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district, as requested by Alatus, to provide funding for extraordinary amenities or services related <br />to the Town Center area that exceed standard City service standards. <br />At initial plat approval, Alatus will transfer to the City the City Center site previously identified <br />in the Memorandum of Understanding without any reversionary interest, but with a restrictive <br />covenant identifying the types of City uses allowed on the site. Should the City have an approved <br />use on the .site then Alatus, at no -cost to the City, will construct the utility connections for the <br />City Center Site and any associated underground pedestrian and vehicular access to the adjacent <br />building. Alatus and the City may pursue a joint development agreement for that site and will <br />evaluatethe potential for using additional qualified costs, under the Minnesota Tax Increment <br />Act, within the Project area to provide tax increment financing for those other qualified costs in <br />an amount equal to the cost of the portion of any structure, for which Alatus would develop at no <br />additional cost to the City. <br />8. In lieu of park dedication fees, Alatus will build Project parks and support facilities in accordance <br />with the executed Memorandum of Understanding dated 12.12.2016. Alatus will form an HOA <br />and BOA to pay for amenities, operations and maintenance costs for the Project area, including <br />natural resource areas owned by Alatus. The HOA and BOA will be responsible for any amenity <br />or service that exceed City standard amenity, service and maintenance practices. Revenues from <br />a special service district may be utilized, in accordance with state law, for payment of a portion of <br />these additional costs. <br />2198180 <br />