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HomeMy WebLinkAbout10.c. Discussion of Request for Proposal for Redevelopment of Repairs, Inc. SiteCITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION PORT AUTHORITY COMMISSION MEETING DATE: NOVEMBER 2, 1992 AGENDA ITEM: AGENDA SECTION: REQUEST FOR PROPOSAL FOR REPAIRS, INC. SITE NEW BUSINESS PREPARED BY: JOHN MILLER, ECONOMIC DEVELOPMENT COORDINATOR AGENDA Iftao 0 0 ATTACHMENTS: APPROVED BY: DRAFT RFP At the October work session the commissioners indicated a desire to distribute a "Request For Proposal for the Redevelopment of the Repairs, Inc. site." I had gotten copies of an Apple Valley RFP for redevelopment of property that the city has at C.R. 42 and Cedar Avenue and made them available earlier. Attached is a draft RFP based on the Apple Valley model. As we have at least two parties interested in redeveloping the site, the RFP will assure simultaneous submission of proposals and also guarantee equality in detail. This will make it easier for the Port Authority to select the proposal with the most benefit for the city. The RFP requires a submission by January 5, 1993. RECOMMENDED ACTION: Motion to approve the Request for Proposal for redevelopment of the Repairs, Inc. site and to direct the Port Authority staff to distribute them to interested persons. PORT AUTHORITY ACTION: REPAIRS INCORPORATED OFFICE/RETAIL COMPLEX BUILDING DEVELOPMENT PROJECT REQUEST FOR PROPOSALS ROSEMOUNT PORT AUTHORITY I. Introduction The Rosemount Port Authority through the actions of predecessor agencies has acquired a parcel of land near the intersection of 145th Street West and T.H. 3. The address of the property is 14390 South Robert Trail (T.H. 3). The area of the parcel is approximately .42 of an acre with approximate dimensions of 110 x 166 feet (see attached map). The parcel is presently occupied by a business known as Repairs, Incorporated. The Rosemount Port Authority has completed a phase 1 environmental assessment of the property and the complete report is available upon request. At this time the Port Authority wished to identify developers interested in redeveloping the parcel and assisting the commissioners by replacing this blighted area with a project that would be an amenity to the downtown business district and the community -at -large. Proposals must be conceptually and aesthetically consistent with city land use plans and the Port Authority's end-use concepts. II. Final Development The final development of this property should be an office or office/retail combination. The Port Authority wishes to sell or trade the property. If a land trade is proposed, the traded property must be in the 1979 Redevelopment District boundaries as amended. III. General Provisions A. The development must meet the City of Rosemount zoning requirements. The usual and customary development procedures used by the City of Rosemount and the Rosemount Port Authority shall govern the development process of this project. B. A development agreement must be signed before the property is sold to ensure the type and quality of development after ownership of the property has been relinquished by the Port Authority. C. The total value of the parcel of property based on sale to the Rosemount Economic Development Authority is $130,500. According to state law, the property cannot be sold for less than it was acquired. D. The property is located near an at -grade intersection in Dakota County with average daily trip counts on T.H. 3 and 145th Street 8,700 vehicles and 7,600 vehicles respectively. E. The property is located in a Tax Increment District and tax increment revenue derived from this specific project is available for this project on a pay-as- you-go basis. The district expires in 2000. F. Special assessment financing with a term of 10 years would be the primary financing tool for infrastructure improvements. G. The design of the development must include some provision for shared parking with the adjacent Erickson Park. H. The land triangle on the north side of the parcel is to be excluded from the development. It will be deeded to the city for park purposes. I. The design is to emphasize a facade and sign package compatible with adjacent and nearby structures. J. The awarded developer should expect to work closely with the Port Authority and city development staff for the entire duration of this project. K. Upon award of the project, the developer has one year to demonstrate significant progress toward completion of the project satisfactory to the Port Authority. If the Port Authority deems insufficient progress has been made, it may re -issue RFPs for a new development project. This solicitation provides broad outlines for the development in order to allow each developer maximum latitude for creativity and innovation in each proposal. The Port Authority intent is that this process will heighten the competition and yield the best possible development. IV. Presentation and Award A. Timeline: The Request for Proposals will be mailed November 10, 1992 Deadline for accepting proposals January 5, 1993 Interviews for finalist proposals Mid -January, 1993 B. Selection Criteria: The awarded proposal will be based upon: (1) The compatibility of development plans with the Port Authority's wishes for the downtown. (2) Developer qualifications best -suited to develop the proposed project. (3) Financial backing and strength best -suited to develop the proposed project. (4) Demonstrated ability and knowledge of development procedures. (5) History and experience of developing similar projects. The Port Authority reserves the right to reject any and all proposals for whatever reasons. Pa C. Instructions to proposers: (1) Five (5) copies of the development proposal must be received by the Port Authority by January 5, 1993. Proposals received after this date will be returned unopened. (2) Proposals must be addressed to: Mr. Stephan Jilk Executive Director Port Authority City of Rosemount 2875 - 145th Street West Rosemount, MN 55068 Proposals should be clearly marked "Repairs, Inc. Redevelopment Project. " (3) Questions about this RFP may be directed to Mr. John Miller, Economic Development Coordinator, by calling 322-2004 during regular business hours. Questions will be taken until 4:00 p.m., January 4, 1992. (4) Contents of the proposal should include: a) General statement of qualifications of the company. b) General statement of company's financial health. C) General description of the development proposal. d) Preliminary sketch plan drawings showing the entire site. e) Preliminary sketch plans of all buildings. f) Potential listing of prospective tenants for the development project. g) Financial proforma for the project. h) Specific requests of assistance from the Port Authority or city, if any. i) Description of other similar projects undertaken by the developer. j) Biographical information of the principals of the firm who would be working with the Port Authority and city staff on this project.