New York Social Equity Cannabis Investment Fund

Agency: The New York State Contract Reporter
State: New York
Type of Government: State & Local
NAICS Category:
  • 541611 - Administrative Management and General Management Consulting Services
  • 541618 - Other Management Consulting Services
Posted Date: May 12, 2022
Due Date: Jun 8, 2022
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Issue Date: 05/12/2022 Contract Number: 7585
New York Social Equity Cannabis Investment Fund
Description:

New York Social Equity Cannabis Investment Fund, LP, a to-be-formed New York limited partnership (the “Partnership” or the “Fund”), is intended to be a social impact investment fund exclusively dedicated to financing the establishment, development, leasing, and initial build out of storefront conditional adult-use retail cannabis dispensaries (“Dispensaries”) in New York State for operation by social equity licensees (“Social Equity Licensees”) selected by New York State Office of Cannabis Management (“OCM”) and the Cannabis Control Board (“CCB”), as contemplated by Chapter 7-A of the Consolidated Laws (2021-2022 Regular Sessions) (the “NY Cannabis Law”). The business and affairs of the Partnership will be established and managed by its to-be-identified fund sponsor, general partner and fund manager (collectively, the “Fund Operators”) pursuant to the terms of an investment management agreement (the “IMA”) and the Limited Partnership Agreement (the “Limited Partnership Agreement”) entered into by and between the Partnership and the Dormitory Authority of the State of New York (“DASNY”) or a subsidiary thereof. Pursuant to Chapter 58 of the Laws of 2022 (Part II), DASNY has been authorized to coordinate the creation of the Fund in consultation with the OCM.

The Dormitory Authority State of New York (DASNY) is seeking proposals from Respondents to serve as fund sponsor, general partner, and fund manager (collectively, the Fund Operators). This procurement seeks Respondents that can either directly, or through affiliated entities, serve in all three capacities as fund sponsor, general partner, and fund manager to the Fund. The objective of this procurement is to select and contract with the most qualified Respondent capable of establishing and managing the business and affairs the to-be-formed Fund.

Services provided by the Fund Operators will be pursuant to the terms of an investment management agreement (the “IMA”) and the Limited Partnership Agreement (the “Limited Partnership Agreement”) entered into by and between the Partnership and the Dormitory Authority of the State of New York (“DASNY”) or a subsidiary thereof.

Firms interested in responding to this solicitation may access the RFP and related documents from DASNY’s website at https://www.dasny.org/opportunities/rfps-bids/professional-services/ .

To locate the RFP go to RFP 7585 / View the full details for this opportunity / Attachments. The deadline for responses to the RFP is 3:00 pm on June 8, 2022. Responses received after this date will not be accepted.

In accordance with State Finance Law § 139-j and § 139-k, this solicitation includes and imposes certain restrictions on communications between Dormitory Authority personnel and an Offeror during the procurement process. The designated staff for this procurement is Ame Breheny, Email: ( UpstateRFPCoordinator@dasny.org ). Contacts made to other Dormitory Authority personnel regarding this procurement may disqualify the Offeror and affect future procurements with governmental entities in the State of New York. Please refer to the Authority’s website (www.dasny.org) for Authority policy and procedures regarding this law, or the OGS website ( https://ogs.ny.gov/acpl ) for more information about this law. All proposers, domestic and foreign, must be in compliance with New York State business registration requirements. Contact the NYS Department of State regarding compliance.

Due Date: 06/08/2022 3:00 PM

Contract Term: Approximately 10 years

Location:

Ad Type: General

Primary Contact: Dormitory Authority of the State of New York
Procurement

Ame Breheny
Senior Procurement Administrator
515 Broadway
Albany, NY 12207-2964
United States
Ph: 518-888-4464
Fax:
UpstateRFPCoordinator@dasny.org
Secondary contact: Dormitory Authority of the State of New York
Procurement

Kara Mallard
Chief, Procurement
515 Broadway
Albany, NY 12207-2964
United States
Ph: 518-257-3796
Fax:
UpstateRFPCoordinator@dasny.org
Secondary contact: Dormitory Authority of the State of New York
Procurement

Ame Breheny
Senior Procurement Administrator
515 Broadway
Albany, NY 12207-2964
United States
Ph: 518-888-4464
Fax:
UpstateRFPCoordinator@dasny.org

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