Title
Consider/Discuss Presentations from Respondents to Request for Qualifications Number 23-38RFQ Seeking a Partnership with a Development Team to Redevelop City-Owned Properties Downtown
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1E: Increase community involvement and participation within local government/community)
MEETING DATE: November 28, 2023
DEPARTMENT: Development Services
CONTACT: Michael Quint, Executive Director of Development Services
RECOMMENDED CITY COUNCIL ACTION:
• Receive presentations from the top three respondents to Request for Qualifications (RFQ) no. 23-38RFQ.
ITEM SUMMARY:
• As part of the “Partner Selection” portion of the ongoing process to redevelop four (4) city-owned properties in historic downtown McKinney, the top three (3) respondents (“development teams”) to the City’s RFQ will make a presentation addressing:
o The members of the development team that will actually be working on this project including their experience and qualifications;
o The reasons that the development team is best suited to partner with the city on this redevelopment opportunity;
o The development team’s preliminary development concept for the properties which they hope to develop; and
o Any additional information that sets their team apart from other development teams.
• On June 18, 2023, the City issued a RFQ for the redevelopment of approximately 4.75 acres of city-owned land located on and around the property located at 222 N. Tennessee Street. The submittal window closed on August 17, 2023, and 15 very strong responses were received from development teams hailing from across the country.
• Since that time, the 15 responses have been reviewed and narrowed down to a top five (5) using the evaluation criteria published in the RFQ. Those top (5) development teams were interviewed and narrowed down to a top three (3) development teams using the evaluation criteria published in the RFQ. These top three (3) development teams include, in alphabetical and presentation order:
o Hines Interest LP. from Dallas, TX
o M2G Ventures, LLC. from Ft. Worth, TX
o Nack Development, LLC., from Frisco, TX
• The November 28, 2023, event will include:
o City Council Work Session meeting
§ A brief staff presentation;
§ 30-minute presentation from each of the three (3) development teams;
§ 15-minutes for City Council questions after each presentation; and
o 1-hour for the public to engage in discussion with the development teams.
• The public is encouraged to share their feedback regarding the development teams and their preliminary development proposals via an online survey at:
o <https://forms.gle/JgBdq3RVj3PsvJbw5>
o QR Code:
• Only survey results received before 8:00 am (CT) on November 29, 2023, will be accepted and shared with the City Council.
• It is important to note that the development teams have not been coached or provided any additional information regarding the City’s expectations of any proposed redevelopment beyond what’s publicly available. As such, any preliminary development proposals that are presented or discussed at the November 28, 2023, event should be considered highly conceptual in nature. It is expected and understood that the preliminary development proposals, including any architectural designs or renderings, will likely change as development agreement negotiations progress and feedback and direction is provided by city staff, City Council, and the public.
BACKGROUND INFORMATION:
• A Request for Qualifications (RFQ) is a process through which the City informs members of the development community of a partnership opportunity aimed at redeveloping the properties in question. Interested development teams are permitted to formally respond to the RFQ expressing their interest in partnering with the city. The responding development teams will be interviewed, and a partner(s) will ultimately be selected by the City Council. After that selection, formal partnership negotiations will commence and will conclude with the City Council’s approval of an agreement which will stipulate the terms of the partnership and the development of the properties.
• Additional information regarding this downtown redevelopment initiative may be found on the City of McKinney’s website at: www.mckinneytexas.org/cityproperty <http://www.mckinneytexas.org/cityproperty>.
FINANCIAL SUMMARY:
• N/A
BOARD OR COMMISSION RECOMMENDATION:
• N/A