Sale and Redevelopment of 41 Hurd Street, addenda 3 issued

PURCHASE AND REDEVELOPMENT OPPORTUNITY

41 HURD STREET

Request For Proposals 26-20

Source: DPD – City of Lowell

41 Hurd Street

Lowell, Massachusetts

Issued: August 27, 2025

Submission Deadline: September 30, 2025, 11:00 AM

P. Michael Vaughn,

Chief Procurement Officer Purchasing Department City of Lowell

TABLE OF CONTENTS

39

A. AUTHORIZING LEGISLATION: SECTION 1 OF CHAPTER 158 OF THE ACTS OF 2024 (“AN ACT AUTHORIZING THE COMMISSIONER OF ASSET MANAGEMENT AND MAINTENANCE TO CONVEY CERTAIL PARCELS OF LAND TO THE CITY O LOWELL” or “THE ACT”)

B. SITE PLAN AND GIS MAP CITY OF LOWELL

C. FUNDING OPPORTUNITIES

D. DRAFT LAND DISPOSITION AGREEMENT

E. DRAFT PROVISIONAL DESIGNATION AGREEMENT

F. COVER SHEET

G. MEMORANDUM OF AGREEMENT AMONG MASSACHUSETTS DIVISION OF CAPITAL ASSET MANAGEMENT, CITY OF LOWELL, LOWELL HISTORIC BOARD, AND MASSACHUSETTS HISTORICAL COMMISSION REGARDING LOWELL DISTRICT COURT. (THE “MOA”)

H. DISCLOSURE OF BENEFICIAL INTERESTS IN REAL PROPERTY TRANSACTION

I. Property Deed

J. MEPA Agreement Form

K. Massachusetts Historic Commission (“MHC”) Letter

Source: DPD – City of Lowell

SECTION 1 | OVERVIEW

1-1 Request for Proposals

Through this Request for Proposals (“RFP”), the City of Lowell (“Lowell” or the “City”) solicits sealed proposals for the purchase and mixed-use development of the property located at 41 Hurd Street, Lowell, Massachusetts 01852 (the “Property”). The Property contains 57,013+/- square feet of land, located in the Downtown Mixed Use Historic District (“DMU”), the Downtown Lowell Historic District, as well as the Multi-family Overlay – Mid-Rise (“MFOM”). The site of the former Lowell District Court (the “Courthouse”), the Property is shown on the site plan attached as Appendix B. This RFP presents a unique opportunity for mixed-use development, with a focus on residential development located in the Downtown of the City.

Previously owned by the Commonwealth of Massachusetts, the City of Lowell and Massachusetts Division of Capital Asset Management and Maintenance (“DCAMM”), entered in a partnership that aims at redeveloping this property given its optimal location and potential for increasing housing production.

The Courthouse opened in 1925 and closed in 2020. On April 18, 2025, DCAMM, the City, and the Massachusetts Historical Commission (“MHC”) entered into a “Memorandum of Agreement among Massachusetts Division of Capital Asset Management and Maintenance, City of Lowell, and Massachusetts Historical Commission regarding Lowell District Court” (the “MOA”) setting forth stipulations regarding the disposition and redevelopment of the Property. A copy of the MOA is attached as Appendix G.

DUE DATE

Sealed bids are due on: September 30, 2025 and will be publically opened, at City Hall in the Purchasing Department, Room 60, 375 Merrimack Street, Lowell, MA 01852, at 11:00 AM, EST/EDST, for the work described herein. BIDDERS ARE REQUIRED TO SUBMIT A BID INCLUDING ALL BID FORMS CONTAINED IN THIS PACKAGE. DO NOT REMOVE PAGES.

All questions shall be submitted to the City no later than September 12, 2025 by 5:00 p.m. Answers to questions shall be posted via an addendum on the City’s website no later than September 18, 2025.

SITE INSPECTION

A site inspection is scheduled September 9, 2025 at 9:00AM meet at the 41 Hurd Street, Lowell, MA 01852. While attendance is not required, interested proponents are strongly encouraged to attend.

Please further note that the City will post the date for an information session for prospective developers on the website: Bid Postings • Lowell, MA • CivicEngage during which MHC and the Lowell Historic Board will have an opportunity to present information related to historic preservation of the Property. While attendance at this information session is not required, prospective proponents are strongly encouraged to attend

City of Lowell Overview

Lowell was incorporated in 1826 to serve as a mill city. The city became known as the cradle of the American Industrial Revolution because of its textile mills and factories. Many of Lowell's historic manufacturing sites were later preserved by the National Park Service to create Lowell National Historical Park. Lowell is the fifth most populous city in Massachusetts, with an estimated 115,554 residents, and, as of the last census, was the third most populous in the Boston metropolitan statistical area. The city is part of the smaller Massachusetts statistical area called Greater Lowell and is also part of New England's Merrimack Valley Region.

One of twenty-six “Gateway Cities” in the Commonwealth of Massachusetts, Lowell is home to two institutions of higher education: University of Massachusetts Lowell (“UMass Lowell”), part of the University of Massachusetts system and Middlesex Community College. Arts facilities in the City include the Whistler House Museum of Art, the Merrimack Repertory Theatre, the Lowell Memorial Auditorium and Sampas Pavilion. In sports, the city has a long tradition of boxing, including hosting the New England Golden Gloves boxing tournament. UMass Lowell has a baseball stadium, Edward A. Lelacheur Park, and a multipurpose sports arena, Tsongas Center, both of which have hosted collegiate and minor league professional sports. The City has a median household income of $64,489.00, and a median housing price of $429,900.00, offering plenty of opportunity for growth. Lowell has a large and diverse workforce with close proximity and easy access to Boston, New Hampshire, Rhode Island, Maine and Connecticut.

Lowell is a community that thrives in its diversity and enjoys a healthy mixture of people of different races and ethnicities living close to one another. The five (5) largest ethnic groups in Lowell are White (Non-Hispanic) (48.3%), Asian (Non-Hispanic) (22.2%), White (Hispanic) (9.93%), Black or African American (Non-Hispanic) (8.16%), and Other (Hispanic) (3.72%)1. Specifically in the tract in which the Property is located, 12.9% of households speak Spanish or Spanish Creole, according to the US Census Bureau. Lowell is a community with multi-lingual households that represents a great investment opportunity for economic development and social resiliency that is an asset and sets the City apart from several of its surrounding communities.

The diversity of Lowell manifests itself in an established commercial business network of manufacturing, food production, arts, education, life sciences, electronics, healthcare, residential development, restaurants and minority-owned and small businesses. Lowell is an ideal location for doing business in a metro area with a Department of Planning and Economic Development that is ready to assist developers.

Location and Transportation

This Downtown Property offers easy access to major thoroughfares, such as Route 3 and Route 495 via the Lowell Connector Highway. Further, the Property is located within one half-mile of the Gallagher Transportation Center (“Gallagher Terminal”), which serves as the Northern terminus of the Lowell Line and provides direct access via a 45-minute ride to Boston’s North Station as part of the MBTA commuter rail system. Gallagher Terminal is accessible from Downtown Lowell via the newly finished Lord Overpass roadway, which includes dedicated bus lanes and shared paths for active, sustainable mobility.

Area Description

The property is located at the intersection of Hurd, George, and William Streets, in the Downtown Lowell Historic District, an energetic and diverse area of the City. This neighborhood features a blend of commercial and institutional spaces and is situated directly across from the Lower Locks Municipal Parking Garage.

The surrounding area offers convenient on-street parking and a pedestrian-friendly environment, enhanced with tree-lined streets, seating, lighting, and seasonal outdoor dining options. Additionally, the site is approximately three-quarters of a mile (a 10–15 minute walk and a 7 minute ride on Bus 20 of the LRTA system) from the Gallagher Terminal.

1. Data USA www.datausa.io

1-2 Redevelopment Goals

In order to support multifamily development, the City recently adopted three new multi-family overlay districts near the Gallagher Terminal to promote transit-oriented development. The Property is located in the Multi-Family Overlay Midrise (MFOM), which encourages development near transit in order to reduce the need for parking and fosters a walkable, pedestrian-friendly environment to activate the community and support local businesses. The City envisions no parking requirements at the Property, to be used as an economic development tool to generate a Downtown that is pedestrian-friendly and supports active mobility. The goal for this development project is to create housing opportunities, strengthen the community, and allow residents to remain in the City in a manner that preserves the social and economic resiliency in Lowell.

The City of Lowell is issuing this RFP to solicit proposals that:

• Meet or exceed the requirements of this RFP;

• Provide the vision, experience, and financial commitment to redevelop the Property within an expeditious time frame as stated in the evaluation criteria found in the Appendix list;

• Propose a mix of uses, which may include commercial uses and housing creation opportunities in alignment with the qualification criteria found in the Appendix list;

• Demonstrate a viable development plan that is aligned with the MFOM to reduce auto dependency and roadway congestion;

• Provide a development plan that encourages a mix of moderate and high-density development and promotes a pedestrian friendly environment where residents are encouraged to walk, shop and do business in Downtown Lowell; and

• Propose a design alternative to traditional development by creating mixed-use space, with diverse housing options, in a high-density pedestrian-oriented area to encourage walking, bicycling and transit use.

• Protect character-defining features of the historic courthouse and making new additions compatible with the scale and style of the surrounding district

1-3 Diversity and Inclusion Goals

The City of Lowell is strongly committed to ensuring that the sale and redevelopment of 41 Hurd Street provides opportunities for businesses and individuals that have been historically underrepresented in development projects of this size and scope.

Accordingly, Lowell is placing a high priority on proposals that maximize the level of minority- owned and women- owned business enterprise, ("MBE/WBE"), Portuguese and Veteran businesses (“PBE/VBE”), Service-Disabled Veteran (SBVOBE), Lesbian, Gay, Bisexual and Transgender (LGBTBE) and Disability-owned (DOBE) businesses participation in all aspects of the development and operation of the project.

Proposals will be evaluated to determine the extent to which they include meaningful participation by one or more of the above-referenced groups in three activity areas: 1) development, financing, and ownership; 2) design and construction aligned with TOD; and 3) operation of the project. Lowell's objective is to select a project team that is committed to creating a program to achieve the diversity and inclusion goals that represent the Lowell community. The City will require an explanation as to how proponents will engage in good faith efforts aimed at achieving meaningful participation by M/WBEs.

1-4 Response Process

The process involves the submission of proposals responsive to this RFP; review by the City of timely and properly submitted proposals; selection of the most advantageous proposal as determined in the City of Lowell's discretion; execution of a Provisional Designation Agreement (“PDA”) by the selected developer (“Designated Developer”), which will establish short-term conditions to be met by the developer; and execution of a Land Disposition Agreement (“LDA”) which will culminate in sale of the Property. Please refer to Section 4 for the selection process.

Before submitting a proposal, proposers should review the sample PDA attached to this RFP as Appendix E and the sample LDA attached to this RFP as Appendix D. The submission of a proposal will be deemed to constitute a representation by the proposer that, if selected, the proposer will execute a PDA and a LDA that are both substantially in accord with the sample PDA and LDA attached to this RFP.

The Designated Developer will be expected to complete the milestones in the PDA within a period of 90-days from selection (“Due Diligence Period”), which may only be extended by written approval of the City.

Following the expiration of the Due Diligence Period, the Designated Developer and the City will enter into a binding LDA, in final form and substance acceptable to the City. It is anticipated that the closing of the sale of the Property will take place within 90 days of execution of the LDA, which may only be extended by written approval of the City.

1-5 Schedule

• RFP release: August 27, 2025

• Site visit/open house: September 9, 2025 at 9AM; additional dates may be added at The City of Lowell’s discretion.

• Final date to submit questions via City of Lowell’s website: https:// www.lowellma.gov/bids.aspx

• All responses to questions posted via City of Lowell’s website: September 12, 2025 at 5pm

• RFP responses due: September 30 2025 at 11am

Proposals must be received by the City of Lowell at the address specified in this RFP not later than September 30, 2025 at 11am

1-6 Site Visit

Site tours will be held on September 9, 2025 at 9AM. Any changes to site tour dates will be posted on the City of Lowell website. In the event of inclement weather on the scheduled site tour dates, please check the City of Lowell website for information regarding potential cancelation/reschedule dates. https:// www.lowellma.gov/bids.aspx

1-7 RFP Posting, Amendments and Questions

This RFP will be posted on the City website: Purchasing | Lowell, MA (lowellma.gov)

The City, in its sole discretion, will endeavor to answer all questions, submitted to PurchasingOffice@lowellma.gov by September 18, 2025 at 5:00 p.m., and any responses will be posted on the City website. The City will not respond to questions submitted after [xxxx]. An addendum with questions and answers will be posted on the City website no later than five business days prior to the RFP deadline.

Any RFP amendments, clarifications, changes or updates (including changes to any dates and deadlines), and any City responses to proposers' questions will be posted on the City website only. It is the sole responsibility of prospective proposers to check the City website regularly for new information, addendum, corrections, clarifications, or extensions to this RFP. Only the RFP and communications posted on the City website will be binding concerning this RFP. Any oral communication from or to the City will not be binding on the City. The City of Lowell will not provide any accommodations to proposers who fail to check the website or who misinterpret any information posted in connection with this RFP.

SECTION 2 | Property Description

2-1 Property Overview

The Property is located in the Downtown corridor of Lowell, Massachusetts. Proposers are encouraged to review the Multi-family Overlay – Midrise (“MFOM”) requirements which can be found at Lowell Zoning Ordinance.

The Property identified as 41 Hurd Street, Lowell, Massachusetts 01852 with an Assessors Parcel ID No. 0179 3130 0027 0000, and shown on GISMap as ID 3130-27. The deed is recorded at Book 0707, Page 0114 (attached as Appendix I). The legal area is 57,013+/- square feet and the land is zoned Downtown Mixed Use District (“DMU”) and is located in the MFOM. The City aims for this Property to serve as a vehicle to implement several goals recently established in the Lowell Forward Master Plan . Some of the objectives from the Master Plan that are pertinent to the redevelopment of this property include:

• Engage communities to identify priority development sites for multifamily housing;

• Adjust zoning regulations to allow needed housing typologies;

• Provide convenient access to, and navigation toward, transportation options;

• Expand housing choice in all residential areas;

• Reduce energy consumption in existing buildings and new construction;

• Test and implement actions to reduce commercial vacancies;

• Enable diverse housing options in Downtown;

• Advance and coordinate departmental efforts to improve walkability and vibrancy in Lowell’s Downtown;

• Advance planning of vacant and underutilized lots for infill;

• Incentivize transit-oriented development around the Gallagher Terminal;

• Strengthen connections between neighborhood centers and institutional anchors;

• Identify space, design, and infrastructure needs for Downtown Lowell businesses.

2-2 Preservation Considerations

Proposers should consider the following principles in preparing development plans:

• The Property is listed on the State Register of Historic Places through inclusion in the Downtown Lowell Historic District , a local historic and architectural review district established pursuant to the Lowell Historic District Act (Chapter 566, Acts of 1983).  As such, proposed projects must follow the design review standards, permitting, and approval processes of the Lowell Historic Board as well as the requirements of the MOA between MHC, DCAMM, Lowell Historic Board, and the City of Lowell found in Appendix G

• Proposers are strongly encouraged to obtain information on state historic rehabilitation tax credits found on the MHC’s website at http://sec.state.ma.us/mhc .  Information on the federal historic rehabilitation tax credits can also be found at https://www.nps.gov/tps/tax-incentives.htm and proposers could consider listing on the National Register of Historic Places to utilize those credits.

Please note that the City will post the date for an information session for prospective developers on the website: https:// www.lowellma.gov, during which MHC and LHB will have an opportunity to present information related to historic preservation of the Property. While attendance at this information session is not required, prospective sproponents are strongly encouraged to attend.

Source: DPD – City of Lowell

2-3 Building Information

The Property is a 57,013 +/- square foot lot improved by a GLA of 58,686 +/- courthouse/office building in poor, substandard condition. The building is primarily of masonry construction and contains two stories and a basement.

Constructed by the Commonwealth in three stages, the original courthouse was constructed in 1924-25 (designed by architect Charles Greco), two wings were built in 1945 (as well as a surface parking lot to the rear), and a final addition in 1967.

In the last quarter of 2023, the City and DCAMM entered into an agreement to repurpose the Property and convert it into a development better aligned with the economic, social, and environmental goals of the City. Pursuant to An Act Authorizing the Commissioner of Asset Management and Maintenance to Convey Certain Parcels of Land to the City of Lowell, otherwise known as Chapter 158 of the Acts of 2024 (Appendix A) , the City now has the full capacity and authority to sell or lease the Property. Given the pressing housing needs in the country, the Commonwealth, and in the City, the City expects the maximization of residential development, and the highest possible density at the Property allowed within the MFOM overlay.

PARKING INFORMATION

Downtown Lowell has several public and private parking opportunities available. In close proximity to this property, the City of Lowell owns and operates the Lower Locks structured parking garage located at 90 Warren Street. This facility is available with a variety of pricing options, including 24/7 access. Furthermore, the property subject to this RFP also has an existing surface parking lot.

Exterior Photos

Source: DPD – City of Lowell

2-4 Utilities and Infrastructure

The Property has access to electrical, gas, water, and sewer infrastructure. The Designated Developer will be responsible for conducting investigations to confirm the location of these and/or any additional utilities on the Property.

2-5 Building Condition Information

The Property is offered for sale and will be conveyed as-is, where-is and with all defects. Proposers must independently confirm building and environmental site conditions. The City makes no representations or warranties whatsoever regarding any building or environmental conditions. The Designated Developer will have the opportunity to undertake a non-invasive inspection of the Property prior to the execution of the LDA. The LDA will require the Designated Developer (and guarantor, if applicable) to indemnify and hold the City of Lowell harmless from and against all loss, costs, and damages due to the environmental condition of the Property.

2-6 Zoning

The Property sits within the underlying DMU and the MFOM, surrounded by a residential and commercial corridor. For allowed uses, dimensions, and other provisions, proposers should review the current City of Lowell, Massachusetts - Code of Ordinances, Comprehensive Zoning.

The Designated Developer will be responsible for confirming and complying with applicable zoning requirements. Comprehensive zoning for the City of Lowell in its entirety is available online here .

Because the Property is within the Transit Oriented Development MFOM, the expectation within this zoning district is to encourage the production of housing. Accordingly, The City expects the proposed developments on this site to maximize the allowable density for housing.

2-7 Easements

The Property will be conveyed subject to all restrictions, easements, and encumbrances of record and/or shown on the Site Plan if applicable.

The City may retain or reserve any existing or new rights, easements or licenses for utilities or infrastructure including, without limitation, water, sewer, electric, drainage, telecommunications, sidewalks, roadways and parking over, under or upon the Property, as may be reasonably necessary. The Purchase and Sale Agreement may provide that with the City’s consent and at the Designated Developer’s sole expense, the Designated Developer may relocate any such right or easements retained or reserved by the Commonwealth from time to time on the Property, so long as the relocation does not result in any material interruption of utility or other services being provided to the City’s land by use of such rights and easements, and subject to any restrictions as may be specified in this RFP or the LDA.

2-8 Title

Proponents are fully responsible for conducting their title examination to ensure that the title to the Property is clear. To the best of the City’s knowledge, the City is the owner of the Property thanks to the partnership established through An Act Authorizing the Commissioner of Asset Management and Maintenance to Convey Certain Parcels of Land to the City Of Lowell. Further, to the City’s knowledge, the title is not encumbered further than what is noted in this Request for Proposals. However, the City makes no representations or warranties as to the accuracy of any title examinations it may have conducted and strongly recommends that proponents conduct their own title examinations. The City further recommends that proponents commission their own boundary surveys to determine the existence of any encroachments that could exist.

SECTION 3 | SUBMISSION REQUIREMENTS

3-1 Proposal Contents

All proposals must include the following materials and information:

A. Deposit Check

B. Letter of Transmittal

C. Proposal Cover Sheet

D. Developer Information

E. Conceptual Development and Design Plan

F. Financial Information (Including a pro-forma)

All proposals must be unconditional, meaning the City will not be responsible for any repairs, improvements or financial contributions by the City or any request for adjustment of the purchase price, for any reason whatsoever.

3-2 Deposit Check

All proposals must be accompanied by an application fee of $390,000 in the form of a certified cashier’s, treasurer’s or bank check made payable to the City of Lowell (the “Application Fee”). Bid deposits will be held by the City in a non-interest-bearing escrow account. Application Fee(s) will be returned to non- selected proposers after the LDA with the Designated Developer is executed. The $390,000 application fee paid by the Designated Developer shall be nonrefundable upon execution of the LDA. An additional deposit equal to 10% of the purchase price will be required at the time of execution of the LDA. The appraised value is $3.9 million

3-3 Letter of Transmittal

The proposal must include a one-page letter of transmittal signed by the principal(s) of the proposer.

3-4 Proposal Cover Sheet

The proposal must include a completed Proposal Cover Sheet in the form provided in Appendix F as a sample.

3-5 Developer Information

The proposal must include a description of the development team, the individuals and organizations to be involved in the purchase and their experience, as well as references. This description must include the following information:

A. The name, address and telephone number of the principal members of the proposer team, the name(s) of the representative(s) authorized to act on the proposer’s behalf, and the name of the principal designated as the contact to which all correspondence should be addressed.

B. Proposers should identify if their team includes a minority- owned and women- owned business enterprise, ("MBE/WBE"), Portuguese and Veteran businesses (PBE/VBE), Service-Disabled Veteran (“SBVOBE”), Lesbian, Gay, Bisexual and Transgender (LGBTBE) and Disability-owned (DOBE) businesses. This description should detail the nature of the participation and explain proposed roles in all aspects of the development and operation of the project. Where partners have not yet been identified, proposals should indicate what steps will be taken or are being taken to identify MBE/WBE participation.

C. If the proposer is not an individual doing business under the proposer's name, the proposal must describe the status of the entity (whether a non-profit or charitable institution, a general, limited, or limited liability partnership, a for-profit corporation, limited liability company, unincorporated association, or joint venture) and indicate the jurisdiction in which it is registered to do business. Proposals shall provide the exact name and legal status of the entity to be named as purchaser in the LDA (if different from the proposer).

D. The proposal shall detail primary responsibilities of every member of the development team and provide a summary of the development team’s experience, collectively and individually, with similar projects. Demonstrate a proven track record in all phases of project development, including permitting, financing, design, and renovation/construction. Please provide at least three (3) professional references.

E. The proposal shall identify any project partners who are participating in the proposal and a description of the nature and degree of their involvement and commitment to the project described in the proposal.

F. The proposal shall describe the organizational structure of the development team and a plan for the maintenance of effective communications between the City and the development team during all phases of the project.

G. The proposal shall identify and summarize the nature of any legal or administrative action filed or brought against the proponent, the development team, or any constituent thereof in courts or administrative agencies within the past five years.

H. The proposal shall confirm that the proposer, the development team, and any constituent thereof is not in arrears with respect to any local, state, or federal taxes.

3-6 Conceptual Development and Design Plan

Proposals should address conditions and milestones necessary for implementation of the development proposal: e.g. site planning/engineering, environmental approvals, applicable local, state and federal zoning and permitting approvals, MEPA compliance, infrastructure improvements, historic regulations, financing commitments, construction coordination and demonstration that construction and occupancy will be completed largely on schedule, and other steps required to demonstrate the likelihood of project success.

The proposal must include:

A. Conceptual plan for the design of the Property represented in a site plan, schematic elevations, and typical floor plans. Include any other useful plans depicting the proposed development and how it meets the criteria contained in this RFP.

B. A detailed narrative description of the proposed redevelopment concept and the specific nature of the proposed use(s). All proposals must include a narrative with details of the site design; building massing; proposed gross square footage and the area allocated to each of the proposed uses, parking and landscaping; and the relationship of the project to the surrounding buildings and neighborhood.

C. A list of all required local, state, and federal zoning land use and environmental permits and approval requirements, as well as all applicable licensing/operating permit requirements, and a projected schedule for securing them.

D. Schedule that includes proposed timetables for design, permitting, financing, marketing, completion of construction and anticipated occupancy

E. Demonstration of financial feasibility of the proposal, including anticipated source and use of funds as well as an operating pro forma. An outline of potential supplemental funding sources for exploration by the Developer is included in this RFP as Appendix C. This information must be included in the separately sealed envelope for the Financial Submission.

F. A plan for the ongoing management and operation of the redeveloped property, including proposed operators and their experience.

3-7 Financial Submission

It is required that the Financial Submission (including the proposed purchase price and all other financial information requested below) be included in a separate and appropriately labelled file, apart from all other sections of the proposal.

The financial information must include the following:

A. Purchase Price. The proposal must state an unconditional purchase price in a form signed by the development team.

B. Beneficial Interest Disclosure Statement. The proposal must include a signed Disclosure Statement of Beneficial Interest (See Appendix H)

C. Expenses. The proposal must include an acknowledgement that, in addition to the purchase price, the Designated Developer will pay for all costs incurred by the City in connection with the sale of the Property. These costs include, but are not limited to, real estate consultants, appraisals, survey, and architectural, engineering, and legal expenses.

D. Financial Documents. The proposal must include a financial certification to be signed by the principal or senior officer of the proposer confirming, among other matters, that its investment team has the financial strength to close the sale with the City in accordance with the terms and conditions of the LDA, and to develop the Property to completion in accordance with the proposer’s development plan.

In addition, the financial submission must include the following:

• Financial Statements or Annual Reports for the three most recent fiscal years;

• Interim Financial Statements for Proponents (if applicable, most recent month ending within thirty days); and

• Financing commitments or project specific letters of interest from recognized funding sources.

Further, the financial submission must include:

• A description of the development program;

• Development Cost Pro Forma (all costs identified must be supported by realistic funding sources and uses must equal sources);

• Stabilized Operating Pro Forma; and

• Fifteen-Year Operating Pro Forma.

In addition to the pro forma spreadsheets, the Proposal must include a narrative that describes the following:

• An implementation plan for the proposed development, including a development schedule with key milestone dates and projected occupancy date. The development schedule should outline the required regulatory approvals for the proposed development and the anticipated timing for obtaining such approvals;

• All contingencies, specifying whether for hard costs, soft costs or total costs, design or construction, financing or other critical components of the total project costs;

• Sources of debt and equity for the total project cost;

• All assumptions regarding financing terms on, pre-development, construction, and permanent loans;

• Any other project-related expenses not included in the above categories; and

• Calculation of total project costs.

After the submission of proposals, proposers may be asked to submit additional financial information for review in form and substance acceptable to the City in its sole discretion.

3-8 Submission Deadline

To comply with this RFP, one (1) original hard copy of the proposal containing all the material and information required by this RFP, along with electronic versions (one USB drive for the development proposal and one USB drive for the financial submission) of the complete proposal must be received by September 30, 2025 no later than 11:00 AM ("Submission Deadline") by the City at the following address:

City of Lowell Purchasing Department,
City Hall 375 Merrimack Street, Room 60

Lowell, Massachusetts 01852 Attn: P. Michael Vaughn

It is required that the Financial Submission (including the proposed purchase price and all other financial information requested below) be included in a separate and appropriately labelled file, apart from all other sections of the proposal.

Envelopes must be marked: "Proposal for Purchase and Redevelopment of 41 Hurd Street Lowell, MA 01852." Do not open until September 30, 2025"

3-9 Submission Procedures

Timely proposals will be opened after 3PM on the Submission Deadline date in the offices of the City of Lowell, at which time only the names and addresses of proposers will be made public.

Proposals will be time-stamped as they are received, and the City's time stamp shall be controlling. No late proposals will be accepted. Any proposals received after the date and time specified in this RFP will be rejected as non-responsive, and not considered for evaluation.

The City has attempted to be as accurate as possible in this RFP, but is not responsible for any unintentional errors herein. No statement in this RFP shall imply a guarantee or commitment on the part of the City as to potential relief from state, federal or local regulation. The City reserves the right to cancel this RFP at any time until proposals are opened, or reject all proposals after the proposals are opened if it determines that it is in the best interest of the City to do so. The City reserves the right to waive any minor informalities.

The City reserves the right to seek clarifying information from proponents in writing. If requested, clarifying information will be used only to further the City’s understanding of the original proposal submitted. Proponents will NOT be allowed to change the content of their submission after the submission deadline; proposals, including the price offer, must be best and final at the time of submission.

The City will not accept any information or materials submitted after the Submission Deadline unless such information or materials are provided in response to the City ‘s request for clarifying information.

The proposal must be in a sealed envelope addressed and marked as follows:

Your Name

Your Return Address SEALED PROPOSAL -

Purchase and Redevelopment of 41 Hurd Street, Lowell Purchasing Department City Hall, 375 Merrimack Street Room 60 Lowell , Massachusetts 01852

Attn: P. Michael Vaughn

DO NOT OPEN UNTIL AFTER: September 30, 2025, at 11:00 AM

If the proposal is sent via Express Mail, Federal Express or similar courier, the proposal must be in a sealed inner envelope addressed and marked as shown above.

It is required that the Financial Submission (including the proposed purchase price and all other financial information requested below) be included in a separate and appropriately labelled file, apart from all other sections of the proposal.

~Portuguese Rooster Mural located at Antonio’s Restaurant on Coggeshall Street in New Bedford by artist TomBob

SECTION 4 | SELECTION PROCESS

4-1 Selection Process Overview

The City will review and evaluate all proposals that have been received by the Submission Deadline. Evaluation of the proposals will be based on:

• If the information provided in the proposal is in accordance with the submission requirements.

• Any interviews, references and additional information requested by the City.

• Any other information from publicly available and verifiable sources.

During the selection process, the City reserves the following rights: to negotiate with one or more proposers; to waive portions of the RFP; to waive any minor informalities; to request “best and final” offers; to reject any or all proposals; to cancel the RFP, and to issue a new RFP, for any reason deemed appropriate by the City.

The City is not obligated to select the proposal that offers the highest purchase price. The successful proposal will be the one that is most advantageous to the City and best meets the selection criteria.

Upon selection, the designated developer will be required to submit the following to the City:

A. A signed Disclosure Statement of Beneficial Interest. (See Appendix H)

B. A signed MEPA Form (See Appendix J).

C. Any other documents as required by the City.

4-2 Evaluation Criteria

Proposals received by the Submission Deadline will be evaluated in accordance with the following selection criteria listed in no particular order:

• The proposal’s conformity and compatibility with the provisions of this RFP.

• Financial feasibility of the proposal.

• The level of inclusion of a minority- owned and women- owned business enterprise, ("MBE/WBE"), Portuguese and Veteran businesses (“PBE/VBE”), Service-Disabled Veteran (“SBVOBE”), Lesbian, Gay, Bisexual and Transgender (“LGBTBE”) and Disability-owned (“DOBE”) businesses. This description should detail the nature of the participation and explain proposed roles in all aspects of the development and operation of the project. Where partners have not yet been identified, proposals should indicate what steps will be taken or are being taken to identify MBE/WBE participation. The extent of the diversity of the team will be gauged as stated in the qualification criteria found in the Appendix list.

• Relevant experience of proposer’s team to facilitate expedient development of the

Property.

• Impacts upon, and benefits to, the surrounding community.

• Overall benefits to the City of Lowell, including the financial benefits of the Price Proposal.

• Ability of the proposer to perform successfully and to acquire, complete construction and secure a certificate of occupancy for the Property on a schedule acceptable to the City. Such a determination is a function of the proposer’s qualifications and ability to successfully carry out the project in an expedient manner, as evidenced by their professional record, overall financial qualifications, etc., as well as the extent to which the proposal is feasible.

• Degree to which proposals preserve the architectural character of the complex.

Residential Opportunities

Highly Advantageous – A proposal that maximize the amount units and includes a certain percentage of affordable units as part of its project.

Advantageous – A proposal that maximize the amount units and does not include a certain percentage of affordable units as part of its project.

Not Advantageous – A proposal that does not maximize the amount units and does not include a certain percentage of affordable units as part of its project.

Commercial / Employment Opportunities (if applicable)

Highly Advantageous – A proposal that includes retail uses at the ground floor to activate the public realm.

Advantageous – A proposal that includes limited retail uses at the ground floor to activate the public realm.

Not Advantageous – A proposal that will not develop any develop commercial retail space.

Financial Plan

Highly Advantageous – The proposal that clearly demonstrates the Proposer’s financial capacity to complete the development.

Advantageous – The proposal that reasonably demonstrates the Proposer’s financial capacity to complete the development.

Not Advantageous – The proposal that either does not demonstrate the Proposer’s financial capacity to complete the development.

Development Plan/Project Schedule

Highly Advantageous – A proposal that has a development plan that demonstrates a well-planned

use of the Property, development experience, and a development team that shows credible

expertise in developing this property in a timely manner.

Advantageous – A proposal that has a development plan that somewhat demonstrates a well-planned use of the Property, development experience, and a development team that shows credible expertise in developing this property in a lengthy manner.

Not Advantageous – A proposal that either does not have a development plan that demonstrates a well-planned use of the Property, development experience, or a development team that shows

expertise and has an unclear timeline.

Sustainable and Resilient Building Design

The City of Lowell strongly supports the Energy, Climate, and Environment goals found in the Lowell Forward Master Plan and encourages proponents to adhere to such goals as part of their proposed development. The Plan can be found on the City’s website here lowellma.gov/DocumentCenter/View/27086/Lowell-Forward---Final-Draft ...