Item2b_2021-02-08_URB_Property_Background — original pdf

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URB Property Background February 8, 2021 Content Property Disposition Blocks 16 & 18 Next Steps Property Disposition Property Disposition  Under Chapter 374, TX Local Government Code, the Urban Renewal Board may transfer property one of two ways: 1. Unsolicited Proposal - without conducting a competitive bid process. 2. Request for Proposal (RFP) – the sale must be conducted through a competitive sealed bid process.  Both processes include a scoring process and a requirement for the developer to submit financials which are reviewed by a 3rd party. Source: URB Policy on Property Disposition Briefing, October 15, 2018 4 Past Processes  The Urban Renewal Agency has used both processes in the past  In 2011, a RFP for Block 16 was released  In 2013, the URA accepted an unsolicited proposal from the ARA for the Agency properties along the North side of Block 17 (behind the Street-Jones and Snell buildings) for the development of townhomes.  Also, in 2013, a RFP process was used to sell two tracts of Agency owned properties on East 12th Street. Source: URB Policy on Property Disposition Briefing, October 15, 2018 5 Disposition of Block 16 & 18  City Council has indicated their desire to dispose of City-owned properties using the RFP process to demonstrate highest and best use of the property.  The Board has previously decided to move forward with an RFP process. Source: URB Policy on Property Disposition Briefing, October 15, 2018 6 Block 16 & Block 18 Block 16  0.96 acres  Located in NCCD Subdistrict 1 & 2  Adjacent to African American Cultural & Heritage Center and Dedrick-Hamilton House 8 Block 16 – Potential Development  3 floors of multifamily over retail & commercial facing 11th street (potentially could include another floor)  3 stories facing Juniper street  Floor area shown: 55,200 sf Source: McCann Adams Studios 9 Block 18  1.09 acres  Located in NCCD Subdistrict 1 facing 11th St & Subdistrict 2 facing Juniper  Surrounds the Historic Victory Grill 10 Block 18 – Potential Development  4 floors of multifamily with a lower floor-to-ceiling height over retail & commercial facing 11th street  3 stories facing Juniper street  Plaza next to Victory Grill  Underground parking shown taking advantage of the site slope  Floor area shown: 91,600 sf. Source: McCann Adams Studios 11 RFPs RFP Elements  Common RFP elements include: – Priorities and Objectives – Submission Requirements – Description of Solicitation Process/Timeline – Evaluation Criteria 13 Draft Development Priorities  In January 2019 URB received public input and began identifying development priorities to serve as a starting point for evaluation and discussion.  These priorities included: – Project Creativity and Need – Additional Affordable Housing – Community Parking – Incorporation of the African American Cultural & Heritage Facility or the Historic – Minority and Women Owned Business – Green Building – Other Public Benefits (affordable creative or commercial space, public plaza, Victory Grill etc.) Source: Draft Block 16 & Block 18 Community Benefits, January 14, 2019 14 Proposed Solicitation Timeline  February to May 2021: – Public and Stakeholder Engagement – Finalize Development Priorities – Property Appraisal – Draft & Finalize RFP  May to July 2021 amendments – RFP open for two months – Release RFP following City Council adoption of Plan & NCCD 15 Proposed Solicitation Timeline  July to August 2021: – Proposal evaluation and scoring – URB selects Proposal to recommend to City Council  September 2021 a development agreement  October to December 2021 adoption  December 2021 to 2024 – Permitting & development is completed – City Council selects winning Proposal and directs staff to negotiate and execute – Staff negotiates development agreement and brings back to City Council for 16 Questions