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<br /> Arden Hills Council 7 July 13, 1992 <br /> 2) The developer needs additional time to repay debt . <br /> incurred to construct the project, <br /> Attorney Filla drew attention to the fact that the language <br /> requires the developer must meet both requirements. <br /> Councilmember Malone commented that the interim us e <br /> agreement appears to match Council's intent. <br /> Mayor Sather asked what would happen if financing for this <br /> project fall s through. Fill a responded that the developer <br /> must satisfy the terms and conditions of the agreement <br /> within 60 days or must comply with the City's ordinances <br /> (including development moratorium) unless Council excludes <br /> this issue from the moratorium. <br /> MOTION: Malone moved, seconded by Hicks, to authorize the Mayor <br /> and City Administrator to execute the Interim Use <br /> Agreement between the City and Dennis Foster/What-A- <br /> Racquet Sports Club, Motion carried unanimously (4-0), <br /> MOTION: Malone moved, seconded by Hicks, to approve the site <br /> plan (Case 92-09) for Dennis Foster/What-A-Racquet <br /> Sports Club, subject to execution of the Interim Use <br /> Agreement. Motion carried unanimously (4-0). . <br /> Councilmember Hicks commented that in discussions with the <br /> developer, the developer has suggested 8% park dedication <br /> fees, and delaying payments until December, 1992 wi th prime <br /> rate interest. Hicks added that the land value, as <br /> determined by the developer's appraiser is $420,000. Hicks <br /> stated that he would prefer a 10% park dedication fee but <br /> would be agreeable to delayed payments with prime rate <br /> interest. Council concurred. <br /> Councilmember Malone commented that although the What-A- <br /> Racquet building is to be a recreational use, it is also a <br /> profit business, and is therefore subject to park dedication <br /> in the same manner as any other building permit. <br /> RESOLUTION 92-46 ACCEPTING BID <br /> 1992 COLD IN PLACE RECYCLING PROJECTS <br /> Engineer Maurer stated there were three bids received July <br /> 9, 1992, on the 1992 Street Cold In Place Recycling <br /> Improvements, of which the lowest bid was $82,948.10 from <br /> Ashbach Construction, He added that this low bid is 30% <br /> under the engineer's estimate, and that bidder has received <br /> good references from Ramsey County and the State of <br /> Minnesota for similar work done in those jurisdictions. <br /> . <br /> 'I' <br /> ." <br /> Ie <br /> " <br /> I; <br /> . <br />