PRECA 01-07-1981 - Laserfiche WebLink

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January 6, 1981 EVALUATION OF DOWNTOWN DEVELOPMENT PROPOSALS BACKGROUND As part of the City's continuing efforts to attract and accommodate new development within downtown New Brighton, the City officially requested development proposals on August 5, 1980, since that date the City has received the 16 development proposals listed in Tab-~e-___ I. The City now must decide which developer or developers it will enter into Joint Planning Agreements with as the downtown redevelop- ment process moves toward implementation of the communities plans and goals. This memorandum is intended to provide background information and evaluation of the alternative proposals to assist the downtown advisory board and City Council in selecting a developer or developers, with which to conclude a Joint Planning Agreement. Preliminary Proposal Evaluations The characteristics of the individual development proposals received vary greatly. They include proposals for office space, medical facilities, retail space, a restaurant, a sports facility and a hotel. The size of the projects and the sophistication and experience of the developers also vary. Despite this variety all of the proposed projects can be grouped into two (2) major categories each with very significant consequences for the City's implementati-on of the Downtown Development Qistrict Plan. The proposals are either: A) offers to develop a limited portion of the downtown development district, or B) proposals to be the exclusive developer of downtown. The majority of the proposals fall into the first of these categories. They are proposals for small, single purpose projects offered for the most part by businesses or individuals primarily interested in locating their operations downtown. Each desires a relatively small parcel of land and all are quite flexible with regards to their specific location within the development district. Sufficient land area is available to accommodate all of these projects if sites could be agreed upon by all parties. Two (2) development proposals stand out from the others because of the magnitude of their proposed projects and their approach to developing downtown New Brighton. The Kraus-Anderson Company proposal and the Commercial Guarantee Fund proposal each seek to be the exclusive master developer for all of the downtown develop- ment district. These two (2) proposals represent the second category of project proposals received by the City. Both of these organizations are proposing a major hotel, restaurant, office