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<br />EXTRACT OF MINUTES OF A MEETING <br />OF THE CITY COUNCIL OF THE <br />CITY OF ROSEVILLE, <br />RAMSEY COUNTY, STATE OF MINNESOTA <br /> <br />Pursuant to due call and notice thereof, a regular meeting of th~ City Council of the City of <br />Roseville, County of Ramsey, State of Minnesota, was duly held on October 13, 2003 <br /> <br />The following members were present: Maschka, Klausing, Kough, Schroeder and Kysylyczyn <br /> <br />and the following were absent: none. <br /> <br />Member Kysylyczyn introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION NO. 1015.3 <br />A RESOLUTION AUTHORIZING THE CONCLUSION OF THE FIRST OFFER <br />OBLIGATION UNDER THE DEVELOPMENT AGRE:EMENT BY AND BETWEEN <br />THE CITY OF ROSEVILLE AND RYAN TWIN LAKF:S LIMITED PARTNERSHIP <br />FOR THE TWIN LAKES DEVELOPME~NT DISTRICT <br /> <br />WHEREAS, the City of Roseville has been working on the redevelopment of <br />approximately 175 acres of dilapidated truck terminals and industrial facilities, known as Twin <br />Lakes, since 1988; and <br /> <br />WHEREAS, the City of Roseville approved a revised redevelopment master plan for the <br />Twin Lakes Area to include a market based mix of office, housing, service retail and high tech <br />flex uses in 2001; and <br /> <br />WHEREAS, the City of Roseville entered into a Twin Lakes Development Agreement <br />with Ryan Companies June 28, 1995 as amended that included the development of high tech flex <br />buildings and a first offer obligation for certain parcels within the Twin Lakes Redevelopment <br />Area per Article VII, Section 7.1, and <br /> <br />WHEREAS, The City Council has the option to conclude the first offer obligation on <br />November 24, 2003 with proper notice or the first offer obligation automatically continues until <br />November 24, 2008, and <br /> <br />WHEREAS, Ryan constructed nearly 326,000 square feet of one level high tech flex <br />buildings between 1993-1997 to the satisfaction of the City of Roseville as part of the <br />development agreement, and <br /> <br />WHEREAS, Ryan's dedication and efforts in Rosevilll~'s Twin Lakes and Centre Pointe <br />area are commended and appreciated, and <br /> <br />WHEREAS, Roseville's master plan provides an opportunity for a variety of developer to <br />invest in the area and ensure the rapid redevelopment of the sites in Twin Lakes that one <br />developer alone can and should not bear. <br /> <br />1 <br />