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PAGE 4/ 11 FILE No.780 09/22 '03 10:49 ID:WELLINGTON FAX:651 292 0072 SC~ 18 2003 08:05 FR FABYANSKE LAW FIRM S1~ 3~8 3857 TO 96512920072 GatewaylEntrances: Enviromen tal Studies: Existing Improvements: Timing: Private Financing: Tax Increment Financing: P.0:3 requirement for commercia.l viability reasons may need to require tWO entries of equal importance. There will be no continuous wall surface along any street longer than 60' without an entry or , windows, An 'entry' allows a pedestrian to access a building from the street it froms. All continuous wall surfac~s longer than 60' will include window displays or other design feature at the street level. do There should be a se[ of buildings andlor landmarks clearly , marking the entries to the development that will b~ surrounded by landscaping and fully accessible by car, bicycle and pedestrian. ~nd 00 enclosed by buildings 0-1'1 both siae5, ... f t@.$,fc-4-;v CL 1\...e\ . -1 ff~ J~' S The Redevelope~ will be responsible for reviewing the requiremems for triggering the need for an environmental assessment worksheet in connection with the proposeci development. The review must specifically addresses- issues relating to <fvironmental impacts based upon the proposal. The Redevelope~must prov~, to the City's satisfaction, that t t ~s not create any negative environmental impacts that would necessitate the need for an environmental assessment worksheet or (eventually) an environmental impact statement. Existing impr.ovemenrs on the site shall not be removed until apRroval is granted hy th~' City in order to preserve me parcel's eliSibility for inclu'sion in a taX increment district The City and the Redevelope(will develop a project schedule, Substantial comp1etion of Construction of Minimum Improvements shall include: Super Target (initial phase), 156.000 s.f. by December 31, 2004 Commercial Outlots (second phase), 50% of bui Idings complete by December 31,2005. The Redevelope'will obcain'th~ necessary privat~ financi~g for the development of tlle project proposal. The City will review the use of tax increment financing only after receiving a completed Ta.x lncrement Application. The use of tax increment financing will be evaluated far eligible uses associated with the Development Property as are amhorized..Jillder the relevant statutes and City ordinances. The Redevelopez:tgree_ that tax incI'emenr generated from the private improVBrn~ntS On the Development Property may be used for the eligihle purposes as agreed upon by the City CouncU and consistent with City TIF guidelines and Minnesota Statutes. 2