Developers will be given a final opportunity to amend their offers for acquisition of the former Rocky Point Amusement Park before the Small Business Administration presents the preferred plan to the federal bankruptcy court within a few days.

“It’s all going to happen relatively soon,” SBA District director Mark Hayward said last week.

As court appointed receiver for the 123-acre property, the SBA initiated a unique process to evaluate what it considered seven legitimate offers for the site with the creation of a review panel consisting of representatives from the city administration, the City Council, Warwick Neck and the Central Rhode Island Chamber of Commerce. After hearing developers outline each plan, the group met to narrow the choices to three or four.

With the exception of a plan for a retirement community that would include condominiums, assisted living and a nursing home, all of the proposals call for residential development of the former park. The retirement community is the proposal of Retirement Living Services Inc. of Hartford, CT, and reportedly is one of those favored for the former park.

As members of the council and the mayor will act on any rezoning of the park, Mayor Scott Avedisian said neither he nor those from the council ranked the proposals. Nonetheless, he said after three hours of reviewing the proposals “we all seemed to be coming together.”

“I think we will be able to work with them [the developers preferred by the group],” City Planner Mark Carruolo said yesterday. He said he deliberately had “little or no role” in selecting the preferred developments because he felt that might prejudice his role to later evaluate whatever project the SBA picks.

The names of the seven developers have purposely not been made public, although Hayward has disclosed their offers range from $12.5 million to $13.5 million. Developers will have a final chance to revise their bids as well as develop a plan before the SBA picks the one it will bring to the court for approval. Creditors including the SBA are seeking to recover over $14 million from the proceedings.

Hayward said all of the developers addressed city requests to provide public access to the waterfront, provide a resolution to the Rocky Beach neighborhood, provide a dock for possible use by bay ferries and preserve as much open space as feasible.

“Everyone was well aware of the foundations and requirements,” said Hayward.

As a practice, the SBA does not seek to develop a community consensus when liquidating property. In response to council efforts to be involved and a high level of concern over future use of the park property, Hayward created the review panel to bring together interested parties. He was happy with the result.