The City is seeking to enter into a public-private partnership to redevelop four (4) under-utilized City-owned land assets (each, a “Real Property”, and collectively, the “Portfolio”) by a qualified person(s) or firm(s) who meet the qualifications described herein (each, an “Offeror”). At its sole discretion, the City may select one Offeror to redevelop the Portfolio, or may select one or more Offers to redevelop the Properties individually. In each case, the City and the Offeror will enter into a ground lease and real estate development contract for the design, financing, construction and operation of an affordable housing rental project(s) on each Real Property. At its sole discretion, the City and the Offeror may also negotiate a predevelopment contract.
