Real Estate Market Analysis Services RFQ
The Cleveland-Cuyahoga County Port Authority (the "Port") invites written responses from qualified firms interested in providing a full range of real estate financial advisory services (the “Advisor”) to assist the Port in maximizing the value of current property in order to meet long-term capital financing needs as outlined.
The Port will select a firm to be available to serve as Advisor to the Port in connection with the development and implementation of strategies to maximize value from various Port assets, including Port-owned or leased waterfront real estate to assist in the development of new Port infrastructure, (collectively, the “Assets”).
The Port is requesting that the prospective Advisor provided detailed information concerning opportunities for asset monetization and project financial analysis and feasibility. It is imperative that the candidates show in detail that they have advised on major project financings and that their firm will provide the Port with independent, objective and professional service.
Real Estate Market Analysis Services
The Cleveland-Cuyahoga County Port Authority is seeking qualified professionals to work with the Port Authority and City of Cleveland to develop a comprehensive master plan for an iconic and transformational redevelopment strategy for a portion of Cleveland’s downtown lakefront.
Submitters must have similar waterfront and industrial reuse experience that resulted in catalytic redevelopment with a particular expertise in sustainable design and urban planning and development. Submitters must demonstrate a proven ability to develop a phased implementation plan, taking into account land and infrastructure requirements to fit anticipated market conditions.
Planning RFQ
FAQs
To discuss financing for your project, contact the experts in Port Real Estate.
Helpful Links:
FAQs:
Q: Is the RFQ process an open or closed process?
A: Open
Q: Will there be a pre-proposal meeting for this assignment?
A: No
Q: Are there any target goals for M/WBE (Minority and women owned business enterprises) participation on the consultant team for this assignment?
A: There are no targets but it is strongly encouraged to have significant and meaningful participation.
Q: Since the Port Authority will separately select a financial advisor, why would the proposing applicant need to “demonstrate experience in performing economic analysis, ROI, Cost Benefit, and other financial analysis”
A: On Page 9 of the RFQ, the first bullet indicates the need to show "Development experience in performing economic analysis, ROI, Cost Benefit and other financial analysis in evaluating the development and phasing of land".
Q: Are you asking that this scope of service be provided by the master planning team, or that we need to show we have worked collaboratively with client partners that have brought this expertise to the table?
A: While the Port will be separately selecting a financial advisor, the two firms are going to have to work very closely when it comes to the phasing aspect of the development and therefore we feel it a great benefit to have direct experience in the financial analysis function.
Q: Who will comprise the client working group for this assignment?
A: The Port Authority with heavy City of Cleveland involvement
Q: Will the client working group be the same as the selection committee?
A: This client group will be leading the selection committee with involvement from other stakeholders.
Q: There was an article in the news paper a couple of weeks back that indicated the budget for this effort was approximately $400,000, is this an accurate budget?
A: There is no set budget yet, we are requesting cost proposals in the RFQ. The figure you read in the Plain Dealer was to give our board an idea of what this might cost.
Q: You have asked for a fee proposal, do you expect the fee proposal to include level of effort and does the Port have a preference to work under an hourly or lump sum basis?
A: Lump Sum or not to exceed amount would be preferable.
Q:Is it possible to meet with you and others, review the site together and discuss the project further in the near future?
A: No, we will not be meeting with firms to discuss the RFQ before the submission deadline.
Q: Does the port authority have any budget for either soft or hard costs on the project that are projected at this point?
A: No
Q: Is there a selection committee that will be making or reviewing the RFQ and if so is that list available for review?
A: Yes, there is a selection Committee, The Port will be leading the selection committee with involvement from other stakeholders, the list of member of that committee is not available.
Q: Does the selected firm for this RFQ have the ability to continue into detailed design or will that phase of design require a separate RFQ process?
A:Yet to be Determined.
Q. It is my understanding that GSA form 254 and 255 have been updated and consolidated in to GSA standard form 330. Will form 330 be accepted as a replacement for forms 254 and 255?
A. Either the GSA SF 330 or 254 and 255 will be accepted.
Q. is a fee proposal due as part of the submission of this RFQ?
A. Yes, we are looking for a fee proposal at this time.
Q. Does the Port Authority seek to develop a different land plan than that detailed in the 2004 Cleveland Waterfront District Plan? Or is the purpose to refine what was in the plan?
A. The 2004 Cleveland Waterfront District Plan is a highly conceptual plan. What we, along with the City, are looking to accomplish with this planning endeavor is to drill down further to create a plan that is based on market analysis with the end result being a detailed implementation plan.
Q. Will the Financial Advisor be selected separately from this RFQ process?
A. Yes, we anticipate the RFQ for the Financial Advisor to be released in early January. Please check our website frequently as it will be posted there when released.
Q. Do you anticipate a bulk of the market and financial analysis to be carried out by the financial advisor?
A. Yes
|
