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Progress Report to City Council on the Northeast Master Planned Community

Ed Archuleta, General Manager of El Paso Water Utilities, presents a progress report to the City Council on the Northeast Master Planned Community initiative. The report includes an overview of the initiative, goals, major steps, RFQ status, RFQ/bid process, scoring mechanisms, characteristics of qualified teams, and next steps.

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Progress Report to City Council on the Northeast Master Planned Community

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  1. Progress Report to City Council on the Northeast Master Planned Community Presented by Ed Archuleta, P.E., General Manager El Paso Water Utilities June 5, 2007

  2. Today’s Presentation • Overview of EPWU Initiative • Goals • Major Steps • RFQ Status • RFQ/Bid Process • Scoring Mechanisms & Process • Characteristics of Qualified Teams • Six Qualified Teams • Next Steps

  3. RFQ / Bid Process Goals • Initiate a major public/private project to address El Paso and Ft. Bliss growth • Create a significant and steady supply of parcels and lots • Give to El Paso a major new community based on Smart Growth and Sustainability • Obtain local involvement in creating community – in master plan and RFQ

  4. RFQ / Bid Process Goals • Provide long-term infrastructure, amenities and community facilities • Leverage the value of a major parcel to attract high level of private investment • RFQ Screening for Experience and Minimum Qualifications • Sealed BID process to follow to insure best price and development standards • Development requirements and covenants included in sale

  5. Major Steps • 2006 • 1st Qtr – Market Analysis and Ft. Bliss Growth Analysis • 2nd Qtr – Infrastructure and Parcel Analysis • 3rd Qtr – Conceptual Master Plan and Community Input • 4th Qtr – Issuance of RFQ to attract qualified bidders • 2007 • 1st Qtr – Adoption of Amended Northeast Master Plan • 2nd Qtr – Receipt of RFQ Submissions and Interviews • 3rd Qtr – Bid Process/Land Sale • 4th Qtr – Developer Approvals/Site Planning underway • 2008 • 1st-4th Qtr – Phase I Infrastructure underway • 2009 • 1st Qtr – First residential communities underway

  6. Evaluation Committee • Fermin Acosta, Chairman - PSB • Richard Martinez, Vice Chair – PSB • Pat Adauto, Deputy City Manager • Alan Shubert, Acting City Engineer • Ed Archuleta, General Manager – EPWU • Nick Costanzo, Asst. Gen. Mgr – EPWU Technical and Legal Assistance: • Bob Andron, General Counsel • Syd Falk, Bickerstaff Heath Pollan & Caroom, L.L.P. • URS personnel

  7. Scoring of Submissions • Organizational Strength and Capacity • 10 Points • Financial Requirements/Qualifications • 30 Points • Planning & Vision Qualifications • 20 Points • Local Participation and HUB • 10 points each (20 total) • Minimum Qualifying Score • 55 points

  8. RFQ Status • Ten teams submitted • Eight teams interviewed on April 18-19 • Six teams determined as qualified • Two national teams • Four local/regional

  9. Characteristics of Qualified Teams • All teams are land developers – not homebuilders • Every team planning first priority to qualified local homebuilders • All willing to form partnerships, ventures, spec building, and flexible lot purchase terms with local builders and firms • Some national or regional builders for new products – retirement, etc.

  10. Characteristics of Successful Teams • All utilizing regional or national planning staff/firms, but local professionals for services available in El Paso • All indicated it is most cost efficient to buy most of supplies locally • All committed to meet or exceed the minority/disadvantaged HUB goals

  11. Six Teams Qualified • Cousins Properties – Atlanta • E2M/EPT - Dallas and El Paso • Forest City/Covington – Cleveland/ El Paso • Hunt Communities – El Paso • Scarborough Lane Development – Dallas and El Paso • Southwest Land Development – El Paso Presented in alphabetical order

  12. Cousins Properties • Headquartered in Atlanta since 1962 with national development portfolio • Publicly traded REIT - invests $200-$400 million per year in new development • Capabilities in land development, office, retail and mixed use • Willing to sell, advance lots, partner and profit-participate with homebuilders • Developing three master planned communities in Texas now • Locally is an investor in Verde with Bill Sanders

  13. E2M / EPT • E2M, private equity firm in Dallas • EPT Land – El Paso – Richard Aguilar, Dr. David Masel and William Erlich • Holliday Fenoglio Fowler hired to access national capital markets • Anticipates 80% of homes by local homebuilders and 70% HUB compliance • Conde, Megacon and other local firms on team

  14. E2M / EPT • E2M is completing large master planned community in Florida-Hammock Dunes • EPT is completing 1,700 residential units on land purchased from EPWU • Vision – use national marketing, mix of product, Energy Star, retirement potential • Vision includes multiple price points, small neighborhoods, family amenities, and low energy use design.

  15. Forest City / Covington • Forest City is $9 billion NYSE company with development in 25 states • 50/50 with Covington Capital on this project – previously partnered on Paseo Del Estate in El Paso and Mesa del Sol in Albuquerque • National commitment to HUB and minority participation in all projects • Willing to share risks with homebuilders and create builder education programs

  16. Forest City / Covington • In depth experience in public/private partnerships – Gladden Farms in Tucson and Stapleton in Denver • Vision – design guidelines, Energy Star, new urbanism, Stapleton quality • Now perceive El Paso as a growth market and part of their southwest strategy

  17. Hunt Communities • Based in El Paso since 1947, four generations of family, strong financials • Full-service investment, development, management, marketing capabilities • Experienced in funding mechanisms and working with City and EPWU • Committed to solicit primarily from local suppliers and builders • Would be focused on “horizontal development” – with building by others

  18. Hunt Communities • Applying new urbanism/smart growth to El Paso: Cimarron and Paseo del Este • Project management capabilities: over 19,000 units of military related housing • Vision: hike and bike system, large park areas, comprehensive infrastructure • Kimley-Horn designated as designer • original Northeast Master Plan • familiar with site • involved in other Hunt Communities • creates design guidelines

  19. Scarborough Lane Development • Partnership Entity • Scarborough Lane Development of Dallas • Paul Foster, CEO, Western Refining • Teamed with Bohannon Development Corporation • Funding • Paul Foster • Bank of the West • other partners • Many local and minority professional firms on team • Quantum Engineering Consultants • Local builders most important for project • Potential for 1-2 regional players

  20. Scarborough Lane Development • Comprehensive visual presentation • Vision: new town centers, utilization of waterways, connected neighborhoods, themed entry ways, public amenities • Experience: 3,200 acre Travis Ranch near Dallas – 1,200 units in 2+ years • Carter-Burgess designated as designer • Fort Worth • Experienced in master planned communities • Design guidelines • Town center design

  21. Southwest Land Development • Associated with Foster-Schwartz Companies – based in El Paso 40 years • Committed to local homebuilders and to HUB • Fugleberg Koch Architects, Orlando, currently designing Hueco Club Estates • Bohannon Development- development partner • Rocky Mountain Mortgage, Chase Bank and Wells Fargo financial partners

  22. Southwest Land Development • Vision: adapt new urbanism principles of Hueco Club Estates to the site • Extensive experience in El Paso, with EPWU and with non-profits

  23. Summary • Six teams met criteria: • Organizational Strength and Capacity • Financial Requirements/Qualifications • Planning & Vision Qualifications • Local Participation and HUB • Minimum Qualifying Score

  24. Six Teams Qualified • Cousins Properties – Atlanta • E2M/EPT - Dallas and El Paso • Forest City/Covington – Cleveland/ El Paso • Hunt Communities – El Paso • Scarborough Lane Development – Dallas and El Paso • Southwest Land Development – El Paso Presented in alphabetical order

  25. Next Steps

  26. Next Steps • Notification of qualified teams – May 9, 2007 • Finalize appraisals, survey and bid document – May 31, 2007 • PSB sets minimum bid price – June 13 2007 • Request for bids – June 14, 2007 • Receipt of bids – July 31, 2007 • PSB recommends award August 2007 • City Council awards sale of Parcel MPC September 2007

  27. Questions & Comments

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