Urban redevelopment for a better Oklahoma City
RFPS
REQUESTS FOR PROPOSALS
A request for proposal (RFP) is a document that solicits proposals to procure a particular service, or achieve a desired outcome -- such as the redevelopment of a particular site. The Oklahoma City Urban Renewal Authority (OCURA) frequently issues RFPs. Proposals must be submitted in accordance with the requirements outlined in the RFP.
THE PROCESS
Typically, OCURA disposes of land by drafting and implementing redevelopment agreements. These agreements are executed as a result of a request for proposal process in which the land is publicly advertised for sale and redevelopment. Prospective redevelopers submit proposals to purchase and redevelop OCURA's property in response to the RFP. OCURA's Board and Executive Director may negotiate with one, or more than one, redeveloper to purchase and redevelop the property, select the redevelopment team(s), approving their plan(s), and evaluating their evidence of financing.
The specific criteria for selection are outlined in each RFP. In addition, the organization evaluates:
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the plan which most effectively advances the goals stated in the OCURA mission statement
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redevelopment teams who are best equipped to implement the plan from the standpoint of their demonstrated qualifications, skills, and experience
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the financing plan that affords the highest probability of successful development, the greatest investment in the community, and the most effective utilization of funds.
Once the team(s) have been selected, their plans reviewed, and their evidence of financing vetted, OCURA 's attorneys negotiate with the redeveloper and draft a redevelopment agreement that outlines:
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the obligations of the redeveloper and OCURA,
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the process for plan approval
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the transfer of the land title
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the scheduled deadlines for the beginning and completion of construction
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the terms for issuance of a certificate of completion which concludes the process and certifies that the redevelopment entity has met all of its obligations under the agreement.
This agreement is, in essence, the redeveloper’s best and final offer. Once the agreement has been approved and executed, the construction timeline begins. After the improvements to the property have been made and the certificate of completion has been issued, the property may be placed in service, sold, or rented, and the redeveloper has no further duties to OCURA.
Receive information, updates, and notification about new and existing RFPs by signing up for OCURA's developer mailing list.
For more information, contact us here.
CURRENT RFPs
Miscellaneous Services RFPs
None at this time.
Harrison Walnut RFPs
None at this time.
Downtown Area RFPs
None at this time.
Core to Shore RFPs
None at this time.
Northeast Oklahoma City RFPs
Commercial RFPs
-Request for Proposals for Redevelopment Property Located at the Northeast Corner of North MLK Boulevard and Northeast 19th Street
Deadline: Thursday, December 12, 2024 at 3 p.m.
Residential RFPs
Deadline: Open ended. Prospective Builder/Developer Checklist