Active SLED Opportunity · NEW YORK · NEW YORK
AI Summary
NY Green Bank seeks proposals from financial entities to provide concessionary capital for clean energy and sustainable infrastructure projects benefiting disadvantaged communities in New York State under the Community Decarbonization Fund RFP 23 Version 2.0.
Description of goods to services to be bid: The following revisions have been made on November 13, 2025: On November 13, 2025, NY Green Bank (“NYGB”) publicly issued its updated Request for Proposals (“RFP”) 23 (Version 2.0). RFP 23 was originally issued by NYGB in April 2023. The changes in Version 2.0 are intended to incorporate various structural changes to the illustrative terms and conditions of Community Decarbonization Fund loans made pursuant to this RFP (“CDF Loans”). Capitalized terms used but not separately defined in this Summary of Revisions have the meanings respectively given to them in RFP 23. Changes reflected in Version 2.0 of RFP 23 include, without limitation, the following: Corporate separateness structure. CDF Loans will be made to a newly-formed, bankruptcy-remote special purpose entity that is wholly owned by the Eligible Applicant. The Eligible Applicant will provide full payment guarantee for the CDF Loan and may receive distributions from Borrower subject to certain conditions and frequency limitations. 2. Accordion option. If the initial commitment is lower than the maximum amount permitted under RFP 23, Borrower may make a one-time request for additional commitment up to such maximum amount, subject to NYGB’s approval. 3. Expansion of projects eligible for CDF Loan funding. The definition of disadvantaged communities (“DAC”) is expanded to fully encompass DAC criteria currently in effect pursuant to the New York State Climate Leadership and Community Protection Act of 2019 (“CLCPA”). The requirement that 50% of cumulative CDF Loan advances must be allocated to Eligible Projects located in DAC census tracts designated under CLCPA is removed. 4. Limitation on Eligible Loan maturity. The maturity date of any Eligible Loan made by Borrower with CDF Loan funds may not exceed the maturity date of the CDF Loan. 5. Creation of security interest. NYGB will have a security interest in all assets of Borrower, including control over certain Borrower collateral accounts. 6. Collateral account sweep upon material adverse event. Funds in Borrower collateral accounts will be applied to repay the CDF Loan upon any statutory, regulatory or policy change to the Community Reinvestment Act, Community Development Financial Institutions Fund, and/or New Markets Tax Credit program, and any other event or circumstance that has, or in Lender’s opinion could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect, until NYGB deems such event or circumstance to be remedied. 7. Default interest rate. Default Interest Rate will be lowered from 4% to 3%. 8. Expenses reimbursement. Borrower will reimburse expenses of Lender and its advisers related to any default, Event of Default or amendment of the CDF Loan facility. 9. Assignment by notice. NYGB may assign the CDF Loan upon prior notice to the Borrower, without Borrower’s approval. 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. Business enterprises awarded an identical or substantially similar procurement contract within the past five years: None
SLED stands for State, Local, and Education. These are solicitations issued by state governments, counties, cities, school districts, utilities, and higher education institutions — as opposed to federal agencies.
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