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January ]4,2008 EHLERS Date: LEADERS IN PUBliC "INANeE To: City Council From: Stacie Kvi]vang Subject: TCAAP Update Acquisition of TCAAP Property . The City, RRLD and the GSAlArmy will be mee1ing on January 15-]6, 2008 in Minneapolis 10 discuss (I) finalizing the remediation credit categories (with a signed letter agreement), (2) providing an upda1e on the remedial investigation, (3) setting a timeline for negotiating the remediation cost credit (with a corresponding amendment to the OTP), and (4) discussing the assumptions for cleanup. The City and RRLD will be having a conference call on January 8, 2008 to prepare for the meeting on January 15th. . On December 18, 2008, RRLD and the Army executed a letter agreement regarding the results of the asbestos survey. The Agreement outlines that if the transfer process does not occur, the Army will return the information or reimburse RRLD for the cost of the survey. . RRLD sent the Army a draft letter agreement regarding sharing the results of the remedial investigation (same as asbestos survey). ]t is anticipated that the agreement will be executed by both parties by January 10, 2008, so RRLD can share the information with the Army at the meeting on January 15-] 6, 2008. . On January 28, 2008, the City Council will review amendment #7 to the Offer to Purchase (OTP). The amendment will be an extension of the date upon which the credit amount needs to be agreed to by the parties. The current date is February I, 2008 and the new date will be discussed at the meeting with the GSAlArmy on January 15-16, 2008. Environmenta] Characterization & Demolition . Ryan has received preliminary demolition numbers from their contractor and will be reviewing them this week. . The draft form of the sample results are completed and will be shared with the GSAI Army at the meeting on January 15-16, 2008. Barr engineering will be meeting with RRLD's environmental consultants in the near future to review the data. Preliminary Development Agreement . The PDA expires on March 30, 2008. It is anticipated that a request for an extension will be brought to the City Council for discussion at a work session in February and for formal review/approval in March. Hwy 10 and 96 . MNDOT prepared three (3) design options for the roadways and these, along with the previous concepts, will be discussed with the City Council at a work session on January 22, 2008. Project Status Merno ]