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Outline of Bequest for Proposals for <br /> Hamline and county Road B cornerstone Project <br /> 1,0 overall !Mission: Solidify uses and values of the neighborhood commercial and <br /> adoining residential areas for next 25 years before economic, visual, or environments <br /> decline impacts the quality of the neighborhood. <br /> 2,0 Project Goal: seek private interest in redevelopment of small commercial <br /> corners, establish market values, and financial feasibility for redevelopment. The City will <br /> remain an active catalyst to bring parties together but will not own land. <br /> 3.0 Method: Request market driven proposals from developers for land <br /> located on the southeast and northwest comers of the intersection of County Road B and <br /> Hamline Avenue. After a proposal has been selected, neighborhood participation in <br /> the design process will be sought and required. Ultimately, a Planned Unit <br /> Development Land Use Agreement and a Financial Development Agreement will be <br /> Upon. <br /> re uired on selection of a project developer and design, the City may assist in the <br /> q <br /> financing with a variety of state and local funding sources. <br /> 4.0 Timetable: The City will invite proposals from July 28, 1998 through <br /> August 28, 1 998. city staff will send invitations and background to property owners within <br /> the project area and to developers throughout the metro area. Staff will be available to <br /> meet with interested developers and will keep the property owners informed of events. <br /> 6.0 content of RFP: The RFR will request developers (or property owners acting on <br /> their own) to express their interest in the properties through a preliminary verbal and/or <br /> graphic depiction of their proposal. Copies of all background work will be seat to <br /> developers, including property appraisals and environmental surveys for use in preparing <br /> a brief financial pro-forma as well as an estimated "gap}9 in financing the project. <br /> Reports to council: The staff will prepare an update for the Council work <br /> session on August 17, 1 998 and a formal presentation of the letters of interest and <br /> proposals at September meetings. <br /> 7,0 Actions Anticipated: Assuming there is interest in purchase, development, or <br /> redevelopment, the staff will prepare developer selection criteria , and request Council <br /> action to authorize upending funds from the Livable Communities Grant to either prepare <br /> a development contract, or acquire an option on the property} assignable to the selected <br /> Ham1B Cornerstone RFC' 07!27/98- Page 2 of 3 <br />