Quote:
Originally Posted by AusTxDevelopment
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Council website is probably a better source.
https://www.austintexas.gov/edims/do....cfm?id=353962
https://www.austintexas.gov/departme...210127-reg.htm
I'm particularly concerned with
"Based on current trends and projections, reduce the amount of office space as much as
financially feasible. "
Aspen responded to the RFP with a mixed use office tower, and Tovo wants to minimize it.
Also " If in the course of
negotiations Aspen Heights articulates substantial concerns about any of the below community
benefits, the City Manager shall return to Council prepared to share that information and to seek
further direction from Council. "
Which given that Aspen will likely have concerns about most of Tovo's wish list, may mean the city manager has to return to council every week.
and " include a provision that
allows for profit-sharing for the City beyond a certain internal rate of return once costs
are covered. "
So Aspen has to cover the downside and risk, and all the upside profits go to the city.