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Joint Development Authority <br />TCAAP Redevelopment Project <br />Joint Development Authority <br />TCAAP Redevelopment Project <br />AGENDA ITEM 3d <br />MEMORANDUM <br />DATE: February 3, 2025 <br />TO: Joint Development Authority Board of Commissioners <br />FROM: Director Jagoe and Ella Mitchell, Ramsey County <br />SUBJECT: Review Developer Agreements <br />The JDA requested to review agreements in place with developers for Rice Creek Commons. There are <br />currently two agreements in place. <br />•Outlot A: Purchase and Sale Agreement (PSA) <br />o Parties: Ramsey County and Ryan Companies <br />o Term: January 17, 2024 to March 31, 2025 <br />o Status: amendment for Phase 1 development at Outlot A under <br />negotiation <br />•California Parcel: Preliminary Development Agreement (PDA) <br />o Parties: JDA and Alatus LLC <br />o Term: December 3, 2024 to June 30, 2025 <br />o Status: currently in place <br />In addition, there is a term sheet that the JDA and Alatus agreed to in December 2023. This is a <br />nonbinding document that outlines terms the parties agree should be included in a development <br />agreement. <br />Attachments: <br />1.Preliminary Development Agreement <br />2.Term Sheet