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Springfield Casino Overview Recommendation Final

Springfield Casino Overview Recommendation Final

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Published by masslive
A look at the final recommendation for a Springfield casino based on the request for proposals for siting a casino in the city.
A look at the final recommendation for a Springfield casino based on the request for proposals for siting a casino in the city.

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Published by: masslive on May 02, 2013
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07/10/2013

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CITY OF S P R I N G F I E L D , M A

North  End   Penn  Na'onal  

South  End   MGM  

RFP DEVELOPER SELECTION SUMMARY
Downtown Destination Casino Resort
May 1, 2013

The Chicago Consultants Studio Inc. May 2013

Overview of Proposals Evaluation and Host Community Agreement Negotiations Preferred Developer Next Steps

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Overview of Proposals
•  •  Two Exceptional Proposals North End - Penn National Highlights •  South End - MGM Highlights

Evaluation and Host Community Agreement Negotiations Preferred Developer Next Steps

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OVERVIEW OF PROPOSALS
City’s RFQ/RFP process produced: •  Two exceptional proposals representing unique but different urban redevelopment opportunities for downtown Springfield, the Pioneer Valley and Massachusetts •  Both create signature destination developments that could serve as a key addition to downtown •  Both strive for additional broader economic impact & development •  Both represent quality proposals that could compete with other casino proposals in the region

Proposed Destination Casino Resorts
South End - MGM •  South end “immersive” urban site with multiple access points and approaches •  Mixed use development with gaming, hotel, retail, entertainment, residential and parking •  Reuse of existing historic structures and integration into city fabric •  Strong outward focus •  Commitment to and economic support for area institutions and venues North End - Penn National •  North end “destination” site with direct highway access and visibility •  Development with gaming, hotel, retail and parking “on site” •  Relocation of Republican Newspaper and Peter Pan Bus Company •  Collaboration with Paramount Theater •  Collaborations with area institutions and venues
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North End Penn National Highlights

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South End MGM Highlights

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Overview of Proposals Evaluation and Host Community Agreement (HCA) Negotiations
•  •  Process Overview and Methodology Planning and Development Considerations •  Deal Term Considerations •  Final Offers

Preferred Developer Next Steps

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EVALUATION AND HCA NEGOTIATIONS
Process Overview and Methodology
Process •  Phase One RFQ/RFP followed by Phase Two RFQ/RFP •  Public Presentation and Input Throughout (open, transparent and engaged) •  Proposal Submittals and Clarifications •  Negotiations and Refinements •  Final Offer •  Mayor’s Decision •  HCA Execution •  City Council Approval Methodology •  Professional Review (Traffic, Economics, Urban Planning, Impacts) •  Advisory Committee Work Sessions •  Public Forums •  Due Diligence
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EVALUATION AND HCA NEGOTIATIONS
Planning and Development Considerations
•  •  •  •  •  •  •  •  Leveraging each Site’s Unique Attributes and Urban Design Potential Integration into “City Fabric” and Context Density, Program and Land Uses Conceptual Site Plan/Program Layout (entry, sequence, flow, adjacencies, hierarchy) Massing and Architectural Response Traffic Flow, Impact and Enhancements “Off-site” Impacts and/or Commitments (collateral economic development, streetscape, parks, etc) Potential to Stimulate Adjacent Downtown Urban Initiatives and Investments

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EVALUATION AND HCA NEGOTIATIONS
Deal Term Considerations
•  •  •  •  •  Project Investment Revenues to City Other Fiscal Commitments (Community Impact, sponsorships/grants, etc) Non-Revenue Commitments (Economic Development, etc) Delivery and Timeframe

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EVALUATION AND HCA NEGOTIATIONS
Final Offer
Following clarifications, negotiations and reaffirmation of commitments, and enhancement to each overall project, the City requested best and final offers which became the basis for negotiating an HCA with each Developer.

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Overview of Proposals Evaluation and Host Community Agreement (HCA) Negotiations Preferred Developer
•  Selection •  Direct Economic Benefits for Springfield Urban Development Investments and Commitments •  City Building and Civic Opportunities •  Competitive Position with MGC

• 

Next Steps

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PREFERRED DEVELOPER
Selection
From extensive review, due diligence and detailed negotiations, Mayor Sarno, with input from the Mayor’s Ad Hoc Advisory Committee, his City team and outside consultants, and the City’s Chief Development Officer, has selected the Developer team of MGM Resorts International / Blue Tarp reDevelopment, LLC to pursue a gaming license together with the City of Springfield

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PREFERRED DEVELOPER
MGM Springfield – Program and Concept Highlights Site
•  •  14.5 acres in the South End encompassing prime area ravaged by 2011 tornado Requires some relocation/demolition and restoration/renovation Total Development: 850,000SF (excl. parking) Gaming: 125,000 SF; minimum of 3,000 slots, 75 table games Hotel: 250 Rooms with four-star amenities Retail: 28,000 SF incl. 20 shops and 10 restaurants by local and national brands Entertainment: Cinema Multiplex; Bowling Alley; outdoor “entertainment” plaza for events and concerts Office: 85,000 SF in renovated 101 State Street; 44,000 SF in Union Station for MGM corporate/training Residential: 54 market rate apartment units in mid-rise along Main Street Parking: 3,600 space garage with valet, self park and bus drop-off

Program:
•  •  •  •  •  •  • 

Urban Design/Architecture
•  •  Strong urban integration/linkages & immersion Contextual massing and materials
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PREFERRED DEVELOPER
MGM Springfield

Site  Plan  

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PREFERRED DEVELOPER
MGM Springfield

State  Street  
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PREFERRED DEVELOPER
MGM Springfield

Main  Street  

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PREFERRED DEVELOPER
Direct Benefits for Springfield Financial
•  •  •  •  Total Investment: Nearly $800M Projected Annual Gaming Revenues: $479M Impact Fees/Taxes: Nearly $15M upfront; anticipated $25M annually Other Revenue Commitments: pay all City expenses

Jobs/Business Opportunities
•  •  •  •  Gaming related: 3,000 permanent jobs Construction: 2,000 Construction Jobs Local Hire: at least 35% City residents; no more than 10% outside of City and surrounding area MBE/WBE/VBE
-  -  -  -  for construction & design professional services: at least 5% MBE; 10% WBE, 2% VBE for project construction: at least 15.3% MBE, 6.9% WBE & 8% VBE for operations: at least 50% MBE, 50% WBE & 2% VBE for providing goods & services following opening: at least 10% MBE, 15% WBE, & 2% VBE
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• 

Local Businesses: $50M procurement annually

PREFERRED DEVELOPER
Urban Development Investments and Commitments Economic Development
•  •  Additional Commitments - essential and powerful aspects that may well eclipse the direct revenues Mass Mutual/Symphony Hall/City Stage - four “Class-A” entertainment events at Mass Mutual and upper end events at the other venues for a total of twelve annually Union Station - 44,000sf / alternative $500K/yr Trolley – funding for two downtown trolleys operated by PVTA Downtown Residential - a unique and powerful catalyst to stimulate new housing investment in downtown and the South End

•  •  • 

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PREFERRED DEVELOPER
City Building and Civic Opportunities
The opportunity that gaming presents to urban areas is the ability to leverage a significant capital investment to revitalize and accomplish what otherwise might be unachievable. MGM Springfield provides the potential to engage the civic leadership of Springfield to put in motion a set of urban initiatives which strengthen and enhance the downtown and surrounding neighborhoods. The MGM Springfield Host Community Agreement provides for a collaborative and proactive planning process to craft a “strategic initiatives workbook” to redevelop the South End and surrounding areas, making Springfield’s “investment” in a casino far more than anticipated.

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PREFERRED DEVELOPER
Competitive Position with MGC
MGM/Springfield’s vision meets, exceeds and exemplifies the high bar established by the MGC’s urban development criteria. In turn, Springfield will stand out amount all regional and Commonwealth competitive venues as the signature, marquee, urban gaming resort investment.

Hard Rock - West Springfield

MGM Springfield

Mohegan Sun - Palmer

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Overview of Proposals Evaluation and Host Community Agreement (HCA) Negotiations Preferred Developer Next Steps
•  •  Joint Team Efforts with Developer/City Ongoing Interactive Development Process •  Timetable and Schedule

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NEXT STEPS
•  •  •  Massachusetts Gaming Commission – sharing our vision of MGM Springfield Ongoing Interactive Development Process Timetable and Schedule
–  –  –  –  –  –  Sign HCA Present HCA to City Council Referendum (July 2013) MGC decision (February 2014 – March 2014) Construction (+33 months) Opening (July 2016)

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An Investment in Springfield, the Pioneer Valley, the Commonwealth and New England

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