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Joint Development Authority AGENDA ITEM - <br /> TCAAP Redevelopment Project <br /> -AF�QEN HILLS MEMORANDUM <br /> % Ramsey County <br /> DATE: January 4, 2016 <br /> TO: Joint Development Authority Board of Commissioners <br /> FROM: Directors Hutmacher and Worthington <br /> SUBJECT: Rice Creek Commons Solicitation for Master Developer <br /> Budgeted Amount: Actual Amount: Funding Source: <br /> n/a n/a n/a <br /> Summary <br /> A draft Master Developer Solicitation was distributed to JDA members on December 15, 2015. Edits to the draft <br /> solicitation were made to reflect timeline dates shown below. These edits are shown in red in the attached draft <br /> solicitation. Key elements of the solicitation process are highlighted below. JDA Commissioners are asked to provide <br /> comment on the solicitation document,the selection process, and the proposed selection review committee. <br /> Key Considerations: <br /> • The solicitation will be distributed nationally. <br /> • The solicitation is designed to encourage developers to respond by limiting the time and expense required for <br /> the initial submission. Following the initial review, high-quality development teams will be asked to provide <br /> more detailed information prior to the final selection. <br /> • The solicitation encourages developers to "team" with development experts for housing, commercial and retail. <br /> This maximizes expertise in specific market niches and also allows greater access to capital. <br /> • The JDA will enter into a development agreement with the selected master developer team. The development <br /> agreement will address phasing, implementation, and the roles and responsibilities of each party. <br /> • The County Board will enter into a purchase agreement with the selected master developer team. The purchase <br /> agreement will address the financial terms of the transaction. <br /> Timeline <br /> January 4 JDA approves release of Solicitation <br /> February 1 Solicitation Released <br /> February 11 Developer Information Session/Pre-proposal conference <br /> March 2 Solicitation Responses due <br /> March 18 Solicitation Review Committee evaluation and selection of top candidates <br /> March 24 Deadline for submission of additional information <br /> March 31 Evaluation, Interviews, and Recommendation to JDA <br />