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HomeMy WebLinkAboutNotice of Sale of Real Estate - AMLI Wesland Abatement tti 11 4 NOTICE OF SALE OF REAL ESTATE is NM 24 2010 FOR THE PRIVATE REDEVELOPMENT ri1 OF REDEVELOPMENT PARCEL NO. 1A `� _ DOCS IN THE CARMEL CITY CENTER , I�,: Cb Notice is given hereby that The City of Carmel Redevelopment Commission ("CRC")will open and con written offers of purchase and proposals for redevelopment (the "Redevelopment Proposals") of a certain parcel of real estate("Redevelopment Parcel No. 1A")located generally on City Center Drive (126th Street), with a west boundary that is approximately 235 feet west of the west right-of-way of Third Avenue Southwest, as more particularly depicted and/or described on Exhibit F. The offer by CRC of Redevelopment Parcel No. 1A for sale and redevelopment is made on the conditions set forth in this Notice (the "Conditions for Redevelopment"). Required Use: The required use of Redevelopment Parcel No. 1A is for redevelopment as, and construction of, market-rate residential apartment buildings (the "Residential Buildings"). Development Guidelines: The redevelopment of Redevelopment Parcel No. 1A, including, without limitation, the construction of the Residential Buildings,shall be completed in compliance with the Development Guidelines, as applicable. The Residential Buildings shall be constructed in the Georgian Colonial architectural style. CRC Site Work: CRC shall complete the site work described in Exhibit C. CRC Improvements: CRC shall construct the infrastructure and site improvements described in Exhibit C. CRC Work Schedule: CRC shall complete the CRC Site Work and construct the CRC Improvements in compliance with a schedule jointly established by CRC and the successful bidder that coordinates work performed by CRC with work performed by the successful bidder. Parcel Condition: Except for the CRC Site Work and the CRC Improvements, Redevelopment Parcel No. 1A is being offered on an "as-is" basis. Acquisition Date: The sale and purchase of Redevelopment Parcel No. 1A must be closed by September 30, 2000. Completion Date: The redevelopment of Redevelopment Parcel No. 1A, including, without limitation, the construction of the Residential Buildings, must be completed in compliance with a schedule jointly established by CRC and the successful bidder. Minimum Offering Price: The successful bidder must convey to CRC fee simple title to real estate (the "Exchange Real Estate")suitable for satisfying the requirements of the United States Army Corps of Engineers ("USACE"), the Indiana Department of Environmental Management ("IDEM"), and any of the other necessary governmental authorities with respect to the mitigation by CRC of the existing wetlands on Redevelopment Parcel No. 1A and on the real estate adjacent to Redevelopment Parcel No. 1A on the west("Redevelopment Parcel No. 1") in accordance with the mitigation plan and the mitigation schedule approved by CRC,AMLI Residential Properties, L.P.(as the owner of Redevelopment Parcel No. 1), USACE, IDEM,and any other governmental authorities whose approvals are required. Proposal Requirements: Each Redevelopment Proposal must comply with the requirements of this Notice, and each Redevelopment Proposal must include a bid to purchase and redevelop the entirety of Redevelopment Parcel No. 1A. Each bidder must deliver one original and nine (9)copies of the Redevelopment Proposal. CRC has caused to be prepared the exhibits listed below(the"Exhibits"),and CRC will make all of the Exhibits available at the CRC Offices for examination and use by all interested persons. This Notice,together with the Exhibits, constitutes the "Bid Package". Exhibit A Instructions to Bidders Exhibit B Form Redevelopment Proposal Exhibit C CRC Site Work and CRC Improvements Exhibit D Carmel City Center Master Plan Exhibit E Executive Summary to Phase One Environmental Site Assessment Exhibit F Location Maps and Legal Descriptions Requests for information concerning the Bid Package should be directed to:Karl P. Haas,Wallack,Somers& Haas,One Indiana Square,Suite 1500, Indianapolis, Indiana 46204;telephone:317-231-9000;facsimile:317- 231-9900; and e-mail: haas-k @worldnet.att.net. Requests for access to inspect Redevelopment Parcel No. 1A should be directed to: Kate Boyle-Weese, Carmel City Hall, One Civic Square, Carmel, Indiana 46032. Each Redevelopment Proposal must: (a)be submitted on the prescribed form included in the Bid Package;(b) include all of the information requested in the Bid Package; (c)if submitted by a trust(as defined in IND.CODE § 30-4-1-1(a)), identify: (i)each beneficiary of the trust; and (ii)each settlor empowered to revoke or modify the trust; (d)be received in its entirety in the CRC Offices,which are located at the Department of Community Services on the third floor of Carmel City Hall, One Civic Square,Carmel, Indiana, by 5:00 p.m. local time,on March 24,2000;and(e)include a cashier's check or certified check payable to the order of CRC in an amount equal to 5%of the purchase price for Redevelopment Parcel No. 1A set forth in the Redevelopment Proposal (the "Proposal Requirements"). CRC reserves the right to: (a)consider or reject without consideration any Redevelopment Proposals that do not satisfy the Proposal Requirements; (b)reject any or all Redevelopment Proposals;and(c)make an award to the highest and best bidder,as described more particularly in the Bid Package,even if the Redevelopment Proposal submitted by the highest and best bidder does not satisfy all of the Conditions for Redevelopment. In determining the highest and best bidder, CRC shall take into consideration the following: (a) The Exchange Real Estate, as proposed in each Redevelopment Proposal. (b) The cost to CRC of satisfying its obligations with respect to the redevelopment of Redevelopment Parcel No. 1A, as described in each Redevelopment Proposal. (c) The cost, size, character, and quality of the improvements to be constructed by a bidder as part of the redevelopment of Redevelopment Parcel No. 1A, including,without limitation,the degree of compliance with the Development Guidelines and the other Conditions for Redevelopment. (d) The schedule for completion of the Residential Buildings. (e) The general business reputation of the bidder. (f) The experience of the bidder with respect to the development and construction of projects similar to the Residential Buildings (the "Similar Projects"). (g) The record of the bidder with respect to the completion of Similar Projects on schedule,within budget, and in compliance with plans, permits, and laws. I:\2002\I\FULL SET OF OFFERING MATERIALS 032400.DOC 2 24Mar00 (h) The current ability of the bidder to complete the Residential Buildings on schedule, within budget, and in compliance with plans, permits, and laws. (i) The financial resources of the bidder and its principals, including, without limitation, the financial resources available to complete the Residential Buildings. (j) The financial resources of the bidder's equity investors and construction lender, including, without limitation,the financial resources committed and available to fund completion of the Residential Buildings. (k) The proposed density of the apartment units,the square footages of the units,the number of bedrooms in the units,the monthly rental for the units,the parking spaces to be provided per unit, and the amenities to be provided. (I) The development and site plans for the Residential Buildings and other improvements, and the compatibility of such plans with the Carmel City Center Master Plan, the neighboring buildings, and the nearby neighborhoods. (m) Satisfaction by the bidder of the Proposal Requirements; compliance of the bidder with the Conditions for Redevelopment, including,without limitation,the Development Guidelines;and satisfaction by the bidder of any additional requirements of the Bid Package. (n) Any other factors that CRC determines to be important in carrying out and serving: (i) the Conditions for Redevelopment, including,without limitation, implementing the Development Guidelines; (ii) the legal purposes of CRC; and (iii) the interests of The City of Carmel, Indiana, and its residents, from the standpoint of both human and economic welfare. A successful bidder will be required to execute a binding project agreement with CRC,committing the bidder to: (i) satisfying the Conditions for Redevelopment, including, without limitation, implementing the Development Guidelines; and(ii)fulfilling the commitments made by the bidder in its Redevelopment Proposal (the"Project Agreement"). Dated: , 2000 The City of Carmel Redevelopment Commission 1:\2002\I\FULL SET OF OFFERING MATERIALS 032400.DOC 3 24Mar00 EXHIBIT A INSTRUCTIONS TO BIDDERS 1. GENERAL: CRC is offering Redevelopment Parcel No. 1 A for sale. The disposal of Redevelopment Parcel No. 1A will be governed by the procedures stated in the Bid Package, and all Redevelopment Proposals, to qualify for consideration by CRC, must be prepared and submitted in accordance with these procedures, and must utilize the forms provided in the Bid Package. The required use of Redevelopment Parcel No. 1A is for redevelopment as,and construction of,the Residential Buildings. Each Redevelopment Proposal must include a bid to purchase and redevelop the entirety of Redevelopment Parcel No. 1A. The sale and purchase of Redevelopment Parcel No. 1A must be closed by September 30, 2000, and the redevelopment of Redevelopment Parcel No. 1A, including, without limitation, the construction of the Residential Buildings, must be completed in compliance with a schedule jointly established by CRC and the successful bidder. Except for the CRC Site Work and the CRC Improvements, Redevelopment Parcel No. 1A is being offered on an"as-is" basis. Redevelopment Parcel No. 1A is located generally on City Center Drive (126th Street), with a west boundary that is approximately 235 feet west of the west right-of-way of Third Avenue Southwest, as more particularly depicted on the Location Maps set forth in Exhibit F. 2. PROPOSAL FORM: Each Redevelopment Proposal must: (a) be made on the form provided as Exhibit B, including Attachments A-C, to the Bid Package (the"Proposal Form"), which Proposal Form may not be altered in anyway; (b)clearly state the name in which title to Redevelopment Parcel No. 1A will be held if the Redevelopment Proposal is accepted;and(c)include the names and addresses of each person or entity that will hold an interest in: (i) the title to Redevelopment Parcel No. 1A; or (ii) any entity that will hold an interest in the title to Redevelopment Parcel No. 1A. Erasures, corrections or other changes in the Redevelopment Proposal are prohibited. 3. PROPOSAL ATTACHMENTS: Each Redevelopment Proposal should be accompanied by: (a)exhibits, drawings, renderings, and other material that indicates that the proposed redevelopment will contribute to the fulfillment of the objectives of the Carmel City Center Master Plan and serve the interests of The City of Carmel, Indiana, and its residents;and(b)any other pertinent information that the bidder may wish to submit to further illustrate the proposed redevelopment set forth in the Redevelopment Proposal; provided that any such exhibits, drawings, renderings, other material, and other information must be submitted as an attachment to the Proposal Form. 4. BIDDER QUALIFICATIONS: Each bidder shall submit Attachment C, Statement of Bidder's Qualifications,with its Redevelopment Proposal. If a Redevelopment Proposal is made subject to the bidder being successful in obtaining adequate financing,then the bidder must presentevidence to CRC that there is a reasonable assurance that the bidder will be able to obtain such financing. 5. ADDITIONAL MATTERS: Each bidder should specifically address the following items in its Redevelopment Proposal: (a) the experience of the bidder, and of the individuals who will be assigned to this project (collectively, the "Bidder's Team"), with respect to the development and construction of Similar Projects, including,without limitation, the record of the Bidder's Team with respect to the completion of Similar Projects on schedule, within budget, and in compliance with plans, permits, and laws. (b) identification of pertinent projects designed and constructed by the Bidder's Team. (c) identification of the architect, the engineer, and the general contractor or construction manager for this project, including: (i) adequate financial statements with respect to the general contractor or construction manager; (ii)firm resumes with respect to the architect,the engineer,and the general contractor or construction manager;and(iii)the name and position of a contact person for each of the architect, the engineer, and the general contractor or construction manager. (d) evidence of the ability of the Bidder's Team to obtain the necessary financial resources to complete the redevelopment of Redevelopment Parcel No. 1A, including, without limitation, the I:\2002\l\FULL SET OF OFFERING MATERIALS 032400.DOC 4 24Mar00 financial resources available to complete the Residential Buildings. This should include:(i)the names and address of bidder's equity investors and construction lender; and (ii)full financial statements with respect to bidder and its principals. (e) evidence of the financial resources of the bidder's equity investors and construction lender, including,without limitation,the financial resources committed and available to fund completion of the Residential Buildings. This evidence should include: (i)adequate financial statements with respect to bidder's equity investors; (ii) public reporting statements of bidder's construction lender; and (iii)the name and position of the persons who will serve as contact persons for bidder's equity investors and construction lender. (f) the cost, size, character, and quality of the improvements to be constructed by the bidder as part of the redevelopment of Redevelopment Parcel No. 1A, including, without limitation, specific information describing the density of the apartment units,the square footages of the units,the number of bedrooms in the units, the monthly rental for the units,the parking spaces to be provided per unit, and the amenities to be provided. (g) a construction and development budget, a statement of sources and uses of funds, and a construction and development schedule. (h) the degree of compliance with the Development Guidelines and the other Conditions for Redevelopment. (I) the current ability of the bidder to complete the Residential Buildings on schedule, within budget, and in compliance with plans, permits, and laws. (j) the cost to CRC of satisfying its obligations with respect to the redevelopment of Redevelopment Parcel No.1A, as described in each Redevelopment Proposal. 6. DEPOSIT: Each Redevelopment Proposal must be accompanied by a deposit: (a) in the form of a cashier's check or a certified check, in either case payable to the order of CRC and drawn on a solvent bank; and (b) in an amount equal to 5% of the purchase price for Redevelopment Parcel No. 1A set forth in the Redevelopment Proposal ("the Deposit"). No Redevelopment Proposal will be considered unless it is accompanied by the Deposit. The Deposit shall be given as security that the bidder, if notified that its Redevelopment Proposal has been accepted, and within 20 days after such notification, shall execute a binding Project Agreement with CRC,which Project Agreement shall: (a)commit the bidder to: (i) satisfy the Conditions for Redevelopment, including,without limitation,implementing the Development Guidelines;and(ii) fulfill the commitments made by the bidder in its Redevelopment Proposal;and(b)provide for the return of the Deposit upon the closing of the sale and acquisition of Redevelopment Parcel No. 1A and the Exchange Real Estate; provided that the Deposit shall be forfeited to CRC, as liquidated damages, if the successful bidder fails to enter into the Project Agreement. Each Deposit made by an unsuccessful bidder shall be returned to the person who signed the Redevelopment Proposal on behalf of such bidder promptly after the successful bidder is selected. Notwithstanding the foregoing, no deposit will be required in connection with a Redevelopment Proposal if the bidder will obtain Redevelopment Parcel No. 1A by exchange of real property. 7. RECEIPT BY CRC: Sealed Redevelopment Proposals will be received by CRC at the CRC Offices until 5:00 p.m., local time, on March 24,2000(the"Receipt Deadline"). Each bidder shall submit one original, and nine complete copies,of its Redevelopment Proposal. All exhibits,drawings,renderings,other material, and other information submitted with the sealed Redevelopment Proposal shall be retained by, and shall become the property of, CRC. Redevelopment Proposals may not be withdrawn after submission to CRC, except as expressly provided in the Proposal Form. 8. EXPLANATIONS: If a bidder finds any discrepancy in, or omission from, or is in doubt as to the meaning of any of the provisions set forth in,the Bid Package or any part thereof,then the bidder shall provide written notice thereof to CRC, at the CRC Offices, at least seven days prior to the Receipt Deadline. CRC shall respond to such written notices by way of a written addendum to the Bid Package, each of which such I:\2002\I\FULL SET OF OFFERING MATERIALS 032400.DOC 5 24Mar00 addenda shall be: (a)on file in the CRC Offices;and(b)mailed to each bidder who obtains a Bid Package. All such addenda shall become part of the Bid Package, and all bidders shall be bound by such addenda. No oral interpretations or oral instructions will be made to any bidder as to the meaning of the Bid Package or any part thereof, and CRC shall not be responsible for any such oral interpretations and/or instructions. 9. REJECTION OR ACCEPTANCE: CRC reserves the right to: (a) consider, or reject without consideration, any Redevelopment Proposals that do not satisfy the requirements set forth in these Instructions to Bidders(the"Proposal Requirements"); (b)reject any or all Redevelopment Proposals; and/or (c)make award to the highest and best bidder,even if the Redevelopment Proposal submitted by the highest and best bidder does not satisfy all of the Conditions for Redevelopment. 10. TRANSFER OF TITLE: Title and possession to Redevelopment Parcel No. 1A will be transferred to the successful bidder in accordance with the provisions of the Project Agreement. 11. CRC ASSISTANCE: CRC shall complete the site work, and construct the infrastructure and site improvements, described in Exhibit C to the Bid Package. Such site work, infrastructure, and site improvements shall be completed in compliance with a schedule jointly established by CRC and the successful bidder that coordinates work performed by CRC with work performed by the successful bidder. 12. HIGHEST AND BEST BIDDER: In determining the highest and best bidder, CRC shall take into consideration the following: (a) the Exchange Real Estate, as proposed in each Redevelopment Proposal; (b)the cost to CRC of satisfying its obligations with respect to the redevelopment of Redevelopment Parcel No.1A,as described in each Redevelopment Proposal;(c)the cost,size,character,and quality of the improvements to be constructed by a bidder as part of the redevelopment of Redevelopment Parcel No. 1 A, including, without limitation, the degree of compliance with the Development Guidelines and the other Conditions for Redevelopment; (d)the schedule for completion of the Residential Buildings; (e)the general business reputation of the bidder; (f) the experience of the bidder with respect to the development and construction of Similar Projects; (g)the record of the bidder with respect to the completion of Similar Projects on schedule, within budget, and in compliance with plans, permits, and laws; (h) the current ability of the bidder to complete the Residential Buildings on schedule, within budget, and in compliance with plans, permits, and laws; (i)the financial resources of the bidder and its principals, including,without limitation, the financial resources available to complete the Residential Buildings; (j)the financial resources of the bidder's equity investors and construction lender, including,without limitation, the financial resources committed and available to fund completion of the Residential Buildings; (k)the proposed density of the apartment units,the square footages of the units,the number of bedrooms in the units,the monthly rental for the units,the parking spaces to be provided per unit, and the amenities to be provided; (I)the development and site plans for the Residential Buildings and other improvements; (m)the compatibility of such plans with the Carmel City Center Master Plan, the neighboring buildings, and the nearby neighborhoods; (n) satisfaction by the bidder of the Proposal Requirements; (o) compliance of the bidder with the Conditions for Redevelopment, including, without limitation,the Development Guidelines; (p)satisfaction by the bidder of any additional requirements of the Bid Package;and (q) any other factors that CRC determines to be important in carrying out and serving:(i) the Conditions for Redevelopment, including, without limitation, implementing the Development Guidelines; (ii)the legal purposes of CRC;and(iii)the interests of The City of Carmel, Indiana,and its residents,from the standpoint of both human and economic welfare. I:\2002\I\FULL SET OF OFFERING MATERIALS 032400.DOC 6 24Mar00 EXHIBIT B PROPOSAL FOR REDEVELOPMENT PROJECT NAME: Private Redevelopment of Redevelopment Parcel No. 1A in the Carmel City Center. REQUIRED USE: The Required Use of Redevelopment Parcel No. 1A is for redevelopment as, and construction of, the Residential Buildings. EXCHANGE REAL ESTATE: Real Property Exchange BIDDER'S DEPOSIT: None Required BIDDER'S NAME: AMLI Residential Properties, L.P. (Corporate Name or Authorized Representative) BIDDER'S ADDRESS: 5875 Castle Creek Parkway N. Dr., Suite 310, Indianapolis, IN 46250 1:\2002\1\FULL SET OF OFFERING MATERIALS 032400.DOC 7 24Ma 00 The undersigned, the Senior Vice President of AML{ Residential Properties Trust, as sole general partner of AMLI Residential Properties, L.P. (the"Bidder") having familiarized itself with the present conditions on Redevelopment Parcel No. 1A,offers to convey to CRC fee simple title to that certain real estate described and/or depicted on Attachment A(the"Development and Exchange Real Estate")in exchange for the transfer by CRC of fee simple title to Redevelopment Parcel No. 1A; provided that if this offer is not accepted within 60 days after its receipt by CRC, then Bidder shall have the right to withdraw this offer. In submitting this offer it is understood that CRC reserves the right to reject this offer. If this offer is accepted,then,within 20 days after notification of such acceptance,Bidder shall execute a binding Project Agreement with CRC, which Project Agreement shall commit Bidder to: (a) satisfy the Conditions for Redevelopment, including,without limitation, implementing the Development Guidelines;and (b)fulfill the commitments made by Bidder in this offer. If this offer is accepted,then: (a)Bidder shall use Redevelopment Parcel No. 1A only for the Required Use; and (b)title to Redevelopment Parcel No. 1A shall be held in the name of AMLI Residential Properties, L.P. or an affiliated limited partnership venture with AMLI Residential as the general partner. Notice of the acceptance or rejection of this offer shall be deemed to be given or delivered if delivery is made in person or by: (a) electronic facsimile transmission to the number set forth below the signature of Bidder,with electronic confirmation of receipt; or(c)certified mail, postage pre-paid, to the address set forth below, with return receipt requested. The undersigned certifies that it is authorized to execute and deliver this offer on behalf of Bidder. Attached hereto and incorporated herein by reference are the following: Attachment A- Legal Description of Redevelopment Parcel 1A and Exchange Real Estate Attachment B - Project Description Attachment C - Statement of Bidder's Qualifications All capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Notice of Sale of Real Estate for the Private Redevelopment of Redevelopment Parcel No. 1A in the Carmel City Center. I:\2002\I\FULL SET OF OFFERING MATERIALS 032400.DOC 8 24Mar00 IN WITNESS WHEREOF, the undersigned has executed this offer on behalf of Bidder as of this 24th day of March , 2000. BIDDER: AMLI RESIDENTIAL PROPERTIES, L.P. By: AMLI Residential Properties Trust, its sole general partner . Printed:James E.Thomas, Jr. Title: Senior Vice President Address: 5875 Castle Creek Parkway, Suite 310 Indianapolis, IN 46250 Telephone No.: (317) 577-5620 x103 Facsimile No.: (317) 577-5633 ACCEPTANCE This offer is accepted this/ day o*/_._ , 2000. THE CITY OF CARMEL REDEVELOPMENT COMMISSION /--------7., , By "Kr' // Printed: % i / /� �`� Title: / 3" -,571' bC% 7.7-- C:\WINDOWS\TEMP\FULL SET OF OFFERING MATERIALS _9_ 23Mar00 (USING V2 OF NOTICE).DOC Attachment A LEGAL DESCRIPTION OF REDEVELOPMENT PARCEL AND EXCHANGE PARCEL Redevelopment Parcel: ±4 Acres* Exchange Parcel: ±.886 Acres* *Legal description and actual acreage to be provided by City of Carmel Redevelopment Commission I:\2002\I\FULL SET OF OFFERING MATERIALS 032400.DOC 24Mar00 Attachment B PROJECT DESCRIPTION 1. Attach a description of the proposed redevelopment, including: (a) the cost, size, character, and quality of the improvements to be constructed as part of the redevelopment: See Presentation Book submitted with proposal for development from AMLI Residential Properties, L.P. dated July 13, 1999 for the private development of Redevelopment Parcel No. 1 in the Carmel City Center("Presentation Book"). (b) the degree of compliance with the Development Guidelines and the other Conditions for Redevelopment; The proposed AMLI at Carmel Center complies fully with the Development Guidelines,as described in the Presentation Book.However,AMLI would propose a more realistic construction schedule than twelve months,based upon our ten-year experience in building similar communities in the Indianapolis area. (c) a detailed site plan and typical building elevations: See Presentation Book. 2. Attach evidence of the ability of Bidder to: (a)obtain the necessary financial resources to complete the redevelopment of Redevelopment Parcel No. 1A, including,without limitation,the financial resources available to complete the Residential Buildings: AMLI can self-finance the development costs as described in the Presentation Book. (b) complete the Residential Buildings on schedule, within budget, and in compliance with plans, permits, and laws: See Presentation Book This evidence should include: (a) the names and address of Bidder's equity investors and construction lender: Not required, as discussed in the Presentation Book. (b)full financial statements with respect to Bidder and its principals: See Presentation Book. 3. Attach evidence of the financial resources of Bidder's equity investors and construction lender: Not required due to AMLI's ability to self-fund the development, as discussed in the Presentation Book. 4. Attach a description of the number and location of Similar Projects in which Bidder currently is engaged: Location Number of Apt. Homes Dallas/Ft. Worth, TX AMLI at Bent Tree ll Dallas, TX 200 AMLI at Deerfield Plano, TX 240 Atlanta, GA AMLI at Killian Creek Gwinnett County, GA 216 AMLI at Northwinds Fulton County, GA 800 AMLI at Park Bridge Alpharetta, GA 352 Chicago, IL AMLI at Oakhurst North Aurora, IL 464 AMLI at St. Charles St. Charles, IL 400 I:\2002\l\FULL SET OF OFFERING MATERIALS 032400.DOC 1 24Mar00 Location Number of Apt. Homes Austin, TX AMLI at Monterey Oaks Austin, TX 430 Kansas City, MO AMLI Creekside Overland Park, KS 224 AMLI at Wynnewood Farms Overland Park, KS 232 AMLI at Regents Crest Phase II Overland Park, KS 108 AMLI at Summit Ridge Lee's Summit, MO 432 Indianapolis, IN AMLI at Castle Creek Indianapolis, IN 276 AMLI at Lake Clearwater Indianapolis, IN 216 AMLI on Spring Mill Indianapolis, IN 400 4,990 5. Attach information with respect to the experience of Bidder,and of the individuals who will be assigned to this project (collectively, the "Bidder's Team"): See a full description of Bidder's Team in the Presentation Book. 6. Identify the architect,the engineer,and the general contractor or construction manager for this project, and include: (a) adequate financial statements with respect to the general contractor or construction manager: See Presentation Book. (b) firm resumes with respect to the architect, the engineer, and the general contractor or construction manager: See Presentation Book. (c) the name and position of a contact person for each of the architect,the engineer,and the general contractor or construction manager: See Presentation Book. 7. Attach a specific description of the obligations of CRC with respect to the redevelopment of Redevelopment Parcel No. 1A. i) CRC shall complete the site work described in Exhibit C of the Notice of Sale. ii) CRC shall construct the infrastructure and site improvements described in Exhibit C of the Notice of Sale. iii) CRC shall cause to be constructed,by CRC or other developers, the off-site detention area connecting to the detention area that serves Parcel 1 (i.e., the main reflecting pool/detention pond). 8. Identify any changes that would be required to the outline of the Project Agreement before Bidder would sign the Project Agreement. i) The closing date would need to be extended if closing contingencies were not able to be resolved prior to September 30, 2000. In particular, the ability to secure local building permits is unlikely by September 30, 2000 given the time required for items such as Indiana State Plan Release review of construction plans, and the need for State Plan Release prior to local building permits. AMLI would be willing to close by September 30, 2000, without these contingencies, if certain assurances regarding availability of permits and other similar matters could be reached between the City and AMLI, and due diligence items listed in the Notice for Sale are cleared successfully within the time period. ii) AMLI would not require a financing contingency. I:\2002\I\FULL SET OF OFFERING MATERIALS 032400.DOC 2 24Mar00 • iii) AMLI would submit plans for exterior approvals and detailed site plans to CRC within the 90-day time period, but such drawings would not be a full set of construction working drawings, including structural and mechanical details. AMLI would not commit to completion by November 30, 2000, as discussed in the enclosed Presentation Book under the "Schedule"section. Commencement of full construction by AMLI is, in part, dependent upon completion by CRC of wetland mitigation requiring coordination with agencies outside the City's control. In addition, commercially reasonable construction standards for a detailed 300+ unit luxury apartment community in Indianapolis would suggest a construction schedule of twenty to twenty-two months, based upon our ten-year experience in Indianapolis. Initial occupancy by residents would likely occur ten to twelve months from commencement and would continue through completion. I:\2002\I\FULL SET OF OFFERING MATERIALS 032400.DOC 3 24Mar00 Attachment C STATEMENT OF BIDDER'S QUALIFICATIONS 1. Name of Bidder:AMLI Residential Properties, L.P. 2. Permanent address of Bidder: 125 S. Wacker Drive, Suite 3100, Chicago, IL 60606 3. If the Bidder is not an individual doing business under his or her own name, then the Bidder has the status indicated below and is organized or is operating under the laws of Delaware A corporation A non-profit or charitable institution or corporation XX A partnership or limited liability company A business association or a joint venture A trust A Federal, State, or local government or instrumentality thereof Other(explain) 4. Is the Bidder a subsidiary of,or affiliated with, any other corporation or any other firm or firms? Yes XX No See attached SEC Filing 10K and proxy statement. If yes:(a),attach a list of the name and address of each such corporation or firm by name and address; (b)specify the relationship of each such corporation or firm with the Bidder; and (c) identify the officers and directors or trustees common to the Bidder and such other corporation or firm. 5. If the Bidder is not an individual or a Federal, State, or local government instrumentality thereof, state the Bidder's date and place of organization: Delaware 11/93 6. Attach a statement of the names,addresses,titles or positions(if any),and nature and extent of the interest of the following: See attached SEC filing 10K and proxy-statement (a) If the Bidder is a corporation,the officers, directors, or trustees, and each stockholder owning more than 10%of any class of stock; (b) If the Bidder is a non-profit or charitable institution or corporation, the members who constitute the board of trustees,the board of directors,or a similar governing body; (c) If the Bidder is a partnership or limited liability company, each partner, member, or manager, and either the percent of interest or a description of the character and extent of interest of each partner or member; See Proxy Statement (d) If the Bidder is a business association or a joint venture, each participant and either the percent of interest or a description of the character and extent of interest of each participant; (e) If the Bidder is a trust,each beneficiary and each settlor empowered to revoke or modify the trust;and (f) If the Bidder is some other entity, the officers, members of the governing body, and each person having an interest of more than 10%. L\2002\l\FULL SET OF OFFERING MATERIALS 032400.DOC 24Mar00