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02-26-07 Item 7A, Preliminary Development Agreement
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02-26-07 Item 7A, Preliminary Development Agreement
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6/25/2007 3:38:16 PM
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6/18/2007 4:41:59 PM
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02-26-07 Item 7A, CRR Prelim Dev Agr
General - Type
Agenda Item
Category
CRR Prelim Dev Agreement Approval
Date
2/26/2007
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<br />Section 3. Developer Undertakings. (a) In addition to all its other obligations under this <br />Agreement, the Developer shall submit to the City the following items at the following times: <br /> <br />(I) Within 90 days after receipt of each written request by the City from to time, the <br />Developer shall submit, in forms reasonably required by the City in order to <br />undertake the Alternative Urban Areawide Review ("AUAR") process: <br /> <br />(i) preliminary (and periodically updated) site plans for the Development <br />Property, and <br /> <br />(ii) preliminary (and periodically updated) development schedules for the <br />Development, including preliminary phasing and staging plan <br /> <br />(2) Within 30 days after the City and GSA (with Developer's consent) have entered into <br />a written agreement regarding the amount of remediation credit and the credit <br />mechanism under the OTP, Developer shall submit a preliminary project proforma <br />with estimated costs of the Development and possible sources and uses of all funds <br />to finance such costs; and <br /> <br />(3) Within 30 days after the draft of the AUAR is submitted forreview and comment in <br />accordance with Minnesota Rules, Chapter 4410, Developer shall submit a <br />preliminary report on the market feasibility ofIand uses designated in the AUAR. <br /> <br />(b) Developer on behalf of the City shall identify the nature, extent and cost of <br />remediation. Developer shall determine the terms and conditions of the Memorandum of <br />Agreement (as defined in Section 28 of the OTP). Also, Developer shall cooperate and participate <br />with the City in negotiations with GSA regarding any necessary amendments and clarifications to <br />the OTP; obtaining access to the Development Property; obtaining from GSA and U.S. Army all <br />environmental reports and information regarding the Development Property; determining the <br />mechanism for applying remediation costs as a credit against the purchase price and the amount of <br />such credit; obtaining changes to the FOST and FOSET (as defined in Section 5 of the OTP); <br />obtaining acceptable terms for the Covenant Deferral Request process for early transfer under <br />Section 24 of the OTP and the timing thereof; all other matters under the OTP; the terms and <br />conditions relating to the conveyance and remediation of the Wildlife Area and the Athletic Field <br />Area; and the matters set forth in this Section 3 and in Section 5(a) through 5(f) and Section 7 <br />below. As used in this Agreement, the "Wildlife Area" and the ""Athletic Field Area" shall mean the <br />portions of the Development Property designated on Exhibit B. <br /> <br />(c) Developer shall provide, upon the reasonable request of the City staff from time to <br />time, reports as to the Developer's progress in assembling the information necessary to comply with <br />the tenns ofthis Agreement. <br /> <br />(d) <br />Guaranty. <br /> <br />Developer agrees to fund the earnest money as provided in Section 3.0B of the <br /> <br />4 <br />
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