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Public Notice and Postine: Requirements The PPEA requires the posting and publishing of public notice of a private entity's request for approval of a qualifying project, including: (i) specific information and documentation to be released regarding the nature, timing, and scope of the qualifying project pursuant to S 56-575.4, as amended, unless certain information is waived by the public body; (ii) it requires advertising a public notice and posting the notice within 10 days of the City's acceptance of an unsolicited proposal or of solicited proposals, more fully described in Sections II. and III. below. If an agreement is reached with a proposer or proposers there are additional public notice requirements, more fully described in Section VII. below; and (iii) the City shall provide a reasonable time period of at least 45 days during which the City shall receive competing proposals pursuant to S 56-575.4, as amended. Such time period shall also be determined by the City to encourage competition and public-private partnerships in accordance with the goals of the PPEA. I. General Provisions A, Proposal Submission A proposal may be either solicited by the City or delivered by a private entity on an unsolicited basis. Proposers may be required to follow a two-part proposal submission process consisting of an initial conceptual phase and a detailed phase, The initial phase of the proposal should contain specified information on proposer qualifications and experience, project characteristics, project financing, anticipated public support or opposition, or both, and project benefit and compatibility. The detailed proposal should contain specified deliverables. The PPEA allows private entities to include innovative financing methods, including the imposition of user fees or service payments, in a proposal. Such financing arrangements may include the issuance of debt instruments, equity or other securities or obligations, including, if applicable, the portion of the tax-exempt private activity bond limitation amount to be allocated annually to the Commonwealth of Virginia pursuant to the Economic Growth and Tax Relief Reconciliation Act of 2001 for the development of education facilities using public-private partnerships, and to provide for carryovers of any unused limitation amount. The PPEA is a flexible development tool that allows the use of innovative financing techniques, Depending on the City's authority and the circumstances of each transaction, financing options might include the use of special purpose entities, sale and lease back tI'ansactions, enhanced use leasing, property exchanges, development agreements, conduit financing and other methods allowed by law. Page 6 of 29