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assessments levied against Lot 1 related to the B-2 District streetscape improvements. Since <br />the development agreement between the City and NLD Arden Hills, LLC, the developer for <br />Walgreens, was not properly recorded this agreement would not have shown up on the title <br />report when the property was purchased by the Trusts in October 2012. <br />While the property is owned by the Pamela Couch Trust and the JGC Trust, under the terms <br />of the lease Walgreens is responsible for paying all property taxes, including special <br />assessments. The lease agreement also obligates the Trusts to support Walgreens in their <br />appeal of any taxes. The trustee is concerned that by agreeing to waive their right to appeal, <br />the Trusts could be put in a position where they were not able to fulfill the terms of the lease <br />if Walgreens were to appeal the B-2 District streetscape improvement assessments. <br />Other than these two items, the Amended and Revised Development Agreement accurately <br />reflects the conditions and approvals as approved by the City Council in Planning Case 09-011, <br />Planning Case 10-008, and Planning Case 11-016, and Planning Case 13-010. It should be noted <br />that several conditions included in the previously approved agreements that were subsequently <br />satisfied by the property owners have been removed from the revised agreement. <br />Due to the substantive changes that have been proposed, formal approval of the Arden Plaza <br />Amended and Restated Development Agreement by the City Council will be required. Staff has <br />shared a draft version of the Agreement with the Arden Plaza property owners and they do not <br />have any additional objections. Following City Council review of the document, the City <br />Attorney will complete a property title search to ensure that all relevant individuals and entities <br />sign the document.The agreement would then be brought to the City Council for final approval. <br />Review the proposed Arden Plaza Amended and Restated Development Agreement and provide <br />staff with feedback. <br />A.Arden Plaza Amended and Restated Development Agreement <br />_________________________________________________________________________________________ <br />City of Arden Hills <br />City Council Work Session for April 21, 2014 <br />P:\Planning\Planning Cases\2014\PC 14-016 - Arden Plaza - Amended and Restated Development <br />Agreement\Memos_14-016 <br />Page of <br />