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As used in this chapter: (a) “Best interests of the city” means a procurement process that is determined by the city to provide the best value and an expedited delivery schedule while maintaining a high level of quality workmanship and materials. (b) “Best value” means a value determined by objective criteria that shall include a combination of price, financing costs, features, functions, performance, life-cycle maintenance costs and abatement offsets, and development experience. (c) “Business entity” means a partnership, corporation, or other legal entity that is able to provide appropriately licensed contracting, architectural, engineering, financial, operations, management, facilities maintenance, and other services for development of a new Long Beach Civic Center. (d) “City” means the City of Long Beach and its departments, including the City of Long Beach Harbor Department. (e) “Long Beach Civic Center” means the area bounded by Broadway, Pacific Avenue, Ocean Boulevard, and Magnolia Avenue, containing approximately 14.98 acres, and the parcel on the south side of 3rd Street between Pacific Avenue and Cedar Avenue, containing approximately 0.89 acres. (f) “Private entity” means an individual, business entity, or combination of individuals and business entities. (g) “Private portion of the project” means those parcels of land within the Long Beach Civic Center to be conveyed to a private entity and developed as residential, retail, hospitality, institutional, or industrial facilities. (h) “Project” means the revitalization and redevelopment of the Long Beach Civic Center with a new city hall, port headquarters, public library, and public park, and residential, retail, hospitality, institutional, and industrial facilities. (i) “Public portion of the project” means those parcels of land within the Long Beach Civic Center to be developed as a city hall, port headquarters, public park, public library, or other government facilities. (j) “Public-private partnership” means a cooperative arrangement between the public and private sectors, built on the expertise of each partner, that best meets the city’s needs through the appropriate allocation of resources, risks, and rewards for the purposes of, and, including, but not limited to, studying, planning, designing, constructing, developing, financing, operating, maintaining, or any combination thereof, the project.