NATCHEZ &045; Aldermen are expected to take action at this morning’s aldermen meeting on an option agreement for the purchase of the old Natchez Pecan Factory site.

The meeting is set for 11 a.m. at the council chambers on Pearl Street across from City Hall.

Earlier this month, aldermen interviewed five development teams that have submitted proposals to buy and develop the city-owned building and 2.52-acre site near the Mississippi River bluff.

Those submitting proposals included Alan Fuqua of Houston; Robert Johnson of Pecan Development LLC; James M. Biglane; Larry L. Brown Jr. and Edward A. Worley; and Richard A. Edgin, Glenn Green and Johnny Waycaster of Broadway Properties LLC.

Aldermen are evaluating the proposals based not only on the price offered for the property, according to the city’s request for proposals.

Other factors they’re considering include the type of development proposed, the dollar amount of investment, what financial backing the group has and how soon the development could be built and open.

City Attorney Walter Brown said the developments are mostly condos, although some include a smaller amount of retail development. City officials have said they would prefer at least $500,000 for the site.

However, the city stated in its request for proposals that all other details of the proposals would be kept confidential.

And developers contacted Monday said they will not divulge any details, at least until after the Board of Aldermen finalizes an option agreement.

City officials have said development of the pecan factory site is just one part of their overall plan to develop the riverfront. They are currently courting prospects to build a hotel across Canal Street from the convention center.