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0 <br />CITY OF NEW BRIGHTON <br />COMMUNITY DEVELOPMENT DEPARTMENT <br />MEMORANDUM <br />DATE: April 2, 2010 <br />TO: Dean Lotter, City Manager <br />FROM: Grant Fernelius, Community Development Director <br />SUBJECT: April 6t" Work Session on Northwest Quadrant Topics . <br />At next Tuesday's work session, staff will be prepared to discuss a couple of topics <br />related to the Northwest Quadrant. Both of these issues were listed as priorities in the <br />recently adopted Council Policy Work Plan. We have scheduled two presentations; one <br />by Ehlers Associates (5:30) on the financial picture; and a second by Risdall Marketing <br />Group (7:30) to discuss the rebranding process. <br />Introduction <br />. There will be a great deal of information to cover on Tuesday night. Most likely we'll be <br />unable to get through all of it. As such, staff would recommend that additional time be <br />scheduled over the coming months to follow-up on these topics and other issues related <br />to the Northwest Quadrant. <br />Among the pressing matters from our perspective, is a future discussion on how we <br />should work with developers to solicit interest in the site. Several approaches have <br />been used in the past (i.e. request for proposals, request for qualifications, etc.), <br />however given the changes in the marketplace it may be time to devise a new strategy. <br />In addition, there have been comments made that the framework plan should be <br />revisited. Clearly, this issue needs to be resolved by Council before we can embark on <br />a marketing effort or talk with developers. Work session time should be set aside for <br />this issue. <br />The following memo provides background information on the financial status of the <br />project and the rebranding effort. In addition, the memo includes a written update on <br />the DSI/Transoma project and the billboard at I -35W. <br />NWQ Financial Analysis (5:30 - 7:30) <br />Staff has been working for nearly a year with the City's new public finance advisor, <br />• Ehlers Associates (Ehlers), on creating a new financial model for Northwest Quadrant. <br />Much of this work is based on the market study that was completed by Colliers <br />