Transaction Advisory Committee (TAC)
The sector in March 2014 received a no objection from the Ministry of Finance, Planning and Economic Development to procure for the construction of the JLOS House under private public partnership (PPP) modality . As a result, the sector set up a multi-institutional Transaction Advisory Committee (TAC) comprised of representatives from the Ministry of Justice and Constitutional Affairs, the Ministry of Finance, Planning and Economic Development, the Privatization Unit (MOFPED), the Judiciary, Ministry of Works, the JLOS Constructions Committee,
The role of TAC is to advise on the preparation of the necessary documentation as well as the process of procurement of the private investor to undertake the financing and construction of the JLOS House Complex.
TAC is also responsible for advising on the PPP model to be adopted; advising the Solicitor General and the sector at large on the feasibility of the proposed PPP model of JLOS House project financing; advising on the preparation of the necessary documentation for the procurement of the investor (Request for Proposal (RFP) and/or Expression of Interest (EOI) documents, financial background documentation, credit worthiness, bid documentation, lease agreements, draft contracts and arrangements for building operation /rental agreements et cetera; Carry out a detailed project risk analysis and a mitigation plan and identify responsibility centers for mitigation; Carry out a feasibility study for the JLOS House project (PPP financing option analysis, options analysis, i.e. what other optional model of financing could be adopted, risk analysis, Value For Money/VFM analysis and economic impact); Carry out quality assurance of the project during the PPP procurement process; Advise the project implementation committee on execution of the project; Facilitate the marketing of the project to potential investors.
The TAC is also responsible for some phases of contract negotiation with the procured investor for the JLOS House Project.