Title:فرآیندهای RFP توسعه دهندگان موفق: بایدها و نبایدها

۲۰۱۱-۰۹-۱۶ ارائه دهنده: Rob Hunden این وب‌کست فقط برای مشاهده در دسترس است، برای اعتبارات AICP CM قابل استفاده نیست. بخش دولتی سابقه متفاوتی در جذب توسعه دهندگان واجد شرایط برای تامین مالی و ساخت پروژه های خوب دارد. از مطالعات قبل از RFP گرفته تا خود فرآیند RFP، استراتژی هایی را خواهید آموخت که شانس موفقیت شما را در اولین بار به حداکثر می رساند. شما دیدگاه جامعه توسعه دهندگان، بانکداران آنها و دقت لازم در اجرای یک پروژه و همچنین بایدها و نبایدهای جذب توسعه دهنده به پروژه خود را درک خواهید کرد.

قسمتي از متن فيلم: Ode hi everyone my name is Brittany Kavinsky I just want to welcome everyone it is now 1 p.m. so we will begin our presentation shortly today on September 16 we will have our presentation on success successful developer RFP processes the do’s and don’ts given by

Rob hundin see if I can advance okay for help during today’s webcast please feel free to type your questions in the chat box found in the webinar tool bar to the right of your screen or call one eight hundred 263 6317 for content questions please feel free to type those in the

Questions box and we will be able to answer those at the end of the presentation during the question-and-answer session here is a list of the sponsoring chapters divisions and universities I would like to thank all the participating chapters divisions and universities for making these webcasts possible also the economic development division for

Hosting today’s webinar as you can see we have a couple webcast coming up in the next few months and to register for these upcoming webcasts please visit www / webcast and register for your webcast of choice you can now follow us on twitter at planning webcasts to receive up-to-date information on the planning

Webcast series sponsored by chapters divisions and universities to log your CM credits for attending today’s webcast please go to ww planning org slash CM select today’s date which is Friday September 16 and then select today’s webcast successful developer RFP processes the do’s and don’ts this webcast is available for one and a half

Cm credits we are recording today’s webcast and it will be available along with a six slide per page PDF of the presentation at wwu ta PA org slash webcast archive at this time I would like to introduce our speaker for today Rob hunden Rob hundun the president of is HC and offers

Extensive experience in managing the feasibility and implementation of major real estate projects as well as organizational development essential since launching hunden strategic partners he has been a sought-after consultant for dozens of hotel convention mixed-use entertainment and retail projects as well as other tourism and economic development projects and

Master plans he also has experienced moving organizations to a position of focus and action through strategic planning initiatives prior to starting the firm he served as vice president of CH Johnson consulting in Chicago there he conducted nearly 100 destination development assignments for the firm specializing in hotels conference centers sports urban entertainment

Retail districts and Convention Center developments he also managed much of the firm’s work on performing arts and tourism projects during his five-year tenure some notable projects include the new Omni convention hotel in Fort Worth the Erie bayfront Convention Center and Sheraton arena projects in Kansas City and Albuquerque fourth street live in

Louisville the Kansas City Power and Light District and the Nassau Coliseum redevelopment prior to joining ch JC he worked for several years on real estate finance in transaction activity for a number of projects at LAN lar associates and grubb and ellis which person purchased land land are in 2000 in this

Capacity mr. hunden sought financing for hotels and other real estate projects across North America giving him a real-world perspective on how banks and other financial players analyze various real estate developments he also conducted transaction work involving hotel retail apartment and industrial assets his public sector experience began at the Indianapolis bonding which

Is Indianapolis ‘as an economic development finance authority there he worked the mayor’s office in the board bank on the indiana convention center expansion financing for the RCA Dome renovation and canseco field house construction manage the pre development process for the Indianapolis downtown Marriott convention hotel managed the redevelopment strategy for Union Station

And glendale mall among many other community development projects including retail entertainment and special events mr. hundun has written articles on economic development topics including on the subject of convention headquarter hotels for the economic development journal and taught destination development and tourism courses at Kendall College he has worked

He has been active in special event and nonprofit work serving on the boards of the mirror at center for the performing arts he is currently board president for imagination theater in Chicago and is involved in the arts and business council of Chicago and served on the board of Chicago games inc from two

Thousand to two thousand seven having conducted the feasibility study for the city of Chicago for the Chicago Fashion Incubator he also serves on the board of the new prop new nonprofit Chicago fashion Development Inc he has participated in bids for national sporting and political events in indianapolis in chicago and has been a

Volunteer for events such as the RCA tennis championships mr. henan is a member of the international society of hospitality consultants the Urban Land Institute the international economic development council the international Downtown Association the Congress for New Urbanism the International City County Management Association and the government finance Officers Association

He has been a speaker and conducted panel discussion that I EDC’s if you build it will they come conferences in Kansas City Tempe Arizona and Tampa Florida as well as taught courses for I EDC’s professional development courses in columbus ohio and san antonio he will speak on financing public-private

Developments at the 2008 cutting edge public-private partnerships and was all welcome Rob hundun well good morning everyone hope you’re doing well normally I would ask how are you doing but since I can’t hear you I’ll just assume that everyone’s having a fantastic friday is are you saying my screen not yet um go

Ahead and click show my screen all right here we go how about now yep we’re good to go okay great okay everybody well um welcome and thanks so much for having me that was a very long introduction and I apologize that you had to read through

All that and listen to it but I guess the big picture is uh I’ve been on both sides of the look private in kind of the consultant side so I guess really three sides of the RFP process and so this is something that we honestly see that the public

Sector could do a lot better job in terms of reaching their goals if they understood kind of how the private sector views RFQs and rfps and kind of what it takes to get a good crop of responses so just as a as an overview it’s it’s something where we do see our

Clients need a lot of help with this and they don’t usually realize they know it that they need that help until after they have maybe failed to achieve their goals a couple of times through maybe not as well written rfps or our cues so today I think it’s important to kind of

Understand what’s important in a process in order to get a development so let’s first I’ll see if I can advance the slide hold on some reason it’s not letting me vent here we go all right so as you know developer selection is is often is initiated through either a

Request for qualifications or request for proposal and will kind of get into what the differences are here in a minute the purpose of the RFQ our RFP is a tool to achieve a public goal it’s a means of introducing competition into a redevelopment project to ensure qualify development team is selected and it’s

Marketing tool to attract private development so really um the second two are the most important you’ve identified something that you want to have built for you or maybe it’s an RFQ or an RFP to to hire a consultant or an architect or something like that it doesn’t always

Have to be to go out and get a developer but what you’re really trying to do is instead of just hand picking someone who happens to be local you’re going out to the marketplace and really trying to find a good match between your project and a service provider out there that

Can they can actually produce your desired result and by putting competition into the process then you’re more likely to get a more more for your money and obviously a competitive bid situation is is always preferred and we see that even in the consulting realm as well and of course it’s a marketing tool

So we like to think it’s like these these processes are a little bit like match com between the private and public sector but the process and the integrity the process is the really one of the most important things and so what I hope you will leave with today is an

Understanding of how to make a process full of integrity so that you have trust because if the private sector does not believe that the public sector either knows what they’re doing or a serious about what they’re doing or is doing it all aboveboard there’s not some sort of

Inside job going on then they will stay away so we’re we’re going to kind of talk through that some of the most important things that you’re going to do to to achieve success are going to be taken care of before you even issue the RFQ or the RFP and those things are you

Really need to know what you’re getting into so you want to gain let’s say you want to build you want to have someone build a mixed-use project for you that’s going to have some public financing some private financing you want to first of all make sure you have political

Consensus on the project concept and you want to understand what the range of possible incentives are so we see a lot of times a mistake that is made is that community say oh we want a hotel or we want an arena or whatever the case may be and they haven’t done any studies

They just think it’s a really good idea and it’s what their mayor wants or it’s what you know that the head of the economic development wants or planning or whatever and so they issue an RFP without having done a study to understand really what is the market

Situation if you do that the typically it’s pretty evident via what you’ve written in your RFQ RFP if the development community does not believe that you understand what you’re getting yourself into they’re much less likely to respond so we would say if you’re going to go out for whatever the

Development is have a feasibility study done first by your own third party consultant and in fact those are the kinds of things that we do every day and so we see this process and a lot of times we get called into duty studies after a failed a failed version of the

RFQ goes out or RFP goes out and they didn’t get any responses so it’s important to know what you’re getting yourself into so understand the project feasibility first have the market numbers run have the financial feasibility run because for example if something is not feasible to be built by

The private sector ie there’s a gap in financing you’re going to want to know that and you’re going to want to know what you what the public’s participation level is about to be one of the things that turns off developers is if you go out for development and it’s very clear

That there needs to be a public subsidy but you haven’t suggested that you realize that there will be or how much it will be so again it seems like a big fishing expedition so you don’t want to do that you want to know and that’s why the political buy-in is so critical we

We like to tell our clients make sure you know what the tools are in your toolbox to fill these these gaps or make the process work so that so that you can communicate that through the RFQ or the RFP and get confidence from the response from the

Condens that that they know you’re an active partner because remember if something was feasible for the private sector to do without public support they probably would have already done it those kinds of developments get built all the time Starbucks and McDonald’s and and limited service hotels on the sides of highways and industrial

Buildings with tenants those things get built all the time without public support but the kinds of projects that often our clients are going up or and that planners and mayor’s want to have done are things that take a little bit of a public support they take a little

Bit of magic they take a lot of work and a lot of effort and time so the end developers know that and they’re not they’ve most of these developers specialize in these kinds of things these public/private deals and so I just can’t underscore enough the importance of having understood your project and

What you’re going for in advance we also have clients that will go out for a just a big picture development concept maybe not even a concept but they’ll go out for a developer for a large swath of land without any specific vision that can also be a problem because there’s

Not that specificity so again where we say specificity is key it’s really important to know what you are seeking if it’s going to be very random and you’re saying hey we want to we want a developer to develop these ten acres so these 25 acres of these five acres

Whatever the site size is if everybody comes back with apples oranges and bananas that’s going to be very hard for you to compare and choose the right developer so then you’re going to be doing it based on qualification so not having a specific vision of mine and

Then not really having any studies to back up that vision it all leads to just kind of a crap shoot and that’s exactly what you’re going to end up with so be very specific going in as to what you want to accomplish what you want to build let

The community know that you and that the developers know through the RFQ of the RFP that you’ve done your homework you understand what it’s going to cost them what it’s going to cost you and all that you don’t have to put all those details in although we do suggest that you

Attach the feasibility study because that lets them know you’re serious have an understanding of bidding law’s requirements and confidentiality that’s part of the integrity of the process one of the things that we often find is that developers will have lots of relationships with a lot of politicians

And you want to make sure that the communication is the the lines of communication are very specific between the developers and those who are going to be making the determination about process moving forward because another thing that will turn people off developers off to a project is if they

Suspect that it’s going to go to a local guy because he you know donated money to the mayor’s campaign or whatever the situation may be or some communities have a reputation or states have a reputation for only choosing firms that are from those states so if you want to

Be as open as possible be very strict in your communication language about who can talk to whom throughout the process so that you gain the confidence of those who may not otherwise participate in the process you want to make sure you know who’s in charge what the selection

Criteria are going to be and what the timeline and selection process is but you also want to have a little bit of flexibility in that timeline to make sure that if things change as they often do throughout a process that you have a little flexibility there okay what’s

Another really important thing as it relates to land you can own the land which put you in control you can seek a developer for a site not control controlled by the public or you can look for developer or development in an unspecified site again the more specificity you have the better

And most developers will not respond to a an RFQ or an RP where the city or public agency does not at least control the land they may not own it but they need to control it because then you know really if you don’t control the situation then what the developer is

Looking at their expenditure of time and effort and the likelihood that they’re going to get paid at the end of the day if they take the risk on this development if you don’t even own the land yet or control it what’s the timeline for that we have a client right

Now that was very adamant about moving forward with an offering of land and to find a developer even though they didn’t control most the site that was very difficult for us because we had to try to convince developers that they should respond to this even though the city

Didn’t control all the land so that’s it’s very difficult so we do recommend that the public sector controls the lamp or a couple ways to look at should you do an RFQ or an RFP and one of the things that just big picture that you should know is that in many states in

Order to actually convey land and to offer land you have to do an RFP and RFQ just to submit qualifications versus a proposal that’s the difference between a queue and the p um doesn’t allow you to convey that land so but typically what happens is and and the reason that the

RFQ typically perceives the RFP is because what you want to do is you want to minimize you want to maximize the opportunity and minimize the time and effort involved in the process so for the respondents and for you so the RFQ is the qualifications process that

Then narrows down to an RFP which gets much more specific and is more time consuming if you go straight to an RFP you may have a lot of respondents that are not necessarily even qualified to get to that level and so you’ve you you may turn off people who are qualified

You also may make yourself do a lot more work by having to comb through a lot of responses that you should have never had to respond to so the RFQ gets the qualifications once they’re qualified then you can narrow it down to an RFP and get more specific so let’s talk

About an RFQ request for qualification is an invitation potential developers or again if you can seeking a consultant architect whomever to just really get gets the word out gets a gets a response from groups with their qualifications which most firms whether they’re a developer or an architect or consulting

Firm or whatever the case may be most of those groups have their qualifications pretty well lined up to go and they’re going to submit those pretty easily doesn’t take a lot of time so that’s good it provides you enough information to help you choose a shortlist for

Further consideration so if you get 10 or 15 responses you know you can cast that wide net say hey this is what we’re thinking we would like to build an arena or we’d like to build a mixed-use project tell us if you are you know qualified and so once those responses

Come in you can say okay well uh who’s the most qualified out of this group we don’t want to waste anyone’s time so in in order not to have you know 10 people or 10 companies submitting an RP that will have to go through and that they’ll

Have to come an interview and all of that let’s narrow it down to a top five or six based on the those who we feel have the most qualifications for what we want to try to do the and then when you do that that actually provides more likelihood that

Those who are shortlisted will actually respond and go through the whole process we’ve had situations that we’ve seen where because they didn’t go from a large list to a short list people just said you know what it’s not worth our time it’s not worth our effort you clearly don’t know what you’re doing

You’re wasting our time and we’ve seen that too where we had to go to we submitted a proposal to a town a capital city in the southeast and they brought every single one in for an interview and it was the most expensive place to fly

To in the country I felt like was about a thousand dollars a ticket and everybody just kind of got there and was upset and then of course they cancelled the RFP process altogether after we had awful in there to interview so you want it you want to give the respondents

Confidence that they have a shot at winning so going from the wide net and the large list to shortlist is poppy is is a good idea the other thing that it allows you to do a lot of in a lot of situations in most cities there are two or three local developers or

Construction companies that seem to always have the in on things and again it’s the political connections and all those things that can occur and if you have someone that’s only built post offices or only built industrial type buildings and then all of a sudden you have a specialty development that comes

Up like say a hotel or performing arts center or a mixed-use project or whatever it is that’s very different from what the local groups are used to doing they may submit their qualifications based on their local location and their connections and all that but if they’re not qualified and

You get responses from all of those other groups outside of the community who are qualified that gives you a very clear way without having to kind of get caught in a poll litical situation of saying here are the groups that are the most qualified here are the groups that are not we’re going

To shortlist it to those groups that are most qualified so again it’s the integrity the process that and the transparency that we feel that really helps with again just to remind you if you’re going to convey property check your state’s redevelopment law to make sure you don’t need to do an RFP versus

An RFQ because in many many instances that is a critical component now when would be let’s go back one would be a time when you would only want to do a request for qualifications and not a proposal well it would be a situation where we wouldn’t necessarily recommend

It but if you have a situation where you have a site and you say we want a big kind of mixed used if we don’t know exactly what we want but we want a mix of uses or we want something like this or something like an arena in a hotel

And a grocery store if you really haven’t gotten specific and you want the developer to actually come in and do a master plan and do all the kind of visioning and specificity for you again it’s harder to get to that point but if you just say you know what we want to

Develop this area and we don’t know exactly what we want and we don’t really care we just want a few things too few key points we’d like to developer we’d like to identify those developers who really have experience in this and can come and do a master plan that really

Shows that your way back in the process and that’s okay and it makes sense then to do request for qualifications only and then on based on the best qualified developer that you go through the interviews and say okay we want to pay them a retainer or whatever sort of fee

To go through the actual master planning process the feasibility process and kind of like walk us through the whole thing most of our clients prefer to do all those things themselves up front and then go look for developer once they’ve determined what they want to build but if you want the developer

To actually kind of be your consultant through the process and figure out what to build and how to build it and draw pictures and do all those things then you can do an RFQ only okay how about a request for proposal all right so whether or not you’ve done the RFQ first

The RFP is much more specific what it usually is asking for are as many of the specifics related to a specific proposal as possible so let’s say that you want someone to come in and build a convention hotel then you’re going to ask them yet you’re going to hopefully

Show them by attaching your feasibility study that you’ve done a studies do you understand the market you understand the financials you want to know and in and hopefully you’ll say we want a hundred let’s just pick a number 175 rooms or between 150 and 200 rooms but be as

Specific as you can because then you’re going to say to them come back to us with an actual proposal of what you’re going to build what’s the brand going to be how how’s it going to look on the site what’s the cost going to be what’s the financial projection that you’ve run

Compared to what we’ve run what kind of incentives do you need all that kind of thing so you’re really getting to specific timeline budget design who’s going to be running a project who’s the owner who’s the developer who’s the brand who is the operator all those kinds of things it’s a lot of

Specificity that they have to provide in an RFP and it’s a lot more work than an RFQ and if you do in our if you don’t do in our queue process and you do maybe tip say a two-stage RP then you’ll also ask for qualifications in the RFP

Says so that’s her qualifications in you’ll ask for their specific proposal and then you have the option then of you know going through the proposals and then shortlisting from there and then doing interviews from there etc etc so you can do the qualifications in the proposal in the same package just

Remember that it is very mean you all know from your perspective if you’re the one issuing the RFP or the RFU it takes a long time to write these and make sure that they’re good and that they’re not contradictory nature that you know the dates on one page are contradictory with

The dates on another page and what you’re asking for is is it makes sense so imagine the time it takes for a developer or any other company to respond to an RFP they have to do exactly what you say in terms of you know is it going to be to side you know

Two-sided double-spaced you know recycled paper don’t use plastic do you use plastic binding you know all these things that’s just one part of it but then having the drawings done having the budgets run running the market studies all that takes a lot of time and so you

Want to make sure that you’re very specific with what you want but don’t ask for them Sun Moon and stars because you’re going to turn groups off a lot of groups will want to get to maybe the shortlist first before they invest a lot of time like running so many numbers and

Spending so much time because honestly it just is exhausting they’ve gotta you know buy plane tickets they’re going to buy data they’ve got to work with architects they’ve got it there’s just a time and a ton of time and effort and so you want your process to be as smart and

Cohesive as possible and not waste anybody’s time so see rfp include it includes what your project concept is and the background on a project kind of like how you got to this point how you look to move forward do you have a conceptual design that you’ve already done that saves them a

Little bit of work have you done a market study like we talked about that saves them a lot of time and effort if they put faith in your market study then that saves them I’ll not only time and effort but it gives them confidence a that you know what you’re doing and

Because it saves them time and effort it means that they are more likely to respond because they don’t have to run out and do all that legwork you should do you may not want to suggest the details of a deal structure but you what we often tell our clients is if you know

There’s going to be public financial participation involved then say that very specifically say we’ve done our study we know that this is going to take public participation in some form or another we have identified the following tools as possible inducements for the project those include say tax increment

Financing tax rebates tax abatements it could be it could be a direct public somebody subsidy or this the city or county or public sector may contribute the land they may contribute some public infrastructure costs they may contribute a parking garage whatever it is make a list of those possible options in the

Things that you’re sure of you can actually say we we are planning to contribute these to the project because we know it buys down the cost for the private sector we’re working with one community now Evansville Indiana that is that based on kind of a non successful first go-round at getting a convention

Hotel developed they determined that there was going to be a subsidy needed and they felt like 8 million dollars sounds about right based on what everybody’s telling us the first response so they spent a lot of time and effort getting to that number instead of doing their studies

But at least then when they went out with their second version of the RFP they could say we’ve now committed to eight million dollars for this project so then that gave some companies confidence that the city had a better handle on reality in was able to was

Able to get a couple of qualified responses the RFP should also include what’s the operational relationship and the owner and the governance relationship that you expect are you expecting to own the land and and then lease it for 99 years do you want the private sector to own and operate the

Improvements you know basically what’s the relationship that you see has there been a financial analysis done again just like the feasibility study if it’s a market and financial feasibility study all those things will be captured within that saves everybody a lot of time and effort and guessing and and what you

Could say is this is another great way to actually compare apples apples as you can say to all the respondents take the projections from our feasibility study as gospel at this point and tell us what the subsidy would need to be or the participation by the public would need

To be in order to get this project done that way everybody is taking the same inputs and you’re just comparing their their response their output from your inputs and so you can kind of put everybody on the same page that way what’s your hope for schedule for the project and the developer selection

Which are out valuation criteria what’s the selection process and again with the integrity deal you really want to make sure that their rules for the contacting the agency communication with you know politico’s and all that kind of thing is very well spelled out there’s nothing that will turn off respondents more than

Thinking that there’s inside baseball going on so we really suggest that that’s very explicit and and that you communicate that okay so really all those things will be part of an RFP so in this outline you’ll see a lot of the same things from from the last two slides and the other thing

That you can do is have a little bit of flexibility a lot of times you know the banks and consulting firms look at things very kind of straight on whereas developers can be very creative so a lot of times when we’re writing our FPS with our clients we often put in there that

We are looking for the developers to be creative saying here’s what the public agency wants out of this whole deal this whole project here are the goals if you have a better way of getting us out of this then what the specifics are that we’ve suggested you know respond to our

Specifics but also say here are some other things that we’ve done in other places or here are some other ideas that we think might work because there I continue to be surprised and you know pleasantly amazed wherever we go there always seems to be a new creative

Program out there or concept that helps to make a project work that you know people hadn’t necessarily thought about before so a certain creativity is always helpful um so just make sure that what you’ve requested in your RFP is the same as what you’ve required in their

Response a lot of times we see rfps weather again it’s for consulting services or if it’s for a developer where they they say in the first half of the document here’s what we want and then in the second half of the document they say here’s what we want in your

Proposal in those things don’t match so you really want to make sure that the things that you ask for in one part of the document match what you’ve required in the rest of the document and then tell them what the selection process is going to be again as I was just

Saying certain flexibility you want to make sure that you have the flexibility to work with creative ideas but you also want the developer to know that they can propose some creative ideas without hurting their chances so again you want them to propose kind of some by-the-book things so that everybody’s apples to

Apples but if they have some other ideas that they should suggest those and they won’t be fearful that they’re going to get kicked out of the process for doing that and just remember and this is something will reiterate over and over and we do the same thing if your

Community has you know reams of rules and regulations and proposed contracts that they put in and lots of additional forms and paperwork it’s just going to make it less likely that people are going to respond so a lot of times you don’t have control over that certain

Cities are just overly form happy and you just have to deal with it but the more streamlined you can make the process the more chance you’ll have of getting qualified developers so you want to make sure that developers submit their corporate qualifications examples of similar projects references

Understand who the people are that are going to be involved in this project you know there are a lot of big companies out there that will be a part of a team and you want to understand really who is the team itself you know you could have

A local developer that then teams would say a national hotel brand or a national architecture firm or a national real estate firm to do one small component of their project but the developer the guy or a team or woman or whatever bringing the cash to the project is that one

Person or that one group so they may try to throw around that they’ve got this national whatever firm on their team but if they’re only providing one little thing and they’re not providing the cash for the deal then you need to know that you need to understand what is the the org

Chart for this team who’s actually participating and whose capital is at risk because at the end of the day it all comes down to money especially these days if a project can’t get financed then you know you’re going to have to start from scratch again so don’t let

These big names fool you find out who the true people are involved in a project you want to have the developer right that they understand the approach and the understand and that they understand the project so and we typically do that whether we’re asking for someone to respond to an RFP or

We’re actually responding to one ourselves we kind of write back to them that we think we understand what they’re trying to achieve we understand the questions are trying to answer we understand that they’re trying to build x y and z by this time and with what

Approach and that then can you know it’s just communication that helps both sides the developers should also submit their proposed development programs and commitments then what do they expect out of the public sector what are they going to provide what’s their equity going to be what are their debt commitments do

They have banks that have letters of reference letters of commitment from financing entities you know what is what if they proposed a lot of times we’ll see that developers have proposed financing that is contingent upon a valuation not evaluation but eight of valuation of the project so if the

Project is valued at a hundred million dollars may have a banking commitment for a 75-percent loan to value that’s great but in a lot of these kinds of projects the cost of the project is higher than the value to the private sector which is why it requires a

Public-private partnership so if if the hundred million dollar project is only worth 80 then 75% loan-to-value is going to be a lot less and so you got to figure out who’s going to make up that difference you want to know what their operating projections are for the

Project as well as again their financial credentials do they have if they’re proposing you know five million dollars in equity do they have five million dollars in the bank or how are they expecting to get that who’s got it so you want to get personal or corporate financials balance sheets from those key

Players and it’s unless you’re actually dealing with a public type of company a large company that’s going to be the developer then having those public company balance sheets is not going to help you we’ve seen that in projects a lot will where they’ll have you know a

Large firm a large brokerage firm or a large hotel firm that is you know part of their team and they’ll provide their financials well they’re not providing the financing for this project so we don’t care about what their financials are we care about the people who are

Going to be going to the bank and taking risks on this so make sure you get the proper financials and you should also submit references for other projects so that you can find out did it go well did it go well with another project in another city find out what the story was

Okay so how do you get this RFP or RFQ out to the development community this has actually changed a lot just as communication has changed over the last few years it used to be that you would take out an ad and the local business journal the local paper The Wall Street

Journal those kinds of things these days it’s almost all done online and through consultants because we we deal with these do offers all the time as an example so and we have relationships and we can say to these guys here’s a project here’s a community that’s really serious about

Doing X Y Z we think you should take a look at this based on what you’ve done in the past otherwise it’s kind of a crapshoot you’re getting it out there but you can do it through you can do it through you can still do it through the

Local real estate journal you can let you could do a press release those kinds of things you can do it through websites of the national organizations like you a lie IDC all of those APA those kinds of things there’s another way you can do it we subscribe to a service called on via

And that is a clearinghouse of public agencies that are issuing RFPs and so we have our keywords in for things that we’re interested in seeing and so then you can put your art piece or are accused out on something like on be in there a couple other public agency

Clearing houses like that that you can get your RVs and RFQs out on so it’s important to get those out to the right list of people okay so once you’ve received the responses well first of all you should probably be in touch with folks a while during the response

Process so you want to first of all make sure you give them enough time to respond to it if it’s an RFP and there’s a lot of detail involved you probably want to give them at least four to six weeks to respond because they’re having to do a lot of work including design

Work and some market research and things of that nature you want to be able to be available to answer questions you want to make sure that that you’re in communication with as many of the potential respondents as possible to find out do they have questions is there

Anything that is kind of sticking in there crawl that’s making them not want to respond is really you want to get as many high-quality responses as possible so that is we have found one of the things we’re often asked to do by cities is say you know we either we’ve

Issued the RFP for them or or help them write it or they’ve already written it in and sent it out and then they say help we were concerned that we’re not going to get any responses so then we we come in and make sure it gets to a good

List but then we follow up with those folks by email and by phone and say hey did you get this are you planning to respond if not why do you have questions that kind of thing it makes a big difference um so you got to kind of work

Your list and then determine who’s going to be on the selection committee what’s your criteria going to be you hopefully already thought about that make sure it is on the same page with the rating system and then you then you want to make sure that you have a good process

For evaluating your responses so that if you’re going to do interviews that you only interview those that you really seriously feel like could pull this off and so then you want to meet the folks and kind of understand are we going to be able to get along with these people

You know like it or not there’s a very kind of regionalist kind of attitude a lot of times so like if we’re working on a project say in the middle of the country and an East Coast group comes along our client may or may not feel real comfortable with that we’ve seen it

Happen whereas if what the you know a more local group comes along there oh yeah we get along but you just never know so you really want to make sure that once you’ve narrowed it down apples to apples that you can bring in those groups to interview and make sure you

Understand what you want them to present when they interview you can even ask them to answer more questions before they come to the interview and then instead of picking a developer you rank your developers and so that allows you to start negotiating with the top-ranked group

Then if for some reason things don’t go well you can say well we didn’t pick you we just ranked you first so we’re going to put you to the side now since things didn’t work out and we’ll go to the second-ranked group so it gives you a

Little bit of flexibility there and then once you’ve gotten to kind of a memorandum of understanding with your selected group or your preferred group then you can go and get approval to move forward and authorize that MOU so what are the criteria typically included in this the appropriateness of the project

Concept the creativity the concept economic development benefits to the community what is the you want to of course limit your risk as a community and maximize your return and you want to understand that the group is experienced what this kind of project and has done similar things before with your kind of

Agency what about the financial strength always it comes down to money ultimately if you can’t pay for it you can’t build it so you may have to end up taking a less whiz-bang deal than a you know project than you had initially considered a lot of you know this

Happened in Indianapolis when I was at the mayor’s office we really wanted a thousand room hotel well at the end of the day it just wasn’t feasible and and either was the 600-room Hotel but at least we had the money to make a 600-room Hotel happen we didn’t have the

Money to make a thousand room hotel happen so then into 600-room Hotel and then ten years mmm 10-15 years later than they were able to do a thousand hotel the market had matured enough and they were a bigger a bigger deal by that time that they could make the thousand

Room hotel work and it was the same group that did the 600-room Hotel so they knew the community well at that point so understand the financial strength of proposed deal and be realistic about what you can and can’t make happen in your community you may

Have to do things in steps is design a big deal is LEED certification a big deal whatever those kind of key hot-button issues are in your community make sure those aren’t forgotten and you want to make sure that the responses are thorough creative and clear so that they followed all the requirements again

Talking about not selecting a developer but preferring a top-ranked developer you want to make sure that you always kind of keep them ready to negotiate and to think that if we don’t do this well somebody else may come along subject to satisfactory negotiations the MOU or a

Letter of intent is the document that really records the key commitments and key business terms as part of the deal you want to make sure that everybody’s kind of on board with that again the memorandum of agreement or understanding or a letter of intent basically between the parties is the agreement with the

Preferred developer it defines the project it details the performance and schedule obligations it sets the performance guarantees it determines the financial structure then sets that forth as best as possible with room for changes as they come up it may be you there may be a lot of things that are

Subject to or contingent upon but you want to get as much down on paper as you can that you can all agree on so that you can kind of say okay this is our this is kind of what we’re intending to do together now we’ll go and get into

The specifics of a development agreement while we finish our studies go to our banks do all those kinds of things so the development agreement puts the MOU or MO and way into a legal document becomes a formal contract the developer needs to secure private financing make

Sure you have a very good real estate attorney on your side of the table that understands redevelopment law very creative and very smart a lot of times your in-house attorney will not be depending on the size of the community that you’re in your city attorney may

Not be that person you want to get someone who has done kind of complex public-private real estate development projects before we’ve seen that as a real critical component and a bond attorney is also not always the right person you of course will want the bond attorneys and bond folks handy but

Making sure you have the right advisors throughout the process is really smart otherwise you could get into trouble one of the other things I would say is make sure you put a timeline into your agreements we have a situation we’ve seen situations where cities will enter into an agreement with a preferred

Developer that doesn’t have a timeline and so if they just drag it on and drag it on and drag it on and they don’t get financing then the city has no recourse and the developer is sitting pretty well not really sitting pretty but they they’re not the city is not able to

Dislodge them from the project because they haven’t set that as condition so some of these will be kind of repetitive from what we talked about throughout the whole discussion which is don’t issue a blind RFP don’t go on a fishing expedition and don’t proceed without having done your studies first know how

Much money you’re going to need to make a deal work and again developers don’t want to waste their time they don’t want you to waste their time and they and and you don’t want to waste your time going through this process two or three times because you didn’t do it right the first

Time is going to be a big pain and a lot of times cities do think that well we’re going to give away the land and we have tiff or you know something that every other city pretty much has that that’s going to be all it takes to

Get this project done but if you haven’t done your analysis in detail or talked to the development community you really don’t know and a lot of times that’s not enough to get a project taken care of don’t be swayed by beautiful pictures you want to understand the the real

Numbers behind everything and who is involved in a project understand your market and what’s feasible make sure you have political support not only for the project but for the financial support that your projects going to need make sure you call references do background checks on the developers to internet

Homework and find out what’s going on with those guys if you want the developer to show a commitment to the project then make sure that you’re willing to do the same sometimes you’re going to have to provide some upfront cash in a process to do either more

Studies or to share the burden with the with the developer because in a situation like we have now that the it’s the city that wants the project if it’s not a financially viable project for the private sector this developer that’s coming along is basically a service provider to you they’re not looking at

This as a get rich quick thing they’re saying yeah we will undertake this project on your behalf but you know don’t act like you know they’re going to make all this money and they should therefore spend all this money once they’re selected without any sort of quid pro quo or guarantees that they’re

Going to move forward because if it were up to them they wouldn’t have responded without the inducements that you’re providing so just remember that there has to be kind of a shared commitment going forward also remember it is a relationship you both have things to offer you both have things to gain from

This and ultimately it is a business decision but you do need to get along with the people as best you can that are in this relationship some lessons that have been learned from public-private partnerships make sure it’s based on a plan and a vision that

You know where you want to go before you go out there to do it we often see that those communities that do things quickest and do things best have a political champion they have a mayor or a city manager or a town manager that is behind the project and really pulling it

Forward it’s very hard for the chief planner or consultants or you know other folks within the workings of city government or county government to make a project happen if it doesn’t have that political support so it’s really important to have somebody pulling the project through the process you want to

Make sure that as best you can that the project is supported by project revenues and then any incentives that are coming back to the project are generated by the project so for example if you’re doing a you know whatever the kind of project is if you have the ability to estimate what

The net new taxes generated either through sales tax or property tax are from a project that those are that you can say you know but for this project these rep these tax revenues wouldn’t be generated so if we’re going to give five million dollars to this project you can

With a straight face say to the community we’ve done an analysis and we believe that this projects going to generate six million dollars over the next ten years of fiscal impact to the community and we’re going to dedicate 5 million back to it to make sure it happens after the ten years then

Everything else is gravy to the community so that return on investment analysis is important for the for the community make sure you’re always communicating but that the communication process is very strong and limited so that you don’t get the politics involved involve stakeholders um make sure that you have like

Said before good attorneys and you do your homework in advance even though they do cost money they will help you move your project for it and make sure your consultants and attorneys have the kind of experience that you need on this project we’ve gone into communities

Where they’ve had a local group you know run a study on a sports complex or a youth sports complex or whatever the case may be and they really weren’t in that business but they convince somebody that they were and made a study say hey this is going to be the best thing since

Sliced bread when you look at when you really look at it show it to people across the country and then they go yeah not really these numbers are way too high there too rosy and so then the city’s already bought into this concept they said oh yeah we have this study

Well the study wasn’t that good so now they’re kind of looking like fools so just make sure that you have good consults and good attorneys as you move forward okay make sure that no matter how invested you are on a project you know when to walk away know that the RFQ

An RFP process does take time but screwing up a process by just jumping into bed with the first developer that comes along which then puts you over a barrel if things go wrong that takes even longer because then you’re going to have to go through the process all over

Again remember that the private developers are partnering on an adversary remember that attorneys and banks are always going to have stricter requirements than you probably would you’re going to have different goals and then you know it it really all comes down to getting the financing closed and moving dirt until then it’s still

Conceptual we have clients that will come to us and say this project is going to do you know XYZ fantastic numbers but the other day if those who are providing the money to the project believe those numbers and don’t believe the developer then it’s not going to

Happen so here are some bloopers we see these all the time here are just some highlights and this is one that always gets a chuckle because it doesn’t really inspire a lot of confidence this city may in its sole discretion and without any obligation to act reasonably may

Reject any and all proposals well that’s not really going to give us much confidence to respond now is it now you could say we really don’t want you to submit a lengthy submittal to our response but now we’re going to require you to include 10,000 different things

In your response well that we run into that all the time they the communities want everything under the Sun submitted yet they limit the number of pages to 20 that that’s difficult again they make sure that you’re what you’ve required in one part of the RFP or RQ it is not

Contradict or repeat what’s then asked for again in another part of your document is that happens again make sure your dates are logical they’re going to they’re going to choose the recommended team before the responses are due or within like two weeks or a week you know

Just make sure all those things are logical and in order and give you enough time to do what you need to do but again you don’t want to have them backwards here’s another upper from the same document among the listed selection criteria quality of the development teams proposal product not

Requested but the decree of creativity shown in the development proposal was not requested so again make sure your criteria and we have again seen this many times let us say your response is going to be judged on these five things but in the actual required submission

None of those things or a couple of those things weren’t actually requested so that as a response as a respondent the developer or whomever it is is trying to figure out okay how do we let them know that we qualify with these things but they haven’t asked us to put

It in the document anymore so it can be kind of confusing and complex so that brings us to the end of the the formal presentation and I apologize I my allergies with this fall weather that’s just hit chicago is really a gun crazy so my um my ability to speak and breathe

Continuously is a bit challenged right now but i’m going to take a breath and look for questions out there from folks and in the group great Rob well um that was a great presentation I think everybody really enjoyed it our first question here is um what is the best way

To determine if a developer’s financial expectations rate of return desired from a particular project are reasonable and practical or if they are unrealistic for example how does a public entity determine what an appropriate private market capitalization rate is for a particular project okay well that’s a that’s a perfect reason to have your

Consultant that knows these kinds of projects have done a study in advance or you can actually have them come in after the fact so we’ve we’ve done both normally the feasibility study is done and and hopefully the market information that the results first of all in that

Study would have all of those things in it whenever we do a feasibility study that has a financial stack in it we show what the banks require we’ve show what the equity required is and we show what the gap is based on those two things we

Know that banks these days require a lot more equity we know that equity requires a lot more return so the gaps are going to be bigger these days than they used to be although the cost of borrowing is less but all those numbers should be run

For you before you go out for this so that you understand what really is realistic out there if you haven’t done it we have clients like I said that have not run these things they will say get get into bed with a developer and the developer will suggest a development

Let’s say 150 units of market rate housing and they’ll say we need 5 million dollars in subsidy well then you have to have someone who knows how to run those things a specialist in those fields a feasibility expert go and run through their numbers with them and also

Do their own kind of third party due diligence to make sure that their numbers are legit we’re doing this right now and several these projects like I said where we’re looking at their construction budget is their construction budget high low what is going into their budget let’s go what

Are their assumptions related to debt equity all those things so I mean planners and redevelopment commission members and others in city government it’s not their job to be bankers and it’s not their job to be feasibility consultants so how are you supposed to know what the truth is you need to get a

Third party perspective and usually it’s on your dime that that’s going to happen that obviously you don’t want the developer paying for a feasibility person because you want it to be completely objective so that’s the answer to that question great our next question is under some local redevelopment lays you will need city

Council approval to select a redevelop ER which also gives development rights over a certain period of time how do you convince a developer that if you don’t perform someone is waiting in the wings to take this over once they have council approval well I think you

Again you want to have your your your groups ranked and so even if you have to make a decision that they are on like you mentioned you want to make sure there is a specific period of time by which they have to perform certain things you know they have to get their

Financing in place or they have to do you know various milestones and it’s then up to the council to if they don’t meet those to either award the process to someone else or start the process over again but it’s good to have those groups waiting in the wings to say hey

There were two other groups that were just almost as qualified as you are that if you don’t you meet these milestones then we have the ability to basically it’s a it’s a it’s a breach of the agreement and then we can break that agreement and go with the next best

Group so you just you it’s another reason to go through this process and not just pick someone that’s know the mayor’s buddy to do a project it’s a good reason to go through the RFP process and have multiple respondents that you feel good about great I’m so

Our next question is when is a combined RFQ / RFP appropriate we generally think that the why and I assume the questioner means that you do an RFQ first and followed by an RFP and we really prefer that in most instances most communities are not that patient but we think that

They should be because it allows you a chance to understand what you’re getting yourself into you learn a lot by doing these processes so doing the RFQ first seeing who’s out there getting interest narrowing it down as education to the process it also brings that wyd list that you can shortlist and then

With a straight face go out the short list with much more detailed RFP so in almost every instance we suggest that except when you don’t know what you want to build and and that means you probably just want to go out for an RFQ okay and have you experienced any transit

Oriented development projects and if so are you seeing a trend with project development along transit facilities we have we see a lot of communities trying to get Tod projects going usually you will want to make sure that the that there is a transit node in place first

Or is definitely going to happen and know what the timeline of that node development is going to be so that you’re not attempting to build something for a future transit no that doesn’t exist and may not exist you really want to make sure that that node is a done

Deal so I’m not sure what other trends related to Tod that’s year that you’re looking for but we have seen those be fairly popular but the instance of new lines being new transit lines being developed is not as rapid as I think everybody wants it to be so the

Actuality is not as much as what people are wanting it to be great our next question is what is the best way to get out the RFP or RFQs to potential developers again I think one of the one good way is definitely to you could do a

Press release and to not only your newspaper but to various groups out there international economic development council the international Downtown Association does like every two weeks or every month they send out an email to all their members with not only postings but our P’s and our cues that

Are on the street so the international council of shopping centers you know all these groups out there the APA will put these out there but like I said also clearing houses like on via and then you can also have a consultant who has worked with a lot of developers send it

To their list of qualified developers to because there are a lot of developers out there local regional and national but they bear they specify there they’re qualified in very specific things usually it’s not like all developers are the same and so it’s good to work with someone who knows that group of

Developers so for example the list of folks we would send our ps2 for a convention hotel is not really long but it’s very specific to those that we know who have performed well in the past that’s a completely different list than a mixed-use you know entertainment based

Developer RFQ or P that list that we would send out to a whole wide range of groups that have done things around the world so it’s good to have both the electronic means but also to have those folks who have worked with those groups before help you get those out in front

Of people great our next question is what type of market analysis / I data do developers look for in an RFP the more specific the better typically when we’re hired to do a market and financial feasibility study it’s important that you know it’s funny a lot of a lot of

People say oh we’ve had a marketing study done there’s a marketing study done and I say well what’s a marketing study we’re looking at the market and then we’re taking the information from the market and turning it into a recommended project and from that recommended project we’re seeing how

That’s going to perform financially in the market and so what you want is both a market and financial feasibility study that takes you all the way through how this thing’s going to perform line item by line item how much it’s probably going to cost and what the financial

Funding situation is going to be for that so a lot of times when and I can all use a hotel as an example we understand what banks are willing to lend for that kind of project we understand what equity sources are willing to do in terms of the return on

Investment and we know how much these projects are going to cost based on that information we can tell you what your gap is likely going to be we can also tell you that a lot of projects are sometimes publicly financed in their entirety as opposed to like arenas or

Convention centers or performing arts facilities and there isn’t much of a private involvement except as may be as a management company so those are all the things that a good consultant can tell you through their study and so the more information that’s going to be in there the better because then developers

Will know that you’ve done your homework if you’ve just had kind of a quick and dirty study done or you’ve done it all kind of in-house we see that a lot of times where a community will try to do like their own in-house little study and it just does not inspire confidence

Because you kind of you go wow this is a do-it-yourself job the you just not going to get the response okay um so our next question is is there a public key publicly available website that keeps them examples of excellent rfp files if there is looking at matthew if there is

I’m not aware of it um we you know you can usually go to developers and consultants and others who respond to these all the time and ask them and say hey we want to issue something can you send us some copies of once that you’ve responded to that you thought were

Especially well written we do that all time will will send you know examples of ones that are well done or will actually again you can hire someone to help you write one well because again then you’ll save a lot more time and energy and wasted time down the road if you if you

Write one correctly so not that you can’t do it yourself we’ve seen very well written ones done completely you know without assistance but again it’s helpful to have some go buys that you can get from others who have responded to those in the past great our next

Question is how do you keep developer interest in a project when the public keeps squashing components that are crucial to the economic feasibility that is tough and that and that’s your kind of local challenge as you really want to make sure that you have as many ducks in

A row as you can locally before you go out to the market so if there are various incentives that you know are going to be necessary to make this project work you want to make sure you have those in place because if you’re you know still kind of working on say a

USDA grant or new market tax credits you think you might be able to get but you don’t really understand them you know whatever the case may be or you might be an intense district but it hasn’t been approved yet I would make sure you get those taken care of first if if you

Launch the developer selection process too early before you’ve done your homework before you’ve gotten those things put in place you could be looking at a bit of a mess alright in regards to the Tod would you consider a development along a bus rapid transit line or do you

Feel only fixed rail is a safe bet oh I think that really depends on the situation it really depends on how dense the market is how dense the neighborhood is the population in that area in the community in certain communities taking the bus is looked down upon in

Other communities like in Chicago or New York and many other large cities it is just as is nice or nicer than taking the train and people do it as a matter of course all the time and it is very helpful to have Tod along those major

Stops and Ralph so if it really what I would say is if you’re developing if you’re trying to take a system from being kind of the transportation of last resort to something that more and more people rely upon but it’s not there yet in the public’s eye you’re going to have

A hard time convincing a developer to put their capital at risk trying to build a Tod because then they’re going to have to convince the public okay live along this route that you don’t necessarily have confidence in so you know as planners I think we like to

Think that everybody’s on board with us in terms of what we think can happen but if they’re not there yet they’re not there yet and it’s going to be hard to convince a developer and even if you’ve convinced a developer then the developers got to convince their banker

And again you know if you don’t have any go byes if you don’t have any examples of success elsewhere in your community it’s going to be tough all right um so our next question is are there any specific software’s or group of softwares that developers are using in

Their feasibility studies and what do you use if any you know every the answer is no the every study is unique to the project the process and methodology is similar we’re looking at the local market conditions we’re looking at local supply and demand the quality of supply

The amount of demand the level of intensity of demand is there any unaccommodating demand what’s been done other places were looking at the competitive environment but also the comparable facilities that have been built and then based on that what assumptions can we make for for revenue and expenses that are realistic and so

We are generally I mean we have models that we use we have a different model that we use for economic impact studies we have a different model that we use for residential development versus versus a hotel development versus a Performing Arts development versus an arena versus a convention center they

All have similar kind of you know you were looking at revenue and expenses but at the end of the day they all are different businesses in different models so you have to understand those markets in order to generate it but it’s not like you can just buy a software package

And punch it in now when it comes to valuing a project there’s you there are some relatively simple valuation models that you can run based on net operating income but that’s a little bit more specific than I think we want to get into today okay and so do any of the

RFPs with glaring mistakes and them result in a lower response rate or does it diminish the return of quality developers and response the answer is absolutely yes there are rfps that will result in no responses very often we see it all the time and when I teach these

Classes say to folks at you know in person live when I can actually see them and say raise your hand if you’ve had a failed RFP process or an RFP process that didn’t you know meet your expectations almost everyone raises their hand and that’s why I feel like

This is such a necessary kind of class to go through because you have to do your homework you have to kind of get your ducks in a row as best you can because we’ve seen so many of these fishing expeditions where somebody says hey you know we really want to UM do XYZ

Development and nobody responds well the reason no one ones is there’s no confidence that the city knows what they’re doing and the more times you put one on the street because we all have Google Alerts now and so if we’re interested in a community it pops up every time every

Morning that we check lycée up there goes what’s the community in North Carolina Wilmington there goes Wilmington again their fourth time doing an RFP and they still didn’t get it right well finally they hired someone to help them to the process hopefully they’ll get it right this time but

People pay attention to that kid developers consultants and you start to write off communities that keep screwing it up so you definitely want to do it right the first time because people will absolutely not respond and we’ve gotten calls even on a consulting basis where we chose and not to respond to someone

That wanted to do just a study but they wrote their RFP so confusingly that we said you know what it’s not worth our time then they called us back later and said gee why didn’t we get any responses and you said well we we couldn’t figure

Out what you wanted your budget was too low it just wasn’t worth the time so then they rewrote it try it again and had a successful result okay and so what is a good way to educate the public about public incentives which may be seen as giving public money away you

Know that’s where we feel like the economic impact analysis which is really an economic employment and fiscal impact analysis is really key to any sort of public private project in any sort of analysis you know don’t do a feasibility study without doing that analysis as well it’s going to cost you more

Probably ten to twenty thousand dollars more than a normal feasibility study to have that impact analysis done as a part of it but at the end that what that really is is the public’s return on investment so let’s say again you had 100 million dollar project that was only

Worth 80 but if it generates you know 200 jobs and the economic activity in your community is going to go up by a hundred million dollars a year because this project and there they’re going to be you know X million dollars of property tab this generated X million dollars of

Sales tax is generated and income tax is generated every year over the life of the project then you can say this is the return to the community and so of this 40 million dollar return over X period of time we are going to just reinvest a portion of that back into this project

And so but for this project these monies wouldn’t exist in the public coffers so we’re not taking money out of our budget per se we are taking money that would be generated for the public out of this project anyway and turning it back to make the project actually work and then

Once those monies are paid all the rest is gravy to the public so we tend to look at is more of a return on investment ok great well that’s actually all the questions I have for you today um thank you so much for the presentation it was really great and I

Think everybody really enjoyed it um for those of you who are still in attendance I’m just going to go through a few reminders in a moment about logging your CM credits and can I just interrupt one thing quickly we did not put our contact information on here if you have further

Questions you can email me at our hunden at hundin partners com or you can give us a call here at the office at 31 29 33 excuse me that’s my cell 31 2643 2500 is our office number ok great thank you eight so first off to log your Sam

Credits for attending today’s webcast please go to ww planning org cm select today’s date which is September 16th and then select today’s webcast successful developer RFP processes the do’s and don’ts this webcast is available for one and a half cm credits and we are also recording today’s sessions so you will

Be able to find a recording of this webcast along with a six slide per page PDF at ww utah APA org slash webcast archive this does conclude today’s session and I want to thank everyone again for attending

ID: BiAWYF8B82Q
Time: 1343492174
Date: 2012-07-28 20:46:14
Duration: 01:28:56

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