Community Decarbonization Fund - Financing for Disadvantaged Community Lenders
Open State & local contract opportunity Posted
- Solicitation number
- 2097730
- State
- New York
- Responses due
Opportunity facts
Updated .
About this opportunity
NY Green Bank has issued a Request for Proposals (RFP 23) for the Community Decarbonization Fund, seeking regulated and unregulated financial entities to provide capital at concessionary rates for clean energy and sustainable infrastructure projects benefiting disadvantaged communities (DACs) in New York State. The procurement targets entities such as Community Development Financial Institutions (CDFIs), credit unions, depository institutions, and not-for-profit lending organizations capable of deploying capital into specific project types. Eligible projects must provide DAC benefits, be located in NYS, focus on efficiency-first interventions that reduce energy consumption and greenhouse gas emissions, and utilize approved technologies. Proposals will be evaluated on criteria including successful loan origination track records, efficiency-focused decarbonization strategies, capacity to lend in NYS, and demonstrated project pipelines or credible plans to develop such pipelines. The solicitation will remain open on a rolling basis until NY Green Bank determines sufficient responses have been received, with a current end date of December 30, 2027, at 3:00 PM, and an anticipated contract term of five years covering all NYS counties.
The procurement has specific eligibility requirements targeting certified CDFIs, specialty lenders focused on affordable housing, cooperatives, clean energy projects, and related contractors, including potential for-profit subsidiaries operating in support of parent entity missions. Eligible applicants must demonstrate capabilities in lending to projects located in DAC census tracts or serving households at or below 80% Area Median Income, with priority given to organizations showing prior success or detailed plans for developing lending capacity in disadvantaged communities. No specific service-disabled veteran-owned business set-aside is noted for this opportunity. While no specific budget range is explicitly stated, the solicitation suggests significant potential for capital deployment through concessionary financing mechanisms. The procurement aims to support New York State's Climate Leadership and Community Protection Act goals by channeling financial resources into energy-efficient, emissions-reducing community infrastructure and building projects.
Opportunity text
Description of goods to services to be bid:
NY Green Bank's RFP 23 for the Community Decarbonization Fund invites regulated and unregulated financial entities (including but not limited to community development financial institutions (CDFIs), insured credit unions and depository institutions, and not-for-profit corporations that perform lending activities) actively deploying capital into clean energy and sustainable infrastructure and related small businesses that benefit disadvantaged communities (DACs) in New York State to submit proposals for NY Green Bank capital at concessionary rates. Responses will be evaluated on a rolling basis while the solicitation is open. Once NY Green Bank determines that sufficient responses have been received to achieve its intended impact, the solicitation will be closed.
If changes are made to this solicitation notification will be posted on NYSERDA's website at:
www.nyserda.ny.gov/funding-opportunities
Eligible Applicant Criteria
Eligible Applicants must be one of the following:
• A certified Community Development Financial Institution ("CDFI"), including:
? Community Development Banks
? Community Development Credit Unions
? Community Development Loan Funds
? Community Development Venture Capital Funds
• A specialty lender, defined as a non-profit organization or government-charted institution or public housing agency with a mission that includes developing, managing, or investing in:
? Affordable housing solutions;
? Cooperatives;
? Clean energy projects; and
? Contractors
• A for-profit subsidiary of any of the categories listed above, provided that the for-profit subsidiary is operating exclusively in support of the tax-exempt or municipal mission of the parent entity.
Eligible Project Criteria
Eligible Applicants must be able to demonstrate that they lend to Eligible Projects which:
2.2 Eligible Project Criteria
Eligible Applicants must be able to demonstrate that they lend to Eligible Projects which:
1 Provide DAC Benefits:
Eligible Projects are deemed to provide DAC Benefits if they satisfy one or more of the following requirements:
(a) Located in a DAC census tract, as defined under the final rules adopted pursuant to New York State's Climate Leadership and Community Protection Act of 2019 ("CLCPA" or "Climate Act").
(b) Not located in a DAC census tract but:
i. Project involves a residential building where at least 50% of the housing units are restricted upon initial occupancy to households making 80% AMI or less via a regulatory agreement with a public agency; or
ii. Project involves a building that has a demonstrable impact on households making 80% AMI or less or a vulnerable population (e.g., a facility that predominantly serves such households such as a Federally Qualified Health Center or a multi-service center operated by a non-profit organization).
2 Are located in NYS;
3 Are focused on interventions that follow an efficiency-first approach (e.g., weatherization, load reduction, etc.) that maximize bill savings, improve comfort, and result in healthy, clean, and resilient buildings and communities with consideration to energy affordability or otherwise contribute to GHG emissions reductions in support of NYS clean energy policies, including the CLCPA; and
4 Utilize an Eligible Technology (see Appendix 2: Eligible Technologies)
Eligible Applicants can demonstrate that they lend to Eligible Projects by having:
• Either (i) a successful track record of delivering capital through the origination of successful, performing loans for buildings, businesses, and projects in DACs or (ii) a detailed and credible plan (consistent with the management team's experience and capabilities) to develop the capacity to participate in Eligible Project lending;
• Efficiency-first building decarbonization and energy affordability aligned offerings that utilize Eligible Technologies and lead to GHG emissions reductions supportive of CLCPA goals;
• Capacity to participate in Eligible Project lending in NYS; and
• Either (i) a pipeline of forward-looking opportunities of Eligible Projects in New York State or (ii) a detailed and credible plan (consistent with the management team's experience and capabilities) to develop such a pipeline.
Service-Disabled Veteran-Owned Set Aside: No
Due date:12/30/2027 3:00 PM
December 30, 2023
Contract term: 5years
County(ies): All NYS counties
Location: NYS
Business entities awarded an identical or substantially similar procurement contract within the past five years:
None
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