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09/17/2007 COMMUNITY REDEVELOPMENT AGENCY MEETING MINUTES CITY OF CLEARWATER September 17, 2007 Present: Frank Hibbard Chair/CRA Trustee Carlen Petersen CRA Trustee John Doran CRA Trustee George N. Cretekos CRA Trustee Paul Gibson CRA Trustee Also present: William B. Horne II City Manager Joe Roseto Interim Assistant City Manager Rod Irwin Assistant City Manager/CRA Executive Director Pamela K. Akin City Attorney Cynthia E. Goudeau City Clerk Brenda Moses Board Reporter The Chair called the meeting to order at 1:45 p.m. at City Hall. To provide continuity for research, items are in agenda order although not necessarily discussed in that order. 2. Approval of Minutes 2.1 Approve the minutes of the September 4, 2007 CRA meeting as submitted in written summation by the City Clerk. Trustee Petersen moved to approve the minutes of the Community Redevelopment Agency meeting of September 4, 2007, as recorded and submitted in written summation by the motion carried City Clerk to each Trustee. The was duly seconded and unanimously. 3. CRA Items 3.1 Approve a Cleveland Street District Facade Improvement Program Loan in the amount of $31,020 for the property located at 534 Cleveland Street. On September 4, 2007, CRA approved the Cleveland Street District Facade Improvement Program. The Façade Improvement Program creates incentives for the property owners and businesses on Cleveland Street to improve the appearance of their businesses and properties. It is hoped that this program will foster and encourage investment and pride in building facades along Cleveland Street and add to the Café District envisioned in a revitalized downtown Clearwater. Jon Heneghan, the property owner at 534 Cleveland Street, has applied for a Cleveland Street Facade Improvement Program Financial Incentive. As part of the application process, the property owner provided an itemized list of expenses for the building, with eligible facade improvements totaling $82,040. The program matches improvements dollar-for-dollar and the CRA staff would like to cover half of those expenses for a total of $41,020. The CRA Executive Community Redevelopment Agency 2007-09-17 1 Director has approved a $10,000 grant leaving the balance of $31,020 that would be a 0% loan to be paid upon sale of the property. Mr. Heneghan is already underway with building renovation and restoration of the "Telephone Exchange Building." He has expended over $250,000 in removing the stucco panels that covered the original brick building. He anticipates that the final cost of renovating the exterior and interior of the building will be in excess of $400,000. The timeframe for completion of the exterior is December 2007. CRA staff recommends this building for a facade improvement grant and loan for the following reasons: 1) This building is in a strategic corner location on Cleveland Street that facilitates the Cafe District concept; 2) The proposed improvements will contribute significantly to the Sidewalk Cafe District vision; 3) The property is significant architecturally to Downtown; 4) The property owner is making a significant additional investment in the renovation of the building façade; 5) The exterior improvements fully reflect the recommended facade treatment delineated in the Facade Design Analysis previously adopted by the CRA; and 6) The property owner has also been working with CRA staff on identifying an end user (specifically a restaurant) for the first floor space. For the above reasons, staff recommends that the CRA approve the loan request in an amount of $31,020. The CRA's investment in this property will be less than 10% of the total investment in the building. As described in the Facade Program Guidelines, the loan will be secured by a mortgage and note on the property to be repaid upon sale of the property. The grant and loan will be disbursed to the property owner once the eligible improvements are completed and the requisite mortgage and note executed. As a stipulation of the loan, the property owner will maintain the facade improvements as approved, in good condition, for a period of five (5) years from completion. The loan documents (mortgage and note) will be prepared for CRA Board approval at the CRA meeting on October 15, 2007. Mr. Heneghan thanked the City for its support and for investing in its streetscape initiative. Discussion ensued with comments complimenting Mr. Heneghan’s efforts. Trustee Doran moved to approve a Cleveland Street District Façade Improvement Program Loan in the amount of $31,020 for the property located at 534 Cleveland Street. The motioncarried was duly seconded and unanimously. 3.2 Pursuant to CRA RFP/Q 23-07 and the recommendation of the Selection Committee: 1) Designate Miles Development Partners of Atlanta, Georgia as Preferred Developer for the Purchase and Development of the Cleveland Street and Prospect lake site; and 2) Approve a ninety (90) day period of Exclusive Negotiation during which the CRA Executive Director is Community Redevelopment Agency 2007-09-17 2 authorized to negotiate a Development Agreement and Purchase Agreement, for Subsequent CRA Board consideration, in general conformance with the Miles Development RFP/Q response. On April 16, 2007, the CRA Board approved the release of a Request for Proposals/Qualifications (RFP/Q 23-07) for the purchase and development of the Cleveland Street and Prospect Lake Park site in downtown Clearwater. In approving the RFP/Q, several considerations for a future developer were highlighted by the CRA: 1) A proven record of successful development of projects similar to the mixed-use “vision” for the site; 2) Clear indication of the capacity of the developer and project to be constructed within the timeframe delineated in the RFP/Q; and 3) Clear indication that the developer and project could readily attract the requisite financing for the project. The RFP/Q was formally released on May 8th with a submittal deadline of June 29, 2007. The RFP/Q was advertised nationally in trade publications, on the City’s and other development and planning websites, in local newspapers and through the direct mailing (228 mailings) to development organizations and related groups. Nine development teams from across the nation submitted proposals in response to the RFP/Q. On July 18, 2007, a Selection Committee met to evaluate the written proposals and identify finalists who most closely met the objectives of the CRA for the Prospect Lake site as delineated in the RFP/Q. The Selection Committee consisted of: Rod Irwin, CRA Executive Director, Geraldine Campos Lopez, Director, Economic Development and Housing, Michael Delk, Planning Director, Michael Quillen, City Engineer, Gina Clayton, and Assistant Planning Director. The Selection Committee identified three development team proposals, which appeared to best meet the selection criteria, based upon a rating formula in the RFP/Q. The Selection Criteria used is as follows: 1) Developer Experience and Qualifications (25%); 2) Financial Feasibility (25%); 3) Conceptual Development Program/Vision (25%) and 4) Economic Benefit to the CRA (25%). A 10% bonus was applied for those proposals agreeing to reserving 10% of the units for workforce affordable housings (defined as households earning 120% of area median income). The top three development teams were invited to make formal, detailed, in-person presentations stnd to the Selection Committee on August 1 and 2. The three invitees were Miles Development Partners; Atlanta, Georgia, The Gorman Company; Madison, Wisconsin, and Synergy Properties, Inc.; Tampa, Florida. Subsequent to the interviews, and after further due diligence and clarification, the Selection Committee unanimously recommended that the development team headed by the Miles Development Partners, Atlanta, Georgia be recommended to the CRA Board for designation as Preferred Developer of the site, subject to successful negotiation of a Development Agreement and Purchase Agreement, and based upon “Scheme A” of their submission. 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