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Bid Number: n/a
Bid Title: RFP: Green St. Garage Mixed-Use Redevelopment Opportunity
Category: Ithaca Urban Renewal Agency (IURA)
Status: Open

Description:

MIXED-USE REDEVELOPMENT OPPORTUNITY, DOWNTOWN ITHACA, NY
DUE DATE: JANUARY 23, 2018 (3:00 PM, EST)


Green St. Garage Redevelopment - IURA Request for Proposals (RFP) (11/22/17)

Green St. Garage RFP: IURA Sponsor Application Form (11/22/17) (Fillable PDF)

Green St. Garage RFP: Housing Profile Form (11/22/17) (Excel File)

Green St. Garage RFP: For-Sale Housing Profile Form (11/22/17) (Excel File)

NOTE: Please be sure to refer to the "Related Documents" and links listed at the bottom of this page.

The Ithaca Urban Renewal Agency (IURA) seeks a qualified partner to redevelop the Green Street Parking Garage site for a project that increases housing choices and retains sufficient parking to meet current parking utilization, as well as additional parking demand created by the project. Other preferred uses include ground-level active uses on Green Street and a conference center. The project must retain the existing 5-screen cinema and pedestrian connection between Green Street and The Commons.

The IURA is authorized to negotiate the property sales price and the development program, subject to final City of Ithaca Common Council approval. The IURA seeks fair market value for the property, but expects deductions in consideration of community benefits provided by the project (e.g., below-market housing; reconstruction of public parking at developer’s expense).

The City is facing a housing crisis driven by supply not meeting demand, especially for low- and moderate-income households. The Tompkins County Housing Strategy targets the need to construct 5,800 workforce housing units over the next 10 years for households earning 100% or less of Area Median Income (AMI). In addition, gaps in the supply of housing also exist for supportive housing, senior housing, and purpose-built student housing, though student housing is not the focus for this opportunity.

The location of the project is in the heart of Ithaca’s downtown, just one-half block off The Commons, ideal for walkability and transit with convenient dining, shopping, entertainment, banking, and other services.

This Request for Proposals (RFP) is intended to identify and engage a developer or development team to undertake the planning, financing, marketing, and development of the site as an urban renewal project, subject to City of Ithaca Common Council approval. The selected developer(s) will demonstrate their knowledge and capacity to successfully design, entitle, finance, build, and operate a mixed-use project. Developers will be asked to submit a development program and project concept, project budget, preliminary design, financing plan, and financial pro forma, offering incentives and any specific demands, resources, or actions from the IURA or City.


Publication Date/Time:
11/22/2017 12:00 AM
Closing Date/Time:
1/23/2018 3:00 PM
Contact Person:
Nels Bohn
Director of Community Development
Ithaca Urban Renewal Agency
108 E. Green St.
Ithaca, NY 14850
nbohn@cityofithaca.org
(607) 274-6565
Fee:
$500.00
Business Hours:
8:30 a.m.-4:30 p.m., M-F
Fax Number:
(607) 274-6558
Qualifications:
PREFERRED USE
The IURA is seeking the following programmatic elements to be included in the project:

A. Housing units specifically designed to appeal to a diverse demographic, including a substantial number of units to be affordable to low- and/or middle-income households;
B. Street-level active uses along Green Street;
C. Retention of the Cinemapolis movie theater & a public walkway between Green Street and the Commons;
D. At least 450 parking spaces open to the public, of which at least 90 will be available for short-term parking; and
E. A conference center.

Developers are not required to include every preferred programmatic element to be considered for selection. Moreover, the IURA will consider alternative development programs that creatively address community housing needs and satisfy existing parking demand and projected parking requirements from the proposed project.

Should a developer seek to acquire only a portion of the site, the scope of the proposed project is expected to be reduced.

Special Requirements:
RFP SUBMITTAL REQUIREMENTS

A. COVER LETTER: Provide a cover letter describing the interest in the site and summarizing the major points contained in the development proposal.

B. IURA SPONSOR APPLICATION FORM: See accompanying form.

C. TEAM MEMBERS: Identify the team members and the proposed legal entity with whom the Agency would negotiate and contract with. Include the contact person, firm name, address, e-mail, and telephone number of each of the members of the team. Include the lead development firm, architectural firm, property management firm, and other key players or consultants, along with their roles. Please include summary resumes of key personnel (no more than 2 pages per person).

D. RELEVANT EXPERIENCE OF TEAM MEMBERS: Teams should include a Developer and an architectural/design/engineer firm.
o Developer: List any residential, commercial, or mixed-use projects developed by the developer within the past five years. Include a summary of these projects by providing a description, total square feet, total site size, location, and current status of the projects. In addition, include a representative photograph of listed projects if complete or an architectural rendering only if the projects are incomplete.
o Architect/Design/Engineer Firm: List relevant residential, commercial, parking, or mixed-use projects that have been designed within the past five years. Provide a summary description of each project, detailing the total square feet of project and site, location, current status and client’s name. Include representative photographs of listed projects.

E. URBAN RENEWAL SPONSOR MINIMUM QUALIFICATIONS: Provide information to address developer qualifications:
o Financial status and ability of developer to successfully undertake the proposed project;
o Legal qualification to operate in the State of New York and to enter into contracts with regard to disposition, use, and development of land; and
o Reputation and proof of fair, reputable, and ethical business practices and record devoid of convictions. In addition, provide a list of all properties owned by the Developer for analysis as to compliance with all applicable local laws and regulations, consent agreements, orders of the Director of Code Enforcement, and current status on all taxes, assessments, fees, and penalties due the City. Properties owned by Developer shall include any property for which a Developer, or their partners has an ownership interest of 20% or more. Partners shall include any partners owning 20% or more of the project LLC, Corporation, or project equity.

F. MARKETING: Indicate the approach the developer views as a viable marketing plan for the proposed project and provide examples of how the proposed development will be marketed. Describe briefly the target tenants/purchasers for residential, commercial and other portions of the project.

G. MANAGEMENT: Indicate how the completed project will be managed. Describe if management will be in-house or contracted, and any local connections. Explain the proposed management role, if any, for the City of Ithaca and/or IURA.

H. CONCEPTUAL PROJECT PLAN & DESIGN CONCEPT: The project plan and design concept should include a narrative accompanied by a site plan and graphics, which convey the vision and key identity of the proposed project. The plan should identify the portion of the site sought to be acquired, and existing structures to be retained or rehabilitated. It should also include the location and uses of the proposed structure(s), including basic summary of the number of units by size and use, including dimensions and floor area for commercial tenants. Also include parking location and space count, including the estimated number of parking spaces dedicated for tenant/purchaser use. Also include any areas of the project that invite public access and use. In addition, please complete the attached housing profile form.

Include at least one conceptual elevation and any information about the proposed project quality with regard to design, materials, or energy efficiency. Please indicate any other information the Developer would be seeking from the City or IURA to implement the project.

I. FINANCING PLAN: Provide an estimate of development costs and an outline of the financing strategy. This should include a pro-forma with estimated revenues and expenses, a sources and uses of funds, including estimated debt and equity, and identify key assumptions in the financial analysis. In addition, provide an estimate of pre-development costs prior to issuance of a Building Permit.

Developer should also provide and outline the economic incentives which the developer expects to apply for, if any, and any assumed public subsidies.

J. FINANCIAL CAPACITY: Provide evidence the developer has the ability to secure the funds required to construct the proposed development. Evidence provided should demonstrate the proposer has sufficient uncommitted funds to complete project pre-development and access to funds to satisfy the equity obligation for the development of the project.

K. PURCHASE PRICE, INCENTIVES, & SCHEDULE: Provide the purchase price the developer wishes to acquire the Site for. If the purchase price is below a reasonable fair-market value, indicate how the proposed purchase price is necessary for financial feasibility of the project, including the specific metrics and rates utilized to establish financial feasibility.

The developer should also provide a preliminary schedule for the negotiations, planning and design, entitlements and commencement and completion of construction for the finished project. The schedule should recognize the time involved in finalizing the development agreements with Agency.

L. SPECIFIC CONCERNS: Developer shall include the identification of any existing conditions, easements, land use regulations, legal agreements, or development objectives that the developer sees as problematic, and reasons why. Whenever possible, developer shall include examples of how these concerns may be resolved.

M. COMMUNITY BENEFIT IMPACT STATEMENT: Include estimated number of housing units created, including number available to households earning no more than 100% of AMI, projected full-time equivalent of permanent jobs, tax revenue, public parking spaces, any subsidy to facilitate a conference center, public open space, energy performance, and other community benefits that advance adopted plans of the community.

N. APPLICATION FEE: $500 application fee payable to “Ithaca Urban Renewal Agency.”

Miscellaneous:
SITE TOUR & MEETING:
1:00 PM, Tuesday, December 12, 2017
Council Chambers, Third Floor, City Hall, 108 E. Green Street
Related Documents:
116-128 E. Green St. - Acquisition Map (4/28/06)
116-128 E. Green St. - Corrective Deed - S. Goldberg (8/31/95)
116-128 E. Green St. - Deed - IURA-G&M Associates (12/3/80)
116-128 E. Green St. - Deed - IURA-UDC (2/26/76)
116-128 E. Green St. - Deed - S. Goldberg (12/17/96)
116-128 E. Green St. - Deed - S. Goldberg (3/16/95)
116-128 E. Green St. - Indenture Deed - IURA (7/20/77)
116-128 E. Green St. - Letter - Cinemapolis Lease Commencement Date (4/24/09)
116-128 E. Green St. - Movie Theater Executed Lease (7/24/07)
116-128 E. Green St. - Movie Theater Lease Agreement (7/16/07)
116-128 E. Green St. - Notice of Pendency - Acquisition (5/12/06)
116-128 E. Green St. - Stipulation & Order of Condemnation (5/10/06)
Downtown Residential Analysis - Danter Company (9/1/16)
Easement for Commons Buildings - City Hall Parking Lot (5/12/73)
Green St. Garage - Access & Parking Permit Agreement (10/29/80)
Green St. Garage - Agreement - CDC Ithaca, Inc.-NYS Urban Development (2/26/76)
Green St. Garage - Agreement (North-South Svce. Corridor) - TTH Associates (3/3/11)
Green St. Garage - Amendment to Land Disposition & Transfer Agreements - CDC Ithaca, Inc.-UDC (2/26/76)
Green St. Garage - Boundary Line Agreement (Air Rights) - East Section (4/16/09)
Green St. Garage - Center Ithaca Egress Easement Agreement (10/12/06)
Green St. Garage - Common Council Minutes - Approve Boundary Line Air Rights Agreement (4/1/09)
Green St. Garage - Common Council Resolutions - Approve Transfer to IURA (10/18/17)
Green St. Garage - Deed - CDC Ithaca, Inc. (4/19/74)
Green St. Garage - Ithaca CBD Project 1974 - Site Map: Level 1
Green St. Garage - Ithaca CBD Project 1974 - Site Map: Level 2
Green St. Garage - Ithaca CBD Project 1974 - Site Map: Level 3
Green St. Garage - Ithaca CBD Project 1974 - Site Map: Rothschild Building
Green St. Garage - IURA Resolution - Approve Transfer to IURA (10/26/17)
Green St. Garage - Leasehold Mortgage - M&T Bank (12/1/03)
Green St. Garage - Non-Exclusive Assignment of Lease - City of Ithaca-UDC (2/26/76)
Green St. Garage - Non-Exclusive Assignment of Lease - City of Ithaca-UDC (2/26/76)
Green St. Garage - Option & Purchase Agreement - Hotel Ithaca (Marriott) (12/22/14)
Green St. Garage - Parking Agreement - Hotel Ithaca (Marriott) (10/24/14)
Green St. Garage - Site Plan (1/28/14)
Green St. Garage Redevelopment - Rent & Income Limit Calculator - Novogradac & Co.
Housing Needs Assessment- Executive Summary - Tompkins County (2016)
Housing Strategy - Tompkins County (6/29/17)
Industrial Development Agency - Application for Incentives (Preamble)
Phase I Environmental Site Assessment - Cayuga Green Project (10/4/02)
Structural Study - Green St. Garage (East-West End) - Stantec (12/7/16)
Vertical Expansion Capacity - Green St. Garage - Hunt Engineers (4/24/06)
Green St. Garage Redevelopment - IURA RFP (11/22/17)
Green St. Garage RFP - IURA Sponsor Application Form (11/22/17) (FILLABLE)
RFP - Green St. Garage Redevelopment: Housing Profile Form (11/22/17)
Green St. Garage Redevelopment Parcel
Downtown Design Guidelines (Aug. 2017)
2017 Tax Assessment Property Description - 120 E. Green St. (Cinema Lease Parcel)
2017 Tax Assessment Property Description - 120 E. Green St. (Parking Garage)
Ithaca Conference Center Market & Feasibility Study (4/14/17)
Green St. Garage Redevelopment RFP: For-Sale Housing Profile Form (11/22/17)

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