Request for Proposals: Cash Management/ Investment, Custody, and Advisory Services

November 6, 2009
Questions & Answers for Cash Management/Investment, Custody and Advisory Services RFPPDF

October 19, 2009
The Long Island Power Authority (“Authority”) hereby solicits proposals from experienced firms in response to this Request For Proposals (“RFP”) for the provision of Cash Management/ Investment, Custody and Advisory Services as described herein. Proposers should be experienced in providing the required services to other entities. Proposers must bid on the three areas of required services. Proposers may use sub-consultants in order to perform all required services, however, the Authority will only contract with one entity for the provision of services. Services under contract(s) issued in connection with this RFP are estimated to commence on or about the first or second quarter of 2010.

RFP DownloadsPDF

Calendar of Events

The schedule of key dates in this RFP is as follows:
Arrow RFP Issuance October 19, 2009
Arrow Deadline for Submission of Questions October 30, 2009
Arrow Submission of Notice of Intent to Propose November 6, 2009
Arrow Proposals Due Date November 10, 2009
Arrow Interviews (if desired) Dates to be Determined

Questions

Any questions regarding this RFP should be submitted in writing and faxed to Mr. Herb Hogue, Vice President and Chief Financial Officer at (516) 719-9885, on or before October 30, 2009. All questions and answers will be posted on LIPA’s Web site at www.lipower.org as they are received. No other communication of questions and answers will be made.

Notice of Intent

It is requested that firms interested in submitting a proposal in response to this RFP fax a Notice of Intent to Propose to the attention of Mr. Herb Hogue at (516) 719-9885 on or before November 6, 2009. Such notice should contain the Proposer’s name, address, phone number, e-mail address and contact person. Submission of a Notice of Intent is not a pre-requisite for submitting a proposal.

Submission of Proposals

Six (6) 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. on November 10, 2009, in a sealed package or packages. All proposals should be delivered to:

Long Island Power Authority
333 Earle Ovington Boulevard, Suite 403
Uniondale, NY 11553
Attention: Herb Hogue, Vice President and Chief Financial Officer

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 Proposer(s) selected for an interview will be notified in advance of the interview date(s).

Contract Period

The term of the contract will be for a period of five (5) years. The Authority at any time, in its sole discretion, may terminate the contract, or postpone or delay all or any part of the contract upon written notice.

Contact Information

Any contact, beyond that allowed in this RFP, 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., oral, written or electronic communications which a reasonable person would infer as an attempt to 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, are Herb Hogue, Vice President and Chief Financial Officer, (516) 719-9821; Stephen Clark, Executive Director of Financial Administration, (516) 719-8637; Mary Rynn, Manager of Treasury Operations, (516) 719-9834; Tim Sullivan, Director of Financial Planning, (516) 719-9822; Michael Standridge, Director of Corporate Contracts and Procurement, (516) 719-8620; and William Funk, Contract Specialist, (516) 719-9235. Please use Mr. 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. A finding of non-responsibility for certain impermissible contacts will preclude the award of a contract, and in the event of two findings within a 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 VII.5.b.