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04-09-07 Item 7B, AUAR Relating to TCAAP
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04-09-07 Item 7B, AUAR Relating to TCAAP
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10/10/2022 3:18:44 PM
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4/6/2007 11:43:20 AM
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04-09-07 Item 7B, SRF Consult Contract
General - Type
Agenda Item
Category
Contract for AUAR Relating to TCAAP
Date
4/9/2007
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<br />,1. ~ <br /> <br />Execution Copy <br /> <br />PRELIMINARY DEVELOPMENT AGREEMENT <br /> <br />THIS AGREEMENT is made and entered into as of this 3.v day ofl'U.~007 by <br />and between the CITY OF ARDEN HILLS, a MilD1esota municipal corporation (the "City"), and <br />RRLD, LLC, a Delaware limited liability company (the "Developer"). <br /> <br />RECITALS <br /> <br />WHEREAS, the City and CRR, LLC ("CRR") entered into that certain Interim Agreement <br />dated as of August 26, 2002, and amended by Amendment No. I thereto dated October 25, 2004 <br />(together, the "Interim Agreement"), regarding the acquisition and redevelopment of a portion of the <br />Twin Cities Army Ammunition Plant (the "TCAAP Site") in the City; and <br /> <br />WHEREAS, the Interim Agreement expired in accordance with its terms on May 9, 2005; <br /> <br />and <br /> <br />WHEREAS, the Developer is the successor to CRR; and <br /> <br />WHEREAS, the parties have determined to amend and restate the Interim Agreement by <br />entering into this Agreement; and <br /> <br />WHEREAS, this Agreement concerns the portion of the TCAAP Site described in Exhibit <br />A hereto (the "Development Property"), which property is expected to be acquired by the City from <br />the United States of Ameriea acting by and through the General Services Administration (the <br />"GSA") pursuant to the terms of an Offer to Purchase between the City and GSA dated August I, <br />2006 as amended by a letter amendments thereto dated August I I, 2006, November 15,2006, and <br />February 12, 2007, and additional amendments entered into from time to time (together, the <br />"OTP"); and <br /> <br />WHEREAS, the Development Property is now occupied by the former Twin Cities Army <br />Ammunition Plant, which has been abandoned and is being disposed of by GSA on behalf of the <br />United States of America; and <br /> <br />WHEREAS, the City has engaged in a comprehensive planning process to guide the <br />redevelopment of the Development Property, which process is intended to remove impediments to <br />development, maximize the property's potential for revitalization of the City and surrounding <br />region, increase tax base for the City and all taxing jurisdictions, and increase commercial and <br />housing opportunities at this critical site in the City; and <br /> <br />WHEREAS, the parties acknowledge that there are significant environmental issues <br />affecting the Development Property, and that redevelopment of the property will require zoning <br />changes, significant remediation activities and substantial infrastructure improvements; and <br /> <br />299882 (SJB) <br />ARl004 <br />
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