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NWQ Worksession Memo February 15, 2008 Page 2 Solicitation Process In general, there are two industry -accepted schemes for soliciting development requests: Request for Proposals (RFP) or Request for Qualifications (RFQ). The following is a brief description of each approach. Request for Proposals (RFP) RFP's are more formal solicitations that usually involve detailed information such as site plans, product types, renderings, land prices, timing and background information. While these can be very helpful in comparing specific proposals, they are also time consuming and expensive for developers to prepare. Because of this investment, some developers shy away from RFP's altogether. Nonetheless, it is an approach that can be used. Request for Qualifications (RFQ) RFQ's are used to solicit background information on developers who specialize in particular types of development. For example, in 1999 the City used an RFQ to solicit a master developer for the Northwest Quadrant. Responses were received from three different groups (Ryan Companies, Welsh Companies and Contractor Property Developers Company). After this initial process, the City then interviewed the candidate firms and selected a finalist (Ryan) to pursue further negotiations. Under the RFQ process, the focus is on developer capacity or suitability. Detailed site plans are then prepared by those firms which the City has an interest. RFQ's tend to be better received by developers because there is less time and expense (initially) and through the screening process they get a better sense of the competition. For your convenience, attached are copies (Exhibit A) of the RFQ's that were used in the NWQ in the past. Timing Regardless of the solicitation process, it will take at least 30 days (more likely 60) to prepare the marketing materials, advertise, contact developers and get responses. In the past, staff has drafted the RFQ/RFP document and then requested Council authorization to proceed. We could have a draft document ready for the Council to consider on February 26`h, assuming there is a consensus to proceed. Otherlssues There has been discussion in the past about the need for contingency planning or an alternative development plan. As we have discussed on several occasions, staff has proceeded with the current development plan based on the City Council direction that was provided in May 2007. However, it is important to know that we have evaluated potential development scenarios. Attached (Exhibit B) for your review is a very short