Commerce Department awards $1.97M contract for bankable infrastructure technical assistance to Banyan Global Inc
Contract Overview
Contract Amount: $1,974,410 ($2.0M)
Contractor: Banyan Global Inc.
Awarding Agency: Department of Commerce
Start Date: 2024-09-23
End Date: 2027-03-31
Contract Duration: 919 days
Daily Burn Rate: $2.1K/day
Competition Type: COMPETED UNDER SAP
Number of Offers Received: 3
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: TECHNICAL ASSISTANCE FOR BANKABLE INFRASTRUCTURE
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20230
Plain-Language Summary
Department of Commerce obligated $2.0 million to BANYAN GLOBAL INC. for work described as: TECHNICAL ASSISTANCE FOR BANKABLE INFRASTRUCTURE Key points: 1. Contract aims to facilitate private investment in infrastructure projects. 2. Focus on technical assistance suggests a need for specialized expertise. 3. Firm Fixed Price contract type provides cost certainty for the government. 4. Contract duration of over two years indicates a sustained need for support. 5. Awarded under SAP suggests a streamlined procurement process for a moderate value contract. 6. Geographic focus on Washington D.C. may indicate a pilot or specific regional initiative.
Value Assessment
Rating: good
The contract value of $1.97 million for technical assistance in infrastructure financing appears reasonable given the specialized nature of the work. Benchmarking against similar contracts for expert advisory services in public-private partnerships or infrastructure development would provide a more precise value assessment. The firm fixed-price structure helps manage cost risks for the government, assuming the scope of work is well-defined.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was competed under the Simplified Acquisition Procedures (SAP), indicating a competitive process suitable for acquisitions under the federal micro-purchase threshold. With three bidders, there was a degree of competition, which generally supports fair pricing. However, the specific details of the competition, such as the number of proposals received and the evaluation criteria, are not fully detailed here.
Taxpayer Impact: Competition under SAP, while efficient, may not always yield the lowest possible price compared to full and open competition for larger contracts. However, three bidders suggest a reasonable market interest and potential for competitive pricing for taxpayers.
Public Impact
The primary beneficiaries are likely government agencies seeking to develop bankable infrastructure projects. The services delivered will involve technical expertise to structure and finance infrastructure initiatives. The geographic impact is noted as Washington D.C., suggesting a focus on federal or district-level projects. Workforce implications may include the engagement of specialized consultants and financial experts.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Potential for scope creep if 'bankable infrastructure' is broadly defined.
- Reliance on a single contractor for critical technical expertise could pose a risk if performance falters.
Positive Signals
- Firm Fixed Price contract provides budget predictability.
- Defined contract period (over two years) allows for sustained support and relationship building.
- Competition, even under SAP, suggests multiple firms were interested in providing these services.
Sector Analysis
This contract falls within the Engineering Services sector, specifically related to financial and advisory services for infrastructure development. The market for such services is driven by government initiatives to stimulate investment in public works and private sector participation. Comparable spending benchmarks would involve looking at other technical assistance contracts for large-scale project financing or public-private partnership development.
Small Business Impact
The provided data does not indicate if this contract included small business set-asides or subcontracting requirements. Given the specialized nature of technical assistance for bankable infrastructure, it's possible that larger, specialized firms were the primary focus of the competition. Further analysis would be needed to determine any impact on the small business ecosystem.
Oversight & Accountability
Oversight for this contract would typically reside within the Department of Commerce's Office of the Secretary, which awarded the contract. Accountability measures would be tied to the performance metrics outlined in the contract's statement of work. Transparency is facilitated through contract award databases, though detailed performance reports may not always be publicly available.
Related Government Programs
- Infrastructure Investment and Jobs Act (IIJA) programs
- Public-Private Partnership initiatives
- Economic Development Administration grants and technical assistance
Risk Flags
- Potential for undefined scope leading to cost overruns or delays.
- Contractor performance risk if specialized expertise is not adequately delivered.
- Market competition may not be fully optimized under SAP for this contract value.
Tags
engineering-services, department-of-commerce, technical-assistance, infrastructure-finance, firm-fixed-price, competed-under-sap, definitive-contract, washington-dc, banyan-global-inc, simplified-acquisition-procedures
Frequently Asked Questions
What is this federal contract paying for?
Department of Commerce awarded $2.0 million to BANYAN GLOBAL INC.. TECHNICAL ASSISTANCE FOR BANKABLE INFRASTRUCTURE
Who is the contractor on this award?
The obligated recipient is BANYAN GLOBAL INC..
Which agency awarded this contract?
Awarding agency: Department of Commerce (Office of the Secretary).
What is the total obligated amount?
The obligated amount is $2.0 million.
What is the period of performance?
Start: 2024-09-23. End: 2027-03-31.
What specific types of infrastructure projects is this technical assistance intended to support?
The contract's objective is to provide 'technical assistance for bankable infrastructure.' This generally refers to projects that are structured in a way that makes them attractive to private investors, meaning they have a clear revenue stream or economic benefit that can support debt financing. Examples could include transportation projects (roads, bridges, transit), energy infrastructure (renewable energy facilities, grid modernization), water and wastewater systems, and digital infrastructure (broadband). The specific focus would be detailed in the contract's statement of work, outlining the types of feasibility studies, financial modeling, risk assessments, and transaction structuring support required to make these projects 'bankable'.
How does the $1.97 million value compare to similar technical assistance contracts for infrastructure financing?
Without access to a comprehensive database of similar contracts, a direct comparison is challenging. However, $1.97 million for a contract spanning over two years (919 days) suggests a moderate investment in specialized expertise. Contracts for large-scale infrastructure advisory services, particularly those involving complex public-private partnerships or innovative financing mechanisms, can range from hundreds of thousands to several million dollars. The value appears reasonable for a firm fixed-price contract aimed at providing sustained technical support, assuming the scope is well-defined and covers critical aspects of project development and financing.
What are the key performance indicators (KPIs) for this contract?
The provided data does not specify the key performance indicators (KPIs) for this contract. Typically, for technical assistance contracts related to infrastructure financing, KPIs would focus on the successful completion of milestones such as feasibility studies, financial models, risk mitigation plans, and transaction structuring documents. Other potential KPIs could include the number of projects advanced to a 'bankable' stage, the amount of private capital leveraged as a result of the assistance, or adherence to project timelines and budget. The contracting officer's representative (COR) would monitor these KPIs to ensure the contractor is meeting the objectives.
What is the track record of Banyan Global Inc. in providing similar technical assistance?
Information on Banyan Global Inc.'s specific track record for this type of technical assistance is not detailed in the provided data. A thorough assessment would require reviewing their past performance on similar government contracts or private sector projects. Key areas to investigate would include their experience in infrastructure finance, public-private partnerships, project structuring, and their success in helping clients secure financing. Past performance evaluations, if available through federal procurement databases, would offer insights into their reliability, expertise, and ability to deliver results.
What is the potential risk associated with the 'full-and-open' competition under SAP for this contract?
While 'full-and-open' competition under Simplified Acquisition Procedures (SAP) aims for broad market access, the primary risk for a contract of this value ($1.97M) is that SAP might not attract the most competitive bids compared to larger, full-and-open solicitations. SAP is designed for efficiency and speed, which can sometimes limit the time for proposal development and submission, potentially excluding highly qualified but resource-constrained firms. However, with three bidders noted, some level of competition was achieved. The risk is mitigated by the firm fixed-price nature of the contract, which caps the government's financial exposure.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Architectural, Engineering, and Related Services › Engineering Services
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › PROFESSIONAL SERVICES
Competition & Pricing
Extent Competed: COMPETED UNDER SAP
Solicitation Procedures: SIMPLIFIED ACQUISITION
Solicitation ID: 1331L524Q13040015
Offers Received: 3
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 1120 20TH ST NW, WASHINGTON, DC, 20036
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Small Business, Special Designations, Subchapter S Corporation, U.S.-Owned Business, Woman Owned Business, Women Owned Small Business
Financial Breakdown
Contract Ceiling: $4,892,833
Exercised Options: $1,974,410
Current Obligation: $1,974,410
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Cost or Pricing Data: NO
Timeline
Start Date: 2024-09-23
Current End Date: 2027-03-31
Potential End Date: 2029-03-31 00:00:00
Last Modified: 2026-03-30
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