Our RFEI
The Trenton Parking Authority was established in 1947 by an ordinance of the City of Trenton.
The Board of Trustees of The Trenton Parking Authority, as stewards of both The Trenton Parking Authority’s organizational mission and its real estate assets, seeks proposals from qualified developers that will allow utilization of a key asset in support of its long-term organizational objectives, and as a catalyst for redevelopment in downtown Trenton.
The Trenton Parking Authority requests real estate developers (“Proposers”) to respond to this “Request for Expressions of Interest” (RFEI) as part of a two-step developer selection process. The first step in the process will allow the Trenton Parking Authority (TPA) to consider initial proposals from qualified developers who demonstrate an interest in the development of the TPA Property Offering as described here. Proposals should demonstrate how their proposal will bring economic activity and/or other benefits to the City of Trenton in exchange for a sale, a long-term lease, a Public-Private Partnership, or other viable approach to development of this site.
In the second step of the process, TPA will select from among the submissions during this RFEI process, a short list of pre-qualified Proposers who may then be invited to respond to a “Request for Proposals” (RFP) for potential selection as the Designated Developer for the Site. The developers to be selected for a short list must also demonstrate that they have assembled a qualified development team, capable of completing the identified proposal for the Site, in a timely manner.
TPA anticipates issuing a Request for Proposals (“RFP”) to the selected pre-qualified Proposers. Such issuance will have no legal or financial commitments associated with it, but instead will request more detailed information to determine which pre-qualified Proposer is best suited to meet the needs of TPA. The main preference will be given to a proposal that provides the most viable and beneficial project and to the developer most capable of successfully executing their proposed Development Proposal in a timely fashion. A refined Development Program, evidence of market and financial viability, a schedule for closing, and a financial proposal will also be required, and will be considered by TPA in their final selection process.
TPA is seeking a Developer who will be responsible for financing, planning and design, management, operation, and marketing of the Proposed Project. The Designated Developer will have sole responsibility for obtaining all financing, whether in the form of equity, debt, anticipated public incentives, etc., as may be necessary for the development of the Proposed Project. Proposers may partner or team with other entities as necessary to complete the Proposed Project. Engineers and other technical consultants may participate on more than one Proposer’s team.
Notwithstanding anything to the contrary contained herein, each Proposer understands and agrees that this RFEI constitutes only a proposal for expressions of interest and shall have no legal or binding effect on TPA and/or any Proposer, whether or not they submit an expression of interest.
The TPA reserves the right, in its sole and absolute discretion, to reject all submissions, to undertake discussions and modifications with one or more Proposers, to waive defects in submissions, and to proceed with that submission or modified submission, if any, which in its judgment will best serve the interests of the TPA and the City of Trenton.
PROPOSAL SUBMISSION PROCEDURE
- Submission preparation costs are not reimbursable by the TPA.
- Proposals should include a cover letter with detailed contact information andsignature of the authorized officer.
- Responses should be submitted no later than September 30, 2024.
- Both Electronic and hard copy submissions are acceptable.
Electronic submission can be emailed to: [email protected], as a PDF attachment or downloadable link. Hard copy submissions should include four (4) copies and a thumb drive (or comparable electronic media format) addressed to:
The Trenton Parking Authority
16 East Hanover Street
Trenton, NJ 08608
Attention: Anne LaBate, Board Chair
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