CCP 04-08-2002 - Laserfiche WebLink

Home Browse Search

Memo to Mayor and City Council TCAAP Developer Discussion April 10, 2002 Page 2 of3 . technical information. As part of the agreement, the developer submitted cash and a letter of credit to offset cost incurred by the City in conjunction with a review of the project. For reference, prior to the execution of this agreement, the City had done significant land use and project planning for the site. In addition, the City has acquired, or is in the process of acquiring the land for the project. 2. Northwest Quadrant Redevelopment in New Brighton The City of New Brighton currently has a "Contract for Exclusive Negotiations and Consulting Agreement" with Ryan Companies. This agreement provides the framework for the negotiation of a development agreement in the future. Based on this agreement, if the terms of the redevelopment agreement cannot be agreed to, or if the project cannot proceed, the developer would be reimbursed by the City up to $200,000. For reference, prior to the execution of this agreement, the City had done significant land use and project planning for the site. In addition, the City has acquired, or is in the process of acquiring the land for the project. 3. Upper Landings Redevelopment in St. Paul . The approach taken by the Upper Landings project in St. Paul was somewhat unique. In this instance, the St. Paul HRA adopted a resolution designating a tentative developer for the project. In exchange for the designation, the developer was required to submit a $100,000 refundable deposit. However, it was explicitly recognized that all pre- development activity was the developer's responsibility. After preliminary analysis and due diligence, the resolution provides a framework for entering into a formal redevelopment agreement. It should be noted that the St. Paul HRA did own the property, and that conceptual land use planning had been completed. Due to the many unique characteristics associated with the reuse and redevelopment of TCAAP, and since more refined project planning and analysis needs to be completed prior to entering into a preliminary or standard redevelopment agreement, staff would suggest an agreement similar to the one utilized in the Upper Landings redevelopment with the following distinctions: I. The document take the form of a "Preliminary Development Agreement" as opposed to a resolution. 2. Language be incorporated to reflect legal, technical and goverrunental affairs activities associated with land acquisition efforts. 3. Incorporate provisions requiring an escrow to be submitted to the City for reimbursement of project expenses including but not limited to legal, goverrunental affairs, planning, a. environmental, and engineering consultants that may need to be retained to ensure the .. City's interests are appropriately represented. 4. City selects, or has input into the selection of the planning/design firm.