This document lays out a proposal by the Instrument Development Team (IDT) composed of scientists from leading Universities and National Laboratories to design and build a conceptually new high-flux inelastic neutron spectrometer at the pulsed Spallation Neutron Source (SNS) at Oak Ridge. This instrument is intended to supply users of the SNS and scientific community, of which the IDT is an integral part, with a platform for ground-breaking investigations of the low-energy atomic-scale dynamical properties of crystalline solids. It is also planned that the proposed instrument will be equipped with a polarization analysis capability, therefore becoming the first polarized beam inelastic spectrometer in the SNS instrument suite, and the first successful polarized beam inelastic instrument at a pulsed spallation source worldwide. The proposed instrument is designed primarily for inelastic and elastic neutron spectroscopy of single crystals. In fact, the most informative neutron scattering studies of the dynamical properties of solids nearly always require single crystal samples, and they are almost invariably flux-limited. In addition, in measurements with polarization analysis the available flux is reduced through selection of the particular neutron polarization, which puts even more stringent limits on the feasibility of a particular experiment. To date, these investigations have mostly …