City Council

7.\nRECOMMENDATION OF PROPOSALS TO PROCEED TO A FINAL\nROUND OF NEGOTIATIONS FOR THE COMPETITIVE OFFERING FOR\n150 E. FIRST STREET Two (2) proposals are recommended for City\nCouncil consideration to proceed to a final round of negotiations for the\ncompetitive offering for 150 E. First Street within Development Area 2 of\nthe Downtown Commercial Core Specific Plan.\nRecommendation: It is recommended that the City Council take the\nfollowing actions: 1. Authorize staff and the City's broker Professional Real\nEstate Services Inc. to inform two (2) proposers from the competitive\noffering for 150 E. First Street that they will be proceeding to a final round;\nand 2. Authorize staff to further reduce the number of proposals that will\nultimately be recommended to the City Council for consideration at a later\ndate. Fiscal Impact: There is no fiscal impact associated with this item.