Statement of Need

As part of our efforts to draw opportunity to downtown Akron, METRO is partnering with the City of Akron and other community partners to study the potential for Transit-Oriented Development near areas of robust transit service in Akron. The overall goal in studying the market potential in this area is to use proximity to transit as a conduit to creating opportunity for quality living-wage jobs in Akron, thus reducing the transportation barriers to prospective workers. The goal of this RFP is to find a consultant team with the expertise to help identify appropriate sites and development types for TOD.

Scope of Work

The proposing team should address how all of the following items will be addressed and how these items will be included in a professional, well-managed project scope.

1. Commercial Property Due Diligence/Condition Report
   On three to five (3 to 5) sites including publicly-owned properties in targeted Opportunity Zones in the City of Akron (shown in the map below), perform Due Diligence investigation up to and including at least the following:
   1. Highest/Best Use analysis for the property with specific attention to Transit-Oriented and Transit-Supportive development
   2. Phase I environmental assessment, property history assessment and (when necessary) title search
   3. Property Boundary Survey
   4. Zoning/Land Use analysis to understand development potential and any potential changes or amendments to existing zoning that may be required.
2. Perform Market Analysis of Live/Work/Play Development Opportunities for identified sites
   Evaluate the feasibility and cost/community benefit of a wide range of equitable uses that provide jobs and support job growth for neighboring areas including (but not limited to)
   1. Daycare/Preschool
   2. Alternative Schooling/Apprenticeship programs
   3. Modern, Adaptive Office
   4. Retail
   5. Teleworking/Flex Office Area
   6. Incubator or Smart Manufacturing Space
   7. Affordable and Market-Rate Housing aimed at stabilizing rent insecurity
   8. Connected Community Spaces/Senior Services
   9. Health supportive facilities
3. Prepare Preliminary/Conceptual Site Plan including timeline and estimated costs
   As part of evaluating the feasibility of a development on selected sites, the consultant will also provide a high-level site development plan to include (at minimum) the following tasks
   1. Identify best mix of uses and percentage of developable space dedicated to each use;
   2. Develop preliminary site development plan;
   3. Identify necessary steps to prepare land for development including items such as additional acquisitions or zoning changes;
   4. Evaluate necessary infrastructure needs including supportive enhancements for multimodal connections with transit facilities, neighboring communities, businesses and community resources; and
   5. Provide high-level budget for proposed development(s).
4. Identify creative and achievable sources of Transit-Oriented Development funding
   Consultant team will evaluate and determine the opportunity to incorporate funding from a wide range of federal, state and local funding resources for TOD as well as alternative funding sources such as foundations, CDFI's or other charitable organizations. The consultant will also support the application process for such funding and provide METRO with a roadmap for aligning resources to fund a potential project. An evaluation of project financing options will at a minimum include:
   1. Full Analysis of Value Capture options that can be leveraged through FTA Joint Development with Public and Private Partnerships such as
      • Opportunity Zone Tax Incentives
      • Tax-Increment Financing
      • Tax Abatements
      • Special Improvement or Business Assessment Districts
      • Land Lease or Percentage Rent
      • Private/public grants and low-interest loans
   2. Cost-Benefit Analysis of proposed public investment
   3. High-level pro forma analysis showing probable return on investment over life of project
5. Maintain an organized project schedule and lead ongoing partner conversations aimed at bringing resources together to support TOD including
   1. Weekly project team updates
   2. Bi-Weekly Key Partner meetings
   3. At least two and up to five community update/open houses to enhance the understanding of the economic impact of transit-oriented development
   4. Monthly Written Updates to share with stakeholders and supporters

Deliverables

At a minimum, the consultant's final report should include:

• Ranking of evaluated properties by potential implementation and suggested timeline along with an identification of issues that may need to be resolved before moving forward;
• Key mix of uses to support development on identified sites;
• Matrix of probable funding opportunities to support development strategy, including key partnerships to leverage these funds;
• Preliminary/Conceptual Development Plan including phasing, high-level estimates and project timelines; and
• Presentations and supporting materials for the community updates/open houses in Task E.

Additionally, the consultant will be asked to support the application process for identified funding sources. This support will at minimum require providing targeted narratives, preliminary project budgets and estimated timelines.

The full RFP including Evaluation Criteria are available at https://www.akronmetro.org/metro-financial-reports.aspx

Deadline is 4:00 pm (EST) January 14, 2021