CRESTWOOD COURT REDEVELOPMENT AREA

Transcription

1 CRESTWOOD COURT REDEVELOPMENT AREA REQUEST FOR PROPOSALS TO SERVE AS FINANCIAL ADVISOR IN CONNECTION WITH THE CRESTWOOD COURT REDEVELOPMENT AREA, 2012

2 BACKGROUND bigsdf F GG CRESTWOOD COURT REDEVELOPMENT AREA REQUEST FOR PROPOSALS GUIDELINES & REQUIREMENTS FOR SUBMITTAL The City of Crestwood, Missouri, is considering a proposal for the redevelopment of a portion of the community, hereinafter referred to as the Crestwood Court Redevelopment Area (Area). This Area is comprised of approximately 48 acres of land (not including street right-of-ways) and includes Crestwood Court, a 1.1 million square foot shopping center. The Area is generally bound by Watson Road on the south, Sappington Road on the west, the property lines of existing residential properties to the north of the shopping center, and the western property lines of existing properties fronting the west right-ofway of Watson Industrial Park Drive on the east. The City recognizes the economic factors associated with undertaking an urban redevelopment project of this type. The City will consider utilizing the various economic development and redevelopment tools at its disposal to stimulate and assist in the redevelopment of the Area. These tools include, but are not limited to, Tax Increment Financing (TIF) R.S. MO ;Urban Redevelopment Corporations Law (Chapter 353) R.S. MO ;Transportation Development District Act (TDD) R.S. MO ;Community Improvement District Act (CID) R.S. MO ; and Neighborhood Improvement District Act (NID) R.S. MO The City is seeking a Financial Advisor to assist the City in evaluating the proposal to redevelop the Area. REDEVELOPMENT OBJECTIVES& CONSIDERATIONS The City s principal objective is to redevelop this property to attract new businesses and residents to the Crestwood community and thereby generate additional revenues and attract more visitors to the community. To this end, the City has several considerations. These include, but are not necessarily limited to, the following: a favorable consideration of a redevelopment program that leads to higher generation of retail sales with potential retail, mixed use, office and residential components; an expectation for high-quality urban design and architecture; demonstration of a plan to improve accessibility to the site and improvements to parking areas; and

3 consideration for use of financial support mechanisms upon demonstration of need and viability. SUBMITTAL INFORMATION AND REQUIREMENTS Fifteen (15) copies of each proposal must be submitted by 3:00 p.m. on, 20 to Tina Flowers, City Clerk, One Detjen Drive, Crestwood, Missouri in a sealed envelope marked Crestwood Court Financial Advisor Proposal in the lower left hand corner. Each proposal shall contain the following information: 1. Description of services the Financial Advisor will provide to the City. 2. All fees and expenses to be paid to the Financial Advisor in connection with financial advisor services provided. 3. Information about your firm and experience with projects utilizing public incentives. Please include resumes of the personnel to be assigned to the Project and three (3) references from other Cities in which you have recently served as their Advisor on similar projects. MISCELLANEOUS PROVISIONS The City of Crestwood reserves the right to reject any and all proposals, to waive informalities, and to select the proposal and Financial Advisor, that the Board of Aldermen, in its sole discretion, deems to be in the best interest of the City of Crestwood. 1. The City of Crestwood reserves the unconditional right to: a. amend, modify or withdraw this RFP; b. revise any requirements under this RFP; c. require supplemental information from any responding party; d. negotiate or hold discussions with any proposer to supplement insufficient information which does not completely conform to the instructions contained herein; e. extend the deadline for submission of responses hereto; f. waive any nonconformity with this RFP; and 2

4 g. exercise the foregoing rights at any time without notice and without liability to any responding party, or any other party for its expenses incurred in the preparation of a proposal. 2. This RFP does not commit the City of Crestwood to select a Financial Advisor or to enter into an Agreement. 3. Nothing stated at any time by any representative of the City of Crestwood will effect a change in, or constitute an addition to this RFP, unless confirmed in writing by the Office of the City Administrator. 3

5 bigsdf F GG CRESTWOOD COURT REDEVELOPMENT AREA NOTICE OF REQUEST FOR FINANCIAL ADVISOR PROPOSALS The City of Crestwood, Missouri, is seeking proposals for a Financial Advisor in connection with the redevelopment of a portion of the community, referred to as the Crestwood Court Redevelopment Area ( Area ). This Area is comprised of approximately 48 acres of land (not including street right-of-ways) and includes a 1.1 million square foot shopping center. The Area is generally bound by Watson Road on the south, Sappington Road on the west, the property lines of existing residential properties to the north of the shopping center, and the western property lines of existing properties fronting the west right-of-way of Watson Industrial Park Drive on the east. The City will consider proposals from Financial Advisors. The City will consider utilizing one or more municipal finance incentives provided under state law, including but not limited to, Tax Increment Financing (99.800R.S.Mo), the Urban Redevelopment Corporations Law (353 R.S.Mo), the Transportation Development District ( R.S.Mo), and the Community Improvement District ( R.S.Mo) to stimulate and assist in the redevelopment of the Area. Proposals must be submitted by., 20 to Tina Flowers, City Clerk, One Detjen Drive, Crestwood, Missouri 63126, in a sealed envelope marked Crestwood Court Financial Advisor Proposal in the lower left hand corner. Interested parties may contact the City Clerk at (314) for further information regarding this request and to receive a copy of the Request for Proposals. 4