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<br />.' <br /> <br />l. <br />2. <br />3. <br /> <br />Land use/density considerations; <br />Phasing of the project; and <br />Project Financing and the financial capabilities <br />of the developers. <br /> <br />In addition, Mr. Botti stated that it would be appropriate <br />for the developer and Agency to consider developing the site <br />in one phase. This would avoid the phasing problem of the <br />garage and on-site storage during the construction of a <br />Phase II tower and the disruptions that would occur to the <br />occupants of the Phase I building. With respect to land use <br />and density considerations, it was their opinion that The <br />Campeau proposal was slightly superior to the other <br />proposals in that: <br /> <br />. <br /> <br />1. <br /> <br />Their Phase I commitment is within 13,000 square <br />feet of the largest commitment (Essex), and is <br />approximately 50% larger than IDM. They also are <br />(1) providing excess parking in Phase I, which <br />provides a slight inducement to proceed with Phase <br />II, and (2) their plan allows for a Phase II <br />development of a possible additional 90,000 square <br />feet. <br /> <br />2. <br /> <br />Their parking ratio in excess of 3.0 spaces per <br />1,000 square feet of gross floor area is closer to <br />the estimated actual demand. <br /> <br />3. <br /> <br />Their proposal calls for the development of Fourth <br />Street retail, which is desirable for the <br />development of the A-2 site. <br /> <br />Mr. Botti stated that in terms of phasing, the Essex <br />proposal was superior in that it will be built as one phase, <br />although Phase I for both IDM and Campeau fulfills the <br />Agency's stated minimum of 160,000 square feet for the site. <br />The IDM proposal consists of two equal towers of <br />approximately 200,000 square feet. Their proposal requires <br />that all the parking for the second office tower be <br />contained in a five story subterranean parking garage, which <br />is not economically feasible. <br /> <br />The last major concern - financial and capabilitites of the <br />developers, the Agency is faced with somewhat a unique <br />problem in that they have already assembled the site. The <br />real issue is which of the developers can now move ahead. <br /> <br />. <br /> <br />Mr. Botti stated that the difficulties of raising the <br />necessary funds in this period of economic uncertainty <br />require that the selected developer have both the necessary <br />financial resources and proven experience. <br /> <br />-3- <br />