Loren Data Corp.

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COMMERCE BUSINESS DAILY ISSUE OF AUGUST 8,2000 PSA#2659

Network Acquisition Program, 130 West Kingsbridge Road, MS 10N3ACQ, Bronx, NY 10468-9938

X -- SENIOR AND ENRICHED HOUSING -- MIXED-USE/VA MEDICAL DEVELOPMENT COMPLEX SOL RFP 10N3-215-00 DUE 101000 POC Selah Scott, Contracting Officer, 718-741-4319 or 718-741-4000x3662 or Steven Barry Wallach (Portfolio Manager), 202-565-5818; fax 202-565-5115 The Department of Veterans Affairs (VA) through a Request for Proposals (RFP), is seeking an Asset Manager to plan, develop and manage a public/private partnership and an Enhanced-Use lease project on approximately 175 acres on improved land at VAMC Montrose,Route 9A, Montrose New York. This land includes access to use of Hudson River frontage. The development mechanism would be a long-term (up to 75-years) lease of properties located on the VAMC campus to a Developer who would finance and redevelop these properties into a "development complex" comprised of various private sector and VA uses. The project envisions uses including, but not limited to, afordable senior housing, assisted living, enriched housing or other similar life care services to the public or for such use or combination of uses (e.g. commercial office, institutional and public uses, retail, mixed-use) that would be agreeable to VA. Initial focus will be to develop approx. 60 acres that could include 14 buildings as well as other possible land and structures. The legislative authority for this proposed arrangement is 38 U.S.C. 8161, et seq., "Enhanced-Use Leases of Real Property". The Developer may elect to utilize any or all of the property offered by VA for the term of the lease. The Department may purchase space or services from the Developer in connection with its requirements under the Lease. As part of the consideration dor the Enhanced-Use lease, the Lease shall provide for periodic ground lease rental payments (to be proposed by each Developer) which may be applied by VA toward any VA costs resulting from its use of space services in the development complex. The VA is hosting a pre-proposal conference September 13, 2000 at NOON in bldg. 15, rm. 14 at the VA Hudson Valley Health Care System, Montrose, NY. The purpose of the conference is to familiarize asset manager/developers about various contemplated uses, to identify and discuss potential issues, to present ideas for how the property can best be developed to achieve the VA mission while addressing market objectives. Tours of the land and structures will also be provided. To receive RFP package contact Steven Wallach or Renee Badey at 202-565-5818 or 4307 or fax at 202-565-5115. For specific information about the VA HVHCS, Montrose campus, contact Alan Hitt at 914-737-4400, x2351/2401. Solicitation available O/A 8-21-00 with proposals due 10-10-00. Posted 08/04/00 (W-SN482784). (0217)

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