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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 />Capitalized Interest: <br /> <br />Grants, Responsible Parties: <br /> <br />Government Approvals: <br /> <br />Permits/Fees: <br /> <br />Zoning and Land Use <br />Approvals/Easements: <br /> <br />Special Assessments: <br /> <br />to maximize land sales proceeds and the value of the completed <br />Minimum Improvements. <br /> <br />The City will have the right to decline to approve the Minimum <br />Improvements if it appears to the City that the total market value of <br />the Minimum Improvements will not be at least 90% of the total <br />market value projected in the Redeveloper's pro forma. The City will <br />not reject the Minimum Improvements if the Redeveloper <br />demonstrates to the City's reasonable satisfaction that the market will <br />not support the product set forth in the Redeveloper's pro forma. <br /> <br />Capitalized interest during the construction period and costs of <br />issuance of any City public improvement or special assessment bonds <br />and TI Revenue Bonds will be tax increment eligible expenses. <br /> <br />The Redeveloper and City will cooperate and use their best effOlis to <br />recover costs of environmental remediation from responsible parties <br />and will also seek grants from the State of Minnesota, Metropolitan <br />Council, DEED or other available public funds. Subject to <br />reimbursement as Eligible Costs within the limitations set forth <br />herein, the Redeveloper will advance costs that were expected to be <br />defrayed by grants that are not received. <br /> <br />The Redeveloper and City will cooperate and use their best efforts to <br />obtain all necessary government approvals. <br /> <br />The Redeveloper will comply with all applicable City building codes <br />and construction requirements. The Redeveloper will pay nOlmal <br />permit, plan review, utility access and park dedication fees and will <br />be responsible for obtaining all building, plumbing, electrical and <br />mechanical permits prior to construction. City fees (infrastructure, <br />impact, permits, other) are set forth on Exhibit C. <br /> <br />NOlmal and customary site and building plan review requirements <br />will be followed. The Redeveloper will pay for rezoning, <br />subdivision, platting, plat amendment, PUD and preparation of <br />restrictive covenants, easements, reciprocal easements, and any other <br />documentation necessary for the construction and sale of the <br />Minimum Improvements. The Redeveloper will be responsible for <br />obtaining all land use and zoning approvals. <br /> <br />The Redevelopment Agreement will specify the amount and purpose, <br />if any, of special assessments to be levied against the Redevelopment <br />Property. <br /> <br />Park Dedication Fee/ <br />Public Open Space Contrib.: The level, amount and distribution of park dedication land or fees or <br />both associated with the Project will be substantially in conformance <br /> <br />9 <br />
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