15 AAC 150.670. Proposals for purchase and redevelopment

(a) The Corporation will, in its discretion, dispose of real property described in 15 AAC 150.600 through the solicitation of proposals for purchase and redevelopment of the real property. The solicitation will conform to the provisions set out in 15 AAC 150.640. The solicitation will contain the following information:

(1) the date of solicitation;

(2) the last date and time on which the Corporation will accept a proposal;

(3) a description of the real property that is to be sold, including the number of square feet;

(4) the location of the real property that is to be sold, including the urban renewal project identification number;

(5) identification of the location where other relevant information concerning the real property may be obtained;

(6) the purchase price of the real property; and

(7) any other information or documentation, including a good-faith deposit, required by the Corporation for the particular proposal.

(b) A proposal submitted to the Corporation pursuant to a solicitation under this section, in addition to any other requirements imposed on that particular proposal, shall contain the following:

(1) the name of the party submitting the proposal;

(2) the total cost of the development, excluding the cost of the land;

(3) the designs and drawings of the proposal; and

(4) any other information or documentation, including a good-faith deposit, required by the Corporation for the particular proposal.

(1) the party submitting the proposal has failed to comply with the solicitation requirements;

(2) the party submitting the proposal qualifies or changes the terms and conditions of the invitation to bid in a manner that is not responsive to the purpose sought by the Corporation in issuing an invitation to bid;

(3) the Corporation receives the proposal after the scheduled closing time;

(4) the proposal is not signed; or

(5) there is a conflict of interest with the person submitting the proposal and a board member or employee of the Corporation.

(d) It is the responsibility of the party submitting the proposal to insure that its proposal is in the proper office of the Corporation before the closing time established for receiving proposals. The Corporation will consider proposals received after the scheduled closing time as late.

(e) The Corporation will select a proposal pursuant to the following criteria:

(1) a willingness and ability to purchase the real property at the appraised purchase price;

(2) the opinion and preference of the joint evaluation committee pursuant to 15 AAC 150.680 and the governing body of the municipality in which the real property is located;

(3) compliance of the proposal with the applicability of the urban renewal plan or program;

(4) the aesthetic appearance and value of the proposal;

(5) the financial ability of the party submitting the proposal to timely undertake and complete the development;

(6) the experience of the party submitting the proposal to timely undertake and complete the development; and

(7) any other criteria that the Corporation may establish in the invitation to bid.

History: Eff. 5/7/93, Register 130

Authority: AS 18.55.100 (a)

AS 18.55.540 (b)

AS 18.55.690

AS 18.56.088

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