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Council Member Schroeder introduced the following resolution, the reading of which was dispensed with by unanimous consent, and moved its adoption: CITY OF ROSEVILLE COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 10250 A RESOLUTION AUTHORIZING CONTINUATION OF THE CONTRACT FOR EXCLUSIVE NEGOTIATIONS BETWEEN THE CITY OF ROSEVILLE, MINNESOTA AND THE ROTTLUND COMPANY, INC. FOR THE TWIN LAKES REDEVELOPMENT AREA BE IT RESOLVED by the City Council (the "Council") of the City of Roseville, Minnesota (the "City"), as follows: Section 1. Recitals. 1.01 On December 8, 2003, the Council approved a resolution for an exclusive negotiation period until March 22, 2004 with The Rottlund Company, Inc. ("Rottlund") relating to redevelopment of the Twin Lakes Redevelopment Area ("Twin Lakes"). 1.02 On March 29, 2004, the Council approved a resolution designating Rottlund as the Master Developer of Twin Lakes and approving a Contract for Exclusive Negotiations with Rottlund (the "Contract") which expires on March 31, 2005. 1.03 The Contract provides that its purpose is to allow Rottlund to assemble information relating to the economics, site assembly, phasing, environmental remediation and other aspects of the redevelopment, to refine its redevelopment proposal and to negotiate with the City concerning the execution of one or more Contracts for Private Redevelopment. 1.04 The Contract allows the City to terminate the Contract ifRottlund has not completed the following actions by September 30, 2004: (1) Complete work with the Advisory Stakeholder Task Force appointed by the Council (to include property owners, residents, neighborhood groups, business owners and developers) in formulating an Implementation Plan [to implement the Twin Lakes Master Plan], (2) Identify all real property that must be acquired to undertake and complete the redevelopment, including preliminary appraisals and relocation costs for representative parcels in the initial phases of the redevelopment, and