Skip to Main Content
08/01/2022

RFQ - Developer Services

Request for Qualifications (RFQ) No. 2022‐01 for Developer Services

Please contact our office for a full RFQ Packet.

Non-Collusion Affidavit Form: Please contact our office for a copy of this form.

HUD Forms:
HUD-5369-B
HUD-5370-C


Background

Ripley Housing Authority, DBA Ripley Housing, hereinafter called the Agency, is a small but progressive and proactive housing authority and the largest provider of affordable housing in Lauderdale County, TN. Ripley Housing currently owns 265 affordable housing units located within the city limits of Ripley, TN. The Agency currently has a contract to purchase Center Pointe Apartments in Gallaway, TN. This property consists of 60 affordable housing units.

In 2015, the Agency developed an affiliated nonprofit corporation, Servecom Inc., to provide additional affordable housing options and development opportunities to the community. In 2019, the Agency embarked on an agency-wide strategic planning process with the following objectives: diversify revenue streams, create opportunities for self‐sufficiency for low‐income families, modernize our existing housing stock, expand the availability of affordable rental housing and homeownership, reduce blight, and contribute to the economic stability and growth of the community.

General Information

The Agency is soliciting proposals from qualified firms for an Indefinite Quantity Contract (IQC) for the provision of Developer Services. The RFQ package, which contains the general scope of services, evaluation criteria, and submission requirements, can be downloaded from Ripley Housing's website at: www.RipleyHousing.org.

This RFQ conforms to the federal procurement regulations found at 24 CFR 85.36, using the Competitive Negotiations method of procurement.

The Developer must have significant and successful Low‐Income Housing Tax Credit (LIHTC) application and development experience in the state of Tennessee. The Developer must have the ability, skills, experience, and resources to assemble a development team in which team members also have significant and successful LIHTC and development experience. The ability to assemble and coordinate such must be clear and evident from the qualifications submitted.

Submittals must be delivered to the Agency's Administrative office at 101 Northcrest Street, Ripley, TN 38063, or electronic (PDF) submittals emailed to Justin Jones by 10:00 a.m. local time (CT), Wednesday, August 31, 2022. At that time, the Agency will evaluate all on‐time submittals and make a recommendation to the Board of Commissioners for formal approval and award.

Introduction

The Agency is seeking development services to serve as the Developer of multiple affordable real estate transactions. At least two (2) transactions are envisioned. However, this is just an estimate in volume and focus.

Each response to this RFQ must address at least the following core services:

  1. Development services, including due diligence and financial packaging.
  2. Legal services, including deal documents and deal structuring.
  3. Financial services including but not limited to forecasts of Low‐Income Housing Tax Credit (LIHTC) equity, financial analysis, and associated accounting.

Additionally, the Agency is inviting respondents to describe "value‐added" capabilities they can provide to the development process. Such value‐added capabilities could include, but are not limited to, linkages to lenders, capacity‐building, real estate strategy, project management, redevelopment, and experience with financing tools available to housing authorities.

The Agency reserves the right to select multiple respondents or no respondents as a result of this solicitation. Respondents may or may not be interviewed, depending on whether they are under consideration, according to the scoring criteria. Respondent(s) selected for an interview may or may not be asked to provide one or more best and final offers as a means of clarifying their submittal and, therefore, their chances of eventually obtaining an award.

Awards, if any, will be in the form of Indefinite Quantity Contracts (IQC) with specific work to be in the form of Task Orders negotiated on a case‐by‐case basis.

It is possible that the Agency will also negotiate, within the IQC, one or more Task Orders for Development Services not necessarily tied to specific transactions but that support the Agency's overall affordable housing development efforts.

Scoring Criteria
Development Capabilities of the Team or Firm - 40 Points

This criterion evaluates the capability of each respondent to develop affordable housing through the provisions of 1) Development services, including due diligence and financial packaging; 2) Legal services, including deal documents and deal structuring; and 3) Financial services, including but not limited to, forecasts of LIHTC equity, financial analysis, and associated accounting.

This criterion will be scored based on the affordable housing experience of each respondent, as measured by the number and value of affordable housing LIHTC transactions applied for and awarded within the past five (5) years. Furthermore, additional consideration will be considered for respondents who have experience successfully submitting and being awarded LIHTC deals in the state of Tennessee. Lastly, provide a description of 1) a number of dwelling units and associated affordable dwelling units; 2) ownership structure; and 3) financial structure resulting from each LIHTC transaction. A summary of the sources and uses of financing for each LIHTC transaction should also be included.

Knowledge and Skills of the Individuals Assigned - 20 Points

This criterion evaluates the knowledge and skills of the individuals who will be providing the Agency with development, legal, and financial services as detailed in each Task Order. The IQC will contain a Key Individual Clause that requires the individuals included and scored in this submittal, to be assigned, and remain in place unless the Agency agrees to otherwise in writing.

This criterion will be scored based upon each submitted résumé. It is important to provide information on the time and tasks to be assigned to each individual.

Proposed Terms of the Agency's Participation - 20 Points

This criterion evaluates the prevailing approach of each respondent, as described in its submittal, regarding collaboration with the Agency. This collaboration will involve negotiating at minimum the following:

  1. Ownership structure
  2. Property management. Third-party management may be necessary during the initial period. However, the Agency must assume control of all management functions as soon as possible. The Agency reserves the right to select this third‐party management firm during the initial period.
  3. Terms and amount of fees required by the respondent in the Pre‐Development phase
  4. Developer Fee
  5. Distribution of cash flow

This criterion will be scored based upon the degree to which each respondent is willing to maximize the Agency's participation in various aspects, including ownership, management, fees, and cash flow.

Value‐Added Capabilities - 20 Points

This criterion evaluates capabilities that add value to the development process. This could include but is not limited to, linkages with lenders, capacity‐building, real estate strategy, project management, redevelopment, and experience with financing tools available to housing authorities.

Submittal Format

Packages should be submitted by 10:00 a.m. local time (CT), Wednesday, August 31, 2022, to Ripley Housing, 101 Northcrest Street, Ripley, TN 38063; or electronically (PDF) submittals via email to Justin Jones.

The proposal must have a cover letter signed by a person authorized to bind the firm. The proposal must contain the address, office phone number, cell phone number, fax number, and email address of the firm's primary contact. Proposals should be submitted in the following format:

  1. Development capabilities of the team or firm
  2. Résumés of everyone to be assigned in each Task Order
  3. Proposed terms of the Agency's participation
  4. Value‐Added capabilities

**NOTE: Elaborate proposals are not expected. What is sought are straightforward proposals with a clear presentation of the experience and capabilities that qualify the Offeror to do the work (with particular reference to key individuals), proposed terms, and value‐added capabilities.

Selection Process

The Agency will structure an Evaluation Committee which will score all submittals using the Scoring Criteria described above. The Evaluation Committee may, at its discretion, interview one or more respondents depending on whether they are considered, according to the Scoring Criteria, to have a reasonable chance of obtaining an award. The interview would serve to clarify each interviewee's submittal and could lead to a refinement of the scoring by the Evaluation Committee.

The Evaluation Committee may, in its discretion, seek supplemental submissions from one or more interviewees, termed as "Best and Final Offer" ("BAFO"). The BAFO would serve to further clarify each interviewee's BAFO qualifications and could lead to a refinement of the interviewee's scoring by the Evaluation Committee.

Notice to Proceed

Award of an Indefinite Quantity Contract (IQC) under this solicitation will not automatically lead to a notice to proceed.

Instead, any actual work will result from the successful negotiation of one or more Task Orders. The Agency will negotiate a separate Task Order for each transaction it intends to execute.

It is the Agency's expectation that the successful respondent will use its proposed terms of the Agency's participation (as described in its submittal) as a framework, subject to further negotiations with the Agency regarding each specific proposed transaction and/or Task Order. As applicable, specialized services from team members (such as legal and accounting services) will have firm‐specific contracts tied to and financed by each transaction.

The Agency also reserves the right to negotiate one or more Task Orders for Development Services not necessarily tied to specific transactions, but that support the Agency's overall affordable housing development efforts.

The Agency reserves the right to make multiple awards or no awards, at its discretion, under this solicitation.


Non-Collusion Affidavit Form: Please contact our office for a copy of this form.


HUD Forms:
HUD-5369-B
HUD-5370-C

Media Kit