University of Iowa moving ahead with utilities-partnership inquiry
IOWA CITY — The University of Iowa is powering ahead with its exploration of a public-private partnership to operate its utility system after “a rigorous” initial call for potential partners — with plans to issue a more formal request for proposals later this summer.
UI administrators didn’t share a specific date they plan to publish the request of potential vendors who responded to the university’s initial call for qualifications. And the university declined to share how many vendors submitted qualifications, or the names of those vendors — although administrators previously said they’ve received plenty of interest and expected as many as 100 to 150 firms from across the region, nation, and world to respond.
“We are ready to take the next step in our exploration,” UI President Bruce Harreld said in a statement. “The potential partners in this next round have illustrated a commitment to our employees, ensuring the UI is coal free by 2025 and the additional responsibilities we outlined toward a sustainable future.”
Here’s how the partnership would work: an outside company would operate the university’s utility system for at least 50 years, ensuring for itself a predictable cash-flow stream via a “low-risk, stable” enterprise. UI, which would retain ownership of its utility system, would receive from the partner on the front end a hefty lump sum it could place in an endowment.
Read more: https://www.thegazette.com/subject/news/education/university-of-iowa-moving-ahead-with-utilities-partnership-inquiry-p3-bruce-harreld-20190711
(Cedar Rapids Gazette)