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3. Financial feasibility of the project for tax -increment financing, based on unit valuation and density and proposed land price. 4. Successful experience in working with typical redevelopment issues. Deadline for Proposals: Proposals will be received at New Brighton City Hall, 803 Old Highway 8 NW, until Tuesday, July 8a', at 4:00 p.m. Process and Timetable: July 21-24 Selected proposals and qualifications presented to the City's Economic Development Commission (EDC), a nine -member volunteer commission comprised of New Brighton residents and business representatives. Available time for each candidate will be 45 minutes, a portion of which should be reserved for questions. July 28- Staff and Council review EDC recommendations and tour selected August 6 development projects of finalists. August 12 City Council considers staff recommendation for developer selection. August 13- Staff negotiates development agreement(s). October 7 October 14 City Council considers development agreement(s) for approval. Enclosures: • Northwest Quadrant Redevelopment Area (base map) • Old Highway 8 (Northwest Quadrant) Redevelopment Plan (DSU, June 2002) • Executive Summary of Market Analysis for Proposed Housing Development to be Located in the Northwest Quadrant (Maxfield Associates, June 2003) • Analysis of Retail Demand for Northwest Quadrant and the Old Highway 8 Corridor — Executive Summary (Maxfield Associates, February 2002) • Old Highway 8 Corridor Study - excerpts (Hoisington Koegler Group, July 1997) • Redevelopment project financial assumptions Notes: The City recognizes that the limited time period for submissions may prevent a complete analysis of the site and its development potential. Proposals may be considered preliminary and subject to change. The City reserves the right to select none of the proposals. Contact: David Black, Asst. Community Development Director, (651) 638-2060.