res_10297 - Laserfiche WebLink

Home

EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota, was held on the 25th day of April, 2005, at 6:00 P.M. The following members were present: Thlan, Maschka, Schroeder, Kough and Klausing Council Member Maschka introduced the following resolution and moved its adoption: RESOLUTION NO. 10297 A RESOLUTION APPROVING A TERM SHEET WITH THE ROTTLUND COMPANY, INC. FOR THE TWIN LAKES REDEVELOPMENT AREA AND APPROVING THE PAYMENT OF CERTAIN CONSULTING FEES BE IT RESOLVED by the City Council (the "Council") of the City of Roseville, Minnesota (the "City"), as follows: Section 1. Term Sheet with The Rottlund Company, Inc. ("Rottlund"). 1.01 On March 14, 2005, the Council authorized City staff to continue to work with Rottlund on the tasks and for the purposes set forth in the Contract for Exclusive Negotiations dated March 29,2004 with a view to submitting a proposed Contract for Private Redevelopment (a "Redevelopment Contract") to the City no later than June 13,2005. 1.02 The City has presented to Rottlund a term sheet (the "Term Sheet"), attached as Schedule A. The Term Sheet is not a binding contract. Listed terms and conditions are for the purposes of discussion and negotiation only. By approving the Term Sheet, the City does not agree to enter into a Redevelopment Contract on these or any other terms. If the City and the Rottlund Company fail to reach agreement on a Redevelopment Contract, the Term Sheet shall create no other legal obligations between the parties. 1.03 The Council hereby finds that the proposed redevelopment which would be the subject of the Contract for Private Redevelopment promotes the objectives as outlined in its Development Program. 1