Project Packaging/Developer Solicitation

Thomas Point Associates does developer solicitation work solely for public sector and non-profit clients.  We have expertise in the development process and in development financing with many years of practical experience in crafting the right program and selecting and negotiating the right development proposal for communities. We approach our work with the strongest emphasis on our clients’ needs to demonstrate success with implementation.

Project Solicitation can be viewed as a three-step process— marketing, evaluating, and negotiating. 

Marketing

 Prepare Development Packaging

 Thomas Point Associates will work with clients to prepare the documentation to describe the project, including the following components:

 ·        Schedule;

·        Building conditions;

·        Market information;

·        Proposal expectations and evaluation factors;

·        Terms of disposition;

·        Other factors appropriate to the project.   

We outline each of these matters in writing, with appropriate graphics, and review them with the client before finalizing the prospectus documentation. 
 

Create List of Targeted Developers and Interested Parties

 We create a screened list of development companies and specific contacts that could have an interest in the project.  The list includes individual names, titles, and complete addresses and fax numbers of interested and capable developers and development firms that should be contacted about the project.

The sources include professional development organizations and associations such as the Urban Land Institute, the developer database that we maintain, the client's contact list and other sources tailored to the project itself. 

Distribute Development Packages and Respond to Questions

 We work with clients to deliver the solicitation package to capable developers who could have an interest in pursuing the opportunity. In parallel, we make calls to the top development entities to make sure that they anticipate the package and are prepared to give it high-level attention.

Evaluating

Advise on Developer Evaluation

 We work with the client to evaluate all proposals, using a matrix evaluation format to address, in specific terms, both the quantitative and qualitative features of every proposal, including the following: 

·        Proposed actions and responsibilities of each party in the implementation process;

·        Financial return to the client and developer (return should be realistic);

·        Schedule to completion of project development;

·        Bonds, guarantees, certificates of completion; and

·        Binding nature of proposed agreements.   

We put all proposals in a common evaluation framework, to the maximum extent possible, recognizing that there will always be differences and unique features that cannot be quantified.  It is usually possible to achieve a consistent bottom-line comparison of proposals that will put them on a comparable basis, at least in principal respects. 

At this point, we typically discuss various reference projects to determine the developer’s accomplishment and the nature of the relationships created.

 We may advise a feedback process at this step, getting back to selected developers with questions that require specific answers on points that need clarification.  We advise our client on this documentation and conversations that further define critical points.

Negotiating

Advise on Developer Evaluation

We work with clients to identify the best development proposal.  This may involve interviews, conference calls, directed questions and other techniques, all intended to make the top proposals highly competitive.  At this point we may propose visits to selected projects to verify applicability and accomplishment.   

The task enables us to clarify issues that are unclear in any particular submission and ensure that we identify the developer who has the best experience for our project.  Once the top proposal is selected, we assist in defining the terms to be negotiated, just prior to confirmation of the selected developer. 

 Negotiate Development Issues

 We will work with the client to identify the critical issues in the proposals--financial, programmatic, operational, and other.  We determine the client’s best position on each of those issues and then work with the proposal to define a negotiating position that will enable both sides to achieve their objectives.  The nature of the negotiating process will depend on the state of the proposal and related factors at that time.

 Prepare Development Agreements 

We work with the client and legal counsel, to define the key issues and put them in clear written terms.  We have developed agreements in the past on sale and lease terms associated with development properties and often use these as models for other projects.

We also  take a lead role in advising on the terms of the agreement and focusing on certain issues where we can use financial analysis to determine implications to the client as a result of various terms of agreement.  We adjust our advisory role at this point to work with the team, taking the lead as needed to reach agreements. 

In conclusion, while we have a clear sense of how a project will move ahead, we also expect to adjust along the way and refine our program to meet issues and opportunities as they inevitably arise.

Specific Project Packaging/Developer Solicitation Projects: