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AGENDA ITEM - 3A <br />-ADEN HILLS <br />MEMORANDUM <br />DATE: October 15, 2024 <br />TO: Honorable Mayor and City Councilmembers <br />FROM: Jessica Jagoe, Interim City Administrator <br />SUBJECT: Rice Creeks Commons/TCAAP Discussion <br />Budgeted Amount: Actual Amount <br />N/A N/A <br />Council Should Consider <br />Funding Source: <br />N/A <br />Council should discuss its next steps and provide direction on development items towards the <br />future development of Rice Creek Commons/TCAAP. <br />Background <br />The City Council has given direction to schedule a special work session to discuss the term sheet <br />items related to the future development of Rice Creek Commons (RCC)/TCAAP. Staff has <br />shared with the Council that Ramsey County and Alatus are currently in negotiations for the sale <br />of the "California" parcel relative to the future development of the site. In addition, the County <br />has contracted with Kimley Horn for the completion of design plans for the mass grading and <br />spine road. These actions are consistent with the Joint Powers Agreement for the redevelopment <br />of RCC. Given the advancement in these areas, the City Council felt the previously agreed upon <br />Memorandums of Understanding (MOU) (i.e. Civic Site, Parks), draft agreements (i.e. <br />Cooperative Agreement), and deal terms should be revisited and reaffirmed. <br />Discussion <br />For purposes of tonight's discussion, staff is seeking direction from the City Council on next <br />steps for the process and review of terms relative to the future development of RCC. Included <br />with this memo is the 2022 Term Sheet between the City and Alatus, and a draft road map of <br />agreements that will need to be completed as part of the future development of RCC. Staff <br />would suggest that the Council assign priority and order for discussion of these items. Future <br />special work sessions would then be grouped topic specific allowing for staff and others (i.e. <br />City Attorney and Financial Advisor) to prepare the relevant content (ex. historical background, <br />draft language, updated cost assumptions, financials, etc.) that will be necessary to aid in more <br />targeted discussions. Below is an initial list of topics and corresponding agreements to be used <br />Page 1 of 2 <br />