The city is seeking qualified developers to participate in speculative industrial development within a designated strategic employment zone. The objective is to create employment-generating industrial spaces that support economic diversification, stimulate private investment, and grow the city’s tax base, all while maintaining long-term public ownership of the underlying land.

Developers are expected to implement the city’s ground lease structure, establish a framework for entitlement cost recovery, define post-entitlement rent methodology, and adhere to established fiscal and evaluation standards. The financial structure includes a temporary, capped, and performance-based entitlement cost recovery period, transitioning to a stabilized, market-aligned ground rent after project entitlement, construction, and leasing.

Interested parties should note that all questions regarding this opportunity must be submitted by March 3, 2026.