Attachment_P-FinancialSubmissionWorkbook-Final.xlsx

This is a financial submission workbook for the City of Tampa's Request for Proposals (RFP) for the redevelopment of the Royal Street Parking Lot and Army/Navy Store site located in the Downtown Community Redevelopment Area. The workbook serves as a template for applicants to submit detailed financial information regarding their proposed development project. The submission deadline is December 12, 2025, with a mandatory pre-proposal conference scheduled for November 17, 2025. The RFP requires developers to create a high-density, mixed-use transit-oriented development featuring a minimum of 800 total dwelling units, including at least 30% affordable housing for households earning up to 80% of Area Median Income (AMI), an additional 20% workforce housing for households earning between 80% and 140% AMI, and 28 conservatory housing units for cultural arts professionals. The project must also include a minimum of 15,000 square feet of non-residential space comprising retail, commercial, and open space components, along with parking facilities.

The financial submission workbook contains four primary pro forma templates: a Development Program Summary, a Development Cost Pro Forma, a Stabilized Operating Pro Forma, and a 15-Year Operating Pro Forma. All financial inputs are presented in 2025 dollars. The Development Cost Pro Forma requires applicants to itemize all project costs including land acquisition, hard costs (construction, site work, public realm improvements), soft costs (architecture, engineering, legal, financing fees, developer fees), and finance costs. The workbook requests detailed sources of funds including construction financing, developer equity, Low-Income Housing Tax Credits (LIHTC), state tax credits, permanent financing, and condo sales revenue. The Stabilized Operating Pro Forma and 15-Year Operating Pro Forma require applicants to project revenue streams from residential leasing, commercial leasing, retail leasing, and parking operations, along with detailed operating expense projections for maintenance, real estate taxes, insurance, utilities, management fees, and administrative expenses. The workbook calculates debt service coverage ratios and equity cash flows for both developer and investor returns over the 15-year projection period.