The process for moving ahead with Trinity Site

The first step taken with this project was to prepare an economic feasibility study to determine whether the project could be completed, the estimated expenses and the projected income. This study, called the Trinity site Redevelopment Financial Analysis, was done by EPS (Economic and Planning Systems). In order to estimate possible revenue for a development, a hypothetical project that contains the basic types of retail establishments wanted in the development is created using the amount of acreage available to be developed and the allocation of the area to general retail categories. The consultants used a variety of formulas to create hypothetical stores at a certain square footage to use for analysis purposes. They then use these numbers to project lease and possible GRT income. These numbers are often given as examples when describing the project.



While the EPS study was being conducted, the County put out a Request for Qualifications, or RFQ, that indicated that interested parties could apply to be selected for the next step, the Request for Proposal or RFP which is an in-depth development proposal containing financial offers and site plans. Five companies replied to the RFQ process and one, the Boyer Company, was chosen to be able to submit a RFP. (They will be discussed in the section on the Boyer Company.)

At this point in time, the only binding decision made on this project has been to approve a preliminary Joint Powers Agreement between Schools and County and concurrence to move forward with a developer to submit their RFP to the County, Council and Schools on July 18. This RFP will contain the site plan and precise financial information that will then be carefully assessed and made public. There will be multiple opportunities for the community to give input to Boyer through open houses, surveys and other methods. If the financial offer is beneficial for the schools and county, Boyer’s negotiations with staff will result in a Development Agreement that will be voted on in late November by the School Board and County Council. Only if all parties agree to proceed will the project start.

IMPORTANT DATES (subject to modification):
• End of July/06-Proposal submitted from Boyer to Schools/County Council
• 7/06-12/06-Boyer conducts public meetings and design discussions with community
• Fall/06-Proposal review and negotiate Development and Lease Agreement (Boyer)
• Fall/06-Schematic Design for Maintenance Facilities presented to Schools/County Council
• Fall-Winter/06-Schools/ County Council consider Development and Lease Agreement (Boyer)
• Winter/07-Final Design presented for Maintenance Facilities to Schools/County Council
• Winter/07-Bid out Schools/County Maintenance Facilities for construction
• Spring/07-Schools/County consider award of construction of Maintenance Facilities
• Spring/07-Fall/08-Construction of Maintenance Facilities
• Late Fall/08-Late Fall/09-Boyer commences construction of Lifestyle Center on Trinity Site
• Winter/09-Grand Opening of Trinity Site Revitalization Project now a Lifestyle Center mixed use development.