Specifications include, but are not limited to: Respondent shall develop a proposal that incorporates a minimum of 15 affordable housing units with open space and parking, and utilizes financing strategies, including a project pro-forma that maximizes potential economic benefit to the City. Development scenarios and building heights for any development on the site shall be compatible and considerate of existing nearby development in the vicinity. Please refer to Exhibit 2 – Community Visioning Report for guidance on sight layout and density considerations. Project shall be compliant with all City codes and development standards. Development Team Experience and Capacity • Procure a Development Team that brings the resources, understanding, and experience to implement the proposed Project, which includes high-quality affordable housing across a range of incomes to transform a currently vacant site, while providing adequate open space and parking at a density that is appropriate for the surrounding neighborhood. • Procure a Development Team that has experience successfully executing similar projects and is capable of fulfilling the vision set forth in its development proposal in a timely manner. Financing and Affordability • Ensure that the Project is 100% affordable to households at or below 120% AMI (Moderate Income). Preference will be given to proposals that provide residential units across a range of affordable incomes. • Respondents should provide a cash flow analysis that demonstrates project feasibility for a term of 30 years and the project will be expected to remain affordable for a minimum of 55 years. • Respondents may submit an alternative financing proposal with all units at 120% AMI provided that a competitive ground lease payment or acquisition payment can be offered to the City. • All proposals should establish a sound financial capital and operating budget that addresses the various elements of the development program. Development Program and Community Development • Implement a development program that clearly addresses the Site and neighborhood context, as well as the priorities and needs outlined in Exhibit 2 – Community Visioning Report. • The Respondent should incorporate strong community outreach efforts to ensure impacted residents are heard. The Project should ensure privacy barriers are implemented to minimize adverse impact on adjacent property owners and surrounding neighborhood. • The Project should also provide a thoughtful and adequate parking strategy that prevents overflow parking to the surrounding community and identify any potential traffic issues, while optimizing the site’s access points. Design and Performance • Design and develop a high-quality affordable building that is financially feasible and consistent with the surrounding built environment and addresses community needs and priorities as outlined in Exhibit 2 – Community Visioning Report. • Incorporate an active publicly-accessible open space that interacts with the variety of uses on the Site; articulate buildings to relate and transition to surrounding context. • The Project should adhere to the City’s design guidelines and seek to implement environmentally conscious design principals where appropriate.