Title
AUTHORIZATION TO ENTER INTO
AN EFFICIENCY SERVICES AGREEMENT, AN INTERGOVERNMENTAL AGREEMENT WITH THE CHICAGO INFRASTRUCTURE TRUST
Body
To: The Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
It is recommended that the General Superintendent and CEO or his designee enter into an Intergovernmental Agreement with the Chicago Infrastructure Trust ("Trust") to provide energy efficiency services to Chicago Park District buildings. The Trust, as project owner, will undertake the development, acquisition and construction of the project and the District's obligation will be limited to the energy savings produced by the project. The District incurrs no payment obligation if the project does not reduce energy costs. No work may commence and no payment shall be made to the Trust prior to the execution of a written agreement.
II. Award Information
Contractor: Chicago Infrastructure Trust
35 East Wacker Drive, Suite 1450
Chicago, Illinois 60601
Company Type: Illinois Not-for-Profit, 501c3 Corporation and an instrumentality of the City of Chicago which was incorporated upon City Council Resolution and Executive Order of Mayor Rahm Emmanuel
Contract Term: Not to exceed 15 years
Interest Rate: The Trust will take Tax-Exempt debt onto its own balance sheet for the purposes of financing the energy efficiency upgrades on Park properties. Chicago Park District will commit to share in the realized energy savings, and will be billed per unit of energy saved at a rate less than or equal to what is currently being paid to use energy.
Contract Amount: Not-to-exceed $4,500,000 in energy efficiency upgrades
Scope of Services: Design, install, and ensure the maintenance of energy efficiency upgrades and services in up to 68 parks districtwide
Affirmative
Action Goals: The Minority- and Women-Owned Participation for this contract include: 25% Minority-Owned and 5% Women-Owned.
Authorization: Authorize the Gene...
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