City Council Minutes 2016 01 05 - Laserfiche WebLink

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City Council Meeting Minutes January 5, 2016 Page 6 of 15 Mayor Muckle requested a staff presentation. Economic Development Director DeJong explained the Louisville Revitalization Commission (LRC) has prepared a Request For Proposals (RFP) to seek interest in the redevelopment of 550 S. McCaslin Blvd., the former Sam's Club property. Staff requested Council direction to release the RFP. On September 1, 2015 the City Council approved the 550 S. McCaslin Urban Renewal Plan. The implementation of the Plan goes to the Louisville Revitalization Commission (LRC). A Draft RFP was prepared and reviewed by the LRC on December 15, 2015. The RFP was prepared as a joint request of City and LRC. There are several sections in the RFP including property description, related rules and regulations on the property, potential incentives, proposal requirements and preferences, and the intended RFP schedule. Potential Incentives/ Assistance: The following City's incentives are available through a Business Assistance Program (BAP): Rebates of the City's 3.0% General Construction Use Tax on building materials; Rebates of the City's Building permit fees related to the project and Rebates of the City's 3.0% sales tax due to new sales tax generation from the project. The LRC can also apply its Urban Renewal powers to address blighting factors on the property. RFP Schedule: • Issue Request For Proposals Jan 8, 2016 • RFP responses due 5:00 PM MST Mar 10, 2016 • Notify Short- Listed Proposers (if needed) Mar 18, 2016 • Presentations/Interview to staff (if requested) Apr 4 -8, 2016 • LRC /Council direction on preferred concept/proposer April /May 2016 • Staff negotiates tentative agreement with preferred proposer May 2016 • LRC and City Council consider detailed final agreement June 2016 Publicizing: 1) City's website; 2) Send to area developers who have expressed an Interest; 3) Press release to area newspapers and business journals, and 4) Send to commercial broker contacts. Staff requested Council comments and recommended approval of the RFP. COUNCIL COMMENT Council member Maloney stated this will be a joint City /LRC RFP. He asked who would review the proposals. Economic Development Director DeJong explained this will be a one -step review process; the LRC will look at the RFP proposals in depth and then Council will make a determination based on the LRC recommendation. Mayor Muckle explained the LRC and staff have looked at several versions of the RFP. He was comfortable with the current version of the RFP.