THE OPPORTUNITY

The Center City Revenue Finance Corporation (CCRFC) and the Downtown Memphis Commission (DMC) are searching for an economic development consultant to conduct a review of the Downtown Payment In Lieu Of Taxes (PILOT) program. The main purpose of this review is to evaluate whether the current PILOT program is providing the public benefits it was designed to deliver, and to recommend policy changes if necessary.

KEY QUESTIONS

This review will help DMC Staff & the CCRFC Board answer the following key questions:

1. Is the CCRFC PILOT program delivering the desired results of growing the tax base and helping projects happen that couldn't otherwise?
2. Can the But-For Test be formalized to provide clearer guidelines for financial analysis to aid staff review and create a more predictable process for developers?
3. Are there any other policy changes that should be considered to maximize the public benefit of this vital economic development tool?

TIMELINE

• July 30, 2021: Responses due
• August 30, 2021: Consultant selected by DMC staff
• September 2021: CCRFC approves consultant, final budget, and scope of work
• September 15, 2021: Consultant given notice to proceed
• December 14, 2021: Target date for complete first draft of study
• February 2022: Present final study recommendations to CCRFC board

REOI SUBMISSION INSTRUCTIONS

If your firm is interested in this opportunity, please provide the following information in a single PDF:

1. Cover letter & expression of interest.
2. Statement of qualifications & resumes of key staff that will be assigned to the project.
3. List of relevant project experience with links to download the final work product, if public.
4. Client references for 2-3 relevant projects.
5. Any other information needed to communicate the firm's ability to perform the scope of work.
6. Budget estimate for completing the project.

Submission Due Date

All responses to this REOI must be submitted to the DMC by 12:00 PM CST on July 30, 2021. Respondents must submit a digital PDF of the entire submission via email to Abram Lueders at alueders@downtownmemphis.com prior to this deadline. Please format the document to fit 8.5 x 11 size. A maximum length of 15 pages is preferred.

The full REOI, including an outline of the proposed scope of work, can be read here.

If you have any questions, please contact:

Abram Lueders
alueders@downtownmemphis.com
901-575-0565