HomeMy WebLinkAboutItem #09 Ocoee Crown Point PUD Request for Letters of Intent Developer Recommendation000(
rlorida
AGENDA ITEM COVER SHEET
Meeting Date: November 19, 2013
Item # 9'
Contact Name: Mike Rumer
Contact Number: (407) 905 - 3100 x 1018
Reviewed By
Department Director:
City Manager: ...
Subject: Ocoee Crown Point PUD
Request for Letters of Intent
Develooer Recommendation
ISSUE:
Should the Honorable Mayor and City Commissioners approve the City Manager's top three ranked LOI
respondents to proceed for further discussions with the City for the development of three tracts of land totaling 98
acres within the Ocoee Crown Point PUD?
BACKGROUND:
The Mayor and City Commissioners authorized the City Attorney to advertise a request for Letter of Intent (LOI)
for sale of residential land within the Ocoee Crown Point PUD. This LOI identified eight (8) criteria the Letter of
Intent should provide, leaving the purchase price and closing date for the respondents to provide as their own
response (see evaluation table). This ensured that all respondents had an equal opportunity to respond with their
best terms on the project.
Six (6) developers responded to the LOI request. Based upon a detailed review of each respondent's LOI
proposal, the City Manager with the aid of other designated staff, short listed the respondents to three for
consideration to continue on for further discussions with an ultimate selection for contract negotiations. The City
Manager has chosen Taylor Morrison, Front Door Communities, and Meritage Homes as a recommendation for
further negotiations.
DISCUSSION
Six (6) developers responded to the LOI packet. Proposals were received by September 30, 2013, at 2:00 PM
by the City Purchasing Agent. The proposed purchase prices for the six respondents are as follows:
Developer
Purchase Price
Taylor Morrison
$10,750,000
Front Door Communities
$10,200,000
Meritage Homes
$ 9,800,000
Surrey Homes
$ 9,270,000
Elevation Development
$ 9,200,000
Beazer Homes
$ 8,750,000
City Commission Meeting Date: November 19, 2013
Project: Ocoee Crovvn Point PUD Lfli
Variations to the seven remaining criteria were taken into consideration with the understanding that further
negotiations are expected prior to a formal presentation. All three top ranked respondents are scheduled for
interviews in the City Manager's office for Wednesday, November 20, 2013. If the Mayor and City Commission
choose to expand the list beyond the City Manager's recommendation, staff will include them in further
discussions.
After staff has interviewed the three (or more) respondents, staff will set up presentations before the City
Commission for the top three (or more) recommended respondents at the first commission meeting in December
or shortly thereafter at a special meeting.
RECOMMENDATIONS:
Based upon the ranking of the top three LOI respondents for consideration by the Mayor and City
Commissioners, the City Manager recommends selection of Taylor Morrison, Front Door Communities, and
Meritage Homes as the three respondents for further discussions with the City.
Attachments
Letter of Interest Evaluation Table
Financial Impact: None
None
Type of Item: (please mark with an x')
X Public Hearing
For Clerk's Dept Use:
Ordinance First Reading
Consent Agenda
X Ordinance Second Reading
Public Hearing
Resolution
Regular Agenda
Commission Approval
Discussion & Direction
Original Document/Contract Attached for Execution by City Clerk
Original Document/Contract Held by Department for Execution
Reviewed by City Attorney
Reviewed by Finance Dept.
Reviewed by Q
N/A
N/A
N/A
2
o
o7�
o
cs
j
N U
— , , j
S], = i), N
U Q U
Ei O
'
M O
C3
ai
O
ct .O
M
O
O
C3
O
ai " O d
_�
ai U ai
c�
(s al
M
UA
��
° O
�
O
N C6�
RS a
• O
71
o �
A ,o
U � �
N
oo
N
N
O
O
C1
DD
69
6f3
6F3
69
6f3
64
U
�
O
fs,
�
O
.T
O
by
O
U
U