Request for Qualifications- Financial and Analytical Services for Wilbur-Cook Portfolio

Transcription

1 Spokane Housing Authority Request for Qualifications- Financial and Analytical Services for Wilbur-Cook Portfolio Financial Analytical and Advisory Services Relevant to Real Estate Development Activities RFQ ISSUED ON: 10/17/2016 PROPOSALS DUE: 10/28/16

2 Spokane Housing Authority Request for Qualifications Financial Analytical and Advisory Services Relevant to Development Activities Table of Contents Section Page Financial Analytical and Advisory Services Relevant to Real Estate Development Activities... 0 A. INTRODUCTION... 2 B. SCOPE OF WORK... 2 C. INFORMATION TO BE PROVIDED IN YOUR RESPONSE... 3 D. CONSULTANT EVALUATION CRITERIA... 4 E. SUBMISSION REQUIREMENTS... 5 F. SELECTION PROCESS... 6 G. CONTRACT NEGOTIATIONS... 7 H. INSURANCE REQUIREMENTS /13/2016 Page 1 of 9

3 A. INTRODUCTION The Spokane Housing Authority (SHA) is seeking qualified responses from professional consulting firms to provide financial advisory and support services associated with the development and preservation of low income and affordable housing in the Spokane area. The Spokane Housing Authority was created in 1972 as a public body corporate and politic to provide safe, decent, and sanitary housing for low and moderate income residents of the City of Spokane. The Authority derives its power from the Washington State Law, RCW SHA is governed by a six member Board of Commissioners; two appointed by the Mayor of the City of Spokane, two appointed by the City of Spokane Valley Council, one appointed by Spokane County Commissioners and one jointly appointed Resident Commissioner. The Board sets policy of the Authority and hires the Executive Director who directs the daily operations of the Authority. SHA provides housing assistance through a variety of programs, including HUD s Housing Choice Voucher and Low Income Public Housing programs, affordable housing properties, senior affordable housing properties, and tax credit properties. The Authority is actively engaged in repositioning its inventory, acquiring additional properties, and considering investments to meet the affordable housing needs in Spokane and Spokane County. These efforts include: Recent conversion of one 50-unit public housing property to project-based voucher assistance under HUD s Rental Assistance Demonstration (RAD) program utilizing tax credits and bonds to finance the renovations. Pursuing RAD conversion via Transfer of Assistance for the remaining 74 units of scattered-site public housing through HUD s RAD program. Near completion of rehabilitation of 146 units across two properties under one ownership structure utilizing 4% tax credits and bonds. Over the next several years SHA intends to develop and/or acquire additional units through a variety of financing methods including tax credits, bond financing, and conventional loans. The scope of work required of the consultant will include assistance with some or all of these efforts. B. SCOPE OF WORK Reporting to the Executive Director or designee, the consulting firm will provide analytical and advisory services that will support the senior staff including the Chief Finance Officer and the Housing Development Director in making development decisions. In addition the consulting firm will assist the senior staff with completing development tasks as needed. The following initiatives and related tasks are illustrative of, but not limited to the types of work the selected consultant firm may be asked to perform: 1. Acquisition of new properties and re-syndication of currently owned properties: o Assist in identifying new properties for acquisition. o Evaluate currently owned properties for opportunities to re-syndicate or redevelop. 10/13/2016 Page 2 of 9

4 o Based on the feasibility analyses and SHA criteria, evaluate and recommend debt options, including, but not limited to, public funding, private debt, loans, bonds, etc. o Evaluate and recommend equity options, including various tax credit programs, for example, 4% and/or 9% Low Income Housing Tax Credits, New Markets Tax Credits, Historical/Renovation Tax Credits. o Create comprehensive development budgets, operating pro-formas, and other reports and analyses for SHA s and potential lender, investors, and other funders consideration. o Conduct competitive procurement processes for other consultants as well as investors and lenders. o Identify other members of the development team. o Analyze financial markets and economic conditions to recommend timing of real estate investments and transactions. o Develop proposals and recommendations for and applications for a range of bridge/construction financing and permanent financing. o Develop tax credit applications. 2. Professional financial and development consulting: o Analyze SHA s current tax credit projects and develop exit strategy plans. o Provide information to senior staff and Board of Commissioners as needed. o Provide information on current developments that affect affordable housing and recommendations pertinent to SHA. o Assist senior staff as necessary in evaluating processes related to conversions, tax credit projects, and acquisition activities, for example, creating and monitoring lease up schedules. o Provide ongoing consultation and support as needed in relation to SHA s development initiatives.. When services are required, the selected consultant shall prepare and negotiate with SHA a specifically defined scope of work, the required outcome or deliverables, specifically assigned personnel, a schedule and a not-to-exceed fee proposal based on hourly rates contained in their response to this RFQ. Presuming satisfactory work on any assigned tasks and continuation of any key personnel, SHA expects the contract with the selected consultant would be renewed annually for up to five years. There is, however, no guarantee of the level of effort that may be requested, or guarantee of any dollar amount for the contract in any one year or over its course. C. INFORMATION TO BE PROVIDED IN YOUR RESPONSE Proposals should be limited to a total of 15 pages in no smaller than 12 point font (cover letter, resumes and other required attachments are not included in the page limitation). Proposers are responsible for checking SHA s website at prior to submission of a proposal to review and download any addenda issued. 10/13/2016 Page 3 of 9

5 Response / Proposal Content: To facilitate evaluation, proposals should address and be organized in the order of the outline given below and include the following information: Include a cover letter stating why you believe your firm or your firm plus sub-consultants is uniquely qualified to perform the breadth of potential services. A principal or officer of the firm authorized to execute contracts or other similar documents on the firm s behalf must sign the letter. Address each of the evaluation criteria noted below. TAB 1: ACQUISITION OF NEW PROPERTIES AND RE-SYNDICATION OF CURRENTLY OWNED PROPERTIES: Relate your firm s and any sub-consultants experience with similar projects including your experience with Low Income Housing Tax Credit (LIHTC) program. Describe various financial packages that your firm has developed which use LIHTC s in conjunction with other financing to acquire or preserve affordable housing. Please list specific projects that your firm served as the consultant on, highlighting both the financial and development results of those projects. TAB 2: PROFESSIONAL FINANCIAL AND DEVELOPMENT CONSULTING: Relate your firm s and any sub-consultants experience with financial and development consulting including the analysis of Low Income Housing Tax Credit (LIHTC) partnerships that are approaching their 15th year and projecting their ending financial position at the 15th year to recommend actions to mitigate or minimize financial liability to general and managing partnerships. Describe your experience providing ongoing support to agencies that have used your services and your experience reporting information to Boards, and/or agency executive staff. Please include information on your firm s ability to stay current on affordable housing developments. TAB 3: PROVIDE RESUMES FOR THE KEY PERSONNEL NAMED IN YOUR RESPONSE TO EVALUATION CRITERIA. Also include a list of at least three references for which the firm or team members have performed similar work in the last five years (including agency or business name of client, contact person, address, telephone number and address if available.) TAB 4: RELATING TO CRITERION ABOVE: List the titles/classifications and all-inclusive hourly rates for each team member shown in your response to Criterion listed above, including any sub-consultant team members, if applicable. Also indicate any rate discount that you may offer to SHA for this work. D. CONSULTANT EVALUATION CRITERIA Consultants submittals will be evaluated based on the criteria listed in this section and further described in Section C above. In preparing the submittal to SHA, it is important for proposers to clearly demonstrate their expertise in the areas described in this document. Because multiple areas of expertise are required for successful performance, the consultant, either through in-house staff or sub-consultants, must demonstrate expertise or have available adequate numbers of experienced personnel in all of the areas described. Consultants are encouraged to identify and clearly label in their submittal how each criterion is being fully addressed. Evaluation of responses to this RFQ will be based only on the information provided in the submittal package, and if applicable, interviews, and reference responses. SHA reserves the right 10/13/2016 Page 4 of 9

6 to request additional information or documentation from the firm regarding its submittal documents, personnel, financial viability, or other items in order to complete the selection process. If a responding firm chooses to provide additional materials in their response beyond those requested, those materials should be identified as such and included in a separate section of the proposal. In submitting a proposal, the Consultant and any sub-consultants agree that hourly rates identified for each person on the team shall be applicable for the entirety of the year The following criteria will be utilized to evaluate the qualifications of each proposer. There is a total of 30 points available. Each tabbed section described in Section C will use the following scoring matrix: o o 1-does not meet expectations of the criteria o o 3-meets basic expectations of the criteria o o 5-exceeds the expectations of the criteria Evaluation Criteria: Qualifications (See Section C above for a complete description of this Criterion.) 1 Acquisition of new properties and re-syndication of currently owned properties 2 Professional financial and development consulting 3 Resumes for key personnel and list of at least three references 4 Proposed all-inclusive hourly rates Total Maximum Points for Qualifications and Proposed Price E. SUBMISSION REQUIREMENTS 1. Due Date for Questions: Technical questions regarding substantive matters related to this RFQ or requests for further information must be submitted in writing no later than 12:00 p.m. (noon) on Friday, October 21, 2016 to Gary Harper, Procurement Specialist, via at Addendum will be issued by the following Monday, October 24 at 4: 30 PM. 2. Due Date and Place for Submission of Proposals: Sealed Proposals (one original and three copies) must be received by the Spokane Housing Authority no later than 4:00 p.m. on Friday, October 28, 2017 at the address indicated below: 10/13/2016 Page 5 of 9

7 Spokane Housing Authority Attn: Gary Harper Procurement Specialist 55 W. Mission Ave Spokane, WA In addition, please one copy of your entire proposal to In the subject line, title with your firm s name, the attachment should also be titled the same. The deadline is firm as to place, date, and time. SHA will not consider any response received after the deadline and will return all such responses unopened. All Responses should be clearly marked when delivered or mailed to avoid any confusion about recording arrival dates and times. Proposers should take this practice into account and submit their materials early to avoid any risk of ineligibility caused by unanticipated delays or other delivery problems. Upon receipt of each Response, SHA will date-stamp it to show the exact time and date of receipt. Upon request, SHA will provide the proposer with an acknowledgment of receipt. All Responses received will become the property of the Spokane Housing Authority and will not be returned to the proposer. 1. Submittal Length Limits: Responses to the RFQ shall not exceed fifteen (15) single sided pages in length, plus resumes of no more than two pages each for each of the proposed members of the team. 2. Required Number of Copies: Proposers responding to this RFQ shall submit one original and three copies of their proposal to the address indicated above. 3. Addenda: In the event there are changes or clarifications to this RFQ, SHA will issue an addendum. Addenda will be published on SHA s website at It is the responsibility of proposers to check this website prior to submission of a response to review and download any addenda issued. If you are unable to download the addenda, you may call or Gary Harper at gary@spokanehousing.org or to have a copy of the addenda mailed or ed to you. 4. Rights Reserved by SHA: SHA reserves the right to waive as an informality any irregularities in submittals and/or to reject any or all Responses. SHA will generally not disclose the status of negotiations until SHA s Executive Director has approved the award of a contract for services. F. SELECTION PROCESS An evaluation panel will rate all responses to this RFQ that are received on or before the stated deadline, according to the criteria listed above. Based on its initial evaluation, the panel may: 1. Make a recommendation to SHA s Executive Director and request authority to negotiate a Contract with one or more proposers; or 2. Request additional information from the proposer whose responses appear to have the greatest likelihood of success; and/or 10/13/2016 Page 6 of 9

8 3. Invite one or more proposer whose responses appear to have the greatest likelihood of success to attend an interview/presentation to discuss their response; and then make a recommendation to SHA s Executive Director and request authority to negotiate a contract with one or more proposers. SHA reserves the right to conduct reference checks, at either or at both of the following two points of the evaluation process: 1. After responses are evaluated, for the proposer with the highest-scoring proposal; 2. In the event that interviews are held, for the proposer with the highest-scoring proposal and interview. In the event that information obtained from the reference checks reveals concerns about the proposer's past performance and their ability to successfully perform the contract to be executed based on this RFQ, SHA may, at its sole discretion, determine that the proposer is not a responsible proposer and may select the next highest-ranked proposer whose reference checks validate the ability of the proposer to successfully perform the contract to be executed based on this RFQ. In conducting reference checks, SHA may include itself as a reference if the proposer has performed work for SHA, even if the proposer did not identify SHA as a reference. By submitting its Response in response to this RFQ, the Consultant accepts the procurement method used and acknowledges and accepts that the evaluation process will require subjective judgments by SHA and the evaluation panel. Any protest of the selection process shall be resolved in accordance with SHA s Procurement Policies. G. CONTRACT NEGOTIATIONS SHA shall negotiate with the most qualified proposer, as determined by evaluation of the responses and, if applicable, interviews. If SHA is unable to reach agreement with the highest ranked firm, it may negotiate with the second highest ranked firm, proceeding in turn to each firm, in order of rank, until a contract is executed. Basic Eligibility: The successful proposer must be licensed to do business in the State of Washington and must have a state Unified Business Identifier (UBI) number. In addition, the successful proposer must not be debarred, suspended, or otherwise ineligible to contract with SHA, and must not be included on the General Services Administration s List of Parties Excluded From Federal Procurement and Non-procurement Programs or the Department of Housing and Urban Development s Limited Denial of Participation list. Approval of Sub-Consultants: SHA retains the right of final approval of any sub-consultant of the selected proposer who must inform all sub-consultants of this provision. Other Contracts: During the original term and all subsequent renewal terms of the contract resulting from this RFQ, SHA expressly reserves the right, through any other sources available, to 10/13/2016 Page 7 of 9

9 pursue and implement alternative means of soliciting and awarding similar or related services as described in this RFQ. H. INSURANCE REQUIREMENTS Insurance Endorsements: In order to comply with HUD's requirement that Housing Authorities not assume the liability of contractors or their subcontractors, and in the exercise of responsible risk management, Insurance Endorsements shall be required in order to protect the Housing Authority. Prior to the beginning of any work under this contract, an authorized representative of each successful bidder's insurers shall submit Insurance Endorsements naming the Spokane Housing Authority as Additional Insured on all but Errors and Omissions coverage. If the duties under this contract require Professional Liability Insurance, the Additional Insured requirement of these Special Conditions shall be waived. However, all other provisions herein shall remain in effect. Insurance offered to indemnify the Housing Authority shall be provided by insurers rated by the A M. Best Company with a rating of not less than B+ Vl. If the coverages offered are on a claims made form, the insurer shall provide an extended five year reporting period to the Additional Insured. All such insurance shall be primary, and not contributing with any other insurance or self-insurance maintained by the Housing Authority notwithstanding any inconsistent provisions in any such policies maintained by the Housing Authority and shall not require contribution by any insurance or selfinsurance maintained by the Housing Authority on any basis, pro rata, or otherwise. The policy to which the Additional Insured endorsement is attached shall apply separately to each insured against whom claim is made or suit is brought except with respect to the limits of the company's liability. The policy to which the Additional Insured endorsement-is attached shall not be subject to cancellation, change in coverage, reduction of limits or non-renewal except after written notice of not less than thirty (30) days given to the designated Housing Authority official by certified mail, return receipt requested prior to the effective date thereof. The Housing Authority has provided its Instructions to Bidders and standard insurance endorsements which contain other insurance clauses required under this contract. ISO Endorsements or others, will also be acceptable provided they contain the same clauses and protection contained in the endorsements provided with these Special Conditions. 1. A policy of commercial general liability, including Washington Stop-Gap, naming SHA as additional insured, protecting and holding SHA harmless from any and all damages which may arise in connection with the services to be provided hereunder, in at least the principal 10/13/2016 Page 8 of 9

10 amount of a single combined limit of One Million Dollars ($1,000,000) per occurrence, Two Million Dollars ($2,000,000) aggregate personal injury and/or property damage liability. Such insurance is subject to approval by SHA. 2. A policy of automobile liability insurance in the amount of One Million Dollars ($1,000,000) per accident for bodily injury and property damage. 3. If automobiles are used in connection with any activity performed under contract(s) resulting from this RFQ, a policy of commercial automobile liability, including coverage for owned, nonowned, leased or hired vehicles with a minimum coverage of Three Hundred Thousand Dollars ($300,000) per accident. 4. A policy of errors and omissions liability of not less than One Million Dollars ($1,000,000) per occurrence. 10/13/2016 Page 9 of 9