Title
Resolution Rejecting the Letter of Intent and Concluding the Selection Process for RFP #743 for Development of City-Owned Property at 319 S. Fifth Avenue (the "Library Lot")
Body
Whereas, The City of Ann Arbor issued Request for Proposals #743 for development of City-owned property on top of the new parking structure at 319 S. Fifth Avenue in August of 2009;
Whereas, The RFP called for proposals that would include a beneficial use of the site such as a public plaza, provide a positive financial return to the city while demonstrating a clear benefit to the community, and be consistent with recommendations of the Downtown Plan and A2D2 Initiative towards enhancing the downtown;
Whereas, Proposals were submitted and interviews were held in the intervening months, and the proposal for a hotel and conference center by Valiant Partners LLC emerged from the process for further consideration;
Whereas, An RFP Advisory Committee of representatives from the City Council, City Planning Commission, Downtown Development Authority and Parks Commission discussed the proposals and recommended that the Valiant proposal be selected, and the framework for the development be provided in a Letter of Intent;
Whereas, The Mayor and City Council thank Valiant and the other submitters for their responses to the RFP, their participation in the process and interest in working with the City of Ann Arbor; and
Whereas, The Mayor and City Council thank the Library Lot RFP Review Advisory Committee for their participation in the review process;
RESOLVED, That after serious consideration over many months City Council questions the viability of the Valiant proposal for a hotel and conference center, and more importantly, the level of risk that the City would encumber particularly in the absence of a full financial and legal analysis, and thus does not agree to the terms of the proposal nor the proposed Letter of Intent;
RESOLVED, That City Council has decided not to select ...
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