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0 EHLERS <br /> • & ASSOCIATES INC <br /> To: Catherine Mehelich, City of Elk River <br /> From: Jim Prosser <br /> 0 Sid Inman <br /> Stacie Kvilvang <br /> W <br /> M Subject: Downtown Revitalization Proposal Analysis <br /> Date: June 14, 2002 <br /> Provided is a summary analysis of proposals received for the Downtown Revitalization <br /> area. All of the proposals are flexible in design and density. Changes in design and density <br /> will affect TIF projections and land sale proceeds. Changes typically occur during the pre- <br /> development agreement phase. Discussions with developers indicate flexibility in this area. <br /> This underscores the fact that the city is selecting a developer at this point and not a <br /> development. Land use and planning ratings have been provided based on the following <br /> criteria and alignment with the attached project goals and objectives: <br /> 4 = Concept appears to meet or exceed expected goals and objectives. <br /> • 3 = Concept meets major components of goals and objectives. Some <br /> revisions to concept would be required. <br /> 2 = Major changes in concept required to meet goals and objectives. <br /> 1 = Concept is generally inconsistent with goals and objectives. <br /> It should be noted that analysis of developer experience and capability are subjective <br /> assessments of expected requirements for this type of development only and do not <br /> relate to developer capability generally. The analysis is based on discussions with <br /> individuals familiar with development products. Most of the proposals project a <br /> financing gap. Given the nature of redevelopment this is not unusual. Efforts to close <br /> the gap will begin once a developer is selected for preliminary analysis. <br /> The purpose of this information is to summarize information pertinent to selection of <br /> developers for interview purposes. <br /> • <br />