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exists for subsidized housing and how to structure the RFP. ~ It is anticipated that once the market study is completed, a request for information (RFI) will be issued. The RFI will be used to develop a list of interested and qualified proposers who would then respond to the RFP. Discussion: The market study will take 10 -12 weeks to complete. The cost is estimated at $15,000. The State and the Transit District have each pledged up to $5,000 to fund two thirds of the study. The RFI and the RFP will each take 30-45 days to complete including the time necessary for evaluation of proposals. This schedule wifl take approximately 6 months to complete before a private developer is chosen for the site. During the course of our review, parking has been a critical factor in each step of the deliberation. Recommendations for on-site parking have ranged as high as 4 spaces per 1,000 sf for offices, a ratio that cannot be satisfied on this site, to a low of'/z space per housing unit. The low end ratio is based on a Portland development which was close to mass transit and the downtown employment center. Preliminary estimates indicate that the TOD site could support 60-70 residential units and require at least 1 parking space per unit. When bids are received on February 4th, the owners will have the option to consider the addition of 56 parking spaces under the TOD site. While the 56 spaces barely ~, supports a mixed housing development, retail space on the ground floor will still be under-served by parking according to some estimates. The only way to meet these higher on-site parking standards, is to change the management of the entire underground parking garage to a`hunt" or non-reserved system. Parking could then be oversold by 15-20%. If the extra parking is not provided, the impact on development is unknown. Conclusions: It is apparent that parking will be the key to the scope and size of the proposals for this site. The highest use, from a density standpoint, is a mixed development which incorporates affordable housing onto the site and therefore reduces the demand for on-site parking when compared to office uses. The TOD site represents the first opportunity in recent years to develop housing in downtown Salem. To be successful, it must take advantage of it's close proximity to the transit mall and minimize dependancy on the automobile. It also must address the appropriate housing market with respect to income and unit size. Staff recommends that the Board authorize the expenditure of up to $5,000 to fund a housing market study. Other options include: 1. Issuing the RFP and requiring the proposers to conduct the appropriate market studies. ~