Request for Proposal for Underwriting, Investment, Banking Services
and/or Swap Counterparty
Update - March 21, 2012
In order to allow the Authority’s staff more time to complete the
evaluation process and make its final selection, the Authority will
not be bringing the recommendation for its selection of underwriters
for action at the March 29, 2012 Board of Trustees meeting as
previously indicated in the schedule of events. Currently, the
Authority plans to make its recommendation to the full Board of
Trustees at the April 26, 2012 scheduled Board of Trustees meeting.
Issuance Date - January 10, 2011
The Long Island Power Authority (the “Authority”) is soliciting firms through this Request for Proposal (“RFP”) to provide underwriting and investment banking services and/or swap counterparty to the Authority and its subsidiary, LIPA, (collectively referred to as “LIPA”) as described herein. Proposers should display knowledge of the Authority and be experienced in providing underwriting services to public utilities and New York State issuers. LIPA reserves the right to select one or more firms in connection with this RFP.
RFP Downloads
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- Cover Letter (PDF)
- Request for Proposals for Underwriting, Investment, Banking Services and/or Swap Counterparty (PDF) | Word Format
-
Diversity Questionnaire
(PDF) |
Word Format
- State of New York Vendor Responsibility Questionnaire | Instructions - Word Format
- LIPA Guidelines Regarding Procurement Lobbying and Contractor Disclosure Forms
Calendar of Events
The schedule of key dates in this RFP is as follows:
- RFP Issuance...........................................................................January 10, 2012
- Deadline for submission of Questions ..............................January 19, 2012
- Submission of Notice of Intent to Propose.........................January 25, 2012
- Proposal Due Date .................................................................February 2, 2012 by 3:00 p.m. EST
- Interviews (if necessary) ........................................................Week of March 5, 2012
- Authority Board of Trustees Action .......................................March 29, 2012
Questions
Any questions regarding this RFP should be submitted in writing and faxed to Mr. Stephen Clark, Executive Director of Finance at (516) 222-9137 on or before January 19, 2012. Responses to any questions received will be posted on LIPA’s website at www.lipower.org as they are received. No other communication of questions and answers will be made.
Notice of Intent
Firms interested in submitting a proposal in response to this RFP should fax a Notice of Intent to Propose to the attention of Mr. Stephen Clark, Executive Director of Finance at (516) 222-9137 on or before January 25, 2012. Such notice should contain the Proposer’s name, address, phone number, e-mail address, contact person, and the scope(s) of services that will be proposed. Submission of a Notice of Intent is not a pre-requisite for submitting a proposal.
Submission of Proposals
Five (5) copies of your proposal and a CD ROM of your proposal in either Microsoft Word or PDF format are due no later than 3:00 p.m. EST on Thursday, February 2, 2012 in a sealed package or packages. LIPA will not consider proposals received after this deadline. All proposals should be delivered to:
- Long Island Power Authority
333 Earle Ovington Boulevard, Suite 403
Uniondale, NY 11553
Attention: Stephen Clark, Executive Director of Finance
Proposals received after the Proposal Due Date will not be considered, nor will faxed or e-mailed proposals, whenever received. Failure to submit a proposal on time will not be waived by the Authority under any circumstances (e.g., traffic conditions, mail or courier failure, etc.).
The Authority may conduct interviews of those proposers found to be the most qualified to provide the required services. If interviews are conducted, the Proposers selected for an interview will be notified in advance of the interview date(s).
Communication During RFP Process
OTHER THAN AS PROVIDED FOR IN THIS RFP, ANY CONTACT WITH THE AUTHORITY BOARD MEMBERS, STAFF OR LIPA CONSULTANTS DURING THE PENDENCY OF THIS RFP MAY BE GROUNDS FOR DISQUALIFICATION FROM THE RFP PROCESS.
Pursuant to State Finance Law sections 139-j and 139-k, this RFP includes and imposes certain restrictions on communications between the Authority and Proposers during the procurement process. A Proposer is restricted from making contacts (i.e., an oral, written or electronic communications which a reasonable person would infer as an attempt to unduly influence the award, denial, or amendment of a contract) from issuance of the RFP through final award and approval of the resulting Procurement Contract by the Authority and the Office of the State Comptroller (“restricted period”) to any Authority staff or Trustee (or consultants) other than as designated herein, unless it is a contact that is included among certain statutory exemptions as set forth in State Finance Law sections 139-j(3) (a). The Authority’s designated staff for this RFP, as of the date hereof, is Stephen Clark, Executive Director of Finance, (516) 719-8637; Kenneth Kane, Controller, (516) 719-9880; Michael Standridge, Director of Corporate Contracts and Procurement, (516) 719-8620; William Funk, Contract Specialist, (516) 719-9235; Jonathan Chandler, (516) 719-9274; and from the Authority’s financial advisor, Public Financial Management, Gene Devlin, (914) 921-2849, Michael Mace, (704) 541-8339 and Carolyn Bruch, (215) 557-1461.
Please use Michael Standridge as the primary point of contact. Authority staff and Trustees (and consultants) are also required to obtain certain information when contacted during the restricted period and make a determination of the responsibility of the Proposer pursuant to statutory provisions. Certain findings of non-responsibility can result in rejection for contract award, and in the event of two findings within a four (4) year period, the Proposer is debarred from obtaining governmental Procurement Contracts. Further information about these requirements can be found in the Authority’s Guidelines Regarding Procurement Lobbying which is posted on the Authority’s web site for this RFP.
The Authority will not provide reimbursement for any costs or expenses incurred in connection with this RFP, including the costs of preparing and submitting a response, providing any additional information or attending an interview. All material that is submitted in response to this RFP will become the sole property of the Authority. The Authority expressly reserves the right to utilize any and all ideas submitted in the proposals received unless covered by legal patent or proprietary rights which must be clearly noted in the proposal submitted in response to the RFP. See also RFP Section VIII.A.e.
Contract Period
The underwriting appointments made pursuant to this RFP will be effective for a period of up to five (5) years from the date of award. The Authority reserves the right to re-procure these services through a competitive solicitation at any time. Performance of the underwriting team will be reviewed on an ongoing basis and any member firm of the underwriting team may be eliminated at any time by the Authority. The Authority reserves the right to change the underwriting team at its sole discretion.
The underwriting team will be divided into at least two separate groups: senior and co-managing underwriters.
