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<br />WORK SESSION AGENDA ITEM NO. 3-B <br /> <br />REQUEST FOR COUNCIL DISCUSSION/DIRECTION <br />DATE: 1 0~21 ~96 <br />ITEM NO,: <br /> <br /> <br />Manager Reviewed: <br /> <br />Agenda Section: <br /> <br />Schedule for selection of 35W Gateway RFP Developer. <br /> <br />The purpose of this memo is to refresh the Council and staff memory regarding the <br />progress to-date on the selection of a 35W-Gateway developer, and to discuss the <br />steps necessary to select a developer in December, 1996, and begin construction in the <br />Spring of 1997. <br /> <br />Background <br /> <br />1. In 1995 the City Council reviewed proposals for development of the 35W <br />Gateway site which was designated for PUD Business Park with a mix of office <br />and office/warehouse assembly in the Comprehensive Plan (9/94). <br /> <br />2. The goals of the development have included: <br />a. Increase the number of head of household jobs <br />b. Increase and diversify the property tax base <br />c. Create a business park campus entry/gateway to Roseville with 50% <br />of the building area (by square footage) being office space. <br />d. Maximize return on the city's original investment <br />e. Relocate 14 homeowners out of an industrial/commercial corridor <br /> <br />3. The Council narrowed the development team proposals to three during the <br />summer of 1995. The teams were Everest, Meritex, and Opus. In the fall of <br />1995, the Council reviewed the 3 proposals. On 34 acres, these developments <br />represent 350,000 to 522,000 square feet of new buildings and a range of new <br />jobs from 900 to 1700. Commitments in the form of letters of credit, performance <br />bonds, or assessment agreements were requested. <br /> <br />4, The staff and Rick Zabel also reviewed the development teams preliminary <br />financial proposals for purchase of the site and new taxes to be generated. The <br />staff was asked to review the proposals and provide a common set of <br />comparable factors which the Council could use for selection purposes <br />(attached). <br /> <br />5. In December, 1995, the Council continued the 35W Gateway Developer <br /> <br />1 <br />