Mayor Bill Haslam has begun negotiations with Kinsey Probasco Hays & Associates to redevelop City-owned structures at World's Fair Park.

KPH offered the most comprehensive and financially beneficial proposal to the City. Final details remain to be worked out over the next several weeks.

"I appreciate the interest shown by those who responded to our request to examine ways in which the City's assets at World's Fair Park could be better utilized to the benefit of taxpayers," Mayor Haslam said. "We will begin discussions with Kinsey Probasco Hays on the details of their proposal with the goal of recommending an agreement in April."

Kinsey Probasco Hays & Associates created the Market Square redevelopment plan and has been actively involved redevelopment of Chattanooga's downtown and waterfront.

The firm's proposal was the only one of nine submitted that addressed uses for all the World's Fair Park structures, which include the Sunsphere, Candy Factory, Victorian Houses and Tennessee Amphitheater. The plan includes a mix of residential and commercial use.

The City issued a request for proposals for the redevelopment and/or adaptive reuse of the four structures last November after a public process that included the solicitation of comments from citizens about the potential reuse of these structures, tours of the park and buildings, and a public meeting to review suggestions and comments.

Interviews with the four finalists were conducted in an open meeting in January.