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We have received the following request for information and hereby respond following:
(1) QUESTION. “2.2.1 on the RFP states, provide appraisals appropriate for the housing authority undergoing a RAD conversion using LIHTC or other financing. Questions, there is no attachment relative to defining what is “appropriate for a RAD conversionâ€, please define.â€
AGENCY RESPONSE. “appropriate for a RAD conversion†is defined in sections 2.2.6 and 2.2.7. The PHA wants to work with an appraiser that has worked on RAD conversion LIHTC projects in the past and understands what HUD and other funding sources are looking for in an appraisal.
(2) QUESTION. “2.2.7 This section may in fact answer the above question, ie: the values requested under this section may define what is appropriate (?), however I do not want to assume.â€
AGENGEY RESPONSE. See Question (1) above.
(3) QUESTION. “2.2.2.7----Question, 2.2.7.4, “Leased Fee interest value for a ground leased property†Please provide detail on this item. Do any of the properties being valued have a ground lease? If none of the properties being appraised have a ground lease, 2.2.7.4 is not applicable?â€
AGENCY RESPONSE. We are proposing that the Portland Housing Authority (PHA) will ground lease directly to the Limited Partner (LP) owner entity of a LIHTC project, or Portland Housing Authority will sell the land to Portland Housing Development Corporation (PHDC), an instrumentality of PHA, and then lease the land to the LP. There are no current ground leases. Please assume that there is a ground lease for values needed for 2.2.7.1, 2.2.7.2 and 2.2.7.3. Disregard 2.2.7.4. 2.2.7.4 is redundant and with the assumption of the ground lease in the first three values, we will have the information we need.
(4) QUESTION. “Delivery or turn time. What are the expectations on timing? Are we to provide timing based on the entire group or a range reflecting when the first to last report will be delivered?â€
AGENCY RESPONSE. A range reflecting when the first and last report will be delivered is the best approach. Upon award, Respondent should work with PHA to prioritize the properties according to their RAD conversion schedule and LIHTC application schedule.
We are grateful for your interest in doing business with our Agency and, if you have not already done so, we look forward to receiving a proposal submittal from your firm.
Regards,
Heather Kaufman
Procurement Coordinator
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