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EXTRACT of MINUTES of A MEETING <br />OF THE CITY COUNCIL of THE <br />CITY OF ROSEVILLE, <br />RAMSEY COUNTY, STATE of MINNESOTA <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br />Roseville, County of Ramsey, State of Minnesota, was duly held on October 13, 003 <br />The following members were present: <br />and the following were absent: <br />Member <br />} . a'a} °Jti a ,at.r i t` }. i• -.L��.:�a tilly� � .{ e7r�i,`i�. <br />•'ar'��"'[,• ��.- '�t�,.. ." t f Y}.a�!�i#;k,� jy' �c,',•�'��'� � �:'� "�' n ,:i" <br />introduced the f6llo'Wing resolution anAm oved its adoption: <br />RESOLUTION No. <br />A RESOLUTION AUTHORIZING THE CONCLUSION of THE FAST OFFER <br />OBLIGA'T'ION UNDER THE DEVELOPMENT AGREEMENT BY AND BETWEEN <br />THE CITY OF Ro E V I L LE AND RYAN TWIN LAKES LIMITED PARTNERSHIP <br />FOR THE TWIN LAKES DEVELOPMENT DISTRICT <br />WHEREAS, the City of Roseville has been working on the redevelopment of <br />approximately 175 acres o I dilapidated truck terminals and industrial facilities, known as Twin <br />Lakes, since 1988; and <br />WHEREAS, the City of Roseville approved a revised redevelopment master plan for the <br />Turin Lakes Area to include a market based mix of office, housing, service retail and high tech <br />flex uses in 2001; and <br />#.s <br />T ■T T■ mi m, III <br />x City o f Roseville entered into a Twin Lakes e�rel1 <br />�' optnent Agreement <br />with Ryan Compani es J une 2? 8, 199 5 as amend ed that included the development of high tech flex <br />buildings and a first offer obligation for certain parcels within the Twin Lakes Redevelopment <br />Area per Article vll, Section 7. 1, and <br />WHEREAS, The City Coun ci l has the option to conclude the first offer obligation on <br />November 24, 2003 with proper notice or the first offer obligation automatically continues until <br />November 24, 2008, and <br />WHEREAS, Reran constructed nearly 326,000 square feet of one level high tech flex <br />buildings between 1 993 -1 997 to the satisfaction of the City of Roseville as part of the <br />development agreement, and <br />WHEREAS, Ryan's dedication and efforts in Roseville }s Twin Lakes and Centre Pointe <br />area are commended and appreciated, and <br />WHEREAS, Ro sevi ll e' s Faster plan provides an opportunity for a variety of developer to <br />invest in the area and ensure the rapid redevelopment of the sites in Twin Fakes that one <br />developer alone can and should not bear. <br />