Real Estate Commercial Advisory RFP Information session 11/8/2017
RFP Scope Retainer RFP for commercial real estate advisory services Scope of services is defined as follows: - Valuation: determine values to support acquisitions, dispositions, lease negotiations and rent resets - Strategic planning: review and comment upon asset-specific management plans to evaluate asset and property management performance, recommendations of potential transactions, advise of the use of capital markets to finance improvements - Site selection services: provide a competitive picture of NYCEDC s assets as potential locations for industrial tenants - Brokerage/negotiation - Reports/deliverables o o o o Quarterly market conditions reports A listing of all transactions completed Assets management plans, marketing reports, and other documents such as letters of intent with potential tenants Additional presentations as required (e.g. presentations to public, audiences, senior NYCEDC leadership) Commercial Real Estate Advisory RFP 2
NYCEDC Portfolio +63M square feet of conventional properties and non-traditional assets - Commercial real estate properties retail, mixed use/commercial, industrial - Transportation - Critical infrastructure - Energy assets Brooklyn Army Terminal New Essex Street Market NYCEDC Asset Portfolio 3 Commercial Real Estate Advisory RFP
Selection criteria 20% Consultant team s experience Quality of the consultant s management, reputation, and references Favorable history, if any, in contracting with the City and/or NYCEDC 20% Quality of the proposal Content of the proposal demonstrating full understanding the scope of services 25% Fee and cost schedules 20% Quality of the consultant team 15% Participation by minority and women-owned business M/WBE participation goal:10% to 20%
M/WBE Goals and M/WBE Narrative M/WBE Program - M/WBE Program established in NYC Administrative Code, LL129 of 2005 and LL1 of 2013 - M/WBEs must be certified by NYC Dept. of Small Business Services M/WBE Participation Goal for RFP: 10-20% (as percentage of total contract value) Respondents must submit Narrative demonstrating how they will meet the M/WBE Participation Goal. The Narrative should: - Speak in detail to respondent s commitment to ensuring proposed level of M/WBE participation - Outline specific strategies to drive participation and methods for ensuring accountability - Include any other info that demonstrates the likelihood that the proposed M/WBE Participation Goal will be met or exceeded o List of City-certified M/WBEs respondent plans to work with and a description of the activities that would be subcontracted to these firms Plan will be rated and factor into selection - Respondents submitting proposals with a Participation Goal lower than the lower bound of the range shall receive a score of zero (0) for this selection criteria - The higher bound represents the optimum participation goal. Proposed Participation Goals that exceed this higher bound are welcome but do not receive extra points - 15% of selection criteria corresponds to the quality of the M/WBE Narrative Final M/WBE Goals will be incorporated into the retainer Contract - Selected Respondents will be required to meet the stated M/WBE goals or demonstrate good faith efforts 5
Meeting M/WBE Goals Identifying M/WBE Partners Use SBS directories to find M/WBEs in a specific field Check out the Interested Subcontractor and Supplier List for this RFP Network at this info session NYCEDC can assist in identifying M/WBEs Refer to good faith efforts section in draft contract for more ideas Edit Footer Here 6
Timeline For Discussion Purposes Only 2017 2018 October November December January February RFP release: 10/16/2017 Info session: 11/8/2017 Q&A Deadline: 11/10/2017 at 5:00pm RFP Submissions Due: 12/1/2017 at 4.00pm Respondent Evaluation Contract Negotiation Anticipated Contract Execution date : 2/28/2017 Question Response: 11/17/2017 at 5.00pm
Q&A Commercial Real Estate Advisory RFP 8