New Jersey seeks P3 advisory pool

A request for proposals (RFQ) has been issued by the Treasurer of the State of New Jersey for a pool of P3 advisors to provide advice on certain P3 projects.

Under the plans, the RFQ (available here) will see advisors provide evaluation of proposed transactions by various local government units. 

The advice shall include:

  • a review of any proposed bond issuance 
  • economic forecasts
  • feasibility studies
  • building plans
  • legal structure
  • municipal process
  • participant qualifications 
  • as well as all other material aspects of the P3 project proposal
  • review of P3 project plans to determine appropriateness of risk and reward allocation

While experience in specific sectors is not required, exposure to previous P3 projects will be of value.

Once selected to the pool, firms will be designated for specific P3 projects and their fee will be determined in accordance with the RFQ. 

Firms wishing to respond to the RFQ should familiarize themselves with Chapter 90 of the New Jersey State law. The advisory pool will be appointed for one year.

Questions must be submitted by December 26, 2018, while responses to the RFQ are due by January 9, 2019.