Agreement provides an period of exclusive rights for development. Preliminary concept program with focus on uses, density and required public improvements. Preliminary financial and market feasibility. Selection of developer to proceed into preliminary development agreement. Pre-Development Agreement 1.
Developer refines plans and financing for development.
Developer assesses market feasability. Staff assesses match with redevelopment program. Identify issues to be addressed in final development agreement including assistance required, development schedule, values, improvements, financing and property acquisition. Develop formal proposal for redevelopment. Test market reaction.