Redevelopment Proposals for the proposed Park South Urban Renewal Plan Area

Albany Local Development Corporation

Introduction
The City of Albany's Urban Renewal Agency (known as the Albany Community Development Agency ("ACDA") is issuing a Request for Proposals ("RFP") to seek a preferred developer for the implementation of the Park South Redevelopment Urban Renewal Plan for the proposed Park South Urban Renewal Area. The proposed Urban Renewal Plan area (the "Plan Area") is bounded by Lark Street to the east, Myrtle Avenue to the south, Robin Street to the west, and Madison Avenue to the north. The Park South neighborhood is located within the original settlement of the City of Albany and near major employers such as City, County, and State government, the University Heights Association campus, SUNY Albany, and Albany Medical Center. According to the 2000 Census, there are approximately 118,000 jobs within a short commute of Park South. The neighborhood is adjacent to Albany Medical Center, Washington Park, and the Lark Street Commercial Corridor.

The ACDA is requesting responses, which detail proposals for implementation of the Park South Urban Renewal Plan. The goal of the plan is to utilize key development projects along, or adjacent to, New Scotland Avenue as a means to leverage other investments throughout the entire neighborhood area. The ACDA is issuing this RFP to identify an experienced developer with the proven skills; resources and commitment needed to successfully redevelop, market, and manage an urban redevelopment plan area. The development team should include participants with relevant experience in a development of this type. It is anticipated that the Plan Area may be developed in a phased approach over a number of years. Consequently, the ACDA is looking to reach a contractual arrangement with a preferred developer who will assemble a team acceptable to ACDA and the City that is capable of planning, assembling property, designing, financing, and developing the Plan Area into a revitalized Urban Renewal plan area.

The Albany Local Development Corporation ("ALDC") will act as the agent on behalf of the ACDA and will assist ACDA in the evaluation of the RFP submissions and the negotiation of a preferred development agreement. Copies of the RFP may be obtained at the Albany Local Development Corporation, 21 Lodge Street, Albany, New York, 12207, between the hours of 8:30 a.m. and 4:30 p.m., Monday through Friday. Respondents from outside the Albany area may request that an RFP be sent via U.S. Mail. To request an RFP, contact Ms. Rebecca Brownell at (518) 434-2532 ext. 14 or e-mail at [email protected].

An informational meeting will be held at 2 P.M. on Wednesday, March 2, 2005 at 21 Lodge Street, Albany, New York. Attendance is not mandatory, but is strongly encouraged. ALDC will provide minutes of the informational