Excerpt:

The AUC Team proposes renovating the BEQ for a combination of assisted senior living, independent senior living, student housing, and office space consistent with the ZA and MIP. City staff recommends exploring the AUC Team's qualifications and development proposal in greater depth as part of an Exclusive Negotiation Agreement (ENA) between the City and the AUC Team (Exhibit 2). The ENA is intended to result in an approved Disposition and Development Agreement (DDA) (i.e., price and terms of payment for the land and development obligations), and an approved Development Plan (i.e., detailed development plan, building footprints and massing, if applicable, landscape concepts, and a phasing plan). The following provides a summary of the key terms of the proposed ENA: