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<br />, <br /> <br />6. Staff proceeds to formulate a development agreement with preferred <br /> <br />developer. <br /> <br />7. Subsequent to the signing of the development agreement, the City <br /> <br />effectuates the letter of credit or check and, in effect, is taken out of <br /> <br />the MnDOT costs. <br /> <br />The developer's financial viability and previous track record will also be <br /> <br />considered in terms of implementation of the project. Financial viability <br /> <br />will include the nature of private financing, the amount of public <br /> <br />expenditures required, the basis of recaptured funds of the City's <br /> <br />expenditures, schedule of commencement and completion of the <br /> <br />development itself and the security to be provided to assure successful <br /> <br />completion of the development. <br /> <br />NOTE: When proposals are received, it may become clear that <br />additional information is required for the analysis. City staff <br />reserves the right to require additional data, if needed, to be able to <br />complete its analysis. <br /> <br />Questions regarding this RFP should be addressed to: <br /> <br />Dan Hartman, ACA <br />City of Oakdale, MN <br />1584 Hadley Avenue North <br />Oakdale, MN 55128 <br />(651) 730-2809 <br />email: dan\a>ci.oakdale.mn.us <br /> <br />8 <br />