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Developer Selection for Infill Development <br />October 1, 2007 <br />1Page 2 <br />• Interviews were held to assess the strategies for the development of <br />these sites and review financials to determine financial capacity to <br />undertake this project. <br />• Lastly, a project specific budget was requested from the top two <br />development teams. Only The Olson Company submitted a budget. <br />Based on the Request for Qualifications process, staff is recommending <br />that we begin negotiations with The Olson Company. The Olson Company <br />brings to this project the experience and capacity necessary to <br />successfully develop, market and sell these homes. <br />We are proposing to enter into negotiations with The Olson Company for a <br />six -month period, during which time specific site plans will be developed <br />and the terms of a Disposition and Development Agreement will be <br />negotiated. This action does not commit the Agency to any specific <br />project nor does it exclude any future discussions with other developers <br />should agreement with The Olson Company not be reached. <br />ENVIRONMENTAL COMPLIANCE <br />Developer negotiations and preparation of a conceptual development plan <br />do not constitute a project under CEQA guidelines. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />&4� <br />elly L dry-Bayle / <br />Housing anager <br />Community Development Agency <br />SGH /SLB /mfr <br />H: \ACTION ITEMS \CRA \2007 CRA \Dev Selection -Olson 10- 1- 07.doc <br />5 -4 <br />