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City of Allentown Bid Process Summary

City of Allentown Bid Process Summary. April 2013. Bid Schedule. Request for Bids (“RFB”) posted: February 27 Letter of Credit or Escrow Agreement due: March 28 Bids due: March 29 Best and Final Offer (“BAFO”) due: April 2 Council Introduction: April 3

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City of Allentown Bid Process Summary

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  1. City of AllentownBid Process Summary April 2013

  2. Bid Schedule Request for Bids (“RFB”) posted: February 27 Letter of Credit or Escrow Agreement due: March 28 Bids due: March 29 Best and Final Offer (“BAFO”) due: April 2 Council Introduction: April 3 Council Public Meeting April 17 Council Public Meeting April 22 Council Vote: April 25

  3. Bidder Responses • RFB Submissions: • Four bidders submitted proposals on March 29th • Three conforming bids received • American Water - $192.5mm upfront and $750,000 Annual City Payment • LCA - $205mm upfront and $500,000 Annual City Payment • United Water - $150mm upfront and $500,000 Annual City Payment • Two non-conforming bids received • BAFO process triggered • Highest bid plus any other bids within 10% of highest bid • BAFO Submissions: • Two bidders involved • Only change permitted is amount of upfront payment

  4. Results of Bidding Process • Lehigh County Authority submitted the highest bid • Summary of their proposal: • Upfront Payment: $220,000,000 • Annual City Payment*: $ 500,000 • *Annual City Payment grows by inflation; however, for bid comparison purposes a 6% present value factor was used and a 0% inflation factor.

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