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have a very good working relationship with them. Delaune asked if they act as the general <br /> contractor. Cunningham replied that they are the developer only; TOLD will select a contractor <br /> and architect for each project. He added that at the end of the project TOLD will be the owners <br /> and property managers for the development. Delaune inquired about their competitors. <br /> Cunningham replied that Ryan and Opus are some of their competitors. Dreher added that their <br /> company is unique in that they are involved in all project types, which helps in developing a <br /> mixed-use project. <br /> Kaufhold indicated that he read in the company's proposal that TOLD is interested in the mixed- <br /> use as well as the office development. He inquired if they would be satisfied with just a portion <br /> of the development. Cunningham replied that his company would love to do the entire <br /> development; it's an excellent location and they would like to market it as a whole, but they <br /> would be satisfied with just the mixed-use portion. <br /> Delaune asked if they foresee any concerns or challenges with the project. Cunningham replied <br /> that they believe the City is doing a great job to get the current issues under control and the <br /> development started. Delaune asked how the environmental issues compare to other projects. <br /> Cunningham replied that there are environmental issues with every project and the City is taking <br /> the right steps in correcting them. <br /> Black stated that the next step is to do a Request for Proposals. Cunningham added that they <br /> would like to start a dialogue with the City to understand the City's goals. <br /> After the developers left, Jim Williamette, City Building Official, stated that when he worked in <br /> St. Louis Park he had the opportunity to work with TOLD numerous times. He reported that <br /> they addressed City concerns well and were very involved in the projects. <br /> Harmon asked for a clarification on what developers are interested in building what on the east <br /> side. Black replied that Ryan Companies is interested in the office development, APi will be <br /> building its headquarters on the bowling alley site, and TOLD is interested in the mixed-use <br /> blocks, and would also like to develop the office area, but did not respond to the RFQ for the <br /> offices. Harmon inquired if they would be responsible for finding the tenants. Black replied that <br /> they would be responsible for finding tenants, and Ryan may stress that as the larger company <br /> they would have more contacts to draw from. <br /> Delaune asked if it's feasible to start construction on the east side if construction does not start <br /> on the west side due to environmental issues. Black replied that construction can start on the east <br /> side before the west side, but there are costs to consider for the entire Northwest Quadrant. <br /> Nelson inquired how the sale of the land would be handled and asked if there will be covenants <br /> attached to the sale. Black responded that there would be covenants attached to the sale, which <br /> will control what sort of development will go on the land. Delaune inquired whether Ryan <br /> would be given all the land at one time or would it be given to them in a phased period. Black <br /> replied that the developers would not take the land until it is clean and the City will want to <br /> convey the land in phases, tied to some type of performance standards. Kaufhold asked whether <br /> the City is in the position to have companies compete against each other, whereas whoever gets a <br /> tenant first would receive the property. Black stated that the companies will be spending a lot of <br /> Page 2 of 6 <br />