25 year Design-Build-Operate franchise for upgrade of City's wastewater treatment works and long term operations in accordance with applicable federal and state permit requirements.
Delivery Method as described in the country where it's located:
Design Build Operate
Is the project still active:
25 year lease to a special purpose entity responsible for installing $30 million in wastewater treatment facilities and retiring $8 million in existing City wastewater debt, while maintaining and operating the system over the lease. Independent assessment that Life Cycle Delivery produced $116 million in savings to the City over the benchmark during the 25 year lease.
United States of America
Souces of Project Support (Non-monetary)
Land: Existing facilities leased to DBO contractor.
Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): 25 year lease, in which sewer rates are competitively determined initially, and adjusted only in accordance with the Consumer Price Index and Chemical indices.
Souces of Project Support (Monetary)
From Private Capital Markets Directly to Producers as Debt
From Producers as Equity: Some equity from special purpose entity.
Project Delivery & Finance Method
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independent checking engineer? Yes
Project Finance Method: All By Private Sponsor
Qualifications Based Selection
Request for Qualifications
Request for Proposals
Invitation for Bids
Term for Key Components & Forms of Contract
Combined Term: Initial Design, Construction, O&M Period
Project Value (If and As Known)
Date of Estimated Project Value: September 1, 1995