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Energy Improvement Corporation, a New York State Local Development Corporation, issues RFP for Credit Services

February 28, 2013

YORKTOWN HEIGHTS, N.Y., Feb. 28, 2013 /PRNewswire/ — The Energy Improvement Corporation (EIC) said today that it has issued a Request for Proposals (RFP) seeing to establish low-cost lines of credit ranging from $1 to $10 million in conjunction with its Energize NY Benefit Finance Program. A firm or group of qualified firms will be selected. The program is part of the U.S. Department of Energy’s Better Building initiative, the New York State Energy and Development Authority’s (NYSERDA) and EIC’s own programs with member municipalities to help property owners save money and use clean energy. Proposals are due by March 19.

EIC is a New York State Public Benefit and Local Development Corporation that works on behalf of its municipal members to help achieve local and statewide community energy efficiency, renewable energy and GHG emission reduction goals, while also supporting a clean energy economy. The Energize NY Benefit Finance Program developed by EIC works under the authority given to the municipalities of NYS through Article 5-L of the General Municipal Law of New York State.

EIC’S operations are funded by the Department of Energy and NYSERDA with $2.625 million acquired through grants awarded to the Town of Bedford. Currently EIC financing is ready to be offered through its municipal members including those named in the Town of Bedford 2010 Better Building grant application to the US Department of Energy.

EIC’s programs include:

  • Providing innovative community-based hyper-local marketing and outreach services to link NYSERDA programs to the municipal and community level through the Energize NY Program
  • Promoting and financing qualified energy improvements to real property through the Energize NY Benefit Financing Program

The program provides financing for energy efficiency and renewable energy improvements made by commercial and not-for-profit owners of multi-family, retail, office and commercial and industrial properties. EIC leverages NYSERDA’s existing upgrade programs to ensure qualified and dependable energy efficiency and renewable energy projects.

To enable EIC to repay the funds that it borrows under the Energize NY, member municipalities impose an annual tax charge on each property in its jurisdiction that is benefiting from financing made under the program. The charge is sufficient to cover the annual principal and interest payable to EIC on the financing provided to the property owner. These charges are collected and enforced by the municipal member in the same manner as regular municipal taxes and as otherwise provided by Article 5-L.

For more information on the RFP, potential respondents should visit the NYS Contract Reporter at:

http://www.nyscr.org/Public/Index.aspx and http://energizeny.org/page/EIC_RFP to review the RFP and for additional information.

SOURCE Energy Improvement Corporation


Source: PR Newswire