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* Aohv interested in developing a particular parcel or within a certain zoning district, where <br />the city owns the property or can help facilitate its purchase. Through a competitive <br />process, the city awards development rights t0the "beat''proposal. <br />• A property owner seeking to exit the market or sell a property, where there is an <br />opportunity for interested developers t0purchase and redevelop 0[rehab the property. <br />* Aatate entity awarding funds through a competitive process to projects brought in by <br />developers, but where neither the location nor project detai|aareknovvnvvhenfundingia <br />advertised aaavailable (competition for funding). <br />* Adeveloper searching for asite, who then selects the most ideal location based on <br />market and other research, and markets the opportunity to potential partners. <br />The particular circumstances and complexity ofeach project miUinflU8nn8th8deg[880f <br />time, energy, and money necessary to complete all tasks. Typically, however, these will <br />fall into the following phases. It is important to note also that these ph8G8S are not 8|vv8yS <br />mutually exclusive. Rather, they can besomewhat fluid, where multiple activities are <br />occurring simultaneously. <br />Fi <br />� <br />ure 15: Development Timelines <br />Total Time mpCompletion: 24mp60Months* <br />*Highly dependent on project scale, financial complexity, construction activity type, and other factors <br />~-SAEmWm-_-�m�. <br />Generally speaking, activities for these various stages of development include: <br />CONCEPT/INITIAL PLANNING PHASE <br />* Determine target popu|ation(s) <br />* Locate apossible development site (and attimes several alternatives) <br />* Assess local market conditions <br />* Analyze the local regulatory environment <br />* Contemplate funding sources <br />* Develop astrong project oonoept <br />PREDEVELOPK4ENTPHA8E <br />* Assemble development team reflecting all needed disciplines <br />• Due diligence on the site (e.g., performing an environmental review, ensuring clean title) <br />• Conduct outreach to local governments, housing advocates, community groups, and <br />neighborhood residents, among others <br />* Develop asite plan schematic <br />p Develop project pro -forma and p8rf0[nn 8C8Sh flow analysis <br />HOUSING POLICY PLAN ONE� Hgwsinq formGrowing, mmrivinggeqion <br />