The Lancaster Housing Authority (“LHA”) is a public body corporate and politic, formed pursuant to the California Housing Authorities Law (Cal. Health & Safety Code §§34200 et seq.), dedicated to the community’s effort to revitalize neighborhoods and foster economic development, as well as to provide quality, affordable housing. LHA is releasing this Request for Proposals (“RFP”) to solicit proposals from qualified real estate developers (“Proposers”) to select one or more developer(s) from among Proposers to enter into a Disposition and Development Agreement (“DDA”) for purposes of residential development in accordance with both California Redevelopment Law (“CRL”) and the California Surplus Land Act (“SLA”). It is intended that the selected developer(s) will enter into a DDA for one or more of three (3) vacant Housing & Neighborhood Revitalization (“HNR”) sites owned by LHA being released in this RFP and generally characterized as ‘in-fill’ sites located in the northeastern areas of the City. By entering into a DDA for one or more of the three HNR sites, the LHA authorizes the developer to acquire, design, construct, and operate an affordable multifamily residential development at the above stated site. Proposals submitted in response to this RFP must be complete and contain all of the submittal requirements described below. Failure to provide the required information may result in the submittal to this RFP being deemed unresponsive. Submittal requirements that must be included in the Proposal are as follows: A. Concept Plan: For each HNR which the Proposer wishes to pursue, conceptual site plan that illustrates building layouts, circulation, parking, open space, and other Project amenities. Proposers may provide additional drawings such as artist perspectives that convey architectural creativity, quality and overall Project character. All design plans and graphics must be formatted electronically on paper sizes not to exceed 11x17 (tabloid) to enable the LHA to distribute copies via email. B. Development Narrative: Provide a written development narrative providing the following information for each HNR site for which a proposal is being submitted: • Explanation of how the proposed project meets the Development Objectives and Goals stated in this RFP; • Description of the resident target and operations focus, including distribution of household AMI served; • Summary of the proposed development program, including product types (ownership and/or rental), unit mix (i.e., bedroom, bathroom, unit square footage, unit private open space), types of uses, and overall project total unit count and square footages (gross and net), and parking arrangement and space counts. • Concept plans, including site layout, building/unit configuration, common areas, and site amenities. C. Entitlements & Permits: Discuss the anticipated entitlement and permit process, including specific concessions, variances and relief from standards to be requested of the City. D. Operations Management Plan: Describe the proposed operations strategy and management approach for proposed rental projects, identifying on-site services to be provided, if any. Provide an organizational chart of corporate structure, development team, operations team, and any key partners. E. Land Acquisition Approach : Provide a summary of proposed land acquisition terms for each HNR site for which a proposal is being submitted. F. Project Development Costs: A breakdown of construction and development costs for each proposed project, including hard and soft costs. G. Prevailing Wage Approach : Indicate whether your proposal proposes to use prevailing wages, and the explanation for your interpretation of prevailing wage compliance. H. Financing Plan Approach: Explain the proposed financing plan or approach for each HNR site for which a proposal is being submitted, including how the proposed project will be funded and specifying the proportion of equity that is cash and the proportion of the funding that will be debt. Discuss each funding source and clearly identify expected City funding or other requested City assistance. Discuss the corporate structure (i.e., non-profit, for-profit, key partners) in relation to the proposed financing. I. Completion Guarantees : Describe guarantees and bonding arrangements to ensure timely completion of the proposed project. J. Project Development Pro Forma : For each HNR site for which a proposal is being submitted, provide an estimate of the development costs, sources and uses, and a project operating pro forma that is appropriate for the type of product proposed (i.e., rental housing or ownership housing). The pro forma should be formatted pursuant to real estate industry standards. The pro forma must include the following items: i. For all proposals/uses: • Development & Land Use Program Summary Table (i.e., acreage, FAR, residential density, number of units, square footages by type use, parking, open space, etc.); • Development costs including all land acquisition, finance, soft costs & hard costs (i.e., planning, architectural and engineering improvement design, permitting, land development and vertical construction, general conditions, overhead, etc.); and • Sources & Uses, including identification of all anticipated investor and housing program funding sources. ii. For rental housing projects proposals: • Revenues setting forth each source of operating revenues concluding in a total revenue line; • Expenses concluding in a net income available for debt service of the first lien mortgage as well as any subordinate payments requirements such as residual receipts, annual monitoring fees, etc., and other non-operating expenditures; • Reserves, including replacement reserves, re-tenanting reserves, infrastructure replacement, etc.; • First Lien Mortgage Debt Service (principal and interest); and • Net Cash Flow. iii. For homeownership projects proposals: • Actual Sales Price per AMI; • Homebuyer Assistance Funds; and • Final Developer Fee. K. Project Schedule: For each HNR site for which a proposal is being submitted, a project timeline setting forth anticipated dates to complete the proposed project including, at minimum, the following milestones: • Completion of required studies & plans; • Completion of entitlement approvals; • Commencement of construction; • Completion of construction; • End of first year of stabilized operation (rental projects) or first unit sale (ownership projects). L. Identification of Project Management Team: Include complete resumes of project manager and key project team members.
