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Vice Chair Martinez noted if eligible to apply for Title 7 funding and any other light rail funding available through OCTA and the state's Cap & Trade; noted to work with lobbyists, adding the city needs to do whatever it can to help move project along and trying to reduce greenhouse gas emission. Mr. Cavazos noted staff will provide a memo for the Council at the next meeting on the plans for financing. 3. UPDATE ON YMCA EXCLUSIVE NEGOTIATING AGREEMENT {Strategic Plan No. 3, 5A} David Cavazos noted there is no update on Item 3. Chairman Sarmiento returned at 5:14 p.m. 4. THIRD & BROADWAY UPDATE — DEVELOPER SELECTION PANEL RESULTS AND NEXT STEPS (Strategic Plan No. 3, 5A) Kelly Reenders provided an update on the Third & Broadway development project noting in response to the Request for Qualifications (RFQ), six firms had interest and four firms interviewed on February 6. She introduced the highest rated firm OliverMcMillan and invited Dan Nishikawa, Senior Managing Director, and Zach Adams, Senior Project Manager, to provide an overview of their firm and answer any questions. Dan Nishikawa provided background information on their firm headquartered in San Diego, noted they have two lines of business one being large mixed -use projects and the other urban residential infill, and briefly discussed projects they are working on and those completed. He noted they have received more than 40 design awards, has financial partners and has also done adaptive reuse projects; noted one process for projects is to conduct a Charrette and bring all the stakeholders, city officials, community members, land owners, designers and architects together. Zach Adams discussed the project concept for 3rd & Broadway noting a podium project similar to EV project in downtown San Diego and SALT project in Tempe, Arizona which fits in with the urban street with retail on the ground level and residential above. Mr. Cavazos noted the city expects at least two levels of below grade public parking and anything built below grade will be for the project with no parking requirement; and noted the project can go as high as the Ronald Reagan Federal Courthouse. He noted that 011verMeMillan was rated the highest based on their experience, track record, and urban focus, and requested the committee's input to enter into an exclusive negotiation agreement to continue discussions. Committee member Benavides noted this parcel is one of the last significant parcels the city owns and is located in the core center of activity, the revitalization of the city and wants to see some type of legacy signature project there, noted the downtown is increasing as a destination and anticipate more so on the hospitality and looking at a hotel component in the area. Development & Transp. Council Committee Minutes 2 April 2, 2015 13A -8