CAEATFA01-26 - Trustee Services for the Property Assessed Clean Energy (PACE) Loss Reserve Program

The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) is issuing Request for Proposals Number CAEATFA01-26 to procure trustee services for the Property Assessed Clean Energy (PACE) Loss Reserve Program. The selected trustee firm will be responsible for establishing and maintaining a separate trust account, processing and disbursing claim payments based on written requisitions from CAEATFA, providing monthly account statements and claim activity summaries by the 15th of each month, and granting designated CAEATFA staff on-demand electronic access to account information. The PACE Loss Reserve Program currently supports over 72,617 residential PACE financings with outstanding values exceeding $1.6 billion. Minimum qualifications for prospective bidders include combined capital and surplus of at least $50 million, maintenance of a physical office location with key personnel in California, a minimum of two years in operation, and demonstrated freedom from conflicts of interest. Proposals will be evaluated on four weighted criteria: Qualifications of the Firm (30 points), Experience as Contractor (20 points), Qualifications of Key Personnel (15 points), and Fee Schedule/Cost (35 points), with a minimum of 85 points required for a proposal to be considered responsive. Written questions must be submitted by May 1, 2026, at 12:00 p.m. PT, with responses posted on May 5, 2026; proposals are due by May 15, 2026, at 12:00 p.m. PT; and the evaluation period runs from May 15-21, 2026, with a Notice of Intent to Award issued on May 22, 2026.

CAEATFA will apply a 5% small business preference to certified small businesses or non-small businesses committing to 25% subcontractor participation with certified small businesses, and a Disabled Veteran Business Enterprise incentive program is available. The incumbent trustee is Zions Bancorporation, National Association, which has served under Contract No. CAEATFA01-23 since July 1, 2023. The cost proposal must include fee schedules based on a hypothetical scenario of 130 claims in year one, 250 claims in year two, and 330 claims in year three, with an average claim amount of $10,000. The selected contractor must comply with all modifications outlined in Addenda No. 1 and No. 2, issued on May 5, 2026, and May 6, 2026, respectively. The contract term is three years, commencing July 1, 2026, through June 30, 2029, with a maximum contract value of $49,000.00 for the entire three-year period. Proposals must be submitted to CAEATFA's office at P.O. Box 942809, Sacramento, CA 94209, or hand-delivered to 915 Capitol Mall, Sacramento, CA 95814.