DATE: October 13, 2016
SUBJECT:
Title
PRESENTATION AND UPDATE ON THE WORLD CLASS WATERFRONT DEVELOPMENT OPPORTUNITY (CENTRAL EMBARCADERO) REQUEST FOR PROPOSALS AND ADOPT A RESOLUTION TO OBTAIN CLARIFYING INFORMATION ON 1HWY1'S PROPOSAL, SUBMITTED BY GAFCON, INC., AND RETURN TO THE BOARD FOR FURTHER DIRECTION
Body
EXECUTIVE SUMMARY:
On February 22, 2016, staff issued a Request for Proposals (RFP) for the 70 acres of land and water located within the District's Central Embarcadero (Attachment A). On May 2, 2016, the District received 11 proposals, of which, six were deemed complete and moved forward for consideration. On June 13 and 14, 2016, the District hosted an open house, which over 1,200 members of the public attended to preview the six proposals, meet the development teams and provide comments. On July 13, 2016, the Board directed staff to exclusively continue discussions with the proposal and to further evaluate the Seaport San Diego (Seaport) proposal (Attachment B), while not making a final selection or eliminating the other five proposals.
Following the Board's direction, staff immediately commenced a due diligence phase by forming a cross-functional team to develop questions regarding the 1HWY1 proposal. On July 28, 2016, staff issued a Supplemental Information Request (Supplement) (Attachment C) to 1HWY1 and responses were provided between August 5 and September 19, 2016 (Attachment D). Staff reviewed 1HWY1's responses to the Supplement and prepared a qualitative analysis on 1HWY1's approach to project, relevant experience, capability to perform and revenue and expense projections and has provided a list of recommendations for the Board's consideration (Attachment E). Much work has been conducted over the last 90 days to provide the Board with as thorough an analysis of the proposal as possible.
If the Board directs staff to continue exclusive discussions with 1HWY1, staff recommends that both 1HWY1 and the District conduct further...
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