8. INTENT/SCOPE OF WORK The selected firm should demonstrate a deep understanding of the affordable housing market with a focus on the financial feasibility, applicable regulations and the strategic opportunities that affect strategic housing decisions. Key Responsibilities: A. Comprehensive Financial Analysis o Conduct financial reviews of City-supported affordable housing projects, including an analysis of financial statements, partnership agreements, and property performance metrics. o Assess compliance with relevant regulatory frameworks, such as Low-Income Housing Tax Credit (LIHTC) requirements, and operational sustainability. B. Strategic Redevelopment Planning o Provide recommendations for redevelopment or repositioning strategies, including resyndication, refinancing, capital improvements, or potential ownership restructuring. o Align redevelopment strategies with the City’s objectives for maintaining affordability, enhancing financial stability, and meeting housing demand. C. Capital Planning and Optimization o Assess the need for capital improvements and propose recapitalization strategies. o Identify opportunities to optimize financial performance while preserving affordability. D. Market and Policy Analysis o Analyze the relationship between the City of New Rochelle’s government policies and prevailing market trends and compare to the market dynamics of similar municipalities nationwide. o Assess the effects of policy interventions on pricing, quantities, and the behavior of the City’s residents and their overall impact on market efficiency. o Evaluate the influence of policy decisions on supply and demand within the housing sector in Westchester County or in a city comparable to New Rochelle. E. Trend and Policy Analysis o Evaluate trends of similar transactions nationwide o Identify policy considerations that impact the City’s affordable housing projects. F. Stakeholder Engagement o Collaborate with City officials, property managers, and other stakeholders to ensure alignment with local priorities. o Incorporate input from community stakeholders when applicable to support inclusive and effective redevelopment planning. G. Final Reporting and Implementation Plan o Deliver a comprehensive report summarizing findings, strategic recommendations, and actionable steps. o Provide implementation strategies for the City to advance redevelopment goals effectively.
