City looks to four companies for downtown arena proposals
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The municipality is looking for a long-time dance partner on its new downtown arena.
The Regional Municipality of Wood Buffalo released a request for proposals today from a shortlist of four consortiums it think can finance and operate the new Sports and Entertainment Centre for the next 40 years. The arena, attached retail and ancillary development forms a centrepiece of the City Centre redevelopment plan.
The RFP asks hopeful builders to assess market demand for the program and prove how they would fund and build the proposed 7,000 seat stadium.
"(It's) about how you would accommodate that program on the site and also about how you would operate that over time to make it sustainable," said Ron Taylor, director of the City Centre redevelopment plan.
The process of selecting one of the four bidders is scheduled to be completed by the spring. In April 2011, interest was solicited from potential developers.
The proponents include the Clearwater Consortium, Forum Equity Partners, Inc., International Coliseums Company & WAM Development Group and Integrated Team Solutions. All are composed of everything from construction companies to facilities operators to architects.
"We were looking at their track record, their experience and their financial capability to take on a project of this nature," Taylor said. "On each of the teams, you've got, for example, one of the large construction companies, and each of those construction companies have their own track record."
The proposals will award 100 points to each presentation weighted among the quality of the team itself, quality of their design and construction approach, quality of the development around the arena and their financing plan.
The winning company will be more than a developer; it will lease the arena from the city for at least 40 years and have the option to lease or buy surrounding areas. The city has said it won't underwrite financial losses for the facility or take on any risk from the arena.
"The intention here is to transfer as much risk as we can from the public sector to the private sector," Taylor said. "So we're looking to the proponents, in their submission, to demonstrate to us how they can maximize the revenue from the project to minimize the amount of contribution that the municipality has to make."
The shortlisted companies will seek ideas and comment from the community at a public meeting September 12 before presenting their proposals in January.