The RFP Documents (the Documents) are only available by contacting the following SJCG Contact by email requesting the Documents under Subject Line "Request for Documents No. 18-48 Financing. The Documents do not form part of this Merx Notice. Those respondents requesting the Documents will be required to complete a Non Disclosure Agreement prior to receiving the RFP Documents. Documents will be emailed directly to those respondnets on completion of the Non Disclosure Agreement .
SJCG Contract:
Brian Cassidy | Contract Procurement Coordinator
St. Joseph’s Care Group Purchasing Department
35 Algoma Street N., | Thunder Bay, ON P7B 5G7
T: (807)346-2343 C: 807-252 -8920 | E: cassidbr@tbh.net
Invitation to Respondents
This Request for Proposals ("RFP") is an invitation to Respondents to submit proposals for the financing of the following capital project at the St. Josephs Care Group:
1. The Home for Good Project to be implemented in partnership with St. Joseph’s Foundation of Thunder Bay.
1.2 Type of Contract for Deliverables
The Selected Respondent will be requested to enter into negotiations with SJCG for the provision of the Deliverables in the Form of Agreement attached as Appendix A to the RFP. It is SJCG’s intention to enter into the Form of Agreement based on that attached as Appendix A to the RFP with only one (1) legal entity. The term of the agreement shall finalized as part of any negotiations with the Selected Respondent. It is anticipated that the agreement will be executed on or about October 2018.
Financing Specific Background
The financing to be procured through this RFP process is specific to the follow the following capital project:
SJCG will provide cash flow support for the Home For Good Project to be implemented in partnership with SJF. SJF will purchase the property known as the Thunder Bay Inn having a municipal address of Hwy 102 - 1460 Dawson Rd Thunder Bay On. Construction renovations to Thunder Bay Inn will be completed to make the facility ready for the intended program use. The Home for Good program will provide transitional housing and addiction and mental health counselling for individuals who are homeless or require temporary housing while receiving counselling and transition services. The intent is for the clients who access to the program to transition to the community within a short period ranging from one to six months depending on client needs and circumstances. The anticipated construction renovations are minor in nature and will take place once the purchase transaction is completed.
SJCG will execute a mortgage with SJF for up to $2,000,000 (two million dollars) based on the final project costs and this will be amortized over a 20 year period. SJF has entered into an agreement with the Ministry of Housing to provide capital funding of up to $105,000 per year to support the project.
It is anticipated that the financing provided to SJCG by the Respondent will be unsecured and not connected to the project however the Respondent should outline security requirements as part of their RFP response.
2.1.3 Financing Requirements
The Selected Respondent shall provide SJCG with expert debt financing services, in a diligent, professional and competent manner, by persons qualified and skilled in their disciplines / occupations. Furthermore all Deliverables will be provided in accordance with: (a) the Contract; (b) Industry Standards; and (c) Requirements of Law. If any of the Deliverables, in the opinion of SJCG, are inadequately provided or require corrections, the Selected Respondent shall forthwith make the necessary corrections at its own expense.
The financing of the capital project provided by the Selected Respondent shall be:
- Cost effective
- Meet SJCG’s capital project cash flow needs.
- Minimize SJCG’s risks associated with changing interest rate environment over the long term.
- Provide flexibility should SJCG’s operations or cash flow position change.
The required financing of the capital project may be provided in the following forms:
Type of Financing
A mortgage, term loan, interest rate swap or other recognized acceptable financial instrument.
The value of the required financing of capital project is as follows:
Amount of Financing Required
Up to a limit of Two Million dollars ($2,000,000) Canadian Funds (CDN)
Additional Financing Requirements
SJCG anticipates a requirement for additional debt financing services for various infrastructure and program specific projects. These projects may include but are not limited to the financing of SJCG’s future renovations, capital purchases and equipment replacements. SJCG reserves the right, in its sole and absolute discretion to enter into negotiations with the Selected Respondent to provide additional financing services as may be required to satisfy its financing requirements of these additional projects.
The Term of the financing of the capital projects is as follows:
Term of Financing
The Term of the financing shall be 20 years.
Security Requirements and Other Terms
The Respondent should outline their security requirements and other terms in their response to the RFP document.
