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2021-11-16 Joint Session of the Meridian City Council and the Meridian Development Corporation Board of Commissioners Packet Document JOINT SESSION OF THE MERIDIAN CITY COUNCIL AND THE MERIDIAN DEVELOPMENT CORPORATION BOARD OF COMMISSIONERS City Council Chambers, 33 East Broadway Avenue Meridian, Idaho Tuesday, November 16, 2021 at 3:00 PM Minutes MERIDIAN CITY COUNCIL ROLL CALL ATTENDANCE PRESENT Councilman Brad Hoaglun Councilman Treg Bernt Councilwoman Jessica Perreault Councilman Luke Cavener Mayor Robert E. Simison ABSENT Councilwoman Liz Strader Councilman Joe Borton MERIDIAN DEVELOPMENT CORPORATION ROLL CALL ATTENDANCE PRESENT Dave Winder Nathan Mueller Dan Basalone Tammy de Weerd Rob McCarvel Diane Bevan ABSENT Steve Vlassek Treg Bernt Kit Fitzgerald ADOPTION OF AGENDA Adopted ACTION ITEMS 1. Civic Block Request for Proposals Review Committee Recommendation, Respondent Presentations, City Council/Meridian Development Corporation Board of Commissioners Discussion, and Staff Direction Continued to future date to be determined Motion to continue to a date to be determined made by Councilman Bernt, Seconded by Councilman Hoaglun. All in favor. EXECUTIVE SESSION per Idaho Code 74-206(1)(a) To consider hiring a public officer, employee, staff member or individual agent, wherein the respective qualities of individuals are to be evaluated in order to fill a particular vacancy or need. Vacated ADJOURNMENT 5:55 pm Meridian City Council - Meridian Development Corp - Joint November 16, 2021. A Joint Meeting of the Meridian City Council and the Meridian Development Corporation was called to order at 3:00 p.m., Tuesday, November 16, 2021, by Mayor Robert Simison. Members Present: Robert Simison, Luke Cavener, Treg Bernt, Jessica Perreault and Brad Hoaglun. Members Absent: Joe Borton and Liz Strader. ROLL-CALL ATTENDANCE MERIDIAN CITY COUNCIL ROLL CALL ATTENDANCE Liz Strader Joe Borton _X_ Brad Hoaglun _X_Treg Bernt X Jessica Perreault _X Luke Cavener _X_ Mayor Robert E. Simison MERIDIAN DEVELOPMENT CORPORATION ROLL CALL ATTENDANCE Dave Winder _X_ Nathan Mueller _X_ Dan Basalone _X_Tammy de Weerd X Rob McCarvel X Diane Bevan Steve Vlassek Treg Bernt Kit Fitzgerald Simison: We will call this meeting to order. For the record it is November 16th, 2021, at 3:03 p.m. for the joint session of the Meridian City Council and Meridian Development Corporation Board of Commissioners. We will begin this afternoon's meeting with roll call attendance. ADOPTION OF AGENDA Simison: Next item up is the adoption of the agenda. Bernt: Mr. Mayor? Simison: Councilman Bernt. Bernt: I move that we adopt the agenda as published. Hoaglun: Second the motion. Simison: I have a motion and a second to adopt the agenda as published. Is there any discussion? If not, all in favor signify by saying aye. Opposed nay? The ayes have it Page 4 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 2 of 47 and the agenda is adopted. MOTION CARRIED: FIVE AYES. ONE ABSENT. ACTION ITEMS 1. Civic Block Request for Proposals Review Committee Recommendation, Respondent Presentations, City Council/Meridian Development Corporation Board of Commissioners Discussion, and Staff Direction Simison: So, with that we will begin with item one, Civic Block Requests for Proposals, Review Committee Recommendation, Respond and Presentations, City Council and Meridian Development Corporation Board of Commission, Discussion and Staff Direction. Borton: Mr. Mayor? Simison: Councilman Borton. Borton: At the outset I have and will continue to recuse myself from any consideration and discussion of these projects or others, so I will continue that now. Simison: Thank you, Mr. Borton. Cameron, turn this over to you. Arial: Mr. Mayor, Members of the Council, as well as the MDC Board, it's a pleasure to be with you. Cameron Arial with the city and the Community Development Director. Also have many colleagues here with me. Ashley Squyres with MDC and others. But we are really pleased to be with you, particularly with this -- the presentations that you will see and the prospects that -- that will be before you and what it means for our city and our downtown. So, I wanted to just briefly give you a quick background and summary, chart a path for this evening and, then, also get -- get right into the -- the meat of it, which is the presentations and the deliberations. So, real quickly as a --just a backdrop, the city and MDC have been hard at work on doing something here on this project for a number of years. I think it's safe to say maybe even over a decade, but we put this out for RFP. We got three fantastic responses, two of which you will -- you will see to -- see tonight and just to give you an overview, here is the -- the block that we will be talking about. Just a few elements to be particularly aware of is the city's properties, the -- the current community center, Centennial Park, and -- and, then, also the -- MDC's property, which is the -- the parking lot to the southeast there. I will point out to you as well there is that blue -- kind of light blue lines right through the middle of it bisecting it is the Hunter Lateral and we will talk about that -- that improvement, as well as potential improvements along 2nd Street and 3rd Street as well. So, just to orient you to -- to the -- to the site and to the -- to the proposal. Let me now kind of dive -- let's see -- right now. Okay. There we go. So, I wanted to just touch briefly -- really what we were going for with this -- with this RFP. I think it's -- it's safe to say that we need something special. Iconic mixed use project. Economic benefit. We are really looking for a team that can deliver it with the Page 5 Meridian City Council-Meridian Development Corporation-Joint Meeting November 16,2021 Page 3 of 47 financial wherewithal to do that. Also it's something that's going to be in compliance with our visions, not only for MDC, but also certainly for the city and the urban renewal plans in place. Parking is a big aspect of this and, of course, just the -- the overall project itself and what's being proposed and what we -- what will be delivered. So, I will just point you to that, that we have those components baked into -- into this and, then, of course, the -- the total possible points of 1 ,210. 1 wanted to just briefly highlight those that have been participatory in evaluating these proposals from the review committee. We brought together 11 individuals from across, you know, diverse backgrounds that really helped us evaluate them and you will be hearing from the lucky one. We -- we have Sean Evans from the Chamber here who will be representing the committee this evening. So, the results of that. What you will see here is there was a recommendation from the committee -- and I won't -- I won't steal Sean's thunder, but here is the results of that and you will -- you will hear Sean's detail on -- on the scoring and -- and the recommendations there. I wanted to highlight -- and you will -- you will have seen this in the staff report as well, but some of the key elements that we are trying to achieve from the public's interest out of this proposal both, from the city, as well as from MDC. So, there is the -- the community center site improvements. There is an estimate there of cost. Community center parking -- and/or parking. The relocation of the Hunter Lateral, potentially public gathering space improvements and the revitalization of 2nd Street. So, just to give you a taste for what those potential public items that we would need to cover in order to have a -- have a good project. And, then, again, I do feel it's important to note -- and this was in the staff report as well, that the community center was not a requirement of a response, but was certainly there for respondents to bake in if they so choose -- chose. So, from that and from the proposals, just to really focus you on the bottom line here, you have the two proposals that will be presented tonight, the River Caddis proposal, as well as the Pacific Companies November -- November Whiskey proposal. Based on what their project value we were able to generate a TIF revenue generation calculus for you and so you can see here River Caddis would generate roughly 11 million and, then, when you back out -- or adjust that for the community center, it's approximately eight -- 9.8 million in TIF generation and, then, the Pacific Companies would generate around 6.4, 6.5 million. Again just to kind of highlight, you know, what we were trying to accomplish, at least from the public's interest and, then, what the projects would actually generate. Now, I'm going to turn some time over to Ted briefly for some procedural comments. Baird: Good afternoon, Members of the Council and the Commissioners. I am Ted Baird with the city Legal Department and I just want to briefly go over what's happened up to now and what will happen when you take over. According to the specifics that were contained in the request for proposal, you are not bound by the recommendations from the review committee. You can consider that recommendation, along with the presentations that you hear today. You can ask for clarification. You can ask for additional information to the presenters after they have made their presentation. The most important thing about -- about your task that's ahead of you is that the intent is that an award, if one is made, would go to the proposer that both MDC and the city feel is in their best interest. The interest of the parties was a recurring theme of the RFP. So, after your deliberations today, if you are ready to move forward and pick a preferred developer, you can give guidance to staff regarding contingencies and requirements that the staff would enter into Page 6 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 4 of 47 negotiations for a DA, OPA, and other guiding documents. Those documents would come back to you for approval and you could approve it at your sole discretion. Just a brief jump ahead, if those discussions with the first preferred developer are not successful, the staff will come back and let you know where we are and it would be your choice whether to terminate negotiations and whether--after that whether you want to engage the second preferred developer and, finally, just the asterisk at the bottom of your screen, we are not approving the transfer of the property at this time and we are not approving the use of the TIF revenues at this time, so -- are there any questions with that legal overview? Thank you for your time. Arial: So, just -- as just a quick overview, as next steps from staff. So, you know, we -- we as staff are -- stand ready to listen to or take any feedback, any commentary that you would like to see going forward, but we would look to vet the preferred developer for their ability to sufficiently complete a project and that would include their financial viability. So, just want to make that clear, that we would go through that due diligence. Obviously, if there is -- to verify that any TIF supported infrastructure improvements were -- are qualifying, so that, you know, they comply with state statute and what have you. Also to make sure that the TIF, in order to support those improvements, is sufficient to do so and, then, we would also negotiate and consider milestones that would need to be completed, as well as any, you know, liquidated damages for nonconformance or nonperformance. We also may consider, if you so choose, an audit from a third party of any pro forma or financial information and, then, also, you know, make sure that we are validating, you know, developer equity and those types of things, as well as cap rates and assumptions behind that. So, we can -- you can validate a proposal. And, then, of course, if that isn't -- doesn't meet the specifications that you put forward, we would come back to you, report regardless, and seek your guidance as to how you would like to proceed. If you would like to go to another respondent or so on. So, to that point, you know, there really is three possible outcomes. You can accept the -- the committee's recommendation and Sean will get to that. To go forward with River Caddis with any other, you know, additional considerations or direction there. Go with a negotiation to enter negotiation with Pacific Companies or reject all proposals. Those are certainly all on the table for you. And, then, again, to -- somewhat to Ted's point, there are future considerations as well. So, enter into those negotiations, see where that takes us, bring back a potential for a development agreement and owner participation agreement for your consideration and that's when, you know, it gets real; right? So, we are talking transference of property, as well as commitment of revenues on city and MDCs part. And, then, of course, we would continue to work with Nampa-Meridian Irrigation District on the relocation of the Hunter Lateral. That's certainly a big part of what staff would be a part of, as well as the --the revitalization of 2nd Street. And with that I think I'm going to turn it to Sean. Evans: Thank you, Cameron. Mr. Mayor, City Council Members and MDC Commissioners, I want to thank you for inviting me to speak today on behalf of the review committee and the review committee would like to also thank you for inviting members of the community to participate in the review process for this project that were submitted in response to the RFP for the civic block project in downtown Meridian. Our purpose to review -- our purpose was to review and evaluate the submitted proposals and Page 7 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 5 of 47 recommend to the -- to these bodies a preferred project and developer. The review -- the review committee had the opportunity to meet with and discuss the goal of the process and review the submitted projects prior to interviews and presentations from the developers. It was clear that the goal was to identify an iconic signature mixed use development that enhances the character and vitality of downtown Meridian. The projects that we reviewed all had their own unique and creative perspectives of the project, ranging from three stories to eight stories, from 124 units to 173 units. Some utilize the second street for public space, while others included an outdoor plaza and rooftop gardens. The committee posed great questions to each of the developers based on the submitted proposals. Some projects did not necessarily meet all of the requirements. Net parking was one of them that was a great concern to this committee and some questions about how they would continue to meet those needs. Some of the projects included a community center in the proposal, even though that was not a required element of the RFP. Respondents were asked about changes to their proposals that might include including commercial spaces, increasing parking and what their projects might look like if the community center was removed from the project or added to their proposals. In the end we reviewed three proposals that all had their merits and asked to be scored on the project criteria that included is the proposal likely to deliver a signature iconic mixed use development? Is the proposal likely to achieve substantial economic benefit to the community? Does the respondents and their team have the qualifications and experience necessary to deliver the project? Does the proposal substantially conformed to the vision of the destination downtown, the Meridian revitalization and union district plans and the Comprehensive Plan of the City of Meridian? And, finally, does the proposal demonstrate creativity, innovation, and sustainability regarding the scope and design of the project? All of this was subjective to each of the committee members view of the presentation and what they, too, had envisioned for downtown. After each committee member submitted their score cards, it was clear that one project stood above the others in the view of the committee. The review committee officially recommends the River Caddis project to be considered by the City Council and MDC board as the project to -- for the civic block and to continue the redevelopment of downtown Meridian. We wish you the best in reviewing the proposals yourself and have confidence that you will make the best decision for this piece of land in our wonderful downtown. Thank you. Simison: Cameron, anything else or would you like to see if there is any questions? Arial: That's staff's presentation. Again appreciate Sean's commitment there, but, yep, we are open to any feedback or questions and now leave it to you and the presentations. Simison: Thank you. Any questions for staff? Okay. Then who do we have presenting first? De Weerd: I guess I do. I was looking at the overall scoring and I did not know what all of them weighed them, because there are more than nine lines. So, can you maybe go over the scoring and what they represent? Arial- Mr. Mayor and Commissioner De Weerd, one moment, let me pull that slide back Page 8 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 6 of 47 up for you. Happy to do it. All right. Hopefully you got -- you all can see that --that rubric there. Okay. So, what you see on the far left here is the -- the total composite for those that scored the --each of the proposals. You see on the far left column is the River Caddis scoring, then, the Pacific Companies and LCSG, which, of course, they have withdrawn their -- their proposal at this point. So, we are really just looking at the two. You can see there River Caddis had a total of 912 points and Pacific Companies had a total of 786 points. The far right column indicates the number of first place, second place, or third place scores that were given. Simison: I think he's going to get into what your question was, what are the category scores that were selected. De Weerd: I guess there is -- if you look at the RFP there is nine different spaces and what you scored points on and there is 11 lines and so I just was trying to line them up to -- Aria-: Sure. De Weerd: -- what the committee's thinking was and what they were scoring to. Arial: Perfect. So, Mr. Mayor and Commissioner De Weerd, so what you are looking at here is each individual scorer's total scores for each proposal. So, this is not the individual breakouts of each of those. If that makes sense. So, each -- so, each proposals -- so, for example, the top left there, River Caddis, it was given a score of 90. That's the total score from that committee member, which, of course, is a total of 110 possible. They gave them a 90, if that helps. De Weerd: That makes more sense and trying to make sense of trying to see -- Arial: Yeah. Fair enough. And, then, just real quickly, so you see on the right there is the number of first place, second place, third place scores they received and, then, we assign that a point value and so you can kind of get a sense for that with the bottom column, but that's -- that doesn't necessarily have any relevance in the scoring, it just gives you a sense for the number of first place, second place, and third place scores that -- that each respondent received. Simison: Any additional questions? Cavener: Mr. Mayor? Simison: Mr. Cavener. Cavener: Thanks, Mr. Mayor. Cameron, I know you kind of moved through some of the scoring stuff a little fast for me. I assume no deference or bonus points awarded for a local applicant versus somebody from out of state? Arial: Mr. Mayor and Councilman Cavener, that's correct. So, there was no -- there was Page 9 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 7 of 47 no point value for a local developer. Cavener: Okay. Thank you. Thank you for putting those back up, too. That's helpful. Simison: Any additional questions? All right. And, if not, who is going to be our first presenter? Arial: Mr. Mayor, I believe we have the River Caddis team on deck first, so we will turn some time to them -- Simison: Okay. Arial: -- if you are ready for that. Simison: I think we are ready and are we limiting time in presentation? Arial: Yes, we are. So, limit of -- I believe it was 20 minutes and, then, ten minutes for question for each. Johnson: The mouse is very touchy. The keyboard will work great. McGraw: Well, can you guys all hear me? Okay. Is this better? All right. My name is John McGraw from River Caddis. Thanks so much for having us. It's so nice to be here in person other than on a screen. Maybe it's a little bit easier to judge everybody's reactions as well. So -- well, we have a presentation designed for today. We have a timeline to go through a lot of what we have designed and I sent over the -- the presentation into a PDF as well, so it could be printed if you guys have seen it. If you have gone through our presentation there is a lot of similar things that you are going to see today, so the flow of this presentation is going to be more dialogue, hopefully, rather than just me talking at you guys. We have not had a lot of feedback on our project that we have -- we have presented and so I'm going to kind of jump into who we are as a group and you can see our team here. Simison: Just for the record no one has seen your proposal yet. This is the first time everyone has seen it. McGraw: Oh, really? Simison: Yes. McGraw: Okay. Simison: If that helps adjust your timing. McGraw: Yeah. Thank you so much for letting me know. Okay. So, River Caddis. We are from East Lansing, Michigan. We are not from Idaho. We have built and designed Page 10 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 8 of 47 and developed and own a project downtown Boise, Idaho. We are a family company. We have a company of seven people. Our -- how we structured, how we look at projects really is -- we walk into each project -- and I can get into this a little bit more, but we walk into each project with the idea of community engagement, with adding value to communities. You know, a lot of times we are from out of state and being not local, coming into a place and developing, it's really hard to understand what people want. So, we ask a lot of questions, we try to collaborate a lot, try to work with people and, then, reverse engineer a plan that works. That enhances the identity of a location, not says River Caddis has a plan and they want to put this idea in a location. So, from that respect we have really backed into public private-partnerships, because that way we are able to take ideas from municipalities, from stakeholders, from community members and reverse engineer what this deal could look like and that's why this project was intriguing to us. It's not the first time we have heard of it. I did meet some folks within Meridian when this first came up and I didn't believe it was necessarily ready. I thought this project was too -- too challenging. The rents weren't quite here yet in Meridian and what was looking to be done was complex and we have just gone through it -- through it in Boise. So, we understand the complexity of these public-private partnerships and we were concerned back then and, to be honest, concerned now. This is a very complex project that we are proposing. When you start working with government, with municipalities, and you are trying to take an idea from what people think or want, to see now and, then, into the future, you run into a lot of challenges and, to be honest, it's not really the first plan that you see that you need to choose, it's the group -- our presentation, our RFP is designed as such to say, listen, we are taking from 15 pages what we think you guys want and we are backing into this idea that we think we can make work, but I also know I cannot make it work without full collaboration, without us working together, without a give and take relationship, without dialogue from each member community engagement. Stakeholders, working with you folks. Now, this is such a hard process that if we are just coming to the city of Meridian and saying this is what we see here, this is what should be here, you are not going to get the best project. You are not going to get what's best for Meridian and we don't want to be involved if we are not going to be able to provide you with the best project that you are going to be looking at for the next 50 years. This is a big structure and we don't know if this is what you want or need and we can't wait, if we are selected, to get into the nuts and bolts of what this looks like. But it requires a lot of work. So, our presentation -- and I'm sorry, I didn't know that -- I thought everybody had time to review the 57 pages or such, but the slides are showing here our experience and it feels a little egotistical to show these things, but I -- it is important for us to look at. Simison: Yes, Mayor Tammy. De Weerd: I think it is important that you know that we did get it in our packet -- our packets were the first time we saw it, so -- McGraw: Okay. De Weerd: -- we have seen your packet of information. McGraw: Okay. So, you have seen my -- Page 11 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 9 of 47 De Weerd: I just wanted to make sure that was clear. McGraw: Yeah. Well, I mean if you have seen our packet, it's an inch thick, so there is a lot of stuff to go through in 20 minutes, but, yeah, if you guys have seen it, you know, we are -- collectively we have a strong group. We have people that are local, hyperlocal, regional and, then, national and we did that on purpose. I understand that I'm not from here, but it doesn't mean I don't have an immense amount of passion for this region. It doesn't mean that I come here and I feel something special, that I have this intuition that this place is an awesome place, that I like spending time downtown and getting lunch and -- and I believe it can be the difference between a house and a home and I think that we can present that and propose that and develop that for each one of these folks that are potentially going to live here and it's not only just living here and taxable value, but also increasing the sales tax, increasing the butts and seats for the restaurants, allowing people to be downtown, live downtown, walk downtown, sit and enjoy everything. So, we have a case study. Jules On 3rd. Now, if you -- if you have seen -- this is the rendering, but if you have seen some of the other drawings that we have shown the site plans, you will see that the structure is very similar to what we are proposing here for Jules On 3rd and there is a couple comments also to the fact that it's duplicative or it's similar to our project in Boise and I do want to clarify that we are not trying to recreate anything that we have done in Boise. This is a Meridian specific project. The structure can be similar. This is an L-shape. It is .02 acres difference. It is almost the same exact layout in terms of land as -- as Boise and we had a project that works that we spent years creating efficiency from. So, we are using a very similar structure in that, but the outside will be different and that takes stakeholder interest, that takes communication dialogue. We want to work with you guys on what this looks like. We want this to be that iconic feature that you guys see. Here is a couple of pictures from the 5th story pool deck. Here is another one. I mean I'm from Michigan and there is mountains in this. We don't have mountains. When I sit out here and I see this I have a wonder that I can't explain. I grew up with flat everything. So, seeing mountains means something and it -- it truly is special. Being able to see this on a 5th story pool deck I can't imagine what this would be like to live at. So, I have a -- I have a video here, kind of does a time lapse. I don't know if you guys have seen from the PowerPoints, but this -- this should give a pretty good idea quickly, hopefully. Does the build -- this is the building in pretty much 30 seconds and I don't want to -- since I'm probably going to run out of time here, I don't want to go into all the subtle differences, but you can see on one of them just the outset of the bricks. You know, there is little subtle things that we can do to make this uniquely Meridian and we intend to do that with -- with all of your help really. I don't want to take on this project by myself. It truly won't be as good as it can be if there is no collaboration. This slide is a good representation of the things that we were trying to achieve through our objectives. You know, 414 parking stalls, 137 units. We -- nobody's really brought this up yet, but we have -- a mind of its own. We have integrated into our pro forma a ten percent workforce housing. I don't know if that's something that is -- well, I have read your master plan and I have seen that it is part of your plan of providing a diversity in housing and so we have included that into our design. It's like that all across the nation. You know, affordable housing, housing that's affordable for people to work and live downtown is incredibly important and so trying Page 12 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 10 of 47 to do that with you folks is -- is one of our goals. We have also provided a structure that includes the community center into this design. Here is our site plan. You know, some of the main things that we are trying to do here, based off of the -- based off of the RFP is to create two iconic corners, create an excess of parking for residents and for public use. Create an activated street on 2nd Street, a festival street, to -- to represent what the master plan is trying to achieve really a publicly engaged place for -- for people locally and regionally to participate and to patronage, to -- all -- all of these different things that --that this street can be and, then, tie all of this into a complimentary design, while keeping in mind that it's one of the first eight story buildings in this area. So, as you can see, this is our site plan -- and we can get into this. I would rather talk more about a couple of different other things. This has been in the plan. We have built this. We understand that there is efficiency that we know how to get through this building from our team, both our national and local team. We have taken this design and inputted the 20,000 square foot community center, which we intend to work directly with the -- the governing body of-- of that community -- community center in providing this turnkey building if they would like and that can look like a bunch of different things and someone's opinion today of what they want to see might change in six months. We don't know and we have to work through that. This is a hands-on iterative process and it takes more than just talking to get through. We got a lot of work to do. Here we just show our matrix of-- of units versus stalls. I just have a couple pictures in the -- in the presentations I went into far greater detail to discuss certain different things in here that I wanted people to see, subtle details, the difference of materials going from the street level all the way up to the top of the roof. The introduction of live walls. The trees on the amenity deck. Just different little design features that we like today, but I don't know if you like and we have to walk through and see if this is a compliment or if this needs to be altered and you can also see in that other drawing here the festival street and what that could look like if there is a semi-consistent farmers market or art show or -- of some sort. And, then, this is the community center. So, we wanted to tie in some historical representation of what we believe an iconic community center would look like that would -- that would be a draw. We have included many different features into this that are wider, quicker, cheaper or easy changes. There are inset of windows that -- that create benches for people to sit and have coffee. A place for you to walk your dog and stop. A place for you to talk to a friend. Just small things. Biking. Lighting. Plants. Just things that make this feel like home and make it feel safe. They make it feel clean. They make -- make it feel like they -- if they are not from here they want to be from here. So, jumping into our financial, which is something that we -- we took an interesting approach to I guess you could say. So, instead of saying, hey, this is the project, this is what we can make work, we are showing you a gap. Showing you a gap in the process. We are showing that we are not fully going through all of the revenues that can be gained, but this is a public process. This is a competitive process. This is a process, in my opinion, where if we are qualified and we know how to do this, then, we are asking the City Council to choose us and work with us, because this is hard and there isn't an answer today in my opinion and if anybody says that there is for this type of project that is this complex, then, I would be leery of that. But we are ready to get -- in get in and work with you and figure out a way. But as I said in the beginning, this is collaborative. If the city is willing to work with us, we truly believe that we can make this work. It wouldn't be the first one that we have made work and we are good at working Page 13 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 11 of 47 with people and I'm sure you are going to have questions on this and I'm just going to keep going. Three minutes. So, pros and cons. This is kind of the list that we have gotten and I could go through these, but from what I have seen -- and I don't mean anything by this, but from what I have seen if -- if I solve for one I'm going to make one side angry and if I solve for the other I'm going to make the other side angry. So, I put them side by side. Sometimes there is enough parking, sometimes there is not enough parking. Sometimes there is enough community space, sometimes there is not. But the main takeaways from this are we have not provided enough commercial space. There is a lack of public space, plaza space, and there is a lack of finance information. So, we can walk through all of those things, but these are all things that we solve collaboratively. We don't know how much retail. We do know the market. We do have brokers in the market. We -- if I put in commercial space, then, I would have had to add to the gap, because we don't know if we can fill it. We don't know if it's five years it's going to take to fill or if it's going to take two years. So, we wanted to be realistic with this process. We wanted to walk through with -- with you all and say this is what I see today. This is what we think we can do. Now, if this needs to be changed let's work at it together and that goes for financial, the plaza space, and that goes for the commercial space. So, here's our opportunity. Now, I can go into -- these are all of the people that I have talked and I can give soft commitments and I can say a bunch of different things, but none of them are concrete. I can't promise anything today. I can tell you that I have -- I'm working with a local hotel group to put in a boutique hotel. But as you can imagine if we take out the community center and put it in a boutique hotel what's going to happen to the site plan. We have a complete restructure of the entire deal. The amount of parking, what the design looks like, what ownership looks like, the difference in -- in so many different things and we are just not going to go through that entire process until this is something that the city wants to go through with us and it's also a process that that hotel group won't call a market study for unless we are chosen. So, again, it's something I can say, but it doesn't mean anything in my opinion; right? So, we do believe that that is an option going forward, but real opportunities here are you have a group that came here from Michigan; right? I have got my architect who is from Minnetonka. Jay is here to talk about the design if you want to talk about. Got Mark Sindele, who is from Boise and from Seattle and I have got my father, who traveled from Florida today. So, we are from four different states, just happened to be today. I think, actually, Art came from Chicago. So, I don't even know how many -- three different time zones -- four different time zones and we came here for this. We are pumped about this. I'm excited. I really want to work with you guys, but saying all that, we don't know if you guys want to work with us and we have questions, too. We don't know if this relationship makes sense. We don't know if the project makes sense and I'm concerned about wasting my time and wasting your time. You should go with the group that you feel comfortable with and you go with the group that you think that can deliver this and I don't know today if I'm that person, but, hopefully, we have provided enough -- time is up -- enough for you guys to decide. So, thanks so much. Simison: Thank you. Council, Commissioners, questions? De Weerd: Mr. Mayor? Simison: Yes, Mayor Tammy. Page 14 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 12 of 47 De Weerd: So, I will tell you, if you are looking for feedback, I was really appreciative of some of the different elements that you built into it, including your amenity deck, although I think you really need to have a view to -- to the Boise foothills, which you block with your building, but I -- I thought that was an excellent amenity. I got excited and I spoke to our parks director on our way in and -- and festival street is really exciting. 2nd Street has always been an interest of mine as I saw this great amenity down the middle of it. So, would love to see that vision for fruition. So, I saw a lot of possibilities and I -- I also do Like the design of-- of the building. I do think that you hit the cons correctly in terms of - - I did question, you know, is mixed use really a community center an apartment and so that was a question of mine, so thank you for throwing that out there and letting us know that you have work ahead of you. So, appreciate that. I do have a couple of questions in terms of what did you do in advance to create the proposal that you brought to the committee. That's question number one. McGraw: So, can you clarify -- De Weerd: Yes. You mentioned that you like a community engagement and a collaboration and you tried to understand the community before you. You really work with them. So, when you created this proposed did you come to Meridian and do some advanced work to understand our downtown and what elements that you are proposing in what we are seeing today? McGraw: Yes. So -- thank you, by the way, for clarifying. So, I think it was 2018 or '19 was the first time I stepped foot in Meridian. I met with Cameron and Ashley, I believe, about the -- this RFP. I only knew about the RFP. I wanted -- I didn't know if I was going to respond to that RFP, just because I didn't know if I was the right fit at the time and also there was some things in there that I think, as I said earlier, I didn't think that -- I thought it was too complex for the moment and we are in the middle of going through some heavy condo association negotiations with Ada county. So, that was my first time in town. Since then I had -- I have been searching in Meridian for a place to do something. Now, there is land around that we could have assembled and build three story walk-ups, garden style and there is nothing wrong with that and we do it -- we do it in Michigan and I like doing it. But I didn't feel like it was impactful. I didn't feel like it was the right fit for us to come and build that unit when I know that there was a need and until this was like -- this -- this felt more real. I really started diving into trying to make it work. Talking to the right folks about assembling a team. But when you asked how much can you know about a community, I grew up in one place and I still barely know that place. I know some thinks about it, but it's all my own opinions and conditions and what I think I see. So, I try to do most of it through conversation. I try to sit done with coffee and get to know people who are from here, what they like to see, different brokers, met with Cameron quite a few times well before this. Came out just to find out -- because he knows quite a bit about the area. He is able to talk very honestly about the city and I don't know if you own this, but The Vault? Yes. You own The Vault? I spent too much time there. Yeah. I really enjoy it. But I really can't speak to how well I know it, because I am not fully involved yet. This is kind of my first step. My opinion. Page 15 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 13 of 47 De Weerd: Mr. Mayor, just -- Simison: Yes. De Weerd: -- another question. One is rental versus own. You mentioned that you were doing some work or in Ada county with the condominiumization -- did I just make up a word? Doing condos over there and I assume that that was the county space versus the private space, but will you have a mixture of rental and the potential of condom iniumizing some of the units, so that people can buy it? McGraw: We have not gone through that analysis. We have only gone through the rental market. From our -- you know, again, this is going to be a different project. There could be a lot similarities with our Jules On 3rd project, but the condo there is a vertical and horizontal condo structure between River Caddis and Ada county where they own the parking structure, but we have shared ownership of stairwells and roof, building envelope, elevators and, then, we also have commercial on the outside of it. So, while that's a condo, it's the -- the condo is the difference in ownership between the parking structure and the commercial and residential. De Weerd: Sorry that -- McGraw: No. That's okay. So, on this project we are -- we have only talked about and done our resource based -- based off of rental units. For rent. Simison: Have one more? De Weerd: Yes. But I don't want to dominate. Simison: Well, what I was going to make a suggestion -- I don't think we can get through questions in ten minutes for people. I would like to think that we can do minimum 30 minutes if -- as long as we are not delaying people from catching flights or other things this afternoon. So, we give adequate time for people to ask questions. Does that create problems or challenges? Okay. Then we will put on for 30 minutes. You have used eight. So, 22 minutes left and we have people -- Councilman Bernt. Bernt: Mr. Mayor, there is -- I was on the -- the committee and so I don't have a ton of questions myself, but we have a Council Member who is not with us today and she wanted to have some certain questions asked, so I'm going to ask you some questions on behalf of Council Woman Strader. First question she had was in regard to cash equity that you and your group are putting in the project yourself. McGraw: We are the owner investor. Bernt: Okay. So, no type -- different types of financing will be needed I guess? McGraw: Well, it's hard to say exactly. We go into our projects as the owner and we Page 16 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 14 of 47 invest the equity ourselves. Bernt: Okay. Fair enough. For clarification, are you going to -- I believe you are going to own the community center; right? You will -- and, then, what does that look like from the city in return? Will you consider us a lessee, a long-term lessee? What does that look like? McGraw: Well, that's not necessarily -- we have not proposed that. So, I'm not sure. It kind of goes to the collaborative. It's hard to say. We can consider that as an option if that -- we haven't been told that's what's wanted; right? So, I'm assuming that they wanted to own it and so we would figure out a condo structure where they -- they would own their own community center. That's what we assumed, but I -- that would be necessary. Bernt: Yes. Yes. McGraw: But, again, that-- that all happens with what you guys -- or what the community center and everybody else wants to do. Bernt: Okay. That's it. Thank you. McGraw: Thanks. Hoaglun: Mr. Mayor? Simison: Councilman Hoaglun. Hoaglun: Mr. Mayor, yes. I was on the committee as well and one of the things I think that's very important as -- as downtown Meridian matures is the fact that we need to have adequate parking. That's always one of those things. So, could you walk through -- it was on your slide, one of the things, but it was one of the many honeycombs. Can you walk -- walk through this -- what your plans are for parking for this facility? McGraw: So, how we had it -- it's a proposal; right? We have a concept. We have nothing more than a concept and right now that concept shows 414 stalls. We tried to add in all the stalls requested for the community center, plus 50 additional stalls to that and, then, we have one stall per unit for the -- the residential side. So, there are a ton of questions as to financing, as to how that is operated, how that is managed, how it is taken care of and that -- that is and could be a six month process. So, that is something I can't wait to work with you on. Bevan: Mr. Mayor? Simison: Commissioner Bevan. Bevan: Thank you. So, a lot of your presentation was talking about the relationship side Page 17 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 15 of 47 and wanting to listen to the thoughts and views of the community and -- but, then, when you mentioned a potential hotel boutique and that you weren't going to enter into those conversations unless you were chosen, I completely understand that. So, as you go through this process and you have the conversations about the community center versus a hotel boutique, can you -- and I know that you said many many times that you wanted to hear from us and that you wanted to hear and have that relationship, but I would -- I would suspect that you have a choice, personal idea of a hotel boutique versus a community center. Can you share with that -- with us -- and maybe you can't because you still haven't like penciled in the numbers, but if you were to have that conversation is there an area which you are leaning towards? Thank you. McGraw; That's a -- that's a tough question. So, that -- that would depend on a lot of different things; right? A lot of what -- what I want is probably going to be tied to what you guys want to see; right? So, if you don't want a hotel, but I do, then, it becomes a weird process; right? So, if you guys are like we really want to see this community center -- and, again, it's hard for me to present what's best for me. So, what I would be looking at in this situation that you are talking about is I really want to find out which one you would rather have and, then, we would have to redesign the entire building around it. If you are asking me today, making the assumption that you guys wanted a new community center and you wanted it here and what you have seen today is a good product and that you can work with me on and we can have an open book discussion about how the thing gets delivered, I would rather do what we have planned today. Perreault: Mr. Mayor? Simison: Council Woman Perreault. Perreault: Can you share with us more about 2nd Street and how the festival concept came to be? Are you anticipating that this be a walking only street where it's going to be designated that way and you are going to go through the public process to section that off or can you give us more understanding of what that looks like for pedestrian access versus vehicular access? I have some concerns with the project that's going in on Broadway, that 2nd Street traffic is definitely going to increase and so I'm curious if we are now moving -- you know, if we are losing a really critical block, considering that there is retail and apartments going in just on the corner. McGraw: So, I would love to say that it was my idea, but it -- it wasn't. I mean I think that, you know, the masterplan and the corridor authority -- the downtown plan, it's had this plan to increase downtown. So, I just -- we just check what we have seen across the nation in different areas and said, well, this is a prime spot for a festival street and a festival street can be whatever you want it to be in terms of an operating agreement. You can close the street. I'm not proposing that today. It can be closed for certain portions, but that's something that we all decide on. But we are going to have to look into traffic, we are going to have to look into a bunch of different things before we really make that decision. I think what the goal is within this public-private partnership is to give it the look and feel of a festival street. We don't have to close it down, right, but we can give it that Page 18 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 16 of 47 look and feel where it is different, it is distinct, it is unique compared to other streets. People know when there is not tents up, when there is not a festival, when there is not an art show, that that's the festival street and maybe there is something else going on there; right? It's placemaking. It's -- it's to create place. But the logistics, the operation, all those things are all something that we -- we work through with you. Again, just like you can make any decision tonight, this isn't a concrete plan. This is a concept and I want to find out more from you guys. Simison: Commissioner Mueller. Mueller: So, I have practical numbers here. So, the 12 -- roughly 14 million dollar gap between the community center and the parking stalls, a majority of the gap comes from the parking stalls. We have seen quite a few developments down here -- or at least proposals. So, the interesting thing about this is you have got 174 apartments, I'm looking at the build out, you know, you have three bedroom, two bedroom in there, so one parking stall per apartment won't be enough. So, the overflow -- you know, roughly you are really talking about maybe less than a hundred truly public parking spots would be my guess by the time this is all said and done. So, what I'm curious on is this is all math, so, I -- believe in the whole -- like we have to work through some of these problems together. I'm trying to understand how the math works here, though, because the parking -- you know, when you would get TIP dollars or city dollars toward parking, it has to be towards public parking generally for the most part. We have got a 12 million gap on 414 spots and best case in 80 to 100 of them are truly public. How do you -- and, then, you have a 20,000 square foot community center that really probably isn't very well revenue generating for you that's using a lot of real estate; right? How does the give and take on this structure work eventually to try to solve that gap? McGraw: That's a fantastic question. So, as I mentioned, I purposefully put in a gap analysis and I also purposely left out the intellectual property of how we would do this. All right? So, there are many different structures and I could propose one. So, when -- when we talk about these numbers, right, where there is a lot to solve, all right? I don't know how we are going to pay for this deck, you know. How are we going to operate this? How are we going to regulate how many cars someone has. All right? If they have three cars and they have a studio apartment, then, we have got a wonky number here; right? So, we have these questions and we have to work through those. We have to put in strict management agreements; right? We have to have an operator who understands that there is people that have more than one car, there is different gates that we can put up to -- to stop that, to regulate that, but, again, I mean I don't -- I don't want to keep coming back to this. We have to work through all these issues, but we really do. But on the other aspect when we talk about revenue, if we want to talk about bringing more revenue in for who is going to pay to park here to pay for this, well, if there is free parking downtown who is going to pay to park; right? So, how -- how are we going to do it? And this is a question --this is -- it's not just one, I mean we are talking about a process. We are talking about ten, 15 years into the future, right, and if you can't -- I mean revenues pay for things and we got to work through it and I don't know the answer. Wish I did. Hoping we can get there. Page 19 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 17 of 47 Fourniea: My name is Jay Fourniea, I'm with Opus Architects Engineers. I'm one of the design architects on the project. Just wanted to touch on the parking ratios. So, you are right, we -- we use the zoning of the City of Meridian as a mixed use vertically integrated project, which is one stall per unit in terms of analysis, but if you look at the overarching numbers, if you take one and a half stalls per unit, which is I would say across the nation a pretty standard number for development teams, where it's pretty comfortable. Usually It's more than the 1.25, because we are coming in a multi-modal community across the country as well, but if you take a 1.5, you would have 260 stalls for the apartments at that case. That still leaves you 150 stalls that could be towards the community and, then, there is also the opportunity with shared parking. So, there is night and daytime opportunities, because a lot of the time people in the apartments are gone during the day, which is maybe when there is more community events going on and so there is an exchange of sharing that parking, so you don't overbuild for the future, just like John is talking about. You want to make sure you build the right amount for today and be able to flex with what's going to happen in the future and, really, if you are looking at the development across the country as the future it's actually people driving less and less ownership of vehicles as they share more through, you know, shared cars, Ubers, that type of opportunity. This is still a pretty transportation heavy community, but you are trying to work into a more multi-modal community and we want to be a part of that opportunity as well. Mueller: One quick question just for clarification, because I know you will know the answer to this. The most expensive construction in here, when you are comparing like parking -- additional parking to like -- I mean it is the parking; is that true? If you had to add more parking versus like a community center style building, what costs more? If you move things back and forth, what generates a small gap and a big gap? Fourniea: So, price per stall, it -- it's very expensive to park and put it in a structure, you are right. Going down to build basements doubles, triples the cost of every parking stall, which is why if you look at our plans we really don't have a basement parking solution, we had to go up top. That saves everyone cost. When you get into -- is that cheaper than the community center, the community center is in the same structure as the parking, but now you are paying for maybe tile finishes, sheetrock, paint, how -- how dressed up do you want to be or dressed down and so on a square foot basis the community center is probably going to be more expensive than the parking, but if you say your value and return, where are you going to get the most bang for your buck, if parking's free in the city, is that the Community Center and the return to the city or is it the parking and having more parking as you continue to develop and increase density downtown. Cavener: Mr. Mayor? Simison: Councilman Cavener. Cavener: Thank you. First just kudos to Commissioner Mueller for really drilling deep on kind of a question I had and he presented it in a very articulate manner and I appreciate Page 20 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 18 of 47 the response. My question is a little bit going back to -- and something that I applaud you for doing this kind of shining a light on -- on some of maybe the cons of the project. One that stuck out for me that I'm hoping you can walk me through is absence of, you know, open space, playground space, green space. Your, you know, Jules on 3rd product has a great natural amenity across the street in that great city park and on this particular project we are losing city parkland and I'm just curious maybe if the team can summarize the thought process that went into that and maybe what we tell our downtown residents that are losing access to some really key green space that not easily found in downtown Meridian that's accessible to the public. McGraw: Great. Thanks so much. So, I have Mark Sindell from GGLO and I'm going to have him touch on some of those, but I -- before he does, one thing I would like to bring up is that I have talked today about this iterative process, this public-private partnership, and we understand that we are displacing something, that there is a park there. We don't know where that park is going to go. We don't know if we are going to replace it. It is something that we want to work with you on. Can we replace that? Is there something that's in this design or is it something that's off site? These are all things that we want to work through. You know, there might be extra land that we can create a -- a new park that involves the same or some of the same equipment, because equipment looks like it can be moved. At least some of it. So, I don't know what that -- what that looks like, but from the design perspective the placemaking perspective, I have Mark here to help kind of touch on why we did this this way we did it today. Sindell: Thanks, John. Mark Sindell with GGLO. Pleasure to be here. Work mostly out of our Boise office at 1199 Shoreline Lane. So, I had the benefit for being on the Union 93 Team -- am on the Union 93 team and also I had the benefit of working with several of your staff who have been fantastic on the prior rendition of this before and we really tried to sort through a process -- and back to some of the questions that were asked earlier about priorities for you and for the community and, then, we look for those overlaps where we are trying to fit a lot on this site. So, for this proposal, as John says, it's flexible, we looked at everything holistically. We have heard about the festival street desires and we tried to do something that could meet that and back to the other question, I think John answered it properly, we have done a fair amount of these and we have found that leaving them open to traffic and closing them for events and giving you flexibility to go back and forth is a good start, much like we did for Caldwell and Indian Creek Plaza and Arthur Street, if it organically is so successful that it closes, that's better than forcing it, so we can get into that later. But we looked at festival street, community center, private amenities and we also looked at Union 93 and what would be designing across the street with a pretty generous plaza that hopefully you have all seen and know and we thought, okay, priority wise if we look at the projects together, we have got a significant plaza, public plaza, for Union 93 that faces this. We faced the community center towards that. We have a festival street. So, as a competition of activated urban open space that complements what the rest of the City of Meridian has, we felt that's pretty good and, then, getting, as John said, the rooftops or the people with the unit, getting the community center and the other things In an iconic build that held the street and the corner, much like we have heard from you on other projects in other forums, seemed like the right mix Page 21 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 19 of 47 for your downtown. Now, again, that's just our thinking from what we have heard and trying to put things together and, obviously, there is some flexibility in that, although there is a lot of stuff, as you all know, that we are trying to fit on this site, so we thought that that was the best balance that we could accomplish with the time that we have. As someone who works on a lot of downtime urban open space and streetscapes in mixed use environments, I feel pretty good about it, but happy to have that dialogue if we are selected. Simison: Mayor Tammy. De Weerd: I guess that was -- were you part of the design in Caldwell of their plaza over there? Okay. I saw that in the packet. I know at one time the --the city was really looking at -- in your proposal you talk about limiting curb cut. I don't even want to see a curb. I -- I know our staff has been looking at the -- no curb and building swales or drainage into kind of a streetscape, unlike I think City Council Woman Perreault, I would love to see that street closed in that space, so that you really can create a lot of street activity and -- and that sort of thing. By removing the curbs and -- and finding other drainage systems that give you a little bit more seamless and maybe not close it completely, you can have some limited traffic through there, is that something that -- that you have worked on and have designed? Sindell: It is. Yes. And we can certainly do that here. Probably know too much, but, again, the details, but the trick with that is making sure that we are designing things adequately for the visually impaired, so when you take away curbs you just have to make sure that you have clear delineation of the roadway versus the pedestrian way when it's open to traffic. We have worked through those issues and challenges before. I come up with some pretty good solutions. So, yes, we can do that. De Weerd: Because, really, this is the shortest block area, so 2nd Street really does present opportunities to do something really creative and unique. Sindell: Absolutely. De Weerd: Okay. Sorry. I just got excited. Simison: Commissioner Basalone. Basalone: Yeah. Mr. Chair, Mr. Mayor. Yeah. Thanks for your presentation. I really appreciated the last comments from the gentleman who just sat down regarding the interrelationship of these three major projects that we have going on downtown, because my concern is that just the River Caddis project alone in that one area or the Pacific project alone in that area can't accomplish everything. There is too much limited space, as has been mentioned. There isn't enough space for green area. There is probably not enough space to have an adequate community center, retail, everything. You can't put all of that into one year area. But you can spread it out over our whole downtown by integrating it. I was impressed with your festival street, just like Mayor Tammy just Page 22 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 20 of 47 mentioned, because it did get people out and around the downtown. My big concern is that these apartment complexes don't become silos for living in terms just a place to bed down and not a place to truly live. To live they have got to get outside. People have to move around. That's why I have the concern as a member of the review committee regarding the lack of retail space that -- I had the opportunity to live for two years in an apartment complex just like this on a 5th floor where my balcony faced Disneyland and I could watch fireworks every night. It was a great place to live. But I could also walk across the street to Angelo's and Vinci's and get a great, great Italian soup dinner. I could also go down into the first floor of our apartment complex to a mini mart and buy a quart of milk if we needed it. I didn't have to run to Albertson's three blocks away. So, I think having an integrated community is important. So, that's why I'm glad that you mentioned that if people got out and walked they could find the green area. Hopefully they can find the mini mart. Hopefully they can find the restaurant to sit outside on a nice summer evening and enjoy what we have here in Idaho, which is nice clean air most of the time. Right? Thank you. Simison: Thank you. We have reached the end of that half an hour, so I would like to move on to our next project, but don't go far in case there is additional -- if we have additional time and additional questions there may be more. McGraw: Great. Thank you all. Really truly and sincerely it's been a fun process, so hopefully we can keep to it. Simison: Thank you. Next. Josh? And that will be yourself? Evarts: You are sure? Okay. Mayor, City Council, MDC, thank you guys so much for having us here today. Myself, Josh Evarts, 303 State Avenue, Old Town, Meridian. 83642. And I have got Don Slattery here from Pacific Companies to back me up with questions when we get to that point. So, I really appreciate the opportunity. When this first came around, the proposal for this space, we -- we were busy getting across the street out of the ground. Many of you are aware of the challenges that exist -- to Caddis' point that these are very very different projects. I appreciate the thoughtfulness that they brought to this, even -- even as they are traveling across country and utilizing teams here, that it is very, very difficult. These aren't large footprints, there is lots of unknown under the ground, but the opportunity to come back and revisit this and be able to provide something of value to the city is important to Caleb and I, so thank you for the opportunity to do that. What we are going to cover today is a walkthrough of the high level of the response that we made to the RFP. So, there is some key elements that we want to cover, but probably the most critical element -- and, again, I appreciate Caddis for this -- is the why of what we are doing. I think you are going to see a lot of similarities between our approach to this and what they approached in this, because there just are a lot of unknowns. This site is very, very complex. There is lots of things going on. You have other projects that are in the area that are being developed and there is just a conversation that's going to need to happen and what I would offer is that even more than picking a project today, what we are really picking is partnership. What we are really narrowing in on is what --what -- what team can we, you know, count on to go and deliver Page 23 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 21 of 47 this and, hopefully, I can make a strong case for that today. I think regardless of what developer is selected, I just trust you guys as a group. I just know all the hard work that's been put into this and that all these considerations are going to be covered. I was certainly encouraged -- I intentionally did not read their presentation, I wanted to kind of experience it today and I'm encouraged, I think you have got a couple great teams to look at. So, thank you guys for doing that. Pacific Companies, just kind of in review, this is Caleb and I. So, we are both privately owned businesses. My adventure started here in downtown with the Heritage Building. Continued with the Bank of Meridian building and, then, obviously, with the Old Town Lofts over the last three years. Caleb has been doing this much Longer than me. So, you know, when we got to a place where we needed to find that great partner for helping us develop, because if we -- if we rewind the clock here, the six years that we go back, we weren't talking about anything like this. I mean we had -- we had plans and we were -- we had lots of great slide decks to look at, but it took somebody going first, somebody had to go swing a bat, they had to knock some buildings over, including Old City Hall. They had to find, you know, prohibition era tunnels on their site and collapse those. They had to find sewer that was 38 feet deep on Idaho Avenue. They had to go do all this hard work and we called it a catalyst project and it was, indeed, that. So, we -- we do that project, we lean in, we take the risk necessary and, then, we see things like Union 93, we see the civic block project, we see all the redevelopment happening on Broadway and in other areas. We see just a bunch of really great investments that are happening in our downtown and, then, the other thing that we see is we -- we see the increased economic development. As I spend time in downtown and talk to business owners, our problem right now is -- is staffing. We have a lot of pressure on our businesses in downtown. In fact, restaurants are cutting hours, because we don't have enough people living and working in our downtown. We got to fix that. So, hopefully, in April we will start adding a bunch of workforce to the site. So, Pacific Companies. I'm not going to read a lot of this stuff. You guys have this in your presentation. But these services and divisions that exist inside of Pacific Companies exist for two reasons, so -- so, this kind of vertical integration of real estate, financing, architecture, construction, everything that sits under this is intended to deliver two things to you. One is effectiveness and that is the degree to which something is successful -- or something is successful in producing a desired result. Am I going to give you what you are expecting. So, we need to be effective in what we are delivering and having all those kind of integrated services and support items on one team is -- is part of what delivers that and I think it's very very important, especially given that this is the second time we have gone out for RFP on this, that we are looking at can we actually accomplish what we say we are going to accomplish. The second thing that we deliver with our team is efficiency. So -- and what we are looking at there is that are we using the least amount of wasted time, money and effort and are we getting competency in our performance. So, those two things of effectiveness and efficiency, that's something that Caleb and I are really passionate about. As we go through our proposal it seems very simple, but I think simple things are the things that end up getting done. Simple things are the things that end up getting executed on and that's not to marginalize anything, because Old Town Lofts was anything but simple. Maybe simple in design, less so as we get out of the ground, but those are the things that -- that are important and those are the two things that we drive to. So, as we look at this kind of vertically integrated entity, our words matter; right? So, when we talk Page 24 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 22 of 47 about words like collaboration, you know, which is partnership, it's transparency, there is a bunch of words and -- and emotions that get revoked out of these kinds of things. Innovation. I think innovation is creativity. That's great. And we can -- we can look at, you know, activating 2nd Street and things like that, but, really, the biggest part of innovation is identifying problems to begin with. So, one of the things that in our proposal as we started talking about things, we were the only group that didn't propose a community center and we will walk through the why of that, because as we have looked to identify where the real problems and gaps exist between what we offer in downtown Meridian currently, as opposed to what's in our comp plan Destination Downtown, we are going to identify those things. Soundness. Are we using good judgment. Are we proposing things that make sense, that not only we can agree on, but that as we -- as we look to the public to be a participant in this, that they are going to agree with and, then, again, that topic of efficiency and the whole reason that Pacific Companies is able to do this over 250 projects, 25 projects this year, is because that continuity that all these things kind of exist in our -- in our world and we get to leverage those up. So, a couple quick highlights. Lots of projects we do, lots of assets owned. Nearing 20,000 multi-family units. A million square feet of office, special use retail, 400 in annual revenue. Locally based, but geographically diverse. I think we have talked about this historically. Caleb and I do these projects in the state of Idaho, because this is home for us. This is our way to give back and do things that are impactful for the community we live in. We don't get to get these wrong. This project specifically rides on 3rd and my home is on 3rd Avenue. So, I don't-- I don't have an option to be bad at this, I don't have an option to do something that's off kilter, because all my neighbors that I walk dogs and hang out with on a regular basis would probably have issues with me. So, let's get to the proposal. There were two things that Caleb and I spent a lot of time talking through what was going on our approach to -- I'm painting this picture for you and we kept coming down to two items, which was can we align with the vision of -- of what the city would like to do and can we make this really, really low risk. Like how do we make this very easy. We didn't want to add a bunch of complexity to this and so that -- that was really our goal and when we talked about this aligned vision, it wasn't just MDC and the decision making committee or even City Council, it was really what we refer to a stakeholders in our downtown. So, that could be property owners, that could be businesses, that could be our residence. This is the hard edge of our downtown. The other side of 3rd is residential legacy homeowners. Those aren't going anywhere anytime soon, as much we would like to. I have heard visions of, you know, starting to, you know, buy properties and -- and renovate and expand downtown. That's not happening anytime soon and so we have to be good fiduciaries and good partners and our messaging is going to reflect that as we go and do this development that sits right across the street and, then, how can we make this a low risk proposition to ensure that we actually get it done. What we don't want to see is -- is -- I would really encourage you guys as a group, as you go out of here today, obviously, come back with questions. I'm sure Caddis is -- they have expressed an interest in answering more. Certainly Caleb and I are available anytime. We cannot run another RFP. I guess that would be my encouragement to you today is figure out a team, like lean in and go for it. Like to go through this process again I don't think you are going to net anything different. You got two great companies here that have track records and passion, so go pick one and go to work. Yeah. All right. So, let's get into it. All right. Aligned vision. I'm Page 25 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 23 of 47 going to spend a lot of time here, other than to say the -- the only item that I do want to talk about is that bottom item. So, we would go line by line through the Destination Downtown, Comprehensive Plan, and look to address all these things. So, when we talk about in-fill, when we talk about traditional architectural themes -- and I will get to the drawings that you are not looking at -- continuous urban edge, vertical and horizontal integration uses, but, really, the bottom one -- I am more convinced than ever that we have a gap in workforce housing in our downtown. This is something that we have to have. It was a big, big topic of conversation during the election. People are getting priced out of living down here in -- or living here in Meridian in general. I have two businesses and then -- and, then, two other businesses that I leased to on Idaho Avenue that their people commuting in, because there is no housing option for them and, in fact, they are making commutes -- my employees right now -- two of them live in Nampa, because they simply can't afford apartment options that exist in Meridian. So, I think, you know, we are going to lead with workforce housing, because we think it's important. We have gotten many requests based on Old Town Lofts for condomizing and being able to offer some for sale and we are certainly open to that conversation, but -- but our passion, really, is leading with workforce housing, making sure that we are -- we are preserving that -- that -- that workforce and those people that are living, working, and enjoying business in our downtown. So, as far as MDC goes, these are a little bit more specific, so I'm going to go through them. So, number one, strengthening the economic base of the area and the community and stimulating new commercial expansion. What we have found in the lease ups that we have been doing and working through for Old Town Lofts is we have a gap on professional office space. Class A office space in downtown Meridian. It is a gap. We lost Zennify to Ten Mile, because I simply didn't have enough room in a 150 year old building to staff them. I love the Keller Williams Building and we see the impact of that going live, having those people working, eating, doing stuff down here. We need more of that. So, we did lean in with a 15,000 square foot commercial space right there on 2nd and Idaho. Again, we are trying to be very protective of 3rd and we are wanting that -- that -- that element to be facing our downtown businesses, the food options and other experiential options. Second item, strengthen tax base. We are projecting a 34 million dollar improvement to this physical property and -- and, obviously, that amount, based on if there was an interest or-- or an appetite in expanding a parking footprint, could be more than this, but certainly at its base 34 million that we are proposing. Eliminating obsolete building types. We have a community building and a park that do have to be eliminated and I appreciate everybody's thoughtful considerations about just the size of this footprint. I love parks. I love the fact that I do get to be in a downtown where I can go all the way down 3rd, which is less than half a mile and be able to go to Storey Park. Thank you, Mayor. I have got green space that's up at the other end that I get to enjoy next to Cole Valley Christian. So, there is some green space, but we -- we simply just don't have enough room on this land to create green space. I do think that there are some visual things that we need to do to make sure that we are being good partners with the neighbors that are across the street, but we will get there. Modern integrated development. Unity and integrity of design. So, we decided in this proposal that we were going to invite the City of Meridian -- meaning MDC and the city -- to be a part of this design process. So, even though we lay out the foundation for the commercial office and the residential, we took the approach of there are a lot of things that are happening on this site that we Page 26 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 24 of 47 needed to actually sit down and talk to you guys about and so we will get into that a lot little bit later of what that looks like. And, then, promoting improved environment, new commercial, residential. This is something that we have been doing for a long time and we will continue to do. We are going to be very sensitive to what we see in the market, what we are seeing here in downtown and make sure that we are continuing to be a catalyst for more great developments. Low risk. Again, the biggest takeaway that we heard -- and I didn't do pros and cons slide that you guys presented us, but we got it loud and clear that this -- this item of -- of -- well, I will back it up first. The trusted experience -- we believe that we have a very thorough understanding of what's happening in downtown Meridian. We just wouldn't be able to execute on the things that we have done to date without -- without doing that. Vertically integrated. We have got an entity that's - - that's built to go do this. We are a long-term partner. I think that's important to highlight. We have been made offers to sell Old Town Lofts. We have rejected those, not because we couldn't go make money on that, but because we are in this for the long haul. It would go against everything that I am if I was to go build these things and talk about Meridian the way I do and, then, sell that at a profit. So, we are not an investment group, we are here to be partners for a long, long time with you and financial capacity, lots of projects and certainly you will see from our debt to equity that we are coming with -- with -- with all the finances needed to get this done. But getting back to --the issue of this joint design and messaging. This was the big thing that -- that I think we got knocked on in our proposal is I didn't paint a picture for you. So, this was not hubris, this was not me saying, hey, don't worry about it, It's coming. It really was wanting to enter in much of what Caddis has described, which is a conversation as to how do we -- how do we make sure that the product that we put on there meets the objectives of everything else that's going on in our downtown. I am going to continue to lean in on residential. I am going to be a big champion for not having a community center, because I don't think it's appropriate, and having commercial office space there, but I can be strong about those things and have a conversation with you guys about --from a design standpoint what that needs to look like and, again, this is our east boundary of downtown and -- and -- and I think the reason that we included something in our orals is we put some of these elevations in our oral presentation. We didn't highlight it when we originally did that, but these are some of the designs of what we have done already kind of in urban downtown. This is the Adair Building that's in downtown Boise that you probably drive and look at every time you go in on 184. But from a visual standpoint we -- we do every kind of design there is. So, just didn't get hung up on the design part. The thing that really mattered to me is did we get the product right. Much of what -- like Caddis described is are we giving something to the city that they, in fact, want. Are we doing it in a way that is -- is fiscally responsible. So, some challenges on this site. Obviously, you guys have already looked through this. I won't spend a lot of time. We have an alley. We have street parking. We have use interactions. We have two other buildings on this property that we have opportunities or sharing things, like waste refuge, parking, pedestrian egress, streetscape and, then, we have the -- the challenges that exist outside of these kind of four streets, which is residential partners. We have a project, Union 93, that's south of this. We have desires to see other projects maybe happen in this area that are -- that are on 2nd. So, we have a very very small footprint and lots of work to do and so what we proposed in this was effectively two buildings and really I would think notionally of these as two assets. We Page 27 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 25 of 47 chose a three story commercial office building, because we felt that visually that would offset the two story that exists on in COMPASS, VRT, and the Unbound Library and that we would wrap around to a four story building, which is the large Building B, which is our residential. So, that's 134,000 square feet. Four floors high. We felt that that was the appropriate height that we would recommend out of the gate. Again, we have a very very small footprint here, but the design of which we would be a three over one residential units over parking, so we could meet the objectives of the parking requirements the per city, with an additional -- I believe we are at 40 above the 124. So, there is about 164 parking spaces that we would be provided as part of that ground floor footprint. The beauty of this is that -- much like Caddis, we are very very open and interested in the conversation. One of the big topics that came out of the last election was parking. So, we -- we are seeing greater volumes of people in downtown. Big win. But having a place to park them -- I think part of the pressure we are feeling right now is because we have a lot of construction trucks in our downtown specifically during the day right now, so if you are trying to get a parking spot on Idaho Avenue it's not actually available, just because we have got all the trucks that are -- that are contractors swinging hammers and doing work on the sites. But it is a -- it is an important discussion that we are ready to have if there was an additional deck of parking that the city desired or other things, we would be able to do that for you as part of the process. So, from a scorecard -- I will just kind of go quickly, you know, are we likely to deliver a signature iconic mixed use development. The fact of the matter is we have already done it three times on Idaho Avenue. So, I think the likelihood that we would be in this case unable to deliver, it is -- is unlikely. Are we going to achieve a substantial economic benefit to the community? We are putting 33 million plus of taxable improvements in downtown. I know what the bills look like for how many laborers we have got going into Old Town Lofts right now. I have also seen the boom that's happened in some of our downtown restaurants, so that's been big. Do we have the qualifications and experience. I believe we have all those things. And -- and they have been demonstrable. So, for example, when we enter into Old Town Lofts -- Simison: I assume you are wrapping up? Evarts: Yeah. I'm wrapping up. Yeah. I'm done here. Yeah. So, just -- just to finish here, the Old Town Lofts experience the benefit and I think that the partnership that we were provide here is the fact that you guys have actually got to see -- see us in action, so as we look back at initially proposing Old Town Lofts with all the unknowns, all the things we just described earlier, to be able to deliver that and -- and in -- in a time frame, I think we are going to be right at 12 months delayed on that project, even though we have had a worldwide pandemic and all the material shortages and people shortages. So, with that all the rest of the financings structure that's in there, you guys can certainly ask questions about that, but our-- our loan to value on this effectively is at the 33 million. Fifteen million of it is out of our coffers where we would be financing 18 million. What we are asking from the city is we would be paying you about 697,000 that was -- hold on a second here. I'm clicking the wrong button -- 657,000 for the land and the TIP reimbursements of 2.3 million, which is a small percentage of what was -- it would be generating as a project and we would also throttle that, meaning that we do 75 percent of those reimbursements in Eagle right now, but we would lower that to 50 percent, so that you guys would have more Page 28 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 26 of 47 money with to pursue other projects during that time frame. So, finally, just -- oh. You guys did ask about the community center and you will probably ask about it. When we looked at this, the reason that we did not propose this is we looked at the gaps that existed as far as the Destination Downtown and the comp plan, we looked at what the current programming was in that community center, over 50 percent of it was do it yourself arts classes and we have three businesses that are on the block on Idaho Avenue that are do it yourself arts classes, so we didn't feel that was an underserved element that was happening in the downtown and we also felt that -- that we did have a gap in the Class A office space and we can't do everything. However, comma, we were asked to provide you guys a response back if you did want to do it and it's actually very simple. So, we could certainly take that first floor of that Class A office space and convert that a 5,000 square foot community center, much -- just bigger than what it is today, but newer than we could replace that with if that was something that the city desired. So, that's something you guys asked for. Simison: Josh, with that I -- Evarts: Yeah. Simison: -- want to respect this and get to questions and -- Evarts: Yeah. Simison: -- if there is other questions you can -- Evarts: Perfect. Simison: -- use your slides to answer them. Evarts: I love it. Simison: Council, Commission, questions? Cavener: Mr. Mayor? Simison: Councilman Cavener. Cavener: I will lead off. Josh, I appreciate kind of your explanation of why you omitted the community center. I guess similar question to you that I proposed to the applicant. Recognize you touched early on about living in close proximity to the grass field that's owned by Cole Valley Christian, that's not designed to be accessible to the public, so I'm just curious kind of your and your team's thoughts about why removing the --the park and kind of with -- there doesn't appear to be a plan in place to compensate or to -- to replace that for our downtown residents. Evarts: Yeah. Thank you, Councilman Cavener. No, there is just not enough dirt here. Page 29 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 27 of 47 God's not making anymore dirt and we don't have a lot of it. This site is not that big and when we think about verticality, like certainly we can go seven, eight, larger stories and create more green space or community spaces on the inside. We just have to talk about the unintended consequences of what that looks like to the residential partners and -- and how do you sell that kind of-- I -- I know all the discussions that happen even with Union 93 as you look at the eastern part of that project and I just think that you -- there is a give and take that has to be had, Luke, and I just feel like the park is just a bridge too far. Cavener: Appreciate it. Thank you. Simison: Commissioner Mueller. Mueller: Go back to the wonderful parking question, the problem -- so, on this site when you guys programmed it, you were -- you go with a one per unit 1.25, 1.5 -- Evarts: It was one. Yeah. We went with one with 40 extra being available. We were also looking at the day-night usage. So, the reality is I think there is about 164 parking spots that we programmed and part of that is dependent on the Communication in terms of how shared access and what we might do between COMPASS, VRT and the library. So, there -- there -- there is -- yeah. It's -- it's one with a -- with some additional overflow for the Class A office space. Simison: And can I assume that also concludes the commercial? You are meeting the minimum requirements of the commercial or the office? Evarts: Yes. Correct. Yeah. Yeah. With a discussion of what to do with the street; right? Because there is street parking right now. I'm very in favor of some of the things that Mayor Tammy has been talking about of how do you -- how do you deal with your curbs and how do you -- how do you be creative about that and create more walkable experiential space. So, there is just a lot of that and it's very strange, if you look at the site, it's kind of all over the place between parallel and angled and -- yeah. Simison: Mayor Tammy? De Weerd: Mr. Mayor, I guess it's -- it's hard, Josh, to ask any questions because we didn't see enough detail -- Evarts- Sure. De Weerd: -- to get there. I did love the location of your retail. It really does pull the downtown the other side of that street, which is important. I appreciated your commitment to workforce housing and I hope that Director Siddoway heard your comment about the art classes. I do think that as we start to evolve in downtown the city should not be in competition to the businesses that are in the surrounding area, so you raised a very good point. Evarts: And I'm not trying to -- and, Steve, I apologize. I am not trying to pick on Parks. Page 30 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 28 of 47 There is no bigger fan of parks in our city than me. It is a very complex issue and so I will be the bad guy, but even when we worked with the Chamber of Commerce for doing this big big Oktoberfest event in October, parks was the one that pushed back on the timing and the road closures, because they had dozens of people that -- that they were uncomfortable having those people park outside of the parking boundaries to walk in to the detriment of thousands of people that we were going to be bringing in on one day to grow economic development and I just think that's the challenge when you get these kind of elements sitting in your downtown that there is unintended things that happen and I think we just need to tread carefully. De Weerd: Well, the city needs to be a partner to --to the downtown business community and it goes both ways. Evarts: Yes. I agree. De Weerd: So, they need to be talking to -- Evarts: Hundred percent. De Weerd: -- the departments as well. Evarts: Yeah. De Weerd: But I -- I do have a couple of other things that he brought up that probably are not best suited to this discussion, but for discussion afterwards. Simison: Okay. Additional questions? Commissioner Bevan. Bevan: Mr. Mayor. So, I do appreciate you addressing the community center. Having owned an event center in my past professional life, I do understand the pros and cons of having that availability space and I think that the immediate allure of anything being called community, right, has that appeal. But certainly taking that opportunity to see how well it does pencil. Does it compete with other businesses in downtown I think is a very valid point. I think that, you know, thinking about the community space that's available at -- to the Meridian library that's just down the street, you know, there are other spaces, you know, within a very close distance that things like art classes can be held and so I appreciate -- I appreciate you addressing that. I also really appreciate talking about the -- the living space, workforce, you know, housing. Certainly is a very -- a very big need, not just in Meridian, but the entire Treasure Valley. So, I appreciate that. I don't have any further questions. I just wanted to point that out. Thank you. Perreault: Mr. Mayor? Simison: Council Woman Perreault. Perreault: Thank you for your presentation, Josh. I'm curious how you got to the ratio of Page 31 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 29 of 47 the commercial versus the residential? How you came to -- to the size at about 15,000 square feet of office space is what is desired in this area versus the amount of residential that -- that you are proposing. Can you give us some idea? Evarts: Yeah. It was simple math. It was just -- we had a 5,000 foot footprint and we felt like three stories would be appropriate given the profiles of the buildings around it. So, it was just simply three times five was 15,000 and that made sense. As far as the residential, we maximized the footprint. We spread it out. We tried to take every inch and build to the lot lines, because we -- we don't have anymore extra dirt laying around and felt like four stories was appropriate, you know, especially as we get to look at Old Town Lofts, that's a very big structure, you know, in our downtown and -- and it has no residential round it. I think when you put that size of a structure and you put it across the street where balconies are looking into people's yards and kitchens, it gets to be a much different conversation. We felt four floors was appropriate. I think if you are -- I think you can make a strong case for -- if you want to go three over two and do two parking decks and offer another 160 spaces for our -- what would work out to be 115 parking spaces for public use. You could go five stories, but, again, I -- I just am pretty sensitive to how this is going to be perceived from a -- from a public standpoint. De Weerd: Mr. Mayor? Simison: I think Commissioner Basalone had a question or comment. Basalone: I just wanted to clarify something very quickly. You know, we keep talking about community center being for art classes, which it has been, but when a community center was first proposed, as I recall, from our discussions from years ago, we were concerned about performing arts. We were concerned about having the Treasure Valley Children's Theatre being -- having performances downtown in a community center. We were concerned about the Meridian Symphony not performing there -- in -- at Centennial High School in Boise, but rather in Meridian at a location. So, I think that -- that -- I think you are right, Josh, in terms of the space availability and what you can do, but the reason for a community center was for performances, it wasn't for art classes necessarily, although you could certainly hold them there. So, I think the real concern I have for the city -- county and for the city and for MDC is what amenities do we want in addition to these projects? Do we want an auditorium district where we could have performance downtown? Do we want a parking structure that's dedicated to public parking? I mentioned that I lived in an apartment complex in downtown Fullerton. We had two levels of parking for this five story apartment complex. The bottom floor, the subterranean floor, was for the residents and it was gated off, because I don't think you can share parking between people who are paying and not paying for the same spaces. The ground level was for the public parking. So, you can do that. But right across the street from this parking --from this complex was a public parking structure that was used by an auditorium across the street, was used by people who were eating downtown and so forth. So, think that in terms of the city as a whole, we need to, once again, look at integrated facilities. What do we need? And I don't think we can rely on a project like this to accommodate every need in the city. Page 32 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 30 of 47 Evarts: Agreed. Simison: Thank you. Mayor Tammy. De Weerd: Josh, I did have one question as you were talking and putting 120 plus apartments over there next to retail and -- Evarts: No retail. Class A office space. De Weerd: I mean -- Evarts: Yeah. De Weerd: Sorry. Commercial. Evarts: Big difference. De Weerd: Going back to Councilman Cavener's question about the open space, that is an amenity and usually when we do apartment -- or when City Council considers apartments, amenities are a part of that. Evarts: Yeah. De Weerd: So, what kind of amenities are you anticipating that you would offer to the residents of-- of your apartment complex? Evarts: Yeah. Great question. So, very similar to what's happening at Old Town Lofts right now. So, I don't know how deep you guys have dove into some of the elements that are over there. It's probably not easy for you guys to get access to, but every floor in that project has got communal spaces. Everything from dog washing stations, things that -- we kind of criticized for, Caleb did, when they did the urban renewal project in Eagle, that people were like why are you putting dog washing stations and movie rooms and stuff like that on the floors. The -- the nature of that building, just the shape of it, lent to a lot of those spaces on each floor. So, there is quite a bit of that. We actually put a full bike room that's over there, because we are encouraging people to take advantage of what is most of the year great weather. So, there is an indoor lockable biking area that's over there and -- and, again, just in this whole relationship building with downtown, Meridian Cycle is going to be a part of the branding of that to make sure that we are, again, promoting downtown businesses in our projects and in trying to encourage, you know, economic development, not just for us, but kind of across the board. I think when the ocean rises all boats should float. So, those are the things that are happening there. One of the things we did look at Old Town Lofts, it just didn't pencil, but it would be certainly something worth looking at, that Pacific Companies has done, is -- is roof space and being able to do some amenity space there, given the small footprint. So, I think that would certainly be something that would be willing to be discussed. I think the challenges -- Page 33 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 31 of 47 and, again, the -- our other team here mentioned it, is, you know, when you are -- it's very very difficult to pencil these projects and we are in this period of like unrestrained prosperity that's fueled by debt. It has to end at some point. And so when it does end we need to be cognizant of the fact that having big, big dollar amenities, condominiums, things of that nature, we -- we might not be in an economic place where -- where that's -- that is really great. But we always know we are going to have a workforce and we always know we are going to have people that are laboring and so I just think that from a strategic standpoint making sure that we are addressing that and leaning there, we deliver that. Hoaglun: Mr. Mayor? Simison: Councilman Hoaglun. Hoaglun: Josh, I have heard both -- both from you and River Caddis talk about the difficulties of this project -- Evarts: Yeah. Hoaglun: -- and, you know, the Old Town Lofts, etcetera, and -- and as I -- kind of mulling this over and the difficulty and the dynamics of the marketplace currently and supply chains and finding workers and all these good things, none of you -- neither one of you put in the RFP the first time around and -- for various reasons, but -- Evarts: Yeah. Hoaglun: -- it was not -- it was not done and now we are here and -- and so I started thinking, huh, you know, in my mind as I'm listening to this, after hearing their discussion, but then -- then you kind of switched to -- but go -- so, I'm thinking, you know, is this the right time? Is this -- is this project ready to be baked right now or do other things have to happen in downtown before this one's ready. But, then, you had said well -- and I think you just need to pick somebody, move forward, and get -- get something together and see if something can happen. Evarts: Yeah. Hoaglun: So, just-- I don't have to ask you to shoot straight with me, because, you know, that's just -- Evarts: No. No. No. I -- I'm incapable of being anything but transparent. Hoaglun: Is this -- and I wouldn't mind if River Caddis added their -- their two cents on this, too, is are we too early for this yet for this particular site? I mean we got Unit 93 breaking ground or is it always going to be a difficult project no matter where we are in the time frame and evolution of downtown? Evarts: Yeah. So, let me answer that. I don't think this site is suited for anything much Page 34 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 32 of 47 more innovative than what Caddis and I are both producing. I love what they have designed. I think that there is -- I could certainly put together, you know, a proposal that would have a gap and -- and do something bigger. We wanted to propose something that could get done, that we knew the dollars and when we tell you this is what we are going to deliver, we just do it. I don't think this piece of dirt in particular lends itself to some of the gaps that Mr. Basalone's talking about, you know, being able to do a performing arts center. I just think that -- that where it's located and kind of where it's seated I don't know that that's the right piece of dirt for doing something like that. So, I don't think it's too early and I think we have -- we are always going to be an equity and political refugee location in this country. That's why we are seeing these great in flows of people and businesses are taking advantage of it, because we are getting all this great workforce that wants to live here and, then, brings their talent here and -- and we want those people here and it's creating pressure. The houses are getting gobbled up, that's great, and even though housing prices are going up, the problem is all the laborers, all the people that are -- that are working in our community that maybe aren't making those six figure jobs, they are getting pushed out of their ability to buy a home and we need --we need that living space. So, I would argue that it's a natural location to do -- to do a project, either what Caddis has proposed or what we are proposing, it's the right time to do that. Yeah. You are welcome. Simison: Any additional questions? Evarts: I'm going to close with this. I really don't envy the decision process that you guys have to go through, but I really do appreciate all of you and what I will say is whether we are chosen or not, like Caleb and I's investment, like you are kind of stuck with us, you know, the work that we do here currently. Certainly we are going to finish the building and we are going to continue to be great partners in the city and I just appreciate an opportunity to put this into you guys. So, thank you. And thank you to Caddis for coming all the way from Michigan. I think that's wicked cool, not just because they went to my cigar lounge. All right. To peace out. Simison: All right. Yes. Just an AmberAlert, as we have all seen. So, with that, Cameron, any comments that you would like to make before we go to the next phase? Arial: Mr. Mayor, Members of Council and the MDC Board, it's -- you have before you the two presentations. Now the time is yours to deliberate and you have the three potential options for action moving forward and, again, as a staff we stand ready to support that decision whatever it may be and helping you and the city succeed in this. So, looking forward to your -- your feedback. Simison: Okay. De Weerd: Mr. Mayor? Simison: Madam Mayor. De Weerd: I guess I have a couple of questions for staff. That -- that maybe can help as Page 35 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 33 of 47 we look at the recommendation to move forward, what we can build into some of that. We have had a couple of projects currently underway, as Josh -- Josh has mentioned and one that's been completed. What have we learned during those current projects that might lend to helping either of these two projects being considered as they move forward, but also to know what to build into some of the recommendations as we move forward with the project? That would be one question. Second question would be looking at the current parking scenario, once we build out the two projects that are currently underway, one further than the other whatever the parking needs coming into having this project move forward, are we meeting the parking needs? Is this going to have to help look at that? Can we do a one to one scenario? I guess that would be a second question. The third question is maybe to City Council, I am concerned having the community center as part of this, because alls I could see in what I was able to read was money that is -- are the current impact fee and no additional dollars to pay for parking and the things that really make this project a challenge. If you include the community center it provides a gap and it's going to be a hard gap to really fill when you are anticipating or counting on TIF dollars and you have a city project over there that doesn't generate any TIF money. So, is the City Council at this point looking at putting additional money into it and is that -- or is that going to just be an additional conversation to have with whatever project we choose to move forward. But I think those are three key questions that I'm curious to be answered. Arial: Mr. Mayor and Commissioner De Weerd, so to the first two you had asked, you know, things that we have learned from current developments and things going on in downtown. Somewhat anecdotal, but certainly, you know, proof in the pudding, we as a city, certainly in partnership with MDC, our business community, we have got a cool thing going. Projects are getting done, things are being moved and at scale that I think is pretty -- pretty incredible, given the -- the opportunity before us. So, it is a -- we are learning a ton, I think it's safe to say. We have got great partners with everyone that's -- that's showing up and investing in our downtown. We have got a great business community. But I think probably an underpinning to your question is -- is, you know, the -- the potential fragility of that, the sustainability of that, how do we -- how do we be good stewards of that momentum that we are seeing and that's something that we are abundantly aware of, you know, how do we make sure we are designing things properly? Parking it properly, to your second question, you know, and -- and -- and really taking into account the current businesses and the -- and the residents that -- that reside here in downtown. So, I think we -- we have a great pulse on it. We have a great partnership with the business community residents and the development that's going on and, certainly, we are lockstep with our partners at MDC, which I think is -- is critical to the continuing of the momentum. But those are some things that I think we could absolutely parlay forward into this project and into future projects and certainly open to any comments that -- that others may have on that. To the parking question and parking need, this was, obviously, a big consideration in the RFP itself. So, you know, I think that was a factor you saw in the scoring with where parking was a major factor and where the committee ranked parking in that -- in their decision making. I do think even given our most recent downtown -- state of downtown forum that we did in partnership with the Chamber, this was an issue and we, as a city and, again, in partnership with MDC, we have done and will continue to do parking Page 36 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 34 of 47 assessments of our downtown. What is the available parking? What is the status of it? Those studies have shown, at least in the current state, we are not in a crisis scenario, but given that, we know that when you bring density, when you bring vitality, parking is an essential element to continuing that and so this is an opportunity to address some of that, certainly with the uses that are being proposed. So, we do want to be very sensitive to that and certainly we will be going forward. Hopefully that at least addresses your question, but certainly those are top of mind for--for staff and I know it's been a discussion of -- of both bodies. So, appreciate the questions. As far as the community center, that is something that we -- we appreciated with both presenters and don't want to speak too much for others, but just the -- the -- the openness and -- and being forthright with what that gap is, you know, that took the form in one of the proposals where they just simply didn't bring -- include the community center in their proposal. The other was is they identified, if you want that here is what it's going to cost you. So, I think that, again, in my view and you as decision makers, you see now clearly what the cost of those things are and now are at a decision point on what you would like to do with them. So, hopefully, that--that at least gives you some clarity on your--your points, Commissioner De Weerd, but maybe open it to others of staff if you had further comments. De Weerd: Yeah. And, Mr. Mayor, just to follow up and I appreciate that. From the MDCs perspective, we have to look at the TIF dollars and when you take out a chunk of that block and I think that both the presentations kind of have identified that concern, is we will not be getting TIF dollars off that community center and even if the city were to put money up to help close the gap, longer term, you know, that -- that lack of generating the TIF compounds and -- and so I just wondered what conversations the city has had to be a solution to -- to that. Simison: I'm happy to answer part of that question, but I can't speak for Council and alone, I have thought to at least have it be part of the RFP to see what people could propose, see if there could be something innovative that could be part of this that would make sense through their project. I think ultimately what I saw is it created more challenges than solutions and I think that from my perspective I think the city has a better option to relocate the community center to another location and address the parking for it and for City Hall. That's not part of this project. That's my viewpoint, so I would not be looking to the city to fill the -- fill the gap in this project, because I think we need -- we have a better opportunity to succeed in other ways to fill those gaps for our own needs and meet the needs of both facilities. That's my opinion. But I assume Council Woman Perreault also has comments. Perreault: As the Parks and Recreation liaison for the Council, I have had many conversations with the parks director about this -- this entire year and agreeing with the Mayor, we wanted to see what proposals we might get and see if the -- the private sector could be creative in a way that -- that maybe we hadn't anticipated, but I agree, I don't think that this is a location for the community center -- for one, we have been waiting on a study that--that will be out in the spring on what our community wants from a community center and until we have that information from that survey I didn't feel comfortable proposing that we include this. I don't think the timing is right just yet for us to determine Page 37 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 35 of 47 exactly what size of community center that we need, what the uses will be. We are just not there yet from the information we are going to receive from the public and I just don't think the timing worked out in that regard as well. But I agree that this space is -- is too small to try to include, you know, such a significant amount of uses, but there has been a lot of conversation, a lot of concern about what happens when our current community center comes down as part of this project and the time that it's going to take to rebuild that community center, what the cost is going to look like. As you saw, the -- the funds that we have currently will not come close to meeting what we will need for a community center and so the determination hasn't been made as you asked this Council what will Council do to contribute additional funds beyond what we currently have and none of those decisions have been made, of course, because we don't have a set idea of what that community center is supposed to do and what the purpose is yet and so for me as the parks liaison, I was not in favor of including -- I didn't have an issue with putting it in the RFR but I'm not in favor of including in that location, because of all those various factors that haven't been determined yet. De Weerd: Mr. Mayor, I guess just one final comment on -- on that is, you know, the community center, although it's -- it -- we do have an existing one, there is an expectation for the General Fund to match impact fee dollars and -- and so whether you put it in -- in this location or another location -- and I think that's important for the applicants to hear this conversation, because it's probably one of those questions that has -- that has been a cause to that big gap. So, anyway, I -- I appreciate the conversation and -- and you have more discussions to have, but I think, too, it's important to hear -- have MDC hear some of that conversation as -- as we want to make sure that the TIF dollars can -- we can be a strong partner with those TIF dollars and we want to make sure that we can generate what we commit to. Simison: And my two cents will be as much as you can generate towards public parking beyond for other needs in downtown, I think that would be the best way to utilize those TIF dollars, along with the other needs. Two cents. Mueller: I have got a couple questions, mostly for our economic -- so, I'm curious. I have an actual -- my own dilemma in my head with these projects. We have only a couple blocks of true downtown to work with to go very high vertically. I know the neighborhood pretty well. So, on one hand we have got--across the street from this development single level old housing, you know, averaging anywhere from 500 square feet to 1,100 square foot homes. So, on one level it does make me nervous to see a building as tall as like eight stories directly across the street from that, but on the other side, we only -- we have so little space in our little downtown to actually go vertically it seems really important to make the most of it when we can. So, I am curious with -- with zoning and when we look at the available --we are running out of space. You, as an economic development person for downtown, how do you look at this when you are seeing these developments going? Does eight stories scare you or is it like this is the best use of vertical space? Arial: Mr. Mayor and Commissioner Mueller, it's a --that's a fantastic question. You know, it's -- it's -- it's -- it's a rub between who you are and your current status and who you want Page 38 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 36 of 47 to be or who you could be, I guess, is the way I would couch that. Really ultimately that's going to fall down to, you know, the decision making. What is our vision for downtown? What does it -- what does it entail? I personally sincerely hope that includes redevelopment. It needs vitalization. It needs, you know-- I credit Josh's presentation to -- to the workforce. We -- if we want vitalization and reinvigoration into our downtown, we need people here. We need businesses here and people to support those businesses, both as workers and as patrons. To your point about kind of just the verticality, it's here. We know it is. We have got Union 93, two towers at seven stories. A proposal potentially at the corner of Main and Broadway of more. Eight stories I think, you know, we are right there. So, that -- that reality is upon us. I think if we are struggling with that, I think that's natural; right? We are moving -- we are transitioning and, quite frankly, we are seeing a vision through. It's not going to be without its challenges. It's not going to be without its conversation and certainly it's not going to be without its trepidation, but I think that's something that our community in particular, Meridian, is up to and -- and has been and will continue to be and I think it's one of those where we as a group collectively come to better solutions. So, it's the -- you are asking the right question and I think we are the right group to keep it -- keep it on track in a way that will ultimately benefit our community. Mueller: I appreciate that. I think it's good for everyone to remember an eight story building is already proposed on -- basically on Main Street. Can I ask one follow-up question. This is the obvious elephant in the room that we are still not fully addressing. As long as we have a one parking stall per resident rule in the city, we are steamrolling head fast towards a parking disaster. We kind of all know this, which means we need to receive proposals from people that have this type of gap, you know, ten to 14 million dollar gaps that are mostly funded -- the funding issue is always parking. So, the -- the -- the thing that I see on these two proposals is I see one that's downsized that's kind of like it will fit in to what we have currently going on. It doesn't solve -- it doesn't push our parking problem any farther forward and, then, I see this one, I do think at some point --Ashley, I don't know if you can possibly do the work right now, but when we look at the amount of time that we have left on the TIF and the proposals of dollars that these developments will raise, you can't get to there. I don't know how far we can get, but we can't get to there. So, there is a gap to the gap. So, I think what is very important in making this decision is you have to decide is this the time and is this the development where we are going to make a push to solve some of this problem or are we going to punt on it? I think that's pretty paramount and for us to decide that we are going to solve it it is going to have to be a partnership between MDC for sure for TIF funds and I -- even with it--with it being a gap too far, probably with the developer and probably also with the city. So, without knowing that every buddy's party to work on that, it seems hard to make this decision. Anybody want to weigh in on that? Arial: Mr. Mayor -- Simison: You want to take it? Okay. Go ahead. Arial: Just one quick comment. Sure. Why not. Commissioner Mueller, great questions. I think your-- your question about the TIF -- and I can certainly defer to Ashley as well on Page 39 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 37 of 47 this, but this -- this particular proposal is in the new Union District, so newly formed and, therefore, you have -- and I'm trying to get to the -- the presentation, but, essentially, you have new life in that, so you get the full -- full benefit of the term of that. Again, in my opening presentation you saw kind of the evaluation of what these proposals -- two proposals would generate in TIF. The one would be sufficient to fund at least the majority of the known projects. The other was a couple million shy. So, hopefully, that helps address that question. Simison: And I think this goes back to the question that you were asking that were the same questions I was looking at, especially with River Caddis. If you pull out the community center and you pull out the parking for that, that number gets driven down immensely. I didn't ask them the question, it's like, well, what if you just replaced that with now typical -- that may or may not be what they do, you know, they could just downsize the project and not include a community center and not have more parking, but at least the TIF doesn't change. But if you throw a hotel in there what does that do now from that standpoint. So, there are questions, absolutely, but, you know, you got to the heart of the conversation and I think by us saying that the community center is not part of it, it changes those numbers dramatically if that's the direction and I don't know if -- honestly, if -- if a decision can be -- can or should be made tonight without looking at different numbers without those pulled out. You know, we don't have the full secret sauce on those numbers if that's a conversation with River Caddis that we want to have or not. And, Ashley, were you looking to say something as well? Squyres: Thank you, Mr. Mayor and Members of the Council and the Commission. You know, the one thing I just want to remind everybody is the Union District was established in 2020. We only have a lifecycle of 20 years, so we are burning daylight already. I can't -- for whatever reason I can't pull up the original financial feasibility study for the district at this time, but we anticipated Union 93 already moving forward with their project and creating TIF in this next year. The valuation change between 2020 to 2021 is a hundred dollars. So, we are not going to accrue any TIF this next fiscal year. So, we are now 18 years -- or, excuse me, we have 18 years left. It takes about 18 to 24 months to start accruing that TIF, so we don't have a lot of time left already and so that's just something I want this Council and this body to be mindful of in making a decision, is that the clock is ticking very very fast. Costs are going up very very fast and if we want the chance to be able to help fund some of these public improvements fully we have to act now. We can't -- we can't delay this decision. Hoaglun: Mr. Mayor? Simison: Councilman Hoaglun. Hoaglun: To that point, Ashley, not to delay the decision, I am interested in what River Caddis proposal would look like without a community center and -- and trying to compare a little bit more apples to apples I guess, but is that a type of delay or you are talking about putting off to another RFP type of delay? Squyres: Mr. Mayor, Council Member Hoaglun, I think we -- we need to make a decision Page 40 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 38 of 47 within the next couple of months I guess is where I'm going with that, rather than going out to RFP, rather than delaying a decision in order to understand what the needs assessment is going to be for this community center and -- and just kind of, you know -- you know, staying on that conversation for the next several months. I think this is something that we need to act as quickly as we possibly can, because we do know that the next steps of the negotiation, the development agreement, the OPA or a participation agreement, that's going to take some time and just to give perspective, we spent 14 months with Galena on the original RFP for this site, so -- and we were back here and it took that amount of time to figure out we weren't going to be able to get to where we needed it to be with the project. So, again, time is just really precious. Hoaglun: Okay. Thank you. And, then, Mr. Mayor, just to follow up. I'm of the mind, too, for a community center I think we need further discussions on what that looks like. Are we going to do -- to Commissioner Basalone's comments earlier, you know, do we have an auditorium facility and, then, we have a spoke -- you know, a hub and spoke type of system for the city and -- and those types of things, to have it in that space right now I don't think is critical. We can -- we can do something else and I think parking is more of a priority for downtown than -- than the community center right now. So, I don't know if that helps or hinders the time frame, but I am interested is, okay, what does that look like for River Caddis if they don't have the community center and to your point is it retail, is it commercial, is it just parking, is it more units, that sort of thing and what does that look like and where do the numbers land on something like that? I think with Pacific Company and those types of things, it -- it's there, it's ready to roll and you have got good -- good numbers I think, a good feel for it, but those are the decisions, four stories, eight stories, you know, those have a great impact on our -- our community 20, 30, 40 years down the road. So, something we have to consider. Simison: Commissioner Basalone. Basalone: I will try to be real quick, instead of being as verbose as I tend to be. I think that we do have to make a decision. I agree with what Josh said and I believe the gentleman from River Caddis has mentioned this also. We have two good proposals here. I don't believe in going back to square one, new RFPs, all of that. We have two good proposals. We have two issues. We have been trying to put square pegs into round holes in a number of areas. The community center. I love the comment about community input for what a community center should be. It might be a standalone community center. But it isn't something where we try to force a smaller community center into, essentially, a private project and take away tax money that could be going for other public good if it's been earned. So, I think we have the public parking issue and we have the public community center issue as separate issues. But these two projects, in my estimation, are great projects. Both of them talked about collaboration, wanting input from us, from the community and so forth. So, there is room with either one of them to do some negotiating, as Councilman Hoaglun said. Could retail go in in place of the community center in the River Caddis project? Certainly it could. That could be negotiated in some way. Could additional parking be put in in some way? That could be negotiated. We have two potential partners who want to collaborate with us. I think we should take advantage of Page 41 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 39 of 47 them, make a decision after due deliberation and move forward. But let's not move backwards. De Weerd: Mr. Mayor? Simison: Madam Mayor. De Weerd: Do we want to ask either of these applicants a question? Simison: If you have a question. De Weerd: I guess in both the presentations there was flexibility to respond to what the community needs were. If the community center is -- is not an amenity or a piece that either the Council or MDC is -- is looking towards and helps address the gap in our first project and certainly if they fill it with commercial -- and you mentioned a boutique hotel or -- or other options, that's -- that's certainly going to add to closing the gap and I did appreciate they had more than -- more than the -- they were looking at more parking than what was required and I agree with the conversation that we have to look at parking requirements in our downtown, unless the city wants to be part of that -- that solution, as well as MDC. But I do think it comes down to which project theme do we want to move forward with and who had even specificity that it gives us detail on what the creative solutions and creative elements to a proposal would be. Perreault: Mr. Mayor? Simison: Council Woman Perreault. Perreault: If -- if permitted, I would like to hear from -- from both on why there weren't other uses considered. Perhaps retail uses. The -- Caddis didn't include any -- any other uses besides the community center and -- and residential. I just want to understand if there were considerations made for other uses, what they were and why they weren't included. Simison: Gentlemen? Yeah. Evarts: All right. So -- so, we did -- we did propose office space. So, office space residential, but not community center and we intentionally avoided retail, because we felt like being on that edge of that residential part of the -- part of the neighborhood that, you know, I was asking myself how would I feel if I was trying to court different kinds of night activity stuff that's going to be happening, again, across from my kitchen and we felt that based on the inquiries that we were getting for Old Town Lofts is we are getting the right amount of inquiries and the right product mix for retail that's going to go into that space, but what we absolutely do not have is commercial office space. McGraw: You are taller. So, John McGraw, River Caddis. Thanks. So, the -- the approach that we took was we were given a set of parameters and within our team we Page 42 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 40 of 47 decided to include this community center as doing so and we did that because we saw another path in getting more parking. That was a way that we could point to an additional however many spots and the community center could be -- I don't know what the community center is made of; right? I don't know what it wants to be now, what it wants to be later. I don't know if it wants to be a business incubator. I don't know if it wants to be a -- an amenity to the public. So, I'm really unsure. But we were given a set of parameters and we tried to achieve that. We showed that there was a gap, but we still have a lot to solve. So, can we put in retail? You know, we have approached different folks for hospitality, for restaurants, you know, we can approach that with -- with everybody. We don't know today, but that's -- it's, obviously, open for discussion, so -- Perreault: Mr. Mayor? Simison: Council Woman Perreault. Perreault: I want to clarify the reason I asked that question. In the RFP it says that -- number -- letter C, preferred project should feature a mixed use development with active street level uses that will bring visitors to the area, service downtown residents and workers, and contribute to the vitality of downtown. So, I don't see residential doing that. I see community center doing that, but I -- if I'm reading things well, that's probably likely something we are -- we are not going to consider keeping in. So, I just wanted to understand what your perspective was of that -- of letter C, what that mixed use development with active level uses looks like and curious if you did have any questions with the staff about what those elements might -- might be. So, this -- this RFP was a little general in that regard and so I just want to, you know, make sure I understood that -- that -- that there was -- you know, just wanted -- just wanted to see what your interpretation of that statement was. Evarts: Yeah. Council Member Perreault, just in the -- in the consideration of time, because you guys are -- are limited. I'm not trying to avoid the question. I think we could spend hours, perhaps days, nugging through the details of what's -- of what's going on here. I think that -- I think that the lack of the clarity that existed and I think the -- even though it was well intended, I think including that community center element created a certain amount of pain. I think the -- the issue in terms of activation -- certainly the way we were looking to address it was simply -- was work -- people that were living and working in downtown Meridian and, then, activating that hard corner that was painted -- or that was pointing on 2nd and Idaho, because I do believe that all the activity is going to be pushed to 2nd Avenue. Like Broadway is done, because it's the access point for all the big developments and so 2nd Avenue will be activated, so that's why the office building with bigger frontage and drawing people, that was -- that was the direction we went with in terms of pushing people, so -- McGraw: You were correct in why we didn't -- you know, why we put in the community center as that frontage. That community center across the nation, community foundation, whatever that may be, is done to activate space. That's why we have big windows. We thought that's where people work, that's where people play, that's where people learn, Page 43 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 41 of 47 that's where people grow. Activation was part of the project. I was looking at this as we are adding 20,000 square feet of commercial. I mean that's how we -- as designers, as collaborators, that's how we were looking at this. We were -- we were assuming that this community center was more of an amenity and that that's what was wanted, but, again, choosing the group that can help provide the structure, this -- this deal, this development is -- is probably the most important part. Just figuring out the right team, so -- Simison: Councilman Bernt. Bernt: Mr. Mayor, I just want to say thank you to these two companies you know, these two individuals for their presentations today. They -- I think that you both -- both companies did a great job in casting a vision for what you feel our downtown needs to look like and, honestly, at the end of the day I think that's what it boils down to me is what -- what -- what vision are we looking at, because if I'm hearing you both correctly, you are both willing to negotiate, you are both willing to come to the table, you are both willing to participate in the design aspect, you are both extremely interested in collaboration. So, in my opinion that's a tie. I think -- I think there is no doubt that either one of you would be big supporters with that process going forward. For me it's a matter of which individual casts a bigger net and bigger vision for our downtown going forward and it's no joke that I have never been in favor of a community center in that project. I have said it before and I will say it again, I have never liked it for the -- for the same reasons that were specified earlier. I -- I think that if there is one thing that this downtown corridor needs the most it's bodies. It's -- it's bodies coming downtown to live, work, and spend money and -- and in order for people to spend money in our downtown corridor we need people living down here and we need people working down here and that's just that simple and so in my opinion there was one company that did a better job casting that net and -- and -- and provided the vision that I'm looking forward for downtown and that is residential and office space. I'm okay to make a decision tonight. I think it's crystal clear in my view who I support going forward. I would invite other Council Members and other Commissioners to see if they share that same clarity or that same opinion. If not, then, we need to probably continue this discussion. Perreault: Mr. Mayor? Simison: Council Woman Perreault. Perreault: I don't yet have the clarity I would like to have to make that decision this evening. Simison: While I don't have a vote, I would agree in that context that, you know, personally if I was plotting their path forward I would give them both two weeks to reply to the information and the changes that they have heard today and give that back to the group and we either set a joint meeting or individual meetings to have conversations and make said motions. I assume that they are done separately and not together by each board it has the approvals -- we are going to all vote and if MDC goes one way and the city goes another in the same vote, that--you will have to excuse me, it's my first time going through Page 44 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 42 of 47 a joint meeting dual RFP process for a solution. Arial: Mr. Mayor, previous precedence would be that it would be a combined vote. Simison: A combined vote? Okay. That is -- I have learned. Cavener: Mr. Mayor? Simison: Do I get to vote in this one, too? Am I still without vote? De Weerd: You are without. Simison: Oh. Yeah. Councilman Cavener. Cavener: Thank you, Mr. Mayor. I think I'm supportive of your idea of giving both respondents a couple of weeks to process the information they have heard today and so I think it's important at least for MDC Commissioners and City Council Members to make sure that they are candid with their feedback and I think it's important at least to share my perspective of that. When this whole concept was first presented to the Council it was a what if scenario. What if something that's kind of a catalyst project could be launched in this area replacing our existing community center, replacing our park, and I think that the feedback from the Council was that we are intrigued to learn more. But I know that many Council Members were very hesitant about giving up our community center and for me particularly giving up that little bit of park space in downtown that whatever would come forth would have to be pretty spectacular for me to be supportive of losing either of those in downtown Meridian. Now, I know since then there has been other conversations about potential locations for parks and potential locations for community centers and I'm open to those conversations, but I'm not one that would be supportive of moving forward with either proposal in a transfer of land until we have those questions answered about what is going to happen to the park space in downtown Meridian and what is the vision for a community center for Meridian residents. So, I like both. I think both projects bring forth a particular merit. It's apples and oranges. Just kind of depends on which one you would want to pick. I think both could be really beneficial for downtown Meridian. But it's going to be really challenging for me to be supportive of either moving forward long term until those other questions are answered. Simison: Councilman Hoaglun. Hoaglun: Mr. Mayor. I have had some discussions with our parks director about what are the options and -- and I think it's incumbent upon the city, if we utilize this parkland for this -- one of these projects, it's incumbent upon us to find that replacement property and figure that out. I mean that's -- it's a city park and we have a priority of redeveloping downtown, along with MDC as their priority and to do that we are going to need that space, so we are going to have to figure that out and I think that's on us. I don't know if others feel that way on the Council or you, Mayor, but to me we have to -- we have to move forward with something if we want to replace that. Page 45 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 43 of 47 De Weerd: Mr. Mayor? Simison: Mayor Tammy. De Weerd: I guess I was intrigued with the first proposal by saying, you know, they -- they were not totally opposed to the conversation of maybe looking at replacement property for the park. So, they did bring that up. In response to -- urban parks are going to look different than rural parks or suburban parks. You won't have the open space, but you are going to have the plaza space. I do appreciate the first project and -- and the detail that they offered with the live walls and the street trees and -- and festival street. So, there -- there was attempts at -- at creating more of the urban space, the urban public space that I thought was very creative and innovative. On the second project it didn't give us very many specifics, but there was nothing that it showed how that urban open space or public space would exist and maybe it was something that, then, was further defined in deliberations, but if we are looking at what we asked in the RFP and how it addressed, we are changing or moving the teeth by saying we are taking out the community center, which is a destination. If we wanted to really look at what project is going to draw people to it, it would be that community center in all fairness, rather than the -- the Class A office space that are going to bring the same people there every time. So, we do have elements that we could make a decision and say these are the -- the aspects that we need from the team that we choose to move forward to do if we really do want to move forward, because we need more specifics or right now we can identify what do we want each team to bring back. Do we want them to address what is that public -- public amenity, whether it's an urban design for public gatherings, a draw to our downtown. If it's replacing the open space that we would lose from Centennial Park and the community center as a whole, how can we replace that at maybe a different location. We have got to address the parking aspect and what -- what the community elements are going to be and what the amenities are going to be for the apartments or the residential that would be in downtown. I guess if you don't want to pick a team, those would be the elements I think that need to be at least fundamentally what we need to hear back from both projects if we don't want to make a decision today. Simison: Just my two cents. I think if they want to and if they choose not to, well, that also speaks to the viewpoint on if they are just fine with what their proposal is and, you know, it is what it is versus invest more time and energy into those modifications. Because I think that they have been given a lot of good information today. I really do. For them to either adjust and provide additional or sit back and wait for us to make a decision if they choose not to make any modifications. Bernt: Mr. Mayor? Simison: Councilman Bernt. Bernt: After reading the tea leaves and hearing the wonderful information that has been given us to this evening, I -- I really do appreciate the recommendations by former Mayor Page 46 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 44 of 47 Tammy and -- and I agree with her wholeheartedly with regard to discussing furthermore public space, you know, what do these two projects offer in regard to, you know, the draw to downtown, the replacement of the open space, elements of the community center, parking and all the things that were mentioned by Mayor Tammy. So, I -- I would be supportive of continuing this discussion. We have 15 more minutes until our -- our 6:00 o'clock meeting starts and I know that there are some things that we need to do before then as well. So, I don't know what the time frame looks like and I --and I ask for guidance in what that looks like and what we -- the formalities with -- with that before I make an official motion. De Weerd: Mr. Mayor, I guess as -- maybe we need to ask the applicants what kind of time frame they would need, but I would -- just to add to the list is with more specificity that draw for the public gathering space is important. But also equally important is what the financials will look like. So, as -- as some of these changes are considered in particular for the first project, how some of these changes might close the gap and maybe, then, staff would need to do a new financial analysis at to -- to say what TIF would generate that would help us make a better decision as well. Simison: Would the applicants like to provide any feedback on proposed time frames for any additional changes based on what you heard? Evarts: Yeah. Mr. Mayor, City Council, MDC Board, I also want to protect Caddis in this whole thing, so this has gotten very complex, at least in my view as a respondent, because I think what Mayor Tammy has been talking to in terms of activation on 2nd and stuff like that, when we were originally putting together our response to this, it wasn't with the consideration of taking city streets and doing activations and -- and stuff like that. So, I want to be careful that -- that you guys give us some really clear boundaries for what you guys want us to address, because I don't want this to be something that is unfair to them or to us. I mean ours is pretty straightforward. There is not a lot of mystery there. But -- but I also want to make sure that it's a level playing field, that when we are responding to these things that we are not unintentionally creating things that are going to cause hardships and I certainly don't want a group that's traveled here from Michigan to feel like they are getting marginalized, so -- by a process and their time wasted. So, that's my two cents. I'm happy to provide anything on -- you know, we are -- we are committed and already doing things, but I just want to protect them. So, they are probably better suited to kind of answer that. Bernt: And, Mr. Mayor, it's -- you know, with -- with all due respect, it's -- it's totally okay to -- to participate via Zoom, you know. I mean if the folks, you know, want to participate via Zoom and I -- that's totally respectable and, Mayor, we only have ten more minutes. Simison: I know. We are just trying to get a time frame for any sort of re -- new information back to the city and MDC. K.McGraw: Well, I got up at 5:00 a.m., so I got to talk. At least a little bit. I'm Kevin McGraw. I'm the president of River Caddis and John's proud father and his brother also Page 47 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 45 of 47 works for us. We need at least a couple of weeks. You won't get new drawings. That's impossible. That would take me a month and I would say two and a half, three weeks. You got Thanksgiving coming up next week. So, at least two and a half, three weeks. Zoom would be great for lots of reasons. We travel around the country doing this. But I just want to emphasize a couple things. And, Josh, thanks for all the nice comments you made about us and I say the same thing about you and your Pacific Companies. Great resume. Great everything. No complaints. You have got great choices in front of you. But you need to pick a team, because what you see in front of you is a placeholder. It's nothing. You just wanted to see what we could do. That's all that is and so when we talk about taking out a community center, taking a park, none of that matters. If you are going to buy a house you got to find out what your budget is. We don't know what your budget is. We don't know what gap you can fill. We go around the country doing P3s. I used to be a municipal attorney. At a hundred attorney firm I was a senior partner and that's how I got into real estate in doing P3s and helping find money and plugging gaps. Every project, P3 or private, has a gap. We all have to fix it all the time. I know -- I know they have gaps in every project. You got to fix them. We did it in Jules On 3rd, which is a great reference for you, by the way. But you need to pick somebody that you are willing to work with. Collaborate, like my son's emphasized, because that's what we do. We are good at it. And go. You are going to keep going and going and -- and you are just not going to make any -- any progress, because what you see isn't going to be what you get. Because when we sit down and figure out what you can afford and what pays TIF and what plugs the gap, you are going to see that we can satisfy some of your goals, but not all of them. But if it pencils for both of us it's a win and, then, you do it the best way you can with the streetscape. Basically what we showed you is basically what we can do and, yes, it looks a lot like Jules On 3rd, but it's because of the size of the -- of the parcel here and what we are trying to accomplish and one last comment on the community center, we were trying to get public parking, because you can't use CCDC money for a private lot and you can't build public parking on market rate apartments with -- you just can't do it. And so that allowed us to possibly do that. So, there is still a possibility a community center of some sort could work and we did a shared parking analysis with Ada county, by the way, because they had daytime workers in the county and we had nighttime workers and so we had like a 40 percent agreed upon shared parking and we used their parking consultants. I drafted most of the documents with county attorneys and some local attorneys here and we do have local economic incentive people to help us. But we have to find out what you can afford, what your budget is and, then, we back into it that way and ails we really did, both of us, will show you a placeholders of what we are capable of and so a new drawing, new numbers don't mean anything, to be honest. We will do what you want us to do, but we won't have time to do new drawings, which will be irrelevant anyway. If you have any questions I'm here. Simison: Well, speaking for myself, I'm not looking for new drawings. It is -- the way I would describe it, you -- you eat what you produce. Your TIF is what you can make and I think that's really kind of getting down to some of these -- you know, if we can run the TIF without them, that's fine. But, Council President, I will let you decide on what you would like to have by when and when to make a motion to continue this until. Bernt: Mr. Mayor, I was just looking for a date. I know it's two or three weeks. Three Page 48 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 46 of 47 weeks? Is that okay with you, Mr. Evarts? Okay. Do we want to maybe move this to -- maybe -- I know that -- Simison: A date to be determined. Bernt: Date to be determined? Okay. So, let's just move this and very soon we will meet with staff, we will meet with MDC and staff and we will -- we will work out a date and let everyone know. Just a heads up. I wouldn't be opposed to having this at an MDC meeting. I know that MDC comes to our meetings and so City Council going to a MDC meeting, I wouldn't be opposed to doing that or having that part of the discussion. Cavener: I'm supportive of that as well. Simison: December 8th would be three weeks from tomorrow for submittal of information and, then, we can work on a date for a board meeting. Nary: Mr. Mayor? Simison: Mr. Nary. Nary: Just one piece of clarity. So, you can -- so, one piece of clarity. If we don't pick a date today we will have to notice. So, it will take an extra couple of weeks. Simison: I think we will -- we can get it noticed. We are not going to have a date in three -- we have three weeks before we get the information. We could have a date picked by the next day or two and notice it appropriately -- Nary: Okay. Simison: -- without any issues. Bernt: Anything more from me? Simison: A motion. December 8th for the information and a date to be determined. Bernt: Okay. Mr. Mayor, I move that we -- that we continue this discussion to a date to be determined and information to be submitted by December 8th. Hoaglun: Second the motion. Simison: I have a motion and a second. Is there any discussion? If not, all in favor signify by saying aye. Opposed nay? The ayes have it and the item is agreed to. MOTION CARRIED: FOUR AYES. TWO ABSENT. EXECUTIVE SESSION per Idaho Code 74-206(1)(a) To consider hiring a public Page 49 Meridian City Council-Meridian Development Corporation-Joint Meeting Item#1. November 16,2021 Page 47 of 47 officer, employee, staff member or individual agent, wherein the respective qualities of individuals are to be evaluated in order to fill a particular vacancy or need. (Vacated) Simison: Do I have a motion to adjourn? Bernt: Mr. Mayor? Simison: Councilman Bernt. Bernt: I move that we adjourn. Simison: Motion to adjourn the meeting. All in favor signify by saying aye. Opposed nay? The ayes have it. We are adjourned. MOTION CARRIED: FOUR AYES. TWO ABSENT. MEETING ADJOURNED AT 5:55 P.M. (AUDIO RECORDING ON FILE OF THESE PROCEEDINGS) MAYOR ROBERT E. SIMISON 12-7-2021 ATTEST: CHRIS JOHNSON - CITY CLERK Page 50 7/tem 77 E IDIAN 'aAHO AGENDA ITEM ITEM TOPIC: Civic Block Request for Proposals Review Committee Recommendation, Respondent Presentations, City Council/Meridian Development Corporation Board of Commissioners Discussion, and Staff Direction Page 3 Item#1. UNION DISTRICT URBAN RENEWAL PLAN Proposed Improvements Estimated costs expected to be incurred in implementing the Urban Renewal Plan for the Union District Urban Renewal Project (the "Plan") adopted in June 2020 and as amended by the proposed First Amendment are as follows: Community Center Construction $6,450,000 Net District Cost Construction $6,450,000 Community Center Site Improvements $1,615,000 Structured Public Parking* $4,250,000 Sub-Total $5,865,000 Total Community Center Cost $12,315,000 Proposed Public Infrastructure, including Engineering, Design, Installation, Construction, and/or Reconstruction of: Improvements to 3rd Street Improvements to Broadway Avenue Intersection Improvements and Rail Crossing Safety Enhancements Pedestrian improvements Streetscape Improvements Sewer Infrastructure Improvements Water Infrastructure Improvements Electrical Distribution Improvements Right-of-Way Landscaping Improvements Utility Relocations Lateral Relocation and Improvements Irrigation and Drainage Improvements Public Improvements Sub-total $1,215,000 Additional Public Parking* $3,810,000 Other Eligible Public Infrastructure Improvements Fagade Improvements $ 750,000 Property Acquisition $ 3,500,000 Public Plazas, Parks &Open Space $ 3,000,000 Environmental Remediation $ 2,250,000 Idaho Avenue Improvements $ 1,000,000 Planning Studies $ 259,000 Grand Total $28,099,000 * Updated costs for structured parking have increased 35%to as much as 50%since June 2020. Page 4 Item#1. The projects and estimated costs have been derived from the Plan for the Union District which appear in 2020 dollars; and expansion area improvements in the proposed First Amendment which appear in 2021 dollars. Costs may vary, as they will be subject to inflation and further project refinement and timing. New tax increment revenue for the Union District will be derived from all new development and inflationary gains in privately-held land and new construction improvements throughout the 17.5-acre District.The original Union District and First Amendment areas are shown below: _ r r = E MAN AIM E a 1k FBROAUWA AVE r L 5 tFY K 2 Page 5 Item#1. C�VE Nty ® � MERIDIAN �� development corp. ,' ;: REVIVE.RENEW•REDEFINE Memo to Meridian City Council and Meridian Development Corporation Board of Commissioners Request to Include Topic on Joint City Council - Meridian Development Corporation Agenda From: Cameron Arial, Community Development Meeting Date: November 16, 2021 Director, City of Meridian Ashley Squyres,Administrator, Meridian Development Corporation Presenter: Cameron Arial Estimated Time: 120 minutes Topic: Civic Block RFP Review Committee Recommendation, Respondent Presentations, City Council/Meridian Development Corporation Board of Commissioners Discussion, and Staff Direction Recommended City Council/Meridian Development Corporation (MDC) Action Following the Civic Block Request for Proposal ("RFP") Review Committee recommendation; respondent presentations; subsequent question-and-answer opportunity with each respondent; and discussion centered around project concepts, use mix, and required elements; provide feedback and direction to staff regarding a forward path for delivery of a mixed-use project on City- and MDC-owned parcels, known as the "Civic Block." Background In May 2021, an RFP was issued for the five parcels that make up the 1.25-acre Civic Block site. Three proposals were received on the August 24, 2021 due date. None of the three respondents proposed all of the preferred elements citied in the RFP. The proposals were evaluated by the Review Committee, comprised of stakeholders including City Council and MDC Board representatives and downtown community representatives. The RFP calls for the City and MDC (collectively referred to as "the Parties" in the RFP) to hear presentations Review Committee Recommendation After hearing each respondent presentation and receiving information requested for clarification, the Review Committee scored each proposal out of a possible 110 points (this included 10 bonus points for potential new family wage jobs and additional parking beyond each proposed project requirement). With 11 Review Committee members, a maximum of 1,210 points were possible. At its October 21, 2021 final meeting,the Review Committee voted unanimously to recommend River Caddis with direction, upon Council and MDC Board concurrence, that staff enter into negotiations ensuring Council and MDC Board project preferences are met. The summarized desired project concepts included in the RFP are cited below: Page 6 Item#1. The Parties are looking for a creative proposal that will result in an iconic, signature mixed-use development that enhances the character and economic vitality of Downtown Meridian. Respondents may choose, but are not required, to include a new Community Center for the City on the Subject Property. Respondents are encouraged to use their own creativity and expertise to propose a project that delivers the best overall mix of uses that addresses community wants and needs, strengthens opportunities for employment, contributes positive impacts, and serves Downtown Meridian residents, its workforce, and businesses. The Review Committee's final scoring totals appear below: Overall Scoring Place Scoring River Caddis Pacific, et al LCSG* River Caddis Pacific, et al LCSG* 90 79 70 1 2 3 92 59 85 1 3 2 88 84 85 1 2 3 95 S7 75 1 2 3 89 77 46 1 2 3 65 74 75 3 2 1 8S 79 74 1 2 3 105 55 90 1 3 2 so 34 81 3 1 2 84 63 44 1 2 3 37 45 13 2 1 3 912 786 743 15t-3pt5 8 2 1 24 6 3 2nd-2 pts 1 7 3 2 14 6 Jrd-1 Pt 2 2 7 2 2 7 28 22 16 *LCSG chose to withdraw from further consideration RFP Procedural Guidance The RFP award process following Review Committee recommendation is outlined below: The Parties are not bound by the recommendation of the Committee, but will consider the recommendation and the presentations in making their decision. The Parties may also seek clarification of proposal elements through further discussions with the selected Respondent(s). Upon request, any Respondent selected at this stage shall provide any reasonable additional information requested by the Parties. In the event the Parties identify a proposal they deem to be in the best interest of the Parties, MDC will enter into negotiations with the Preferred Developer, for the purpose of developing a Developer Agreement/Owner Participation Agreement(DA/OPA) for the Subject Property and any other proposed downtown sites. There is no guarantee that selection and negotiations will result in execution of a DA/OPA. The decision whether to execute a DA/OPA rests in the sole discretion of the Parties. Those negotiations may result in modifications to aspects of the proposal. 2 Page 7 Item#1. Project Considerations - Improvements and Anticipated Tax Increment With the expectation of reimbursement for qualifying improvements, there are several project elements the Preferred Developer may be expected to undertake. The approximate costs, some of which are included in the Union District Urban Renewal Plan (as proposed to be amended), are outlined below:' Community Center Site Improvement Costs $1,500,000 - 2,000,000 Community Center Parking, 170 stalls (number of stalls may be reduced) $6,000,000 - 7,000,000 Relocation of Hunter Lateral (amount eligible in Union District only) $276,000 Outdoor Public Gathering Spaces ("preferred"element cited in the RFP) Unknown 2nd Street Revitalization Improvements Unknown Documents showing the tax increment forecast for each proposal and the Union District improvements are provided as linked attachments. If directed, MDC and City staff will enter into negotiations with the Preferred Developer, ensuring: • Developer has sufficient, viable financial resources and/or commitments to bring the project to completion; • MDC tax increment reimbursement or City reimbursement will be for qualifying public infrastructure improvements deemed to have a public benefit; • Significant tax increment generation to complete the maximum public infrastructure improvements (link below) as outlined in the Union District Plan; • Developer performance milestones and liquidated damages for nonperformance; • The final pro forma may be subject to an independent third-party audit; • Reasonable Developer return with consideration of the following: o Developer up-front contribution of public infrastructure improvements, including elements not required of or directly related to the proposed Developer-owned project such as a Community Center facility and associated parking, 2nd Street improvements, Hunter Lateral relocation, public open spaces, and other public parking; o Current, regional capitalization rates based on specific project elements and/or return- on-investment, any of which may be subject to third party review. Only a portion of Community Center development costs(specifically,site improvements and parking) are eligible for tax increment reimbursement. Approximately$3,847,000 is available in earmarked impact fees for construction of a new Community Center facility. The estimated cost to construct a new facility is$8,000,000- 10,000,000 which could be reduced if undertaken concurrently with development of the Civic Block. A Community Center facility could be condominiumized as part of a larger project, with the land held by a private entity to ensure future tax increment revenue. The value of the facility would not be subject to property tax assessment. This is reflected in the accompanying Tax Increment Forecast document. 3 Page 8 Item#1. Should negotiations with the Parties' Preferred Developer fail to reach mutual agreement on OPA/DDA terms, staff must seek direction from both bodies before entering negotiations with the next-highest-ranking respondent. Specific Action Options The Parties have the following options: • Accept the Review Committee's recommendation and direct staff to enter into negotiations with River Caddis as the Preferred Developer with additional direction for specific project concepts, use mix, and required elements, if desired; • Direct staff to enter into negotiations with The Pacific Companies/Novembrewhisky as the Preferred Developer with additional direction for specific project concepts, use mix and required elements, if desired; • Reject all proposals and direct staff to re-issue a new RFP in the future, citing specific project concepts, use mix and required elements. Potential Future Actions If applicable, should negotiations with the Parties' Preferred Developer reach mutually-agreed upon terms and conditions, staff will present a summary of the proposed OPA/DDA final terms to their respective bodies. Subsequent actions will include transfer of City-owned land to MDC (with the intent of MDC ultimately transferring the entire subject property to the Preferred Developer) and permission to enter into a DDA/OPA between MDC and the Preferred Developer. Staff will continue to coordinate with Nampa-Meridian Irrigation District and ACHD to facilitate relocation of the Hunter Lateral into 3rd Street, in the Union District (south of Idaho Avenue) and the original Meridian Revitalization District (north of Idaho Avenue). In addition, staff will continue working with ACHD regarding the revitalization of 2nd Street, ensuring proper procedures and approvals are in place. Links to the following related documents can be found here: https:,[/bit.ly/CivicBlock2O21 Original RFP Proposals: River Caddis Pacific Companies/Novembrewhisky LCSG Presentations: River Caddis Pacific Companies/Novembrewhisky Proposal Summary Scoring Criteria Matrix Tax Increment Forecast Union District Public Infrastructure Improvements 4 Page 9 Item#1. CIVIC BLOCK PROPOSAL INCREMENT PROJECTIONS River Caddis Pacific CompanieslNovembre Whisky LCSG Land Value Cum.New Land Value Cum.New Land Value Cum.New Annual New Levy Tax Annual New Levy Tax Annual New Levy Tax (+8%for 5 Const Value+ Taxable (+8%for 5 Const Value+ Taxable (+8%for 5 Const Value+ Taxable Year Const.Value Rate Increment Year Const.Value Rate Increment Year Const.Value Rate Increment years, on Tax Roll Inflation @ Value (-10%) Yield years, on Tax Roll Inflation @ Value (-10%) Yield years, on Tax Roll Inflation @ Value (-10%) Yield then 4%) 10%and 5% then 4%) 10%and 5% then 4%) 10%and 5% 2022 $ 4,274,869 $ $ - $ 4,274,869 0.0053 $22,657 2022 $ 4,275,000 $ $ - $ 4,275,000 0.0053 $22,658 2022 $ 4,275,000 $ $ - $ 4,275,000 0.0053 $22,658 2023 $ 4,616,859 $ $ - $ 4,616,859 0.0053 $24,469 2023 $ 4,617,000 $ $ - $ 4,617,000 0.0053 $24,470 2023 $ 4,617,000 $ $ - $ 4,617,000 0.0053 $24,470 2024 $ 4,986,207 $ 62,000,000 $ 62,000,000 $ 66,986,207 0.0053 $355,027 2024 $ 4,986,360 $ 34,000,000 $ 34,000,000 $ 38,986,360 0.0053 $206,628 2024 $ 4,986,360 $ 58,000,000 $ 58,000,000 $ 62,986,360 0.0053 $333,828 2025 $ 5,385,104 $ - $ 68,200,000 $ 73,585,104 0.0053 $390,001 2025 $ 5,385,269 $ - $ 37,400,000 $ 42,785,269 0.0053 $226,762 2025 $ 5,385,269 $ - $ 63,800,000 $ 69,185,269 0.0053 $366,682 2026 $ 5,815,912 $ $ 75,020,000 $ 80,835,912 0.0053 $428,430 2026 $ 5,816,090 $ $ 41,140,000 $ 46,956,090 0.0053 $248,867 2026 $ 5,816,090 $ $ 70,180,000 $ 75,996,090 0.0053 $402,779 2027 $ 6,281,185 $ $ 82,522,000 $ 88,803,185 0.0053 $470,657 2027 $ 6,281,378 $ $ 45,254,000 $ 51,535,378 0.0053 $273,138 2027 $ 6,281,378 $ $ 77,198,000 $ 83,479,378 0.0053 $442,441 2028 $ 6,532,432 $ $ 90,774,200 $ 97,306,632 0.0053 $515,725 2028 $ 6,532,633 $ $ 49,779,400 $ 56,312,033 0.0053 $298,454 2028 $ 6,532,633 $ $ 84,917,800 $ 91,450,433 0.0053 $484,687 2029 $ 6,793,730 $ $ 99,851,620 $106,645,350 0.0053 $565,220 2029 $ 6,793,938 $ $ 54,757,340 $ 61,551,278 0.0053 $326,222 2029 $ 6,793,938 $ $ 93,409,580 $100,203,518 0.0053 $531,079 2030 $ 7,065,479 $ $104,844,201 $111,909,680 0.0053 $593,121 2030 $ 7,065,695 $ $ 57,495,207 $ 64,560,902 0.0053 $342,173 2030 $ 7,065,695 $ $ 98,080,059 $105,145,754 0.0053 $557,272 2031 $ 7,348,098 $ $110,086,411 $117,434,509 0.0053 $622,403 2032 $ 7,348,323 $ $ 60,369,967 $ 67,718,291 0.0053 $358,907 2031 $ 7,348,323 $ $102,984,062 $110,332,385 0.0053 $584,762 2032 $ 7,642,022 $ $115,590,732 $123,232,754 0.0053 $653,134 2032 $ 7,642,256 $ $ 63,388,466 $ 71,030,722 0.0053 $376,463 2032 $ 7,642,256 $ $108,133,265 $115,775,521 0.0053 $613,610 2033 $ 7,947,703 $ $121,370,268 $129,317,971 0.0053 $685,385 2033 $ 7,947,946 $ $ 66,557,889 $ 74,505,835 0.0053 $394,881 2033 $ 7,947,946 $ $113,539,928 $121,487,875 0.0053 $643,886 2034 $ 8,265,611 $ $127,438,782 $135,704,393 0.0053 $719,233 2034 $ 8,265,864 $ $ 69,885,783 $ 78,151,648 0.0053 $414,204 2034 $ 8,265,864 $ $119,216,925 $127,482,789 0.0053 $675,659 2035 $ 8,596,235 $ $133,810,721 $142,406,956 0.0053 $754,757 2035 $ 8,596,499 $ $ 73,380,073 $ 81,976,572 0.0053 $434,476 2035 $ 8,596,499 $ $125,177,771 $133,774,270 0.0053 $709,004 2036 $ 8,940,085 $ $140,501,257 $149,441,342 0.0053 $792,039 2036 $ 8,940,359 $ $ 77,049,076 $ 85,989,435 0.0053 $455,744 2036 $ 8,940,359 $ $131,436,659 $140,377,018 0.0053 $743,998 2037 $ 9,297,688 $ $147,526,320 $156,824,008 1 0.0053 $831,167 2037 $ 9,297,973 $ $ 80,901,530 $ 90,199,503 1 0.0053 $478,057 2037 $ 9,297,973 $ $138,008,492 $147,306,466 0.0053 $780,724 2038 $ 9,669,596 $ $154,902,636 $164,572,231 0.0053 $872,233 2038 $ 9,669,892 $ $ 84,946,607 $ 94,616,499 0.0053 $501,467 2038 $ 9,669,892 $ $144,908,917 $154,578,809 0.0053 $819,268 2039 $ 10,056,380 $ $162,647,767 $172,704,147 0.0053 $915,332 2039 $ 10,056,688 $ $ 89,193,937 $ 99,250,625 0.0053 $526,028 2039 $ 10,056,688 $ $152,154,363 $162,211,051 0.0053 $859,719 2040 $ 10,458,635 $ $170,780,156 $181,238,790 0.0053 $960,S66 2040 $ 10,458,955 $ $ 93,653,634 $104,112,589 0.0053 $551,797 2040 $ 10,458,955 $ $159,762,081 $170,221,036 0.0053 $902,171 $ 62,000,000 $11,171,557 $ 34,000,000 $ 6,462,394 $ 58,000,000 $10,498,696 Adjusted: $ 54,000,000 $ 9,825,790 Adjusted:N/A Adjusted: $ 50,000,000 $ 9,152,929 Assumptions: Land value based on recent 113 E.Idaho value/sf($78.51),1.25-acre Civic Block site size, 2022 ownership change and reassessment Land values inflate at 8%per year for 5 years,then 4%for the remainder of the term Improvement values inflate at 10%per year for 5 years than 5%for remainder of the term.Adjusted projections for River Caddis and LCSC assume a condominiumized Community Center resulting in a reduction of$8,000,000 in new construction value and a corresponding reduction in tax increment. Tax Rate reduced by 10%in anticipation of potential modifications to the property tax system and/or the closure of the Downtown Meridian District New construction values based upon developer's estimates Earliest C.O.for projects will be in 2024 Residential units will not be owner occupied,not subject to the HO Property Tax Exemption Residential units will all be market rate rental units Does not include MDC allocation for administration(capped at$50,000/year for entire District) Page 10 Mixed Use REQUEST FOR Downtown PROPOSALS Development Opportunity +. �' • ' tea'���J�_ _ key ;■"Y ~ ' e� � �� ■ '��� "°¢. x - -���•�� L. � � 17.E 7r. r �� � 16r riv 11 — Item#1. REQUEST FOR PROPOSALS THE CIVIC BLOCK DOWNTOWN MERIDIAN MERIDIAN DEVELOPMENT CORPORATION TABLE OF CONTENTS Purpose ..................................................................................................... 2 Background ................................................................................................ 3 DowntownMeridian ...................................................................................... 6 Plans, Studies & Resources ............................................................................ 7 GuidingPrinciples ........................................................................................ 8 Basisfor Selection .........................................................................................10 Instructions to Respondents ........................................................................... 14 Community Center Guidelines ........................................................................ 18 Respondent Statement ...................................................................Attachment A Proposals Due Tuesday, August 24, 2021 at 4:00 p.m. MDT Page 12 Item#1. REQUEST FOR PROPOSALS PURPOSE The Meridian Development Corporation ("MDC") is soliciting proposals from developer Respondents interested in delivering a mixed-use development on real estate owned by MDC and the City of Meridian ("City"), known as The Civic Block. The properties are currently occupied by the City's Community Center and Centennial Park and an MDC-owned parking lot located in downtown Meridian, Idaho ("Subject Property"). This effort is a partnership of the two entities and MDC and the City may collectively be referred to as the "Parties." It is well documented that Meridian is one of the fastest growing cities in the country. People want to live, work, recreate, and raise families in Meridian. Downtown Meridian is experiencing a resurgence, and this Request for Proposal ("RFP") provides an opportunity to benefit from and become part of that redevelopment. The Subject Property consists of a portion of one of the key blocks in the Downtown. The Parties seek proposals to create a signature downtown mixed-use project that will promote further economic growth and vitality in the area for the benefit of the Subject Property as well as other properties and businesses located in Downtown Meridian. Please refer to the link to a video regarding the City of Meridian and its economic growth opportunities: https://drive.google.com/file/d/0B8ipaYCScyWiNidMcl J4bFQxWUU/view?usp=sharing eil&ts=59c2cb28 The Parties have formed a Review Committee that will evaluate proposals, interview selected Respondents and recommend a Preferred Developer to the MDC Board of Directors and the Meridian City Council. It is the Parties' intention to then negotiate in good faith to reach agreement regarding development requirements and final terms and execute a Development Agreement/Owner Participation Agreement ("DA/OPA") with the Preferred Developer. Both Parties must approve the successful proposal and the DA/OPA between MDC and the Preferred Developer. The Parties are looking for a creative proposal that will result in an iconic, signature mixed-use development that enhances the character and economic vitality of Downtown Meridian. Respondent proposals should be detailed and address all of the required sections in the Guiding Principles and Basis for Selection listed herein which the Parties anticipate will result in a project that will stimulate economic growth, private investment, development, and redevelopment in the downtown area. The creativity and professional judgment of the Respondent is not limited to the Subject Property. The Parties will consider proposals that include other uses and sites in either of the two downtown urban renewal districts, as long as those uses and/or sites further the intent, goals, and objectives of the Parties as described in this RFP. If additional parcels are included outside the Union District then any financial participation by MDC MDC RFP CIVIC BLOCK PAGE 2 Page 13 Item#1. regarding those parcels would come from the increment funds generated by the parcels and/or within the district in which they are located. Respondents may choose, but are not required, to include a new Community Center for the City on the Subject Property to enhance opportunities to live, work, and recreate in downtown Meridian (see page 20 for specific Community Center requirements). Respondents may submit either or both of two proposal options: • Subject Property that includes desired uses identified without a Community Center • Subject Property that includes desired uses identified including a Community Center The City is open to the creation of a public-private partnership for delivery of a new Community Center. BACKGROUND The Subject Property consists of five parcels totaling approximately 1.25 acres. The Subject Property, the surrounding area and utilities are generally depicted below. The property is located at 201, 223, 231, and 237 E. Idaho Avenue and 226 E. Broadway, Meridian, Idaho. Owner:City of Meridian Address: 201 E.Idaho Parcel: R5672000856 Size:0.33 acres Address: 223 E Idaho Parcel: R7596000080 Size:0.16 acres Address: 231 E.Idaho Parcel: R7596000075 Size:0.08 acres Address: 237 E.Idaho Parcel: R7596000065 Size:0.16 acres Owner:Meridian Development Corporation ! rr Address: 226 E,Broadway Y � Parcel: el: R 5 6000092 S x 7- - The two existing buildings on the west side of the block will remain and ideally be incorporated into proposed concepts and designs. The Community Planning MDC RFP CIVIC BLOCK PAGE 3 Page 14 Item#1. Association of Southwest Idaho ("COMPASS") and Valley Regional Transit ("VRT") jointly occupy the 16,000-square-foot building at the southwest corner of the block. Meridian Library District's unBound operations are housed in the recently-renovated, 3,800-square foot building situated midblock. E IDAHO AVE r�; 1 + • n �rz'! rX TL r � cpn�Pass •� F VRT Building. im- IL E BROADW A►AVE Utility providers for the site include: • Meridian Water • Meridian Sewer • Idaho Power • Intermountain Gas • Nampa-Meridian Irrigation District and Lateral Users Association • CenturyLink MDC RFP CIVIC BLOCK PAGE 4 Page 15 Item#1. Maps of the two Downtown urban renewal district boundaries are depicted below: Downtown Urban Renewal District 05 'Miles 0 CHERRY--- The infom,aton shown on th'z r-p is oon,Wed 1—va— Legend o�oe:and a sulryed to—.knr rffmion.Trhe City of McRson '■■ = -.kes ro worwnty ar a�arontee-to the o fiord oc—y, rea A of Imac pt timerns;.,.or co-�pls---.�any m m data praade.arw ..0 e.-Iegol res—sibllity for the irfomiation contained .-_ Meridian City Limits - ,�~Downtown°rban Renewal Dishict Fp�ITy ® ioi ililley Old Town Future Land Ilse "-A "'� rfasr Off![t••�1• boy d r Gfrf Cfub ------ PINE -- - szsT-cenrenmal y-- mssrvads `kti qq L.C7r7T�I�I� Park p�v'� jlll. �1% > �Irddle .��ml rt�---- E yi 1TL U_Y Hall cl_�L =____� ii } Z� ! x- Z Z. - • Cbamb -vf Srarivu C7 G J RFRA NKLIN Cv..- i z nl'r3^�oorJL± ® - -- .�..� 1.:�-____ � � ■- K Meridian Sra __-____ Pere igh�SO—!c ;'• gyp, ,. .+■ - - ___` "-- - H4 - '� The Union District Lz E STATE AVE - E'PIN F-AVE n q ...... .._ ■ �E IDANO AVE ■ ■ e m r -is------ Z NME BR OApWdY AVE a o: 2 c: DAD 57 ■ Z i .................f r BOWER ST ; E BOWER qT �s Po z w 9.y zGa' Ra o - - E ADA 5T ram, Legend N z - r Urban Renewal disAct [AVE Q _ Parcels EKIlI[.5T —Railroad Z 0 zoo s■o �Felf The Subject Property is in a newly formed urban renewal district (URD). The Union District provides the opportunity to utilize tax increment financing (TIF) revenues to fund qualifying public improvements (utilities, curb/gutter/streetscape, parking, etc.) on the site and/or in the District. MDC RFP CIVIC BLOCK PAGE 5 Page 16 Item#1. The Subject Property is also within the Meridian Opportunity Zone. This federal designation can provide significant tax benefits for investors. Respondents are encouraged to consult the Internal Revenue Service website as well as tax professionals for additional information (https://www.irs.gov/newsroom/opportunity- zones-frequently-asked-questions). Opportunity Zone 0.5 'MilES 0 Legend � �+ ■'Area of Impact - --- �OpporiuniryZone ----' EAIRVIEW ::me:o ieaoire:poi:umvra mero�anaomaed Meridian City Limits P[NE - �ECUfIV E W City Nall - C � O F � c t$ o G G 4 - _ fY. 55 �P J �E IDI� IAN*_-- IDAHO DOWNTOWN MERIDIAN Intentionally, Meridian's downtown is anchored by City Hall, which houses several hundred onsite employees. Downtown events include the Dairy Days parade, Trunk or Treat, and a holiday parade and tree lighting ceremony, all of which bring several thousand visitors to the area. Meridian Main Street Market operates a Saturday morning farmers' market, mid-April through mid-October, in the City parking lot south of City Hall. Specific to the Civic Block site, the COMPASS/VRT building houses approximately 50 employees, while the unBound facility has seven onsite employees. When fully operational, unBound anticipates more than 15,000 annual visitors will access its technology and entrepreneurial support services. Valley Regional Transit, with support from the City, will be initiating a fixed-route, electric bus, connector line to run from Ten Mile Crossing, though Downtown Meridian, to The Village. Service is anticipated to begin in 2022. MDC RFP CIVIC BLOCK PAGE 6 Page 17 Item#1. Valley Regional Transit Route 30 LLstick Rd I I Mra;em or aareau o. .cnateaa ae�� - _ WAR+wMPok - - 3 — - - - Franklin Rd 00ve1a1d Rd 41 �camerwwa or�� I O Stops Route 30 Pine 0 38 0 75 1 5 Mlles Old Town Lofts, a project made possible through the cooperation and disposition of properties of the Parties, is under construction on the block north of City Hall. The project will include 103 residential rental units and 15,000-square feet of ground floor commercial space. Regional engineering firm, Keller Associates, is constructing a new corporate headquarters at the northeast corner of Bower Street and Main Street. The 19,000- square-foot project will encompass office space for Keller's 75 employees, with room to grow, as well as two small spaces available for other users. Galena Opportunity Fund recently acquired the Union Pacific properties, north of the railroad right-of-way to Broadway, between Main Street and East 3rd Street. The proposed project received a Conditional Use Permit for a height exception from 75 to 100 feet in 2020. While no official submittal has been received at the time of this publication, Phase I of the mixed-use project is projected to encompass approximately 330 residential units, 15,000 square feet of commercial space, and a multilevel parking structure on the eastern half of the properties. Phase II is projected to include two multi- story office buildings and a second parking structure on the west side of the site. PLANS, STUDIES & RESOURCES The Parties have adopted plans and conducted studies on their own and as part of collaborative planning initiatives related to diversifying and strengthening the local economy and improving the downtown. These plans and studies include: MDC Meridian Revitalization Plan (2002) https:Hmdcfile.s3.amazonaws.com/RevitalizationPlan2002.pdf MDC Destination Downtown Master Plan (2010) MDC RFP CIVIC BLOCK PAGE 7 Page 18 Item#1. http://www.meridiandevelopmentcorp.com/sites/defauIt/files/imce/Vision%2BDocument 052510.pdf MDC Residential Market Feasibility Study (2014) http://mdcfile.s3.amazonaws.com/MDC%2OHousing%2OReport FINAL%2012%2002% 2014.pdf City of Meridian Comprehensive Plan (2019) https://meridiancity.orq/planning/files/compplan/Adopted-Comp-PIan.pdf It is recommended that Respondents review information provided in the following websites: http://www.meridiandevelopmentcorp.com/ https://meridiancity.org/planning/cutsheets/LU-OT https:Hmeridiancity.org/pIanninq/files/City%2OCore%2OStreetscape%20Handout%20(E ncroachment, Union District Downtown Urban Renewal District (2020) https://weblink.meridiancity.org/WebLink/DocView.aspx?id=190630&dbid=0&repo=Merl dianCity GUIDING PRINCIPLES The following development preferences and principles are to serve as guiding principles. Proposals that adhere to these principles will receive a higher level of attention during the review process. It is not the intention of the Parties to dictate the use mix. Respondents are encouraged to use their own creativity and expertise to propose a project that delivers the best overall mix of uses that addresses community wants and needs, strengthens opportunities for employment, contributes positive impacts, and serves Downtown Meridian residents, its workforce, and businesses. A. Adherence to City land development code, Comprehensive Plan and urban design standards. Any proposed variation from the City Code must be described in the proposal. B. The urban renewal and Old Town zoning districts provide for special uses and development standards, and for potential funding sources. C. Preferred projects should feature a mixed-use development with active street level uses that will bring visitors to the area, service downtown residents and workers, and contribute to the vitality of Downtown Meridian. D. Projects must be a minimum of 35 feet in height. The City, at the time of this publication, is currently undergoing the public hearing process to consider an increase in the maximum height in the Old Town core from 75 feet to 100 feet in order to maximize development. A greater maximum height may be considered through a Conditional Use Permit process. This process is expected to be finalized in Summer 2021. E. Off street parking for all proposed uses should be included, either on the Subject Property or on adjacent or nearby sites. Respondents will be expected to have approvals for off street parking at secondary locations in place before the Subject Property will be transferred for development. MDC RFP CIVIC BLOCK PAGE 8 Page 19 Item#1. F. The Parties have initiated revisioning concepts for East 2nd Street, between Broadway Avenue and Idaho Avenue, for enhanced streetscapes contributing to a pedestrian-friendly downtown corridor that may be closed to vehicular traffic from time to time to accommodate community events. Respondents are encouraged to capitalize on this public space to enhance and create pedestrian connections to the proposed project. The basic concept has been presented to Ada County Highway District ("ACHD"), which owns and maintains the road and sidewalk improvements. Respondent timelines and cost breakdowns should include all visioning, community outreach and engagement, design, ACHD approvals, and construction for East 2nd Street improvements. Preferred projects will include outdoor spaces that encourage public gathering. G. The completed project should result in a significant increase in the valuation of the Subject Property. H. To the extent possible, the Parties will support the vacation of the eastern half of the public alley. The proposed project must include one-way vehicular access from East 2nd Street, with an exit south to Broadway Avenue, and adequate access for deliveries and trash enclosures to serve the unBound and COMPASSNRT buildings. I. Proposals for the use of buildings and land can be in the form of a fee simple purchase or other transfer or lease of the ownership interest in the land and buildings. J. MDC seeks a Respondent willing to accept the Subject Property "as-is" and will consider proposals for a public-private partnership regarding portions of public improvements necessary for the development. K. The Parks and Recreation Department has outlined the general programming needs for a Community Center along with approximate space sizes for its uses. Respondents who choose to include a Community Center can propose a stand- alone facility or an incorporated (possibly condominiumized) facility in a larger mixed-use development. L. The City will require a minimum notification of six (6) months prior to demolition of the existing Community Center building. Development Incentives The Parties will work collaboratively with the Preferred Developer to finalize a comprehensive development plan for the site. The City will relocate the Hunter Lateral, which bisects the site, in order for the Parties to deliver the greatest square footage available for development. It is anticipated that the Hunter Lateral will be relocated into 3rd Street and available for tie-in during the 2022-2023 irrigation off season (approximately mid-October 2022 through mid-March 2023). MDC RFP CIVIC BLOCK PAGE 9 Page 20 Item#1. The Preferred Developer may be reimbursed by MDC, through new tax increment revenue generated by the project, for qualifying public infrastructure improvements associated with the proposed project. This may include East 2nd Street planning and improvement costs. Note: The City will be submitting a grant application that could cover a portion of the design costs for East 2nd Street. The Subject Property will be transferred to the Preferred Developer at an agreed-upon price necessary to produce a reasonable return. BASIS FOR SELECTION This RFP will be evaluated utilizing the criteria listed below while keeping in mind the general preferences and Guiding Principles described in this RFP. The Parties and the Review Committee have assigned the total possible number of points to each of the criteria to help identify the weight or importance of certain criteria in relation to others and to assist in the application of the general goals and objectives of the Parties. The scoring and application of these criteria and the final selection of the successful proposal, if any, rests in the complete discretion of the Parties. These criteria and the points assigned do not establish a guarantee or expectation that the proposal with the highest score will be selected but are simply a tool to help the Parties evaluate the proposals. The selection of a proposal, if any, rests in the sole discretion of the Parties and what they feel is in the best interest of the Parties and the future of Downtown Meridian. Project history and experience from Respondents' current and previous projects and customers may be used to evaluate some of the criteria. 1. Is the proposal likely to deliver a signature, iconic mixed-use development that enhances the architectural character and vitality of Downtown Meridian? POINTS: 15 2. Is the proposal likely to achieve substantial economic benefit to the community— especially those portions of the City located within Downtown Meridian? Economic benefits include but are not limited to, broadening and enhancing the economic base of the downtown, stimulating new growth and other private development and investment, tax revenue generated, increased property values, long term economic opportunities, employment and job creation, and attraction of visitors and residents to support downtown businesses. POINTS: 15 3. Does the Respondent and its team have the qualifications and experience necessary to successfully complete the proposed project? A proposal should specify the team involved and who will actually develop the project. The listed team should include those involved with the various aspects of the project such as design, construction, project management, investors, funding and/or financing, etc. Experience and qualifications may be demonstrated through references and examples of representative projects of similar scope and size that have been successfully implemented by the Respondent. POINTS: 20 MDC RFP CIVIC BLOCK PAGE 10 Page 21 Item#1. 4. Does the Respondent have the financial ability and viable plan to complete the project in a timely manner? Such ability is determined in part by a review of recent financial statements and/or a statement of financial sufficiency from a known and established bank or similar financial institution that demonstrates the financial capacity to carry out the complete project. POINTS: 20 5. Does the proposal substantially conform with the vision, goals and objectives of Destination Downtown, the Meridian Revitalization and Union District Plans, and the Comprehensive Plan for the City of Meridian? The Respondent must comply with City ordinances and other local ordinances and requirements. The Respondent should describe any proposed land use changes, conditional use permits, variances, alternative compliance, and other approvals that may be needed and sought by the Respondent to implement the proposed project. POINTS: 10 6. Does the proposal show commitment and detail regarding an appropriate plan for the property or properties and does the Respondent propose to implement its plan in the immediate future? The proposal should not be for speculative purposes. What is the timeline for commencement and completion of the project? It is anticipated that the larger the project, the more time would be needed. In any case, expeditious and timely completion of the project will be beneficial to the Parties, Downtown Meridian, and the community. POINTS: 10 7. The proposal should provide required parking for the proposed project and should not result in a net loss of parking in the downtown area. Does the proposal have a viable, detailed parking plan for the proposed uses? POINTS: 5 8. Does the proposal demonstrate creativity, innovation, and sustainability in regard to the scope and design of the project? POINTS: 5 9. Bonus Points: Up to ten (10) bonus points may be awarded based on a) additional parking stalls beyond code-required parking for the proposed project, and b) potential for new family wage jobs (maximum of five (5) points in each category). POINTS: Up to 10 The Parties reserve the right to reject any or all proposals and to make an award on the basis of suitability, superior quality, and the best interests of the Parties. Presentations The Review Committee and the Parties will invite selected Respondents to make a presentation in accordance with the following: If there are three (3) or fewer Respondents that properly submitted proposals, then all of those Respondents will present to the Committee and then to the Parties. If there are more than three (3) MDC RFP CIVIC BLOCK PAGE I I Page 22 Item#1. Respondents that properly submitted proposals, then the Committee will determine the most qualified Respondents and invite them to make a presentation to the Committee and then to the Parties. Following completion of its work, the Committee will make a recommendation to the Parties regarding the ranking of the presenting Respondents and their respective proposals. The Parties are not bound by the recommendation of the Committee, but will consider the recommendation and the presentations in making their decision. The Parties may also seek clarification of proposal elements through further discussions with the selected Respondent(s). Upon request, any Respondent selected at this stage shall provide any reasonable additional information requested by the Parties. Award In the event the Parties identify a proposal they deem to be in the best interest of the Parties, MDC will enter into negotiations with the Preferred Developer, for the purpose of developing a DA/OPA for the Subject Property and any other proposed downtown sites. There is no guarantee that selection and negotiations will result in execution of a DA/OPA. The decision whether to execute a DA/OPA rests in the sole discretion of the Parties. Those negotiations may result in modifications to aspects of the proposal. If those negotiations are not successful then the Parties may, but are not required to, authorize MDC to negotiate a DA/OPA with the Respondent with the next most beneficial proposal and so on. The DA/OPA will be contingent upon the City transferring its portion of the Subject Property to MDC. The DA/OPA may also provide for a contingency commitment period to be negotiated to allow the Preferred Developer adequate time to perform any additional necessary due diligence and finalize financial commitments. The final pro forma may be subject to an independent third party audit paid for by the Parties. Any contract negotiated between a Preferred Developer and MDC staff shall be subject to final approval of the Parties to enable transfer of the Subject Property. Agreement Documents A copy of the RFP and Respondent proposal submittals, and any other related documents will remain on file with MDC. It is understood that these documents will form the basis and become part of the DA/OPA upon any award of the contract. All materials or services supplied by the Respondent shall be in conformance with all the specifications contained herein and shall adhere to all applicable Local, State, and Federal Laws and regulations. All provisions of the City code are applicable to any proposal submitted or contract awarded pursuant thereto. Project Representative Ashley Squyres, Administrator Meridian Development Corporation meridiandevelopmentcorp(cb_gmail.com Phone: (208) 477-1632 MDC RFP CIVIC BLOCK PAGE 12 Page 23 Item#1. Any and all explanations desired by a Respondent regarding the meaning or interpretation of this RFP or any part thereof must be requested in writing and directed to the MDC Representative and in accordance with Section 2 Explanations to Respondents of the Instructions to Respondents below. Failure to adequately respond to all proposal requirements may result in rejection of the proposal. It is the Respondent's responsibility to ensure Respondent has received all addendums prior to submitting. Dated: MERIDIAN DEVELOPMENT CORPORATION Ashley Squyres, Administrator MDC RFP CIVIC BLOCK PAGE 13 Page 24 Item#1. INSTRUCTIONS TO RESPONDENTS 1. PRE-PROPOSAL MEETING A pre-proposal meeting is scheduled for Monday, June 07, 2021 at 2:00 p.m. The meeting will be held at Meridian Library District's unBound facility, 722 East 2nd Street. A site visit will follow a brief introduction/presentation. Participants will then return to the meeting room for any follow-up questions. If a Respondent is from out of town/state and cannot make the meeting, please contact Project Representative Ashley Squyres. 2. EXPLANATIONS TO RESPONDENTS There are nineteen (19) total pages in this RFP, not including the Respondent Statement (Attachment A). Any addendums to this RFP will increase the total number of pages. It is the Respondent's responsibility to ensure they have all pages, including any amendments, that are included in the RFP. If any pages are missing, immediately request a copy of the missing page(s) by emailing your request to the Project Representative. Any question or explanation desired by a Respondent regarding the meaning or interpretation of the RFP, or any part thereof, must be requested in writing no later than 5:00 p.m. MDT on Friday, August 06, 2021. Any substantive interpretation made will be in the form of an addendum(s) to the RFP and will be issued by MDC and furnished to all prospective respondents of record. In order to be considered a Respondent, a Respondent must complete and submit an RFP Acknowledgment Form to the MDC Representative. The RFP Acknowledgement Form may be obtained from the Project Representative. Oral explanations or instructions given before proposal opening will not be binding. 3. CONDITIONS AFFECTING THE WORK Before submitting a proposal, each Respondent must (1) examine the RFP documents thoroughly and satisfy themselves as to their sufficiency, and shall not at any time after submission of the proposal, dispute such specifications and the directions explaining or interpreting them, (2) visit the site to familiarize themselves with the layout of the downtown and the Subject Property, (3) familiarize themselves with Federal, State and Local laws, ordinances, rules and regulations that are applicable to the project and may, in any manner, affect cost, progress or performance of the work; and (4) study and carefully correlate Respondent's observations with the RFP. Failure to do so will not relieve Respondent from responsibility for estimating properly the difficulty or cost of successfully performing the work. The Parties will assume no responsibility for any understanding or representations concerning conditions made by any of its officers or agents MDC RFP CIVIC BLOCK PAGE 14 Page 25 Item#1. prior to the execution of the contract, unless included in the RFP or any addendum. 4. SUBMITTAL REQUIREMENTS / PROPOSAL RESPONSE GUIDELINES Responses must be received by Ashley Squyres, MDC Administrator, no later than Tuesday, August 24, 2021 at 4:00 p.m. MDT. Responses must be submitted electronically via email to meridiandevelopmentcorp(a-).gmail.com. Late proposals will not be accepted. Proposals must be valid for a period of ninty (90) calendar days from the due date and time. The subject line of the email must read: Proposal: CIVIC BLOCK PROJECT 2021 5. PROPOSAL CONTENT Each proposal submitted in response to this RFP must contain, at a minimum, the following information, in the order presented below: A. Letter of interest/introduction, signed by the lead development entity responsible for delivery of the project. B. Lead development entity legal entity type, number of years in business, and list of other names under which Respondent has operated. C. Development Team and Roles —Architect, general contractor, engineers, project manager. Include a brief company profile that illustrates team members' experience and ability to bring the proposed project to fruition. D. Related Project Experience — Include at least three completed, comparable projects delivered by the lead development entity within the past ten (10) years. For each project, please provide photos, project type, costs, financing sources, timeline, project team members, and two (2) project-related references. At least one of the projects must include a public sector agency reference. E. Concept Plan • Narrative description of the project, proposed uses, approximately square footage for each use • Proposed site plan • Parking plan, clearly stating the location and number of stalls • Circulation/ingress-egress/connectivity, including East 2nd Street • Images that illustrate examples of the project's proposed architectural concepts and designs • Narrative detailing how the proposed project meets the Guiding Principles of the RFP F. Development Timeline G. Financial Capacity — Responses must describe how the project will be funded including equity partners, construction and permanent financing, and anticipated final ownership and operating entity(ies). Letters indicating preliminary financing MDC RFP CIVIC BLOCK PAGE 15 Page 26 Item#1. commitments and/or participation must be included and expire no earlier than 90 days following the RFP due date. H. Project Valuation — Detail anticipated total taxable value of the project investment based on square footage, uses, total land cost, and total construction value. Note that income-restricted or non-profit uses may impact the project valuation. I. Pro Forma — Pro forma must include: • Offering price for Subject Property • Sources and Uses Table —With detailed costs • Detailed financing plan • Project income — Proposed rents and/or sales prices • Infrastructure for which reimbursement is requested — Items and estimated costs J. Projected three- and five-year operating statement (if proposing to acquire the Subject Property at less than fair re-use value) K. Respondent Statement (Attachment A) — Required with each proposal submitted. 6. WITHDRAWAL OF PROPOSALS Unless otherwise specified, proposals may be withdrawn by written request received from Respondents prior to the date and time set for submission of proposals. 7. PUBLIC RECORDS The Parties are both public agencies. All documents in their possession are public records and, except as noted below, proposals submitted will be available for inspection and copying by any person subject to Idaho Public Records Law. If any Respondent claims any material to be exempt from disclosure under the Idaho Public Records Law it must submit those documents as noted. The Parties will review the requested documents and determine whether they feel the documents are exempt from disclosure and act in accordance with Idaho public records law. In submitting a proposal, the Respondent expressly agrees to defend, indemnify, and hold harmless the Parties from any claim or suit arising from the Parties' refusal to disclose any such material requested to be kept confidential. The Parties will take reasonable efforts to protect any information marked "Confidential" by the Respondent, to the extent permitted by the Idaho Public Records Law. Confidential information must be submitted in a separate file with the proposal documents and marked "Confidential Information." It is understood, however, that the Parties will have no liability for disclosure of such information. Any proprietary or otherwise sensitive information contained in or with any proposal is subject to potential disclosure. Prior to awarding a DA/OPA, the Parties may, at their discretion, withhold records relating to the negotiation and award of a contract for the lease or purchase of the MDC RFP CIVIC BLOCK PAGE 16 Page 27 Item#1. Subject Property that are exempt from disclosure, where the release of such records would adversely affect the bargaining position or negotiating strategy of the Parties. 8. ANTICIPATED SCHEDULE Request for Proposal Issued Monday, May 03, 2021 Pre-Proposal Conference Monday, June 07, 2021 Final Day for Respondent Inquiries Friday, August 06, 2021 Proposals Due Tuesday, August 24, 2021 Presentations /Interviews To be Scheduled Selection (may change) Week of October 04, 2021 MDC RFP CIVIC BLOCK PAGE 17 Page 28 Item#1. City of Meridian Community Center Guidelines The Vision The new City of Meridian Community Center will be much more than just a place to attend a class or camp. The goal is to contribute to the quality of life and fill unmet needs of our community through quality activities and services that enhance the physical, mental and social well-being of our citizens; provide diverse recreational opportunities; and create lasting memories. The City aims to accomplish these goals by offering classes, programs, and activities for children, teens, adults, seniors, and families. Street Presence/Form/Materials The Community Center may have a presence at street level, with a plaza for indoor/outdoor activities and events. The Center may be multiple stories. Materials should be quality, long-lasting, durable, and low maintenance. The City envisions a significant amount glass at the both the storefront and upper levels for views. Community Center Uses Use types for the Community Center will include multiple classes and camps for all ages, activity/play space, performances, fitness, and business and community organization meetings. Some uses will be scheduled and reserved (i.e., classes, performances, meetings, etc.), others will be drop-in (lobby). The facility will need to accommodate multiple user groups simultaneously. Size and Design The approximate desired size of the Community Center is 20,000 square feet. Actual size will depend on the form and function of the spaces. City Parks and Recreation staff will collaborate with the Preferred Developer on final space planning and design development. Funding The Parks & Recreation Department anticipates contributing up to $3,847,000 for Community Center construction, fixtures, furniture, and equipment through impact fees, in addition to providing the land from the existing Community Center and Centennial Park to the overall project. The City is open to the establishment of a public-private partnership to fund the remainder of Community Center development costs. MDC RFP CIVIC BLOCK PAGE 18 Page 29 Item#1. Sample Building Program Following is a sample program for the Community Center, subject to refinement as the City works with the Preferred Developer: • Entry Plaza o Seating, shade o Other amenities or public art • Lobby o Informal gathering space o Drop-in activity area o Connect to entry plaza • Reception/Workstations o Reception front counter o Four to five offices/workstations • 1 Large Community Room +/- 5,000 sf o For large gatherings and City events o Divisible into thirds to accommodate community education classes • 2-3 Medium/Large Multi-Purpose Rooms +/- 900-1000 sf o For classes, meetings, etc. o One may be a designated art room • 2-3 Small Multi-Purpose Rooms +/- 500-600 sf o For smaller classes, meetings, etc. • 1-2 Conference Rooms +/- 300-500 sf o For a variety of City and business/community organization meetings • Fitness/Yoga Room +/- 700-800 sf o For a variety of exercise classes • Kitchen o Catering kitchen for warming/serving • Outdoor Patio o Connected to Community Room • Storage o Ample. Exact needs TBD during design development • Parking and Delivery Areas o Approximately 170 stalls, on Subject Property and/or on adjacent/nearby property o Drop off/short term parking area o Delivery area MDC RFP CIVIC BLOCK PAGE 19 Page 30 Item#1. Attachment A RESPONDENT STATEMENT Required with each proposal submitted DECLARATION UNDER PENALTY OF PERJURY In response to the Request for Proposals ("RFP"), the undersigned Respondent hereby proposes to furnish labor, material, travel, professional services, permits, supervision, equipment and equipment rental and all related expenses, and to perform all work necessary and required to complete the following project in strict accordance with the terms of this RFP and the final Development Agreement/Owner Participation Agreement ("DA/OPA") as specified by the Respondent for: CIVIC BLOCK PROJECT 2021 Respondent certifies that he/she has examined and is fully familiar with all of the provisions of the RFP and any addendum thereto; that he/she is submitting a proposal in strict accordance, acceptance and concurrence with the RFP and its terms, conditions and Instructions to Respondents; and that he/she has carefully reviewed the accuracy of all attachments to this proposal. Respondent certifies that he/she has examined the proposal documents thoroughly, studied and carefully correlated respondent's observations with the proposal documents and all other matters which can in any way affect the work or the cost thereof. Respondent agrees that this proposal constitutes a firm offer to Meridian Development Corporation ("MDC") which cannot be withdrawn by the Respondent for ninety (90) calendar days following the date of actual opening of proposals. If awarded the DA/OPA, Respondent agrees to execute and deliver to MDC within ten (10) calendar days, or other later period specified by MDC, after receipt of MDC's Conditional Notice of Award, the DA/OPA, insurance certificates and bonds (if insurance and/or bonding is required). The undersigned declares that he/she holds the position indicated below as a corporate officer or owner or partner in the business entity submitting this proposal with authority to act on behalf of the entity; that the undersigned is informed of all relevant facts surrounding the preparation and submission of this proposal, that the undersigned knows and represents and warrants to MDC that this proposal is prepared and submitted without collusion with any other person, business entity, or corporation with any interest in this proposal. The undersigned understands and agrees that the costs associated with the preparation and presentation of this proposal are not subject to reimbursement by the Parties. Page 31 Item#1. Respondent accepts and agrees with all the terms and provisions of the RFP and any addendum(s) and specifically acknowledges receipt of the following addendum, if any, to the Request for Proposals which addendum have been considered by Respondent in submitting this proposal (if none, state "NONE"): Addendum No. 1 Addendum No. 2 Addendum No. 3 Addendum No. 4 Submitted by: RESPONDENT'S BUSINESS NAME (type or print) By: (Signature in ink) Date: Name: (Print) Title: Bus. Address: Phone: Email: Note: If Respondent is a corporation, give state of incorporation. If a partnership or joint venture, give full names of all joint venture partners and/or other partners. Respondent declares under penalty of perjury that the foregoing is true and correct. Page 32 Item#1. 2021 Civic Block Proposal Scoring .qj y� w `y r C a 22r Criteria&Points Possible V°ooQ41� Additional Criteria Details j o O� 1.Is the proposal likely to deliver a signature,iconic mixed-use development that enhances the architectural character and vitality of Downtown Meridian?(15) 2. Is the proposal likely to achieve substantial economic benefit to Economic benefits include but are not limited to,broadening and enhancing the economic base of the downtown, the community—especially those portions of the City located stimulating new growth and other private development and investment,tax revenue generated,increased property within Downtown Meridian?(15) values,long term economic opportunities,employment and job creation,and attraction of visitors and residents to support downtown businesses. 3. Does the Respondent and its team have the qualifications and A proposal should specify the team involved and who will actually develop the project.The listed team should include experience necessary to successfully complete the proposed those involved with the various aspects of the project such as design,construction,project management,investors, project?(20) funding and/or financing,etc.Experience and qualifications may be demonstrated through references and examples of representative projects of similar scope and size that have been successfully implemented by the Respondent. 4.Does the Respondent have the financial ability and viable plan Such ability is determined in part by a review of recent financial statements and/or a statement of financial sufficiency to complete the project in a timely manner?(20) from a known and established bank or similar financial institution that demonstrates the financial capacity to carry out the complete project. 5.Does the proposal substantially conform with the vision,goals The Respondent must comply with City ordinances and other local ordinances and requirements.The Respondent and objectives of Destination Downtown,the Meridian should describe any proposed land use changes,conditional use permits,variances,alternative compliance,and other Revitalization and Union District Plans,and the Comprehensive approvals that may be needed and sought by the Respondent to implement the proposed project. Plan for the City of Meridian?(10) 6.Does the proposal show commitment and detail regarding an The proposal should not be for speculative purposes.It is anticipated that the larger the project,the more time would be appropriate plan for the property or properties and does the needed.In any case,expeditious and timely completion of the project will be beneficial to the Parties,Downtown Respondent propose to implement its plan in the immediate Meridian,and the community. future?What is the timeline for commencement and completion of the project?(10) 7.Does the proposal have a viable,detailed parking plan for the The proposal should provide required parking for the proposed project and should not result in a net loss of parking in the proposed uses?(5) downtown area. 8.Does the proposal demonstrate creativity,innovation,and sustainability in regard to the scope and design of the project?(5) Total Possible Points-100 0 0 0 Bonus Points:Up to ten(10)bonus points may be awarded based on a)additional parking stalls beyond code-required parking for the proposed project,and b)potential for new family wage jobs (maximum of five(5)points in each category).* Total Possible Points w/Bonus-110 0 0 0 Page 33 2021 Civic Block - Proposal Summaries River Caddis Pacific Companies & LCSG Development Novembrewhisky Development Project 349,900sf 138,OOOsf/ 148,920sf 200,OOOsf Summary 8 stories Bldg A- 3 stories, Bldg B -4 stories 7 stories, could add 2 in future $62M $34M $58M Community "More than 20,OOOsf ...includes a Center 20,000sf N/A commercial kitchen and daycare in addition to other multi-use spaces" 173 132 Residential Micro/Studio - 58, 1 BDR-71, 124 in Building B 82 apartments, 50 condos Units 2 BDR-40, 3 BDR-4 1 BDR - 62, 2 BDR - 62 "...efficiency suites to 4-bedroom working 10% workforce - 80-120%AMI family homes &luxury condos" Residential 173 124 See Net Parking below Parking Stalls "More than 14,OOOsf" Commercial 0 sf 15,OOOsf- Building A 4,030sf for purchase (condo) Square Footage Professional Office Business services and incubator, healthcare, restaurants, food markets Commercial N/A "shared use during business hours for Parking Stalls commercial office tenants" See Net Parking below Net Parking + 71 - 15 - 39 Above/Below Total Proposed: 414 Total Proposed: 124 Proposed: 256 stacked+ 21 = 277 Requirement Required: 343 Required: 139 Required: 132 + 170 + 14 = 316) Unique Features 2nd "Festival" Street Outdoor plaza and amphitheater, rooftop gardens Community Center ownership Uncertainties Community Center ownership Parking revenue sources Parking revenue sources CC to include daycare, full commercial kitchen Final Delivery Q3/Q4 2024 Q2 2024 Q4 2023 Page 34 � x DEVELOPMENT,LCSG Lisa K. Clark and Sean Garretson TABLE OF CONTENTS 3. Letter of Introduction 17. Concept Plan Project Description 6. Development Entity Proposed Site Plan 6. Development Team Parking Plan Circulation Plan 13. Related Project Experience Architectural Renderings Sample Plans Chicon I Guiding Principles Chicon II Franklin Gardens 36. Development Timeline Other Meridian Project Examples 37. Financial Capacity Grant Sources Letters of Support 42. Project Valuation 43. Project Proforma 48. Projected Operating Statement 52. Respondent Statement 53. Appendix United Nations Sustainable Development Goals all { yy r ■ r r + Global J enerative � r - Communities, Inc. "We Build Communities " COMMUNITIES,INC.�P-O�W grow communities - LCSG Development, LLC - Pegasus Planning and Development Item#1. 1 1 1 1 We are pleased to present our proposal for a mixed-use development designed to transform The Civic Block into a vibrant, innovative, sustainable, and iconic community that will become a gravitational center of Meridian's cultural and economic future for decades to come. Centuries Plaza is, in many ways,the City of Meridian's forward-thinking Comprehensive Plan come to life. It will provide a breadth of residential opportunities from workforce housing to luxury condominiums, all encompassed by the highest quality of design and architecture. It will enhance and amplify valuable services and support too often left solely to local governments, engaging private-and nonprofit sector partners to ensure the quality of life, educational opportunities and economic vitality of its residents and their neighbors throughout Meridian. It will offer established and developing businesses flexible ways to grow their operations, and it will provide entrepreneurs and dreamers the space and support they need to realize their visions. It will celebrate and sustain Meridian's proud agricultural past. Our partnership and the team of experts and innovative thinkers we have brought together on this project speak to the values,the ideals,the quality of work, and the trailblazing attitude that guides us. i i f i i 3 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P8 37 1 As we designed this project,we paid special -� • • attention to meridian's r •r• - Strategic Plan and howthis development will — • -• �- _. directly contribute to ti\ • •• these Strategic Themes: - 1. Public safety 2. Growing responsibly ' " " • • = • 3. Addressing transportation concerns • - - - •- - •. - 4. Sense of community and place • M- - •r - 5. Investing in our employees r r 6. Downtown revitalization 7. Economic growth and jobs • • _ 8. Engaging our key partners • -•;- - - - - 9. Clean and reliable water and wastewater • r - .- • - 10. World class parks and amenities _ •. • _ • , 11. Efficient and effective use of tax dollars 1� 111 MINII �I I I I I I111 II 11 III11 iiMill II� I��� III Big 007ill In 1 ��� Illi�� � I 1 ■ 1 i _� � _ II_ �IIIIII IILJ11111 Item#1. At its best, development is like nature— in balance.Those buildings and communities that stand the test of time are thoughtful in their design, but they are also fully engaged with the human behaviors and environmental components that shape our world. We believe that the community we build matters as much as the materials we build with.That is why our programs continue long after the dust settles around a development. We put community first.We were drawn to this project very early because we saw great potential for what we could offer the City of Meridian and what we could help the community do for itself. Centuries Plaza will be iconic; it will draw people in, provide homes, space to gather, public art, education facilities, business incubator space and resources, public gardens, and dependent care.There will be open areas for cultural events and food festivals. People from around the Treasure Valley will be able to meet a friend for lunch in the middle of their workday or spend a Saturday afternoon enjoying a pop-up market on the Plaza. Centuries Plaza pays tribute to our history and is designed for the future. We have identified more than 50 action items, goals, and objectives from Meridian's Comprehensive Plan that we will address with this project.We have highlighted several throughout this proposal. Our team has created an exemplary project that will make the citizens of Meridian proud.We look forward to working with city leaders and the Development Commission to take our community boldly into its future. Sincerely, LCSG Development, LLC Lisa K. Clark Sean Garretson ............................................................................................................................................... LCSG DEVELOPMENT, LLC ............................................................................................................................................... "We Build Communities " 5 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 39 ������......................_���_���........................._�������.................... � ��4��� DEVELOPMENT, ����������T�� � � �� ������� ��� � �����u �u�� � u , ����� -----------------------------------------------' LCSG Development was formed in202ltoleverage two development companies with complementary backgrounds,values,and experience to build socially, economically, and environmentally sustainable communities. Pegasus Planning and Development and grow communities, inc. purposefully came together to create a solution for Meridian's Civic Block. Our joint urban planning mixed-use development,Treasure Valley brokerage,and sustainability experiences and expertise make this partnership perfect for building a truly iconic project in Downtown Meridian. Our lead partners have related work leading a number of entities over the past several years: ^ grow communities, inc.—a Benefit Corporation formed 2020 , Pegasus Planning and Development ^G|obo| ReeencmtivcZrnmVVaste[ommunitios, |nc.—n5Olkj(3) pub|icchorhv formed2020 ^Cameron Investments and [onnPur, LUC ^ Sustainable Investments, LbC ,3Swedes, LUC ^ Elgin Agrarian, LUC | io,"��� ��� � � � �� �� NN ������ NN m�� mm � h | | | Project Leaders co�D����N0� grow communities, ~~~c Pe����� Planning Lisa �� Clark � N = and ��evem���*���nt � A woman-owned regenerative Sean Ganretson lotZIA development company that brings together design, economic Pegasus Planning and ' development, urban farming, real Development provides estate development,and forward- development advising, urban thinking policy to deliver vibrant, planning and market analysis sustainable and welcoming communities—grow builds services to public and private sector clients. Pegasus has communities, not apartment complexes. helped hundreds of clients over the past fifteen years VVe believe that Vo build a truly healthy living understand market opportunities, create economic environment you have to consider healthy indoor development strategies, revitalize vacant land or spaces,the impact on our planet,the ability for people underutilized corridors and downtowns,facilitate tn support one another and create social capital,social strategic directions, and achieve visions. justice, economic stability; climate resilience,and the availability ofresources. Sean iso national expert in urban and regional Our mission isto provide attainable,desirable,and planning, revitalization, economic development, labor healthy environments in which to live,work, play, markets and strategic planning. He has consulted learn,and grow—guided bv the United Nations l7 communities, community colleges, and hundreds of Sustainable Development Goals. Economic Development Organizations across the U.S. Uso's extensive bock�roundinsocio| ondhea|th He leads ateannof planners, ana|y�sand creativesin ~ pmvidin8strategic advice and direction to public and sci�nce�connnnevcio| rca| c�o�edrvc|opnncn�and asset management,green building, and affordable private sector clients. housing have all led to grows focus on the convergence Sean has led the development ofo food trailer pork of the built en�vonmentpublic health, en�mnnne�a| ` o business incubator, senior housing and mixed-use stewardship,social cquitx and'' developments in his hometown of Austin,Texas. She grew upin Meridian and has built aprofessional resume that includes Colliers International, Business His projects have won the National Urban Land Psychology Associates, Cameron Investments,and Institute President's Award and Austin's Most Innovative indieDweU,where she refined her vision to address the Development by the local American institute of housing crisis ina more holistic way. Architects. Lisa was selected and iscune»tl«pardd participating' '-- Sean helped both the City of Meridian and Meridian Urban Land |nstitute'sHea|th Leaders Network,' Development Corporation by creating Economic coho�ofbui|dingexpeUsfocusedonheahbandthe -' built environment. Diversification Strategy, ��a Housing arketAnalysis for Downtown and a Multipurpose Center Feasibility Study for several blocks downtown. Global Regenerativ�% ZerO Waste CROW' Communities,Inc. COMMUNITIES,INC � ' � � ' grow communities ^ b[SG Development, Lb[ ^ Pegasus Planning and Development Item#1. Architecture Platform Architecture Design P L A T F O R M Catherine M. Sewell,AIA, LEED AP ARCH I TECTURE DESIGN Launched in 2005 by Boise architect Catherine M. Sewell, Platform was formed with the goal to produce projects that express the highest aesthetic, environmental and social ideals. Our design approach is simple; to create work that has both meaning and relevance; and appropriate and distinctive response that does not partake in styles, but rather seeks unique site-specific solutions. Platform is a full-service architectural firm, providing planning, design and construction administration services, as well as additional services such as programming, site evaluation, building assessment, interior design, graphics and marketing support. UrbanDesign McKibben + Cooper ; Sherry McKibben and Doug Cooper Sherry McKibben and Doug Cooper, combined more than 80 years of experience when they founded McKibben + Cooper Architects in 1997. Sherry has completed urban design/design guidelines projects in Boise, Garden City, Meridian, Middleton, Kuna, and Caldwell. She is past president of the Idaho Central Chapter of the AIA, past vice president of Idaho Smart Growth, and is a LEED accredited professional. She is a past winner of the Idaho BetterBricks award for advocacy in sustainable building and received Idaho Smart Growth's President's Award for contributions to smart development and green building. Doug has particular experience in sustainable and energy-conserving design, including Head Start schools in Garden City and Meridian,the Barber Park Administration building that has the first modern vegetated roof in Idaho and a LEED certification, and three other LEED certified projects. He is licensed to practice architecture in Idaho, holds NCARB certification, is a member of the AIA, is a LEED accredited professional,was a Boise City Planning and Zoning Commissioner and Planning and Zoning Design Review Liaison, and a founding board member of the Idaho Chapter of the United States Green Building Council and 2014 Board Chair. He won the inaugural BetterBricks award for architects,for sustainable building. 8 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. Page 42 I �I- -9 JJJ Vi General Contractor derson Construction An N0aft BKandfond Founded in l95Uhv Andy Andersen, Andersen Construction's team of over 700is led hv third-generation family member CEO]or| Andersen, President Travis Baker and Executive ��������� Vice President Joel Roho. Andersen builds throughout the Pacific No�hvvestvvithoff ices ��""~~~~"�~"~~"� CONSTRUCTION operating in Boise, Seattle, Portland, and Eugene. We excel at building technically challenging commercial and industrial projects. Our diverse, aword+minningportfo|io includes multi-family housing, hospita|| commercial offices, retail, parking, industrial, healthcare, educational, and advanced technology. Civil Engineer B&A Engineers, Inc. In continuous operation in the Northwest since 192 1, B&A specializes in the personal care nf clients and their projects whi|eenjoying the scale to act quickly, efficiently and accurately. As both a consultant for the private sector and aregulator orareviewing entity for local government,the company brings o deep understanding nf the requirements each job brings. Joseph has over 4Oyears' experience in geodetic, cadastra|, land and topographic surveying, engineering design, project development and construction administration, and site construction. He has served private individuals, private companies, large institutional companies and local, county, state and federal government. He strives to understand the critical components of each p ect'sneeds, cxce|sinthe kind of advance planning that helps even the most complicated projects come together, and brings a genuine appreciation of all team members and how their individual work combines to bring projects to successful completion os seamlessly os possible. 9 grow communities ^ U[SG Development, LL[ ^ Pegasus Planning and Development Cc�}mwmuwm*/w. �» ^ 1--------J Item#1. 14 1 1 Oki "�4N MAI Structural Engineering BHB Structural Darren Truchot, PE BHB Structural was established in 2002 and has grown to become one of the largest structural engineering firms in the Intermountain West.With offices in Idaho and Utah, BHB is licensed in all 50 states and has an extensive residential portfolio, having engineered the new construction of over 180 residential projects. Our dedication to the success of our clients and team members is reinforced by our promise of delivering responsive,well- coordinated and creative structural design on every project.With 26 years of structural engineering experience, Darren's projects have taken him from Idaho to all over the world, including Afghanistan and China. Musgrove Engineering Thad Mason Musgrove Engineering has been providing mechanical and electrical engineering services throughout the West and other parts of the U.S. for 40 years.Thad has vast knowledge and expertise with electrical system designs including, lighting, generator, UPS and data center power distribution,fire alarm, security, and telecommunications distribution designs. 10 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 44 Item#1. JJ Ji 14 k Landscape Architecture RVi Peter Dufrene Founded in 1982, RVi has grown into a national firm with a broad range of project experience that inspires our team to think creatively and embrace every opportunity to create memorable and engaging outdoor experiences. The firm has offices in Austin, Houston, Tempe and Orlando.We approach each new opportunity with an adventurous spirit, a collaborative mindset, and a desire to consistently raise the bar for our clients and for the communities we serve. Project Manager GrOw Communities We have selected an outstanding Project Manager with decades of experience in the world of multi-family and mixed-use development, but cannot initiate the contract until the RFP selection process is complete to avoid any potential conflict of interest. 11 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 4�J Item#1. Ongoing Global Regenerative Zero Waste Communities, Inc. Lisa Clark, President Nemmie Stieha,Programs Coordinator Our programming methodology is to find those art classes,the gardening lessons,the yoga and meditation practices and others that our community already loves and help them grow with more funding,a greater reach,and access.We want to help those of all ages, stages, abilities, and interests find the topic that makes them feel a connection to the greater global community. Lisa Clark Our guidelines to help us find these programs include the following: a) Ensuring funding sources come from nonprofits and companies with green-conscious business practices as well as business practices that are in line with the 17 goals of sustainable development as established by the United Nations, b) Monitoring changes within local and national educational partners to ensure we are on the cutting edge of improvements and having available programming for our community members,and r c) Continuing to work with national and global Nemmie Stieha partners to develop creative programming that falls in line with our mission,vision,and values. .� Nemmie became program coordinator in June 2020, ~Y bringing a diverse background as a 911 emergency k+ dispatcher for Ada County and a music education r? = director and outreach coordinator for the local synagogue.She holds a degree in English Literature with an emphasis in composition from the University of Louisville in Louisville, Kentucky. i V + Earth Day 2022 12 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. Page 46 Item#1. }' i r G CHICON PHASE 1 Located in East Austin,the Chicon Phase I is a 2-building mixed-use and affordable housing community. Pegasus President, Sean Garretson,serves as Board President and developer representative for the east Austin non-profit housing developer,Chestnut Neighborhood Revitalization Corporation (CNRC).The CNRC is one of the oldest CHDOs (Community Housing Development Organizations) in Austin.The Chicon was created to help revitalize an important area of East Austin and provide affordable home and commercial ownership. The development encourages alternative modes of transportation and a decreased dependency on automobiles.This project won the National ULI Jack Kemp Excellence in Affordable and Workforce Housing Chairman's Award in 2019 for the most impactful project of the year •4 -• • Veronicap4 -• • Project Type: Mixed Use Affordable Housing Development Financing Sources: Public/Private Partnership (bond funding)with traditional bank fi nancing Team Members:Sean Garretson, Development Representative References:City councilwoman Natasha Harper .• • a , gmail.com communityWillis Hunt- -.•- • •0• �ow MW t wes_ 13 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P8 47 Item#1. ' s J 4 .y. CHICON PHASE 11 Located in East Austin,the Chicon Phase II, like phase 1,will be a mixed-use and affordable housing community. Pegasus President, Sean Garretson,continues to serve as Board President and developer representative for the east Austin non-profit housing developer, Chestnut Neighborhood Revitalization Corporation (CNRC).The CNRC is one of the oldest CHDOs (Community Housing Development Organizations) in Austin. Phase II will be a carless development with a transportation hub where residents can rent a communal car to use and have access to a bike share program in front of the building.The project will consist of 53 residential units and 3 commercial units (all locally-owned). The project will also feature a roof-top community garden and solar panels intended to significantly reduce the resident's electricity bills (by up to 90%). n 14 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 4$ Item#1. rrr - 1 1 , , ♦ • FRANKLIN GARDENS Franklin Gardens opened in 2011 in Austin,Texas.The development is a 22-unit senior housing community(62 years or older),with an affordability level of 50% median family income or less. Franklin Gardens serves low-income communities in Austin to provide housing for an historically marginalized community. Franklin Gardens offers assisted living, such as daily chores, but provides an opportunity for independent living as well. •roject Type: Senior Housing %Financing • Section 202funds Timelline: Pre-construction began 2015; last units closed spring 2019 Team Members: Sean Garretson, Development Representative : .• Prak, cOmmunity - •- 1-512-785-3432 Gina Copic, City •f Austin � ■ • •• • Global Regenerative ZerO Waste "We Build Communities " Communities, Inc. .,«,M-k „ 15 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. Aw Item#1. ' s .y. OTHER MERIDIAN PROJECT EXAMPLES FIELDS DISTRICT STUDY& ECONOMIC DEVELOPMENT STRATEGY Pegasus created an Economic Development Strategy,a Downtown Multi-use Plan and a Multifamily Feasibility Study for the City of Meridian. Pegasus provided market analysis and feasibility analysis for an Ag Tech Innovation Campus in Meridian.As the city continues to grow economically and expand geographically into surrounding greenfield areas,the City is seeks a creative, harmonious balance between development and agricultural land preservation.They turned to Pegasus for their expertise in 2013. MULTIUSE CENTER FEASIBILITY ANALYSIS The City of Meridian asked Pegasus to develop project plans for multiuse public spaces in their downtown. We conducted a range of interviews and surveys with civic leaders, local business owners,and arts groups to determine local needs for community meeting and performance facilities.We also compiled and analyzed information about current meeting and performance space in the City to help form effective space plans. We looked at local hotel data to determine feasibility and revenue projections for new hotel development.As a result,we recommended two major"lean" ► ` retrofitting projects:a new Downtown Conference Center(that may be built " with an attached 150-room hotel) using land owned by the City and Meridian Development Corporation;&a Performing Arts Center using a retrofitted church - _L property. We developed implementation plans for these projects and worked with the City to make concept designs and renderings of our proposals.We then used public data to develop rough estimates of employment and economic impacts of each project and evaluated potential tax revenue streams for financing them.These plans will guide the implementation of two major catalyst projects for revitalizing the Downtown. DOWNTOWN MERIDIAN MULTIFAMILY&CONDOMINIUM MARKET FEASIBILITY STUDY Pegasus conducted a study for the Meridian Development Corporation to determine the feasibility of new multifamily and condominium construction in the Downtown. Meridian is a fast-growing community in the Boise-Meridian-Nampa MSA,and community leaders are interested in developing a more urban, pedestrian- oriented Downtown with moderate density housing. The Meridian Development Corporation owns land and has redevelopment authority in the Downtown and may be able to promote catalyst residential projects. Pegasus analyzed existing housing stock,quality,and growth rates in Meridian. Using growth rates of population and housing size, Pegasus estimated the 20-year potential for new rental and condominium housing demand in the Downtown.We also performed a zoning analysis to determine buildout capacity of the area.This quantitative and geospatial analysis was combined with extensive interviews with local developers to determine opportunities and threats for Downtown redevelopment.This provided a solid economic foundation for guiding future projects of suburban retrofitting in Meridian's core. 16 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 5Q ' K . - F - '4 '�«.•.. Item#1. r ' �'� Global Regenerative �:. Zerfd Waste ', J rr ` � � 'v `• ,..;ate. Communities, Inc. J' --��a r i - Y 4 v 11 i�y �' , cam•/ asoi R)P)wnikcna,M Al pper�, •-gg L. fj- �- rr :� �. , 5•�"rLr -ii_. ��@ M- - /'hyr J.n•� i __- Yt. 1_l•\ L yt l�n - r� rrrw�wNw rrr r ".`"' ,`� +'d� • ,� y53.r,ff'�:r.,r`z°b yam• 1 �'e •'l _'..r- -�� - '.!ti �.W - wf Y ilk 1` 1 I 1 As Meridian's leaders,you have envisioned a bold future. At the helm of one of the fastest-growing cities in the country,you know that shaping what comes next isn't just about buildings and infrastructure. It's about people,quality of life,and sustainable practices that will help generations thrive. That's why the city's forward-thinking Strategic and Comprehensive Plans are explicit in their commitment to promoting the kind of responsible growth that enhances this long-term vision, prioritizes smart infill,encourages diverse workforce housing options,and leads to high-quality communities. Meridian's plans make clear the need for new developments to help enhance and amplify city infrastructure and services. They call specifically for new developments to provide a mix of housing options and costs and to adhere to top-quality design standards to ensure the creation of vibrant communities with a rich array of amenities. Centuries Plaza embodies these goals and ideals. Designed for the people of Meridian and their brilliant future, Centuries Plaza will create a welcoming and vibrant community that will boost the local economy, steward the environment,support its own and other Meridian residents and business tenants,and foster their health and well-being. Centuries Plaza won't simply house Meridian's Community Center(though that is integral to our proposal) —it will become a true center of the community. This project will offer more than 130 living spaces that address all stages of life providing efficiency suites to 4-bedroom working family homes and luxury condos—but just as importantly, it will provide accessible and convenient health services,child and dependent care,and other essential support that ensures working parents can keep working and contributing to the local economy. Centuries Plaza won't displace"old Meridian"and its agricultural roots—it will celebrate and incorporate this rich and vital history within a state-of-the-art urban agricultural environment that will provide food and activity for residents, drastically reduce waste,and maintain a verdant natural environment in Meridian's downtown core even as the city grows in size and density. Regenerative agriculture and food production on-site will provide educational opportunities for local schools, offer fresh and healthy food for the people of the community. Plus, it's an environmental-stewardship slam dunk. 17 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. qc; Jt Item#1. '. The public plaza will draw families to Meridian's expanding downtown from around the Treasure Valley and beyond for festivals, art performances and other community gatherings. It will become the r living, beating heart of a vibrant city— a great place _ to meet a colleague for coffee on a weekday or to spend a Saturday afternoon with your family at a cultural food festival. LIVING The Community Center's grand entrance on 2nd • 82 apartments Street will open to a magnificent lobby boasting a • 50 condos vaulted art gallery featuring Idaho artists. Public- * 100%ADA accessible facing art throughout Centuries Plaza will highlight Meridian's history and bright future. It is essential to Meridian's vision and its future that new growth and development "pays for itself" But is ► that really enough?What if a development did more 4 . than pay for itself, but actually supported residential and business community members in new ways that leveraged the nonprofit and private sectors instead of ± � just adding new costs and commitments to already �}- strapped local governments? Centuries Plaza is designed to do far more than " generate tax dollars to help keep up with the costs of =fir new city services. The contributions this development will devote to the economic vitality of Meridian are multifaceted. In addition to providing and supporting family wage jobs, business incubator space and the services necessary for parents to keep working, COMMERCE Centuries Plaza will support Meridian public works, • More than 14,000 square feet of Meridian Parks and Recreation, local nonprofits, and commercial space Valley Regional Transit. Centuries Plaza, in partnership • Includes space for programmed support with Global Regenerative Zero Waste Communities, services such as telehealth suites, will also focus on health and well being, our role in cooperative retail and incubator space , building healthy places, and how we can contribute to • Includes commercial space available to better health outcomes for the whole community. entrepreneurs and businesses as condos for sale or lease mom mmil 18 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 JZ r byy �� - ►� •�%- -- � Item#1. � °iA4% Our 200,000 square foot building will capture solar power on exterior shading devices, vertical and horizontal surfaces, as well as traditional and translucent panels — helping to ensure that power can flow affordably and efficiently to manufacturing PARKING and other key business sectors when they need • 256 mechanical stacking spaces it. The development will recycle greywater for all irrigation — helping keep Idaho's most vital • 21 standard spaces natural resource available for agriculture and other • 25% of the subterranean parking structure economic uses. will be equipped to charge electric vehicles, with the pre-planned capacity for charging in Our financial plan integrates community investment, every spot traditional financing, grant funding, an opportunity •A rampless design and other structural fund, revolving loan funds, and bond financing. This considerations will allow the structure to be creative approach not only diversifies the investment converted into additional housing, commercial and mitigates risk, it opens opportunities for wealth- space, or just about anything else when the building for the local community. need for parking declines Centuries Plaza will implement a recycling program r that makes it easy to not only separate and recycle standard materials—a boon for the city's waste management efforts — but also electronics, batteries, ink cartridges, and more. Our nonprofit partner, 1 Global Regenerative ZerO Waste Communities, will t maintain a compost program for the entire project, . Erm- 5=dW again saving waste and demand on city services. We are committed to providing and supporting many forms of alternative transportation, including the new Meridian electric bus system, a community-based , electric ride share program and electric bikes —yet . another way this private-sector project can enhance and expand needed services without further relying on tax dollars. COMMUNITY CENTER You have a bold vision for Meridian's future. To • More than 20,000 square feet will be realize it, you will need bold partners and bold dedicated to Meridian's Community Center community projects. We look forward to showing • Our 501 (c)(3) non-profit partner, Global Regenerative Zero Waste Communities, Inc., you how we can deliver on both. will provide ongoing programming to support and supplement existing programming provided by Meridian Parks and Recreation —and work with other non-profit partners to bring additional funding and programs to the community, such as dependent care, business incubators, health and wellness and more "We Build Communities " 19 GREW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. p Page 53 ti -'�`ram.=_ � i. �.•, �,,� 40. { ilk Item#1. COMMERCIAL COMMUNITY CENTER r 1ST FLOOR COMMERCIAL FtEk RE E fl-L5E — - 2-7 FLOOR RESIDENTIAL COMMUNITY CENTER n LOBBY z em3 UNBOUND1122 a Z I 0 A RH•I-TH•E 'OMPASS 1 f '1 ` 2-7 RESIDENTIAL CONDOS RT ; P �. I � t J f 1ST FLOOR COMMERCIAL CONDOS AOL 20 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 J4 Parking Plan NFEWA"Ij OW ti - `ram.=_ � i. �.•', �,,� 40. Item#1. PUZZLE 013 33 SECONDS Our most popular and versatile mechanical parking solution is the Puzzle.It TIMEAVERAGE RETRIEVAL comes in 2,3,4,5,6,and 7-level configurations;with or without pits and is ideal for new construction or retrofits.This mechanical parking lift also works in a tandem configuration without impacting retrieval time.They are widely used in UP TO 7 LEVELS residential,mixed use,and public garages in impacted urban areas.Replacing traditional stackers with the Puzzle can drastically reduce valet costs since each 2-7 LEVEL CON FIG ORATIONS space is independently accessed.The Puzzle can be used indoors or outdoors and requires a minimum clear height of IV 7 3/4"beginning with the 2 level system. 40,000 SPACESINSTALLED 1111 MODEL NO 3LPWP k CAR SIZES a•�a.. a py UPPF • 1Y.0*•" ragle) - O R HEIGHT OPTIONS ©CityLift Parking www.cityliftparking.com 844.388.0424 MOUNa22'-1 - z.'all NOTES: Recommended and minimum car heights: HH44 SUV:6'—3" o Sedan:5'-5" Additional sizes can be customized.See Car Sizes page. TEachdimension has a tolerance of: 6"for length,6"for width,and 3"for height • Recommend4"depressed slab if doing ground level installation ■ ■ NT for flat driving onto platform Usable space dimensions will not change for flat pallets ■ ■ - 6"needed from back of rear column to face of wall y I www.ciNliftparking.com I dtyLft The subterranean parking structure will W _ employ a stacking puzzle lift system with rapid retrieval, reduced emissions,and a future focus. " NOTES: Rodbedmentandsize on structural wall A... J..�`,.• w design ��w•_" � -mow ©CityLift Parking www.cityliftparking.com f uft 844.388.0424 22 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 JF) �a ® � s h N Circulation Plan ign ii •;'� a lllllllilll111 � I 1 1 111 { M I 1 r Illlllli , I Y �NI/►IH<III■ ruff r 11 I ■ ON mom 0 IIfr;:lii llll l�ram' jirji�ii•:ujll�r-���I�r�l �i;i iii�A iie, •�'• 1%iEi■I Eli3i� � y ^I � — .'s � r Architectural Renderings I11111111r ..n ■■i . Il f! � 1 1�1 ilk�■ ■ t �:: ;��. ..� 11 i1 1111 ll II II II II Ill it 1114 11 I� Il II II - ri Ri immyl ffff � III H 11 i1 1 Ill 11 11 J4I{II pIlII °. ' f�l !1 1l ll 11 11 11 II ■ I�I �'��+II1��I ��,�Il�:f- I it �hf- II ����Illlil lilifl I�f 1113 _- =� e� rl JI 11 ii II ill in��• „� 11-!? III ii i� i i1 it II II loom .... mom .... .... .� 1■1 "Mom logo .m. loll ... 5 - . • 0 40 Item#1. �*ONoT4 :llllil �, Architectural Renderings g T ; r 1 _ � _ -T- •�. r View of the Plaza,the outdoor public amphitheater, and the first few floors of the condominium building showing a glimpse of both commercial condos opening onto the plaza and residential condos with generous patios. Mom. A bird's eye view of the entire project reveals the vast green space,the multiple public and private gathering spaces,and the rooftop greenhouses. 25 GR W grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIes,wc. P Page 59 40. Item#1. J E. IDAHO AVE. tl-0'ot --_O I---------------------------------------------------------------- P 0 COMMERCIAL MULTI-PURPOSE COMMERCIAL TO BED ME (IszssE) O.ussN (laaosr) Illaosh !o ❑ 0 RES LLOOBBV TORnc 05 (aao"EI owrvrvoME APARTMENT BUILDING ES SERVICE a r esosl7 o REaIRD«.s n----- BEaTROGMS "L�;-oosF)Pos TDz NHp ME COMMUNITY CENTER LOBBY (0]OSh COMMUNITY CENTER BUILDING I F.ULT(',2'-U' POSE MUL sLO � U�PoSE GUEST TOWNHOME UNBOUND IllSaU REIFe)Bv (elosE) r ry DO TOWNHOME Z � U W � N 11111111111 RESLOBBY (I}SWi) (0185� O TOWNHOME COMPASS 2BED (Baesi) 0 OCONDO BUILDING ES SERVICE T0z6HsDOME (eaoq COMMERCIAL (IOXci7 RVICES O e E. BROADWAY AVE. First Floor—The ground floor of the project includes townhomes along 3rd street,commercial spaces for rent along Idaho Avenue,and commercial condos for sale fronting Broadway.The community center first floor includes a commercial kitchen and daycare in addition to other multi-use spaces.The center of everything is an open and activated pedestrian friendly plaza. 26 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 60 �a Architectural Renderings � ��■����M.W. .: II ME ° ANON plommomwammm � II ° 0001111infAmwn-p-ml. k�fmmm AN �� A Architectural Renderings - �:►: �_�IIIIIIIIIIIIII � �:.� IIIIIII�IIIIII - ° EL ��_.�� madam,. ' i �...� III �11 l�' '�I■111� �� �I■■I��� 10 mm1111mmmffj&iU rii��■ - 0 1,1� - I■.ICI I: •Fo- mLIIIIIII�IIIIII 1111"I ITI Mill JIMME11009111 � •• so s e- • - • - • - . e. • • - .•• • .•• • .. • • . - r- some ..• 40 Item#1. 11 ON Architectural Renderings ❑ L_J® i Sample One Bedroom Unit MF-1 o4------------ ----------------- DECK DECK ® O ❑ O Sample Two Bedroom Unit ®LDEI -------------------------------- I 29 GREW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. p Page 63 40 { Item# era 1. 1 PRINCIPLESBRINGING MERIDIAWS GUIDING Approach Achieve Your Goals The goals in Meridian's Strategic and Comprehensive Plans are as ambitious as they are essential to the future of this city. Centuries Plaza directly addresses these lofty goals and ideals in every aspect of the project. HOUSING FOR ALL PHASES OF LIFE .:'' ' c 2.01.01 E:Encourage development of universally accessible t •, "' w'r home designs within new developments and home retrofits,allowing residents to age in place and creating full _ accessibility for all residents of varying levels of physical r ability. All units will be ADA visitable with a bathroom, bedroom, , and common areas wheelchair accessible/ADA compliant. K, We will incorporate flexibility to add guest suites or studios to existing leases for expanding families on a long-or short-term basis,as well as flexibility within leases to move - within the Plaza to accommodate changing family size or — space needs without default(subject to availability). 2.01.02D:Encourage a variety of housing types that meet the needs,preferences,and financial capabilities of Meridian's present and future residents. Centuries Plaza includes units both for sale and for rent—all at a mix of market rate, affordable,subsidized and unsubsidized.The project includes small footprint micro-units,studios, larger townhomes, up to 4-bedroom and luxury units. EMPOWERING THE ECONOMY 2.07.00:Create a business-friendly environment that supports and expands existing business opportunities by developing a diverse and qualified workforce through educational partnerships. Centuries Plaza will include a business incubator called the GreenHouse that will provide support services for small local businesses including training for fundraising, project management, human resources, and other business management skills—as well as office, retail, greenhouse, and kitchen space. By bringing entrepreneurs together we will increase buying power and efficiencies and create networking opportunities to connect new businesses to existing businesses in the community. 3.06.0213:Encourage and support mixed-use areas that provide the benefits of being able to live,shop,dine,play,and work in close proximity,thereby reducing vehicle trips,and enhancing overall livability and sustainability. Centuries Plaza will create a balanced ecosystem by combining housing with services that are necessary near home, such as childcare, healthcare, business services,and education.We also will support complimentary commercial tenants, such as fresh food markets, local restaurants,and other local small businesses.We aim to work with local agencies to improve transportation options when needs aren't met within walking distance. 30 GR W grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNIULS,ING P Page 64 �: K 40. iol ON 9 J WA Guiding Principles A HUB OF ACTIVITY, EDUCATION, AND COMMUNITY 2.09.03:Cultivate unique and diverse destination-type activities within 4 Meridian's centers. i f 2.09.03C:Support public-private partnerships that provide plazas and public areas within activity centers. The vibrant center of Centuries Plaza will be a gathering place for , cultural events,food festivals, art performances—or just lunch with friends.The Community Center Lobby will boast a rotating gallery featuring Idaho artists.The rooftop of the community center will house a large public greenhouse with classroom space, demonstration gardens, and a community garden space. 4.03.01A:Explore opportunities for additional indoor recreation space through partnerships,agreements,and the construction of a new Community Center. 4.03.01 E:Support symbiotic uses of facilities through programs that encourage community interactions. We envision the efficient use of a new Community Center space with sliding wall designs for extensive programs and public use, as well as a variety of indoor and outdoor spaces of all sizes, and both fixed outdoor seating and an open and flexible plaza.We are thrilled to have the chance to be a partner in providing community services to the people of Meridian.We believe we can create some amazing programs together. 4.07.01 C:Partner with other entities to expand opportunities for energy conservation outreach and education,such as schools,utility providers,and other public places. The nonprofit that will run our ongoing programs will work with Parks and Recreation, local schools, and other local nonprofits to create educational programs—especially around sustainable agriculture, renewable energy, and regenerative design. Learning to grow, harvest, prepare, and preserve your own food is a powerful health and wellness lesson.All educational facilities will be fully accessible,and we plan to develop a breadth of resources, programs, and classes based on the needs and desires of the 410 community. �syP' 5.01.01 C:Provide,partner,and preserve public and private indoor and outdoor recreation amenities for a diverse range of physical activities. 5.01.01 D:Plan for and encourage neighborhoods that provide reasonable pedestrian and bicycle access to services like healthcare,daycare,grocery stores,and recreational areas. 31 GR dW grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P Page 65 40. Item#1. EX Guiding Principles 4.04.03:Facilitate accessibility of pathway system for people of all abilities,pedestrians,bicyclists,and other non-motorized pathway users. Our indoor and outdoor recreation facilities will provide for a diverse range of physical activities, and the entire grounds—all pathways,gardens, and amenities—will be walkable, bikeable,and wheelchair accessible for residents and community members alike. 5.04.01 D:Identify opportunities to partner with existing organizations and businesses to make their facilities available for civic and cultural purposes. This is at the very heart of our project—we will make the most efficient use of the facilities at Centuries Plaza to serve the citizens of Meridian. 2.07.02C:Encourage developers to engage with the public early in the development proposal process. We look forward to engaging with the community and getting their input.We can't wait to learn more from the people of Meridian. SUSTAINABLE AT THE CORE 4.07.01 B:Support construction projects that demonstrate an innovative and effective approach to stormwater management and Low Impact Development. 4.07.01 D Seek opportunities for public-private partnerships to develop and showcase alternative electricity-generating facilities or to enhance the capacity and reliability of renewable energy resources. 4.07.01 G:Partner with regional stakeholders to increase public awareness of the benefits of sustainable design and constructing high-performance built environments. 4.07.01 H:Collaborate with stakeholders to develop demonstration projects incorporating water and energy conservation; and energy efficient construction methods and materials. 4.09.0313 Reduce reliance on City potable water for landscape irrigation purposes by educating the public,encouraging the use of recycled water,and adoption of water conserving landscape guidelines. Centuries Plaza will be built with permeable hardscapes and green rooftops—and incorporate a greywater recycling program for irrigation. Our project maximizes solar power generation on a variety of surfaces and we plan an adaptable approach to all available renewable energy sources. A 3.09.01C:Develop and implement public education and outreach activities to raise awareness on waste reduction,reuse,recycling, and hazardous waste reduction. — The infrastructure for composting and recycling will be integrated into the development of Centuries Plaza and include receptacles in public spaces and a full education program for tenants, residents,and the community at large that will encourage the use of compostable packaging and reusable items. 32 GR W grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNIULS,wc. P Page 66 �: K 40. iol ON 9 J WA Guiding Principles 4.07.01 E:Build public facilities that utilize energy conservation technologies. 4.07.01 I:Integrate new technologies and advancements in building science to promote a whole-building approach to sustainability.Recognize performance in five key areas of human and environmental health:sustainable site development, water savings,energy efficiency,materials selection,and indoor environmental quality. 4.09.03C:Maintain a public outreach program on water conservation. The Community Center and the whole of Centuries Plaza will be a demonstration project for energy and water conservation technologies, human and environmental health, sustainable development,and indoor environmental quality with educational opportunities and multi-sensory demonstration vignettes throughout the development. 4.06.01 B:Promote transportation choices,facilities,and alternatives such as car and van pooling,public transit,alternative fleet vehicles,bicycle racks/storage and telecommuting. 6.01.04:Encourage new and alternative transportation systems that reflect changes in technology and lifestyles. 6.01.04E:Integrate new technologies(e.g.,connected and automated vehicle technology,micro-mobility options)to increase efficiency,safety,and opportunities of transportation users. We plan to maintain an alternative transportation hub with a secure bike barn and accessible workshop and options such as an electric vehicle fleet providing ride share and delivery services to residential and business tenants.The underground parking garage will be built to accommodate charging stations in a full quarter of parking spots,with the infrastructure to expand that to 100%of the lot. EMBRACING THE ARTS 4.03.02:Add destination park amenities that uniquely blend arts,entertainment, , . and culture. a 5.02.00:Celebrate Meridian's historical,cultural,and agricultural heritage. 5.03.00:Create opportunities for all Meridian residents and visitors to experience public art. 5.03.01 A: Exhibit both permanent and rotating works of art in City Hall and other public places. 5.03.01 B Encourage the integration of public art as an integrated component with new development. 5.03.01 D Provide local artists with opportunities to showcase their work. Centuries Plaza will house an outdoor amphitheater for concerts and community events, as well as a collaborative and place-based approach to public art that celebrates the community.We plan a public art gallery of rotating Idaho artists curated by the community in the lobby of the Community Center. 5.04.00:Support hands-on experiences in the arts. 5.04.01:Provide a diversity of education and art experiences for all residents. 5.04.01 B Strengthen partnerships with community organizations,schools,and institutions to support and encourage arts programs and education for adults and seniors. 5.04.01C Sponsor a variety of musical and performing arts in partnership with community organizations. We plan to create a community art program for all ages and ability levels that includes art therapy and adaptive art skills.An inability to pay will never be a barrier to entry for any program produced by Global Regenerative ZerO Waste Communities.A sliding fee scale and grant subsidies will be the standard, not the exception. 33 GR W grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIes,INC. P Page 67 40. E. � .{ t Item#1. ' EX Guiding Principles THE FINER POINTS In the interest of clarity,we have included some specific ways Century Plaza will address the requirements in the MDC's request for proposals. C.Preferred projects should feature a mixed-use development with active street level uses that will bring visitors to the area,service downtown residents and workers,and contribute to the vitality of Downtown Meridian. Centuries Plaza is a state-of-the-art project featuring public gathering spaces such as an outdoor amphitheater, an open plaza, a rooftop garden, a community kitchen, and a variety of indoor and outdoor Community Center spaces. Residents will have private space and communal space that is reserved for residents only.And the public will be drawn to the art,food, and entertainment of Centuries Plaza. D.Projects must be a minimum of 35 feet in height.The City,at the time of this publication,is currently undergoing the public hearing process to consider an increase in the maximum height in the Old Town core from 75 feet to 100 feet in order to maximize development.A greater maximum height may be considered through a Conditional Use Permit process. This process is expected to be finalized in Summer 2021. The current design tops out at 75 feet including the occupiable rooftop space. Our design could add two floors of residential to the full design with enough parking to support it,should the maximum height in the Old Town core increase to 100 feet. E.Off-street parking for all proposed uses should be included,either on the Subject Property or on adjacent or nearby sites. Respondents will be expected to have approvals for off-street parking at secondary locations in place before the Subject Property will be transferred for development. Our project will include a below-grade puzzle structure CityLift mechanical parking system for residents and employees, as well as 21 underground visitor spaces and 10 surface EV charging spots.The subterranean parking system is built to accommodate the evolution of transportation in the future,with infrastructure to expand electric vehicle charging ability to 100%of the parking area. It can even to be completely reallocated to non-parking use, thanks to its design and the near elimination of concrete ramping. • ..r .Y \. 2 ti. .t M •tee . !+ ' I ~ ? 34 GR W grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIes,ING P Page 68 �: K 40. iol ON 9 J WA Guiding Principles H.To the extent possible,the Parties will support the vacation of the eastern half of the public alley.The proposed project must include one-way vehicular access from East 2nd Street,with an exit south to Broadway Avenue,and adequate access for deliveries and trash enclosures to serve the unBound and COMPASS/VRT buildings. Vehicular ingress/egress from 2nd to Broadway is included for drop off and deliveries.We propose moving trash and recycling service to the exterior of the project for everyone on the block.We will increase recycling infrastructure on- site and create a compost program in partnership with COMPASS,VRT, UnBound and all tenants of Centuries Plaza. We propose a centralized delivery area to move vehicular traffic away from the major pedestrian path on 2nd Street. Moving the trash and recycling receptacles will have the added benefit of reducing noise and odor. J.MDC seeks a Respondent willing to accept the Subject Property"as-is"and will consider proposals for a public-private partnership regarding portions of public improvements necessary for the development. We are happy to work through the minute details with the City and MDC to create a place where the citizens of Meridian can gather, learn, shop,work, eat, explore, play, and live. K.The Parks and Recreation Department has outlined the general programming needs for a Community Center along with approximate space sizes for its uses.Respondents who choose to include a Community Center can propose a stand-alone facility or an incorporated(possibly condominiumized)facility in a larger mixed-use development. We look forward to working side by side with the Meridian Parks and Recreation Department to create a space that is efficient and fulfills all the needs of the community.We will work with them to extend access to the existing building as long as possible.We have also taken the programming requests and integrated each of them into our design as well as expanding them slightly to include a daycare center, a full commercial kitchen with classroom space,an outdoor amphitheater,year-round community gardens, and cooperative retail space for start-up companies supported by the GreenHouse Incubator. dAL i ti r e L JM 35 GR W grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNIULS,wc. P Page 69 ..a�: ;.•:ram.. _ 1 .. �_�.r�. .� S`Y' ..Y i �ri�;l:'�.;. 'j'+F" Item#1. a .° � � I r".• - ��i - � t.l..•.r - K:.GL1. I -- - - - .M. 1..—._. 2022 2023 PHASE Q3 Q4 QI Q2 Q3 Q4 Q1 Q2 Q3 Q4 RFP Submittal-August24,2021 Selection as Developer-Octobet2021 Finalize terms and partnerships-❑ecemher1021 Design,Engineeringand Permitting Construction Marketing,Sales and Lease-up Move-In r ' 1 t Global Regenerative ZerO Waste "We Build Communities " Communities, Inc. e wim�m vnu aenn 36 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. qw Item#1. ' I a As the proformas illustrate on the following pages, each of the three projects are designed and funded separate from each other. Developer is also seeking grants and public-private partners for various aspects of the construction and operations (see Funding and Programming Partners below).The following summarizes how each project will be funded (see the Sources&Uses tables for details): PROJECT A: COMMUNITY CENTER/APARTMENTS/ COMMERCIAL RENTAL ($23.9M DEVELOPMENT COST): •With the entirety of the$3.8M from the Parks and Recreation Department plus one-third of the appraised value of the land devoted to this project,we anticipate and have budgeted for the remainder of the development budget to be funded through a construction loan (using the equity in the Parks and Recreation funding and land value as sufficient equity to secure a 75% LTV loan). PROJECT B: PARKING GARAGE/ SOLAR ($IZ2M DEVELOPMENT COST): •This project will be funded using Opportunity Zone (OZ)funding.A third of the equity of the land value is also factored in to the proforma for this. Federal tax credits for solar will come back to this project as well. Both the garage parking revenue and the monthly utility revenue for the solar(coming from the on-site users) will be sufficient to maintain this asset for the required OZ timeline and payoff ongoing outstanding debt. PROJECT C: CONDOMINIUM (RESIDENTIAL AND COMMERCIAL - $16.9M DEVELOPMENT COST): •This project will be funded with a construction loan and a CDFI gap financing loan. A third of the equity of the land value is factored in to the proforma for this.These will be paid off with sales of both the residential and commercial units. ADDITIONAL FINANCING NOTES: •We are requesting the land be sold at$1 for the entire site, and that MDC pay any taxes on property until all buildings are nearly leased up or sold. •We are requesting waiving permitting and impact fees for all aspects of the project. •At this time,we are not requesting TIF reimbursement for qualified infrastructure improvements but would like to keep this financing tool on the table during final discussions and negotiations. •Term Sheets and Letters of Intent. We have decided to not seek term sheets or letters of intent from financial institutions at this time. If selected for an interview,we will demonstrate this support at the interview.We have verbal commitments from banks and investors at this time, but all wish to wait to submit terms and commitments based on more realistic/refined costs. 37 GR W grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNITILS,INC. P Page 71 I1 _ Item#1. •> � _ ' 1 • 1W 1 • • . LCSG and our nonprofit partner Global Regenerative Zero Waste Communities, Inc are positioned to leverage public and private partners and funding sources to build a long-lasting, sustainable,and vibrant suite of services and programs to serve Centuries Plaza and its Downtown Meridian community. The project is perfectly timed to take advantage of the$1 billion American Rescue Plan Act Build Back Better Regional Challenge,which will provide 20 to 30 projects across the country designed to relaunch local economies after the pandemic. Plus,we have identified some 60 potential partners engaged in the seven key areas of the ongoing programs plan for Centuries Plaza—most in areas you will recognize from the city s Strategic Plan. Our early work suggests that between start-up funds and ongoing commitments, these programs could attract more than $2 million in total programmatic grants. EDUCATION $279,500 •Community Education • Energy Conservation Education •Water Conservation Education • Sustainable Development ! Education .rt • Horticulture Education p • Environmental Education r�. 38 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 72 ,ikA TRANSPORTATION AND ACCESSIBILITY owl •ADA Accessible Buildings •AD, Accessible r • Advanced Parking Systems Transportation•Alternative -- - a Alternate• .• •n Transportation i HEALTH COMMUNITY RE k$743, _ k I I I Access• Childcare ■F Access• Healthcare r_ • ••. Security and Access •Year-Round Food Production 40 POTENTIAL FUNDING PARTNERS EDUCATION E2 Energy to Educate •Clean Water State Revolving Fund •ITC Holdings•Kettering Family Foundation Rocky Mountain Power •Gladys Brooks Foundation •Bill Graham Foundation William E Dean 111 Charitable Foundation •Robert W Knox,Sr.And Pearl Wallis Knox Charitable Foundation RRF Foundation for Aging•Edward N.&Della Thorne Memorial Foundation TRANSPORTATION AND ACCESSIBILITY US Department of Energy •Federal Transit Administration First Interstate Bank Exelon Local Grants •Partnership with Valley Regional Transit COMMUNITY HEALTH 0 000 Community• •- • Recreational Programming r � • Business Incubator • Stormwater and Waste Stream Management •� rr FAW ARTS AND CULTURE ro $62 i i Education,000 •Arts and Public Experiencesr • Music . •- Local••Gallery - Space• Public Art Installations •, ' ,r•, F . r hh • POTENTIAL FUNDING PARTNERS HEALTH AND COMMUNITY CARE Trico POWER Grant•Union Pacific Building America•Together Women Rise Robert Wood Johnson Foundation•Cigna Foundation•Blue Cross of Idaho Foundation RRF Foundation for Aging•Sodexo Stop Hunger Foundation•Whole Kids Foundation Cliff Family Foundation•Home Instead Senior Care Foundation:GIVE 65 COMMUNITY HEALTH Union Pacific Building America•Umpqua Bank Charitable Foundation Home Depot Community Impact Grant•KidsGardening.org•Cliff Family Foundation Project Learning Tree•Whole Kids Foundation•Partnerships with local greenhouses and garden stores Partnership with Meridian Parks and Recreation 40 v s Vr POTENTIAL FUNDING PARTNERS ARTS AND CULTURE Idaho Commission on the Arts•Andy Warhol Foundation for the Visual Arts •Bill Graham Foundation National Endowment for the Arts •National Endowment for the Humanities•Sparkplug•Trico POWER Grant Zions Bank Charitable Giving Rocky Mountain Power•Exelon Local Grants •Kettering Family Foundation RENEWABLE ENERGY RaiseGreen•Clean Water State Revolving Fund Rocky Mountain Power •Packard Foundation Duke Energy Foundation•Entergy •WaterSMART Grant OUTDOOR SPACES Home Depot Community Impact Grants•Umpqua Bank Charitable Foundation First Interstate Bank Exelon Local Grants•Zions Bank Charitable Giving•Entergy•Sparkplug Max and Victoria Dreyfus Foundation•Partnership with ACHD �_ ., •.ter.,,.. � � I Item#1. I 4,: 1 oil ML I On the following pages:Our team continues to secure support from potential partners in our community collaboration efforts, and you can see two of the letters of support for our project here.We look forward to sharing I Namishlrt9 New Brglnning� August 17,2n21 Lisa Clark Founder/president Grow Communities,Inc. Dear Lisa, arding a future Partnership with Life's Kitchen a Thank you far contacting me reg d for Centuries the ItFF for Meridian City.The creative plbpasat you have developed au are proposing has character and a well thought Out for plaza is amazing!The space y space for mixed-use development.The community center would become a spa People to live,work and recreate. This will serve as a letter of interest that Life's K s in support of and would Kitchen i welcome future discussions rcgarding the Centuries Plaza protect. Again,thank you for thinking about Ltfe's Kitchen in this very important future project. Regards, f Tammy Johnson Executive Director p•p•g�,a 95b32 18oisc,f0 83711 I tc!t2p81331.0199 I fax(208)331.0181 I www.liflskitCh en•oY$ 42 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 76 Saint Alphonsus Health System August 16,2021 Dear City of Meridian Review Committee Members: Saint Alphonsus Health System(BARS)is deeply on behalf of the patients and communitiesp y committed to addressin g the social Alphonsusftherecentlypatients p we serve across southern Idaho and eastern Oregon. of health Count completed a 2020 Community Health Needs Assessment,which included y that identified safe,affordable housingg n•Saint the region.Additionally,safe, a stood u and homelessness as the to Ada address the basic needs of p a Social Care Hub in March 2020 to better lufnders and acant health nd in Pandemic.Since it's ins patients,colleagues,and community members duringd rental assistance,and p requested need for referral has been houinhe COVID-19 help searching for housing as individuals and families are rapidly from their existing homes.As such,SAHS has been committingg assistance-both funding and data collection to the advancement of safe,affordable housingp y being displaced r resources terms of staffing resources, system footprint. developments across our Saint Alphonsus is pleased to offer our Su development is a pport for the Grow Co mission-match for SAHS in that it provides a sustainable to single-fa homes for Meridian residents in need of proposal.This Additionally, because of its inclusion of onsite telehealth,early childhoodmily mixed-income and mixed-use development programming,health education,and other critical co pment solutions. Communities, Inc proposal education and after school p posal is well- community services,SAHS believes that the Grow Will be happy to explore positioned it meet the health and social needs of its residents and selected. partnership opportunities with Grow Communities, Inc should this proposal be It cannot be understated that Meridian,experiencing a understated shortage Ada County,and the Treasure Valle re development of affordable and mixed-income housing pment will not onlyy region-at large was meet the need established well before he angeroVID.The proposed the community in its recovery. pandemic but will serve to assist Thank you for your consideration. Sincerely, Ze.-c4ca,Lem~. , Rebecca Lemmons,MHS Director,Community Health&Well-Being Saint Alphonsus Health System(Idaho-Oregon �3 GR� grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P Page 77 I I I Item#1. :7 I _ �,. 40 Od ij i - rrrr MERIDIAN Centennial Plaza will consist of three (3) projects: I. Community Center/Multifamily/Commercial—This is entirely a rental project II. Parking Garage—This is entirely a rental project III. Residential and Commercial Condominiums—This will all be sold and Developer will have zero ownership upon final sale H. PROJECT VALUATION - The following is based on the market value of the land ($2.2M) spread over the following three projects plus the overall Cost of The Community Center/Rental Project, plus the overall Cost of the Garage plus the Sales of the Condominiums.The combined valuation of these three assets will be approximately$63M by 2023. a. Community Center/Apartments/Commercial—The total cost of construction is$23.9M. The taxable value would be approximately$24M(including the Community Center since they would be paying rent and not owning the building). b. Parking Garage—The total cost of construction is$17.2M. The taxable value would be approximately$19M. c. Condominiums—The total cost of construction is$16.9M.The total Sales is approximately $18M. Taxable value would be approximately$20M. 44 GR W grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIes,wc. P Page 78 i I4 G Il I f i f Item#1. — :I iff 'i 5Y• .�, � �+fad.-�' �F %�. x'J I. PROJECT PROFORMA Development Budgets and Sources& Uses tables for each of the three projects are found on the next few pages. • Offering price for Subject Property i. Developer proposes a $1 sales price for the entire site, subject to claw back provisions by the MDC should development not fulfill proposed buildout plan. ii. MDC would pay taxes on the property until all three projects have received certificate of occupancy and leases and sales are at least 75%complete. Development Budgets and Sources and Uses for or each of these three projects are on the following pages. 45 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 79 EMPIROJECT P?1DWROM47 I _ Centuries Plaza Apartments Meridian,Idaho SCENARIO*:Commerdal/Apartment Rentals (including Community Center-pace) Tota Item Cos: Acquisition Purchase Price $ 1 Transfer Tax $ 0 Recordation Tax $ 0 Legal Fees $ - Due Diligence $ - Title Insurance $ - Brokers Commission $ 0 Total Acquisition Costs $ 1 Hard Costs(Construction) Building Costs $ 18,834,000 Contingency $ 1,883,400 Total Hard Costs $ 20,717,400 Soft Costs(Construction) Tenant Allowance $ 100 Architectural/MEP Fees $ 300,000 Engineering Consultant Fees $ 100,000 Development Fees/Bonds $ 10,000 Legal-Construction $ 75,000 Legal-Leasing $ 25,000 Legal-Land Use $ 25,000 Initial Leasing Commissions $ 5,794 Insurance(during construction) $ 100,000 Property Taxes During Construction $ 100,000 Contingency $ 37.045 Total Soft Costs $ 777,938 Site Costs(Hard/Soft) site Costs $ 403,860 Courtyard $ 1,202,550 Contingency $ 80,321 Total site Costs $ 1,686,731 Finandng Costs Appraisal $ 5,000 Legal-Loan $ 10,000 Interest on Construction Loan $ - Points(construction loan) $ 95,570 Points(seller financing/permanent loan) $ - Contingency $ 5,529 Total Finandng Costs $ 116,099 Development Fee $ 695,462.07 **Total Acquisition&Development Costs** $ 23,941,532 46 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. Page 80 u I i � r Centuries Plaza Apartments Meridian,Idaho SCENARIO#: Parking Garage and Solar Total Item cost Acquisition Purchase Price 1 Transfer Tax 0 Recordation Tax 0 Legal Fees - Due Diligence - Title Insurance - Brokers Commission D Total Acquisition Costs 1 Hard Costs(Construction) - Building Costs-$200Jsf $ 12,731,200 Contingency $ 1,273,120 Total Hard Costs $ 14,004,320 Soft Costs(Construction) - Tenant Allowance $ 100 Architectural/MEP Fees $ 300,000 Engineering Consultant Fees $ 100,000 Development Fees/Bonds $ 10,000 Legal-Construction $ 75,000 Legal-Leasing $ 25,000 Legal-Land Use $ 25,000 Initial Leasing Commissions $ 7,680 Insurance(during construction) $ 100,000 Property Taxes During Construction $ 100,000 Contingency $ 37,139 Total Soft Costs $ 779,919 Site Costs(Hard/Soft) site costs $ 403,860 Courtyard $ 1,202,550 Contingency $ 80,321 Total Site Costs $ 1,686,731 Financing Costs - Appraisal $ 5,000 Legal-Loan $ 10,000 Interest on Construction Loan $ - Points(construction loan) $ 67,920 Points(seller financing/permanent loan) $ - Contingency $ 4,146 Total Financing Costs $ 87,066 Development Fee $ 494,129.09 **Total Acquisition&Development Costs** $ 17,076,464 47 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P Page 81 MPIROJECT P?VFORT7.� � Centennial plaza- Meridian Meridian, CONDOMINIUMS AC ULSITION&DEVELOPMENT COSTS Total Item Cost Acquisition Purchase Price $5,000 Transfer Tax $750 Recordation Tax $500 Legal Fees $- Due Diligence $- Title Insurance $- Brokers Commission $300 Total Acquisition Costs $6,550 Hard Costs{Construction] Construction Cost-Residential-45,000 sf $9,450,000 Construction Cost-Commercial-4300 sf $817,000 Construction Cost-Other-15,000 sf $2,475,000 Contingency-10%of hard costs $1,274,200 Total Hard Costs $14,016,200 Soft Costs(Construction) Arc h itectura I/ME P Fees $175,000 MEP $40,000 Engineering Consultant Fees $125,000 Structural Engineer $50,000 Landscape Architect $50,000 Permit 1 Impact Fees(waived) $0 Pre-construction Advising $40,000 Legal-Construction $25,000 Legal-Condo dots $25,000 Legal-Contract $15,000 Insurance{during construction} $25,000 Property Taxes During Construction-own land upon C.O. $0 Contingency $50,000 Total Soft Costs $620,000 Site Costs(Hard/Soft) . Site Costs _ $134,620 Courtyard $400,850 Contingency $50,000 Total site Costs $1,686,731 Pinancing Costs Appraisal-as built $5,000 Legal-Loan $10,000 Interest on CDF[Fund $64,000 Contingency-2%of all costs $360,000 Total Financing Costs $439,000 Development Fee-3% $439,086 "Total Acquisition&Development Costs" $16,768,567 48 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. Page 82 o I111111111111004i Wil ft. Item#1. "?OJECT PI?0FORT nAL—m - b. Sources and Uses Table - With Detailed Costs Each of the three projects has a separate financing and ownership strategy. The Sources&Uses tables below detail how each of these three projects will be financed.The Financial Capacity section above also describes important elements of our financial assumptions and strategies. Centuries Plaza-Sources and Uses for Rental Project Uses Construction Acquisition $ 1 constructionlsitie $ 22,404,131 Professional Fees $ 777,938 Soft and Carrying Ce 1191moarage and solar Project Casts $ 353,105 Developer Fee $ 347,731 Uses TOTAL $ 23,892,906 Construction Acquisition $ 1 CanstructioWSite $ 15,691,051 Sources Phase of Project Professional Fees $ 866,985 Soft and Carrying Costs $ 439,000 Construction Develc4)er Fee $ 247,065- TOTALI $ 17,244,101 Grants $ 976,000 Equity(Parks Dept) $ 3,800,000 Sources Phase of Project Construction ('nnstrurtion Financing $ 19,106,324 Grants $ 88,605 Equity(DZ and other) $ 3,361,ODD Construction Financing $ 13,796,281 TOTAL $ 2302,324 TOTALI $ 17,244,8t38 W-) $ 591 I.+1-) $ (785) Centuries Plaza-Sources and Uses for Condo Proiect Uses {iQ+75 hi.IG60n Acquisition coils UuclionlSite $ 15,702.931 Professional Fees $ 620,000 Solt and Carrying Costs $ 439.000 Developer Foe $ 210,543 TOTALI$ 16 M 024 Sources Phase of Project Construction Grants $ 8R,FAT'i CDFI Fund $ 3,200.000 Construction Financing $ 13,590.419 Home Buyer- Net Proceeds $ 1 UUM0 Realtor Fees 5%Deducted Commercial Sales-Net Proceeds $ 9,000 Realto,ke55%DM cted TOTAL $ 16 8$8 024 {+11 $ (0) 49 GR W grew communities LCSG Development, LLC Pegasus Planning and Development coMMunnies.wc. P Page 83 MPI?0JECT P?,,OFOI?kTL I _ c. Project income - Proposed rents and/or sales prices. See below for details on Project Income for each project and the relative lease rates and sales prices that were used in the proformas. i. Commercial Rents (including Community Center): $19/sf ii. Apartment Rents : $1.1 -0.6/sf iii. Garage Spaces : $100-200/mo (depending on owner,tenant or visitor) iv. Residential Condo sales price-$400/sf v. Commercial Condo sales (white box finish) price-$350/sf d. Infrastructure for which reimbursement is requested - Items and estimated costs i. At this time, no infrastructure reimbursement is requested. Yet, Developer is requesting permit and fee waivers in addition to any connection fees for water and wastewater also waived. ii. In addition, Developer requests closing on the sale of the land within 3 months of C.O. of each building. During this time, Owner(MDC) will pay all taxes on properties. J. PROJECTED THREE- AND FIVE-YEAR OPERATING STATEMENT As discussed earlier in this proposal, Centennial Plaza will consist of three (3) projects two rental and one condo/ owner building: I. Community Center/Multifamily/Commercial—This is entirely a rental project II. Parking Garage—This is entirely a rental project III. Residential and Commercial Condominiums—This will all be sold and Developer will have zero interest upon final sale Project I&II will be retained by Developer and operating statements are found below: Global Regenerative ZerO Waste "We Build Communities " Communities, Inc. 50 GR W grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIrs,INC. P Page 84 Item#1 , J B ► � r� Centuries Plaza Apartments Meridian,Idaho SCENARIO#:Commercial/Apartment Rentals(including Community Center Space) CASH FLOW ANALYSIS Year Year Year Year Year Year 0 1 2 3 4 5 Transaction Costs Acquisition Casts $ (1) Hard/Soft Costs 23 941 531 Sales Price in Yr 10 Less:Transaction costs in Yr 10 Historic Tax Credits - Total Transaction Costs $ (23,941,532) $ - $ Gross Rental Income Apartments $ 884,198 $ 901,882 $ 919,920 $ 938,318 $ 957,085 Retail/Office $ 356,625 $ 367,324 $ 378,343 $ 389,694 $ 401MS Total Gross Rental Income $ 1,240,823 $ 1,269,206 $ 1,298,263 $ 1,328,012 $ 1,358,469 Less:Adjustments to GRI Apartment-Vacancy/Bad Debt $ (44,210) $ (45,094) $ (45,996) $ (46,916) $ (47,854) Apt-Model and Employee Units/Rent Concessions $ 21,566 $ 21,997 $ 22,437 $ 22,886 $ 23,344 Retail/Office- Vacancy $ - $ - $ - $ - $ - Total Adjustments to GRI $ (22,644) $ (23,097) $ (23,559) $ (24,030) $ (24,511) Net Rental Income $ 1,218,179 $ 1,246,109 $ 1,274,705 $ 1,303,982 $ 1,333,959 Apartment Other Income $ - $ - $ - $ - $ - Retail/Office Other Income: Recoveries(CAM,RE Taxes,Mgmt Fee) $ - $ - $ - $ - $ - Other $ 356,625 $ 367,324 $ 378,343 $ 389,694 $ 401,385 Total Retail/Office Other Income: $ 356,625 $ 367,324 $ 378,343 $ 389,694 $ 40IMS Total Income $ 1,574,804 $ 1,613,433 $ 1,653,048 $ 1,693,676 $ 1,735,343 Operating Expenses Apartment Operating Expenses $ 325,392 $ 325,392 $ 325,392 $ 325,392 $ 325,392 Retail/Office Operating Expenses $ 45,173 $ 46,254 $ 47,363 $ 48,499 $ 49,664 Total Operating Expenses $ 370,564 $ 371,646 $ 372,755 $ 373,891 $ 375,056 Net Operating Income $ 1,204,240 $ 1,241,787 $ 1,280,293 $ 1,319,785 $ 1,360,287 Reserves Apartment Reserves $ 3,271 $ 3,271 $ 3,271 $ 3,271 $ 3,271 Retail/Office Reserves $ 3,566 $ 3,638 $ 3,710 $ 3,785 $ 3,860 Total Reserves $ 6,837 $ 6,909 $ 6,981 $ 7,056 $ 7,131 Pretax Cash Flow Before Financing $ (23,941,532) $ 1,197,403 $ 1,234,876 $ 1,273,312 $ 11312,729 $ 1,353,156 Return on Investment L Cad Rate---> 5.0%: 5.2% 5.3% 5.5% 5.7% ----------------- Intemal Rate of Return(IRR) 3.9% NPV Calculations @ Fallowing Rates-a?. 6.0% 7.0% 8.0% Net Present Value $ (3,221,577) $ (4,521,194) $ (5,680,298) Fiina ncing Proceeds from Seller Finandng $ - Proceeds from Permanent Loan $ 19,153,226 Seller Financing Debt Service $ (5,000) $ $ - $ - $ - Permanent Loan Debt Service $ (1,097,285) $ (1,097,285) $ (1,097,285) $(1,097,285) $ (1,097,285) Loan Balance in Yr 10 Pretax Cash Flow After Financing $ (4,788,306) $ 95,118 $ 137,593 $ 176,027 $ 215,444 $ 255,871 51 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. Page 85 Item#1. Ilk Respondent accepts and agrees with all the terms and provisions of the RFP and any addendum(s)and specifically acknowledges receipt of the following addendum, if any, to the Request for Proposals which addendum have been considered by Respondent in submitting this proposal (if none,state`NONE"): Addendum No. 1 �,Imo: Addendum No.2 Addendum No.3 Addendum No.a Submitted by: RESPONDENTS BUSINESS NAME(type or print) 7 ri De V /e- By: Q.t (Signature in ink) Date:S Q 1 Name: L .lSf1 /C Ll�lrlL (Print) Title: Bus.Address: �J� 5- tyl 1[ QU P�71 t✓. ! 3 7 d Phone: Email: r s�.� r�ua. �► Note: If Respondent is a corporation, give state of incorporation. If a partnership or joint venture, give full names of all joint venture partners andlor other partners. ,Se-an C,-oTrj,. LK� Respondent declares under penalty of perjury that the foregoing is true and correct. 52 GROW grew communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. Page 86 At ® I F Empowered lives. - L�-tJ U N D P 1 NO � ZERO 3 GOOD HEALTH POVERTY HU(NG(ER( ANOWELL-BEING nations- SUSTAINABLE G , 4 EDUCATION 5 EQUALTY U ANOASANATATRON DEVELOPMENT • lla 1U NEQUALITIES 11 ANDTCOMMUNITIES Im 13 ACTIONS 14 WATERLOW 15 ON LAND Y 1 PEACE.JUSTICEANO PARTNERSHIPS STRGNGINGTITNTIUNS 17 FOR THE GOALS COMMUNITIES, ,r � 1 I POVERTY IN 2000,189 COUNTRIES OF THE WORLD CAME TOGETHER TO FACE THE FUTURE. And what they saw was daunting.Famines.Drought.Wars.Plagues.Poverty. END POVERTY IN ALL ITS FORMS EVERYWHEREThe perennial problems ofthe world.Notjust in some faraway place,but in their own cities and towns and villages. End extreme poverty in all forms by 2030.Yes,it's an ambitious goal— They knew things didn't have to be this way.They knew we had enough food but we believe it can be done.In 2000,the world committed to cutting to feed the world,but that it wasn't getting shared.They knew there were the number of people living in extreme poverty by half in 15 years and medicines for HIV and other diseases,but that they cost a Iot.They knew that earthquakes and floods were inevitable,but that the high death tolls were not. we met this goal.However,more than 800 million people around the world still live on less than$1.25 a day—that's about the equivalent They also knew that billions of people worldwide shared their hope for a better of the entire population of Europe living in extreme poverty.Now it's future. time to build on what we learned and end poverty altogether. So leaders from these countries created a plan called the Millennium Develop- ment Goals(MDGs).This set of 8 goals imagined a future just 15 years offthat would be rid of poverty and hunger.It was an ambitious plan. The United Nations Development Programme(UNDP)has been one of the leading organizations working to achieve the MDGs.Present in more than 170 countries and territories,we funded projects that helped fulfil the Goals. We championed the Goals so that people everywhere would know how to do their part.And we acted as"scorekeeper;'helping countries track their progress. And the progress in those 15 years has been tremendous.Hunger has been cut in half.Extreme poverty is down nearly by half.More kids are going to school and fewer are dying. Now these countries want to build on the many successes of the past 15 years, and go further.The new set of goals,the Sustainable Development Goals(SDGs), aims to end poverty and hunger by 2030.World leaders,recognizing the con- nection between people and planet,have set goals for the land,the oceans and the waterways.The world is also better connected now than it was in 2000,and is building a consensus about the future we want. That future is one where everybody has enough food,and can work,and where living on less than$1.25 a day is a thing of the past. UNDP is proud to continue as a leader in this global movement. Introducing the new Sustainable Development Goals.What's your Goal? 54 CROW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. Page 88 14 ME Pk ZERO HUNGER END HUNGER,ACHIEVE FOOD SECURITY AND IMPROVED NUTRITION AND PROMOTE SUSTAINABLE AGRICULTURE In the past 20 years,hunger has dropped by almost half.Many coun- tries that used to suffer from famine and hunger can now meet the HEALTH nutritional needs of their most vulnerable people.It's an incredible I I 1 accomplishment.Now we can go further and end hunger and mal- nutrition once and for all.That means doing things such as promoting sustainable agriculture and supporting small farmers.It's a tall order. But for the sake of the nearly 1 out of every 9 people on earth who go to bed hungry every night,we've got to try.Imagine a world where everyone has access to sufficient and nutritious food all year round. Together,we can make that a reality by 2030. ENSURE HEALTHY LIVES AND PROMOTE WELL-BEING FOR ALL AT ALL AGES We all know how important it is to be in good health.Our health affects everything from how much we enjoy life to what work we can perform.That's why there's a Goal to make sure everyone has health coverage and access to safe and effective medicines and vaccines. Since 1990,we've made big strides—preventable child deaths are down by more than half,and maternal mortality is down by almost as much.And yet some other numbers remain tragically high,like the fact that every year 6 million children die before their fifth birthday,or that AIDS is the leading cause of death for adolescents in sub-Saharan Africa.We have the means to turn that around and make good health more than just a wish. 55 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P8 $9 L 1.� r ' ♦��' LA GENDER EQUALITY rr e PF ACHIEVE GENDER EQUALITY AND QUALITY EMPOWER ALL WOMEN AND GIRLS A EDUCATION The great progress the world has made in becoming more prosperous and fair is worth celebrating.And yet,in just about every way,women and girls lag behind.There are still gross inequalities in work and wages, lots of unpaid"women's work"such as child care and domestic work and discrimination in public decision-making.But there are grounds for hope.More girls are in school now compared to in 2000.Most regions have reached gender parity in primary education.The percentage of women getting paid for their work is on the rise.The Sustainable Devel- opment Goals aim to build on these achievements to ensure that there ENSURE INCLUSIVE AND EQUITABLE is an end to discrimination against women and girls everywhere.It's a QUALITY EDUCATION AND PROMOTE LIFE- basic human right. LONG LEARNING OPPORTUNITIES FOR ALL First,the bad news on education.Poverty,armed conflict and other emergencies keep many,many kids around the world out of school. In fact,in developing regions,kids from the poorest households are four times more likely to be out of school than those of the richest house- holds.Now for some good news.Since 2000,there has been enormous progress on the goal to provide primary education to all children world- wide.The primary school enrolment rate in developing regions reached 91%.By measures in any school,that's a good grade.Now,let's get an even better grade for all kids and achieve the goal of universal primary and secondary education, affordable vocational training,access to high- er education and more. 56 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 90 Syr• .. �. ti � ,r :. ¢�- �•--r �' - 'l+' - Item#1.• -�. _�• ��.� ,� �'- �� ��� - �1 � rib`/ 11 ..N4 — ��. ...�'' �� • • , � 01 PA*CLEAN WATER 1 I SANITATION • ENSURE AVAILABILITY AND SUSTAINABLE AFFORDABLE tIAi I MANAGEMENT OF WATER AND SANITATION In FOR ALL CLEAN ENERGY Everyone on earth should have access to safe and affordable drinking water.That's the goal for 2030.While many people around the world take clean drinking water and sanitation for granted,many others (', don't.Water scarcity affects more than 40 percent of people around �+ the world,and that number is projected to go even higher as a result of climate change.If we continue the path we're on,by 2050 at least one in four people are likely to be affected by recurring water short- ages.But we can take a new path—more international cooperation, ENSURE ACCESS TO AFFORDABLE, protecting wetlands and rivers,sharing water-treatment technologies RELIABLE,SUSTAINABLE AND MODERN and more—that leads to accomplishing this Goal. ENERGY FOR ALL Between 1990 and 2010,the number of people with access to elec- tricity increased by 1.7 billion.That's progress to be proud of And yet, as the world's population continues to rise,still more people will need cheap energy to light their homes and streets,use phones and com- puters and do their everyday business.The way we get that energy is at issue;fossil fuels and greenhouse gas emissions are making drastic changes in the climate,leading to big problems on every continent. Instead,we can become more energy-efficient and invest in clean energy sources such as solar and wind.That way we'll meet electricity needs and protect the environment.How's that for a balancing act? 57 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P8 9� r LA i MIL BUILD RESILIENT INFRASTRUCTURE, PROMOTE INCLUSIVE AND SUSTAINABLE INDUSTRIALIZATION AND FOSTER INNOVATION Technological progress helps us address big global challenges such as creating jobs and becoming more energy efficient.The world is becoming ever more interconnected and prosperous thanks to the internet.The more connected we are,the more we can all benefit from the wisdom and contributions of people everywhere on earth. And yet four billion people have no way of getting online,the vast majority of PROMOTE SUSTAINED, INCLUSIVE AND them in developing countries.The more we invest in innovation and SUSTAINABLE ECONOMIC GROWTH, FULL infrastructure,the better off we'll all be.Bridging the digital divide,pro- AND PRODUCTIVE EMPLOYMENT AND moting sustainable industries,and investing in scientific research and DECENT WORK FOR ALL innovation are all important ways to facilitate sustainable development. An important part of economic growth is that people have jobs that pay enough to support themselves and their families.The good news is that the middle class is growing worldwide—almost tripling in size in developing countries in the last 25 years,to more than a third of the population.But in 2015,we also have widening inequalities,and job growth is not keeping pace with the growing labour force—over 200 million people don't havejobs.That's the equivalent of the entire population of Brazil.Things don't have to be that way.We can promote policies that encourage entrepreneurship and job creation.We can eradicate forced labour,slavery and human trafficking.And in the end we can achieve the goal of decent work for all women and men by 2030. 58 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 92 Item#1. AaA 1 V4. 21mill FM k' I I I I REDUCE INEQUALITY WITHIN AND AMONG COUNTRIES ' It's an old story:the rich get richer,and the poor get poorer.The divide � I has never been starker.We can and must adopt policies that create opportunity for everyone,regardless of who they are or where they ■■ come from.Income inequality is a global problem that requires global solutions.That means improving the regulation offinancial markets and institutions,sending development aid where it is most needed ■■ �� �� and helping people migrate safely so they can pursue opportunities. We've made so much progress on poverty in the last 15 years,and now we can change the direction of the old story of inequality. MAKE CITIES AND HUMAN SETTLEMENTS INCLUSIVE,SAFE, RESILIENT AND SUSTAINABLE If you're like most people,you live in a city.More than half the world's population now lives in cities,and that figure will go to about two- thirds of humanity by the year 2050.Cities are getting bigger.In 1990 there were ten"mega-cities'with 10 million inhabitants or more.In 2014,there were 28 mega-cities,home to 453 million people.Incred- ible,huh?A lot of people love cities;they're centers of culture and business and Iife.The thing is,they're also often centers of extreme poverty.To make cities sustainable for all,we can create good,afford- able public housing.We can upgrade slum settlements.We can invest in public transport,create green spaces and get a broader range of people involved in urban planning decisions.That way,we can keep the things we love about cities and change the things we don't. 59 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P8 93 LA CLIMATE ACTION i � RESPONSIBLE TAKE URGENT ACTION TO COMBAT CLIMATE CHANGE AND ITS IMPACTS I 1 I Every country in the world is seeing the drastic effects of climate AND PRODUCTION III change,some more than others.On average,the annual losses just from earthquakes,tsunamis,tropical cyclones and flooding count in the hundreds of billions of dollars.We can reduce the loss of life and property by helping more vulnerable regions—such as land-locked countries and island states—become more resilient.The impact of global warming is getting worse.We're seeing more storms,more droughts and more extremes than ever before.It is still possible,with political will and technological measures,to limit the increase in global ENSURE SUSTAINABLE CONSUMPTION AND mean temperature to two degrees Celsius above pre-industrial lev- PRODUCTION PATTERNS els—and thus avoid the worst effects of climate change.The Sustain- Some people use a lot of stuff,and some people use very little—in able Development Goals lay out a way for countries to work together fact,a big share of the world population is consuming too little to to meet this urgent challenge. meet even their basic needs.It doesn't have to be this way.We can have a world where everybody gets what they need to survive and thrive.And we can consume in a way that preserves our natural resources so that our children can enjoy them,and their children and their children after that.The hard part is how to achieve that goal.We can manage our natural resources more efficiently and dispose of toxic waste better.Cut per capita food waste in half globally.Get businesses and consumers to reduce and recycle waste.And help countries that have typically not consumed a lot to move towards more responsible consumption patterns. 60 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 94 Item#1. A - 1 BELOWZIA aA I j j LIFE WATER CONSERVE AND SUSTAINABLY USE THE LIFE OCEANS,SEAS AND MARINE RESOURCLa FOR SUSTAINABLE DEVELOPMENT 5 ON LAND The oceans make human life possible.Their temperature,their chem- istry,their currents,their life forms.For one thing,more than 3 billion people depend on marine and coastal diversity for their livelihoods.But today we are seeing nearly a third of the world's fish stocks overexploit- ed.That's not a sustainable way of life.Even people who live nowhere near the ocean can't live without it.Oceans absorb about 30 percent of the carbon dioxide that humans produce;but we're producing more carbon dioxide than ever before and that makes the oceans more PROTECT,RESTORE AND PROMOTE acidic-26%more,since the start ofthe industrial revolution.Our trash doesn't help either-13,000 pieces of plastic litter on every square SUSTAINABLE USE OF TERRESTRIAL kilometer of ocean.Sounds bad,right?Don't despair!The Sustainable ECOSYSTEMS,SUSTAINABLY MANAGE Development Goals indicate targets for managing and protecting life FORESTS,COMBAT DESERTIFICATION,AND below water. HALT AND REVERSE LAND DEGRADATION AND HALT BIODIVERSITY LOSS Humans and other animals rely on other forms of life on land for food, clean air,clean water,and as a means of combatting climate change. Plant life makes up 80%of the human diet.Forests,which cover 30% of the Earth's surface,help keep the air and water clean and the Earth's climate in balance.That's not to mention they're home to millions of animal species.But the land and life on it are in trouble.Arable land is disappearing 30 to 35 times faster than it has historically.Deserts are spreading.Animal breeds are going extinct.We can turn these trends around.Fortunately,the Sustainable Development Goals aim to conserve and restore the use of terrestrial ecosystems such as forests, wetlands,drylands and mountains by 2020. 61 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. P892 9�J .71 ,r LA Iaj "4•i �f�. - - �. JA STRENGTHEN THE MEANS OF IMPLEMENTATION AND REVITALIZE THE GLOBAL PARTNERSHIP FOR SUSTAINABLE DEVELOPMENT The Sustainable Development Goals are pretty big to-do list,don't you think?In fact,it's so big,you mayjust want to throw your hands up in the air."Forget it!Can't be done!Why even try!"But we've got a lot going for us.The world is more interconnected today than ever before,thanks to the internet,travel and global institutions.There's a PROMOTE PEACEFUL AND INCLUSIVE growing consensus about the need to work together to stop climate SOCIETIES FOR SUSTAINABLE change.And the Sustainable Development Goals are no small matter DEVELOPMENT, PROVIDE ACCESS TO either.193 countries agreed on these Goals.Pretty incredible,isn't it? 193 countries agreeing on anything?The final Goal lays out a way for JUSTICE FOR ALL AND BUILD EFFECTIVE, nations to work together to achieve all the other Goals. ACCOUNTABLE AND INCLUSIVE INSTITUTIONS AT ALL LEVELS How can a country develop—how can people eat and teach and learn and work and raise families—without peace?And how can a country have peace withoutjustice,without human rights,without govern- ment based on the rule of law?Some regions of the world enjoy relative peace and justice,and may come to take it for granted.Other regions seem to be plagued by armed conflict,crime,torture and exploitation,all of which hinders their development.The goal of peace and justice is one for all countries to strive towards.The Sustainable Development Goals aim to reduce all forms of violence and propose that governments and communities find lasting solutions to conflict and insecurity.That means strengthening the rule of law,reducing the flow of illicit arms and bringing developing countries more into the center of institutions of global governance. Global Regenerative ZerO Waste "W e Build Communities "" Communities, Inc. a wim�m vnu aenn 62 GR dW grow communities LCSG Development, LLC Pegasus Planning and Development COMMUNITIES,INC. qW Item#1. ................................................................................................ LCSG DEVELOPMENT, LLC ................................................................................................ Lisa K. Clark Sean Garretson, AICP Founder/President C 512/300-7270 208-331-0888 (c) SEAN@PEGASUSATX.COM lisa@grOw.org Austin, TX 78702 grOw.org Global . ,, ZerO • PEGASUS Page 97 Item#1. Respondent accepts and agrees with all the terms and provisions of the RFP and any addendum(s) and specifically acknowledges receipt of the following addendum, if any, to the Request for Proposals which addendum have been considered by Respondent in submitting this proposal (if none, state "NONE"): Addendum No. 1 X Addendum No. 2 X Addendum No. 3 N/A Addendum No. 4 N/A Submitted by: RESPONDENT'S BUSINESS NAME (type or print) The Pacific C panies By: (Signature in ink) Date: 08/24/2021 Name: Caleb Roope (Print) Title: President Bus. Address: 430 E State Street, Ste 100, Eagle, ID 83616 Phone: 208-908-4865 Email: calebr@tpchousing.com Note: If Respondent is a corporation, give state of incorporation. If a partnership or joint venture, give full names of all joint venture partners and/or other partners. Novembrewhisky Properties, LLC Respondent declares under penalty of perjury that the foregoing is true and correct. Page 98 Item#1. Proposal Cover Sheet Meridian Development Corporation RFP Name of Entities Making the Proposal: The Pacific Companies &Novembrewhisky Properties, LLC Name and Title of Individual Authorized to Act on Behalf of the Individual/Entity and who is signing below: Caleb Roope President, The Pacific Companies Joshua Evarts Managing Member,Novembrewhisky Properties, LLC Our proposal relates to the following subject property or properties (Check those that apply): CIVIC BLOCK PROJECT 2021 By signing this Cover Sheet, I understand and agree on behalf of myself, if submitted by an individual, or on behalf of the company/corporation, if submitted by an entity, that this proposal is good for 90 days, that I/we will conduct any negotiations in good faith with MDC and that MDC has the complete discretion whether to select or reject a proposal and/or any alternatives contained therein and accept or reject any agreement prior to the full execution of an agreement resulting from this RFP. Name: Caleb Roo e Joshua Evarts Title: President, Pacific Companies Managing Member,NWP, LLC Date: Aug23, 2921 Aug23, 2021 Signature: CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 08/24/2021 Page 99 Item#1. The Pacific Companies &Novembrewhisky Properties, LLC 430 E State St# 100 Eagle, ID 83616 August 23, 2021 Meridian Development Corp (MDC) Attn: Ashley Squyres 33 E Broadway Ave Meridian, Idaho 83642 208-477-1632 RE: CIVIC BLOCK PROJECT 2021- RFP Response Ms. Squyres, Thank you for the opportunity to present the enclosed RFP response to MDC for the property referred to as the CIVIC BLOCK PROJECT 2021. We apologize for not being able to respond the first time around on this project. We were busy getting the Old Town Lofts out of the ground and ensuring long term success on that catalyst project which created the environment to support this current RFP. These are NOT easy projects to deliver. Now that we are months away from delivering the Old Town Lofts to our downtown, our experienced,proven, fiscally responsible, strategic, and easy-to-work-with team is ready for our second investment project in the downtown we call home! For those not familiar with our history, we have been creating renewal in Old Town Meridian since 2013. Our journey began with the acquisition of the Heritage Building (77 E Idaho Ave) in 2013 and subsequent restorations and courting of successful, impact tenants over the past 8 years. In 2015, we acquired the Bank of Meridian building (140 E Idaho Ave) and partnered with MDC on its complete restoration. This project resulted in a rich historical asset for our downtown and an Orchid Award from the Idaho Historic Preservation Council in 2017. In 2016, we successfully responded to the RFP solicited by MDC for the development of both 703 and 713 Main Street. That effort resulted in the successful concept development and competitive capture of the Old Town Lofts project in concert with MDC and the City in 2018, where we are months from completion. To note: The Old Town Lofts project was scheduled to be delivered, per our RFP response, in the spring of 2021. We are delivering that project only 12 months late despite significant infrastructure challenges, unforeseen labor and material shortages and a worldwide pandemic. The bottom line being...you can trust us to do everything we say we will do! We are proposing a preliminary name for this project. We refer to it as the Centennial Center. This name captures the history of this site and coveys a level of professionalism that matches our target residential and commercial consumers that this project will be targeting. CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 2 08/24/2021 Page 100 Item#1. • This proposal will provide the construct for a development agreement for the Centennial Center that includes: o A mixed-use development project consisting of two buildings: ■ Building A (corner of 21d/Idaho)— 15,000 sqft commercial, Class A, office building that is three floors high ■ Building B (Corner of 31d/Idaho)— 123,000 sqft residential building that is four floors high (consisting of three floors of residential condos over one floor of ground floor/covered parking) o Total construction of 138,000 s.f. at a projected investment of nearly $34M 0 124 Residential Apartments (62 1-Bedroom Units and 62 2-Bedroom Units) o A parking plan that meets the 1/1 goal for the residential units with a shared use during business hours for the commercial office tenants. o A development team with the proven experience and resourcing needed to immediately begin the project and deliver success with all requisite financing capacity secured. It is exciting for our entire team to respond to this RFP and make the case for what will be a continuation of our investment into Downtown Meridian. We propose this project in alignment with Destination Downtown, the MDC Revitalization Plan and the Comprehensive Plan for the City of Meridian. Our collective commitment has always been to complete transparency. We intend to present all our budgets (including projected fee) to the City of Meridian for this project. In a market of increasing construction costs and rapid growth,we want to ensure success for all parties invested in our collective efforts to prosper our City Core. Thank you for all your hard work in making this possible. We look forward to the continued journey! Cordially, Joshua Evarts, Managing Partner Novembrewhisky Properties, LLC 77 E Idaho Ave, Ste 300 Meridian, Idaho 83642 208-631-229 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 3 08/24/2021 Page 101 Item#1. TABLE OF CONTENTS PROJECT NARRATIVE 5 CONCEPT—SITE PLAN 8 PARKING PLAN 9 DEVELOPMENT SPECIFICS 10 SITE PLAN&ILLUSTRATIONS 11 INGRESS/EGRESS FOR VEHICLES AND PEDESTRIANS 11 FINANCIAL ANALYSIS 12 DEVELOPMENT COST SUMMARY 12 FINANCING PLAN 12 SOURCES AND USES TABLE 12 DEVELOPMENT TIMELINE 13 COMPARABLE PROJECTS 14 PACIFIC COMPANIES CURRENT PROJECTS 16 THE TEAM 31 EXHIBIT A-FINANCIAL PRO FORMA 32 EXHIBIT B-ENTERPRISE FINANCIAL OVERVIEW CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 4 08/24/2021 Page 102 Item#1. Project Narrative The vision for"Destination: Downtown" focuses on Meridian's slogan of"Built for Business— Designed for Living", embodying the community's character as a sophisticated, family-friendly city in the heart of the Treasure Valley. As urban sprawl and economic development has exploded on Eagle, Overland, Chinden and Ten-Mile Roads, our downtown was lagging. However, today, through our existing partnership with MDC and the City of Meridian, we are ensuring a bright future for our downtown. Our Old Town Lofts project was the successful catalyst to addressing this lag. Even though we are still months away from delivering this first project,we have seen the fruits of this vision. Downtown Meridian has earned destination status. We see activation afterhours. There are new"sophisticated" experiences gaining traction throughout the downtown corridor. We have seen a proliferation of activated patios at 830 Commons, Heritage Hop Haus/Sushi Shack, Deja Brew, The Roosevelt, The Frontier, and the Vault in the past 24 months. The Union 93 project site has been prepped and will begin construction in the next 12 months. Very little of this success in Old Town Meridian occurs without our team taking risk, casting vision, and making investments that date back 8 years. The Centennial Center will be an extension of those existing and proven investments. Based on the Downtown Meridian Housing Study,published in 2014, "Downtown Meridian can support up to 488 multifamily and condominium residential units through 2025 (-40 units per year). The current occupancy rates for both types of housing are very high(above 94%). Furthermore, historical and projected population and employment growth yield a continued demand for new housing." These data points support our view that a residential approach to lead this project is both prudent(fiscally) and strategic for the continued urban renewal of our City Core. However, in contrast to the Old Town Lofts, we believe the next big need in Old Town Meridian is expanded professional office spaces. That is why we are proposing 15,000 sqft of professional office space in the Centennial Center. We have entertained numerous tenant inquiries of this type during the Old Town Lofts construction phases, and this project gives us an option to meet that strategic need. a Old Town Lofts Concepts from 2018 While our team was meeting on the response to this RFP, we were reviewing our successful submission from 2018. In that project,we had a clear vision for the architectural elements and how to tie the Heritage Building (read historic downtown properties)to the new City Hall on Broadway. On this site, we have a unique opportunity to design for success with other city partners in mind. Both the Meridian Library District and Valley Regional Transit are directly affected by this project and would therefore be welcome additions to the design process. As CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 5 08/24/2021 Page 103 Item#1. such, we desire to make this a collaborative process with those partners, MDC and the City of Meridian. We feel this is crucial to avoid past mistakes, leverage our experience with the Old Town Lofts, allow for transparent planning that the public can comment on, and to position this project for broad community support. Josh and Caleb are uniquely suited to lead this design process and look forward to the result. • Team Centennial Center Design Process Defined o Josh & Caleb would define the schedule and deliverables as components of the approved Development Agreement o MDC, VRT and MLD would be included in decision making related to: ■ Exterior design and finish elements that help define the block ■ Placement of trash, deliveries, and utility service to maximize the footprint of the block ■ Scheduling to limit the disruption of operations during construction While this collaborative approach is unique in its design,we feel it ensures the successful delivery of a product that all stakeholders can support. It leverages the strength and trust that we have enjoyed for 3 years on the Old Town Lofts project, and offers a path for impacted partners on this key block to participate with us! As with the Old Town Lofts, the Centennial Center development will be led by the Pacific Companies and their vertically integrated team. With the completion of ten new multifamily housing developments in 2020 and twenty-three slated for completion in 2021, TPCs' currently owned total assets are in excess of$4.48 billion. The company's portfolio performed very well with an overall occupancy of 97.7% and debt service of 1.40. Our entire team consists of Novembrewhisky Properties, LLC and the Pacific Companies. Their respective value additions and roles are described below: Novembrewhisky Properties, Pacific Companies Current owner/partner in the Heritage A privately-held group of firms established to Building, the Vault Cigar Lounge, and Old deliver all the real estate specialties including Town Lofts feasibility analysis, development, design, finance, construction, and asset management. Joshua Evarts (Managing Member) serves as A vertically integrated organization that the Vice Chairman of the Meridian Historic allows ONE team to manage every aspect of Preservation Commission(5 years' this project; from initial feasibility analysis, to experience) and runs three successful finished product, to ongoing management. businesses based in Downtown Meridian. Having all necessary disciplines under one roof, we're able to move with knowledge and Responsible for architectural design inputs to agility to create highly-valued outcomes for maintain historic elements for this project our stakeholders. CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 08/24/2021 6 Page 104 Item#1. Novembrewhisky Properties, Companies Responsible for all related commercial leases Year-end portfolio leverage was 60%,which and recruiting strategic business into our City is low in comparison to our peers. As a Core continued hedge against unforeseen challenges, we again reported unrestricted liquidity in excess of$15 million and more than$75 million in property-level cash and reserves. Responsible for all communication with city partners, downtown business partners, media and prospective commercial leasees CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 7 08/24/2021 Page 105 Item#1. Concept — Site Plan The project consists of two structures to be built at opposite site corners with requisite parking being programmed and developed underneath Building B (as seen in the Site Plan below)that meet all referenced code,urban renewal, use, height, and parking goals. This site plan also meets the goal of developing a continuous urban edge and encouraging walkability in our City Core. o -- Building A Building B L Rx 4630t00, R77LW6 '.' 779�650200 97v^' .' - ID -'_ low E Brwdw�y Ave Building A-Commercial Office Space(3 stories)Building B—Residential/Parking(4 Stories) This site plan supports: o A mixed-use development project consisting of two buildings: ■ Building A (corner of 2ttd/Idaho)— 15,000 sqft commercial building that is three floors high ■ Building B (Corner of 3rd/Idaho)— 123,000 sqft residential building that is four floors high (consisting of three floors of residential condos over one floor of ground floor/covered parking) CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 8 08/24/2021 Page 106 Item#1. o Total construction of 138,000 s.f. at a projected investment of nearly $34M o 124 Residential Apartments (62 1-Bedroom Units and 62 2-Bedroom Units) o A parking plan that meets the 1/1 goal for the residential units with a shared use during business hours for the commercial tenants. Parking Plan One of the challenges in developing any downtown block is the existing programmed parking and the balance between building square footage and surface parking. We have a solid plan to program the parking needs as referenced in the Site Plan above. The inclusion of an entire footprint of ground parking, beneath the residential structure programmed for, is sufficient to meet the needs of all occupants and is a net increase to the site. We will also maximize the street parking as final design decisions are made by the team. CIVIC BLOCK PROJECT 2021 RFP RESPONSE— q 08/24/2021 Page 107 Item#1. Development Specifics Our project is designed specifically to address the goals of MDC and urban renewal in our City Core. We accomplish this as follow: MDC GoalsProposed Project Strengthening the economic base of the area 15,000 sqft of leasable, Class-A commercial and community and stimulating new office space that is intimately aligned with the commercial expansion, employment and vision of Destination Meridian. economic growth. Strengthening the tax base by encouraging A projected$34M valued physical property private development and increasing the being added to the tax roll for the Ada County assessed values of properties within the Assessor(when land values are added to the district. valuation) for the entire Site Plan. This translates into a substantial increase in property taxes being collected each year. Eliminating of obsolete building types and The Community Center and Centennial Park inadequate public improvements and are insufficient to meet current downtown facilities. needs and must be torn down to accommodate this proposed project. This project will also include any requisite improvements to the existing public facilities. Promoting modern integrated development Our Site Plan provides sufficient parking to with appropriate setbacks,parking, and accommodate the proposed commercial pedestrian and vehicle circulation. parking requirements. Covered garages are included in the design plans for residential units. Providing unity and integrity of design in the The proposed design process with our district. experienced team and community stakeholders, ensures unity and integrity of design. Promoting an improved environment for new This project is a continuation of our existing commercial and residential downtown renewal projects. We will continue developments. to set the standard for effective and efficient partnership with the City of Meridian. CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 10 08/24/2021 Page 108 Item#1. Site Plan & Illustrations The site plan and proposed design process has been provided above. Ingress/Egress for Vehicles and Pedestrians These have been provided in the sections above. There are very small material changes in existing ingress/egress for vehicles or pedestrians. These could be subject to further refinement and maximization by the design process referenced above. CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 08/24/2021 Page 109 Item#1. Financial Analysis Development Cost Summary We have attached(Exhibit A) a complete Financial Pro Forma for this project. The highlights are: 1. Our Team has valued the land at $657,000 for the acreage described in the RFP. This amount will be paid to the City of Meridian upon execution of the Development Agreement. 2. Our Team requests a reimbursement of$2.3M in funding from MDC towards off-site work,utility relocation, clean-up costs and demo associated with the project. We expect the details of this reimbursement would be outlined in the Development Agreement and would be paid by incremental TIF generated by the project over the life of the URD. We would propose a 50% of TIF sharing until the reimbursement is made, leaving room for other MDC projects. 3. Total Construction Costs are estimated to be $33,759,461 Financing Plan Pacific Companies' liquidity and net worth are strong and continue their steady growth trend at over$25 million and $85 million, respectively. Our large portfolio and long-standing relationships with numerous lenders attract the most competitive financing terms available. Since 2010, TPC has guaranteed and repaid well in excess of$500 million in debt. TPC uses its own capital to fund the majority of its predevelopment expenses for its affordable housing pipeline. As of this writing, TPC has approximately $22 million of its own capital invested in predevelopment costs for projects that will begin construction over the next 36 months. TPC occasionally uses bank loans or loans from its private investment funds when early site acquisition or high up-front costs make this a preferential option. We expect to finance the project with conventional bank financing and a combination of sponsor and private equity, all of which would be fully committed before the start of construction. TPC has extensive experience with institutional financing that includes conventional loans, tax- exempt bonds, and low-income housing tax credits, and have raised over $300 million in private debt and equity capital since 2008. Due to our long-standing relationships and large portfolio, we attract competitive financing terms from lenders, investors, and a variety of local sources— including both public and private loans and grants. TPC has posted strong net income for many years, of which the income after tax has been reinvested in TPC's pipeline of projects on an ongoing basis. The company maintains a significant cash position at all times as a hedge against unforeseen challenges. We have made an Enterprise Financial Overview available as Exhibit B to this proposal. Sources and Uses Table See Exhibit A CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 12 08/24/2021 Page 110 Item#1. Development Timeline This preliminary schedule could be impacted by a number of factors, such as timing of the negotiation period, longer than expected design review period, or the ability to transfer the publicly-owned property. At this early stage, we must stress that this schedule is optimistic and that forces outside the control of the development team often impact the schedules of development projects of this scale. Proposed Development Schedule Action/Event Begin End City selects finalist and negotiation of Development Agreement Aug 2021 October 2021 Inspect and complete due diligence investigations of the site Nov 2021 Jan 2022 Receive entitlement approvals and acquire property Jan 2022 Jan 2022 Design documents and development Jan 2022 Mar 2022 Demolition of existing structures Aug2022 Sep 2022 Prepare construction drawings and obtain building pen-nit approvals Mar 2022 Aug2022 Close financing Aug2022 1 Oct 2022 Construction period Oct 2022 Apr 2024 Initial occupancy and lease-up Apr 2024 Jun 2024 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 13 08/24/2021 Item#1. Comparable Projects Pacific Companies has produced more than 200 projects consisting of housing, schools, and commercial facilities over its 20 years, and has been recognized several times as a national, "Top 10" developer of affordable housing. Due to our long-standing relationships and large portfolio, we attract competitive financing terms from institutional and private lenders and investors. We maintain a significant cash position at all times as a hedge against unforeseen challenges and redirect most income to our pipeline of projects on an ongoing basis. In addition to bringing a strong resume of development experience, TPC is able to provide the full breadth of development roles in-house: design, development, construction, and ownership/ management. This level of vertical integration gives us the leverage to develop a more cost effective, higher quality, and energy efficient development. Whether our project team is largely comprised of our in-house teams or a variety of partners, our cross-disciplinary skills enhance outcomes. Below are some comparable projects. We are happy to provide additional POC information for these developments based on what aspect of the project MDC would like to inquire about. -Project Name/Description Colonial House Kymberly Horner, Economic Development Oxnard, California Director, City of Oxnard (805) 385-7407 1 k mberl .homer oxnard.or Purpose: Mixed Use Residential Units: 44 Commerical Units: 7 commercial condominiums Square Feet: 160,000 (approx) Y Status: Completed 2014 Colonial House is a mixed-use housing community on N. Oxnard Boulevard(Pacific Coast Highway) near the Oxnard Transit -; Center. The project includes seven ground floor retail suites and secured podium parking in a California Coastal style. - CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 14 08/24/2021 Page 112 Item#1. Project 1 1 1 Eagle Urban Renewal District Projects William Vaughan, Zoning Administrator, Eagle, Idaho City of Eagle (208) 938-3854 x207 wvaughn&cityofea lg a org Purpose: Mixed Use Units: See breakdown below Square Feet: See breakdown below Status: Under construction, much is complete Tow.ffim LACE --' EAGLtUKES` 1, r _ EAST END RIVERSIDE • Eagle Lakes— Under construction 0 250 market rate multifamily apartments 0 30 single family homes 0 40 townhomes 0 15,000 sq. ft. retail/commercial 0 35,000 sq. ft. office space • East End Riverside— Under construction 0 94,000 sq. ft. retail/commercial 0 23,000 sq. ft. office space • East End Marketplace— Under construction 0 48 affordable senior apartments - Complete 0 75,000 sq. ft. retail/commercial CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 15 08/24/2021 Page 113 Item#1. Pacific Companies Current Projects Property Development Cost Shandon Park Apartments Rawlins WY 36 Sold $3,996,384 Connemara Laramie WY 48 Sold $7,419,936 Creekbridge Court Nampa ID 60 Sold $4,495,461 Wentworth Apartments Evanston WY 24 Sold $2,997,288 Mountainview Apartments Winnemucca NV 42 Sold $3,342,510 Stonecreek Apartments West Wendover NV 42 Sold $3,625,258 Meadowbrook Apartments Emmett ID 36 Sold $2,804,121 San Joaquin Vista Firebaugh CA 48 Stabilized $4,490,358 Apartments Sumner Creek Place Oakley CA 80 Stabilized $10,490,256 Sunrise Vista Apartments Waterford CA 56 Stabilized $6,535,803 Meadow Vista Apartments Red Bluff CA 72 Stabilized $8,442,102 Summercreek Place Eureka CA 40 Stabilized $3,833,207 College Hills Phase I Riverton WY 48 Sold $7,419,936 Teton View Village Victor ID 32 Sold $2,828,205 Apartments The Courtyards at Ridgecrest Nampa ID 60 Sold $5,034,828 The Courtyards at Corvallis Corvallis MT 36 Sold $3,131,956 Ashton Place Caldwell ID 48 Sold $4,265,623 The Courtyards at Pahrump Pahrump NV 60 Stabilized $6,727,961 Creekside Court Apartments Sheridan WY 51 Stabilized $3,889,856 The Courtyards at Sheridan Sheridan WY 60 Stabilized $5,352,782 Palm Terrace Apartments Pahrump NV 64 Stabilized $4,344,796 The Courtyards at Ridgecrest Nampa ID 54 Sold $4,903,627 11 Summercreek Village Ukiah CA 64 Stabilized $9,818,201 Apartments The Courtyards at Arcata Arcata CA 64 Stabilized $9,126,088 Snow King Apartments Jackson WY 24 Stabilized $4,218,119 Wind River Apartments Douglas WY 42 Sold $4,138,811 Carrington Pointe Rock Springs WY 60 Sold $6,317,003 Apartments The Foothills Apartments Meridian ID 54 Stabilized $5,114,141 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 16 08/24/2021 Page 114 Item#1. Property Development Cost Meadows Senior Village Fortuna CA 40 Stabilized $4,201,960 Park Creek Village Farmersville CA 48 Stabilized $7,179,081 Apartments Park Ridge Apartments Post Falls ID 54 Sold $5,197,301 Vista Montana Apartments Las Cruces NM 80 Stabilized $7,598,471 Lakeview Terrace Clearlake CA 60 Stabilized $9,553,338 Apartments College Hills Phase 11 Riverton WY 32 Sold $3,617,515 The Courtyards at Cypress Oakley 96 Stabilized $29,596,715 Grove 41 Pinehurst at Flagstaff Flagstaff AZ 84 Stabilized $10,729,317 Aspen Village at Mammoth Mammoth Lakes CA 48 Stabilized $15,071,479 Creek Taylor Park Meadows Taylor AZ 42 Stabilized $5,450,928 Vista Ridge Apartments Red Bluff CA 56 Stabilized $11,108,932 Creekbridge Arboleda King City CA 32 Stabilized $2,800,000 Redwood Village Redway CA 20 Stabilized $4,585,701 Fortuna Family Apartments Fortuna CA 24 Stabilized $6,595,730 Quail Run at River's Edge Elko NV 60 Stabilized $8,352,505 Willow Creek Apartments Willow Creek CA 24 Stabilized $6,471,591 The Courtyards at Arcata II Arcata CA 36 Stabilized $9,705,423 Parkside Court Apartments Woodlake CA 24 Stabilized $5,710,316 The Buttes at Idaho Falls Idaho Falls ID 80 Stabilized $9,806,598 Henness Flats Truckee CA 92 Stabilized $27,631,249 Mammoth Lakes Family Mammoth Lakes CA 30 Stabilized $10,876,639 A is II Sequoia Village at River's Porterville CA 64 Stabilized $10,383,846 Edge Willow Plaza Apartments Bishop CA 12 Stabilized $4,416,934 Cobre Village Globe AZ 64 Stabilized $9,839,426 Summit Crest Apartments Carson City NV 28 Stabilized $6,267,604 Salado Orchard Apartments Corning CA 48 Stabilized $10,577,301 Chico Courtyards Chico CA 76 Stabilized $18,510,123 Blue Oak Court Apartments Anderson CA 80 Stabilized $16,235,736 Frishman Hollow Apartments Truckee CA 32 Stabilized $14,493,837 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 17 08/24/2021 Page 115 Item#1. Property Development Cost Alicante Apartments Huron CA 81 Stabilized $15,773,133 Hillview Ridge Apartments Oroville CA 72 Stabilized $18,901,162 Gateway Village Apartments Farmersville CA 48 Stabilized $13,596,682 The Majestic Apartments Hayward CA 81 Stabilized $14,459,798 Southgate Apartments Carson City NV 148 Stabilized $17,497,845 Gateway Village Apartments Farmersville CA 16 Stabilized $3,751,228 II El Centro Senior Villas II El Centro CA 20 Stabilized $4,614,457 Montgomery Crossing Lemoore CA 57 Stabilized $15,063,079 Apartments Bakersfield Family Bakersfield CA 80 Stabilized $18,291,740 Apartments Springhill Gardens Grass Valley CA 121 Stabilized $15,688,704 Village Grove Apartments Farmersville CA 48 Stabilized $4,013,609 Riverbank Family Riverbank CA 65 Stabilized $18,094,546 Apartments Parkside at Sycamore West Sacramento CA 62 Stabilized $23,215,175 Madera Peak Vista Globe AZ 60 Stabilized $8,963,757 Apartments Mahogany Court Apartments Minden NV 21 Stabilized $5,426,540 Valley Gardens Armona CA 20 Stabilized $5,769,276 Euclid Village Apartments Dinuba CA 57 Stabilized $14,849,739 Palomar Court Farmersville CA 40 Stabilized $7,390,100 East Street Senior Redding CA 21 Stabilized $5,096,472 Apartments Paigewood Village Orland CA 73 Stabilized $19,562,530 Apartments Tierra Vista Apartments Hanford CA 49 Stabilized $11,911,438 Tresor Apartments Salinas CA 81 Stabilized $23,856,482 Orchard Village Apartments Winters CA 74 Stabilized $22,614,808 The Groves at Lindsay Lindsay CA 73 Stabilized $12,211,041 Seasons at Anderson Anderson CA 79 Stabilized $14,253,861 Rancho Hermosa Santa Maria CA 47 Stabilized $21,894,338 Pacifica Apartments Watsonville CA 20 Stabilized $6,615,143 Arvin Square Apartments Arvin CA 51 Stabilized $8,446,550 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 18 08/24/2021 Page 116 Item#1. Property Development Cost Altaville Apartments Angels Camp CA 50 Stabilized $6,803,035 Olivehurst Apartments Olivehurst CA 51 Stabilized $8,959,320 Rodeo Drive Meadows Victorville CA 48 Stabilized $12,305,013 Villa Siena Apartments Porterville CA 70 Stabilized $20,393,403 West Trail Apartments Tulare CA 49 Stabilized $13,771,092 Sycamore Family Apartments Arvin CA 49 Stabilized $13,659,954 Washington Court Gridley CA 57 Stabilized $13,077,531 Apartments Aster Place Apartments Eureka CA 40 Stabilized $9,259,090 Amanda Park Apartments Murrieta CA 397 Stabilized $46,955,515 Bidwell Park Apartments Chico CA 38 Stabilized $7,881,439 Hillview Ridge Apartments I1 Oroville CA 57 Stabilized $14,582,261 Waterford Gardens Waterford CA 51 Stabilized $9,564,479 Apartments Cinnamon Villas Lemoore CA 80 Stabilized $13,194,351 Avila Avenue Apartments Parlier CA 33 Stabilized $10,316,672 Ridgecrest Senior Ridgecrest CA 32 Stabilized $7,058,329 Apartments Terracina Oaks Apartments Greenfield CA 41 Stabilized $11,494,708 The Crossing at North Loop Antelope CA 112 Stabilized $13,188,567 Dolores Lia Apartments Millbrae CA 27 Stabilized $11,456,981 Arborpoint Apartments Madera CA 65 Stabilized $16,532,083 Woodbridge Apartments Merced CA 75 Stabilized $16,543,390 Riverbank Senior Apartments Riverbank CA 20 Stabilized $6,284,779 Paradise Arms Los Angeles CA 43 Stabilized $12,798,518 Cypress Court Lompoc CA 60 Stabilized $12,893,575 Plumas Family Apartments Yuba City CA 15 Stabilized $3,778,910 Sonoma Gardens Santa Rosa CA 60 Stabilized $12,015,926 Mayfair Court Apartments San Jose CA 93 Stabilized $39,855,003 Colonial House Oxnard CA 44 Stabilized $21,850,852 The Aspens Tulare CA 47 Stabilized $10,838,261 Bella Vista Lakeport CA 48 Stabilized $11,033,555 The Orchards on Newcastle Livingston CA 49 Stabilized $13,350,011 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 19 08/24/2021 Page117 Item#1. Property Development Cost Valley Glen Apartments Dixon CA 59 Stabilized $18,474,103 The Aspens at South Lake South Lake CA 48 Stabilized $16,549,568 Tahoe The Grove Apartments Linda CA 49 Stabilized $11,094,173 King's Station Apartments King City CA 57 Stabilized $15,772,653 Williams Senior Apartments Williams CA 48 Stabilized $11,723,080 ILT Charter Student Housing Garland TX 40 Stabilized $7,805,000 Sycamore Family Apartments Arvin CA 72 Stabilized $18,894,156 11 Dickinson Meadows Dickinson ND 112 Stabilized $20,679,536 Calden Court Apartments South Gate CA 216 Stabilized $75,101,459 Sun Ray Family Apartments Douglas AZ 57 Stabilized $11,067,215 PATH Villas at Del Rey Los Angeles CA 23 Stabilized $9,401,577 Avery Gardens Apartments Elk Grove CA 64 Stabilized $15,085,115 Icon on Rosecrans Hawthorne CA 127 Stabilized $48,642,276 Third Street Residences San Jose CA 37 Stabilized $13,402,139 Willow Springs Senior Willows CA 49 Stabilized $9,349,700 Harbour View Senior Richmond CA 62 Stabilized $16,920,419 The Village at Henderson Porterville CA 168 Sold $21,492,174 Magnolia Place Senior Greenfield CA 32 Stabilized $7,142,316 Apartments Sanger Crossing Sanger CA 45 Stabilized $9,340,959 6th Street Lofts Long Beach CA 30 Sold $6,569,000 Centennial Place Hanford CA 176 Stabilized $25,805,379 Newcomb Court Porterville CA 80 Stabilized $14,490,083 Avila Avenue Apartments II Parlier CA 24 Stabilized $6,124,043 Carlow Senior Apartments Rexburg ID 48 Stabilized $8,151,502 Parkside Apartments Post Falls ID 24 Stabilized $3,172,816 Casas de Esperanza Douglas AZ 50 Stabilized $8,464,699 Arroyo Del Camino Avenal CA 41 Stabilized $9,638,257 Kristen Court Live Oak CA 56 Stabilized $14,745,504 Terracing Oaks Apartments II Greenfield CA 48 Stabilized $11,699,090 Valle del Sol Coalinga CA 40 Stabilized $7,449,793 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 20 08/24/2021 Page 118 Item#1. Property Development Cost Belmont Family Exeter CA 25 Stabilized $6,130,561 Malan Street Brawley CA 41 Stabilized $11,533,855 Riverbank Central Riverbank CA 72 Stabilized $18,471,147 Vista Rose Senior Wasilla AK 42 Stabilized $8,954,307 Alexander Station Gilroy CA 263 Stabilized $101,215,348 Terraces at Nevin Richmond CA 289 Lease-Up $66,239,744 Vista de Oro Hollister CA 80 Stabilized $28,737,000 Cherry Street Lofts Bridgeport CT 157 Stabilized $54,384,783 Gateway Station Oxnard CA 240 Stabilized $108,035,825 Kinsale Place Lewiston ID 36 Stabilized $7,125,847 Harvest Park Gilroy CA 98 Stabilized $43,783,392 Stoneman Pittsburg CA 230 Stabilized $98,623,194 Stony Creek 11 Williams CA 32 Stabilized $9,826,913 Middleton Place Huntington Park CA 20 Stabilized $9,348,939 Vista Rose Senior II Wasilla AK 42 Stabilized $7,621,333 Bow Street Apts I Elk Grove CA 50 Stabilized $15,575,796 Bow Street Apts II Elk Grove CA 48 Stabilized $11,551,898 PATH Eucalyptus Villas Inglewood CA 40 Stabilized $15,465,786 Healdsburg Glen Healdsburg CA 20 Stabilized $10,479,697 Brunswick Street Daly City CA 206 Stabilized $92,082,952 New Path Community Boise ID 41 Stabilized $7,533,047 Housing Cottonwood Meadows Eagle ID 48 Stabilized $9,305,277 Prelude at Paramount Meridian ID 272 Stabilized $43,387,000 Bella Terra Anchorage AK 32 Stabilized $5,500,000 Eagle Lakes Eagle ID 250 Stabilized $46,472,000 Napa Courtyards Napa CA 20 Stabilized $8,176,685 Adare Manor Boise ID 134 Stabilized $27,229,431 Las Brisas Caldwell ID 48 Stabilized $9,591,681 Kenolio Apartments Maui HI 186 Stabilized $85,449,680 Martin Street Lakeport CA 24 Stabilized $8,691,458 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 21 08/24/2021 Page 119 Item#1. Property Development Cost First Point I Santa Ana CA 346 Construction $153,172,622 First Point II Santa Ana CA 206 Construction $98,236,515 Metro East Senior Park Santa Ana CA 418 Lease-Up $147,594,669 International Station Oakland CA 324 Lease-Up $113,179,623 Parkside at Vast Oak Rohnert Park CA 218 Stabilizing $81,955,117 Garden Brook Senior Village Garden Grove CA 400 Construction $140,128,598 Village at Burlingame Burlingame CA 132 Construction $84,361,190 Malan Street II Brawley CA 40 Stabilized $14,400,000 Magnolia Senior Apartments Greenfield CA 32 Construction $8,300,000 11 Cinnamon Villas 11 Lemoore CA 28 Construction $5,700,000 Vine Creek Temecula CA 60 InDev $19,425,847 Parkway Apartments Folsom CA 72 Construction $20,000,000 Kristen Court 11 Live Oak CA 24 Stabilized $7,431,484 Arroyo Del Camino II Avenal CA 36 Stabilized $8,973,423 Bella Vista Phase I Anchorage AK 104 InDev $19,743,094 Shandon Park Apartments Rawlins WY 36 Stabilized $3,996,384 Connemara Laramie WY 48 Stabilized $7,419,936 Creekbridge Court Nampa ID 60 Stabilized $4,495,461 Wentworth Apartments Evanston WY 24 Stabilized $2,997,288 Mountainview Apartments Winnemucca NV 42 Stabilized $3,342,510 Stonecreek Apartments West Wendover NV 42 Stabilized $3,625,258 Meadowbrook Apartments Emmett ID 36 Stabilized $2,804,121 San Joaquin Vista Firebaugh CA 48 Stabilized $4,490,358 Apartments Sumner Creek Place Oakley CA 80 Stabilized $10,490,256 Sunrise Vista Apartments Waterford CA 56 Stabilized $6,535,803 Meadow Vista Apartments Red Bluff CA 72 Stabilized $8,442,102 Summercreek Place Eureka CA 40 Stabilized $3,833,207 College Hills Phase I Riverton WY 48 Stabilized $7,419,936 Teton View Village Victor ID 32 Stabilized $2,828,205 Apartments The Courtyards at Ridgecrest Nampa ID 60 Stabilized $5,034,828 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 22 08/24/2021 Page 120 Item#1. Property Development Cost The Courtyards at Corvallis Corvallis MT 36 Stabilized $3,131,956 Ashton Place Caldwell ID 48 Stabilized $4,265,623 The Courtyards at Pahrump Pahrump NV 60 Stabilized $6,727,961 Creekside Court Apartments Sheridan WY 51 Stabilized $3,889,856 The Courtyards at Sheridan Sheridan WY 60 Stabilized $5,352,782 Palm Terrace Apartments Pahrump NV 64 Stabilized $4,344,796 The Courtyards at Ridgecrest Nampa ID 54 Stabilized $4,903,627 11 Summercreek Village Ukiah CA 64 Stabilized $9,818,201 Apartments The Courtyards at Arcata Arcata CA 64 Stabilized $9,126,088 Snow King Apartments Jackson WY 24 Stabilized $4,218,119 Wind River Apartments Douglas WY 42 Stabilized $4,138,811 Carrington Pointe Rock Springs WY 60 Stabilized $6,317,003 Apartments The Foothills Apartments Meridian ID 54 Stabilized $5,114,141 Meadows Senior Village Fortuna CA 40 Stabilized $4,201,960 Park Creek Village Farmersville CA 48 Stabilized $7,179,081 Apartments Park Ridge Apartments Post Falls ID 54 Stabilized $5,197,301 Vista Montana Apartments Las Cruces NM 80 Stabilized $7,598,471 Lakeview Terrace Clearlake CA 60 Stabilized $9,553,338 Apartments College Hills Phase 11 Riverton WY 32 Stabilized $3,617,515 The Courtyards at Cypress Oakley CA 96 Stabilized $29,596,715 Grove Pinehurst at Flagstaff Flagstaff AZ 84 Stabilized $10,729,317 Aspen Village at Mammoth Mammoth Lakes CA 48 Stabilized $15,071,479 Creek Taylor Park Meadows Taylor AZ 42 Stabilized $5,450,928 Vista Ridge Apartments Red Bluff CA 56 Stabilized $11,108,932 Creekbridge Arboleda King City CA 32 Stabilized $2,800,000 Redwood Village Redway CA 20 Stabilized $4,585,701 Fortuna Family Apartments Fortuna CA 24 Stabilized $6,595,730 Quail Run at River's Edge Elko NV 60 Stabilized $8,352,505 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 23 08/24/2021 Page 121 Item#1. Property Development Cost Willow Creek Apartments Willow Creek CA 24 Stabilized $6,471,591 The Courtyards at Arcata II Arcata CA 36 Stabilized $9,705,423 Parkside Court Apartments Woodlake CA 24 Stabilized $5,710,316 The Buttes at Idaho Falls Idaho Falls ID 80 Stabilized $9,806,598 Henness Flats Truckee CA 92 Stabilized $27,631,249 Mammoth Lakes Family Mammoth Lakes CA 30 Stabilized $10,876,639 A is II Sequoia Village at River's Porterville CA 64 Stabilized $10,383,846 Edge Willow Plaza Apartments Bishop CA 12 Stabilized $4,416,934 Cobre Village Globe AZ 64 Stabilized $9,839,426 Summit Crest Apartments Carson City NV 28 Stabilized $6,267,604 Salado Orchard Apartments Corning CA 48 Stabilized $10,577,301 Chico Courtyards Chico CA 76 Stabilized $18,510,123 Blue Oak Court Apartments Anderson CA 80 Stabilized $16,235,736 Frishman Hollow Apartments Truckee CA 32 Stabilized $14,493,837 Alicante Apartments Huron CA 81 Stabilized $15,773,133 Hillview Ridge Apartments Oroville CA 72 Stabilized $18,901,162 Gateway Village Apartments Farmersville CA 48 Stabilized $13,596,682 The Majestic Apartments Hayward CA 81 Stabilized $14,459,798 Southgate Apartments Carson City NV 148 Stabilized $17,497,845 Gateway Village Apartments Farmersville CA 16 Stabilized $3,751,228 II El Centro Senior Villas II El Centro CA 20 Stabilized $4,614,457 Montgomery Crossing Lemoore CA 57 Stabilized $15,063,079 Apartments Bakersfield Family Bakersfield CA 80 Stabilized $18,291,740 Apartments Springhill Gardens Grass Valley CA 121 Stabilized $15,688,704 Village Grove Apartments Farmersville CA 48 Stabilized $4,013,609 Riverbank Family Riverbank CA 65 Stabilized $18,094,546 Apartments Parkside at Sycamore West Sacramento CA 62 Stabilized $23,215,175 Madera Peak Vista Globe AZ 60 Stabilized $8,963,757 Apartments CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 24 08/24/2021 Page 122 Item#1. Property Development Cost Mahogany Court Apartments Minden NV 21 Stabilized $5,426,540 Valley Gardens Armona CA 20 Stabilized $5,769,276 Euclid Village Apartments Dinuba CA 57 Stabilized $14,849,739 Palomar Court Farmersville CA 40 Stabilized $7,390,100 East Street Senior Redding CA 21 Stabilized $5,096,472 Apartments Paigewood Village Orland CA 73 Stabilized $19,562,530 Apartments Tierra Vista Apartments Hanford CA 49 Stabilized $11,911,438 Tresor Apartments Salinas CA 81 Stabilized $23,856,482 Orchard Village Apartments Winters CA 74 Stabilized $22,614,808 The Groves at Lindsay Lindsay CA 73 Stabilized $12,211,041 Seasons at Anderson Anderson CA 79 Stabilized $14,253,861 Rancho Hermosa Santa Maria CA 47 Stabilized $21,894,338 Pacifica Apartments Watsonville CA 20 Stabilized $6,615,143 Arvin Square Apartments Arvin CA 51 Stabilized $8,446,550 Altaville Apartments Angels Camp CA 50 Stabilized $6,803,035 Olivehurst Apartments Olivehurst CA 51 Stabilized $8,959,320 Rodeo Drive Meadows Victorville CA 48 Stabilized $12,305,013 Villa Siena Apartments Porterville CA 70 Stabilized $20,393,403 West Trail Apartments Tulare CA 49 Stabilized $13,771,092 Sycamore Family Apartments Arvin CA 49 Stabilized $13,659,954 Washington Court Gridley CA 57 Stabilized $13,077,531 Apartments Aster Place Apartments Eureka CA 40 Stabilized $9,259,090 Amanda Park Apartments Murrieta CA 397 Stabilized $46,955,515 Bidwell Park Apartments Chico CA 38 Stabilized $7,881,439 Hillview Ridge Apartments II Oroville CA 57 Stabilized $14,582,261 Waterford Gardens Waterford CA 51 Stabilized $9,564,479 Apartments Cinnamon Villas Lemoore CA 80 Stabilized $13,194,351 Avila Avenue Apartments Parlier CA 33 Stabilized $10,316,672 Ridgecrest Senior Ridgecrest CA 32 Stabilized $7,058,329 Apartments CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 25 08/24/2021 Page 123 Item#1. Property Development Cost Terracina Oaks Apartments Greenfield CA 41 Stabilized $11,494,708 The Crossing at North Loop Antelope CA 112 Stabilized $13,188,567 Dolores Lia Apartments Millbrae CA 27 Stabilized $11,456,981 Arborpoint Apartments Madera CA 65 Stabilized $16,532,083 Woodbridge Apartments Merced CA 75 Stabilized $16,543,390 Riverbank Senior Apartments Riverbank CA 20 Stabilized $6,284,779 Paradise Arms Los Angeles CA 43 Stabilized $12,798,518 Cypress Court Lompoc CA 60 Stabilized $12,893,575 Plumas Family Apartments Yuba City CA 15 Stabilized $3,778,910 Sonoma Gardens Santa Rosa CA 60 Stabilized $12,015,926 Mayfair Court Apartments San Jose CA 93 Stabilized $39,855,003 Colonial House Oxnard CA 44 Stabilized $21,850,852 The Aspens Tulare CA 47 Stabilized $10,838,261 Bella Vista Lakeport CA 48 Stabilized $11,033,555 The Orchards on Newcastle Livingston CA 49 Stabilized $13,350,011 Valley Glen Apartments Dixon CA 59 Stabilized $18,474,103 The Aspens at South Lake South Lake CA 48 Stabilized $16,549,568 Tahoe The Grove Apartments Linda CA 49 Stabilized $11,094,173 King's Station Apartments King City CA 57 Stabilized $15,772,653 Williams Senior Apartments Williams CA 48 Stabilized $11,723,080 ILT Charter Student Housing Garland TX 40 Stabilized $7,805,000 Sycamore Family Apartments Arvin CA 72 Stabilized $18,894,156 11 Dickinson Meadows Dickinson ND 112 Stabilized $20,679,536 Calden Court Apartments South Gate CA 216 Stabilized $75,101,459 Sun Ray Family Apartments Douglas AZ 57 Stabilized $11,067,215 PATH Villas at Del Rey Los Angeles CA 23 Stabilized $9,401,577 Avery Gardens Apartments Elk Grove CA 64 Stabilized $15,085,115 Icon on Rosecrans Hawthorne CA 127 Stabilized $48,642,276 Third Street Residences San Jose CA 37 Stabilized $13,402,139 Willow Springs Senior Willows CA 49 Stabilized $9,349,700 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 26 08/24/2021 Page 124 Item#1. Property Development Cost Harbour View Senior Richmond CA 62 Stabilized $16,920,419 The Village at Henderson Porterville CA 168 Sold $21,492,174 Magnolia Place Senior Greenfield CA 32 Stabilized $7,142,316 Apartments Sanger Crossing Sanger CA 45 Stabilized $9,340,959 6th Street Lofts Long Beach CA 30 Sold $6,569,000 Centennial Place Hanford CA 176 Stabilized $25,805,379 Newcomb Court Porterville CA 80 Stabilized $14,490,083 Avila Avenue Apartments II Parlier CA 24 Stabilized $6,124,043 Carlow Senior Apartments Rexburg ID 48 Stabilized $8,151,502 Parkside Apartments Post Falls ID 24 Stabilized $3,172,816 Casas de Esperanza Douglas AZ 50 Stabilized $8,464,699 Arroyo Del Camino Avenal CA 41 Stabilized $9,638,257 Kristen Court Live Oak CA 56 Stabilized $14,745,504 Terracina Oaks Apartments 11 Greenfield CA 48 Stabilized $11,699,090 Valle del Sol Coalinga CA 40 Stabilized $7,449,793 Belmont Family Exeter CA 25 Stabilized $6,130,561 Malan Street Brawley CA 41 Stabilized $11,533,855 Riverbank Central Riverbank CA 72 Stabilized $18,471,147 Vista Rose Senior Wasilla AK 42 Lease-Up $8,954,307 Alexander Station Gilroy CA 263 Construction $101,215,348 21 &23 Nevin Richmond CA 289 Construction $66,239,744 Vista de Oro Hollister CA 80 Construction $28,737,000 Cherry Street Lofts Bridgeport CT 157 Construction $54,384,783 Gateway Station Oxnard CA 240 Construction $108,035,825 Kinsale Place Lewiston ID 36 Construction $7,125,847 Harvest Park Gilroy CA 98 Construction $43,783,392 Stoneman Pittsburg CA 230 Construction $98,623,194 Stony Creek 11 Williams CA 32 Construction $9,826,913 Middleton Place Huntington Park CA 20 Construction $9,348,939 Vista Rose Senior II Wasilla AK 42 Construction $7,621,333 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 27 08/24/2021 Page 125 Item#1. Property Development Cost Bow Street Apts I Elk Grove CA 50 Construction $15,575,796 Bow Street Apts II Elk Grove CA 48 Construction $11,551,898 PATH Eucalyptus Villas Inglewood CA 40 Construction $15,465,786 Healdsburg Glen Healdsburg CA 20 Construction $10,479,697 Brunswick Street Daly City CA 206 Construction $92,082,952 New Path Community Boise ID 41 Construction $7,533,047 Housing Cottonwood Meadows Eagle ID 48 Construction $9,305,277 Prelude at Paramount Meridian ID 272 Construction $43,387,000 Bella Terra Anchorage AK 32 Construction $5,500,000 Eagle Lakes Eagle ID 250 Construction $46,472,000 Napa Courtyards Napa CA 20 InDev $8,176,685 Adare Manor Boise ID 134 InDev $27,229,431 Las Brisas Caldwell ID 48 InDev $9,591,681 Kenolio Apartments Maui HI 186 InDev $85,449,680 Martin Street Lakeport CA 24 InDev $8,691,458 First Point I Santa Ana CA 346 InDev $153,172,622 First Point II Santa Ana CA 206 InDev $98,236,515 Villa Court Santa Ana CA 418 InDev $147,594,669 International Station Oakland CA 324 InDev $113,179,623 Parkside at Vast Oak Rohnert Park CA 218 InDev $81,955,117 Garden Brook Senior Village Garden Grove CA 400 InDev $140,128,598 Village at Burlingame Burlingame CA 132 InDev $84,361,190 Malan Street II Brawley CA 40 InDev $14,400,000 Magnolia Senior Apartments Greenfield CA 32 InDev $8,300,000 11 Cinnamon Villas II Lemoore CA 28 InDev $5,700,000 Vine Creek Temecula CA 60 InDev $19,425,847 Parkway Apartments Folsom CA 72 InDev $20,000,000 Kristen Court II Live Oak CA 24 InDev $7,431,484 Arroyo Del Camino II Avenal CA 36 InDev $8,973,423 Bella Vista Phase I Anchorage AK 104 InDev $19,743,094 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 28 08/24/2021 Page 126 Item#1. Property Development Cost Sycamore Ride Willows CA 24 Construction $9,903,214 El Dorado Family A is El Centro CA 24 Construction $9,928,054 Es eranza Village Madera CA 48 Construction $23,208,264 Ukiah Senior A is Ukiah CA 31 Construction $10,373,065 Brunswick Commons Grass Valley CA 41 Construction $15,675,309 Lone Oak Senior A is Penn Valley CA 31 Construction $10,635,342 Frishman Hollow II Truckee CA 68 Construction $29,813,454 The Gardens at Quail Run Elk Grove CA 96 Lease-Up $29,612,049 Glen Loma Ranch Gilroy CA 158 Construction $89,885,491 Virginia Street San Jose CA 301 Construction $125,616,194 Ocean Street A is Santa Cruz CA 63 Construction $36,102,478 Cedar Grove A is Santa Rosa CA 96 Construction $43,467,587 Newhaven Court Yuba City CA 40 Stabilizing $13,161,583 Kenolio A is Maui HI 186 Stabilizing $91,252,346 Obsidian A is Redmond OR 192 Construction $42,138,703 Aspen Pines Wasilla AK 40 Construction $11,420,478 Deer Creek A is Chico CA 156 In Dev $49,995,700 Deer Creek A is II Chico CA 48 In Dev $17,198,232 Senator Connes A is Chico CA 162 In Dev $51,221,780 Ford Oaks A is Gridley CA 36 Construction $15,383,439 Mitchell Avenue Senior A is Oroville CA 36 Construction $12,323,761 Riverbend Family A is Oroville CA 72 Construction $27,924,707 Sanger Crossing A is II Sanger CA 36 Construction $16,165,164 Ocotillo Springs A is Brawley CA 75 Construction $28,200,632 Millview A is Ukiah CA 48 Construction $21,065,096 Lemos Pointe at Watson American Ranch Canyon CA 186 Construction $59,070,000 Courtyards at Kimball National City CA 131 Construction $86,218,161 Santa Maria Studios Santa Maria CA 160 Construction $40,272,000 Woodmark A is Sebastopol CA 84 In Dev $25,341,252 Cedar Lane PSH Olivehurst CA 41 Construction $17,544,278 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 29 08/24/2021 Page 127 Item#1. Property Development Cost Cedar Lane Family A is Olivehurst CA 108 Construction $33,583,970 Merita e Boise ID 82 In Dev $19,195,000 Old Town Lofts Meridian ID 103 Construction $20,022,128 Pomerelle Pointe Burley ID 48 In Dev $10,911,078 Pomerelle Pointe II Burley ID 48 In Dev $6,910,000 Lincoln Courtyards Jerome ID 30 In Dev $6,970,763 Arroyo Crossing Indio CA 184 In Dev $53,217,887 The Gardens at Quail Run II Elk Grove CA 100 In Dev $37,245,991 TOTALS $4,856,739,221 CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 30 08/24/2021 Page 128 Item#1. The Team The key leadership for this project is as follows: Joshua Evarts Managing Member, Novembrewhisky Properties, LLC Responsible for architectural design inputs to maintain historic elements for this project. Responsible for all related commercial leases and recruiting strategic business into our City Core. Caleb Roope M. President and Chief Executive Officer, The Pacific Companies Mr. Roope leads both the development and construction divisions of TPC. He will provide financial analysis, represent TPC throughout design and construction, and oversee project execution. Zack Deboi Chief Financial Officer, The Pacific Companies Mr. Deboi will be responsible for overseeing corporate finance, investing, and project profitability. He has led TPC's general contracting division, Pacific West Builders, Inc. since inception in 2003, and implements strategic initiatives including TPC's captive insurance company, subcontractor "quick payment" program, and a portfolio wide resident rewards platform. Denise Carter Chief Portfolio Officer, The Pacific Companies Ms. Carter is a founding team member and holds the role of Chief Portfolio Officer, responsible to protect and optimize the long-term physical and financial viability of the firm's 160+ operating properties. She works directly with property management companies to ensure that each property complies with the requirements of its financing structure, partners, and state agencies. Don Slattery Development Manager, The Pacific Companies ti. Mr. Slattery has been a Project Manager with The Pacific Companies since December 2004. He recently accepted the Development Manager position within Pacific West Communities. Don oversees every aspect of the project from the point of project funding until completion. His role includes coordinating environmental reviews, site planning including coordinating utility work, Geotech investigation, civil engineering, architectural design and entitlements. CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 31 08/24/2021 Page 129 Item#1. Exhibit A - Financial Pro Forma CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 32 08/24/2021 Page 130 Item#1. The Centennial Center A Mixed-Use Workforce Housing Community Meridian, ID Financial Pro Forma August 22, 2021 Prepared By: Caleb Roope The Pacific Companies 430 East State Street, Suite 100 Eagle, ID 83616 208.461.0022 x 3015 208.461.3267 fax calebrgtpchousing.com Page 131 Item#1. 812212021 DEVELOPMENT BUDGET The Civic Block Meridian, ID Project Cost Per Cost Per Depreciable Costs Unit Res. Sq. Ft. Basis Total Land Costs $ 657,800 $ 5,305 $ 4.42 XXXXXXXXXX Total Acquisition Costs $ - $ - $ - $ - New Construction and/or Rehabilitation Off-Site Work/ Utility Relocation $ 310,000 $ 2,500 $ 2.08 $ 310,000 Demolition Cost 140,000 1,129 0.94 - On Site Work 1,860,0 0 $ 15,000 12.49 1,860,000 Structures 21,878,0 0 _ 176,435 146.91 21,878,000 General Requirements 725,640 5,852 4.87 725,640 Contractor Overhead 483,760 3,901 3.25 483,760 Contractor Profit 1,209,400 9,753 8.12 1,209,400 Construction Contingency 1,400,000 7F 11,290 9.40 1,400,000 Total Construction Costs $ 28,006,800 $ 225,861 $ 188.07 $ 27,866,800 Financing Costs Lender Loan Interest $ 562,500 $ 4,536 $ 3.78 $ 562,500 Lender Loan Fee 187,500 1,512 1.26 187,500 Lender Costs (Legal, Etc.) 80,000 645 0.54 80,000 FHA MIP - $- - FHA Application & Inspection Fee - $- - MAP Lender Financing Fee - $- XXXXXXXXXX Tax Credit Fees - $- XXXXXXXXXX Bond Counsel - - $- XXXXXXXXXX Other Financing Costs - $- 7- - XXXXXXXXXX Total Financing Costs $ 830,000 $ 6,694 $ 5.57 $ 830,000 Soft Costs Architectural $ 500,000 $ 4,032 $ 3.36 $ 500,000 Engineering/Surveying/Environmental 120,000 968 0.81 120,000 Taxes During Construction 80,000 645 0.54 80,000 Insurance (Builder's Risk, GL) 420,100 3,388 2.82 420,100 Title & Recording 60,000 484 0.40 60,000 Borrower Attorney 50,000 403 0.34 50,000 Appraisal 10,000 81 0.07 10,000 Local Tap, Building Permit, & Impact Fees 1,276,000 10,290 8.57 1,276,000 Marketing 100,000 806 0.67 XXXXXXXXXX Relocation Costs - $- XXXXXXXXXX Furnishings 40,000 323 0.27 40,000 Accounting 107000 81 0.07 10,000 Market Study 10,000 F 81 0.07 10,000 Soft Cost Contingency 100,000 806 0.67 100,000 Developer Fee 941,000 7,589 6.32 941,000 Consultant Fee - $- - Total Soft Costs $ 3,717,100 $ 29,977 $ 24.96 $ 3,617,100 Reserves Lease-Up Interest $ 100,000 $ 806 $ 0.67 XXXXXXXXXX Operating Deficit Reserve (3 Months) 44T761 3,611 3.01 XXXXXXXXXX Total Reserve Costs $ 547,761 $ 4,417 $ 3.68 XXXXXXXXXX Totals $ 33,759,461 $ 272,254 $ 226.70 $ 32,313,900 Page 132 Item#1. 812212021 SOURCES & USES The Civic Block Meridian, ID CONSTRUCTION PHASE PERMANENT PHASE Sources of Funds Sources of Funds Sponsor Equity $ 15,009,461 Sponsor Equity $ 15,009,461 Other $ - Construction to Permanent Loan $ 18,750,000 Other $ - Other $ - Other $ - Other $ - Other $ - Other $ - Other $ - Other $ - Deferred Costs $ - Other $ - Deferred Contractor Profit $ - Other $ - Deferred Developer Fee $ - Other $ - Construction Loan $ 18,750,000 Other $ - Total Sources of Funds $ 33,759,461 Total Sources of Funds $ 33,759,461 Uses of Funds Uses of Funds Total Land Costs $ 657,800 Total Land Costs $ 657,800 Total Acquisition Costs $ - Total Acquisition Costs $ - New Construction and/or Rehabilitation $ 26,606,800 New Construction and/or Rehabilitation $ 26,606,800 Construction Contingency $ 1,400,000 Construction Contingency $ 1,400,000 Financing Costs $ 830,000 Financing Costs $ 830,000 Architecture& Engineering $ 620,000 Architecture& Engineering $ 620,000 Other Soft Costs $ 2,056,100 Other Soft Costs $ 2,056,100 Developer Fees $ 941,000 Developer Fees $ 941,000 Soft Cost Contingency $ 100,000 Soft Cost Contingency $ 100,000 Reserves $ 547,761 Reserves $ 547,761 Total Uses of Funds $ 33,759,461 Total Uses of Funds $ 33,759,461 Page 133 OPERATING & LOAN DETAILS Item#1. Fl rojec : The Civic Block Location: Meridian,ID 8/22/202111 AMI Number Avg. Unit Gross Utility Net Monthly Annual Type Rent Level of Units Sq. Ft. Rent Allowance Rent Totals Totals 1BR/1BA 0% 0 0 0 0 0 0 0 1BR/1BA 0% 0 0 0 0 0 0 0 1BR/1BA 0% 0 0 0 0 0 0 0 1BR/1BA Market 62 700 1,100 0 1,100 68,200 818,400 2BR/1BA 0% 0 0 0 0 0 0 0 2BR/1BA 0% 0 0 0 0 0 0 0 2BR/1BA 0% 0 0 0 0 0 0 0 2BR/1BA Market 61 900 1,325 0 1,325 80,825 969,900 3BR/2BA 0% 0 0 0 0 0 0 0 3BR/2BA 0% 0 0 0 0 0 0 0 3BR/2BA 0% 0 0 0 0 0 0 0 3BR/2BA Market 0 0 0 0 0 0 0 4BR/2BA 0% 0 0 0 0 0 0 0 4BR/2BA 0% 0 0 0 0 0 0 0 4BR/2BA 0% 0 0 0 0 0 0 0 4BR/2BA Market 0 0 0 0 0 0 0 2BR/1BA Manager's 1 900 0 0 0 0 0 Total Units&Sq.Ft. 124 99,200 %of Sq.Ft. %of Units $ 149,025 $ 1,788,300 Common Area/Office 49,720 Affordable Affordable Total Project Sq.Ft. 148, 220 1 0.00%11 0.00% Total Annual Rental Income $1,788,300 Operating Deficit Guarantee 10%of Perm. $ 1,875,000 Other Income Year 1 Op.Exp. $ 651,000 Laundry,Tenant Charges,Etc./Unit/Year $ 300 $ 37,200 Guarantee $ 1,875,000 Office Space NNN Income(15,000 sf x$20) $ 300,000 Total Annual Other Income $ 337,200 Replacement Reserves Total Annual Potential Gross Income $2,125,500 Standard/Unit $ 250 Vacany&Collection Loss 5% $ (106,275) Other Min/Unit $ 500 Reserve/Unit $ 250 Annual Effective Gross Income $2,019,225 Project Unit Mix Unit Tye INumber %of Total 1 Bdrm./l Bath. 62 50.00% 2 Bdrm./1 Bath. 62 50.00% 3 Bdrm./2 Bath. 0 0.00% 4 Bdrm./2 Bath. 0 0.00% Totals 124 100.00% Page 134 OPERATING & LOANDETAILS (continued) ANNUAL EXPENSES %of Annual %of Total EGI Operating Exp. Per Unit Total Real Estate Taxes& Special Assessments 8.52% 26.42% $ 1,387.00 $ 172,000 Other Taxes 0.08% 0.25% $ 13.00 $ 1,600 Insurance 1.23% 3.81% $ 200.00 $ 24,800 Licenses 0.02% 0.05% $ 3.00 $ 350 Fuel&Gas 0.08% 0.25% $ 13.00 $ 1,600 Electricity 1.29% 4.00% $ 210.00 $ 26,000 Water&Sewer 3.22% 10.00% $ 525.00 $ 65,100 Trash Removal 1.45% 4.50% $ 236.00 $ 29,300 Pest Control 0.08% 0.26% $ 14.00 $ 1,700 Building&Maintenance Repairs 2.58% 8.00% $ 420.00 $ 52,100 Building&Maintenance Supplies 1.29% 4.00% $ 210.00 $ 26,000 Supportive Services 0.00% 0.00% $ - $ - Annual Issuer&Trustee Fees 0.00% 0.00% $ - $ - Gardening&Landscaping 1.61% 5.00% $ 263.00 $ 32,600 Management Fee 4.00% 10.34% $ 543.00 $ 67,300 On-Site Manager(s) 2.95% 9.14% $ 480.00 $ 59,520 Other Payroll 0.80% 2.50% $ 131.00 $ 16,200 Manager's Unit Expense 0.00% 0.00% $ - $ - Cleaning Supplies 0.33% 1.00% $ 53.00 $ 6,600 Benefits 0.10% 0.31% $ 16.00 $ 2,000 Payroll Taxes&Work Comp 0.86% 2.67% $ 140.00 $ 17,400 Advertising 0.33% 1.00% $ 53.00 $ 6,600 Telephone 0.07% 0.23% $ 12.00 $ 1,500 Legal&Accounting 0.30% 0.92% $ 48.00 $ 6,000 Operating Reserves 0.00% 0.00% $ - $ - Office Supplies&Expense 0.07% 0.23% $ 12.00 $ 1,500 Miscellaneous Administrative 0.11% 0.36% $ 18.00 $ 2,230 Replacement Reserver 1.54% 4.76% $ 250.00 $ 31,000 Annual Expenses-Per Unit&Total $ 5,250 $ 651,000 Annual Net Operating Income-Per Unit&Total $ 11,034 $1,368,225 PERMANENT FIRST MORTGAGE ANALYSIS LTV Restricted Loan Amounts DSC Ratio Restricted Loan Amounts Cap Rate 5.500% 6.000% 6.500% ** ** Fixed Loan Loan-To-Value Restriction 80% 80% 80% 1 Amount Debt Service Coverage 1.13 1.23 1.34 1.25 1.20 11 1.20 Loan Amount $ 19,901,455 $ 18,243,000 $ 16,839,692 $ 18,002,298 $ 18,752,394 1 $ 18,750,000 Constant ** ** ** 11 0.06080211 0.06080211 0.060802 Interest Rate 4.500% 4.500% 4.500% 4.500% 4.500% 4.500% Amortization Period in Years 30 30 30 30 30 30 Annual Debt Service $ 1,210,053 $ 1,109,215 $ 1,023,891 $ 1,094,580 $ 1,140,188 $ 1,140,042 Annual Cash Flow $ 158,172 $ 259,010 $ 344,334 $ 273,645 $ 228,037 $ 228,183 Loan Selection 0 11 11 11x Page 135 JRENTAL Civic Block Meridian,ID 8/22/2021 ►tem# lti-Year Stabilized Operating Pro-Forma Net Rent/ No.of Annual Year Year Year Year Year INCOME %AMI Unit-Year 1 Units Increase 1 2 3 4 5 1BR/1BA 0% 0 0 2.5% 1BR/1BA 0% 0 0 2.5% 1BR/1BA 0% 0 0 2.5% - - - - - 1BR/lBA Market 1,100 62 2.5% 818,400 838,860 859,832 881,327 903,360 2BR/1BA 0% 0 0 2.5% - - - - - 2BR/1BA 0% 0 0 2.5% 2BR/1BA 0% 0 0 2.5% 2BR/1BA Market 1,325 61 2.5% 969,900 994,148 1,019,001 1,044,476 1,070,588 3BR/2BA 0% 0 0 2.5% - - - - - 3BR/2BA 0% 0 0 2.5% 3BR/2BA 0% 0 0 2.5% 3BR/2BA Market 0 0 2.5% 4BR/2BA 0% 0 0 2.5% 413R/2BA 0% 0 0 2.5% 413R/2BA 0% 0 0 2.5% 413R/2BA Market 0 0 2.5% 2BR/1BA Manager's 0 1 2.5% TOTAL RENTAL INCOME 124 1,788,300 1,833,008 1,878,833 1,925,804 1,973,949 OTHER INCOME Units Incr./Yr. Year-1 Year-2 Year-3 Year4 Year-5 Laundry,Tenant Charges,Etc./Unit/Year 124 2.5% 37,200 38,130 39,083 40,060 41,062 Office Space NNN Income(15,000 sfx$20) 124 2.5% 300,000 307,500 315,188 323,067 331,144 TOTAL OTHER INCOME 337,200 345,630 354,271 363,128 372,206 TOTAL INCOME 2,125,500 1 2,178,638 2,233,103 2,288,931 2,346,154 Less Vacancy Allowance 5% (106,275) (108,932) (111,655) (114,447) (117,308) GROSS INCOME 2,019,225 2,069,706 2,121,448 2,174,484 2,228,846 OPERATING EXPENSES Per Unit-Yr.1 %EGI Incr./Yr. Year-1 Year-2 Year-3 Year4 Year-5 Real Estate Taxes&Special Assessments $ 1,387 8.5% 2.0% 172,000 175,440 178,949 182,528 186,178 Other Taxes $ 13 0.1% 3.5% 1,600 1,656 1,714 1,774 1,836 Insurance $ 200 1.2% 3.5% 24,800 25,668 26,566 27,496 28,459 Licenses $ 3 0.0% 3.5% 350 362 375 388 402 Fuel&Gas $ 13 0.1% 3.5% 1,600 1,656 1,714 1,774 1,836 Electricity $ 210 1 1.3% 3.5% 26,000 26,910 27,852 28,827 29,836 Water&Sewer $ 525 3.2% 3.5% 65,100 67,379 69,737 72,178 74,704 Trash Removal $ 236 1.5% 3.5% 29,300 30,326 31,387 32,485 33,622 Pest Control $ 14 0.1% 3.5% 1,700 1,760 1,821 1,885 1,951 Building&Maintenance Repairs $ 420 2.6% 3.5% 52,100 53,924 55,811 57,764 59,786 Building&Maintenance Supplies $ 210 1.3% 3.5% 26,000 26,910 27,852 28,827 29,836 -Supportive Services $ - 0.0% 3.5% - - - - - Annual Issuer&Trustee Fees $ - 0.0% 3.5% - - - - - Gardening&Landscaping $ 263 1.6% 3.5% 32,600 33,741 34,922 36,144 37,409 Management Fee $ 543 3.3% 3.5% 67,300 69,656 72,093 74,617 77,228 On-Site Manager(s) $ 480 2.9% 3.5% 59,520 61,603 63,759 65,991 1 68,301 Other Payroll $ 131 0.8% 3.5% 16,200 16,767 17,354 17,961 18,590 Manager's Unit Expense $ - 0.0% 3.5% - - - - - Cleaning Supplies $ 53 1 0.3% 3.5% 6,600 6,831 7,070 7,318 7,574 Benefits $ 16 0.1% 3.5% 2,000 2,070 2,142 2,217 2,295 Payroll Taxes&Work Comp $ 140 0.9% 3.5% 17,400 18,009 18,639 19,292 19,967 Advertising $ 53 0.3% 3.5% 6,600 6,831 7,070 7,318 7,574 Telephone $ 12 0.1% 3.5% 1,500 1,553 1,607 1,663 1,721 Legal&Accounting $ 48 0.3% 3.5% 6,000 6,210 6,427 6,652 6,885 Office Supplies&Expense $ 12 0.1% 3.5% 1,500 1,553 1,607 1,663 1,721 Miscellaneous Administrative $ 18 0.1% 3.5% 2,230 2,308 2,389 2,472 2,559 TOTAL OPERATING EXPENSES $ 5,000 620,000 639,120 658,858 679,233 700,269 Replacement Reserves $ 250 0.0% 31,000 31,000 31,000 31,000 31,000 Operating Reserves $ - 0.0% - - - - TOTAL EXPENSES&RESERVES $ 5,250 651,000 670,120 689,858 710,233 731,269 MDC TIF Income 50.0% 86,000 87,720 89,474 91,264 93,089 CASH FLOW AVAILABLE FOR DEBT SERVICE 1,454,225 1,487,306 1,521,065 1,555,515 1,590,667 DEBT SERVICE&OTHER DISTRIBUTIONS Loan Amount Year-1 Year-2 Year-3 Year-4 Year-5 Construction to Permanent Loan Hard $ 18,750,000 1,140,042 1,140,042 1,140,042 1,140,042 1,140,042 Other Soft $ - - - - - Other Soft $ Other Soft $ Other Soft $ Other Soft $ Other Soft $ Other Soft $ ANN UAL NETCASH FLOW 314,183 347,264 381,023 415,473 450,625 Debt Service Coverage Ratio on Hard Debt 1.28 1 1.31 1 1.33 1 Page 136 he Civic Block Meridian,ID item#i. ulti-Year Stabilized Operating Pro-Forma Net Rent/ No.of Annual Year Year Year Year Year RENTAL INCOME %AMI Unit-Year 1 Units Increase 6 7 8 9 10 1BR/1BA 0% 0 0 2.5% 1BR/1BA 0% 0 0 2.5% 1BR/1BA 0% 0 0 2.5% - - - - 1BR/lBA Market 1,100 62 2.5% 925,944 949,093 972,820 997,141 1,022,069 2BR/1BA 0% 0 0 2.5% - - - - - 2BR/1BA 0% 0 0 2.5% 2BR/1BA 0% 0 0 2.5% 2BR/1BA Market 1,325 61 2.5% 1,097,353 1,124,787 1,152,906 1,181,729 1,211,272 3BR/2BA 0% 0 0 2.5% - - - - - 3BR/2BA 0% 0 0 2.5% 3BR/2BA 0% 0 0 2.5% 3BR/2BA Market 0 0 2.5% 4BR/2BA 0% 0 0 2.5% 4BR/2BA 0% 0 0 2.5% 4BR/2BA 0% 0 0 2.5% 4BR/2BA Market 0 0 2.5% 2BR/1BA Manager's 0 1 2.5% TOTAL RENTAL INCOME 124 2,023,297 2,073,880 2,1259727 291789870 292339342 OTHER INCOME Units Incr./Yr. Year-6 Year-7 Year-8 Year-9 Year-10 Laundry,Tenant Charges,Etc./Unit/Year 124 2.5% 42,088 43,141 44,219 45,325 46,458 Office Space NNN Income(15,000 sf x$20) 124 2.5% 339,422 347,908 356,606 365,521 374,659 TOTAL OTHER INCOME 381,511 391,049 400,825 410,845 421,117 TOTAL INCOME 2,404,808 2,464,928 2,526,552 2,589,715 2,654,458 Less Vacancy Allowance 5% (120,240) (123,246) (126,328) (129,486) (132,723) GROSS INCOME 292849568 293419682 294009224 2,4609229 2,521,735 OPERATING EXPENSES Per Unit-Yr.1 %EGI Incr./Yr. Year-6 Year-7 Year-8 Year-9 Year-10 Real Estate Taxes&Special Assessments $ 1,387 8.5% 2.0% 189,902 193,700 197,574 201,525 205,556 Other Taxes $ 13 0.1% 3.5% 1,900 1,967 2,036 2,107 2,181 Insurance $ 200 1.2% 3.5% 29,455 30,486 31,553 32,657 33,800 Licenses $ 3 0.0% 3.5% 416 430 445 461 477 Fuel&Gas $ 13 0.1% 3.5% 1,900 1,967 2,036 2,107 2,181 Electricity $ 210 1.3% 3.5% 30,880 31,961 33,079 34,237 35,435 Water&Sewer $ 525 3.2% 3.5% 77,318 80,025 1 82,825 85,724 88,725 Trash Removal $ 236 1.5% 3.5% 34,799 36,017 37,278 38,583 39,933 Pest Control $ 14 0.1% 3.5% 2,019 2,090 2,163 2,239 2,317 Building&Maintenance Repairs $ 420 2.6% 3.5% 61,878 64,044 66,286 68,606 71,007 Building&Maintenance Supplies $ 210 1.3% 3.5% 30,880 31,961 33,079 34,237 35,435 Supportive Services $ - 0.0% 3.5% - - - - - Annual Issuer&Trustee Fees $ - 0.0% 3.5% - - - - - Gardening&Landscaping $ 263 1.6% 3.5% 38,719 40,074 41,476 42,928 44,430 Management Fee $ 543 3.3% 3.5% 79,931 82,729 85,624 88,621 91,723 On-Site Manager(s) $ 480 2.9% 3.5% 70,691 73,165 75,726 78,376 81,120 Other Payroll $ 131 0.8% 3.5% 19,241 19,914 20,611 21,332 22,079 Manager's Unit Expense $ - 0.0% 3.5% - - - - - Cleaning Supplies $ 53 1 0.3% 3.5% 7,839 8,113 8,397 8,691 8,995 Benefits $ 16 0.1% 3.5% 2,375 1 2,459 2,545 2,634 2,726 Payroll Taxes&Work Comp $ 140 0.9% 3.5% 20,666 21,389 22,138 22,912 23,714 Advertising $ 53 0.3% 3.5% 7,839 8,113 8,397 8,691 1 8,995 Telephone $ 12 0.1% 3.5% 1,782 1,844 1,908 1,975 2,044 Legal&Accounting $ 48 0.3% 3.5% 7,126 7,376 7,634 7,901 8,177 Office Supplies&Expense $ 12 0.1% 3.5% 1,782 1,844 1,908 1,975 2,044 Miscellaneous Administrative $ 18 0.1% 3.5% 2,649 2,741 2,837 2,936 3,039 TOTAL OPERATING EXPENSES $ 5,000 721,985 744,406 767,555 791,456 816,134 Replacement Reserves $ 250 0.0% 31,000 31,000 31,000 31,000 31,000 Operating Reserves $ - 0.0% - - - - TOTAL EXPENSES&RESERVES $ 5,250 752,985 775,406 798,555 822,456 847,134 MDC TIF Income 50.0% 94,951 96,850 98,787 100,763 102,778 CASH FLOW AVAILABLE FOR DEBT SERVICE 1,626,534 1,663,126 1,700,455 1,738,536 1,777,379 DEBT SERVICE&OTHER DISTRIBUTIONS Loan Amount Year-6 Year-7 Year-8 Year-9 Year-10 Construction to Permanent Loan Hard $ 18,750,000 1,140,042 1,140,042 1,140,042 1,140,042 1,140,042 Other Soft $ - - - - - - Other Soft $ Other Soft $ Other Soft $ Other Soft $ Other Soft $ Other Soft $ 486,492 523,084 560,413 598,494 Debt Service Coverage Ratio on Hard Debt 1.43 1.46 1.49 1.5 Page 137 he Civic Block Meridian,ID item#i. ulti-Year Stabilized Operating Pro-Forma Net Rent/ No.of Annual Year Year Year Year Year RENTAL INCOME %AMI Unit-Year 1 Units Increase 11 12 13 14 15 1BR/1BA 0% 0 0 2.5% 1BR/1BA 0% 0 0 2.5% 1BR/1BA 0% 0 0 2.5% - - - - 1BR/lBA Market 1,100 62 2.5% 1,047,621 1,073,812 1,100,657 1,128,173 1,156,378 2BR/1BA 0% 0 0 2.5% - - - - - 2BR/1BA 0% 0 0 2.5% 2BR/1BA 0% 0 0 2.5% 2BR/1BA Market 1,325 61 2.5% 1,241,554 1,272,593 1,304,408 1,337,018 1,370,443 3BR/2BA 0% 0 0 2.5% - - - - - 3BR/2BA 0% 0 0 2.5% 3BR/2BA 0% 0 0 2.5% 3BR/2BA Market 0 0 2.5% 4BR/2BA 0% 0 0 2.5% 4BR/2BA 0% 0 0 2.5% 4BR/2BA 0% 0 0 2.5% 4BR/2BA Market 0 0 2.5% 2BR/1BA Manager's 0 1 2.5% TOTAL RENTAL INCOME 124 2,2899175 2,346,405 2,405,065 294659191 295269821 OTHER INCOME Units Incr./Yr. Year-I I Year-12 Year-13 Year-14 Year-15 Laundry,Tenant Charges,Etc./Unit/Year 124 2.5% 47,619 48,810 50,030 51,281 52,563 Office Space NNN Income(15,000 sf x$20) 124 2.5% 384,025 393,626 403,467 413,553 423,892 TOTAL OTHER INCOME 431,645 442,436 453,497 464,834 476,455 TOTAL INCOME 2,720,820 2,788,840 2,858,561 2,930,025 3,003,276 Less Vacancy Allowance 5% (136,041) (139,442) (142,928) (146,501) (150,164) GROSS INCOME 295849779 296499398 297159633 2,783,524 2,853,112 OPERATING EXPENSES Per Unit-Yr.1 %EGI Incr./Yr. Year-I I Year-12 Year-13 Year-14 Year-15 Real Estate Taxes&Special Assessments $ 1,387 8.5% 2.0% 209,667 213,860 218,138 222,500 226,950 Other Taxes $ 13 0.1% 3.5% 2,257 2,336 2,418 2,502 2,590 Insurance $ 200 1.2% 3.5% 34,983 36,207 37,475 38,786 40,144 Licenses $ 3 0.0% 3.5% 494 511 529 547 567 Fuel&Gas $ 13 0.1% 3.5% 2,257 2,336 2,418 2,502 2,590 Electricity $ 210 1.3% 3.5% 36,676 37,959 39,288 40,663 42,086 Water&Sewer $ 525 3.2% 3.5% 91,830 95,044 98,371 101,814 105,377 Trash Removal $ 236 1.5% 3.5% 41,331 42,777 44,274 45,824 47,428 Pest Control $ 14 0.1% 3.5% 2,398 2,482 2,569 2,659 2,752 Building&Maintenance Repairs $ 420 2.6% 3.5% 73,492 76,064 78,727 81,482 84,334 Building&Maintenance Supplies $ 210 1.3% 3.5% 36,676 37,959 39,288 40,663 42,086 Supportive Services $ - 0.0% 3.5% - - - Annual Issuer&Trustee Fees $ - 0.0% 3.5% - - - - - Gardening&Landscaping $ 263 1.6% 3.5% 45,986 47,595 49,261 50,985 52,769 Management Fee $ 543 3.3% 3.5% 94,933 98,256 101,695 105,254 108,938 On-Site Manager(s) $ 480 2.9% 3.5% 83,959 86,897 89,939 93,087 96,345 Other Payroll $ 131 0.8% 3.5% 22,852 23,652 24,479 25,336 26,223 Manager's Unit Expense $ - 0.0% 3.5% - - - - - Cleaning Supplies $ 53 1 0.3% 3.5% 9,310 1 9,636 9,973 10,322 1 10,683 Benefits $ 16 0.1% 3.5% 2,821 2,920 3,022 3,128 3,237 Payroll Taxes&Work Comp $ 140 0.9% 3.5% 24,544 25,403 26,293 27,213 28,165 Advertising $ 53 0.3% 3.5% 9,310 9,636 9,973 10,322 10,683 Telephone $ 12 0.1% 3.5% 2,116 2,190 2,267 2,346 2,428 Legal&Accounting $ 48 0.3% 3.5% 8,464 8,760 9,066 9,384 9,712 Office Supplies&Expense $ 12 0.1% 3.5% 2,116 2,190 2,267 2,346 2,428 Miscellaneous Administrative $ 18 0.1% 3.5% 3,146 1 3,256 3,370 3,488 3,610 TOTAL OPERATING EXPENSES $ 5,000 841,615 867,927 895,096 923,153 952,125 Replacement Reserves $ 250 0.0% 31,000 31,000 31,000 31,000 31,000 Operating Reserves $ - 0.0% - - - - - TOTAL EXPENSES&RESERVES $ 5,250 872,615 898,927 926,096 954,153 983,125 MDC TIF Income 50.0% 104,834 106,930 109,069 111,250 113,475 CASH FLOW AVAILABLE FOR DEBT SERVICE 1,816,997 1,857,402 1,898,606 1,940,622 1,983,462 DEBT SERVICE&OTHER DISTRIBUTIONS Loan Amount Year-I I Year-12 Year-13 Year-14 Year-15 Construction to Permanent Loan Hard $ 18,750,000 1,140,042 1,140,042 1,140,042 1,140,042 1,140,042 Other Soft $ - - - - - - Other Soft $ Other Soft $ Other Soft $ Other Soft $ Other Soft $ Other Soft $ 676,955 717,360 71843,420 Debt Service Coverage Ratio on Hard Debt 1.59 1.63 1.67 =Pa 8 Item#1. Exhibit B - Enterprise Financial Overview CIVIC BLOCK PROJECT 2021 RFP RESPONSE— 33 08/24/2021 Page 139 Item#1. ` THE PAC F I C COMPANIES Enterprise Financial Overview Pacific West Communities, Inc. and Pacific West Builders, Inc. Combined Statement of Assets,Liabilities and Stockholders'Equity-Tax Basis December 31,2019,2018,and 2017 Ir 2019 2018 2017 Assets Current Assets Caleb Roope Cash $ 26,328,702$ 20,338,981 $18,792,623 Cash-Project Checking Accounts 28,178,814 3,083,006 15,769,318 President and CEO Short Term Investments-Loans to Related Parties 46,893,396 38,258,920 4,814,920 Investment in Marketable Securities 1,109,964 1,078,214 1,050,798 Construction Contract Receivables(including retention) 18,790,042 24,940,365 3,725,735 Costs&Profits in Excess of Billings 530,278 129,515 79,284 Total Current Assets 120,831,196 87,829,001 44,232,678 Long Term Assets Property,plant and equipment,net of accumulated depreciation 186,422 196,577 197,718 Due from related parties 36,723,686 28,807,020 424,095 Development in Progress 43,020,067 14,504,316 15,202,119 Investments 6,863,685 11,495,668 6,604,253 Other long term assets-Deposits 29,546 29,546 29,546 Total Assets $207,653,602$ 142,862,128$66,690,409 Liabilities and Stockholders'Equity Curren!Liabilities Accounts payable and accrued liabilities $ 44,526,468$ 27,215,062$19,810,909 Boston Bank&Trust Line of Credit 5,000,000 900,000 - i Billings in Excess of Costs and Profits 6,611,112 5,368,138 4,399,954 Due to related parties 64,046,750 37,145,338 29,347,149 Total Current Liabilities 119,084,320 70,628,538 53,558,012 - -�� Stockholders'Equity _- Common stock 2,000 2,000 2,000 % > Retained earnings 88,567,282 72,231,590 13,130,397 - r Total Stockholders'Equity 88,669,282 72,233,590 13,132,397 Total Liabilities and Stockholders'Equity $207,653,602$ 142,862,128$66,690, 009 Creating healthy environments to live and learn since 1998 lr6Wfi 4[AEtl6ln AEl�EtlT it I I r , \\� Page 140 Item#1. THE P A C I F I C COMPANIES Consolidated Income Statement 2019 2018 z0t7 Revenue Construction Income $ 258,606,014 $ 249,744.557 $ 121.670,481 Developer Fees 6,469,746 4.917.774 5.047,818 Misc Income 1,345,801 1.262,498 1,393,195 Refunds 479,766 901,022 468,162 Architecture Income 1,064,770 384,332 827,004 Land Sales - 513.113 - Total revenue 267,966,087 257.723.296 129.404,660 Cost of goods sold Direct&Indirect Construction Expenses 244,769,149 241,016,944 114,617,348 Gross profit 23,206,938 16,706.352 14.787.312 Operating expenses Advertising and promotion 1,640 675 1,136 Salaries and wages-Construction 1,339,662 1,056.722 022.083 Salaries and wages-Development 2,682,046 2,344,062 1.857,796 Insurance 61,443 52.347 Office expenses 610,471 570,782 354.805 Postage&Shipping 62,891 52,421 39,052 Utilities 29,294 22,684 21,146 Property Taxes 1,600 41,825 24,368 . Other operating expenses 7,940 2.039 2,290 - Employee benefits 247,159 237.051 204,477 1�V91 Professional fees 387,350 360.230 425,163 z Repairs and maintenance 23,518 17.005 20,175 i Depreciation 116,919 28,781 28,490 Interest and bank charges 1,733,136 122.063 428,232 Memberships and licenses 197,588 274,690 166,113 Rent 265,860 54,000 221,672 Travel&Entertainment expenses 242,946 169,823 168,575 Blueprint Expense 73,971 93.193 137,985 Consulting 798,372 758.311 630,356 r" r Failed Project Expense - 2.326.772 410,831 T 4 R•.. Telephone 83,305 68.715 41,506 Q Development Deficit Guarantees - 25,371 Total operating expenses 8,967,109 8,654,191 6.331,622 ®� Income from operations 14,238,829 8.052.161 8,455,890 Other income(expense) . Property&Liability Insurance Expense (413.828) (717,932) (404,820) Legal Settlements - (621,685) - Gains{losses}on sale of Investments 1,963,130 (1,676) 318.695 _.; - •1 Interest income 1,594,825 137,973 44,758 I Dividend Income - - 31,961 n Partnership Income 440,644 4.021.236 (96,010) Total other income(expense) 3,574,771 2,817,916 (105,416) Net Income before state income tax 17,813,600 10,870,077 8,350,274 State income taxes 111,417 70,397 118.917 Net income 17,702,183 10,799.680 8,231.357 Retained eamings-Beginning of Year 71,315,099 41,523,577 42,079,040 Withdrawals by Stockholders (450,000) (5,376,005) (8,832,851) liio Prior period adjustments - 25,284,338 Retained earnings-End of Year S 88,687,282 $ 72,231,590 $ 41,477,546430 E.State Street,Ste.100 1 Eagle,I D 83616www.tpchousing.com age 141 THE PACIFIC COMPANIES Meridian Civic Block RFP — Centennial Center Oral Presentation —Caleb Roope/Josh Evarts October 5t"1 2021 Presentation Contents • Team Overview • Proposal Win Themes • Project Scorecard • Proposal Highlights • Q&A www.tpcho� Ako THE PACIFIC 13 COMPANIES c o c a W • The Pacific Companies • Novembrewhisky Properties • Caleb Roope • Josh Evarts — Founded in 1998, The — Founded in 2013 to Pacific Companies is a specifically, "make strategic privately-held group of investments into Old Town firms dedicated to Meridian through the excellence in multifamily acquisition and restoration housing and mixed-use of historic properties." We developments. Our teams expanded this vision in deliver across a continuum 2014 to include the of real estate specialties "courtship of strategic including feasibility business partners who analysis, development, offer value-added equity to design, finance, our developments." construction, and asset management. www.tpchousing.com _ TPC Overview Services & Divisions - -- • Real Estate Development s - • Financing (Internal & External Capital Sources) ' • Architecture I�ii f • Construction • Asset Management & Ownership • Captive Insurance Services www.tpcho TPC's Vertical Integration produces Collaboration / Innovauun / Soundness / Efficiency C111111 REAL ESTATE FINANCING ARCHITECTURAL • • DEVELOPMENT 100+ person cross-disciplinary staff Strategy and operations advisory team Emergency succession plan and team in place WWWAPcho r� TPC Accomplishments 1998-2021 • Involved in 250+ Projects • $4.813 in Asset Value Produced / Owned • Approaching 20,000 Multi-Family Units � e • Over 1 Million Sq . Ft. of Office/Special-Use/Retail -- . $400 Million+ in Annual Revenues Y�. • Locally Based, Geographically Diverse - �` • No Defaults, Foreclosures, Bankruptcies WWWAPcho Proposal Win Themes 1 . Aligned Vision 2. Low Risk www.tpchousing.c Item#1. IIYq fu _ry .s . ,.e..,.�... � .......ry�.. ..a •Ill ., IASKLM + {$. DD: Title DD: Description TPC 2 - 4 Story Infill and Restoration Encourage infill development in the district and develop vacant ✓ and underutilized parcels. Traditional Architecture Themes Promote the use of traditional architecture themes that conform ✓ to the historic character of the downtown. Continuous Urban Edge Create a strong street wall by requiring zero lot line ✓ development in this district. Vertical & Horizontal Integration of Emphasize a vertical integration of uses in this district to create ✓ Uses a diverse mixed-use atmosphere. Preserve Downtown Housing Encourage the development of live/work units to bring ✓ people downtown and to promote local businesses, and ensure 24-7 activity Page 149 Item#1. MDC Goals Proposed Project Strengthening the economic base of the 15,000 sq. ft. of leasable commercial space that is intimately aligned with the vision of area and community and stimulating new Destination Meridian. Targeting the acquisition of commercial businesses looking for commercial expansion, employment and 5,000 sq. ft. spaces in a downtown core. economic growth. Strengthening the tax base by A projected $34M valued physical property being added to the tax roll for the Ada encouraging private development and County Assessor (when land values are added to the valuation) for the entire Site increasing the assessed values of Plan. properties within the district. Eliminating of obsolete building types and The existing community building and park have exhausted their useful life and must inadequate public improvements and be demolished to accommodate this proposed project. This project will also include facilities. any requisite improvements to the existing public facilities. Promoting modern integrated development Our Site Plan provides sufficient parking to accommodate the proposed with appropriate setbacks, parking, and commercial/residential parking requirements. pedestrian and vehicle circulation. Providing unity and integrity of design We are inviting MDC/City to participate in the design elements of this project to in the district. ensure continuity with our municipal partners. Promoting an improved environment for This project will continue our investment into Old Town Meridian, thus continuing to be new commercial and residential the catalyst for future investments. developments. Page 150 Low Risk • Trusted/Local Experience — Complete understanding and track record of doing successful urban renewal in Boise, Meridian , Caldwell and Eagle. • Vertically Integrated — TPC maintains all the requisite development skills to drive the project from inception to stabilization . • Long-Term Partner — TPC holds ownership of developed projects. • Financial Capacityy— Liquidity and Net Worth of over $40M and $ 100M respectively as of 12/31 /20. Our large portfolio and long-standing relationships with numerous lenders and investors attract the most competitive financing terms available. 25 projects under construction 2021 , 20+ slated for 2022 . www.tpcho L. i • Joint Design / Messaging — TPC is inviting MDC and the City Pr to work with our design - 41jit Lk team to ensure the — compatibility and functionality of Centennial Center with Downtown. y - This, along with the messaging and 7 community inputs, =I� ensures the largest possible support for a l ' project of this size. u . 1 . • T 41 � www.tpcho Project Score Card Scoring Rubric TPC Notes Is the proposal likely to deliver a signature, iconic Q The TPC Team has NOT failed mixed-use development that enhances the architectural character and vitality of Downtown to deliver development excellence to Old Town Meridian Meridian? _JJ This project adds over $33M Is the proposal likely to achieve substantial economic in taxable improvements to benefit to the community — Downtown Meridian. It provides especially those portions of the City located within over 15,000 sq. ft. of Class A Downtown Meridian? office space. It adds an additional 124 residential units to Downtown Meridian. Does the Respondent and its team have the qualifications and experience necessaryto successfully0 The TPC Team is singularly complete the proposed project . p � qualified to deliver this project. www.tpcho Project Score Card Scoring Rubric TPC Notes Does the Respondent have the financial ability and viable plan to complete the project in a timely Q Old Town Lofts Experience manner? Does the proposal substantially conform with the As covered, the Centennial Center is in complete alignment vision, goals and objectives of Destination Downtown, with these goals, AND we have the Meridian Revitalization and Union District Plans, invited our City partners to and the Comprehensive Plan for the City of Meridian? participate in the design. Does the proposal show commitment and detail regarding an appropriate Ian for the property or M The TPC Team is ready day re g g p p p y one to begin this project as properties and does the Respondent propose to detailed in our schedule. implement its plan in the immediate future? www.tpcho Item#1. • A , Ah Proposed Development Schedule Action / Event Begin End City selects finalist and negotiation of Development Agreement Oct 2021 April 2022 Inspect and complete due diligence investigations of the site Oct 2021 April 2022 Receive entitlement approvals and acquire property April 2022 Aug 2022 Design documents and development Aug 2022 Oct 2022 Demolition of existing structures Sept 2022 Oct 2022 Prepare construction drawings and obtain building permit approvals Oct 2022 Dec 2022 Close financing July 2022 Dec 2022 Construction period (start date weather permitting) Jan 2023 Aug 2024 Initial occupancy and lease-up Aug 2024 Dec 2024 Page 155 Project Score Card Scoring Rubric TPC Notes TPC has proposed a 3/1 development plan for the The proposal should provide required parking for the parking to reside under the proposed project and should not result in a net loss of residential units. TPC is also parking in the downtown area. open to discussing 3/2 concept if the City would like to maximize this footprint for additional parking in Downtown Meridian. M TPC will include City Partners in the design of this project from Does the proposal demonstrate creativity, innovation, Day 1. We are convinced that we and sustainability in regard to the scope and design of can collectively deliver the project? excellence to Old Town Meridian. www.tpcho a o av E IN o ► e Major Design Considerations and M Site Constraints nno#ipns Dance S.Wdi5 � Alley i Street Parking ' Trees ente �" ` Use Interaction �ar • MLDun ou • Refuse Removal m rn • Shared Parking � • Pedestrian Appeal ,4 Existing Streetscape qua County " - Improvements Quali#y Board � - � • Neighbor Cooperation and m � 1 - +. a Input Building Height • Building Setbacks E aroaawayAve Br° � , ,, � • Architectural Theme www.tpcho VO - This site plan supports: • A mixed-use development • - project consisting of two Building Building ; buildings: A, Building A (corner of w. 2nd/Idaho) — 15,000 i All sq. ft. commercial building that is three sh/Delivery Route 9 floors high Building B (Corner of 3rd/Idaho) — 134,000 - , sq. ft. residential building that is four - 7 floors high (consisting tin N-Z of three floors of residential units over �-- - _ - - one floor of ground floor/covered parking) www.tpcho Proposal Highlights Development Cost and Revenue Sharing Summary 1 . Our Team has valued the land at $657,000 for the acreage described in the RFR This amount will be paid to the City of Meridian/MDC after execution of the Development Agreement. 2. Our Team requests a reimbursement of $2.3M in funding from MDC towards off-site work, utility relocation, clean-up costs and demo associated with the project. We expect the details of this reimbursement would be outlined in the Development Agreement and would be paid by incremental TIF generated by the project over the life of the URD. We would propose 50% of TIF sharing until the reimbursement is complete, leaving room for other MDC projects. 3. Total Development Costs are estimated to be $33,759,461 Lr WWWAPcho N�E M Proposal Highlights - Financing Structure Capital SourLes Source Construction Permanent Period Amount Period Amount TPC Equity $15,009,461 $15,009,461 Construction Loan $18,750,000 $0 Permanent Loan $0 $18,750,000 Total $33,759,461 $33,759,461 M www.tpcho Proposal Highlights - Financing Structure Devc,upibent t,u--)ts Use Construction Permanent Period Amount Period Amount Land Costs $657,800 $657,800 Construction Costs $26,6061800 $261606,800 Construction Contingency $1,400,000 $1,4001000 Financing Costs $830,000 $830,000 Soft Costs (includes Dev. Fee) $3,717,100 $3,717, 100 Project Reserves $547,761 $547,761 Total $33,759,461 $33,759,461 M www.tpcho Closing Points • TPC chose NOT to propose on this site the first time it was offered as we were focused on getting the Old Town Lofts out of the ground. • These kinds of projects in Downtown Meridian are NOT easy, but our experience with OTL has uniquely positioned us to be more efficient and effective with Centennial Center. • We are committed to Workforce Housing models as they are crucial to attracting labor and customers to our Downtown businesses. • We are 100% aligned with Downtown Meridian and offer a LOW risk partnership to the City and MDC. www.tpcho� THE PACIFIC COMPANIES 430 E . State Street, Suite 1001 Eagle, Idaho 83616 r!. a4 r: G*� MDC & OF MERIDIA RFP SUBMI L �q�qMI��4 � r• �. CIVIC BLOCK PROJECT 2021 AUGUST 24, 2021 PROJECT LEAD CONTACT INFORMATION John McGraw - Director of Development R-fVEPC D DE ELOPMENT River Caddis Development, LLC 1038 Trowbridge Road. East Lansing, Michigan 48823 jmcgraw@)rivercaddis.com TABLE OF CONTENTS m COVER LETTERINTRODUCTION AND PURPOSE (A) 06INTRODUCTIONSHAPING, WHO, WHAT, WHY 1 O ABOUT THE TEAM, RESUMES, & • WE ARE EXPERIENCE (B-D) 37 NARRATIVE, SITE PLAN, DESIGN, CONCEPT TIMELINE (E&F) 56 BRINGING THE COMMUNITY TO THE DEVELOPMENT 60PLACEMAKING CASE STUDVJULES ON THIRD 65FINANCIALSFINANCIAL VIABLITY & REFERENCES LETTER WITH PROFORMA (G-J) 68 LETTERS OF REFERENCE 72RFP SUMMARIZATIONONE PAGE SUMMARY 74 PROPOSAL & RES • • LETTER OF INTENT TO STATEMENT PURCHASE AND RFP RS (K) City of Meridian, ID RFP Submittal PAGE 2 River Caddis Developm� Item#1. www.rivercaddis.com RI V ERCADDIS DEVELOPMENT August 24, 2021 Ashley Squyres, Administrator Meridian Development Corporation 104 East Fairview Avenue, #239 Meridian, Idaho 83642 meridiandevelopmentcorp@gmail.com RE: City of Meridian Civic Block Project Cover Letter for RFP Submittal River Caddis Development ("RCY) is pleased to provide our proposal for the City of Meridian's ("City") Request for Proposal ("RFP"). We are eager to collaborate alongside the City and its stakeholders to build upon its existing character and continue to develop the community through partnership. Our concept is grounded in a true solutions-through-partnership mindset, aligned with the City's Mission & Vision, to create the best outcomes and value for the City and community. RCD believes relationships are the key to all successful development. We have successfully completed many mixed-use developments across the country as well as in the State of Idaho. In each case, we have uniquely combined the desires of community leadership with the opportunities the market presents. Our team has a unique background in environmentally burdened sites, municipal collaboration, and navigating the complexities associated with challenged downtown sites. Our ability to 'turn obstacles into opportunities' through collaboration and our solutions through partnerships approach is a market differentiator. We provide the City the potential to develop a long-term partnership with a group who has the track record required to successfully craft a public-private structure. Our collaborative program approach for design, finance and delivery will provide different types of social infrastructure solutions across the City and greater community to achieve the prime objectives set out in the RFP. RCD's focus on Public-Private-Partnerships has enabled us to assemble delivery partners, consultants, capital providers and operators to execute this innovative development delivery opportunity. For each project or development scope, we match the best-in-class partners whose specialization best fits the project's required expertise and economics. Our meticulously assembled team for this RFP combines extensive experience with the understanding and importance of local identity and relationships. This same approach was used in the recently opened Jules on Third project in Boise, ID. This project is further highlighted in our RFP response but is a great example of the success that can be created when the public and private collaborate to solve unique challenges in the community. We view this RFP as an opportunity to develop a partnership, not just another project. We have been involved in great developments when the public and private sector can design and cultivate a working relationship based on trust, transparency and aligned visions. This partnership approach allows for community engagement and solutions achieved much greater than either entity could achieve on their own. Our development team strives to create long term benefits not only to the City but to its stakeholders and the people looking to call Meridian home. Our development vision is to create a vibrant, diverse, clean, 1038 Trowbridge Road O Office:517 703-2107 �� Email:jmcgraw@rivercaddis.com 3467269 East Lansing, MI Mobile:517 420-7393 Web:www.rivercaddis.com 34886958.2 Page 166 Item#1. www.rivercaddis.com RI V ERCADDIS DEVELOPMENT and secure community through collaboration from all stakeholders involved. Our entire team is focused on carrying out the following objectives: 1. Solution to public and private parking through public private partnership. 2. Integrating a 20,000 square foot community center. 3. Thoughtful creation of place through public and private amenities. 4. Support and creation of downtown identity with iconic architecture. 5. Activation of city streets surrounding the development. 6. Financial and design solution to the relocation of the water main to 3rd street. 7. Providing diversity in housing types and price points in downtown Meridian. 8. Design that creates family-friendly, healthy, and engaging places that is respectful of the neighborhood and nearby developments, and 9. Long-term economic stimulation of downtown Meridian. Using the RCD partnership approach paralleled with City objectives, we will create a vibrant downtown district with engaging community-oriented spaces. Our teams' goal is to further enhance the City of Meridian as a premier place to live, work, and raise a family. In summary, RCD recommends a collaborative process with the City of Meridian allowing our team to discover creative structures that offer solutions to fit its comprehensive plan. Our solutions-based development team is pursuing a long-term partnership with the City of Meridian to help shape the framework of downtown all while assisting stewardship of the public's trust. In partnership, we believe we have multiple structures to present and work through to create a win-win scenario. The Civic Block Project is more than a design or concept, it's an opportunity to demonstrate collaborative relationships that bring us together to establish a premier, evolving, livable, vibrant, and connected community. We sincerely hope our proposal and team generates the same passion and enthusiasm we have for this region. We would be grateful for an opportunity to make a significant investment that will shape the future of the community for years to come. Sincerely, RIVER CADDIS DEVELOPMENT, LLC John McGraw Director of Development 1038 Trowbridge Road O Office:517 703-2107 Email:jmcgraw@rivercaddis.com 3467269 East Lansing, MI Mobile:517 420-7393 Web:www.rivercaddis.com 34886958.2 Page 167 INTRODUCTION 99 Teamwork is the ability to work together toward a common vision . The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommQtLresultsio AN DREW CARN EGI E City of Meridian, ID RFP Submittal PAGE 5 River Caddis Developmi SHAPING OF PROPOSAL - THE HOW MMMMMMMI HOW WE ARRIVED, AND WHY The design of this proposal and partnership opportunity was di n.ed from a deep dive into the comprehensive plan and from our beets on the mound approach the pan fen year . The fallowing page will describe City missions and objectives that helped shape our propanal reLnons and how it will Aephin shape the community into Me f l mC THE CITY tom+ OBJECTIVES 1. Sew Er PLACE wargrant RIVEMERRDFADDIs g ® ® ® • PA«.�.w:Rip ti¢, o PROMOTES .....r.an. o..n I .... i ?w rur. FnP IMPACTS AND EVOLUTION TO J� n MERIDIAN ' S s DOWNTOWN sle"..osdor t .osdur M"Mu.v p.".on City of Meridian. FE SubMR l PAOE6 River addle De"IOM WHO WE ARE DEVELOPMENT DEVELOPER/ OWNER/ TEAM BREAKDOWN DEVELPMENT INVESTOR 10 GGLOo L: LAM & BURK PUS GROUP ��� TTORNEYS AT LA' --.A I f I �0 1 U t I OPUS DESIGN LAND GROUPS GGLO CARDINAL GROUP SPS E & B BUILD 1W Mio GENERAL CIVIL Iq LANDSCAPE MANAGEMENT/ PARKING INCENTIVE CONTRACTOR ENGINEERING/ ARCHITECT OPERATOR SOLUTIONS LEGAL ARCHITECT/ PLANNING/ PLACEMAKING ENG/ARCH STRUCTURING ENGINEERING OF SURVEYING owl RECORD WHY RIVER CADDIS ? Tti Full service Extensive P3ASIAN Owners, Strong and turn-keyexperiencemanagers, financial development P+ __� idesigners, capabilities team collaborators and access to Extensive capital walkable/urban Collaborative National - development community experience experience focus - - -� 49 --- F •- 1 City of Meridian, ID RFP Submittal PAGE 7 River Caddis Developm4 1f81T1#1. CITY UnitesCIVIC BLOCK PROJECT ORGANIZATIONAL Partnership CHART Through RFP Partnership Level Uniquely designed partnership and LEGENDRCD development structureCITY CITY:City of Meridian to achieve mutual RCD:River Caddis Development goals E&B:Elam&Burke Law Firm OPUS:OPUS Design Build GGLO:GGLO Architecture TLG The Land Group CG:Cardinal Group Management Master Developer 1 10 SPS:Structured Parking Solutions Project Level Community Center General OPUS Contractor, Architectural, SPS GGLO Legal Structure Parking Structure Engineering Residential Financial & Community Incentive Structure Design, Engineering, Optimization Operation Landscape Management Architecture Crvd' Placemaking Surveying OPartnership designed between River Caddis and The City of Meridian to approach short-and-long-term goals while coordinating with the vision and mission put forth by the community. We form a transparent relationship between CITY& RCD the goal to who collectively design the program of the project. Md © Single-point of contact,a true Master Development partner- integrated,turnkey project specific development solutions. © OPUS Design Build and River Caddis have formed a strong bond with several successfully completed projects, together forming a uniquely integrated and specialized team with optimization as a key element of their foundation. OWith local guidance and Urban Renewal District experience, E&B will collaborate with the City and RCD to form a mutually beneficial partnership through creative legal structuring. © SPS, a vertically integrated parking solutions team brings a wealth of knowledge and experience from Public Private Partnerships,to the creation and dedication of financial incentives,to a programmatic approach between institutions,and to design a financially and structurally optimized solution that works for all stakeholders. Cardinal Management brings a vertically integrated approach to management and operations that will promote identity and L� cement this residential community long into the future. OPublic programming and PLACEMAKING is a critical element of this project, and we have a mix of local and national experience with GGLO and the Land Group to assist with creating place within the Downtown. Page 171 ®I tXPERIENCE HONEYCOMB RIVER CADDIS COLLECTIVE TEAM EXPERIENCE 3i `A � F Urban Renewal Districts Represented 28 + 500M Current P3 Annual Projects * 267 Construction Underway Projects 300M +17K Years of Experience Square Units 42 Feet Developed _ Developed or Constructed or Owned States Developments ""' Projected Present 10 B � - Value +167K The honeycomb or hexagonal pattern shown above represents that of a beehive. This +37K signifies our teamwork, strength, innovation, symmetry and efficiency. The honeycomb Units•• Parking Stalls requires less wax to be constructed and gains Managed Developed strength under compression. A key element of River Caddis, our development team and plan. City of Meridian, ID RFP Submittal PAGE 9 River Caddis Developm4 WHO WE ARE " Being engaged in some wayforthe good of the community, whatever that community, is a factor in a meaningful life . We longto g belong, and belongingand caring anchors our se se of s lace in the universe. ", I p � PATRICIA CHURCHLAND PO ins j City of Meridian, ID RFP Submittal PAGE 10 River Caddis Developm4 ABOUT THE COLLECTIVE GROUP The River Caddis collective development team is a carefully curated collection of experienced firms, led by principals who are committed to the creation and innovation of vibrant communities. With complementary skill sets and expertise in real estate development, financing, and operations, the development team is committed to collaborating with all community stakeholders to shape the future of downtown Meridian. This meticulously selected team was assembled to help fulfill the potential of the Civic Block Project site and to address the needs and aspirations of the City of Meridian. This team consists of industry leaders in developing and operating both mixed-use properties and all varieties of commercial real estate (office, retail, mixed-use, innovative space, headquarter space, public/private infrastructure, social infrastructure, and parking structures).We are experts in development, financing, architecture, specialty construction, energy efficiency, sustainability, community engagement, and asset management. With institutional knowledge and experience, we provide the qualifications needed to successfully partner with the City of Meridian and it's local stakeholders and to transform the site into a well-designed and connected tie to the community. Fundamental to our operating model is collaboration, not just with our self-selected partners, but also with the broader community. Meaningful engagement and two- way communication with public representatives, residents, community leaders, and local institutions is the only way we can deliver our ultimate goal to find the highest and best use to bring this vision to reality in the most economically efficient way possible. We view our response to this RFP as the first step in our commitment to working hand-in-hand with the City of Meridian, DDA, and all community stakeholders to identify and deliver on a plan for the site that enhances the city and achieves its vision and mission. FMCI of Meridian, ID RFP Submittal PAGE 11 River Caddis Developm4 0 U R EWPI- ESSENC MISSION We are a development firm that collaborates through complex problems to find environmentally-friendly solutions that create financial and social value VISION Our commitment to socially-minded development and exceptional craftsmanship is paramount to the River Caddis Development experience. Together, our diverse team shares a common vision of growing and learning to foster the creation of endless possibilities. COLLABORATION Through thoughtful and meticulous planning and engagement, River Caddis and its team members work hip to hip with their partners in the creation of value through effective communication and win-win mantra. BROAD EXPERTISE We have assembled the best and brightest partners to identify issues, work through them, and create unique solutions. Our master development approach allows us to leverage the specialize experience of our team to bring forth a uniquely designed project by and for the community. City of Meridian, ID RFP Submittal PAGE 12 River Caddis Developm4 Item#1. ABOUT THE TEAM1� RiVERCAENT DEVELOPMENT RIVER CADDIS DEVELOPMENT, LLC LEAD DEVELOPMENT ROLE Based in East Lansing, Michigan, River Caddis Development is a premier developer of commercial real estate, having completed development and redevelopment projects in multiple states across multiple industry sectors. The River Caddis Development team is made up of highly seasoned real estate professionals with backgrounds in development, design, engineering, brokerage, law, financial analysis, operation, and property management. We provide in-depth knowledge and collective experiences that enable us to RIVER CADDIS DEVELOPMENT deliver on a diverse gamut of projects River CaddisDevelopment with a unique attention to detail. Our stakeholders, creativity, commitment to collaborative engaged processes and focus on sustainability they undertake a development that are the trademark of River Caddis initiative, with the first step often Development involving coordinatingadjacent users and neighborssmooth River Caddis Development is routinely transitions and compatibility asked to evaluate complex ground-up proposedaddition, real estate development opportunities River CaddisDevelopment because of our proven track record of members serve as board members, deploying creativity, and our ability to trustees, and volunteers of numerous navigate from the site selection and charities, hospitals, universities, and approval process to construction other non-profits in their quest to completion and stabilized occupancy. make a difference where they live and The River Caddis Development team is excited to deploy these skills in collaboration with the City of Meridian. River Caddis has experience of market- rate and mixed-income multifamily properties, student housing, retail assets, and commercial spaces which demonstrate that River Caddis Development is truly a well-rounded development partner. City Page 176 of Meridian, • - • • • • RIVER CADDIS LEADERSHIP JOHN MCGRAW-LEAD Title: Director of Development 'k Education: BA in Liberal Studies from Grand Valley State University. MBA in Finance from Purdue University. Specialization: Unique partnership cultivation and «*9. „;«�;• development into all real estate development sectors. KEVIN MCGRAW Title: President ea Education: BS in Business Administration from Central Michigan University. Juris Doctorate from Cooley Law School. Specialization: Creation and implementation of complex ground up Real Estate development projects MICHAEL DRIVER Title: CFO Education: BA in Accounting from Michigan State University. Specialization: Creative and complex financial models and structuring. City of Meridian, ID RFP Submittal PAGE 14 River Caddis Developm4m IVER CADDIS LEADERSHIP BILL DEMMER Title: CEO Education: BS in Engineering from Michigan State University. Specialization: Responsible for coordination and implemention of complex business structuring. a- F m City of Meridian, ID RFP Submittal PAGE 15 River Caddis Developmi Item#1. 1� RIVERCADDIS DEVELOPMEW 3ULES ON THIRD. BOISE, IDAHO ADA COUNTY P3 Boise Caddis Apartments, occupies most of a city block in Downtown Boise. The development underway includes both the _ parking structure and Jules on Third Apartments, which will be located above the parking garage. Upon completion, the parking garage was sold to the County, intended to primarily serve the nearby Ada County Courthouse. This is an example of a Public Private Partnership with Ada County to assist their employees with a place to park in close proximity to their county courthouse. River Caddis was to provide this turnkey solution to the county through a unique and open partnership approach. The project development features mixed-use space and 173 apartment units constructed on top of the parking structure. The parking structure will have 400 parking spaces and serve both the residential tenants and Ada County. •4� 'a• ILK Y'is Lb JW Ly •tY �E'� SIZE ''` •%' 175 Units r� is 7 ©_.._.- DATE 2021 Aft DEVELOPER F yYF4 River Caddis rt+ Development - 41 0 COST r Y NA QARCHITECT OPUS AE - - J r © CONTRACTOR - OPUS Design Build N. �* • • ILI A • i ti f Page 179 Item#1. RIVERCADDIS DEVEL UNION ON LINCOLN. AMES, IOWA The site initially consisted of seven properties totaling 1.8 acres, all of which housed a combination of residential dwellings and commercial buildings, including a gas station. The vision was to create a pedestrian-to-campus location and amenity offering directly across the street from top-tier Iowa State University given its steady growth. Located on the prominent Lincoln Way at Sheldon corner and bordered by Hyland, the 6-story project was designed to enhance the vitality of the site. Obstacles included environmental contamination, multiple lot consolidation, and varying grades. An exceptionally well designed and aesthetically pleasing 320,000 square foot, 6-story mixed-use building consisting of 537 beds in a mix of studio, one-, two-, three-and four.bedroom floor plans, and 7,500 square feet of retail space. In addition, 20 / boutique hotel rooms are provided to the public catering to / professors, future students, parents and professionals visiting the campus. The additional rooms provide ultimate convenience with immediate proximity to campus that no other hotel provides in the area. O SIZE 225 Units yj I ©_. DATE 2018Ak r ROLE " +� DEVELOPER & Owner0 I COST48M r- ARCHITECT �. OPUS AE ura" f © CONTRACTOR OkLY _I 64 OPUS Design Build [ �. r r: r F y City "J [ • • Page 180 of •ian, ID RFP Submittal PAGE 17 River • • • • Item#1. RWERCADDIS DEVELOPMENT EAST END. MIDLAND, MICHIGAN River Caddis Development and the Gillespie Group were selected by community stakeholders to plan, design, construct and manage - a '"live/work/play" environment in downtown Midland, Michigan. ' River Caddis and Gillespie Group formed Midland Downtown Partners, LLC, which collectively designed a multi-phase redevelopment project which includes retail, professional office, .� and medical clinic/office, appropriately labeled "East End." This 224,000 square foot mixed-use building is complete with office, medical, and retail users on the ground floor (restaurants, medical clinic, retail banking), and the upper three floors are comprised of professional offices. East End delivers a "Sense of Place' by tying the formerly underutilized north area to the existing downtown, creating vibrancy. This vibrancy was created by numerous aspects, including: a walkable Community; a flexible retail space; convenient parking for retailers; pedestrian circulation, coordinated with the Great Lake Loons Stadium; mix of commercial and non-commercial activity; and a casual social interaction areas. O SIZE 224,000 SF ®_.._.. DATE --- 2014 ROLE ` DEVELOPER & Owner 0 COST 52 M do QARCHITECT Neumann Smith E © CONTRACTOR Fill Spence Brothers H - CITY ro OF • • • Environmental Contamination Retail• Office • Health• • • Mixed Use LEED GOLD City Page 181 of •ian, ID RFP Submittal PAGE 18 River • • • • Item#1. ABOUT THE TEAM 0 OPUS l--O�.....ul OPUS DESIGN BUILD the Opus Group° is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. OPUS was built from rich history and tradition of earlier companies, dating back to 1953. Together, these companies have completed in excess of 2,900 projects totaling more than 290 million square feet. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: • Opus Development Company, L.L.C. • Opus Design Build, L.L.C. • Opus AE Group, L.L.C. OPUS GROUPAPPROACH Opus Holding and its subsidiaries currently employ a total of 254 LISTEN and understand the client's associates. The breakdown of culture & philosophy. headcount is: 31 in Opus AE Group, L.L.C.; 109 in Opus Design Build L.L.C.; DESIGN spaces • 43 in Opus Development Company, impression. L.L.C.; and 71 in Opus Holding, L.L.C. CREATE opportunities to 6ring people They operate as a multidisciplinary & place together. team with expertise in development, OPUS FOCUS capital markets and finance; project SUSTAINABILITY management and construction; and STEWARDSHIP architecture, engineering and interior SAFETY design. With their unique one-team DIVERSITY approach from project inception CREATIVITY through completion, their integrated VALUE design-build model has proven results CERTAINTY in providing both time and budget efficiencies. Opus Design Build, L.L.C. has extensive experience in collaborating with community stakeholders and constructing dynamic urban living environments. This experience includes constructing residential towers above parking structures or retail spaces. City Page 182 of •ian, ID RFP Submittal PAGE 19 River • • • • PUS GROUP LEADERSHIP GC JEFF SMITH - LEAD Title: Vice President Education: BS in Construction Engineering from Iowa State University. Professional Engineer, MN. k Specialization: Responsible for all construction *' related activities and manages large, complex projects through design, construction and activation. NOAH BRENNECKE Title: Senior Project Manager Education: University of Illinois Chicago Specialization: Responsible for delivery of fully integrated design-build construction processes. This begins at the visioning stage through project activation and beyond. _ GEORGE PARRINO . � Title: Senior Project Manager Education: BS in Civil Engineering from University of Wisconsin - Madison. 'Ok Specialization: Leads project teams of architects, engineers and sub contractors to deliver fully integrated design-build services. City of Meridian, ID RFP Submittal PAGE 20 River Caddis Developm4 PUS GROUP LEADERSHIP AE STEVE KOVALIK Title: Vice President - Architecture Education: BS of environmental Science from North Dakota State University. Bachelor of Architecture from North Dakota State University. _ Specialization: Responsible for all design-build disciplines during the design documentation process. A0 JAY FOURNIEA-LEAD 'r Title: Director - Architecture . Education: BS in Architecture from University of Minnesota. Master of Architecture from University of Colorado. Specialization: Oversees the design phase document L_ production across all regions and sectors. JENNIFER KOEHLER Title: Vice President - Interior Design Education: BA Interior Design University of Wisconsin - Stout. . �LL Specialization: Responsible for directing the interior design department nationwide. 'r L --or J� City of Meridian, ID RF�P Submittal PAGE 21 River Caddis Developmi PUS GROUP LEADERSHIP �AE JOHN LEWIS Title: Vice PResident - Engineering Education: BS in Civil Engineering from Marquette University. Specialization: Responsible for managing structural engineering department nationwide. City of Meridian, ID RFP Submittal PAGE 22 River Caddis Developm4 Item#1. OPUS THE OPUS GROUP WESTLEY ON BROADWAY. KANSAS CITY, MISSOURI Westley on Broadway is a mixed-use project with 256 (254 units and two guest suites) luxury apartment units and 10,000 square feet of retail, built on 1.71 acres located in the Westport neighborhood of Kansas City, Mo. The development consists of five levels of apartments over ground floor retail, with two levels of below grade parking. The project has a mix of junior studio, studio, alcove, one bedroom and two bedroom unit types. Units feature luxury interior finishes, including nine-foot ceiling heights, granite countertops, designer backsplash, upgraded vinyl plank flooring, designer lighting packages, deep bathtubs, premium vanity finishes, over-sized windows, stainless-steel appliances and unitized stackable washers and dryers. Amenities include state-of-the-art fitness center, fitness-on-demand, roof. level amenity terrace overlooking the heart of Westport, club room, plus a larger, lower level amenity terrace overlooking Broadway Rd. that includes a pool, fire pits, lounge areas and grilling and dining. Other amenities include conference rooms and co-working vestibules, concierge desk during workdays, two guest suites, a dog wash, secure bike storage, secure resident storage and secure underground parking. w i -n O SIZE a 256 Units ©_.._.. DATE :Ip 2020 • ROLE 5 Design Build Co. 0 SIZE 359,000 SF QARCHITECT OPUS AE © CONTRACTOR OPUS Design Build i City Page 186 of •ian, ID RFP Submittal PAGE23 River • • • • Item#1. OPUS THE OPUS GROUP VARIANT APARTMENTS. MINNEAPOLIS, MINNESOTA Bounding with activity, the North Loop on downtown Minneapolis' north side is one of the most popular spots in the Midwest. Amidst tastefully restored warehouses, lively breweries and chic boutiques, the North Loop offers a dynamic food, shopping and entertainment scene, qualifying it to make Fodor Travel's 2016 Go List as one of the top 25 destinations to visit in the world. Variant, a first-class, mixed-use apartment and retail development is in the heart of the neighborhood. The six-story building features 144 luxury apartments atop 14,000 square feet of vibrant ground-level retail space. There are a variety of layouts including micro units, studio, alcove, convertible, one- and two-bedroom spaces. Tenants enjoy an abundance of high-end amenities including concierge services, a fitness center, an activated lobby, pool deck, the largest pool in the North Loop and a gas fireplace. With picturesque views of i downtown Minneapolis, a sixth-floor rooftop terrace includes cabanas . and grilling area, outdoor bar and fire pits. The pet-friendly residence also includes two levels of underground parking, bike storage and a do r 9 P 9 9 9 _ � �r � � '.I � 2; IL • wash. . f *d.� a� O'lRii • � �Ri� O SIZE r ' - 144 Units ®_.._.. DATE 2017 Aft ROLE Design Build Co. © SF 199,000 O SIZE QARCHITECT 286,000 OPUS AE DATE © CONTRACTOR 2014 OPUS ROLE Design Build Co 0SIZE THE MAVEN ON BROADWAY. 154 Units ROCHESTER, MINNESTOA 0 ARCHITECT Opus partnered with Titan Development & Investments on a new OPUS AE multifamily mixed-used project in downtown Rochester. It is the © CONTRACTOR first of its kind in this prosperous, growing city in southeastern Minnesota. Located in a desirable area between South Broadway OPUS and First Avenue, it is within walking distance of Mayo Clinic's main campus, as well as shopping and restaurants in the core of T Rochester. The six-story building includes 154 residential units and 9,000 square feet of ground-level retail space. Units feature high-end 1 finishes throughout and include studios up to penthouse units and furnished units. Residents enjoy a variety of upscale amenities in a modern urban setting, including a gallery entryway, a community room with a bar, an outdoor rooftop deck with a fire pit and barbecue area, a swimming pool, a workout facility, bicycle storage room, dog wash * and ample storage areas for residents' belongings. Page 187 Item#1. OPUS THE OPUS GROUP CEYLON LUXURY APARTMENTS. CLAYTON, MISSOURI Ceylon Luxury Apartments is a Class A, urban core, multifamily development located in the heart of St. Louis' most prestigious submarket, Clayton, Mo. Located square Lyon restaurant row in the central business district with a Walk Score of 93, residents enjoy a N lifestyle of convenience and walkability to entertainment, work, Shaw Park and transit. The six-story building contains 120 units, 13,297 square feet of street . level retail and 175 parking stalls. Ceylon offers residents a variety of it layouts including studio, alcove, one- and two-bedroom units. All units include high-end modern finishes, including stainless steel appliances, quartz countertops with tile backsplash, expansive windows, private I balconies and large closets. I I I Ik Luxury amenities include a state-of-the-art fitness room with Fitness On — — -- — — Demand", club and game room, commercial grade kitchen for entertaining, storage lockers, secure bike storage, professional management and two amenity decks for residents - the East amenity deck, overlooking restaurant row on Central Ave., and an interior courtyard,offering a serene space for residents to gather. OSIZE ti,�CEYLON 120 Units _ QDATE 2017Aft �, - ROLE - — aa Design-Build — - PARKING 175 Stalls Q ARCHITECT O SIZE 191 Units OPUS AE © CONTRACTOR DATE 2017 OPUS AM ROLE Design Build Co. RETAIL OXBO. ST. PAUL, MINNESOTA 11,500 SF © Oxbo is located on West 7th at Chestnut Street in St. Paul's ` ARCHITECT emerging downtown neighborhood, which has been revived with OPUS AE new restaurants, retail, light rail transit and a new St. Paul Saint's Stadium in 2015. © CONTRACTOR Oxbo includes 191 new residential units - a combination of studio, one- and two-bedroom apartments and three- bedroom, OPUS townhouse-style residences, plus 11,500 square feet of commercial space made up of two restaurant tenants: New Bohemia Wurst 11 and Bierhaus and Seventh Street Truck Park. The luxury building also features such high-end amenities as a r fitness room, club room with a Speakeasy whiskey lounge, outdoor courtyard featuring a pool, hot tub, fire pit and grill areas and a It roof-level patio with river views Page 188 r Item#1. ABOUT THE TEAM ID GGLO Founded in 1986, GGLO is a 120+ person firm of architecture, landscape architecture, interior design, and urban design professionals with offices in Boise, Los Angeles, and Seattle. GGLO focuses on mixed use projects with a combination of housing (market-rate, affordable, active adult senior, and student), retail, hospitality, and office environments. Their deep experience in multifamily mixed-use design is married to their commitment to environmental sustainability, their sensitivity to context, and their ability to design in extraordinary ways even in ordinary circumstances. They bring innovative ideas and new approaches to solving design problems. Over their 35-year history, they have become a leader in creating holistic, mixed use properties domestically and internationally. They look at projects from the inside out and from the outside in, incorporating disciplines, uses, and stakeholders to achieve design solutions. These solutions shape their contemporary culture and make places in which people GGLO believes in the design of can fully experience community, well- . beautiful landscapes being, and beauty. They are known for our cities. We design urban spaces that their ability to thoughtfully orchestrate bring people together, and connect transitional spaces among various uses in them to the primal beauty and ways that make spaces feel good as you restorative qualities of nature. This move through them. Their approach has intrinsic connection brings joy to garnered compliments from end users, led people, builds empathy for nature, and to successful projects for their clients, fosters environmental stewardship. Our and helped to foster communities responsive landscapes distill the wherever their projects are located. To contextual, social, and experiential tailor solutions to each individual design essence of places for the people that problem in creative ways, they bring inhabit them. Through iterative together the best minds and approaches manipulation and intense layering, we from across disciplines and skills to craft seek to amplify inherent stories, a holistic story. Each discipline brings culture, and beauty to create highly their best ideas and provokes new ways crafted landscapes. of looking at problems, and distilling ideas to be their best. Regular design reviews with the firm leadership guides the evolution and maintains the ethos of the practice throughout. They seek to advance a vision of clarity and generosity to the world. City Page 189 of Meridian, • - • • • • 1 r GLO LEADERSH1 ,1111110, k> MARK SINDELL-LEAD Title: Principal, Landscape Architects"'•'. Education: Bachelor of Landscape Architecture from Washington State University ,� e Specialization: Landscape Architecture, Urban Design and Place Making in Treasure Valley and Mountain West. 1 � Public - Private Partnerships. TIM SLAZINIK Title: Associate, Landscape Architecture Education: Bachelor of Landscape Architecture from University of Illinois Specialization: Design and Delivery of Place-Based Civic Projects, Public Space Programming. t City of Meridian, ID RFP Submittal PAGE 27 River Caddis Developm4 Item#1. L INDIAN CREEK PLAZA. CALDWELL, ID . Caldwell, Idaho was once a town people drove through on the way to wine country. In 2013,city planners set out to create a downtown that is full of life f and activity. During a comprehensive process interviewing residents on ways to improve the city,one key theme arose—to transform downtown and create ; a destination. The resulting Indian Creek Plaza does just this, creating a 5 "living room-where residents and visitors alike feel welcome to gather, relax, ' f and play. The Plaza is organized around the guiding theme of Palimpsest, layering the past with the future.The site is carefully designed to honor the rich history of downtown Caldwell,showcasing the architectural and agricultural significance of the area. Design of the Plaza provides space for year-round activities that draw visitors including concerts and farmers market in warmer months and an ice-skating ribbon surrounded by fire pits and seating in the winter. Indian Creek Plaza has served as a strong catalyst for revitalization of the Downtown region, directly inspiring the creation of new businesses and ¢ r establishing a destination at the heart of Caldwell. Expectations for the number of visitors and the business it would bring to the community have been consistently surpassed, such that Indian Creek Plaza is now considered a rousing success and a popular family destination O SIZE y ti 27,000 sf p®=.=.. DATE 2018 QROLE Landscape Architect 0 COST $6.5M CONTRACTOR O SIZE © 1 Acre in Companies, DATE Companies, Inc d],��� 2018 Alk ROLE Landscape Architect COST BOISE CITY PLAZA. BOISE, ID $3sM The city of Boise, Idaho has undergone rapid transformation over the past _ © CONTRACTOR several years through an ambitious initiative to become the most livable city ' in the country."When it became clear that the existing city hall and plaza did McAlvain not align with the overall goals for the city's development, the city partnered Companies, Inc with GGLO to design a solution that signals a vibrant,livable future for Boise. The design team combined the feedback about hopes for the vision of the new Civic Square with their own expertise and created a concept plan for a communal space that demonstrates a commitment to sustainability and promotes healthy living through active design. An elevated event plaza, broad sitting steps, and an artfully designed civic lawn promote community gathering and daily use. An interactive water feature, integrated lighting, and natural landscaping create a welcoming and beautiful space that encourages use and supports physical distancing when needed. A series of metal sculptures cast shadows on the surroundings that resemble sunlight dancing through the filter of tree leaves. i The new Civic Square welcomes visitors into Boise City Hall and provides an artful and accessible space that supports both transit and gathering. i Page 191 Item#1. ABOUT THE TEAM THE LAND GROUP The Land Group, Inc. was founded in 1988 and since then has built its reputation on providing technically sound and cost-effective services that add value while meeting the individual needs of each project. The Land Group has grown into a multi-disciplinary firm where the critical focus remains on working together across disciplines as a cohesive team. We provide a full range of services in landscape architecture, civil engineering, land surveying, and planning. They believe that achieving our clients' project vision requires full utilization of their talented team's creative and technical resources. By working in collaboration with Philosophy our clients, they strive to create a unified vision for each project and then apply all -Achieve Vision - We aim to achieve necessary resources to assure its successful vision 6y listening closely to our clients execution. In doing so, we create sustainable to effectively execute their vision in built environments that blend progress and ways that are resilient and sustaina6le preservation to achieve the highest quality through fiscal, environmental, and design and advance their region. social responsi6ility. Their unique mix of professionals enables The -Create Community - We work to create Land Group to provide a full range of community in ' ur office, within the services for projects of all types and sizes. teams we assem6le and in the places The team's varied experience and talents are we conceive. complemented by their professionalism and Outcomes - At TLG, our team of enthusiasm for creating successful integrated design professionals strives developments. Our staff is familiar with to enrich outcomes through , ur projects ranging from small commercial pad continued effort to 6e on the cutting development to large, multi-hundred acre, edge of methods and technologies, commercial, recreational and residential encouraging our clients to em6race master planned developments. 6etter futures and improved outcomes. City Page 192 of Meridian, • - • • • • ND GROUP LEADERSHIP JASON DENSMER Title: Principal, Civil Engineer Education: BS Engineering with Civil Specialty, a Colorado School of Mines Specialization: Land development, residential and public works projects ?' MIKE FEMENIA Title: Professional Land Surveyor Education: AS Land Surveying, Sierra College Specialization: Land and boundary surveying r--.. -- i.,.'W;; I - ra City of Meridian, ID RFP Submittal PAGE 30 River Caddis Developmi Item#1. THE GIBSON, BOISE, ID Located in the Old Boise Historical District, the 5th & Idaho project is a 100,000-square foot, five story mixed-use building that includes 81 apartments from studios to two bedrooms. The project includes six ground level loft style s - town homes with private terraces, as well as 2,700-square feet of retail space. The building boasts exclusive apartment amenities which include an urban pocket park, a tenant common living room I connected to an outdoor space via a glass overhead door, tenant package room, bike storage and wash, dog wash and run, and 66 indoor parking spaces. The building also includes afifth-floor common outdoor space equipped with a fire it, outdoor kitchen and dining area that showcases p 9 great city and foothills views. O SIZE y - 100,000 sf Q DATE = 2018 Aft ROLE Civil Engineering COST NA © CONTRACTOR O SIZE 32,000 ESI Construction DATE 2013 ROLE Civil Engineering Landscape Arch 0 COST COMPASS VRT, MERIDIAN, ID NA The TLG team also provided survey and site planning for the © ARCHITECT Community Planning Association of Southwest Idaho (COMPASS) and Valley Regional Transit (VRT) office. Design Erstad Architects elements included parking area in accordance with City of Meridian requirements, bus bays in coordination with VRT, site landscape, plaza, and other areas. The civil team _ confirmed utility availability and connection requirements with each associated utility provider, coordinated frontage improvements with ACHD, and developed conceptual utility routing, drainage locations, and conducted site grading. Agency coordination included preparing the license agreement with ACHD for non-typical improvements in the right-of-way associated with the bus bays and other transit- center oriented work. TLG also provided bid assistance, construction administration, and prepared the forms, reports ¢ 1 and other documentation associated with submittal for and �1 ' 9 achieving LEED Silver certification. Page 194 Item#1. ABOUT THE TEAM iLy�� Elam & Burke PA A legal pioneer in Idaho since 1928, Elam & Burke is the preeminent local firm for public-private partnerships in urban renewal development. Elam & Burke attorneys provide leadership and team building in urban development projects across the State of Idaho and maintain extensive experience in all aspects of real estate development. Elam & Burke has stood the test of time to become a regional legal force. Then and now, their reputation is one of Megan S. Conrad Representation excellence and efficacy. Their historical roots allow them to branch Meghan S. Conrad's wide in their practice areas, led by a local economic development specialized team of multi-generational representation to ur6anagencies attorneys. They establish lasting throughout the state on issues including partnerships with their clients, so they partnerships, can be relied on us over the long term. government contracts, tax increment Located in the legal hub of downtown f inancing, litigation, appeals an• Boise, Elam & Burke combines history, governmental relations. Ms. Conrad has skill, and reputation. had the opportunity topicconferences on the . . Elam & Burke, P.A., respects, values and In 2014 • . . was celebrates the unique attributes, recognized 6y the IdahoReview characteristics and perspectives that as a Leader make each person who they are. They Chair of the University of IdahoCollege . believe that their strength lies in their Law Advisory Council and is a mem6er diversity among the broad range of State Law Resources, people, businesses and organizations we represent. They consider diversity and inclusion a driver of institutional excellence and seek out diversity of participation, thought and action. It is their aim, therefore, that their employees, owners and clients reflect and embrace these core values. City Page 195 of Meridian, • - • • • • i i a LAM e f ® f r 1 r C LEADERSHIP MEGAN S. CONRAD-LEAD - �.. Title: Shareholder Education: BA in International Relations and French from Colgate University; JD University of Idaho College of Law. 4L Specialization: Advising urban renewal districts in all aspects of eligibility, new plans, taxing districts, tax �• 1 incremement planning, management, reimbursements, and •7 plan terminations. AMANDA K. SHAUS Title: Of Counsel Education: BA in Political Science and Philosophy fromt he University of Kansas; JD from Southern Methodist University Dedman School of Law. Specialization: All aspects of real estate development - Due diligence, acquisitions, development agreements, covenants, construction, leasing, property, and dispositions. an— r� �a ■ L }R • � i 1 - �r - City of Meridian, ID RFP Submittal PAGE 33 River Caddis Deve ��� � a M lopm4 I Item#1. ABOUT THE TEAM S�olutionrs: Structured Parking Solutions SPS specializes in the design of parking garages for municipalities, hospitals, universities, and private sector clients. The SPS core philosophy includes dedication to providing innovative, efficient, functional, and practical parking design/development through layout efficiency and structural design cost effectiveness. SPS begins this process at the design stage through team cooperation led by parking design experts and application of an Owners perspective. SPS also applies their experience obtained on over 350 parking structures designed/developed by our principals. This level of dedication and experience follows from design into construction as , S manages its' own properties and has a SPS professionals oversee all diverse parking, of f ice, retail, and development activities, assuring their multifamily tenant list that includes the clients of a seamless, successful federal government, state government, process. Their innovative approach county government, health care, private affords their designs to seek out-of-the sector, and many types of professionals box solutions to complicated for approximately 700,000 SF of occupied programming requirements. Their use space plus parking venues.SPS and its clients are fully involved throughout ownership have developed and manage the design process including their numerous properties for the GSA. Some of innovative process of using BIM the agencies have included the Social (computerized visual modeling) Security Administration, the IRS, the technology to model our projects. Federal Probation Office, ICE, Veterans This innovative approach saves each Administration, and the Customs and structure money and time to delivery Border Protection Agency.Additionally, SPS while improving garage efficiencies and is currently developing garages in reducing errors. SPS team members are Palmetto Bay FL, Hollywood FL, Miami leaders in the concrete precast industry Beach, FL, Charleston SC, St. Louis MO, which assures their clients they receive Altamonte Springs FL, and many other locations. the most technologically advanced consultation and design efforts available. Their staff helped to write the Precast Concrete Institute (PCI) manual for precast concrete structure maintenance. City of Meridian, ID RFP Submittal PAGE34 River Caddis Develo Page 197 STRUCTURED PARKING SOLUTIONS LEADERSHIP GREG DARDEN-LEAD Title: Director of Business Development Education: Commercial construction and development Specialization: Lead representative overseeing Coordination and development initiatives. �■ �� •' JORDAN WATKINS Title: Lead Engineer Education: Bachelor of Civil Engineering Specialization: Structural design, detailing, and project management of precast/prestressed concrete solutions. LARRY ADAMS inkr = Title: Lead Architect i & Education: Bachelor of Architecture V j Specialization: Master planning, design and project management for multiple real estate sectors. City of Meridian, ID RFP Submittal PAGE 35 River Caddis Developmi Item#1. W71 strucSuresolu ROPER ST. ST FRANCIS PARKING GARAGE,_ CHARLESTON, SC The project consists of an eight-level precast concrete parking garage with a total capacity of 893 spaces. There were several unique specific design and construction issues associated with this project. Charleston, SC is not only a unique and unusual design environment due to the historic significance of the City and its design review process, it also is a City developed on a substantial amount of borrowed earth fill covering former marsh lands with a �• high tidal influenced water table and one of the most severe seismic zones in the country.Our project had to maneuver through the rigorous design review process with the City assisted by the local design firm LS3P, who was one of the many local design consultants utilized on our team. This project was r developed on an existing site utilized as surface parking for the hospital and a multistory medical office building (MOB).The new garage was •��• — designed in an "L" shape to wrap around two sides of the existing MOB and to butt up against an existing parking structure on campus, which allowed it to achieve the greatest yield of additional parking spaces. There were many building and fire code issues dealt with in the design process due to the infill •• nature of this new structure, including building separation issues and preserving exterior window openings, expansion joints, pedestrian bridges and street front aesthetics. O SIZE 893 Spaces Q DATE 2019 Aft ROLE Architect Interior Design Project Management Engineering Construction Mangement COST T - $22M HILLMAN ST. PARKING GARAGE. ANNAPOLIS, MD - Structured Parking Solutions (SPS) began discussions with the City of Annapolis Maryland in early 2019 with discussions on how their downtown garage (Hillman garage) could be redeveloped because its age had begun to create structural concerns. SPS provided options to the city to pay for the _ replacement of the Hillman garage through a financing solution known as a concession agreement (concession). During the discussions with Annapolis, SPS identified the possible value of an Annapolis parking concession could pay for a new garage and potentially other projects. As a result, the city placed a i solicitation seeking teams to present their interests and abilities to creatively replace the Hillman garage, provide creative financing options, and to consider addressing the cities issues related to flooding within their downtown district within the City Dock area (its waterfront district). Provident Resources Group (PRG) and Structured Parking Solutions (SPS) worked in unison to _ • develop a team of participating companies to answer the city's requests. The PRG and SPS team, along with its participating team members evaluated all options and proposed to the city a parking concession opportunity. The t concession was anticipated to provide the city upwards of$77MM dollars which would be used to pay for a new Hillman garage with the remaining funds going towards costs to mitigate the city s flood concerns downtown. Page 199 • • • - • • • • fl CONCEPT PLAN To accomplish great things, we must not only act, but also dream ; not only p lan, bu;ialso believe . ANATOLE PRANCE PROJECT INFORMTION PROJECT DESCRIPTION = We are proposing a circular or iterative process - where collaboration meets partnership innovation. River Caddis and its team will work with the City of Meridian and its stakeholders to achieve some of its long and short-term objectives as listed below. Our project will include 173 luxury apartments units, including 10% workforce housing units, 414 public and private parking stalls, the redevelopment of a 20,000 square foot community center, activated public and private amenity spaces, and an iconic design. Our team leaders will work through public engagement to ensure the asset delivered brings pride to the community and holds the test of time. This project is only achieved when the public and the private come togethe, to leverage their resources and expertise across sectors. PROJECT OBJECTIVES • Solution to much needed parking through public private partnership " • Integrating a 20,000 square foot community center. • Thoughtful creation of place through public and private amenities. R` • Support and creation of downtown identity with iconic architecture. • Activation of city streets surrounding the development. • Financial and design solution to the relocation of th-e-water main to 3rd street. • Providing diversity in housing types and price points in downtown Meridian. • Design that creates family-friendly, healthy, and engaging places that is respectful of the neighborhood and nearby developments. • Long-term economic stimulation of downtown Meridian. City of Meridian, ID RFP Submittal PAGE 38 River Caddis Developm4 Item#1. ARCHITECUAL NARRATIVE DOWNTOWN VITALITY The primary goal of the development is to provide a level of vitality that such a prominent downtown site deserves. What is currently a non-revenue generating asset will be remade into a vibrant Community Center and Mixed-use development. The development of this site provides a unique opportunity to reinforce the City of Meridian"s long-term plan to enhance the public pedestrian realm especially along Broadway with its connection to City Hall and The Festival Street (2nd Street) between Broadway and Idaho. Enhancing the vibrancy of this site will contribute to the liveliness of Meridian as a whole, strengthen Meridians historic community and character, and promote distinct, engaging places. A mix of residential, amenity, community and off-street parking uses will attract more activity to the site at all hours.A signature architectural and landscape design solution based on time-honored urban design principals will create a welcoming public environment that will encourage people to live, stay and recreate downtown. MIX OF USES A diverse mix of uses will foster an active streetscape during the day and evening. As requested by the proposal requirements, and the need for strategic growth, the majority of the development's area on levels 1 through 4 will be dedicated to 414 stalls in an open parking structure, specifically designed with street level interest. 20,000 SF of dedicated community center space will line the first 2-stories of the street level faSade of the garage at Broadway wrapping the corner of 3rd Street. This 20,000 SF of community center space will cater to the visitors, community organizations, residents and employees of local offices and institutions. Architecturally integrated living wall panels with live plantings will provide a soft, playful cover of the garage as it is outwardly expressed to the public realm while also providing visual interest and vertical plane breaks to meet architectural design standards. A two-story active front door volume to the apartment lobby, amenities and leasing center are located at the hard corner of Idaho and 2nd Street also lining the garage activating these frontages. Promotion of street level pedestrian activity is accomplished thoughtfully in response to context. For example, the front door of the apartments opens and enhances The Festival Street activity and the Community Center reinforces Broadway with its connection to City Hall and downtown as it opens and activates that frontage. The proposed architectural design is cohesive and has been meticulously curated to align with the intent of the Meridian Architectural Standards of non-residential structures. High quality, durable building materials are proposed throughout the design providing a long lasting finish with a timeless aesthetic. The project includes a total of 174 highly amenitized and diverse range of apartment units at a variety of price points, in a 4-story structure placed atop the public/private use parking structure. The lobby of the residential use is located in a prominent location at the corner of Idaho and 2nd Street, enhanced by iconic architecture, and recessed glass systems creating outward publically accessible benches built into the architecture reinforcing an attractive pedestrian environment and its daily and festival uses. Access to the parking garage is provided on Idaho, keeping Broadway and 2nd Street City of Meridian, ID RFP Submittal PAGE39 River Caddis Page 202 Item#1. ARCHITECUAL NARRATIVE CONT. free of curb cuts associated with the proposed design.Apartment flats and amenities are located above the lobby and first story above the parking garage will deliver shared resident amenity spaces, including attractively landscaped outdoor decks, grilling areas, pool, conversational seating and fire pits that will provide stunning views of downtown Meridian, sunsets, City Hall and the mountains. Apartments will range in size, catering to a multi-generational group of residents including young professionals, millennials, existing Meridian residents and empty nesters who love Meridian but are looking to downsize and not leave the City. We expect all residents to be in search of a full-service lifestyle residence in the Meridian market, which the proposed project will cater toward. Affordability is a concern across the country with any new housing. A goal of this proposed project is to include up to 10% of the units dedicated to workforce housing, with rents in the range of 80-120% AMI. The 20,000 SF dedicated community space in plan is intentionally left open as a ""white box" for the City, City stakeholders and the development/design team to collaborate on what is the highest and best use for the community. In an effort to create a premier, evolving, livable, vibrant and connected community we understand the Community Center is an important feature. The Community Center has an iconic and definitive facade design along Broadway identifying its value and longevity to the community. An architectural arcade along the street and elevated entry provides a formal procession into this shared community space taking design inspiration from historical design features found throughout communities thriving where old meets new. The Community Center streetscape design also proposes the elimination of a few parallel on-street parking stalls along Broadway for the community benefits below: • A narrowed roadway section helps to provide traffic calming and a safer environment for pedestrian rich, active spaces. • A large public realm welcome plaza to the Community Center provides space for pre-function gathering outdoors and thoughtful integration into the sidewalk maximizes hardscape utilization in the City. • A formal defined entry to the Community Center is easily identifiable to users arriving in a multi-modal fashion. • Potential for drop-off on Broadway during high-profile events. COLLABRATIVE DESIGN PROCESS To redevelop a site of this size inherently has both opportunities and challenges. For example, one challenge is the Hunter Lateral running through the center of the site. Our team of experts will work with City staff and engineers to execute a long-term design solution that will relocate the lateral into 3rd Street to provide a "clean" site to develop. Opportunities abound with collaboration of the design team and City stakeholders for the Community and garage. We want to be good neighbors and we know a project like this influences all those immediately surrounding the site. We plan to work closely with Unbound and Compass VRT as the project will have an impact to their operations and routines. The replacement of the existing park will be part of our collaborative process and will utilize our public engagement process and work sessions with the City to find a comparable site in replacement. We want to make the connections, design solutions and long-term plan for the block redevelopment to include their interests and support their long-term goals as best we can. Finally, there is both challenges and opportunities with regards to parking. While the project is delivering more parking than the minimums requested in the RFP there is also opportunity to balance on-street parking. Our team is committed to partnering with City staff and engineers that delivers the most on-street stalls balanced with the programmatic site changes and design standards the City and the proposed project are looking to create. City of Meridian, ID RFP Submittal PAGE40 River Caddis Page 203 Item#1. ARCHITECUAL NARRATIVE CONT. PEDESTRIAN ORIENTED ENVIRONMENT Contextual architecture and landscape design based on long-standing urban design principles will create a welcoming public environment that will attract pedestrian activity and encourage residents to go out and enjoy the city. In addition to increasing the energy on site, key design features will foster the goal of revitalizing an overwhelmingly auto-oriented environment: • The building massing responds to the context with City stakeholder design visions of an urban, street wall solution, attractively landscaped in the public realm. • The perimeter of the site is lined in multiple locations with attractive, iconic architecture and active uses, in ways that respond to the specific context of each particular street such as The Festival Street and Broadway where higher energy and desired activity. • Attractive outdoor spaces are provided adjacent to the lobbies of both the residential and community center uses. • Recessed window boxes provide architectural visual interest as well as built in public benching along the sidewalks at the lobby and Community Center facades. • The amount of curb cuts are minimized, and no curb cuts associated with the project are located on Broadway or The Festival Street. • The pedestrian-oriented fabric of Broadway and 2nd Street will be enhanced to facilitate the connection to the larger commercial downtown core and City Hall. • An abundance of bicycle parking is to be located throughout the site to encourage a multi- modal user experience with 50 stalls to be provided on site publicly available and 75 enclosed and secured private stalls inside the structure. A total of 125 bike stalls will deliver well above bike parking standards. LONG TERM VISION AND OPPORTUNITY We are excited to have an opportunity to collaborate with the City on this important piece of Destination Downtown. City of Meridian stakeholders, elected officials, staff and community have created a thoughtful and methodical process to promote and expand the City in a prosperous and sustainable way. Improving the walk and bike-ability of downtown will create mobility and pedestrian friendly spaces to live, work and play.We believe our design solution supports the City's long-term vision. We also understand the importance this design opportunity provides not only with the immediate delivery of a single completed project day one but the opportunity for this project's long term contribution to the built environment and a prosperous Meridian 10, 20, 50 years from now. City of Meridian, ID RFP Submittal PAGE 41 River Caddis Page 204 Item#1. 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OUR TIMELINE 41 City of Meridian Chooses Development Partner October, 2021 41 Design Process - Public Engagement Begins November, 2021 40 Entitlement Process January, 2022 41 Final Drawing Submission June, 2022 41 Land Closing - Site work Begins July, 2022 Parking Structure and Community Center Construction Begins October, 2022 Apartment Construction Begins July, 2023 Parking Structure and Community Center Shell Complete December, 2022 Community Center Occupancy July, 2024 Apartment Occupancy August, 2024 City of Meridian, ID RFP Submittal PAGE54 River Caddis Page 217 7 A r rt i o � o � _ _ c Item#1. o ti d x o C 3 3 - O N r K ti v A 2 — 2 A �_ N MEW p u� 3 � ■ - - - - - - - - - - - - - - - - - - - �D - - - - - - - - - - - - - - - 3 ---- ----- -- - - - - - - - ----- - - Ep R3SS 00 . - - 9 - - - - - - - - - T 2 P�F N Page 218 i PLAC i' We work at t e i nvitation of resi ents �"- "' ' ' w ith the understanding that they ave a dee p understandingnot ony of the ro emsfacing is 9 their community, but o _ the best solutions . NUPUR CHAUDHURY a City of Meridian, ID RFP Submittal PAGE 56 River Caddis Developm4 Item#1. PLACEMAKING NARRATIVE SITE LOCATION & CONNECTION A development in the heart of historic Meridian brings so many incredible opportunities for future residents and the community as a whole. Only few short blocks from City Hall and multiple other established and in progress developments, this project will help to develop the evolving identity of the growing district. The adjacent planned festival street and established business form the spine of the community that is thoughtfully adapting to exciting changes while preserving the character that makes Meridian stand out as a destination and walkable city center. The built and planned bicycle and pedestrian infrastructure connects this site to much more, allowing residents to connect to the diverse amenities within the community. STREETSCAPE AND LANDSCAPE Extending the street character of the downtown district will serve to integrate the new development with the established core character of the city. The strong aesthetic components of the Meridian streetscape standards will be incorporated throughout the site perimeter, with notable areas of expansion at specific entry points. Building Entries will be highlighted, with special attention given to the community center entrance and apartment entries. These plaza spaces with serve to welcome residents, guests and community members with tree canopy coverage, seating elements, and enhanced bicycle parking areas. On upper levels of the development, residents and guests will enjoy amenity terraces with patio access, seating, sustainable landscaping, and other residential amenities, further establishing Meridian as a premiere residential community for years to come. City of Meridian, ID RFP Submittal PAGE57 River Caddis Page 220 � 9 . r r 4 ;. `PISiyp �, 5 •. 3r wj "".• ] .., 1 ■ • Y' Ay I MIA, r r a - ,h • Item#1. } ` , tVAAz Q M v � - Q � v' �� hMe,d�ahoed 0 fp / 1 ♦ Ul r tt nmatusn.c tt tt tt tt tt 1 S � E2nd street ` } 1 E 3rtl 51r..[ 4 \ / 1 ` e nn sweet E Sth street 14 ? anw ui:nipeawnleM - SO L 3 0 DODO m D00 m m 3 3 Z � Page 222 A � N N CASE STUDY Those with good i ntentions make promises . Those with good character keep them . , w UNKNOWN! I� LES 0 **A CASE STUDY FOR THE CITY OF MERIDIAN** 3RD NARRATIVE Jules on Third apartments are a product of the Public and Private sector coming together to solve mutual Ad% SIZE objectives. River Caddis Development partnered with Ada 173 Units County through a vertical and horizontal condominium DATE ownership structure. Both groups aligned each other's 2021 interests focusing on delivering more parking for the DEVELOPER County Courthouse, increasing the tax base, introducing River Caddis a new luxury market rate residential product and a Development community oriented and walkable development. The 0 112" COST development was completed in 2021 with its grand l ARCHITECT opening August 5, 2021. This one•of-a-kind partnership J� was successfully completed through ongoing and / ' OPUS AE effective communication and consistent and unwavering CONTRACTOR problem solving from both parties. Without this • • Design Build Jules on Third Apartments and Ada County parking structure would not have been possible. — w -i a 00, - — 1 1 k w - City of Meridian, ID RFP Submittal PAGE 61 River Caddis Developmi 1� . _ 1 \II I,lil AIL ■II 3• � , i i i 1 I- I rF m City of Meridian, ID RFP Submittal PAGE 62 River Caddis Developn O EASING'° ` :! �„�50,o NGW — , I IVA lit �����i�y,ollllru � _ .�R �•. 0 0 11ti e _ I — City of Meridian, ID RFP Submittal PAGE 63 River Caddis Developn ,. 00 wo I .tfk > , AAAA - =- f 4- n "Nai x City of Meridian, ID RFP Submittal PAGE 64 River Caddis Developn FINANCIAL is ,$ Finance without strategy is n-umb,ers,.!'' and strategy wit ut el s 0 ust drea - - • �r ! B 0 i City of Meridian, ID RFP Submittal PAGE 65 River Caddis Developm4 Item#1. www.rivercaddis.com izivERc�Dis D1PMENT August 24, 2021 Ashley Squyres, Administrator Meridian Development Corporation 104 East Fairview Avenue, #239 Meridian, Idaho 83642 meridiandevelopmentcorp@gmail.com RE: City of Meridian Civic Block Project Financial Information Letter River Caddis Development has completed numerous developments similar in size and scope to the proposed Meridian mixed-use project. We have an extensive list of debt and equity sources available to us, including our own internal capital that could fund this project. Our recently completed, mirrored project in Downtown Boise, was financed by Zions Bank and through RCD partner capital. Zions Bank has provided a reference letter indicating their experience with RCD and willingness to be the finance partner for a similar project in this region. If awarded, River Caddis Development, LLC will later form another entity for this project. We have taken an unconventional approach to our submittal document and information regarding our financial methodology for the Civic Block Project. We specialize in a solutions-through-partnership mindset, and this helps us focus on the objectives of our clients and partners first. We understand, through the RFP document, what the City is looking to accomplish and believe we have the framework and collective team to create solutions to bring this project to fruition As seen in the exhibit below, we have outlined our hard and soft costs in total, and then broke them out by each use. This `gap analysis' allows us a starting point in collaboration with the intent to maximize meeting successful objectives. Exhibit A. Meridian Proposed Development Sources&Uses(includinggap analysis) 174 414 20,ODD SF Apartments Parking Stalls Community Center Total Land Cost 500,000.00 0.00 0.00 500,000.00 Hard Costs 33,571,950.00 15,053,350.00 4,652,750.00 53,278,050.00 Soft Casts 5,522,878.00 1,902,134.00 758,110.00 8,183,122.00 I Costs 39,594,828.00 16,955,494.00 5,410,8b0.00 67 4G7 T2M Debt 27,716,379.50 4,500,000.00 0.00 32,216,3713.60 Equity 11,878,449.40 0.00 3,950,000.00 15,728,443.40 Surplus/(Gap) OJIM (12,455,484.00) (1,560,860.00) (14,016,344.00) 1. Hard cost estimate for community center includes a$125 PSF tenant inprovementallowance. 2. Hard cost e5tirnate5 include a 5%contingency. 3. Parking debt assumes 3.5%interest ratef20 year amortization supported by$100 per space in monthly revenue and a 25%expense ratio. 4. Soft cost estimate includes a4%developer fee. 1038 Trowbridge Road O Office:517 703-2107 Email:jmcgraw@rivercaddis.com 3467269 East Lansing,MI Mobile:517 420-7393 Web:www.rivercaddis.com 34886958.2 Page 229 Item#1. www.rivercaddis.com RV ERCADDIS DEVELOPMENT We have anticipated the total costs of 174 apartments (with a Land Cost at $500,000) is projected at around $40,000,000. Based on market comparables, we expect rents in the $1,200-2,600 a month range. This will allow us to reserve 10%of our units for those making between 80-100%AMI. If this was the assessed value, we would anticipate around $332,000 in property taxes on just the apartment portion of the project. We are not currently showing projected operating statements as we believe$500,000 is a fair re-use value. We are showing a design for a 20,000 square foot community center and a 414-stall parking garage. We have included additional income from the residential units reserving 173 parking stalls for $100.00 per month. Parking debt assumes 3.5% interest rate over 20-year amortization with 25% expense ratio. We are showing a cost for the community center including tenant improvement allowance, or turn-key delivery to be at$5,410,860. We have yet to include property taxes for the community center or the parking structure as we need to mutually agree on the financial and legal structure behind these uses. Due to the public nature of this submittal and process, we have designed a condensed version of our proforma and sources and uses for this submittal. Having recently completed our Jules on Third Project a few miles away, we have a very good understanding of the costs and process required to make this a reality, including the public private partnership finance and ownership structure. We are happy to facilitate meetings with stakeholders involved, both from Ada County and Zions to understand our real estate experience, and financial capabilities. We are also willing to share additional lender information and financial information under more strict confidentiality parameters. We are excited and eager at the opportunity to dive into the numbers and structure with the City of Meridian. Please feel free to reach out with any questions or need for clarifications. Sincerely, RIVER CADDIS DEVELOPMENT, LLC Michael Driver CFO 1038 Trowbridge Road O Office:517 703-2107 Email:jmcgraw@rivercaddis.com 3467269 East Lansing,MI Mobile:517 420-7393 Web:www.rivercaddis.com 34886958.2 Page 230 FI NANAC IAL VIAB I LITY AN D , -:f - REFERENCES �- kk Earning trpst. is n r is it c � ea . ._. p-,.m kapgn quicki Earning trust comes w _ enuine effort n S r r Fy } w 1 alick and - ro m- - MAXM0.DE PREE City of Meridian, ID RFP Submittal PAGE 69 River Caddis Developm4 Item#1. Be CAPITAL Be DEVELOPMENT CORP Meridian Development Corporation Board of Commissioners c/o Ashley Squyres Meridian Development Corporation 33 E. Broadway Avenue Meridian, Idaho 83642 To Meridian Development Corporation Commissioners: As you know, Boise Caddis LLC recently completed a project in the River Myrtle Old Boise (RMOB) Urban Renewal District in downtown Boise. The project, Jules on 3rd, is a public-private partnership between Boise Caddis, CCDC, and Ada County. The mixed-use, residential building created ground floor commercial space, 173 apartments and a 400-stall parking structure serving both Jules on 3rd residents and adjacent County Courthouse employees. As part of the agreement, CCDC will reimburse Boise Caddis for the construction of public improvements contemplated in the RMOB District Plan. These improvements prioritize sustainability and the pedestrian experience and include storm water improvements, pedestrian amenities at the corner of 2r'd and Broad Streets, and wider sidewalks along Myrtle and 3rd Streets which enhance the important connection that 3rd Street provides between downtown Boise and Julia Davis Park. Boise Caddis first met with CCDC in 2017, two years before the concept was presented to the CCDC Board (unanimous approval) and to the City. The grand opening celebration was held August 5, 2021, at which time we understand the residential units were approximately 60 percent leased and 40 percent occupied. Throughout the projects' construction, and now during CCDC's verification and reimbursement process, Boise Caddis LLC has demonstrated proactive communication, responsiveness to overcoming challenges, attention to detail, and the ability to meet established schedules. We appreciate the opportunity to speak about the Jules on 31d project and to CCDC's relationship with Boise Caddis. If you would like additional project data or comments, please feel free to contact me. Sincerely, Alexandra Monjar Project Manager— Property Development (208) 391-7305 Page 232 DEVELOPMENT CORP Item#1. ZIONS BANK. August 4, 2021 Ashley Squyres Meridian City Hall 104 E Fairview Ave, PMB 239 Meridian, ID 83646 Dear Ashley: River Caddis Development ("RCD") is an owner and developer of a substantial multifamily project in Boise,financed by Zions Bank. In our underwriting,we did an extensive review of the sponsors' real estate portfolio and financial statements, both of which evidenced great financial strength and depth of development and ownership experience to warrant a multi-million-dollar credit relationship. Our relationship with RCD started at the time they entered the Boise market in 2018. Relations have been positive. Their professionalism and responsiveness are excellent. We highly recommend their development services. We find RCD and its construction and development team highly capable of developing multi-million-dollar projects, and appreciate their commitment to the communities they operate in. Should you have any further questions, please feel free to contact me. Sincerely, we.,.;X, Y10at Wes Jost Senior Vice President I Senior Director Zions Bank Real Estate Banking Group 208-501-7491 Real Estate Banking Group 800 W. Main St., Boise, ID 83702 Page 233 Item#1. G1"t Y O� r 14 110 • Midl a City Hall•333 West Ellsworth Street•Midland,Michigan 48640-5132• 989.837.3300•989.835.2717 Fax•www.midland-mi.org October 4, 2020 To Whom It May Concern Re: The Stadium District Brownfield Reimbursement Plan/East End Midland, Michigan I have been requested to write detailing interactions the City of Midland had with Midland Downtown Partners LLC and River Caddis Development LLC as it applied to a brownfield development in downtown Midland. I do so to convey our experiences and results with that project and these development partners. The City of Midland worked with Midland Downtown Partners, LLC, specific to a Brownfield Plan Amendment, commencing in 2012. The Development included the demolition of the former McKay Press and First Choice Auto Sales buildings located in our downtown, and resulted in the construction of a four-story, 230,265 square-foot office/retail building that fully complements the adjacent Dow Diamond. The redevelopment of the Property required extensive environmental and non-environmental activities that were necessary to prepare the Property for reuse. The principals of River Caddis Development, LLC, are one of the primary owners of the project, which is now called East End. In our experience with them, we found the development team to be knowledgeable and transparent throughout the process. The City of Midland approved a Brownfield in the amount of $9,392,669 (which included 5% interest) with Tax Increment Financing projected over approximately 20 years. During the construction of the project, the developer was able to reduce the amount of eligible costs to $5,541,843, which was fully reimbursed in less than 6 years. This was consistent with early discussions between the City and developer, even though the formal documents and approvals specified the higher amounts and longer timeframe set out above. In our dealings with them, we found the ownership group of Midland Downtown Partners to be professional, transparent, and knowledgeable. Additionally, they appropriately and fully documented all eligible expenses making the entire process run smooth and efficient. Any numbers questioned by the City were fully explained and resolved quickly. Based on the positive experience we had with them the East End project, we have previously acknowledged and made known that we would welcome the opportunity to work with representatives of River Caddis Development again. Sincerely, C. Bradley Kaye, AICP CFM City Manager Page 234 SUMMARIZATION PAGE Never doubt that a small group of thoughtful, � committed people can change the world . Indeed . It is the only thing that ever has . MARGARET MEED City of Meridian, ID RFP Submittal PAGE 73 River Caddis Developm4 RFP SUMMARIZATIO METRICS METRICS SUMMARIZED The below is an information page to summarize some pertinent information on one page for conveneince when reviewing the proposals DEVELOPMENT ENTITY River Caddis Development, LLC - � �,�� Workforce Total Stalls Total Units Units """"' Extra Stalls 173 10O 50 Total Years l Experience $332 New Jobs 62M $500K Created 293 Taxes Project Size Land 315 Created Price i.-J, � PROJECT SCOPE PROJECT SIZE ($) FLOORS 8 Stories PARKING STRUCTURE 17M HEIGHT 85 feet COMMUNITY CENTER 6M -.�. PARKING GARAGE HEIGHT 4 Stories RESIDENTIAL 42M PARKING FOR RESIDENTIAL 194 TOTAL 63M PARKING FOR CC 170 TOTAL B1KE STALLS 1250 OTHER METRICS UN-h MATRIX 173 TAXES CREATED $332,000 #MICROS 24 STALL REVENUE $100/MO �- w #STUDIOS 32 RENTS $1200-$2500 #1 BEDROOMS 73 #2 BEDROOMS 44 COMMUNITY CENTER SIZE 20,000 sf City of Meridian, ID RFP Submittal PAGE 74 River Caddis Developm4 Item#1. Respondent accepts and agrees with all the terms and provisions of the RFP and any addendum(s) and specifically acknowledges receipt of the following addendum, if any, to the Request for Proposals which addendum have been considered by Respondent in submitting this proposal (if none, state "NONE"): Addendum No. 1 X Addendum No. 2 X Addendum No. 3 Addendum No. 4 Submitted by: RESPONDENT'S BUSINESS NAME (type or print) ,0 By: in n ) Date: UST 24. 2021 Name: JOHN MCGRAW (Print) Title: DIRECTOR OF DEVELOPMENT Bus. Address: 1038 TROWBRIDGE ROAD, EAST LANSING MICHIGAN Phone: 517.420.7393 Email: JMCGRAW@RIVERCADDIS.COM Note: If Respondent is a corporation, give state of incorporation. If a partnership or joint venture, give full names of all joint venture partners and/or other partners. RIVER CADDIS DEVELOPMENT, LLC; A MICHIGAN LIMITED LIABILITY CORPORATION. Respondent declares under penalty of perjury that the foregoing is true and correct. Page 237 Item#1. www.rivercaddis.com RI V ERCADDIS DEVELOPMENT Via Email August 24, 2021 Ashley Squyres, Administrator Meridian Development Corporation City of Meridian, Idaho meridiandevelopmentcorp@gmail.com Re: Letter of Intent to Purchase Real Property via the CIVIC BLOCK PROJECT RFP, located in downtown Meridian, Idaho. Dear Ashley: As proposed in our submittal for the Civic Block Project RFP, we are interested in entering into a purchase agreement for the property described below. The following is an outline of what we would propose as an initial framework of our relationship. If mutually agreeable, we quickly translate into a purchase and sale agreement. This letter is not intended to be a binding contract but is intended only to provide the basis for negotiations for a formal agreement. 1. Parties: a. Seller: Meridian Development Corporation and the City of Meridian b. Purchaser: River Caddis Development, LLC, on behalf of an entity to be formed prior to closing. 2. Property Approximately 1.25 acres with a street addresses of 201, 223, 231, and 237 East Idaho Avenue and 226 East Broadway, Meridian, Idaho hereinafter referred to as the "Property". 3. Purchase Price: Five Hundred Thousand Dollars ($500,000.00) payable at Closing. 4. Escrow: $50,000.00 escrow deposit with a mutually agreed upon Title Insurance Company upon full execution of the Purchase Agreement. Becomes nonrefundable after expiration of Inspection Period, as it may be extended, unless notified prior by Purchaser that it does not intend to proceed with purchase. 5. Inspection Period: Purchaser shall have 180 days after the date of an executed Purchase Agreement to inspect the property and to ensure, to Purchaser's sole satisfaction, without limitation: a. The appropriate zoning classification is established that allows the construction of a sufficient amount of residential and/or other uses by right; b. That an appropriate site plan has been approved; Page 238 Friday, August 24, 2021 Page 2 of 4 Meridian Development Corporation Letter of Intent to Purchase www.rivercaddis.com RIVERCADDIS DEVELOPMENT c. That utilities (sewer, water, storm, electric, gas) are available at the property without additional costs or surcharges; d. That the site is not environmentally challenged; e. That the site has adequate ingress/egress; f. That sufficient parking can be obtained. 6. Extensions of Inspection Period: So long as Purchaser is making progress with obtaining municipal entitlements and/or financing, Purchaser shall be entitled to three (3) 60-day extensions of the Inspection Period. 7. Termination of Agreement During Inspection Period. Purchaser may terminate the Agreement at any time during the Inspection Period, or extensions, for any reason whatsoever and receive a full refund of the escrow deposit(s). 8. Closing Date: 30 days after expiration of the Inspection Period, as it may be extended. All escrow monies shall be nonrefundable after the Inspection Period, so long as Purchaser has not notified Seller of its intent not to proceed with the purchase. 9. Delivery of Documents: Within 10 days following full execution of the Contract, Seller shall provide all of the materials in its possession listed below: a. Copies of the tax bills on the Property for last 3 years. b. Copies of all leases on the Property. c. Copies of all environmental reports and assessments, including soil tests/reports. d. Copies of all covenants, restrictions, and agreements pertaining to the subject property. e. Copies of all current and prior surveys and site plans. f. Copies of all lease agreements and rental agreements impacting the property. g. Copies of any and all government notices and permits pertaining to the property. h. Any and all other documents now in Seller's possession that may contain disclosure information pertinent to Property and Buyer's contemplated purchase. i. Any and all title work/documentation. 10. Seller's Representations: Seller represents that to the best of Seller's knowledge, as of the date hereof and on the date of Closing: 1038 Trowbridge Road O Office: 517 703-2107 Email: jmcgraw@rivercaddis.com 346726LrL East Lansing,MI Mobile: 517 420-7393 Web: www.rivercaddis.com 3467262P 34886958.2 Page 239 Friday, August 24, 2021 Page 3 of 4 Meridian Development Corporation Letter of Intent to Purchase www.rivercaddis.com RIVERCADDIS DEVELOPMENT a. There is no pending litigation, claim, investigation or condemnation against, relating to or affecting the Property; b. There are no notices of violation written against, relating to or affecting the Property; c. There have not been hazardous materials stored on the Property, and Seller has no knowledge of any contamination; and d. There are no leases or service agreements relating to or affecting the Property, other than disclosed to Purchaser. 11. Confidentiality. All negotiations regarding the Property shall be confidential and shall not be disclosed to any person or entity other than the respective advisors, staff and necessary third parties, such as attorneys, accountants or prospective lenders. 12. Exclusivity: By executing this document, Seller grants Purchaser the exclusive right to negotiate for this property and project. The Purchase and Sale Agreement immediately following, will supersede this exclusive. 13. Brokers: Purchaser and Seller do not have broker agreements in place for this transaction. By signing below, the parties indicate their intention to proceed with reasonable diligence to negotiate and execute a Purchase Agreement based on this 1-01 within 30 days. Please do not hesitate to contact me should you have questions regarding this letter or its intent. We look forward to discussing this matter with you. Sincerely, RIVER CADDIS DEVELOPMENT, LLC John McGraw Director of Development 1038 Trowbridge Road O Office: 517 703-2107 Email: jmcgraw@rivercaddis.com 346726LrL East Lansing,MI Mobile: 517 420-7393 Web: www.rivercaddis.com 3467262P 34886958.2 Page 240 Friday, August 24, 2021 Page 4 of 4 Meridian Development Corporation Letter of Intent to Purchase www.rivercaddis.com RWERCADDIS DEVELOPMENT SIGNATURE PAGE ON NEXT PAGE Seller: BY: ITS: Date: 1038 Trowbridge Road O Office: 517 703-2107 Email: jmcgraw@rivercaddis.com 34672611"LQ East Lansing,MI Mobile: 517 420-7393 Web: www.rivercaddis.com 34886958.2 Page 241 f � � zfff 0 r E F I v C A D I S D EVE LO - M E NT = ,. MA P P . S E N TAT 1 0 Nik 06 _ U It T Ok r j + - 7 r #' - del .�- � - M --NIEL ON L - WWI - - � hL p,-dM •} _ Ap� - _ G r , , � �•r�'f���� _• � HMV��" -'"" � •�}.,T=� '•� ._r'•'- - _ � - '��••--tF' ' • 911. We are honored and privileged to be presenting our team and concept to our - - - + wonderful City and its leadership. - i Jf -Ir . , ti ti f IN I -IN IN { NNI TA B LE 0 F dd. 6 k I . CONTENTS r r IN _ �irk 11 , _ ',N•}= - { y,�� '�_' • -� � � � - Tom'. y ��� 4 + FTC ' r ' ' ' - r 1 + r f � r r� Y r I `I _ - s 1 IN i r _ , NN# + *, r 1, Introduction - -} . _ � r , � t . = - . - r rr �y . f ' r _ IN 1 Mc I �.WI _�4.1 r 1 .�` mil•- { ti ; 2 . Concept } .�. '. �.� - _ i Plan f � } { . r _ _ ,rrIN a . ,r b . Floor Plans _ r - c . Design � . : : _ ILL� % r - i' r.w rr '_ } - d Connectivity �': ��. _ IM '+ *� _ - ' {{;� '- = III e. Placemaki n p _ �}: �? r r y , ; ., - NI N- J%-9%:-W-k 9 IN I r ' r f+ ram' �'. 3 . Economics - '�- , �� � . _ �� - -� r _ �10 r - t.. r� 1- r � ~ ' } _ _ k NNN 4. NNb Qualificationsrf�. � . �: ; � �. � ; IN . _� ti IN a _ ti a . TeamtnIIIIi _ t. _ �-� 5 �� 1ti tir. i � Y b. Or Structure - tii. �� r g NI c, Key Elements _ r _ r ' � +r d , Ex erience _ _ IN - r e, Case StudOL 1 _r .. +. � h I. r,, r IN NNX 41 5, Financial Viability ti' : x � � '� - - r� r� ' 1. •} 'a i � 6 . Vision Goals Objectives r _ P.IN Ai �� rh#��'�'�� Ste , 44 % .' . � �,. 9 7. Schedule : ' r r � � t _ _ . r. ;C 8 . MISC IN S. * + r' ' � 4� i '�• _ "- Fr i a . Parking t .. . ,.. { , ;� . : . 90 b , Creativity innovation Sustainabilit �a , 9 Final Thought ` h } t _ '•' k. 10 . Q&A �� _ � r �� LINE L4' IN f `' r I 30 4v T? I. . rirk ti+ar y r # } iL 'fir _ - ; JF V "W� o � � + •p 1 F• is _•� i Y � ir dw r i �r-1 � r ,` }! ,•,fir '+ _ _ w■ � r - 1 y � _ ri r ~'VL ti �'r y r 4p + f _ f +y ' 1 - f ti11 _ ` ti " ,t' rLr t - ' -: 'FS " f. fir+ 'h INFRASTRUCTURE LAC RC D 4r ti gr rbrr w .r • `.t '. + .�r ram - `_ - F� • # .i* ilk jo 6 te -Ilk I r+ I IL x - "' _ref`. - f r` r , ' '- � - r f ' � t'}, r 1 a{ E N N 40.-,p • Y ,J� if 1 r �'�r �� _ _� � + 1# r 4 '� y � '}k y % 5 1 1 �1�- ti t � * tiz �� rr'y - i • { ti4 r ram - ';_�• .7 y �� ti k - tiff # -Al - r "�E { •� ±' F 4jr tiro t M'ti - .�� r , y• is _ y 14 IL- 1 _F _ _ = � F ,_, r 1 Ilp y ciltlp • ldpr �• ~ }: `' f �, ' 19�v - y RL #' 1 G R i+r'` m E dr �r T A R T E S H I CO- NCEPT i % r � rr '• rf .' r QLP Ir lkp6'!All Fr r- -fir• � ' r � or Jr , ti - - •�r '. r '� r _ k X. ti gar ._ i C O N C E P Tpe 4I The details a r ot the Beta i ls They make thy- desi NO Charles Eames � � � .. , . ... l .ill�lll Item#1. I Q_w I _ LEGEND tit 11 ''1. • - ` 111SSSS ,]h .r - FESTIVAL STREET = - CITY STANDARD STRE ETSCAPE 4 - PARALLEL L PARKING (D UNBOUND � � � � ■ 4 - ENTRY PLAZA _ LOAD"AMA -- : : Li - LEASING PLAZA } - PALING ENTRY LOADING ACCESSAi -`- COMPASS r - ROOFTOP RESIDENTIAL PATIOS - �2-STORY) - ROOFTOP AMENITY POOL (ROOFTOP AMENITY KITCHEN 0 F ----- L 9 - 11 - BICYCLE PARKING _Jrwwq� Wj% Page 247 Item#1. . . E IDAHO AVE 6" 30 - - - 30'-0" 30'-0" 30'-0" 30' 0" 16'-6" LOBBY 1 LEASING I BUILDING SERVICE 5,600 SF RAMP DIN o 12co _. 35 AUTO STALLS �y _ ®_ _ ■ ■ ■■ I I � I h I hI I I Y • I RAMP UP ELEC. r STORAGE M UNBOUND I I (2-STORY) n I I ■ I ■ I ■ _ TRANSFORMER TRASH o SHARED LOADING AREA M o N O M Z c Z .� n ■ e e COMM. SERVICE SHARED LOADING 1 MOVE-IN I cn r 2 POSITIONS -s STREET ACCESS GALLERY ' COMMUNITY CENTER AREA 2-STORY VOLUME I o F 20,000 SF I .: COMPASS �� n ■ ■ ■ ■ (2-STORY) r o 2p lf I I N 2- STORY ENTRY ARCADE ENTRY PLAZA (REFER TO ILLUSTRATIVE SITE PLAN) E BROADWAY AVE Page 248 Item#1. I I\�� ■ - � �, - v- - - IT. ■ ■ n I I I 28R ■ 1 BR 1 . ■ '. ■ ■ OPEN TO BELOW / RAMP DN I I 28'-1" 22' Y i RAMP DIN r . +12' I OPEN TO _ +32' . I BELOW +21' RAMP UP RAMP DN 84 AUTO STALLS TRAMP DN I I I 144 AUTO STALLS - - - - POOLABOVE i p I O I p I • • • • • i I I I I I � �' I I I I OPEN TO BELOW 1 I I I 2BR 1BR 1BR' - I p ST 1BR 1BR iBR iBR ST ST 2BR ST 2BR RAMP UP 7 AUTO STALLS I 22' fl" 22'-0" I RAMP DN ja AMENITY ` -y - CLUB ROOM FITNESS CENTER AMENITY +27 I ST 1BR 1BR ST ST ST ST 16R IBR 700 SF 2-STORY +1T g LEVEL 5 ONLY 4Eq � I ■ TYPICAL RESIDENTIAL FLOOR BR RAMP UP RAMP DN 40,000 GSF 144 AUTO STALLS 47 UNITS TYPICAL(46 @ L5) ELEC.I STORAGE — _ __ ■ _ ■ I MICRO 1BR I I R ST MICRO 1 n I - * T I OUTDOOR AMENITY DECK I 1 (REFER TO ILLUSTRATIVE SITE PLAN) 2BR 1BR I I I I I I I I I I I I �.; 1BR I I E EEV. I I I I I I I I I •I 1BR ' 2BR MICRO 1BR 18R 2BR I I I I 1BR I I ■ ■ ■ � I ' `� , I I iI I I JI I I I 2BR 16R 1BR 1BR 1BR 1BR MICRO - 2BR Page 249 Item#1. Leve 18 R 33e750 33J 750 28r650 4r 100 1JO00 5 8 17 10 1 41 52 Level 7 R 33e750 33,750 28e650 4, 100 1JO00 5 8 17 10 1 41 52 Leve 16 R 33e750 33x750 2gr650 4r 100 1 JO00 5 8 17 10 1 41 52 Level 5 Rx A 33e750 33,750 27e950 700 4; 100 1 JO00 5 8 16 10 1 40 51 Level 4 Pe R 61e300 54 1OO 7r2OO 2+900 1+000 3J300 144 2 1 2 5 5 Level 3 Pr R 61e300 54j 1OO 7r2OO 2;900 2; IGG 1;000 1j200 144 2 1 2 5 5 Level 2 P 2 9 r4OO 29 j 4-0-0 .0 2 9 e 7OO 84 Level B P 5e2OO 5t2DD 7 Total 349,900 17.1,3 00 156,600 22pODO 119,700 SAW :18.p4W 39.p4W 414 24 34 71 41D 4 173 217 14 20 41 A - Amealty Table 1 - Project 5 U rn ma ry L - Lobby Notes - Parking Total Apartment 1x CC - Cornmuni Center Total Community Center GSF 22,000 R - Fie 5 i de nt i a I Tots I Garage G SF 171.300 Tots I Project GS F 349r900 Page 250 t m i FF _ R .0 1/4 JWY 71 rA t �• ��r +.' pr =1i.+ ;. - .- ty _ � a r'."~ - .. .. 2'._ •� 'M _� - .. - ` �� �• ya,' _ ry;' `_�; 'y �.5�� .�QJf'S� �' Jl r km :dam ._ � �� ! � _ ,�_ �� Y. •r., :4 ` x ti. 40iAl` Afif L - r ` ` ` AL op AL AL • s - ■ • op s s r _ � tf rryrf f i� F00 r �. r i _ - - . 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' �� Wiz- - - _ �� � Sk Olk- zw 1p • ii i � i * i i i � i i * � � i i i { e r i i i d i ! f l j'r r J I lip JJJ 00 a!1 lionMmliL i � l 7 r " po t - 06. ; Ip QUY +._ gla i _ = 40 jow- • - • i 1 .. ,5 �• 7 i 7 7 7 7 i � AL i i S ' i � i i i � i � ■ i ■ i i ■ 1 • f } r F I � + I POP - #� I ' LYYF_i.; oil IP IA V 1' L6L, . . r. • ., • i 1 1 t f f t ft i IL .11 =fir 1 � III wM -� - - - -- - _� e, rr r !tE �+ it ��� I.: -�I����•��II!.''•I�!:�I�;' �S� Lip -- r �JI ` r AOF M ■ �:. aram- � � M_ _ ^ --� � - _ ,� s �^ "�� �S`'�_ _ - _ -.. • ti r ��� �� � -- -mod' AA nw lillqq __ •.. �,x` ^ "•L �. fir.+ �..,r,•�� �'�__�� � ��-:.r'����-`' - `a7-� �.r.�• �!°"'r�k r-� __- `r - _ �r _L�r+-•- � _ �.s�; �} � .•!T r F= - r .`aR `- �*. �!�' -L_ Jz, ��`' ON ..3..+". - .4• � - '^- '� ¢ii 1� � III. •�� b � "-A-y �I:n,. � i�,,, � - �a�•�-. _ -�+ -s�'�"r,t•,i-. .. - •. '_ �.. .r - _ -•"••. - � ,� •-�:� - _ .fir.-,',,:_ .- .ice Yf..SYa• �F _ �7t1 �i lm WWI OFF - - • :3-.. - 1 1`� _ ift _ op AL i 1 l - - jr, - 3f rr i I If F, I if -•- - lit. PW r NN I i r - - s _ It NJ: .r Y _z i•" _ VMI -' r�. - _ � r_ _ • - YL� -'' ate_ �F � _f.' �.Y_ �+ _x' /- ��a - Pbr .'��M`-'- � 4. - ' • �L .�- Iti-- '; - rat � _ • '. a. AC ►����- —'.-�.-.. : - It M-1i JIM - - w 10 M LA I FAV-WRV M Mi EIII LEI STATL41! T W 1111:1 so]UPI .• • i i i i i i a i a i Y �I a Of ' I �� ..III..•III - q IJI luau I� I I. I ��, r -6c � s= � • � �- .,sue'+ -F=-:' pq wAy i F. ik - • i 1 t _ i 7 7 AL AlL pp— i sp A AL p s IL • _5X:m d ; i 1O y �: AIMPW -`rC 1;17 -f. . ,tom'`- y -. - 47 ^ � - _ _ •�y x _ _ �i��'�' L` x � wa S'"'=_ram, ; • ,' a .. �.. '� __ -. :�F-- +��} AV I Al — — i1i ?INN i' — r - a a i op i p i g sp i i _ i �I m �+ .�+r� Ir'I� ��`�� ill::• � � -- - i � :� FEW ow Noo w - :B&M gi NL - ,, ti ��raF "4 ` . . rr. -- '� ":.':'_. : . - - - - - - - - -- - - '• -- � I�Iltlll t ' + r — ~ im r- ' —�- 1H' Y �,F:• ��- '+ter. -_ � � _ _ A. ' taw- jr;, ow Ode f � • a■ TEN CORE FEATURES OF OUR PUBLIC PRIVATE PARTNERSHIP � mom I M_ A 710 t OL UNITS PARKING � -_� AMENI � � DIVERSITI PEACEMAKING 173 luxury units with 414 public and Rooftop amenity deck Integration of Zo% Enhanced varying sizes and private stalls With pool, zoom rooms , workforce housing streetscape with styles fitness center units places to Walk, talk , sit and rest. IPA 14 OF HEALTH , COMMUNITY ECONOMIC SAFETY, JOB CREATION C T R DESIGN BENEFITS CLEANLINESS Focus on all three through Creation of 315 20 , 000 SF turn - key Iconic design to Property , income and sustainable construction , construction jobs iconic community compliment and sales tax increases , equipment, placemaking , center stimulate new property value and dedicated operating developments in increase of nearby staff. downtown core neighborhoods Item#1. dot I w 2 ve 1 1 � L r' i• •ti �i: :rL �S�ti ka }L ........... Ll Lr•�Y•�... • i 1 �•1.11 •JI••11•1.1• .1• ••J 1 •III •• .r }t�tll. Ii. 1•.1•.1' ti'+i'11�[�[111111 1 --•L.••..••..••..1...... 1 ti•...1 11 1 . . . . .. •.1 til • 1 LL•.1••11• Ir•�r• 1. .. . � . r..... ..•S1 Lr I.�S1�1 Lr .•• r L...••.. • • .. .............ti r L .sZsti rL y��ti r'......• • - C...IL.II.titi r. •11'���'�r y��. rr.,�..1 •....� ..� ..� .� � .••.. � r .�11..��. •11'ti r'rr'r1' r1.1r _r.,1..1 .. .. .. .. r'11"11'�_'ti." tiL".ti'J.'J �".f'_•,1�IIIJ 11 -• - .. 511J�tr�.r'_•tiy. 'rIr r �' �ti 1i1'_�'�ati1r1 .. : .I�arRdr_tit?1.1 11EL u_1%u el LI�tt1•Llly . . . . . . .. .. r � .rtisl.lrvr+ }t.It1�t .. .. .. I r L•_: tit 1.,I�uu_4 L 1 L a 1 1. • 1 1 ' � Page 263 Item#1. LEGEND 1 1 y 1 �� Instftultionall clul( • f ■■ 0 •• - 0 Meridian City Hall 'M 000 ado goal E 1 nm 0 W idian Elementary school i - ,_ Col-P Valley Christian School fu 0 / 44 r fu _ E Stan Avenue Future Public Spy LA z z 4r F Uj W } u, ' 114400 7 Public Space O; w E Pine Awen►re Generation Plaza Play Field R Fire Mile Creek Pathway �.... . Ln E Idaho AN { Ma r Vehicular Thaw fa re SITE � • ti �. Bike Lane f, Pl a nned Dike La ne . ' W M ' Multi Use Path (Planned Facilityr 79+. Meridian Pathway master Plan) Union 93 Development Railroad 0 Festival Street Vehiwlar entry t , 4 F4Pk1c- man Entry 40 Page 264 ppp, Iri -in -Vel ` STRATEGIC PUBLIC GROUND FLOOR USES 14f . F 1 ' 7 r 1 L 1 1 1 { r aw IL it V 9 .16 11 .� k r Im r 95 ' , , I w I � • L 1 IF %Llk 1 pi IL 1 I -- T' ti do - I 1 F 1 ■ ' ' 1 1 - 1 1 � ■ 1 ti �' 1 •— � "r — - - - pplippoppori" _ ada � 'r ' J _ %I-L. '216 Awwo � � J i r i , i , � 4 7 CREATE STRONG ATTRACTIONS '�r : ' ■'- ■ - 1 i �'1 - 1 ■ - . AIL ;r ■ ■ ■ ■ ■ r ■■ • ` LIM0 1 ■■ 1 ■ ■ ■ 1■ . ` ■ r r ,■'1 ■ r ` 1 ■ . r ■ ti _ � 1EI ! ■ - Ir 1■ L 40 _ ■ O - r ME 1 V ■ - _ 1 I� ■ 1i � + -1 I , br IF lip E. IN m — ti �• i ti . ME No IN IN, .. 91 1 El ■ y 1 OLE • IN 90 • - - ME! mv L ME _ NIL ON ON IN or , . . ' _ 1 .r r ■ I 1 IN 4A"Fl� { 1 1 b A7 IN ME IN NO OF A 0Ti 071 0 or 1 _ 1, 1 IN 1NO 1 ■ ■7 • 1 r R rJ L r ■ ,■ I! IN . - , = 11• 1�r ■ • ' IN L IN ■ F - n _ 7 IN - dr •Ni'm NINE on 0 ME NE 1 r 1 I■a - r ME 1 - — - 91 .AmrMidi= i , T 1 Jlp 0 MOM IN I ■ 1 . MA .. .1 t N MOM :w F ti MAXIMIZE VISIBILITY AND ACCESS Oro narn )a J<itchen t � _ -40 - 4W •� ' • fi � '� _ - F -�� L� � M J fir _ f 1 I r + F 3 — y � ++ s RIF IL i ' L # Lis + _ r 1h - AMC* - Zzt I - r � �. � 1 e y _ F-6� IL y I 1 MAXIMIZE RELATIONSHIP TO DOWNTOWN vp� �l ML .- L - Am � -0 _ LE r � r 10— 1 -y rw X MOW, �}N , - IN z i 1. 1 y ( 1 ILy ff +•,1 - r IN IN 'Na or 4kr rz •r y,�j „ S ,1 r ,I , r ~_ y NN _ , + d IL •� 1 �• 1. r y ■ r NN re - •Y■ • _ y • ems_ -_ ' �• � � ,.L' y .ra � ' � I Y • tiIN F All f 1 '•i•� - `� i _ .1 r IN ti • y �' JF ' IP, ' ••All- ti916 1 IN 'A L rio J+ z FI _ ■a , m PAL ■ter rtr' A r_� y N ' • • •� L Item#1. i 1 L L • 1 1 1 1 - J I'I — 1 i 7 4�� by� • r Z - _�� • •Z L ti L ti- L ' � 1 _ ' - �1 _ __ LW (L 1 L � 1 1 - 1 ■ 7 l 1 . �■sr! ■{ ski r r _ ML SS �y ■- ; A r rl 11 11 r. it -- 1 jppop y . - r r j _ —yi• F • �-•• r � Page 269 —dIr � r E C O N O M I C i FPP 64 The ultimate resource in A. t economic development is people ,. It 'is people , not cap ita l . � or, raw mate I � � that�C ev lop n econom-tt }- Peter Drucke Op Am J� ir qP C7 0 , -, -Ll - I I I 46 1 _ r+ •f 1 _: _ �� .:` � - 1'{ +'� i r� a� �{tom * �#' -t -y� + F ; � - Fes: vI ECONOMICS ;4 --� . } le Ae 910 R. 14P -J', 4 . -L 1 .h T l ' Impacts of RCD and .1 � �� �.�, � k - } - �� � ` �; _ )f Lid In MDC/COM Partnership - -P * , �• J- A4r, LfQ f 4 * 4 ~ 9% Ar r 1A. y •r i r do M r q .6, OIL Lr } f lb L LNL- b. i OF id F 1 # -rd r 1 r.• f • i'f•� y # ' ' ~ ti f• I q i F _ - - ` i t 1 i {- 06■ _ P I f �S + 1 040 ter• � Odd A le: r dp o'� f Momlb ope- W LKABILITY ROOFTO POTENTIAL r ar REM, 6,,,, CONSTRUCTION �� POTENTIAL TAXES WnAlL _ JOBS OFFICE Item#1. II WdO f _ Y �14 r r n or Appr, - # i •� i { ,Mir t A Er imp moo j po cow EL. � _ f r Page 272 r � -- , F In 1Fl N. . . _ J . DEVELOPER/ OWNER/ - E A M RMRCdkDDl O - T.` dwr !Ulm PIP" 6_ L _ T LAM BUR IM - p LOD F TTi RN EY AT LA' OPUS DESIGN LAND GROUP GGLO CARDINAL GROUP sps E & B BUILD CIVIL LAN D PE MANAGEMENT / PAR CI INCENTIVE GENERAL lom ENGINEERINGARCHITECT PE T SOLUTIONSLEGAL CONTRACTOR -F.AARCHITECT / PLANNING/ ACEMAKINGE WAR I CH STRUCTURING ENGINEERING OF SURVEYING RECORD CIVIC . . ORGANIZATIONAL CHART Partnership Level a.a.a.a.a.+. .■.■.■.■.■.■.■.■.■.a.a.+. ........■.■.■.■.........■.....a.a. .a.a.a.a.a.a.a.a.a. h ' ■ Uniquely designed ■ 1 / 1 LEGEND ■ ■ ■ CITY � development 1 � ■ _ F achieve mutual ' CITY: City 1Meridianr ■ goals E&B: Elam f' + y Burke , I ` ■ OPUS DesignBuilld ' r t, GGLO: i Architecture ; TLG The ! Group FO • I Group ' MasterDeveloper RCD • 1 ■ ■ a a.a.a. .++T. r ..+r .+.a.a.+. a a a a a.a.a++. a.a. r+.+■ - ..+. .+. .+.a.a.+.+.r.+.+.•+.a. .a. .+.+.+. ' a i Project so 000 a + i a ■11a ' + OPUSLegal Structure Parking Structure &9 ■ F i F + � Ti., � - F i ■ Now - ■ ' - - _ + kk Financial & * WL FIncentive ............a. *SPS t - jpi } 39 St + + i + L a i OEM Design, + i f ti 1 ` t i � � + +' 91 operation - - ! . k1C111. GGLO TLG Landscape Architecturemanagement F E N $500M Corr n '•• Annual Pr jests Construction Undilerwa Projects 00_ 9W Ib Yrars .2 Experience - .•' ow Square Units Feet Developedlaw Developed or anstru16 or Owned Staterb 44}* Developments � � Present ' ■ , , ■ , Projected -- — Value � i W . 11 di ell r - ` i '' + i s 7K pl*r -M I%- 1 - Units Parking Stalls I� Managed Developed _ E Y E L "Aft - r M �. Jliq • 41 Full e r vi Extensive P3 Owners, tr n and turnkey experience managers, f i an i _ develo ment _ destgners, capa6ilities . . icolia6oratorsand access to lye � capita'. - - Walkable/urban oIIa C6orati National development community experience • focus experience The key element to the River Caddis development team , which includes its immediate delivery partners and municipalities are the ability to focus on the issues at hand and collaboratively work to create solutions, Item#1. i r , r � � . .!II; rri:.. •z.vv a:•'. a a:, t.�••=. .nr� z•!ema - .a_ '.I .rc+K� �s_•.=a.�.i :fit �: o�, `� •�if..v =°�md _ ;w i K4 A.._+:= .. :*Zay. e.�a vim...b3 a n. `ya';r.°abe`�•`. fig.; -` I - - - - .. r.9 r.r..'.. 'indfa'..r' _.a'+r..v. ' ,b I� .. - V7■ r.1��� �a..'=.•_�� -�.:.r•ail~ ii�. '�-``������� � ..G.a..s.�`�r..r .. - .. .______. ...___ �.�-._-. �.ry•:•a is • �+�.r .r rf Fd�!'. I IF IL _ _ - �ti���,�,.,,.. �-..:.r_.•'..= !•= -,-�a. �j _ - ._e .•�o'tea•^•"�r er �W _ �^ ..r wr4!�a.:.�..ti�,�•sa�eo rvG��!. _ - - .° _r.W r�.ar+v nyyd "�'i .e,:.. - -- ._"'...`... -- '��.a•: »tip "-.a�.a aa���s.• ire_.wr - - - 1� �.��. d. -, -- - -- - r - - Page 277 Item#1. 1 +1 t ry = AIII FS � ray 01, 14 0-4 4 I �fY L 9 Lw� I r yyy. �► .►, ■► ?►_J 7. IY1�7► � _ i 41-4 �.iiirC�►4►���4iJ.. ^,� r � :•.�+�I�i14 ra +�• _ l' 11:I►r - _ _ ■ � r■ J l J ,Y _ r»!� _ �21-•��", Jam' !r �► r�114-r Lr-,. :IFJ�_ I:r-jj1 f r "1�►�i r_+ ,^i* r. _ / I ,��.i1�i�+��i1:1� iJ1'�r:1`1-[^� J r'f/r,/+-ir,y�Y A• I i .I I \ ��,� h .`,�• .+ram• 0�4 +.' IY+1'_ f.r:n � .��.• _ _� _ — ^ oil II r � I f a, I I � ^_I - - VA. y - ArVOW jw ' � � u ± lll � liii 11 Nola - x- t ------- - � - -_-- - - it « ;.04 y tl All mv. =77.-� - Aog _ �Ir• _. ,P 3.. : l � tea, •r. ,.,;� ��,. - _ �•11 !_ JI - ,ate'• � � atr '4x E. �,�•i� .. vF �i 1 �µy�� ��xx 11 r���• l It•flow �C �:iiWi .�,1L II u� l'� •IlNr ili n��i. J I. _�,•'.:l�V€ c. �: f� -40 ,1 AR r wry k,� 4"'I��,d��l1l� �Gr�rl •u,� �•� ' -.. ��'� f '� _ �.�' r �'� Opp, r Vr _' V � � I ••��.1 W�.� F I N A N C I A L . min -'��- nnovation is an inexhaustib le �a�� ngine for econo �n ic�i�' -6 M­ rdss development ,, Li Keqiang 1k V W,-- M r () CHEMICAL BANK WEALTH MM1pGEMENT Nor All LN Item#1. i Meridian Proposed Development Sources & Uses (including gap analysis) 174 414 Apartments Parking Stalls C0 A rl r17 C � r _ter- Total Land Cost 5i3orOD0.00 0.00 0.00 5 0 0'000.00 Hard Costs 33r571p950.00 15.rO5 3 p 35 0.00 4�652�750.00 53p.278'O5O.00 Soft Costs 5p522p979.00 1p902p134.00 753J10.00 B'M'122.00 - Total C o 5t5 39.pSMp828.00 16.p-955_p484.M Sp4l%860.00 61.p9 61J7 2.00 Debt 27r716p379.60 T5CC,CCC CC 0.00 32F216r.D a � k:�- Eq u ity 11p979p449.40 C Cc 3p950pDOC CC 15.p 729p .4C &M (1-2.p455.p484.00) (1,5 60"S600 0 0 (14p 016r 344.00) _ �. Hard cost estimate for community center includes a $125 PSF tenant inprovementallowance. �- Hard cost estimates include a5 contingency. 3. Parking debt assumes 3.5 interest rate/20 year amortization supported by $100 per space in monthly revenue and a expense ral- . Soft cost estimate includes a 4 developer fee. F - F' f J T 1 Page 283 i L is APIM Aorm f 1 __ r•• i &woo T it �• � ` �! ■ .. + - (ISM po 1' .■ 1 put a . � � T dr a r �= 1 - t + Brian Tracy { � jw ••rr _ ter. _ — ;�• f �'�•�ff�r _ ' • • •' ' f L 76 yy •r. L T •1 J L•1 � y. r._�• r a �� •~ L _1 ti L 1 _ r 7 f 1 1 1 a pr- OBJECTIVE : -d PARKING S �DLUTION S— Hit tI -10 w MIN IF II III ,I�I, �►�z; � IIIIII �Y.�� 1 Ii��. 1 I WIN-M� r �e� I-M . v -- - _ - milk _s 5. .yam' � r I T_ � � �li.. • � �i �-� �y ss �� .-- f t •- - ._ 0 Item#1. . 1 • • 1 i L ti ■ -.0ow— � I � J r • - LAI �J 1 Imo. 1• r iVNN �f IN 1 1 L F Page 286 or qp �. . F 9L . r wr • r ■ a - 'f 7 'M;p MP ! p 1 STEPS : ■ 40 . - , OBJECTIVE : ' • . ` .� J�pr CREATION OF • _ T w 1' P LAC E 3b--c r L F' %6� M-Ir �. *.%,I ■ er r rl - ' ' do IL 7 } - ird4 . P - ;L r 7 L 1 -of -9 IF ppr/ . . � F F i or ■ . F t IL• M �, 1 Am ' 1 %66 - d 1 LM. ' ri r _ 1 f u 'r ` J 1 3•, - � 4r a _ r T ti , - �•1 L 1- I ti� t 'i F• V STEPS 47 OBJECTIVE : 6�� Il k KPL Al 6� ti y Al ' ~ ICONIC V, 1p. I ARCHITECTURE ti y ++�, � L 6 lb- jr - 9 loop } *` } - - -- •r i �'{ ti • +. w + ` _ 1 ..-�•� �.T�: • .�?^u ,,� ter, � r• '� !�•- ._ S•r-• r _ - -k T . AL 4 NO% F• V .may 4• ti� 'r r % •��� 46 mr ii 71SJ F '�y#y}�yr 5r + s i_ 'r .a• +i liti• r: all 161 IN I I- •' IN �. r, r Nor. � . . - J 'fir r L'r } L _, ' 1 '• '• {1 No IIIIN1+ • ' •r • - � 9 IN 'J 1 1 • ■ L , ,J or Lme 1 r � 1 I 10 I� y ; IN '``NN' • N.� ram• to, • •� •1 •. r �-'+ r - J rir T ti lr 1 L- 16 1 IN L. ' 1 + L �. T Lj•% 1 + 1 • F r_ NNb L • '� Ir r� . �, % - { - , Z _ ,• • - - 4A. t r • .ti '- - - 1 1 ' L 1 ' F r ■ L Y IN FIR 1 ■ ■ L r• TTT L i A F ' E i z = 1 4= _ • Iti, t 49 OBJECTIVE : � DIVERSITY IN HOUSINGdpr 06 ML 111 1 i r - r• ,• r � fi 4ma- -P- a �• r+ rx ems' 4h .26 4,0 f y ! ` f -4 r 5' i 7 k J. • y : i , - ' J r _ 6 t + r r It y . i Yy f #6 ' f —'r bud . • • • • • i r + rAftm Y _ E - _ 0 it eq a - VON t 4 r k i- ''tiyi� 5 r4p r r GGL F 51 OBJECTIVE : - ECONOMIC STIMULATION MERIDIAN MfiiglAN HISTORIC * . til lo R I C I DOWNTOWN - DOWNTOWN 1 sip 116i1010 f 1#s t wi4l d h r 1ppi b P ■ -1 1 I i � 7 t � ■ L r - T I M E 01 in T t tpl- TL . Erg Unknown ON Bomb— Of ;, It R 53 • . � JUNE 22 ' Final Drawing Submission 0:0 ell TIMELI0 LN 11 III LiNOV 21 ' �'F � �'i � � J U LY 22 ' Design Process Begins M Land closing , begin though January for site work , ground entitlement process to � - breaking ceremony begin � - - I � , y~ OCT 22 '-. DEC 23 ' - - Parking Structure and Parking structure and AUG 24 ' Community Center community center construction begins _ shell complete Building COA Grand . g Opening Ceremony Z J U LY 23 Apartment Construction begins r 7 r Jr Usil end f + &mwn % � I �� SALE � - � PARKING & FAMILY WAGE 0% JOBS lob rat •' *!0 H %IV INS.-fir w L • Tota V T1 F Eff 1 = � (R-anta I 5F E ross S F) IL •{'ti y - _y * Total S J J L, -� P A �e rt- I n leg rated Pa. rk i r g R eq . ( 1/u n it) h . - AL 90 Resident Park-ing Proposed fy' AdditionalProposed Shared Stalls _ AMP As a result of this development, we will have ' `5 {-� �_� , created jobs for people within the private f _ p p 91r { k development and management. The 9.0 - 4 =ILL - - increase of size of the community center alone will increase the need for employees to fill spots needed to operate the center. AW P - - INNOVATION . CREATIVITY, Idea SUSTAINABILITY � 1. Materials z Design 3 Programming INNOVATION 4, Financial no ogy 5 Legal 6 . 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