Specifications include, but are not limited to: The City’s Housing and Neighborhoods Department is seeking experienced, qualified developers to submit proposals for either the purchase or lease of one (1) City-owned vacant lot for the construction of attractive, sustainable, energy-efficient for-sale or rental housing on approximately 2.54 acres located at 4314 Poole Road (the “Subject Property”). To be considered, proposals must include a minimum of 20% of the total units within the development as affordable to households earning no greater than 60% of the Area Median Income (AMI), adjusted for family size, for the Raleigh, NC Metropolitan Statistical Area (MSA) as established by the U.S. Department of Housing and Urban Development (HUD). The City intends to dispose of the Subject Property either by sale or lease for construction of for-sale or rental housing. The method of disposition will depend on the nature of the selected project and will be determined by the City. Disposition will be guided by applicable state laws, which require the Proposer to provide a valuable public service benefit to the City such as affordable housing units in exchange for receiving the Subject Property by sale or lease for the construction of for-sale or rental housing. The Subject Property may be sold or leased for less than market value to the Proposer depending on the level of public service benefit provided to the City by the Proposer as a result of the project. In addition, the Proposer may also request funds from the City to subsidize site infrastructure improvements for the project; however, the level of public service benefit provided to the City by the Proposer through the project must be justified in order to be eligible to receive any subsidy. Financial subsidy provided by the City will be in a form deemed appropriate by the City, likely a low-interest loan.