A Request for Proposals or RFP is a public statement inviting groups to submit competitive bids for a particular development project. An RFP will typically include specific priorities that the groups submitting bids are expected to include in their proposals, such as levels of affordability, social services, community space, etc. The proposal that best aligns with the stated priorities is selected through a competitive process. Government agencies like HPD and EDC often release RFPs for development projects on publicly owned land.
Development on city-owned land requires that a developer is chosen through a city-managed Request for Proposals (RFP) process. City-owned land developments accounted for one-third of the total affordable housing development activity in New York City
Request For Proposals (RFP) is listed under:Development