04-21-14-WS - Laserfiche WebLink

Home Browse Search

1. It is anticipated that full development of the PUD Master Plan, as illustrated in the Redevelopment Plan Documents, as well as the redevelopment of surrounding areas will cause traffic congestion on that portion of County Road E located between Snelling Avenue and Lexington Avenue. Therefore, the construction of Phase III of the PUD Master Plan is contingent upon the oximately 650 feet west of the intersection of County Road E and Lexington Avenue. 2. A portion of the cost of the TS Improvement will either be specially assessed against benefiting parcels, including the property located within the PUD Master Plan or, in the alternative, the parties will negotiate payment terms. In either event the cost to be paid by Arden Plaza shall be between 20 and 25 percent as determined by the City Council. In determining whether to assess up to 25 percent of the cost of the TS Improvement, the City shall take into consideration the assessment of up to 5 percent of the cost of the TS Improvement against other parcels located south of County Road E and beyond the boundaries of the PUD Master Plan that are benefited by such improvement. If special assessments are utilized, Arden Plaza agrees that the property included within the PUD Master Plan will receive a special benefit in the amount of 20-25% of the cost of the TS Improvement, as determined by the City Council, as a result of the TS Improvement and hereby waives any public hearing requirements contained in Minnesota Statutes Chapter 429 and further waives any right to appeal from a levy of such special assessment. The provisions of this Section shall apply even if the construction of the TS Improvement occurs prior to development of Phase III. 3. Arden Plaza shall prepare a Declaration of Covenants and Restrictions formula for portioning the cost of the special assessment of the parcels included within the plat of Arden 8