REDEVELOPMENT AUTHORITY OF ALL...
REDEVELOPMENT AUTHORITY OF ALL...
REDEVELOPMENT AUTHORITY OF ALLEGHENY COUNTY
REQUEST FOR QUALIFICATIONS (RFQ) FOR REAL ESTATE FINANCIAL ANALYSIS AND UNDERWRITING SERVICES
Release Date: April 2, 2025
Response Due Date: May 2, 2025
Contact Information: Beth O'Donnell, Authorities Coordinator
Beth.ODonnell@alleghenycounty.us
412-350-1067
BACKGROUND
The Redevelopment Authority of Allegheny County (RAAC), administered by Allegheny County Economic Development (ACED), is seeking qualifications from experienced consultants to provide real estate financial analysis and underwriting services. The selected consultant will assist RAAC in evaluating real estate projects that may involve tax abatements, tax increment financing (TIF), and other value capture financing mechanisms in addition to financial modeling and underwriting for special projects of RAAC that includes real estate acquisition and/ or loan generation to support an economic development project.
SCOPE OF SERVICES
The selected consultant will be responsible for:
1. Financial Analysis: Conducting comprehensive financial analyses of real estate projects, including cash flow projections, investment returns, and cost-benefit analyses.
2. Underwriting Services: Evaluating the feasibility of projects, assessing risks, and providing underwriting support for complex financial investments.
3. Tax Abatement and TIF Analysis: Analyzing the implications of tax abatement programs and TIF structures on project viability and community benefits.
4. Value Capture Financing: Assessing alternative financing strategies that utilize increased property values to fund public infrastructure and services.
5. Reporting: Preparing detailed reports and presentations for stakeholders, including RAAC board members, local governments, and community organizations.
6. Collaboration: Working closely with RAAC staff, developers, counsel and other stakeholders to ensure alignment with community goals and objectives.
QUALIFICATIONS
Interested individuals or firms should demonstrate the following qualifications:
Proven experience in real estate financial analysis and underwriting, particularly in the context of public financing mechanisms and economic development, specifically with tax-increment and tax abatement financial modeling, analysis, and tools.
A strong understanding of tax abatement programs, TIF, and value capture financing strategies.
- Experience in working with public sector clients, developers, and community stakeholders.
A track record of successfully completed projects and client references.
Relevant educational background and professional certifications (e.g., real estate finance, economics, public policy).
SUBMISSION REQUIREMENTS
Firms interested in this opportunity must submit the following:
1. Cover Letter: Introduce your firm and express your interest in providing the requested services.
2. Firm Profile: Include a brief history of the firm, including size, location, and areas of expertise. Provide examples of diverse projects that requires different approaches.
3. Relevant Experience: Highlight previous projects that demonstrate your qualifications in real estate financial analysis and underwriting, particularly those involving public financing.
4. Key Personnel: Provide resumes and qualifications of key personnel who will be involved in the project, emphasizing their experience with flexible, on-call consulting arrangements.
5. General Approach: Outline your general methodology for providing real estate financial analysis and underwriting services/discuss how you would approach projects with varying scopes and complexities, while aligning approach with federal, state, and local policies and processes. Consider including:
a. A description of how you assess project needs and develop tailored financial models.
b. Your process for engaging with stakeholders and gathering necessary project information.
c. How you ensure responsiveness and adaptability to changing project requirements.
6. Proposed Timeline Framework: While specific timelines and scopes of work may vary based on the project's nature, please provide a general framework for how you would approach timelines for typical project stages (e.g., initial assessment, analysis, reporting). This could include:
a. Estimated timeframes for different phases of analysis based on project complexity (e.g., straightforward vs. complex financial structures).
b. Your availability for on-call support and how you manage multiple simultaneous projects.
7. References: Include at least three references from clients for whom you have provided similar services in the past.
FEE SCHEDULE REQUIREMENTS
Please provide a proposed fee schedule that reflects a pricing structure that allows for flexibility in the services offered which would allow us to estimate costs based on project complexity and the necessary processes and reports relative to a specific project. You may consider including the following, though not all are necessary:
1. Hourly Rates: Hourly rates for different levels of personnel
2. Project Based Fees: Flat-fees for specific types of projects or analyses that may be conducted (loan underwriting for a business development projects, financial modeling and financial analysis and reporting/ presentation relative to a proposed TIF project, financial feasibility reports).
3. Retainer/On-Call Fees: Outline any retainer fee structures for on-call availability, including details on additional fees for specific tasks.
4. Cost Estimates: Provide cost estimates for typical projects based on your experience, including a range of potential costs.
5. Flexibility and Adjustments: Describe how you would communicate and handle fee adjustments for varying project scopes and additional work.
6. Expense Reimbursement Policy: Outline your policy for reimbursable expenses and any applicable markups.
7. Invoicing and Payment Terms: Include information on your invoicing process and payment terms.
SUBMISSION INSTRUCTIONS
Please submit your qualifications electronically in PDF format to Beth.ODonnell@alleghenycounty.us by May 2, 2025. Late submissions will not be considered.
SELECTION PROCESS
RAAC will evaluate the submissions based on the following criteria:
- Relevant experience and qualifications
- General approach and flexibility in methodology
- Quality of references
- Understanding of local context and agency needs
Upon review, selected firms may be invited for interviews to further discuss their qualifications and approach.
PROJECT CONTACTS:
RAAC is a Pennsylvania Redevelopment Authority, organized under the Urban Redevelopment Law of Pennsylvania, Act of May 24, 1945, P.L. 991, as amended, and is administered by ACED. The Department contact is:
Beth O'Donnell, Authorities Coordinator
Beth.ODonnell@alleghenycounty.us
412-350-1067
Discrimination Disclaimer: RAAC, ACED, and The County of Allegheny does not discriminate on the basis of race, color, creed, religion, disability, or sexual orientation. Furthermore, minority, women, and disadvantaged business owners are encouraged to pursue business opportunities with the County. For information on the M/W/DBE Program, M/W/DBE Certification, and How to Obtain Business within Allegheny County, contact the Allegheny County Department of Equity and Inclusion at (412) 350-4309 and on the County of Allegheny web site at: https://info.alleghenycounty.us/equity-inclusion/Default.aspx
Right to Investigate.
RAAC, and its agents, partners, consultants, contractors, employees and officers, shall have the right to verify, through any means, the accuracy of all information submitted by a responding consultant and shall have the right to make such inquiries and investigations as it deems necessary to determine the ability of a responding consultant to perform the obligations set forth in its response to this RFQ. RAAC reserves the right to reject the response of any responding consultant who refuses to cooperate with and assist RAAC in the making of such inquiries and investigations. Moreover, RAAC reserves the right to reject any response where the available evidence or information does not satisfy RAAC, in its sole judgment and discretion, that the responding consultant (a) is qualified to properly carry out the obligations set forth in the response, and/or (b) is a person or developer of good reputation and/or character with the ability to undertake strict, complete and faithful performance of its business obligations.
Addenda To RFQ
RAAC reserves the right to issue addenda for the purpose of supplementing, clarifying, revising or amending the RFQ (collectively, the Addenda). Any Addenda so issued shall be kept on file at RAAC's offices. In addition, all Addenda will be sent to each consultant who received a copy of this RFQ and who has entered its name and address on the list maintained by RAAC for such purpose. Nevertheless, it is the responsibility of each responding consultant to: (1) inquire as to the issuance of any Addenda, (2) ascertain prior to submitting a response that all Addenda have been received, and (3) acknowledge in said response that all Addenda have been received. All Addenda shall become part of this RFQ at the time they are issued, and all responding consultants shall be deemed to have constructive knowledge and notice of, and to be bound by, such Addenda, whether or not they are in actual receipt thereof.
Conflict of Interest
Consultants shall neither offer gifts or anything of value nor enter into any business arrangement with any employee, official or agent of RAAC. By signing their response, the responding consultant certifies and represents to RAAC that the responding consultant has not offered, conferred or agreed to confer any pecuniary benefit or other thing of value for the receipt of special treatment, advantaged information, recipient's decision, opinion, recommendation, vote or any other exercise of discretion concerning this RFQ.
Preparation Costs
Each responding consultant agrees that the cost of all materials, preparations and presentations involved in the submission of its response and/or its participation in the selection process shall be borne by said responding consultant at its sole cost and expense. RAAC shall, under any circumstances, be responsible for any costs or expenses incurred by a responding consultant in preparing a response to this RFQ, or in participating in any subsequent steps in the selection process, such as providing additional information to RAAC, engaging in negotiations and/or discussions with RAAC, and/or making presentations to any interested parties. Each responding consultant agrees that all documentation and materials submitted either with a response or at any point during the selection process shall remain the property of RAAC.
No Co-partnership
No partnership, joint venture, other business combination or agency relationship is created between RAAC and any Responding Developer by virtue of this RFQ, the selection process or otherwise. The Issuance of this RFQ does not obligate RAAC or ACED to enter into any agreement, and RAAC reserves the right to reject any and all qualifications submitted. Please send submission requirements outlined electronically to Beth O'Donnell by Friday, May 2, 2025 at 3:00 pm.
REDEVELOPMENT AUTHORITY OF ALLEGHENY COUNTY
REQUEST FOR QUALIFICATIONS (RFQ) FOR REAL ESTATE FINANCIAL ANALYSIS AND UNDERWRITING SERVICES
Release Date: April 2, 2025
Response Due Date: May 2, 2025
Contact Information: Beth O'Donnell, Authorities Coordinator
Beth.ODonnell@alleghenycounty.us
412-350-1067
BACKGROUND
The Redevelopment Authority of Allegheny County (RAAC), administered by Allegheny County Economic Development (ACED), is seeking qualifications from experienced consultants to provide real estate financial analysis and underwriting services. The selected consultant will assist RAAC in evaluating real estate projects that may involve tax abatements, tax increment financing (TIF), and other value capture financing mechanisms in addition to financial modeling and underwriting for special projects of RAAC that includes real estate acquisition and/ or loan generation to support an economic development project.
SCOPE OF SERVICES
The selected consultant will be responsible for:
1. Financial Analysis: Conducting comprehensive financial analyses of real estate projects, including cash flow projections, investment returns, and cost-benefit analyses.
2. Underwriting Services: Evaluating the feasibility of projects, assessing risks, and providing underwriting support for complex financial investments.
3. Tax Abatement and TIF Analysis: Analyzing the implications of tax abatement programs and TIF structures on project viability and community benefits.
4. Value Capture Financing: Assessing alternative financing strategies that utilize increased property values to fund public infrastructure and services.
5. Reporting: Preparing detailed reports and presentations for stakeholders, including RAAC board members, local governments, and community organizations.
6. Collaboration: Working closely with RAAC staff, developers, counsel and other stakeholders to ensure alignment with community goals and objectives.
QUALIFICATIONS
Interested individuals or firms should demonstrate the following qualifications:
Proven experience in real estate financial analysis and underwriting, particularly in the context of public financing mechanisms and economic development, specifically with tax-increment and tax abatement financial modeling, analysis, and tools.
A strong understanding of tax abatement programs, TIF, and value capture financing strategies.
- Experience in working with public sector clients, developers, and community stakeholders.
A track record of successfully completed projects and client references.
Relevant educational background and professional certifications (e.g., real estate finance, economics, public policy).
SUBMISSION REQUIREMENTS
Firms interested in this opportunity must submit the following:
1. Cover Letter: Introduce your firm and express your interest in providing the requested services.
2. Firm Profile: Include a brief history of the firm, including size, location, and areas of expertise. Provide examples of diverse projects that requires different approaches.
3. Relevant Experience: Highlight previous projects that demonstrate your qualifications in real estate financial analysis and underwriting, particularly those involving public financing.
4. Key Personnel: Provide resumes and qualifications of key personnel who will be involved in the project, emphasizing their experience with flexible, on-call consulting arrangements.
5. General Approach: Outline your general methodology for providing real estate financial analysis and underwriting services/discuss how you would approach projects with varying scopes and complexities, while aligning approach with federal, state, and local policies and processes. Consider including:
a. A description of how you assess project needs and develop tailored financial models.
b. Your process for engaging with stakeholders and gathering necessary project information.
c. How you ensure responsiveness and adaptability to changing project requirements.
6. Proposed Timeline Framework: While specific timelines and scopes of work may vary based on the project's nature, please provide a general framework for how you would approach timelines for typical project stages (e.g., initial assessment, analysis, reporting). This could include:
a. Estimated timeframes for different phases of analysis based on project complexity (e.g., straightforward vs. complex financial structures).
b. Your availability for on-call support and how you manage multiple simultaneous projects.
7. References: Include at least three references from clients for whom you have provided similar services in the past.
FEE SCHEDULE REQUIREMENTS
Please provide a proposed fee schedule that reflects a pricing structure that allows for flexibility in the services offered which would allow us to estimate costs based on project complexity and the necessary processes and reports relative to a specific project. You may consider including the following, though not all are necessary:
1. Hourly Rates: Hourly rates for different levels of personnel
2. Project Based Fees: Flat-fees for specific types of projects or analyses that may be conducted (loan underwriting for a business development projects, financial modeling and financial analysis and reporting/ presentation relative to a proposed TIF project, financial feasibility reports).
3. Retainer/On-Call Fees: Outline any retainer fee structures for on-call availability, including details on additional fees for specific tasks.
4. Cost Estimates: Provide cost estimates for typical projects based on your experience, including a range of potential costs.
5. Flexibility and Adjustments: Describe how you would communicate and handle fee adjustments for varying project scopes and additional work.
6. Expense Reimbursement Policy: Outline your policy for reimbursable expenses and any applicable markups.
7. Invoicing and Payment Terms: Include information on your invoicing process and payment terms.
SUBMISSION INSTRUCTIONS
Please submit your qualifications electronically in PDF format to Beth.ODonnell@alleghenycounty.us by May 2, 2025. Late submissions will not be considered.
SELECTION PROCESS
RAAC will evaluate the submissions based on the following criteria:
- Relevant experience and qualifications
- General approach and flexibility in methodology
- Quality of references
- Understanding of local context and agency needs
Upon review, selected firms may be invited for interviews to further discuss their qualifications and approach.
PROJECT CONTACTS:
RAAC is a Pennsylvania Redevelopment Authority, organized under the Urban Redevelopment Law of Pennsylvania, Act of May 24, 1945, P.L. 991, as amended, and is administered by ACED. The Department contact is:
Beth O'Donnell, Authorities Coordinator
Beth.ODonnell@alleghenycounty.us
412-350-1067
Discrimination Disclaimer: RAAC, ACED, and The County of Allegheny does not discriminate on the basis of race, color, creed, religion, disability, or sexual orientation. Furthermore, minority, women, and disadvantaged business owners are encouraged to pursue business opportunities with the County. For information on the M/W/DBE Program, M/W/DBE Certification, and How to Obtain Business within Allegheny County, contact the Allegheny County Department of Equity and Inclusion at (412) 350-4309 and on the County of Allegheny web site at: https://info.alleghenycounty.us/equity-inclusion/Default.aspx
Right to Investigate.
RAAC, and its agents, partners, consultants, contractors, employees and officers, shall have the right to verify, through any means, the accuracy of all information submitted by a responding consultant and shall have the right to make such inquiries and investigations as it deems necessary to determine the ability of a responding consultant to perform the obligations set forth in its response to this RFQ. RAAC reserves the right to reject the response of any responding consultant who refuses to cooperate with and assist RAAC in the making of such inquiries and investigations. Moreover, RAAC reserves the right to reject any response where the available evidence or information does not satisfy RAAC, in its sole judgment and discretion, that the responding consultant (a) is qualified to properly carry out the obligations set forth in the response, and/or (b) is a person or developer of good reputation and/or character with the ability to undertake strict, complete and faithful performance of its business obligations.
Addenda To RFQ
RAAC reserves the right to issue addenda for the purpose of supplementing, clarifying, revising or amending the RFQ (collectively, the Addenda). Any Addenda so issued shall be kept on file at RAAC's offices. In addition, all Addenda will be sent to each consultant who received a copy of this RFQ and who has entered its name and address on the list maintained by RAAC for such purpose. Nevertheless, it is the responsibility of each responding consultant to: (1) inquire as to the issuance of any Addenda, (2) ascertain prior to submitting a response that all Addenda have been received, and (3) acknowledge in said response that all Addenda have been received. All Addenda shall become part of this RFQ at the time they are issued, and all responding consultants shall be deemed to have constructive knowledge and notice of, and to be bound by, such Addenda, whether or not they are in actual receipt thereof.
Conflict of Interest
Consultants shall neither offer gifts or anything of value nor enter into any business arrangement with any employee, official or agent of RAAC. By signing their response, the responding consultant certifies and represents to RAAC that the responding consultant has not offered, conferred or agreed to confer any pecuniary benefit or other thing of value for the receipt of special treatment, advantaged information, recipient's decision, opinion, recommendation, vote or any other exercise of discretion concerning this RFQ.
Preparation Costs
Each responding consultant agrees that the cost of all materials, preparations and presentations involved in the submission of its response and/or its participation in the selection process shall be borne by said responding consultant at its sole cost and expense. RAAC shall, under any circumstances, be responsible for any costs or expenses incurred by a responding consultant in preparing a response to this RFQ, or in participating in any subsequent steps in the selection process, such as providing additional information to RAAC, engaging in negotiations and/or discussions with RAAC, and/or making presentations to any interested parties. Each responding consultant agrees that all documentation and materials submitted either with a response or at any point during the selection process shall remain the property of RAAC.
No Co-partnership
No partnership, joint venture, other business combination or agency relationship is created between RAAC and any Responding Developer by virtue of this RFQ, the selection process or otherwise. The Issuance of this RFQ does not obligate RAAC or ACED to enter into any agreement, and RAAC reserves the right to reject any and all qualifications submitted. Please send submission requirements outlined electronically to Beth O'Donnell by Friday, May 2, 2025 at 3:00 pm.
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