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Community Redevelopment Agency December 12, 2013 Page 2of8 1. Needs to have a proven market demand 2. Needs to have a synergistic relation with the Lake Concord Park 3. A special place with park like amenities 4. Include casual dining restaurants 5. Muck incorporated in to water features to add to the natural beauty of the site Mr. Newlon said that Mr. Larry Adams, ACi, is in attendance at today's meeting to answer any questions. He said the City received five solid offers from development teams to develop the site. He said after much evaluation and consultations with the City Commissioners, staff recommended to the City Commission formally at a public workshop on January 14, 2013 to work with Castro and Intregra to develop the City Center, Mr. Newlon reviewed the handout that was distributed to the CRA Board (a copy is attached and made a part of the minutes). In response to the Board's question, Mr. Newlon stated that the Police Station would remain as is because it was determined that the money derived from the site would not pay to relocate the Police Department. Mr. Newlon stated in July the City Commission approved the development agreement with a 3/2 vote which included the site plan included in today's handout. He said since that time some of the Commissioners have changed their minds on the design. He said the project has been stalled since July. Mr. Newlon said the time in the interim was needed to negotiate further agreements such as the Master Declaration, Design Standards, and the Construction Agreement. He said the proceeds the City was to derive from the sale of these properties was to be reinvested through the developers to develop the sites. He said the theory was that the sites were so needy that in order to get development the sites needed to be "pad" ready. Mr. Newlon said that it was not a vision that the City would see much money coming back to the City but the City would need to agree to a construction budget that explained how that money would be used to ensure the City received the value that was anticipated. He said that is a future agreement that needs to be executed. Mr. Newlon said the Commission expressed a concern regarding the relocation of the Public Works Department and preferred locating all the apartments together on one side of the street. He said that Commissioner Hufford suggested leaving the Public Works Building in place. He said that would require realigning Triplet Lake Drive to the north and it would require a partial demolition of the Public Works Building. He said the third apartment building would be relocated to the south. Mr. Newlon said that the Commission liked that plan. He said the