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<br /> <br />Page 1 of 1 <br /> <br />Joint Development Authority <br /> TCAAP Redevelopment Project <br /> <br />DATE: November 30, 2017 <br /> <br />TO: Joint Development Authority Board of Commissioners <br /> <br />FROM: Administrators Olson and Joynes <br /> <br />SUBJECT: Master Development Agreement Update <br /> <br /> <br />Negotiations and other activities associated with the purchase agreement and a Master Development <br />Agreement (MDA) with Alatus Arden Hills LLC are ongoing. <br /> <br />The Preliminary Development Agreement (PDA) is a document that serves to outline the responsibilities <br />of the Joint Development Authority (JDA) and Alatus Arden Hills LLC during negotiations for a Master <br />Development Agreement. Ramsey County nears final closing on the remaining 30 acres of the TCAAP site <br />from the USA. Both JDA and Alatus Arden Hills LLC continue to pursue a better understanding of any <br />optimization study impacts and learn more about Amazon decision-making timelines and development <br />preferences. <br /> <br />The JDA approved a PDA with Alatus Arden Hills LLC on June 6, 2016. The PDA was amended on <br />December 21, 2016 and May 12, 2017. The current PDA is set to expire March 8, 2018. <br /> <br />Because significant factors affecting the timing and negotiation of the MDA are unknown and outside of <br />their control, Alatus Arden Hills LLC and JDA staff are jointly recommending the wavier of each party’s <br />right to terminate the PDA prior to March 8, 2018 on 30 days’ written notice pursuant to Section 4 of the <br />PDA. If the significant factors are still unsolved as of March 8, 2018, the JDA and Alatus Arden Hills LLC <br />may in their respective discretion at that time elect to extend the PDA. <br /> <br />JDA Action Requested: <br />Agree to waive its right to terminate the PDA prior to March 8, 2018 subject to, and effective upon, Alatus <br />Arden Hills LLC confirming in writing that it also waives its right to terminate the PDA prior to March 8, <br />2018. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />AGENDA ITEM 6a <br />MEMORANDUM