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<br />April 24, 2019, Meeting – Item 1 <br />The team has had preliminary conversations with staff about the potential role the Steam Plant could play during the 2021 World Track and Field Championships. Their proposal presents an idea of phasing the redevelopment in order to create a pavilion that would be available for use during the event. Staff will be asking City Council for direction on 2021 activities at a future work session. <br />Advisory Committee On April 8, the River Guides evaluated the team’s proposal based on the approved criteria. They unanimously recommended negotiating deal points with the development team. More information about their discussion will be provided at the April 24 work session. <br />Next Steps If the Agency Board provides direction to enter into exclusive negotiations, staff would work with the development team to generate deal points for the disposition and redevelopment process. Staff would bring these deal points to the River Guides for a recommendation and then bring them to the Agency Board for action before summer break. <br />PREVIOUS AGENCY BOARD DIRECTION March 14, 2018 Executive session followed by work session: Agency Board directed staff to draft a process and criteria for the disposition and redevelopment of the Steam Plant <br /> April 23, 2018 Work session: Agency Board approved criteria and process for disposition of the Steam Plant <br />AGENCY BOARD OPTIONS 1. Direct the Agency Director to a) enter into an exclusive negotiation period with the Miksis/Frohnmayer development team for disposition and redevelopment of the Steam Plant and b) return to the Agency Board with the terms of the sale and development for approval. 2. Direct the Agency Director to facilitate an additional process with the Miksis/Frohnmayer development team before providing direction on negotiations. 3. Do not move forward with this development team and direct the Agency Director to pursue an alternative path for redevelopment of the Steam Plant. <br />AGENCY DIRECTOR’S RECOMMENDATION The Agency Director recommends option 1. <br /> <br /> <br />SUGGESTED MOTION Move to direct Agency Director to a) enter into exclusive negotiations with the Miksis/Frohnmayer development team for the disposition and redevelopment of the Steam Plant and b) return to the Agency Board with the proposed terms for approval.