OBJECTIVE

The City of Youngstown is seeking to sell the approximately 5.48 acre site, identified as Youngstown City Lot 61846 Parcel ID 53-153-0-131.00-0 on Meredyth Lane and seeks to solicit a Request for Development Proposals from experienced, financially sound, and capable developers to provide for the development of the site. Please contact the office of Economic Development if you wish to obtain a map of the property.

The City of Youngstown seeks to minimize its financial contribution to the project and seeks proposals that will compliment the surrounding residential area and institutional facilities in the vicinity.

BACKGROUND

The subject property is located in the City of Youngstown in an area called Cornersburg due to its location abutting Youngstown, Boardman Township, Canfield Township, and Austintown Township. Canfield Road (State Route 62) runs east and west, and is intersected by several heavily traveled north and south service roads, namely Bears Den Road, Schenley Avenue and Meridian Road. Mill Creek Park, a major natural park, is just a few blocks east of subject. Surrounding corridors developed into shopping, offices, churches, schools, assisted living facilities, and large apartment complexes.

This area is densely populated and most homes are moderately priced and well maintained. Vacancies are minimal in this area.

UTILITIES

All public and private utilities are available to serve the site. Relocation of some utilities may be required, all plans and specifications subject to necessary review and approved by the appropriate agency, authority, and/or organization. Conditions are as-is and where-is with no warranty either expressed or implied. The Office of Economic Development should be contacted to review available maps.

ENVIRONMENTAL

No environmental reports for the site are available. Conditions are as-is and where-is with no warranty either expressed or implied.

ZONING

Zoned R-A

PROPOSAL FORMAT

Four copies, one not stapled or bound, are to be submitted with the following included:

A cover letter summarizing the proposed project and contains the following:

• Legal name, address and status of the developer along with the names and addresses of the individual principals with authority to legally bind the developer. Joint ventures should include the same for all participating developers.

• Name, title, address, telephone, fax number and e-mail addresses of the designated contact.

Overview of the developer including the following:

• A concise description of the developer including organizational structure, subsidiary companies, identification of principals or parent companies, length of time in business. Joint ventures should provide this information for each entity.

• A descriptive list of commercial/residential projects you have developed with emphasis on those similar to proposed project (include project name, project type, date of construction, location, size/number of units, ownership and financial structures).

• A detailed description of your team’s experience and key staff who would be utilized to implement the project and represent the development team.

• Evidence that the developer, including joint venture partners, has the financial capability to carry out the proposed commitments. The developer’s two most recently audited financial statements shall be submitted CONFIDENTIALLY UNDER SEPARATE COVER.

Conceptual design and use description for the project

• A preliminary site plan identifying the proposed placement of structures/building uses, conceptual design of structure and orientation to streets and existing structures is required.

Financial Analysis

• Projection of financial benefit/compensation to the City of Youngstown for the acquisition price of the property

• Equity contribution from the developer

• Construction cost estimate and square footage of development

• Sources and uses of proposed project

• Proposed financing

• A statement in regard to any assistance or concessions, if any, expected from the City of Youngstown

• A statement on whether the proposed development is contingent on any local, state or federal government action (e.g. regulation changes, site access issues, public funding)

Proposed Development Schedule

• A preliminary development schedule for the proposed development indicating dates for major milestones, such as start of project design, construction bids, and start of construction.

Proposed Development in Narrative Format that addresses following

• Description of the public benefits that will result from the project with an emphasis on immediate surrounding area

• Targeted market and data that addresses feasibility

• Identification of all entities involved and roles particularly in the case of a joint venture

SELECTION PROCESS & TIMELINE

• June 12 and 19, 2008 RFP is publicized and distributed
• July 8, 2008 Questions and Clarification Period ends
• July 14, 2008 Proposal Deadline
• July 15 – July 25, 2008 Review of Proposals – review may include request for additional information
• July 28 – August 8, 2008 Interviews and Presentations of select proposals
• August 14- August 18, 2008 Selection made by Board of Control

Proposals will be evaluated based on the following:

• Overall financial benefit and compensation to the City including an upfront purchase price and any continuous revenue streams that may result from project

• Total amount of investment directly contributing to improvements to real estate property and increased value

• Degree to which project compliments surrounding neighborhood and area institutions

• Developers past experience with projects similar to that of proposal.

 

• Financial sources minimally rely on funding from City of Youngstown programs

GENERAL CONDITIONS

• The City of Youngstown reserves the right to select a developer(s) solely on the basis of qualifications. The City of Youngstown also reserves the right to accept or reject any and all of the responses, in whole or in part; to alter the selection process in any way; to postpone or cancel the selection process for its own convenience at any time; to waive any defects/informalities; to disregard all non-conforming, non-responsive or conditional responses; and/or to issue a new RFDP at any time.

• This RFDP and the selection process shall in no way be deemed to create a binding contract or agreement, of any kind, between the City of Youngstown and developer. If the City of Youngstown selects a candidate(s) to provide the services described within this RFDP and deems the developer to be capable, experienced and financially prepared, a Development Agreement may be entered into.

• The developer by submitting a response to the RFDP, waives all rights to protest or seek any legal remedies whatsoever regarding any aspect of the RFDP, the City of Youngstown’s selection of a developer with whom it enters into negotiations, the City of Youngstown’s rejection of any or all responses and any subsequent Agreement that might be entered into as a result of the Request for Proposal.

DESIGN REVIEW PROCESS

Once selected, the successful developer(s) will be expected to present schematic, design development and final construction documents for review and approval. Prior to review by the Committee, the developer will work with City officials to obtain review comments from community stakeholders and public hearings.

WRITTEN AGREEMENT REQUIRED

The selected developer(s) must be willing to negotiate and enter into a written Development Agreement to acquire control of and construct an approved redevelopment project on the property.

EARNEST MONEY

Upon selection, the developer shall submit a non-refundable check made payable to The City of Youngstown in the amount of 10% of the proposed compensation as earnest money. The developer will be required to submit the earnest money within 10 days of being notified that it has been selected or forfeit its position and negotiations will begin with an alternative developer. The earnest money shall be non-refundable in the event developer, after performing its due diligence, elects to terminate the transaction. Should the chosen developer be unable to perform for any reason, the developer shall forfeit the earnest money and The City of Youngstown shall retain the earnest money as liquidated damages.

NO REPRESENTATION OR WARRANTY

All information contained herein is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, or withdrawal without notice. The developer should make its own conclusions regarding the site, its physical, environmental, and/or market conditions. Information provided in this RFDP, as well as in related, reports, drawings, and addenda by The City of Youngstown is provided for the convenience of developers only.

Proposals should be clearly marked as “MEREDYTH LANE PROPOSAL” and submitted by July 14, 2008 before 4:00 pm to:

Director of Finance

City of Youngstown

26 S. Phelps Street

Youngstown, OH 44503

For additional information concerning this RFDP, interested parties may contact T. Sharon Woodberry, Director of Economic Development at (330) 744-1708.

ADVERTISING DATES: JUNE 12, 2008

JUNE 19, 2008