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ZREEQUEST FOR COUNCIL ACTION DATE: 12-17-90 <br />ITEM NO <br />Department Ap a Manager Reviewed Of Agenda Sect 16on: <br />Reports and Recommendations <br />qr-- MOM 0173M i* <br />Authoriza,t i on to e n t e r i n t o a <br />development/purchase agreement with NCR <br />Comtenn <br />V <br />lie NCR has, stated an interest 'in consolidating in Roseville as <br />opposed to Blaine, if financial assistance I*s obtained from <br />the City ('see letitier') * <br />2a The City modified "Its Municipal Development District to <br />facilitate the, project on December 10, <br />3,v This authorization approves the basic elements of the <br />agreement which, will then be drafted in f inal form by. Briggs <br />and Morgan (see attached letter') * <br />61 0 0 <br />Alternatives,: The C ity, could f inance this project without a <br />development agreement, hioweverF the City would be completely <br />exposed wil"thout any, recourse or protection in terms of the <br />f lanancial commitme--ftin <br />Financial ImPI ications: The basic development agreement would <br />a <br />ental"Ll, the, following., <br />in The City will purchase the 14 acre area from including <br />the school for, $11,0100,000, <br />2* NCR agrees to remain, in Roseville for 7 years, <br />39 NCR, agrees l <br />toocate the 150 Blaine employees in Roseville <br />, , <br />48 'The NCR iag,re�e� ment would bind all successors if NCR is <br />purchasedni <br />