Lisbon Market Analysis RFP

Please view full document and proposal forms at our website:  https://www.lisbonme.org/sites/g/files/vyhlif3366/f/uploads/lisbon_rfp_2021-002_market_analysis.pdf

 

TOWN OF LISBON

LISBON MARKET ANALYSIS

BID NO. 2021-002

 

NOTICE TO CONTRACTORS:  REQUEST FOR PROPOSAL

 

Bid #2021-002

LISBON MARKET ANALYSIS

 

July 16, 2021

 

Sir/Madam:

Sealed bids will be received in the office of the Town Manager until Wednesday, August 20, 2021 until 12:00 p.m., at which time they will be publicly opened and read aloud.  Specifications for the LISBON MARKET ANALYSIS project are enclosed.

The Town Council reserves the right to accept or reject any and all proposals.

Please use a sealed envelope clearly marked with the bid name and number when submitting your bid. Only sealed bids will be accepted. Faxed bids will not be considered.

 

Respectfully,

 

Brett Richardson

Economic and Community Development Director

 

 

TOWN OF LISBON

LISBON MARKET ANALYSIS

BID NO. 2021-002

 

Bid Date: August 20, 2021 @ 12:00 p.m.

The Town of Lisbon is seeking qualified bids from contractors to provide all aspects of the LISBON MARKET ANALYSIS project for the municipality.

 

SCOPE OF WORK

The purpose of the Lisbon Market Analysis (LMA) is to identify feasible residential, retail and service opportunities for private development throughout the Town of Lisbon, with a special focus on mixed-use development at the former Worumbo Mill Site at 1 Canal Street.  Background materials detailing Worumbo site considerations and public input via a local community visioning process are available at: https://www.lisbonme.org/lisbon-development-committee/webforms/worumbo-redevelopment-visioning.

The selected bidder (hereinafter “Contractor”) will base findings on current and anticipated future market conditions using economic and demographic data.  The LMA Deliverable will specify space types within each market category based on an analysis of trends within Lisbon’s residential, retail, and service market to identify gaps between supply and demand.

In addition to informing future plans for the former Worumbo Mill site, it is the Town’s goal that the LMA Deliverable will be useful for property owners throughout the Town who are exploring redevelopment options for privately owned parcels.

Project Management

  • Project Management Remote Meetings or Calls:  2 hours total at minimum
  • In-Person Evening Presentation in Lisbon:  1 hour

Deliverable

The deliverable for the LMA will include a report and financial pro forma that presents the research, analysis, and recommendations for the market and financial feasibility analysis in a final report, which will include an executive summary. An electronic copy of the report will be provided by email.

  1. Demographic and Economic Profile

    Contractor will develop a demographic and economic profile of the town and relevant market areas that will be used for reference throughout the study. Data will be collected at the appropriate level for each market sector (town, county, region, etc.). The demographic profile will include existing and projected trends for population distribution by age and income, number of households, median age, etc. Contractor will also compile information on labor market size and commuter trends to identify inflow-outflow.

Demographic Profile.  Indicators within the demographic and socioeconomic profile will include, but are not limited to:

  • Existing, historic, and projected population trends
  • Population distribution and characteristics: age, income, education, diversity
  • Household characteristics and trends

Economic Profile.  Contractor will detail job growth trends and projections at the sub-industry level to help identify future commercial and residential demand. The analysis will examine historic and projected employment trends, industry concentration (location quotient analysis), and industry competitiveness (shift-share analysis).

 

Residential Real Estate Analysis.

 

Contractor will assess the supply and demand by residential space type (rental apartments, for-sale units, etc.). The housing profile will explore the role that housing plays in talent attraction and retention and supporting economic activity locally and in the broader region.

Contractor will create a housing profile for the region, which will include:

  • Housing characteristics: home value, age of the housing stock, etc.
  • Vacancy rates and price points
  • Recent and planned development activity

 

Retail and services market analysis. 

Contractor will identify what people are spending on retail goods and services, and where they are spending it. Key findings will include:

  • Retail/Services categories with strong potential to expand within the region, and how many additional establishments and/or square feet of space can be supported.
  • Emerging opportunities for post-pandemic transitioning retail niches to determine what uses will drive economic activity.
  • Restaurant and services opportunities.

     

    Retail data will include:

  • Sales at local retail and services businesses
  • Spending by local consumers
  • Sales leakage/surplus gap
  • Demand by sector (potential new businesses or space)

     

    The Retail and Services Market Analysis will present a clear picture of the opportunities in the Lisbon market area as well as any challenges and barriers that might inhibit investment. The market analysis will also identify new development that the market can absorb in terms of square feet or number of units of new development now and into the future.

     

Worumbo redevelopment options & Financial feasibility assessment

 

Based on the market assessments outlined above and existing available information regarding site conditions for the property, Contractor will prepare a memo detailing two redevelopment options for the Worumbo site.  During a project management call with the Town, the Contractor will review the two scenarios with Town representatives to refine the scope. 

Contractor will prepare a financial analysis of the two Worumbo redevelopment scenarios to be considered. The financial feasibility study will include projections on price/rental points, construction costs and required capital investment, operating expenses, market capture, and other key economic and financial information for each scenario. Estimates for construction costs will be based on site condition information provided by the Town, and average construction rates for the region.

The analysis will estimate pre-tax cash flows to the development partners (public and/or private) that will reflect possible leasing and ownership options, and investment requirements.

Contractor will present the findings of the financial feasibility testing to Town representatives during a video conference call. During this call, we will work with the Town to identify the preferred alternative.

 Desired Timeline to Complete Project:  September 13- November 5, 2021 (8 weeks)

 

  Proposal Content and Organization Requirements:

The proposal submitted should include the following information in the format and order described below:
 

  • Letter of Transmittal: The letter of transmittal should exhibit the Proposer’s understanding and approach to the services requested in the RFP. It should contain a summary of Proposer’s ability to perform the services described in the RFP and confirm that Proposer is willing to perform those services and enter into a contract with the Town of Lisbon. By signing the letter and/or the proposal, the proposer certifies compliance with the signature authority to bind. The letter of transmittal should also identify the following:

     

  • Contractor Information:
    • Submitting organization, its legal structure, location and primary telephone number;
    • Brief History of Organization
    • Identify the name, title, address, telephone number, and email address of each person authorized by the Proposer to contractually obligate the Proposer;
    • Identify the name, address, telephone number, and email address of the primary contact person for technical and contractual clarifications throughout the proposal evaluation period.

       

  • Qualifications and Experience:  To be considered as qualified to perform the requested services, the Proposer’s personnel must meet the following minimum qualifications:
    • 5+ Years of relevant experience
    • 3+ examples of similar projects successfully completed

       

  • References:  Proposals should include references for the proposer, and the Town of Lisbon will contact references.  The statement of references should include:
    • The name and address of at least four references
    • Phone number& email address of the contacts

Brief Description of Environment and Services Provided

 

It is preferred that the references be similarly sized public entities and/or entities for whom the proposer has or is providing similar services to those being requested in this RFP.

  • Availability for Pre-Award Interview during week of 8/23:  As part of the selection process the Town anticipates interviewing each bidder during the week of August 23, 2021.
  • Availability to Commence & Complete Project:  Proposals should include the date on which the bidder is available to commence work and the anticipated number of weeks to complete the scope of work.
  • Bid Price:  The proposal should include a flat rate quote to complete the scope of work.

     

    Reservation of Rights:  The Town of Lisbon reserves the right to accept or reject any and all proposals without right of recourse by proposers.

    Questions:  Questions relating to the proposal should be submitted to Brett Richardson (brichardson@lisbonme.org) before end of business day on August 11, 2021.  Answers to questions will be shared with all prospective bidders by end of business day on August 13, 2021.

 

Pre-Bid Meeting:                   None

Bids Due:                               12:00 p.m. on August 20, 2021

Pre-Award Bidder Interviews:        Week of August 23, 2021

Bid may be Awarded:                       On September 8, 2021

Start date:                              After receipt of the Notice to Proceed

The proposal must be signed by the bidder with his/her full name and address and be enclosed in a sealed envelope. The sealed envelope shall be marked with the name and address of the bidder and entitled: LISBON MARKET ANALYSIS, and be addressed to: Economic and Community Development Director, Lisbon Town Offices, 300 Lisbon Street, Lisbon, ME 04250. All mailed proposals should be sent be registered mail to ensure delivery.

Any bidder may withdraw his/her proposal prior to the scheduled time for the opening of proposals upon presentation to the Town Manager of a request, in writing, to do so. Any bidder who withdraws his/her proposal within thirty (30) days after the actual opening thereof shall be considered to have abandoned his/her proposal. Any proposal received after the scheduled opening time will not be considered. The Lisbon Town Council reserves the right to waive any formality and may consider as informal any proposal not prepared and submitted in accordance with these provisions. The Lisbon Town Council reserves the right to accept any proposal or reject any or all proposals if it is deemed to be in the Town’s best interest to do so.

INSURANCE:

The Bidder shall furnish proof of coverage with adequate insurance of the types and to the limits specified below naming the Town of Lisbon as additional insured. Certificate of such insurance shall be filed with the Town Manager.

WORKERS’ COMPENSATION:

Workers’ Compensation, coverage with Statutory Limits and Employers Liability for all employees with limits of $400,000 per incident; and in case any work is sublet, the Contractor shall require the sub-contractor similarly to provide coverage for the latter’s employees unless such employees are covered by the protection afforded the Contractor.

AUTOMOTIVE LIABILITY INSURANCE:

Automotive Liability insurance with minimum limits of liability for bodily injury in the amount of $400,000 for each occurrence and minimum limits of liability for property damage in the amount of $50,000/$100,000 aggregate.

GENERAL LIABILITY INSURANCE:

General Liability insurance with minimum limits of liability for bodily injury in the amount of $500,000 for each occurrence and minimum limits of liability for property damage in the amount of $50,000/$100,000 aggregate, or a combined single limit of $500,000 for each occurrence, including completed operations shall be required.





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