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i <br /> covenants of the BEIP. <br /> ❖ The developer must demonstrate the experience necessary to organize and deliver a high <br /> quality project of this type and scale. <br /> ❖ The developer is expected to provide private capital to fund %100 of the value of this <br /> project. The purchase price of the property is $166,768, which would be due within 30 <br /> days of award unless otherwise permitted by the City <br /> ❖ The developer will provide a non-refundable cash deposit of$10,000 upon award. <br /> VI. CITY OF HUGO COMMITMENTS <br /> ❖ The City of Hugo developed the industrial park using Tax Increment Financing, which is <br /> reflected in the below market price of the land. Additional gap financing will not be <br /> available on the site. <br /> VII. PROPOSAL CONTENTS <br /> All submitted proposals should include: <br /> A. A narrative outlining the project approach <br /> B. A detailed concept proposal with estimated construction time frames outlined <br /> D. Background summary of related development experience, financing capacity and <br /> references from at least three communities where you have completed similar <br /> developments <br /> E. Detail of unique characteristics and design elements that will be incorporated into the <br /> project <br /> VIII. SELECTION <br /> Evaluation of Proposals <br /> Proposals will be evaluated,based on the criteria listed below, to ascertain which proposal best <br /> meets the needs of the City. <br /> 1. Responsiveness of the proposer in clearly stating the understanding of the work <br /> to be performed. <br /> 2. Technical experience of the firm. <br /> 3. Experience and professional activities of the project team. <br />