Notice Details

New York City Economic Development Corporation (“NYCEDC”) is releasing a Request for Expressions of Interest (“RFEI”) to engage public resources and collaborate in promoting the development of an equitable cannabis industry in New York City (“NYC” or the “City”). NYCEDC is exploring assistance to entrepreneurs seeking to access the financing and real estate required to start and grow their businesses, with a focus on individuals and communities most impacted by the “war on drugs."

Through this RFEI, NYCEDC aims to:

1. Gauge the interest of potential partners and field ideas related to structuring and implementing a loan fund that provides flexible and affordable financing to Social and Economic Equity Applicants (“Social Equity Applicants” or “SEAs”) seeking to enter the cannabis industry in NYC.
2. Gather information regarding other proposed capital access and/or real estate interventions that would support the development of an equitable cannabis industry. Respondents (“Respondents”, each a “Respondent”) to this portion of this RFEI may provide information on existing or anticipated gaps in the to-be-formed NYC cannabis market, specifically as it relates to financing and real estate needs, and propose partnership models to address those needs. Potential focus areas for submissions may include but are not limited to:

• Alternative financial access models
• Equitable wealth generation and distribution models
• Innovative resource sharing models (e.g., incubators, apprenticeship, and matchmaking models)
• Protections for SEAs against predatory behavior
• Real estate

NYCEDC anticipates releasing one or more subsequent Requests for Proposals (“RFPs”) incorporating information gathered through this RFEI. This is not a competitive procurement, but rather an information inquiry. Responding to this RFEI is not a condition for future consideration as a potential RFP respondent.

The transition to a formal, regulated market represents a unique opportunity to place equity at the center of the cannabis industry. Recognizing this, we are committed to incorporating the perspectives, ideas, and interests of public, private, nonprofit, or other entities early in the development of our initiatives. We strongly encourage interested parties to respond to this RFEI, in order to assist NYCEDC in ascertaining market interest prior to a RFP and informing our broader cannabis industry support strategies, particularly with respect to SEAs.

It is the policy of NYCEDC to comply with all federal, state and City laws and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, age, disability, marital status and other protected category and to take affirmative action in working with contracting parties to ensure certified Minority and Women-owned Business Enterprises (“M/WBEs”) share in the economic opportunities generated by NYCEDC’s projects and initiatives.

Companies who have been certified with the New York City Department of Small Business Services as M/WBEs are strongly encouraged to respond. To learn more about M/WBE certification and NYCEDC’s M/WBE program, please visit http://edc.nyc/opportunity-mwdbe.

Detailed submission guidelines and requirements are outlined in the RFEI, available as of Wednesday, May 11, 2022. To download a copy of the solicitation documents please visit https://edc.nyc/rfps.  Please click the link in the “Deadlines” section of this project’s web page (which can be found on https://edc.nyc/rfps) to electronically upload a submission.