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• Item If <br /> 8. <br /> 1 <br /> City of <br /> Elk -�..- <br /> River <br /> MEMORANDUM <br /> TO: Housing and Redevelopment Authority <br /> Mayor & City Council <br /> FROM: Catherine Mehelich, Director of Economic Developmen p <br /> DATE: June 24, 2002 <br /> SUBJECT: Downtown Revitalization Project <br /> - Developer Proposal Analysis & Recommendation <br /> Attachments <br /> • Development Proposals from Amcon Construction,United Properties,Best& <br /> • Hempel, MetroPlains Development, and TOLD Development Company <br /> • Ehlers &Associates 6-14-02 Memo regarding Proposal Analysis <br /> • Concept Maps indicating developer proposal areas <br /> Background <br /> In early May the City received five proposals in response to its request for proposals for the <br /> Downtown Revitalization Project. Staff has completed a review and analysis of the <br /> proposals, completed interviews with the five developers, and is prepared to make a <br /> recommendation of developers for the HRA and City Council to consider for formal <br /> interview. <br /> Issues <br /> Again it is important to understand that the City will be selecting a"developer", not a <br /> "development". A concept and a plan for this project will be developed throughout the <br /> redevelopment process,incorporating changes as a result of public input,planning <br /> requirements,market conditions and the historic contexts study. <br /> Staff's analysis of development proposals included the following: <br /> • Preliminary interview of developer/development team <br /> • Tour of representative development projects <br /> • Reference check on developer experience <br /> • Tax increment finance projections <br /> • • Developer redevelopment experience and financial capability <br /> • Land use and planning issues <br /> • Consistency with the City's Downtown Revitalization Project Goals and Objectives <br />