Specifications include, but are not limited to: 2.1 FEASIBILITY PHASE: The feasibility phase of Affordable Housing Development is about gathering the necessary information in order to assess whether or not a concept for an affordable housing development has the potential to be successful. 2.1.1 The consultant shall assess the need and demand for the type of project, as well as its affordability, sufficient to convince funders, lenders, community leaders, and the public that such a project is feasible. 2.1.2 In its affordability assessment, the consultant shall include an analysis of the project’s level of rents that would be charged. 2.1.3 The consultant shall collect data, including statistics, housing market trends, community profiles, and anecdotal information that would help determine whether or not a development should proceed and, if so, what design, market, and service conditions should be incorporated. 2.1.4 The consultant also shall assist the Authority in finding appropriate sites for projects. 2.2 PREDEVELOPMENT PHASE: 2.2.1 The consultant shall assist in identifying appropriate development projects. 2.2.2 The consultant shall ensure that adequate timelines are prepared for the development project(s). 2.2.3 The consultant shall assist in the creation of development partner selection criteria and methodologies. 2.2.4 The consultant shall assist in the creation of selection criteria for financial partners and methodologies. 2.2.5 The consultant shall assist in the preparation of Mixed-Finance application(s), as necessary. 2.2.6 The consultant shall assist, as necessary, in the solicitation and selection of developer(s). 2.2.7 The consultant shall assist, as necessary, in the solicitation and selection of financial partner(s). 2.2.8 The consultant shall assist in preparing acquisition or disposition applications for the Department of Housing and Urban Development (HUD). 2.2.9 The consultant shall assist with the identification of project financing options with specific expertise in the areas of Low-Income Housing Tax Credits (LIHTC), Rental Assistance Demonstration (RAD), HUD Section 18, Project Voucher Overlay, the Capital Fund Financing Program (CFFP), Community Block Development Grants (CDBG), HOME Investment Partnerships Program, Low-Income Housing Trust Fund (LIHTF) Affordable Housing Fund (AHP), including potential demonstration programs such as: Choice Neighborhoods Initiatives, Faircloth-to-RAD, Section 18/RAD Blend and other financing programs. 2.2.10 The consultant shall assist in the preparation of submittal of Mixed Finance Proposals to HUD for revitalization, as necessary. 2.2.11 The consultant shall recommend development methods that are most suitable for SNRHA, such as: 2.2.11.1 General Contract (group secures land, hires architect, seeks fixed construction bids; 2.2.11.2 Turnkey development (development company completes entire development package – design, approvals and construction – for a fixed price); 2.2.11.3 Design-build (similar to turnkey, but group has direct relationship with architect); and 2.2.11.4 The consultant shall develop Proforma financial statements and business plans for presentation to financial institutions. 2.3 CONSTRUCTION PHASE: 2.3.1 The selected Consultant will provide development advisory services and technical assistance to the Authority. The Consultant will assume, as necessary, primary responsibility for the management of all aspects of a development’s implementation. The exact nature of this role will be defined by the Executive Director of the Authority on a caseby-case basis. It is anticipated that the focus of work will change during the period covered by these services, and that these changes in turn will affect the resources needed for the function. The Consultant also is expected to work closely with Authority staff, SNRHA residents, consultants, development partners, and other stakeholders. 2.3.2 The primary services of the Consultant will include, but will not necessarily be limited to the following: 2.3.2.1 Assist the Executive Director in determining the most appropriate roles and responsibilities for Authority personnel, SNRHA residents, the development team and other involved local officials and stakeholders. 2.3.2.2 Assist the Authority and its legal counsel in preparing the terms of agreements with the development entities and in delineating the overall structure for carrying out development activities. 2.3.2.3 Assist, as necessary, in negotiating with HUD officials leading to the approval of any Plan. 2.3.2.4 Design and maintain a system for tracking the overall progress of all activities relevant to the implementation of the program 2.3.3 The Consultant will be expected to perform specific tasks central to the effective management of the program, including but not necessarily limited to: 2.3.3.1 Review of financing plans to ensure feasibility and maximum outreach to identify and utilize all possible sources and funds 2.3.3.2 Analysis of market conditions to provide guidance in the development programs. 2.3.3.3 Review of plans for property management
