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5.2 Contract Negotiations and Approv.~l Process <br /> <br />Upon selection ora Developer by the City, contract negotiations will begin. The City and the <br />Selected Developer shall negotiate and work towards agreement on an Exclusive Negotiation <br />Agreement and mutually work toward reaching final agreement on a Development Agreement. <br />The City and Selected Developer will also negotiate a Purchase and Sale Agreement for each <br />parcel within the Project Area that the De,)eloper will acquire from the City as a result of the <br />Developers inability to acquire the property. <br /> <br />The City, in its sole and absolute discretion, may at any time, cease negotiations and may reject <br />any contract terms and conditions deemed not to be in the best interest of the City. Should <br />negotiations with the selected Developer be unsuccessful, the City may begin negotiations with <br />another Developer that has completed the 3-step evaluation process. <br /> <br />The Development Agreement and Purchase and Sale Agreement shall include a Master Land Use <br />Plan for the Project prepared by the selected Developer and approved by the City; the selected <br />developer shall be responsible for, and incur all expenses related to the preparation of the Master <br />Land Use Plan. <br /> <br />5.3 Procurement Schedule <br /> <br />The tentative schedule for the RFP procurement process is as follows: <br /> <br />City Council Action to Issue RFP <br />Request for Proposal Issued <br />Pre-Proposal Meetings <br />Developer Questions due <br />RFP Clarifications Issued <br />Proposals due <br />Developer Selected <br /> <br />March 28, 2006 <br />March 31, 2006 <br />Week of April 17, 2006 <br /> <br />April 21, 2006 by l:00pm, CST <br />April 26, 2006 <br />May 5, 2006 by 5pm CST <br />June, 2006 <br /> <br /> <br />