Attachment_P-FinancialSubmissionWorkbook-Final.xlsx

This is a Financial Submission Workbook for the City of Tampa's redevelopment Request for Proposals (RFP) for the Royal Street Parking Lot and Army/Navy Store site located in the Downtown Community Redevelopment Area. The RFP seeks development proposals for a mixed-use, transit-oriented project on four city-owned properties: the 1420 Parking Lot, 103 E. Laurel Street, Royal Street Parking Lot, and the Army/Navy Store property. The project requires a minimum of 800 total dwelling units with at least 30% affordable housing for households earning up to 80% of Area Median Income (AMI), an additional 20% workforce housing for households earning 80-140% AMI, and 28 conservatory housing units for cultural arts professionals. The development must include a minimum of 15,000 square feet of non-residential space comprising retail, commercial, and office uses. The mandatory pre-proposal conference was scheduled for November 17, 2025, with a response submission deadline of December 12, 2025.

The financial workbook provided is a blank template for applicants to complete, containing sections for development program summaries, development cost pro formas, stabilized operating pro formas, and 15-year operating projections. The template includes detailed line items for uses of funds across multiple housing categories (market-rate rental, affordable rental at 80% AMI, workforce housing at 140% AMI, and homeownership options), as well as commercial, retail, open space, and parking components. Sources of funds sections address construction financing, permanent financing, equity sources including Low-Income Housing Tax Credits (LIHTC), and state tax credits. The workbook requires applicants to project revenues from lease income, vacancy adjustments, and operating expenses including maintenance, real estate taxes, insurance, utilities, management fees, and reserves. Developers must demonstrate financing viability through debt service coverage ratios and equity cash flow projections over a 15-year operational period, with all projections required in 2025 dollars. The evaluation criteria emphasize meaningful Small Local Business Enterprise (SLBE) participation and compliance with the City of Tampa's Equal Business Opportunity Program.