AgdaPkt 2015-05-18 Closed and Joint SA and PFA

Browse Search

9.C. - Page 5 • Offsite Improvements- proposed extent and scope of offsite public improvements would be identified, as should the proposed method for funding them. Any offsite improvements that would not be undertaken as part of the Proposal would also be identified and justified. Proposers must include a cost estimate for the construction of Site, and all appurtenant curb, gutter, sidewalk, street lights, and street trees, required either by the DTPP, CEQA, NEPA or municipal code. • Financial Capacity- proposers would submit a pro forma analysis, identifying anticipated construction costs, operating income, operating expenditures, capitalization rates, and other relevant information. The pro forma information would remain confidential. • Property Management Experience- an overview of residential projects that the prosper currently manages, including project location, number of units, number of affordable units, number of years under company's management, name and address of the property owner and current vacancy rates. • Estimated Project Schedule- Proposers would provide a detailed project development schedule through completion that contains time and performance benchmarks. This would include all predevelopment activities, and any plans for phased development. Evaluation Criteria As described in the Draft RFP, the selection process would emphasize an understanding of Redwood City's Downtown Precise Plan and goals for the project, the directly relevant qualifications, and financial capacity of the respondent, and the financial terms that would be proposed. Evaluation criteria would include the following: • The development concept for the Bradford Site that meets the City's Goals and Objectives including the value of each that are achieved by the development; • A demonstration of creative approaches to mixed-use development, which include affordable housing; • Experience of the developer and the developer's team in the successful construction of mixed-use infill-type projects that include affordable housing; • Economic feasibility of the project, demonstrated ability to finance similar development projects and financial capability of the developer; • Understanding of the regulatory approval process, as reflected in the developer's advisors and consultant team, business terms and conceptual development schedule; • Demonstrated successful community outreach experience; • Developer's acceptance of RFP terms, completeness of submissions and compliance with the submission requirements of the RFP; • Establishment of clear lines of responsibility within the development team upon which the City can rely during negotiations and development of the Project;