Title
Update on Request for Qualifications for Future Affordable Housing Development Utilizing Public Private Partnership with the McKinney Housing Finance Corporation
Summary
COUNCIL GOAL: Financially Sound Government
4A: Provide funding and organizational framework to ensure continual economic improvements
MEETING DATE: January 15, 2019
DEPARTMENT: Housing and Community Development
CONTACT: Cristel Todd, Affordable Housing Administrator
RECOMMENDED CITY COUNCIL ACTION:
* N/A
ITEM SUMMARY:
* On behalf of the MHFC, the City issued a request for qualifications (18-28RFQ) seeking an experienced real estate developer (the "Co-Developer") to maximize the resources available for affordable housing purposes within the City of McKinney.
* RFQ was issued on October 14, 2018.
o Advertised in McKinney Courier Gazette
o Posted on McKinney TV
o 298 matching eBid Supplier Notifications
* In response to all notices published, five (5) submissions were received on November 1, 2018.
* An evaluation team comprised of City staff, and MHFC board members reviewed and ranked the submissions based on the following evaluation criteria listed within the RFQ:
Evaluation Factors
Points
Development Team
15
Development Experience
15
Project Specific Experience
15
Financing Experience
15
Financing Strategy
15
Financing Structure and Share of Development Fee and Cash Flow|1010|Financial Responsibility
10
References
10
* Based on the evaluation results, the City and MHFC has deemed The NRP Group, LLC as the most qualified firm for this project.
BACKGROUND INFORMATION:
* On September 18, 2017, City Council discussed the ability of the McKinney Housing Finance Corporation to enter into co-developer agreements with private affordable housing developers.
* City Council supported a competitive Request For Qualifications (RFQ) process for the selection of the private developer.
* On September 29, 2017, the MHFC recommended moving forward with the competitive RFQ process for sel...
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