REQUEST FOR PROPOSALS

for the

Purchase and Development of

181 Hawley Street, Binghamton, NY 13901

Proposal Due Date: 4:00 p.m. on August 31, 2026

Broome County Land Bank Corporation RFP – Purchase and Development of 181 Hawley Street, Binghamton, NY 13901

I. INTRODUCTION

The Broome County Land Bank Corporation (“BCLBC” or “Land Bank”) is a New York not-for-profit corporation dedicated to fostering economic and community development by acquiring, holding, managing, developing and marketing distressed, vacant, abandoned and underutilized properties within Broome County.

The BCLBC is soliciting Request for Proposals (“RFP”) from qualified interested parties for the purchase and development of 181 Hawley Street, Binghamton, NY 13901 (the

“Property”). The BCLBC acquired the property in February 2025 from the City of

Binghamton, subsequent to a property settlement case.

The BCLBC is seeking proposals that demonstrate a residential use for the area, a feasible development plan to be completed within a strict time frame (less than twelve months from the date of sale), and adequate financial capacity and renovation experience to undertake the project. The BCLBC’s Staff and Board of Directors will evaluate the RFPs submitted and select one purchaser/developer, as determined by the Board of Directors in its sole discretion. All RFPs will become part of the Land Bank’s files without any obligation on the Land Bank’s part.

II. PROPERTY DESCRIPTION

181 Hawley Street (Tax Map # 160.42-2-46) is located on a street in the City of

Binghamton’s downtown. The parcel is 60’ wide and 135’ deep. The surrounding area is primarily residential multi-unit dwellings, with Columbus School in the Binghamton City

School District located right around the corner and Binghamton’s downtown business district only a few blocks away.

The vacant, two-family residence at 181 Hawley Street was constructed in 1920. The first-floor unit has 4 bedrooms, 1½ bathrooms, kitchen and shared living space. The second-floor unit has 4 bedrooms, 1 bathroom on the second floor and a ½ bathroom on the first-floor entrance, kitchen and shared living space. The total square footage across both units is

3,581. The building will require significant restoration/renovation due to outdated and incomplete systems and years of deferred maintenance. The property is being sold in “as-is” condition and no warranties are made regarding the property’s condition.

Photos of the property

III. ENVIRONMENTAL CONDITIONS

An asbestos survey was performed by Delta Engineers, Architects & Land Surveyors on the property in March 2025. A copy is available for review electronically upon request to

LandBank@BroomeCountyNY.Gov. The Land Bank hired Sunstream Corp. to abate the asbestos that existed on-site in accordance with bid documents issued earlier in 2025.

Abatement was completed in June 2025. Further, the Land Bank has undertaken a lead test performed by Delta Engineers. The property does contain lead; however, the Land Bank will provide the work specifications to the selected developer as drafted by Delta to be included in the final scope of work. A copy is available for review electronically upon request to LandBank@BroomeCountyNY.Gov. Lastly, the Land Bank utilized Delta

Engineers to conduct a pre-renovation radon test inside the structure in April 2025. The pCi/L level was determined to be 0.8 in the basement, and 0.3 on the first floor. A copy is available for review electronically upon request to LandBank@BroomeCountyNY.Gov.

IV. CITY BOARD REVIEW

The property is located in a residential district just outside of the City’s Downtown Business

District. Your proposal may need approval from one or more City Boards including but not limited to the Zoning Board, Planning Commission or Commission of Architecture and

Urban Design. Please consult with the City of Binghamton’s Planning Department regarding whether your proposal will need to be approved by such boards and/or commissions.

V. SITE ACCESS

The property will be available for access and inspection upon request beginning July 16, 2026. Please contact Executive Director Robert O’Donnell at 607-778- 6001 or via email at

LandBank@broomecountyny.gov to schedule an appointment. The building is deteriorated and all utilities are disconnected. Visitors should wear appropriate clothing and closed-toe shoes, must bring a flashlight, and may be requried to sign a release before entering the property.

VI. PURCHASE PRICE

Completed proposals must include an offered purchase price. The BCLBC is suggesting a minimum $10,000-15,000 purchase price for the property. Per the Land Bank’s disposition policy, the Board of Directors may select a winning proposal that does not contain the highest offered purchase price for a variety of reasons consistent with the BCLBC’s mission and purpose.

mailto:LandBank@BroomeCountyNY.Gov mailto:LandBank@BroomeCountyNY.Gov mailto:LandBank@BroomeCountyNY.Gov mailto:LandBank@broomecountyny.gov

VII. INSURANCE REQUIREMENTS

The Land Bank will require insurance certificates that are consistent with the requirements in our respective grant agreements. See Exhibit C and Exhibit D.

VIII. DEVELOPMENT INCENTIVE

Option 1: The BCLBC Board of Directors have agreed to offer a development cost match grant of up to $100,000 (if one unit is rented as affordable) and up to $150,000 (if both units are rented as affordable) in Land Bank funds. If applicants are interested in the matching grant of $100,000, the Land Bank would expect a proposal that includes at least one unit to be rented to income-qualified tenants for a period of 10 years from the initial date of occupancy. This requirement will serve as a restrictive covenant per the Land Bank’s existing Affordable Homes Program. The tenants income may not exceed 80% of the HUD determined Area Median Income (AMI). If applicants are interested in the matching grant of $150,000, the Land Bank would expect a proposal that includes both units to be rented to income-qualified tenants for a period of 10 years from the initial date of occupancy. This requirement will serve as a restrictive covenant per the Land Bank’s existing Affordable

Homes Program. The tenants income may not exceed 80% of the HUD determined AMI.

See chart below for FY2026. Please note that HUD updates AMI limits annually. The AMI limits below are subject to change. The grant award will need to be used to fund renovations solely in the affordable unit that the applicant proposes and it is anticipated that all funds would be expended by August 2027; therefore, the Land Bank would expect a construction completion date on or before August 31, 2027 (final timeline is subject to contract negotiation with the selected purchaser/developer). Approval of matching grant funds is contingent upon terms agreed to by the developer and BCLBC Board of Directors.

Option 2: The BCLBC will also make available funds to support the rehabilitation of income-qualified rental units through our recently announced Vacant Rental Program

(VRP) for use at 181 Hawley Street. VRP serves to bring vacant, uninhabitable units back into productive use for long-term low-to-moderate income rental opportunities. Through this program, both units are eligible for a standard award of up to $50,000 if occupied by tenants earning 80% AMI or an enhanced award of up to $75,000 if occupied by tenants earning 60% AMI.

Applicants should be aware that the VRP funds are subject to a set of restrictions and regulations that differ from the development cost match grant. Rent limits for rehabilitated units are determined annually by NYS Homes & Community Renewal and are established by number of bedrooms per unit. These must be maintained under a declaration of interest on the property for a minimum of 10 years. More details on this program and its restrictions can be found at https://broomelandbank.org/current-initiatives/vrp/. The BCLBC encourages applicants to familiarize themselves with the eligibility criteria.

Additionally, with respect to these VRP funds, the BCLBC understands that the program eligibility, prioritization criteria, and program requirements were created with small, local mom-and-pop style property owners in mind, as that is who the program is intended to serve generally. The BCLBC also understands for a project with the size and scale of the purchase and development of 181 Hawley Street, that a certain type of developer may be necessary to undertake a project, due to carrying costs, experience, etc. With that said, the BCLBC will work with the awarded developer through all facets of the VRP funding option and may be willing to waive certain program eligibility criteria to make this project a reality. This https://broomelandbank.org/current-initiatives/vrp/ potential waiver is only applicable to this project, and not the remainder of the BCLBC’s

VRP program.

Option 3: Applicants can opt for both development subsidies or a portion thereof (total up to $300,000). If applicants choose this option, both units will need to be rented to income-qualified tenants for a period of ten years, and will follow the VRP tenant income guidelines.

Under option 3, the restrictions and regulations of the VRP program will suffice.

FY 2026

Income

Limit Area

Median

Family

Income

FY 2026

Income

Limit

Category

Persons in Family

1 2 3 4

Binghamton, NY MSA

$88,600

80%

Income

Limits

$50,400 $57,600 $64,800 $71,920

60%

Income

Limits

$37,800 $43,200 $48,600 $53,940

According to the Department of Housing and Urban Development, the 2026 Fair Market

Rent (FMR) in Broome County for a 3-bedroom unit is $1,412 per month and for a 4-bedroom unit is $1,622 per month. For the purposes of this development project, the units assisted with BCLBC subsidies must be rented to income-eligible tenants/families per the

HUD income guidelines listed above, and at a rent at or lower than HUD FMR with any development incentive option selected.

If the applicant applies for VRP funds (up to $150,000), the BCLBC’s rent limits are as follows*:

FY2026

Bedroom Size

Fair Market

Rent for

80% AMI

(Standard)

BCLBC Limit for

60% AMI

(Enhanced)

1 $ 868 $ 651

2 $ 1,103 $ 828

3 $ 1,412 $ 1,059

4 $ 1,622 $ 1,217

*These are subject to annual changes

IX. PROPOSAL FORMAT

Per the BCLBC’s disposition policy, applicants must either reside in or intend to relocate to

Broome County, or agree to engage a responsible property manager located in Broome

County. Applicants also cannot:

• owe any unpaid and past due property taxes or any amounts for past due bills, fines or fees;

• have a history of code violatsions;

• have more than one nuisance abatement case or proceeding commenced against; or

• have lost any property to foreclosure for tax delinquency.

A. Respondent Information

1. Cover letter of interest

2. Identify Point of Contact for Proposal, including name, mailing address, email address, phone and fax number

3. Brief history and description of individual or firm

4. Resumes of key individuals including their roles and responsibilities for this project

B. Development Approach

1. Offered Purchase Price

2. Detailed project description and proposed approach to development of property

3. Management plan associated with the completed development including proposed monthly rent for the affordable unit if the applicant chooses to pursue the Land

Bank’s matching grant

4. Project phasing, inclusive of detailed project timetable

5. Proposed budget, including funding sources.

6. Any unique attributes of the project, such as approach, partnerships, public benefit, etc.

Note: Any design/site plans proposed for the redevelopment of 181 Hawley Street, City of

Binghamton, are subject to review by the appropriate boards and commissions of the City of Binghamton.

C. Financial Ability to Rehabilitate and Maintain Property: All applicants are required to provide sufficient documentation demonstrating financial capacity to fulfill their proposal.

Please include the following documents to support your application:

1. Most recent tax returns

2. Bank statement

3. Letter of Credit

4. Loan Pre-Qualification Letter

5. Grant Award/Funding Commitment Letter

D. Relevant Project Experience (up to 3 relevant completed projects)

1. Project name and location

2. Project description (partners, financing, project schedule/completion, etc.)

3. Project cost (budgeted and actual)

D. Qualified References

1. Contact information of at least two (2) qualified references.

E. Supplemental Documents

1. Copy of applicant’s Photo ID

2. List of all properties owned in Broome County, if applicable

3. List of all members, partners and shareholders, if applicable

4. Articles of Incorporation or Articles of Organization, if applicable

5. Signed copies of a Purchaser Certification and Terms and Conditions attached hereto as “Exhibit A” and “Exhibit B”

IV. QUESTIONS RELATING TO RFP

All questions pertaining to this RFP shall be submitted on or before 4:00 P.M. on August

17, 2026, via email to the Land Bank’s general email address at

LandBank@BroomeCountyNY.Gov.

V. SELECTION PROCESS

A. Anticipated Timetable

The BCLBC expects to undertake the selection process according to the following schedule:

RFP release date: July 16, 2026

Closing date for RFP questions: 4:00 P.M. on August 17, 2026

Deadline for submission of proposals: 4:00 PM on August 31, 2026

Selection of Purchaser/Developer: No later than October 20, 2026

*This schedule subject to change at the discretion of the BCLBC

B. Proposal Evaluation

Proposals will be evaluated and scored based on the following criteria:

VI. PROPOSAL SUBMISSION

To be considered, respondents must submit a complete response to this RFP providing all the required information outlined in Section VIII, Proposal Format.

Interested parties shall submit one (1) electronic version* of their proposal to the BCLBC office by 4:00 p.m. on August 31, 2026to:

Robert O’Donnell, Executive Director

County Office Building, 5th Floor

60 Hawley Street

Binghamton, NY 13901

LandBank@BroomeCountyNY.Gov

The BCLBC is not liable for any costs incurred by respondents prior to naming the project’s preferred developer. The contents of the response of the selected individual or firm will become contractual obligations should a contract be entered as a result of the

RFP.

Development Approach (maximum 40 points)

Relevant Project Experience (maximum 40 points)

Offered Purchase Price (maximum 20 points)

Respondents may be asked to make an oral presentation to the BCLBC Board of

Directors. The purpose of this would be to provide respondents an opportunity to elaborate their qualifications and ensure mutual understanding of the project.

The BCLBC reserves the right to reject any or all responses as a result of this RFP or to negotiate with any or all responding firms.

APPENDIX A

PURCHASER CERTIFICATION

I hereby certify that:

1. I understand that back taxes, outstanding code violations or unresolved foreclosures on any property that I own would cause my application to not proceed until such issues are resolved.

2. All information provided in the application is complete, accurate and current.

3. I will maintain the property in accordance with all land us, zoning and property maintenance laws and ordinances.

4. I will pay all costs and fees associated with the property, the closing of this transaction and any future related transactional costs, including any and all delinquent taxes and outstanding water assessments, if applicable.

5. I agree that the Broome County Land Bank may decline my offer to acquire this property for any reason. All sales are subject to approval by the Land Bank’s Board of

Directors.

6. I agree that if my offer is accepted and I have been provided with a contract for sale, I will have three business days to execute the contract. If I do not execute the contract within three business days, the BCLBC reserves the right to cancel the transaction and sell the property to the second buyer. Buyer will have an additional three days from the signing of the sales contract to review it with an attorney and to seek attorney approval.

If I do not notify the BCLBC that I do not have an attorney, or that my attorney does not approve the contract within that three business days, I waive that contract contingency and the contract will be deemed approved.

7. I authorize the Broome County Land Bank to conduct a background check and agree to provide such information as may be necessary to permit such action.

8. I understand that all BCLBC properties are sold in “as-is” condition and no warranties are made regarding property condition. The applicant assumes all responsibility to investigate, and if necessary repair the physical condition of the properties or of any structures or improvements located on any of the properties.

Applicant Name (Print): ______________________________

Signature: ______________________________

Date: ____________

Co-Applicant Name (Print): ______________________________

APPENDIX B

ADDITIONAL TERMS AND CONDITIONS

I understand that the Broome County Land Bank as required by law and/or contract may transfer the property with certain deed restrictions or requirements if applicable. This may include, but is not limited to:

a. Restriction requiring the buyer to get written consent from the Land Bank for a sale or transfer during a term of 10 years from the date of closing.

Example: A developer that intends to purchase, rehabilitate and resell a property would be required to have the prospective buyer submit an application to the Land Bank for approval so that the Land Bank can ensure that they meet the application criteria for being a responsible property owner.

b. Reverter clause by which title shall automatically revert to the BCLBC if a certificate of occupancy is not obtained within a certain time from the date of sale.

Example: An applicant states that they plan to have at least a portion of the building up and running within 12 months. The deed will require adherence to the agreed upon timeline. This ensures that properties are not purchased for speculative purposes and that properties will be returned to active use in a timely manner.

c. Requirement that certain properties be merged with property owned by the applicant or multiple Land Bank properties are required to be merged.

Example: An approved applicant who purchases a side lot under the Land Bank’s Disposition

Policy would be required to merge that lot with the property that they already own. Merging lots helps retain the lot as a side lot in the future, can bring non-conforming lots into conformance and consolidates tax and water bills for the owner.

d. Requirement for reporting if the application included some activity or program that was part of the rationale for approval.

Example: An applicant that is proposing the use of an additional funding source for their project. The board may request a report associated with such funding.

BY ENTERING YOUR NAME(S) BELOW, YOU CERTIFY THAT YOU HAVE

READ, UNDERSTAND AND AGREE TO BE BOUND BY ALL TERMS OF THIS

APPLICATION, INCLUDING THE ADDITIONAL TERMS DISCLOSED IN THE

ABOVE SECTION. YOU FURTHER CERTIFY ALL OF THE STATEMENTS SET

FORTH IN THIS APPLICATION ARE COMPLETE AND TRUE.

Applicant Name (Print): ______________________________

Co-Applicant Name (Print): ______________________________

APPENDIX C

INSURANCE REQUIREMENTS

Insurance (for Grantee Subrecipient and Subcontractors, as applicable)

Certificate of Insurance (ACORD 25) evidencing Grantee’s/ Subrecipient’s Commercial General Liability

Insurance in amounts not less than:

- $1,000,000 per occurrence/ per location or per project aggregate (for more than one location),

- $2,000,000 in the annual aggregate,

- $2,000,000 products/ completed operations aggregate

1. Naming the Broome County Land Bank Corporation, the Housing Trust Fund Corporation & the

2. State of New York, the City of Binghamton, and Construction Manager to be named later as an

Additional Insured;

3. Deductible should be no more than $5,000;

4. Must include list of exclusions;

5. No warranties;

6. Endorsements should include:

a. Additional Insured including premises operations and Product/ Completed Operations,

b. Waiver of Subrogation, and

c. 30-day notice of cancellation

Certificate of Insurance (ACORD 25) evidencing Grantee’s/ Subrecipient’s/ Subcontractor’s Worker’s

Compensation Insurance (in amounts consistent with state statutory requirements), and naming the Broome

County Land Bank Corporation. as the Certificate Holder. Named Insured must be Grantee’s full legal name.

Certificate of Insurance (ACORD 25) evidencing Grantee’s/ Subrecipient’s/ Subcontractor’s Auto

Insurance

- In an amount not less than $1,000,000, for all owned, non-owned and hired automobiles. If no owned automobiles, coverage may be extended from the CGL policy,

- Waiver of Subrogation,

- 30-day notice of cancellation endorsement, and

- Naming the Broome County Land Bank Corporation, the Housing Trust Fund Corporation & the

- State of New York, the City of Binghamton, and Construction Manager to be named later as an

Additional Insured with Primary Non-Contributory language.

Evidence of Property Insurance – to be furnished prior to commencing work on any property

REQUIREMENTS FOR ALL INSURANCE:

- Carrier must be rated “A-“ or higher in the AM Best Guide with a Financial Size

Category of at least VI,

- Named Insured must be Grantee’s full legal name,

- Policy must be current, not expired, and include all endorsements,

- Certificate must be signed by an authorized representative of the insurance carrier,

- Additional Insured/ Certificate holder/ (as required below) must appear as:

Broome County Land Bank

Corporation

60 Hawley Street, 5th Floor

Binghamton, NY 13901

Housing Trust Fund

Corporation and the

State of New York

38-40 State Street

Albany, NY 12207

City of Binghamton

38 Hawley Street

Binghamton, NY 13901

Construction Manager: To be determined