RFP #3 26/27 Development Opportunity- Addendum #1

Description

Questions concerning RFP #3-26/27 Development Opportunity 2026: 1. Which submission deadline controls the RFP? The submission date is Tuesday, November 3, no later than 2:00 pm. The other date was an oversight error on my part. I apologize for any inconvenience this has caused. 2. Is the $112,500 amount a firm minimum? All options will be considered once proposals are submitted. 3. What documentation is acceptable as proof of the ability to purchase? Acceptable proof of ability to purchase includes recent, official documents from a verified financial institution showing your liquid funds, such as bank statements, certified bank letters, or investment account summaries. 4. Are nonprofit organizations, private entities, family entities, or partnerships eligible to apply? Nonprofit organizations, private entities, family entities, or partnerships are eligible to apply. 5. Can the property be leased, leased with an option to purchase, or purchased through an alternative arrangement? All options will be considered once proposals are submitted. 6. Can the approved purchaser be a trustee or family trust? All options will be considered once proposals are submitted. 7. When does responsibility for taxes, insurance, maintenance, and security begin? Responsibility for property maintenance begins immediately when property is awarded. Responsibility for taxes, insurance, and security begins immediately upon completion of contract negotiations and registration of deed, regardless of construction start date. 8. What happens if the applicant is selected but needs additional time to secure financing? Submittals will be evaluated on their Financial Plan. The qualified provider must provide a financial plan outlining operating costs, revenue sources, funding sustainability, and proof of ability to purchase the property. All options will be considered once proposals are submitted. 9. What construction documents or site plans must be submitted? At a minimum, a building floor plan, building rendering, and a preliminary site layout must be submitted. 10. What exactly triggers reversion of the property to the city? Reversion of property will occur if not in compliance with the required Scope of Work set forth in the RFP on page 2 of 6. Reversion of property will occur if construction does not begin within 365 days of the recording of the deed. A one-time extension of 180 days may be granted by the City of Sumter.