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<br />Joint Development Authority <br />TCAAP Redevelopment Project <br />• Individual Developers <br />o Accelerated timeline: Multiple developers could accelerate development because it may <br />be less complex to negotiate development agreements for smaller development areas, <br />and it could also allow for concurrent development in different areas of the site. <br />o Diverse expertise: Different developers have different expertise; these perspectives and <br />innovations may benefit the development overall. <br />o Risk diversification: If one developer has financial issues or isn’t meeting the JDA vision, <br />development can continue in other areas. <br />o Flexibility: Flexibility for the JDA to adjust requirements, terms, or pricing as lessons are <br />learned and market conditions shift, versus the difficulty of renegotiating and amending <br />an overall development agreement with one lead developer. <br />o Positive competitive forces: Incentive for quality and competitive pricing in housing due <br />to competition within the development. <br />o JDA control: JDA maintains more control over community vision rather than delegating <br />authority to lead developer. <br />o JDA administrative burden: JDA staff would need to play an active long-term role in the <br />development in reviewing development proposals. <br />JDA Factors <br />The JDA would need to further explore how a hybrid development approach may impact its priorities in <br />order to set expectations for developer solicitations. This includes items such as staff capacity and <br />sustainability goals. <br />The JDA may benefit from contracting with a real estate development consultant to advise on the <br />establishment of development areas, phasing of development, real estate market conditions, and other <br />factors. This cost would need to be added to the JDA budget through its regular budget processes and <br />procurement would be based in Ramsey County’s purchasing and contracting guidance. <br />The sustainability design guidelines would apply the same under a hybrid developer approach, with <br />waiver requested considered on a case-by-case basis. Once development areas were established, the <br />JDA may need to determine which areas would be required to connect to a district energy system to set <br />expectations for developer solicitations. <br />City and County Factors <br />Under a lead developer approach, a cooperative agreement would need to be negotiated in parallel <br />with negotiations with the development partner. Under this hybrid approach, the City and County <br />would need to negotiate and decide certain terms for a cooperative agreement prior to soliciting for <br />development partners so that each developer would know the expectations before submitting a <br />proposal. It is expected that the cooperative agreement would include issues surrounding timing,