MIRACLE CITY TERMS OF REFERENCES OF THE

DEVELOPMENT OF BUSINESS PLAN

Date: 24 th April 2025

Background and Context

Authentic Word Ministry has a vision of preparing the Bride of Christ wholistically, the attainment of this vision is strategically set into two arms namely Zion Temple Celebration Center in charge of spiritual aspect while Authentic Development Agency (ADA) in charge of development with tangible things (Physical). Authentic Development Agency (ADA) is committed to driving impactful socioeconomic transformation, aiming to improve the quality of life for communities including Zion Temple Celebration Center (ZTCC) members and other denominations. ADA's objectives are multifaceted, focusing on socioeconomic development under its first section of Samaritan Heart (Charitable section) as well as supporting initiatives geared towards sustainable investment and inclusive growth under its second section which is Business and investment section called TC KIRA Investment Group Ltd. The development of a “Miracle City” is one of the TC KIRA Investment Group Ltd.’s priority initiative as a phase one. Indeed, the Miracle Center Development project is a landmark real estate development designed to provide a blend of affordable and modern urban living in an environmentally conscious setting. The project involves the construction of 7 G+5 apartment blocks, offering 283 residential units across one-, two-, and three-bedroom configurations. It will cover 5 hectares of land and incorporate recreational and eco-friendly facilities; the project seeks to contribute to Kigali’s urbanization while generating sustainable commercial returns. With the architectural design, details drawings, Bill of Quantities (BoQ), and sustainability strategy already in place, the TC KIRA Investment Group Ltd now seeks a consultancy engagement to commercialize the project, assess its financial viability, and develop strategies for funding and implementation.

Objectives of the Engagement

The primary objective of this engagement is to support the TC KIRA Investment Group in

transforming the Miracle City Project from a well-designed concept into a viable, sustainable, and

investable commercial venture. Specifically, the engagement will:• Design a commercially viable and scalable business model.

• Assess project financial feasibility and develop robust financial models.
• Propose an optimal capital structure and funding strategy.
• Identify and mitigate potential risks.
• Support capital raising and project implementation.

Scope of Work

Business Model Development

• Define a commercial real estate strategy for rental, lease-to-own, or outright sales.
• Segment target markets based on unit types, price points, and payment terms.
• Analyze revenue generation models (rental income, service fees, management contracts).
• Develop pricing strategy and cost recovery mechanisms.
• Outline operational model and service delivery (property management, maintenance,security).

3.2 Financial Modeling and Viability Assessment

• Construct a dynamic financial model incorporating:
• Construction costs
• Operating costs
• Financing costs
• Projected revenues (by unit type and occupancy rate)
• Cash flow projections
• Conduct sensitivity analysis (occupancy rates, cost overruns, interest rate fluctuations).
• Evaluate Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period,

DSCR, etc.

3.3 Capital Structure and Funding Strategy

This component of the engagement will deliver a comprehensive capital structuring and

financing roadmap that ensures the Miracle City Project is financially sound, investor-ready, and

aligned with long-term profitability and risk-sharing principles. Specifically, the engagement

will:

Define Capital Structure Options

Evaluate and propose an optimal capital mix including:

• Equity (sponsor contributions, co-investors)
• Debt (senior loans, concessional finance, commercial lending)
• Mezzanine or hybrid financing
• Grants or subsidies (if applicable)
• Structure capital to optimize cost of capital, manage risk exposure, and enhance return on equity (ROE).

b. Assess Investment Approaches

Direct Investment Approach:

• Investors participate directly in the project (e.g., joint ownership with the Church/Agency).

Indirect Investment Approach via Special Purpose Vehicle (SPV):

• Recommend establishing an SPV (e.g., Miracle City Ltd) to ring-fence the
• project, improve transparency, and facilitate third-party investment
• Facilitates exit strategies, dividends, or asset disposals.
• Provide a comparative assessment and advise the most strategically suitable approach in

light of:

• The faith-based ownership structure,
• Legal and tax implications,
• Investor expectations,
• Operational efficiency.

Financing Strategy

• Develop a phased financing strategy (pre-construction, construction, and post construction).
• Identify and categorize potential funders, such as:
• Local and regional banks
• Real estate-focused private equity funds
• Development Finance Institutions (e.g., Shelter Afrique, IFC EDGE)
• Faith-aligned impact investors and diaspora investors
• Map investment readiness requirements for each funding source (e.g., IRR threshold, ESG compliance, governance structure).
• Align financing terms (tenure, grace period, interest, exit options) with project cash flow projections.

Investor Engagement Framework

• Develop tailored engagement and pitching materials for each investor category.
• Propose governance structures for co-investment partnerships.
• Outline onboarding, due diligence, and legal documentation processes.

Risk Identification and Management

• Identify and assess risks across development, financial, operational, regulatory, and market dimensions.
• Classify risks by likelihood and impact.
• Develop a risk register and response plan (mitigation, transfer, acceptance).
• Align risk management with ESG and faith-based governance principles.3.5 Fundraising and Implementation Support (Post-core engagement)
• Prepare investor materials (pitch deck, business case, data room documents).
• Support stakeholder outreach, partnership building, and negotiations.
• Contribute to the project implementation framework (phasing, monitoring KPIs,reporting systems).

Questions?

1. What the Methodology and Approach will be used
2. What are the Deliverables and its descriptions
3. What about your proposed team composition (Role, expertise and involvement)
4. Timeline vis avis activities Schedule
5. Professional Fees and payment modalities

How to Apply

Detailed request for proposal is attached below.

All registered and interested companies are requested to submit their proposals, marked with

clear subject line: “Development of Miracle city’ s Business plan)” to

procurement@kirainvestmentgroup.com  not later than Friday, 2 nd May 2025, at 5.00pm

Kigali time.