The Urban Renewal Agency of the City of Pocatello, Idaho, also known as Pocatello Development Authority (“PDA”) is seeking responses from a qualified developer or development team (the “Developer”) to provide redevelopment proposals to revitalize the Monarch Building located at 244 W. Center St. in Historic Downtown Pocatello, Idaho. The goal of this RFP is to strengthen the economic core of Downtown Pocatello by encouraging the redevelopment of this historic infill property. PDA seeks developers that will rehabilitate the building, but will also accept proposals that contemplate demolition and a new structure that retains the historic tone of the replaced structure. Envisioned is a mixed-use development that will activate the ground floor and provide housing options for Downtown Pocatello residents. While not currently in an urban renewal district the PDA is seeking a partner to establish a new district in the downtown with this property as a catalytic project to initiate the district. As part of this project the PDA intends to transfer ownership to the developer at a to be negotiated price, but in no case less than the fair value for uses as determined by a fair reuse appraisal. PDA will negotiate an agreement to negotiate exclusively with the selected developer to guide discussions leading to the preparation of a disposition and development agreement
