Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Appropriate City Officials To Negotiate An Agreement With The Highest Ranked Firm For The Redevelopment Of Approximately 30.58 Acres Of City-Owned Property Designated As The Park Road Redevelopment Project, And If Negotiations Are Not Successful, Authorizing The Appropriate City Officials To Negotiate An Agreement With The Next Highest Ranked Firm(s) Until An Agreement Is Reached.
Body
Staff Recommends: Approval of the Attached Resolution.
Explanation:
The City Commission requested that staff pursue market research in determining redevelopment opportunities for 30.58 acres of City-owned real estate, which may include the City's current Public Works Compound.
On March 15, 2018, RFP No 4585-18-PB. Redevelopment Opportunity was posted on Bidsync.
On May 14, 2018, RFP No. 4585-18-PB opened at 3:00 P.M. and resulted in a response from the following four firms: Park Road Development, LLC, Bridge Development Partners, LLC, Immo Corp Ventures, and Prologis.
On July 1, 2018, an evaluation committee consisting of six voting members from Development Services, Public Works, Communication, Marketing and Economic Development and two non-voting members from Public Works and Procurement Services met and began evaluating proposals.
Based upon information provided in the firm's proposals, the evaluation committee unanimously decided to have all firms make oral presentations.
The evaluation of the proposals was based on the criteria/factors established in the RFP as follows: Qualifications, Experience, and Declarations, Development Team, Development Plan, Detailed Financial Plan, Management Plan, Development Timeframe, and Purchase Price and Tax Revenue.
Lambert Advisory was retained by the City as a third party consultant to evaluate all four firms' detailed Financial Plans which was outlined in evaluation criteria/factor four.
After the proposals were evaluate...
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