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Attachment E <br />Option 1 Timeline: Select KWG Development Partners <br />URA Selects KWG <br />th <br />April 25 <br />Renew Options on #11, #12, & #15 <br />Public <br />($90,000, applied to purchase price) <br />th <br />Participation: <br />April 26 <br />ongoing <br />Renew Option #4 ($10,000) <br />through project <br />nd <br />May 22 <br />planning <br />Define Financing Strategy <br />May <br />May 2007 to <br />October 2008 <br />Amend Downtown Urban Renewal Plan <br />Section 108/BEDI <br />(130 days) Start in May <br />CC/URA Initial OK Public Hearing <br />MayMay <br />Public Hearing Resolution <br />th <br />JulyBy June 15 <br />URA gives OK to CC <br />HUD Approval (75 days) <br />July <br />By September <br />CC Ordinance <br />September <br />URA Final Project Approval & CC Budget Authority <br />September <br />Renew Option on #10 ($2,000) <br />Renew Option on #8 ($4,000 & price increase $70,000) <br />th <br />BySeptember 15 <br />Renew Option on #5 & #7 ($4,000 & price increase $100,000) <br />th <br />By September 19 <br />Sign Purchase and Sale Agreement & Finalize Section 108/BEDI Funds <br />September <br />Purchase #6 ($625,000) <br />th <br />By September 25 <br />Project Planning <br />October 2007 ? October 2008 <br />Purchase #9 ($2.2M) <br />By October 19, 2007 <br />Purchase #11 ($2.8M), #12 ($1.9M), & #15 ($3.15M) <br />By October 26, 2007 <br />Purchase #4 ($1.98M) <br />By November 22, 2007 <br />Purchase #8 ($900,000) <br />By March 15, 2008 <br />Purchase # 10 ($1.2M) <br />By September 15, 2008 <br />Purchase #5 & #7 ($1.55M) <br />By September 19, 2008 <br />Purchase Remaining Necessary Property (not currently under option) <br />By September 2008 <br />Permitting <br />October 2008 to January 2009 <br />Construction <br />January 2009 ? January 2010 <br />Urban Renewal Revenues start <br />FY11 <br />