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Council Member 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. A RESOLUTION TERMINATING 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 approveda resolutionfor 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 On September 27, 2004, the Council approved a resolution authorizing the continuation of the Contract based upon Rottlund successfully achieving the requirements underthe Contract Section 7 (a). 1.04 On November 8,2004, the Councilapprovedthe extensionofdeadlinesrelatingto the Contract due to the delay in making a concept land use decision as a result of the notification regarding the petition from the Friends of Twin Lakes. The deadline extension was for 60 days after the City ruled on the concept land use plan. 1.OS The Contract provides that its purpose is to allow Rottlund to assemble information relating to the economics, site assembly, phasing, environmentalremediationand other aspects ofthe redevelopment, to refine its redevelopment proposal and to negotiate with the City concerning the execution of one or more Contracts for Private Redevelopment. 1.06 The Contract allows the City to terminate the Contract if Rottlund did not complete the following actions by March 14,2004: