in its discretion determines to terminate its role in the PACE Loss Reserve Program, the Trustee will be authorized and directed in writing by CAEATFA’s Executive Director or designee to remit any money remaining in the Program Fund to

CAEATFA.

v. The Trustee will meet, as needed, with CAEATFA and its staff at a location to be determined by CAEATFA staff.

vi. In all respects, the Trustee will represent the best interests of CAEATFA and the State of California in all transactions and proceedings.

d. Reporting and Other Requirements:

i. Monthly Account Statements. The Trustee will provide monthly bank statements (by the 15th day of the following month) to CAEATFA for the account it maintains in association with the PACE Loss Reserve. These statements will include the account balance and any interest earned, as well as all transaction activities associated with the account during the statement period, and any changes or transfers related to the account.

ii. Monthly Claim Activity Summary. Through the collection of data from submitted claims, the Trustee will provide, on a monthly basis (by the 15th day of the following month), the following data for claims that includes:

(a) An accounting of the Program Fund;

(b) The name of the enrolled PACE program;

(c) The qualified claim number;

(d) The date the claim was paid; and

(e) The amount of claim paid.

iii. On-Demand Electronic Account Viewing. The Trustee will provide designated CAEATFA staff with on-demand electronic viewing access to the Program Fund and any other account established on behalf of CAEATFA.

iv. The Trustee will perform such other duties or activities related to the specific duties listed above as may be specifically requested in writing by CAEATFA in connection with the Program, including on CAEATFA’s behalf in communications with enrolled PACE programs.

5. Term of Agreement

The term of the Agreement will be for a three-year period beginning July 1, 2026, through June 30, 2029, and may not exceed $49,000.00 over the entire term of the agreement. The effective date is either the proposed award date (Section C, Item 1), or the date of approval of the Agreement by the State of California, whichever is later. No work shall commence until the effective date.

B. MINIMUM QUALIFICATIONS FOR PROPOSERS

In preparing your proposal, please provide your firm’s responses to the following requirements in the order listed in this RFP. Failure to meet the minimum qualifications will cause your proposal to be considered unresponsive and the proposal will be disqualified.

The firm must have, at a minimum, the following qualifications and experience:

1. Any Trustee appointed under the Agreement must be a trust company, corporation or bank having the powers of a trust company that either:

a. Has a combined capital and surplus of at least fifty million dollars ($50,000,000.00), and is subject to supervision or examination by federal or state authority; or

b. Is a wholly-owned subsidiary of a bank, trust company, corporation or bank holding company with an aggregate combined capital and surplus of at least fifty million dollars ($50,000,000.00) and is subject to supervision or examination by federal or state authority.

If such bank or trust company publishes a report of condition at least annually, pursuant to law or to the requirements of any supervising or examining authority referred to above, then the combined capital and surplus of such bank or trust company shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Trustee must, at all times, during the term of the Contract meet these minimum qualifications.

2. An office established, meaning a physical location and key personnel, within the State of California. Proposer and any subcontractor identified in the proposal must be qualified to do business in the State of California. Proposer must submit evidence with its proposal demonstrating compliance with this requirement.

3. Must have been in operation for a minimum of two (2) years providing the types of services required under the Contract.

4. Firm must not be a publicly traded corporation or subsidiary thereof that is incorporated offshore, even if the United States is the principal market for the public trading of the corporation’s stock.

5. Firm must be free from conflicts of interest, not only at the time of selection, but throughout the term of the Contract as well.

6. Firm must be immediately available to provide the services that will be set forth in the Contract.

C. PROPOSAL REQUIREMENTS AND INFORMATION

1. Key Action Dates

Prospective proposers are hereby advised of the following estimated schedule. Dates are subject to change due to administrative processing. Offerors must adhere to the RFP response submission due date and time.

Date Action

April 24, 2026 RFP Advertisement – California State Contracts Register (CSCR).

RFP available to prospective proposers.

May 1, 2026

May 5, 2026

Written questions must be received by CAEATFA by 12:00 p.m.

PT.

Responses will be posted on the CSCR and CAEATFA websites.

May 15, 2026 Proposals are due and must be received by CAEATFA at P.O. Box 942809, Sacramento, CA 94209, or Hand Delivered to 915 Capitol Mall, Sacramento, CA 95814 by 12:00 p.m. PT.

May 15-21, 2026 Evaluation and selection of firm by evaluation committee.

Determination of responsive proposals.

May 22, 2026 Notice of Intent to Award

July 1, 2026 Anticipated Commencement of Agreement

2. Questions and Answers

In the opinion of CAEATFA, this RFP is complete and without need of explanation. However, if you have questions, or should you require any clarifying information, please email caeatfa@treasurer.ca.gov.

Questions regarding this RFP must be submitted in writing no later than May 1, 2026 at 12:00 p.m. PT.

Responses to questions will be provided on May 5, 2026 and will be made available in the California State Contracts Register located at https://caleprocure.ca.gov/ and the CAEATFA website located at https://www.treasurer.ca.gov/caeatfa/index.asp.

mailto:caeatfa@treasurer.ca.gov https://caleprocure.ca.gov/ https://www.treasurer.ca.gov/caeatfa/index.asp

3. Content and Format of Proposals

This RFP, the evaluation of proposals and award of any resultant Contract will be governed generally by the rules of this section and applicable State policy. The Bidder Instructions (https://www.documents.dgs.ca.gov/dgs/FMC/GS/PD/DGSPD%20451.pdf) provide general information for potential proposers describing how to provide a responsive proposal.

Proposals must be organized in the format shown below and contain all of the information listed:

a. Table of Contents.

b. Executive Summary.

i. Conflicts of Interest. Firms must disclose any business relationships which may be construed to be potential conflicts of interest. CAEATFA may request interviews of firms for the purpose of clarifying any situations that could be construed to be a conflict of interest, and has the sole and exclusive authority to disqualify a firm if CAEATFA determines a conflict exists.

ii. Legal Actions. Describe any and all instances within the past 24 months of your firm’s or any of its principals’ involvement in any litigation, arbitration, disciplinary or other official actions arising from the firm’s business.

iii. Investment of Public Funds. Please identify any known restrictions and/or limitations your firm may have regarding the investment of public funds.

c. Firm Qualifications, Experience and References. This section is intended to provide an opportunity for the firm to demonstrate its qualifications. Information provided will be used in the evaluation process as outlined in Section C, Item 5.

i. Qualifications of the Firm. Describe your firm’s qualifications in providing trustee services, including discussion of any unique strengths possessed by your firm. The Contractor must demonstrate a high degree of experience, training, and proficiency in the various functions to be performed under the Scope of Work. In addition, CAEATFA expects that the Contractor will be up to date with the most recent trustee best practices and trends and must maintain appropriate expertise and technology at the firm’s own expense.

ii. Experience as Contractor. Discuss the overall experience of your firm that demonstrates your ability to successfully complete the Scope of Work (Section A, Item 4) and meet the Minimum Qualifications (Section B). Experience should include recent trustee services provided to state entities and others with similar projects.

Provide a listing of other state or local governments for which the firm has acted or is currently acting as trustee; the length of time engaged on such projects; the nature of services provided; and a contact person with address and telephone number. This list can be included in this section of the proposal (Experience as Contractor) or at the end of the proposal.

iii. References. Submit a list of at least three references (clients) to which the firm has provided similar contract services within the past five (5) years, and contact numbers for each (Attachment 5).

d. Personnel Experience and Qualifications. Identify the personnel who will be providing the services required by the proposal, including years and type of experience for each person. Experience should include number of years at current firm as well as all prior service. Experience in trustee services should be detailed, including trustee services for governmental agencies, or service as a trustee services to a State agency, as well as private industry experience.

https://www.documents.dgs.ca.gov/dgs/FMC/GS/PD/DGSPD%20451.pdf

i. Key Personnel. Complete Attachment 4 regarding the key personnel (include partners and associates) who will be directly involved in providing the services required under the contemplated Contract. Provide a brief description of the background and experience of each individual, both at current firm and all prior service. Identify the role of each staff member who will serve in the Contract, his/her title, and the percentage of the total firm effort that will be provided by that individual.

ii. Resumes. Provide detailed resumes for individuals who will be directly involved in providing the services under the Agreement, including any proposed subcontractor firms and their employees.

The firm must ensure that the quality and availability of its personnel assigned to this Contract, including staff of subcontractors (if any), will be maintained over the term of the Agreement. Any changes in assigned personnel are at the discretion of the firm, provided that the qualifications and experience of any replacements are substantially the same or better than the original personnel.

Contractor shall not substitute, replace or reassign Key Personnel without the prior approval of the State.

e. Cost Proposal Format and Requirements. The Cost Proposal Worksheet (Attachment 6) shall be the basis for the cost portion of the evaluation and selection process. Proposals must include the firm’s fee schedule for standard tasks that will be required of the Trustee. The fee schedule should provide fee estimates based on the following scenario:

i. Scenario. The scenario below is only given for purposes of evaluating the fees portion of your proposal. Actual transaction volume under the Agreement may vary considerably depending on demand for the Program, actual claim rates and economic conditions; however, proposals submitted with fee schedules not in compliance with these requirements shall be rejected:

• Average claim amount of $10,000.00;

• One hundred thirty (130) claims in the first year;

• Two hundred fifty (250) claims in year two;

• Three hundred thirty (330) claims in year three;

ii. Considering the Program volume estimates in the scenario above, please provide your firm’s annual fee schedule for the tasks listed in (a) – (d) below:

(a) establishment and maintenance of the Program Fund, including potential transfer to new trustee at the end of the contract term;

(b) funding claim payments;

(c) semi-annual fee for trust administration; and

(d) outline of other reimbursable expenses, if applicable.

f. Required Attachments. For the proposal to be considered responsive, all required Attachments (1-

14) must be completed and included with the proposal by the dates and times shown in Key Action Dates (Section C, Item 1).

4. Submission of Proposals

a. Proposals should provide straightforward and concise descriptions of the proposing firm’s ability to satisfy the requirements of this RFP. The proposal must be complete and accurate. Omissions, inaccuracies or misstatements may be cause for rejection of a proposal.

b. All proposals must be submitted under sealed cover and sent to CAEATFA by the date and time shown in Key Action Dates (Section C, Item 1). Proposals received after this date and time will not be considered.

c. A minimum of one (1) unbound original and three (3) bound or unbound copies of the proposal must be submitted. All responses to this RFP must be submitted in hard copy and received by CAEATFA no later than 12:00 p.m. PT on May 15, 2026. Emailed or faxed submissions will not be accepted.

d. The original proposal must be marked "ORIGINAL COPY." All documents contained in the original proposal package must have original signatures and must be signed by a person who is authorized to bind the proposing firm. All additional proposal sets may contain photocopies of the original package.

e. The proposal envelopes must be plainly marked with the RFP number and title, the firm name and address, and must be marked with “DO NOT OPEN”, as shown in the following example:

Mailing Address:

Subject – Request for Proposals – “PACE LR Trustee Services”

RFP# CAEATFA01-26

CAEATFA

Attn: Justin Gustafson

P.O. Box 942809 Sacramento, CA 94209

(916) 653-2635

DO NOT OPEN

Or Hand Deliver to:

Subject – Request for Proposals – “PACE LR Trustee Services”

RFP# CAEATFA01-26

CAEATFA

Attn: Justin Gustafson

915 Capitol Mall Sacramento, CA 95814

(916) 653-2635

DO NOT OPEN

f. If the proposal is made under a fictitious name or business title, the actual legal name of the firm must be provided.

g. Proposals not submitted under sealed cover and marked as indicated may be rejected.

h. All proposals must include the documents identified in Attachment 1, Required Attachment Checklist. Proposals not including the required attachments shall be deemed non-responsive. A non-responsive proposal is one that does not meet the basic proposal requirements.

i. Proposals must be submitted for the performance of all the services described herein. Any deviation from the work specifications will not be considered and will cause a proposal to be rejected.

j. A proposal may be rejected if it is conditional or incomplete, or if it contains any alterations of form or other irregularities of any kind. CAEATFA may reject any or all proposals and may waive any immaterial deviation in a proposal. CAEATFA’s waiver of an immaterial deviation shall in no way modify the proposal document nor excuse the proposer from full compliance with all requirements if awarded the Contract.

k. Costs for developing proposals and in anticipation of award of the Agreement are entirely the responsibility of the proposer and shall not be charged to CAEATFA or the State of California.

l. An individual who is authorized to bind the proposing firm contractually shall sign the Proposal/Proposer Certification Sheet (Attachment 2). The signature must indicate the title or position that the individual holds in the firm. An unsigned proposal may be rejected.

m. A proposing firm may modify a proposal after its submission by withdrawing its original proposal and resubmitting a new proposal prior to the proposal submission deadline as set forth in the Key Action Dates. The submission of a new proposal must comply with requirements of this section. Proposal modifications offered in any other manner, oral or written, will not be considered.

n. A proposer may withdraw its proposal by submitting a written withdrawal request, signed by the proposer or an authorized agent, to CAEATFA at the address identified in Item 3.e. above. A proposer may thereafter submit a new proposal prior to the proposal submission deadline.

Proposals may not be withdrawn without cause after the proposal submission deadline.

o. CAEATFA may modify the RFP prior to the date fixed for submission of proposals by the issuance of an addendum to all parties who received an RFP package.

p. CAEATFA reserves the right to reject all proposals. The agency is not required to award an agreement.

q. Before submitting a response to this solicitation, proposers should review such response, correct all errors and confirm compliance with the RFP requirements.

r. Where applicable, proposers should carefully examine work sites and specifications. No additions or increases to the Contract amount will be made due to a lack of careful examination of work sites and specifications.

s. More than one proposal from an individual, firm, partnership, corporation or association, under the same or different names, will not be considered.

t. The State does not accept alternate contract language from a prospective contractor. A proposal with such language will be considered a counter-proposal and will be rejected. The State’s General Terms and Conditions (GTC 02/2025) are not negotiable.

u. No oral understanding or agreement shall be binding upon either party.

v. Conflict of Interest: The proposer/Contractor needs to be aware of the provisions regarding current or former state employees. If a Contractor has any questions on the status of any person rendering services or involved with the Contract, CAEATFA must be contacted immediately for clarification.

(See Attachment 8, Contractor Certification Clauses (CCC 04/2017)).

5. Evaluation Process

a. Each proposal will be date- and time-stamped as it is received; additionally, it will be verified that each proposal arrives properly sealed. Late proposals will not be accepted. Proposals shall remain confidential until the review process begins. At the time of proposal opening, each proposal shall be checked for the presence or absence of required information in conformance with the submission requirements of this RFP.

b. CAEATFA staff shall evaluate each proposal to determine how responsive the firm is to the specific requirements contained in this RFP. Each proposal will be examined for the presence of required information as specified in the submission requirements of this RFP. The submission requirements are mandatory and failure to fully comply may be deemed grounds for automatic rejection.

c. It is the proposing firm’s responsibility to provide sufficient information in the proposal to permit CAEATFA staff to make an accurate assessment of the firm’s ability to provide the services needed.

d. If during the evaluation process CAEATFA staff is unable to assure itself of the proposing firm’s ability to perform under the Contract (if Contract is awarded), CAEATFA staff has the option of requesting from the firm any information deemed necessary to determine the firm’s qualifications.

The firm shall be notified if such information is required, and shall be permitted five working days to submit the requested information.

e. If the information submitted by the proposing firm is insufficient to satisfy CAEATFA staff as to the firm’s suitability, CAEATFA staff may ask for additional information or reject the statement. The Authority’s determination of the firm’s qualifications shall be final.

f. Proposals that contain false or misleading statements, or which provide references which do not support an attribute or condition claimed by the proposer, may be rejected.

g. CAEATFA shall evaluate only those proposals from firms meeting the Minimum Qualifications for Proposers as defined in Section B as well as the Proposal Requirements in Section C.

h. Award, if made, will be to the highest-scored responsive proposal.

i. The proposals that meet the Minimum Qualifications for Proposers in Section B and the Proposal Requirements in Section C will be evaluated and scored according to the criteria indicated below. A minimum of 85 points must be achieved to be considered responsive (a responsive proposal is one which meets or exceeds the requirements stated in this RFP). The selection will be made by an evaluation committee of CAEATFA on the basis of the following weighted factors (maximum points available for each criterion are noted).

Rating/Scoring Criteria

Maximum Possible Points

i. Qualifications of the Firm. CAEATFA will evaluate the firm’s overall experience as detailed in Section C, Item 3.c.i., for demonstration of its ability to successfully complete the Scope of Work as described in Section A, including trustee depository experience.

30 Points

ii. Experience as Contractor. CAEATFA will evaluate the firm’s experience as detailed in Section C, Item 3.c.ii., as a contractor to state or other government entities for demonstration of the firm’s expertise specific to programs substantially similar to the PACE Loss Reserve Program.

20 Points

iii. Qualifications of Key Personnel. CAEATFA will evaluate the individuals to be assigned to the Contract on the basis of background and experience in related work, including experience as a trustee and with similar types of programs.

15 Points

iv. Fee Schedule (Cost). CAEATFA will evaluate the actual fees proposed, including the reasonableness of the composite annual rates and cost detail (given value of services to be obtained), and cost effectiveness (given experience and qualifications of firm and its personnel).

35 Points

Maximum Total Possible Points 100 Points

The following scale will be used to score the responses to each scored category except with regard to costs:

Points Awarded Interpretation General Basis for Point Assignment

100% Exceptional Category is addressed with the highest degree of confidence. Response exceeds the needs, requirements, and/or expectations with superior background, experience, expertise.

80% Excellent Response fully meets the needs, requirements, and/or expectations with a high degree of confidence. Proposal offers one or more enhancing feature, method, or approach exceeding basic expectations.

60% Good Response addresses the category being scored. Good degree of confidence with minimal weaknesses.

40% Adequate Response is adequate to meet the needs, requirements, and/or expectations. Any omissions, flaws, or defects, are inconsequential and acceptable.

20% Minimally Adequate

Minimally addresses the category being scored, but one or more major considerations of the category are not addressed or are addressed in such a limited way that it results in a low degree of confidence.

0% Inadequate Fails to address any portion of the category being scored. The omissions, flaws, or defects are significant and considered unacceptable.

j. Cost Proposal Scoring. The lowest-cost proposal is awarded the maximum cost points (35 points).

Other proposals are awarded cost points based on the following calculation:

(Lowest Proposer’s Cost/Other Proposer’s Cost) = (factor) Cost points for other Proposer = (factor) x maximum cost points

EXAMPLE: A maximum of 35 points is available

Lowest Cost Proposal = $36,750 Other Cost Proposal = $49,000

(Lowest cost proposal / other cost proposal) = $36,750 / $49,000 = 0.75 (Cost points awarded to other proposal = 0.75 x 35 =26.25 points

k. As part of its final evaluation process, CAEATFA may request oral presentations. If this option is exercised, CAEATFA shall provide the firms with at least a 72-hour notice. Presenters from the firm(s) must include the personnel who shall have primary responsibility for the services under the Contract.

CAEATFA reserves the right to:

• Request an interview with, and additional information from firms prior to final selection.

• Select the Contractor that, in CAEATFA’s judgment, shall best meet the needs of CAEATFA, regardless of differences in estimated costs between firms.

• Consider information about a proposing Contractor in addition to the information submitted in the proposal or interview.

l. Tiebreaker.

i. In the event two (2) or more responsive and responsible proposers earn the highest score, the Agreement will be awarded to the responsive and responsible company earning the higher score in ii. Experience as Contractor. If the scores for Experience as Contractor are the same, the Agreement will be awarded to the responsive and responsible proposer earning the higher score for iii. Qualifications of Key Personnel. If the scores for Qualifications of Key Personnel are the same, the Agreement will be awarded to the responsive and responsible proposer earning the higher score for i. Qualifications of the Firm.

ii. In the event of a precise tie between the low responsible bid of a certified small business and the low responsible bid of a certified disabled veteran owned business that is also a small business, the Agreement must be awarded to the disabled veteran owned small business according to the State Contracting Manual, Volume 1, Chapter 8.21.C.

6. Award and Protest

a. Notice of the proposed award(s) shall be posted in a public place in the office of CAEATFA, 915 Capitol Mall, Sacramento, CA 95814 and on the following Internet site for five (5) working days prior to awarding the Contract(s): http://www.treasurer.ca.gov/CAEATFA.

b. If any proposing firm, prior to the award of the Contract(s), files a protest with CAEATFA and the Department of General Services (DGS), Office of Legal Services, 707 Third Street, 7th Floor, West Sacramento, CA 95605, on the grounds that the protesting firm would have been awarded a Contract had CAEATFA correctly applied the evaluation standard in the RFP, or had CAEATFA followed the evaluation and scoring methods in the RFP, the Contract(s) shall not be awarded until either the protest has been withdrawn or the DGS has decided the matter.

c. An initial written statement of protest, including the RFP Number, the name of the State Agency, and the contact person listed within the RFP, should be submitted to:

CAEATFA DGS, Office of Legal Services Attention: Justin Gustafson Attention: Protest Coordinator P.O. Box 942809 707 Third Street, 7th Floor, Suite 7-330 Sacramento, CA 94209 West Sacramento, CA 95605 caeatfa@treasurer.ca.gov OLSProtests@dgs.ca.gov

d. If submitting the initial written statement of protest via mail, it is suggested that the firm do so by certified or registered mail.

e. Within five (5) days after filing the initial protest, the protesting firm shall file with the DGS, Office of Legal Services and CAEATFA a full and complete written statement specifying the grounds for the protest.

f. If the protest is based on permissible grounds, DGS will decide the protest and prepare a written decision within 30 days of the final submission of evidence.

7. Disposition of Proposals

a. Upon proposal opening, all documents submitted in response to this RFP will become the property of CAEATFA and the State of California and will be regarded as public records under the California Public Records Act (Government Code Section 6250 et seq.) and subject to review by the public. The State cannot prevent the disclosure of public documents. However, the contents of all proposals, correspondence, agenda, memoranda, working papers, or any other medium which discloses any aspect of a proposer’s proposal shall be held in the strictest confidence until the letter of Intent to Award Contract is posted.

http://www.treasurer.ca.gov/CAEATFA mailto:caeatfa@treasurer.ca.gov mailto:OLSProtests@dgs.ca.gov

8. Agreement Execution and Performance

a. Performance shall start not later than fifteen (15) days after the express date set by CAEATFA and the selected Contractor, after all approvals have been obtained and the Agreement is fully executed. Should the Contractor fail to commence work at the agreed-upon time, CAEATFA, upon five (5) days’ written notice to the Contractor, reserves the right to terminate the Agreement. In addition, the Contractor shall be liable to CAEATFA for the difference between the Contractor’s proposal price and the actual cost of performing work by another contractor.

b. All performance under the Agreement shall be completed on or before the termination date of the Agreement.

D. PREFERENCE AND INCENTIVE PROGRAMS

1. Small Business or Microbusiness Preference (https://www.dgs.ca.gov/PD/Services/PageContent/Procurement-Division-Services-List-Folder/Apply-for-or-Re-apply-as-Small-BusinessDisabled-Veteran-Business-Enterprise)

A five percent (5%) preference will be applied to certified small business firms submitting proposals (See Attachment 12). To obtain the preference, firms must be certified as a small business at the time the proposal is submitted. The firm MUST include an updated copy of its Small Business Certificate to obtain the preference. The 5% preference is issued only for computation purposes to arrive at the successful firms and does not alter the amounts of the actual proposals. Once each proposal has been scored, if the highest responsible firm is not a certified small business or microbusiness, 5% of the highest scoring proposal is added to the total “earned” points for each proposal submitted by a certified small business. These final numbers, with the 5% included, are then used to determine the highest scoring proposal.

Questions regarding the small business certification or preference approval should be directed to the Office of Small Business & DVBE Services (“OSDS”) at (916) 375-4940 or can be found at the website listed above.

2. Non-Small Business or Microbusiness Preference (https://www.dgs.ca.gov/PD/Services/PageContent/Procurement-Division-Services-List-Folder/Apply-for-or-Re-apply-as-Small-BusinessDisabled-Veteran-Business-Enterprise)

A five percent (5%) proposal preference is available to a non-small business claiming at least twenty-five percent (25%) California certified small business subcontractor participation (See Attachment 13). If claiming the non-small business subcontractor preference, the proposal response must include a list of the small business(es) with which the firm commits to subcontract in an amount of at least 25% of the net proposal price with one or more California certified small businesses. Each listed certified small business must perform a "commercially useful function" in the performance of the Contract as defined in Government Code Section 14837(d)(4).

The required list of California certified small business subcontractors must be attached to the proposal response and must include the following: 1) subcontractor name, 2) address, 3) phone number, 4) a description of the work to be performed and/or products supplied; and 5) the dollar amount or percentage of the net proposal price (as specified in the solicitation) per subcontractor.

Firms claiming the 5% preference must commit to subcontract at least 25% of the net proposal price with one or more California certified small businesses. Completed certification applications and required support documents must be submitted to the OSDS no later than 5:00 p.m. on the proposal due date, and the OSDS must be able to approve the application as submitted. Questions regarding certification should be directed to the OSDS at (916) 375-4940.

The preference to a non-small business firm that commits to small business or microbusiness subcontractor participation of 25% of its net proposal price shall be 5% of the highest responsive, https://www.dgs.ca.gov/PD/Services/PageContent/Procurement-Division-Services-List-Folder/Apply-for-or-Re-apply-as-Small-BusinessDisabled-Veteran-Business-Enterprise https://www.dgs.ca.gov/PD/Services/PageContent/Procurement-Division-Services-List-Folder/Apply-for-or-Re-apply-as-Small-BusinessDisabled-Veteran-Business-Enterprise https://www.dgs.ca.gov/PD/Services/PageContent/Procurement-Division-Services-List-Folder/Apply-for-or-Re-apply-as-Small-BusinessDisabled-Veteran-Business-Enterprise https://www.dgs.ca.gov/PD/Services/PageContent/Procurement-Division-Services-List-Folder/Apply-for-or-Re-apply-as-Small-BusinessDisabled-Veteran-Business-Enterprise responsible firm’s total score. A non-small business, which qualifies for this preference, may not take an award away from a certified small business.

3. Disabled Veteran Business Enterprise (DVBE) Incentive Program

Mandatory California Disabled Veteran Business Enterprise (DVBE) Program Participation has been waived for this proposal.

This solicitation provides an incentive for DVBE participation. DGS established a DVBE incentive pursuant to Senate Bill 115, Chaptered October 3, 2005, and the military and Veterans Code section 999.5(a). The regulations apply to all competitive solicitations for public works, services, goods, and information technology goods and services posted or released after October 9, 2007. The DVBE incentive is required in solicitations that include DVBE program requirements and may be offered in other competitive solicitations. DGS policy implements this program by rewarding prime proposers for increased DVBE participation: the more DVBE participation, the greater the incentive. This incentive program helps State agencies to meet their annual DVBE participation goals.

Attachment 14 outlines the DVBE Incentive Program. Proposers seeking the DVBE incentive must submit a completed DVBE Declarations form (STD. 843) that demonstrates DVBE participation and qualification for a DVBE incentive, with proposal submittal. All disabled veteran owners and disabled veteran managers of the DVBE(s) must sign the form(s). The DVBE Incentive participation is optional and at the discretion of the proposing firm.

NOTE: For this solicitation, the Incentive application is based on the High Score Method and shall not exceed five percent (5%) of the total score (see table in Attachment 14).

Any contract awarded to a company committing to subcontract with a certified DVBE will follow requirements as provided in MVC 999.7 including compliance with the Std. 817 reporting process, and permanent withholds and deductions for non-compliance.

E. REQUIRED ATTACHMENTS

For the proposal to be considered responsive, all required attachments listed on Attachment 1 must be completed and included with the proposal by the dates and times shown in Key Action Dates (Section C, Item 1).

Attachment 1

ATTACHMENT 1

REQUIRED ATTACHMENT CHECKLIST

A complete proposal or proposal package will consist of the items identified below. Complete this checklist to confirm the items in your proposal. Place a check mark or “X” next to each item that you are submitting to the State. For your proposal to be responsive, all required attachments must be returned. This checklist should be returned with your proposal package also.

Attachment # Attachment Name/Description

Attachment 1 – Required Attachment Checklist

Attachment 2 – Proposal/Proposer Certification Sheet

Attachment 3 – Minimum Qualifications Certification

Attachment 4 – Key Personnel and Experience

Attachment 5 – Proposer References

Attachment 6 – Cost Proposal Worksheet

Attachment 7 – Payee Data…