CALL FOR PROJECT PROPOSALS
"FUND FOR SUSTAINABLE URBAN DEVELOPMENT OF SOFIA" (FSUDS) PLC has
launched a call for project proposals under JESSICA initiative (Joint European Support for
Sustainable Investment in City Areas) by providing long-term, low-interest loans for the
implementation of projects with significant social economic impact in promoting sustainable
development of Sofia. The overall financial resource of the Fund is BGN 49,2 mln., BGN 24, 6
mln. of which are provided by Operational Programme “Regional Development 2007-2013”
under the Holding Fund by JESSICA in Bulgaria, and the remaining BGN 24,6 mln. are
provided by FLAG in the form of co-financing.
Priority areas for urban projects funding:
 Provision of appropriate and cost-effective educational, social, health and cultural
infrastructure and improvement of its energy efficiency;
 Improvement of the physical environment and risk prevention by building of new or
restoring degraded or undercapitalized urban infrastructure, which may include all
eligible indicative activities under Priority axis 1, industrial zones, business, shopping
and entertainment centers, sport facilities;
 Sustainable urban transport systems through modernization and development of
infrastructure networks for public transport and communications and related
infrastructure, including systems for traffic management parking and other facilities
for the improvement of transportation systems;
 Organization and improvement of economic activities through development and
construction of new institutions of the business environment.
JESSICA initiative encourages the participation of a wide range of stakeholders to ensure
sustainable impact on social and economic environment and strong public support. Тhе
entities/persons that may apply for funding of an eligible urban project are:
This documented is created under JESSICA initiative, which is implemented with the financial support of Operational
Programme Regional Development 2007-2013, co financed by the European Union and the European Regional Development
Fund. The sole responsibility of this publication is credited to "Fund for Sustainable Urban Development of Sofia" PLC.
- Municipality of Sofia;
- Commercial companies (business entities) in which Municipality of Sofia owns over 50 per
cent of the capital;
- Other municipal public bodies of the Municipality of Sofia under the Public-Private
Partnership Act;
- Public-private companies established under the terms and stipulations of the Public-Private
Partnership Act or contractors involved in public-private partnership(s), where the
Municipality of Sofia or its municipal public bodies/organizations under the Public-Private
Partnership Act is a party;
- other legal entities, including private investors.
To be eligible for funding provided by the FSUDS, the urban project shall:
1. Correspond to the objectives and scope of eligible activities under Priority Axis 1
"Sustainable and Integrated Urban Development" of the Operational Programme "Regional
Development 2007-2013" and comply with the objectives and requirements set out in the
Investment Policy of FSUDS;
2. Comply with the Regulations for the Structural Funds, and any changes or updated
legislation in respect of those as well as with the State Aid rules according to the national and
European legislation;
3. Correspond to the objectives and scope of the Investment Strategy of JESSICA
Holding Fund for Bulgaria;
4. Not fall within the restrictions of the financial instrument JESSICA: for example,
the restrictions on investing in completed projects, project refinancing and other;
5. Its implementation takes place on the territory of the Municipality of Sofia within
the limits of all acting territorial plans until the end of 2013, and the Integrated Plan for
Urban Regeneration and Development of the City of Sofia, following its adoption;
6. Be in compliance with the Integrated Plan for Urban Regeneration and
Development of the City of Sofia, or with the special municipal plans (Municipal
Development Plan, General Spatial Plan and Detailed Spatial Plans);
7. Be structured in a way that generates revenues sufficient to repay the funds received
by the FSUDS. The investment parameters of projects financed by the FSUDS shall not allow
its implementation on purely commercial terms.
8. Be sustainable in terms of expected long-term effects, and in terms of financial rate
of return and ability to repay its obligations to the FSUDS (and other loan lenders);
9. Foster a positive social and economic change and development of the City of Sofia.
This documented is created under JESSICA initiative, which is implemented with the financial support of Operational
Programme Regional Development 2007-2013, co financed by the European Union and the European Regional Development
Fund. The sole responsibility of this publication is credited to "Fund for Sustainable Urban Development of Sofia" PLC.
Submission of an Application Form
The application form as per template, available on the internet site of FSUDS, shall be
submitted to the office of FSUDS.
The application form shall be accompanied by the following supporting documents:
1.
A resolution of the competent authority of the final recipient to use and secure the loan;
2. Documents evidencing the legal status of the final recipient. Аpplicants for funding
other than the Municipality of Sofia, shall also attach to the Application Form the following
documents:
 A certificate of current legal status;
 A copy of the Articles of Association, the Memorandum of Association or a
Company Agreement;
 A declaration of affiliation with other entities (as per form provided by the
FSUDS);
 An annual tax return, duly certified by tax authorities;
3. A declaration of lack of circumstances under Article11, paragraph (2) of the Investment
Policy of FSUDS;
4.
Copy of the annual financial statements of the final recipient for the last three years;
5. A certificate of outstanding public duties under the Tax & Insurance Procedure Code
(TIPC);
6.
Declaration of any current legal proceedings against the final recipient;
7.
References from servicing banks;
8. Minutes of discussion аt the Public Council of thе Municipality of Sofia confirming the
social importance of the project and an official letter from the Municipality of Sofia
confirming compliance of the project with the Integrated Plan for Urban Regeneration and
Development of the City of Sofia or part of the special municipal plans (Municipal
Development Plan, General Spatial Plan/Detailed Spatial Plan)
9.
Documents referring to the proposed securities;
10. Other documents required verifying the financial status of the final recipient and the
purpose of the funding applied for.
This documented is created under JESSICA initiative, which is implemented with the financial support of Operational
Programme Regional Development 2007-2013, co financed by the European Union and the European Regional Development
Fund. The sole responsibility of this publication is credited to "Fund for Sustainable Urban Development of Sofia" PLC.
Entities/Persons acting as parties to a contract for public-private partnerships (PPP), shall
provide a copy of the PPP and annexes to it and the documents on each person - party to the
contract.
Upon successful completion of the project eligibility assessment, FSUDS shall invite the final
recipient to submit a business plan of the project, as well as information about the loan
structure and the offered collateral.
Project proposals will be considered in order of submission until the depletion of the available
financial resources. The deadline for investing of the resources of FSUDS in eligible urban
projects is June 30th, 2015.
Templates of the application form and the appendixes to it are published on the
following Internet address: http://www.jessicasofia.com/
Further information on eligible projects and types of costs, criteria for selection of urban
projects and application cycle are incorporated in FSUDS Investment Policy, which can be
found here.
Additional information and answers to questions can receive at: office@jessicasofia.com
The application form, its appendixes and the supporting documents shall be submitted on
paper and in electronic format to:
Sofia, 1000, 27 “Solunska” str., floor 3
"Fund for Sustainable Urban Development of Sofia" PLC
office@jessicasofia.com
This documented is created under JESSICA initiative, which is implemented with the financial support of Operational
Programme Regional Development 2007-2013, co financed by the European Union and the European Regional Development
Fund. The sole responsibility of this publication is credited to "Fund for Sustainable Urban Development of Sofia" PLC.