CCP 04-08-2002 - Laserfiche WebLink

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Ma r I'J 1 I] I] 2 12 3 2 PI~ 1 No,173J p. 4/20 CONTRACT FOR EXCLUSIVE NEGOTIATIONS AND CONSULTING AGREEMENT BY AND BETWEEN THE CITY OF NEW BRIGHTON, MINNESOTA AND RY AN COMPANIES US, INC. e This Contract for Exclu.sive Negotiations and Consulting Agreement'made as of the 1st day of January, 2002, by and between the City of New Brighton, Minnesota, a public body corporate and polItic (the "City"), having its principal office at 803 Old Highway 8 NW, New Brighton, Minnesota 55112-2792, and Ryan Companies US, Inc., a Minnesota corporation ("Ryan"), having its principal offices at 700 International Centre, 900 Second Avenue South, Minneapolis, Minnesota 55402-3387. RECITALS The Redevelopment Property, described on attached Exhibit A, is an underutilized and inappropriately developed site. The City's objective is to facilitate a well-planned development of the Redevelopment Property through a coordinated and integrated development strategy which will take advantage of the unique characteristics of the Redevelopment Property. Planning the Redevelopment Property as a comprehensive district, the City will develop it as a high-profile regional center compatible with surrounding land uses, including the new downtown projects and Long Lake Regional Park. The development will minimize additional truck traffic . to the Old Highway 8 Corridor, while at the same time bringing an increased vjsibility and aesthetic value to the Redevelopment Property and the City. In an effort to mitigate the adver~e impact of the Redevelopment Property and to preserve and enhance the value and tax base of the Redevelopment Property and of the City, the City anticipates that a number of actions will be called for, including the acquisition of the existing commercial businesses within the Redevelopment Property and the redevelopment of the Redevelopment Property as a high 'density, mixed use development to include commercial and residential development, including, but not limited to, office buildings, office/warehouse, office/showroom, light industrial, restaurants, retail, townhouses and structured parking. The purpose of this Agreement is (i) to designate Ryan as a redevelopment consultant to the City and (ii) for the City to negotiate exclusively with Ryan as hereinafter provided and (iii) to set forth the scope of sefVJces to be provided by Ryan and the actions to be undertaken by the City in the planning and the implementation of the redevelopment of the Redevelopment Property. NOW, THEREFORE, in consideration of the premises and mutual obligation of the partIes hereto, each of them does hereby covenant and agree with the other as follows: e 1