Description
The City of Bridgeport is seeking proposals for the reuse, redevelopment, and operation of the Total Mortgage Arena, a 10,000-seat multipurpose regional entertainment and sports venue. The City is looking for experienced developers and operators to generate substantial economic impact, support regional job creation, strengthen Connecticut's cultural and tourism economy, enhance transit-oriented development, and deliver equitable community benefits to Bridgeport residents and surrounding neighborhoods. The successful respondent will be required to enter into a development and operating agreement with the City, which will stipulate the level of private investment required, the timeframe for completion of capital improvements, and the ongoing requirements for funding maintenance and operating reserves. Some key aspects of the proposal include:
* Annual projected employment
* Estimated tourism and visitor draw metrics
* Year-round event or programming days
* Construction-phase economic impact estimates
* Business plan, including capital budget and ten-year operating pro-forma
* Proposed sources and uses of funds for capital redevelopment project and for operations
* Preliminary economic impact analysis
* History/past record of operating similar businesses, experience with public-private partnerships, financing, and managing multi-use entertainment venues and large-scale facility maintenance
* Plans to integrate the operation with surrounding businesses, neighborhoods, and institutions
* Development drawings for any retrofitting or structural alterations
* Any community benefits or local hiring
* Conformance with objectives of Plan Bridgeport, the City’s Master Plan of Conservation & Development
Attached files
The solicitation documents live at the source — open the bid source above to download them.