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REQUEST FOR COUNCIL DISCUSSIONlDIRECTION DATE: 12/08/03 ITEM NO: VIM Department Approval; Manager Approved: Agenda Section: DPW /CB Lua S PORTS Item Description: resolution approving an exclusive negotiation period until March 22, 2004 with The Rottlund Company, Inc. for a memorandum of understanding relating to a Master Developer Agreement for the redevelopment of Twin Lakes Redevelopment Area PF3543 SUMMARY OF REQUEST: On November 24th the Council/Mayor accepted the prel iminary ro osal from The Rottlund P p Company, Inc. to be designated as the Master Developer for the 275 acre Twin Lakes Redevelopment Area, subject to adoption by City Council at the December S, 2003 meeting of a resolution (prepared by the City Development Attorney Jim asserly) providing for an exclusive negotiation period between the City and Rottlund until March 22, 2004. Mr. Casserly recommends the following steps to ultimately result in a Master Developer Agreement with Rottlund Company, Inc.: December g, 2003 - Adopt attached resolution agreeing to prepare a Memorandum of Understanding with Rottlund Company Inc. for Council consideration by March 22, 2004. The resolution also directs that the specialized developers may include, but are not limited to, Roseville Properties (retail development), welsh Companies (retail development), Ryan Companies (office/hi-tech development). Further the resolution provides that the Memorandum of Understanding should include the process for the use of public development tools including public purpose condemnation as needed to establish fair market value as a last resort, tax increment financing, long term assessments, deferred assessments, Industrial Revenue Bonds, infrastructure bonds, grants and loans. 2. March 22, 2004 or earlier — Present a Memorandum of Understanding between the City of Roseville and The Rottlund Company, Inc. which provides the basis for a legally binding Master Development Agreement or Contract for Pt ivate Redevelopment for the development process and uses within Twin Ickes Redevelopment Area. 3. After March 22, 2004 - As soon as reasonable possible after March 22, 2004, prepare for final Council adoption the legally binding Master Development Agreement or Contract for Private Redevelopment for the development process and uses within Twin Lakes Redevelopment Area.