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Authorize the Town Manager to Issue a Request for Qualifications and Begin Negotiations to Identify Potential Development Partners for Town-Owned Land at 2200 Homestead Road.
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Staff:
Department:
Loryn Clark, Executive Director
Housing and Community
Nate Broman-Fulks, Affordable Housing Manager
Emily Holt, Affordable Housing Development Officer
Overview: In September 2017, the Town Council dedicated Town-owned land at 2200 Homestead Road for mixed-income housing and authorized the Town Manager to engage potential partners in the discussion. In June of 2018, the Town Council reviewed a Concept Plan for the development of 2200 Homestead Road.
We are working with our consultant, David Paul Rosen and Associates (DRA), to prepare the Request for Qualifications (RFQ) to assist in the identification of potential development partners. We are also working with DRA to draft and issue an RFQ for the redevelopment of two of the Town's public housing sites. One of the key requirements of the RFQ will be that the applicant must demonstrate a strong track record of successfully developing and operating mixed-income housing developments. At the same time, we have worked with our design and engineering consulting team of MHA Works, Coulter Jewell Thames, and Self-Help, Inc. to perform an in-depth financial analysis to determine the cost to develop the property, and provide guidance to our staff regarding the development of the site.
Next Steps: With Town Council authorization, we would issue the Request for Qualifications. We would work with DRA and the Manager to review responses, select a potential partner, and enter into negotiations with a potential development partner to work with the Town to design, finance and build the project. We would return to the Council with a recommendation to approve the development partner(s) and terms of the developer agreement.
Recommendation(s):
That the Town Council authorize the Town Manager to Issue a Request for Qu...
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