Allen Bell, the city of Wichita’s economic development director, volunteered some information during Tuesday’s council meeting that really didn’t register at first.
Bell said that the city, in sending out fliers to sell 2.3 acres at First and Waco – no RFP, just fliers – asked interested parties to offer up their last, best offer for the land.
But a closer look at the offers submitted by the Greater Wichita YMCA and InSite Real Estate Group raises a question: How do you define the best offer?
The InSite offer was for $700,000 for the land, on which 60,000 feet of office space would be built within the next five years.
The Y package provided by city officials didn’t include a cash price, but included a laundry list of programs similar to what the Y offers at its other Wichita locations. It’s an impressive collection of community programming, to be sure. But there’s no offer of money.
So how did city staff arrive at the Y offer as the best?