RFEI INFO SESSION FEBRUARY 27, 2018 Agenda I. What is AREA? II. - - PowerPoint PPT Presentation

Gibney Dance, Studio Y

AFFORDABLE ARTIST WORKSPACE RFEI INFO SESSION

FEBRUARY 27, 2018

Agenda

I. What is AREA? II. Affordable Artist Workspace RFEI Overview III. Submission Guideline

• IV. Q & A

WHAT IS AREA?

(AREA: Affordable Real Estate for Artists)

Affordability Problem

“While rents have risen across the city, they have increased most sharply in neighborhoods closely associated with creative workers. Over the last dozen years, rents rose in Williamsburg by 76 percent (inflation adjusted), in Bushwick by 50 percent, in Bedford Stuyvesant by 47 percent and on the Lower East Side by 43 percent.” Creative New York Report (2015), Center for an Urban Future “76% selected either cost or space as their primary challenge to creating art in New York City.” Downtown Brooklyn Arts Alliance Survey for CreateNYC (2017)

Mayoral Commitment

“…We know that New York is the city it is today in part because

• f the contributions from generations of artistic visionaries who

at one point struggled to make ends meet. So we’ll provide 1500 units of affordable live/work housing for the artists and musicians who make New York culture so vibrant …. as well as 500 dedicated affordable workspaces for the cultural community.”

• 2015 State of the City Address

Cross Agency Taskforce

Workspace Housing

500 units of affordable artist workspaces 1,500 units of affordable housing for artists

AREA Workspace Goals

1. Ensure that workspace remains affordable and equitable 2. Sustain and support the City’s creative and cultural production 3. Ensure that the needs of local artists and community are met 4. Utilize culture-led strategies to catalyze economic growth in neighborhoods

RFEI Overview

AREA RFEI (Request for Expression of Interest)

• Proposals to develop and/or operate affordable artist workspace
• DCLA and EDC to jointly review and select respondents to compile a

regularly updated list of qualified organizations

• Qualified organizations may be shared with appropriate parties for

the development of AREA projects

• Submissions will be accepted on a rolling basis (quarterly deadlines)

Funding, Incentives, and Requirements

• Capital Funding (DCLA)

– Total $30 million available for fit-out of qualifying projects – One time funding, up to $333 PSF for new workspace – Eligible for non-profit entities

• Discounted Rent or Land Value (EDC/DCLA)

– Case-by-case basis for eligible projects on City-owned sites

• Preference in RFPs and City-led development projects (EDC/DCLA)
• Compliance to AREA affordability standard required (DCLA)

Affordability Standard

• Affordable: below-market gross rental rate of $1.50 or less per

square foot per month to the end user, or by equivalent hourly rate.

• Workspace: a physical space that is made available to artists for the

creation and/or presentation of cultural works and uses directly related thereto.

• Utilization: minimum 90% utilization of AREA workspace (35 hours

/week)

• Long term: minimum 15 years for improvements on real property.

AREA Term Sheet

Appendix B in the RFEI

Respondent Roles

• Developer: a nonprofit arts and cultural organization that secures

the site, finances, and constructs artist workspaces, either for its

• wn cultural use or to lease to a nonprofit workspace operator , or

a combination of both.

• Operator: a nonprofit arts and cultural organization that leases,

manages, and operates artist workspace, either for its own cultural use or to be sub-leased to individual tenants, or a combination of both.

“What if I am not one of those?”

• Tenant Survey

– Informational and research purpose only – For organizations currently looking to rent space for arts and cultural use, or have space available for rent by artists and/or other cultural organizations – http://www1.nyc.gov/site/ dcla/programs/area-rfei- survey.page

Timeline

Quarters Dates

1st Quarter (Feb’18 – May’18)

• 02/27: Info session
• 03/05: Questions due by 5:00PM
• 03/19: FAQ answers posted on RFEI website
• 04/02: Submission due
• Selection announcement in May

2nd Quarter (Jun’18 – Aug’18)

• 06/11: Questions due by 5:00PM
• 06/25: FAQ answers posted on RFEI website
• 07/09: Submission due
• Selection announcement in August

3rd Quarter (Sep’18 – Dec’18)

• 10/01: Questions due by 5:00PM
• 10/15: FAQ answers posted on RFEI website
• 10/22: Submission due
• Selection announcement in December

4th Quarter (Jan’19 – Mar’19)

• 01/14: Questions due by 5:00PM
• 01/28: FAQ answers posted on RFEI website
• 02/04: Submission due
• Selection announcement in March

Submission Guidelines

Evaluation Criteria

• Completeness and Quality of Overall Response
• Respondent Readiness
• Financial Capacity
• Respondent Experience

Recommended Formatting

• Cover page
• Table of contents
• Section Heading
• Legible font (10-12pt)
• Adhere to stated word limit
• Page numbers
• Appendix for attachments

Submission Requirements

• Section 1: Respondent Description

– Legal full name – Contact information of the principal respondent – Description of the organization * – RFEI role *Questions are compatible with those asked on the DCLA CDF grant application

Submission Requirements

• Section 2: Budget & Funding

– Operating budgets for current and most recently completed fiscal years (exclusive of capital funding or expenses, or in-kind)* – For most recently completed fiscal year:

• Cash flow statement
• Audited financial statements (if gross annual revenue greater

than $500,000)

• Sources of institutional funding
• IRS Form 990

– If applicable:

• Descriptions of current or upcoming capital campaigns
• Confirmation of any endowment, reserve fund, or available

capital reserve

Submission Requirements

• Section 3: Statement of Interest (in 1,500 words or less)

– Your organization’s relevance to AREA – Type of workspace you are interested in – Proposed uses, space requirements, amenities – Demonstrated knowledge of current market demand – Community engagement plan – Vision for meeting stated AREA goals – Existing staff expertise – Relevant strategic or business plan – If there is a known project being contemplated:

• Brief description of the site-specific affordable artist workspace project (in 250

words or less)

• The address of the proposed site, and to the extent you know it, the proposed

programming, financing , and whether or not you currently have site control (e.g.,

• wnership, lease, etc.).

Submission Requirements

• Section 4: Experience & Capabilities (in 1,500 words or less)

– Experience in developing / operating similar spaces in the past (if any)

• Address, type, and size/configuration per location
• Layouts, equipment, and amenities offered
• Lease terms (if applicable)
• Annual cost of operation, management experience, and maintenance
• Financing and funding support from government and non-government
• Description of workspace rental access and booking system for workspace
• Public programs and events offered, and audiences served
• Related community engagement, planning, market study and/or marketing efforts

– Knowledge of the City’s arts and cultural landscape and key stakeholders – All other comparable experiences regarding artist workspace

Submission Requirements

• Section 4: Experience & Capabilities (in 1,500 words or less)

– If responding as a developer, please also include:

• For previous projects:

– Total cost of construction (hard and soft) per previous project – Budgets and schedules – Operator/tenant selection process and criteria, if utilized – Occupancy/vacancy percentages, per annum

• Demonstrated familiarity with required public approvals (ULURP, LPC, PDC,

Community Board)

• Demonstrated experience with City requirements (PASSPort, procurement,

insurance, restrictive covenants)

Submission Checklist

Appendix A in the RFEI

Submission Instructions

• Submission by hand or by mail to NYCEDC
• Must provide 8 hard copies and two USB drives each

containing 1 soft copy

• Questions to be submitted by March 5, 5:00 PM by emailing

AREA_RFEI@edc.nyc

• FAQ will be posted by March 19
• First submission deadline: April 2, 4:00 PM

Q & A