New York State Releases RFI to Identify Pay For Success Projects
New York State recently released a Request for Information (RFI) to identify opportunities to pilot innovative new financing models such as Pay For Success and Social Impact Bond type projects in the state. In particular, New York is interested in exploring new partnerships and financing models for the delivery of social services where:
- State payments for services are directly linked to service providers’ achievement of specific performance measures.
- The outcomes are measured rigorously by an independent validator, and impact is assessed based on comparison to an estimate of the "counterfactual" outcomes that would have occurred in the absence of the services being delivered.
- At least several hundred people are served each year and there is an identifiable path to expanding a successful initiative to a larger population.
The State is interested in suggestions in any social service area, but is particularly interested in those that will help achieve some of the priorities the governor has set for his first term: reducing crime, education for children, youth, and young adults, work force development, healthcare and place based strategies.
For more info please see the attached PDF.