RFQ for Public-private Partnership Opportunity (Master Developer) issued

  • RFP for Public-private Partnership Opportunity (Master Developer) Issued
    • Goal: Develop a relationship with a private partner who will be an outstanding, long-term, strategic partner to advance University objectives across multiple asset classes and services, with an initial focus on student housing.

Evaluation committee review of RFP, interviews, work sessions, and selection of P3 Opportunity/Master Developer


University Budget Council offered recommendation that the University attempt to sell surplus energy as a revenue enhancement. As the University explored that recommendation it became clear that the University's energy center does not generate sufficient surplus energy and that the regulatory framework for such an action was excessively complex. However, that exploratory investigation led the University to identify a potential energy/utility partnership as an alternative revenue generating option. 

  • Gilbane (P3 Partner/Master Developer) solicited national leaders in this type of project, narrowed to three firms, conducted interviews, and invited EMU to participate in the interviews. Gilbane recommended a potential partner based on:
    • Higher education experience
    • Focus on academic collaboration
    • Cultural alignment of senior leadership
    • Sustainability and track record of innovative solutions to reducing energy consumption and emissions
    • Upfront financial consideration
  • Initial informal discussions of potential project with the Board of Regents
  • President Smith requested input from UBC on use of strategic fund for different initiatives
  • Negotiated LOI with CenTrio to provide more robust proposal and details
  • Began due diligence process
  • Continued due diligence process and negotiation of documents
  • Meetings with sustainability commission members, technical team members, academic collaboration, EMU senior leadership
  • Refinement and alignment of goals and objectives
  • Continued due diligence process and campus engagement
  • Financial modeling of overall transaction and strategic initiatives
  • April 20, 2023 Board of Regent meeting (planned)
  • Finalize concession agreement and appendices
  • Achieve commercial close

Achieve Financial Close