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Last modified
7/17/2007 9:25:13 AM
Creation date
5/13/2005 2:42:10 PM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
10297
Resolution Title
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
Resolution Date Passed
4/25/2005
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<br />Phasing: <br /> <br />Quality of Minimum <br />Improvements: <br /> <br />more parcels of the Redevelopment Property cannot be acquired by <br />eminent domain. <br /> <br />Areas 1 (East), 2, 3 and 4: <br /> <br />Subject to weather and other force majeure events, Public <br />Improvements and Site Improvements will begin within <br />approximately 60 days after receipt of all final approvals, expiration <br />of any appeal period related to creation of the TIF District or any <br />eminent domain proceeding, acquisition of all parcels and issuance of <br />building permits, and shall be completed within 12 months thereafter. <br />Construction of Minimum Improvements shall begin within 30 days <br />of completion of Public and Site Improvements. The Redevelopment <br />Agreement shall specify the phasing for construction of the Minimum <br />Improvements. <br /> <br />Linkage of housing to commercial construction: No certificate of <br />occupancy will be issued for any commercial property until at least 60 <br />housing units are completed or under construction. <br /> <br />Area 1 (West): <br /> <br />If market conditions do not permit commencement of construction of <br />at least 180,000 sq. ft. of corporate office within three (3) years of <br />creation of the TIF District, the Redevelopment Agreement shall <br />specify the quantity, type and timing of housing to be built on that <br />site. Non-office commercial will not be an acceptable use for the site. <br /> <br />Area 5: <br /> <br />Construction of Minimum Improvements shall commence within <br />3 (three) years of the commencement of construction of the housing <br />Minimum Improvements in Areas 1 (East), 2, 3 and 4. <br /> <br />Area 8: <br /> <br />Subject to the concept of economic feasibility discussed above, <br />construction of Minimum Improvements shall commence within <br />5 (five) years of the commencement of construction of the housing <br />Minimum Improvements in Areas 1 (East), 2, 3 and 4. <br /> <br />The Redeveloper will not be required to execute assessment <br />agreements. To ensure quality of the Minimum Improvements, the <br />Redeveloper will provide the City with a description of the housing <br />products or other Minimum Improvements to be constructed and <br />specifications of construction materials, fixtures and available <br />upgrades. Both parties acknowledge that it is in their mutual interest <br /> <br />8 <br />
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