Each proposal has advantages and drawbacks, the 18-page staff report says.

What each offers

Stone House has the most straightforward development in both construction and financing as well as a demonstrated ability to deliver the affordable housing element, but it has the longest repayment period for the Parking Utility, the report says.

Gebhardt maximizes density allowing for a relatively high payment to the city and the greatest number of low-cost housing units, but as a result the proposal carries the greatest risk in both construction and financing, it says. Mandel has offered a payment structure that, under certain assumptions, best matches the need to repay the Parking Utility but delivers the least amount of affordable housing.

The staff report comes as the city continues discussions with another private developer, Beitler Real Estate Services, of Chicago, on a hotel and housing on the Government East site after the garage is demolished.

3 years running