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HRA Work Session <br />Meeting Date: <br />By: <br />11/15/2011 <br />Darren Lazan, Housing & <br />Redevelopment Authority <br />Title: <br />Introduction of and Discussion with W30 Retail Developer <br />5. 1. <br />Background: <br />Over the last year, the develoment team has been working with a number of large retail developers toward an <br />agreement to develop the large retail component of the project. For a variety of reasons, it is adventagous to the <br />HRA to partner with a developer to work under the HRA (master developer) on the retail development known as <br />the West 30. This partnership would allow a developer to share in the marketing of that portion of the project, and <br />take the lead on efforts to land potential tenants that would require the construction of the building, a role the HRA <br />would likely not want to undertake. <br />Through this process, we have met with nearly every local, and numerous national developers capable of managing <br />a project of this size. While there has been interest in continuing discussions, only one developer has moved <br />to prepare an offer for consideration by the HRA. <br />Lance Osborne, Founder and President of Osborne Capital Group of Ohio, will be in town to continue the <br />discussions with the development team towards finalizing a purchase agreement on the project. The development <br />team would like the HRA to meet Mr. Osborne, discuss his ideas about the project and his potential involvement, <br />and gain a greater understanding of the approach to development we have contemplated to date. <br />The development team has visited their offices and projects in Ohio as part of their review and consideration of the <br />offer, and can provide feedback from that effort. <br />Recommendation: <br />The development team reccomends the HRA provide input to the proposed development approach and feedback <br />from discussions with Mr. Osborne. <br />Funding Source: <br />N/A <br />Council Action: <br />None <br />Form Review <br />Inbox Reviewed By Date <br />Heidi Nelson Heidi Nelson 11/10/2011 01:16 PM <br />Form Started By: Darren Lazan Started On: 11/10/2011 11:35 AM <br />Final Approval Date: 11/10/2011 <br />