Council approved a scoring criteria for the Request for Proposals phase of the Pier 8 land sale and development.
Council approved a two envelope scoring criteria, with 60% of the overall score from the first envelope containing the development plan (30%), project implementation (15%), and urban innovation (15%), and the remaining 40% scored on the financing proposal in the second envelope.
Proponents will need to gain a minimum score in the first envelope for the City consider the financing proposal.
Requests For Qualifications to participate in the process closed at 4:30pm today.
Staff who created the formula says it will ensure community feedback requesting a priority on the design and community benefits of the proposals is given more weight than just the financial offer to the City.
The Request for Proposals will be issued in the coming weeks.