University of Iowa issued the following announcement on Jan. 23
University of Iowa utilities system employees have actively engaged with ENGIE representatives regarding employment opportunities and benefits of the new partnership.
Iowa is one of the first universities in the country to enter into a 50-year public-private partnership (P3) involving its utility system. The partnership with ENGIE North America and Meridiam will allow the university to invest $15 million per fiscal year via grants dedicated to supporting the UI’s strategic plan and core missions of teaching, research, and scholarship.
ENGIE will perform all utility operations with respect to steam, cooling, water, and electricity. All utility system employees are being offered a position with ENGIE without a formal interview process. Employees who choose not to join ENGIE will retain a university position.
As the final ENGIE benefits and offer package is being assembled, ENGIE hosted four benefit fairs on Jan. 14-15 for utilities employees and their partners. Attendees had an opportunity to become more familiar with ENGIE and its benefits, and talk with human resources representatives. ENGIE also held one-on-one meetings with all full-time utilities employees affected by the transition. Team members had a chance to share input and ask questions about anything important to them as they consider employment options.
This week, representatives from University HR and Facilities Management are providing an overview of the job placement process if any utilities employees choose to remain with the university.
“We are committed to respecting and supporting all our employees,” says Cheryl Reardon, UI chief human resources officer and associate vice president. “We appreciate everyone’s feedback and ENGIE working with us and utilities employees while going through this transition.”
An exact day has not been set for financial close, which finalizes the P3 agreement. However, it will be no later than 90 days from the Dec. 10, 2019, signing of the concessionaire agreement.
The university will continue to provide updates to the campus community as the process progresses. For more information about the P3 and Iowa’s commitment to employees, see this FAQ.
Original source can be found here.