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8.C. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the Cit Mana er <br /> December 12, 2011 <br /> SUBJECT <br /> Update on the Depot Circle Development Request for Qualifications (RFQ) <br /> RECOMMENDATION <br /> By motion direct staff to begin negotiations with the two recommended development <br /> entities, based on the schedule outlined in this report and authorize staff to move <br /> Redwood Creek culvert. <br /> BACKGROUND <br /> At its meeting on May 23, 2011, the City Council directed staff to issue an RFQ for the <br /> development of Block 2 and the Winslow Parking Lot and the future civic space to be <br /> known as Depot Circle. The RFQ was issued on August 30, 2011. A web page was <br /> created, a press release issued, and the RFQ was sent directly to 27 developers who <br /> had expressed interest. Responses were received on October 31, 2011. Five <br /> development teams submitted statements of qualifications. The five groups and their <br /> initial concepts are: <br /> • BPR Properties of Palo Alto: a hotel solely on the Winslow lot. <br /> • Grosvenor of San Francisco: housing on Block 2 and the Winslow lot. <br /> • Hunter/Storm of Cupertino: office space solely on Block 2. <br /> • Lowe Enterprises of Los Angeles: housing, office space, and a hotel on Block 2 <br /> and the Winslow lot. <br /> • TRG Pacific Development of Yorba Linda: housing on Block 2 and the Winslow <br /> lot. <br /> ANALYSIS <br /> Based on the review of the Statements of Qualifications and initial concept proposals, <br /> staff and the Depot Circle sub-committee (Council Members Gee and Seybert) <br /> tentatively selected two developers to proceed, and held follow-up interviews with both <br /> on November 29, 2011. Staff and the sub-committee recommend that Hunter/Storm and <br /> Lowe Enterprises move forward in the process. <br /> With Council approval, the two development groups will prepare detailed proposals. <br /> This is anticipated to take approximately three months. At that time, staff would <br /> recommend whether or not to enter into an exclusive right to negotiate with one or both <br /> of the two development groups. Based on the proposals, staff will continue the <br /> negotiations with both teams to a point approximating conceptual design. At that point, <br /> sufficient details will be known to predict costs and schedules sufficient for final <br /> negotiations and deal points. Critical to the final decision will be the analysis balancing <br />