CCP 02-16-1993 - Laserfiche WebLink

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. Arden Hills Page Three Mayor and Councilmembers February 12, 1993 4. Development Rights (contd.) District property for a period of five (5) years. Depending upon achievement of certain reasonable performance levels, Everest would have an option to extend the term of agreement for an additional five (5) years. Essentially, our proposal would be that Everest have the right to develop all or any portion of the property within the GB District, subject and pursuant to the following terms and conditions: a. In the event Everest successfully markets a site for development within the GB District, the city will cooperate with land acquisition, will permit development consistent with the uses and architectural standards as outlined in subsection 1 above, and will provide TIF support as outlined in in subsection 2 above. b. In the event the City is contacted regarding or otherwise becomes aware of development opportunities . or prospects that may be appropriate for the GB District, the City shall immediately notify Everest thereof and shall refer any prospects or inquiring parties to Everest. c. The foregoing is not intended to limit independent land owners from developing their properties, but rather is intended to restrict availability of city assistance for such development, unless Everest is involved as the developer. This consideration is sought in exchange for the significant investment Everest will be making in the GB District by reason of its efforts as outlined in sections 1 and 2 above. The above outline represents a more specific description of the proposal we are making with respect to development within the GB District. In the event these key elements of agreement are acceptable to the city, we would suggest that further discussions occur between Everest and city staff, to the end that a Development Agreement can be prepared and submitted to the Council for consideration. .