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OCT 06 '95 12 :S2PM EHLERS & ASSOCIATES P.4 /5 <br />City of Little Canada <br />October 6, 1995 <br />Development Development (SF) <br />Center Place - Lot 1 13,200 <br />Center Place - Lot 2 <br />Kandice Heights 1 <br />Kandice Heights 2 <br />Developer RPJ,' <br />Page 3 <br />EMV Tax Capacity <br />$427,100 $19,647 <br />14,390 $385,000 $17,710 <br />32,400 $1,017,200 $46,792 <br />14,200 $589,700 $27,127 <br />Under these parameters, the development likely to occur on this site will require land sale <br />revenue in the $1.50 to $4.00 per square foot range. With this approach, little or no tax <br />inuckuent revenues would be available for other project costs or area improvements. <br />Criteria <br />Before beginning the RFP process, the City must define its criteria for an acceptable <br />development proposaL These criteria will come primarily from the Development Guide. <br />The table below contains some potential criteria. <br />Development Criteria <br />Comments <br />Type of Development <br />The Development Guide indicates a mix of <br />retail and office. <br />Orientation <br />The building should be oriented to the <br />street with parking on the interior. <br />Building Design <br />The project must conform with the design <br />guidelines that will be established by the <br />City. <br />The Guide promotes a two -story building. <br />This also increases the new value created on <br />the site. <br />Ability to Propose Larger Scale <br />The RFP should allow the developer to <br />propose solely on the site controlled by the <br />City or to include other adjacent parcels. <br />PAGE 34 <br />