Item 09 - Request for Proposals for Affordable Housing Development

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CITY OF SANTA ANA (5) A final score will be calculated for each submitted proposal and used to rank Proposers. Based upon the foregoing criteria, all proposals shall be ranked by score. Only those proposals receiving a score above 75 will be considered for award. The City reserves the right to award the contract to any proposer(s) with a score above 75. The review committee will evaluate proposers based on their response to the RFP and the City evaluation criteria set forth above. (6) The City is under no obligation to accept any proposal and reserves the right to negotiate with respondents as to fees and terms. The City may reject proposals at its sole discretion. If a proposal fails to satisfy any requirements outlined in this RFP, it may be considered non- responsive and may be rejected. The City shall not be obligated to accept the lowest priced proposals, but will make awards in the best interests of the City after all factors have been evaluated. The review committee will recommend the qualified Proposers to the City Council or City Manager for award of contract, as appropriate. (7) The review committee may invite the proposers to interview. The City reserves the right to seek additional information from any or all Proposers invited to present proposals. A final score will be calculated for each submitted proposal and used to rank Proposers. City reserves 4. DEVELOPER EXPERIENCE AND SKILLS (MAX. 15 POINTS) Applicant's capacity and ability to obtain additional financing 4 Applicant's capacity and ability to obtain entitlements 4 Applicant's overall past and projected effectiveness to provide affordable housing 4 Applicant's past and projected effectiveness to manage the construction process and stay on schedule 3 5. LEVERAGING OF CITY FUNDS (MAX. 5 POINTS) Applicant's potential or capacity to obtain additional financing for this project 5 6. ANTICIPATED CASH FLOWS FINANCIAL PARAMETERS (MAX. 15 POINTS) Project's proposed development costs are reasonable and comparable 3 Project's proposed rents/sales prices are realistic 3 Project’s operating costs are realistic and reasonable 3 Project has sufficient operating and replacement reserves 3 Project is projecting a positive cash flow through affordability period 3 7. PROJECT LOCATION (MAX. 5 POINTS) Project is located in an area currently underserved by affordable housing 5 BONUS POINTS: (1) Acquisition and rehabilitation projects that consist of substantial rehabilitation and will impose long-term affordability covenants on the units. Acquisition and rehabilitation projects include adaptive reuse and/or motel conversion projects that will result in income-restricted housing units. (2) Projects that will provide homeownership opportunities. (3) By-right or shovel-ready projects 10 TOTAL POSSIBLE SCORE 110 EXHIBIT 1