REQUESTFORQUALIFICATI ONS Building a Tactical Revitalization ...

SCOPE OF SERVICES
• Urban designs that can conjure powerful before/after comparisons
• Itemize public benefits (economic and fiscal impacts analysis—optional service)
• Showcase higher density mixed-use with focus on early absorption such as workforce housing and special retail
destination niche concepts
• Schematic Development Pro Formas (optional service) with possible public incentive alternatives from
infrastructure to joint venture participation
Potential Optional Deliverables
• Pro forma analysis of the redevelopment Program (AKRF)
• Fiscal impact/tax generation analysis (AKRF)
2. TARGETED ATTRACTION AND RETENTION STRATEGIES
Halcyon together with the AKRF team will prepare attraction and retention strategies including recommendations to
assist in repositioning assets to attract businesses, employees, and residents. Our findings from Tasks 5.1 and 5.2 (Reverse
Engineering for New Employment Location Criteria and Shifting Barriers to Entry) will in particular provide powerful
insights to develop specific strategies relevant to attract the target companies and institutions that will be key to downtown
Albany’s revitalization. We will also identify the “Movers & Shakers”—the key stakeholders, those who now have/could
have real impact on Albany. AKRF and Halcyon will compile a recommended incentives “War Chest” based on research
and which will be additive to the financial assistance options that Next Street will prepare in Task 3 below.
Potential Optional Deliverables
• Business attraction and retention plan
• Talent attraction plan
• Retail recruitment and tenanting strategy
• Resident retention and attraction plan
3. FINANCIAL ASSISTANCE OPTIONS
Next Street develops customized, flexible and affordable financing solutions that combine public and private capital
sources. They specialize in bringing financing solutions for businesses and projects that combine multiple sources of capital,
depending on the size and need of each opportunity and work directly with institutional lenders and investors, private
equity and debt providers, community and social based capital providers, government funding programs, and corporate/
civic capital providers.
In the development of Funding & Financing Strategies, key steps include:
• Identifying priority projects across a range of community and economic development objectives
• Exploring various capital structure options for implementation and execution
• Providing a set of financing options for “a short list” of recommended projects that may include private equity,
hard debt, tax credit equity (e.g., NMTC, HTC), EB-5, bond financing or other low-cost sources
• Defining key implementation requirements and next steps, such as:
▶ ▶“Packaging” the financial story
▶▶Identifying and securing lenders, investors, and other capital sources for the transaction
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Proposal For Capitalize Albany Corporation
RFP for Building a Tactical Revitalization Plan for Downtown Albany, NY