Final LOI for PACE submission.pdf

Letter of Interest for PACE submission

USDA PACE

Please utilize this format to fill out a document and upload it in pdf form as part of your application for USDA PACE funding via Grants.gov.

Please note that all USDA PACE Letter of Interest (LOI) information must be submitted on Grants.gov. This includes the completion of Standard Form 424, Application for Federal Assistance (SF 424). The SF 424 is a fillable form that must be completed on Grants.gov by the LOI submitter. The SF 424 will include the LOI submitter’s name and contact information. The LOI submitter must submit all required attachments in Section 15 of the SF 424. The information detailed below must be provided as an attachment. For LOIs with multiple projects, you should use a unique name and number for attachments related to each project (i.e., Entity Project 1, Entity Project 2, etc.).

Please also note that Applicants must use the RUS geospatial mapping tool found on the PACE USDA website to draw the service areas associated with each PACE project and then upload Shapefile(s) to Grants.gov as part of an LOI submission. Applicants must go to https://ruraldevelopment.maps.arcgis.com/apps/webappviewer/index.html?id=0a91fdaecff34b 9eb9a9f378085c41ba and draw a separate Shapefile of the service area for each proposed project to be included in a single PACE application. The applicable service area(s) must demonstrate that the Project(s) will provide renewable energy to a minimum rural percentage of at least 50 percent as outlined in Section C.3(a) of the USDA PACE funding announcement.

Additional information on the requirements and submission of LOIs through Grants.gov can be found in the LOI Guide on the PACE website.

This letter confirms that [Insert name of the LOI submitter] intends to seek a PACE Program loan from the Rural Utilities Service (RUS) pursuant to the NOFO published in the Federal Register on May 16, 2023. [Insert name of the LOI submitter] hereby represents that it meets all the requirements as specified in the NOFO and herewith submits the mandatory information required to comply with the first step of the loan application process.

1. LOI Submitter’s Profile and Point of Contact Information.

(i) Indication whether the LOI submitted is: 1) by a single entity (i.e., one Applicant) or 2) with others (i.e., under a Consolidated LOI or a Joint Venture Ownership LOI) where each of the Applicants (“Co-Applicants”) own separate proposed Projects or have a percent ownership of one or more of the proposed Projects.

a. If a single entity submits the LOI, an indication of its legal structure (e.g., cooperative, corporation, limited-liability company, state or local government entity, municipality, federally recognized Tribe, non-profit). LOI submitter shall also indicate whether its legal structure was incorporated to represent other entities or whether any parent companies exist, including the corporate structure of such entities.

https://ruraldevelopment.maps.arcgis.com/apps/webappviewer/index.html?id=0a91fdaecff34b9eb9a9f378085c41ba https://ruraldevelopment.maps.arcgis.com/apps/webappviewer/index.html?id=0a91fdaecff34b9eb9a9f378085c41ba

b. If multiple entities are submitting the LOI together, an indication of whether the

Co-Applicants are participating in a Consolidated LOI or a Joint Venture Ownership LOI. The legal structure of Co-Applicants together and as individuals must be indicated, including any parent companies and their corporate structure.

(ii) A primary point of contact (POC) that represents the LOI submitter and, if applicable, all Co-Applicants of the Consolidated LOI or Joint Venture Ownership LOI. This should include the name and title of the POC and general contact information, including a phone number, street address, and email address to receive future correspondence such as an RUS Invitation to Proceed.

(iii) For the Applicant, and each Co-Applicant, if any, provide the following information

(as outlined in Section D.2(a) of the PACE NOFO):

a. Legal name.

b. Legal address and principal place of business.

c. Tax identification number and Unique Entity Identifier (UEI) number from the

System for Award Management (SAM) registry.

d. If the Applicant or Co-Applicant is a state or local governmental entity, a certification that it is permitted to participate in contracts with the federal government, incur debt, and provide security for such debt.

e. A certification as to whether the Applicant or Co-Applicant over the last 10 years has been placed in receivership, liquidation, has been under a workout agreement, has declared bankruptcy, and/or has had a decree or order issued for relief in any bankruptcy, insolvency, or other similar action.

2. Financial Reporting

A copy of Applicant’s balance sheet and income statements for the shorter of the last three years or the years the LOI submitter has been in operation. If the LOI submitter has no operating history, the LOI submitter must provide RUS with information RUS deems necessary to evaluate the financial strength of the LOI submitter. If the LOI submitter is filing under a Consolidated LOI on behalf of other applicant(s), then financial reporting must be supplied from each applicant.

3. Technical Description of the Project

A technical description of the Project(s). The Project(s) description shall not exceed 1500 words and must include the following:

(i) Type of loan being requested, Project Loan or System Loan. See Section B.5 of the

PACE NOFO.

(ii) A description of each Project [i.e., each Renewable Energy Resource (RER) and/or energy storage systems] being requested for PACE financing that includes the following: Project name, location, type, size (i.e., capacity of RER and capacity and energy of EES where capacity is in megawatts (MW) and energy is in megawatt-hours (MWh).

(iii) Verification that the Project will be designed, constructed, and operated based on Commercially Available Technology.

(iv) The estimated dates to start construction and to achieve commercial operation.

(v) Proposed financial structure of the owners, equity investors, and other participants, which shall include estimated sources and uses of all funds.

a. The estimated total capital cost of each Project and the amount of award funds being requested to finance each Project.

b. Indicate other federal funding related to each project, this includes funding that each project may have received, has applied for, or intends to apply for.

(vi) If applicable, a description and status of any Power Purchase Agreement or revenue generating agreements that will be used to sell and deliver the electrical output of the Project(s) to Off-Takers.

(vii) If applicable, a description of any existing power sales contracts, such as wholesale power contracts, between Off-Takers and its members.

(viii) Status of, and estimated timelines to complete, if known, any applicable federal, state, or local permitting or environmental review processes.

4. Other Information

(i) Ratepayer and Community Benefit. A brief discussion from the LOI submitter that if it is invited to submit an Application, it will demonstrate in its Application how it will pass on a portion of the savings from the loan forgiveness to the Off-Taker as described in Section B.6 of the NOFO and that the LOI submitter will provide the required information from Section D.2(b)(19) of the NOFO for the Community Benefit Plan.

(ii) Prevailing wage. Pursuant to 7 U.S.C 8103(f), a certification that, the LOI submitter will comply with the provisions of the Davis-Bacon Act so that any laborers and mechanics employed on the Project or any contractor or subcontractor in: (A) the construction of such facility, and (B) with respect to any taxable year, for any portion of such taxable year the alteration or repair of such facility, shall be paid wages at rates not less than the prevailing rates for construction, alteration, or repair of a similar character in the locality in which such facility is located as most recently determined by the Secretary of Labor, in accordance with subchapter IV of chapter 31 of title 40, United States Code.

(iii) Loan Forgiveness Level. A statement as to what level and category of loan forgiveness outlined in Section B.6 of the NOFO that the LOI submitter believes it is eligible and the reason(s) why it believes it is eligible for that specific level of loan forgiveness.

(iv) An indication of which Project(s), if any, will serve a Substantially Underserved Trust Area (SUTA) area as defined in Section A.3 of the PACE NOFO.

Attestation: [Name of the LOI submitter] commits to immediately notify RUS in writing should the LOI submitter decide to withdraw from consideration for the PACE loan before submitting a complete application.

[Digital Signature of Manager/ CEO of the LOI submitter] Address/Contact Information Enclosures (itemize)

Address/Contact Information