EVALUATION AND SELECTION PROCESS

5.1 Evaluation Process. Unless otherwise specified in a particular RFP, the Project Committee will subject Proposals submitted under an RFP process to the following three-phase evaluation, selection and negotiation process, as applicable. All Proposals, evaluations, discussions and negotiations will be kept confidential throughout the evaluation, selection and negotiation process until the signing of the Contract, subject to the provisions of this Regulation: (a) Phase One: Quality Control Review. The Project Committee will determine which Proposals passed the quality control review by satisfying the minimum requirements outlined in the RFP and this Regulation. Failure to meet the Evaluation Criteria and other conditions specified in an RFP or this Regulation shall constitute sufficient cause for failing the quality control review. Each Proponent will be notified in writing by the Project Committee that its Proposal has either failed or passed the quality control review and whether it will be advanced to Phase Two. The Project Committee may extend the duration of the Phase One quality control -23- review, in its discretion, due to the volume of Proposals, the complexity of Proposals, the need for additional information, timely cooperation by the Proponents, or other reasonable circumstances. The Project Committee may reject Proposals that: (i) are incomplete; (ii) do not address the requirements of the RFP; or (iii) do not comply with the requirements of this Regulation. Proposal Security will be returned to those Proponents which Proposals are rejected in Phase One. The Project Committee may, in its discretion, disregard any error or defect in the documents of any Proposal, as long as such matters can be corrected or clarified without prejudice to the Authority. The Project Committee may also reject any and all Proposals submitted in this Phase One, if deemed in the best interests of the Authority. If only one Proposal is received, such Proposal may be considered and advanced to Phase Two if the Board, as recommended by the Project Committee and the Executive Director, determines that it is in the best interests of the Authority to do SO. (b) Phase Two: Project Committee Review and Recommendation. The Project Committee will review and evaluate all Proposals that passed the quality control review. Consistent with the policy goals of transparency and accountability, the Project Committee will establish a publicly accessible anticipated schedule for the review of the Proposals and the negotiation of the Contract, if required. Moreover, at any time during Phase Two, the Project Committee may request additional information from a Proponent regarding its Proposal in order to assist the Project Committee in its review and evaluation of the Proposal. Based upon the review of the Proposals, the Project Committee will select one Proposal or may not select any Proposal. In the event the RFP calls for competitive negotiations, the Project Committee may select one or more Proposals. If none of the Proposals are selected -24- by the Project Committee, each Proponent who had advanced to Phase Two will be notified in writing and their Proposal Security returned. If an RFP calls for a competitive negotiation process, the Project Committee will review and consider the Proposals based on the Evaluation Criteria to determine the ranking of each Proposal. Based on such ranking, the Project Committee will determine the Proposals that are within the Competitive Range. The Project Committee shall make recommendations to the Executive Director, and then, with his concurrence, jointly to the Board to, (A) carry out discussions and negotiations with more than one Proponent at the same time, whose Proposals are within the Competitive Range as contemplated in Section 5.1(c) below; or (B) negotiate with the one Proponent achieving the highest rank and, if unsuccessful, continue successive negotiations in strict order of ranking given to each Proposal, as contemplated in