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05-29-07 Item 7E, Amendment #2 to Preliminary Development Agreement with RRLD
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05-29-07 Item 7E, Amendment #2 to Preliminary Development Agreement with RRLD
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6/25/2007 4:43:44 PM
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5/25/2007 11:05:14 AM
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05-29-07 Item 7E, RRLD Prelim Agr Amend
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Agenda Item
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Prelim Agr Amend with RRLD
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5/29/2007
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<br />of the PDA. This means that if the PDA is terminated before its expiration, or the term expires <br />with or without an MDA, and the City within two years after the effective date of termination or <br />expiration enters into a definitive development agreement with another developer, then the City <br />will reimburse the developer for this cost under the terms described in Section 5 (f) (2) and <br />Exhibit E. The Second Amendment to the PDA also states that the City will reimburse the <br />developer for pre-design costs if the City receives grant funds from the federal government, State <br />of Minnesota, Ramsey County, or Metropolitan Council during the term of the PDA. (This is the <br />same langnage you recently approved in Amendment #1 of the PDA, as it applies to the <br />proposed County Road H interchange project.) <br /> <br />The second requested action by Council is to approve Resolution No. 07-59 (See Agenda Item <br />7.F.) This resolution is proposed in order to establish the pre-design funds as eligible for <br />reimbursement should other funds be secured for the project. This resolution refers back to the <br />Second Amendment ofthe PDA. <br /> <br />ACTION REQUESTED <br />1. Motion to Approve Second Amendment to the Preliminary Development <br />Agreement between the City of Arden Hills and RRLD, LLC. <br /> <br />Attachments <br />MW <br /> <br />\\metro-inet\ardenhills\Admin\City Administrator\Memo\2007\5-29-07 Amendment #2 to PDA-doc <br />
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