2025 03-18 CC Packet - Laserfiche WebLink

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1 BARNETT PROPERTIES DEVELOPMENT AGREEMENT THIS AGREEMENT made this _____ day of ________________________, 2025, is by and between the City of Gem Lake, whose primary address is 4200 Otter Lake Road, Gem Lake, Minnesota 55110, Ramsey County, a municipal corporation organized under the laws of the State of Minnesota, (the “City”), and Barnett Properties, LLC, a Minnesota Limited Liability Company, whose primary address is 3610 North Hwy 61, Gem Lake, Minnesota 55110 (the “Developer”). WITNESSETH: WHEREAS, Developer is the owner of two parcels of real property situated in the City of Gem Lake, County of Ramsey, legally described as follows, see attached Exhibit A; (the Property);and WHEREAS, the Developer proposes to construct a new building to replace the existing structure located on parcel A and described on Exhibit A; and WHEREAS, Developer as part of it’s plan to redevelop parcels A and B has requested permission to adjust the common boundary lines shared by parcels A and B; and WHEREAS, Developer has prepared final plans and specifications intended to comply with the regulations established with by the City of Gem Lake; and WHEREAS, the City believes the proposed development of the property and fulfillment of this Agreement are in the best interest of the City of Gem Lake; and WHEREAS, Minnesota Statute §462.358 authorizes the City to enter into a Development Agreement, secured by a performance guarantee for completion of all such improvements following final approval by the City Council and prior to the recording of the final plat at Ramsey County; and WHEREAS, the City and the Developer have entered into this Development Agreement to document their respective rights and responsibilities with respect to the construction of the Improvements; and NOW THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, each of them does hereby covenant and agree with the other as follows: