HomeMy WebLinkAbout7020RESOLUTION NO
7,020
A RESOLUTION AUTHORIZING STAFF TO PROCEED
WITH THE PROPOSED DOWNTOWN MIXED -USE
DEVELOPMENT PROJECT RFP.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS:
Section 1. The Staff of the Office of Comprehensive
Planning is hereby authorized to proceed with the proposed
Downtown Mixed -Use Development Project RFP in accordance with the
data contained in the attached memoranda.
ADOPTED: July 5, 1983
ATTEST: APPROVED: r 7L,s.cJ
Ci Clerk e Czech ayor J, W. Be afield
BOAR DIRECTORS
M M M M M= M
)MMUNICATIO
Exhibit to Res. #7,020
M E M O R A N D U M
June 21, 1983
TO: Mayor and Board of Directors
FROM: Susan Fleming, City Manager
SUBJECT: Proposed Downtown Mixed Use
Development Project
Board Action Recommended: Resolution authorizing staff
to proceed with proposed Downtown Mixed -Use Development
Project RFP.
The 1983 City Budget includes an appropriation of $20,000
for preparation of a development prospectus and Request
for Proposals to develop public property between Scott and
Main Streets.
The attached memorandum prepared by Nathaniel Griffin out-
lines the origins of this proposal and provides a descrip-
tion of the project elements and timetables involved.
nw
Attachment
Susan Fleming
City Manager
CITY OF LITTLE ROCK, ARKANSAS
City of Little Rock
Office of City Hall
Comprehensive Markham at Broadway
Planning Little Rock, Arkansas 72201
�e 371 -4790
June 10, 1983
MEMORANDUM
TO: SUSAN FLEMING, CITY MANAGER
FROM: NATHANIEL M. GRIFFIN, DIRECTOR 1(, %6'.
OFFICE OF COMPREHENSIVE PLANN�t�V
SUBJECT: PROPOSED DOWNTOWN MIXED USE DEVELOPMENT PROJECT /RFP
The Office of Comprehensive Planning is ready to solicit proposals for
the downtown mixed use development (MXD). One of the key Downtown
Development Plan proposals, this process will lead to designation of a
preferred developer for publically owned property east of Main Street
in the north end of Downtown. The City Board allocated $20,000 for
this purpose in the 1983 budget. We propose to retain a consultant to
help us package the necessary Development Prospectus and formulate the
public sectors selection strategy.
ORIGINS OF THE MXD PROPOSAL
From the
toward i,
might be
Scope of
Downtown
outset, the downtown planning process has been directed
ientification of an attainable development project which
triggered by the public sector. Section 9.0 of the
Services was entitled "Identify and Initiate Major
Revitalization Project ".
Both the consultant and staff concluded that redevelopment of
underutilized public property between Scott and Main Streets
represented the best opportunity to combine public and private
efforts in a " codevelopment" project. Suggested project com-
ponent� include a mix of hotel, office, parking and residential
uses. Ultimate project configuration, however, will be an
outgrowth of the developer selection process.
Need for a combined public - private development effort is mandated
by the critical location of the property involved. The City of
Little Rock has recently completed a multi - million dollar
Riverfront Park and Convention Center. It is imperative that
future development in the area reinforce this major public com-
mitment to the north end of downtown and the Arkansas Riverfront.
ml� no
r
M M M M M M M
Susan Fleming •
June 10,1983
Page 2.
II. OBJECTIVES OF CODEVELOPMENT
III
IV
60�xhi"t t "es .101�, 0"
Codevelopment is a process which involves combined development of real
estate by business and government. The public sector assumes risks or
costs normally borne by private developers, and, by so doing, derives
the benefit of obtaining a return on investment.
Through their ownership of approximately fire (5) acres of strategically
located downtown property, Little Rork and Pilaski County are in a
position to initiate a major development project.
BENEFITS OF CODEVELOPMENT
The public sector can benefit from codevelopment in several ways.
Competition
The City can obtain better terms for this property if it generates
a competition in the private sector. There may be development
possibilities not yet apparent which the process will surface.
The community can then select the best proposal from among those
put forward. The alternative is to wait for developer proposals
and then evaluate them individually.
Synergism
Large scale integrated development will produce a higher value end
product than incremental development on a piecemeal basis. The
concept assumes integration of project components, multiple -use of
facilities, and mutual reinforcement of compatible elements.
State House Plaza, combining hotel, office, convention and parking
elements is based on this concept of synergism.
Development in Conformance With Public Objectives
Future development in the vicinity
Convention Center, Riverfront Park
must conform to high standards of
way to insure that this will occur
at the outset and proceed only aft
velopment proposal.
PROPOSED CODEVELOPMENT STRATEGY
of Markham Street, State House
and the Territorial Restoration
design and function. The best
is to establish the ground rules
er receiving a compatible de-
Proposed strategy to be followed is outlined in Volume III. Implementation
of the Downtown Development Plan. Initial steps will involve preparation
of a Development Prospectus and Request For Proposals to be distributed
to attract private investors. Primary components of the Development Pros-
pectus are summarized in the document entitled Request For Consultant
Proposal /Mixed Use Development Project and include a market profile of
downtown Little Rock, legal study, financial study, and strategy study.
A consultant will be retained to participate in this process.
�. No= == M M M M == M mm M
• Ej&bit to Res. #7,020
Susan Fleming
Page 3.
June 10,1983
V. RELATIONSHIP TO PARKING
Additional structured parking will be needed it the near future to
accommodate demand generated by the Hotel /Convention Center. The
new parking structure at the intersection of Markham and Louisiana
Streets is being heavily patronized. The proposed Doyle Rogers'
Office Building, a half block west at the intersection of Markham
and Center Streets, will displace one -half block of surface parking
and, upon completion, will absorb the remaining capacity of the new
deck. Convention Center patrons will then have to park elsewhere.
The obvious location for this parking facility lies within the
boundary of the proposed mixed use development project. An active
public effort to plan and construct additional parking facilities
to serve the Convention Center should begin as soon as the Doyle
i Rogers' Office Building is under construction. Ground breaking is
expected during the second one -half of 1983. Construction will take
approximately two (2) years. Therefore, this additional parking
structure should be either complete or substantially complete by
late 1985.
The developer selection process outlined in the RFP provides a way
of obtaining a new parking structure and generating additional de-
velopment activity as well. The prospectus will outline the steps
leading to parking deck construction and how to coordinate it with
additional development along East Markham Street.
Since the parking deck will take less time to complete than the
office building, the City should anticipate ground breaking within
twelve (12) to fifteen (15) months after construction of the
Doyle Rogers' Office Building begins. This timetable can be
r adhered to within the perameters established for the preferred
developer selection process. Early authorization by the Board of
Directors to proceed with the RFP, however, is essential if we are
to adhere to this schedule.
VI. CITY /COUNTY COORDINATION
Major development is envisioned between the ramps of the Main Street
Bridge, property owned by both the City and County. Close cooperation
between both branches of government, therefore, becomes essential.
County Judge Don Venhaus understands and supports the proposed approach
and will be a willing participant in the process. An important com-
ponent of the legal study will be to formalize the joint City /County
development effort before solicitation of proposals begins.
VII. NATURE OF'REQUEST
This memorandum is informational in nature. The Board of Directors
should be aware of staff plans to proceed with the consultant
selection process. A contract with the selected firm will be submitted
to the Board for approval in August.
". "M
h
I r''-
M M M
Susan Fleming
Page 4.
June 10, 1983
M M M
•
iibit to Res. #7,020
A five (5) member selection committee, including one (1) representative
from the Board of Directors is proposed. After authorization to pro-
ceed, it will take approximately eight (8) weeks to select the consultant
and consummate the contract. Prospectus preparation will take approxi-
mately three (3) months. Three (3) to four (4) months will be required
for developer response. The City should be able to designate the pre-
ferred developer by Spring 1984. Subsequent steps by the preferred
developer will include finalizing the development plans and schedule,
structuring the business deal and construction.
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